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My First Million
SPECIAL: Peter Diamandis on the Longevity Opportunity, Bitcoins Bull Case and Musk vs. Bezos
SPECIAL: Peter Diamandis on the Longevity Opportunity, Bitcoins Bull Case and Musk vs. Bezos

SPECIAL: Peter Diamandis on the Longevity Opportunity, Bitcoins Bull Case and Musk vs. Bezos

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Peter Diamandis, Shaan Puri, Sam Parr, Trung Phan
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38 Clips
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Sep 29, 2021
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Episode Transcript
0:00
Alright, the last month's and went down to Nashville for the podcast movement conference and he did a fireside chat with John Lee. Dumas. You might know him as the host of the entrepreneurs on fire podcast. And if you like my first million, you might like the entrepreneurs on fire podcast. It's the same. It's like inspiration and strategy around your entrepreneurial journey and helps you create the life. You've always dreamed of, that doesn't sound too bad, does it? All right. Well, guess what? It's also part of the HubSpot podcast Network. That's who brings you. Our show and other great business shows. So if you want to listen, learn and grow go, listen,
0:30
Two entrepreneurs on fire. It's on the HubSpot podcast Network. You can find it at HubSpot.com podcast Network.
0:36
So yeah, what is a superpower for Elon Musk? First principle of thinking? You can look at a system and and say, first principles. This should be possible.
0:53
I feel like I can rule the world and no way. I could be what I want to put my all into it like all day.
1:00
So let's travel never looking back. My soul
1:04
again. Just want to make an introduction. I'm trunk been lead writer for the hustle and we're here with Peter diamandis Peter. I'm gonna give a very brief intro here just for aqueous brief for the better. A very brief for audience, a lot of entrepreneurs and investors, but then I'll kind of pass it to you, too, for you to break down, who Peter diamandis is because you obviously, do better than me. But so, you know, he went to MIT.
1:29
I tear a study biology. You got a Harvard medical degree at the same time while you're studying medicine. You started a space company satellite and I believe microsatellites and you basically kind of gone this route since where you've been involved in The Cutting Edge of Science and Technology, you found it over 20 companies in the human longevity space in the space space. And you also very famously known for the X prize, which is where you solve the
2:00
Grant has challenged with incentive prize competitions. It started with the N. Sorry ten million dollar space prize, which that that was awarded believe ten years after you started the prize from, I believe, 97 2006 and that technology was later licensed by Virgin Galactic and your friend Richard Branson. And this year was a very, you know, big milestone year for that when he took that first flight. And now you've spent a lot of your time in the past few years, I believe longevity is a space. You're very
2:29
Arrested in. Yep. I would like I guess from here to pass the Baton on to you with that kind of context. What is peer dmn is doing today in 2021. And what is most important to you? Oh my god. I think what's most important to me is helping entrepreneurs, make a bigger impact on the planet. When I think about the tools we have as entrepreneurs, as Executives as leaders are never to never been more powerful than today.
3:00
And I think that entrepreneurs are the means by which.
3:05
We can address the world's biggest problems and uplift every man woman and child on the planet. And so, that's a driving force for me. I know, I teach and I talked about massively or massive transformative purposes, and I helped a lot of entrepreneurs come up with their purpose, their passion, their MTP and mine is to inspire and guide, entrepreneurs to create a hopeful compelling and abundant future for Humanity. So I think about that a lot.
3:35
And right now, I'm working on my fourth, fifth and sixth book. I have a book with Tony Robbins called life force. They'll be coming out in February, which is looking at all of the breakthroughs that are adding decades on to your life. I've got a book with another friend Salim, Ismail called, exponential organizations to that. Looks at a new species of company that exists today. These are companies that are, you know, performing by 10.
4:05
Fold their competition. And then I'm just because abundance as a book was so important to me. We're approaching the 10-year anniversary and I'm going to do a bandhan since Revisited because so much of the case for abundance is so much stronger and there is a few key places that it's week and me to focus attention. So that's what the book will be will be about. I'm a dad of two ten-year-old, boys. I have a half half a billion dollar Venture fund bold, Capital partners.
4:36
I have a few for companies in the healthcare space. I've got a new Venture called future Loop. We can talk about which is, you know, how do you get thing? Use? It actually is Meaningful to you versus in the dystopian negative news out there and I'm just, I'm a kid having fun following my dreams. No, that's perfect. Actually, definitely a couple of those items were on my question. This, I know you have talked about the crisis and use Network in the past CNN, and I'm sure after Lou,
5:05
It is meant to address that but okay so last week I asked that my Twitter audience, you know, speak had the opportunity to speak with Peter diamandis. You do have any questions almost? I mean by far the majority were around your longevity work. So yeah, I kind of want to toss some questions that general direction just to get started and happy to knock off some of those other topics later and sure. So just from the top level. I know that you are friends with David Sinclair. He wrote the Book of Life Span and yes, mention him in your previous podcast and interviews.
5:35
So, I was wondering if you could speak through. I'm not sure if you hundred percent are in agreement in alignment with his signs or what he thinks about life extension and reversing of Life aging. But my question would be then if you were to set the the field of where the science is and how you look at life extension and Longevity. Is it that you're thinking about reversing aging or stopping Eugene entirely as a? Yeah, the framework, it's a great question. And I think one of the things that David Sinclair,
6:05
Irv's absolute credit for as a spokesperson is filled with Incredible credentials, right? He's at Harvard Medical School. Professor. Do not of genetics extremely achieved his book. Life span is an amazing book that I, you know, I promote more than I do my own books. You haven't read slides fan. You should go out and get that book. It's by the way. It's a great audible. He does an interview between every chapter and David, just brilliant and David has
6:35
Helped people understand that aging is a disease and that if you it's the, you know, cardiac Cancer neurodegenerative, all of these things are correlated with aging, the more you age, the higher probability of these things and David has spoken about the notion that aging is a disease that can be slowed stopped and even reversed. Now, a couple of thoughts just to put this in context for folks, and I spent a lot of time, I 80% of my investments are in this.
