How Jonathan Goodman Lost $1.6M in BTC — and the Four Pillars of Wealth That Saved Him
A Digital Asset News Sunday show discussing a major Bitcoin cold wallet hack, the lessons from one victim's story, and a framework for diversifying wealth across multiple asset classes.
Summary
The hosts of Digital Asset News — the main host and co-host Jerry Hall, joining from Costa Rica — discuss the case of Jonathan Goodman (spelled 'Jonathon' in the video metadata), who lost $1.6 million in Bitcoin due to a vulnerability in Coldcard hardware wallets that had been dormant since 2021. The hosts use Goodman's story, drawn from an interview he gave with Mauricio, as a springboard to examine his four-pillar wealth philosophy: real estate (including REITs and rental properties), traditional stocks managed by an adviser, gold and gold mining companies, and Bitcoin held in a Canadian TFSA (Tax-Free Savings Account) invested in QBTC — with a fourth, undisclosed pillar teased for the full video. A parallel case is also raised — a separate individual who moved $750,000 to an exchange after hearing about the hack, only to have it stolen via a compromised Google account and Google Authenticator. The hosts argue that AI-powered hacking tools are growing more sophisticated and that the appropriate response is both better institutional security and personal diversification across asset classes, storage methods, and jurisdictions. Jerry also shares that he has stopped dollar cost averaging into Tesla and Bitcoin and is accumulating cash in anticipation of a significant correction across crypto and traditional markets. The episode concludes with a Q&A covering specialty REITs (telecom tower land, healthcare and hospital facilities), investment advice for older investors, and an AI white-hat bounty concept.
Key Takeaways
FULL TRANSCRIPT
Introduction and Market Overview
Host: Hello everybody. Welcome to the Sunday show. We are back after a quick hiatus last week, as I had to travel, and we are of course joined as ever by Jerry Hall from Costa Rica. Jerry, how's things going?
Jerry Hall: Hey everybody. Buenas días. Happy Sunday to y'all.
Host: Happy Sunday. Couple more weeks and we'll be watching football and all that great stuff. But today we're going to do something a little bit different. We have talked about the markets and what is actually happening. There is quite a dichotomy — a split — between what people think is going to happen. Some people say that the four-year cycles will hold up and we'll see a collapse or a big pullback into October and November because of the midterm years. Other people are saying no, no, no, the bull market just started last week and if you didn't get in, you're so far behind. But as I see it, I just take a look at it and go, "Nobody really knows." We can make some good estimations. We can look at charts all day long, but I think there's something that really should be said coming back into it. That's why we're going to take a look at a video today about pillars of wealth — what we know that we know, what we know that we don't know, and the most frightening thing: the things that we don't know that we don't know. This will all make sense in a second.
Today the risk levels are at 0.4 for one. I'm not too happy, Jerry, that these risk levels are a little too high for my taste. I'd like it to be at the 0.1 or 0.2 at least, but we see a rocket just go up. Now, as you and I have been doing the same thing — essentially dollar cost averaging — I buy every single Monday, and as the price goes down, I double, quadruple, or 8x my actual buys. I've been doing that for about six or seven months now. I still think we can go down, but it doesn't really matter, because if it goes down I just have to buy more, and if it goes up, I'm going to stop. I think for me, at the 0.5 level, if we get back around 90K, I'm going to stop dollar cost averaging. I've done my job and that's pretty much it.
But we're not going to talk about the markets themselves today. I want to go back and talk about this Coldcard hack. This is an important thing because we're going to take a look at a gentleman who lost everything, what this means, and how he was able to bounce back so quickly. I think it's a good lesson for everybody.
The Coldcard Hack — What Happened
So, if you don't remember, this is the Coldcard hack. Apparently, if you didn't roll enough dice for entropy to make it more safe, then you were out of luck. So far — and this number is going to go up, it can only go up — there was 1,400 Bitcoin lost. Now that we're at $77,450 per Bitcoin, that's over $108 million — $108,768,000 to be exact. Not a good thing.
Unfortunately, Jonathan Goodman, whose X profile I've linked, lost everything — $1.6 million. And he's got a great attitude. I always remember this because I thought it was just great about life and what's really important. He's sitting there saying, "Look, I just lost $1.6 million, but guess what? It's Sunday. I'm working out in my garage with my wife. My oldest son is my personal trainer. Two neighbours on the sidewalk playing with my other two kids. Wealth ain't Bitcoin."
