In the inaugural episode of “Riding Bulls and Taming Bears,” host David Stryzewski welcomes Steve Forbes, a renowned figure in business and economics. As the chairman and editor-in-chief of Forbes Media and a two-time presidential candidate, Forbes brings a wealth of experience and insight to the conversation.
The episode begins with Stryzewski highlighting the rich history of Forbes Media, which was founded by Steve’s grandfather in 1917 during World War I. Despite the challenging circumstances, Forbes’ grandfather had a vision centered on entrepreneurship and the belief that “the purpose of business is to produce happiness, not pile up money.” This ethos has guided the publication for over a century, allowing it to adapt and thrive through various economic changes.
Stryzewski and Forbes then delve into the current landscape of digital assets and FinTech. Forbes shares his thoughts on the transformative impact of artificial intelligence (AI) and digital currencies, emphasizing the importance of understanding the purpose behind these innovations. He discusses the potential of AI to revolutionize industries, particularly in healthcare, where it could significantly expedite drug approval processes. However, he cautions against over-regulation that could hinder innovation.
The conversation shifts to cryptocurrency, with Forbes asserting that while Bitcoin and other digital currencies have their merits, they currently lack the stability required to function as money. He advocates for the development of stablecoins that are transparent and backed by tangible assets, which could provide a viable alternative to government currencies.
Stryzewski and Forbes then discuss taxation, focusing on the recent passage of the “Big Beautiful Bill,” which Stryzewski likens to a Tax Cuts and Jobs Act 2.0. Forbes praises the legislative achievement while expressing hope for further tax reforms, such as a lower corporate tax rate and reduced capital gains taxes, which he believes would stimulate investment and economic growth. He passionately argues for a flat tax system, highlighting the inefficiencies and burdens of the current tax code.
As the episode concludes, Stryzewski engages Forbes in a rapid-fire segment, where Forbes shares his favorite book, a meaningful quote, and his biggest regret. His reflections on mentorship and the lessons learned from his father resonate deeply, providing listeners with personal insights into his values and experiences.