7:05
Place I run a community called the abundance 360 Summit, where I coach some four hundred CEOs and leaders. And the most popular topic there is longevity. Every year, I sort of say this is on the Leading Edge. This is on the leading edges and what you can do. Now, this is what you do. This decade ahead. So the question is, why do we age? And there's a few things to point out. First of all, back a hundred thousand years ago, a million years ago when we were early on
7:35
It's evolving on the Savannahs of Africa. You would go into puberty at age 13, no birth control back then. So by the time you were 14, you were pregnant. And by the time you were 26, 27 28, you are a grandparent. Your kids were having kids and back then food was scarce right? There was no McDonald's, no Whole Foods. And the worst thing you could do for the perpetuation of the species was steal food from your grandchildren's mouth. The best thing you could do.
8:05
Was like die and give back your bit. So we, we didn't live really past age, 30 past the late 20s back then. And so, if you were, if you had a disease that would kill you in your 40s 50s or 60s was never selected against. And so we didn't promote, we didn't have evolutionary forces for a long live life. That's the first thing to point out the second thing. Interestingly enough. You know, I'm 60 now. I have the same gene.
8:35
As when I was 20 and the question is, why don't I look like? I was 20 and it turns out, it's not your genome sequence. It's not the 3.2 billion from your mother 3.2 billion from your father. It's which of those 30,000 genes is turned on in which is turned off.
8:56
And the that is called the epigenome Epi meaning above the genome. It's controlled and your epigenome determines, which genes should be on in, should be off and the challenges as you get older. Some of the wrong genes are on and some of the wrong genes are off and that's principally. What's driving aging. And so there's a lot of different approaches to addressing addressing that and
9:26
No, when I think about the biggest markets for entrepreneurs or investors on the planet, it's Ai and Longevity or biotech. There's no bigger markets on planet Earth, right? You have said that if you want to make a billion dollars, you know, change a billion people's lives, right? And yeah, I love saying I say million people's lives. Yes, it would be and you know, I said the world's biggest problems the world's biggest business opportunities, and here's
9:56
Here's one of the problems is everybody. Up until now is considered aging inevitable and just part of life, but what if it isn't inevitable, what if in fact aging is something that can be slowed can be stopped that would be extraordinary. So no, I'll just mention how
10:20
Sorry, can you hear me dinner? Yeah, I can hear you fine.
10:25
Oh, sorry. I was just going to ask you mentioned, how large the longevity space was his opportunity. I was wondering if you could talk to some of the sub verticals and I know you've invested in stem cell research and also Gene therapies with my what are they kind of the equivalent of? For example, if you were to go into Finance, you could go into Asset Management Insurance. Yeah, sure. What are the similar food or sure? Yeah. So there's first of all, I would say that there's a biotech which is drugs.
10:55
Small molecules ourselves, being used to impact Health. Then there is a med tech which is AI, robotics sensors networks. And so, we're so divided into those. Those two areas in the biotech Arena. I'm very interested in the world of stem cells, right? Your stem cells are your what are called pluripotent cells. These cells can go from a stem cell into
11:25
Any number any tissue neurons liver kidney? Cardiac, you know, pulmonary lung cetera, and and differentiate those tissues. And we were born, our placenta is an organ that generates all these stem cells. I think of it as a 3D printer that manufactures the baby.
11:48
And then when we are born, we have a large supply of stem cell those stem cells, are there to repairing damage to go from this pluripotent stem cell into new skin or nerve or muscle or whatever. It's acquired. But as we grow older, our supply of stem cells diminishes. Radically like a thousandfold, a hundred thousand pole than to less cells, these stem cells in your body to release.
12:16
Solve any damage. And so one of the area's is, how do you Revitalize your stem cells? How do you supply new stem cells to the body? That's a big area of interest. And one of my companies cellularity, just went public on the NASDAQ, clu is one of the leading, manufacturing companies for using cells as medicine, sell your own cellular medicine, and, and it derives from the placenta natural killer.
12:46
Few cells stem cells that are then used in any human because they can because the placenta has a very unique quality that it doesn't know self yet and it can be provided to any person with any kind of immune reaction. Another area is the area of vaccines and vaccines have become, you know, very well known in the last 18 months, two years with with covid.
13:14
And let me just put my plugin for everybody. Guys vaccines are science. And if you've not been vaccinated for covid, please do the CDC. Just came out with a study that says your 11 times more likely to die from not being vaccinated and you are to die from being vaccinated. Meaning the numbers are there and you're panning out, but vaccines can also be used for different things and one of my
13:43
Please fax entity is using vaccines to stop. Alzheimer's Parkinson's, heart attack, and stroke migraines. We use it back. Seen, that turns your immune system on to create antibodies that Target specific protein in your body. It's a way of treating chronic disease, for pennies on the dollar or a hundred a thousand times cheaper than other biologics, you know.
14:13
Other areas are small molecules David Sinclair talks about nmn nicotinamide Mono nucleotide, which is a precursor to something called NAD plus it's part of the energy system of your body and it helps you control which genes are turned on which genes are turned off. And you know, this book life force that I'm co-authoring with Tony that comes out in February is a look at all of these things.
14:43
In a very understandable language. So yeah.
14:49
Then and so you walk through kind of the medical technology. And the biotech side. Let's say that the applications of these advances were to be implemented. How long do you think somebody could potentially live to and over? What timeframe would this happen? Yeah. So my mission when I'm focused on right now is how do I add? At least a decade of healthy life. This decade. And then we're going to
15:18
Start intercepting, a whole new set of biotechnology. He's now the other area of biotechnology and I'll come back to this, to your question. The second other area of biotechnology, moving at light speed, is the whole crispr Gene editing systems under multiple crispr Gene editing systems, which are becoming extraordinarily powerful in being able to do precise edits in your book of life. You know, our DNA is a language of
15:48
Four nucleotides represented by ATC and G. We have 3.2 billion from each of our parents and crisper allows us to go in there and edit and correct a single nucleotide, which a lot of times can be the cause of a genetic disease that sailed, your family line for centuries. The other is gene therapy, which different from crispr, which is to edit your existing genome gene therapy is using a trouble robotic virus. Typically what's called an ad no associated.
