Everything Michael Lewis said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Michael Lewis argues private companies are much better run than public ones
“I think there's an argument to be made that in any industry where they're both private and public companies, the private companies end up being much better run. And I mean like that mostly bad things happen when companies go public and certainly less pleasant.”
Lewis lacked an ending for his SBF book until FTX collapsed
“With Sam Beckman-Fried, I was a year into it, and I did not know what I was gonna do with it until it blew up”
Lewis: Amazon copies and sells every profitable third-party vendor product
“There's basically no vendor who's worked with Amazon that hasn't been screwed over by them. If Amazon finds a product that is making good money, they copy it and they sell it themselves.”
Michael Lewis: Book writing does not compound audiences across topics
“The books have a kind of, Market, and it's a big market, biggish market, but it doesn't, I see no evidence that I'm dragging people along with me. I feel like each book feels like another startup, and then I've got to go out and make it happen almost as if I'v…”
Lewis: Nike blew its dominance by ditching wholesale retail for direct-to-consumer
“Nike basically blew it, right? They let these, they let, they got rid of their stores. They thought it's all going to be online and on and Hoka roll in”
Lewis has personally bankrolled Mycroft for the past year
“So for the past year, I've basically been bankrolling the company personally myself.”
Lewis: 30% of prospective smart speaker buyers abstain over privacy
“The 30% of the people who are interested in buying a smart speaker have not done so because of privacy concerns.”
Michael Lewis: Improvisational risk engages audiences far more than scripted speeches
“Do you know how your heart sinks when someone gets up at a podium with a script, with a speech, and they're gonna read their speech? The audience is waiting for you to get through this thing, because they know nothing's going to happen. Like, whatever's on tha…”
Michael Lewis: Acquired will eventually evolve into doing standalone biographies
“At some point you're gonna wake up and say, you know, we should be doing more biography. We should be doing more people, and if that person is not, you know, is not naturally a huge corporation, you may still, I have a feeling there's more, there's an evolutio…”
Jim Simons personally declined Michael Lewis's pitch for an authorized biography
“Jim Simon's son had a kid in my oldest child's class in high school, and I tried, I approached, I said, look, I can't do it unless you want me to do it. There's no point. And he said like, Dad, just like, no, no, no.”
Lewis: Mycroft Mark II Won't Ship Until Q2 or Q3 2021
“We're not due to really ship it, I think, until the second or third quarter next year. That's, I think, our realistic timeline.”
Lewis: Mycroft has raised over $5M without institutional capital
“Mycroft over the last five years has raised over five million dollars in crowdfunding and very favorable loans. But we've never raised an institutional round.”
Lewis: Mycroft cap table includes over 1,500 crowdfunding investors
“We have over 1500 investors because we went through a crowdfunding campaign a couple years back.”
Lewis: Mycroft crowdfunding investors only hold non-voting shares
“First of all, we have two classes of shares. We have voting shares and non-voting shares. So, All this the cohort of the crowdfunding investors are all non-voting shares.”
Lewis: Mycroft has held retail talks with Walmart and Target
“We've been in talks with the big you know, the big box retail chains, right? There are people who want to put a privacy respecting solution on their store shelves. You know, we're talking about, you know, Walmart and target and, you know, these companies want …”
Michael Lewis: Acquired achieves the same narrative grip as long-form books
“You created the environment with the podcast that I tried to create with the book. You grab the listener. Like I try to grab a reader and get them to the state of mind where they'll let you take them anywhere, ah, and teach them about stuff that they don't eve…”
Michael Lewis: I bought Berkshire Hathaway Class A shares in 2008
“I bought it right in the middle of the financial crisis.”
Michael Lewis reveals he is a minority owner of Rajasthan Royals
“I'm a partial owner of the Rajasthan Royals.”
Lewis: Mycroft Plans to Partner with OEMs on Voice Technology
“Down the road, we expect to partner with OEMs to provide our assistant technology in their own devices, including smart speakers”
Lewis: Mycroft Mark II Costs About $100 to Produce
“About a hundred bucks right now.”
Lewis: Mycroft has 50,000 users and is not actively monetizing them
“We have about 50,000 people who are signed up to our system and are using our system, but we are not actively trying to monetize them yet because, quite frankly, the experience isn't where we want it to be.”
Lewis: Mycroft is almost entirely a software platform play
“No it's almost entirely a software play. What we're really promoting here is a platform. Mycroft is promoting a platform.”
Lewis: Mycroft is free to developers and OEMs, monetizing via consumer upgrades
“It's a completely open source system. It's free to developers. It's free to OEMs to integrate into their system. What we charge is the consumers for basically upgrades.”