Tobi Lutke Building a Modern Business - [Invest Like the Best, EP.173]

Published: May 12, 2020, 9:30 a.m.

b'My guest today is Tobi Lutke, the co-founder, and CEO of Shopify.\\xa0 This is both a timely and evergreen conversation.\\xa0 Timely, as the world as moved aggressively digital in the past two months, and Shopify powers so much of digital commerce.\\xa0 Evergreen, because while we touch on Covid and the Shopify business, this is much more a conversation on business and personal principles, learning, design, and growth. Tobi is one of the CEO\\u2019s I look up to most for the type of company he is building and for the way he conducts himself.\\xa0 We discuss business focus, why video games help you learn the power of attention, what design means for products and organizations, and much more. Please enjoy my conversation with Tobi Lutke.\\n \\xa0\\n This episode is brought to you by the MIT investment management company (MITIMCO)\\n Reach out or learn more:\\xa0\\n Email:\\xa0partner@mitimco.org\\n\\n Website:\\xa0https://mitimco.org/partner/\\n\\n MITIMCo 10 year Letter:\\xa0https://mitimco.org/wp-content/uploads/2017/03/MITIMCo-Alumni-Letter.pdf\\n\\n MITIMCo brochure:\\xa0https://mitimco.org/wp-content/uploads/2019/01/MITIMCo-Brochure_web_2018-12-05.pdf\\n\\n For more episodes go to InvestorFieldGuide.com/podcast.\\n Sign up for the book club, where you\\u2019ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub.\\n Follow Patrick on Twitter at @patrick_oshag\\n \\xa0\\n Show Notes\\n (2:35) \\u2013 (First question) \\u2013 The launch of the new Shopify shop app\\n \\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 (2:44) \\u2013 Daniel Ek Podcast Episode\\n \\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 (2:45) \\u2013 Jeff Lawson Podcast Episode\\n (4:56) \\u2013 Having the right focus and growing a good business\\n (9:06) \\u2013 Marketplace business model vs the merchant driven business model\\n \\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 9:16 \\u2013 Bill Gurley Podcast Appearances - 162 | 144 | 137\\n (11:47) \\u2013 His role as a decisionmaker as CEO of the company\\n (14:07) \\u2013 What does he mean when he talks about quality\\n (18:28) \\u2013 His thinking on design and quality\\n \\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 (18:32) \\u2013 Zen And The Art Of Motorcycle Maintenance\\n \\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 (19:59) \\u2013 The Design of Everyday Things\\n (21:06) \\u2013 Friction as a force in business and manufacturing\\n (26:04) \\u2013 His thoughts on systems and being free of process\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\n (26:08) \\u2013 The Systems Bible\\n \\xa0(30:01) \\u2013 The game of Factoria and how it relates to systems\\n \\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0\\xa0 (32:16) \\u2013 Transfer Learning\\n (34:33) \\u2013 What Real-Time Strategy games have taught Tobi\\n (38:30) \\u2013 Building context inside of a company and making it scale\\n (41:17) \\u2013 Personality typing\\n (46:22) \\u2013 The Tobi Blueprint\\n (46:04) \\u2013 Why he likes The Guide to the Good Life and stoicism\\n (55:38) \\u2013 Raising kids and the impact of Covid\\n (1:03:16) \\u2013 The kindest thing anyone has done for Tobi\\n \\xa0\\n Learn More\\n For more episodes go to InvestorFieldGuide.com/podcast.\\xa0\\n Sign up for the book club, where you\\u2019ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub\\n Follow Patrick on Twitter at @patrick_oshag'