YouSaid · the spoken record

Eric Weiss

lines on the record: 80
first: 2022-04-20
most recent: 2022-04-20
sittings or episodes: 1
sources: podcast

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“Loved having you there. It was great. Thank you so much for having me on your pod. It's like surreal to be like on the pod that I watch. It's just”
2022-04-20 · We Study Billionaires · BTC074: Bitcoin is Property w/ Eric Weiss (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“You need to download. I'm going to download that as soon as we're done. I mean, I had a lot of catching up to do with Sailor, so I actually found an international master in Siberia. And I was taking lessons on Skype. For like the first two years. Just to learn how to play the openings, theory, anything. And so then I got to a level where we were like competitive. Like the truth is, I'm not trying to be the best in the world. I just want us to have a healthy distraction. And it's good when we're about the same level. So I'm downloading that app and give a shit.”
2022-04-20 · We Study Billionaires · BTC074: Bitcoin is Property w/ Eric Weiss (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“What is that? I go, what is that? And our friend Ray is standing there, and he just looks at me and goes, like, it's a thing. I didn't even know the rules, you know, so.”
2022-04-20 · We Study Billionaires · BTC074: Bitcoin is Property w/ Eric Weiss (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Same thing. I think it was actually three years ago, just before, yeah, no, actually it's four years ago now, and the first time Saylor and I are playing or playing at his outside board at his house. And his paw, like I moved my pawn. And he kicks my pawn off the board and he looks at me and he goes en passant. And I go.”
2022-04-20 · We Study Billionaires · BTC074: Bitcoin is Property w/ Eric Weiss (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“And it would be steak, by the way. I mean, we played some marathon games. I mean, one little anecdotal story. We flew back from New York recently and we were playing a game on the plane. And then we got off the plane and we continued the game in the car to the house. And then it was already like nighttime. And we kept, and then we were playing on an iPad. And then we set up the game from the iPad on a real board and played on the board. And it ended up being like, it started as a way to pass the flight and it ended up being like, you know, three or four hour game.”
2022-04-20 · We Study Billionaires · BTC074: Bitcoin is Property w/ Eric Weiss (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“I mean, you could probably put a, I mean, I don't think I have anything to do with that. Seller eating dinner would probably get a million downloads.”
2022-04-20 · We Study Billionaires · BTC074: Bitcoin is Property w/ Eric Weiss (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“We have not I don't want to play Jack, man. That'd just be a bad. The difference between someone his level and like, you know, someone my level is...”
2022-04-20 · We Study Billionaires · BTC074: Bitcoin is Property w/ Eric Weiss (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, he's legit. He's legit. But Sailor and I are about the same level, which is good because the outcome is not certain when we start. And it's a game that we like because it requires so much focus that it's tough to turn off your brain from our world because obviously Bitcoin never stops. So you can always be checking something or Twitter never stops or whatever. Like there's always stuff to pay attention to. We like the fact that chess is kind of all consuming and you need to focus or you're going to lose.”
2022-04-20 · We Study Billionaires · BTC074: Bitcoin is Property w/ Eric Weiss (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Recommendation stuff. I mean, Atlas shrugged, I think, is, you know, when I read it after college, it instantly became my favorite book. And then I actually read it a second time, but I read it as a fiction book that aligned with the beliefs that I had that I wasn't really able to articulate at that time. And fast forward to today, it's absolutely frightening how we see reality trending in this direction. I think it's a book that's more relevant now than it's ever been and is certainly worth reading if people haven't. Something fun about myself. I don't know, it was just fun. Saylor and I play a lot of chess.”
