Episode

#451: Mike Novogratz on Investing, Bitcoin, Ayahuasca, and Running Through The Sahara Desert
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1:33:24
Published: Wed Aug 05 2020
Description

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.*This episode is brought to you by Magic Spoon Cereal! Magic Spoon is a brand-new cereal that is low carb, high protein, and zero sugar. It tastes just like your favorite sugary cereal. Each serving has 12g of protein, 3g of net carbs, 0g of sugar, and only 110 calories. It’s also gluten free, grain free, keto friendly, soy free, and GMO free. And it’s delicious! It comes in your favorite, traditional cereal flavors like Cocoa, Frosted, and Blueberry.Magic Spoon cereal has received a lot of attention since launching last year. Time magazine included it in their list of Best Inventions of 2019, and Forbes called it “the future of cereal.” My listeners—that’s you—get free shipping and a 100% happiness guarantee when you visit MagicSpoon.com/TIM and use code TIM.*This episode is also brought to you by Four Sigmatic and their delicious mushroom coffee featuring lion’s mane and chaga. It tastes like coffee, but there are only 40 milligrams of caffeine, so it has less than half of what you would find in a regular cup of coffee. I do not get any jitters, acid reflux, or any type of stomach burn. It’s organic and keto friendly, plus every single batch is third-party lab tested.You can try it right now by going to FourSigmatic.com/Tim and using the code TIM. You will receive up to 39% off on the lion’s mane coffee bundle.  Simply visit FourSigmatic.com/Tim. If you are in the experimental mindset, I do not think you’ll be disappointed. *This episode is also brought to you by LMNT! What is LMNT? It’s a delicious, sugar-free electrolyte drink-mix. I’ve stocked up on boxes and boxes of this and usually use it 1–2 times per day. LMNT is formulated to help anyone with their electrolyte needs and perfectly suited to folks following a keto, low-carb, or Paleo diet. If you are on a low-carb diet or fasting, electrolytes play a key role in relieving hunger, cramps, headaches, tiredness, and dizziness.LMNT came up with a very special offer for you, my dear listeners. They’ve created Tim’s Club: Simply go to DrinkLMNT.com/TIM, select “Subscribe and Save,” and use promo code TIMSCLUB to get the 30-count box of LMNT for only $36. This will be valid for the lifetime of the subscription, and you can pause it anytime.***If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes? It takes less than 60 seconds, and it really makes a difference in helping to convince hard-to-get guests.For show notes and past guests, please visit tim.blog/podcast.Sign up for Tim’s email newsletter (“5-Bullet Friday”) at tim.blog/friday.For transcripts of episodes, go to tim.blog/transcripts.Interested in sponsoring the podcast? Please fill out the form at tim.blog/sponsor.Discover Tim’s books: tim.blog/books.Follow Tim:Twitter: twitter.com/tferriss Instagram: instagram.com/timferrissFacebook: facebook.com/timferriss YouTube: youtube.com/timferrissPast guests on The Tim Ferriss Show include Jerry Seinfeld, Hugh Jackman, Dr. Jane Goodall, LeBron James, Kevin Hart, Doris Kearns Goodwin, Jamie Foxx, Matthew McConaughey, Esther Perel, Elizabeth Gilbert, Terry Crews, Sia, Yuval Noah Harari, Malcolm Gladwell, Madeleine Albright, Cheryl Strayed, Jim Collins, Mary Karr, Maria Popova, Sam Harris, Michael Phelps, Bob Iger, Edward Norton, Arnold Schwarzenegger, Neil Strauss, Ken Burns, Maria Sharapova, Marc Andreessen, Neil Gaiman, Neil de Grasse Tyson, Jocko Willink, Daniel Ek, Kelly Slater, Dr. Peter Attia, Seth Godin, Howard Marks, Dr. Brené Brown, Eric Schmidt, Michael Lewis, Joe Gebbia, Michael Pollan, Dr. Jordan Peterson, Vince Vaughn, Brian Koppelman, Ramit Sethi, Dax Shepard, Tony Robbins, Jim Dethmer, Dan Harris, Ray Dalio, Naval Ravikant, Vitalik Buterin, Elizabeth Lesser, Amanda Palmer, Katie Haun, Sir Richard Branson, Chuck Palahniuk, Arianna Huffington, Reid Hoffman, Bill Burr, Whitney Cummings, Rick Rubin, Dr. Vivek Murthy, Darren Aronofsky, and many more. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Chapters
This podcast episode features a personal testimonial about the benefits of Four Sigmatic's mushroom coffee, including zero sugar, zero calories, and half the caffeine of regular coffee.
00:00 - 01:46 (01:46)
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Four Sigmatic
Summary

This podcast episode features a personal testimonial about the benefits of Four Sigmatic's mushroom coffee, including zero sugar, zero calories, and half the caffeine of regular coffee.

