Day: May 4, 2019

Kid makes cute fake passport for class, unlocks next-level confidence

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Once more for the people in the back: I am small and beautiful.

In a photo posted to Twitter on Friday, Zarina Muhammad shared her younger brother’s fake passport, the result of a class exercise — presumably intended to teach kids about international travel — and years of unbridled, tiny-human pride.  

It’s a basic, little worksheet, complete with fake paper stamps, a passport number (12345, of course), fill-in blanks for gender and age, and lastly, an area for a physical description. 

For most, that last section would prompt hair/eye color, height, and skin tone descriptors. You know, the kinds of things one would be asked about by airport security. Read more…

More about Twitter, Funny, Confidence, Kid, and Passport

Great teams, UBI, data retention policies, and Amazon HQ2

3 key secrets to building extraordinary teams

David Cancel, the CEO and founder of Drift, wrote a deep dive on how to think about finding and recruiting the kinds of people who build incredible startups. Among the factors he looks at:

Scrappiness (Importance: 35%)

The four most telling words a new hire can say: “I’ll figure it out.” If you find someone who says that (and can follow through on it), you know you’ve found someone with drive — someone who will plunge headfirst into any challenge and help move the company forward. But to clarify, the type of drive I look for in new hires is different from traditional ambition. Because traditionally ambitious people, while hard workers, tend to obsess over their own personal rise up the corporate ladder. They always have an eye on that next title change, from manager to director, director to VP, or VP to C-suite, and that influences how they perform. That’s why a decade ago, while running my previous company Performable, I added a new requirement to our job descriptions: “Scrappiness.” Today, it’s one of our leadership principles at Drift.

Scrappy people don’t rely on titles or defined sets of responsibilities. Instead, they do whatever it takes to get the job done, even when no one is looking, and even if the tasks they’re performing could be considered “beneath their title.”

Takeaways from F8 and Facebook’s next phase

We had a greatly informative conference call with our very own Josh Constine and Frederic Lardinois, who were checking in from Facebook’s F8 conference in San Jose this week. In case you weren’t able to join us, the transcript and audio have been posted for Extra Crunch members:

Coinbase loses its first CTO after just one year in the job

Coinbase, the $8 billion-valued crypto exchange, has lost its CTO after Balaji Srinivasan announced his departure from the company.

Srinivasan became the U.S. company’s first CTO one year ago after it acquired Earn.com, where he was CEO and co-founder. Given the tenure — one year and one day — it looks like Srinivasan’s departure comes after he served the minimum agreed period with Coinbase.

A high-profile figure in the crypto space who has also spent time with Coinbase and Earn investor A16z, Srinivasan announced his move on Twitter. He declined to go into specifics but told TechCrunch that he plans to take time off to get fit, among other things, before launching into his next product.

1/2 Really enjoyed my time at Coinbase working with my friend @brian_armstrong. The Earn integration was successful and we’ve closed ~$200M in deals for the new Coinbase Earn. Was also my privilege to help with shipping new assets, launching USDC, & getting staking/voting going.

— Balaji S. Srinivasan (@balajis) May 4, 2019

Coinbase CEO Brian Armstrong paid tribute to Srinivasan’s “incredible contributions” to the company.

Srinivasan’s time at Coinbase saw the company ramp up its expansion efforts. Those include the launch of its own USDC stablecoin, the expansion (and planned expansion) of assets sold to consumers and ‘pro’ traders, and a wider global push. Away from consumers, it launched a slew of services for retail investors and today its services also include staking and over-the-counter trading.

There’s also Coinbase’s own VC arm for doing deals with promising startups and, also on the M&A side, the firm has continued making acquisitions and acquihires. This year, it has snapped up Y Combinator graduate Blockspring and Neutrino, whose founders controversially once worked for surveillance firm Hacking Team, in what were its eleventh and twelfth acquisitions to date.

Talent retention appears to be becoming a bit of an issue at Coinbase.

Srinivasan’s exit comes a month after Dan Romero, the company’s head of international, left after a five-year stint. According to Coindesk, the company has seen at least a dozen senior or mid-level executives leave since October when it raised $300 million led by Tiger Global.