Cameron and Tyler Winklevoss have been on the forefront of two internet revolutions, social networking and cryptocurrency. So, what do they think is the next big thing?
Cameron and Tyler are the Cofounders of Gemini, a next-generation cryptocurrency exchange and custodian that allows users to buy, sell and store digital assets. The brothers are famous for creating the precursor to Facebook (as portrayed in The Social Network) and owning 1% of the global Bitcoin. Cameron and Tyler are also the Cofounders of Winklevoss Capital Management, a firm that invests across multiple asset classes and provides seed funding to startups.
On this episode of Boost VC, Cameron and Tyler join us to explain why Bitcoin is still the next big thing, discussing what inspired them to build Gemini and why the best minds in finance are migrating to crypto. They describe how a founder’s role evolves as a startup scales, sharing what it takes to be a good leader as your team grows and offering insight into their working relationship as brothers and cofounders. Listen in for Cameron and Tyler’s advice on building a business and find out what resources they used to adapt as Gemini grew from a team of five to 50 to 350.
Topics Covered
Why Bitcoin is still the next big thing
- Could easily hit $500K per coin
- Still big opportunity to step in
How Tyler and Cameron got into Bitcoin
- Introduced during 2012 vacation to Ibiza
- Research led to form Bitcoin/Gold thesis
- Early adopters = smartest people in room
The migration of smart people to crypto
- More brilliant people in space now
- Today people ‘fail into Wall Street’
Why Tyler and Cameron created Gemini
- Mt. Gox not equipped to handle success of Bitcoin
- Couldn’t find team solving problem right way
- Decided to build regulated option themselves
How Tyler and Cameron work together on Gemini
- Cameron more tactical, Tyler focuses on strategy
- Fair amount of overlap (similar interests)
How a founder’s role evolves as a startup scales
- Heavily involved in hiring early on
- Empower team to make decisions as you grow
- Shift focus to getting most out of team
The resources that helped Tyler and Cameron scale
- Learn from books, Bezos shareholder letters
- Talk to other founders + angel investors
What it takes to be a good leader
- Serve as symphony conductor
- Communicate mission, message
The relationship between Tyler and Cameron
- Competitive but friendly and supportive
- Shared values, on each other’s side
How Tyler and Cameron define success
- Do work that is fulfilling, meaningful
- High level of happiness
Connect with Tyler & Cameron
Gemini https://gemini.com/
Gemini on Facebook https://www.facebook.com/GeminiTrust/
Gemini on Instagram https://www.instagram.com/gemini/
Gemini on Twitter https://twitter.com/gemini
Tyler on Twitter https://twitter.com/tyler
Cameron on Twitter https://twitter.com/cameron
Winklevoss Capital https://winklevosscapital.com/
Resources
Bitcoin Conference https://b.tc/conference
The Case for $500K Bitcoin https://winklevosscapital.com/the-case-for-500k-bitcoin/
The Social Network https://www.imdb.com/title/tt1285016/
Tyler & Cameron’s Bitcoin is Better Than Gold Thesis https://www.ft.com/content/a9d4b73a-abdd-11e6-ba7d-76378e4fef24
Erik Voorhees https://twitter.com/ErikVoorhees
No Rules Rules: Netflix and the Culture of Reinvention by Reed Hastings and Erin Meyer https://www.amazon.com/No-Rules-Netflix-Culture-Reinvention/dp/1984877860
Zero to One: Notes on Startups, or How to Build the Future by Peter Thiel and Blake Masters https://www.amazon.com/Zero-One-Notes-Startups-Future/dp/0804139296
Jeff Bezos’ Shareholder Letters https://www.cbinsights.com/research/bezos-amazon-shareholder-letters/
Eric Schmidt, Larry Page & Sergey Brin at Google https://www.wired.com/story/at-google-eric-schmidt-wrote-the-book-on-adult-supervision/
Counter-Strike https://store.steampowered.com/app/730/CounterStrike_Global_Offensive/
Age of Empires https://www.ageofempires.com/
Settlers of CATAN https://www.catan.com/
Connect with Boost VC
Boost VC Website https://www.boost.vc/
Boost VC on Facebook https://www.facebook.com/boostvc/
Boost VC on Twitter https://twitter.com/BoostVC
Boost VC on Instagram