YouSaid · the spoken record

Michael Saylor

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260
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2022-04-14
most recent
2022-04-14
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1
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podcast

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  1. “I think that if we're going to want to really make any scientific progress in economics, we have to apply much more computationally intensive and richer forms of mathematics.”

    2022-04-14 · Lex Fridman Podcast · #276 – Michael Saylor: Bitcoin, Inflation, and the Future of Money · IDENTIFIED FROM THE TRANSCRIPT · source

  2. “I think that the fundamental problem is if you see the world as a scalar, you simply pick the one number which supports whatever you want to do, and you ignore the universe of other consequences from your behavior.”

    2022-04-14 · Lex Fridman Podcast · #276 – Michael Saylor: Bitcoin, Inflation, and the Future of Money · IDENTIFIED FROM THE TRANSCRIPT · source

  3. “Money velocity is not a scalar saying what's the velocity of money, oh it's slow or it's fast, it ignores the question of what medium is the money moving through in the same way that what's the speed of sound? Okay, well, what is sound, right? Sound is a compression wave, it's energy moving through a medium, but the speed is different. So for example, the speed of sound through air is different than the speed of sound through water. And sound moves faster through water. It moves faster through a solid and it moves faster through a stiffer solid. So there isn't one.”

    2022-04-14 · Lex Fridman Podcast · #276 – Michael Saylor: Bitcoin, Inflation, and the Future of Money · IDENTIFIED FROM THE TRANSCRIPT · source

  4. “Think most economic ideas are bad ideas. You know, like, take us back to MIT and you want to solve a fluid dynamics problem, like design the shape of the hull of that ship. Or you want to design an airfoil, a wing, or if you want to design an engine or a nozzle and a rocket ship, you wouldn't do it with simple arithmetic. You wouldn't do it with a scalar. There's not a single number, right? It's vector math, you know, computational fluid dynamics is n-dimensional Higher level math, you know, complicated stuff. So when an economist says the inflation rate is 2%, that's a scalar. And when an economist says it's not a problem to print more money because the velocity of the money is very low, monetary velocity is low. That's another scalar. Okay, so the truth of the matter is. Inflation is not a scalar inflation is an indimensional vector.”

    2022-04-14 · Lex Fridman Podcast · #276 – Michael Saylor: Bitcoin, Inflation, and the Future of Money · IDENTIFIED FROM THE TRANSCRIPT · source

  5. “As we deliver electricity. And what's the impact on the human condition if I have electric power, if I have chemical power, if I have wind energy, if I can actually set up a reservoir, create a dam, spin a turbine, and generate energy from a hydraulic source? Extraordinary, right? And so our ability to cross the ocean, our ability to grow food, our ability to live, it's technology that gets the human race from a brutal life where life expectancy is 30 to a world where life expectancy is 80.”

    2022-04-14 · Lex Fridman Podcast · #276 – Michael Saylor: Bitcoin, Inflation, and the Future of Money · IDENTIFIED FROM THE TRANSCRIPT · source

  6. “Ever get on one of those rowing machines where they actually keep track of your watts output when you're It's like 200 is a lot. Okay, 200 is a lot. So a kilowatt hour is like all the energy that a human, a trained athlete can deliver in a day. And probably not 1% of the people in the world could deliver a kilowatt hour in a day. And the commercial value of a kilowatt hour, the retail value is 11 cents today. And the wholesale value is two cents. And so you have to look at the contribution of politicians and philosophers and economists to the human condition. And it's like at best a wash one way or the other. And then if you look at the contribution of John D. Rockefeller when he delivered you a barrel of oil and the energy in oil, liquid energy, or the contribution of Tesla”

    2022-04-14 · Lex Fridman Podcast · #276 – Michael Saylor: Bitcoin, Inflation, and the Future of Money · IDENTIFIED FROM THE TRANSCRIPT · source

  7. “The metaphor of human beings leaving shore or sailing across the horizon risking their lives in pursuit of a better life is an incredibly powerful one. In nineteen hundred, I suppose the average life expectancy is 50. During the Revolutionary War, you know, while our founding fathers were fighting to establish life, liberty, pursuit of happiness, the Constitution, average life expectancy of like 32, somewhere between 32 and 36. So all the sound and the fury doesn't make you live past 32, but what does, right? Antibiotics. Conquest of infectious diseases. If we understand the science of infectious disease, sterilizing a knife and harnessing antibiotics gets you from 50 to 70. And that happened fast, right? That happens from 1900 to 1950 or something like that. And I think if you look at the human condition.”

    2022-04-14 · Lex Fridman Podcast · #276 – Michael Saylor: Bitcoin, Inflation, and the Future of Money · IDENTIFIED FROM THE TRANSCRIPT · source

  8. “This is a 19th century handmade model of a 17th century sailing ship, which is of the type that the Dutch East Indias Company used to sail the world and trade. So that was made. The original was made sometime in the 1600s, and then this model is made in the 19th century by individuals.”

    2022-04-14 · Lex Fridman Podcast · #276 – Michael Saylor: Bitcoin, Inflation, and the Future of Money · IDENTIFIED FROM THE TRANSCRIPT · source

  9. “I mean, Archimedes had his virtues. I study the history of science at MIT and I also studied aerospace engineering and so I clearly have a bias in favor of science and if I look at the past 10,000 years and I consider all of the philosophy and the politics and their impact on the human condition I think it's a wash for every politician that came up with a good idea, another politician came up with a bad idea. And it's not clear to me that most of the political and philosophical contributions to the human race and the human conditions have advanced so much. I mean, we're still taking guidance and admiring Aristotle and Plato and Seneca and the like. And on the other hand, If you think about what has made the human condition better. Fire, water, harnessing of wind energy. Try to row across an ocean, right? Not easy.”

    2022-04-14 · Lex Fridman Podcast · #276 – Michael Saylor: Bitcoin, Inflation, and the Future of Money · IDENTIFIED FROM THE TRANSCRIPT · source

  10. “Like, we're doing okay. We're working our way through rockets and jets and electric cars and electricity transport systems and nuclear power. and the like. And if you look at the walls that grace the great court at MIT, it's full of all the great thinkers and they're all pretty admirable. If you could be with Newton or Gauss or Madame Curie or Einstein, you know, you would respect them. I would say they'd give us like a D minus on economics. An F or a D minus.”

    2022-04-14 · Lex Fridman Podcast · #276 – Michael Saylor: Bitcoin, Inflation, and the Future of Money · IDENTIFIED FROM THE TRANSCRIPT · source