#402: Nicholas Hinrichsen on How To Build A Successful Startup

The Pomp Podcast

Anthony Pompliano

Business, Investing

4.8 • 1.9K Ratings

🗓️ 7 October 2020

⏱️ 56 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Nicholas Hinrichsen started his first company, Carlypso, in 2013. He participated in YCombinator and raised $10M in venture funding, before eventually selling the business to Carvana in 2017. Nicholas is now building a new company in the automobile space called Clutch. In this conversation, we discuss learnings from building Carlypso, vertical integration, margin competition, propensity for action, neobanks, and the financialization of everything. ============================== Crypto.com is the only all-in-one platform that allows you to BUY / SELL / STORE / EARN / LOAN / INVEST crypto all from one place. Join over 1 million users currently using the Crypto.com app. Download and earn $50 USD using my code ‘pomp2020’, or use the link https://platinum.crypto.com/r/pomp2020 when you sign up for one of their metal cards today. ============================== Coinbase Wallets are adding support for .crypto and .zil domains through their partnership with Unstoppable Domains. Unstoppable Domains provides an all-in-one solution for blockchain domains. You can send money using these new domains instead of long Bitcoin wallet addresses, while also storing your domain in Coinbase's collectibles section. Go to unstoppabledomains.com in the dapp browser to register and manage your domains. ============================== Pomp writes a daily letter to over 50,000 investors about business, technology, and finance. He breaks down complex topics into easy to understand language, while sharing opinions on various aspects of each industry. You can subscribe at https://www.pompletter.com

Transcript

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0:00.0	What's up, everyone? This is Anthony Pompliano. Most of you know me as Pomp. You're listening to the Pomp
0:05.3	podcast, simply the best podcast out there. Let's kick this thing off. Nicholas Henriksen started his first company,
0:13.2	Carlipso, in 2013. He participated in Y Combinator and raised $10 million in venture funding,
0:19.8	before eventually selling the business
0:21.2	to Carvana in 2017. Nicholas is now building a new company in the automobile space called Clutch.
0:27.8	In this conversation, we discussed learnings from building Carlipso, vertical integration, margin
0:33.4	competition, propensity for action, neobanks, and the financialization of everything. I really,
0:39.4	really enjoyed this conversation with Nicholas, and I hope you do as well. Before we get into
0:44.1	this episode, though, I want to quickly talk about our sponsors. First up is crypto.com. They're an all-in-one
0:50.5	platform that allows you to buy, sell, store, earn, loan, or invest crypto, all from one place.
0:56.0	You can join over 1 million users currently using the crypto.com app as well.
1:00.8	If you head on over to crypto.com, not only do they have a great URL, but it's a place where
1:05.4	mass adoption is occurring. Again, an all-in-one platform that allows you to buy, sell, store,
1:10.4	earn, loan, or invest crypto all from one place.
1:13.7	The simplicity is everything from the URL to how they do business.
1:17.7	Go check them out at crypto.com.
1:20.3	Next up is Unstoppable Domains.
1:23.3	Unstoppable Domains is solving one of the biggest pain points in all of Bitcoin.
1:27.7	Everyone hates having to send Bitcoin to a random string of letters and numbers.
1:32.1	Now, with Unstoppable Domains and a Coinbase wallet, you can use a dot crypto domain.
1:38.6	So what that means is I've got pomp.com.
1:41.8	Rather than have to send the random string of letters and numbers to somebody when they want to send me Bitcoin, I can simply say, hey, send it to pomp. Crypto. Rather than have to send the random string of letters and numbers to somebody
	...

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