Ep. 102: The Next Big Idea in Crypto—with Cameron & Tyler Winklevoss of Gemini

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 coinStill big opportunity to step in How Tyler and Cameron got into BitcoinIntroduced during 2012 vacation to IbizaResearch led to form Bitcoin/Gold thesisEarly adopters = smartest people in room The migration of smart people to cryptoMore brilliant people in space nowToday people ‘fail into Wall Street’ Why Tyler and Cameron created Gemini Mt. Gox not equipped to handle success of BitcoinCouldn’t find team solving problem right wayDecided to build regulated option themselves  How Tyler and Cameron work together on GeminiCameron more tactical, Tyler focuses on strategyFair amount of overlap (similar interests) How a founder’s role evolves as a startup scalesHeavily involved in hiring early onEmpower team to make decisions as you growShift focus to getting most out of team The resources that helped Tyler and Cameron scaleLearn from books, Bezos shareholder lettersTalk to other founders + angel investors What it takes to be a good leaderServe as symphony conductorCommunicate mission, message The relationship between Tyler and CameronCompetitive but friendly and supportiveShared values, on each other’s side How Tyler and Cameron define successDo work that is fulfilling, meaningfulHigh level of happinessConnect 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/geminiTyler on Twitter https://twitter.com/tylerCameron on Twitter https://twitter.com/cameronWinklevoss Capital https://winklevosscapital.com/ Resources Bitcoin Conference https://b.tc/conferenceThe 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-76378e4fef24Erik Voorhees https://twitter.com/ErikVoorheesNo Rules Rules: Netflix and the Culture of Reinvention by Reed Hastings and Erin Meyer https://www.amazon.com/No-Rules-Netflix-Culture-Reinvention/dp/1984877860Zero 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/0804139296Jeff 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/BoostVCBoost VC on Instagram https://www.instagram.com/boost_vc/