Balaji Srinivasan

Balaji S. Srinivasan (born May 24, 1980)[1] 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.[2]

Balaji Srinivasan
Born (1980-05-24) May 24, 1980
Plainview, New York, U.S.
EducationStanford University (BS, MS, MS, PhD)
Known for

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.[1][2][5] Counsyl was acquired by Myriad Genetics for $375 million in 2018.[6][7]

Andreessen Horowitz

In 2013, Srinivasan joined the venture capital firm Andreessen Horowitz as a general partner.[8][9]

21 Inc (later Earn.com)

In 2013, Srinivasan co-founded 21e6, which later became 21 Inc,[10] a Bitcoin mining startup that failed as a bitcoin mining business after raising over $120 million from investors.[11] The company later pivoted to become Earn.com, which allowed senders to pay users in digital currency to reply to emails.[1] Earn.com was acquired by digital currency exchange company Coinbase in April 2018.[12][13] After Coinbase purchased Earn.com, it became Coinbase Earn and Srinivasan became Coinbase's first CTO.[1][14][15] He left the company in 2019.[16] 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.[17][18]

Published books

The Network State

In July 2022, Srinivasan self-published The Network State: How To Start a New Country. The book describes the concept of a "network state" in which digital communities crowd-fund resources to build autonomous cities and states.[19][20][21] The ideas in the book are inspired by the work of the economist Albert O. Hirschman who sees two basic paths to reform: voice (remake the system from within) and exit (leave and build something new).[21]

Public profile

MIT Technology Review named Srinivasan on its list of "Innovators Under 35" in 2013.[5] In 2018, Fortune ranked him 26th on its "The Ledger 40 Under 40" list.[1]

In 2013, Srinivasan gave a talk at Y Combinator's Startup School titled "Silicon Valley's Ultimate Exit" and published "Software Is Reorganizing the World"[22] in Wired, which advocated for the technology industry to digitally exit the United States and move abroad. The talk was received positively by Reason,[23] Wired,[24] and Bloomberg News,[25] but was criticized by The New York Times[26] and The Wall Street Journal.[27] In 2022, Srinivasan extended this idea, publishing The Network State, about online nationality and the breakaway from geographical governments.

In 2013, after TechCrunch published an article exploring links between Silicon Valley tech leaders and the Dark Enlightenment movement that mentioned this speech,[28] Srinivasan suggested doxing reporters who bring these links to the attention of the public. In an email to Curtis Yarvin, he wrote, "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.”[29][30]

In 2017, the Trump Administration considered appointing Srinivasan as FDA Commissioner.[31][32][33][34][35][36] While being considered for the appointment, Srinivasan deleted all of his tweets, including tweets critical of the FDA.[37] In one such deleted tweet, Srinivasan wrote, "For every thalidomide, many dead from slowed approvals.”[38]

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.[39][40][41][42]

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.[43]

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.”[44] Forbes magazine remarked 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."[45] Ninety days after Srinivasan made his bet, the price of a Bitcoin was down roughly 3 percent from its March 17 price.[46]

Personal life

In 2020 Srinivasan moved to Singapore.[47]