2022-04-20 · We Study Billionaires · BTC074: Bitcoin is Property w/ Eric Weiss (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Then they see what happens in Ukraine, right? And Russia, and they see that we're just countries have just decided they're going to seize oligarch stuff because they're a country of origin as Russia and the US isn't at war with Russia and these people didn't have any due process. But we're going to take their stuff anyway, you know. But like, okay, but these are smart people. They got rich because they're smart in most cases. And it's like, well, I'm a rich American. What happens if my yacht is in a country that isn't the US and that government just decides they're going to take my yacht or my house in another country, right? And they just decide to seize that or my money in a bank in this other country. How do I know that doesn't get seized or my goal? So they're starting to open their minds to the censorship resistant can't be taken away kind of thing.”
2022-04-20 · We Study Billionaires · BTC074: Bitcoin is Property w/ Eric Weiss (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“That was huge for explaining. Most of the high net worth individuals that I talked to are living in first world country, primarily the US. And it's like, this doesn't have any value proposition for me, dude. Like, my money's safe in the bank. I don't give a crap about this. You know, I get why maybe somebody in Venezuela or Argentina needs this, but I don't need this. Then they see what happened in Canada.”
2022-04-20 · We Study Billionaires · BTC074: Bitcoin is Property w/ Eric Weiss (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, but we have a better solution. It's not fantasy. It's here. Like you could do it right now. Like, why don't you just do it? It was really, so that's coming. And, you know, those are the conversations that you have with the family offices. And they're not living in a bubble. They're not these stuffy old people in suits. They're, you know, just normal people curious about what's all this talk about. But I also have to say that recently what's been most helpful is the geopolitical events. Being able to talk about what happened in Canada with the truckers.”
2022-04-20 · We Study Billionaires · BTC074: Bitcoin is Property w/ Eric Weiss (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“They do. It's not a burden, right? Yeah. And so, yeah, yeah, dinner with the guy recently was like, you know, young programmer out of Stanford graduate degree. And he's like, his question to me was, I just don't understand traditional finance. I'm like, what do you mean? He's like, I just don't understand bank wires. He's like, we had to do it the other day. I don't know why anyone would use it. There was all kinds of people involved in permissions and it still took a whole lot of time and then we didn't get in before a wire went down. He's like, why does the wire go down? Where's it going? Like I don't get it. He just didn't understand why we use this stuff.”
2022-04-20 · We Study Billionaires · BTC074: Bitcoin is Property w/ Eric Weiss (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“They're coming. They were born with an iPad in their hand. And they don't care that you can't touch it like a gold bar. They like that they can zip it around and buy stuff in the video game with it and everything else. They can't.”
2022-04-20 · We Study Billionaires · BTC074: Bitcoin is Property w/ Eric Weiss (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Stronger, right? Like harder, no dilution, relatively speaking. I mean, it's easily a better digital gold. And even if that individual doesn't want to accept that a digital gold, they'll probably accept that their children view it as a digital gold. So it doesn't matter if you don't get it as long as you can see that the younger generation gets it. And there's more of them that keep coming. There's people who are, you know, with money now who are born with it.”
2022-04-20 · We Study Billionaires · BTC074: Bitcoin is Property w/ Eric Weiss (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“And that's the key. And starting to pay attention to it and not being intimidated by it and feeling comfortable with it, that's the key. So I think that's good advice that you're giving. It also helps demystify it, right? But I think it's really good constructive advice. And the other thing that I use is it's hard for people to envision the grand vision, but it's a lot easier for them to envision maybe this is a digital gold. And if you can envision that it's a digital gold, then you can envision it going from 40,000 to 600,000, right? To get to that 12 trillion, right? So if we can get people to just adopt the digital gold and gold's an easy comparison, right? It crushes gold in every possible way from movement, storage.”
2022-04-20 · We Study Billionaires · BTC074: Bitcoin is Property w/ Eric Weiss (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Sure. So back in the day, Pomp used to have a phrase like, I think it's probably like 2016-ish time frame. Pomp used to have a phrase where we would be at the same events and stuff and he would get off zero, just get off zero was the phrase that I wish he would bring it back because unfortunately it's still relevant. But when someone gets off zero and they buy that 1%, they start to pay attention to it.”
