About This Episode
In this week’s Hurdle Rate, the crew breaks down the $700 million SATS IPO, Strive’s first year as a public company, and growing from 5,886 to 36,818 Bitcoin through a bear market. They also discuss why SATS is a 15% fixed rate preferred junior to SATA, how the amplification engine was built, and what TradFi investors asked during a high yield selloff. The episode closes on the digital credit bubble and why Strive’s 18-month dividend reserve is stronger than it looks. Here’s the latest with Matt Cole, Jeff Walton, Ben Werkman, Joe Burnett, and Adam Livingston.
In This Episode
- 00:00:54 — Strive’s First Year
- 00:06:58 — 6x the Bitcoin in a Bear Market
- 00:14:40 — The Amplification Engine
- 00:22:18 — The Dream Bear Market
- 00:25:22 — Why SATS Is 15% Fixed
- 00:34:32 — Designing SATS
- 00:42:27 — Treasury Breakeven ARR
- 00:46:40 — The Digital Credit Bubble
- 00:55:54 — Pricing Through a High Yield Selloff
- 01:01:13 — What’s Your LTV?
- 01:06:30 — The 18-Month Dividend Reserve