YouSaid · the spoken record

Jay Gould

lines on the record: 155
first: 2021-08-04
most recent: 2021-08-04
sittings or episodes: 1
sources: podcast

Every line below is reproduced as it was said and linked to the record it came from. Nothing here is summarised or generated. Directory · Search · Corrections

“Yeah, well, the one thing we didn't touch on, I'm an angel. So if people are looking for investors, you hit me up through Twitter on a DM. I have my DMs open. You can hit me up on Twitter. You'll probably have it in your bio or something like that. But it's J-A-Y-G-O-U-L-D. You can find me there. But outside of that, I'm not operationally running anything. I'm just an investor. That's it”
2021-08-04 · We Study Billionaires · BTC037: Tech Entrepreneur To Bitcoin Investor w/ Jay Gould (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“They will come off the balance sheet based off of duration. So I'm not too worried about that. I am worried that the next leg will be that they start buying equities because they bought ETFs for bonds. It's a simple. They're going to start buying the SPY and everything else. And then the next thing will be when there's a major collapse after all these hedge funds start buying up real estate. They're going to have to buy their houses because they didn't work out. And then they own all our houses too. What are we doing? Like, this is scary. We need Bitcoin. They're going to own the bag exactly. So to your point, you might go to hyper Bitcoinization much faster if the collapse happens in the next 10 or 15 years after they bought everything up and you have the major, major great reset.”
2021-08-04 · We Study Billionaires · BTC037: Tech Entrepreneur To Bitcoin Investor w/ Jay Gould (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“It's crazy. And like the bonds I'm not so worried about because they have maturity dates so that you don't own the bond forever, right? They'll eventually, they'll probably not sell them off the balance sheet. I don't think they'll ever sell the bonds that they've been buying, the $120 billion a month. They'll just let them expire as maturity date, right? Which is fine.”
2021-08-04 · We Study Billionaires · BTC037: Tech Entrepreneur To Bitcoin Investor w/ Jay Gould (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“One thing I wanted to tell you that I agree with that it's dangerous is that what's going to happen, I believe, is that there's like $40 trillion in value for single family homes in the US. So from a perspective of the negative interest rates, they could probably suck up a lot of that dollar shift from the negative interest rate of bonds over to real estate. So if there's $40 trillion, you're not going to get all them single family homes in the U.S., but can they get 10 or 15% of the single family homes? And then when there's a cataclysmic collapse and the bailout comes from the Fed, they're going to own our houses too. They're going to own our bonds, our houses, our stocks at some point. The government's going to own everything if this keeps on. You can't allow this to keep. We have to vote this crap out with politicians.”
2021-08-04 · We Study Billionaires · BTC037: Tech Entrepreneur To Bitcoin Investor w/ Jay Gould (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Multi-billionaire, it's a multi billion dollar number. And I'm like, oh my God, why did I not do that? But I didn't because of fear and uncertainty and doubt, right? Like, just be honest, right? Like, that's the reason why I didn't do it. Didn't have the conviction and understanding that I have now. But anyway, long story short is, I do believe we'll have a multi-million dollar coin in the next 10 years. I believe that. I just don't think I'm going to be price it, not me, but I don't think people will be pricing the wall. Yeah, I can buy it.”
2021-08-04 · We Study Billionaires · BTC037: Tech Entrepreneur To Bitcoin Investor w/ Jay Gould (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Because you need everybody thinking this way, right? So we can get a multi-million dollar coin. I'm not saying you don't get there first.”
2021-08-04 · We Study Billionaires · BTC037: Tech Entrepreneur To Bitcoin Investor w/ Jay Gould (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Was explaining this to my wife as I saw a tweet we're at soccer and I was like, look at this one, I showed it to her before earlier today. And I said, this is crazy. Like imagine looking around this room right now, Kate, and you're so conditioned that everything you look at, you're like, oh, that's 50 sats. Oh, that's 200,000 sats. No, like this is crazy town. This is maximalism at its best where you're in the echo chamber and you're visioning and projecting out where you see things will go. But the rest of the world isn't. You have to have the rest of the world doing that. That means you have to have a market cap that goes up, but you need adoption. And again, market cap can go up before you have unit of account.”
