David Marcus is the co-founder and CEO of Lightspark, building infrastructure that extends the capabilities and utility of Bitcoin. Prior to Lightspark, David led all payment and crypto efforts at Facebook/Meta and scaled Messenger to 1.5BN users. David previously founded three other companies: Zong (acquired by eBay/PayPal for $240M), Echovox (acquired by MBO), and GTN (acquired by World Access).
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Timestamps:
0:00 Intro
1:15 How David Entered the World of Startups
3:10 The Centrality of Markets
4:05 Is naivety good for entrepreneurs?
7:04 Lessons from Zong
12:27 Lessons from PayPal
16:46 Is the US empire crumbling?
21:57 Why Lightspark is Different
23:54 Why Facebook’s Crypto Failed
25:24 The State of Crypto Today
32:12 AI & Wealth Inequality
36:13 David’s Relationship to Money
37:32 Quick-Fire Round
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In Today’s Episode with David Marcus We Discuss:
1. From Losing Everything to Becoming Changing the World of Fintech:
How did seeing his family lose everything lead to David starting his first company, GTN?
Does David believe that great companies can be built in Europe?
What are the biggest mistakes David made with Zong? How did they impact his mindset?
2. The Secret to Building a Great Company from Mark Zuckerberg’s ex-Right Hand Man:
Where does David think Paypal lost its way?
How did David “brutally” change PayPayl’s company culture when he came in?
What worked and what didn’t in scaling Messenger to 1.5BN users?
Why did Diem (formerly Libra) fail? How did David know when to give up that fight?
What is David’s biggest lesson from working with Mark Zuckerberg?
3. Crypto & AI’s Ripple Effect on The Rest of The World:
What will be the fallout from the de-banking of crypto?
How does David think the future of AI will impact income equality?
If David was in charge of the SEC, what would he do first?
What worries David most about the next 1-5 years in the crypto industry?
What are the most significant signs that the tea leaves not looking great for the US dollar?
4. How The Best Leaders Hire The Best Talent:
Why does David believe that naivety is good for entrepreneurs?
Does David believe we’ll be in a worse macro position by the end of the year?
How has David changed most as a leader over time?
What is David’s biggest piece of advice in regard to hiring across many different companies?
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