Michael Hyatt

044. BEST OF SPEAKING OF CRYPTO 2018 — PART TWO

The best of the best – 2! Blockchain experts share their ideas in this second part of the Best of Speaking of Crypto 2018 podcast.

038. 5×5 – Five Questions. Five Guest Interviews.

“Most people can’t keep showing up to anything. I think that your ability to show up and keep showing up and, and outwork, everybody else is everything. I also want to comment that I think for young people listening to this podcast in their 20s and they’re getting going, there’s this horrible pressure that I did not have that they have that you have to be part of a startup be crazy successful, have a non-profit, intern at the White House… stop it. Slow down. Do one thing well.”

– Michael Hyatt

What if I could get five of the coolest, forward-thinking, big-picture seeing, crypto dynamos together in one place and pick their brain about things that are blockchain related, and not?

I’d want to ask them about some challenges that they’ve overcome. I’d ask if someone’s new to crypto, where should they start to wrap their head around Bitcoin, blockchain and this whole new crypto world. And I’d want to know what’s most important, from their perspective — Love, Money or Influence.

Well, in this compilation podcast, I’m bringing you five different podcast guests who’ve all answered the same five questions.

 

1. If someone’s completely new to the world of cryptocurrencies and blockchain technology, what would you like them to know?
2. Looking back, what was one of the most challenging things you faced in your career and how were you able to overcome it?
3. What would you say is the most important character trait that someone who’s about to enter the workforce should possess?
4. If you could create your own city or town, what are three key elements you would want to include?
5. LOVE, MONEY, + INFLUENCE — can you rank them in order of importance and explain?

Guests:

Sandra Ro
https://www.linkedin.com/in/sandraro/

CEO of the Global Blockchain Business Council
https://gbbcouncil.org/

Bruce Silcoff
https://www.linkedin.com/in/brucesilcoff/

CEO of Shyft Network
https://www.shyft.network/

Hartej Sawhney
https://www.linkedin.com/in/hartej/

Co-founder of Hosho
https://hosho.io/

Michael Hyatt
https://www.linkedin.com/in/michaelhyatt1/

Co-founder of Blue Cat
https://www.bluecatnetworks.com/

Bernie Moreno
https://www.linkedin.com/in/bernie-moreno-4251884/

Blockland Cleveland
https://www.blocklandcleveland.com/

029. Building a Tech Business and Investing in a Blockchain Future with Michael Hyatt

“The companies I will suggest in the next 2 to 3 years that are going to make it are ones that have a real blockchain product with real utility that people really need and they’re getting real quality advantage out of, like any other company. And 2017 was the year of FOMO which is ‘I’m going to miss out so I better buy it’ 2018 is like ‘woah what happened here, hold on here I think we have to go find something real’ and 2019 I think is going to be the year of prove it. ‘Prove you’ve got something. Oh, you’re going to raise a coin? I’ve heard that story. OK what is it really that you’re doing?”.

Michael Hyatt has built incredibly successful tech business and he’s been in business since before the days of the internet. He’s got first-hand knowledge of where the internet and computer technology came from and educated and experienced insight as to where blockchain tech is going.
https://twitter.com/mhyattspeaker

So where is it going? Michael talked about a creative destruction phase or a nuclear winter, much like we’re seeing now. But he believes that the future is bright. He thinks “the Facebook of cryptocurrency hasn’t been born” but that we’ll see real businesses with important use cases coming to the forefront after the fallout from the hype around cryptos and all the betting on the promises of ICOs that have never delivered, and won’t.

He talks about the crypto space mirroring the real world. People talk about there being a new paradigm, but Michael doesn’t buy it, not were businesses and investments are concerned. He says it all comes down to the fundamentals. Is there a viable business? Are these the people who can deliver what they’re promising? And is there something backing the crypto or blockchain investment that has real value.

“If you’re starting a company, whether it’s a crypto company or any kind of company, I don’t think it matters. I think what matters is that you have to be in it for 10 or 15 years and build to win not build to sell or build to flip.”

He says when you’re buying part of an ICO, you’re buying a Kick Starter, that really, you’re buying a promise that it’s going to be useful, but that very few companies have delivered on their promises.

With Ethereum, he says that something big has to happen. When Ethereum can be used as part of some revolutionary tool, an app that changes the way things are done in the financial world or the medical world, if it can change the way were doing things now then the value will really go up. But, whether it’s Ethereum or some other blockchain technology that transforms the way we’re doing things now, there needs to be broad based adoption and a global understanding of the new technology’s value. Then and only then will there be the Crypto or Blockchain Facebook or Google or Apple.

Michael mentions the collapse of the condo market in Miami as a historic example that may be similar to what we’re seeing the crypto right now. Condos that were overpriced, plummeted in cost, but there was a point when buyers and investors saw that condos still held a certain value. So, while he doesn’t believe Bitcoin is digital gold. He does believe there is a value and that the public will figure out what it is.

I ask Michael about his affiliation with Rotman’s Creative Destruction lab, which he is completely impressed by, saying that he’s in a place where he’s surrounded by big thinkers and intelligent innovators.
https://www.creativedestructionlab.com/

Michael talks about being an advisor to Polymath. He’s excited about security tokens and believes in Trevor Koverko. https://twitter.com/trevorkoverko

He also believes in the idea of tokenizing securities like art, paintings, wine, or buildings that have a that have an inherent value and supports the idea of these securities, that aren’t big enough to go public, can also draw in non-accredited investors who would like to put their money into something, but maybe don’t have the financial wealth to be able to pour in large amounts of money in order to be able to see a return on their investment.

One of the other topics we hit on is regulation. His point of view is that regulation makes the market real. It’s there to stop companies from lying and cheating people and that regulation entering the picture is a healthy thing. Essentially the regulators will sort and sift through what’s being offered and cut out the crap.

Michael is also a regular contributor to The Pitch Podcast.
https://player.fm/series/series-1451959