Jim McKelvey co-founded the Square, a payment –processing startup, in 2009. He recently founded a new startup, Invisibly. This startup empowers the consumers to know how personal data is monetized by the advertisers. Square Co-Founder is also the author of the book, “The Innovation Stack: Building an unbeatable business one crazy idea at a time”. In that book, he shares the story of Square. He also shares his philosophy for building companies that disrupt the market. In the interview with Inc., he reveals the predictions he has made for the future of finance. And how it will affect the entrepreneurs and customers.
McKelvey says that individuals should own their data; companies have no right in making a profit through customer data and monetize it for ads. Even the companies that say that they are free service providers, actually are not. The cost that individuals pay is their identity. This is the problem that his startup called, Invisibly will be catering to.
Here is what the Square Co-Founder and Invisibly Founder, Jim McKelvey, has to say about the chaos in life.
He says, “Chaos opens people’s minds. The innovators of the world are living in a golden age right now. People are more open to new ways of doing things now than they will be for the next 50 years.”
Whereas, all the millennials feel that chaos is a bad thing. But here is a different view of the Square Co-Founder. He considers chaos makes people go through complex decision making. This decision- making process widens the thinking horizons, making the people go through brainstorming. Brainstorming develops the creativity and negotiating skills in people. Chaos and confusion are like a ray of hope in a dense forest, as near- chaos can lead to long- term clarity in life. He considers chaos good for mental health.