Bridge co-founder Zach Abrams explains why he built Bridge, noting the lack of developer-friendly stablecoin infrastructure in late 2022.
Insight
Building outside tech hubs shields early founders from peer status games
“As you're starting a company, especially in the early phases, there is an immense desire to benchmark yourself versus everyone else. And there's always going to be someone who's growing faster. He's in a hotter space. Who's like more popular than you are or wh…”
Insight
Products sold exclusively to crypto companies are unlikely to succeed
“One of our realizations was that any crypto product that is, like, sold Two crypto companies is unlikely to be successful. That was, like, my biggest takeaway is, like, they definitely have problems, and there are things that you could build to solve problems …”
Insight
Founders building crypto in SF in 2023 were true believers
“If you show me a person who's building something in crypto, living in San Francisco, and was working on it in twenty-twenty-three, I will guarantee you that they are, like, a true believer and probably excellent.”
Assertion Not checkable as stated
The post-FTX crypto fallout wiped out Bridge’s competitors for a year
“What happened was like over the course of a year, there were like, you know, a whole bunch of failures in the space and their company was impacted by it, indirectly impacted by FTX and so on. And that essentially just, like, nuked the competitive landscape for…”
Assertion Supported
Bridge launched the exact week SVB collapsed and USDC depegged
“The one thing that was, like, truly existential, Was when SVB went under, and USDC depegged, because, and that was the week that we launched.”
Assertion Not checkable as stated
Bridge grew 20% to 50% month-over-month leading up to its acquisition
“I mean, we were probably pretty consistently growing somewhere between
20 and 50% a month.”