Episode
#307 – Brian Armstrong: Coinbase, Cryptocurrency, and Government Regulation
2:36:02
Published: Fri Jul 29 2022
Description
Brian Armstrong is the CEO of Coinbase. Please support this podcast by checking out our sponsors: - Audible: https://audible.com/lex - Skiff: https://skiff.org/lex - BiOptimizers: http://www.magbreakthrough.com/lex to get 10% off - Fundrise: https://fundrise.com/lex - Athletic Greens: https://athleticgreens.com/lex and use code LEX to get 1 month of fish oil EPISODE LINKS: Brian's Twitter: https://twitter.com/brian_armstrong Brian's Instagram: https://www.instagram.com/brian_armstrong Coinbase's Website: https://www.coinbase.com ResearchHub: https://www.researchhub.com NewLimit: https://www.newlimit.com/ PODCAST INFO: Podcast website: https://lexfridman.com/podcast Apple Podcasts: https://apple.co/2lwqZIr Spotify: https://spoti.fi/2nEwCF8 RSS: https://lexfridman.com/feed/podcast/ YouTube Full Episodes: https://youtube.com/lexfridman YouTube Clips: https://youtube.com/lexclips SUPPORT & CONNECT: - Check out the sponsors above, it's the best way to support this podcast - Support on Patreon: https://www.patreon.com/lexfridman - Twitter: https://twitter.com/lexfridman - Instagram: https://www.instagram.com/lexfridman - LinkedIn: https://www.linkedin.com/in/lexfridman - Facebook: https://www.facebook.com/lexfridman - Medium: https://medium.com/@lexfridman OUTLINE: Here's the timestamps for the episode. On some podcast players you should be able to click the timestamp to jump to that time. (00:00) - Introduction (08:19) - Programming (14:17) - Coinbase (45:05) - Startup advice (1:02:56) - Economic freedom (1:12:06) - Coinbase technology (1:23:33) - Listing on Coinbase (1:32:47) - Regulations (1:47:25) - Crypto dominance (1:51:42) - Employee activism (2:08:00) - Leadership (2:10:39) - ResearchHub (2:20:17) - NewLimit (2:24:44) - Advice for young people (2:28:55) - Meaning of life
Chapters
In this podcast, Tim Ferriss chats with Brian Armstrong about cryptocurrency and Coinbase, the largest cryptocurrency exchange platform, and their efforts to work with regulators and governments to transform the way we think about and use money.
00:00 - 01:47 (01:47)
Summary
In this podcast, Tim Ferriss chats with Brian Armstrong about cryptocurrency and Coinbase, the largest cryptocurrency exchange platform, and their efforts to work with regulators and governments to transform the way we think about and use money. The conversation touches on the philosophical aspects of decentralization and the potential risks and benefits of cryptocurrency regulation.
Episode#307 – Brian Armstrong: Coinbase, Cryptocurrency, and Government Regulation
PodcastLex Fridman Podcast
The easy-to-use interface and end-to-end encryption make private real estate investment platform impressive in this age of cryptocurrency.
01:47 - 08:25 (06:38)
Summary
The easy-to-use interface and end-to-end encryption make private real estate investment platform impressive in this age of cryptocurrency. The speaker highly recommends magnesium to ensure a good fasting experience and for overall physical and mental well-being.
Episode#307 – Brian Armstrong: Coinbase, Cryptocurrency, and Government Regulation
PodcastLex Fridman Podcast
The guest speaker shares how less popular programming languages like Lisp and Scheme can still be used in rapid prototyping and computer science programs despite being undervalued due to their association with poorly written code in languages like PHP.
08:25 - 13:01 (04:35)
Summary
The guest speaker shares how less popular programming languages like Lisp and Scheme can still be used in rapid prototyping and computer science programs despite being undervalued due to their association with poorly written code in languages like PHP. He also praises Lisp for being the primary language in the earlier history of artificial intelligence and having a place in the arts during the nineties.
