Michael Saylor: Bitcoin, Inflation, and the Future of Money | Lex Fridman Podcast #276
Michael Saylor is the CEO of MicroStrategy and a prominent holder and proponent of Bitcoin. Please support this podcast by checking out our sponsors:
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0:00 – Introduction
1:43 – Grading our understanding
14:01 – Inflation
33:37 – Government
54:47 – War and power
1:05:57 – Dematerializing information
1:37:18 – Digital energy and assets
1:48:56 – Oil barrel vs Bitcoin
1:58:16 – Layers of Bitcoin
2:15:27 – Bitcoin's role during wartime
2:20:11 – Jack Dorsey
2:36:31 – Bitcoin conflict of interest
2:43:13 – Satoshi Nakamoto
2:48:38 – Volatility
3:01:03 – Bitcoin price
3:13:19 – Twitter verification
3:22:16 – Second best crypto
3:27:58 – Dogecoin
3:32:31 – Elon Musk
3:38:00 – Advice for young people
3:49:27 – Mortality
3:52:32 – Meaning of life
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Here are the timestamps. Please check out our sponsors to support this podcast.
0:00 – Introduction & sponsor mentions:
– Scale: https://scale.com/lex
– Coinbase: https://coinbase.com/lex to get $10 in free Bitcoin
– Audible: https://audible.com/lex to get $9.95 a month for 6 months
– NetSuite: http://netsuite.com/lex to get free product tour
– SimpliSafe: https://simplisafe.com/lex and use code LEX
1:43 – Grading our understanding
14:01 – Inflation
33:37 – Government
54:47 – War and power
1:05:57 – Dematerializing information
1:37:18 – Digital energy and assets
1:48:56 – Oil barrel vs Bitcoin
1:58:16 – Layers of Bitcoin
2:15:27 – Bitcoin’s role during wartime
2:20:11 – Jack Dorsey
2:36:31 – Bitcoin conflict of interest
2:43:13 – Satoshi Nakamoto
2:48:38 – Volatility
3:01:03 – Bitcoin price
3:13:19 – Twitter verification
3:22:16 – Second best crypto
3:27:58 – Dogecoin
3:32:31 – Elon Musk
3:38:00 – Advice for young people
3:49:27 – Mortality
3:52:32 – Meaning of life
@Lisette García it is my understanding that the Post Office is the original government entity es-stablished in 1776 (confederacy) or 1789 (republic). The Postal Service is the for-profit corporation (check for W-9 data) that operates in the same buildings and is largely thought to be the same entity as the Post Office. I have read and heard s lot on the subject but I don’t claim to be an expert and would welcome any info.
@russell stone in the US, the post office is the retail outlet of the postal service. These retail outlets called post offices allow individual consumers to access many of the postal service’s most popular services in person. So, no, they’re not entirely separate in the US. And they’re certainly not funded separately in the yearly federal budget.
?
@russell stone Incorrect. Bad info. They are one in the same.
@Malcolm lee ikr! What kind of clown says that at his level?
This is a massive lesson. One of the best podcasts I’ve seen. Thank you!
I have just finished this interview, and I’m already contemplating watching it again. That was amazing.
I am going to watch it at least 2 times 🙂
@Long Live Kevin Samuels the king no he didnt his buys and sells have to be announced legally as microstrategy is a public company
Yeah…amazing that this guy pumped and dumped Bitcoin like a stock and it blew up in his face…
Amazing?
He sold 129,000 Bitcoin as the value was crashing in the last 2 weeks…
Please watch as many time as you want to, but if it takes you a life time wise up,,? You loose
Just when you think a 4 hour podcast is long enough, I find myself spending even more time going over the more salient points in Mr Saylor’s smart, interesting and even wise thoughts. Thanx Lex and Mike. Hope you will have more opportunities in the future. Cheers.
great interview. enjoyed ever minute of the almost 4hours. well done, Lex. and thank you very much for your insights, Mister Saylor.
Just getting into your stuff. As a person who has struggled all through school and life, who sees everything as mechanical and has to know how it works In order to move forward living in a world that makes no sense it’s nice to see a level head. You and your guests definitely have good conversations but a perspective above the common folk. Not a bad thing just different than I’m used to. The non manipulative aspect, just a talk is nice. I look forward to digging in and hope nothing more than your success. Thank you.
I studied Economics at Uni, and well, after listening to this. I feel dumb, hahaha. This was so brilliant! I am so glad that this content is available for everyone. So grateful
Same here. I would say that, coming out of school, I kind of had a sense of how little I knew about economics though. Through elective classes as well as through learning more about economics in my free time out of interest, and seeing the breadth and depth of topics that my degree barely touched on. For my undergrad economics degree at least, i would say it was centered on the foundational trends in micro/macroeconomics.
But Michael is completely right that economics is so incredibly complex, and that we as a society don’t address its problems as if that were the case. Our global economy is an emergent system that no one person can completely comprehend, unfortunately. And I think he’s also right that we are going to be facing some economic hardships in the near future resulting from how we’ve chosen to manage that system.
That’s because it’s not entirely honest. Say, how does the value of a fixed-base coin continually increase? Is that relative to inflation? This implies exchange with inflationary currency. However, if Bitcoin were to predominate wouldn’t it then be subject to the immense inflationary/deflationary spikes of the 1800s dollar? If yes, would that not make it an inferior monetary vehicle? If no, how would its value continue to increase? By way of an increase in the human population? Then how does that population not become owned by unfair price manipulators since Bitcoin’s design makes it hard to seize? Would a solution be address/coin banning? If so, does that mean financial crimes will increase Bitcoin’s value?
These hard questions are not addressed. This piece is closer to propaganda with its “HODL forever” mentality…
There are some podcasts that are just magic. This is one of them. You have to listen carefully, as it is fully packed with wisdom and knowledge. I’m grateful this is made accessible to the public.
Surf the wave, brother
Sadly this economic crisis means more inflation and more inflation affects the banking system. My condolences to anyone retiring this year..
ADV INTERVIEWS DEAN…..
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Stop being s_____!
What about people graduating college this year? Imagine absorbing all of this hyperinflationary environment. People thought the 2007 financial crisis was bad, with all the banks and insurance companies collapsing , at least a deflationary period ensued after that so if you had a decent paying job, youd be ok. This is much much worse. Here you’re getting swallowed alive.
4 hour interview and I could listen to another 4. Great interview. I’ve re-listened 3 times just to soak it all in.
@kill trocity ya
@Jeff Keller why is elon a “fascinating individual”? Explain this one please.
You’re the best ?
Michael Saylor is a fascinating individual. I think he may even bear out Elon Musk. It’s close and may be a toss up, but he may win.
@BrokeLesnar Oh I dunno…I’m no Einstein. But I’d say that becoming the richest man on the planet qualifies him as “fascinating”, by sheer default.
Personally…I think he’s funny and I LOVE that he puts Liberals in a ideological conundrum. They are so triggered by the fact that he’s a believer in FREE SPEECH.
And I love how he trolls them beautifully.
*Keep in mind…I’m no fan boy. I hate electric cars and I would never own a Tesla. Ever.
The bigger question is: Why do you think HE’S NOT, at the very least, fascinating?
One of the best interviews ever, Thank you Lex for bringing high quality interviews to us here on YouTube.
One of the best interviews! Thank you Michael and Lex ??
That was awesome. Thank you both for such a great, long form and philosophical conversation.
ʟᴇᴛ’s ᴛᴀʟᴋ••
Absolute gem of a podcast. It’s my second time listening to it.
Out of curiosity what did you get from it?
Im 11mins in….i already know i need to watch this at least twice more
Thank you both for sharing and for your generosity. Blessings 🙂
This is incredible, thank you Lex and thank you Michael
This was literally the best thing I’ve ever spent time watching. ? Thank you both. Saylor is so wise.
That means you haven’t watch DBS Tournament of Power, lol.
I just want to know who’s $30.5M house this is. Is it Saylor’s? (25:05)
I cannot afford ( time wise) listening to all of your videos but I can assert that this one is the one that brought me the most satisfaction and philosophical education.
I don’t want to be one of Saylor’s drug mules. I want the Federal Reserve to do it’s job better.
I listen to everything at 2X. I will never get through everything I want with so much quality digital content available, but being retired and use 2x, a steam through it.
@getredytagetredy Description: sounds like a fair read, misses the depth of behaviors like violence.
Maybe try watching Paul VanderKlay, Jonathan Pageau & Jonathan Verveake (all on YT) for (arguably) deeper patterns ?
With Love ❤️
@Jim Viau I usually like Lex, but his questions were often poor in this one and derailed more interesting thoughts that were going somewhere but never returned to… just badly done in this case. I think he’s great typically… everyone has bad days
@getredytagetredy , thanks for the suggestion. A great book indeed. Almost done reading. My kind of book. Thanks again.
This was an all-time conversation. Worth every minute of the nearly 4 hours it is.
i swear it was??
I found this to be the most informative interview lex has ever done
Why do you feel this is informative? Asking for a friend…
@Elektrotehnik sure stuff wasn’t covered but theres no real way to distill a ton of info down into one conversation else college is even more overrated than I found it to ve
Think twice
@Rural Disturbance you’re misguided, deflation is a good thing. Increasing the purchasing power of the populace only helps the economy. We will never be in search of higher prices.