This Week in Startups Coinbase's mutable messaging, Revitalizing Peloton and High-growth companies poised for a comeback | E1391
Feb 23, 2022
Coinbase's CEO finds himself in hot water for allegedly not crediting the original idea behind a viral Super Bowl ad. Meanwhile, Peloton's new leader envisions transforming the company into an open platform for fitness creators, shaking up the competitive landscape. The hosts also analyze the current state of tech stocks, highlighting several high-growth companies that have experienced significant downturns, yet forecast potential comebacks for some. Amidst market volatility, discussions spark excitement about innovative solutions and sustainability in the startup ecosystem.
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Coinbase Ad Agency Controversy
- Brian Armstrong, Coinbase CEO, tweeted about their Super Bowl ad's success, claiming no ad agency would conceive of such an ad.
- The Martin Agency, an award-winning firm, called him out, providing receipts that they pitched the idea to Coinbase.
Crisis Management Advice
- Publicly thank the agency and acknowledge their contribution.
- Offer further compensation or a public recommendation to show goodwill.
Peloton's Platform Strategy
- Peloton's new CEO, Barry McCarthy, suggests opening the platform to fitness creators, fostering growth and innovation.
- He also proposes a subscription model bundling hardware and software, increasing accessibility.
