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Crypto for Newbies: Where to start with Preethi Kasireddy
By Superteam
Published on 2021-07-10
Learn how to get started in crypto from former Coinbase engineer Preethi Kasireddy. Discover the impact of blockchain technology and tips for financial literacy.
Preethi Kasireddy on Getting Started in Crypto: Key Insights for Beginners
In this insightful episode of Super Pump, hosts Tanmay and Akshay sit down with Preethi Kasireddy, a prominent figure in the cryptocurrency space, to discuss her journey into crypto and provide valuable advice for newcomers. Preethi, an entrepreneur, writer, engineer, and investor, shares her experiences and offers a unique perspective on the evolving world of blockchain technology.
Preethi's Journey into Crypto
Preethi's path to becoming a crypto expert is nothing short of fascinating. Her journey began in 2015, but her background in tech and finance laid the groundwork for her eventual transition into the world of blockchain. After graduating as an engineer, Preethi took an unexpected turn into investment banking, landing a position at Goldman Sachs in Silicon Valley.
"I was doing tech banking in the Valley, so it was a combination of all three," Preethi recalls, referring to her experience in finance, Silicon Valley, and technology.
However, Preethi soon realized that banking wasn't her true passion. This realization led her to join Andreessen Horowitz (a16z) in 2013, where she worked on the deal team for over two years. It was during her time at a16z that Preethi first encountered Bitcoin, though she admits she didn't fully grasp its significance at first.
The Pivotal Moment: Learning to Code
In a bold move that would later prove instrumental in her crypto career, Preethi left a16z to teach herself how to code. This decision, which she famously documented in a blog post titled "I'm leaving the best job in the world to teach myself how to code," showcases her dedication to continuous learning and self-improvement.
"I felt like there was one skill set that I was missing to be able to do the things I want to do," Preethi explains, highlighting the importance of technical knowledge in the rapidly evolving tech landscape.
Entering the Crypto Space at Coinbase
Armed with her newly acquired coding skills, Preethi joined Coinbase as a software engineer in 2015. This move marked her official entry into the cryptocurrency industry, though she notes that it was still a bear market at the time.
"2015 was like a bear market, and no one was talking about Bitcoin. People thought it was weird for joining this company called Coinbase," Preethi recalls. Despite the skepticism, she was drawn to the energy and unique mindset of the team at Coinbase.
Diving Deeper into Ethereum and Smart Contracts
After less than a year at Coinbase, Preethi's curiosity led her to explore other aspects of the crypto world. She left to teach herself how to write smart contracts on Ethereum, recognizing the growing popularity and potential of this blockchain platform.
"I actually worked on a project that helped integrate Ethereum into the [Coinbase] platform," Preethi shares, explaining how this experience sparked her interest in Ethereum development.
Launching a Crypto Startup
Preethi's journey in crypto took another significant turn when she started her own cryptocurrency company in late 2017. The project, called True Story, aimed to use crypto incentives to encourage honesty and authenticity in online interactions.
"We were using basically crypto incentives to incentivize people to have skin in the game when they faced up online," Preethi explains. Although the company ultimately shut down in early 2020, the experience provided valuable insights into the challenges of building consumer-facing applications in the crypto space.
The Evolution of Crypto Education
One of the key topics discussed in the podcast is the changing landscape of crypto education. Preethi notes that people entering the crypto world today often come with more background knowledge than in previous years.
"People are coming in with a little bit more education and having self-educated themselves a little bit. They're not completely like blank slates where you have to start from scratch," Preethi observes.
This evolution in crypto literacy has led to the emergence of what Preethi calls "crypto natives" – people who fully embrace and understand the crypto ecosystem as an integral part of their worldview.
The Importance of Financial Literacy in Crypto
A significant portion of the discussion focuses on the role of financial literacy in the crypto space. Preethi emphasizes that many of the mistakes made by newcomers stem from a lack of general financial education.
