Key ideas from Michael Saylor

• "It costs $10 million a year to stay public and $30-40 million to get public" - Michael, explaining why only 4,000 US companies are publicly traded versus 400 million businesses
• Michael's framework proposes reducing asset issuance costs from $10-100 million to $10-100,000, enabling democratized capital formation
• "The SEC 33 and 40 acts were put in place to centralize control over capital markets in Washington DC and limit access to a very small cartel" - Michael, citing Murray Rothbard
• Peak US stock listings occurred mid-1990s with 10,000+ companies; dropped 70% after Sarbanes-Oxley to roughly 4,000 today
• "I haven't seen an innovation in the way my stock trades on NASDAQ since we came public in 1998. Not one." - Michael
• Framework distinguishes six asset types: digital commodity (Bitcoin), security (tokenized stocks), currency (USDC), token (Ethereum), NFT (unique rights), and ABT (gold-backed tokens)
• "Three general types of actors: issuers, exchanges, and owners - everybody needs clear rights and responsibilities" - Michael
• Vision targets 40 million US issuers versus current 4,000, with issuance timeframes reduced from years to hours or days