2021-08-04 · We Study Billionaires · BTC037: Tech Entrepreneur To Bitcoin Investor w/ Jay Gould (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Unfortunately, but like not all of it, right? And so I just believe, to be honest with you, Preston, that you're going to see money moving into real estate and other types of vehicles. They're going to create vehicles. It's what they do. Wall Street creates products and vehicles, and then they sell it at our constituency, right? And that's just what I see happening before I see full adoption to Bitcoin. So that's why I'm saying unit of account, bro, we're a ways away from like pricing a house in SATS if you don't have all the money moving into it first. I'm not saying you don't get to a multimillion dollar coin first. What I'm saying is, and this is the tweet you got today, the tweet was Jay doesn't believe we're going to a unit of account.”
2021-08-04 · We Study Billionaires · BTC037: Tech Entrepreneur To Bitcoin Investor w/ Jay Gould (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“We were up around I'm taking all this money and I'm putting it in a savings account yielding me like 0.1 are you kidding me a tenth of 1% that makes no sense right so like I wasn't doing that so anyway some of the money was in that”
2021-08-04 · We Study Billionaires · BTC037: Tech Entrepreneur To Bitcoin Investor w/ Jay Gould (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“If this is after 2018, right? So I saw the crash in December and then it popped right back up like bang. Soon as the Fed went on 60 minutes, J went on 60 minutes and calmed everybody's nerves. Bang, the markets recovered instantly. Like literally instantly, right? The next day. And I said, after I saw that, and by the way, just to be clear, 2015 sold a company. This is how I'm very intimately familiar with this. You're sitting on this pile of cash that you windfall and you had to risk it. I had to buy stocks and equities and things like that because.”
2021-08-04 · We Study Billionaires · BTC037: Tech Entrepreneur To Bitcoin Investor w/ Jay Gould (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Way assets have worked for the last 30 plus years. In the early 80s, we had like 20 interest rates. They drove all the way down to 0% by 2009. And the guy said to one of my own investors, if you took a ball and I threw it at the ground, what's it going to do? It's going to hit the ground and bounce off. He goes, and that's what rates are going to do. I go, no, the Fed can't raise the rates. This is three years ago, right? This is before you're dead.”
2021-08-04 · We Study Billionaires · BTC037: Tech Entrepreneur To Bitcoin Investor w/ Jay Gould (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“They're going to be the ones holding the bag, but to your point, they could just, the asset, underlying asset value of the real estate isn't actually important to the bondholder in that sense. It's about, like you said, the adjustment on the rents for their yield on the inflation as it's changing year to year. And that's the most important thing. I went to some of my investors about three years ago and I said to them, I want to get into triple net real estate. I want to raise a fund because they had contacts in Wall Street. And I was like, let's go out and raise like $100 million, 50 to $100 million, and we'll buy triple net. We'll buy corporate a Starbucks corporate run properties. You buy the land. It's triple net. They pay for all the maintenance of the audience. They pay for the maintenance of the building. They pay the property taxes, et cetera, et cetera. So you do nothing but collect money, basically. This is great. And it's a fixed product. It's better than a negative interest rate from a bond. Of course. Because you're getting five, six percent yields on these properties. And what they said to me was, if you look at the history of”
2021-08-04 · We Study Billionaires · BTC037: Tech Entrepreneur To Bitcoin Investor w/ Jay Gould (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Going to start doing this to dilute what could have been Bitcoin adoption. They're going to do other things that we're all in the Bitcoin community saying, what are they doing? Like eventually everyone's going to do a run on housing, right? And buy Bitcoin. That's what you and I believe, I think.”
2021-08-04 · We Study Billionaires · BTC037: Tech Entrepreneur To Bitcoin Investor w/ Jay Gould (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“And that's real estate. And I think the first, this is where the slowness happens of the adoption, I'm telling you, right? I think that it's something that I didn't foresee happening. I couldn't see that coming, that they're just going to buy up houses. They're going to keep finding things they can buy as an asset that gives them a yield until they've ran out of everything with all the money they're getting from the Fed. And then what's the last thing to buy? It's going to be first and then Bitcoin. I'm saying.”
2021-08-04 · We Study Billionaires · BTC037: Tech Entrepreneur To Bitcoin Investor w/ Jay Gould (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Point was that I'm getting to is there's a hundred and what is it, 118, 120 trillion dollars in debt globally? This is sailors numbers. And I think 1820 trillion of that is negative effective real rates of returns are negative, right? That money is not going to. So my bullishness in the beginning of the year after hearing sailors hit it, I was like, wow, that's really bullish because that money has to come into Bitcoin because they're yield chasing and they're not going to get a yield on Bitcoin. But the appreciation, if you look at the history of it, but that's a big bet for a bondholder to say, we're not looking for a yield anymore. We're just going to buy something for the appreciative gain going forward. That's not what bond holders like to do. They like to get a yield annually off of the asset. They play against inflation.”
