title
Brian Armstrong: Coinbase, Cryptocurrency, and Government Regulation | Lex Fridman Podcast #307

description
Brian Armstrong is the CEO of Coinbase. Please support this podcast by checking out our sponsors: - Audible: https://audible.com/lex - Skiff: https://skiff.org/lex - BiOptimizers: http://www.magbreakthrough.com/lex to get 10% off - Fundrise: https://fundrise.com/lex - Athletic Greens: https://athleticgreens.com/lex and use code LEX to get 1 month of fish oil EPISODE LINKS: Brian's Twitter: https://twitter.com/brian_armstrong Brian's Instagram: https://www.instagram.com/brian_armstrong Coinbase's Website: https://www.coinbase.com ResearchHub: https://www.researchhub.com NewLimit: https://www.newlimit.com/ PODCAST INFO: Podcast website: https://lexfridman.com/podcast Apple Podcasts: https://apple.co/2lwqZIr Spotify: https://spoti.fi/2nEwCF8 RSS: https://lexfridman.com/feed/podcast/ Full episodes playlist: https://www.youtube.com/playlist?list=PLrAXtmErZgOdP_8GztsuKi9nrraNbKKp4 Clips playlist: https://www.youtube.com/playlist?list=PLrAXtmErZgOeciFP3CBCIEElOJeitOr41 OUTLINE: 0:00 - Introduction 1:49 - Programming 7:47 - Coinbase 38:35 - Startup advice 56:26 - Economic freedom 1:05:36 - Coinbase technology 1:17:03 - Listing on Coinbase 1:26:17 - Regulations 1:40:55 - Crypto dominance 1:45:12 - Employee activism 2:01:30 - Leadership 2:04:09 - ResearchHub 2:13:47 - NewLimit 2:18:15 - Advice for young people 2:22:25 - Meaning of life SOCIAL: - Twitter: https://twitter.com/lexfridman - LinkedIn: https://www.linkedin.com/in/lexfridman - Facebook: https://www.facebook.com/lexfridman - Instagram: https://www.instagram.com/lexfridman - Medium: https://medium.com/@lexfridman - Reddit: https://reddit.com/r/lexfridman - Support on Patreon: https://www.patreon.com/lexfridman

detail
{'title': 'Brian Armstrong: Coinbase, Cryptocurrency, and Government Regulation | Lex Fridman Podcast #307', 'heatmap': [{'end': 5834.067, 'start': 5730.985, 'weight': 0.98}, {'end': 7270.03, 'start': 7169.785, 'weight': 1}], 'summary': "Brian armstrong, ceo of coinbase, discusses sec probe, challenges of regulating cryptocurrencies, and financial freedom impact. he also shares his programming journey, coinbase's services, tracking user identification, startup challenges, crypto's impact, regulation, nfts, and open science efforts.", 'chapters': [{'end': 88.616, 'segs': [{'end': 27.193, 'src': 'embed', 'start': 0.049, 'weight': 0, 'content': [{'end': 5.291, 'text': 'The following is a conversation with Brian Armstrong, co-founder and CEO of Coinbase,', 'start': 0.049, 'duration': 5.242}, {'end': 13.093, 'text': 'the largest cryptocurrency exchange platform with 98 million users in 100 countries, listing Bitcoin, Ethereum,', 'start': 5.291, 'duration': 7.802}, {'end': 16.373, 'text': 'Cardano and over 100 popular cryptocurrencies.', 'start': 13.093, 'duration': 3.28}, {'end': 27.193, 'text': "I recorded this conversation with Brian before this week's SEC probe into whether some of the crypto listings are securities and thus need to be regulated as such.", 'start': 17.406, 'duration': 9.787}], 'summary': 'Coinbase, with 98m users in 100 countries, faces sec probe over crypto listings.', 'duration': 27.144, 'max_score': 0.049, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k49.jpg'}, {'end': 88.616, 'src': 'embed', 'start': 41.162, 'weight': 1, 'content': [{'end': 46.726, 'text': 'social and philosophical ideas underlying this new form of money, energy and information.', 'start': 41.162, 'duration': 5.564}, {'end': 57.676, 'text': 'Our world runs on money, the exchange and store of value, and cryptocurrency seeks to build the next chapter of how money works and what it can do.', 'start': 47.866, 'duration': 9.81}, {'end': 65.883, 'text': 'Coinbase and Brian are trying to do this by working together with regulators and governments, which is a long and difficult road.', 'start': 58.737, 'duration': 7.146}, {'end': 70.367, 'text': 'Bureaucracies resist change, for better and for worse.', 'start': 66.786, 'duration': 3.581}, {'end': 74.029, 'text': 'The latest SEC probe is a good representation of this.', 'start': 71.268, 'duration': 2.761}, {'end': 83.652, 'text': 'It is a serious attempt to limit fraud, but one that also runs the risk of limiting innovation and limiting financial freedom of individuals.', 'start': 74.769, 'duration': 8.883}, {'end': 88.616, 'text': 'This is a complicated mess, and I applaud everyone involved for trying to work through it.', 'start': 84.472, 'duration': 4.144}], 'summary': 'Cryptocurrency aims to redefine money, facing regulatory challenges and potential limitations on innovation and financial freedom.', 'duration': 47.454, 'max_score': 41.162, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k41162.jpg'}], 'start': 0.049, 'title': 'Coinbase ceo on cryptocurrency and regulation', 'summary': 'Delves into a conversation with brian armstrong, co-founder and ceo of coinbase, the largest cryptocurrency exchange platform with 98 million users in 100 countries, discussing the sec probe, the challenges of regulating cryptocurrencies, and the potential impact on financial freedom amidst the growing popularity of cryptocurrencies.', 'chapters': [{'end': 88.616, 'start': 0.049, 'title': 'Coinbase ceo on cryptocurrency and regulation', 'summary': 'Delves into a conversation with brian armstrong, co-founder and ceo of coinbase, the largest cryptocurrency exchange platform with 98 million users in 100 countries, discussing the sec probe, the challenges of regulating cryptocurrencies, and the potential impact on financial freedom amidst the growing popularity of cryptocurrencies.', 'duration': 88.567, 'highlights': ['Coinbase, with 98 million users in 100 countries, is the largest cryptocurrency exchange platform, listing Bitcoin, Ethereum, Cardano, and over 100 popular cryptocurrencies.', 'The SEC probe into certain crypto listings as securities poses a potential challenge to innovation and financial freedom, despite aiming to limit fraud.', 'Cryptocurrency aims to revolutionize the fundamental technological, economic, social, and philosophical aspects of money and information, seeking to redefine how money works and what it can do.', 'Working with regulators and governments is a long and difficult road for Coinbase and Brian Armstrong in their endeavor to shape the next chapter of money.', 'The conversation aims to transcend the distraction of cryptocurrency price fluctuation, focusing on the underlying ideas of this new form of money, energy, and information.']}], 'duration': 88.567, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k49.jpg', 'highlights': ['Coinbase, with 98 million users in 100 countries, is the largest cryptocurrency exchange platform, listing Bitcoin, Ethereum, Cardano, and over 100 popular cryptocurrencies.', 'The SEC probe into certain crypto listings as securities poses a potential challenge to innovation and financial freedom, despite aiming to limit fraud.', 'Cryptocurrency aims to revolutionize the fundamental technological, economic, social, and philosophical aspects of money and information, seeking to redefine how money works and what it can do.', 'Working with regulators and governments is a long and difficult road for Coinbase and Brian Armstrong in their endeavor to shape the next chapter of money.', 'The conversation aims to transcend the distraction of cryptocurrency price fluctuation, focusing on the underlying ideas of this new form of money, energy, and information.']}, {'end': 1105.509, 'segs': [{'end': 295.32, 'src': 'embed', 'start': 262.581, 'weight': 0, 'content': [{'end': 266.184, 'text': 'So I was never the best computer scientist, but I was a good, I was a good hacker.', 'start': 262.581, 'duration': 3.603}, {'end': 270.047, 'text': 'I could rapidly prototype products and using languages like Ruby.', 'start': 266.204, 'duration': 3.843}, {'end': 275.369, 'text': 'do. a lot of computer science programs still use, like lisp and scheme and things like that.', 'start': 270.527, 'duration': 4.842}, {'end': 278.25, 'text': "no, no, they do, for that's like that's.", 'start': 275.369, 'duration': 2.881}, {'end': 281.892, 'text': "if you're hardcore, if you're legit, you're gonna do some of the functional languages.", 'start': 278.25, 'duration': 3.642}, {'end': 283.292, 'text': "yeah, i think there's a.", 'start': 281.892, 'duration': 1.4}, {'end': 288.574, 'text': "there's a few others that popped up, but lisp is a distant memory for a lot of people.", 'start': 283.292, 'duration': 5.282}, {'end': 295.32, 'text': "that's like somebody said like you go to library, you dust off the book But scheme a little bit.", 'start': 288.574, 'duration': 6.746}], 'summary': 'The speaker is skilled in hacking and rapid prototyping using languages like ruby, and discusses the use of functional languages like lisp and scheme in computer science programs.', 'duration': 32.739, 'max_score': 262.581, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k262581.jpg'}, {'end': 400.219, 'src': 'embed', 'start': 374.808, 'weight': 1, 'content': [{'end': 380.791, 'text': "HTML The Stack Exchange surveys show JavaScript's the most popular language in the world, I think, right? Oh, yeah.", 'start': 374.808, 'duration': 5.983}, {'end': 383.332, 'text': 'In terms of programmers and numbers of, I wonder.', 'start': 381.211, 'duration': 2.121}, {'end': 389.054, 'text': 'By survey of number of programmers on Stack, Stack Overflow.', 'start': 385.493, 'duration': 3.561}, {'end': 394.376, 'text': "Oh, yeah, but that's also the cutting edge, right? Those are the people that are just excitedly writing code.", 'start': 389.094, 'duration': 5.282}, {'end': 394.676, 'text': "That's true.", 'start': 394.396, 'duration': 0.28}, {'end': 400.219, 'text': "I wonder if there's people that are just maintaining gigantic code bases.", 'start': 394.877, 'duration': 5.342}], 'summary': 'Javascript is the most popular language according to stack exchange surveys, with a focus on cutting-edge programmers and maintaining large code bases.', 'duration': 25.411, 'max_score': 374.808, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k374808.jpg'}, {'end': 451.321, 'src': 'embed', 'start': 421.563, 'weight': 2, 'content': [{'end': 424.925, 'text': "who's the figure still still there that holds the flag?", 'start': 421.563, 'duration': 3.362}, {'end': 428.367, 'text': 'I did, you know, who Java founder of Java, a creator of Java.', 'start': 425.325, 'duration': 3.042}, {'end': 433.81, 'text': 'creator of Python, creator of C++, but nobody wants to hold the flag for COBOL.', 'start': 428.747, 'duration': 5.063}, {'end': 438.693, 'text': 'Unfortunately, even though some of the most important systems in the world still run on,', 'start': 433.85, 'duration': 4.843}, {'end': 446.538, 'text': 'those like power systems and infrastructure systems which is fascinating and ATMs and stuff like that.', 'start': 438.693, 'duration': 7.845}, {'end': 451.321, 'text': 'A lot of stuff that we rely on that just works,', 'start': 447.158, 'duration': 4.163}], 'summary': 'Cobol, despite its importance, lacks a prominent figure to champion it, despite its crucial role in running vital systems like power, infrastructure, and atms.', 'duration': 29.758, 'max_score': 421.563, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k421563.jpg'}, {'end': 513.184, 'src': 'embed', 'start': 467.136, 'weight': 3, 'content': [{'end': 474.041, 'text': "let me ask the big question of uh, what are cryptocurrency exchanges and what's coinbase?", 'start': 467.136, 'duration': 6.905}, {'end': 475.062, 'text': 'how does it work?', 'start': 474.041, 'duration': 1.021}, {'end': 481.747, 'text': "before i'll ask even bigger questions, but it's just a nice kind of palette cleansing question of what is coinbase.", 'start': 475.062, 'duration': 6.685}, {'end': 487.522, 'text': 'Coinbase is a cryptocurrency exchange brokerage custodian.', 'start': 483.038, 'duration': 4.484}, {'end': 494.908, 'text': "Basically, we're the primary financial account for people in the crypto economy how they buy crypto, how they store it, how they use it,", 'start': 487.602, 'duration': 7.306}, {'end': 496.11, 'text': 'increasingly in different ways.', 'start': 494.908, 'duration': 1.202}, {'end': 496.93, 'text': 'We can talk about that.', 'start': 496.15, 'duration': 0.78}, {'end': 503.256, 'text': 'So yeah, we want to be the way that a billion people hopefully access the open financial system globally.', 'start': 498.592, 'duration': 4.664}, {'end': 513.184, 'text': "How does it work? What's cryptocurrency? There's Bitcoin, there's Ethereum.", 'start': 503.854, 'duration': 9.33}], 'summary': 'Coinbase is a cryptocurrency exchange serving as the primary financial account for people in the crypto economy, aiming to reach a billion users globally.', 'duration': 46.048, 'max_score': 467.136, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k467136.jpg'}, {'end': 634.724, 'src': 'embed', 'start': 610.03, 'weight': 4, 'content': [{'end': 616.534, 'text': 'um, so those are some of the pieces that had to come together to get that early simple buy, sell experience to work.', 'start': 610.03, 'duration': 6.504}, {'end': 620.036, 'text': 'and um, yeah, i mean coinbase actually has a lot of different products now.', 'start': 616.534, 'duration': 3.502}, {'end': 621.797, 'text': 'so we have like an institutional product.', 'start': 620.036, 'duration': 1.761}, {'end': 625.098, 'text': 'uh, we, we have coinbase commerce, which is like merchant payments like stripe.', 'start': 621.797, 'duration': 3.301}, {'end': 628.72, 'text': "for crypto, we've got a self-custodial wallet which we can talk about.", 'start': 625.098, 'duration': 3.622}, {'end': 630.321, 'text': "there's all kinds of cool applications.", 'start': 628.72, 'duration': 1.601}, {'end': 632.683, 'text': 'people are building with web3 and they can access it through that.', 'start': 630.321, 'duration': 2.362}, {'end': 634.724, 'text': 'we just just launched an nft product.', 'start': 632.683, 'duration': 2.041}], 'summary': 'Coinbase offers various products including nfts and self-custodial wallets.', 'duration': 24.694, 'max_score': 610.03, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k610030.jpg'}, {'end': 778.185, 'src': 'embed', 'start': 744.17, 'weight': 6, 'content': [{'end': 745.951, 'text': "And then there's some interesting slippage.", 'start': 744.17, 'duration': 1.781}, {'end': 756.417, 'text': 'How do you calculate how much slippage is allowed? How do you know these things? Because order books are fascinating.', 'start': 745.971, 'duration': 10.446}, {'end': 760.4, 'text': 'The dynamics of that is pretty interesting from the little I know about it.', 'start': 756.698, 'duration': 3.702}, {'end': 768.316, 'text': "yeah, so there's a lot of people like traders who get super into this and like high frequency traders and arbitrage and all kinds of interesting topics.", 'start': 760.768, 'duration': 7.548}, {'end': 770.878, 'text': 'flash boys was like an interesting book on this whole thing.', 'start': 768.316, 'duration': 2.562}, {'end': 778.185, 'text': 'you want like access to information the fastest, sometimes even putting your you know your thing in the data center right next to the thing.', 'start': 770.878, 'duration': 7.307}], 'summary': 'Order books and slippage are fascinating to traders, including high frequency traders and arbitrage enthusiasts.', 'duration': 34.015, 'max_score': 744.17, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k744170.jpg'}, {'end': 932.357, 'src': 'embed', 'start': 891.323, 'weight': 7, 'content': [{'end': 896.988, 'text': 'so we basically pay white hat hackers to find this stuff before the black hats do.', 'start': 891.323, 'duration': 5.665}, {'end': 899.771, 'text': "and um, we've paid out lots of good bug bounties.", 'start': 896.988, 'duration': 2.783}, {'end': 906.037, 'text': "so you know, try all the above and occasionally you don't get it right and you lose some money, and then you fix it and you keep going.", 'start': 899.771, 'duration': 6.266}, {'end': 910.061, 'text': "so yeah, let's talk about cyber security a little bit more.", 'start': 906.037, 'duration': 4.024}, {'end': 912.563, 'text': 'yeah, you mentioned using stolen bank accounts.', 'start': 910.061, 'duration': 2.502}, {'end': 914.085, 'text': "yeah, so that's another one.", 'start': 912.563, 'duration': 1.522}, {'end': 915.246, 'text': "that's another interesting one.", 'start': 914.085, 'duration': 1.161}, {'end': 916.347, 'text': 'how do you protect against that?', 'start': 915.246, 'duration': 1.101}, {'end': 921.233, 'text': 'Okay, so, fraud prevention, yeah, is a big topic.', 'start': 917.529, 'duration': 3.704}, {'end': 928.154, 'text': "There's a lot of things people do, but one of the things they do is that use machine learning right?", 'start': 921.253, 'duration': 6.901}, {'end': 932.357, 'text': 'So you look at 100- To protect or to attack? To protect against it.', 'start': 928.194, 'duration': 4.163}], 'summary': 'Paying white hat hackers for bug bounties, using machine learning for fraud prevention.', 'duration': 41.034, 'max_score': 891.323, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k891323.jpg'}], 'start': 89.477, 'title': "Brian armstrong's programming journey and coinbase's services", 'summary': "Explores brian armstrong's programming journey, from java to preferring php, ruby, and lisp, and discusses coinbase's role as a cryptocurrency exchange, brokerage, and custodian, offering a simple buy-sell experience, various products, and cybersecurity measures.", 'chapters': [{'end': 467.136, 'start': 89.477, 'title': 'Programming journey and language preferences', 'summary': "Explores brian armstrong's programming journey from the early days of java to the preference for php, ruby, and lisp, touching on the popularity of programming languages and the enduring relevance of older languages like cobol.", 'duration': 377.659, 'highlights': ["Brian Armstrong's early programming journey, starting with Java and later moving to PHP, Ruby, and Lisp, reflecting on the ease of learning and his personal preferences. Armstrong recalls starting with Java, finding it difficult, and later moving to PHP, which he found more enjoyable, followed by his affinity for Ruby and Lisp.", 'The discussion on the popularity of programming languages, including the shift from Java to Python in educational settings and the enduring relevance of PHP in back-end systems. The conversation touches on the shift from Java to Python in educational settings, the popularity of JavaScript, and the enduring relevance of PHP in back-end systems.', 'The exploration of older programming languages like COBOL and their continued significance in critical systems such as power and infrastructure, despite the lack of public recognition. The transcript delves into the enduring significance of older languages like COBOL in critical systems such as power and infrastructure, highlighting their importance despite the lack of public recognition.']