"Humans are not taught financial education at all in the modern day. So we don't understand how to invest. Most people don't understand how to invest. They don't understand the philosophy of money and the philosophy of investing," Preethi explains.
However, she sees crypto as a potential catalyst for widespread financial literacy. As younger generations grow up with crypto as part of their everyday lives, they're likely to develop a much stronger understanding of financial concepts from an early age.
Crypto's Impact on Personal Growth and Worldview
The conversation takes an interesting turn as the hosts and Preethi discuss how involvement in crypto can lead to personal growth and a shift in worldview. Preethi notes that crypto has encouraged her to constantly learn and question existing systems.
"To be in crypto, you have to always be learning, and I think humans should always be learning," Preethi states. This constant learning keeps individuals engaged and mentally sharp, potentially leading to increased creativity and a more open-minded approach to life.
Rethinking Traditional Financial Advice
The discussion challenges some conventional financial wisdom, particularly the commonly touted advice to invest in index funds over a long-term horizon. Preethi argues that while this advice isn't necessarily wrong, it often comes from a place of intimidation and can discourage people from actively learning about investing.
"These people are, they're not any smarter than you, they just have access to knowledge that you didn't have before. And I think what crypto does is it gives us access to knowledge and also this platform to experiment," Preethi explains, highlighting how crypto democratizes access to financial knowledge and tools.
The Future of Crypto Education
Looking ahead, Preethi shares her plans for a cohort-based course aimed at teaching engineers how to build on Ethereum. This initiative underscores the growing demand for practical, hands-on education in the crypto space.
"One of the things I'm working on that's going to launch in the end of August or September is a cohort-based course, which will be -- it's kind of like a boot camp, seven-day boot camp, where I'll be picking about 30 engineers to teach them how to build out of the Ethereum from ground zero," Preethi reveals.
Crypto's Broader Impact on Society
The conversation concludes with reflections on how crypto is prompting people to question and rethink various aspects of their lives beyond just finance. From diet choices to broader philosophical questions, the critical thinking skills developed in the crypto space often spill over into other areas of life.
"I think we're in this phase where everyone's kind of questioning everything, especially after 2020," Preethi observes, noting that this questioning extends beyond just the crypto community.
Conclusion: The Ongoing Evolution of Crypto
As the podcast wraps up, it's clear that the world of cryptocurrency is still in its early stages, with much room for growth, innovation, and education. Preethi's journey and insights offer valuable guidance for those looking to enter the space, emphasizing the importance of continuous learning, critical thinking, and an open mind.
The conversation with Preethi Kasireddy provides a comprehensive overview of the current state of crypto education and adoption, while also offering a glimpse into the potential future impact of blockchain technology on society at large. As the crypto ecosystem continues to evolve, it's clear that education and accessibility will play crucial roles in shaping its development and widespread adoption.
Facts + Figures
• Preethi Kasireddy has been in crypto since about 2015
• She worked at Goldman Sachs doing tech banking in Silicon Valley before joining Andreessen Horowitz in 2013
• Preethi joined Coinbase as a software engineer in 2015 when it was still a bear market for crypto
• She left Coinbase after less than a year to teach herself how to write smart contracts on Ethereum
• Preethi started her own crypto company called True Story in late 2017, which shut down in early 2020
• She is now working on a 7-day bootcamp course to teach 30 engineers how to build on Ethereum from scratch
• The course is set to launch in late August or September 2021
• Preethi notes that people entering crypto now often have more background knowledge than in previous years
• She observes the emergence of "crypto natives" who fully embrace the crypto ecosystem as part of their worldview
• Preethi emphasizes that many mistakes in crypto stem from a lack of general financial education
• She sees crypto as a potential catalyst for widespread financial literacy, especially among younger generations
• Preethi argues that involvement in crypto encourages constant learning and questioning of existing systems
• She challenges the conventional wisdom of only investing in index funds long-term
• Preethi believes crypto democratizes access to financial knowledge and tools for experimenting
Questions Answered
How did Preethi Kasireddy get started in crypto?
