Balaji Srinivasan Explained
Balaji S. Srinivasan (born May 24, 1980)[2] is an American entrepreneur and investor. He was the co-founder of Counsyl, the former Chief Technology Officer (CTO) of Coinbase, and former general partner at the venture capital firm Andreessen Horowitz.
Early life and education
Srinivasan grew up on Long Island, in Plainview, New York.[3] He received BS, MS, and PhD degrees in Electrical Engineering from Stanford University and an MS in Chemical Engineering, also from Stanford.[4]
Career
Counsyl
In 2007, Srinivasan co-founded genetic testing company Counsyl, which provided tests to prospective parents to screen for Mendelian diseases.[2] [5] [6] Counsyl was acquired by Myriad Genetics for $375 million in 2018.[7] [8]
Andreessen Horowitz
In 2013, Srinivasan joined the venture capital firm Andreessen Horowitz as a general partner.[9] [10]
21 Inc (later Earn.com)
In 2013, Srinivasan co-founded 21e6, which later became 21 Inc,[11] a Bitcoin mining startup raising over $120 million from investors.[12] The company failed as a bitcoin mining business and pivoted to become Earn.com, which allowed senders to pay users in cryptocurrency to reply to emails.[13] Earn.com was acquired by digital currency exchange company Coinbase in April 2018.[14] [15] After Coinbase purchased Earn.com, it became Coinbase Earn and Srinivasan became Coinbase's first CTO.[16] [17] He left the company in 2019.[18] Coinbase shut down Coinbase Earn in December 2019.
Teleport
In April 2014, he co-founded Teleport, a job search engine. Teleport was acquired by Topia in 2017.[19] [20]
The Network State
In 2013, in a talk at Y Combinator's Startup School titled "Silicon Valley's Ultimate Exit" and in a Wired article called "Software Is Reorganizing the World",[21] Srinivasan urged the technology industry to digitally exit the United States and move abroad. The talk was received positively by Reason,[22] Wired,[23] and Bloomberg News,[24] but was criticized by The New York Times[25] and The Wall Street Journal.[26] After TechCrunch mentioned the speech in an article exploring links between Silicon Valley tech leaders and the far-right Dark Enlightenment movement,[27] Srinivasan wrote in an email to Dark Enlightenment leader Curtis Yarvin, "If things get hot, it may be interesting to sic the Dark Enlightenment audience on a single vulnerable hostile reporter to dox them and turn them inside out with hostile reporting sent to *their* advertisers/friends/contacts."[28] [29]
In 2022, in a self-published book titled The Network State: How To Start a New Country, Srinivasan elaborated on his ideas about online nationality and the need to break away from geographical governments. The book describes the concept of a "network state" in which digital communities crowd-fund resources to build autonomous cities and states.[30] [31] The ideas in the book were inspired by the work of the economist Albert O. Hirschman, who sees two basic paths to reform, one called voice (remake the system from within) and another called exit (leave and build something new).[32]
In an April 2024 article for The New Republic, Gil Duran warned against dismissing the Network State as an unpopular fringe theory.[33] His article drew from Srinivasan's September 2023 podcast interview in which he called for tech-friendly people to seize political power and take control of cities. Srinivasan said his plan would exclude Democrats from areas the techies control. He suggested bribing the police (with banquets and jobs for their relatives) to prevent them from enforcing laws disadvantageous to technology companies.[33] [34] Duran argued that Srinivasan's ideas reveal an "appetite for autocracy."
