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Coinbase from YC to DPO

blog.ycombinator.com

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Re: Coinbase from YC to DPO

#821

Post by ryanmercer »

Simon321 wrote: post #542
paulpauper wrote: post #357

Earlier quoted context omitted.

i dunno how people say VCs have a return of only 9% year when Ycombinator is absolutely crushing that even with a high failure rate. AirBNB, box, dropbox, coinbase, etc. Paul stumbled on an absolute goldmine by just giving a bunch of promising companies with good founders 10k in exchange for a decent portion of equity and then some of these companies being worth billions. NOw you know what those homes and are so expe…

What is the return like for Ycombinator?

They currently take 7% of the company for $125k per https://www.ycombinator.com/deal/

I know in the past though that, at a minimum, the amount of money was different. I'd say it's still safe to assume they own 7% though - so more than a billion USD on paper, not bad.

Re: Coinbase from YC to DPO

#822

Post by delaaxe »

paulpauper wrote: post #364

And down bitcoin goes. $3k off the highs. If given a choice between 1 million to invest in in a large cap growth stock portfolio vs. Bitcoin, I would choose the stock portfolio every time. Crypto too volatile relative to upside. Airbnb and other big tech growth stocks have much smoother returns which can be magnified with some leverage strategies.

“crypto too volatile”. Jesus Christ people are stubborn. On the day Coinbase stock falls 30% and Bitcoin drops just a few percent people still claim crypto too volatile

Re: Coinbase from YC to DPO

#823

Post by ryanmercer »

throwaway4good wrote: post #368
aqme28 wrote: post #354

Earlier quoted context omitted.

It's not even nearly the biggest exchange! Binance trades 10x the volume, so if Coinbase is worth 1/10 of the crypto market, is Binance worth 1x the crypto market?

Yep. It seems crazy - if you take all the stock market brokers and exchanges and compare it to the full stock market, their value is only a tiny part. However for crypto exchanges ... well ... what is going on here?

>what is going on here?

FOMO.

Re: Coinbase from YC to DPO

#824

Post by ryanmercer »

TameAntelope wrote: post #120

Is there any way of knowing how much YC made on the IPO? Ballpark/order of magnitude? Always curious to see what a win looks like from the accelerator side.

YC currently takes 7% when they invest https://www.ycombinator.com/deal/

I know, at a minimum, the dollar amount has changed over the years (gone up) but I'm not certain if the percentage has changed.

So if they can realize all of that at current price, a lot. Enough to keep running for many years.

Re: Coinbase from YC to DPO

#825

Post by mensetmanusman »

pm90 wrote: post #784
mensetmanusman wrote: post #580

Earlier quoted context omitted.

Governments love crypto because it is easier to track than cash once it is used for a fiat exchange. Not sure why they would be against it.

Because they can’t control the supply.

Not necessarily, you can see lots of governments explicitly (or discreetly?) starting crypto currencies to effectively increase supply.

Re: Coinbase from YC to DPO

#826

Post by ryanmercer »

sjg007 wrote: post #760

So we missed Dropbox, Airbnb and coinbase. What idea do we all think is bad? ISAs?

I mean, I have an NFT of the only known recording of my father's voice. He passed in 1998 when I was a kid. Rumor on the street is that NFT is going to be worth eleventy trillion galactic credits some day ;P

Re: Coinbase from YC to DPO

#827

Post by quickthrower2 »

lmm wrote: post #799
quickthrower2 wrote: post #790

Earlier quoted context omitted.

They are, but at the same maybe they’ll get big enough to get small fines for big crimes like HSBC helping out the cartels.

I hate this meme. HSBC used their judgement about something for which the law said they had to use their judgement. Then their judgement turned out to be wrong and apparently that's now a crime. Foreign exchange has legitimate use cases, it's not remotely comparable to cryptocurrencies.

Turning a blind eye to money laundering especially when given chances to fix it, and given that money laundering is enabling criminal enterprise that fucks up everyones life, from a household name bank that used to be my high school bank (point is how they market themselves as a nice bank) well I don’t know what to say. Not a meme though.

Re: Coinbase from YC to DPO

#828

Post by ckue »

olalonde wrote: post #606

Fun trivia: Brian Armstrong was looking for a co-founder on HN back in 2012: https://news.ycombinator.com/item?id=3754664

Pretty sure ijoey on this thread is a time traveller, as BTC/USD reached $60k when Coinbase IPO'd

> Boy. This is the 60000 dollar question isn't it? Who wants to be my partner? Good luck. I really hope you find them. Taking on the credit card industry is going to be awesome!

https://news.ycombinator.com/item?id=3754835

Re: Coinbase from YC to DPO

#829

Post by alvah »

dd36 wrote: post #731
sneak wrote: post #640

Earlier quoted context omitted.

I spoke to him on the phone within a few hours of that post, as I had already prototyped an app to do what was described. I didn't launch mine, nor participate in his (obviously). I suggested that a business in that space, if successful, would result in a similar outcome as happened to other founders of international money transmission systems that weren't under direct government control: i.e. swatting. He was not di…

If the last few decades tell us anything, it’s once you’re large and have a lot employees, you’re above any regulation that would put you out of business. Slaps on the wrist are the worst you can expect.

Arthur Andersen and their ~85,000 employees would like a word.

Re: Coinbase from YC to DPO

#830

Post by st1ck »

sneak wrote: post #640
olalonde wrote: post #606

Fun trivia: Brian Armstrong was looking for a co-founder on HN back in 2012: https://news.ycombinator.com/item?id=3754664

I spoke to him on the phone within a few hours of that post, as I had already prototyped an app to do what was described. I didn't launch mine, nor participate in his (obviously). I suggested that a business in that space, if successful, would result in a similar outcome as happened to other founders of international money transmission systems that weren't under direct government control: i.e. swatting. He was not di…

Charlie Shrem (BitInstant) was a bit less lucky, or maybe it was "too early"?
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