a16z Podcast Ben Horowitz and Brian Armstrong on Building and Overcoming the Hard Things
21 snips
Dec 8, 2022 
Brian Armstrong, co-founder and CEO of Coinbase, sheds light on the recent FTX scandal and its implications for regulatory frameworks in the crypto world. He discusses the psychological toll on founders during downturns and the critical need for ethical practices. Armstrong emphasizes the significance of self-custody and user experience as the industry evolves. Ben Horowitz interjects with insights from his extensive experience in navigating leadership challenges, underscoring the balance between innovation and regulatory compliance.
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SBF's Rise
- Brian Armstrong was surprised by SBF's rapid rise in the crypto scene.
- He initially dismissed his concerns, attributing them to ego.
Building for the Long Term
- Acknowledge and address fraud within the crypto industry.
- Focus on building for the long term instead of quick profits.
Regulation and Decentralization
- Regulation is necessary, but regulators share some blame for the FTX situation.
- Decentralization through DeFi and self-custody is the ultimate solution.
