That is not true. Multiple Stripe customers have layoff due to slow down revenue growth themselves.

For example, Lyft is laying off people today.

Are we in a different universe or what?

Yes, Stripe customers have seen slowing growth post-COVID which is why Stripe’s pace of share gain has slowed. Macro, ie nominal consumer expenditures, has remained strong.

Stripe is a growth company. When it doesn't grow, it has to scale back.

> nominal consumer expenditures, has remained strong.

Compared to when? Not last year for sure.

Do you know what “nominal consumer expenditures” means?

https://fred.stlouisfed.org/series/PCE

I think we talk about two different things.

You threw out random metrics and claimed it is still growing therefore Stripe's revenue should not slow down.

I claimed that two of the largest Stripe customers have their revenue slowing down, and this slows down stripe revenue. These 2 are just examples. Uber, Doordash, and many more companies who are Stripe customers also have their revenue slowing down.

Do you think you metrics is more relevant than stripe customers' revenue?

Stripe earns when their customers earn. My metrics is the most direct one.

Also, online purchase is only 15-20% of all purchases by volume. And we haven't accounted for Paypal, Square, and etc. Your metrics is crap...

You’re saying Stripes growth slowed because their customers growth slowed. Given the nature of Stripes business, this is tautological.

I’m saying, Stripes deceleration is not due to macro (ie overall macroeconomic conditions), but a result of post-Covid normalization in the business results of its customers. This is obvious, as overall nominal PCE have not slowed.