Jerry, before we break this down — this was a great podcast with Mauricio, and I've linked the entire video, which is about 27 or 28 minutes — we're just going to go over four sections. But what's your philosophy on this one?
Jerry: I think he has his priorities correct. His pursuit of wealth is not his entire life. It was a part of, and still is a piece of, a larger whole. And the whole for him is family — that sits at number one. I'll bet you his dog and his personal trainer son aren't feeling the gravity of the loss, but they would if his attitude changed.
Host: Yeah. Exactly. So good for him. And boy, what a — well, we're going to go into the video. Thank you for sending it to me because it's crushing. It's freaking crushing. It's something that I always remember Warren Buffett said: you have to learn from mistakes, but they don't have to be your mistakes. This is a masterclass of things that everybody should take to heart about moving forward.
One of the things you're going to challenge yourself on is: am I really decentralised if I'm only into Bitcoin? Think about that as we go through this.
Jonathan Goodman's Story — Protecting Against the Same Vulnerability
So the first part here is pretty good. This is Jonathan just breaking down what happened. This clip itself is only 48 seconds, and all the clips together are about four and a half minutes. I'm going to let you watch the entire video to get the whole context, but we're just going to talk about this real quick. So listen to this part about what happened to Jonathan, as Mauricio does a great job of interviewing him.
Jonathan Goodman: "I was protecting against the same vulnerability in multiple different ways. I had air-gapped Coldcard devices — I had three different air-gapped Coldcard devices. They were all kept in a safety deposit box. I had the metal-stamped seed phrase thing. In every single case, I was protecting against some sort of loss or theft of my ciphers. A fire — if there was a fire, the metal things would have survived. A theft — I never told anybody the seed phrase. I kept it in a safety deposit box. But in every single case, I was protecting against the same vulnerability with multiple redundancies. The mistake that I made was I didn't recognise that there were multiple different kinds of vulnerabilities."
Host: Okay, so first of all, Jonathan doesn't talk that fast — I had that on a playback speed of 1.5. But this is exactly what happened. Jerry, do you remember this hack and how it all unfolded? I have to remind everybody — this is not just what Jonathan was saying. I remember watching videos and posts about this later. I had never heard of Coldcard before, and people were like, "You've never heard of Coldcard? That's crazy, because everybody talks about it and how great it was." And I'm like, I don't know who those people are, but apparently a lot of Bitcoin maximalists did.
And it's not just what Jonathan was saying. It was also stuff like this, and this is the thing that concerns me more. This is from a Bitcoin Maxi. He says: "A very close friend of mine, Coldcard MK4 user — after six years of suggesting Bitcoin to him, he finally allocated and went hard. Three-quarters of a million dollars, $750,000. He moved it all to a very well-known and solid Australian exchange less than 12 hours later because he heard about this hack, and then it was stolen." How did that happen? It happened because hackers already had access to his Google account, which in turn got them into his Google Authenticator. And if you don't know that your Google Authenticator has backups on the cloud — that if a hacker has your Gmail account, they have your authenticator — well, congratulations. There's something you didn't know that you didn't know. And if that's there, what else is there?
So Jerry, before we move on to the next catastrophe, what do you think about the overall video and Jonathan going out and talking about this?
Jerry: Okay, so the first thing — if my mom were still with us, rest her soul, I would say, "You were wrong, Mom." She'd look at me funny and I'd say, "I'm learning crime does pay. It just paid big time for those hackers."
Here's the thing. If I put this in a profit and loss kind of format, the things I know are far smaller than the things I don't know. And over the last couple of years I really have changed my attitude around my asset security. If my real estate deeds are safe with the county and a title company, if my stocks are safe with Charles Schwab and Fidelity, then why can't my crypto assets be as well? I have been withdrawing from MetaMask and Trust Wallets — I get nothing on Trust Wallet anymore. I'm doing a kind of strategic relocation to Coinbase, et cetera. I just don't want to be a victim to something that I did not see coming.
Host: And you know it's coming.
Jerry: Well, think about it this way. What tools did hackers and thieves have 150 years ago? A knife or a gun. Computers came along and all of a sudden — I can remember distinctly the credit card hacks in the late 80s and 90s. And then in this age of mega information that's transitioning into the age of intelligence, to think for one second that an AI can't go back over the last 25 years and exploit things that there was no way to really understand — if there was an exploit to be had — would be naive. The tools of a hacker or a thief or a nefarious actor are going to get better and better and better. They are. And they're going to be built by the very tools that we're using to create better and better content, better and better art, better and better everything.
