The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

20VC: Coinbase President & COO Emilie Choi on Building Coinbase Ventures into One of the Best Performing Funds with 0 Employees, How Coinbase Thinks Through Internal Resource Allocation and Prioritisation & Why, When and How To Hire Your COO and Head of C

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Aug 23, 2021

Emilie Choi, the President and COO of Coinbase, shares her impressive journey from corporate development at LinkedIn to steering one of the leading names in cryptocurrency. She reveals how Coinbase Ventures thrives without dedicated employees and discusses the strategic hiring process for key roles like COO and Head of Corp Dev. Emilie emphasizes the importance of a collaborative culture, effective onboarding, and how to prioritize resources for innovation while managing a fast-paced startup environment.

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ANECDOTE

Yahoo Beginnings

Emilie Choi's initial interest in Silicon Valley stemmed from a fascination with technology and Yahoo's central role in the early internet era.
Working on deals like Alibaba and Flickr alongside figures like Jeff Weiner and Stuart Butterfield solidified her passion for startups.

ADVICE

Premature Corp Dev Hiring

Startups experiencing FOMO often prematurely hire Heads of Corp Dev.
Founders should honestly assess their M&A readiness and ensure alignment with the board and product teams.

ADVICE

Corp Dev Interview Structure

Structure Corp Dev interviews with varied topical areas, including presentations and Q&A.
Use a panel approach to gauge cultural fit and assess presentation skills, communication style, and depth of experience.

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Emilie Choi is the President and Chief Operating Officer @ Coinbase, the easiest place to buy and sell cryptocurrency. Prior to their IPO earlier this year, Coinbase raised funding from some of the best in the business including USV, a16z, Initialized and Ribbit to name a few. As for Emilie, before Coinbase she was Head of Corporate Development for @ LinkedIn and before Linkedin served in various positions at Warner Bros., including as Manager of Corporate Business Development and Strategy. If that was not enough, Emilie currently serves on the board of Naspers and ZipRecruiter.

In Today’s Episode with Emilie Choi You Will Learn:

1.) How Emilie made her way into the world of startups, came to lead Corp Dev @ Linkedin and how that led to her joining forces with Brian @ Coinbase as COO & President? What lessons did Emilie learn from Reid Hoffman and Jeff Weiner that she has taken with her to Coinbase?

2.) Corp-Dev Guide: Why are so many startups trying to hire Head of Corp Devs today? What are the signals that suggest now is the right time? How would Emilie structure the process of hiring a Head of Corp Dev? What questions should be asked? How can you test their skills? What mistakes do CEOs often make when hiring Head of Corp Devs?

3.) COO Guide: What does the role of COO really mean to Emilie? How does Emilie advise founders on whether they do actually need a COO? How would Emilie structure the process of hiring a COO? What are some common red flags that concern Emilie when hiring COO's? What is the right relationship between CEO and COO?

4.) Resource Allocation: How does Coinbase think about internal resource allocation between core product and their venture products? What was the thinking behind Coinbase Ventures? Why do they have no full-time staff? What is the core objective of the fund? Why does Emilie think it will be one of the best performing funds in venture?

Item’s Mentioned In Today’s Episode with Emilie Choi

Emilie’s Favourite Book: The Secret History