[ryanwaggoner]

But I heard that Square was totally irrelevant because they were only "innovating" based on the outdated paradigm of the credit card system.

/sarcasm

Don't confuse where a startup is today with where they're headed. Sometimes you have to tack against the wind to get to where you ultimately want to end up. The best startups are those that can make money while also setting up for a huge play that no one else is positioned to pull off.