Public profile
MIT Technology Review named Srinivasan on its list of "Innovators Under 35" in 2013.[6] In 2018, Fortune ranked him 26th on its "The Ledger 40 Under 40" list.[2]
In 2017, the Trump Administration considered appointing Srinivasan as FDA Commissioner.[35] [36] [37] [38] [39] [40] While being considered for the appointment, Srinivasan deleted all of his tweets, including tweets critical of the FDA.[41] In one such deleted tweet, Srinivasan wrote, "For every thalidomide, many dead from slowed approvals."[42]
In July 2020, Srinivasan drew attention after criticizing Taylor Lorenz's reporting alleged misbehavior of Away's CEO on Twitter. On the Twitter thread, he suggested Lorenz and activists like her are "sociopaths." Lorenz defended herself and characterized Srinivasan's previous actions as harassment on Clubhouse and other platforms.[43] [44] [45] [46]
In April 2021, Srinivasan donated $50,000 in cryptocurrency to aid in Indian COVID-19 relief in during a resurgence of the virus in the country. On Twitter, he pledged to donate another $50 for every time his post was retweeted, up to $100,000.[47]
On March 17, 2023, Srinivasan bet James Medlock, a left-leaning economist, that one Bitcoin (then worth less than $30,000) would be worth $1 million in 90 days. Srinivasan made the bet after Medlock tweeted, "I'll bet anyone $1 million dollars that the US does not enter hyperinflation."[48] Srinivasan conceded the bet early and paid an additional to bitcoin core developers.[49] Forbes magazine remarked shortly after the bet was made that Srinivasan owns "a considerable amount of bitcoin" and his $1 million bet on Bitcoin "might be a mere marketing ploy or even a pump-and-dump scheme".[50] Ninety days after Srinivasan made his bet, the price of a Bitcoin was down roughly 3 percent from its March 17 price.[51]
Personal life
In 2020 Srinivasan moved to Singapore.[52]
External links
Notes and References
- Web site: US, India & China - Balaji Srinivasan Decodes the Geopolitical Dynamics | the Ranveer Show 349 . .
- Web site: 2018. Balaji Srinivasan. live. https://web.archive.org/web/20210112113149/https://fortune.com/the-ledger-40-under-40/2018/balaji-srinivasan/. January 12, 2021. February 6, 2021. Fortune. en.
- News: The Blockchain Is the Internet of Money . Wall Street Journal . September 22, 2017 . Varadarajan . Tunku . Tunku Varadarajan . June 17, 2021 . December 4, 2020 . https://web.archive.org/web/20201204003504/https://www.wsj.com/articles/the-blockchain-is-the-internet-of-money-1506119424 . live .
- Web site: Coinbase CTO Balaji Srinivasan joins the speakers at TechCrunch's first blockchain event . Jon Russel . . April 30, 2018.
- Web site: Kafka. Peter. January 14, 2017. Balaji Srinivasan, who may run the FDA for Trump, hates the FDA. But Silicon Valley likes Srinivasan.. live. https://web.archive.org/web/20210131062024/https://www.vox.com/2017/1/14/14276530/balaji-srinivasan-trump-fda-twitter-andreessen-horowitz. January 31, 2021. February 6, 2021. Vox. en.
- Web site: 2013. Balaji Srinivasan. live. https://archive.today/20210206073448/https://www.technologyreview.com/innovator/balaji-srinivasan/. February 6, 2021. February 6, 2021. MIT Technology Review. en.
- Web site: Myriad Genetics Signs Definitive Agreement to Acquire Counsyl, Inc. Myriad Genetics, Inc.. April 30, 2021. investor.myriad.com. en. April 30, 2021. https://web.archive.org/web/20210430030924/https://investor.myriad.com/news-releases/news-release-details/myriad-genetics-signs-definitive-agreement-acquire-counsyl-inc. live.
- Web site: May 29, 2018. Myriad Genetics to Acquire Counsyl for $375M. April 30, 2021. Genomeweb. en. April 30, 2021. https://web.archive.org/web/20210430030933/https://www.genomeweb.com/business-news/myriad-genetics-acquire-counsyl-375m. live.
- News: Gannes. Liz. December 10, 2013. Balaji Srinivasan Joins Andreessen Horowitz as General Partner. en-US. Wall Street Journal. April 29, 2021. 0099-9660. April 29, 2021. https://web.archive.org/web/20210429232927/https://www.wsj.com/articles/DJFVW00020131209e9c9vc8it. live.
- Web site: Cutler . Kim-Mai . December 9, 2013 . Counsyl Co-Founder Balaji Srinivasan Steps Up As Andreessen Horowitz' Newest General Partner . November 1, 2022 . TechCrunch . en-US.
