Lily Liu,CoFounder Earn.com #blockchainwomen

Summary

Lilly, a co-founder and former CFO of Earn.com, discusses the evolution and challenges of the company, which started as a mining venture and pivoted to paid email services, eventually being acquired by Coinbase. She reflects on the volatility and public perception of cryptocurrency, sharing her experiences from early involvement in the industry and her belief in its long-term potential. Despite facing skepticism and market fluctuations, Lilly remains optimistic about the future of blockchain technology and its transformative impact on society.

Takeaways

• 👋 Introduction: Lilly, the speaker, was the CFO of 21 (now Earn.com) which was sold to Coinbase earlier this year.
• 🔄 Company Evolution: 21 started as a mining company in a rough spot and pivoted to a paid email profile business model to combat spam.
• 💡 Innovation: The company implemented a novel idea to tax spam within its ecosystem, which eventually became a successful business model.
• 📈 Business Growth: The company experienced significant growth and was eventually sold to Coinbase, indicating a successful outcome.
• 📱 Personal Experience: Lilly uses Nomorobo to combat spam calls and texts, highlighting the ongoing issue of unwanted communications.
• 🚀 Cryptocurrency Experience: Lilly entered the cryptocurrency space around 2013-2014, witnessing its highs and lows.
• 📊 Market Volatility: The speaker discusses the volatility of the cryptocurrency market and the personal challenges of navigating it.
• 🤔 Self-Reflection: Lilly questioned the use of her time during the low points of the cryptocurrency market, reflecting on her career choices.
• 🏢 Industry Perception: Lilly contrasts the outside perception of cryptocurrency as 'dark web money' with her belief in its transformative potential.
• 🌐 Blockchain Belief: Despite challenges, Lilly maintains a strong belief in the long-term vision and transformative power of blockchain technology.
• 🔑 Future Outlook: She sees the current state of the industry as a correction rather than a downturn, maintaining an optimistic view of its future.

Q & A

What company did Lilly co-found and sell to Coinbase?

Lilly co-founded Earn.com, which was sold to Coinbase earlier this year.

What was the original name of Earn.com?

The original name of Earn.com was 21.

What was 21's initial business focus before becoming Earn.com?

21 was initially a mining company before it transformed into Earn.com.

What was the primary idea behind Earn.com?

The primary idea behind Earn.com was paid email and pay profiles, aiming to create a system to tax spam in the ecosystem.

How long did Lilly work with the company before it was sold?

Lilly worked with the company for about three years before it was sold to Coinbase.

What were some challenges Lilly faced in the cryptocurrency industry?

Lilly faced challenges such as the volatility of cryptocurrency prices and skepticism from colleagues about the legitimacy of the industry.

How did the price of Bitcoin fluctuate during Lilly's early involvement in cryptocurrency?

The price of Bitcoin saw a dramatic rise to around $1300, followed by a significant drop to around $170-580, which created uncertainty about the industry's future.

What were some of the misconceptions about cryptocurrency according to Lilly?

Some misconceptions included the belief that cryptocurrency was primarily used for illegal activities and was viewed as 'drug money' or 'dirty money.'

What does Lilly believe about the long-term potential of cryptocurrency and blockchain technology?

Lilly believes in the transformative potential of cryptocurrency and blockchain technology and is excited about their long-term vision and impact.

How does Lilly view the current state of the cryptocurrency market?

Lilly sees the current state as a correction from the previous parabolic rise but believes that the industry is still on an upward trend with ongoing innovation and investment.