Episode#307 – Brian Armstrong: Coinbase, Cryptocurrency, and Government Regulation
PodcastLex Fridman Podcast
The CEO of a popular cryptocurrency exchange explains how they simplify the process of buying and selling cryptocurrency by keeping an order book of prices, and how their platform serves as a primary financial account for many individuals involved in the crypto economy.
13:01 - 18:22 (05:21)
Summary
The CEO of a popular cryptocurrency exchange explains how they simplify the process of buying and selling cryptocurrency by keeping an order book of prices, and how their platform serves as a primary financial account for many individuals involved in the crypto economy.
Episode#307 – Brian Armstrong: Coinbase, Cryptocurrency, and Government Regulation
PodcastLex Fridman Podcast
Traders are getting into high frequency trades, arbitrage, and other interesting topics.
18:22 - 22:26 (04:03)
Summary
Traders are getting into high frequency trades, arbitrage, and other interesting topics. Cybersecurity in trading is being explored in interesting and creative ways to earn an edge, and a labeled data set of fraudulent actors is being built to counteract them.
Episode#307 – Brian Armstrong: Coinbase, Cryptocurrency, and Government Regulation
PodcastLex Fridman Podcast
The hosts discuss the importance of being careful when using VPNs to ensure that legitimate uses are not disrupted.
22:26 - 25:58 (03:32)
Summary
The hosts discuss the importance of being careful when using VPNs to ensure that legitimate uses are not disrupted. They mention a proof of concept site that shows all the data being sent over with requests and the potential risk of exposing personal data.
Episode#307 – Brian Armstrong: Coinbase, Cryptocurrency, and Government Regulation
PodcastLex Fridman Podcast
The speaker shares his experience of starting a Bitcoin wallet company, including applying to Y Combinator and attending Bitcoin meetups in the Bay Area.
25:58 - 29:41 (03:42)
Summary
The speaker shares his experience of starting a Bitcoin wallet company, including applying to Y Combinator and attending Bitcoin meetups in the Bay Area.
Episode#307 – Brian Armstrong: Coinbase, Cryptocurrency, and Government Regulation
PodcastLex Fridman Podcast
The journey of building a startup is filled with setbacks and obstacles that can lead to stress and sleep deprivation, but staying focused and determined can result in success.
29:41 - 34:34 (04:52)
Summary
The journey of building a startup is filled with setbacks and obstacles that can lead to stress and sleep deprivation, but staying focused and determined can result in success.
Episode#307 – Brian Armstrong: Coinbase, Cryptocurrency, and Government Regulation
PodcastLex Fridman Podcast
Being surrounded by people who only agree with you can lead to isolation and potentially poor decision making even if you're in a position of power or influence.
34:34 - 37:51 (03:17)
Summary
Being surrounded by people who only agree with you can lead to isolation and potentially poor decision making even if you're in a position of power or influence.
Episode#307 – Brian Armstrong: Coinbase, Cryptocurrency, and Government Regulation
PodcastLex Fridman Podcast
The CEO of Coinbase, Brian Armstrong, discusses the challenges of running a public company, including navigating regulations and avoiding offending team members, and the importance of showcasing the engineering behind tech products.
37:51 - 43:23 (05:31)
Summary
The CEO of Coinbase, Brian Armstrong, discusses the challenges of running a public company, including navigating regulations and avoiding offending team members, and the importance of showcasing the engineering behind tech products.
Episode#307 – Brian Armstrong: Coinbase, Cryptocurrency, and Government Regulation
PodcastLex Fridman Podcast
The fear of the unknown and the potential of failure can hold people back, but successful entrepreneurs tend to have a tolerance for risk that serves them in the long run.
43:23 - 48:01 (04:38)
Summary
The fear of the unknown and the potential of failure can hold people back, but successful entrepreneurs tend to have a tolerance for risk that serves them in the long run.
Episode#307 – Brian Armstrong: Coinbase, Cryptocurrency, and Government Regulation
PodcastLex Fridman Podcast
The speaker shares his tips for conducting successful job interviews, including avoiding rushing and showing respect to candidates.
48:01 - 52:32 (04:31)
Summary
The speaker shares his tips for conducting successful job interviews, including avoiding rushing and showing respect to candidates.
