Stripe raises $600M at nearly $36B valuation

I love the quote from John Collison:

"This is digital migration in a very compressed period of time, for both businesses and customers," Collison adds. "My mom recently asked me if I'd heard of 'this Instacart thing.' Yeah mom, I have."

Sadly, it’s also likely one of the largest and fastest transfers of wealth from small businesses to large corporations. As Amazon hires 100,000+ workers how many small businesses are shuttering for good?

Stripe is one of the “good” tech companies in this respect by helping to level the playing field for smaller businesses, but it’s not going to be enough.

The impact of Covid-19 on many businesses around the world is very sad.

That said, it's less clear to me that the medium-term impact will be pro-incumbent or pro-large company. Big incumbents tend to be less adaptable and to benefit from large fixed cost barriers to entry (e.g. real estate). We're seeing a lot of nimble small businesses migrate to online business models far faster than the behemoths they used to struggle to compete against.