Bolt Built $11B Payment Business on Inflated Metrics and Eager Investors(nytimes.com)
nytimes.com
Bolt Built $11B Payment Business on Inflated Metrics and Eager Investors
https://www.nytimes.com/2022/05/10/business/bolt-start-up-ryan-breslow-investors.html
13 comments
I eagerly await the next Twitter meltdown that this article will undoubtedly manifest from Ryan.
"Stripe clearly owns the NYT."
"Stripe clearly owns the NYT."
He did already Tweet about NYT - https://twitter.com/theryanking/status/1514385094403833862
When Mr. Traina hosted a dinner later that year, he sat Mr. Breslow between Mr. Thiel and Reid Hoffman, the co-founder of LinkedIn.
“I was laughing to myself, saying he’ll sink or swim tonight,” Mr. Traina recalled in an interview.
What is really sad is to see this kind of behaviour from investors. Testing a founder just for the fun of it.
“I was laughing to myself, saying he’ll sink or swim tonight,” Mr. Traina recalled in an interview.
What is really sad is to see this kind of behaviour from investors. Testing a founder just for the fun of it.
Mr Traina had already invested in the start up and had set up a dinner for Breslow to network with Thiel and Hoffman. Both of those guys are massive VCs that any founder would be massively keen to get connections with. Thiel ended up Angel investing. This wasn't a test, it was a massive gift.
I've read that whole article and I'm still no clearer as to what they actually do. I understand Amazon's "one-click" technology, as Amazon already has all my address and payment details saved.
Am I therefore expected to create an account with Bolt so they can store my details and offer a "one-click" experience on downstream e-comm sites? How is this different to what PayPal offer, especially given PayPal is ubiquitous?
Am I therefore expected to create an account with Bolt so they can store my details and offer a "one-click" experience on downstream e-comm sites? How is this different to what PayPal offer, especially given PayPal is ubiquitous?
This suggests a good answer for why he’s so sensitive to shadowy conspiracies and bad faith actors (re: the mob rant): he was indulging in some of it himself. Not that we should assume this absolves Stripe. There seems to be some circumstantial evidence for their ruthless behavior beyond what Breslow has offered.
Breslow had previously tweeted about NYT - https://twitter.com/theryanking/status/1514385094403833862
Another Theranos in the making.
And the picture in this article, lol...is this Adam Neumann reincarnated?