2022-04-20 · We Study Billionaires · BTC074: Bitcoin is Property w/ Eric Weiss (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Right. But back to my point before. We need to allow everybody to progress. Bashing Janet Yellen, calling her an idiot. Doesn't get her from there to here. Education does being constructive does. Cheerful and constructive. And let's move people along because at the end of the day, we want this thing to be for everybody and we don't get there by alienating people, right? We all said no before we said yes.”
2022-04-20 · We Study Billionaires · BTC074: Bitcoin is Property w/ Eric Weiss (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Whoa, right? That's not we're going to outlaw Bitcoin. And people, Janet Yellen's sharp lady. I mean, he was a very smart person. I don't know. It sounds like...”
2022-04-20 · We Study Billionaires · BTC074: Bitcoin is Property w/ Eric Weiss (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“I think that's changing pretty drastically here with Janet. Yellen said the other day, that was a massive, massive thing for her to say like Satoshi's innovation is real.”
2022-04-20 · We Study Billionaires · BTC074: Bitcoin is Property w/ Eric Weiss (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“A good question. I don't know that I have like a US dollar figure number that's coming. I think it's more a matter of as high profile individuals stand up and say, I own this, I believe in this, I support this, you'll see family offices, welded people, when it's someone they respect, they start to move over. They bank with Goldman Sachs, when Goldman Sachs says, yeah, we think a 5% allocation to Bitcoin is prudent. They're not even, they're price agnostic. It's like, okay, take 5% of my portfolio and put it in Bitcoin. Not what's the price of Bitcoin? It's an allocation, right? So I think as the individuals and institutions that these people respect start to go, they'll start. No one wants to be first. It still feels like first.”
2022-04-20 · We Study Billionaires · BTC074: Bitcoin is Property w/ Eric Weiss (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“The US government doesn't want to touch that, but they do want to proliferate the dollar. Stablecoins can do that. The current paradigm we have is the banks issue the money anyway. They need to give the banks a reason to exist. So they keep them in the framework. They keep them in their traditional role by saying, okay, you guys issue stablecoins. It's going to take them a while to get there. They're not there yet. And then it'll be really interesting to see, well, you know, is it going to be real agnostic? Will it run on ETH? Will it run on Bitcoin? You know, like that'll be super interesting. I'm sure it'll be agnostic. But interesting questions that need to be answered, right? But in the meantime, we've got all the private company, the private sector is, you know, saying we're not waiting for you. There's tremendous demand for US dollar stable coins. So we're going to spit them out algorithmically or backed or otherwise.”
2022-04-20 · We Study Billionaires · BTC074: Bitcoin is Property w/ Eric Weiss (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“It appears to me that the US government is saying that they don't have an interest in doing a digital dollar. It seems that what they want to do is they want to have US dollar stablecoin that gets issued by FDIC insured banks, right? And they've laid out the criteria of what the banks will have to do in order to issue the stablecoins. Having a central bank digital currency in the United States would be a sticky wicket, right? Look at the reaction from in Congress when the government wanted to trace every transaction $600 or more. So with a CBDC, obviously they couldn't help but know every single transaction that everyone does. There's a lot of control issues there. We don't like you. We don't like what you said. We're just going to delete your wallet kind of thing or freeze it or whatever. So I think that maybe.”
2022-04-20 · We Study Billionaires · BTC074: Bitcoin is Property w/ Eric Weiss (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“But basically, if we can do that, which I'm told is completely possible and very doable, and I think, according to Junset, that's already been done in the past or something. So it's not fantasy. But the beauty of that is the killer app might be having a non-custodial wallet on your phone that has the Bitcoin savings account, right? So you keep all your money in Bitcoin. And then when you need to transact, you have a USD or euro or whatever digital wand, stablecoin account in there as well, like your checking account and you're buying something for $10, you take $10 of Bitcoin, transfer it over to your stable coin side and pay in $10 a stable coin. So you kind of have that savings account checking account thing. And I think that might be one of the true killer apps.”
