Value for Value ⚡️
I think the greatest well, I know the greatest thing we've we've done at Block in this regard is Cray Spyro. The the fact that we decided to to really, like, start small, we we decided to hire 1 person who could hire 4 other people, a total team of 5, and their mission was just to work on Bitcoin and work on open source, and they took no direction from us. And it has been some of the most valuable idea generations for our company, even though we had no expectation around that. We've gotten incredible work from them that we use in our main product like Cash App, which is, based on LDK, which they they created. It's an incredible recruiting tool. People wanna work alongside them, not necessarily on the open source aspects, but they see the the mastery of their craft and how good they are as engineers and and people intersecting with the the community. So for any of you with a company, even if it's just one person or half, half time person that you're paying, and we we pay them in Bitcoin, because we didn't want to align their incentives to our stock and to our company. But the you know, what they're actually working on, which is which is Bitcoin, and as they make it more viable, hopefully, Bitcoin becomes more viable.
Episode Summary
Finale conversation at the Baltic Honey Badger Conference in Riga, Latvia. The longest running bitcoin only conference in the world.Video: https://primal.net/e/note1ysx6vqm9h4mlyq0yel3kxplm4xcuhwtwjgzwuhy3ne4thehsntwschsdzw ODELL on Nostr: https://primal.net/odellJack Dorsey on Nostr: https://primal.net/jackJack Mallers on Nostr: https://primal.net/jackmallersGrant Gilliam on Nostr: https://primal.net/grantMax Keidun on Nostr: https://primal.net/p/npub1797h37mc98f6363m5nysxd0t2swuz7nxq4z83saw77em3czld6xqvuar68 More info about Ten31: https://ten31.vcMore info about Strike: https://strike.meMore info about Block: https://block.xyzMore info about HodlHodl: https://hodlhodl.comMore info about Debifi: https://debifi.comwebsite: https://citadeldispatch.comnostr live chat: https://citadeldispatch.com/streamnostr account: https://primal.net/odellyoutube: https://www.youtube.com/@citadeldispatchstream sats to the show: https://www.fountain.fm/(00:00:00) Introduction and Panelist Welcome(00:00:38) Opening Remarks and Event Significance(00:01:31) Panelist Introductions(00:01:55) Building Bitcoin Businesses(00:02:50) Jack Mallers on Building Strike(00:07:59) Bitcoin Business Profitability and Philosophy(00:10:14) Bitcoiners' Lean Lifestyle(00:12:11) Challenges of Building Bitcoin Companies(00:13:00) Jack Dorsey Joins the Panel(00:14:02) Square's Transition to Block and Bitcoin(00:17:16) Defining a Bitcoin Company(00:18:56) Corporate vs. Open Source in Bitcoin(00:21:16) Regulatory Challenges for Bitcoin Companies(00:24:00) Future of Bitcoin in Corporations(00:28:11) Supporting Open Source Development(00:31:05) Funding and Investment in Bitcoin(00:35:29) VCs and Bitcoin Investment(00:39:01) Control and Influence in Bitcoin(00:44:56) Bitcoin's Adoption and Market Dynamics(00:49:00) Attracting and Retaining Bitcoin Developers(00:56:54) Human Connection and Company Culture(01:00:55) Intersection of Bitcoin, AI, and Nostr(01:03:01) Open Source vs. Corporate Development(01:09:05) Building Trust in Bitcoin Products(01:17:31) Closing Remarks and Thank Yous