- Web site: May 20, 2015 . What Is 21.co Really Building? An Excerpt From Digital Gold TechCrunch . October 29, 2022 . May 20, 2015 . https://web.archive.org/web/20150520234427/https://techcrunch.com/2015/05/18/what-is-21-co-really-doing-an-excerpt-from-digital-gold/ . bot: unknown .
- Web site: Srinivasan. Balaji . Balaji Srinivasan. April 16, 2018. The Turnaround. April 30, 2021. Medium. en. April 30, 2021. https://web.archive.org/web/20210430060302/https://medium.com/@balajis/the-turnaround-2d145589d814. live.
- News: Mann . Sonya . Now You Can Earn Cryptocurrency for Opening Your Email . February 16, 218. inc.com . 2 November 2022.
- Web site: Rooney. Kate. April 16, 2018. Bitcoin exchange Coinbase buys Earn.com for a reported $100M and adds key executive. April 24, 2021. CNBC. en. April 24, 2021. https://web.archive.org/web/20210424192832/https://www.cnbc.com/2018/04/16/bitcoin-exchange-coinbase-buys-earn-com-for-a-reported-100m.html. live.
- News: April 17, 2018. Coinbase Acquires Earn.com. en-US. Wall Street Journal. April 29, 2021. 0099-9660. April 29, 2021. https://web.archive.org/web/20210429232928/https://www.wsj.com/articles/coinbase-acquires-earn-com-1523926544. live.
- Web site: Russell. Jon. May 4, 2019. Coinbase loses its first CTO after just one year in the job. live. https://web.archive.org/web/20191130234828/https://techcrunch.com/2019/05/03/coinbase-cto-balaji-srinivasan/. November 30, 2019. February 6, 2021. TechCrunch. en-US.
- Web site: Armstrong. Brian. April 16, 2018. Welcome Balaji Srinivasan, Coinbase's new Chief Technology Officer. April 23, 2021. Medium. en. June 24, 2019. https://web.archive.org/web/20190624153824/https://blog.coinbase.com/welcome-balaji-srinivasan-coinbases-new-chief-technology-officer-e746503d7ab6. live.
- News: Russell . Jon . Coinbase loses its first CTO after just one year in the job . TechCrunch . May 4, 2019 . February 6, 2021 . February 4, 2021 . https://web.archive.org/web/20210204101050/https://techcrunch.com/2019/05/03/coinbase-cto-balaji-srinivasan/ . live .
- Web site: Cutler . Kim-Mai . May 19, 2014 . Andreessen-Incubated Teleport Aims To Make Location Irrelevant For Mobile Workers . live . https://web.archive.org/web/20150301002549/https://techcrunch.com/2014/05/19/teleport/ . March 1, 2015 . August 4, 2016 . .
- Web site: Hankewitz . Sten . April 3, 2017 . Estonian startup Teleport acquired by MOVE Guides . live . https://web.archive.org/web/20190316104449/http://estonianworld.com/business/estonian-startup-teleport-acquired-move-guides/ . March 16, 2019 . February 6, 2021 . Estonian World . en-GB.
- Software Is Reorganizing the World. en-US. Wired. April 30, 2021. 1059-1028. May 4, 2021. https://web.archive.org/web/20210504044329/https://www.wired.com/2013/11/software-is-reorganizing-the-world-and-cloud-formations-could-lead-to-physical-nations/. live.
- Web site: October 30, 2013. Tech Should Make It Easier To Escape Government Control, Says Startup Veteran Balaji Srinivasan. April 30, 2021. Reason.com. en-US. April 30, 2021. https://web.archive.org/web/20210430060303/https://reason.com/2013/10/30/tech-should-make-it-easier-to-escape-the/. live.
- Silicon Valley's Elite Don't Want to Secede. They Just Want to Stay on Top. en-US. Wired. April 30, 2021. 1059-1028. April 11, 2021. https://web.archive.org/web/20210411191930/https://www.wired.com/2013/12/balaji-srinivasan-joins-a16z/. live.
- News: Stephen L. . Carter. November 8, 2013. Is Silicon Valley Arrogant? Not by My Definition. en. Bloomberg.com. April 30, 2021. April 30, 2021. https://web.archive.org/web/20210430060303/https://www.bloomberg.com/opinion/articles/2013-11-08/is-silicon-valley-arrogant-not-by-my-definition. live.