Episode
#451: Mike Novogratz on Investing, Bitcoin, Ayahuasca, and Running Through The Sahara Desert
Podcast
The Tim Ferriss Show
Every Friday, the speaker sends out a short email containing five bullet points that summarize the coolest things he's found that week, which can include apps, books, documentaries, supplements, gadgets, self-experiments, hacks, and tricks from around the world, including topics such as the hormone aldosterone and the effects of insulin on the body.
01:46 - 06:42 (04:55)
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podcasts
Summary

Every Friday, the speaker sends out a short email containing five bullet points that summarize the coolest things he's found that week, which can include apps, books, documentaries, supplements, gadgets, self-experiments, hacks, and tricks from around the world, including topics such as the hormone aldosterone and the effects of insulin on the body. The speaker also promotes Element, an electrolyte drink formulated for those on a keto, low-carb, or paleo diet.

Episode
#451: Mike Novogratz on Investing, Bitcoin, Ayahuasca, and Running Through The Sahara Desert
Podcast
The Tim Ferriss Show
The host of a podcast discusses how he has met some of his amazing guests through his Five Bullet Friday subscribers.
06:42 - 11:41 (04:59)
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Podcast
Summary

The host of a podcast discusses how he has met some of his amazing guests through his Five Bullet Friday subscribers. He also shares an anecdote about buying striped pants in LA and how nobody in New York was wearing them.

Episode
#451: Mike Novogratz on Investing, Bitcoin, Ayahuasca, and Running Through The Sahara Desert
Podcast
The Tim Ferriss Show
Mike Novogratz, a former billionaire investor, reflects on his personal failures and how it has built his confidence today.
11:41 - 20:22 (08:41)
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Mike Novogratz
Summary

Mike Novogratz, a former billionaire investor, reflects on his personal failures and how it has built his confidence today. He acknowledges his failed investments and Princeton experiences as stepping stones to his success.

Episode
#451: Mike Novogratz on Investing, Bitcoin, Ayahuasca, and Running Through The Sahara Desert
Podcast
The Tim Ferriss Show
The guest discusses how small traumas can have a lasting psychological impact and shares a personal experience of feeling like he may never work again after leaving a high-pressure job.
20:22 - 28:16 (07:53)
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Trauma
Summary

The guest discusses how small traumas can have a lasting psychological impact and shares a personal experience of feeling like he may never work again after leaving a high-pressure job.

Episode
#451: Mike Novogratz on Investing, Bitcoin, Ayahuasca, and Running Through The Sahara Desert
Podcast
The Tim Ferriss Show
The speaker discusses how he found mentorship through unconventional means, leading to various opportunities and accomplishments.
28:16 - 32:41 (04:25)
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Mentorship
Summary

The speaker discusses how he found mentorship through unconventional means, leading to various opportunities and accomplishments.

Episode
#451: Mike Novogratz on Investing, Bitcoin, Ayahuasca, and Running Through The Sahara Desert
Podcast
The Tim Ferriss Show
The speaker discusses the importance of discerning intuition from overconfidence in asset management and how it ties in with competitiveness.
32:41 - 36:35 (03:54)
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Asset Management
Summary

The speaker discusses the importance of discerning intuition from overconfidence in asset management and how it ties in with competitiveness.

Episode
#451: Mike Novogratz on Investing, Bitcoin, Ayahuasca, and Running Through The Sahara Desert
Podcast
The Tim Ferriss Show
The speaker discusses his investment strategy, which involves buying stock while simultaneously selling calls on it.
36:35 - 44:03 (07:27)
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Investing
Summary

The speaker discusses his investment strategy, which involves buying stock while simultaneously selling calls on it. He also talks about the role of intuition in investing and how it can lead to anxiety.

Episode
#451: Mike Novogratz on Investing, Bitcoin, Ayahuasca, and Running Through The Sahara Desert
Podcast
The Tim Ferriss Show
The guest speaker of the podcast reflects on her Catholic upbringing, which involved a big, loving extended family despite being non-linear like Memento.
44:03 - 50:30 (06:26)
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Family
Summary

The guest speaker of the podcast reflects on her Catholic upbringing, which involved a big, loving extended family despite being non-linear like Memento.

