Coin Stories

Dave Collum: The Next Financial Crisis and Debating Whether The State Could Crush Bitcoin

83 snips
Sep 9, 2025
Guest
Dave Collum
Dave Collum, a Cornell organic chemistry professor and commentator on economics, dives deep into pressing financial topics. He critiques the complacency surrounding the Fed's handling of the economy and predicts an impending crisis. He also debates the viability of Bitcoin against increasing state power and the rising BRICS alliance. The conversation reveals his skepticism about the state allowing Bitcoin to thrive and explores gold's historical advantages as a hedge against inflation. A thought-provoking dialogue on the future of finance and the role of cryptocurrencies unfolds!
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INSIGHT

State Power Is Bitcoin's Principal Risk

  • Collum sees the biggest risk to Bitcoin as state action and believes governments can and will target holders.
  • He doubts widespread safe havens like moving to Guatemala would practically protect many people from state power.
ANECDOTE

From Underachiever To Contrarian Chemist

  • Dave Collum recounts his unconventional academic path and early success in organic chemistry at Columbia and Cornell.
  • He uses that story to illustrate his view that experts can be wrong and that contrarian thinking became his 'superpower.'
INSIGHT

Historic Valuations Are Implausibly High

  • Dave Collum argues valuations rose for 40 years due to persistent tailwinds like falling interest rates and cheap labor.
  • He warns current equity valuations sit ~200% above historical norms and must eventually regress, implying large future losses.
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