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☆ Wall Street is about to see its biggest trading change in years
▼ + stars: | 2024-05-24 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

New York CNN —Buying or selling a stock is about to get a lot snappier starting next Tuesday. But that doesn’t mean it’ll get smoother, at least right away — and some financial firms are preparing to handle any possible bumpiness. Clearinghouses, which sit between buyers and sellers, collect margins from traders as evidence that they can afford to make the transaction. Baird has had a T+1 committee in place since last summer to ensure such hiccups don’t happen, Lee said. “The existing two-day period to settle trades exposes investors and the industry to unnecessary risk and is ripe for change,” Robinhood CEO Vlad Tenev said in a February 2021 release.

Persons: “, That’s, ” Gary Gensler, ”, Rich Lee, Baird, Lee, Reddit, Vlad Tenev, Max, Gregory Wallace, Brian West, Mike Whitaker, ” “, ” Whitaker, Read, Meta, that’s, Clare Duffy, Patrick Collison, Nat Friedman, Tobi Lütke, Charlie Songhurst, White, OpenAI Organizations: CNN Business, Bell, New York CNN, Securities and Exchange Commission, Employees, GameStop, AMC Entertainment, AMC, Robinhood, Investors, Boeing, FAA, Federal Aviation Administration, Wolfe Research, ABC, Microsoft, Meta Locations: New York, OpenAI

☆ I cold-emailed Mark Cuban and a Meta exec, and they both responded. Here's how I worded it.
▼ + stars: | 2024-05-23 | by ( Andrew Yeung | ) www.businessinsider.com time to read: +7 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Share genuine gratitudeIt doesn't hurt to include genuine appreciation and praise for the person you're contacting. Do research on the person you're reaching out to. If you have a strong mutual relationship, ask for an in-person meeting. Set aside 20 minutes a week to intentionally expand your network, and you'll find yourself attracting more opportunities, relationships, and wealth.

Persons: —, I've, It's, Mark Cuban, Andrew Yeung Organizations: Service, Business, Spotify, Meta, Google, Silicon, Tech, Fortune, LinkedIn, ABC Company, Facebook, Business Planning, Next Locations: South East

☆ Meta created an AI advisory council that’s composed entirely of White men
▼ + stars: | 2024-05-23 | by ( Clare Duffy | ) edition.cnn.com time to read: +3 min

New York CNN —Meta this week appointed a group of outside advisors to provide guidance on its artificial intelligence strategy. The four-person advisory group is composed entirely of White men. The situation mirrors an incident last year at OpenAI when, in the wake of a leadership shakeup, it came under fire for appointing a board composed entirely of White men. The large language models that underpin AI systems are trained on vast troves of data, often written by humans and coming from the internet. Meta did not immediately respond to a request for comment on the council’s lack of diversity.

Persons: Patrick Collison, Nat Friedman, Tobi Lütke, Charlie Songhurst, White, OpenAI, ” Joy Buolamwini, Meta Organizations: New, New York CNN, Microsoft, Meta, League, CNN Locations: New York, OpenAI

☆ Meta names four men to a new tech advisory council, months after disbanding its Responsible AI division
▼ + stars: | 2024-05-23 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +1 min

Meta formed a product advisory council six months after disbanding its Responsible AI division. Four white male tech execs sit on the new council, called Meta Advisory Group. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementMeta announced the formation of a product advisory council on Wednesday, six months after it disbanded its Responsible AI division. The Meta Advisory Group consists of four executives: payment platform Stripe CEO Patrick Collison, former GitHub CEO Nat Friedman, Shopify CEO Tobi Lütke, and former Microsoft executive Charlie Songhurst.

Persons: Meta, —, Patrick Collison, Nat Friedman, Shopify, Tobi Lütke, Charlie Songhurst Organizations: Meta, Service, Microsoft, Business

☆ The 2024 CNBC Disruptor 50: How we chose the companies
▼ + stars: | 2024-05-14 | by ( David Spiegel | ) www.cnbc.com time to read: +5 min

These companies are upending the classical definition of disruptive innovation that shaped the creation of the Disruptor 50 list more than a decade ago. A whopping 34 of the 50 companies on our twelfth annual CNBC Disruptor 50 list claim that artificial intelligence is "critical" to their businesses. Thirteen of the 2024 Disruptors call themselves "generative AI companies," including five of the top ten on this year's list. Here's how we chose them in 2024:All private, independently owned startup companies founded after Jan. 1, 2009, were eligible to be nominated for the Disruptor 50 list. New for 2024, CNBC formed a Disruptor 50 VC Advisory Board, in an effort to leverage the valuable expertise of leading venture capital firms and investors.

