An Important Lesson From A Successful Founder
This day two weeks ago, we had our first ever twenty-bagger. Shopify, which we recommended in 2016 at $43.43, increased 20-times in value in just four years. Since then, Shopify is now a 24-bagger thanks to the power of compound interest.
Over the last few weeks, I’ve seen plenty of users on Twitter post images of their incredible Shopify returns. The fact that so many trusted our recommendation in the first place is flattering, however, that so many held the stock for so long and didn’t feel the need to lock-in profits is highly encouraging.
I myself am a shareholder and despite the recent run, I don’t see myself selling anytime soon. Part of that is my strong belief in the business. However, a lot of it stems from my belief in Shopify’s founder and CEO Tobias Lütke. I’ve been an admirer of Lütke for a long time now. I believe he is a visionary in the world of e-commerce and a broad-thinker.
In 2018, he recorded an interview with Shane Parrish of the Farnam Street blog and Knowledge Project podcast — both of which are well worth the investment. I’d highly recommend you give it a listen over the weekend.