}, {'end': 743.89, 'start': 467.136, 'title': 'Coinbase: cryptocurrency exchange and brokerage', 'summary': 'Discusses coinbase as a cryptocurrency exchange, brokerage, and custodian, aiming to be the primary financial account for people in the crypto economy, offering a simple buy-sell experience, along with various products, integrating with blockchains, and ensuring cybersecurity.', 'duration': 276.754, 'highlights': ["Coinbase's role as a primary financial account for people in the crypto economy, aiming to be the way a billion people access the open financial system globally. Coinbase's goal is to be the primary financial account for people in the crypto economy and aims to enable a billion people to access the open financial system globally.", 'The process of cryptocurrency exchange and brokerage, including order books, trade execution, and payment integrations, along with cybersecurity measures. Coinbase facilitates cryptocurrency exchange and brokerage through processes involving order books, trade execution, payment integrations, and robust cybersecurity measures.', "Coinbase's diverse products, including institutional products, merchant payments, self-custodial wallets, and NFTs, positioning itself as a portfolio of crypto products. Apart from its core buy-sell experience, Coinbase offers diverse products like institutional services, merchant payments, self-custodial wallets, and NFTs, presenting itself as a portfolio of crypto products."]}, {'end': 1105.509, 'start': 744.17, 'title': 'Financial trading dynamics and cybersecurity', 'summary': 'Explores the dynamics of financial trading, including slippage and fee calculations, and the strategies used to protect against cyber threats, such as fraud and hacking, by employing measures like bug bounty programs and machine learning-based fraud prevention.', 'duration': 361.339, 'highlights': ['The dynamics of financial trading, including slippage and fee calculations, are discussed, with an example of a 1% fee on Bitcoin transactions. The chapter explains the calculation of slippage and fee in financial trading, providing a specific example of a 1% fee on Bitcoin transactions.', 'The strategies used to protect against cyber threats, including the use of bug bounty programs, third-party audits, and machine learning-based fraud prevention, are highlighted. The chapter emphasizes the implementation of bug bounty programs, third-party audits, and machine learning-based fraud prevention as strategies to safeguard financial systems against cyber threats.', 'Specific factors and metrics used in machine learning-based fraud prevention, such as device fingerprints, improbable travel velocity, and keystroke dynamics, are explained. The transcript details the factors and metrics utilized in machine learning-based fraud prevention, including device fingerprints, improbable travel velocity, and keystroke dynamics.']}], 'duration': 1016.032, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k89477.jpg', 'highlights': ["Armstrong's programming journey: Java to PHP, Ruby, Lisp.", "Popularity of programming languages: Java to Python, PHP's relevance.", 'Significance of older languages like COBOL in critical systems.', 'Coinbase aims to be primary financial account for crypto economy.', "Coinbase's diverse products: institutional services, NFTs, etc.", 'Cryptocurrency exchange, brokerage, and cybersecurity measures.', 'Financial trading dynamics: slippage, fee calculations, example.', 'Strategies against cyber threats: bug bounty, audits, ML-based prevention.', 'Factors and metrics in machine learning-based fraud prevention.']}, {'end': 1647.169, 'segs': [{'end': 1167.643, 'src': 'embed', 'start': 1105.509, 'weight': 0, 'content': [{'end': 1117.455, 'text': "but it basically was like a proof of concept site that They would just show you all the data that was kind of getting sent over with your request and say that there's only one person in the world who has this exact set of data,", 'start': 1105.509, 'duration': 11.946}, {'end': 1117.835, 'text': "it's you.", 'start': 1117.455, 'duration': 0.38}, {'end': 1125.459, 'text': "And so it's almost like a workaround a clever workaround to track somebody identify a unique person,", 'start': 1118.055, 'duration': 7.404}, {'end': 1127.9, 'text': "even if there wasn't a cookie involved or something.", 'start': 1125.459, 'duration': 2.441}, {'end': 1131.282, 'text': "Yeah, this is a fascinating world where you can't see anybody.", 'start': 1128.4, 'duration': 2.882}, {'end': 1137.466, 'text': "you're in the dark and yet you have a lot of signal and you have to figure out who's a real person, who's not, who's a robot, who's not?", 'start': 1131.282, 'duration': 6.184}, {'end': 1138.927, 'text': 'Let me step back.', 'start': 1138.367, 'duration': 0.56}, {'end': 1140.428, 'text': "We're gonna jump around all over the place.", 'start': 1138.947, 'duration': 1.481}, {'end': 1141.169, 'text': 'Let me step back.', 'start': 1140.448, 'duration': 0.721}, {'end': 1142.049, 'text': "That's why I like your interviews.", 'start': 1141.189, 'duration': 0.86}, {'end': 1143.891, 'text': 'You get into like technical topics.', 'start': 1142.069, 'duration': 1.822}, {'end': 1148.693, 'text': "So just let's use Bitcoin as a measure of time.", 'start': 1145.271, 'duration': 3.422}, {'end': 1151.714, 'text': 'You started Coinbase when Bitcoin was $10.', 'start': 1149.293, 'duration': 2.421}, {'end': 1159.877, 'text': 'And you just mentioned an incredible system with security, with transactions.', 'start': 1151.714, 'duration': 8.163}, {'end': 1166.762, 'text': "everything is thought through, there's a lot going on, but what was version one? back in those early days, the first prototype of Coinbase?", 'start': 1159.877, 'duration': 6.885}, {'end': 1167.643, 'text': 'what did that look like?', 'start': 1166.762, 'duration': 0.881}], 'summary': 'A proof of concept site demonstrated unique data tracking to identify individuals, even without cookies. the interview discusses the early days of coinbase and its first prototype.', 'duration': 62.134, 'max_score': 1105.509, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k1105509.jpg'}, {'end': 1398.257, 'src': 'embed', 'start': 1371.168, 'weight': 4, 'content': [{'end': 1375.57, 'text': 'and so i that was kind of what gave me the confidence to quit my job and try it.', 'start': 1371.168, 'duration': 4.402}, {'end': 1382.852, 'text': "and um, i'll wrap the story here by saying that, like we, you know, i found the right co-founder after y combinator.", 'start': 1375.57, 'duration': 7.282}, {'end': 1383.933, 'text': "we still didn't have any customers.", 'start': 1382.852, 'duration': 1.081}, {'end': 1385.213, 'text': 'the thing that you know.', 'start': 1383.933, 'duration': 1.28}, {'end': 1387.554, 'text': 'i basically launched the hosted bitcoin wallet.', 'start': 1385.213, 'duration': 2.341}, {'end': 1388.854, 'text': 'there were people signing up.', 'start': 1387.554, 'duration': 1.3}, {'end': 1394.976, 'text': 'um, i just posted on reddit and places like that and you know maybe like 100 people would sign up and then nobody would come back.', 'start': 1388.854, 'duration': 6.122}, {'end': 1398.257, 'text': 'and so i was like i just in in y comment.', 'start': 1394.976, 'duration': 3.281}], 'summary': 'After quitting the job, launched a bitcoin wallet, gaining 100 sign-ups initially.', 'duration': 27.089, 'max_score': 1371.168, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k1371168.jpg'}, {'end': 1477.655, 'src': 'embed', 'start': 1449.577, 'weight': 5, 'content': [{'end': 1452.357, 'text': 'From that day forward, like the number of users started to go up like this.', 'start': 1449.577, 'duration': 2.78}, {'end': 1457.059, 'text': 'And so we finally had found product market fit after two years of wandering in the desert.', 'start': 1452.637, 'duration': 4.422}, {'end': 1460.36, 'text': "So you weren't even thinking about to buy the on-ramps.", 'start': 1457.139, 'duration': 3.221}, {'end': 1465.221, 'text': "You would think it would be just the wallet, a place to store Bitcoin that you've already gotten.", 'start': 1460.44, 'duration': 4.781}, {'end': 1467.129, 'text': 'Yeah Okay.', 'start': 1466.348, 'duration': 0.781}, {'end': 1477.655, 'text': "I mean, because that's such a pain to do, to have to work with others to convert dollars of any fiat currency into Bitcoin.", 'start': 1468.009, 'duration': 9.646}], 'summary': 'After two years, achieved product market fit with user numbers increasing significantly.', 'duration': 28.078, 'max_score': 1449.577, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k1449577.jpg'}], 'start': 1105.509, 'title': "Tracking user identification and coinbase's genesis", 'summary': 'Discusses unique user tracking without cookies and the challenges of differentiating between real users and robots, while also detailing the early struggles of coinbase and its success after launching the buy bitcoin feature, resulting in a significant user increase.', 'chapters': [{'end': 1143.891, 'start': 1105.509, 'title': 'Tracking and identifying users', 'summary': 'Discusses a proof of concept site that can uniquely track and identify users without the need for cookies, offering a fascinating insight into the challenges of distinguishing between real users and robots in a data-rich but visually obscured environment.', 'duration': 38.382, 'highlights': ['The proof of concept site can uniquely track and identify users without the need for cookies, offering a workaround to identify a unique person even in the absence of cookies.', 'The challenge of distinguishing between real users and robots in a data-rich but visually obscured environment is discussed, offering a fascinating insight into the complexities of online identification.', 'The interview explores technical topics related to the challenges of tracking and identifying users in an online environment.']}, {'end': 1647.169, 'start': 1145.271, 'title': 'Genesis of coinbase: from prototype to product market fit', 'summary': 'Details the early days of coinbase, from the creation of the first prototype, facing skepticism, struggles, and self-doubt, to finally achieving product-market fit after launching the buy bitcoin feature, resulting in a significant increase in users.', 'duration': 501.898, 'highlights': ["Coinbase's journey from the creation of the first prototype to achieving product-market fit after launching the buy Bitcoin feature The chapter details the early days of Coinbase, from the creation of the first prototype, facing skepticism, struggles, and self-doubt, to finally achieving product-market fit after launching the buy Bitcoin feature, resulting in a significant increase in users.", 'Initial skepticism and struggles faced by the founder despite the desire to start a company and the support from Y Combinator The founder faced skepticism and self-doubt, with most smart friends considering the idea of a hosted Bitcoin wallet as a bad one. However, receiving support and funding from Y Combinator gave the confidence to pursue the venture despite initial struggles.', 'Decision to add the buy Bitcoin feature leading to finding product-market fit The decision to add a buy Bitcoin feature resulted in finding product-market fit, leading to a significant increase in the number of users, marking a turning point for Coinbase.', "Founder's determination and willingness to overcome challenges and setbacks The founder's determination and willingness to overcome challenges and setbacks, despite self-doubt and sleep deprivation, led to the eventual success and growth of Coinbase."]}], 'duration': 541.66, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k1105509.jpg', 'highlights': ['The proof of concept site can uniquely track and identify users without the need for cookies, offering a workaround to identify a unique person even in the absence of cookies.', 'The challenge of distinguishing between real users and robots in a data-rich but visually obscured environment is discussed, offering a fascinating insight into the complexities of online identification.', 'The interview explores technical topics related to the challenges of tracking and identifying users in an online environment.', "Coinbase's journey from the creation of the first prototype to achieving product-market fit after launching the buy Bitcoin feature The chapter details the early days of Coinbase, from the creation of the first prototype, facing skepticism, struggles, and self-doubt, to finally achieving product-market fit after launching the buy Bitcoin feature, resulting in a significant increase in users.", 'Initial skepticism and struggles faced by the founder despite the desire to start a company and the support from Y Combinator The founder faced skepticism and self-doubt, with most smart friends considering the idea of a hosted Bitcoin wallet as a bad one. However, receiving support and funding from Y Combinator gave the confidence to pursue the venture despite initial struggles.', 'Decision to add the buy Bitcoin feature leading to finding product-market fit The decision to add a buy Bitcoin feature resulted in finding product-market fit, leading to a significant increase in the number of users, marking a turning point for Coinbase.', "Founder's determination and willingness to overcome challenges and setbacks The founder's determination and willingness to overcome challenges and setbacks, despite self-doubt and sleep deprivation, led to the eventual success and growth of Coinbase."]}, {'end': 2097.129, 'segs': [{'end': 1684.965, 'src': 'embed', 'start': 1647.209, 'weight': 0, 'content': [{'end': 1651.131, 'text': "So I'd get woken up sometimes like two or three times a night, like have to try to fix something, go back to sleep.", 'start': 1647.209, 'duration': 3.922}, {'end': 1656.334, 'text': 'So in that environment, you can kind of get discouraged.', 'start': 1651.991, 'duration': 4.343}, {'end': 1666.857, 'text': 'So one bad thing that happened was we had a bug on the website and there was thousands of people on reddit and twitter who were all like pissed at coinbase because,', 'start': 1657.094, 'duration': 9.763}, {'end': 1671.019, 'text': 'like, the balances were showing wrong and they were just like you know, this company.', 'start': 1666.857, 'duration': 4.162}, {'end': 1671.779, 'text': "it's over like.", 'start': 1671.019, 'duration': 0.76}, {'end': 1674.44, 'text': 'i hate these guys, and so that was.', 'start': 1671.779, 'duration': 2.661}, {'end': 1677.281, 'text': "i'd never had this feeling of a thousand people mad at me at the same time.", 'start': 1674.44, 'duration': 2.841}, {'end': 1678.881, 'text': "you know, i feel like i'm a pretty chill guy.", 'start': 1677.281, 'duration': 1.6}, {'end': 1680.462, 'text': "like most time, people don't get mad at me.", 'start': 1678.881, 'duration': 1.581}, {'end': 1681.562, 'text': 'so that was one.', 'start': 1680.462, 'duration': 1.1}, {'end': 1684.224, 'text': 'Another one was that- Can we pause on that?', 'start': 1682.142, 'duration': 2.082}, {'end': 1684.965, 'text': "That's so interesting.", 'start': 1684.244, 'duration': 0.721}], 'summary': 'Challenges managing website bug led to thousands of angry customers, causing discouragement.', 'duration': 37.756, 'max_score': 1647.209, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k1647209.jpg'}, {'end': 1734.17, 'src': 'embed', 'start': 1708.593, 'weight': 2, 'content': [{'end': 1713.576, 'text': "yeah, nobody told me this before starting a company that, like you're, a bunch of people will hate you for this,", 'start': 1708.593, 'duration': 4.983}, {'end': 1718.88, 'text': 'which is like a very counterintuitive thing, because you know, if most companies, i think, are doing good things in the world,', 'start': 1713.576, 'duration': 5.304}, {'end': 1722.843, 'text': "at least you're trying right, and so even if someone's like trying but they're not, they're failing.", 'start': 1718.88, 'duration': 3.963}, {'end': 1723.903, 'text': "i'm generally rooting for them.", 'start': 1722.843, 'duration': 1.06}, {'end': 1730.187, 'text': "at least you're trying right, yeah, but that's not the case at all, and most founders i've known have gone through this too.", 'start': 1723.903, 'duration': 6.284}, {'end': 1734.17, 'text': "where, um, they're very surprised at the amount of hate that they get.", 'start': 1730.187, 'duration': 3.983}], 'summary': 'Starting a company can lead to unexpected hate from others, despite good intentions and efforts to succeed.', 'duration': 25.577, 'max_score': 1708.593, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k1708593.jpg'}, {'end': 1923.664, 'src': 'embed', 'start': 1894.782, 'weight': 3, 'content': [{'end': 1897.123, 'text': "Well, actually Elon has a lot of haters too, but it's a different thing.", 'start': 1894.782, 'duration': 2.341}, {'end': 1898.024, 'text': 'This is measured.', 'start': 1897.343, 'duration': 0.681}, {'end': 1899.104, 'text': 'This is measured.', 'start': 1898.424, 'duration': 0.68}, {'end': 1900.785, 'text': 'I was looking at some surveys.', 'start': 1899.224, 'duration': 