Persons: disruptors, Jan, — Organizations: CNBC, Advisory, SpaceX

☆ Stripe: 2024 CNBC Disruptor 50
▼ + stars: | 2024-05-14 | by ( Cnbc.Com Staff | ) www.cnbc.com time to read: +1 min

It hasn't emerged unscathed, seeing its private valuation cut sharply during the startup crash. Stripe was valued at $65 billion as of the tender offer it completed in February, an increase from its last private valuation of $50 billion – albeit still far from its high of $95 billion in 2021. In its annual letter published in March, Stripe revealed that it surpassed $1 trillion in total payment volume in 2023, up 25% from 2022. "Stripe's business is the healthiest it's ever been," president and co-founder John Collison told CNBC in April. Stripe says it's also benefiting from a new wave of optimism in Silicon Valley, even if it isn't primarily an AI company.

Persons: hasn't, John Collison, We're, it's, disruptors OpenAI Organizations: PayPal, CNBC Locations: Silicon Valley

☆ The world's largest fans designed to suck carbon from the air are up and running in Iceland
▼ + stars: | 2024-05-09 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +4 min

Climeworks' direct-air-capture plant can remove up to 36,000 metric tons of carbon from the air a year. AdvertisementThe startup Climeworks this week switched on the largest direct-air-capture plant, which pulls carbon dioxide from the sky and locks it away underground. Climateworks' Mammoth plant also cost hundreds of millions of dollars to build, though the company didn't disclose the exact amount. AdvertisementClimeworks aims to become large enough to remove 1 million metric tons of carbon a year by 2030 and 1 billion metric tons by 2050 — or a megaton and gigaton. The two plants could remove more than 2 million metric tons of carbon dioxide from the air each year.

Persons: Climeworks, —, it's, JPMorgan Chase, Jan Wurzbacher, Wurzbacher Organizations: Service, UN, Carbon Project, Microsoft, Swiss, JPMorgan, US Department of Energy, Occidental Petroleum Locations: Mammoth, Iceland, Paris, Canada, Norway, Oman, Kenya, Louisiana, West Texas

☆ Planet endures record-hot April, as scientists warn 2024 could beat heat records for second year in a row
▼ + stars: | 2024-05-07 | by ( Laura Paddison | ) edition.cnn.com time to read: +4 min

CNN —Extraordinary global heat continues its streak. It marks 11 consecutive months of unprecedented global temperatures. With that new data point, some scientists warn there is a strong chance 2024 could beat 2023 as the warmest year on record. Global ocean heat in April was also record-breaking for the 13th consecutive month. And while heat records are still being set month after month, the margins at which they are being broken are smaller than they were in 2023.

Persons: Copernicus, Adnan Abidi, Lisa Marie David, El Niño, Niño, it’s, Zeke Hausfather, ” Hausfather, Indranil Aditya, ”, Carlo Buontempo Organizations: CNN, Reuters, Getty Locations: Asia, Bangladesh, Vietnam, India, Barmer, Rajasthan, Manila, Philippines, Berkeley, Mumbai

☆ Tensions Rise in Silicon Valley Over Sales of Start-Up Stocks
▼ + stars: | 2024-05-06 | by ( Erin Griffith | ) www.nytimes.com time to read: +1 min

Sohail Prasad, an entrepreneur, launched a fund in March called the Destiny Tech100. The fund owns shares in hot tech start-ups like the payments firm Stripe, the rocket maker SpaceX and the artificial intelligence company OpenAI. Few people get the chance to invest in these privately held companies since their shares are not openly traded. Mr. Prasad’s intention with Destiny was to let the rest of the world get a piece of them through his fund. But soon after Destiny debuted, two tech start-ups — Stripe and Plaid, a banking service — said the fund did not legally own their shares.