- News: Giridharadas. Anand. October 28, 2013. Silicon Valley Roused by Secession Call. en-US. The New York Times. April 30, 2021. 0362-4331. April 23, 2021. https://web.archive.org/web/20210423113654/https://www.nytimes.com/2013/10/29/us/silicon-valley-roused-by-secession-call.html. live.
- News: Manjoo. Farhad. November 4, 2013. Silicon Valley Has an Arrogance Problem. en-US. Wall Street Journal. April 30, 2021. 0099-9660.
- News: Finley . Klint . Geeks for Monarchy: The Rise of the Neoreactionaries . TechCrunch . November 23, 2013 . June 17, 2021 . March 26, 2014 . https://web.archive.org/web/20140326035842/http://techcrunch.com/2013/11/22/geeks-for-monarchy/ . live .
- Web site: Cavaliere . Victoria . February 21, 2021 . Venture capitalist Balaji Srinivasan reportedly suggested doxxing a journalist who reported on narratives he didn't like . https://web.archive.org/web/20210214235454/https://www.businessinsider.com/venture-capitalist-balaji-srinivasan-suggested-doxxing-journalist-nyt-2021-2 . February 14, 2021 . live . Business Insider . April 21, 2021.
- News: Metz . Cade . February 22, 2021 . Silicon Valley's Safe Space . https://web.archive.org/web/20210420171731/https://www.nytimes.com/2021/02/13/technology/slate-star-codex-rationalists.html . April 20, 2021 . New York Times . April 21, 2021 . live . subscription.
- Web site: Chitkara . Hirsh . September 17, 2022 . For God and 'The Network State': The crypto elite's endgame . October 24, 2022 . Protocol . en.
- Web site: Balaji Srinivasan: The Network State [The Knowledge Project Ep. #134] ]. October 24, 2022 . Farnam Street . en-US.
- Web site: October 12, 2022 . Balaji Srinivasan: How to build your own country in the cloud . October 31, 2022 . Reason.com . en-US.
- News: Duran . Gil . Gil Duran . The Tech Baron Seeking to Purge San Francisco of "Blues" . April 27, 2024 . . April 26, 2024 . https://web.archive.org/web/20240427021940/https://newrepublic.com/article/180487/balaji-srinivasan-network-state-plutocrat . April 27, 2024 . live.
- Web site: Balaji on How the Tech Tribe Can Save Our Cities [Part 2] ].
- Web site: Balakrishnan. Anita. January 12, 2017. Trump met with two Silicon Valley insiders who may join the FDA. April 29, 2021. CNBC. en. April 29, 2021. https://web.archive.org/web/20210429232927/https://www.cnbc.com/2017/01/12/trump-met-silicon-valley-insiders-about-fda.html. live.
- News: Burton. Thomas M.. January 13, 2017. Donald Trump Looking Beyond Traditional Medical Experts for FDA Commissioner. en-US. Wall Street Journal. April 24, 2021. 0099-9660. April 24, 2021. https://web.archive.org/web/20210424081311/https://www.wsj.com/articles/donald-trump-looking-beyond-traditional-medical-experts-for-fda-commissioner-1484315356. live.
- News: George. Varghese K.. January 17, 2017. Indian American could be FDA head under Trump. en-IN. The Hindu. April 29, 2021. 0971-751X. April 29, 2021. https://web.archive.org/web/20210429232929/https://www.thehindu.com/news/international/Indian-American-could-be-FDA-head-under-Trump/article17047391.ece. live.
- Web site: Langlois. Shawn. The coronavirus will forever change us, according to an investor who was once eyed for Trump's top FDA gig. April 29, 2021. MarketWatch. en-US. April 29, 2021. https://web.archive.org/web/20210429232929/https://www.marketwatch.com/story/the-coronavirus-will-forever-change-us-according-to-an-investor-who-was-once-eyed-for-trumps-top-fda-gig-2020-04-07. live.