1.561}, {'end': 1910.272, 'text': 'So I think, Zuck is the most, so loved and hated, right? Zuckerberg is the most both loved and hated.', 'start': 1901.265, 'duration': 9.007}, {'end': 1912.014, 'text': "He's the most hated.", 'start': 1910.773, 'duration': 1.241}, {'end': 1914.796, 'text': "And then I think it's Bill Gates and Elon is down there.", 'start': 1912.394, 'duration': 2.402}, {'end': 1919.36, 'text': "I think it's like 40% hate Zuck, people asked.", 'start': 1914.816, 'duration': 4.544}, {'end': 1923.664, 'text': 'And then Elon is in the double digits, but low double digits.', 'start': 1919.921, 'duration': 3.743}], 'summary': 'Zuckerberg is the most loved and hated, with 40% hate, while elon receives low double digits hate.', 'duration': 28.882, 'max_score': 1894.782, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k1894782.jpg'}, {'end': 2070.947, 'src': 'embed', 'start': 2049.053, 'weight': 4, 'content': [{'end': 2058.639, 'text': "So for leaders, it's a challenge to be, how do I make sure I'm authentic, but also don't say stupid shit.", 'start': 2049.053, 'duration': 9.586}, {'end': 2060.9, 'text': "And so that's an interesting thing.", 'start': 2059.599, 'duration': 1.301}, {'end': 2070.947, 'text': "I've noticed that just having interacted with a bunch of leaders that you have to be careful how much you surround yourself with PR folks.", 'start': 2060.96, 'duration': 9.987}], 'summary': 'Leaders must balance authenticity with caution in speech and pr presence.', 'duration': 21.894, 'max_score': 2049.053, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k2049053.jpg'}], 'start': 1647.209, 'title': 'Starting and leading a company', 'summary': 'Discusses challenges in starting a company such as dealing with a bug affecting thousands of users and coping with public criticism. it also explores the challenge of staying authentic as a leader amidst public scrutiny, analyzing the hate and perception towards influential figures like bill gates, mark zuckerberg, and elon musk.', 'chapters': [{'end': 1759.288, 'start': 1647.209, 'title': 'Challenges of starting a company', 'summary': 'Discusses the challenges faced in starting a company, including dealing with a bug affecting thousands of users, coping with public criticism, and the unexpected aspect of being disliked for attempting to create something positive.', 'duration': 112.079, 'highlights': ['Dealing with bug affecting thousands of users The speaker faced a bug on the website that affected thousands of people, leading to public outcry and negative feedback on social media.', 'Coping with public criticism The speaker encountered public criticism and backlash on social media, including the feeling of a thousand people being mad at him simultaneously, which was a new and discouraging experience.', 'Unexpected aspect of being disliked for attempting to create something positive The speaker reflected on the counterintuitive aspect of being disliked for attempting to create something positive, expressing surprise at the amount of hate founders receive, and the need to build tolerance to it.']}, {'end': 2097.129, 'start': 1760.448, 'title': 'Staying authentic in leadership', 'summary': 'Discusses the challenge of staying authentic as a leader amidst public scrutiny, analyzing the hate and perception towards influential figures like bill gates, mark zuckerberg, and elon musk, and the balance between authenticity and public relations in leadership.', 'duration': 336.681, 'highlights': ['Analysis of public hate and perception towards influential figures like Bill Gates, Mark Zuckerberg, and Elon Musk. The chapter delves into the hate and perception towards influential figures like Bill Gates, Mark Zuckerberg, and Elon Musk, with Zuckerberg being the most both loved and hated, followed by Bill Gates and Elon Musk having relatively lower hate percentages.', "Importance of authenticity in leadership amidst public scrutiny. The chapter emphasizes the challenge of being authentic as a leader while avoiding saying 'stupid shit' and the premium placed on authenticity in the age of the internet.", 'Balancing authenticity and public relations in leadership. The chapter explores the dilemma faced by leaders in balancing authenticity and public relations, cautioning against being too PR-approved while acknowledging the importance of good marketing and PR rooted in authenticity.']}], 'duration': 449.92, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k1647209.jpg', 'highlights': ['Dealing with bug affecting thousands of users The speaker faced a bug on the website that affected thousands of people, leading to public outcry and negative feedback on social media.', 'Coping with public criticism The speaker encountered public criticism and backlash on social media, including the feeling of a thousand people being mad at him simultaneously, which was a new and discouraging experience.', 'Unexpected aspect of being disliked for attempting to create something positive The speaker reflected on the counterintuitive aspect of being disliked for attempting to create something positive, expressing surprise at the amount of hate founders receive, and the need to build tolerance to it.', 'Analysis of public hate and perception towards influential figures like Bill Gates, Mark Zuckerberg, and Elon Musk. The chapter delves into the hate and perception towards influential figures like Bill Gates, Mark Zuckerberg, and Elon Musk, with Zuckerberg being the most both loved and hated, followed by Bill Gates and Elon Musk having relatively lower hate percentages.', "Importance of authenticity in leadership amidst public scrutiny. The chapter emphasizes the challenge of being authentic as a leader while avoiding saying 'stupid shit' and the premium placed on authenticity in the age of the internet.", 'Balancing authenticity and public relations in leadership. The chapter explores the dilemma faced by leaders in balancing authenticity and public relations, cautioning against being too PR-approved while acknowledging the importance of good marketing and PR rooted in authenticity.']}, {'end': 3672.412, 'segs': [{'end': 2145.259, 'src': 'embed', 'start': 2118.485, 'weight': 0, 'content': [{'end': 2122.248, 'text': "but showing that there's great engineering going on underneath.", 'start': 2118.485, 'duration': 3.763}, {'end': 2123.809, 'text': 'so letting the nerds shine too.', 'start': 2122.248, 'duration': 1.561}, {'end': 2129.953, 'text': "it doesn't have to be like uh, these kind of commercials where it's like uh,", 'start': 2123.809, 'duration': 6.144}, {'end': 2137.336, 'text': 'a happy family using Coinbase to send a transaction about flowers for mom or something like that.', 'start': 2130.934, 'duration': 6.402}, {'end': 2141.598, 'text': 'Like it could be also like gritty stuff and real stuff.', 'start': 2137.676, 'duration': 3.922}, {'end': 2145.259, 'text': "So that's a general just observation I made.", 'start': 2141.638, 'duration': 3.621}], 'summary': 'Highlighting the engineering prowess at coinbase while emphasizing the potential for authentic and diverse advertising.', 'duration': 26.774, 'max_score': 2118.485, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k2118485.jpg'}, {'end': 2282.963, 'src': 'embed', 'start': 2255.177, 'weight': 1, 'content': [{'end': 2259.238, 'text': 'And I like, you know, stopped being like a little whatever and like got back up.', 'start': 2255.177, 'duration': 4.061}, {'end': 2267.08, 'text': 'Sleep deprivation, combined with just the stress and the pressure of the site going down and everybody wants the site to be up.', 'start': 2259.318, 'duration': 7.762}, {'end': 2271.001, 'text': 'just the pressure from people and the number of users is growing and growing and growing.', 'start': 2267.08, 'duration': 3.921}, {'end': 2273.541, 'text': 'So that pressure was just mentally, mentally tough.', 'start': 2271.361, 'duration': 2.18}, {'end': 2282.963, 'text': 'Yeah What was your source of strength during that time? Like what, like somebody that patted you on the back and said, we got this.', 'start': 2273.761, 'duration': 9.202}], 'summary': 'Sleep deprivation and growing user pressure made the situation mentally tough, but support helped overcome challenges.', 'duration': 27.786, 'max_score': 2255.177, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k2255177.jpg'}, {'end': 2342.803, 'src': 'embed', 'start': 2311.798, 'weight': 2, 'content': [{'end': 2315.442, 'text': 'and he basically carried the team, you know, a couple times, like in really key moments.', 'start': 2311.798, 'duration': 3.644}, {'end': 2321.627, 'text': 'what, uh, advice would you give to startup founders about this particular stage,', 'start': 2315.442, 'duration': 6.185}, {'end': 2330.114, 'text': 'about surviving it to the five and through the five employee stage where you, yeah, well, if your pre-product market fit,', 'start': 2321.627, 'duration': 8.487}, {'end': 2335.818, 'text': 'the best advice that i have from that period is um, action produces information.', 'start': 2330.114, 'duration': 5.704}, {'end': 2342.803, 'text': 'so just just like, keep doing stuff, you know, i remember, like um, paul graham.', 'start': 2335.818, 'duration': 6.985}], 'summary': 'Startup founders should focus on taking action and keep doing stuff to survive the pre-product market fit stage and beyond.', 'duration': 31.005, 'max_score': 2311.798, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k2311798.jpg'}, {'end': 2783.178, 'src': 'embed', 'start': 2750.486, 'weight': 3, 'content': [{'end': 2751.387, 'text': 'we do like normal interviews.', 'start': 2750.486, 'duration': 0.901}, {'end': 2754.547, 'text': 'we do references, the kinds of things i ask in interviews.', 'start': 2751.387, 'duration': 3.16}, {'end': 2757.988, 'text': "um, you know, it's usually like.", 'start': 2754.547, 'duration': 3.441}, {'end': 2759.589, 'text': 'i like to think about what.', 'start': 2757.988, 'duration': 1.601}, {'end': 2762.189, 'text': 'what do we need this person to accomplish in this role?', 'start': 2759.589, 'duration': 2.6}, {'end': 2765.271, 'text': 'right and get really specific about that.', 'start': 2762.189, 'duration': 3.082}, {'end': 2768.492, 'text': "it's like usually something pretty hard, and then i'll ask them a question.", 'start': 2765.271, 'duration': 3.221}, {'end': 2774.555, 'text': "it's like tell me about a time you did x and um, or tell me about the hardest,", 'start': 2768.492, 'duration': 6.063}, {'end': 2779.537, 'text': "the hardest kind of problem you've had to solve in y and what did you do specifically to overcome it?", 'start': 2774.555, 'duration': 4.982}, {'end': 2783.178, 'text': "right, so i'm asking to see if they can actually do the stuff we need to get done.", 'start': 2779.537, 'duration': 3.641}], 'summary': "Interviews focus on specific accomplishments and problem-solving abilities to assess candidates' suitability for the role.", 'duration': 32.692, 'max_score': 2750.486, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k2750486.jpg'}, {'end': 3144.132, 'src': 'embed', 'start': 3122.293, 'weight': 4, 'content': [{'end': 3132.321, 'text': "financial, hiring, lawyers, what was it? So post product market fit, yeah, a lot of it's scaling and you got to build out an actual company.", 'start': 3122.293, 'duration': 10.028}, {'end': 3138.847, 'text': 'So I remember I was still writing a lot of code there for a while and we were hiring in, we had like maybe 25 people or something.', 'start': 3132.462, 'duration': 6.385}, {'end': 3144.132, 'text': 'I remember, one of our investors came by one day and he was like Brian, how much of your time are you spending writing code?', 'start': 3139.427, 'duration': 4.705}], 'summary': 'Post product market fit, company scaling with 25 employees.', 'duration': 21.839, 'max_score': 3122.293, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k3122293.jpg'}], 'start': 2097.129, 'title': 'Embracing tech quirks and overcoming startup challenges', 'summary': 'Discusses the importance of embracing tech quirks, showcasing functionality and engineering, while recounting a challenging startup experience, including managing site outages, support requests, and growing user base, emphasizing perseverance, finding the right co-founder, and taking early action.', 'chapters': [{'end': 2145.259, 'start': 2097.129, 'title': 'Embracing quirks in tech', 'summary': 'Discusses the importance of embracing quirks and the beauty of tech, highlighting the need to showcase both the functionality and the engineering behind it, rather than traditional marketing approaches, such as portraying happy families using the product.', 'duration': 48.13, 'highlights': ['Emphasizing the importance of showcasing the beauty of tech by highlighting the great engineering going on underneath, rather than traditional marketing approaches like portraying happy families using the product.', 'Encouraging the portrayal of gritty and real aspects of tech instead of solely focusing on idealized scenarios, such as using Coinbase to send a transaction about flowers for mom.', "Noting the significance of allowing 'nerds' to shine in the tech industry by showcasing the cool and beautiful aspects of what is being done."]}, {'end': 2733.168, 'start': 2145.279, 'title': 'Startup challenges and finding strength', 'summary': 'Recounts a challenging startup experience, including dealing with a site outage, overwhelming support requests, and the stress of managing a growing user base. it also highlights the importance of perseverance, finding the right co-founder, and taking action in the early stages of a startup.', 'duration': 587.889, 'highlights': ['The stress of managing a growing user base and overcoming a site outage, along with handling overwhelming customer support inquiries, led to sleep deprivation and immense pressure. The company faced a situation where the site was down, resulting in a backlash from users on the internet. They were backed up with around 20,000 support requests, making it challenging for people to reach out for assistance.', 'The significance of having a supportive co-founder during tough times and the impact of finding the right co-founder on the success of a startup. Having a supportive co-founder played a crucial role in overcoming challenging moments, providing strength and motivation to rally the team and carry them through difficult times.', 'The advice to startup founders to focus on taking action and continuously iterating, as well as the analogy of navigating the challenges of a startup being similar to climbing a mountain shrouded in fog. The advice emphasizes the importance of taking action and continuously trying new things, as it often leads to gaining valuable insights and progress. The analogy of navigating through the unknown challenges of a startup is compared to climbing a fog-covered mountain, focusing on taking steps despite uncertainty.', 'Insights into the hiring process for startups, including the extensive experience of conducting interviews and the efforts to make interviews more efficient to save time for the team. The speaker shares insights into the hiring process, highlighting the extensive experience of conducting interviews and the efforts to streamline the process to save time for the team, including strategies to make interviews more efficient and improve the candidate experience.']}, {'end': 3088.802, 'start': 2733.168, 'title': 'Interview techniques and hiring strategies', 'summary': 'Discusses the interview techniques and hiring strategies utilized, including the types of questions asked, the qualities sought in candidates, and the evolving methods of assessment, with an emphasis on finding candidates who can accomplish tasks, work as part of a team, communicate effectively, and align with cultural values.', 'duration': 355.634, 'highlights': ["The chapter emphasizes the importance of interview questions that assess a candidate's ability to accomplish tasks, work as part of a team, communicate effectively, and align with cultural values, with a focus on specific examples and problem-solving abilities.", "The speaker highlights the evolving methods of assessment, mentioning the shift away from brain teasers and the skepticism towards their reliability in gauging a candidate's performance under pressure, as well as the consideration of standardized testing as a more reliable indicator of a candidate's capabilities.", "The chapter also delves into the speaker's evolving perspective on the 'work hard vs. work smart' question, expressing skepticism towards candidates who solely advocate for 'working smart' and advocating for a deeper understanding of a candidate's approach to efficiency.", "The discussion touches on the evolving significance of university degrees and entrance exams as indicators of a candidate's capabilities, with some companies creating their own standardized testing for college grads due to the diminishing reliability of traditional credentials."]}, {'end': 3672.412, 'start': 3088.802, 'title': 'Building coinbase: challenges and growth', 'summary': "Delves into the challenges faced by coinbase post product market fit, such as scaling, financial management, and hiring, and how the company's mission is to increase economic freedom through crypto technology.", 'duration': 583.61, 'highlights': ['The chapter discusses the challenges faced by Coinbase post product market fit, including scaling, financial management, and hiring. The CEO recounts the transition from focusing on writing code to prioritizing hiring, emphasizing the need to scale the company.', 'Coinbase had to manage its psychology and balance sheet to ensure survival during downturns, professionalizing services and hiring experienced professionals. The company had to ensure it could withstand downturns by professionalizing services, such as cybersecurity and finance, and managing the balance sheet to navigate through periods of unprofitability.', 'The hiring process at Coinbase involved solving customer support, hiring engineers, recruiters, and legal and compliance professionals. The hiring process started with solving customer support and hiring engineers, then expanding to hiring a recruiter and legal/compliance professionals due to the unique challenges of the crypto industry.', "The mission of Coinbase is to increase economic freedom in the world by promoting principles of economic freedom through crypto technology. Coinbase's mission is to increase economic freedom worldwide by promoting principles of economic freedom through crypto technology, which positively correlates with societal benefits and negatively correlates with undesirable factors, such as corruption and bribery."]