#451: Mike Novogratz on Investing, Bitcoin, Ayahuasca, and Running Through The Sahara Desert

Podcast Notes Key Takeaways When at Princeton, Mike rubbed shoulders with students who came from rich and successful families but he realized every person, no matter their status, are fundamentally the same:“I quickly realized that rich guys, middle class guys, they all use the same toilet to shit, and that part gave me a lot of confidence in life. That I could compete in essence…that I could compete with anybody.” – Mike Novogratz “One of my insights was sometimes the little trauma, 10 years, 20 years, 30 years later, can have just as much psychological distress as big trauma” – Mike NovogratzHaving siblings keeps you in balance. They care for you when things are bad and keep you in check when things are good: “It’s safety on the downside, it’s humbling on the upside” – Mike Novogratz“Bitcoin is really becoming a store of value. They only become a store of value when people believe they are so it’s a belief system. Bitcoin is not just the code, it’s really the social construct.” – Mike Novogratz“One of the things we need to do as a society is to accept that people have mental health issues. Depression is real and that people have shit to work through and we should help them” – Mike NovogratzAyahuasca and psilocybin should be destigmatized because they’re powerful tools that can help people deal with mental health   “The prison system is just absolutely unfair and it preys on communities that are already in duress” – Mike Novogratz“95% of women in prison have been raped. So we’re taking people that have been traumatized and putting them into a trauma machine.” “We need a complete overhaul”

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Mike Novogratz on Investing, Bitcoin, Ayahuasca, and Running Through The Sahara Desert | Brought to you by Magic Spoon, Four Sigmatic, and LMNT.

Michael Novogratz (@novogratz) is the founder and CEO of Galaxy Digital. He was formerly a partner and president of Fortress Investment Group, LLC. Prior to Fortress, Michael spent 11 years at Goldman Sachs, where he was elected partner in 1998. Michael served on the Federal Reserve Bank of New York’s Investor Advisory Committee on Financial Markets from 2012–2015. Michael serves as the chairman of The Bail Project and has made criminal justice reform a focus of his family’s foundation. He also serves as the chairman of Hudson River Park Friends, and sits on the boards of NYU Langone Medical Center, Princeton Varsity Club, Jazz Foundation of America, and Artists for Peace and Justice. Michael received an AB in Economics from Princeton University, and served as a helicopter pilot in the US Army.

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