Persons: Sohail Prasad, Destiny, —, Robinhood, Prasad, ” Organizations: SpaceX

☆ Jensen Huang's 6 a.m. starts and 14-hour workday helped him turn Nvidia into a $2 trillion company
▼ + stars: | 2024-05-02 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +6 min

The Nvidia CEO has an engaged leadership style with 60 direct reports, which he says empowers others. AdvertisementRunning a $2 trillion company comes with early morning starts — just ask Jensen Huang. Huang works holidays but finds it relaxingNvidia CEO Jensen Huang. When I'm not working, I'm thinking about working, and when I'm working, I'm working. Got insights into what it's like working for Jensen Huang?

Persons: Jensen, Huang, —, Jensen Huang, Mohd Rasfan, Huang doesn't, workshy, Nicolai Tangen, Tangen, Nicolai, Huang's, Patrick Collison, I'm, Michael M, That's Organizations: Nvidia, Service, Financial Times, New York Times DealBook, Microsoft, Apple, Getty, Norges Bank Investment Management, Stripe Sessions, Big Tech, CNN, Forbes, Stanford School of Business, Stanford University Locations: AFP

☆ Chris Pine’s latest red carpet look puts a new spin on ‘method dressing’
▼ + stars: | 2024-04-26 | by ( Alex Rees | ) edition.cnn.com time to read: +3 min

(CNN) — At the premiere of his new film “Poolman” in Los Angeles on Wednesday night, Chris Pine stepped onto the red carpet in an artfully-disheveled ensemble. Over a light beige slogan tee, Pine wore a “Miami Vice”-worthy blazer accessorized with a large pink peony boutonnière. For the Vanity Fair Oscar's after party on March 27, 2022, Chris Pine wore a rich red velvet smoking jacket over a shirt with a pussybow-style neckline. Rich Fury/VF22/Getty ImagesPictured here in slouchy red, white and blue suiting, Pine attends the Venice International Film Festival on September 05, 2022. Sala Gedu/BackgridOn the “Poolman” red carpet, the 43-year-old actor told E!

Persons: Chris Pine, he’s, Rich Fury, Pine, Franco Origlia, Jon Kopaloff, Anthony Ghnassia, Sala Gedu, Tom Selleck, Harrison Ford, ” Organizations: CNN, —, Miami, Venice Locations: Los Angeles, Hollywood, Beverly Hills , California, Paris, comfy, Instagram, Los Feliz , California

☆ Stripe co-founder says high interest rates flushed out Silicon Valley's 'wackiest' ideas
▼ + stars: | 2024-04-25 | by ( Kate Rooney | ) www.cnbc.com time to read: +2 min

Rising interest rates crushed technology valuations and had a chilling effect on Silicon Valley. Stripe had to take a major haircut along with the rest of the industry as soaring inflation and rising interest rates, starting in 2022, pushed investors out of the riskiest assets, lifted borrowing costs and and forced startups to tighten their belts. "Valuations are a product of interest rates," Collison said. While many tech companies took a hit in 2022 and 2023, Collison said the rising interest rate environment succeeded in flushing out the "wackiest" startup ideas, leaving the best ones to get funded. He pointed to an "overfunding" of marginally good ideas, and "zombie companies" taking too long to go bust.

Persons: John Collison, Collison, Patrick, Elon, We're, Jerome Powell Organizations: CNBC, SpaceX, Wall Street Journal, Federal Locations: Silicon Valley

☆ Stripe Co-Founder John Collison on AI enthusiasm in a new interest rate environment
▼ + stars: | 2024-04-25 | by ( Kate Rooney | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStripe Co-Founder John Collison on AI enthusiasm in a new interest rate environmentStripe President and Co-Founder John Collison joins CNBC's Kate Rooney at Stripe Sessions 2024 to talk how higher interest rates impact Silicon Valley, and where Stripe stands as the IPO market regains momentum.

