In this episode, I spoke with entrepreneur and writer Michael Ruiz. Michael has been a long-time Bitcoin proponent who raised concerns years ago about the lack of a Bitcoin circular economy and capture by large financial interests. When El Salvador made Bitcoin legal tender, Michael decided to visit and is now moving to the country while building multiple businesses. He shared this journey in detail during the episode.

If you enjoy this episode, make sure you subscribe, leave a reivew, and send a boost on Fountain!

Timestamps:

(1:31) Michael's experience with El Salvador and what's happening on the ground

(4:23) El Salvador is attracting sovereign individuals

(7:29) How Michael's father moved to the US from Honduras for the American Dream and El Salvador is now trying to revive the American Dream

(9:00) Will other countries try to emulate the El Salvador model?

(14:31) Safety in El Salvador and Bukele's miraculous turnaround on crime

(18:45) Bitcoin adoption is not the BIG story in El Salvador yet - the crime turnaround is

(22:00) Why Bitcoin is being used less by regular people in El Salvador than you might expect

(27:45) Why it's psychologically hard to spend Bitcoin

(41:00) What type of Lightning wallets are people using to transact in El Salvador

(42:50) Bitcoin education in schools to create bottom up adoption

(48:00) Michael's businesses and how he's building in El Salvador

(54:00) Why Neil is interested in El Salvador

(1:00:30) How the visa situation works in El Salvador

Links and Resources

Bitcoin mining in Africa

El Salvador is the new Venice

Bitcoin is the new Venice

Allen Farrington

"Is Your Government Secretly Mining Bitcoin" - Adventure Capitalist podcast

Tucker Carlson interview with Nayib Bukele

Layered Money by Nik Bhatia

Outside The System episode with Nik Bhatia

Nakamoto Express

In this episode, I spoke with my good friend (and podcast co-host at Made You Think!) Nat Eliason. His book Crypto Confidential is about his journey into the world of crypto and is one of the best narrative non-fiction books I've ever read. We discussed Nat's crypto experience, his journey as a writer, fiction vs non-fiction, health, and of course went on many tangents.

If you enjoy this episode, make sure you subscribe, leave a review, and send a boost on Fountain!

Timestamps

(2:18) What motivated Nat to tell his crypto journey story in a raw way?

(7:30) What Harry Potter spells teach us about how to learn

(9:05) The difference between an outsider writing a crypto book vs an insider

(13:30) Overview of Nat's experiences that led to writing Crypto Confidential

(17:15) What made Nat stop playing in the crypto casino

(20:45) How luxury goods have held their value more than most crypto projects

(23:07) Why Crypto Confidential is not a warning to avoid getting caught up in manias but rather that you need to be careful if you do. The importance of going all-in.

(24:30) Why buying at the right time isn't the hard part. Selling at the right time is the hard thing.

(32:00) Hacking smart contracts and common mistakes. How Nat lost $30,000 while eating dinner

(43:45) Recapping the NFT hype cycle and the future of NFTs

(49:25) The pain of unclear tax rules in crypto

(1:02:03) Science illiteracy in the health influencer space

(1:08:00) The sleeplessness of crypto vs sleeplessness of having a newborn

(1:11:50) Studying fiction storytelling techniques to improve non-fiction writing

(1:23:00) The advantage of working with a traditional publisher

Links and Resources

Order Crypto Confidential on Amazon

Nat's blog

Nat's Twitter

Made You Think podcast

Harry Potter and the Secret to Learning blog post

The Smartest Guys In The Room (about the Enron scandal)

Fear and Loathing in Las Vegas by Hunter S. Thompson

Bitcoin's past infinite printing hacks

In this episode, I spoke with Kris Newby, the author of Bitten: The Secret History of Lyme Disease and Biological Weapons. You may be skeptical about the premise of this book but I promise there is a lot more here than a baseless conspiracy theory. Kris has top tier technical credentials and spent a large chunk of her career at Stanford. Much of her book is based on primary research, which involved Freedom of Information Act (FOIA) requests and interviews with individuals directly involved in the biological weapons program. Most importantly, her work shows that the tragedy of Lyme disease in our medical system isn’t some movie-like conspiracy but instead, mostly made up of good people operating under bad incentives. I’ve linked to a lot of material in the show notes so check those out if you’re inclined to dig deeper.