2021-08-04 · We Study Billionaires · BTC037: Tech Entrepreneur To Bitcoin Investor w/ Jay Gould (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“They just went out and raised $6 billion from investors to buy up single family homes. Like you said, to replace debt instruments. Right. This is crazy, right? So, no, no, no, Blackstone, I said, did the $6 billion, right? So Blackstone just gets the six billion. And it says, yeah, and not Grant, right? Grant's trying to get the six running on them.”
2021-08-04 · We Study Billionaires · BTC037: Tech Entrepreneur To Bitcoin Investor w/ Jay Gould (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Gary Camp said this obviously, and Travis for Uber Wakar ownership as well, but he's been pushing pounding the drum on the real estate side. And he said, I'm going to sell. He has $2.5 billion of assets under management right now with all his properties that he has at Cardone Capital. And his buyer, he said, will be Blackstone someday. He's like, but I don't have the scale yet. It's got to be way bigger, right? Two and a half billion is not enough. It's got to be like $10 to $20 billion. Yeah, it's got to push the needle, right?”
2021-08-04 · We Study Billionaires · BTC037: Tech Entrepreneur To Bitcoin Investor w/ Jay Gould (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Had Grant Cardone on my show, and Grant and I had multiple different conversations on and offline, and he's obviously a real estate guy. And he's, I got him to buy Bitcoin, by the way, just so everybody understands the big argument. I got Grant Cardona to buy Bitcoin. I convinced his ass, right? Because when it dropped like 29,000, he gives our clubhouse and he's like, Jay, you're proud of me. I bought a bunch of Bitcoin. Who knows if he really did, but he told us all. But he's been saying that America is going to turn into renters. Americans are going to go away from home ownership. It's going to turn into renters, right?”
2021-08-04 · We Study Billionaires · BTC037: Tech Entrepreneur To Bitcoin Investor w/ Jay Gould (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Get it, I get that, but Wall Street's really smart about figuring out how to create new products to sell that will replace the fixed income bonds. And they're starting to do it at Blackstone. Warren Buffett said it years ago in 2009 collapsed. He's like, man, what I'd really like to do is go buy a bunch of single-family homes. And it's like, why would he say that?”
2021-08-04 · We Study Billionaires · BTC037: Tech Entrepreneur To Bitcoin Investor w/ Jay Gould (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“And the one thing he said that was like simple taking complex things and making them simple rather than get into all the intricacies about Bitcoin and the strength of Bitcoin and all that, here's a simple one for the average public. He goes on CNBCs all the time. There's 21 million Bitcoin. There's 48 million millionaires in the world. There's not even one Bitcoin forever millionaire. That's a pretty simple thing to say, right? The only thing Anthony can do Right. It's like there's not even a, it's like you're sitting at the baseball game at the Yankees Stadium, and it's like, who wants a hot dog? It's like, you know, it's supply and demand scarcity.”
2021-08-04 · We Study Billionaires · BTC037: Tech Entrepreneur To Bitcoin Investor w/ Jay Gould (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“What was that called? I forget the name of it, but they were teaching people about Bitcoin basically. And that's when, by the way, I think Michael Saylor has been great for Bitcoin. You need more people like Michael Saylor. We don't just want one, but we need more people like that. And the Bitcoiners said we don't need anybody. But I think you do need people like you and Michael because I think you take a complex problem and you simplify it for people. You explain it in a simple way that they can understand and in a coherent way, right? And he does a really great job. He talks about $400 trillion in assets. He's amazing. It's like his brain is moving like, is he reading a slideshow in his head? It's amazing, right? It's unbelievable. I want to interview this guy so bad. It's like, God, can I get him on my show? I love this guy. But he's amazing, right? And the narrative makes sense. It all makes sense. I'm not saying it doesn't make sense. Yeah, yeah. Why shouldn't I have is the timing of it, right? I'm not saying that institutional money is not going to go in. I had Anthony on my show as my first guest and he was talking about a wall of money coming in from Wall Street.”
2021-08-04 · We Study Billionaires · BTC037: Tech Entrepreneur To Bitcoin Investor w/ Jay Gould (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“I'm with you. And I believe that a little bit stronger in the beginning of the year when Saylor and Ross Stevens had their, I forget the name of their conference that they did that was remote.”