}], 'duration': 1575.283, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k2097129.jpg', 'highlights': ['Emphasizing the importance of showcasing the beauty of tech by highlighting the great engineering going on underneath, rather than traditional marketing approaches like portraying happy families using the product.', 'The stress of managing a growing user base and overcoming a site outage, along with handling overwhelming customer support inquiries, led to sleep deprivation and immense pressure.', 'The advice to startup founders to focus on taking action and continuously iterating, as well as the analogy of navigating the challenges of a startup being similar to climbing a mountain shrouded in fog.', "The chapter emphasizes the importance of interview questions that assess a candidate's ability to accomplish tasks, work as part of a team, communicate effectively, and align with cultural values, with a focus on specific examples and problem-solving abilities.", 'The chapter discusses the challenges faced by Coinbase post product market fit, including scaling, financial management, and hiring.']}, {'end': 4916.461, 'segs': [{'end': 3825.747, 'src': 'embed', 'start': 3796.591, 'weight': 0, 'content': [{'end': 3800.732, 'text': "you know, if you're wealthy you can hold um stocks or like real estate and things like that.", 'start': 3796.591, 'duration': 4.141}, {'end': 3804.734, 'text': "but so it's really a tax on the poorest people in society, inflation.", 'start': 3800.732, 'duration': 4.002}, {'end': 3811.558, 'text': 'so anyway, crypto in in a way, is a little bit of like a return to the gold standard in this digital era, right?', 'start': 3804.734, 'duration': 6.824}, {'end': 3813.759, 'text': "Bitcoin, there's guaranteed scarcity of it.", 'start': 3811.598, 'duration': 2.161}, {'end': 3814.6, 'text': "It's deflationary.", 'start': 3813.799, 'duration': 0.801}, {'end': 3816.721, 'text': "There's never going to be more than 21 million Bitcoin.", 'start': 3814.9, 'duration': 1.821}, {'end': 3820.444, 'text': "And so that's that's a really important principle.", 'start': 3817.442, 'duration': 3.002}, {'end': 3825.747, 'text': 'I also think, you know, not just Bitcoin, but like cryptocurrency generally.', 'start': 3822.305, 'duration': 3.442}], 'summary': 'Cryptocurrency, like bitcoin, offers guaranteed scarcity and deflation, resembling a return to the gold standard in the digital era.', 'duration': 29.156, 'max_score': 3796.591, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k3796591.jpg'}, {'end': 3885.571, 'src': 'embed', 'start': 3859.971, 'weight': 1, 'content': [{'end': 3865.896, 'text': 'But with DeFi, with decentralized finance, people have published, like Uniswap is a decentralized exchange.', 'start': 3859.971, 'duration': 5.925}, {'end': 3871.7, 'text': "Everybody in the world, no matter what country you're in, what jurisdiction, can interface with that decentralized exchange.", 'start': 3866.336, 'duration': 5.364}, {'end': 3873.341, 'text': "And there's no central..", 'start': 3872.02, 'duration': 1.321}, {'end': 3875.503, 'text': 'um company operating it.', 'start': 3874.182, 'duration': 1.321}, {'end': 3876.944, 'text': "it's, it's a, it's a d.", 'start': 3875.503, 'duration': 1.441}, {'end': 3880.147, 'text': "it's a smart contract on the ethereum blockchain, which is globally decentralized.", 'start': 3876.944, 'duration': 3.203}, {'end': 3881.188, 'text': "so there's no throat to choke.", 'start': 3880.147, 'duration': 1.041}, {'end': 3884.01, 'text': "there's no one person you can or a company you can go to to like.", 'start': 3881.188, 'duration': 2.822}, {'end': 3885.571, 'text': 'hey, shut this thing down.', 'start': 3884.01, 'duration': 1.561}], 'summary': 'Defi enables global access to decentralized exchanges on ethereum blockchain', 'duration': 25.6, 'max_score': 3859.971, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k3859971.jpg'}, {'end': 4085.462, 'src': 'embed', 'start': 4057.308, 'weight': 3, 'content': [{'end': 4060.128, 'text': 'And in some ways that is much more authentic to the ethos of crypto.', 'start': 4057.308, 'duration': 2.82}, {'end': 4063.629, 'text': 'So Coinbase will help you convert the fiat into crypto.', 'start': 4060.168, 'duration': 3.461}, {'end': 4065.99, 'text': "And frankly, that's a more centralized thing.", 'start': 4063.749, 'duration': 2.241}, {'end': 4070.61, 'text': 'But once you have crypto, you can then go into the self-custodial world, store it yourself.', 'start': 4066.03, 'duration': 4.58}, {'end': 4072.791, 'text': 'To get into the technical details just for a second.', 'start': 4071.071, 'duration': 1.72}, {'end': 4077.195, 'text': "It's basically saying you're going to store the keys on your own device.", 'start': 4073.571, 'duration': 3.624}, {'end': 4083.881, 'text': "And so even if Coinbase gets some court order to seize it, we actually can't.", 'start': 4077.975, 'duration': 5.906}, {'end': 4085.462, 'text': "From an architecture point of view, we can't do it.", 'start': 4083.921, 'duration': 1.541}], 'summary': 'Coinbase facilitates fiat-to-crypto conversion; users can store keys on own device for self-custody, making it inaccessible even with a court order.', 'duration': 28.154, 'max_score': 4057.308, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k4057308.jpg'}, {'end': 4144.859, 'src': 'embed', 'start': 4113.421, 'weight': 2, 'content': [{'end': 4119.745, 'text': 'multi-sig, multiple signatures from different keys on different devices where you need like two of the three or three of the five.', 'start': 4113.421, 'duration': 6.324}, {'end': 4126.048, 'text': "there's a whole um technology called multi-party computation or threshold signing signatures, which is really cool, um,", 'start': 4119.745, 'duration': 6.303}, {'end': 4129.635, 'text': 'But those are the things you would run locally? Like what.', 'start': 4126.488, 'duration': 3.147}, {'end': 4136.853, 'text': 'these are all security measures like cryptography measures to protect you without a centralized component? Right.', 'start': 4129.635, 'duration': 7.218}, {'end': 4144.859, 'text': "So, like a simple example would be, let's say, you had a two of three key signature and you know one key might be stored at Coinbase,", 'start': 4137.193, 'duration': 7.666}], 'summary': 'Multi-sig uses multiple keys on different devices for security, like 2 of 3 or 3 of 5, with technologies such as multi-party computation or threshold signing.', 'duration': 31.438, 'max_score': 4113.421, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k4113421.jpg'}, {'end': 4707.865, 'src': 'embed', 'start': 4682.813, 'weight': 4, 'content': [{'end': 4689.097, 'text': 'And so something that you think like a committee of people somewhere thinks looks silly may turn out to be the next big thing, right?', 'start': 4682.813, 'duration': 6.284}, {'end': 4690.178, 'text': "And so it's very difficult.", 'start': 4689.277, 'duration': 0.901}, {'end': 4691.178, 'text': 'So what do we do?', 'start': 4690.658, 'duration': 0.52}, {'end': 4694.76, 'text': 'I mean We basically have a test of legality, right?', 'start': 4691.219, 'duration': 3.541}, {'end': 4698.662, 'text': 'We check, you know, do we do?', 'start': 4695.08, 'duration': 3.582}, {'end': 4699.682, 'text': 'we believe this is a security?', 'start': 4698.662, 'duration': 1.02}, {'end': 4701.503, 'text': "If so, it can't be listed on Coinbase.", 'start': 4699.882, 'duration': 1.621}, {'end': 4703.703, 'text': "And there's a very rigorous process we go through for that.", 'start': 4701.683, 'duration': 2.02}, {'end': 4707.865, 'text': "Just currently, the way the laws are in the US, you can't you can't do that.", 'start': 4705.144, 'duration': 2.721}], 'summary': 'Assessing securities for coinbase listing involves rigorous legal tests.', 'duration': 25.052, 'max_score': 4682.813, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k4682813.jpg'}], 'start': 3672.412, 'title': "Crypto's impact and coinbase's role", 'summary': "Discusses the impact of hyperinflation on economic freedom, the role of cryptocurrency in providing a decentralized financial system, the democratizing force of defi, self-custodial wallet security measures, and coinbase's approach to encouraging self-custody and its listing process for crypto assets.", 'chapters': [{'end': 3859.27, 'start': 3672.412, 'title': "Crypto's role in economic freedom", 'summary': "Discusses the impact of hyperinflation on economic freedom, the limitations imposed by government regulations, and the role of cryptocurrency in providing a decentralized and globally accessible financial system, with a focus on bitcoin's guaranteed scarcity and its potential to mitigate inflationary pressures.", 'duration': 186.858, 'highlights': ["Cryptocurrency's role in providing economic freedom by offering a decentralized financial system with guaranteed scarcity, exemplified by Bitcoin's 21 million limit, and its potential to mitigate inflationary pressures, particularly benefiting the poorest members of society. Decentralized financial system, guaranteed scarcity of Bitcoin, mitigation of inflationary pressures, benefit to the poorest members of society", 'Discussion on the limitations of economic freedom stemming from government control over currency and monetary policy, leading to inflationary pressures that disproportionately affect poorer individuals who tend to hold their assets in cash. Government control over currency, inflationary pressures, impact on poorer individuals', 'Challenges in conducting global financial operations due to the need for numerous licenses and bureaucratic hurdles in various countries, highlighting the inefficiencies and corruption in the traditional financial system. Challenges in global financial operations, bureaucratic hurdles, inefficiencies and corruption in the traditional financial system']}, {'end': 4095.811, 'start': 3859.971, 'title': 'Defi and centralized exchanges', 'summary': 'Discusses the democratizing force of decentralized finance (defi) and the role of centralized exchanges like coinbase in the crypto ecosystem, highlighting the advantages and importance of self-custodial wallets.', 'duration': 235.84, 'highlights': ['Decentralized finance (DeFi) enables global access and operates without a central authority, creating a more fair and free financial system. DeFi, such as Uniswap, allows global access to decentralized exchanges without centralized control, promoting a fair and free financial system.', 'The role of centralized exchanges like Coinbase is vital in allowing fiat money to flow into the crypto economy, while self-custodial wallets offer a more decentralized approach to holding crypto assets. Centralized exchanges like Coinbase play a crucial role in enabling fiat money to enter the crypto economy, while self-custodial wallets provide a decentralized alternative for holding crypto assets.', 'The importance of self-custodial wallets lies in offering users the ability to store their own crypto assets and adhere to the ethos of crypto, despite the centralized conversion process from fiat to crypto. Self-custodial wallets allow users to store their own crypto assets, aligning with the ethos of crypto, despite the centralized process of converting fiat to crypto.']}, {'end': 4256.103, 'start': 4096.051, 'title': 'Self-custodial wallet security measures', 'summary': 'Discusses the security measures and technologies, such as multi-signature and multi-party computation, implemented in self-custodial wallets to protect against accidental loss, hacks, and governmental restrictions, ensuring recovery mechanisms and maintaining decentralization.', 'duration': 160.052, 'highlights': ['Multi-signature and multi-party computation technologies are used to secure self-custodial wallets, enabling the use of multiple keys from different devices for enhanced security. The use of multi-signature and multi-party computation technologies in self-custodial wallets provides enhanced security by requiring multiple keys from different devices, ensuring resilience against hacks and accidental loss.', 'The implementation of a two of three key signature system, with keys stored in different locations, provides a recovery mechanism in case of phone loss or seizure of funds. The two of three key signature system, with keys stored in different locations, ensures a recovery mechanism in case of phone loss or fund seizure, maintaining accessibility to the funds.', 'The discussion addresses the potential impact of governmental restrictions on accessing funds stored in self-custodial wallets, highlighting the need for diverse key storage locations. The conversation highlights the potential impact of governmental restrictions on accessing funds stored in self-custodial wallets, emphasizing the importance of diverse key storage locations to ensure accessibility even in such scenarios.']}, {'end': 4682.213, 'start': 4256.704, 'title': "Coinbase's role in crypto", 'summary': "Discusses coinbase's approach to encouraging users to move to self-custody, the low switching costs in accessing the bitcoin network, and the distinction between centralized and decentralized products, with over 100 cryptocurrencies on coinbase.", 'duration': 425.509, 'highlights': ['Coinbase encourages users to move to self-custody, contributing to the future of crypto adoption. Coinbase aims to encourage users to move to self-custody, believing it is the future of getting billions of people to use crypto.', 'Low switching costs in accessing the Bitcoin network hold companies to a high standard. Accessing the Bitcoin network entails low switching costs, which holds companies accountable to a high standard, as losing trust could lead customers to move their Bitcoin to other services.', 'Coinbase incorporates over 100 cryptocurrencies, with a distinction between centralized and decentralized products. Coinbase incorporates over 100 cryptocurrencies, with a distinction between centralized and decentralized products, aiming to encourage more decentralization over time.']}, {'end': 4916.461, 'start': 4682.813, 'title': "Coinbase's listing process and market dynamics", 'summary': "Discusses coinbase's rigorous process for listing crypto assets, including legality, cybersecurity, compliance, and market dynamics, aiming to let the market decide on asset quality and considering adding user ratings and reviews.", 'duration': 233.648, 'highlights': ["Coinbase's test of legality and customer protection for listing crypto assets Coinbase follows a rigorous process to determine the legality of listing a crypto asset, focusing on customer protection and compliance, aiming to let the market decide on asset quality.", 'Obtaining a broker dealer license from the SEC and the limitations in trading real crypto securities in the US Coinbase has acquired a broker dealer license from the SEC and is working towards operationalizing the trading of real crypto securities, despite current limitations in the US.', 'Consideration of cybersecurity and flaws in smart contracts for listed crypto assets Coinbase evaluates the cybersecurity of crypto assets, scrutinizing smart contracts for potential flaws or manipulations without customer permission as part of the listing process.', 'Exploration of adding user ratings and reviews for listed assets Coinbase is considering adding user ratings and reviews for listed assets to provide additional verification signals and enhance the wisdom of the crowds for feedback on items.']