Patrick Collison

Background

Patrick Collison was born in 1988 in Dromineer, County Tipperary, Ireland. He was homeschooled in his early years before attending the University of Limerick at age 16. He later transferred to the Massachusetts Institute of Technology (MIT) but left before completing his degree to focus on his entrepreneurial ventures. His early career was marked by the development of software, including the programming language Croma, which won the 41st Young Scientist and Technology Exhibition in 2005. In 2007, he co-founded his first company, Shuppa, with his brother John, which later became Auctomatic. The company was acquired for $5 million in 2008, when Collison was 19 years old.

Major Contributions

Patrick Collison is best known as the co-founder and CEO of Stripe, an online payment processing platform. He co-founded the company in 2010 with his younger brother, John Collison. Stripe's core invention was a developer-friendly API that simplified the integration of payment systems into websites and mobile applications, abstracting away the underlying complexity of financial regulations and bank transactions. Beyond Stripe, Collison has been a significant proponent of and investor in scientific research and technological progress. He has co-authored essays and supported initiatives focused on accelerating scientific and technological development.

Impact on their Field

Stripe's API-first approach fundamentally changed the e-commerce and internet economy landscape. It lowered the barrier to entry for startups and established businesses to accept online payments, enabling the growth of countless internet companies. The company's infrastructure is now a critical backbone for online businesses globally, processing hundreds of billions of dollars in transactions annually. Collison's advocacy for increased scientific funding and more effective research organizations has also influenced public discourse on innovation policy and the rate of technological progress.

Current Work/Relevance

Patrick Collison remains the CEO of Stripe, guiding the company's strategy as it expands into new financial services and international markets. He is actively involved in the intellectual discourse surrounding progress studies, a field examining the factors that drive scientific and technological advancement. He co-authored the article "Fast," which argues for accelerating progress, and supports related research efforts. Collison also serves on the board of the research organization Arc Institute and is a signatory of the Giving Pledge, committing the majority of his wealth to philanthropy.

Patrick Collison is an Irish entrepreneur and technology leader, best known as the co-founder and CEO of Stripe, a multi-billion dollar online payments company. Born in 1988 in Dromineer, Ireland, he showed an early aptitude for programming, winning the Young Scientist of the Year award at 16. He briefly attended the Massachusetts Institute of Technology (MIT) before dropping out to pursue his entrepreneurial ambitions, a path that would quickly lead to global recognition.

Why He Matters

Patrick Collison matters because he co-created a foundational technology that powers the modern internet economy. Stripe simplified the complex process of accepting online payments, making it accessible for startups and giant corporations alike. Under his leadership, Stripe has grown into one of the world's most valuable private companies, empowering millions of businesses to operate online. His work has been instrumental in enabling the growth of e-commerce, the creator economy, and countless digital platforms we use every day.

What He's Known For

Patrick Collison is most famous for co-founding Stripe with his younger brother, John, in 2010. The company is his life's work and his primary public identity. Beyond Stripe, he is known for his intellectual curiosity and advocacy for scientific and technological progress. He often engages with and funds ambitious research initiatives. He is also a prominent signatory of the "Fast Action" letter, advocating for accelerated vaccine development, showcasing his interest in applying technology and efficiency to solve large-scale global problems.