Episode#307 – Brian Armstrong: Coinbase, Cryptocurrency, and Government Regulation
PodcastLex Fridman Podcast
The effectiveness of job interviews may be limited as they do not always provide the most reliable indicator of how a candidate will perform under pressure in the workplace.
52:32 - 1:00:51 (08:19)
Summary
The effectiveness of job interviews may be limited as they do not always provide the most reliable indicator of how a candidate will perform under pressure in the workplace. However, some companies are now creating exams as part of their recruitment process to evaluate potential candidates' skill set.
Episode#307 – Brian Armstrong: Coinbase, Cryptocurrency, and Government Regulation
PodcastLex Fridman Podcast
The speaker describes their plan to travel to South America to promote economic freedom principles and crypto adoption, citing the pessimism that can exist in countries lacking economic freedom and the benefits of global payment acceptance and stable currencies provided by Bitcoin and stable coins.
1:00:51 - 1:07:51 (06:59)
Summary
The speaker describes their plan to travel to South America to promote economic freedom principles and crypto adoption, citing the pessimism that can exist in countries lacking economic freedom and the benefits of global payment acceptance and stable currencies provided by Bitcoin and stable coins.
Episode#307 – Brian Armstrong: Coinbase, Cryptocurrency, and Government Regulation
PodcastLex Fridman Podcast
Smart contracts that are decentralized can enable anybody to have access to a global borrowing and lending marketplace or a global exchange without having to go to all 200 countries in the world.
1:07:51 - 1:13:08 (05:17)
Summary
Smart contracts that are decentralized can enable anybody to have access to a global borrowing and lending marketplace or a global exchange without having to go to all 200 countries in the world. This can provide opportunities for people who only hold their assets in cash, which tends to be poor people, to increase their wealth.
Episode#307 – Brian Armstrong: Coinbase, Cryptocurrency, and Government Regulation
PodcastLex Fridman Podcast
Coinbase wallet integrates multi-signature cryptography, allowing users to hold their own cryptocurrency in a more secure and decentralized way.
1:13:08 - 1:18:03 (04:55)
Summary
Coinbase wallet integrates multi-signature cryptography, allowing users to hold their own cryptocurrency in a more secure and decentralized way. The company still profits from transactions made on its platform, even with the added security measures.
Episode#307 – Brian Armstrong: Coinbase, Cryptocurrency, and Government Regulation
PodcastLex Fridman Podcast
The speaker discusses the importance of layer one blockchain technologies such as Bitcoin and Ethereum rather than centralized services such as Coinbase.
1:18:03 - 1:29:23 (11:19)
Summary
The speaker discusses the importance of layer one blockchain technologies such as Bitcoin and Ethereum rather than centralized services such as Coinbase. They emphasize the importance of not being seen as judge and jury and explore the compliance factors that are considered when evaluating a product or service.
Episode#307 – Brian Armstrong: Coinbase, Cryptocurrency, and Government Regulation
PodcastLex Fridman Podcast
Despite the need for safe, regulated and compliant practices, privacy coins should be allowed in the industry as they are beneficial for the world.
1:29:23 - 1:36:18 (06:55)
Summary
Despite the need for safe, regulated and compliant practices, privacy coins should be allowed in the industry as they are beneficial for the world. More privacy coins would enable innovation and prevent fraudulence within the industry.
Episode#307 – Brian Armstrong: Coinbase, Cryptocurrency, and Government Regulation
PodcastLex Fridman Podcast
The speaker discusses the use of NFTs or "proof of attendance" for access to specific locations and the potential for sandboxes to provide startups with an opportunity to innovate without excessive legal fees.
1:36:18 - 1:42:32 (06:14)
Summary
The speaker discusses the use of NFTs or "proof of attendance" for access to specific locations and the potential for sandboxes to provide startups with an opportunity to innovate without excessive legal fees.
Episode#307 – Brian Armstrong: Coinbase, Cryptocurrency, and Government Regulation
PodcastLex Fridman Podcast
Crypto is creating a new decentralized financial system, and like the internet, there will be big winners but thousands of startups, vastly improving the financial freedom of people in the West, while big banks and governments seem to overlook it.
