Michael Rubin
👤 PersonAppearances Over Time
Podcast Appearances
But like work hard, play hard. Like I always want to push that on her.
But like work hard, play hard. Like I always want to push that on her.
And by the way, Camille, who I have two daughters with, my 3- and 5-year-old, she's like the sweetest mom in the world. So it's going to be balanced. She's like the nice, super supportive. I'm just like push, push, push.
And by the way, Camille, who I have two daughters with, my 3- and 5-year-old, she's like the sweetest mom in the world. So it's going to be balanced. She's like the nice, super supportive. I'm just like push, push, push.
And by the way, Camille, who I have two daughters with, my 3- and 5-year-old, she's like the sweetest mom in the world. So it's going to be balanced. She's like the nice, super supportive. I'm just like push, push, push.
And she's definitely the sweet one, and I'm definitely the one that's always pushing, so it's a good combination.
And she's definitely the sweet one, and I'm definitely the one that's always pushing, so it's a good combination.
And she's definitely the sweet one, and I'm definitely the one that's always pushing, so it's a good combination.
Yeah, I could give you a couple great examples. So probably the scariest moment in my modern life was the financial crisis of 2008, 2009. And... My company, a year earlier, was worth about $2, $2.5 billion. When the stock market crashed, even though our business was doing pretty well, our stock went down by 90%. So I had about a 10% stake in the company.
Yeah, I could give you a couple great examples. So probably the scariest moment in my modern life was the financial crisis of 2008, 2009. And... My company, a year earlier, was worth about $2, $2.5 billion. When the stock market crashed, even though our business was doing pretty well, our stock went down by 90%. So I had about a 10% stake in the company.
Yeah, I could give you a couple great examples. So probably the scariest moment in my modern life was the financial crisis of 2008, 2009. And... My company, a year earlier, was worth about $2, $2.5 billion. When the stock market crashed, even though our business was doing pretty well, our stock went down by 90%. So I had about a 10% stake in the company.
And my stake went from being worth about $250 million to being worth about $25 million. Well, the problem was I owed a bank $50 million. Okay? So if you only have $25 million, you owe a bank $50 million, you're pretty fucked. Okay? And... The, you know, I was using that money to kind of, you know, borrow against and invest in other things.
And my stake went from being worth about $250 million to being worth about $25 million. Well, the problem was I owed a bank $50 million. Okay? So if you only have $25 million, you owe a bank $50 million, you're pretty fucked. Okay? And... The, you know, I was using that money to kind of, you know, borrow against and invest in other things.
And my stake went from being worth about $250 million to being worth about $25 million. Well, the problem was I owed a bank $50 million. Okay? So if you only have $25 million, you owe a bank $50 million, you're pretty fucked. Okay? And... The, you know, I was using that money to kind of, you know, borrow against and invest in other things.
That was kind of how I was living, you know, because I didn't want to pay myself anything for my company. I worked for virtually nothing. Anyway, stock kept going down. I kept getting something called a margin call. So the bank says either you pay me back or we're going to sell your assets. And so I got it down to $3 million. And I could not get another penny.
That was kind of how I was living, you know, because I didn't want to pay myself anything for my company. I worked for virtually nothing. Anyway, stock kept going down. I kept getting something called a margin call. So the bank says either you pay me back or we're going to sell your assets. And so I got it down to $3 million. And I could not get another penny.
That was kind of how I was living, you know, because I didn't want to pay myself anything for my company. I worked for virtually nothing. Anyway, stock kept going down. I kept getting something called a margin call. So the bank says either you pay me back or we're going to sell your assets. And so I got it down to $3 million. And I could not get another penny.
The bank said, we're going to sell all of your stock. Well, there was a guy who had lent me... Sorry, there was a guy who I had invested $3 million in his fund like five years earlier. And I called the guy 50 times for the money back. Like every day, like, man, I need this money.
The bank said, we're going to sell all of your stock. Well, there was a guy who had lent me... Sorry, there was a guy who I had invested $3 million in his fund like five years earlier. And I called the guy 50 times for the money back. Like every day, like, man, I need this money.
The bank said, we're going to sell all of your stock. Well, there was a guy who had lent me... Sorry, there was a guy who I had invested $3 million in his fund like five years earlier. And I called the guy 50 times for the money back. Like every day, like, man, I need this money.