Host: Better and better stupid cat videos on X. Exactly. These are the things that happen.
Jerry: It would go to your next piece. But that's what that video really brought home for me — that in this age of intelligence, these tools are far more intelligent than I. Therefore, what can supersede that? What can trump that? Well, things like financial institutions whose entire existence is predicated on security. If there was no security, Coinbase would be out of business tomorrow. So they're highly incentivised to be secure. Same with Schwab. Same with Fidelity. Same with the governmental element for the deed of ownership for my real estate. And all of those things can be taken to court if they fail. My Trust Wallet cannot. My MetaMask wallet cannot be taken to court if there's some exploit that gets found and used.
Host: It makes me wonder — you just talked about how Coinbase wouldn't have a position if they had an issue with security. Well, Coldcard is out there still doing it, still saying, "Hey, we've got a great product." I personally wouldn't use it, but whatever.
AI, Hacking, and the Next Unknown Threat
But that would lead me to the next piece. Like we just talked about, we're not going to be doomers and say AI is going to come here to destroy you. However, it's going to work its magic against you as much as possible. That is why I think you have a double-edged sword. AI can be used against you — and just in this article here from Decrypt or The Block, AI adoption in crypto crime rose 40% over the past year. That's for every type of crime you can get into. But if AI is going to be used against us, we can actually use AI. And the companies that do these types of wallets should definitely be using AI. I believe Coldcard even came out and said, "Look, we had AI take a look at all of our code and all the things we were doing, and now we feel that we are 100% okay." Wish they would have done that a couple of months ago, but hey, here we go.
Now let's talk real quick — Jonathan is going to lay this out. What's the next catastrophe? And again, it's not what you know, it's not what you know you know, it's not what you know you don't know — it's what you don't know that you don't know that is really going to be a problem. Listen to this.
Jonathan Goodman: "My question — and here's what's throwing me for a loop, Mauricio — is: what's next? It's not going to be something that's happened before, and it could be something that's sitting dormant right now. This has been sitting dormant since 2021. What's coming out now is that there was this one Chinese AI that didn't have the same guardrails as OpenAI and Claude to be able to inspect code for vulnerabilities. That's how people are saying they probably found this — you know, OpenAI and Claude, if you basically give them a code base and say 'find a vulnerability,' they say, 'I can't do that, that's not something I do.' But this Chinese one came out with an update the Monday before this hack happened — I might have the dates a little bit wrong — and it's very likely that whoever these thieves are, wherever they are in the world, used this thing and basically said, 'Here's a whole whack of code bases. Find me anything that's going to allow me a backdoor.'"
Host: This is why everybody should learn how to use AI. This is why companies should be implementing this, and should have done it yesterday. And it's not just that — it's not just the code that the US government can shut down, which is what they did with Anthropic when they had those files that were essentially hacked into. But this was from CoinDesk yesterday: a mysterious new AI model called ZeroX Alpha is reportedly beating Claude 5 and GPT 5.6 from OpenAI at coding, and nobody knows who built it.
So moving forward, Jerry, what are your thoughts on this one — the next big catastrophe?
Jerry: I don't want to be a doomer. The things that I'm going to do are put myself in a position where I can feel safe with what I'm doing. And I think at the end of the day, that's what all of us should do, regardless of the name or the procedures involved. My peace of mind is probably the most important thing to me, and so should yours. Analyse your own situation. Make the call that's best for you and your family. And let's get on to the business of optimism, because there is a lot going on to be really excited about. But let's not forget the risks that are also present. Risks are going to appear that we never foresaw.
Host: And that's the truth. I'll just piggyback and reiterate — Jerry doesn't want to be a doomer. He's not a doomer. But we have to be cautious. We shouldn't just walk into anything. I still think that AI is going to be used for good. I don't believe that all the jobs will be wiped out. I believe that the people who learn AI and use AI will have a major advantage over the people that don't. But there are some jobs that are going to be washed away — not all of them. And I think there'll actually be more jobs created later on. A prime example: typewriter repairman. That actually was a thing, and now we don't use those. However, there are other jobs in the repair industry that are definitely going to use AI and robotics to make things great.
And as far as the hacks go, I still think that if we have the right people implementing AI and doing all the different searches and finding the vulnerabilities, we'll be just fine. It just depends on which path you want to go down.
Decentralisation — Are You Really Diversified?