References
  1. "Balaji Srinivasan". Fortune. 2018. Archived from the original on January 12, 2021. Retrieved February 6, 2021.
  2. Kafka, Peter (January 14, 2017). "Balaji Srinivasan, who may run the FDA for Trump, hates the FDA. But Silicon Valley likes Srinivasan". Vox. Archived from the original on January 31, 2021. Retrieved February 6, 2021.
  3. Varadarajan, Tunku (September 22, 2017). "The Blockchain Is the Internet of Money". Wall Street Journal. Archived from the original on December 4, 2020. Retrieved June 17, 2021.
  4. Jon Russel (April 30, 2018). "Coinbase CTO Balaji Srinivasan joins the speakers at TechCrunch's first blockchain event". TechCrunch.
  5. "Balaji Srinivasan". MIT Technology Review. 2013. Archived from the original on February 6, 2021. Retrieved February 6, 2021.
  6. "Myriad Genetics Signs Definitive Agreement to Acquire Counsyl, Inc. | Myriad Genetics, Inc". investor.myriad.com. Archived from the original on April 30, 2021. Retrieved April 30, 2021.
  7. "Myriad Genetics to Acquire Counsyl for $375M". Genomeweb. May 29, 2018. Archived from the original on April 30, 2021. Retrieved April 30, 2021.
  8. Gannes, Liz (December 10, 2013). "Balaji Srinivasan Joins Andreessen Horowitz as General Partner". Wall Street Journal. ISSN 0099-9660. Archived from the original on April 29, 2021. Retrieved April 29, 2021.
  9. Cutler, Kim-Mai (December 9, 2013). "Counsyl Co-Founder Balaji Srinivasan Steps Up As Andreessen Horowitz' Newest General Partner". TechCrunch. Retrieved November 1, 2022.
  10. "What Is 21.co Really Building? An Excerpt From Digital Gold | TechCrunch". May 20, 2015. Archived from the original on May 20, 2015. Retrieved October 29, 2022.{{cite web}}: CS1 maint: bot: original URL status unknown (link)
  11. Srinivasan, Balaji (April 16, 2018). "The Turnaround". Medium. Archived from the original on April 30, 2021. Retrieved April 30, 2021.
  12. Rooney, Kate (April 16, 2018). "Bitcoin exchange Coinbase buys Earn.com for a reported $100M and adds key executive". CNBC. Archived from the original on April 24, 2021. Retrieved April 24, 2021.
  13. "Coinbase Acquires Earn.com". Wall Street Journal. April 17, 2018. ISSN 0099-9660. Archived from the original on April 29, 2021. Retrieved April 29, 2021.
  14. Russell, Jon (May 4, 2019). "Coinbase loses its first CTO after just one year in the job". TechCrunch. Archived from the original on November 30, 2019. Retrieved February 6, 2021.
  15. Armstrong, Brian (April 16, 2018). "Welcome Balaji Srinivasan, Coinbase's new Chief Technology Officer". Medium. Archived from the original on June 24, 2019. Retrieved April 23, 2021.
  16. Russell, Jon (May 4, 2019). "Coinbase loses its first CTO after just one year in the job". TechCrunch. Archived from the original on February 4, 2021. Retrieved February 6, 2021.
  17. Cutler, Kim-Mai (May 19, 2014). "Andreessen-Incubated Teleport Aims To Make Location Irrelevant For Mobile Workers". TechCrunch. Archived from the original on March 1, 2015. Retrieved August 4, 2016.
  18. Hankewitz, Sten (April 3, 2017). "Estonian startup Teleport acquired by MOVE Guides". Estonian World. Archived from the original on March 16, 2019. Retrieved February 6, 2021.
  19. Chitkara, Hirsh (September 17, 2022). "For God and 'The Network State': The crypto elite's endgame". Protocol. Retrieved October 24, 2022.
  20. "Balaji Srinivasan: The Network State [The Knowledge Project Ep. #134]". Farnam Street. Retrieved October 24, 2022.
  21. "Balaji Srinivasan: How to build your own country in the cloud". Reason.com. October 12, 2022. Retrieved October 31, 2022.
  22. "Software Is Reorganizing the World". Wired. ISSN 1059-1028. Archived from the original on May 4, 2021. Retrieved April 30, 2021.
  23. "Tech Should Make It Easier To Escape Government Control, Says Startup Veteran Balaji Srinivasan". Reason.com. October 30, 2013. Archived from the original on April 30, 2021. Retrieved April 30, 2021.
  24. "Silicon Valley's Elite Don't Want to Secede. They Just Want to Stay on Top". Wired. ISSN 1059-1028. Archived from the original on April 11, 2021. Retrieved April 30, 2021.