16:18
Hours to deliver a new copy of a gene into your cells. The gene could be an additional copy of what's there. It could be a copy that a gene that's missing or an alternate version of a gene that you already have. And this plus genome sequencing + genome writing is really moving at exponential speeds. So these are the Technologies along with artificial intelligence that are making a dent.
16:48
In the longevity Universe, I think in conversations with folks like David Sinclair and George Church both at Harvard, you know, the notion is they both believe and have said that they think we can get to, you know, a hundred twenty at least a hundred and fifty now, I'm 60, if I make it to a hundred twenty. I'm intercepting, 60 more years, robe of advances and I guarantee you that
17:18
In a sleigh aging period probably in the next 20, 30 years at the outmost. So it's not, you know, it's ultimately phrase that I use from Ray. Kurzweil is living long enough to live forever, your job isn't you know to make it all the way 220. It's to live an extra 20 years for the purpose of, you know, getting to the impact of quantum Computing. In AI on these areas. There's a concept called Longevity escape velocity.
17:49
That Ray Kurzweil has popularized and I write about in this upcoming book and it's the notion that today for every year that you're alive. Science is extending your age by a quarter year. Now. The question is, when will we get to the point where for every year? Oh, you're livescience is extending your life for more than a year, Ray, Kurzweil predicts, its the next 12 years.
18:19
And his predictions are pretty damn good. George church has said, you know, he thinks it's within the next 10 to 15 years. So the same time Prime. So this is where we're going. And ultimately, you know, I don't think what wouldn't you pay for an extra, you know, 2030 healthy years of life. Now, this is not slobbering in a wheelchair. This is where you have the Aesthetics, you look great. The cognition, you're thinking clearly the mobility or will move around to enjoy those extra years.
18:48
And what would you do with an extra 30 years of healthy life or more? No, I think I mean David brings it up in his book or the societal implications of all these extra years. So that's actually what a one of the questions I wanted to touch on is what is the accessibility to your points? Like? What would somebody pay right? Clearly, somebody with means would pay almost anything to have their life extended. And the question becomes, how accessible will this technology be? And, and if we were to extend life, I know the common
19:18
Around resources, overpopulation. I'm no losers counter forces to have just a lot of let me let me address that. So first of all, let's dismiss the overpopulation meant, okay. I put out a Blog just a few weeks ago and I put out about three blogs per week on Science and Technology, impacting longevity. Just go to diamandis.com and you can, you can look for this a search bar on my blogs and it turns out that, you know, wouldn't the pop-up window.
19:48
In the book, The population bomb was written things look dire. This is like 50 60 years ago, back. Then the average was something like five children per family globally, especially in Africa. But today we've dropped from like five and a half children per family, globally, to A reproduction rate of like, 2.4 children per family. In the United States were below the replacement rate, which is 2.1 in Japan and many
20:18
Parts of Europe or below the replacement rate. China and India Africa, have all come down. I was interviewing, Elon Musk in April. We were launching a hundred million dollar xprize, he pointed and he basically said, you know, the biggest one. The biggest problems he's concerned about is this notion of under population and the human race going out with a whimper where we don't have the labor.
20:49
To support our ongoing capabilities. So it turns out longevity is critically important to continue to have the labor there, you know, as we sort of hit peak in 20 years and then, you know, start a rapid Decline and one last thing is there was a study done by Oxford and Harvard. Recently that said for every year of life. We add on the average.
21:20
The Hue of the global economy increases by 38 trillion dollars. That's the impact of one extra year of healthy life for the world. So across said the average lifespan. Okay. Well that is that's the part. That's huge. Yeah, it's huge percent of the global economy. Yeah, and so it's like when you're at the top of your game and you're earning the most and you're able to make the based impacts and you've got the best relationships rather than hanging up. Your shingle. What happens if you've got the energy and vitality.
21:50
We'll need to not only go but accelerate and the question becomes are these things going to be affordable for everybody and the kinds of treatments that we're talking about, don't cost a lot and definitely will not in the volume. As we're speaking of Ray, Kurzweil tells a great tale. He says, you know, the cell phone came out in the 1980s and back then, it was a size of a briefcase, it cost tens of thousands of dollars.
22:20
And you drop a call every every block in Manhattan. Yeah, I mean, it really sucked. So, you know, back when it first came out, when it didn't work. Well, all the wealthy people paid for it and today, there are more cell phones on the planet than there are humans and they're cheap and they work extraordinarily. Well, all right, and it's always been the case that, yes, the wealthy will will be the first movers and to some degree. But by the time, the bugs are worked out. It's cheap and available to everybody, and I do think.
22:50
We're going to see that in the biotech field as well. No, that's a I've definitely seen the the rebuttal to the overpopulation side, right? Is like, if you actually look at the largest Chinese, the best example, the China is both be half the population. It is now by the end of the century, is the estimate and then the final question I had around longevity was what kind of impact does this have on finances for people? If you're going to live to 60 in your planning for retirement.
23:19
Fireman at 60 and now you're going to 120. How much is that going to change kind of due time? It industry. The investment industry in that, all of those aspects. Yeah, that's a great point. One of the biggest challenges with longevity is that in, this is to everybody who's financial advisors out. There is, you know, people typically plan to live till 80 or 90. And what happens if you're living for another 30 years. What do you do? Well, and what happens to?
