John Collison 1.2 6 ideas

"Stablecoins... they're finally starting to work for real world use cases. So we're seeing real stablecoin volumes." He also mentions incubating a blockchain for "agent to agent commerce" expected in 2026. When a major TradFi/Fintech incumbent like Stripe validates "real volume" in stablecoins, it signals the transition from speculative crypto trading to utility-based payments. This benefits the infrastructure providers and exchanges that facilitate these flows. LONG Stablecoin ecosystem proxies. Harsh regulatory intervention on stablecoin issuers.

Collison states, "All of the software businesses we work with... are continuing to grow really strongly... Generally speaking the growth of software companies has been quite strong." He notes this disconnect is driven by "markets really hate uncertainty" rather than earnings misses. Stripe has a "God's eye view" of the digital economy ($1.9T volume). If their data shows robust growth in software revenue while stock prices are falling, the sector is fundamentally mispriced due to sentiment. This creates a buying opportunity in broad software indices and key enterprise players. LONG high-quality software infrastructure. Continued multiple compression due to macro interest rates.

"We're seeing a really fast growing cohort of companies... obviously all the AI labs and everything running on Stripe. So AI is really acting as a tailwind for the business." Collison confirms that AI is not just a capital expenditure bubble but is generating actual, processable revenue ("payment volume") right now. Furthermore, he notes AI products are "generally not tariffed," making them a superior asset class in a protectionist trade environment compared to physical goods. LONG AI leaders and infrastructure. Regulatory crackdowns on AI models.