Emilie Choi, President and COO at Coinbase, discusses her journey and strengths, sensitivity in the workplace, working with mission-oriented crypto entrepreneurs, and the current direction of cryptocurrency. Also covered are Coinbase's product strategy, impressive financial numbers, building resilience and grit, preparation for leadership roles, Coinbase Ventures and their investments, and the power of hiring engineers for crypto projects.
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Quick takeaways
Emilie Choi transformed her weakness into a competitive advantage in her role as President and COO at Coinbase.
Showing vulnerability in the workplace can foster connections and cultivate a sense of unity across teams.
Working with mission-oriented crypto entrepreneurs brings a refreshing perspective and aligns with Emilie Choi's values.
Deep dives
Importance of Embracing Innovation and Entrepreneurship
To be a true innovator and entrepreneur, one must be open to the idea that different experiences around older technologies can be game changers. Examples like Slack and its impact on productivity demonstrate the importance of embracing new ideas and experiences.
The Value of Learning and Growth
After nearly 10 years at LinkedIn, the decision to move on was driven by a desire for continued learning and growth. The opportunity to join Coinbase provided a steep learning curve and the chance to be at the forefront of the next technology frontier.
Resilience and Grit in the Crypto Industry
The cryptocurrency industry, including companies like Coinbase, requires resilience and grit to navigate the volatility and challenges. Building a culture of resilience and the ability to weather crypto winters is crucial in this rapidly evolving space.
Joining Coinbase amidst volatility
Joining Coinbase in the midst of a volatile cryptocurrency market, the speaker reflects on the decision to leave a stable job for a role at Coinbase. Despite facing significant drops in the value of Bitcoin, the speaker emphasizes the need for a long-term perspective and tolerance for volatility when working in the crypto industry. The support of experienced crypto enthusiasts within the company helped the speaker weather the challenging period.
Recruiting for a crypto company
Recruiting for Coinbase during a period of market decline posed unique challenges. The speaker shares their strategy for identifying and attracting individuals who were willing to take on the risks associated with working in the crypto industry. They sought candidates who had a long-term mindset and were open to the potential of crypto becoming a major force in the future. The speaker also highlights the importance of finding people who align with the company's values and are willing to look beyond short-term market fluctuations.
"Crypto" is a term that has recently re-shaped the way the world thinks about money. For Emilie Choi, President and COO at Coinbase, it has been at the forefront of her work and mind for quite some time. Emilie is a true workplace warrior and that is reflected in her leadership at Coinbase as she has cultivated an ethos that endears her entire organization and those she works alongside.
In this episode, Emilie doesn’t pull the punches as she divulges her own strengths and weaknesses and how she strives to make them both equal assets. She also expounds on fostering connections in the workplace, her mission-oriented mindset, and how it is a mindset she likes to see in entrepreneurs. Emilie also offers essential insight into the current shape of cryptocurrency and the exciting direction that it is headed.
In this episode, we cover:
Emilie’s competitive advantage and how she transformed her weakness into an asset. (3:35)
Sensitivity in the workplace: Emilie opens up about a time when she showed her vulnerability in her “top of mind” email to the organization and how that cultivated a connection across the teams. (7:34)
Building out LinkedIn’s Corp Dev team in its early stages and how entrepreneurs successfully ran LinkedIn’s three business lines. (9:21)
Missionary vs mercenary: Emilie shares why it’s refreshing to work with crypto entrepreneurs who are mission-oriented - and Joubin taps into his recent experience with hiring a candidate. (13:00)
Why Emilie admires Amazon’s core business strategy - and her opinion on companies she would hypothetically buy. (17:36)
How Emilie’s desire to continue learning led her to make a lateral move from LinkedIn to Coinbase - and how she navigated the recruitment process of her team. (22:10)
An overview of Coinbase: assets, revenue, long-term trajectory, and their three main focuses - and Emilie breaks down Coinbase’s innovation by comparing it to the evolution of mobile phones. (31:10)
‘Volatility is a feature, not a bug’: What volatility means for Coinbase - and why Amazon and Adobe serve as an influence for Coinbase as they invest in their future acts. (38:38)
Weathering the crypto winter: How Emilie frames investing in crypto to potential buyers - and how she integrates grit and resilience into her role and across the organization. (43:47)
Emilie shares her thoughts on Coinbase’s %5 employee departure after their pledge to be apolitical - and what she admires about the Coinbase CEO, Brian Armstrong. (49:09)
Emilie reflects on what she has learned as she grew into COO and President - and how Coinbase grew to be the number one regulated crypto custodian in the world. (56:22)