"Peter Thiel says, you have to be contrarian but right to be an entrepreneur.
So, you have to be comfortable looking stupid for a long time.
When I was calling those banks and saying, "Hey, we're a crypto company. We want to do this," they would hang up on me.
Or I'd go pitch the 30th venture investor and get a no.
Or the thousandth employee we tried to hire or whatever.
We're willing to be misunderstood for a long time.
And then you slowly start to have these breakthroughs.
If you look at Uber, they were fighting for a decade to just be like, yeah, it's actually better and safer than a cab — and the entrenched interests were fighting them.
Or Airbnb with the hotels.
Self-driving cars.
Everything that's truly innovative and breakthrough is going to upset an entrenched incumbent, eventually intersect with the government, and just piss off some segment of the population who are like...
"How dare you question the status quo."
—
@brian_armstrong
My conversation with
@brian_armstrong, co-founder and CEO of
@coinbase and
@newlimit.
0:00 Crypto Power in DC
0:25 Market Structure Clarity
1:39 SEC Lawfare Origins
5:49 Suing the Regulator
9:09 Winning the SEC Case
11:11 Long Term Founder Mindset
12:20 Autism and Focus
15:04 Mission First Company Culture
21:10 Rebuilding From Scratch
23:05 Follow Your Nose
25:20 From Side Hustles to Coinbase
30:07 Argentina and Bitcoin Spark
32:33 Airbnb to Coinbase Nights
36:25 Finding a Co-founder
37:35 YC Without a Co-founder
38:41 Finding the Perfect Partner
40:18 Losing Money Per Trade
41:23 Support Backlog Chaos
43:29 Banking and Compliance Gauntlet
47:47 Raising Fast to Survive
51:36 Mission Values and Inspiration
57:54 Hiring for Spikes
1:02:14 Centralized vs Decentralized
1:05:51 From Bitcoin Wedge to Super App
1:07:59 How Coinbase Runs Today
1:11:00 Decision Speed and Risk
1:12:43 Internal Venture Bets
1:14:46 Funding Ideas Internally
1:15:18 Coinbase Marketing Experiments
1:16:56 Internet Native Shareholder Updates
1:21:58 Media Diet and Going Direct
1:26:47 Building a New Industry
1:31:44 Starting New Limit Longevity
1:36:17 CEO Stress and Routines
1:40:59 AI Agents at Coinbase
1:44:35 Base App Explained
1:46:47 Other Bets and SEZs
1:49:21 Closing Thanks
Includes paid partnerships.