Steven

He eventually, at his end, committed suicide when he went broke for, I think, the fifth time. And in between there, he would become literally the richest man in the world at one point. But he had no ability to say, that's enough. So when he was the richest man in the world, he just kept taking more risk, more risk, more risk, and then it blew up.

And he did it over and over and over and over again until he eventually killed himself. It's an amazing story because punctuated through his story of failure and bankruptcy and eventual suicide is a level of success that Steve Jobs could not even fathom. No one in history, I think, was better at getting rich than he was. And he could not keep it. And

And he did it over and over and over and over again until he eventually killed himself. It's an amazing story because punctuated through his story of failure and bankruptcy and eventual suicide is a level of success that Steve Jobs could not even fathom. No one in history, I think, was better at getting rich than he was. And he could not keep it. And

For most people, like a much better situation, of course, is like you don't need to become the richest person in the world. You can just make a modest amount of money that's going to support you and your family, but keep it. Don't keep taking more risks that's eventually going to blow it up. Just keep it and it's okay.

For most people, like a much better situation, of course, is like you don't need to become the richest person in the world. You can just make a modest amount of money that's going to support you and your family, but keep it. Don't keep taking more risks that's eventually going to blow it up. Just keep it and it's okay.

I don't own any, so maybe that's the summary of how I feel about it. But I also think the only take that I've had on it is like, if you don't think that some of it is inspiring, then you're not paying attention. But if you don't think that 99% of it is a joke, then you're not paying attention. And I say that because most people are one or the other.

I don't own any, so maybe that's the summary of how I feel about it. But I also think the only take that I've had on it is like, if you don't think that some of it is inspiring, then you're not paying attention. But if you don't think that 99% of it is a joke, then you're not paying attention. And I say that because most people are one or the other.

They either think the whole thing is a scam and they don't understand any of it. It's a bubble. It's going to burst. Or it's literally the greatest invention of human history. And I think whenever there's a new technology, you're likely to get like those extreme, one of those camps.

They either think the whole thing is a scam and they don't understand any of it. It's a bubble. It's going to burst. Or it's literally the greatest invention of human history. And I think whenever there's a new technology, you're likely to get like those extreme, one of those camps.

But also in the history of technology, what you would see is that 99% of the new players, the new companies, the new products won't exist in 10 years. And a couple of them will turn into Ford or Microsoft or whatever it might be. That's always been the case. So you can't envision a world in 20 years in which crypto is not having a big part of the global economy.

But also in the history of technology, what you would see is that 99% of the new players, the new companies, the new products won't exist in 10 years. And a couple of them will turn into Ford or Microsoft or whatever it might be. That's always been the case. So you can't envision a world in 20 years in which crypto is not having a big part of the global economy.

And I also think you cannot envision a world in which in 20 years, 99% of what exists today doesn't exist anymore.

And I also think you cannot envision a world in which in 20 years, 99% of what exists today doesn't exist anymore.

It's not contradictory in history to say that this new technology will change the world forever. And at the same time, you're probably not going to make that much money on it. The best example of that were the railroads, which was probably the most transformational new industry in U.S. history.

It's not contradictory in history to say that this new technology will change the world forever. And at the same time, you're probably not going to make that much money on it. The best example of that were the railroads, which was probably the most transformational new industry in U.S. history.

Like to have a railroad going from the East Coast to the West Coast, that changed everything in such a profound way. And the vast majority of railroad investors lost all their money. So you could get it right. This is going to change the world forever. It does not mean that you're going to make that much money on it. And that's not to say that most crypto investors –

Like to have a railroad going from the East Coast to the West Coast, that changed everything in such a profound way. And the vast majority of railroad investors lost all their money. So you could get it right. This is going to change the world forever. It does not mean that you're going to make that much money on it. And that's not to say that most crypto investors –

No, actually, I would say it's almost certain that most crypto investors will not make that much money. That's pretty standard historical. The other thing is in cars, in the early 1900s, there were 2,000 car companies in America. And 1,997 of them went bankrupt. You ended up with GM, Ford, and Chrysler. The rest virtually disappeared.

No, actually, I would say it's almost certain that most crypto investors will not make that much money. That's pretty standard historical. The other thing is in cars, in the early 1900s, there were 2,000 car companies in America. And 1,997 of them went bankrupt. You ended up with GM, Ford, and Chrysler. The rest virtually disappeared.

So it's always the case that in a new technology that changes in the world, there's a big gap between this is going to change the world and everyone's going to get rich on this.