23:50
To Medicare Medicaid. So, you know, Social Security. Well, I think one of the things is going to be. And I talked about this and I write about it is we're going to have to move the retirement age. If people are healthier longer, right? When Social Security was put in place retirement age, and Social Security was set, because that's when on the average, you died. It was like, you would like retire and then you would give you a bits back to the environment.
24:20
And as well, you know, we need to realize we need to plan for a longer life and that's part of this future moving into. I think that's actually the mention you had their about having these assets for much longer and in exchange your emails. You didn't mention you want to talk about Bitcoin. So this is a opportunity. I wanted to transition into the intersection of Bitcoin and Longevity because in
24:50
Our webinar a much watch webinar with Michael sealer over the summer. Yeah, you touched on the topic of how Bitcoin has become potentially is a big part of the longevity equation because of the blockchain infrastructure. It can keep an immutable record. And if you're living longer it can hold the store value for a much longer lifespan. And I believe a point that was brought up by you and Michael was a lot of people don't realize how bad inflation is because it died basically, before inflation.
25:19
And destroys their well, so I want you to jump into longevity in Bitcoin. Yeah, let's dive into that. And besides Michael sale or buddy. Michael is a fraternity brother of mine from my early days at MIT. We were both Space Cadets and we didn't. We live right next to each other, for a number of years. Brilliant. Brilliant guy and extraordinarily excited to see the passion and the fur. No fervor. He
25:49
Rings do is is fundamentalist point of view here. But also on that wet on that webinar was another friend, Bill bar, Bill bar height and you know, Bill is the CEO of a great company that, you know, I use Abra for all of my, all my crypto. So just I don't want to leave him off the off the conversation there, right? And so Michael and Bill, and I were talking about,
26:19
The notion that Bitcoin in one way equals abundance, we're seeing, you know, everybody thinks they're absolutely brilliant because they're real estates going up because their stocks are going up because they're, you know, getting all this interest on on, on their assets. But we don't realize is honestly, it's the result of pumping unlimited amounts of capital into the US and the global economy to the point where it's, it's ridiculous where we're devaluing.
26:49
Dollars at a rate that that people just don't understand. And so as we're moving, as we're living longer and we're digitizing the global economy. I think Bitcoin is a fundamental, Cornerstone of a long lift, lived exponentially digitized world. And so, you know, one of the big questions is, you know, how much?
27:20
Should you invest in there at what stage in your life? And, you know, everybody, I talk to you. I say, you know, at a, you know, this is my humble opinion. I'm not an economist, but I'm moving as much of my cash out of US Dollars and into Bitcoin. And you know, I'm probably 80/20 Bitcoin in the theorem and you know, when I can get, you know, 4% to 8% interest rates on Abra.
27:50
For my crypto, rather than sticking it in the bank for, you know, zero interest rates and and deflationary pressures. That's insane. Yeah, that's so for you, it especially with how you look. When you use the word abundance along with Bitcoin, and this longevity piece is of all the Technologies out there, digital money seems inevitable. And as you and Michael alluded to is like this is I can't believe you called it. The Apex property of the human race and number of times.
28:20
Yeah, it is. And it's it's still the early days. I talk about in my book, abundance and bold. I talked about the sixties that exponential and just very buddy, when you digitize something in the early days of that digitization, which is the first e progress is slow. It's deceptively slow. You know, if you double like the first Kodak digital camera was .01 megapixel image.
28:50
Is next year is .02. Then .04 then .08. It all look like zero to the executives at Kodak and they ignored the digital camera. But 30, doublings later. It was a billion times better. Right? And you had 10 megabit cameras and film was dead. And so when you digitize something it slow and deceptive in the beginning, then it's disruptive and a dematerializes demonetised has and
29:19
sighs has access to products and services. And so that's exactly what's going on. You know, Bitcoin is digitized assets and capital and it's been slow and deceptive. And it's just now over the next 10 years going to enter the disruptive phase and it's going to demonetised and democratize all these areas, you know, if I were to ask you and maybe triangle put you on the spot. How old is 3D printing, when was 3D printing discovered?
29:50
It is so off on this, but I'm using your 6D framework. You just said, I'm going to assume it started in the 70s, but I only knew about it from like 2010. Yeah, so most of us, you know, think God's 10 years old now, it really is going on 50 years old now, okay, and in the early, in the early days, it was very slow and very deceptive. And now it's changing everything, right? The same thing on genome sequencing, the same thing in all of these things. So, you know, our brains are local and linear and we think in a local and linear.
30:19
Fashion. And ultimately, you have to realize that this is something worth memorizing, you double something 10 times. It's a thousand times better double it, 20 times. It's a million times double it 30 times. It's a billion-fold. And so, where are you in that process on that exponential Road?
30:39
Well, you've in the blog post, you wrote about that webinar, you did with Michael, you did write specifically the you compared internet versus Bitcoin and you've seen and studied exponential Technologies for your entire professional career. And it looks like Bitcoins fashion. Anything else in terms of adoption it is and there's so much Social pressure for that. So much human Justice pressure for that and so much convenience pressure for that.
31:08
That you know, as and it's interesting, right? Because more than ever, you know, Bitcoin really got a lot of its initial launch out of the 2008 crisis and crisis, tend to cause Industries, to shift and you Industries to come out of out of no place. And so 2008 was a critical time. You saw who burned are.
31:39
Be at, really, the early days of cryptocurrency being being born there and then the covid crisis, which led to massive, you know, inflationary pressures as capital flowed into the global economy is accelerating this. And so, I think Bitcoin is more necessary than ever before. And it's the means by which, I mean think about it. I like to say that.
32:08
That the poorest countries in the world, are the sunniest countries in the world. And therefore, they'll going to happen, you know, a massive amount of solar energy available to them. I also think the poorest countries in the world are the ones that need Bitcoin, the most, to allow for a farmer who earns a living to maintain the well that they're created as their currencies are massively devalued and to allow them to become part of the global economy, you know, as Ilan said, you know, it
32:39
You can look at Bitcoin as as trading information and knowledge and work across a fair platform. Yeah, absolutely Ilan. Has spoken a lot about money as basically just information transference, right?