2022-04-20 · We Study Billionaires · BTC074: Bitcoin is Property w/ Eric Weiss (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“I think that's a huge thing. By the way, Junseth kind of explained to me how lightning can be used for stable coins. I can't say that I fully understood his explanation. I certainly didn't understand it well enough to share with you, but you should chat with him about it because he definitely gets it. But I think what's that may be the killer app. Being able to move stablecoin on Lightning, I think maybe the killer app because”
2022-04-20 · We Study Billionaires · BTC074: Bitcoin is Property w/ Eric Weiss (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“There is a spectrum, though. There's a viable, legitimate narrative that says security is important, right? And Bitcoin, I would say, is the apex predator and the secure side, right? I don't think we have any competition from a security point of view. But there's a spectrum where people say, well, if we gave up a little bit of security and we could have a little more centralization and therefore get a little more efficiency, you know, does that have some value? And so they'll move along that curve and they'll have that discussion. And you hear the, you know, like the VCs talk about this and they'll try to weigh what's the And that's fine. That's a legitimate discussion. But for me, the ultimate value is in that security and sending your wealth 100 years into the future.”
2022-04-20 · We Study Billionaires · BTC074: Bitcoin is Property w/ Eric Weiss (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“You know, if you're a sensibly centralized, like I think Ethereum basically is, it's like, how else do you just say, well, we're going to push it out? And so I think that Ethereum's got competition problems. And then, by the way, if they switch to proof of stake, they might actually have security problems too, because then it starts to look a lot more centralized in my mind. But anyway, so I think that's just a very competitive environment, people not wanting to pay $100 for a transaction and do 15 transactions a second on Ethereum when Solana can do 50,000 transactions a second for fractions of a penny in transaction fees. They've got competition and it'll be based on developer talent and where the money goes, et cetera. But I don't view that as competition to Bitcoin. I don't think they're competing to be a store of value.”
2022-04-20 · We Study Billionaires · BTC074: Bitcoin is Property w/ Eric Weiss (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“That's the multi-trillion dollar question. I mean, Bitcoin benefits from having a very simple value proposition and not a lot of moving parts. Ethereum is a bit of like Rube Kohlberg device, right? Like there are a lot of things going on there. They're getting tremendous competition from other chain, Solana and others. I mean,”
2022-04-20 · We Study Billionaires · BTC074: Bitcoin is Property w/ Eric Weiss (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“I have no idea. I don't bother to parse. I really don't. There's a lot of crap out there. And so that's another segment. And then there's this segment in the middle. And this segment in the middle of DeFi and NFTs and smart chains and central, you know, like all kinds of really cool technological things. I view that as kind of liquid venture capital. So it's kind of like an equity market. Like that's equities. That's liquid venture capital. Companies doing cool stuff, right? in this new digital asset world is probably like you know the true base layer of value in this digital economy but they're going to be cool bells and whistles and smart contracts and nfts and other things and maybe metaverse stuff or whatever i don't hate them i don't think they're all evil i think it's just uh you know Liquid venture capital in a new world.”
2022-04-20 · We Study Billionaires · BTC074: Bitcoin is Property w/ Eric Weiss (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Accounts like our market is hundreds of trillions that we're going after, right? And then you've got actual scams, you've got actual things in there that are dishonest, pump and dump, pieces of crap that are barely analogous to a casino.”
2022-04-20 · We Study Billionaires · BTC074: Bitcoin is Property w/ Eric Weiss (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“So I view all of digital assets, all crypto assets. I think of it in different segments. So right now we all get painted with the same brush, right? Crypto. And we all love to say Bitcoin and not crypto, right? But there's a whole outside world there that's a lot bigger than just the Bitcoin world. And we need to try to help shape their perspective in a constructive way. And the way I view it is Bitcoin is seeking to be a digital property, digital store of value, digital gold, right? And nothing else in the digital asset class is a viable competitor to that. The market that Bitcoin is going after is massive, right? We're talking gold, we're talking all of $100 trillion worth of low-yielding sovereign debt, $17 trillion of negative yielding sovereign debt savings accounting.”
