Let’s start at the end - Tweet of the Week. Dr. Alex Gouaillard, known to friends and business partners as Dr. Alex, was tragically killed last week due to a motor vehicle accident in Thailand. He had just been visiting the family of his daughter while dropping her at her School. Dr. Alex was the founder of Cosmo Software, the parent company of Millicast. At the Internet Engineering Task Force (IETF) and the World Wide Web Consortium (W3C), he was known as a thought leader in the evolution of WebRTC and, in particular, the ability to stream real-time video free of the latency that the old standards exhibit.
Only today, Google released Chrome 90 with a new video codec - AV1. It contains work done by Dr. Alex’s Cosmo Software colleague Sergio Garcia Murillo.
The team at Cosmo and Millicast is devastated, but at the same time, has a very strong commitment to using their ability to continue the work Dr. Alex led. And due to the company he kept, the team really does have the ability to do so. I wish them all the best and sincere condolences to his family.
This week Coinbase completed its journey to becoming a public company. Using the mechanism much loved by Benchmark Capital’s Bill Gurley, it did a direct listing. That means it did not raise money from the IPO, but it did list its shares, using the COIN ticker symbol. It was assumed to list at $250 a share, rose to $429 before settling to $328 on its first full day of trading.
A public listing is simply a milestone towards an end game. Valued at $60 billion, Coinbase is already a very large company. But with Bitcoin valued at over $1 trillion and with 56 million customers using its exchange trading platform, Coinbase is only at the start of its journey.
This week I curated the best pieces from people intimately associated with the Coinbase story from the beginning. In 9 short years, together, they have created a significant company that is championing a new way of thinking about money and value. Applause is in order, at least for a few seconds. Act two is coming up.
Also in the news this week, artificial intelligence. NVidia is rapidly becoming the company to watch if you want to understand what comes next in AI. We cover the company’s announcements as well as the Microsoft acquisition of Nuance - the voice AI company. Expect automated everything in the next 10-20 years.
And finally, the startup of the week is little Google. Larry and Sergey, the founders, reached a net worth of over $100 billion. They are in a very small company, and most of the others came out of the technology revolution.
I say this not to fetishize money but to acknowledge value creation. There is a lot more to come.