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His dual roles brings up up an interesting question: If you're founder of a Bitcoin startup that's doing well and has its pick of investors, do you pitch a16z,
by thesausageking 12y ago
His dual roles brings up up an interesting question:
If you're founder of a Bitcoin startup that's doing well and has its pick of investors, do you pitch a16z, knowing that the founder of what could be your largest competitor is a partner there ?
- nostrademons 12y agoI thought that a16z doesn't invest in multiple companies that are competitors. The reason they gave for not investing in companies that were likely to pivot was the Burbn => Instagram pivot, which put one of their investments (Instagram) into competition with another (PicPlz) [1]. This makes me really wonder what's up with 21, though, because a16z has already funded a major Bitcoin startup (Coinbase [2]), and did so after Balaji claims to have founded Instagram. Does that mean that 21 has no intention to become a Bitcoin payment processor or exchange? [1] http://www.bhorowitz.com/instagram http://www.bhorowitz.com/instagram [2] http://en.wikipedia.org/wiki/Coinbase http://en.wikipedia.org/wiki/Coinbase