2021-08-04 · We Study Billionaires · BTC037: Tech Entrepreneur To Bitcoin Investor w/ Jay Gould (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“By the way, I hope you're right because I got a lot of Bitcoin. And it doesn't, you know, either way. So I'm not like anti Bitcoin in any way. Yeah, no, it doesn't.”
2021-08-04 · We Study Billionaires · BTC037: Tech Entrepreneur To Bitcoin Investor w/ Jay Gould (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“These are simple things. Simplicity works in tech, Facebook, Google, Twitter, whatever, Google, like if you just simple input search box, right? This is not complicated stuff. That's why it scales really quickly. This is complicated. I'm sure you could admit you don't know everything about Bitcoin, but to the average person, you know 99% more than most people, and yet you still don't know everything about Bitcoin, right? Like to me, there's a learning curve that needs to come. understanding about money and monetary policy and most people don't know anything about this even people have a lot of money don't and that part I wouldn't say it's worrisome it's a slower adoption than i think people believe”
2021-08-04 · We Study Billionaires · BTC037: Tech Entrepreneur To Bitcoin Investor w/ Jay Gould (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“So he has time to make that decision in the future. And that's why I'm trying to explain when I say it's probably not going to go to a unit of account in our lifetime or it's going to be so far out. Some of these guys think it's in 10 or 15 or 20 years. And I'm like, you want that to happen? I want that to happen. Clearly, we have a vested interest and we're aligned. We'd love that to happen. But I don't necessarily see that happening because I don't see the adoption from everybody who has the money. Because again, it's a monetary network. You need that money to believe and it's not as simple as saying like, hey, I give this to my two-year-old. And in like five minutes, he knows how to use it. 10 minutes, right? He's using an iPhone. How to use YouTube of my six-year-old using YouTube all day long.”
2021-08-04 · We Study Billionaires · BTC037: Tech Entrepreneur To Bitcoin Investor w/ Jay Gould (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Land are we living in? And when I talk to people outside of the Bitcoin world, which I do a lot, friends of mine that are doctors, lawyers, smart people, wealthy individuals, I bring people on my show. I brought Greg Olson on my show. This guy sold his company. He sold his company at 48 years old, I think, for $600 million, bought it back for six, then sold it again for $60 million. I said, how much Bitcoin do you own? This guy's like, Bitcoin. I don't own any Bitcoin. I'm like, why not? He's like, I don't need to own Bitcoin. People don't realize if you're that wealthy, you actually don't need Bitcoin. And when I say that to a maximist, they go, oh, no, he needs it. I'm like, no, he has time. He has time. He's invested in assets that are inflating with inflation right now.”
2021-08-04 · We Study Billionaires · BTC037: Tech Entrepreneur To Bitcoin Investor w/ Jay Gould (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“You're drinking your own cool aid. Like, we all want to see these kind of things happen because Bitcoin goes through the roof, right? So you're just, it's like hopium, like the Bitcoin community has. And I love all these Bitcoin maximalists. But I think that they're underestimating that the Fed can keep the party going longer. And I'm not saying they can keep it going forever, Preston. There's no question that's not going to be the case. And I might be the one that's wrong on this. I just think that they've it should have failed a long time ago based off of what's happening. He should have failed in 2009 and they inject the money. 2018, they inject the money. 2020, they inject the money. They're buying $120 billion in bonds every month right now. This is crazy talk. I mean, when you really think about it, everything is completely fake right now. The stock market, real estate, bonds, it's all fake. And we all know it's fake and we know that the inflation numbers aren't even real. And the Fed even just said something the other day. It was like, well, you know, I don't know the exact quote he had, but he said something along the lines that it's not a real number almost. It was interpreted that way when I read it. And I was like, what the hell are we? We're kind of bizarre.”
2021-08-04 · We Study Billionaires · BTC037: Tech Entrepreneur To Bitcoin Investor w/ Jay Gould (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“I'm 42 years old Say my lifetime, I'm talking about the lifetime that matters, right? If I'm 80 or 90 and it happens, maybe I don't know, you know, but I'm just saying in my working years, in my, like the years that matter over the next 20 or 30 years, I would say, I don't see it happening because I think that people underestimate the ability of the Fed to keep this going as long as they want. And I think that the Bitcoiners believe it's all just going to collapse overnight. Max says that the dollar is going to collapse in August. He was saying this on Clubhouse two months ago. I was like, you're living in your own.”