If you enjoy this episode, make sure you subscribe, leave a review, and send a boost on Fountain!

Timestamps

(2:25) How Kris and her family were personally affected by Lyme Disease

(8:30) Overview of Lyme Disease

(10:30) Willy Burgdorfer and his connection with Lyme Disease

(17:26) How the US bug-borne weapons program came about and what they worked on

(25:00) The misaligned incentives in government funding that create opportunity for self-inflicted harmful experiments

(32:00) The strange circumstances surrounding "The Swiss Agent"

(36:58) How a change in patent law complicated the treatment of Lyme Disease

(39:05) Lyme Disease as the prequel to COVID-19

(41:05) Science, especially in Lyme Disease, is a small club that doesn't encourage thinking outside of the established paradigm. Similarities to Alzheimer's Disease research.

(45:54) How the incentive structure of the medical-industrial complex discourages simple treatments. Similarities to COVID-19 vaccination incentive vs possible treatments.

(49:44) The incentive structure that encourages the denial of chronic disease and even penalizes physicians who come up with effective treatments using cheap antibiotics

(52:04) The suppression of Bitten by NIH and other influential groups

Links and Resources

The Bitten Files - Substack

Bitten: The Secret History of Lyme Disease and Biological Weapons

Project 112 - Wiki

Plum Island

Willy Burgdorfer

The Swiss Agent

Lyme Disease Cabal Primary Research Document Cloud (Part 1)

Lyme Disease Cabal Primary Research Document Cloud (Part 2)

Under Our Skin (documentary)

Kris Newby website

Cat Scratch Disease article

Lead Poisoning article

Cure Unknown: Inside the Lyme Epidemic by Pam Weintraub

In this episode of Outside The System, I spoke with Eric Jorgenson, an author and investor, whose latest book is The Anthology of Balaji, a collection of wisdom, ideas, and quotes from technologist Balaji Srinivasan. Balaji is an electrical and chemical engineer, investor (Andreesen Horowitz), and successful entrepreneur, notably in both biotech (Counsyl) and cryptocurrency (Earn.com), which led to him becoming Coinbase's first CTO (post-Earn.com acquisition). The Anthology of Balaji packs a huge punch on a wisdom per word basis and is well worth your time.  

If you enjoy this episode, make sure you subscribe, leave a review, and send a boost on Fountain!

Timestamps

(3:00) Our shared love for Where Is My Flying Car and how it has influenced Balaji's philosophy

(4:55) The differences and similarites between The Anthology of Balaji and The Almanck of Naval Ravikant. How the books feel like being at a long dinner with Balaji (or Naval) and you're both at your best and are able to get deep but succinct answers to all the questions you've had for them

(7:45) The moral importance of technology and the benefits that come from it

(12:03) When Balaji is wrong, it's because he over-extrapolated instead of under-extrapolated 

(21:08) Tracing the path of technological innovations and how they get adopted

(26:07) Self-measurement devices leading to personalized supplements and nutrition

(30:05) Bro science vs medical science

(41:30) The moral case for innovation. One example: saving people time extends their lifespan

(43:00) The media is incentivized for doom and gloom, so they make technology sound more dystopian and risky instead of a way to literally extend your life and make you powerful

(49:20) Decentralized media (social media) leads to different problems than centralized media

(49:53) How the FDA has lost the plot, and instead of curing diseases, its goal now seems to be to perpetuate itself. If you were designing the FDA from scratch today, it would probably look very different

(53:20) The beauty of the American governmental system and how federalism allows experimentation

(56:30) Discussion on Balaji's book The Network State

(1:00:53) Eric's pitch for making the United States a frontier nation again

(1:02:30) How writing this book influenced Eric personally and professionally

(1:11:42) Getting Eric's podcast Smart Friends on podcasting 2.0 to enable value-for-value

Links & Resources:

Eric's website

Smart Friends, Eric's podcast

Balaji Srinivasan's biography

The Anthology of Balaji by Eric Jorgenson

Where Is My Flying Car by J. Storrs Hall

TFTC Podcast - The Fiat Crisis with Balaji

Nik Bhatia's Outside The System episode about Layered Money

Aleks Svetski's Outside The System episode about the Three Generation Theory of Bitcoin

Elo Health - smart protein and supplements

The Systems Bible

The Network State: How To Start A New Country by Balaji Srinivasan

In this episode, I spoke with my friend John Ganotis. John is the creator of a popular iPhone app called Pee & See (the number one number one app!) which helps users measure their hydration and health. John’s progression and journey as an independent creator is super inspiring to me. When he was in middle school, he created a YouTube esque show before YouTube was a thing, that somehow made it to TV. John is also a DJ and you can find links to his mixes in the show notes.