}], 'duration': 1244.049, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k3672412.jpg', 'highlights': ['Decentralized financial system, guaranteed scarcity of Bitcoin, mitigation of inflationary pressures, benefit to the poorest members of society', 'Decentralized finance (DeFi) enables global access and operates without a central authority, creating a more fair and free financial system', 'The use of multi-signature and multi-party computation technologies in self-custodial wallets provides enhanced security by requiring multiple keys from different devices, ensuring resilience against hacks and accidental loss', 'Coinbase encourages users to move to self-custody, contributing to the future of crypto adoption', 'Coinbase follows a rigorous process to determine the legality of listing a crypto asset, focusing on customer protection and compliance, aiming to let the market decide on asset quality']}, {'end': 5581.045, 'segs': [{'end': 5301.673, 'src': 'embed', 'start': 5276.297, 'weight': 0, 'content': [{'end': 5283.082, 'text': 'we should basically, um create thoughtful regulation and celebrate it and actually encourage this innovation to happen in the US.', 'start': 5276.297, 'duration': 6.785}, {'end': 5288.865, 'text': "That's a huge change from just three years ago, where it was probably 30% of people saying that now it's like 60.", 'start': 5283.182, 'duration': 5.683}, {'end': 5289.886, 'text': "It's like almost double.", 'start': 5288.865, 'duration': 1.021}, {'end': 5294.729, 'text': "It's getting harder to find like true crypto skeptics in DC.", 'start': 5290.446, 'duration': 4.283}, {'end': 5301.673, 'text': "I'd say that, you know, maybe only like 20 or 30% of people are like willing to say something negative.", 'start': 5294.749, 'duration': 6.924}], 'summary': 'Us seeing a shift in attitude towards crypto, with 60% supporting innovation, up from 30% three years ago.', 'duration': 25.376, 'max_score': 5276.297, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k5276297.jpg'}, {'end': 5357.473, 'src': 'embed', 'start': 5333.095, 'weight': 1, 'content': [{'end': 5340.84, 'text': "and um, some countries have really embraced crypto and they're like trying to, really they're ahead of where the us is,", 'start': 5333.095, 'duration': 7.745}, {'end': 5347.285, 'text': "because they're trying to actually, uh, attract the best startups and entrepreneurs, like you know, like dubai and uk and australia,", 'start': 5340.84, 'duration': 6.445}, {'end': 5349.626, 'text': 'and all kind of pushing good regulation.', 'start': 5347.285, 'duration': 2.341}, {'end': 5353.269, 'text': 'um, El Salvador actually, I guess, adopted it as like Bitcoin as a legal tender.', 'start': 5349.626, 'duration': 3.643}, {'end': 5357.473, 'text': 'There was another country, Central African Republic, I think, that supposedly did that as well.', 'start': 5353.49, 'duration': 3.983}], 'summary': 'Some countries are ahead in embracing crypto, like dubai, uk, and australia, with el salvador and central african republic adopting bitcoin as legal tender.', 'duration': 24.378, 'max_score': 5333.095, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k5333095.jpg'}, {'end': 5573.91, 'src': 'embed', 'start': 5542.118, 'weight': 2, 'content': [{'end': 5544.302, 'text': "like they'll do what the people of the country want.", 'start': 5542.118, 'duration': 2.184}, {'end': 5551.877, 'text': 'So you want governments to start understanding differences between, in the crypto space commodities, securities, currencies, NFTs.', 'start': 5544.793, 'duration': 7.084}, {'end': 5553.418, 'text': "I still don't understand.", 'start': 5551.897, 'duration': 1.521}, {'end': 5556.32, 'text': 'What are they supposed to make sense of NFTs?', 'start': 5554.078, 'duration': 2.242}, {'end': 5560.082, 'text': 'What is NFTs exactly from a perspective of a regulator??', 'start': 5557.08, 'duration': 3.002}, {'end': 5564.344, 'text': 'Is it the other categories??', 'start': 5563.064, 'duration': 1.28}, {'end': 5569.007, 'text': "Yeah, you know most NFTs you could think of as like artwork, although it's who knows where it's going to go?", 'start': 5564.865, 'duration': 4.142}, {'end': 5569.547, 'text': 'It could be much broader.', 'start': 5569.027, 'duration': 0.52}, {'end': 5573.91, 'text': 'Well, you mentioned metaverse, right? You mentioned some kind of unique identity of a thing.', 'start': 5569.567, 'duration': 4.343}], 'summary': 'The transcript discusses the need for governments to understand and classify crypto assets like commodities, securities, and nfts.', 'duration': 31.792, 'max_score': 5542.118, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k5542118.jpg'}], 'start': 4919.002, 'title': 'Cryptocurrency regulation and innovation', 'summary': 'Covers the challenges and importance of regulating cryptocurrency, the evolving global regulatory trends, and the need for clear regulations in the us, emphasizing the acceptance of crypto in various countries and the categorization of cryptocurrencies into commodities, securities, currencies, and nfts.', 'chapters': [{'end': 5186.984, 'start': 4919.002, 'title': 'Regulating cryptocurrency: privacy and fraud', 'summary': 'Discusses the challenges of regulating cryptocurrency, addressing issues of fraud prevention, privacy-preserving coins, and the importance of privacy in the crypto industry while emphasizing the need for regulatory compliance.', 'duration': 267.982, 'highlights': ['The challenges of regulating cryptocurrency and preventing fraud are discussed, emphasizing the need to enable innovation in the industry while preventing fraudulent activities and get-rich-quick schemes. emphasis on preventing fraudulent activities and get-rich-quick schemes', 'The difficulty of adding privacy-preserving cryptocurrency like Monero to a centralized exchange is explained, with the need for a reasonable program to monitor suspicious activity and comply with anti-money laundering regulations. explanation of the difficulty in adding privacy-preserving cryptocurrency to a centralized exchange', 'The importance of privacy coins for the world and the need for more privacy in financial transactions is emphasized, with a comparison to the evolution of internet security through HTTPS. emphasis on the importance of privacy coins and the need for more privacy in financial transactions', 'The decision to operate in a regulated and compliant way while acknowledging the benefits of privacy coins is discussed, highlighting the need for privacy and freedoms in financial transactions. emphasis on the decision to operate in a regulated and compliant way while acknowledging the benefits of privacy coins']}, {'end': 5366.08, 'start': 5186.984, 'title': 'Global regulatory trends in cryptocurrency', 'summary': "Discusses the evolving global regulatory landscape for cryptocurrency, with a focus on the positive shift in regulators' attitudes towards embracing innovation and the increasing acceptance of crypto in various countries, such as the u.s., india, europe, and el salvador.", 'duration': 179.096, 'highlights': ['Regulators are increasingly embracing the innovation potential of cryptocurrency while aiming to prevent illicit activities, with a significant shift observed over the last five years. Regulators are now more inclined to preserve the innovation potential of cryptocurrency while keeping bad actors out, marking a notable positive shift from their previous stance of solely focusing on prevention of illicit activities.', 'In the U.S., there has been a substantial increase in the number of regulators supporting cryptocurrency, with approximately 50-60% now advocating for thoughtful regulation and acknowledging its upside, reflecting a significant shift from just three years ago. In the U.S., there has been a remarkable shift, with 50-60% of regulators now advocating for thoughtful regulation and recognizing the potential of cryptocurrency, a significant increase from approximately 30% just three years ago.', 'The increasing adoption and usage of cryptocurrency, including NFTs, has contributed to the challenging of the negative perception, with only a minority (20-30%) expressing skepticism due to the substantial usage by a significant portion of the population. The widespread adoption and usage of cryptocurrency, including NFTs, has led to a decline in skepticism, with only 20-30% expressing negative views, as nearly one in five Americans have used or tried crypto at this point.', 'Various countries, including India, Europe, El Salvador, and others, are actively embracing cryptocurrency and implementing favorable regulations to attract startups and entrepreneurs, while some autocratic nations like China are imposing stricter measures to curb its influence. Countries like India, Europe, and El Salvador are actively embracing cryptocurrency and promoting favorable regulations to attract startups and entrepreneurs, while autocratic nations like China are imposing stricter measures to limit its impact.']}, {'end': 5581.045, 'start': 5366.4, 'title': 'Cryptocurrency regulation and innovation', 'summary': 'Discusses the need for clear regulations on cryptocurrencies in the us, categorizing them into commodities, securities, currencies, and nfts, and emphasizes the importance of creating a regulatory framework to attract innovation.', 'duration': 214.645, 'highlights': ['The need for clear regulations on cryptocurrencies in the US, categorizing them into commodities, securities, currencies, and NFTs The speaker emphasizes the necessity to clarify the regulatory framework for cryptocurrencies, categorizing them into commodities, securities, currencies, and NFTs.', 'Emphasizing the importance of creating a regulatory framework to attract innovation The speaker highlights the significance of establishing a regulatory environment that fosters innovation within the cryptocurrency space.', 'Advocating for a relatively simple test to determine the regulatory oversight of cryptocurrencies The speaker suggests implementing a straightforward test to classify cryptocurrencies based on their characteristics, such as control percentage, to determine the appropriate regulatory oversight.']}], 'duration': 662.043, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k4919002.jpg', 'highlights': ['Regulators are increasingly embracing the innovation potential of cryptocurrency while aiming to prevent illicit activities, with a significant shift observed over the last five years.', 'Various countries, including India, Europe, El Salvador, and others, are actively embracing cryptocurrency and implementing favorable regulations to attract startups and entrepreneurs, while some autocratic nations like China are imposing stricter measures to curb its influence.', 'The need for clear regulations on cryptocurrencies in the US, categorizing them into commodities, securities, currencies, and NFTs The speaker emphasizes the necessity to clarify the regulatory framework for cryptocurrencies, categorizing them into commodities, securities, currencies, and NFTs.']}, {'end': 7434.453, 'segs': [{'end': 5834.067, 'src': 'heatmap', 'start': 5730.985, 'weight': 0.98, 'content': [{'end': 5738.128, 'text': "and so we've seen, um, some in the past that were like well, we need you to freeze this huge number of accounts and it's like, well,", 'start': 5730.985, 'duration': 7.143}, {'end': 5743.431, 'text': "we'll actually gone to court and, like, pushed back on some of these and said like, what is your the probable cause and is that,", 'start': 5738.128, 'duration': 5.303}, {'end': 5744.451, 'text': 'has the threshold been met?', 'start': 5743.431, 'duration': 1.02}, {'end': 5746.973, 'text': "and like, we've won some of those cases on behalf of our customers?", 'start': 5744.451, 'duration': 2.522}, {'end': 5748.593, 'text': "so yeah, it's.", 'start': 5746.973, 'duration': 1.62}, {'end': 5752.055, 'text': "it's actually really it's kind of unfortunate and frustrating as a.", 'start': 5748.593, 'duration': 3.462}, {'end': 5753.156, 'text': 'you know, as a large business,', 'start': 5752.055, 'duration': 1.101}, {'end': 5767.366, 'text': 'you spend a lot of resources basically interacting with inbound requests by all kinds of lawyers and people and requesting things and some of them are silly and ridiculous and you have to push back and say no.', 'start': 5753.156, 'duration': 14.21}, {'end': 5775.172, 'text': "And so it's kind of a tax on every company at a certain size, which ultimately gets passed on to the customer in higher fees.", 'start': 5767.446, 'duration': 7.726}, {'end': 5778.154, 'text': 'So you have to employ armies of lawyers to deal with this stuff.', 'start': 5775.212, 'duration': 2.942}, {'end': 5779.736, 'text': 'Can you educate me on something?', 'start': 5778.454, 'duration': 1.282}, {'end': 5782.979, 'text': 'How much innovation is there in the legal space?', 'start': 5779.876, 'duration': 3.103}, {'end': 5789.786, 'text': "So for lawyers working with Coinbase, because it's such a new cutting edge thing.", 'start': 5783.9, 'duration': 5.886}, {'end': 5796.353, 'text': "So you're, there's a lot of gray area you're supposed to be operating under.", 'start': 5789.806, 'duration': 6.547}, {'end': 5804.418, 'text': "Like how hard is it being a lawyer? at Coinbase? How much precedence is there, I guess is what I'm asking.", 'start': 5796.553, 'duration': 7.865}, {'end': 5806.339, 'text': 'I mean, just like you said, three years.', 'start': 5804.538, 'duration': 1.801}, {'end': 5809.4, 'text': "It's kind of a new space.", 'start': 5808.1, 'duration': 1.3}, {'end': 5817.243, 'text': "Yeah, Well, it's probably very hard to be a lawyer at Coinbase, and very fun, because you know whenever you're in a new field that's growing fast.", 'start': 5809.6, 'duration': 7.643}, {'end': 5822.044, 'text': "there isn't a lot of case law and just precedent set.", 'start': 5817.243, 'duration': 4.801}, {'end': 5825.285, 'text': "So that's also an opportunity for you to go create that stuff.", 'start': 5822.544, 'duration': 2.741}, {'end': 5834.067, 'text': "And that's what a lot of legal careers are made out of is like take a complex situation where you have to balance difficult things like how do we prevent bad activity but still enable innovation?", 'start': 5825.505, 'duration': 8.562}], 'summary': 'Coinbase has won cases against freezing accounts, faces legal challenges due to lack of legal precedence, and incurs high legal costs passed on to customers.', 'duration': 103.082, 'max_score': 5730.985, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k5730985.jpg'}, {'end': 5960.68, 'src': 'embed', 'start': 5936.058, 'weight': 0, 'content': [{'end': 5942.203, 'text': "we've got one percent of our portfolio in crypto today, but We really would rather have like 20% in there.", 'start': 5936.058, 'duration': 6.145}, {'end': 5950.491, 'text': "but what we're waiting for is more clear regulation coming out and saying that clear test that I was saying these assets are commodities regulated by.", 'start': 5942.203, 'duration': 8.288}, {'end': 5951.952, 'text': "let's see if you see, these are by SEC.", 'start': 5950.491, 'duration': 1.461}, {'end': 5952.873, 'text': 'these are by treasury whatever.', 'start': 5951.952, 'duration': 0.921}, {'end': 5954.955, 'text': 'So that would be a big unlock.', 'start': 5953.754, 'duration': 1.201}, {'end': 5956.516, 'text': 'Do transactions.', 'start': 5955.215, 'duration': 1.301}, {'end': 5960.68, 'text': 'So one of the things that you mentioned, payments, sorry.', 'start': 5956.637, 'duration': 4.043}], 'summary': 'Portfolio aims for 20% in crypto; awaiting clear regulation for transaction security.', 'duration': 24.622, 'max_score': 5936.058, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k5936058.jpg'}, {'end': 6078.928, 'src': 'embed', 'start': 6050.868, 'weight': 1, 'content': [{'end': 6055.01, 'text': 'So tons of venture money flowing into the space, a lot of smart young people.', 'start': 6050.868, 'duration': 4.142}, {'end': 6060.772, 'text': 'So Do you think Bitcoin, or some other cryptocurrency, will become the reserve currency of the world at some point?', 'start': 6055.11, 'duration': 5.662}, {'end': 6065.065, 'text': 'So this is kind of a controversial idea, but I actually think yes.', 'start': 6061.764, 'duration': 3.301}, {'end': 6069.486, 'text': 'I do think Bitcoin could end up becoming a reserve currency of the world.', 'start': 6066.545, 'duration': 2.941}, {'end': 6076.448, 'text': "So I've been reading Ray Dalio recently with his new book, The Changing World Order.", 'start': 6070.886, 'duration': 5.562}, {'end': 6078.928, 'text': 'And I thought it was a really well-researched book.', 'start': 6076.668, 'duration': 2.26}], 'summary': 'Venture money flowing in, bitcoin could become world reserve currency.', 'duration': 28.06, 'max_score': 6050.868, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k6050868.jpg'}, {'end': 6184.028, 'src': 'embed', 'start': 6157.583, 'weight': 2, 'content': [{'end': 6162.168, 'text': "they're starting to think of crypto as like the primary thing in their financial life.", 'start': 6157.583, 'duration': 4.585}, {'end': 6167.934, 'text': "it's like i basically hold my wealth in crypto and i use dollars or euros or whatever.", 'start': 6162.168, 'duration': 5.766}, {'end': 6170.416, 'text': 'if i, if i happen to need something, i convert it to that last minute.', 'start': 6167.934, 'duration': 2.482}, {'end': 6177.202, 'text': "it's like if i, if i go home if i'm traveling, i might convert some local currency in the moment, but that's not where i hold my most of my wealth.", 'start': 6170.416, 'duration': 6.786}, {'end': 6184.028, 'text': 'so this segment of the population is not like massive yet from a gdp point of view, but um,', 'start': 6177.202, 'duration': 6.826}], 'summary': 'Some individuals are holding most of their wealth in crypto, using fiat only when necessary.', 'duration': 26.445, 'max_score': 6157.583, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k6157583.jpg'}, {'end': 6218.863, 'src': 'embed', 'start': 6193.645, 'weight': 3, 'content': [{'end': 6201.869, 'text': "it'll be kind of this very centralized East versus a decentralized West, where people are in the West, in the free world,", 'start': 6193.645, 'duration': 8.224}, {'end': 6211.035, 'text': 'really kind of embracing crypto and a more open, fair, free global financial system, which I think will be enormously beneficial for humanity.', 'start': 6201.869, 'duration': 9.166}, {'end': 6215.898, 'text': 'And I do think basically Bitcoin is the reserve currency, the gold standard of the crypto economy.', 'start': 6211.375, 'duration': 4.523}, {'end': 6218.863, 'text': "So that's pretty crazy.", 'start': 6217.739, 'duration': 1.124}], 'summary': 'Bitcoin as the reserve currency of a decentralized global financial system, embraced in the west, will be enormously beneficial for humanity.', 'duration': 25.218, 'max_score': 6193.645, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k6193645.jpg'}, {'end': 6409.031, 'src': 'embed', 'start': 6372.633, 'weight': 6, 'content': [{'end': 6374.333, 'text': "They're trying to do something really good for the world.", 'start': 6372.633, 'duration': 1.7}, {'end': 6390.46, 'text': "And unfortunately they're getting a little distracted from that at times because of employee activism that is causing the to basically jump into whatever the current thing is and try to help is like the positive interpretation.", 'start': 6375.293, 'duration': 15.167}, {'end': 6392.801, 'text': 'The negative interpretation would be to virtue signal.', 'start': 6390.76, 'duration': 2.041}, {'end': 6400.786, 'text': 'And my view is that this is actually kind of destructive to, this is largely an American company phenomenon, by the way.', 'start': 6393.662, 'duration': 7.124}, {'end': 6409.031, 'text': 'I do worry that this is making America less competitive, even though I think of myself as kind of internationally minded, but I am a US citizen,', 'start': 6401.586, 'duration': 7.445}], 'summary': 'Employee activism is