Persons: John Collison, CNBC's Kate Rooney

☆ Anthropic Co-Founder Daniela Amodei on AI adoption, Claude 3 and impact on payments
▼ + stars: | 2024-04-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAnthropic Co-Founder Daniela Amodei on AI adoption, Claude 3 and impact on paymentsAnthropic Co-Founder Daniela Amodei joins CNBC's Kate Rooney at Stripe Sessions 2024 to discuss partnerships and competition, Claude 3 rollout, and AI adoption in the banking and payments spaces.

Persons: Daniela Amodei, Claude, Kate Rooney Organizations: Anthropic

☆ Global arms fairs from Russia to the UAE: Photographer’s take on bizarre world
▼ + stars: | 2024-04-24 | by ( Christy Choi | ) edition.cnn.com time to read: +10 min

CNN —An arms fair may contain all the trappings of war, but it is nothing like a battlefield. Nikita TeryoshinA shot of the reception at the 2016 MSPO expo, the biggest arms fair in Eastern Europe. “It was the only (arms fair I’d been to) where they were shooting real rockets over 20 kilometers (12 miles) maybe,” said Teroyshin. Fairgoers wait for a shuttle to a live demonstration site during the 2019 Army military expo held in Alabino, Russia. Forever.”) is paired with an image of three women in Islamic veils at an arms fair, one pretending to hold a rifle depicted in the poster in front of her.

Persons: ”, Nikita Teryoshin, “, ” Teryoshin, Nikita Teryoshin “, Teryoshin, Majid, Teroyshin, Lockheed Martin, Nikita Teryoshin Teroyshin, ‘, KAI, Nikita Teryoshin Saudi, Linda Åkerström, eyeshadow, Nikita Teryoshin Åkerström, ” Teroyshin, he’s, Åkerström, you’ll Organizations: CNN, Swedish Bofors, expos, Tiger, Kalashnikov, Lockheed, Manufacturing, ITT, Otis Defence, CTA, Elbit Systems, BAE Systems Locations: Russian, Swedish, Kielce, Poland, Lima , Peru, Belarus, France, Germany, South Korea, China, UAE, Peru, Russia, Vietnam, USA, South Africa, Lucknow, Uttar Pradesh, India, “, DEFEXPO, Eastern Europe, Mali, Alabino, Abu Dhabi, Paris, Dortmund, Seoul, IDEX, Central, Western Europe, Saudi Arabia, Qatar, Australia, Ukraine

☆ Demand for private companies is high, but getting your hands on them is a big problem
▼ + stars: | 2024-04-22 | by ( Bob Pisani | ) www.cnbc.com time to read: +4 min

If you have your heart set on investing in up-and-coming private companies, options exist, but are limited. Obviously, there is a strong desire to get into hot private market tech companies, even if at an irrational cost. The simplest way to do this would be to float an exchange traded fund, or ETF, that held these private shares. Forge Global launched the Forge Accuity Private Market Index, a market capitalization weighted index that tracks the performance of 60 late-stage venture-backed private companies like SpaceX and Epic Games. Bottom line: there is no easy way to access private shares.

Persons: Tech100, Cathie Wood, Howe Ng, Brett Winton Organizations: New York Stock Exchange, SpaceX, Klarna Bank, Tech100, ARKVX Venture, Forge Global, Epic Games, ARK Investment, Edge

☆ The man who led Google Photos to 1 billion users is now the newest group partner at Y Combinator
▼ + stars: | 2024-04-18 | by ( Melia Russell | ) www.businessinsider.com time to read: +7 min

Lieb, having a background in semiconductors and not server management, reached out to his fellow Y Combinator founders for support. After a year and a half of advising at the accelerator, he's stepping up as a group partner, Y Combinator tells Business Insider exclusively. It was never released, but many of the ideas would later come back in the form of Google Photos. From there, he reached into the Y Combinator alumni network to find other promising upstarts. David Lieb, second from left, speaks to a group of Y Combinator founders.