2021-08-04 · We Study Billionaires · BTC037: Tech Entrepreneur To Bitcoin Investor w/ Jay Gould (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Kind of like Amari's law where people will say you overestimate things in the short term but underestimate things in the long term. And I think that problem with the Bitcoin community is that we're living in a bit of an echo chamber and we're very, very bullish, right? I try to remove myself from this all the time and everything I've ever done. That's why I was able to do the things I was able to do because I know I'm not the smartest guy in the room. I'm not an Ivy League or I don't have pedigree, right? So I'm humble enough to recognize that about myself. So I'm constantly trying to learn. And what I've seen with the Fed is I think Amari's law applies to the Fed. Now, the Bitcoiners will say it applies to Bitcoin. And that is true. I think in the long term, now comes down to time preference, right? And are you saying what's long term? Because I saw the tweet today that you would both.”
2021-08-04 · We Study Billionaires · BTC037: Tech Entrepreneur To Bitcoin Investor w/ Jay Gould (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“This is what I'm leading to the selflessness, is another one. And if you die tomorrow, what are they going to say about you at your funeral? For Elon, they're going to say a lot of great things. But on the Doge thing, there's a footnote, unfortunately. And there's going to be millions of people that lost their life savings, I think. And their life savings to him is a joke, right? Their life saving may be $10,000. This guy's the richest man in the world. He's like, oh, come on, they can make that again. But dude, they might not. And some people may even commit suicide over this kind of stuff. Who knows? Like, I just. There's some responsibility of treating people with the respect and dignity that you should be treated with. And you can't think that everybody's as smart as you. And I'm not saying that you should assume everybody's stupid, but I don't think that it's a stupid versus a smart thing necessarily. I think it's in the know versus not in the know. And people are looking to him for guidance. We can move on. But I just, it really does bother me when I see what he's doing.”
2021-08-04 · We Study Billionaires · BTC037: Tech Entrepreneur To Bitcoin Investor w/ Jay Gould (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Pattern recognition is really important, right? For business and stuff. I said it earlier, I think that's key. Win-win solutions, I think, are really key too. Like you try to seek a beneficial, something that's beneficial to both parties or all parties involved. And a lot of people, I don't want to name names or anything, but there's been people I've done deals with in the past. Everybody operates. They don't operate this way.”
2021-08-04 · We Study Billionaires · BTC037: Tech Entrepreneur To Bitcoin Investor w/ Jay Gould (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Look, I got a few rules that I kind of live by, really simple ones. Integrity is important to me, most important thing, most important thing. Integrity. Empathy for others. I have a relentless kind of behavior that's why I was able to do what I did because I've worked nonstop 10, 15 hours a day, seven days a week for eight years, right, on the last company, not including all the other ones before. You have to be like you do, like putting it in the hours, right? You got to do that.”
2021-08-04 · We Study Billionaires · BTC037: Tech Entrepreneur To Bitcoin Investor w/ Jay Gould (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Sure, he has. I'm sure And it's like, I think I almost feel like he's doubling down because it was a joke, and now he's trying to act like it wasn't a joke for like maybe the CFTC or something. I don't know, you know.”
2021-08-04 · We Study Billionaires · BTC037: Tech Entrepreneur To Bitcoin Investor w/ Jay Gould (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“And this is where Elon, if he's listening to this podcast, can't imagine if the clip ever gets told, you're going to wreck people if this doesn't work out. And you should feel some respect. You probably already have that.”
2021-08-04 · We Study Billionaires · BTC037: Tech Entrepreneur To Bitcoin Investor w/ Jay Gould (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“But this is alone. Yeah, but this, I know. He's definitely weird. I mean, I'm weird too, right? But the weird thing, and this is where he's weirder than me, right? The weird thing is like if you look at all these other influential people that have come before him and before us, right? Bill Gates, Steve Jobs. Just think of like these Titans, right? Like who has ever went out publicly and said, I'm really invested in this highly speculative thing. They probably have been invested in highly speculative things, but they felt a personal responsibility to the public to not tell people that they're invested in highly speculative things. Because they'll copy them thinking, well, he's smarter than me.”
