Every company has a story. Learn the playbooks that built the world’s greatest companies — and how you can apply them as a founder, operator, or investor.
Tue, 19 Jan 2021 02:15
We had to do it. After 12 years and 3,000,000x appreciation, we kick off Season 8 with the best investment of all-time and our biggest episode ever: Bitcoin. From the first bitcoin transaction of 10k for two Papa John's pizzas (worth about $350m today!!) to $40k+ BTC and maybe the moon beyond, we cover the whole crazy, improbable journey of how a single 8-page PDF document changed the world of money — and perhaps the world itself — forever.
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The Bitcoin Playbook:
(also available on our website at https://www.acquired.fm/episodes/bitcoin )
1. Technological paradigm shifts are ideal opportunities for attacking incumbents.
2. In the early days of a network-effect system, usage matters more than use-cases.
3. Distributing network value out to its participants creates large incentives for adoption.
4. Just HODL, baby. (aka let your winners run)
5. We're only just realizing the implications of digital scarcity.