Navigating High-Stakes Financing in Telecommunications

In today’s episode of Big Shot, we sit down with Mike Milken—legendary financier, philanthropist, and chairman of the Milken Institute.

Mike has been a driving force in medical research, public health, and education for over five decades. Fortune called him “The Man Who Changed Medicine,” and Forbes listed him among “Visionaries Reimagining Our Children’s Future.” 

Mike’s financial innovations helped launch industries like cable TV, homebuilding, and cellular technology. Beyond finance, he has led major philanthropic efforts, including the Prostate Cancer Foundation, FasterCures, and the Milken Center for Advancing the American Dream, set to open this year. A signatory of the Giving Pledge, he has committed much of his wealth to driving global impact.

In our conversation today, we talk about: 

• The childhood moments that shaped Mike’s curiosity and deep empathy

• How Mike mastered mental math through Holocaust survivor, Jakow Trachtenberg's technique

• How speech and debate sharpened Mike’s ability to communicate big ideas

• The impact of the Watts riots on Mike’s career path 

• How market crashes in 1974 and 1987 provided opportunities for significant gains

• Mike’s take on regulations and why he remains relentlessly optimistic about the free market

• A glimpse into Mike’s philanthropic work in medicine and education

• And much more!

If you'd like to apply to be an executive producer, please complete the form here https://shorturl.at/xLQUW

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In This Episode We Cover:

(00:00) Intro

(02:25) Why Mike has been involved in philanthropy from such a young age

(09:57) Early experiences that shaped Mike’s radical empathy 

(19:03) How Mike learned mental math by using the Trachtenberg system 

(20:25) Mike’s journey to Berkeley and interest in the space program

(28:40) How the Watts riots impacted Mike

(33:40) The value of doing research, and what Mike learned about credit

(38:10) Mike’s first investment bank job 

(44:50) How Mike was able to fund MCI at a time when AT&T had a monopoly 

(50:22) How the 1974 stock market crash impacted investment banking 

(57:50) The culture of outsiders dominating Hollywood—many of them Jewish

(1:00:59) The stock market crash of 1987

(1:03:58) Why the best investors are social scientists

(1:06:15) The cultural shift that brought down big tobacco 

(1:09:20) Takeaways from Mike’s interview with Elon Musk

(1:11:00) The JPL Mars Rover landing simulation and how free enterprise drives innovation

(1:14:09) Milken Community School, and Mike’s emphasis on health and medical research

(1:16:22) How views on nutrition and the microbiome have evolved

(1:19:48) Mike’s advice: prioritize great people and be flexible 

(1:24:30) Private equity’s impact on business and the downside of family businesses

(1:28:40) The Miken Center for Advancing the American Dream

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Where To Find Mike Milken:

• X: https://x.com/MilkenInstitute

• Instagram: https://www.instagram.com/milkeninstitute/

• Facebook: https://www.facebook.com/milkeninstitute/

• Website: https://www.mikemilken.com/

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