Persons: David Lieb, Lieb, Alex Polvi, Combinator —, Garry Tan, Jared Friedman, Harj Taggar, Michael Seibel, Sam Altman, it's, Y Combinator, " Lieb, Dan Lieb, Y, Xoogler, Patrick, John Collison's, Mixpanel, Jake Mintz, Forbes, Kevin Systrom, Flock, Andy Huibers, Mary, 72m2YgJZq8 — David Lieb, Ryan Peterson, He's Organizations: Apple, Business, Investors, Google Locations: Cloudkick, San Francisco, Silicon Valley, Flexport

☆ Amazon CEO Andy Jassy says he's committed to cost cutting while investing in AI in shareholder letter
▼ + stars: | 2024-04-11 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +41 min

This work diminished short-term revenue, but was best for customers, much appreciated, and should bode well for customers and AWS longer-term. We're also making progress on many of our newer business investments that have the potential to be important to customers and Amazon long-term. Being intentional about building primitives requires patience. Customers building their own FM must tackle several challenges in getting a model into production. Customers' AI models contain some of their most sensitive data.

Persons: Andy Jassy, Jassy, Jeff Bezos, he's, we've, Martha Stewart, Clinique, we're, We've, bode, We're, I've, iterating, We'd, we'd, Fox, affordably, you've, They're, Anthropic, that's, Claude, Dana, debugs, Slack Organizations: Amazon, Services, AWS, Deal, Prime, MGM, Savings, Regions, Citadel, Target, Storage Service, Netflix, Disney, Max, Paramount, CIA, . Intelligence, Amazon Freight, Carrier, Amazon Shipping, Foods, Drones, Amazon Pharmacy, Amazon Clinic, Robotics, Nvidia, Ricoh, NatWest, FMs, Meta, Bridgewater Associates, Farber Cancer Institute, Delta Air Lines, Intuit, KT, Lonely, LexisNexis, Netsmart, Pfizer, PGA, Rocket Companies, Siemens, Media, Inc Locations: North America, U.S, Europe, India, Brazil, Australia, Mexico, Middle East, Africa, Malaysia, New Zealand, Kingdom of Saudi Arabia, Thailand, Berlin, Hulu, Amdocs, Genomics England, GoDaddy, GenAI

☆ There are green shoots appearing in the IPO market. Here are the stocks to watch going public soon
▼ + stars: | 2024-04-10 | by ( Bob Pisani | ) www.cnbc.com time to read: +6 min

Two months ago, I wrote a story entitled, "The IPO market is looking very shaky and facing challenges galore." Two months later, the IPO market is still shaky, but there are definite signs of improvement. Second, three $100 million IPOs have filed to go public in the past week, including Viking (the cruise line operator) and Rubrik, a data management platform. Greg Martin at Rainmaker Securities told me that the recent performance of Reddit and Astera Labs, "Were nice shots in the arm for the IPO market. Even with markets at new highs, the specter of interest rates creeping up is still hanging over the IPO market.

Persons: Matt Kennedy, Reddit, Greg Martin, Ibotta, Ingram, Del, Viking, Howe Ng, I'm, Martin, Rainmaker, Santosh Rao Organizations: IPOs, Viking, Renaissance Capital, Astera Labs, Rainmaker Securities, NYSE, UL Solutions, Underwriters Laboratories, Nursing, Centuri Holdings, Labs, Companies, Ingram Micro, Epic, Manhattan Venture Partners Locations: IPOs, Del Monte

☆ Want to Invest in SpaceX or Stripe? There’s a Fund for That.
▼ + stars: | 2024-04-05 | by ( Erin Griffith | ) www.nytimes.com time to read: +1 min

Stripe, a payments start-up, is one of the most successful companies to emerge from Silicon Valley in a generation. It is a problem that has vexed retail investors for years, as start-ups like Stripe, SpaceX and OpenAI soar to enormous valuations in the private market. Only so-called accredited investors with a high net worth are allowed to invest in private tech start-ups. It is offering a publicly traded fund that contains shares of 23 private tech companies including Stripe, SpaceX, OpenAI, Discord and Epic Games. Sohail Prasad, the chief executive of Destiny XYZ, the parent company of the fund, said his goal was to let anyone own part of the tech industry’s top private companies.

