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This is a clear shot across the bow of Dorsey's empire. Given Square's huge portion of their revenue coming from readers, things have to be looking bleak over t

by 0xy 5y ago

This is a clear shot across the bow of Dorsey's empire. Given Square's huge portion of their revenue coming from readers, things have to be looking bleak over there. Square is down 61% since October.

NovemberWhiskey 5y ago
I think until this goes out of the "NFC only" card capture space there's going to be room to compete. I don't think you can realistically run a point-of-scale business that doesn't allow mag stripe / chip payment yet. Maybe I'm wrong though.
- jon889 5y ago
  Weird that this is US first when in the UK it’s extremely rare not to be able to use contactless. (I only say UK as I live there, but definitely there are other countries that are heavily focused on contactless)
  - adventured 5y ago
    Apple might perceive a large advantage to moving quickly in the US market right now, that there is something to gain by grabbing land there sooner rather than later (as opposed to rolling it out in various smaller markets with higher % contactless rates first).
curiousllama 5y ago
Square stock lives and dies with bitcoin - wouldn't use the stock as an indicator of this
edwinwee 5y ago
(I work at Stripe.) Square and Stripe Terminal are designed for pretty different use-cases: Square is an instant POS that small business owners can use to accept payments for their shops. Stripe Terminal allows platforms and tech-forward companies to integrate with the Stripe API—to deploy and customize in-person payments for bespoke checkout flows (think Shopify, Lightspeed, or HouseCall Pro).
adventured 5y ago
A lot of bubbly tech stocks are down massively, it's not particular to Square. The bubble popped. Teladoc is down 77% Fastly is down 77% Pinterest is down 71% DraftKings is down 70% Zoom is down 69% Palantir is down 66% DocuSign is down 62% DoorDash is down 61% Twilio is down 57% Twitter is down 55% Roblox is down 55% Etsy is down 54% DigitalOcean is down 53% Shopify is down 50% Cloudflare is down 50% Unity is down 49% Netflix is down 42% CrowdStrike is down 39% Okta is down 36% Atlassian is down 35% Salesforce is down 31% And so on. The air also continues to leak out of the meme garbage stocks.
- mstipetic 5y ago
  Wow this is actually true. I have no idea how I'm only realizing this now
  - adventured 5y ago
    The tech media and media in general is intentionally not talking about it widely. For ~6-8 years there was 24/7 talk of: "is the bubble ending? when will it end?". Then the bubble actually ends and everybody stops talking about it - because it finally actually happened and that's a lot more terrifying than speculating on ifs and whens. Trillions of dollars in paper wealth are going to vanish. A lot of these hyper multiple tech stocks are about to enjoy a long stretch of compression with far lower to negative returns, in the style of the post Nasdaq bubble years.

by 0xy 5y ago

This is a clear shot across the bow of Dorsey's empire. Given Square's huge portion of their revenue coming from readers, things have to be looking bleak over there. Square is down 61% since October.

NovemberWhiskey 5y ago

I think until this goes out of the "NFC only" card capture space there's going to be room to compete. I don't think you can realistically run a point-of-scale business that doesn't allow mag stripe / chip payment yet. Maybe I'm wrong though.

jon889 5y ago
Weird that this is US first when in the UK it’s extremely rare not to be able to use contactless. (I only say UK as I live there, but definitely there are other countries that are heavily focused on contactless)
- adventured 5y ago
  Apple might perceive a large advantage to moving quickly in the US market right now, that there is something to gain by grabbing land there sooner rather than later (as opposed to rolling it out in various smaller markets with higher % contactless rates first).

curiousllama 5y ago

Square stock lives and dies with bitcoin - wouldn't use the stock as an indicator of this

edwinwee 5y ago

(I work at Stripe.) Square and Stripe Terminal are designed for pretty different use-cases: Square is an instant POS that small business owners can use to accept payments for their shops. Stripe Terminal allows platforms and tech-forward companies to integrate with the Stripe API—to deploy and customize in-person payments for bespoke checkout flows (think Shopify, Lightspeed, or HouseCall Pro).

adventured 5y ago

A lot of bubbly tech stocks are down massively, it's not particular to Square. The bubble popped. Teladoc is down 77% Fastly is down 77% Pinterest is down 71% DraftKings is down 70% Zoom is down 69% Palantir is down 66% DocuSign is down 62% DoorDash is down 61% Twilio is down 57% Twitter is down 55% Roblox is down 55% Etsy is down 54% DigitalOcean is down 53% Shopify is down 50% Cloudflare is down 50% Unity is down 49% Netflix is down 42% CrowdStrike is down 39% Okta is down 36% Atlassian is down 35% Salesforce is down 31% And so on. The air also continues to leak out of the meme garbage stocks.

mstipetic 5y ago
Wow this is actually true. I have no idea how I'm only realizing this now
- adventured 5y ago
  The tech media and media in general is intentionally not talking about it widely. For ~6-8 years there was 24/7 talk of: "is the bubble ending? when will it end?". Then the bubble actually ends and everybody stops talking about it - because it finally actually happened and that's a lot more terrifying than speculating on ifs and whens. Trillions of dollars in paper wealth are going to vanish. A lot of these hyper multiple tech stocks are about to enjoy a long stretch of compression with far lower to negative returns, in the style of the post Nasdaq bubble years.