Jim McKelvey

Jim McKelvey has now started close to a dozen different for-profit and nonprofit ventures, including Square. Now he’s tackling the problems we face on the internet every day, with the backing of Peter Theil as an investor. His venture has also attracted funding from other financiers like GGV Capital, Morgan Stanley, Vanguard Group, and Omega Venture Partners.

In this episode of Fika with Rice, host Fredrik van Huynh dives deep into the philosophies of the innovation billionaire, author, and serial entrepreneur Jim McKelvey. Learn how to solve problems in a new way and do something that has never been done. It's time to innovate your mind! 

Jim McKelvey was about to sell a piece of his glass blowing which hadn't moved from the shelf in years if it weren't for the fact that smart phones couldn't accept credit cards. This was the crazy idea that lead to him to build Square in 2009. To Jim's wonder, Square triumphed over it's behemoth competitor, Amazon. Jim studied what Square had done differently. That's when he saw it. A strategy he now calls the Innovation Stack. Discover how to become competition-proof and build an unbeatable business. Subscribe for ad-free interviews and bonus episodes https://plus.acast.com/s/the-unmistakable-creative-podcast. Hosted on Acast. See acast.com/privacy for more information.

Jeff speaks to serial entrepreneur and tech legend Jim McKelvey about entrepreneurship, his founding of ‘Square,’ and his fascinating new take on innovation that emerged from that experience. Jim shares this innovation theory in his book: “Innovation Stack: Building an Unbeatable Business One Crazy Idea at a time.” Jeff and Jim also talked about his new start up “Invisibly,” Jim’s loyalty to St Louis, and what it’s like to work with Jack Dorsey. A long-time entrepreneur, Jim explains how he built his first software company out of the proceeds of his glass-blowing business. Jim’s Square story will have you on the edge of your seat! Square wasn’t just a single innovation, but instead a creative new ‘Innovation Stack’ comprised of 14 interlocking and interdependent breakthroughs. Jim touches on the importance of an emotional connection with a product and why it can make sense to spend $1 on the product and $2 on the box. Enjoy a discussion with one of the innovation legends of our time!

Today's guest is a NYT Bestselling Author, the Co-Founder of Square, the Chairman of the St Louis Federal Reserve, and a Professional Glass Blower. That’s not all either. Jim McKelvey is one of the most purebred entrepreneurs we’ve ever met, and he’s here to help us tell ourselves the truth about innovation, entrepreneurship, and how to stack your laptop on laundry baskets for a zoom call. What we discuss with Jim McKelvey:00:25 - Paul recounts how he was introduced to Jim’s book, “The Innovation Stack,” and how it completely changed his perspective on entrepreneurship. Jim offers a realistic and hope filled look at entrepreneurship by creating a space where it’s normal to fail often and learn from one’s mistakes — a stark contrast to the beaming “checklist” culture that has been perpetuated online. 04:31 - Jim immediately disarms any nerves Paul, Kyle, and Michael might’ve had prior to the interview by joining from a remote cabin in Wisconsin. “Total disclosure, this is the bedroom ‘cuz it’s the quietest room in the house and I’ve got my laptop stacked on laundry baskets.” 05:28 - Jim offers his thoughts about everything that’s happening inside the retail automobile industry from his vantage point as an “outsider.”“It’s really interesting. You’ve got some direct sales models that are breaking up dealerships, cars are lasting longer, so service is becoming a greater profit component than sales. The used car market is crazy. One of my friends runs Enterprise, so I get to hear about buying cars by the tens of thousands, and it’s nuts!”08:40 - In addition to being the founder of Square, Jim is also involved deeply in the economist side of small businesses and the role they play in the economy. As the Chair of the St. Louis Federal Reserve, Jim has a unique vantage point into economic drivers and what possible impacts there may be across several industries, including automotive. He explains that automotive is a great leading indicator for the rest of the economy, albeit skewed by the last two years of the pandemic. “Does the chip shortage sort of mess up that indicator? If we could get the car, we’d buy the car, but we can’t get the car so we’re going to satisfy ourselves with something else.”11:54 - Is it even possible to create a predictable business formula when the last two years have provided a skewed outlook on the market? “It's driving predictable business people. Crazy. Like if you're used to following a formula and that formula's been working for 25 years, the last thing you want is what we've just lived through. And we're what we're gonna go live through. Like, it's, it's just so much change. And what I talk about a lot in the book is that there's this mindset of the entrepreneur and it's not something that's pleasant.”Listen to the full episode for more insights and context from our conversation with Jim McKelvey!⭐️ Love the podcast? Please leave us a review here — even one sentence helps! Consider including your LinkedIn or Instagram handle so we can thank you personally! We have a newsletter! ✉️ Sign up for our free and fun-to-read daily email for a quick shot of relevant news in automotive retail, media, and pop culture. 

