Fighter Pay as Decentralization, and the Elon Crash Recovery

• 30:01Tim describes decentralization in fighting as similar to Uber disrupting taxis—someone has to change the model, even though it takes time.
• 30:48The comparison to LeBron James: he makes a billion dollars, but how much money is he generating for team owners, and how do athletes gain control?
• 31:28Tim questions whether the decentralized model works for every athlete, noting that not all fighters have the attention-grabbing ability of his guest.
• 32:06Tim jokes that bitcoin is basically trying to steal the Federal Reserve's hat, just like cryptocurrency junkies are trying to get Jerome Powell's hat.
• 32:28Bitcoin and fighter independence serve the same function: if you're locked into one system with no options, that's not good—both offer choice and opportunity.
• 32:45Elon's tweet caused massive value loss in crypto in a single day; Tim asks what the guest attributes the crash to and how he emotionally responded.
• 33:07Tim calls the guest stoic and asks directly whether he panicked, texted someone, or just went for a 19-mile run during the crash.
• 33:18Tim interjects that he hates the Olympics, derailing a question about whether his guests are olympians.
• 33:35Bitcoin has died 400 times in the press over ten years—the FUD about dark markets, Jamie Dimon calling it fraud, Warren Buffett calling it rat poison, and it keeps recovering.
• 33:56They predicted bitcoin at 500k last summer when it was trading at 13k; it ran up to 60k and crashed to 35k, still vastly better than where it started.
• 34:22The guests don't watch the price much because they know where bitcoin is heading long-term and don't get caught up in short-term turbulence.
• 34:34Tim notes that some people in the room have borrowed against their bitcoin or leveraged it, so the price crash hits through stops and amplifies the decline, though it always recovers.

BitcoinJerome PowellLeBron JamesWarren BuffettJamie DimonElon MuskBig Sean