If you enjoy this episode, make sure you subscribe, leave a review, and send a boost on Fountain!

Timestamps

(2:12) - John Ganotis, the creator of the popular iPhone app Pee & See, talks about his innovative approach to hydration tracking, focusing on output rather than input. He discusses the development of the app, how it came about, and how it is helping people improve their health.

(12:08) - John shares insights about the development process of Pee & See, including its original creation as a website and its evolution into an iPhone app. He details how the app saves data privately, creating a low-effort journal of users' lives.

(19:23) - John recalls his journey of getting a show on public access television, beginning with a YouTube-like show in middle school. He discusses the challenges of digital editing and the value of these early entrepreneurial experiences.

(29:13) - John discusses his first career venture as a high schooler and the lessons he learned about taking risks and avoiding a traditional nine-to-five job. He reflects on how these experiences helped him become more confident in undertaking independent projects.

(36:43) - John talks about embracing the idea of being a solo entrepreneur and the benefits it brings, such as infusing projects with personal character and building a strong rapport with users. He discusses the development of self-service tools for users and his thoughts on customer service.

(45:24) - John shares his journey into DJ-ing, starting with Logic Pro and transitioning to an iPad and a physical controller. He discusses his experiences with podcasting and website projects, and his decision to pursue his own independent projects.

Resources

Pee & See (John's hydration tracking app)

John's Twitter

John's YouTube

John's Deep House Mix #1

John's Deep House Mix #2

In this episode, I spoke with David Montgomery and Anne Biklé, the authors of What Your Food Ate: How to Heal the Land and Reclaim our Health. I don't mean this lightly - What Your Food Ate is the most impactful book I've read in a long time.

The central premise is that the quality of your food is determined by what your food is eating. Plants get their nutrients from the sun, water, and soil. Animals get their nutrients primarily from the plants they're eating. Simple enough. But understanding this simple concept has completely changed how I think about things like organic produce, high quality meat, and so much more. 

If you enjoy this episode, make sure you subscribe, leave a review, and send a boost on Fountain! And make sure to buy the book! You can find a link in the show notes - if you buy through that link, it helps support the show. 

Timestamps

(2:35) David Montgomery and Ann Biklé, discuss their book "What Your Food Ate" and explore how soil quality and the diet of our food sources impact the nutritional value of our meals.

(4:30) Discover how different farming practices and the quality of soil directly influence the taste and nutritional value of fruits and vegetables.

(12:03) Delve into the concept of nutrient density and how a lack of information can mislead consumers about the true nutritional value of their food.

(18:30) Learn about the critical role soil health plays in providing more nutrients, vitamins, and phytochemicals in our food.

(24:14) - We explore the concept of legibility and its implications for food and agriculture, highlighting the need for a balance between nutritional information and simplifying food choices.

(30:00) - Understand the difference between nutrient deprivation and consuming fewer calories while maintaining essential nutrient intake, using the example of the English diet during wartime.

(37:02) - Dive into the topic of diet, biodiversity, health, and farming, exploring the findings of a Japanese study about the benefits of eating green and yellow vegetables.

(41:52) - Learn about the increasing popularity of regenerative agriculture and the potential for it to become the standard of conventional farming.

(47:00) - Discover the environmental and economic benefits of regenerative agriculture, as well as the role of consumer demand in driving its adoption.

(49:58) - Understand the importance of knowing the source of your food and the potential pitfalls of the food industry cutting corners.

(54:30) - Learn about the biological wisdom of herbivorous animals and how modern farming practices impair their ability to self-medicate and balance their nutrition.

(58:30) - We wrap up the episode by highlighting the importance of soil fertility and agricultural reform in influencing the quality and nutrition of our food.