Persons: Destiny Tech100, Sohail Prasad Organizations: SpaceX, Games, New York Stock Exchange Locations: Silicon

☆ Sam Altman's mission to increase human lifespan with a $180 million shipping container experiment at Retro Biosciences
▼ + stars: | 2024-03-23 | by ( Hilary Brueck | ) www.businessinsider.com time to read: +11 min

Called Retro Biosciences, the startup's goal is simple yet supremely ambitious: Add 10 healthy, enjoyable years onto the back end of our lifetimes. But Retro Biosciences actually fits quite neatly into Altman's futuristic worldview. Retro BiosciencesRetro Biosciences sits about 30 miles south of OpenAI's San Francisco headquarters, where ChatGPT was hatched. Joe Betts-LaCroix is the CEO of Retro Biosciences. There are things we already know work super well to improve human longevity, like exercise, diet, faith, and social support.

Persons: Sam Altman, he's, Elon Musk, Mark Zuckerberg, Altman, Instacart —, Joe Betts, LaCroix, isn't, Betts, Retro's, spry, Yamanaka, Shinya Yamanaka, it's, they've, Sora, Thiel, Jeff Bezos, Bezos, Yuri Milner, Billionaire Peter Thiel, He's, Aubrey de Grey, Christian Angermayer, biogerontologist Daniel Promislow, Altman's, Matt Buckley Organizations: Business, OpenAI, Biosciences, Harvard, MIT, Caltech, Extension, Apple, Stanford University, Retro, Bezos, Labs, Billionaire, Cambrian, Retro Biosciences, Bloomberg Locations: geroscience, Silicon Valley, OpenAI's San Francisco, Meta, Golden City, Retro.bio, Redwood City , California, San Diego

☆ It's hard to compete with Elon Musk when recruiting AI talent, CEO says
▼ + stars: | 2024-03-18 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

Perplexity CEO Aravind Srinivas said Elon Musk's xAI is stiff competition in the recruiting space. The AI CEO said Musk's company offers the highest compensation at the moment. Aravind Srinivas, the CEO of the AI company Perplexity, said it can be difficult to compete with the Tesla CEO when recruiting. Musk launched his own AI startup, xAI, last year and Srinivas said it has since become one of the highest-paying companies for AI talent — on par with OpenAI. In January, Financial Times reported that Musk's AI venture was in talks to raise $6 billion at around a $20 billion valuation.

Persons: Aravind Srinivas, Elon Musk's, It's, —, Elon Musk, Tesla, Musk, Srinivas, OpenAI, Alex Heath, Perplexity, Heath, OpenAI's ChatGPT, xAI's, Patrick Collison, Collison, Srnivas, he'd, Mark, Fortune, X Organizations: Service, OpenAI, Street Journal, Financial Times, xAI, TechCrunch, Twitter, SpaceX, Musk .

☆ Stripe co-founder John Collison on startups, state of consumer and impact of AI
▼ + stars: | 2024-03-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStripe co-founder John Collison on startups, state of consumer and impact of AIStripe co-founder and president John Collison joins 'Squawk Box' to discuss the company's 2023 annual letter, his thoughts on startups, future of payments, impact of AI, state of crypto, Charlie Munger's legacy, and more.

Persons: John Collison, Charlie Munger's

☆ Watch CNBC's full interview with Stripe co-founder and president John Collison
▼ + stars: | 2024-03-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Stripe co-founder and president John CollisonStripe co-founder and president John Collison joins 'Squawk Box' to discuss the company's 2023 annual letter, his thoughts on startups, future of payments, impact of AI, state of crypto, Charlie Munger's legacy, and more.

Persons: John Collison Stripe, John Collison, Charlie Munger's

Fintech giant Stripe revealed in its annual letter published on Wednesday that it surpassed $1 trillion in total payment volume in 2023, up 25% from 2022. By comparison, PayPal surpassed $1 trillion in total payment volume in 2021, 23 years after it was founded. Stripe is valued at $65 billion as of the company's latest tender offer completed last month. We wanted to ensure shareholders have access to liquidity that is why we did the tender offer last year, that's why we did the tender offer this year." "Things got a bit mad at the peak of 2021... startups are focusing on more profitable growth," Collison explained to Sorkin on "Squawk Box."

Persons: Patrick, John Collison, Andrew Ross Sorkin, Collison, Sorkin Organizations: PayPal, CNBC, YouTube

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