019: Buying $69.3M in NFT Artwork & Y Combinator's Stupidest Smartest Guy = Vignesh Sundaresan

Vignesh Sundaresan - Lendroid Interview

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Background on NFT Investor – Vignesh Sundaresan:

Vignesh Sundaresan is a blockchain entrepreneur, an open protocol architect, and Y Combinator Alumni. He designed and leads the project that implements the open protocol – Lendroid. A professional programmer with expertise in blockchain technologies, back-end programming, software product management, marketing performance mechanisms, knowledge organization, and data-mining. With over 10 years of experience in product development, he's now excited about open protocols and believes we are in the middle of a paradigm shift.

Time-Stamped Show Notes:

  • [0:50]  Vignesh consider himself a protocol architect and he’s currently doing Lendroid, a decentralized digital asset lending protocol and platform.
  • [2:05]  Blockchain is a public ledger of all cryptocurrency transactions.
  • [4:17]  He was born in India and he wanted to be an entrepreneur.
  • [5:48]  Vignesh discovered Bitcoin in 2012.
  • [6:37]  He studied Mechanical Engineering in Dubai.
  • [7:23]  Moved to Canada to gain more networks and support system.
  • [8:30]  He worked in a project called Exchange where you can deposit your Bitcoin and allows you to buy other coins with Bitcoin and vice versa.
  • [9:30]  Canada has an Anti Money Laundering Policy that forced him to give up Exchange.
  • [10:40]  He found a team in Canada and co-founded Bitaccess, a Y Combinator backed Bitcoin ATM.
  • [11:42]  Bitaccess have 4 cofounders and he worked as a coder of the team.
  • [14:48]  Y Combinator invests $120,000 in a large number of startups.
  • [17:25]  He discovered Ethereum, another currency that has its own Blockchain and similar but is little advance than Bitcoin.
  • [18:10]  Left the company last December and started working on Lendroid.
  • [19:50]  “If it’s a bad company, you can shut it down. If it’s a great company, you want to do it. But if it’s an okay company, you are stuck.”
  • [22:47]  Lendroid is not a traditional company but it’s on the Blockchain.
  • [23:07]  He was working with Aragon, a company that provide tools to run a company on Ethereum.
  • [24:35]  Lendroid is a lending company that put lien to your Ethereum, Bitcoin or digital assets and give you funds so that you can get liquidity.
  • [30:27]  “It is hard if you don’t see your product working and it is harder if you see your product working and you are not making any money out of it.”
  • [33:57]  The company doesn’t have any existing competition yet.
  • [41:40]  “I would ask the entrepreneurs to think not just their country but the whole world as one place and go from there.”

Fabulous 4 Questions:

  1. 📖 📚 Favorite Book(s)? Sapiens: A Brief History of Humankind by Yuval Harari, The Hard Thing About Hard Things: Building a Business When There Are No Easy Answers by Ben Horowitz, & Ignited Minds by A.P.J. Abdul Kalam
  2. 🙌😎 Favorite Amazon.com purchase? JBL Pulse 2 Speaker
  3. 🌱💸 Favorite Tool that's GROWN your Business? Front
  4. 💭💡 BIGGEST Challenge keeping your Business from GROWING? Scaling the team.

Key Point from the Interview:

  • “It is hard if you don’t see your product working and it is harder if you see your product working and you are not making any money out of it.”

Resources Mentioned:

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