API-First Business Model = Focus

Journey

Will be finishing my last university report today. It’s based on how dyslexic kids with the right support system end up building incredible resilience.

It’s a fact that 40% of billionaires are dyslexic. There’s Henry Ford, Charles Schwab, Richard Branson, Walt Disney and many others. Pretty cool stuff.

Insight

API-first business model is pretty interesting.

Imagine working on the payments team at YouTube.

The core product is focused on giving creators the best tools to share their content and helping people find the content they love.

Building the payments infrastructure from the ground up at any company is basically reinventing the wheel.

“Instead of hiring armies of engineers and spending management brainpower on a second-class product outside of its core competency, it can pay Stripe to handle all of that.” – Not Boring

Stripe’s expertise lies in building solutions to collect payments, manage subscriptions, lower fraud, push faster payouts, accept international payments, and countless other things to offer a seamless customer experience.

Also, being an end-to-end payments platform, Stripe not only builds the software but also takes care of compliance, regulatory risk and bank partnerships.

Imagine if every company had to figure out all that stuff.

They would be working on something totally outside their core competency and diverting the team’s focus from the actual product.

By leveraging API-first products like Stripe, Twilio Inc.Okta, Inc.Plaid – companies can focus on what they do best while the API handles a specific vertical at a much lower cost.

There are many other API-first players who’re making the lives of founders easier. They’re focused on perfecting their vertical, so that new companies can leverage them and focus on what they do best.

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