The Ledger, every show

“I think that from now where we're recording this in April of 2020, I think that by the end of 2021, we'll see Bitcoin hit a 100,000 dollar price point”

“I think it is riskier for a company to sit with five hundred million dollars in US dollar cash on their balance sheet than five hundred million dollars worth of Bitcoin. And the reason being that or maybe the one clarifier is if you have a long-term oriented p…”

“And ultimately I think in my lifetime, the U S dollar is not going to be the global reserve currency.”

“The only thing that correlates to outsized returns across different economic boom and bust cycles is being early in the best deals, right? So check size doesn't matter. Follow-on decision-making doesn't matter.”

“Now, what we've seen over the last decade or so is so much capital coming to the market. Maybe there's been an incremental increase in the number of good companies created every year, but it's not kept pace with the amount of capital. And so my thought process…”

“The Bitcoin halving is coming, and that's just when the daily incoming supply, the number of Bitcoin that get created each day, is gonna get cut in half, from 900 Bitcoin to 450. So like, I always joke, if you went to Economics one-on-one class, supply and de…”

“These like line striping or line painting businesses are going to be exponentially more valuable in the future because as self-driving becomes prevalent on the road, governments are going to mandate that the roads are painted more often so that the cars from a…”

“And then the second thing is if they're able to do this correctly, it actually may be cheaper to do some of this in space than it is on earth.”

“I think Solana is going to go up a lot. It's going to go up a lot more than Bitcoin. I think it's going to go up a lot more than Ethereum in this specific bull market. Cause it's a smaller market cap. There's a lot of energy and excitement around it and all th…”

“I think she's going to be president of the United States one day.”

“So I think there's going to be an entire rise of businesses that just use computer vision to do the same thing. Like anything that can be automated will be automated rather than have humans with their lazy eyes walking around, just have computers that constant…”

“I don't think that we are going to see very many one person companies reach significant scale measured in nine figures of revenue.”

“I think it's going to end up being five plus trillion dollars needed to get out of this.”

“What I think we're seeing right now is the feds fighting a deflation and you just, they're not going to win right until they start printing trillions and trillions of dollars. And when they do that, we will eventually get back into an inflationary environment.”

“One of the things that I personally think we're not going to get this for probably three to five years, but we're going to look back three to five years from now. We're going to say the death rates that were originally thought are going to be nowhere near wher…”

“Unfortunately in most of the cases, the best asset management firms have not taken public pension money. Because they're scared of the freedom of information act request. And so therefore they don't have the people who need it the most, the police officers, th…”

“There have been, you know, a ton of academic studies that have shown if you take an investor's portfolio and you sit them down and you say, can you please stack rank your portfolio in terms of who should have the best outcome and who should have the worst outc…”

“My expectation is actually that shareholders at some point will start turning on some of these public companies that have tons of cash and saying like, Hey, if we're sitting there with, you know, Warren Buffett sitting with a hundred billion dollars of cash, l…”

“And so what Varda does is they've created a space manufacturing facilities. They launched them up into space. They're right now manufacturing drugs in zero gravity. And then they're bringing it back to earth.”

“He was in New Jersey and he was responsible for three percent of the state's budget and the taxes he personally paid. And he moved to Florida.”

“We have Bay Area times. It is a newsletter focused on business, tech, and finance. We pioneered something called a visual newsletter.”

“Joe Rogan's got two employees himself and one other person, and they have a hundred million dollar deal with Spotify. They do fifty million dollars per employee.”

“99% at one point of all of the deaths in Italy had either some other health concern or a pre-existing condition.”

“Demographically China is basically doing what the U.S. Did, you know, 50 years ago, right? They've got a much younger population and kind of the way that they're growing.”

“My guess is it's going to be less than the number of people they left off. So actually what we're going to see is a net loss of job opportunities over the lifetime of this crisis.”

“My opinion is that it'll probably go, it'll crack 2000, but it won't go past 2500, right? So it'll kind of end up in like a 2020, a hundred dollar gold price point.”

“Most of the investors who talk about being founder-friendly, they're talking about the investment terms, the way they interact with founders et cetera, but they're still making decisions based on closer to a fifty-fifty on the company idea and the founders.”

“There was a three-person team that was assembled. It was a ninety-day special project, and the whole goal was to help those two individuals grow their following on Facebook, which, when I tell people that, they always think it sounds a little almost vain, but …”

“QQQ's been compounding it, call it, 1313 and a half, maybe 14%, depending on what their starting point over the last decade or so. The average venture fund, if you give them all the credit for their paper marks, 17% a year or something, maybe 18%. So if you ju…”

“And he went from owning zero Bitcoin in July of 2020 to today he has more than 210,000 Bitcoin, which is more than one percent of the Bitcoin network.”

“They have only like a 80 or 85 employees. I believe that they've publicly said that the company's been profitable and they're selling a hardware product plus all of the software.”

“And I think at one point he was the single largest outside shareholder of Amazon and owned like 15%.”

“We issued a million dollar bet to anyone on Wall Street. And we were like, we'll take Bitcoin. You take any other asset, like just pick anything over the next 10 years. If you beat us, like you get a million bucks. If Bitcoin outperforms, we get a million buck…”

“BuzzFeed has over a thousand employees. They do four hundred million dollars in revenue, and the company's worth fifty million dollars in the public market.”

“And I think the same thing's going to happen here. Unfortunately, Is we're just going to continue to see a widening of that wealth inequality gap because the rich, right? And it's not even the top, it's like the top two percent understand how the game is playe…”

“The last team I worked on was something called the social good and goodwill team. And that team was tasked with a pretty interesting mandate, which was go do good things in the world using the size, scale, and advantage that Facebook has, but don't worry about…”

“The very first fund that I ever managed was about a three and a half million dollar micro VC fund. Maybe the biggest LP externally was like a hundred K. You're me and a buddy, and we're like, are we good at this? Do we like doing this? Can we do just enough mo…”

“The stock went from 51 cents, worth a couple hundred million dollar market cap at the time, to today the stock trades somewhere between three dollars and 30 cents and three dollars and 50 cents.”

“There's over ten billion dollars that have flowed into these assets.”

“And so he was the first public company that wasn't like a crypto miner or something like that to go and say, I'm going to put like 85% of my balance sheet into Bitcoin.”

“Julian was like, hey, this kid, Chase Coleman, who now runs Tiger Global, he's leaving. I'm gonna give him some money. And he sent him down to go talk to Mark and Mark gave like the sixth and seventh million dollar to Chase Coleman to start Tiger Global.”

“He sat with us for an hour and just kept berating me with questions and just trying to actually understand Bitcoin and blockchain technology and all these things.”

“There's a book that I recently read where he was the only investor to outperform the S and P 500 for 10 years straight in the nineties.”

“With Bay Area times, it was just me and him from February until two weeks ago. There was no employees. There was no anything.”

“Barry at times is very quickly going to become bigger than the pomp letter.”

“One example, we've got a business in the employment sector. We've helped over 3000 people get a job in the last two years.”