Finding the perfect problem is like falling in love. You can’t always choose the when or the what, but when it happens, you need to be ready to take action. In the second half of this two-part episode with Jim McKelvey, author of The Innovation Stack, we dive into the ways that finding your perfect problem parallels falling in love, and why having a lot of money doesn’t solve all business problems; often it creates more.More About Jim: Jim McKelvey is a glassblower, father, entrepreneur, author, aviator, computer programmer, chairman of the St. Louis Federal Reserve, and inventor, and that is just scratching the surface. As for where to connect? As he puts it, “Please don’t ask me to connect on Facebook, WhatsApp or Instagram. I’m not there. I’ve got better things to do. And frankly, so do you.”🌟 3 Key Takeaways: The right problem chooses you. Be aware enough of your process to know when a problem is calling you. The problem with expertise is that it only reflects what has been done. Don’t disqualify yourself from picking up tools and trying to fix new problems. You have gifts in a wide variety of different areas, so think about how you can mix and match them to help you solve the problems you’re passionate about.  💌 Permission: Charge people for your time, and bill for your attention.✅ Do (or Delegate) This Next: Put your time into a new perspective. Are you spending too much time on things that don’t matter instead of solving your perfect problem?📘 Books Mentioned: Free Time: Lose the Busywork, Love Your Business Pivot: The Only Move That Matters Is Your Next One The Innovation Stack: Building an Unbeatable Business One Crazy Idea at a Time Resources Mentioned:  Jim on the web, Twitter, LinkedIn PayMail Chrome Extension Gotham Podcast Studio VICE special on 🐍 Burmese Pythons in the Everglades Related Podcast Episodes: 043: From Start-Up to Grown-up (and Coach to Author) with Alisa Cohn, 097 How to Find Your Perfect Problem with Jim McKelvey💻 Access Free Time episode transcripts on Podscribe »❤️ Enjoying the show? The best way to thank us is by leaving a rating or review. Consider becoming a podcast BFF and you’ll get access to a monthly Q&A call with Jenny, a private feed, and access to a community forum with fellow Heart-Based Business Owners.💌 Subscribe to the Time Well Spent newsletter: http://itsfreetime.com/join🛠 Get instant access to the Free Time Toolkit: http://itsfreetime.com/tools 💬 I’d love to hear what’s on your mind! Take the Free Time listener survey🗣 Submit a voice question or comment for future episodes: http://itsfreetime.com/ask🎧 Make sure you’re subscribed wherever you listen to podcasts📝 Check out full show notes and links from this episode and share it with a friend! https://itsfreetime.com/episodes/099 Learn more about your ad choices. Visit megaphone.fm/adchoices