distracting company from global impact, potentially harming american competitiveness.', 'duration': 36.398, 'max_score': 6372.633, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k6372633.jpg'}, {'end': 6577.764, 'src': 'embed', 'start': 6551.585, 'weight': 5, 'content': [{'end': 6558.828, 'text': "And what I realized was that, so I basically, I made an exit package available to anybody who wasn't on board with this direction.", 'start': 6551.585, 'duration': 7.243}, {'end': 6560.529, 'text': '5% of employees took it.', 'start': 6558.848, 'duration': 1.681}, {'end': 6563.791, 'text': 'I got the company realigned towards this mission.', 'start': 6561.189, 'duration': 2.602}, {'end': 6564.672, 'text': "We're all here to do work.", 'start': 6563.871, 'duration': 0.801}, {'end': 6569.697, 'text': 'By the way, they can go do anything like political or social activism outside of work.', 'start': 6565.113, 'duration': 4.584}, {'end': 6570.918, 'text': "It's totally fine.", 'start': 6569.737, 'duration': 1.181}, {'end': 6574.14, 'text': 'Everybody has stuff like that in their personal life.', 'start': 6571.338, 'duration': 2.802}, {'end': 6577.764, 'text': 'But while at work, we can also disagree at work, by the way, on the work.', 'start': 6574.241, 'duration': 3.523}], 'summary': '5% of employees took the exit package, while the company realigned towards the mission, allowing political or social activism outside of work.', 'duration': 26.179, 'max_score': 6551.585, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k6551585.jpg'}, {'end': 6697.205, 'src': 'embed', 'start': 6667.557, 'weight': 7, 'content': [{'end': 6669.698, 'text': "And it just, it's the wrong thing.", 'start': 6667.557, 'duration': 2.141}, {'end': 6678.982, 'text': "And perhaps from your perspective as a CEO, as a leader, it's also creating unnecessary division within people.", 'start': 6669.798, 'duration': 9.184}, {'end': 6685.763, 'text': "Like they get, yeah, there's something about us would get extremely argumentative about certain topics.", 'start': 6679.302, 'duration': 6.461}, {'end': 6687.423, 'text': 'They really bring out the emotion.', 'start': 6685.803, 'duration': 1.62}, {'end': 6694.924, 'text': 'And I think that probably, as you were saying, that emotion is even probably okay, maybe productive,', 'start': 6687.443, 'duration': 7.481}, {'end': 6697.205, 'text': 'when that emotion has to do with the mission of the company.', 'start': 6694.924, 'duration': 2.281}], 'summary': 'Ceo acknowledges divisive impact of emotional arguments on company mission.', 'duration': 29.648, 'max_score': 6667.557, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k6667557.jpg'}, {'end': 6895.585, 'src': 'embed', 'start': 6863.696, 'weight': 8, 'content': [{'end': 6865.917, 'text': 'most mainstream media is like hyper politicized.', 'start': 6863.696, 'duration': 2.221}, {'end': 6870.619, 'text': "at this point it's basically either super left or super right, and it's not really that focused on.", 'start': 6865.917, 'duration': 4.702}, {'end': 6877.921, 'text': "So that's kind of unfortunate, because I think journalism is actually like really important in society.", 'start': 6873.079, 'duration': 4.842}, {'end': 6880.621, 'text': 'So that whole thing got eroded in the US.', 'start': 6877.941, 'duration': 2.68}, {'end': 6884.202, 'text': "Luckily, there's sort of new media, people like you, and a whole bunch of people.", 'start': 6880.801, 'duration': 3.401}, {'end': 6890.644, 'text': 'Did that blog post help? That statement, the 95 people that remained?', 'start': 6884.682, 'duration': 5.962}, {'end': 6895.585, 'text': "is this still something you struggle with? Because it's also a culture of the broader tech space.", 'start': 6890.644, 'duration': 4.941}], 'summary': 'Mainstream media is highly politicized, leading to erosion of journalism, but new media is emerging to fill the gap.', 'duration': 31.889, 'max_score': 6863.696, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k6863696.jpg'}, {'end': 7003.967, 'src': 'embed', 'start': 6980.783, 'weight': 9, 'content': [{'end': 6988.151, 'text': 'so, and then what was cool was a lot of really great people reached out to the coinbase too after that and were like I, you know,', 'start': 6980.783, 'duration': 7.368}, {'end': 6989.653, 'text': "I'm an early engineer at Google or wherever.", 'start': 6988.151, 'duration': 1.502}, {'end': 6995.198, 'text': "And like this culture has gotten kind of messed up and like, I want to work at a company that's willing to stand for that.", 'start': 6989.713, 'duration': 5.485}, {'end': 6996.84, 'text': "And so we've gotten a lot of good people come over.", 'start': 6995.238, 'duration': 1.602}, {'end': 7000.384, 'text': 'Basically what I realized and, by the way, our diversity, numbers and all that stuff.', 'start': 6997.441, 'duration': 2.943}, {'end': 7003.967, 'text': "like people told me when I was drafting this post, they're like don't post this.", 'start': 7000.384, 'duration': 3.583}], 'summary': 'Coinbase received positive response and attracted talented individuals from diverse backgrounds.', 'duration': 23.184, 'max_score': 6980.783, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k6980783.jpg'}, {'end': 7277.654, 'src': 'heatmap', 'start': 7160.877, 'weight': 10, 'content': [{'end': 7169.785, 'text': "And so there's desperation and so on, because, to be fair, it's kind of the internet which is where's the source of a lot of this.", 'start': 7160.877, 'duration': 8.908}, {'end': 7173.869, 'text': 'where people have a voice is making the power centers of the world really nervous.', 'start': 7169.785, 'duration': 4.084}, {'end': 7176.191, 'text': "And so that's where that's coming from, I think.", 'start': 7174.309, 'duration': 1.882}, {'end': 7178.293, 'text': 'And the internet is tricky.', 'start': 7176.891, 'duration': 1.402}, {'end': 7179.594, 'text': "It's weird.", 'start': 7178.853, 'duration': 0.741}, {'end': 7180.735, 'text': "It's full of bots.", 'start': 7179.954, 'duration': 0.781}, {'end': 7188.883, 'text': "It's full of misinformation of all kinds, full of large groups with conspiracy theories and so on.", 'start': 7181.696, 'duration': 7.187}, {'end': 7191.606, 'text': 'And I mean misinformation broadly.', 'start': 7189.904, 'duration': 1.702}, {'end': 7193.708, 'text': 'People are misusing the word misinformation.', 'start': 7191.626, 'duration': 2.082}, {'end': 7198.773, 'text': 'Governments are just labeling random things with misinformation just to censor them.', 'start': 7195.029, 'duration': 3.744}, {'end': 7206.116, 'text': "But I just think it's just like a new world where the internet is really finally taking hold,", 'start': 7199.993, 'duration': 6.123}, {'end': 7208.797, 'text': "where there's billions of devices and everybody has a voice.", 'start': 7206.116, 'duration': 2.681}, {'end': 7219.862, 'text': "It's almost basically governments and powerful people are slightly losing hold of power and they're starting to freak out a little bit.", 'start': 7209.338, 'duration': 10.524}, {'end': 7220.863, 'text': "That's it.", 'start': 7220.543, 'duration': 0.32}, {'end': 7228.387, 'text': 'And once you have young people that are coming up now, gain power, I think will rebalance everything.', 'start': 7221.463, 'duration': 6.924}, {'end': 7237.733, 'text': "And then there's, like you said, promising signs that it's obvious that the majority of people want freedom.", 'start': 7228.728, 'duration': 9.005}, {'end': 7239.374, 'text': 'And that means a lot of things.', 'start': 7238.254, 'duration': 1.12}, {'end': 7240.615, 'text': 'That means economic freedom.', 'start': 7239.394, 'duration': 1.221}, {'end': 7248.78, 'text': 'that means freedom to have a voice, freedom to move around, freedom to act in the way they you know,', 'start': 7240.615, 'duration': 8.165}, {'end': 7254.843, 'text': "without reasonable sort of limitations by people that don't have their best interests.", 'start': 7248.78, 'duration': 6.063}, {'end': 7270.03, 'text': 'And I gain more hope from just regular people that are fighting and demanding the being able to have freedom of speech or, more specifically,', 'start': 7255.043, 'duration': 14.987}, {'end': 7277.654, 'text': 'sort of resisting crude overreach of government in the acts of censorship, at least in the United States.', 'start': 7270.03, 'duration': 7.624}], 'summary': 'The internet empowers people, causing concern for power centers. but young people gaining power will rebalance everything, as the majority seeks economic and speech freedom.', 'duration': 116.777, 'max_score': 7160.877, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k7160877.jpg'}, {'end': 7254.843, 'src': 'embed', 'start': 7206.116, 'weight': 11, 'content': [{'end': 7208.797, 'text': "where there's billions of devices and everybody has a voice.", 'start': 7206.116, 'duration': 2.681}, {'end': 7219.862, 'text': "It's almost basically governments and powerful people are slightly losing hold of power and they're starting to freak out a little bit.", 'start': 7209.338, 'duration': 10.524}, {'end': 7220.863, 'text': "That's it.", 'start': 7220.543, 'duration': 0.32}, {'end': 7228.387, 'text': 'And once you have young people that are coming up now, gain power, I think will rebalance everything.', 'start': 7221.463, 'duration': 6.924}, {'end': 7237.733, 'text': "And then there's, like you said, promising signs that it's obvious that the majority of people want freedom.", 'start': 7228.728, 'duration': 9.005}, {'end': 7239.374, 'text': 'And that means a lot of things.', 'start': 7238.254, 'duration': 1.12}, {'end': 7240.615, 'text': 'That means economic freedom.', 'start': 7239.394, 'duration': 1.221}, {'end': 7248.78, 'text': 'that means freedom to have a voice, freedom to move around, freedom to act in the way they you know,', 'start': 7240.615, 'duration': 8.165}, {'end': 7254.843, 'text': "without reasonable sort of limitations by people that don't have their best interests.", 'start': 7248.78, 'duration': 6.063}], 'summary': 'Rise of billions of voices challenges power; promises rebalance for economic and personal freedom.', 'duration': 48.727, 'max_score': 7206.116, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k7206116.jpg'}, {'end': 7417.877, 'src': 'embed', 'start': 7387.127, 'weight': 13, 'content': [{'end': 7388.568, 'text': 'getting back to your question about leadership,', 'start': 7387.127, 'duration': 1.441}, {'end': 7397.774, 'text': 'I think i basically just kept doing things that were a little outside my comfort zone and then my comfort zone kept getting bigger and bigger.', 'start': 7388.568, 'duration': 9.206}, {'end': 7399.295, 'text': "you know, yeah, and so that's.", 'start': 7397.774, 'duration': 1.521}, {'end': 7402.257, 'text': "i think that's how you build confidence.", 'start': 7399.295, 'duration': 2.962}, {'end': 7404.298, 'text': 'is you do the thing?', 'start': 7402.257, 'duration': 2.041}, {'end': 7410.582, 'text': "that's scary and it's like a little outside, and like when i first started coinbase, i had never managed anybody i would have.", 'start': 7404.298, 'duration': 6.284}, {'end': 7411.082, 'text': 'i would have never.', 'start': 7410.582, 'duration': 0.5}, {'end': 7417.877, 'text': 'i would have been scared to death to have put out like a very controversial opinion like that and sort of all right, 5% of people will go.', 'start': 7411.082, 'duration': 6.795}], 'summary': 'Building confidence through stepping outside comfort zone, expanding leadership skills and embracing controversy.', 'duration': 30.75, 'max_score': 7387.127, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k7387127.jpg'}], 'start': 5581.045, 'title': 'Cryptocurrency, nfts & leadership impact', 'summary': "Covers nft potential, crypto adoption, impact of public activism, challenges of leading in silicon valley, coinbase ceo's workplace culture challenges, and the rise of censorship and authoritarianism.", 'chapters': [{'end': 6136.52, 'start': 5581.045, 'title': 'Nfts, cryptocurrency regulations & innovation', 'summary': "Delves into the potential of nfts, the challenges of defining cryptocurrency regulations, and the innovation and expansion efforts at coinbase, including insights on reaching a billion users and the potential for a cryptocurrency to become the world's reserve currency.", 'duration': 555.475, 'highlights': ['Coinbase has 89 million verified accounts, with approximately 10 million active accounts in a given quarter, and globally, there are an estimated 200 million people who have used or tried crypto. Coinbase has a significant user base, with 89 million verified accounts and 10 million active accounts in a quarter, indicating substantial engagement. Globally, an estimated 200 million people have interacted with crypto, highlighting its widespread reach.', 'Innovations in blockchain scalability and clearer regulations are identified as key factors in unlocking potential growth, with discussions on the impact on global adoption and investment from asset managers. Blockchain scalability and clear regulations are seen as critical for unlocking growth potential, with anticipated impact on global adoption and increased investment from asset managers, potentially reaching up to 20% of their portfolio with clearer regulatory guidelines.', "The potential for a cryptocurrency, particularly Bitcoin, to become the world's reserve currency is explored in relation to historical trends and the changing global economic landscape. The discussion explores the potential for Bitcoin to become the world's reserve currency, drawing parallels to historical trends and the evolving global economic landscape, considering factors such as inflation and the rise of other global powers."]}, {'end': 6392.801, 'start': 6137.101, 'title': 'The rise of crypto in financial life', 'summary': 'Discusses the increasing adoption of crypto as the primary wealth storage for tech-savvy individuals in the 25-35 age range, foreseeing a potential shift towards a decentralized west embracing crypto over a more authoritarian east, ultimately positioning bitcoin as the reserve currency of the crypto economy.', 'duration': 255.7, 'highlights': ['The increasing adoption of crypto as the primary wealth storage for tech-savvy individuals in the 25-35 age range. Younger tech-savvy individuals are starting to consider crypto as their primary financial asset, holding their wealth in crypto and converting to fiat currencies as and when needed.', 'Foreseeing a potential shift towards a decentralized West embracing crypto over a more authoritarian East. The chapter anticipates a future where the West, embracing crypto, represents a more open, fair, and free global financial system in contrast to a more centralized and authoritarian East, notably China.', 'Positioning Bitcoin as the reserve currency of the crypto economy. Bitcoin is viewed as the reserve currency and the gold standard of the crypto economy, indicating a significant shift in the financial landscape.']}, {'end': 6667.037, 'start': 6393.662, 'title': 'Impact of public activism on company culture', 'summary': "Discusses the negative impact of public activism on company culture, leading to internal conflicts and distraction from the company's mission, ultimately resulting in the ceo realigning the company towards a focus on work and a refuge from division.", 'duration': 273.375, 'highlights': ["The CEO's decision to realign the company towards a focus on work and a refuge from division, resulting in 5% of employees taking the exit package and a renewed alignment on the company's mission. 5% of employees took the exit package", 'The internal conflicts and distraction caused by employees focusing on broader societal issues rather than work-related matters, leading to disagreements, flame wars on Slack, and ultimately a walkout at the company. Internal conflicts, flame wars on Slack, and a walkout at the company', 'The detrimental impact of public activism on company culture, with the CEO expressing concerns about virtue signaling and the shallow optimization for appearing good rather than solving real problems. Negative impact of public activism on company culture']}, {'end': 6884.202, 'start': 6667.557, 'title': 'Challenges of leading in silicon valley', 'summary': 'Discusses the challenges of leading in silicon valley, addressing the culture of unnecessary division, the rarity of mission-driven innovation, and the impact of media on trust and polarization.', 'duration': 216.645, 'highlights': ['The culture of unnecessary division within people and the emotion it brings out, particularly within the context of company mission, is discussed, highlighting the challenge of maintaining focus on productive disagreements (e.g., increasing economic freedom using crypto) versus emotionally charged non-mission-related topics.', 'The emergence of a culture in cities like San Francisco, historically a hub of innovation, where innovation is driven by mission-oriented individuals, is explored, shedding light on the rarity of such mindset in the broader context of problem-solving and innovation.', "The speaker's personal experience of facing controversy and attacks, and the decision to reshape the company in alignment with personal values, is shared, emphasizing the passion and commitment to the existing venture, despite the challenges and negative responses encountered.", 'The disillusionment with mainstream media and the recognition of its hyper-politicization, leading to erosion of trust and the emergence of new media platforms, is highlighted, expressing the importance of journalism in society and the impact of polarization on media credibility.']