Tech Brew Ride Home Wed. 04/07 – TLDR: Coinbase Is A Helluva Business
Apr 7, 2021
Coinbase's latest earnings report blows expectations out of the water, solidifying its dominance in the crypto sphere. Patreon showcases its growth with a eye-popping valuation, despite its current profitability struggles. Plaid secures $425 million in funding, charting a course post-Visa merger worries. In gaming, AMD's Alienware M15 R5 pushes boundaries with cutting-edge specs. Meanwhile, Facebook grapples with a massive data leak, raising serious questions about user privacy and security.
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Coinbase's Success
- Coinbase's Q1 2021 profits were between $730-800 million on $1.8 billion in revenue, exceeding their entire 2020 performance.
- Their user base of 56 million surpasses major banks and trading platforms, indicating significant growth potential.
Centralized Crypto
- Coinbase's success as a centralized marketplace contradicts the decentralized nature of cryptocurrency.
- Despite this irony, Coinbase dominates the crypto exchange space, similar to selling picks and shovels during a gold rush.
Creator Economy Growth
- Patreon's valuation tripled to $4 billion due to growing interest in the creator economy, accelerated by the pandemic.
- With over 200,000 creators and 7 million fans, Patreon's take rate of 5-12% is comparable to Substack.