2022-04-20 · We Study Billionaires · BTC074: Bitcoin is Property w/ Eric Weiss (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Because there's no centralization, because there's no company, because there are no marketing team or marketing budget or ambassadors, I think all of us feel an obligation to scream the truth as loudly as we can. And that's why the more credible folks that we can recruit to the space who have a megaphone who feel the way that we feel in our objective, that's what we need is credible sources. And I think we've done a great job of that. And I think that going back to kind of the government officials, I mean, Gensler's kind of right up there, I think. I mean, he's on our side.”
2022-04-20 · We Study Billionaires · BTC074: Bitcoin is Property w/ Eric Weiss (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“And we've got kind of this environment, especially with social media and all the ESG kind of perspective globally that it's catching on. The first level is malicious. The second level is ignorant people who care about the environment, who are taking this and running with it and just saying, here's my data, here's my research, and you're bad, right? And so it is a problem. Ethical research, honest research, good reporting. And I feel like the tide is starting to turn there now. And so it went from it, it looks like it's going to go from you're not green enough to, well, you're using too much energy. You shouldn't be using energy at all. You should be doing proof of stake. And it's just going to, they're going to keep coming up with something new. And we're going to keep having to shoot it down with facts.”
2022-04-20 · We Study Billionaires · BTC074: Bitcoin is Property w/ Eric Weiss (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“I absolutely think it's malicious. I don't think that the generation of the FUD is malicious and there are someone or some group of people behind it that are literally bribing journalists, bribing Greenpeace, bribing others with this narrative, and they're funding research, just like any funded research is going to deliver the results you want, right? Like the tobacco industry, the Greenpeace, whatever. It's like, I'll give you $5 million because Bitcoin's bad, but we need you to really make the case that Bitcoin's bad. Okay, we want the $5 million. We're happy to do it, right? So I think that the FUD and the data is all manufactured. The problem is the folks that are doing it are very good at it.”
2022-04-20 · We Study Billionaires · BTC074: Bitcoin is Property w/ Eric Weiss (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“But Bill Gates was his best friend for a long time, and he never invested in Microsoft. And he was asked about that. And he just said, you know, I just don't understand it. He's like, I understand Coca-Cola. I understand Gillette. You know, I understand insurance. And he'd explain in detail, you know, if I give you $100 million and told you to get people to stop drinking Coca-Cola, you couldn't do it. There's nothing that's going to happen tomorrow that's going to stop people from shaving. So Gillette's going to be just fine. And he had this great simplistic approach that worked for him. It was kind of indicative of the time that he did it. You couldn't really do value investing like he did now. But yeah, it served him well, and I don't think he has any interest in seeing something new.”
2022-04-20 · We Study Billionaires · BTC074: Bitcoin is Property w/ Eric Weiss (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Because baseball's over, they have no appetite for it. They've crushed it in the construct that we have. They're good. They're at the end anyway. They don't need to learn it again. They're going to be just fine. They don't need to learn something new. And they just have no appetite for it. But as Saylor said, you know, it's like, why are you asking Buffett about Bitcoin? Would you ask your great-grandfather his thoughts on a new technology? You just wouldn't. And Buffet for as smart as he is. He's a Columbia guy and I'm a Columbia guy and I like value investing and I have mad love and respect for Warren Buffett. I really do. And I admired a number of things about him, including his humility and a whole bunch of other things.”
2022-04-20 · We Study Billionaires · BTC074: Bitcoin is Property w/ Eric Weiss (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, the analogy I've used in the past is kind of like if they're kind of like a professional baseball player at the end of their career and then someone comes along and says Baseball's over, man. It's all about ice hockey. And try getting that old baseball player to learn how to skate and start playing hockey.”