}, {'end': 7123.416, 'start': 6884.682, 'title': 'Coinbase ceo on workplace culture', 'summary': 'Outlines the challenges faced by the coinbase ceo in addressing workplace culture, including the resistance from a small percentage of employees, the impact of speaking up, and the positive outcomes in terms of talent acquisition and diversity numbers.', 'duration': 238.734, 'highlights': ['The Coinbase CEO faced challenges in addressing workplace culture, with a small percentage of employees causing significant disruption, while the majority simply wanted to focus on work without drama or distraction.', 'Speaking up about the workplace culture led to an outpouring of support and ultimately freed the CEO from concerns about short-term attacks, enabling a focus on building the desired company.', 'The company received positive outcomes in terms of talent acquisition, with individuals from other tech companies expressing interest in joining Coinbase due to its stance on workplace culture.', 'Despite initial concerns about potential negative impacts on diversity numbers, a year after addressing the workplace culture, the diversity numbers at Coinbase remained either the same or improved in every category.']}, {'end': 7434.453, 'start': 7123.916, 'title': 'Rise of censorship and the future of leadership', 'summary': 'Discusses the rise of censorship and authoritarianism, the impact of the internet on power dynamics, and the evolving concept of leadership, emphasizing the importance of freedom and the potential for change.', 'duration': 310.537, 'highlights': ["The rise of censorship and authoritarianism is a general trend, fueled by the internet's empowerment of individuals and the nervousness of power centers, leading to desperation and resistance. The chapter discusses the general trend of more censorship and cancel culture, attributed to the internet empowering individuals and making power centers nervous, leading to a last gasp of old ways and desperation.", 'The internet is a catalyst for change, enabling billions of devices and voices, leading to a shift in power dynamics and the potential rebalancing of power as young people gain influence. The internet is highlighted as a catalyst for change, empowering billions of devices and voices, leading to a potential rebalancing of power as young people gain influence.', 'The majority of people desire freedom, encompassing economic freedom, freedom of speech, and resistance to government overreach and censorship, with promising signs of regular people fighting for these freedoms. The majority of people desire freedom, including economic freedom, freedom of speech, and resistance to government overreach and censorship, with promising signs of regular people fighting for these freedoms.', "Leadership lessons emphasize the diverse nature of leadership styles, the importance of seeking the truth, and the value of stepping outside one's comfort zone to build confidence. The chapter highlights the diverse nature of leadership styles, the importance of seeking the truth, and the value of stepping outside one's comfort zone to build confidence and grow as a leader."]}], 'duration': 1853.408, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k5581045.jpg', 'highlights': ['Blockchain scalability and clear regulations are critical for unlocking growth potential, with anticipated impact on global adoption and increased investment from asset managers, potentially reaching up to 20% of their portfolio with clearer regulatory guidelines.', "The potential for Bitcoin to become the world's reserve currency is explored in relation to historical trends and the changing global economic landscape, considering factors such as inflation and the rise of other global powers.", 'The increasing adoption of crypto as the primary wealth storage for tech-savvy individuals in the 25-35 age range.', 'Foreseeing a potential shift towards a decentralized West embracing crypto over a more authoritarian East.', 'Positioning Bitcoin as the reserve currency of the crypto economy.', "The CEO's decision to realign the company towards a focus on work and a refuge from division, resulting in 5% of employees taking the exit package and a renewed alignment on the company's mission.", 'The detrimental impact of public activism on company culture, with the CEO expressing concerns about virtue signaling and the shallow optimization for appearing good rather than solving real problems.', 'The culture of unnecessary division within people and the emotion it brings out, particularly within the context of company mission, is discussed, highlighting the challenge of maintaining focus on productive disagreements (e.g., increasing economic freedom using crypto) versus emotionally charged non-mission-related topics.', 'The disillusionment with mainstream media and the recognition of its hyper-politicization, leading to erosion of trust and the emergence of new media platforms, is highlighted, expressing the importance of journalism in society and the impact of polarization on media credibility.', 'The Coinbase CEO faced challenges in addressing workplace culture, with a small percentage of employees causing significant disruption, while the majority simply wanted to focus on work without drama or distraction.', "The rise of censorship and authoritarianism is a general trend, fueled by the internet's empowerment of individuals and the nervousness of power centers, leading to desperation and resistance.", 'The internet is a catalyst for change, enabling billions of devices and voices, leading to a shift in power dynamics and the potential rebalancing of power as young people gain influence.', 'The majority of people desire freedom, encompassing economic freedom, freedom of speech, and resistance to government overreach and censorship, with promising signs of regular people fighting for these freedoms.', "Leadership lessons emphasize the diverse nature of leadership styles, the importance of seeking the truth, and the value of stepping outside one's comfort zone to build confidence."]}, {'end': 7975.132, 'segs': [{'end': 7546.453, 'src': 'embed', 'start': 7521.839, 'weight': 0, 'content': [{'end': 7527.843, 'text': 'Yeah, So anyway, one of the things I once Coinbase went public last year, I had a little bit of liquidity and I was like all right,', 'start': 7521.839, 'duration': 6.004}, {'end': 7528.903, 'text': 'let me fund a small team.', 'start': 7527.843, 'duration': 1.06}, {'end': 7529.544, 'text': "Let's see if we can..", 'start': 7528.963, 'duration': 0.581}, {'end': 7532.68, 'text': 'if they can like go off and make something better here.', 'start': 7530.618, 'duration': 2.062}, {'end': 7534.682, 'text': 'So we have a prototype out there.', 'start': 7532.72, 'duration': 1.962}, {'end': 7536.323, 'text': "It's at researchhub.com.", 'start': 7535.062, 'duration': 1.261}, {'end': 7537.024, 'text': 'People can check it out.', 'start': 7536.343, 'duration': 0.681}, {'end': 7541.528, 'text': "And it's basically, you know, the first version is kind of like Reddit for science.", 'start': 7537.484, 'duration': 4.044}, {'end': 7546.453, 'text': "There's like various hubs, which are like journals, but you know, you can publish papers there.", 'start': 7541.548, 'duration': 4.905}], 'summary': 'Funded small team to create prototype at researchhub.com, like reddit for science.', 'duration': 24.614, 'max_score': 7521.839, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k7521839.jpg'}, {'end': 7634.7, 'src': 'embed', 'start': 7607.612, 'weight': 1, 'content': [{'end': 7616.341, 'text': 'And so if we can somehow create a translation layer between those two groups and help them, you know, helps align the market forces.', 'start': 7607.612, 'duration': 8.729}, {'end': 7619.023, 'text': "align scientific research to market forces so that they're more incentivized.", 'start': 7616.341, 'duration': 2.682}, {'end': 7622.966, 'text': 'Like if you, if you discover CRISPR or something like that, like you should be a billionaire,', 'start': 7619.043, 'duration': 3.923}, {'end': 7628.21, 'text': 'you know and like all the downstream implications of that, not going through some antiquated tech transfer office or whatever.', 'start': 7622.966, 'duration': 5.244}, {'end': 7634.7, 'text': "And if you, And if you're an entrepreneur, you should be looking to commercialize the latest scientific innovations.", 'start': 7628.71, 'duration': 5.99}], 'summary': 'Create a translation layer to align scientific research with market forces, incentivizing discoveries and commercialization.', 'duration': 27.088, 'max_score': 7607.612, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k7607612.jpg'}, {'end': 7688.761, 'src': 'embed', 'start': 7658.241, 'weight': 2, 'content': [{'end': 7664.286, 'text': 'But first, let me say, for people listening who are outside of academia might not be familiar with an absurd situation.', 'start': 7658.241, 'duration': 6.045}, {'end': 7670.59, 'text': "So there's journals, like you mentioned, and scientists publishing those journals.", 'start': 7664.346, 'duration': 6.244}, {'end': 7680.317, 'text': 'And the journals provide very little value except matching you with reviewers that are unpaid.', 'start': 7671.771, 'duration': 8.546}, {'end': 7688.761, 'text': "And so in the digital world, they're providing basically almost no value except hosting your paper.", 'start': 7681.838, 'duration': 6.923}], 'summary': 'Academic journals provide little value, matching unpaid reviewers, offering minimal digital value.', 'duration': 30.52, 'max_score': 7658.241, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k7658241.jpg'}, {'end': 7829.179, 'src': 'embed', 'start': 7807.001, 'weight': 4, 'content': [{'end': 7815.147, 'text': "And so I think we've thought about this a little bit And I think the Research Hub team has an opportunity to do something here that basically says like okay,", 'start': 7807.001, 'duration': 8.146}, {'end': 7821.332, 'text': 'I had the top paper for 2022 in, you know, biology on in here.', 'start': 7815.147, 'duration': 6.185}, {'end': 7829.179, 'text': 'And you basically publish a list of leaderboards of these, like top you know, for the month, the year in all these different categories.', 'start': 7821.352, 'duration': 7.827}], 'summary': 'Research hub aims to publish leaderboards of top papers in various categories, including biology for 2022.', 'duration': 22.178, 'max_score': 7807.001, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k7807001.jpg'}, {'end': 7883.767, 'src': 'embed', 'start': 7851.273, 'weight': 3, 'content': [{'end': 7855.295, 'text': 'And like people want to put that in their wall in the lab and like So.', 'start': 7851.273, 'duration': 4.022}, {'end': 7857.576, 'text': 'I do think we need to sort of change.', 'start': 7855.295, 'duration': 2.281}, {'end': 7862.518, 'text': "I don't know, like the traditional folks in academia or science would probably think this is like a crazy idea,", 'start': 7857.576, 'duration': 4.942}, {'end': 7870.121, 'text': 'but I think we need to change the culture to not celebrate getting published in paywalled journals almost like friends.', 'start': 7862.518, 'duration': 7.603}, {'end': 7874.463, 'text': "don't let friends publish in like paywalled journals, like cause.", 'start': 7870.121, 'duration': 4.342}, {'end': 7876.444, 'text': "that's, it's just not helping humanity.", 'start': 7874.463, 'duration': 1.981}, {'end': 7883.767, 'text': 'So like, you know, it should be more prestigious to publish in an open science way, and get the top spot.', 'start': 7876.484, 'duration': 7.283}], 'summary': 'Advocating for a cultural shift towards open science and away from paywalled journals to benefit humanity and promote prestigious publishing.', 'duration': 32.494, 'max_score': 7851.273, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k7851273.jpg'}, {'end': 7985.08, 'src': 'embed', 'start': 7952.557, 'weight': 5, 'content': [{'end': 7958.942, 'text': "And it's basically if people upvote your paper or support it, you'll accumulate more Research Coin,", 'start': 7952.557, 'duration': 6.385}, {'end': 7961.103, 'text': 'which is basically like rep or like a reward token.', 'start': 7958.942, 'duration': 2.161}, {'end': 7970.509, 'text': "And so that is a way to, I guess, measure the community's collective view of that paper, a form of peer review.", 'start': 7962.224, 'duration': 8.285}, {'end': 7975.132, 'text': 'And it can even be weighted by the reputation of the people voting on it and that sort of thing over time.', 'start': 7971.17, 'duration': 3.962}, {'end': 7985.08, 'text': "um yeah, i think the last thing i'll just say is that so i think, from from a rep like a prestige point of view, it won't start off that way.", 'start': 7976.213, 'duration': 8.867}], 'summary': 'Research coin rewards based on upvotes for peer-reviewed papers.', 'duration': 32.523, 'max_score': 7952.557, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k7952557.jpg'}], 'start': 7434.713, 'title': "Coinbase's open science efforts", 'summary': "Highlights coinbase's creation of research hub, a platform for sharing scientific research, aiming to bridge the gap between research and commercialization, and discusses the impact on academic journal paywalls, lack of value, and potential culture change in academia.", 'chapters': [{'end': 7658.221, 'start': 7434.713, 'title': "Coinbase's efforts in open science", 'summary': "Highlights the creation of research hub, resembling a 'reddit for science', to modernize scientific research by providing an open platform for sharing papers, code, data sets, and funding, aiming to bridge the gap between scientific research and commercialization.", 'duration': 223.508, 'highlights': ["The creation of Research Hub, resembling a 'Reddit for science', to modernize scientific research by providing an open platform for sharing papers, code, data sets, and funding. Coinbase's involvement in creating Research Hub, a platform similar to 'Reddit for science', aims to modernize scientific research by allowing the sharing of papers, code, data sets, and funding, aligning scientific research with market forces.", 'Efforts to bridge the gap between scientific research and commercialization by creating a translation layer to align market forces and incentivize scientists and entrepreneurs. The initiative aims to bridge the gap between scientific research and commercialization by creating a translation layer to align market forces, incentivizing scientists and entrepreneurs to commercialize the latest scientific innovations.', 'The dissatisfaction with the current state of scientific research, including the antiquated funding process, peer review, and paywalled journals. The dissatisfaction with the current state of scientific research is expressed, citing issues with the antiquated funding process, peer review, and paywalled journals, hindering scientific innovation.']}, {'end': 7975.132, 'start': 7658.241, 'title': 'Academic journal paywalls and open science', 'summary': "Discusses the issue of academic journal paywalls, lack of value provided by journals, the digital world's impact, incentives for scientists, the need for open science incentivization, and the potential of research hub to change the culture in academia.", 'duration': 316.891, 'highlights': ['Lack of Value Provided by Journals Journals provide very little value except matching unpaid reviewers, create paywalls, and block research from the world, holding back human knowledge.', 'Incentives for Scientists and Prestige The traditional progress track in academia is about where one is published and the number of citations, creating a false economy of reputation. Research Hub team has an opportunity to create leaderboards, awards, grants, and prizes to incentivize open science and celebrate top papers.', "Crypto Angle and Research Coin Research Hub's Research Coin allows the community to accumulate rewards by upvoting or supporting papers, providing a form of peer review that can be weighted by voters' reputation over time."]}], 'duration': 540.419, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k7434713.jpg', 'highlights': ["Coinbase's creation of Research Hub, a platform similar to 'Reddit for science', aims to modernize scientific research by allowing the sharing of papers, code, data sets, and funding, aligning scientific research with market forces.", 'The initiative aims to bridge the gap between scientific research and commercialization by creating a translation layer to align market forces, incentivizing scientists and entrepreneurs to commercialize the latest scientific innovations.', 'Journals provide very little value except matching unpaid reviewers, create paywalls, and block research from the world, holding back human knowledge.', 'The dissatisfaction with the current state of scientific research is expressed, citing issues with the antiquated funding process, peer review, and paywalled journals, hindering scientific innovation.', 'Research Hub team has an opportunity to create leaderboards, awards, grants, and prizes to incentivize open science and celebrate top papers.', "Research Hub's Research Coin allows the community to accumulate rewards by upvoting or supporting papers, providing a form of peer review that can be weighted by voters' reputation over time."]