Michael Saylor
👤 SpeakerAppearances Over Time
Podcast Appearances
You know, Patrick, when you look at generations, you know, when you're in your 20s, you know, you have a lot of time on your hands and you want respect and you want prosperity. You want to make it in life. I need to make money so I can buy a house, have a family, buy a car, do whatever I want. And so you take your time and you invest it in making money.
That's why the millennials, the Gen Zs, they get crypto, they get Bitcoin, because they have 100 hours or 200 hours or 1,000 hours. Now, when you get in your 60s or 70s, 80s, how many people past the age of 55 spend 100 hours studying a profoundly new investment idea to figure out?
That's why the millennials, the Gen Zs, they get crypto, they get Bitcoin, because they have 100 hours or 200 hours or 1,000 hours. Now, when you get in your 60s or 70s, 80s, how many people past the age of 55 spend 100 hours studying a profoundly new investment idea to figure out?
Very rarely. Very rarely.
Very rarely. Very rarely.
It's because you've already made it. You already got a family. If you're going to have kids and a family and a house and a whatever, you've already done it. And you did it by exercising your trade because you are good at something and you're confident and that's your worldview, like Warren Buffett's worldview, et cetera. So I don't blame people.
It's because you've already made it. You already got a family. If you're going to have kids and a family and a house and a whatever, you've already done it. And you did it by exercising your trade because you are good at something and you're confident and that's your worldview, like Warren Buffett's worldview, et cetera. So I don't blame people.
It's just when you're successful at the end of your life, you know, you know what made you successful. You don't have a need to know. When you're at the beginning of your life, you're not successful. You've got no respect. You've got no future. You better find something new, right?
It's just when you're successful at the end of your life, you know, you know what made you successful. You don't have a need to know. When you're at the beginning of your life, you're not successful. You've got no respect. You've got no future. You better find something new, right?
That's why Led Zeppelin, you know, they picked up electric guitars and they played rock and roll because Beethoven and Mozart had already done the other thing. too late for that new thing, right? The new people get the new thing. And so occasionally you find a 30, 40, 50, 60 year old who will embrace the new idea, but it's like, what is it?
That's why Led Zeppelin, you know, they picked up electric guitars and they played rock and roll because Beethoven and Mozart had already done the other thing. too late for that new thing, right? The new people get the new thing. And so occasionally you find a 30, 40, 50, 60 year old who will embrace the new idea, but it's like, what is it?
You have to be profoundly, you know, intellectually curious, right? Larry Fink is. That's why BlackRock is going to make a fortune on this. Or you have to be desperate, frustrated, nothing to lose. I mean, the truth is I'd characterize myself that way in 2020. It's like the stock is like $6 a share enterprise value. The company's enterprise value is $6 a share.
You have to be profoundly, you know, intellectually curious, right? Larry Fink is. That's why BlackRock is going to make a fortune on this. Or you have to be desperate, frustrated, nothing to lose. I mean, the truth is I'd characterize myself that way in 2020. It's like the stock is like $6 a share enterprise value. The company's enterprise value is $6 a share.
And my choice is sell the company and retire forever. or take a risk and open my mind. And I remember I'm sitting at my pool side next to my friend, Eric Weiss, and it's March and the lockdowns hit and interest rates go to zero and, you know, and the stock market's crashing and, you know, and all hell is breaking loose. And I say, so tell me about that Bitcoin thing again.
And my choice is sell the company and retire forever. or take a risk and open my mind. And I remember I'm sitting at my pool side next to my friend, Eric Weiss, and it's March and the lockdowns hit and interest rates go to zero and, you know, and the stock market's crashing and, you know, and all hell is breaking loose. And I say, so tell me about that Bitcoin thing again.
It's like, so that's what you'll find when, you know, you look at people and they're one or the other, but it takes a while for a paradigm shift. You know, you got to really need it or want it. And that's why it's an exponential process.
It's like, so that's what you'll find when, you know, you look at people and they're one or the other, but it takes a while for a paradigm shift. You know, you got to really need it or want it. And that's why it's an exponential process.
So you're sitting there in 2020 and he said, tell me about that Bitcoin again with Eric Weiss.
So you're sitting there in 2020 and he said, tell me about that Bitcoin again with Eric Weiss.
Yeah.