Preethi Kasireddy entered the crypto space in 2015 when she joined Coinbase as a software engineer. Prior to that, she had worked at Goldman Sachs and Andreessen Horowitz, where she was first exposed to Bitcoin. Her journey into crypto was driven by a desire to learn and understand this new technology, leading her to teach herself coding and eventually specialize in blockchain development.
What is the importance of financial literacy in crypto?
Financial literacy is crucial in the crypto space, as many mistakes made by newcomers stem from a lack of general financial education. Preethi emphasizes that most people don't understand how to invest or grasp the philosophy of money and investing. However, she sees crypto as a potential catalyst for widespread financial literacy, particularly among younger generations who are growing up with crypto as part of their everyday lives.
How has crypto impacted Preethi's personal growth and worldview?
Involvement in crypto has encouraged Preethi to constantly learn and question existing systems. She notes that being in crypto requires continuous learning, which keeps individuals engaged and mentally sharp. This constant learning and questioning has led to increased creativity and a more open-minded approach to life, extending beyond just financial matters to other aspects of life such as diet choices and broader philosophical questions.
What is Preethi's view on traditional financial advice like investing in index funds?
Preethi challenges the conventional wisdom of primarily investing in index funds over a long-term horizon. While she doesn't necessarily disagree with this advice, she argues that it often comes from a place of intimidation and can discourage people from actively learning about investing. Preethi believes that crypto democratizes access to financial knowledge and provides tools for experimenting, allowing individuals to develop their own investment strategies.
What are Preethi's plans for crypto education?
Preethi is developing a cohort-based course aimed at teaching engineers how to build on Ethereum. The course is described as a 7-day bootcamp where she will select about 30 engineers to teach them how to build on Ethereum from the ground up. This initiative highlights the growing demand for practical, hands-on education in the crypto space and is set to launch in late August or September 2021.
How has the crypto community evolved over time?
According to Preethi, people entering the crypto world today often come with more background knowledge than in previous years. She notes the emergence of "crypto natives" – individuals who fully embrace and understand the crypto ecosystem as an integral part of their worldview. This evolution in crypto literacy has led to a more sophisticated and engaged community compared to earlier years.
What challenges did Preethi face when starting her own crypto company?
Preethi launched a crypto startup called True Story in late 2017, which aimed to use crypto incentives to encourage honesty and authenticity in online interactions. However, the company faced challenges related to being too early in the market and trying to solve multiple complex problems simultaneously. These included building a consumer-facing application while also developing their own blockchain and token, all while navigating the regulatory landscape in the US. The company ultimately shut down in early 2020.
How does Preethi see the future impact of crypto on society?
Preethi believes that crypto is prompting people to question and rethink various aspects of their lives beyond just finance. She observes that this questioning extends beyond just the crypto community, especially in the wake of events like the 2020 pandemic. Preethi sees crypto as a tool that could potentially rebuild social and economic systems, though she acknowledges that its ultimate use cases are still being discovered and developed.
On this page
- Preethi's Journey into Crypto
- The Pivotal Moment: Learning to Code
- Entering the Crypto Space at Coinbase
- Diving Deeper into Ethereum and Smart Contracts
- Launching a Crypto Startup
- The Evolution of Crypto Education
- The Importance of Financial Literacy in Crypto
- Crypto's Impact on Personal Growth and Worldview
- Rethinking Traditional Financial Advice
- The Future of Crypto Education
- Crypto's Broader Impact on Society
- Conclusion: The Ongoing Evolution of Crypto
- Facts + Figures
-
Questions Answered
- How did Preethi Kasireddy get started in crypto?
- What is the importance of financial literacy in crypto?
- How has crypto impacted Preethi's personal growth and worldview?
- What is Preethi's view on traditional financial advice like investing in index funds?
- What are Preethi's plans for crypto education?
- How has the crypto community evolved over time?
- What challenges did Preethi face when starting her own crypto company?
- How does Preethi see the future impact of crypto on society?
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