Links & Resources

What Your Food Ate book

Dig 2 Grow (David and Anne's website)

Gabe Brown on Outside The System

Calley Means on Outside The System

Kettle & Fire

Justin Mares

In this episode, I spoke with Joe Martin, a musician from the UK who is pioneeering how artists can leverage value-for-value and Bitcoin to connect directly with fans and take power back from record labels and platforms like Spotify. Joe gets into the details of how value-for-value has worked for him, where the pain points are, what the response has been from fans, and a lot more. At one point, Joe compares being a value-for-value artist to being a street performer, which stuck in my head since this podcast is also supported by value-for-value on podcasting 2.0 apps like Fountain. 

If you enjoy this episode, make sure you subscribe, leave a review, and send a boost on Fountain! 

Timestamps

(0:53) Joe's background and how he got into music as well as value-for-value

(8:05) How the standard artist business model works today

(10:27) What does a record label bring to an artist? 

(14:47) Why Joe believes we're at the start of a shift that will favor independent artists

(17:04) How streaming economics work for an independent artist and why it's usually a "loss leader" to get people to come to shows and buy merch

(20:50) The similarities between being an author and an artist. Cost effectiveness of printing books and printing t-shirts

(24:30) How Joe thinks about value-for-value, both in general and for himself as an artist

(28:55) Why nothing in life is free - you pay one way or the other

(31:47) Why people are already fine paying for a physical product like an album but there's a mental gap when buying a digital version of the same music

(33:17) How Bitcoin relates to value-for-value and makes it possible

(38:30) Joe's experience with value-for-value and how it has affected his career so far. How he made more in 7 days than he made in 7 years from streaming

(50:15) The psychology behind getting people into value-for-value music

(52:00) Incentivizing listeners to take actions like making clips or sharing music using value-for-value

(53:05) The best resources for a creator to get started with value-for-value

Links and Resources

Joe's Twitter

Joe's website

Joe's introduction to value-for-value

Kevin Rooke interviewing Joe Martin

Joe's new album Empty Passenger Seat

Joe's tour dates

Wavlake, a value-for-value music platform

Outside The System episode with Lyrah, another independent musician experimenting with new business models

Welcome back to Outside The System. Today’s episode is with Nik Bhatia, the founder of The Bitcoin Layer and the Author of Layered Money. We spent a good amount of time in this episode talking about the foundations of money, monetary hierarchies, historical money like gold, and where Bitcoin fits in. We also spoke about Nik’s opinions on self-custody, Bitcoin vs Ethereum and how Bitcoin’s fee structure compares to other forms of base layer money.

Nik is also doing a lot of work around Bitcoin education including teaching at the university level so his insights there are fascinating. Make sure you check out Layered Money and subscribe to The Bitcoin Layer! Links below. 

Timestamps

(2:11) The concept of layered money and the how forms of money are ranked. Layer 0 money has no balance sheet

(3:34) Nik's background and how he got into currency analysis

(13:07) How currencies stack against each other and what happened when the dollar-gold peg disappered

(18:52) What made gold the commodity that every society gravitated towards as a store of value

(24:45) Ethereum vs Bitcoin as money and why the Ethereum Foundation dimishes Ethereum's case

(25:30) Bitcoin's fee incentives to maintain the network vs the cost to using gold as the underpinning of the monetary system. How it took the German central bank years to get its gold back from the Federal Reserve - vs ~10 minutes with Bitcoin for final settlement

(29:03) Why just seeing the balance in a Bitcoin wallet isn't really that valuable. Why proof of reserves is misleading

(30:40) Why you should take your Bitcoin balance off exchanges if its not there for trading purposes. Not your keys, not your coins

(33:00) How to get your grandmother to self-custody - or get a third party custodian. More information about custodian services

(39:15) Companies holding Bitcoin and the implications

(42:12) Nation-state adoption of Bitcoin and how that affects their trajectories. How Bitcoin creates a more multi-polar world

(50:22) Nik's work in Bitcoin education 

Links and Resources

Nik's Twitter

The Bitcoin Layer

Layered Money

Germany paid 6.9 million Euros to get its gold back from the Fed and Bank of France

Aleks Svetski episode on Outside The System