2021-08-04 · We Study Billionaires · BTC037: Tech Entrepreneur To Bitcoin Investor w/ Jay Gould (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“And I know we're about to get into a conversation we probably shouldn't, but like the other day when Kathy, Elon, and Jack were talking. It blows my mind that Elon is still promoting and saying he owns, even if he owns Doge,”
2021-08-04 · We Study Billionaires · BTC037: Tech Entrepreneur To Bitcoin Investor w/ Jay Gould (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Centralized. At the end of it all, it always goes back to it's not decentralized, right? And that's the key that escapes a lot of people, I think.”
2021-08-04 · We Study Billionaires · BTC037: Tech Entrepreneur To Bitcoin Investor w/ Jay Gould (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Music sites and all kinds of stuff. So if they create a coin at Amazon, it's not transferable necessarily outside of their ecosystem. And even if it does become transferable outside of the ecosystem with a wallet and stuff, it has to get adopted. And even then, it's centralized, right?”
2021-08-04 · We Study Billionaires · BTC037: Tech Entrepreneur To Bitcoin Investor w/ Jay Gould (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“The other day, Amazon, we're digressing, but I'm a happy deal. But like the Amazon, Amazon said, well, we're not going to accept Bitcoin payments. And then the fear that I was hearing on Clubhouse verbalize, I love Clubhouse for that reason. You kind of hear what people are thinking, you know? And they were like, well, they're going to create their own token. These are people coming up from the audience. And I'm just like. But it's no different than having credits on these websites. I've been doing this for years. You buy credits and then you use your credits.”
2021-08-04 · We Study Billionaires · BTC037: Tech Entrepreneur To Bitcoin Investor w/ Jay Gould (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“That's exactly right. And it's like, and they're like, oh, our coin does this and that I've learned this through the guys on Clubhouse actually, the narrative, at least against it, which totally makes sense. They're creating a marketing scheme of some sort to get you to buy in around some technology. But what they're saying is that it's based off of blockchain, but it's really just a database because it is mostly centralized, right? All these companies, right?”
2021-08-04 · We Study Billionaires · BTC037: Tech Entrepreneur To Bitcoin Investor w/ Jay Gould (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Was my second, you know, there was, I have probably 20% Ethereum in terms of the dollars invested and 80% in Bitcoin. So 100% Bitcoin now. I've never bought any other of these chitcoins. I just thought, again, just like the VC is calling me, obviously I don't know enough about what's going on. What I realized now took me years to figure out last year or so is it's the pre-sale, right? Like the VCs and all their inside buddies are getting these things at like under a penny and then they bring it to an ICO or it goes public essentially and everybody else they're dumping it on them for like three, four, five cents or 10 cents.”
2021-08-04 · We Study Billionaires · BTC037: Tech Entrepreneur To Bitcoin Investor w/ Jay Gould (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“When people talk about the, which I never got into, the only thing I ever bought was Ethereum because it was a real close, not close, but first as anything else, it was a close competitor, right? And I was like, well, it's not so clear to me what we'll end up winning. And the Ethereum argument made a lot of sense to me because whether you believe in the DeFi movement or not, there is an ecosystem built on top of Ethereum is my thinking at the time. What I realized is that it's not truly decentralized. That part escaped me in the earlier days, right? I sold all my Ethereum, right? But I had Ethereum”
2021-08-04 · We Study Billionaires · BTC037: Tech Entrepreneur To Bitcoin Investor w/ Jay Gould (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“And then when you own something, that's when you really start to do your research on anything, right? It seems, at least for me, I researched enough before I buy something, but once I'm in it, I'm really researching because my money's in it now. So now I have risk, right? There's risk capital involved. And what I didn't understand early on about Bitcoin was really like that it is the hardest money, right? At that part, like totally escaped me in the beginning. I just saw it as if you were buying like a stock. It sounds so silly, but like that's kind of how I thought of it. I was like, this is an asset class that's taken off, right?”
2021-08-04 · We Study Billionaires · BTC037: Tech Entrepreneur To Bitcoin Investor w/ Jay Gould (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“But I didn't understand earlier on on Bitcoin the stuff that's the most important stuff. When I started to buy, I mean, it's crazy. I was buying it and I didn't fully understand. I think most people do that. They buy when they don't fully understand. Yeah, I agree. And they buy out of FOMO and all this other stuff, right?”
