Hacker News Reader

Comment by arkitaip | Hacker News Reader

This IS terrific news if you are using Stripe and want to stick with them as your one payment solution.

Until adoption increases enough and they decide they can milk customers even more?

Really? What has stripe done in the past to make it feel like they’re being greedy? Besides, nobody is using stripe because it’s the cheapest option.

> What has stripe done in the past

Take VC funding.

I'm being glib, but honestly - it feels like every large vc funded company is actually some many-layered plan to take over existing markets, and then exploit their new monopoly

That’s exactly the point of VC largely - no really, that’s no secret at all.

VCs want unicorns. To get that big you often have to be the biggest in the space or big enough with enough moat to effectively be a monopoly. Monopoly status is the goal

So why is VC funding considered a Good Thing® and actively promoted as the way businesses should be created, when literally everybody agrees monopolies are a bad thing?

Because everybody wants to be a monopoly but nobody wants to be monopolized.

Not sure what you mean. It’s definitely glamorized, just like working a high paying finance job is (but I don’t think many would call Wall Street ethical or moral). Lots of people want to be VC backed because it’s great for you, but it’s more complicated whether it’s great for anyone else

They stopped refunding payment processing fees on refunds, for one.

Long after other comparable gateways had already stopped refunding those too.

Reply on news.ycombinator.com