  25. "Is Silicon Valley Arrogant? Not by My Definition". Bloomberg.com. November 8, 2013. Archived from the original on April 30, 2021. Retrieved April 30, 2021.
  26. Giridharadas, Anand (October 28, 2013). "Silicon Valley Roused by Secession Call". The New York Times. ISSN 0362-4331. Archived from the original on April 23, 2021. Retrieved April 30, 2021.
  27. Manjoo, Farhad (November 4, 2013). "Silicon Valley Has an Arrogance Problem". Wall Street Journal. ISSN 0099-9660. Retrieved April 30, 2021.
  28. Finley, Klint (November 23, 2013). "Geeks for Monarchy: The Rise of the Neoreactionaries". TechCrunch. Archived from the original on March 26, 2014. Retrieved June 17, 2021.
  29. Cavaliere, Victoria (February 21, 2021) “Venture capitalist Balaji Srinivasan reportedly suggested doxxing a journalist who reported on narratives he didn't like.” Archived February 14, 2021, at the Wayback Machine Business Insider. (Retrieved April 21, 2021.)
  30. Metz, Cade (February 22, 2021) “Silicon Valley’s Safe Space.” Archived April 20, 2021, at the Wayback Machine New York Times. (Retrieved April 21, 2021.)
  31. Balakrishnan, Anita (January 12, 2017). "Trump met with two Silicon Valley insiders who may join the FDA". CNBC. Archived from the original on April 29, 2021. Retrieved April 29, 2021.
  32. Burton, Thomas M. (January 13, 2017). "Donald Trump Looking Beyond Traditional Medical Experts for FDA Commissioner". Wall Street Journal. ISSN 0099-9660. Archived from the original on April 24, 2021. Retrieved April 24, 2021.
  33. George, Varghese K. (January 17, 2017). "Indian American could be FDA head under Trump". The Hindu. ISSN 0971-751X. Archived from the original on April 29, 2021. Retrieved April 29, 2021.
  34. Langlois, Shawn. "The coronavirus will forever change us, according to an investor who was once eyed for Trump's top FDA gig". MarketWatch. Archived from the original on April 29, 2021. Retrieved April 29, 2021.
  35. Burton, Thomas M. (January 13, 2017). "Donald Trump Looking Beyond Traditional Medical Experts for FDA Commissioner". Wall Street Journal. ISSN 0099-9660. Archived from the original on April 25, 2021. Retrieved April 29, 2021.
  36. RAJAGOPAL, DIVYA. "Balaji S Srinivasan may join Trump's team". The Economic Times. Archived from the original on April 30, 2021. Retrieved April 30, 2021.
  37. Kafka, Peter (January 14, 2017). "Balaji Srinivasan, who may run the FDA for Trump, hates the FDA. But Silicon Valley likes Srinivasan". Vox. Archived from the original on January 31, 2021. Retrieved April 30, 2021.
  38. 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.)
  39. "Silicon Valley Elite Discuss Journalists Having Too Much Power in Private App". www.vice.com. July 2, 2020. Archived from the original on May 23, 2021. Retrieved May 28, 2021.
  40. Kasana, Mehreen (July 3, 2020). "A journalist does not deserve to be harassed by VCs for doing her job". Input. Archived from the original on May 31, 2021. Retrieved May 28, 2021.
  41. Newton, Casey (July 7, 2020). "How Twitter is shifting the power balance from companies to their employees". The Verge. Archived from the original on April 28, 2021. Retrieved May 28, 2021.
  42. Levy, Steven (July 10, 2020). "Where Are the Adults in the Clubhouse?". Wired. Archived from the original on March 8, 2021. Retrieved June 17, 2021.
  43. "Tech bosses pad up to help India in Covid fight; angel investor Balaji Srinivasan, Vinod Khosla, Sundar Pichai offer monetary support". The Economic Times. Archived from the original on April 29, 2021. Retrieved April 29, 2021.
  44. Schreckinger, Ben (March 20, 2023) "A big bet on the near-term future of... money." Politico.com. (Retrieved June 6, 2023.)
  45. 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.)
  46. 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.)
  47. "Entrepreneurs don't need to come to US to build billion-dollar businesses, says Balaji Srinivasan". The Economic Times. February 16, 2021. Retrieved October 21, 2022.
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