“$100M dollar brands are being built for boring products” - Harl…
About This Episode
Harley Finkelstein, President of Shopify, discusses how entrepreneurs are building $100M brands by applying luxury branding and superior design to 'boring' commodity products like hand sanitizer and fire logs. The conversation explores internal leadership strategies at Shopify, including Tobi Lütke's 'reflexive' AI mandate and the transition from 'Swiss Army knife' founder to 'spiky object' executive. They also brainstorm opportunities for disruption in the karaoke, tool, and supplement industries using design-led innovation.
Episode Description
Show Notes
- 0:00Disrupting boring products
- 15:05Swiss Army knife founders
- 21:42"People only remember your weird"
- 31:45Considering an exit
- 39:32Becoming a better storyteller
- 46:17Shopify's leaked memo about AI
- 51:26Biohacking Longevity
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Key Takeaways
Premiumize Utility Categories: Significant market value exists in taking utilitarian commodity items like hand sanitizer or tools and reimagining them as high-design, luxury lifestyle brands.
The Reflexive AI Mandate: To deeply integrate AI, companies should require managers to substantiate why AI cannot perform a role before being allowed to hire a human for it.
Focus on Spiky Objects: As companies grow, founders must move away from being generalists and instead focus on their 'spiky' strengths—areas where they are world-class, such as technical architecture or storytelling.
Business Ideas Mentioned
High-End Consumer Karaoke Systems
E-commerce
Luxury Designer Hand Tools
E-commerce
AI-Driven Personalized All-In-One Supplements
E-commerce