So this is the last section before we get into Q&A. It's a good point and it's something I've been trying to harp on for quite a bit of time — decentralisation, or diversity of storage, but also diversification of your assets. Mauricio asked this very basic question about whether we're really decentralised, and then we're going to roll into the last clip about the four pillars of diversification. Take a listen to this — it's a good question you have to ask yourself.
Mauricio: "Isn't that the true meaning of decentralisation in a way — decentralise everything? Not just your money but everything. Like me, for example — everything I have is in Bitcoin. So I'm not much decentralised, am I? I'm connected to a source, but if something happens between me and the source, I'm not decentralising."
Jonathan Goodman: "You're exceptionally vulnerable."
Mauricio: "Exactly. So maybe all this time we've spent researching decentralisation when it comes to money, we should also observe it for everything else, and maybe have multiple points, not just one."
Host: So real quick — there's probably a reason why Jonathan isn't too upset about this whole issue. Probably because he diversified a little bit. And this gets to his last piece. Again, you can watch the whole video — link in the description — where he talks about the four pillars that he is personally using. I have to agree with him about where he's at. I'm pretty much on the same wavelength. Take a listen to this — it's about a couple of minutes.
Jonathan Goodman's Four Pillars of Wealth
Jonathan Goodman: "The reason that didn't completely annihilate me is because I've been writing about the stuff — the things I've been writing about in my books. How do you prepare yourself for unexpected things? Well, one of them is I have a four-tier investment philosophy. And it's not an optimisation strategy. It's not a 'get as rich as possible' strategy. It's a 'protect my family from unexpected outcomes and sleep well at night' strategy — appreciating that I don't know what's going to happen in the future, and I know that I'm not smart enough to guess.
So there's real estate."
Host: I've got to stop before we go on. I'm just curious — people in the comments section right now, how many of you went a little too hard into some type of alt or some type of memecoin, or just went a little bit too hard, and it's difficult to wait right now for Bitcoin to really go up? I'm just curious where we're at on that spectrum. Okay, finishing this up.
Jonathan Goodman: "So we talked about real estate. I like that — our home, a couple of rental properties, but more than anything I own a couple of different pieces of REITs. Investment funds that own a few thousand student houses, things like that.
More traditional stock investing with an adviser, managed by an adviser. And those are like Mastercard stock, like Nvidia, like more traditional stock companies.
Yes, I have some holdings in gold and in gold mining companies. Sorry, Bitcoiners — I also have some holdings in gold.
Bitcoin? No other crypto, just Bitcoin. And I actually would have been one of the first people ever to maximise my TFSA — my tax-free savings account, which is like the Roth IRA in the United States, if you're familiar — in QBTC, in the Bitcoin fund. This was a couple of years before the ETFs came out. This was the first regulated fund that allowed you to hold exposure to Bitcoin in a regulated savings account. That's still my TFSA. I would have been one of the first people in Canada to do that.
So that's number three. We've got real estate, we've got stocks, we've got Bitcoin. But the fourth is the most interesting."
Host: And to hear the most interesting one, you can watch the entire video — there's a link in the description. You can figure out what number four is. But Jerry, what are your thoughts on that diversification piece? That was pretty good.
Jerry: I think everybody comes at this at a different level. Diversification at its core is about dispersing risk. That is what diversification is. If you have only a dollar, putting 15 cents into a bond that's going to yield 2%, and 15 cents into this and 15 cents into that — you're not even going to beat inflation. You're going to continue to lose.
So I think everybody needs it, but you come at it when you come at it and how you come at it. Everybody should understand a couple of things. You should understand the monetary policy of the jurisdiction that you live in. For me, I'm a dollar guy. So I went to Mike Maloney's The Hidden Secrets of Money and I learned about currency debasement. I learned about monetary policy. And so I've developed strategies that keep me above that. I have gotten to a place in my life where yes, I do hold real estate, yes I hold stocks, and yes I hold Bitcoin — but it wasn't always that way. And so everybody should analyse where they are, where they want to be, and then basically start your path. You've got to start with that first step. You and I are guys that have already taken a thousand steps on that journey. But there are probably some viewers tuning in today that might only be 10 or 15 steps into that journey. And their procedure or strategy today would be much different than the strategy I implement today.
Host: Right. Yeah. My goals aren't your goals. We've got some people who are 15 or 20 steps in. We've done a thousand. And there are some people here on the stream who've done 10,000 or 20,000 steps.
Jerry: Exactly. And so it's really — the journey, the goal, the game — is to understand that you're in a game, understand the rules of the game, and then develop a strategy based on your situation in the game to beat the game.