32:55
All right, I want to take a quick break to talk about inbound 2021. It's one of these conferences that I want you to go to this year because two reasons. Number one, it's free. So that's always nice. And number two, there have pretty dope speakers. So inbound is a is a conference as put
33:08
by HubSpot. It's for any, like, businessperson salesperson, customer success, Marketing sales, all that good stuff. And if you haven't heard our mesh, this co-founder who thought he was on episode, 197 one of our best episodes to date. And I'm not just saying that the suck-up is genuinely one of the best episodes and you know, he gives his talk at inbound and there's gonna be other speakers like Oprah and Hasan Minaj and David change whole bunch of other cool people. It is a Free Conference. So if you're like me, you like getting inspiration, you like getting new ideas. You want to grow your network. You want to learn what's happening on the front?
33:39
Your of all these different fields. Then I recommend go into this, go to inbound 2021. You can find it at inbound.com inbound like INB ound inbound.com and go get a free ticket. Trust me.
33:53
Yeah, and the question I had then just kind of tie a bow on a Bitcoin longevity was and you mentioned dimensions in the webinars. The idea of, if you are going to live to a hundred forty hundred fifty and the example that you brought up in the in the blog post was
34:08
What it, where you will? You put a million dollars today, if you will be alive, a hundred years from now and you want that million dollars to be safe and are accessible. And the answer seems to bitcoin. Well, there's nothing else that I can think of. I mean, super high value, real estate superhighway Stratovarius, you know, super high value assets, but if you want something that's got liquidity and transferability. There's just one. Absolutely.
34:39
That's on the Bitcoin side. Was there anything else that has X prize done any crypto related prices yet? And if not, is that on the menu? So it's always on the menu. Okay, and and the answer is we will and I'm just trying to figure out, you know, what would be the best there, but you know, will I think the areas around social tokens and and identity.
35:08
There are some I think rather than a Bitcoin xprize they're going to be prizes that we're going to launch in which which you know, a token economy and cryptocurrencies are the solution that will win those prizes. That's interesting and that gives a great use case and and popularizes probably crypto more, which I know is very important to you proper lighting, these different exponential Technologies.
35:35
The next one, I want to get into a very popular amongst. Our audience was the Space Race. You've been involved for a very long time, big as a very high-profile year for space with blue origin. I think Ilan sending a couple people that space tomorrow actually. And yes my friends of mine, some friends. Absolutely. So the first question I had was the and started projects from mid 90s. That was the first X prize. It was around sending I believe a three.
36:05
You means a hundred kilometers into space and back that was awarded in 2006. Almost 25 years now is space from when you started that prize, where you believe it, that you would foresee it 25 years later. Are you ahead or you behind a where and where do you see it 10 years from now. Wow, that's a great question. So, let me give the background. I was born in the 60s. I was, you know, Apollo is going on, and it was like, oh my God, this is amazing. We're going to the Stars, right? Apollo showed me. What what the
36:35
Old could do right now and then and then in the 60s also came out this scientific documentary called Star Trek and which is a joke, but, you know, we just saw the the, you know, the, the 50th anniversary of their about and Star Trek showed me where the human race was going in the long term and I became enamored with space. It was everything to me. My parents want to become a doctor, my dad.
37:05
Doctor and that was like, okay, I'll go do that. But I really want to go become an astronaut into space over the next couple of decades. I got a six pack of degrees. I got my pilot's license. I did everything, met a whole bunch of astronauts then. Realize my chance of becoming a NASA astronaut. Like, one in a thousand. I had a better chance at 5-4 becoming an NBA All-Star than I did. Having a becoming an astronaut and the challenge was in the, you know, in the 80s and even into the 90s all
37:35
Everything in space was government. It was all government and and government was not taking risks and it was not flying individuals. And so in 1994, I get a book from a friend of mine called the spirit of st. Louis series written by Charles Lindbergh. And in this book, Lindbergh talks about the fact that in 1927. He flies from New York, to Paris to win a $25,000 prize and I had no idea he was going after prize, and as I dug into this prize, I realized this guy.
38:05
Even our take puts up 25,000 bucks, which is today about five or six million dollars. And he offers it to anyone who can fly between York and Paris, and Paris. And New York, nine different teams. Go after it. They spend 400,000 trying to win the prize, 16 times, the prize money and and or take only plays the winner, you know, I think. Oh my God, this is amazing. You only pay for success.
38:35
And there's no downside. So I came up with the idea of the X prize and X was going to stand up in the name of the person, putting up the 10 million dollars because I'm having at the time.
38:46
And what happens is, I launched it in 1996 under the arch and St. Louis, without having the money without having any teams. I just, you know, rolled the dice and I met a new shh, I'm sorry who had just sold her company for 1.3 billion dollars of fellow space cadet and she funded the 10 million dollar prize and we called it. The Ansari X prize in her honor and it was one of few years.
39:15
Later in 2004 by Burt, Rutan funded by Paul Allen. Richard Branson came in and bought the rights to spaceship. One to build a spaceship to which is now going. I've known Jeff Bezos since the 80s as well. My first company or organization ever was a group called students for the exploration and development of space. Seds. It was a college based group and I was the national chairman and and Jeff was the present to the Princeton chapter.
39:44
And, you know, Jeff came out of that. I met Elon back in 2000 2001, just before he was starting SpaceX. And you know, when the prize Was Won in 2010, in 19 in 2004, if you would ask me how long it would take to commercialize, suborbital flight. I would have guessed five years at the outmost six years. It's been 17 years, and that's just crazy. And what's even crazier, you?
40:14
And kudos to Ilan who is off the charts. Brilliant as an engineer as a designer and as an entrepreneur is what he's accomplished runs circles around the suborbital business because here's the deal, going suborbital is gets you to about Mach 3 Mach 3 and a half mark for as a speed to get 200 kilometers.