How can you find — and attempt the great feat of solving — your perfect problem? That’s what I’m talking about today with my guest, Square co-founder Jim McKelvey. His book, The Innovation Stack: Building an Unbeatable Business One Crazy Idea at a Time, is one of the funniest and most engaging business books I’ve read. We met at TED through our mutual friend Jon Levy, and had the great joy of recording together in person at a studio in midtown Manhattan. In the first half of this two-part episode, we delve into fending off an attack from “the perfect predator” of competition, Amazon.More About Jim: Jim McKelvey is a glassblower, father, entrepreneur, author, aviator, computer programmer, chairman of the St. Louis Federal Reserve, and inventor, and that is just scratching the surface. As for where to connect? As he puts it, “Please don’t ask me to connect on Facebook, WhatsApp or Instagram. I’m not there. I’ve got better things to do. And frankly, so do you.”“People who want to build something new often feel they lack sufficient expertise. Their assertion is correct, but not complete. The same lack of expertise applies to everyone on the planet. Innovation has no experts.” —Jim McKelvey🌟 3 Key Takeaways: No expert has to tell you that something is a problem, you just know. A real problem is obvious. A perfect problem is one that excites you, has never been solved, and with enough work and the right team, can be solved by you.  Change and innovation is messy, which means that great solutions are usually many tiny solutions that all work together.  💌 Permission: Charge people for your time, and bill for your attention. ✅ Do (or Delegate) This Next: Be an observer this week: what problems are consuming your energy and attention, perhaps with a zing of excitement and possibility`? Could you be in a unique position to solve them?  📘 Books Mentioned: Free Time: Lose the Busywork, Love Your Business Pivot: The Only Move That Matters Is Your Next One The Innovation Stack: Building an Unbeatable Business One Crazy Idea at a Time Resources Mentioned:  Jim on the web, Twitter, LinkedIn PayMail Chrome Extension Gotham Podcast Studio Video: VICE special on 🐍 Burmese Pythons in the Everglades Related Podcast Episodes: 043: From Start-Up to Grown-up (and Coach to Author) with Alisa Cohn💻 Access Free Time episode transcripts on Podscribe »❤️ Enjoying the show? The best way to thank us is by leaving a rating or review. Consider becoming a podcast BFF and you’ll get access to a monthly Q&A call with Jenny, a private feed, and access to a community forum with fellow Heart-Based Business Owners.💌 Subscribe to the Time Well Spent newsletter: http://itsfreetime.com/join🛠 Get instant access to the Free Time Toolkit: http://itsfreetime.com/tools 💬 I’d love to hear what’s on your mind! Take the Free Time listener survey🗣 Submit a voice question or comment for future episodes: http://itsfreetime.com/ask🎧 Make sure you’re subscribed wherever you listen to podcasts📝 Check out full show notes and links from this episode and share it with a friend! https://itsfreetime.com/episodes/097 Learn more about your ad choices. Visit megaphone.fm/adchoices

Square co-founder Jim McKelvey is out with a new book that takes a new look at companies that try to do things in new ways. He studies several examples of people who have used new methods and ideas to upend industries and looks for commonalities between them. He tells Tristan what he found. Buy The Innovation Stack here: https://amzn.to/3LxxVv2See omnystudio.com/listener for privacy information.

When Jim McKelvey and Jack Dorsey were building Square, they were met with legal issues, major challenges from Amazon, and more. But necessity is the mother of innovation, and anger is the fuel that kept Jim going. Hear the lessons Jim and Jack learned and where Jim thinks the world of content is headed on this episode. Tune in to learn:How did Square beat Amazon? (2:00)How did Jim and Jack Dorsey build Square? (6:00)How do you create the idiot-proof inbox? (11:00)Is a newsfeed just a digital feedlot? (15:015)Can you incentivize good content and, as a result, save journalism? (20:00)How should we think about de-centralized systems and why is it good to have rules and regulations? (25:12)What’s the first step to disruption? Anger (34:00)Up Next in Commerce is brought to you by Salesforce Commerce Cloud. Learn more at salesforce.com/commerceMission.org is a media studio producing content for world-class clients. Learn more at mission.org.

Jim McKelvey is the co-founder of Square, chair of the St. Louis Fed, and founder of Invisibly. He joins Big Technology Podcast to discuss whether the Fed should still hike interest rates given the markets' slowdown and the conflict in Ukraine. Stay tuned for a discussion of how Jim tolerates risk, why he's not building his new startup on the blockchain (aka: Web3), and a preview of our SXSW featured session: The Future of The Data Economy: Putting People First, taking place March 11 in Austin.