MiB: Jim McKelvey, co-founder of Square

January 15, 2022
9:00 am

Justice News Flash Report

MiB: Jim McKelvey, co-founder of Square

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This week, we interviewed entrepreneur Jim McKelvey, who is “The Innovation Stack: Building an Unbeatable Business One Crazy Idea at a Time. McKelvey is the CEO and founder of Invisibly and (along with Jack Dorsey) the co-founder of Square, who currently sits on Square’s board of directors. McKelvey also chairs Board of Directors exist Federal Reserve Bank of St. Louis.

McKelvey is an engineer but loves glass blowing. The idea for Square came when he couldn’t make sales to customers because he couldn’t handle American Express cards.He teamed up with a former employee—a talented programmer named Jack Dorsey—and Square (now blockage) born in.

He explained how Amazon came to Square with a competing product that posed a huge threat to their business model. Square was too busy to respond to Amazon at the time, which led to a haphazard strategy to beat Amazon by focusing on customers and ignoring competition. When Amazon exited the field, they sent all customers a Square to replace their own products.But the experience led McKelvey to explore why they beat Amazon, and the result of that research is his book Innovation stack.

his favorite list book here; our conversation transcript is available here on Monday.

You can stream and download our full conversations, including podcast add-ons iTunes, Spotify, stapler, Google, Bloomberg, and Akaster. All early podcasts on your favorite podcast host are available find here.

Be sure to check out our Master of Business Next week as portfolio manager with Tina Vandersteel, head of GMO’s emerging countries debt team GMOsforeign currency and local currency debt portfolio. Before joining GMO in 2004, she worked in fixed income research at JP Morgan, developing quantitative arbitrage strategies for emerging debt and high yield bonds.