Sep 14, 2017 · 19m · top-founders

782: Crypto: With $50k MRR, He's Buildling Crypto Database To Track Accuracy

Bruce Pon · 8m spoken Nathan Latka · 8m spoken
0:00 / 0:00

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In this episode of The Top, host Nathan Latka interviews BigchainDB founder and CEO Bruce Pon, examining how the company provides a scalable, decentralized database layer for enterprise data provenance while scaling past $50,000 in monthly recurring revenue.

How this conversation actually went

Every chapter scored 0–10 on four independent dynamics. Hover any point for the reasoning behind the score. Nathan holds 47.7% of the talking time here. How this is scored →

Nathan as informed peer 3.1 Guest teaching 3.1 Guest disagreement 0.9 Nathan pushing back 2.4
05100:0010:001:02–4:03 · Nathan as informed peer 3/10 Promotional Announcement: GetLatka Database Platform Nathan introduces Bruce and references prominent crypto figures before asking how BigchainDB fits into the ecosystem. Bruce provides an educational overview explaining that while Bitcoin manages payments and Ethereum manages business logic, BigchainDB handles data-driven blockchain use cases.4:03–6:32 · Nathan as informed peer 3/10 Lessons from Ascribe.io and the Vehicle Analogy Bruce explains the origins of Ascribe and why existing blockchains failed to store creative metadata, using an analogy of using a Lamborghini to move a house. Nathan probes for specifics on why Ethereum was insufficient and gathers team and funding details.6:32–8:42 · Nathan as informed peer 5/10 Business Model, Pricing Architecture, and Support Tiers Nathan presses Bruce on the pricing structure and typical monthly fee per customer. Bruce outlines their open source and premium enterprise support model, explaining why usage-based per-transaction pricing felt extractive.8:43–12:28 · Nathan as informed peer 4/10 Eliminating Enterprise Back-Office Reconciliation Waste Bruce explains how single source of truth blockchains eliminate back-office reconciliation in supply chains. Nathan pushes back with skepticism, asking how physical labels prevent companies from marketing false claims, which Bruce addresses with cryptographic auditing.12:28–14:48 · Nathan as informed peer 4/10 Key Growth Metrics and Developer Ecosystem Funnel Nathan breaks down Bruce's MRR figures against his customer count and asks for clarification on developer ecosystem metrics such as software clones and white paper downloads.14:49–18:20 · Nathan as informed peer 3/10 Sponsor Segment: Acquisition of The Top Inbox During the Famous Five segment, Nathan pushes Bruce to name specific titles and reject generic answers like Elon Musk in favor of crypto leaders, while also sharing a Charlie Munger anecdote.18:20–19:09 · Nathan as informed peer 0/10 Episode Summary and Previous Guest Teaser Solo host outro summarizing BigchainDB's core metrics, funding, and team size, followed by a teaser for the next episode.1:02–4:03 · Guest teaching 5/10 Promotional Announcement: GetLatka Database Platform Nathan introduces Bruce and references prominent crypto figures before asking how BigchainDB fits into the ecosystem. Bruce provides an educational overview explaining that while Bitcoin manages payments and Ethereum manages business logic, BigchainDB handles data-driven blockchain use cases.4:03–6:32 · Guest teaching 5/10 Lessons from Ascribe.io and the Vehicle Analogy Bruce explains the origins of Ascribe and why existing blockchains failed to store creative metadata, using an analogy of using a Lamborghini to move a house. Nathan probes for specifics on why Ethereum was insufficient and gathers team and funding details.6:32–8:42 · Guest teaching 3/10 Business Model, Pricing Architecture, and Support Tiers Nathan presses Bruce on the pricing structure and typical monthly fee per customer. Bruce outlines their open source and premium enterprise support model, explaining why usage-based per-transaction pricing felt extractive.8:43–12:28 · Guest teaching 4/10 Eliminating Enterprise Back-Office Reconciliation Waste Bruce explains how single source of truth blockchains eliminate back-office reconciliation in supply chains. Nathan pushes back with skepticism, asking how physical labels prevent companies from marketing false claims, which Bruce addresses with cryptographic auditing.12:28–14:48 · Guest teaching 4/10 Key Growth Metrics and Developer Ecosystem Funnel Nathan breaks down Bruce's MRR figures against his customer count and asks for clarification on developer ecosystem metrics such as software clones and white paper downloads.14:49–18:20 · Guest teaching 1/10 Sponsor Segment: Acquisition of