https://twitter.com/zachperret/status/1521898404061716480
I think Zach knows his product very well & this could be espionage on Stripe's part, but I'm not dissatisfied with Stripe's product nonetheless.
Disclaimer: I've never used Plaid.
So if I am working for a top 10 bank, and I see value in a solution, if I cannot get it cheaper than it would cost me to develop it and time is not that big of a factor, I build it myself. If there are no time constraints and vendor can deliver solution at roughly the same cost I can build it for, I built it myself.
My guess as not being part of the stripe/plaid conversations or RFP. Zach's lawyers did not redline or challenge language around processes or IP with Stripe in RFP Agreements and that was likely the biggest downfall.
Plaid does have great litigation attorney's, I mean their class action settlement was only $58 million. So likely, Plaid might get something if there is IP that was protected. It will come out in discovery if a lawsuit gets legs.
It read like conjecture at best, and inaccurate information at worst.
If MX and Finicity are aggregators of aggregators, that would still mean Plaid would benefit, right? Maybe you (and your sales team) do not know your competition.
Publicly airing grievances as well against Stripe, who you could potentially partner with in the future, reflects an underlying toxic corporate culture at Plaid. I do not think Stripe will likely ever want to do business with you after this and prevent others from doing the same. I have never worked at Plaid, but I am not inclined to want to work with you based on what we are seeing here. Plaidsettlment.com