74 - From Self-Made Billionaire at 35 to Bankruptcy Just 12 Months Later with Zac Prince

🚨MY NEWSLETTER https://nikolas-newsletter-241a64.beehiiv.com/subscribe 🚨Join me, Nik (https://x.com/CoFoundersNik), as I sit down with Zac Prince (https://x.com/CostSegZac), the founder of BlockFi, who grew the company from zero to $15 billion in client assets in just four years, made $1 billion for himself, lost $1 billion, and ultimately sold the company to Sam Bankman-Fried and FTX. In this episode, Zac shares his story of living through the crypto collapse firsthand, the hard lessons he's learned about equity, and how he deals with extreme volatility.We also dive into Zac's decision to leave the crypto space entirely, joining Nick Huber as the CEO of RE Cost Seg, a company focused on saving real estate investors money on taxes. If you want to hear how a crypto billionaire faced both triumph and disaster, and his insights into starting over, this is a conversation you won't want to miss.Questions this Episode Answers:How did Zac Prince grow BlockFi to manage $15 billion in assets?What were the biggest lessons Zac learned about equity during his career?Why did Zac decide to leave the crypto space and join RE Cost Seg?How does Zac think about volatility and handling high-risk environments?What are Zac's frameworks for moving forward after losing billions?__________________________Love it or hate it, I'd love your feedback.Please fill out this brief survey with your opinion or send me an email at [email protected] with your thoughts.__________________________MY NEWSLETTER: https://nikolas-newsletter-241a64.beehiiv.com/subscribeSpotify: https://tinyurl.com/5avyu98yApple: https://tinyurl.com/bdxbr284YouTube: https://tinyurl.com/nikonomicsYT___________________________This week we covered:00:00 Introduction01:26 Early Life and Entrepreneurial Spirit03:01 Career Beginnings and First Tech Job06:04 Lessons in Equity and Financial Growth13:57 Transition to FinTech and Discovering Crypto17:09 Founding BlockFi and Rapid Growth18:56 Challenges and Downfall of BlockFi24:04 BlockFi's Interest Account Strategy24:27 Alameda's Exceptional Performance25:11 The Rise and Fall of FTX27:52 BlockFi's Bankruptcy and Aftermath29:17 Life After BlockFi31:29 Joining RECostSEG37:24 The Value of Cost Segregation Studies41:31 Marketing and Growth Strategies45:00 Reflections and Future Plans47:22 Rapid Fire Questions and Conclusion