Michael Saylor

Once he asked everybody, if you want to sell stocks, you've got to come to New York to get registered and all this stuff. Nobody showed up. He says, you know what? You can't sell moving forward if you don't do fingerprinting, and you've got to come to New York. That's the story she's telling us. Till today, we did fingerprinting because you were controlling money.

What the hell are we doing fingerprinting for today? For getting job applications or applications to fill out the client account form? It's a very outdated system the SEC is. And it'll be interesting to see what Trump's going to do with this. He said day one firing. It'll be, again, we have a few days till day one. I'm curious to know who he replaces him with.

What the hell are we doing fingerprinting for today? For getting job applications or applications to fill out the client account form? It's a very outdated system the SEC is. And it'll be interesting to see what Trump's going to do with this. He said day one firing. It'll be, again, we have a few days till day one. I'm curious to know who he replaces him with.

I think it's constructive to note that my company came public in 1998. And in 1998, our stock could trade on NASDAQ from 9.30 in the morning till 4 in the afternoon with banker's hours and not on holidays. And in the 26 years that have followed, there's not been a single functional upgrade. Like there's not one innovation.

I think it's constructive to note that my company came public in 1998. And in 1998, our stock could trade on NASDAQ from 9.30 in the morning till 4 in the afternoon with banker's hours and not on holidays. And in the 26 years that have followed, there's not been a single functional upgrade. Like there's not one innovation.

Like you would think after 26 years of infinite money that we would figure out how to trade the stock on Saturday at 4 p.m. No, right? So what you have is you have a 20th century, what I'll call antiquated oligopoly that's reinforced by a regulatory regime where, I'll give you another example. You own a bunch of Apple stock. You don't really own it. You can't take custody. It's like your bank,

Like you would think after 26 years of infinite money that we would figure out how to trade the stock on Saturday at 4 p.m. No, right? So what you have is you have a 20th century, what I'll call antiquated oligopoly that's reinforced by a regulatory regime where, I'll give you another example. You own a bunch of Apple stock. You don't really own it. You can't take custody. It's like your bank,

JP Morgan or Morgan Stanley has it. They might lend it out, but you can't just take custody. And so the idea of self-custody, the idea of freedom, the idea of an open competitive... What if someone in Singapore offered you 3% yield on your Apple stock? How do I pull it out of the bank, send it to them? Oh, there's like one monopoly network that moves the stock around.

JP Morgan or Morgan Stanley has it. They might lend it out, but you can't just take custody. And so the idea of self-custody, the idea of freedom, the idea of an open competitive... What if someone in Singapore offered you 3% yield on your Apple stock? How do I pull it out of the bank, send it to them? Oh, there's like one monopoly network that moves the stock around.

So we have a system which made sense in the 20th century maybe, but the point with Rothbard is it was always about restraint of trade. It was to create a cartel and to centralize power, centralize access to the capital markets to just a small set of big companies. They were locking out the entrepreneurial bankers and the entrepreneurs in 1933.

So we have a system which made sense in the 20th century maybe, but the point with Rothbard is it was always about restraint of trade. It was to create a cartel and to centralize power, centralize access to the capital markets to just a small set of big companies. They were locking out the entrepreneurial bankers and the entrepreneurs in 1933.

It's just been turning of the screws to make it harder and harder. And the elephant in the room is if there's 400 million companies in the world, how come there's only 40,000 publicly traded ones? And when you're publicly traded, how come you're not publicly traded on Saturday night? What's unethical? What's unethical about wanting to take custody of my own property?

It's just been turning of the screws to make it harder and harder. And the elephant in the room is if there's 400 million companies in the world, how come there's only 40,000 publicly traded ones? And when you're publicly traded, how come you're not publicly traded on Saturday night? What's unethical? What's unethical about wanting to take custody of my own property?

I think that's coming. I think that's coming. I mean, think about what happened with New York Stock Exchange and NASDAQ. And you're looking at what Texas Stock Exchange is doing. We're not going to go by the DEI and all the ESG bullshit that you guys are doing. Here's how it works. Come on in. It's all about profits, growing a business, et cetera, et cetera.

I think that's coming. I think that's coming. I mean, think about what happened with New York Stock Exchange and NASDAQ. And you're looking at what Texas Stock Exchange is doing. We're not going to go by the DEI and all the ESG bullshit that you guys are doing. Here's how it works. Come on in. It's all about profits, growing a business, et cetera, et cetera.

And obviously we'll see what's going to happen with it. I think disruption's coming. They no longer have a choice. They can try to play as many games as they want to. But Rob, I want to play a couple other clips and then we'll wrap up. We're at 350. We'll finish up in five minutes. Here's a clip on when it was Bitcoin a few years ago. Remember, young guys watch stuff all the time.

And obviously we'll see what's going to happen with it. I think disruption's coming. They no longer have a choice. They can try to play as many games as they want to. But Rob, I want to play a couple other clips and then we'll wrap up. We're at 350. We'll finish up in five minutes. Here's a clip on when it was Bitcoin a few years ago. Remember, young guys watch stuff all the time.

Here's Dan Pena, who amongst the young, he's gone viral many times. Here's what he said about Bitcoin one time. Rob, if you want to play this.

Here's Dan Pena, who amongst the young, he's gone viral many times. Here's what he said about Bitcoin one time. Rob, if you want to play this.

This is why we're protective of Satoshi, because people say this stuff in order to attack the network. And it's like me saying, you know, I know who founded your religion. And as soon as I let it out to the general public, people will realize you're living a lie.