2022-04-20 · We Study Billionaires · BTC074: Bitcoin is Property w/ Eric Weiss (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“And now his firm sells it. They sell Bitcoin funds. They'll rip you off, but they sell third party Bitcoin funds because too much money was leaving the bank and they said, all right, give them what they want. So, you know, what's the next step? JP Morgan, I think, was involved in the creation of Zcash, actually. So they're not anti-crypto. They had crypto group that had, you know, more than 100 people in it like four years ago. So they're aware of blockchain and the benefits of it and they even have their own JPMorgan coin now and stuff. Think there's just no need to be so toxic. Let's just bring people along and whether they buy a little or a lot, we need everybody.”
2022-04-20 · We Study Billionaires · BTC074: Bitcoin is Property w/ Eric Weiss (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Especially since they are traditional finance guys and this kind of upsets the entire traditional finance world a little bit. It's very threatened by no trusted third party. These guys made a living being trusted third parties. I mean, JP Morgan is nothing other than a trusted third party, right? So I understand why they would kind of maybe choose not to see it, but I think it's more constructive, generally speaking, not to attack these folks and more to view everybody as somewhere on this progression from against it, skepticism. Open to it, acceptance, loves it. We got to move people along. There's a lot of evidence that Jamie Diamond has moved that direction, right? At first, it was I'll fire anybody that I find trading it at my firm.”
2022-04-20 · We Study Billionaires · BTC074: Bitcoin is Property w/ Eric Weiss (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Mean who might have criticized Peter Thale, right? I think that everybody who comes to Bitcoin does and should come with a healthy degree of skepticism, right? This is something new. I've heard a bunch of FUD and you need to prove to me or I need to prove to myself through studying that there's something here, right? And I feel like the Warren Buffett's Charlie Mungers Jamie Diamonds, I think those are the guys that he took a shot at, right? I think those guys are old, right? And that's relevant because they've enjoyed the world the way they've seen it for a long time. They know that they're on the back nine, so to speak, right? And, you know, maybe they're not open to embracing something new.”
2022-04-20 · We Study Billionaires · BTC074: Bitcoin is Property w/ Eric Weiss (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, and he'll know what was happening in Europe, what was happening in Asia, what was happening here. And so when he gets new information, it's against that backdrop of what was happening. So when he studies for that goal debate against Frank, he has the benefit of having a view of history and civilizations and developments. And then when he got into Bitcoin and he started focusing on kind of a Bitcoin standard perspective of it and like the monetary aspect as well, he had the basis of history to overlay that monetary piece and it all just kind of clicks for him really quickly.”
2022-04-20 · We Study Billionaires · BTC074: Bitcoin is Property w/ Eric Weiss (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“And you're right, his brain works in a very interesting way. So, from my perspective, he's got like this chronological view of the history of the world. And for any given time, century, date, whatever, he will have some idea what was happening”
2022-04-20 · We Study Billionaires · BTC074: Bitcoin is Property w/ Eric Weiss (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Eric, you're fighting over ownership in an idea. You know, he's like, of all the great ideas I've had in my life, very few have worked out. Most fail. It's like, you know, basically he's like, you should just let this one go. And it was really hard for me at the time. And I was like, Know what? I'm clouded by emotion here. My buddy's really smart, he's good at business. I'm just going to let it go. And it turns out that that deal didn't. Work out. It didn't turn out to be a huge miss. They didn't make a ton of money on it. And I still have a good relationship with some of the people involved in it because I didn't sue them. And so that's really the best part about being friends with Michael is kind of access to his perspective and view on things.”
