Coinbase 10% - A Billionaire's Idea to build the next big thing
This mindset can future-proof you and your Business
I was watching an interview on Gary Tan’s Youtube channel in which Brian Armstrong, CEO of Coinbase (One of the world’s top crypto exchanges) was the guest.
Somewhere deep into the conversation, Brian Armstrong mentioned something called “Coinbase 10%“ which struck me.
He goes on to explain what it is. At the organization, they try to dedicate 10% of the revenue and resources to work on an experimental idea that might not have anything to do with their current state of business. It can be an idea that one of their employees wants to work on or something that has never been done before etc..
For sure, 80-90% of all these projects will be a failure. But sometimes 10%-5% or even 1% of those ideas might lead them to the “Next big thing“
As a marketer, you should also follow this “10% rule” in my opinion. Create an experimental lab. It can be a google doc, a notion page, or any notetaking app. Just note down really crazy ideas you have. Wait for one day. Still, if your gut says it worth chasing, spent 10% of your time and if you can afford, 10% of your income to pursue it.
The outcome could only be two: You crack an amazing idea that will take you places or you fail and learn. Both are positives for me. It’s a win-win.
Go write down that idea. or Tweet at me the idea you have, lets discuss.