2021-08-04 · We Study Billionaires · BTC037: Tech Entrepreneur To Bitcoin Investor w/ Jay Gould (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“And that was kind of the way I started to think about it. I was like, I got to get into this. I'm not worried about it dropping because it wasn't that low to begin with. And I definitely saw that this has the opportunity to scale in terms of like network externalities, which most of my businesses were based off of. I got that. What I didn't really understand until probably in the last six months becoming friends with Hodle, I kept thinking of it as a network effect business like social networks. And Hodl's like, no, no, no, no. This is a monetary network, not a social network. We could have 500 people in this thing and it could be worth $10 trillion because of all the billionaires just put their money in. It goes up, right? I was like, I thought about that, but that seems really unstable if it's a small number of people, concentration risk, you know, but he is right. It is a monetary network. It's not a social network. So when people say it was only like 100, some million people that own it, that doesn't matter. What matters is the substance of the people that own it and the dollar to bring it to the table because every dollar is a participant, not the people.”
2021-08-04 · We Study Billionaires · BTC037: Tech Entrepreneur To Bitcoin Investor w/ Jay Gould (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Second touch, I thought I was like angry about it. And then the third touch, I was like, I can't be an idiot here. Like, I got to do this. So I got, I didn't, I didn't put a lot in in 2016, but I put some in. I put a little bit more in. And as everybody will say, I should have put more in earlier. And what happens is every time I buy, I buy more and more and more as it goes up in price. And I found because I had angel investors in Yashi that were Wall Street executives like hedge fund guys, this is how they buy in the stock market. A lot of people don't realize this, particularly in Bitcoin because now the new money coming in is a lot of institutional money in Bitcoin. And I kind of have an idea the way these guys think. They buy on momentum. So what we've been at for the last few months, it's sideways. And it will remain this way until the catalyst goes one way or the other. They're either going to shorten if it starts to drop or they're going to go long as it starts to go up because nobody wants to miss the momentum. That's just the way it works.”
2021-08-04 · We Study Billionaires · BTC037: Tech Entrepreneur To Bitcoin Investor w/ Jay Gould (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Like, it takes three touches, in his opinion. Not everybody's the same Like that third touch is when you're like, What am I doing? I got to go in. The first touch, I forget what he said, the exact, I wish he was here. I can say it, but the first touch, it's like, this is a scam, right? The second touch, it's like, I missed it. And the third touch is like, I better get in before I really miss it. It's something along those lines. And he's right. Like the first time I saw it, I thought, ah, it's highly speculative. It's not going anywhere. It can lose all my money on this, right?”
2021-08-04 · We Study Billionaires · BTC037: Tech Entrepreneur To Bitcoin Investor w/ Jay Gould (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Well, we're merging in with media general, like the two major broads. And they were like, they're going to be like, who are these guys? And you're just staying home on payroll and they don't do anything unless you want to start coming to the office. No, I'm good. I'm happy to quit. So I wanted to do about a year ago, you know. So long story short with that is after I quit, I had a lot of time on my hands. Hanging out with the kids playing with toys all day and my wife's like, you need to do something. I was angel investing, all that kind of stuff. Bitcoin keeps coming over the radar and I'm like, man, did I miss this because I'm watching the price movement? And I was like, I got to, I got to get in. So I make my first purchase 2016, start buying in 2017, 18, and so on.”
2021-08-04 · We Study Billionaires · BTC037: Tech Entrepreneur To Bitcoin Investor w/ Jay Gould (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, but he was listening, and I did, right? He goes, if you stay home, you can go in the office whenever you want, but I'll give you the opportunity to just kind of just chill at the house. But you want to talk about Petty. He's like, but I got to cut your salary down. I was like, I don't care, dude. You don't even got to pay me. He goes, no, you have to be on payroll because I need the NDAs in place and the non-competes and all this non-disparagement, all this stuff that we sign, you know. He's like, that's all got to remain in place. I go to whatever you need to do, right? Six months after that, they called me up. They're like, would you resign? And I was like, why am I resigning now? And they were like.”
2021-08-04 · We Study Billionaires · BTC037: Tech Entrepreneur To Bitcoin Investor w/ Jay Gould (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Can I just step down and make my number two, which was this guy Scott Hoffman? He was like the 70th employee at Yahoo. So he's got a lot of experience. Just make him the CEO or president, whatever, and just make me like an advisor. He's like. He goes, Listen, if you stay home, like, and I don't live that far from where the office was, I live on the water over here in Tom Zero.”
2021-08-04 · We Study Billionaires · BTC037: Tech Entrepreneur To Bitcoin Investor w/ Jay Gould (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT