The second part of the interview with Justin Sun and Jin Ming is here.
The biggest highlight of this episode is Justin Sun @justinsuntron laying out his entire “playbook for life”: why he sees himself as a hybrid of Warren Buffett, Elon Musk, and Donald Trump.
All three are his fellow Penn alumni. As Justin tells it, they used to be known as the “Penn trio,” and now people sometimes joke that he’s part of the group too, making them the “Penn quartet.”
So what has he learned from each of them, and how has he combined three very different approaches into his own path? Here are the key Q&As from the interview.
1️⃣ What have you learned from Buffett?
Justin Sun: Investing, risk management, and fundamentals.
My overall investment system draws heavily on the approaches of Buffett and Munger. But they mainly invest in traditional assets and aren’t willing to venture into many emerging fields. I’ve essentially taken Buffett’s playbook and used it to compete with players in new fields.
When I had lunch with Buffett, I suggested that he consider acquiring Tesla, which was still valued very low at the time. But that didn’t fit his investment style.
Buffett told me he wouldn’t make a major investment in a company that could bring a huge surprise. If he could imagine the company making the front page of the newspaper the next day, he wouldn’t invest in it.
He doesn’t like companies that are too disruptive or undergo too much change, because that runs counter to his investment style and portfolio.
2️⃣ What have you learned from Musk?
Justin Sun: High tech, high growth, and narrative.
Buffett’s system places a lot of importance on fundamentals, but there are areas it doesn’t cover. Musk fills that gap.
In Buffett’s era, the market focused more on return on investment, price-to-earnings ratios, and how much a company could return to shareholders. After the high-tech revolution, the market has become increasingly driven by technology narratives and focused on expectations.
So, in my view, Buffett and Musk are like a “two-engine system”: Buffett addresses fundamentals, while Musk addresses high growth and narrative.
I take inspiration from Musk’s approach to entrepreneurship, but that doesn’t mean I have to do everything he does. I don’t necessarily have to enter the same industries as him.
3️⃣ What have you learned from Trump?
Justin Sun: Personal branding, communication, and publicity.
I’ve known about Trump for a long time. When I was in elementary school, I was already watching him host The Apprentice, and eventually I watched pretty much the entire show.
I also practiced speaking English by watching Trump’s The Apprentice.
I started my business and entered the public eye around 2012, but before that I’d already spent a long time learning. By the time I made my debut, I’d been observing these three Penn alumni for many years.
When it comes to personal branding, promotion, and communication, I’ve mainly learned from Trump, as well as from Musk to some extent.
There’s a kind of “mutual disdain principle” among Buffett, Musk, and Trump: Buffett emphasizes fundamentals and certainty, Musk values technological growth and narrative, and Trump excels at personal branding and communication.
But as someone who came after them, I can draw on all three: learn investing and risk management from Buffett, technological growth and narrative from Musk, and personal branding and communication from Trump, then forge my own path.
4️⃣ Do you completely agree with and copy these three people?
Justin Sun: No. When it comes to “lean muscle” and health, I think my understanding may even surpass theirs.
Buffett, Trump, and Musk have all failed to give strength training a high enough priority. Trump and Buffett have been seen publicly drinking sugary cola, and Musk once made fun of Bryan Johnson’s post-workout appearance on X.
They don’t have “lean muscle” themselves, so they may also look down on it.
But I’ve come to understand this: exercise isn’t just about appearance or attracting the opposite sex. It’s about being able to maintain a quality of life at 80 that’s close to what I had at 30, so I can keep learning about AI and talking with Claude instead of being confined to a wheelchair.
The biggest highlight of this episode is Justin Sun @justinsuntron laying out his entire “playbook for life”: why he sees himself as a hybrid of Warren Buffett, Elon Musk, and Donald Trump.
All three are his fellow Penn alumni. As Justin tells it, they used to be known as the “Penn trio,” and now people sometimes joke that he’s part of the group too, making them the “Penn quartet.”
So what has he learned from each of them, and how has he combined three very different approaches into his own path? Here are the key Q&As from the interview.
1️⃣ What have you learned from Buffett?
Justin Sun: Investing, risk management, and fundamentals.
My overall investment system draws heavily on the approaches of Buffett and Munger. But they mainly invest in traditional assets and aren’t willing to venture into many emerging fields. I’ve essentially taken Buffett’s playbook and used it to compete with players in new fields.
When I had lunch with Buffett, I suggested that he consider acquiring Tesla, which was still valued very low at the time. But that didn’t fit his investment style.
Buffett told me he wouldn’t make a major investment in a company that could bring a huge surprise. If he could imagine the company making the front page of the newspaper the next day, he wouldn’t invest in it.
He doesn’t like companies that are too disruptive or undergo too much change, because that runs counter to his investment style and portfolio.
2️⃣ What have you learned from Musk?
Justin Sun: High tech, high growth, and narrative.
Buffett’s system places a lot of importance on fundamentals, but there are areas it doesn’t cover. Musk fills that gap.
In Buffett’s era, the market focused more on return on investment, price-to-earnings ratios, and how much a company could return to shareholders. After the high-tech revolution, the market has become increasingly driven by technology narratives and focused on expectations.
So, in my view, Buffett and Musk are like a “two-engine system”: Buffett addresses fundamentals, while Musk addresses high growth and narrative.
I take inspiration from Musk’s approach to entrepreneurship, but that doesn’t mean I have to do everything he does. I don’t necessarily have to enter the same industries as him.
3️⃣ What have you learned from Trump?
Justin Sun: Personal branding, communication, and publicity.
I’ve known about Trump for a long time. When I was in elementary school, I was already watching him host The Apprentice, and eventually I watched pretty much the entire show.
I also practiced speaking English by watching Trump’s The Apprentice.
I started my business and entered the public eye around 2012, but before that I’d already spent a long time learning. By the time I made my debut, I’d been observing these three Penn alumni for many years.
When it comes to personal branding, promotion, and communication, I’ve mainly learned from Trump, as well as from Musk to some extent.
There’s a kind of “mutual disdain principle” among Buffett, Musk, and Trump: Buffett emphasizes fundamentals and certainty, Musk values technological growth and narrative, and Trump excels at personal branding and communication.
But as someone who came after them, I can draw on all three: learn investing and risk management from Buffett, technological growth and narrative from Musk, and personal branding and communication from Trump, then forge my own path.
4️⃣ Do you completely agree with and copy these three people?
Justin Sun: No. When it comes to “lean muscle” and health, I think my understanding may even surpass theirs.
Buffett, Trump, and Musk have all failed to give strength training a high enough priority. Trump and Buffett have been seen publicly drinking sugary cola, and Musk once made fun of Bryan Johnson’s post-workout appearance on X.
They don’t have “lean muscle” themselves, so they may also look down on it.
But I’ve come to understand this: exercise isn’t just about appearance or attracting the opposite sex. It’s about being able to maintain a quality of life at 80 that’s close to what I had at 30, so I can keep learning about AI and talking with Claude instead of being confined to a wheelchair.