On Tuesday, Coinbase Global Inc. (NASDAQ:COIN) CEO Brian Armstrong urged companies to rethink how innovation is approved, arguing that a single "yes" can be more powerful than layers of consensus.

Apple Origin Story Inspires Coinbase's Innovation Playbook

Armstrong pointed to Steve Wozniak's early experience at Hewlett-Packard, where his idea for a personal computer was rejected.

Wozniak later went on to co-found Apple Inc. (NASDAQ:AAPL), turning that rejected concept into one of the most valuable companies in the world.

Apple currently has a market cap of $3.80 trillion, making it the second most valuable company after Nvidia Corp (NASDAQ:NVDA).

"It's a lesson for leaders: one ‘no' shouldn’t kill a contrarian but right idea in your company," Armstrong said.

‘You Need One Yes': Inside Coinbase's Pitch Model

At Coinbase, Armstrong said innovation is structured more like venture capital investing.

"Twice a year at Coinbase, anyone in the company can pitch a ‘next bet,'" he said. These pitches are evaluated by a panel, and "if you get any one of them to say yes and fund it, you’re green lit."

The approach removes the need for unanimous approval across management layers, which Armstrong described as a "de facto committee" that can slow decision-making.

Small Teams, Fast Decisions, Measured Risk

Most approved ideas are assigned lean teams of two to three people and limited resources. Projects are evaluated against clear performance benchmarks, with unsuccessful ones shut down quickly and promising ideas scaled into full products.

Armstrong added that while additional guardrails exist around funding and timelines, the core philosophy remains simple: "You need ONE yes, not a unanimous yes."

The strategy, he suggested, is key to building companies capable of repeatable innovation.

Coinbase Secures OCC Nod, Flags Policy Concerns, Misses Revenue Estimates

Coinbase, earlier this month, secured conditional approval from the Office of the Comptroller of the Currency to establish a federally chartered national trust company.

At the time, Coinbase stated that it is not becoming a "commercial bank" and does not plan to accept retail deposits or participate in fractional reserve banking.

In January, Coinbase pulled its backing for the cryptocurrency market structure bill, citing a provision that would bar platforms from offering rewards on idle stablecoin balances.

In February, Coinbase posted fourth-quarter revenue of $1.78 billion, a 5% decline from the prior quarter, falling short of the $1.85 billion Street consensus estimate.

Price Action: Coinbase shares closed at $174.79 on Monday, up 1.94% and slipped 0.72% to $173.53 in after-hours trading, according to Benzinga Pro.

COIN stock trailed across short, mid and long-term performance metrics, while its Growth score ranked in the 68th percentile, according to Benzinga's Edge Stock Rankings.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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