Host: Right. And that's a big thing. I think it's the reason why you see Jonathan — you can tell he's not happy about losing $1.6 million, but he's not absolutely crushed and destroyed and saying, "What am I going to do?" We just took a look at exactly what he did to protect himself.
Diversification of Assets and Storage
And this leads me to my last point, which is diversification of assets and diversification of storage. We talk about this many times, but I need to beat it into everybody's head because I'm tired of getting a bunch of emails where people are losing their entire life savings.
I use a custodial service — it's no cost to hold, and to take it out it's 1%, but I'd rather pay somebody 1% than pay a hacker 100%. That's just me. I also use Ledger. I've gotten into ETFs as well — I got that idea actually from Plan B and it works out pretty well. Just like the hacks, Coinbase Prime uses the same infrastructure — excuse me, BlackRock and Strategy use Coinbase Prime, the same thing. It's the same deal.
And then just like what Jonathan was talking about — I forget what it's called in Canada, but we have an IRA here, and that's for your retirement account. Again, it's not just Bitcoin and gold now. Now they're doing ETFs, now they're doing traditional stocks, and it works out pretty well. This is what Peter Thiel did — he put his PayPal stocks into an IRA when they weren't worth much, and then of course it turned into five billion dollars. That's how you do it. And now he has tax-free incentives as he takes out those funds.
And then as a reminder, you've also got staking rewards on Solana and Ethereum if you want to do that, and also for equities and stocks.
So Jerry, before we get into the Q&A, any last thoughts about whether things have changed for you as far as what you're diversifying into? I know you said Bitcoin and some other altcoins, real estate, stocks.
Jerry: No precious metals. My mind's real simple. My property is appreciating at the rate that it's appreciating — I have no control over that. My stocks are strategic. I don't own any Coca-Cola or Mastercard or any of those kinds of things. I'm kind of consolidated in a MAG7-type approach as it pertains to stocks. I don't own any bonds. And my crypto portfolio over the last 18 months has been rolling out of alts into Bitcoin. And most recently, I've stopped dollar cost averaging into Tesla and Bitcoin. I'm just taking that small monthly dispersement and starting to stack cash, because I believe there is an issue — a problem — coming, and I want to have cash to take advantage of what I believe will be a relatively large correction in very large segments of our market.
Host: Yeah.
Jerry: Not just the crypto market, but a lot of other elements also.
Host: Exactly. Well said, Jerry.
Q&A
Host: Now, everybody, that concludes the main show. If you want to stick around, we're going to do a Q&A where me and Jerry will be answering questions. If you've got to take off, go enjoy Sunday with your family. But let's roll into Q&A and go from here.
There's a good one here. Someone says they have to use Copilot at work — oh, this is for Microsoft, I believe. And Claude Darth Mic says we really have to worry about the Chinese AI models because they are pretty much open source and easily available, and can be run from a pretty simple setup — a decent GPU and processor. It's a pretty good move on China's part. If they can make things open source, then they control the rails. They can control the input and everything else going there. Think of all the different websites — I think it's like 70% of websites are built on WordPress. WordPress is pretty much free, no big deal. They made it open for everybody. Now, everything you want to build, they have their own separate company for that as far as taking in different payments and such. They actually control everything. So it's a good way for China to make things move in the right direction.
Jerry, thoughts on which one will win this war — the Chinese version or Anthropic and OpenAI?
Jerry: I think you're going to see a directional change in how people use compute, especially when using compute for intelligence — a model, a frontier model, a hosted model. Currently, 95% of all AI usage is somebody paying a subscription to a service that's providing the service through a cloud. In other words, it's not operating on a computer in your living room. It's operating on a server farm somewhere.
One of the things that creates security is orchestration and proximity. So if I really wanted a secure usage of AI, I would have a computer — like you see behind me — with an AI model on it, and the wrapper that is the interface I use to interact with that AI is done by me and air-gapped from the world. In other words, the world doesn't have access to it. Only I have access to it. You did the same thing when you bought that Mac Mini and ran open-source Claude locally.
Host: Yep.
Jerry: You were literally doing the same thing. I think we're going to see more and more of that as the sophistication of exploits is publicised.
Host: Right. Yeah. And they'll be publicised, and then hopefully AI will go in there and fix things. There's actually a good statement here from Wanton. He says the next app will be an AI agent which automatically crawls GitHub repositories to fix them and earns a bounty paid in stablecoins. I've got to tell you, that could be a new business. There are white hat hackers and there are black hat hackers. The black hats come out there and try to steal as much as possible and then they're gone. White hats will come out there, do as much as they possibly can, and then ask for a bounty and everything gets returned. I would personally like to see that. I'm pretty sure Coldcard would have paid a pretty penny for that if white hat hackers had come to them and said, "Hey, we just found this massive problem." Maybe it was already found — I don't know.