The Top Inbox During the Famous Five segment, Nathan pushes Bruce to name specific titles and reject generic answers like Elon Musk in favor of crypto leaders, while also sharing a Charlie Munger anecdote.18:20–19:09 · Guest teaching 0/10 Episode Summary and Previous Guest Teaser Solo host outro summarizing BigchainDB's core metrics, funding, and team size, followed by a teaser for the next episode.1:02–4:03 · Guest disagreement 1/10 Promotional Announcement: GetLatka Database Platform Nathan introduces Bruce and references prominent crypto figures before asking how BigchainDB fits into the ecosystem. Bruce provides an educational overview explaining that while Bitcoin manages payments and Ethereum manages business logic, BigchainDB handles data-driven blockchain use cases.4:03–6:32 · Guest disagreement 1/10 Lessons from Ascribe.io and the Vehicle Analogy Bruce explains the origins of Ascribe and why existing blockchains failed to store creative metadata, using an analogy of using a Lamborghini to move a house. Nathan probes for specifics on why Ethereum was insufficient and gathers team and funding details.6:32–8:42 · Guest disagreement 1/10 Business Model, Pricing Architecture, and Support Tiers Nathan presses Bruce on the pricing structure and typical monthly fee per customer. Bruce outlines their open source and premium enterprise support model, explaining why usage-based per-transaction pricing felt extractive.8:43–12:28 · Guest disagreement 2/10 Eliminating Enterprise Back-Office Reconciliation Waste Bruce explains how single source of truth blockchains eliminate back-office reconciliation in supply chains. Nathan pushes back with skepticism, asking how physical labels prevent companies from marketing false claims, which Bruce addresses with cryptographic auditing.12:28–14:48 · Guest disagreement 0/10 Key Growth Metrics and Developer Ecosystem Funnel Nathan breaks down Bruce's MRR figures against his customer count and asks for clarification on developer ecosystem metrics such as software clones and white paper downloads.14:49–18:20 · Guest disagreement 1/10 Sponsor Segment: Acquisition of The Top Inbox During the Famous Five segment, Nathan pushes Bruce to name specific titles and reject generic answers like Elon Musk in favor of crypto leaders, while also sharing a Charlie Munger anecdote.18:20–19:09 · Guest disagreement 0/10 Episode Summary and Previous Guest Teaser Solo host outro summarizing BigchainDB's core metrics, funding, and team size, followed by a teaser for the next episode.1:02–4:03 · Nathan pushing back 1/10 Promotional Announcement: GetLatka Database Platform Nathan introduces Bruce and references prominent crypto figures before asking how BigchainDB fits into the ecosystem. Bruce provides an educational overview explaining that while Bitcoin manages payments and Ethereum manages business logic, BigchainDB handles data-driven blockchain use cases.4:03–6:32 · Nathan pushing back 2/10 Lessons from Ascribe.io and the Vehicle Analogy Bruce explains the origins of Ascribe and why existing blockchains failed to store creative metadata, using an analogy of using a Lamborghini to move a house. Nathan probes for specifics on why Ethereum was insufficient and gathers team and funding details.6:32–8:42 · Nathan pushing back 4/10 Business Model, Pricing Architecture, and Support Tiers Nathan presses Bruce on the pricing structure and typical monthly fee per customer. Bruce outlines their open source and premium enterprise support model, explaining why usage-based per-transaction pricing felt extractive.8:43–12:28 · Nathan pushing back 4/10 Eliminating Enterprise Back-Office Reconciliation Waste Bruce explains how single source of truth blockchains eliminate back-office reconciliation in supply chains. Nathan pushes back with skepticism, asking how physical labels prevent companies from marketing false claims, which Bruce addresses with cryptographic auditing.12:28–14:48 · Nathan pushing back 3/10 Key Growth Metrics and Developer Ecosystem Funnel Nathan breaks down Bruce's MRR figures against his customer count and asks for clarification on developer ecosystem metrics such as software clones and white paper downloads.14:49–18:20 · Nathan pushing back 3/10 Sponsor Segment: Acquisition of The Top Inbox During the Famous Five segment, Nathan pushes Bruce to name specific titles and reject generic answers like Elon Musk in favor of crypto leaders, while also sharing a Charlie Munger anecdote.18:20–19:09 · Nathan pushing back 0/10 Episode Summary and Previous Guest Teaser Solo host outro summarizing BigchainDB's core metrics, funding, and team size, followed by a teaser for the next episode.

