Founders
Episode 114 #114 The Professor, the Banker, and the Suicide King: Inside the Richest Poker Game of All Time
Founders

Episode 114: #114 The Professor, the Banker, and the Suicide King: Inside the Richest Poker Game of All Time

Founders

Episode 114

#114 The Professor, the Banker, and the Suicide King: Inside the Richest Poker Game of All Time

David Senra is the host of Founders, where he studies history's greatest entrepreneurs. This is what he learned from reading The Professor, the Banker, and the Suicide King: Inside the Richest Poker Game of All Time by Michael Craig.

What I learned from reading The Professor, the Banker, and the Suicide King: Inside the Richest Poker Game of All Timeby Michael Craig.

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Some Texas banker was playing poker with over $15 million on the table. 15 million on the table? This much cash would weigh over 250 pounds. [0:01]

Founders #38 Jeff Bezos and Elon Musk The Space Barons: Elon Musk, Jeff Bezos, and the Quest to Colonize the Cosmos [4:12]

Poker players are misfits / Poker as a capital intensive business / How to avoid going over the edge [6:51]

The early life and personality traits of Andy Beal [12:20]

Other founders mentioned in this episode:

#59 Howard Hughes: Hughes: The Private Diaries, Memos and Letters; The Definitive Biography of the First American Billionaire.

#65 Kirk Kerkorian: The Gambler: How Penniless Dropout Kirk Kerkorian Became The Greatest Deal Maker In Capitalist History.

#67 Conrad Hilton: The Hiltons: The True Story of an American Dynasty

[19:24]

Professional poker players were the ultimate independent businessmen. They had no bosses, no employees, and no set hours. [20:36]

He came. He saw. He was conquered. [26:01]

The entrepreneurial emotional roller coaster + Bet on yourself [28:20]

A young Andy Beal’s adventures in entrepreneurship [36:30]

Beal Aerospace [49:45]

How Andy Beal finds an edge in poker [55:04]

The difference between knowing and doing [1:07:49]

The benefits of facing tough competition: Andy had played abasing the best poker players in the world for nearly 300 hours. It was impossible to stick around against this level of competition and not improve. How can we simulate an environment like this for ourselves?   [1:09:45]

What a bizarre, nonchalant way to start an important day [1:14:20]

I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth

Be like Gareth. Buy a book: All the books featured on Founders Podcast

#114 The Professor, the Banker, and the Suicide King: Inside the Richest Poker Game of All Time

Introduction

"One of the players had just returned from the Bellagio. In the poker room, he saw the son of a poker world champion and some Texas banker playing heads-up Texas Hold’em with over $15 million on the table. The amount simply would not register in my mind. I remembered from my earlier poker days stories about Doyle Brunson and Puggy Pearson playing rounds of golf for more money than Jack Nicklaus and Lee Trevino made in a year. I overheard pros describing their winnings in inches of $100 bills. But $15 million on the table? This much cash would weigh over 250 pounds. Don't ask how I know this. Suffice to say that people who weigh bundles of $100 bills keep a low profile. It just seemed like more money than even a phenomenal poker player could accumulate, much less risk in one game."

"The banker's place in the game didn't make sense at all. 'But he's a billionaire,' another player told me when I tried writing this off as urban legend. Even if the banker could throw around that kind of money, why would he?" "That curiosity started me on the road to the richest poker game of all time and took me inside the world of high-stakes poker. For most of a year, I learned about the unusual and impressive skills that separate the best players from the rest of the field. The enormity of their successes and failures and their shortcomings, which almost always stem from their strengths."
"I also had the privilege of witnessing the problem-solving skills of that Texas banker, Andy Beal. Beal, one of the great entrepreneurial minds of the information age, had accumulated great wealth, yet managed to remain almost completely anonymous. In fact, the Bellagio allowed him to register under the name anonymous."

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