Episode
#451: Mike Novogratz on Investing, Bitcoin, Ayahuasca, and Running Through The Sahara Desert
Podcast
The Tim Ferriss Show
The small traumas of life can have just as much impact as big traumas, leading individuals to develop coping mechanisms that may not always be the most healthy.
50:33 - 56:49 (06:15)
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Trauma
Summary

The small traumas of life can have just as much impact as big traumas, leading individuals to develop coping mechanisms that may not always be the most healthy. These can come from something as simple as receiving a low grade on a test or trying to meet the expectations of a parent who wants their child to be the "special one."

Episode
#451: Mike Novogratz on Investing, Bitcoin, Ayahuasca, and Running Through The Sahara Desert
Podcast
The Tim Ferriss Show
The speaker advocates for the use of psilocybin and ayahuasca to process trauma and improve one's mental health.
56:49 - 1:01:18 (04:29)
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Mental Health
Summary

The speaker advocates for the use of psilocybin and ayahuasca to process trauma and improve one's mental health. He poses the question of whether or not these hallucinogens can benefit anyone, barring those with bipolar mental health issues.

Episode
#451: Mike Novogratz on Investing, Bitcoin, Ayahuasca, and Running Through The Sahara Desert
Podcast
The Tim Ferriss Show
A personal reflection on the mantra "Act Like Dad, Don't Act Like a Jackass" and how the strive to do things right is often built into our DNA.
1:01:18 - 1:06:22 (05:04)
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Personal Development
Summary

A personal reflection on the mantra "Act Like Dad, Don't Act Like a Jackass" and how the strive to do things right is often built into our DNA.

Episode
#451: Mike Novogratz on Investing, Bitcoin, Ayahuasca, and Running Through The Sahara Desert
Podcast
The Tim Ferriss Show
In this podcast, the speaker discusses what advice her future self might give to her current self and shares a personal story about a charitable donation she made.
1:06:22 - 1:11:49 (05:26)
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Self-improvement
Summary

In this podcast, the speaker discusses what advice her future self might give to her current self and shares a personal story about a charitable donation she made.

Episode
#451: Mike Novogratz on Investing, Bitcoin, Ayahuasca, and Running Through The Sahara Desert
Podcast
The Tim Ferriss Show
The US justice system sees 5 million people going to prison every year, with 2.5 million of them being sent there for violating parole.
1:11:49 - 1:19:26 (07:37)
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Justice System
Summary

The US justice system sees 5 million people going to prison every year, with 2.5 million of them being sent there for violating parole. The podcast discusses the need for reform and how to engage all parties to improve the system, including getting the police department to have fair data in how they police.

Episode
#451: Mike Novogratz on Investing, Bitcoin, Ayahuasca, and Running Through The Sahara Desert
Podcast
The Tim Ferriss Show
The speaker discusses the importance of friendships to him and how they function similarly to a whiteboard, allowing him to process his thoughts and ideas.
1:19:26 - 1:25:16 (05:49)
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Friendships
Summary

The speaker discusses the importance of friendships to him and how they function similarly to a whiteboard, allowing him to process his thoughts and ideas. He also mentions the story of a person who committed suicide after losing his portion, two years after writing a book on the topic.

Episode
#451: Mike Novogratz on Investing, Bitcoin, Ayahuasca, and Running Through The Sahara Desert
Podcast
The Tim Ferriss Show
Learn about Element electrolyte powder, free from sugar and artificial ingredients, and perfect for those on low carb or paleo diets.
1:25:16 - 1:31:05 (05:49)
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Health and Wellness
Summary

Learn about Element electrolyte powder, free from sugar and artificial ingredients, and perfect for those on low carb or paleo diets. Also, sign up for Five Bullet Fridays, a quick weekly email with fun and interesting tidbits.

Episode
#451: Mike Novogratz on Investing, Bitcoin, Ayahuasca, and Running Through The Sahara Desert
Podcast
The Tim Ferriss Show
Enjoy the amazing taste of Four Sigmatic's lion's mane coffee that is zero sugar, zero calories, and easy on the stomach with an exclusive offer.
1:31:06 - 1:33:15 (02:09)
listen on Spotify
Four Sigmatic
Summary

Enjoy the amazing taste of Four Sigmatic's lion's mane coffee that is zero sugar, zero calories, and easy on the stomach with an exclusive offer. Each batch is third party lab tested for safety and quality, making it a great choice for coffee lovers.

Episode
#451: Mike Novogratz on Investing, Bitcoin, Ayahuasca, and Running Through The Sahara Desert
Podcast
The Tim Ferriss Show