E172: @Saylor: Why Hard Work Won't Make You Rich Michael Saylor is the chairman of @Strategy - the world's largest corporate holder of Bitcoin with over 840,000 BTC and $65+ billion deployed. He bought his first Bitcoin in 2020 when the Fed cut rates to zero hasn't stopped since. With WSH, I always want to go much deeper than the current narrative and that’s exactly what we did here. We gradually moved past the surface and into the things that really shaped Michael. We talked about his childhood, growing up in a military family, buying domain names in the 1990s and flipping them for tens of millions, losing $6 billion of his net worth in a single day during the dot-com bubble, his great Apple bet in 2012, why working hard won't make you rich, why you should mortgage your house but probably not sell your kidney to buy BTC, why "THERE IS NO SECOND BEST", and a lot more. The conversation lasted more than two hours, much longer than originally planned, and it was just amazing. I hope you enjoy it as much as I did. Timestamps: 00:00 - Intro 03:05 - Explain what you do to an Uber driver 05:35 - Advice for Rick, the struggling Uber driver 07:07 - Who is Michael Saylor? 11:02 - Sponsors @Trezor & @Bitwise 11:48 - Kevin's Business Intelligence Company 13:14 - Michael's childhood and chip on the shoulder 17:56 - Has Michael conquered the world yet? 19:49 - Just because you can, doesn't mean you should 28:23 - Sponsors @KASTxyz & @sumsub 30:02 - Low time preference and scarcity 43:50 - Buying and flipping domain names for tens of millions 55:11 - Bitcoin is a lifeboat 1:01:31 - Should you mortage your house to buy Bitcoin? 1:09:50 - The great $60B in Bitcoin bet: risks 1:15:32 - Sponsors @JupiterExchange , @ethena 1:16:16 - Sell the kidney if you must but keep the Bitcoin 1:20:14 - What's the endgame for Strategy? 1:28:16 - Where does Bitcoin price end? 1:29:36 - Where would Bitcoin price be without Michael Saylor? 1:31:06 - What is STRC? 1:35:34 - Should my mom put her life savings in STRC? 1:37:12 - How do you always invent new ways to buy more Bitcoin? 1:49:19 - From God to Madman every 6 months: handling insane volatility 1:51:49 - How Michael lost $6 Billion of his net worth in one single day in 2000 and then watched MSTR go down another 99% 1:59:09 - Why Michael doesn't have children 1:59:44 - Why working hard is the worst advice you can get 2:07:37 - Why THERE IS NO SECOND BEST, there is only one crypto asset 2:15:03 - Thanking Michael from the whole crypto industry