Pfeffer on Power Ep 23 – Michael Gruen, Co-Founder & CSO, DominateX
Power Over Money
- Michael Gruen views money as a construct made by those in power.
- He believes that power is more valuable than money, as it can be used to obtain resources.
Free Perks
- Michael Gruen explains how he gets things for free by being in the right place at the right time.
- He emphasizes the importance of making a name for yourself, whether people love or hate you.
Providing Value
- Appeal to people's humanity and figure out what they want.
- Provide value to others, especially those in positions of power, without explicitly asking for anything in return.
Learn more about Jeffrey Pfeffer and where you can buy or listen to his books:
JeffreyPfeffer.com
EPISODE 23 – Michael Gruen, Co-Founder & CSO, DominateX
SHOW NOTES:
Meet the amazing and insightful Michael Gruen, a prodigy and social influencer who has started companies by breaking the rules, not getting in his own way, and only following what he knows to be true. His questioning of the status quo and not taking anything for granted are just two of the traits this free thinker employs to create a compelling level of success for himself and those he advises.
In this episode, discover:
-
Michael’s career trajectory and his influence on the internet
-
Why he doesn’t believe anything as it is stated to him
-
How the link between power and money works
-
Reasons to not fear polarizing responses
-
The value in making yourself a scarce asset
-
What patience, persistence, and providing value create
-
The flywheel effect
-
His secret to getting into exclusive rooms
-
The differences between egotists and narcissists in relation to business
-
The surprising statement he told Donald Trump in the Oval Office
-
Advice on how to become powerful
-
What he sees as a harmful problem in society
-
The uniquely powerful style of his emails
-
The number of winners in a good negotiation
-
The principles of generosity, gratitude, loyalty, and appreciation
-
His philosophy on removing judgments and receiving feedback
-
Why knowing your flaws and having no ego are superpowers
GUEST BIO:
Michael Gruen is a dynamic and accomplished Gen Z entrepreneur, investor, and media personality who has significantly impacted various industries in his young career. His drive, creativity, and innovative vision have made him a rising star in entrepreneurship and investment.
Gruen's journey began at a young age. He enrolled in college at 14 and quickly developed a passion for finance and entrepreneurship. He co-founded Frax, the world's first fractional stablecoin and crypto native consumer price index. The Frax Protocol introduced the concept of a cryptocurrency partially backed by collateral. It stabilized algorithmically to create highly scalable, decentralized money in place of fixed-supply digital assets like BTC. As a co-founder, Gruen played a pivotal role in the development and growth of Frax, which quickly became one of the most popular stablecoins in the world with a peak market cap of $2.9B. He was responsible for developing Frax's vision and strategy and overseeing the company's day-to-day operations.
In addition to his work with Frax, Gruen has a proven track record of success in various industries, including finance, sports management, and entertainment media production. He co-founded and served on the board of directors for several successful companies, including Sway House, TalentX Entertainment, TalentX Gaming, Ani Energy, CrossCheck Studios, and Animal Capital, a venture capital fund. His work with these companies has helped him develop a unique perspective on the intersection of technology and business.
Gruen has also been recognized for his contributions to the entertainment industry. He was the first to secure an overall deal at a major studio for an influencer, Josh Richards, at CrossCheck Studios. He procured a comprehensive agreement for Nickelodeon star Jace Norman at ViacomCBS, working directly with Brian Robbins, now CEO of Paramount. In addition, he has played an integral role in transforming Creator Edge Media into a premier talent management agency for top influencers, helping them build long-term partnerships with some of the world's biggest brands.
Leading publications, including Forbes, Business Insider, and Variety, have recognized Gruen's impressive achievements. He was named a member of Forbes' 30 Under 30 class of 2022 and has been featured as one of the top 29 up-and-comers changing the world of venture capital, one of the 24 power players transforming the music industry through TikTok, and one of the 19 talent representatives helping creators turn social-media fame into diversified businesses by Business Insider.
Beyond his professional accomplishments, Gruen is committed to positively impacting the world. He has given some of his company's profits to charity. He has also given a lot of his time and money to help with education and to help young people.
With his entrepreneurial spirit, innovative vision, and commitment to creating a better world, Michael Gruen is a trailblazer and thought leader in entrepreneurship and investment.
Produced by The MunnAvenuePress.com