speaking balance: gold is Nathan, purple is the guest (3 minute bins)

0:00 · Nathan 83.7% · guest 16.3%0:00 · Nathan 83.7% · guest 16.3%3:00 · Nathan 5.4% · guest 94.6%3:00 · Nathan 5.4% · guest 94.6%6:00 · Nathan 34.1% · guest 65.9%6:00 · Nathan 34.1% · guest 65.9%9:00 · Nathan 29.8% · guest 70.2%9:00 · Nathan 29.8% · guest 70.2%12:00 · Nathan 45% · guest 55%12:00 · Nathan 45% · guest 55%15:00 · Nathan 71.6% · guest 28.4%15:00 · Nathan 71.6% · guest 28.4%18:00 · Nathan 94.1% · guest 5.9%18:00 · Nathan 94.1% · guest 5.9%
Sharpest disagreement ▶ 11:17 Defending blockchain provenance against marketing fraud claims

When Nathan asks whether apparel supply chain claims are just marketing nonsense, Bruce directly defends the integrity of cryptographic signing and auditing across multiple supply chain steps.

Hardest push from Nathan ▶ 8:17 Pressing for specific customer pricing tiers

Nathan refuses vague answers about enterprise support tiers and directly pushes Bruce to specify exact monthly pricing figures.

Biggest teaching moment ▶ 5:08 Explaining blockchain limitations via vehicle analogy

Bruce educates Nathan on why neither Bitcoin nor Ethereum can support heavy metadata storage, framing them as sports cars unfit for freight transport.

Nathan holds their own ▶ 13:06 Reconciling MRR figures with client headcounts

Nathan demonstrates financial fluency by calculating average customer spend and reconciling Bruce's $50-60k MRR claims against his active client count.

the scores for every segment, with the reasoning behind each
ChapterTopicNathan as informed peerGuest teachingGuest disagreementNathan pushing backWhy
Promotional Announcement: GetLatka Database Platform 3511 Nathan introduces Bruce and references prominent crypto figures before asking how BigchainDB fits into the ecosystem. Bruce provides an educational overview explaining that while Bitcoin manages payments and Ethereum manages business logic, BigchainDB handles data-driven blockchain use cases.
Lessons from Ascribe.io and the Vehicle Analogy 3512 Bruce explains the origins of Ascribe and why existing blockchains failed to store creative metadata, using an analogy of using a Lamborghini to move a house. Nathan probes for specifics on why Ethereum was insufficient and gathers team and funding details.
Business Model, Pricing Architecture, and Support Tiers 5314 Nathan presses Bruce on the pricing structure and typical monthly fee per customer. Bruce outlines their open source and premium enterprise support model, explaining why usage-based per-transaction pricing felt extractive.
Eliminating Enterprise Back-Office Reconciliation Waste 4424 Bruce explains how single source of truth blockchains eliminate back-office reconciliation in supply chains. Nathan pushes back with skepticism, asking how physical labels prevent companies from marketing false claims, which Bruce addresses with cryptographic auditing.
Key Growth Metrics and Developer Ecosystem Funnel 4403 Nathan breaks down Bruce's MRR figures against his customer count and asks for clarification on developer ecosystem metrics such as software clones and white paper downloads.
Sponsor Segment: Acquisition of The Top Inbox 3113 During the Famous Five segment, Nathan pushes Bruce to name specific titles and reject generic answers like Elon Musk in favor of crypto leaders, while also sharing a Charlie Munger anecdote.
Episode Summary and Previous Guest Teaser 0000 Solo host outro summarizing BigchainDB's core metrics, funding, and team size, followed by a teaser for the next episode.