2022-04-20 · We Study Billionaires · BTC074: Bitcoin is Property w/ Eric Weiss (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, exactly. And if there's something going on in your life and you want some advice, he's a good friend and he gives you advice. I mean, I had a situation a few years ago, just kind of an anecdotal example, right? I had a situation a few years ago where I had worked out a business deal with a group of people that I knew. And then we were starting a new company, a new endeavor. And at the last minute, I kind of got screwed out of the deal by some unethical behavior. And I was really pissed about it. And I could have sued and I had like a lot of legal grounds to sue. But, you know, and I was talking to Michael, I was like, what do you think I should do? And, you know, he's just so smart and so pragmatic. He's like,”
2022-04-20 · We Study Billionaires · BTC074: Bitcoin is Property w/ Eric Weiss (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, he's so, you know, a lot of people will ask me what it's like being Michael's friend. And as you know, he's got super comfortable house and it's fun to hang out there. And we take some vacations together and he's very generous. We go to great restaurants. So there's that. But when people say, what's it like or whatever? Really, the best part about being his friend is access to supercomputer to John.”
2022-04-20 · We Study Billionaires · BTC074: Bitcoin is Property w/ Eric Weiss (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“One Bitcoin, and he goes, No, Eric, I bought 10,000 Bitcoin. So his first trade was $100 million purchase of Bitcoin. And I went from instantly in that moment, I went from being super psyched that I got my buddy into Bitcoin. This is great to... Yeah, because. Know it's like if you've been in Bitcoin a while, you know that there's some volatility and nobody gets a smooth path up Your buddy invests $100 million when it's down 15%. Do you really want to hear? I lost $15 million because of you. So, you know, anyway, but as the world now knows, he is a person of tremendous conviction. Who really does his research and when the price dips, he's just excited that he gets to buy more of it for the dollar. So yeah, that's kind of the story.”
2022-04-20 · We Study Billionaires · BTC074: Bitcoin is Property w/ Eric Weiss (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“And we kept talking about it, kept asking more questions. I kept answering what I could and pointing them in directions where I couldn't. And then it got to the point where I was like, okay, well, if I wanted to buy some of this, how would I do it? And I kind of, you know, helped him in that department as well. And then, you know, I didn't have any insight as to what was happening at the corporate level. We don't really talk about things that only board members would be privy to or something. So I didn't know, you know, kind of what was going in there. you know, sometime later I'm pulling into dinner at a restaurant down here in Miami and the phone rings and it's Michael. Like usually it'd be a text. He doesn't usually call, but I was like, oh shit, maybe something happened. So I pick it up and I'm like, what's up? And he's like, well, I bought some Bitcoin. And I was like, cool. And at the time, Bitcoin was about $10,000 of Bitcoin. And I said, all right, welcome to Bitcoin. He goes, yeah, $10,000. And I go, he bought.”
2022-04-20 · We Study Billionaires · BTC074: Bitcoin is Property w/ Eric Weiss (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“I was like, whoa, okay, here we go. And then over the course of a few days, I downloaded everything that I could, which wasn't enough to satisfy him. So he said, okay, if I want to learn more, you know, where do I go? And I directed him to.”
2022-04-20 · We Study Billionaires · BTC074: Bitcoin is Property w/ Eric Weiss (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“I said, he remembers that I said something along the lines of, anytime there's big change like this, there's opportunity and we just need to find that opportunity. And then I went back to talking about Bitcoin because that's kind of what I do. And in the past, he'd been very dismissive as he's kind of talked about and when I would bring up Bitcoin, he would change the subject politely or tell me, you know, all right, enough, Eric, you know, like I don't want to hear about it. But this time, as you said, because of what was happening in the world, he was more receptive to it. And when I brought it up, he said, Me more about Bitcoin”
2022-04-20 · We Study Billionaires · BTC074: Bitcoin is Property w/ Eric Weiss (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“So, like you said, we've been friends for a long time. Always discussed kind of technology and different investments in the space. It's just kind of what we're interested in. And we were spending a lot of time hanging out at his place in Miami during the pandemic. And we were kind of trying to make sense of things that frankly just didn't make sense to us at this K-shaped recovery and government printing money and why we're stock prices going up when the entire world is shut down, you know, like just trying to make sense of everything. And a little bit frustrated, frankly, that things weren't going in the logical direction a lot of times.”
2022-04-20 · We Study Billionaires · BTC074: Bitcoin is Property w/ Eric Weiss (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT