10 Rules for Life with Michael Saylor
 
 

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“There’s this phrase Bitcoin fixes this… I’m of the opinion that Bitcoin fixes everything. I think Bitcoin is a solution to every city, every state, every country, every corporation, every network, every application, every product.”
— Michael Saylor

SHOW DESCRIPTION

Michael Saylor is the CEO of MicroStrategy. In this interview, we discuss his 10 tips for young adults, the opportunities and threats of AI, the importance of Bitcoin in an automated world, the strength of ossification compared to accelerating change, and the criticality of Bitcoin miners to the Bitcoin network. We also talk about Michael’s navigation of the bear market.   

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Chat GPT was released a little over 6 months ago. It is arguably the most significant tech innovation since the internet. People are now routinely using chatbots to interact with technology and access information tailored to very specific needs. Whilst the impacts of this are yet to be fully understood, it is widely accepted that we have entered a new exciting and equally frightening paradigm.

The issue at hand is that the world is becoming increasingly automated. As a result, human beings are being viewed as a constraint on productivity, which AI technology can mitigate. Where does this leave humans? In a world predicated on code and efficiency and automation, what controls are in place to ensure these systems are secure such that they can not be centralised and exploited such that the general population suffers rather than flourishes? 

Michael Saylor is of the opinion we need an automated tool that is secure and outside of any centralised control. Bitcoin, in this scenario, is the tool that can compete with new digital advances, but, enable humans to retain some control of their lives. As such, it is imperative that we protect the integrity of the innovation such that its utility remains available for both existing and future generations.

The question then becomes how do we best protect Bitcoin? Saylor argues that it is the Bitcoin miners that are Bitcoin’s “fortresses”: they provide brute force security, a cryptographic defence, and the means to marshall the means to advocate effectively for Bitcoin within the corridors of power. Bitcoin miners, therefore, need protection to ensure they continue to act as Bitcoin’s standing army. We do this by ensuring stability: ossifying Bitcoin’s base layer protocol.

TIMESTAMPS

00:01:28: Introductions
00:02:23: Michael's ten suggestions for life
00:16:33: Michael's practical advice
00:23:08: How to be successful, and AI
00:36:09: The pattern of technological progress
00:41:16: AI is digital intelligence
00:46:50: Future of warfare with robots and drones
00:53:01: Rejecting AI, and the usefulness of humans
00:56:36: The risk to Bitcoin of AI
01:07:11: The strength of the Bitcoin Network
01:11:58: Why Bitcoin should never be changed
01:24:12: The impacts of SegWit and Taproot
01:29:15: The importance of capping the bandwidth
01:32:19: Miners are Bitcoin's first line of defence
01:40:50: The inevitability of increased transaction fees
01:49:14: How Bitcoin has impacted Michael
01:54:42: The Silvergate Loan
02:07:05: Final comments

 

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SHOW NOTES

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