Investing in companies that hit $100m ARR in <1 year is not the only way to win in VC.
The essence of venture capital has never been about immediate revenue; it's been about providing support to founders who have strong strategic positioning and a chance at revenue.
In a war of attrition, Coinbase wins. We need regulated reputable companies doing good for Crypto not cowboys like FTX, Binance etc. This is real money; the future of money and making it as easy to send P2P as an email. @brian_armstrong is the few I trust to realise this.
Since the founding of Coinbase back in 2012 we have taken a long-term view. I knew we needed to embrace compliance to become a generational company that stood the test of time. We got the licenses, hired the compliance and legal teams, and made it clear our brand was about trust with our customers and following the rules. We wanted to increase transparency and raise the bar on trust, so we became a public company in 2021.
This meant we couldn't always move as quickly as others. It's more difficult and expensive to take a compliant approach. You can't launch every product that customers want when it’s illegal. But it's the right approach because we believe in rule of law.
Today's news reinforces that doing it the hard way was the right decision. We now have an opportunity to start a new chapter for this industry. We took a lot of arrows operating here in the U.S. due to the lack of regulatory clarity, and my hope is that today's news serves as a catalyst to finally achieve that. Americans should not have to go to offshore unregulated exchanges to benefit from this technology. This industry should be built right here in America, in a compliant way, under U.S. law. We're going to stay here in the U.S. because we believe in economic freedom and that the U.S. democratic system will eventually get this right.
Decentralization and crypto is a powerful tool to update the financial system and build a global economy with more economic freedom. We're just getting started 🚀
X should implement a feature called "On This Day."
It would rewind the timeline to any given day since Twitter's founding to let you feel the pulse of the moment. A crucial tool for modern historians.
@sairarahman Do whatever to protect them. Coming from a guy who spent 6 weeks in hospital with my newborn cause a family member gave her bronchitis resulting in 2 collapsed lungs and 10 days in ICU.
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Proud of team for going 0 to 1.
Twitter has broken just about every piece of this FTX story using blockchain analytics, while NYT is writing puff pieces on a criminal.
Feels like a turning point for citizen journalism and loss of trust in MSM.
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@leoubbiali You like Company B because of the flat retention curve. While A is higher, it hasn’t flattened and could have a worse retention rate beyond 12 months. That said, the biz model and LTV of users would be a huge factor between choosing between the companies.