Part 5/12:
The Entrepreneurial Leap
Armstrong met Fred Ehrsam online, and despite the stability of his job at Airbnb, he chose to leave and co-found Coinbase in June 2012. The initial days were tough — working from a cramped apartment, dealing with technical failures, and raising funds in a nascent industry. Entrepreneurs often face setbacks, and Coinbase's early struggles were no exception; the website went offline frequently, and security was a significant concern. They warned users not to reserve more money than they could afford to lose, acknowledging the platform's beta status.