40:44
Altitude going orbital is mach 25. So it's about seven times the velocity and for remembering your high school physics, you know, kinetic energy is one-half MV squared and so, it's a square of velocity. So it's about 50 times harder to go to orbit. Then it is on the suborbital flight and what you lungs done, with, with SpaceX and Falcon 9, and now Starship is extraordinary.
41:14
No, I love the fact that two of the wealthiest humans on the planet. Their passion is both opening up space. So I've confidence that we're doing it right now, right here, Jeff and Elon are are going to pour, there are billions in and I know that's where their heart fundamentally is, to make the human race. A multiplanetary species. So basically is little bit slower than you expected. But there's massive progress would be kind of a summary on that. Yeah. I mean it
41:44
It's hit an inflection point of recent, right? I mean, Falcon 9 has decimated the pre-existing Aerospace industry. Yeah. It's a remember when Falcon 9 launch landed, its first stage. I said it's a nail in the coffin for the traditional industrial military complex who were flying complete Expendable boosters, and they're, they're unable to even, you know,
42:13
Come a fraction clothes and went. Starship begins becoming operational. It's game over. Yeah, and the, the last question I had regarding the space race was, I know the media loves to frame, obviously, you talk. You just talked about how you're doing something in the media space, which might take this kind of make a move, but they love framing Bezos versus mosque. I know they're doing two very different missions. Bezos is more about building a space economy. Elon is very specific.
42:42
We about creating a multi, planetary species. So do you see a competition being an Insider in the space? Or do you see it? Just more, you know what, they're kind of doing different things and we can put all succeed. So they have two independent visions that I both love. So, first and foremost, you know, Elon is enamored with going to Mars. He is agreed to go to the Moon first because that's what NASA's mission is. And I think that's the
43:12
Thing the Moon is sort of a Way Station, a interim, fueling point the you know, the moon has water ice on the poles and has has lots of oxygen in in the lunar, regolith and Starship can get there easily. But no elon's vision is wanting to build Starships to go and bring human and supplies to Mars, and really colonize Mars for the
43:42
long-term and build, you know, Starbase one on the Martian surface. And that's awesome. I wish him all the luck. And I remember walking into his office one day and he was kind of depressed about what was going on as to what's wrong - I just realized. You know, Falcon is not going to get us to Mars and I need your re-engineer, what we're doing like from the ground up and that's what Starship came out of.
44:11
You know, Jeff Jeff was at Princeton and they're one of my mentors was there. A guy named Gerard keone. Oh and and Georgie O'Neill. Ran the space Studies Institute, and he wrote about and talked about that. If you can mine, the moon for resources and Mining The Asteroids for resources, you can build way of now been called O'Neill colonies and these are large cylinders. Imagine like a kilometer in diameter.
44:40
Diameter and these cylinders when they rotate and they're capped at the end, you could live on the inside of that. And so the idea was these million person population cylinders that were in free space. Meaning they were not on the planetary surface that had gravity, they weren't on Earth or the moon or Mars. They were Co orbiting the Sun with the Earth and you would sell up set up a civilization there. And when that Civilization grew to a
45:10
And people and it hit, its population limits, you'd build another one and like a bacterium, it would it would split and eventually this would be how the human race would expand. And we would, you know, the vision is move all of the heavy Industries off the planet into space and keep Earth. I think Jeff described it as a zone for light industrial and and that's, you know, a very cool in there.
45:40
Both valid. And what we need is to really make space economically independent of the earth and everything. We hold the value on earth metals minerals. Energy, real estate are near infinite, quantities, and space. And consequently, I think we will get there. And so just to summarize it both. Do you have very different missions and you're just happy. They're both attacking it in their own way. They both had very different missions. And they're both very
46:10
Val Admissions and because they both have the wealth to really fuel this and do it. It's going to happen, right? We're not going to see this happening from from governments governments will support government will be involved, they'll get contracts and so forth, but it's you know, only the fact that Elon was able to like fuel SpaceX in the early days with his first hundred and a hundred twenty million dollars that got to where it is and and yeah from PayPal sale and
46:40
And Bezos has committed a billion dollars a year. Probably more now has retired from Amazon and I truly hope he'll take on the mantle. As CEO of blue origin is company to really have it succeed as well as Amazon has. Right. Absolutely. So we'll move on to the last section here, which will also touch on more Bezos and musk, but it's more broader question that we kind of discussed of your emails. It was you do with so many interactive has so many high performers whether that be Elon Musk, Jeff Bezos Tony Robbins, Larry Page,
47:10
Arianna Huffington, yeah, an important thing you've mentioned in the past is I believe you said mindset is might be the most important variable in the as a key to success. So I like you discussed love for you to discuss the different mindsets that you've touched on Happily. So here's my question, right? If you, if you think about the most successful entrepreneurs in the world and douche. I'm sorry. Steve Jobs you on Jeff, you know, Muhammad yunus, who knows?
47:40
That might be. What do you think was the? Most important asset they had? Was it their money? Was it the technology they had, or was it their mindset? And I would posit that if you took away, all their money and all their technology, but you kept their mindset that they would regain a tremendous amount of their of their success, right? Or have the highest probability. And so, the thing, when the things I realized is very few of us actively shape our mindset, so
48:10
No, I want more of a mindset like this or more of a mindset like that. We just sort of our mindset gets adopted from your conversations with your friends, your mom. And your dad, where you grew up, right? I mean just think about it. Do you have you taken the time to shape your mindset? What mindset do you want? So I started realizing this as important because I had adopted a abundance mindset an
48:40
Rachel mindset, a longevity mindset and a moonshot mindset and I realize I got those mindsets from my work with xprize and my work in my books. I wrote and my work with Singularity University, in abundance 360. So, a few years back, I run this abundance, 360 year-round, executive program Mastermind program for these former CEOs, and I said, you know, the most thing, most importantly, I delivered to them is mindsets.
