Eric Semler, Chairman of Semler Scientific and president of TCS Capital Management, explores the implications of Bitcoin adoption for public companies. He discusses his inspiration from MicroStrategy, the challenges corporate boards face in embracing Bitcoin, and the strategic shift seen in some companies' stock prices. Semler emphasizes Bitcoin's potential despite the skepticism of it lacking cash flows, and he highlights the need for corporations to adapt to emerging technological trends for future growth.
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question_answer ANECDOTE
Journalistic Approach to Investing
Eric Semler's journalism background influenced his contrarian investment approach.
He found success investing in undervalued companies like Netflix, Google, and Pixar.
question_answer ANECDOTE
Semler Scientific's Challenges and Strategy
Semler Scientific, chaired by Eric Semler, faced regulatory challenges impacting their PAD product reimbursement.
Similar to MicroStrategy in 2020, they considered stock buybacks and acquisitions but found them ineffective.
insights INSIGHT
Bitcoin as a Treasury Strategy
Semler Scientific's board, with significant ownership, was open to Bitcoin as a treasury strategy.
Inspired by Michael Saylor, they viewed it as a better use of cash than buybacks or acquisitions.
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The Bitcoin Standard analyzes the historical context to the rise of Bitcoin, the economic properties that have allowed it to grow quickly, and its likely economic, political, and social implications. The book takes the reader on an engaging journey through the history of technologies performing the functions of money, from primitive systems to modern government debt. It explains the operation of Bitcoin as a decentralized, distributed piece of software that converts electricity and processing power into indisputably accurate records, allowing users to perform traditional monetary functions without relying on authorities or physical infrastructure. The book also explores common questions surrounding Bitcoin and its potential as a store of value and a network for final settlement of large payments, challenging government monopolies and offering a vision of money extricated from politics and borders.
In this episode with Eric Semler, Chairman of Semler Scientific, we discuss:
Semler Scientific announcing a Bitcoin Treasury strategy
$SMLR stock soaring post-Bitcoin adoption
How MicroStrategy inspired Eric
Why public companies and boards are resistant to Bitcoin
Will we see more corporations add Bitcoin to the balance sheet?
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Guest Biography: Eric Semler has served as Chairman of Semler Scientific's board of directors since April 2023. Semler is a public and private market investor in technology and media. His long/short investment fund, TCS Capital Management, which he founded in 2001 and converted into a family office in 2017, was at its peak among the largest independent technology, media and telecom investment funds worldwide. Semler has helped unlock value for several public companies as an active shareholder and/or board member. He currently serves on the board of Fundstrat Global Advisors - an independent financial services firm. Mr. Semler has previously served on three public company boards: Angie’s List, the Maven and Geeknet.com.
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This podcast is for educational purposes and should not be construed as official investment advice.
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