And just imagine automating that with AI, Jerry — just crawl all the different companies. Actually, I've got to go because that's a pretty good idea. Have AI crawl all the repositories, take a look at all the different problems that are out there, create a list of all the businesses where problems were found, find the contact information, do a template for all the emails, and then follow up with them every 24, 48, and 72 hours to make sure they know they have an issue and that you're going to take a very small cut. That's a business. Okay, maybe not. I don't know.
Aristotle Plato also asks, "What about for oldies like me?" — as far as investing, let's say Plato's in his 70s or something like that. Well, we can't really give investment advice, but —
Jerry: What I would do if I was 70 — if I was 70 and I had something, let's say I had $100,000 in assets — I would probably look to leverage that $100,000 to get a return. Would it be staking Ethereum? No. Would I take that $100,000 and buy $100,000 in a real estate investment trust that only invested in hospitals or elderly facilities — something that has a trend line going up and to the right — where I could get 8% or 9% a year? Those are the kinds of things I would be looking at at 70, because at 70, should you take a big risk and lose, the ability to get that $100,000 back is much harder than it would be if you were in your 20s or 30s.
So it's really this converging question of: where am I in my chronology? Where am I in my capital assets, my profit and loss statement? What do I want? How much risk can I take? And do I understand the risks at each one of those strategies? This is not a simple thing. Hence why — there's some very ugly number out there — a majority of the world does not own assets, but the majority of the world does live in a monetary policy where currency is constantly being debased.
Host: What does that tell you?
Jerry: It tells me people aren't educated to the game they're playing.
Host: Yeah. The game that is being played. That's why we must own assets, whatever those are.
This is a good one. A1 Rising says: "Only thing I don't have is real estate. Digital assets, equity, savings, precious metals, money market, and cash on site. Real estate is the only one missing." You know, you can always do the REIT, like Jerry said, and like Jonathan alluded to — real estate investment trusts. And I like that point you talked about, Jerry, as far as hospitals. Apparently there's this demographic group called Boomers — which is what I get called all the time — and these Boomers are apparently getting older and they need healthcare, and it is a massive and growing need. Also, nursing homes and adult care facilities — those are also going to be a big thing, especially as we see different diseases and health breakdowns on the rise. So yeah, something to actually take a look at for sure.
Ekko says, "REITs make me nervous while there are vacant business offices." Yeah, that's also true. Here's the thing about a REIT — not all REITs are created equal. As a quick aside, I own a REIT that does nothing but own property that cell towers are located on.
Jerry: Oh, that's all they do — telecom property. Property where telecom infrastructure sits. Do you think data is going away? Is it on the rise or on the decrease?
Host: I think it's on the rise.
Jerry: Specialty REITs — that's what I'm trying to say. You can get REITs that only invest in hospital property, only in telecom property, only in nursing home property, only in whatever.
Host: Yeah, I wouldn't bet against healthcare. That's going to be a big one. Although I did see that Elon Musk came out and talked about how they are trying to use Starlink to compete with T-Mobile and different organisations, and I was like, that'd be something to look at as far as SpaceX — just to put like $10 or $20 a month into it.
Jerry: It's the same bet as AT&T stock into SpaceX. It's the same investment, but I believe Starlink and SpaceX will crush telecom over the next 15 years.
Host: Look at this — this is right for you, Jerry. "Hey Jerry, I heard Chile will give you $80,000 for entrepreneurs. Is that true?" Well, Jerry's in Costa Rica, but I kind of want to go there and set up a Bitcoin mining operation. If they have unused energy, I can use it. That's interesting.
Jerry: I don't know about the country of Chile having a program like that, but there are countries that will give amazing incentives for an entrepreneur to come and bring their economic productivity to the country. And with ChatGPT and Claude and Copilot and all the rest, it probably wouldn't be that hard to find out. And what a great way to expand your thinking than to go to a different country, a different culture, different everything — live there, experience it, be a part of it.
Host: That'd be great. Culture, food, people — you can't beat that. Especially somewhere new.
Shout out to Natim who's here — she's taking a summer vacation on grandma duty. Everybody's happy.
"Half of Boomers gone by 2040." We've got time.