The rise (and fall?) of the Winklevoss twins, the story of Harvard, Mark Zuckerberg, and Facebook

"Mark Zuckerberg stole Facebook, so they sued him, for $65Million. Now they are crypto billionaires.

6 Lessons from the Winklevoss twins:

Let's start with betrayal

In 2004, two Harvard twins had an idea for a social network and hired a coding genius named Mark Zuckerberg to build it.

Later, Facebook launched. But the twins weren't part of it.

Furious, they sue Zuckerberg. Meanwhile, Facebook has exploded in popularity.

In 2008 (after a 4-year lawsuit), the twins settled for $65 million -$20 million cash and $45 million in Facebook stock.

Here's where it gets interesting:

The twins held onto that Facebook stock.

By Facebook's 2012 IPO, their $45 million in stock grew to$200 million.

Their """"enemy's"""" success became their windfall.

In 2013, the twins heard about Bitcoin. Price at the time? Just $8 per coin.

They spent months researching - and concluded: This would be bigger than Facebook.

So they made a bold move and bought 1% ALL Bitcoin in circulation. Cost: $11 million Amount: 120,000 BTC

People called them crazy. But their bet was on the financial revolution...

They believed it could transform finance. But owning Bitcoin wasn't enough:

In 2015 crypto was like the Wild West - risky and unregulated.

So they launched Gemini, a regulated crypto exchange.

Gemini brought trust to the crypto world.

It followed the rules, insured deposits, and kept everything secure.

The twins became Bitcoin's biggest fans, speaking at events & teaching people about it.

Why? More people using Bitcoin = rising value. Here are the numbers:

By 2017, Bitcoin's price hit $20,000.

Remember their $11 million investment? It was now worth$1.3 billion.

They invested even MORE in the crypto world, expanding globally & pushing for crypto adoption.

2020 hit. COVID spread. Governments printed trillions of dollars.

People started seeing Bitcoin as """"digital gold"""" - a way to protect wealth in uncertainty. By 2021, Bitcoin crossed $60,000.

The twins' crypto empire was now worth billions.

Today, they're still working to make crypto mainstream: • Making Gemini easier to use • Pushing for clear crypto laws • Investing in the next big blockchain ideas

But the Winklevoss story is a masterclass in turning setbacks into opportunities:

Use rejection as a redirector

Facebook's door closed, but it opened a window to a billion-dollar crypto future. Sometimes, your rival's success can fuel your own.

Spot trends early, then go all-in

The twins didn't just buy Bitcoin; they built an entire ecosystem around it.

Educate your market

By teaching others about crypto, the twins grew the industry - and their influence...

Stay curious about emerging trends

It could be the next goldmine.

Don't let NO stop you. Let it fuel you. Remember: today's setback might redirect you to tomorrow's billion-dollar idea.

This fascinating story was composed by Max Yamp "

Author

Ai Backbone Network (ABN), ABN ASIA was founded by people with deep roots in academia, with work experience in the US, Holland, Hungary, Japan, South Korea, Singapore, and Vietnam. ABN Asia is where academia and technology meet opportunity. With our cutting-edge solutions and competent software development services, we're helping businesses level up and take on the global scene. Our commitment: Faster. Better. More reliable. In most cases: Cheaper as well.

Feel free to reach out to us whenever you require IT services, digital consulting, off-the-shelf software solutions, or if you'd like to send us requests for proposals (RFPs). You can contact us at [email protected]. We're ready to assist you with all your technology needs.

© ABN ASIA