49:10
So I started teaching and crafting around these four mindsets. And one of the things that you'll appreciate Trung is the whole world of neural Nets, right? As we're training a neural net, to learn to recognize faces or cats or dogs. Whatever, the way you train that neural net in the AI world is you show it example. After example, after example, after example, and it shapes neural net right, too.
49:40
Your brain is a neural net to and we're passively training, our neural Nets of our brain. And when you're watching CNN or Fox News, right? What I call the crisis and crisis, use Network or the constantly negative use your training, your brain to be in a constant state of Siege. It's like murder murder, murder shooting bribery impeachment. Murder murder murder or shooting.
50:05
That's its it. It's like,
50:07
do you really want to train your neural net to be?
50:10
Sensitive to and focused on all this negative news. What if you train your brain on all the incredible breakthroughs going on in the world? So you start to see the world from in abundance and exponential a moonshot and Longevity mindset. And so that's why I started doing and and there's some great videos on the abundance 360 website. If you, if you go there just a 360.com and you can learn more about these mindsets. And so every year and throughout the year, I will
50:40
Come and say, okay. I'm going to show you all of the breakthroughs going on in longevity space, and why you would be a fool not to believe, you're going to add 10 or 20. Hope the years of your life. And what you going to do about it. How's it going to change the money? You're saving the companies, you're starting what you're going to be doing. And so my mission is to show evidence after evidence after evidence after evidence that this incredible longevity escape, velocity is coming our way.
51:09
And so, I do that as well in exponential Tech and in abundance mindset, so, I think everybody knows when exponential mindset is that you realize that, that the world is changing at a accelerating rate, and that things are not linear, which is what the way our brains think. And abundance mindset is the implications of that. So, in a scarcity world and, and our brains evolved in a very scarce World on the Savannahs of Africa, you know,
51:39
You would fight over over food in a scarcity mindset. If you've got one pie and more people come over. You have to slice the pie into thinner and thinner slices in abundance mindset. You say bullshit. We're going to bake more pies, right? And so, technology is letting us bake, more pies. So, great example of energy. We used to kill whales on the ocean, to get oil, to light our nights to read. Then we ravaged mountainsides for coal, then we drilled kilometers under the ocean.
52:09
Or for oil. But we're living on a planet with eight thousand times more energy from the Sun than we consume as a species. And so energy is truly abundant, right? There was just a breakthrough, a few weeks back from MIT and the fusion world. So we're heading towards a squander bull, abundance of energy. And so almost any of hot of Maslow's hierarchy of needs are becoming more and more abundant. And, and if you have an abundance mindset, you're excited about the future.
52:39
Future, you're not fearful of it, right? If you miss an opportunity to realize K. Next year. We're going to have 5x or 10x more opportunities. One last example, there is you know, people think of access to Capital is being scarce, but every year for like the last 20 years, we have hit an all-time high in the amount of capital being invested year on year on year. So in 2020 during the pandemic, it was an all-time high in global.
53:09
Investments and Venture Capital Investments during a pandemic. I'm he's like, yeah my God, this is Unstoppable.
53:16
So know that so just to summarize abundance, exponential longevity and moonshot mindset, right? These are kind of the fans that you use. Yeah.
53:25
You mentioned simple. Yeah. No. Sorry the question. I didn't cut you off there. Peter setting, a very specific question, where ya goin back to the linear versus exponential. How do you train yourself to make that leap? Is it? You expose yourself to these, you mentioned, you know, you guys New Media sources, you mentioned future loop. At the beginning, we have our conversation. So first of all, you can't rewire your brain to go from linear to exponential what you can do.
53:55
Is update yourself on a regular basis about this is now possible. This is now possible. This is not possible, right? So that when you update in the fields of exponential Technologies computation sensors networks, AI robotics 3D printing synthetic biology augmented virtuality blockchain. The thing that I do on a constant basis is I'm updating myself in all of those fields in like this is what you can do. Now. Here's the cost has that capability. Who's
54:25
Dividing it in all of these areas because I write about it. I teach about it and incorporate into my companies. And one of the things I realized is the muse does me a disservice right? We talked about crisis, huge Network and all. So I said, you know, it's not like the news. They're providing isn't true. It's just not a balanced. View of all the amazing things going out there in the world right now. I said, what if I can create a an algorithm that would search the world tweets articles.
54:55
Journal Publications for for news, that had the following attributes, it was at a positive incentive, the positive framing, it was future forward. It was looking for places where converging exponential Technologies were Reinventing fields, and then it presented to me that information every day and I built it with some incredibly talented Partners in machine learning space. It's called future Loop. Its future.
55:25
Oop.com LLP, it's free. You can go you sign up and every day I get 12 to 15 articles that are in the fields. I'm excited about and these are the breakthroughs. This is what's going on. One of the things that we did in future Loop was we created a digital Avatar of me and neural net ingesting, all of my books, all of my tweets and it thinks like I think. And so it's called virtual Peter and virtual Peter is part of the filtering.
55:55
For all of these articles. And so I'll get, you know, like four or five recommendations from virtual Peter that I should read and they're always spot on and then in categories, like transportation and health, and Ai, and Manufacturing, and so forth. Here's the breaking most important positive, you know, Muse in these areas and it helps me shape my neural. Net and helps me think more exponentially because it updates me every day and it's a fun quick read. No, that's perfect.
56:25
Future loop, it's free. Everybody can check it out. I'll probably sign up for the Peter package. So better than that. The last things I just want to ask here is super quick, rapid-fire War. If you could identify a superpower from some of the individuals that you work with. I don't want to put you too much on the spot. It could be anything but I'll rattle off some names. So yeah, what is the super power for Elon Musk first?