Statements from this episode (10)

Insight
Pon: Early Blockchains Overlooked Data Storage in Favor of Payments and Logic
“If you look at something like Bitcoin, it's payments, cryptocurrency in a global network. If you look at Ethereum, it's like business logic in a global network, and it's kicked off all these ICOs and stuff like that. You know, you have business logic in a bloc…”
Bruce Pon Sep 14, 2017 ▶ 2:53
Assertion Not checkable as stated
Pon: Bitcoin Blockchain Could Not Scale For Data Storage in 2014
“When you deal with data, one of the problems that we encountered by doing a use case on top of the Bitcoin blockchain about three years ago was that it didn't scale. We weren't able to store the types of data that we wanted to. We weren't able to query it and …”
Bruce Pon Sep 14, 2017 ▶ 3:41
Disclosure
BigchainDB Raised Up To $7 Million By September 2017
“We've raised around six million US dollars, six, seven million.”
Bruce Pon Sep 14, 2017 ▶ 6:25
Insight
Pon: Per-Transaction Crypto Pricing Models Are Unhealthy Rent Extraction
“We looked at per transaction, but that starts extracting kind of rent in a non-healthy way. So yes, we grow with the network and it's easier for small companies to join up. But if you're talking like millions and millions, yeah, millions and billions of transa…”
Bruce Pon Sep 14, 2017 ▶ 7:27
Disclosure
Pon: BigchainDB charges enterprise customers five to six figures
“About five to six figures.”
Bruce Pon Sep 14, 2017 ▶ 8:26
Assertion Not checkable as stated
Pon: Back-Office Reconciliation Consumes One-Third of Corporate Workforces
“So if you look at any single organization, whether it's a bank, a supply chain company, energy or automotive, one third of the work is on back office reconciliation, figuring out what happened. After the fact. One third of all people.”
Bruce Pon Sep 14, 2017 ▶ 8:51
Opinion
Pon: Shared Blockchain Ledgers Make Back-Office Reconciliation Obsolete
“BigchainDB unlocks this potential where across multiple organizations you can have a single source of truth. In other words, You don't need reconciliation anymore because the truth and the provenance of the data is perfect.”
Bruce Pon Sep 14, 2017 ▶ 9:04
Prediction Not checkable as stated
BigchainDB Targets $100K in Monthly Recurring Revenue by End of 2017
“We're targeting for a 100,000 monthly recurring revenue by the end of the year, that type of stuff, right?”
Bruce Pon Sep 14, 2017 ▶ 12:54
Assertion Not checkable as stated
BigchainDB Generated Up To $60,000 Monthly Recurring Revenue in 2017
“We're in the 50 to 60 range.”
Bruce Pon Sep 14, 2017 ▶ 13:02
Opinion
Pon: Vitalik Buterin Leads Ethereum With 'Preternatural Maturity'
“I really admire how Vitalik leads the community with such preternatural maturity. I mean, that, that, that blows me away.”
Bruce Pon Sep 14, 2017 ▶ 17:28
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