}, {'end': 8955.645, 'segs': [{'end': 8041.146, 'src': 'embed', 'start': 8012.257, 'weight': 1, 'content': [{'end': 8016.038, 'text': 'the the journals, traditional journals, will be viewed as old-fashioned.', 'start': 8012.257, 'duration': 3.781}, {'end': 8024.621, 'text': "well, it's definitely a a system that could do a lot better and there's a lot of incredible, brilliant people doing science.", 'start': 8016.038, 'duration': 8.583}, {'end': 8025.822, 'text': 'they deserve better.', 'start': 8024.621, 'duration': 1.201}, {'end': 8026.882, 'text': 'the better platforms, yeah.', 'start': 8025.822, 'duration': 1.06}, {'end': 8032.953, 'text': "So another thing you're taking on and helping out with is this new limit, which is looking at longevity.", 'start': 8027.483, 'duration': 5.47}, {'end': 8035.017, 'text': "What's the idea there??", 'start': 8033.935, 'duration': 1.082}, {'end': 8041.146, 'text': "yeah, okay, so, as you can see, i'm excited about science, like i think you know science is sort of the.", 'start': 8035.683, 'duration': 5.463}], 'summary': 'Improving traditional journals for science with better platforms and focusing on longevity.', 'duration': 28.889, 'max_score': 8012.257, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k8012257.jpg'}, {'end': 8152.986, 'src': 'embed', 'start': 8132.526, 'weight': 0, 'content': [{'end': 8143.819, 'text': "And they're basically building a platform that can test a lot of different transcription factors on different cell types and hopefully find ways to rejuvenate different types of cells and tissues.", 'start': 8132.526, 'duration': 11.293}, {'end': 8145.44, 'text': 'to extend human health span.', 'start': 8144.339, 'duration': 1.101}, {'end': 8147.482, 'text': 'I mean the moonshot goal here.', 'start': 8145.48, 'duration': 2.002}, {'end': 8152.986, 'text': "you know the get to Mars is that there could be some therapy here that in I don't know,", 'start': 8147.482, 'duration': 5.504}], 'summary': 'Developing a platform to test transcription factors on various cell types to rejuvenate cells and tissues, aiming to extend human health span.', 'duration': 20.46, 'max_score': 8132.526, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k8132526.jpg'}, {'end': 8261.679, 'src': 'embed', 'start': 8234.218, 'weight': 2, 'content': [{'end': 8242.788, 'text': 'but like you have to deal with, uh, the actual sort of um to get to human, to get to just stuff where it could be, uh,', 'start': 8234.218, 'duration': 8.57}, {'end': 8245.55, 'text': 'therapies for actual human bodies.', 'start': 8242.788, 'duration': 2.762}, {'end': 8253.495, 'text': "um is tricky because you have to prove that it's safe, it's effective, all those kinds of things with FDA.", 'start': 8245.55, 'duration': 7.945}, {'end': 8254.736, 'text': "I mean, it's just, it's tricky.", 'start': 8253.556, 'duration': 1.18}, {'end': 8257.437, 'text': "It's very difficult.", 'start': 8254.936, 'duration': 2.501}, {'end': 8258.418, 'text': "It's a long journey.", 'start': 8257.517, 'duration': 0.901}, {'end': 8261.679, 'text': 'I mean- If I can give a quick plug.', 'start': 8258.538, 'duration': 3.141}], 'summary': 'Developing therapies for human bodies is tricky, requiring proof of safety and effectiveness with fda, making it a long and difficult journey.', 'duration': 27.461, 'max_score': 8234.218, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k8234218.jpg'}, {'end': 8373.978, 'src': 'embed', 'start': 8338.377, 'weight': 3, 'content': [{'end': 8340.938, 'text': "They want to have fulfilling work, a way that they can feel like they're contributing.", 'start': 8338.377, 'duration': 2.561}, {'end': 8348.849, 'text': 'I think a lot of people, young people today are thinking like, you know, I should be an activist or something like that.', 'start': 8342.764, 'duration': 6.085}, {'end': 8353.652, 'text': "And there's people in the world who have power and I don't, a lot of people who don't, I don't have power.", 'start': 8349.67, 'duration': 3.982}, {'end': 8363.879, 'text': 'And so the way to change the world is to, you know, speak truth to power or like criticize power and try to pressure them to change.', 'start': 8353.812, 'duration': 10.067}, {'end': 8365.67, 'text': 'To me.', 'start': 8365.41, 'duration': 0.26}, {'end': 8373.978, 'text': "I don't think that's the right way to actually have an impact on the world, because everybody has probably, I think,", 'start': 8365.67, 'duration': 8.308}], 'summary': 'Many young people seek impactful work, often leaning towards activism, but the speaker believes in a different approach for world change.', 'duration': 35.601, 'max_score': 8338.377, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k8338377.jpg'}, {'end': 8445.014, 'src': 'embed', 'start': 8401.301, 'weight': 4, 'content': [{'end': 8410.148, 'text': 'So be the person in the arena, like that Theodore Roosevelt quote, I think he said it, right? Like go chew glass and stare into the abyss.', 'start': 8401.301, 'duration': 8.847}, {'end': 8416.633, 'text': "Like, if you really wanna have an impact, either join a company that has a mission that is trying to fix the thing you're passionate about,", 'start': 8410.188, 'duration': 6.445}, {'end': 8423.078, 'text': "or start that company if it doesn't exist, or start a charity if it's not suitable to be a company, or whatever it is,", 'start': 8416.633, 'duration': 6.445}, {'end': 8425.5, 'text': 'but go try to be a part of the solution.', 'start': 8423.078, 'duration': 2.422}, {'end': 8429.302, 'text': "Don't just criticize or be a part of the problem.", 'start': 8425.72, 'duration': 3.582}, {'end': 8439.85, 'text': 'My hope is that more people can, you know, realize that they actually can have a meaningful impact that way.', 'start': 8430.383, 'duration': 9.467}, {'end': 8445.014, 'text': 'And I think that to me, technology is actually one of the most important ways to improve the world.', 'start': 8439.91, 'duration': 5.104}], 'summary': 'Join a mission-driven company or start one to make a meaningful impact in the world through technology.', 'duration': 43.713, 'max_score': 8401.301, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k8401301.jpg'}, {'end': 8823.413, 'src': 'embed', 'start': 8781.263, 'weight': 6, 'content': [{'end': 8785.146, 'text': 'um, maybe you want to publish a book or like, do something creatively or whatever.', 'start': 8781.263, 'duration': 3.883}, {'end': 8788.489, 'text': 'anyway, you you know, i think like within.', 'start': 8785.146, 'duration': 3.343}, {'end': 8796.156, 'text': "no, it's probably more like 10 years of me writing that goal down.", 'start': 8790.13, 'duration': 6.026}, {'end': 8797.917, 'text': 'Coinbase had a valuation over a billion dollars.', 'start': 8796.156, 'duration': 1.761}, {'end': 8802.161, 'text': 'So it was out of my realm of what was even possible.', 'start': 8798.838, 'duration': 3.323}, {'end': 8807.906, 'text': 'And then within 10 years, you can accomplish more in 10 years than you think, less than a year than you think.', 'start': 8802.921, 'duration': 4.985}, {'end': 8811.269, 'text': "So now I'm like okay, what's the next goal??", 'start': 8808.486, 'duration': 2.783}, {'end': 8812.43, 'text': "What's the okay?", 'start': 8811.669, 'duration': 0.761}, {'end': 8819.372, 'text': 'maybe I want to get a billion people accessing the open financial system through our products every day.', 'start': 8812.43, 'duration': 6.942}, {'end': 8821.593, 'text': 'You know, that would be cool for for humanity.', 'start': 8819.392, 'duration': 2.201}, {'end': 8823.413, 'text': "And that's a pretty crazy goal.", 'start': 8821.673, 'duration': 1.74}], 'summary': '10 years to achieve a billion-dollar valuation; aiming for a billion users accessing the financial system daily.', 'duration': 42.15, 'max_score': 8781.263, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k8781263.jpg'}, {'end': 8925.912, 'src': 'embed', 'start': 8896.011, 'weight': 8, 'content': [{'end': 8903.638, 'text': 'but my very rational brain interpretation of it is that if you just wake up every day and write down like what you want to get done and towards your longer goals,', 'start': 8896.011, 'duration': 7.627}, {'end': 8906.521, 'text': "your larger goals, it's just on your mind that day.", 'start': 8903.638, 'duration': 2.883}, {'end': 8908.924, 'text': 'So you start to notice opportunities and you think about it more so.', 'start': 8906.601, 'duration': 2.323}, {'end': 8910.904, 'text': 'So Brian, thank you for dreaming big.', 'start': 8909.383, 'duration': 1.521}, {'end': 8917.147, 'text': "Thank you for doing what you're doing doing incredible engineering at scale,", 'start': 8912.064, 'duration': 5.083}, {'end': 8925.912, 'text': "trying to help people from all over the world and actually helping me personally get more into crypto, just because it's so easy.", 'start': 8917.147, 'duration': 8.765}], 'summary': 'Writing down daily goals increases focus and opportunities, aiding personal growth and expanding interests like crypto.', 'duration': 29.901, 'max_score': 8896.011, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k8896011.jpg'}], 'start': 7976.213, 'title': 'Embracing science, technology, and aspirations', 'summary': 'Discusses the evolution of scientific prestige, cell reprogramming for human health, advice for young individuals to make an impact through technology, and the significance of dreaming big to achieve substantial goals, including the journey of brian armstrong in building a billion-dollar tech company.', 'chapters': [{'end': 8294.493, 'start': 7976.213, 'title': 'New limit: advancing science and prestige', 'summary': 'Discusses the potential shift in prestige from traditional journals to new platforms in science, as well as the pursuit of innovative research in cell reprogramming to extend human health span and the challenges of venturing into biotech.', 'duration': 318.28, 'highlights': ['The pursuit of innovative research in cell reprogramming to extend human health span and rejuvenate different types of cells and tissues is discussed, with the moonshot goal of developing therapies to rejuvenate the entire body, including the brain, in the next 10 to 20 years. The chapter discusses the pursuit of innovative research in cell reprogramming, aiming to rejuvenate different types of cells and tissues to extend human health span. The moonshot goal is to develop therapies that rejuvenate the entire body, including the brain, in the next 10 to 20 years.', 'The potential shift in prestige from traditional journals to new platforms in science is highlighted, with the aspiration for new platforms to be viewed as more prestigious than traditional journals, providing better opportunities for young people to publish in science. The chapter discusses the potential shift in prestige from traditional journals to new platforms in science, aspiring for the new platforms to be viewed as more prestigious, providing better opportunities for young people to publish in science than traditional journals.', 'The challenges of venturing into biotech are outlined, emphasizing the complexity and risk associated with bio-related endeavors, as well as the need to prove safety and effectiveness, making it a difficult and lengthy journey. The chapter outlines the challenges of venturing into biotech, emphasizing the complexity and risk associated with bio-related endeavors, as well as the need to prove safety and effectiveness, making it a difficult and lengthy journey.']}, {'end': 8543.601, 'start': 8295.085, 'title': 'Advice for young people: making an impact with technology', 'summary': 'Discusses the advice for young people to make a meaningful impact on the world by pursuing fulfilling work, joining or starting companies with a mission to solve real-world problems, and leveraging technology for positive change.', 'duration': 248.516, 'highlights': ['Young people should seek fulfilling work and aim to have a meaningful impact on the world, rather than just pursuing happiness. ', "Encourages young people to join or start companies with a mission to fix the issues they are passionate about, or start a charity if it's not suitable to be a company. ", 'Technology is one of the most important ways to improve the world, as it can address issues like climate change, education, transportation, and global freedom. ', 'Expresses a hope that more young people will realize their power to have a meaningful impact and encourages them to get started with anything and have the optimism to create change. ', "Emphasizes that it's easy to distract oneself by being a critic, but everyone has the power to be the fixer and make a positive impact. "]}, {'end': 8955.645, 'start': 8545.503, 'title': 'Meaning of life and dreaming big', 'summary': "Explores the meaning of life, the pursuit of economic freedom, and the importance of dreaming big to achieve significant goals, with a focus on the concept of writing down goals and making them a reality, exemplified by the journey of brian armstrong from setting a goal of starting a billion-dollar tech company to achieving it with coinbase's valuation over a billion dollars.", 'duration': 410.142, 'highlights': ["Brian Armstrong's journey from setting a goal of starting a billion-dollar tech company to achieving it with Coinbase's valuation over a billion dollars. Coinbase had a valuation over a billion dollars within 10 years of Brian Armstrong setting the goal, showcasing the significance of dreaming big and achieving ambitious goals.", 'The importance of dreaming big and constantly setting larger goals, such as aiming for a billion people accessing the open financial system through their products every day. Brian Armstrong emphasizes the importance of dreaming big and setting larger goals, exemplified by his aim of having a billion people accessing the open financial system through their products every day.', "The concept of writing down goals and consistently working towards them to notice opportunities and achieve larger goals. The chapter emphasizes the concept of writing down goals and consistently working towards them as a way to notice opportunities and achieve larger goals, showcasing its role in Brian Armstrong's journey."]}], 'duration': 979.432, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/VBPTFlpv31k/pics/VBPTFlpv31k7976213.jpg', 'highlights': ['The pursuit of innovative research in cell reprogramming to extend human health span and rejuvenate different types of cells and tissues, with the moonshot goal of developing therapies to rejuvenate the entire body, including the brain, in the next 10 to 20 years.', 'The potential shift in prestige from traditional journals to new platforms in science, aspiring for the new platforms to be viewed as more prestigious, providing better opportunities for young people to publish in science than traditional journals.', 'The challenges of venturing into biotech, emphasizing the complexity and risk associated with bio-related endeavors, as well as the need to prove safety and effectiveness, making it a difficult and lengthy journey.', 'Young people should seek fulfilling work and aim to have a meaningful impact on the world, rather than just pursuing happiness.', "Encourages young people to join or start companies with a mission to fix the issues they are passionate about, or start a charity if it's not suitable to be a company.", 'Technology is one of the most important ways to improve the world, as it can address issues like climate change, education, transportation, and global freedom.', "Brian Armstrong's journey from setting a goal of starting a billion-dollar tech company to achieving it with Coinbase's valuation over a billion dollars, showcasing the significance of dreaming big and achieving ambitious goals.", 'The importance of dreaming big and constantly setting larger goals, such as aiming for a billion people accessing the open financial system through their products every day.', "The concept of writing down goals and consistently working towards them as a way to notice opportunities and achieve larger goals, showcasing its role in Brian Armstrong's journey."]}], 'highlights': ['Coinbase, with 98 million users in 100 countries, is the largest cryptocurrency exchange platform, listing Bitcoin, Ethereum, Cardano, and over 100 popular cryptocurrencies.', 'The SEC probe into certain crypto listings as securities poses a potential challenge to innovation and financial freedom, despite aiming to limit fraud.', 'Cryptocurrency aims to revolutionize the fundamental technological, economic, social, and philosophical aspects of money and information, seeking to redefine how money works and what it can do.', 'Working with regulators and governments is a long and difficult road for Coinbase and Brian Armstrong in their endeavor to shape the next chapter of money.', 'The conversation aims to transcend the distraction of cryptocurrency price fluctuation, focusing on the underlying ideas of this new form of money, energy, and information.', "Armstrong's programming journey: Java to PHP, Ruby, Lisp.", 'Coinbase aims to be primary financial account for crypto economy.', 'The proof of concept site can uniquely track and identify users without the need for cookies, offering a workaround to identify a unique person even in the absence of cookies.', 'The challenge of distinguishing between real users and robots in a data-rich but visually obscured environment is discussed, offering a fascinating insight into the complexities of online identification.', "Coinbase's journey from the creation of the first prototype to achieving product-market fit after launching the buy Bitcoin feature The chapter details the early days of Coinbase, from the creation of the first prototype, facing skepticism, struggles, and self-doubt, to finally achieving product-market fit after launching the buy Bitcoin feature, resulting in a significant increase in users.", 'Dealing with bug affecting thousands of users The speaker faced a bug on the website that affected thousands of people, leading to public outcry and negative feedback on social media.', 'Coping with public criticism The speaker encountered public criticism and backlash on social media, including the feeling of a thousand people being mad at him simultaneously, which was a new and discouraging experience.', "The potential for Bitcoin to become the world's reserve currency is explored in relation to historical trends and the changing global economic landscape, considering factors such as inflation and the rise of other global powers.", 'Regulators are increasingly embracing the innovation potential of cryptocurrency while aiming to prevent illicit activities, with a significant shift observed over the last five years.', 'Blockchain scalability and clear regulations are critical for unlocking growth potential, with anticipated impact on global adoption and increased investment from asset managers, potentially reaching up to 20% of their portfolio with clearer regulatory guidelines.', 'The pursuit of innovative research in cell reprogramming to extend human health span and rejuvenate different types of cells and tissues, with the moonshot goal of developing therapies to rejuvenate the entire body, including the brain, in the next 10 to 20 years.']}