Back

Vishu Bheda

 • 

Medial • 2m

Coinbase founder shares the most important lesson from his startup failure before Coinbase Brian started a tutoring website in college, helping students find tutors. He charged a 10% fee on all payments. It worked well at first, but soon, people started paying tutors directly to avoid the fee. This was a big problem. He realized that students and tutors wanted the matchmaking service, but they didn’t want the platform handling payments. The business was getting in the way instead of helping. After struggling with this for years, Brian took a job at Airbnb. He planned to shut the site down but noticed 5,000-10,000 people were still using it every month. Instead of giving up, he made a simple change: He removed the payment system. He made the platform free. He allowed tutors to pay $10/month to promote their profiles. Then, he stopped working on the site. But something amazing happened—it started growing on its own! The site doubled every year until Brian finally sold it for $2 million. His biggest lesson? Stop focusing on making money first. Focus on creating real value. When you help people, they will happily pay for extra benefits. Help first, monetize later. That’s how you build a great business! Follow me for more valuable startup insights from the world's best founders!

12 replies17 likes
15
Replies (12)

More like this

Recommendations from Medial

Image Description
Image Description

Vishu Bheda

 • 

Medial • 2m

Coinbase founder shares the Y Combinator advice that helped Coinbase find product/market fit The first version of any product rarely works, and that’s exactly what happened with Coinbase. When Brian Armstrong, the founder, launched Coinbase, it wa

See More
8 replies34 likes
33
Image Description
Image Description

Vishu Bheda

 • 

Medial • 2m

Brian Armstrong tells the founding story of Coinbase: “Nothing was working” Brian Armstrong's journey to building Coinbase wasn’t easy. In 2012, he left his job and joined Y Combinator to follow his dream of creating something big. But things di

See More
6 replies25 likes
7
Image Description
Image Description

Vishu Bheda

 • 

Medial • 1m

Brian Armstrong explains how he built Coinbase on nights and weekends while working at Airbnb Most aspiring founders struggle to find time for their startups. Brian Armstrong, co-founder of Coinbase, faced the same challenge. But instead of wait

See More
5 replies29 likes
7
Image Description
Image Description

Mesride Tech

Software hamara, bus... • 10m

Dropbox (Current market cap : $8B) started as a one page site hosted on AWS. Lesson to learn : start small, dream big. Don't let your tech. complexities makes you fail your business.

7 replies8 likes
1
Image Description
Image Description

Ayush

Let's build together... • 1m

Stripe betting on crypto. Can we soon find Crypto transac option on Stripe? This brings the qs - if stripe enables crypto payments, will you stick considering sticking to Binance or Coinbase?

3 replies12 likes
1
Image Description
Image Description

Vishu Bheda

 • 

Medial • 23d

𝗛𝗼𝘄 𝗕𝗿𝗶𝗮𝗻 𝗔𝗿𝗺𝘀𝘁𝗿𝗼𝗻𝗴 𝗕𝘂𝗶𝗹𝘁 𝗖𝗼𝗶𝗻𝗯𝗮𝘀𝗲 𝗪𝗵𝗶𝗹𝗲 𝗪𝗼𝗿𝗸𝗶𝗻𝗴 𝗙𝘂𝗹𝗹-𝗧𝗶𝗺𝗲 𝗮𝘁 𝗔𝗶𝗿𝗯𝗻𝗯 Most people wait for the “perfect time” to start their dream project. Brian Armstrong didn’t. He built Coinbase while wor

See More
4 replies43 likes
28
Image Description
Image Description

Raja Niketh Reddy Nallapareddy

Crafting Digital Suc... • 6m

These are the concepts that I learned on the first day when I started.

4 replies2 likes

Kimiko

Posts about startup ... • 1m

Brian Chesky literally dropped the best advice on building a billion dollar company from crisis.

0 replies10 likes
4
Anonymous
Image Description
Image Description

The founder of KFC was a loser until he was 65, he had no money, he borrowed $87 and started making fried chicken wings. He failed 1,009 times before he was able to sell his first franchise. By the age of 88, he had become a billionaire.

10 replies32 likes
4
Anonymous
Image Description
Image Description

What is Elon upto? Will he be the first trillionaire on earth?

3 replies3 likes

Download the medial app to read full posts, comements and news.