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Against the Rules with Michael Lewis

Episode 1: Six Levels Down

Against the Rules with Michael Lewis

Pushkin Industries

Sports, Business, Society & Culture

4.49.9K Ratings

🗓️ 5 April 2022

⏱️ 42 minutes

🧾️ Download transcript

Summary

Athenahealth was just another healthcare provider facing the biggest problem US doctors face: not treating patients, but getting insurance companies to pay their bills. But then the company figured out how to fix the problem, by recognizing an overlooked expert toiling in the hospital basement.

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Transcript

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0:00.0

Pushkin.

0:11.2

The first time I sensed we all had a serious problem that might one day lead to our doom

0:16.0

was when I was working on Wall Street.

0:21.0

The problem had to do with experts.

0:25.8

I thought making important decisions had no idea who they should listen to or who they

0:30.1

shouldn't.

0:31.6

Even when millions of dollars were at stake.

0:34.3

I was a 25 year old art history major with zero training in finance.

0:39.5

Then I got hired to work on Wall Street where I got paid hundreds of thousands of dollars

0:44.0

to persuade professional money managers to do things with millions of dollars.

0:48.4

Obviously, I had no real idea what to do with money, yet I was taken as the expert.

0:54.2

Hello and welcome once again to This is Wall Street, here on WMIN Radio.

1:00.1

Today's special guest is Michael Lewis.

1:02.1

He's the author of the Money Culture and former Bond Trader for Solomon Brothers.

1:05.5

What's in the future for yourself?

1:06.6

I know you're a pretty young man, aren't you?

1:09.1

I just turned 31.

1:10.3

That young?

1:11.3

Well, I would say so.

1:14.3

He feels old.

1:16.5

In 1989, I wrote a book called Liars Poker.

1:20.1

In which I explained how I and a lot of other people on Wall Street got paid a bunch of

...

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