This Week in Startups News! Bitcoin hits $50K, monetizing Clubhouse, drafting the Mount Rushmore of Tech CEOs & more with Acquired FM | E1175
Feb 19, 2021
Ben Gilbert, co-founder of Pioneer Square Labs and co-host of Acquired FM, joins David Rosenthal, an independent angel investor and also co-host of Acquired FM. They delve into Bitcoin's recent surge to $50K, exploring its implications for investments and whether it's a bubble. The duo discusses monetization strategies for Clubhouse, debating its valuation and potential revenue streams. They also engage in a fun 'Mount Rushmore' draft of tech CEOs, passionately arguing about figures like Jeff Bezos and Elon Musk's legacies.
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Money as a Bubble
- All money derives value from scarcity and shared belief, existing as a bubble.
- Bitcoin's value, like fiat currency, isn't intrinsic but based on perceived scarcity and trust.
Bitcoin's Remarkable Value
- Bitcoin's value, exceeding Facebook's, stems from its perceived hack-proof nature and store-of-value status.
- Its trillion-dollar market cap on a decentralized network is a remarkable feat.
Dollar-Cost Averaging into Bitcoin
- Dollar-cost average into Bitcoin, dividing your investment into smaller chunks.
- Buy more when the price drops, mitigating risk while benefiting from potential upside.