- News: Burton. Thomas M.. January 13, 2017. Donald Trump Looking Beyond Traditional Medical Experts for FDA Commissioner. en-US. Wall Street Journal. April 29, 2021. 0099-9660. April 25, 2021. https://web.archive.org/web/20210425085005/https://www.wsj.com/articles/donald-trump-looking-beyond-traditional-medical-experts-for-fda-commissioner-1484315356. live.
- News: RAJAGOPAL. DIVYA. Balaji S Srinivasan may join Trump's team. The Economic Times. April 30, 2021. April 30, 2021. https://web.archive.org/web/20210430030924/https://economictimes.indiatimes.com/small-biz/hr-leadership/people/balaji-s-srinivasan-may-join-trumps-team/articleshow/56618886.cms?from=mdr. live.
- Web site: Kafka. Peter. January 14, 2017. Balaji Srinivasan, who may run the FDA for Trump, hates the FDA. But Silicon Valley likes Srinivasan.. April 30, 2021. Vox. en. January 31, 2021. https://web.archive.org/web/20210131062024/https://www.vox.com/2017/1/14/14276530/balaji-srinivasan-trump-fda-twitter-andreessen-horowitz. live.
- Chafkin, Max (September 15, 2021) "Peter Thiel Gamed Silicon Valley, Donald Trump, and Democracy to Make Billions, Tax-Free." Bloomberg Businessweek. (Retrieved October 15, 2021.)
- Web site: Silicon Valley Elite Discuss Journalists Having Too Much Power in Private App. May 28, 2021. www.vice.com. July 2, 2020 . en. May 23, 2021. https://web.archive.org/web/20210523083120/https://www.vice.com/en/article/n7w3zw/silicon-valley-elite-discuss-journalists-having-too-much-power-in-private-app. live.
- Web site: Kasana. Mehreen. A journalist does not deserve to be harassed by VCs for doing her job. May 28, 2021. Input. July 3, 2020 . en. May 31, 2021. https://web.archive.org/web/20210531163710/https://www.inputmag.com/culture/a-journalist-does-not-deserved-to-be-harassed-by-vcs-taylor-lorenz-balaji-srinivasan. live.
- Web site: Newton. Casey. July 7, 2020. How Twitter is shifting the power balance from companies to their employees. May 28, 2021. The Verge. en. April 28, 2021. https://web.archive.org/web/20210428144044/https://www.theverge.com/interface/2020/7/7/21314636/twitter-nyt-taylor-lorenz-balaji-labor-movement. live.
- Levy. Steven. July 10, 2020. Where Are the Adults in the Clubhouse?. Wired . live. June 17, 2021. March 8, 2021. https://web.archive.org/web/20210308222257/https://www.wired.com/story/plaintext-where-are-the-adults-in-the-clubhouse/.
- News: Tech bosses pad up to help India in Covid fight; angel investor Balaji Srinivasan, Vinod Khosla, Sundar Pichai offer monetary support. The Economic Times. April 29, 2021. April 29, 2021. https://web.archive.org/web/20210429145625/https://economictimes.indiatimes.com/magazines/panache/tech-bosses-pad-up-to-help-india-in-covid-fight-angel-investor-balaji-srinivasan-vinod-khosla-sundar-pichai-offer-monetary-support/articleshow/82257959.cms. live.
- Schreckinger, Ben (March 20, 2023) "A big bet on the near-term future of... money." Politico.com. (Retrieved June 6, 2023.)
- News: DiCamillo . Nate . Balaji Srinivasan lost $1 million in a bizarre bitcoin bet . April 19, 2024 . . May 3, 2023 . en.
- Kochkodin, Brandon (March 20, 2023) "Who Is Balaji Srinivasan And Why Should We Care About His $1 Million Bitcoin Prediction?" Forbes. (Retrieved May 1, 2023.)
- Querishi, Mehab (June 17, 2023) "Yikes! Only 1 Day Remaining For Balaji Srinivasan's $1M Bet—Yet Bitcoin Fails To Surge By Even 1%." MSN.com. (Retrieved June 20, 2023.)
- Web site: February 16, 2021 . Entrepreneurs don't need to come to US to build billion-dollar businesses, says Balaji Srinivasan . October 21, 2022 . The Economic Times.