1:42:32 - 1:51:37 (09:05)
Summary
Crypto is creating a new decentralized financial system, and like the internet, there will be big winners but thousands of startups, vastly improving the financial freedom of people in the West, while big banks and governments seem to overlook it. Estimates suggest that around 200 million people worldwide have used or tried crypto.
Episode#307 – Brian Armstrong: Coinbase, Cryptocurrency, and Government Regulation
PodcastLex Fridman Podcast
The tendency of some employees in certain cities in the US wanting tech companies to act like the government in solving societal issues causes distractions from the company’s mission, according to a blog post.
1:51:37 - 2:00:01 (08:23)
Summary
The tendency of some employees in certain cities in the US wanting tech companies to act like the government in solving societal issues causes distractions from the company’s mission, according to a blog post. This leads to fake virtue signaling and only trying to understand what would make the company look good.
Episode#307 – Brian Armstrong: Coinbase, Cryptocurrency, and Government Regulation
PodcastLex Fridman Podcast
Anonymous individual speaks candidly about the downsides of being the CEO and the negative impact it has on the company.
2:00:01 - 2:03:50 (03:49)
Summary
Anonymous individual speaks candidly about the downsides of being the CEO and the negative impact it has on the company. The individual received an outpouring of support, as they shed light on the realities of the job.
Episode#307 – Brian Armstrong: Coinbase, Cryptocurrency, and Government Regulation
PodcastLex Fridman Podcast
In a world where billions of devices are connected to the internet, freedom takes different forms.
2:03:50 - 2:08:00 (04:10)
Summary
In a world where billions of devices are connected to the internet, freedom takes different forms. However, there are promising signs that the majority want some form of freedom, like the freedom to express their voice and act without undue restrictions.
Episode#307 – Brian Armstrong: Coinbase, Cryptocurrency, and Government Regulation
PodcastLex Fridman Podcast
The speaker explains their perception of good leaders and how they avoided making impulsive decisions to prevent negative consequences during stressful events at Coinbase.
2:08:00 - 2:13:20 (05:19)
Summary
The speaker explains their perception of good leaders and how they avoided making impulsive decisions to prevent negative consequences during stressful events at Coinbase.
Episode#307 – Brian Armstrong: Coinbase, Cryptocurrency, and Government Regulation
PodcastLex Fridman Podcast
The culture of celebrating paywall journals in academia should change to focus on funding researchers and creating a top paper prize.
2:13:20 - 2:21:54 (08:34)
Summary
The culture of celebrating paywall journals in academia should change to focus on funding researchers and creating a top paper prize. Collaboration between scientific researchers and companies can lead to groundbreaking innovations, and researchers should be rewarded for their discoveries without going through a tech transfer office.
Episode#307 – Brian Armstrong: Coinbase, Cryptocurrency, and Government Regulation
PodcastLex Fridman Podcast
The podcast discusses how we are currently in a golden age of software, and how technology is a driving force in bringing about change in the world.
2:21:54 - 2:29:29 (07:35)
Summary
The podcast discusses how we are currently in a golden age of software, and how technology is a driving force in bringing about change in the world. The speaker also talks about the importance of addressing difficult tech problems faced by society, such as cybersecurity and transportation, through technology solutions.
Episode#307 – Brian Armstrong: Coinbase, Cryptocurrency, and Government Regulation
PodcastLex Fridman Podcast
The speaker talks about the idea of making investments to help radically extend human health span and how writing down goals can help achieve them.
2:29:31 - 2:34:34 (05:03)
Summary
The speaker talks about the idea of making investments to help radically extend human health span and how writing down goals can help achieve them.
Episode#307 – Brian Armstrong: Coinbase, Cryptocurrency, and Government Regulation
PodcastLex Fridman Podcast
The speaker believes that writing down daily goals is a rational way to stay focused on larger life goals, without necessarily subscribing to spiritual interpretations of the practice.
2:34:34 - 2:36:21 (01:46)
Summary
The speaker believes that writing down daily goals is a rational way to stay focused on larger life goals, without necessarily subscribing to spiritual interpretations of the practice.