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20VC: Biggest Challenge Facing Crypto Today & The Winners and Losers of the Next 10 Years | Why AI Will Lead to More Wealth Equality Than Inequality | Why The Current State of the US Feels Like the End of an Empire with David Marcus, CEO @ Lightspark

Apr 14, 2023

David Marcus, co-founder and CEO of Lightspark and former payment lead at Facebook, shares his journey from personal loss to entrepreneurial success. He discusses the downfall of Diem and the pivotal lessons learned from working alongside Mark Zuckerberg. Marcus addresses the current challenges in crypto, the potential for AI to reduce income inequality, and the regulatory hurdles facing innovation in the U.S. He emphasizes the importance of talent in building successful teams and shares insights on the future of cryptocurrency and economic revitalization.

36:37

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David Marcus

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Episode notes

Intro

4min

From Setbacks to Startups

11min

Navigating Innovation and Regulatory Challenges

13min

Navigating Personal Finance and Current Economic Challenges

2min

Choosing LA: Building LightSpark and The Importance of Talent

2min

Future Visions and Essential Tools for Startup Efficiency

4min

David Marcus is the co-founder and CEO of Lightspark, building infrastructure that extends the capabilities and utility of Bitcoin. Prior to Lightspark, David led all payment and crypto efforts at Facebook/Meta and scaled Messenger to 1.5BN users. David previously founded three other companies: Zong (acquired by eBay/PayPal for $240M), Echovox (acquired by MBO), and GTN (acquired by World Access).

In Today's Episode with David Marcus We Discuss:

1. From Losing Everything to Becoming Changing the World of Fintech:

How did seeing his family lose everything lead to David starting his first company, GTN?
Does David believe that great companies can be built in Europe?
What are the biggest mistakes David made with Zong? How did they impact his mindset?

2. The Secret to Building a Great Company from Mark Zuckerberg's ex-Right Hand Man:

Where does David think Paypal lost its way?
How did David "brutally" change PayPayl's company culture when he came in?
What worked and what didn't in scaling Messenger to 1.5BN users?
Why did Diem (formerly Libra) fail? How did David know when to give up that fight?
What is David's biggest lesson from working with Mark Zuckerberg?

3. Crypto & AI's Ripple Effect on The Rest of The World:

What will be the fallout from the de-banking of crypto?
How does David think the future of AI will impact income equality?
If David was in charge of the SEC, what would he do first?
What worries David most about the next 1-5 years in the crypto industry?
What are the most significant signs that the tea leaves not looking great for the US dollar?

4. How The Best Leaders Hire The Best Talent:

Why does David believe that naivety is good for entrepreneurs?
Does David believe we'll be in a worse macro position by the end of the year?
How has David changed most as a leader over time?
What is David's biggest piece of advice in regard to hiring across many different companies?

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