Coinbase emerged in a time when buying Bitcoin was complicated and fraught with risks, making it difficult for potential users to engage with cryptocurrency.

Brian Armstrong, the founder of Coinbase, faced skepticism from investors who viewed Bitcoin as a bubble and associated it with fraud, complicating his efforts to secure funding. Even in his Y Combinator application, he didn't fully believe in his own idea for Coinbase, which initially focused on peer-to-peer transfers rather than buying and holding Bitcoin.

Many founders and investors initially dismissed the ideas behind Airbnb, Coinbase, and Stripe as poor or overly ambitious, underestimating their potential.

Coinbase's original product was extremely simple: a website where users could buy Bitcoin with just a few clicks, solving a significant problem at the time.

Despite not being the first mover, Coinbase was able to create a significantly better product in a market where existing options were inadequate.

We raised our Series A on a prototype, which was challenging because many investors doubted our potential to become a public company.

During demo day at Y Combinator, we showcased our product and met with investors, which was a pivotal moment for us.

The first demo day for DoorDash was not successful, and we struggled to raise funds, putting the company at risk of going out of business.

Founders often face challenges in fundraising despite having paying customers, as investors may not understand the product's value.