56:55
Oh thinking you can look at a system and and say first principles. This should be possible which is how he reinvented the electric car industry. Looking at what batteries could be, what they could cost and the launch industry is saying it should be possible to do this and then doing it. Yeah. All right, that's great. First principles can be pretty Lon Jeff Bezos. Jeff. I would say it's building an organization. That was data-driven and experimentalists, right? If I describe a
57:25
Wanted to data-driven experimentalists. Come experimental is companies running thousands of experiments. Looking at the data Reinventing Reinventing the algorithms, you know, he wrote a very simple and easy very fundamental sneaking as well. You know, Amazon's business plan is three short lines. Give people more variety cheaper faster. That's it. Anything Falls in that he doesn't he'll do it. Okay, beautiful, Tony.
57:55
Robbins your good friend. What is Tony's superpower? Tony's superpower is passion, and conviction, and the ability to cut through a lot of the sort of human bullshit and get you to see what is truly driving your what is your, what are your true motivations? And then how you can hack those? Perfect, three more super quick Larry Page. Wow, Larry Page again.
58:25
Had the pleasure to get to know him over the course of a decade is on my boarded at The X prize just science, really just brilliant and like Elon of first principle thinker and just very hard core on the science and engineering. Yeah. Absolute Clarity. Yeah, Arianna Huffington, who I believe is also on the board.
58:52
Yeah, Ariana's is incredibly amazing woman for her. I say it's passionate. Well, she comes at everything with a 360 degree of passion, and she's a very strong businesswoman. Everything. She's done, has been extremely successful. She builds a great team. Is another thing. She does building her team and bringing passion to it. Amazing. Last one is Richard Branson. Wow, Richard.
59:22
First its charm. He is one of the most Charming men on the planet and he, you know, he just uses that to to bring you in and then it's how he deals with risk. So, you know, when when he sold Virgin records and created Virgin Atlantic Airlines, people said you're insane to start an airline when he bought his first 747 from from Boeing.
59:51
He reduced the risk substantially by getting them to agree that they would buy back the airplane a year from now at the same price. If the business wasn't and that just reduces risk massively. And then when he started spaceship, when he started Virgin Galactic, and he committed for like seven hundred million dollars to develop spaceshiptwo. He went to Abu Dhabi in the Emirates and sold a
1:00:21
Very large segment of Virgin Galactic for like seven hundred million dollars. So you basically offset all of this cost, he needed to develop it to an investment from somebody. Also, he deals with risk, extremely well, and reduces the risk on his Adventure. Some deals. So this this image the poplars image of Richard has a you know swashbuckling pirate is just like people aren't seeing that. He's going to these deals and he's just very pragmatic D. Risking it.
1:00:51
It but also with huge moonshot ideas. Yeah, he does. And I would say for Richard, he has an amazing team, right? He builds virgin management team and he isn't adventurous. I'm, and he, and he also lives and breathes, passion and vision, you know, he's been a fellow space. Cadet. Probably as long as I have. Yeah, absolutely. And then my final question for you outside of the superpowers, is you take on so many projects. One of Peters laws is a multiple.
1:01:21
At one time. I know a lot of people are very different with the only want to focus on one thing. How do you, how do you tell an entrepreneur investor or young individual starting that your path is potentially might be what's good for them versus somebody that just does one thing and does it very well. Yeah, so do, as I say, not as I do. I do believe that doing one thing extraordinarily. Well, we'll give you the best best return. So what I teach entrepreneurs is first and foremost, you have to find your massive.
1:01:51
Normative purpose. What is it? That, that emotional energy that's going to fuel you and keep you going because don't do something for the money. Don't do it. Because your mom dad, brother, sister best friend told you to do it, do it because it's what's in your heart, your soul. And when you can find that focus on that and sometimes it's a 10-year Journey before you succeed, you know, I did have single-minded post focuses when I was running seds or you know, I had to focuses during medical school, maybe three anyway.
1:02:22
But today the way I do, what I do is I hire an amazing CEO who's just focused on the business. Right? And I served typically as chairman and vice-chairman of the companies and I'm driven by my passion. I do what I love. That's the only thing I do. Because if I love it, I care about it enough and I give it everything I have. But there's no question that some of the most successful people in the world have done one thing.
1:02:51
Really? Well, right. I remember getting a call from Elan one day saying Peter. I need to step off the X prize board because I'm going to focus on SpaceX and Tesla. And I wish I could find a CEO for Tesla's. I could focus on SpaceX and I said, I totally respect that. I understand, of course you stepped off, and he was often used just on SpaceX and Tesla. He owns no other Investments other this one Bitcoin, but he ended up, you know, getting into neural link and the boring Corporation and a few other things later because you know,
1:03:21
An entrepreneurial of creating stuff. Okay. That so just to answer, definitely, if you can do one thing. Well, definitely do it but it might take you a long time to get there, which is why you might want to try multiple things early on. Yeah, and my Peters laws, you know, I wrote, If something can go wrong, fix it to hell. With Murphy, is my first Vlog of this one. Number one did the book, but you have goodbye. The regular only author. Yeah. Absolutely. So, Peter and where would you like people to send them on?
1:03:51
Do you have a Blog diamandis.com? That's probably that's yeah. So yeah. Diamandis not come if you want to get my, you know, three blogs a week. If you're interested in my abundance, 360 year-round executive program, masterminded, its abundance 360.com future Loop.com xprize if you want to see what we're up to at X prize. I'm working on a hundred-million-dollar age reversal prize. We just launched a hundred million dollar gigaton car.
1:04:21
Removal prize with Ilan. We're in the middle of the competition of an avatar X prize for robotic avatars. A lot of cool stuff going on at X prize dot-org. Okay, fantastic X Pride dot org and idea, -.com two places. Thank you so much, Peter, the hustle audience. Appreciate your time. My pleasure. Thank you. Awesome. Thanks Peter. That was amazing. Yeah, that was fun.
1:04:52
I feel like I can rule the world. I know I could be what I want to put my all in it. Like all Days on the Road, Less Traveled never looking back.
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