One of the most striking insights from Coinbase's State of Crypto summit today came from @barmstrong's fireside: how is it that Coinbase is such a startup factory? There are more paths to a yes than a no

Twice a year, Coinbase holds an internal pitch competition, where anyone can suggest an initiative for Coinbase to pursue. Every internal leader has a budget for these venture-like bets; all it takes is ONE yes to get an initiative greenlit

When making venture bets, there are often far more paths to a "no" than a "yes" - it's often easier to imagine how something can go wrong than how it can go really right. Coinbase inverted this model and my guess is that it's a big part of the reason why Coinbase is such an impressive founder factory