Welcome Back to The Hurdle Rate Episode 74: Podcasters Per Share In this week's Hurdle Rate, the crew discusses Adam Livingston joining Strive as VP of Investments. $MSTR buys back $139M of $STRC with it back near $99. $ASST adds 469 $BTC and hits an all-time high market cap of $2.75B. They get into trust as market infrastructure, the Clarity Act, AI doomers building moats ahead of their IPOs, and the 10-year touching 5%. Here's the latest with @ColeMacro, @PunterJeff, @Werkman, @AdamBLiv, and @TimKotzman. Timestamps: 00:00 - Intro 01:17 - Adam Livingston Joins Strive 08:52 - Trust as Capital Markets Infrastructure 19:48 - The Amplified Bitcoin Story and $SATA 22:44 - Building Through the Bear Market 24:54 - An Outsider's View of Strive 28:35 - The Clarity Act and Regulatory Trust 36:23 - AI Doomerism and the Messy Middle 45:03 - Don't Let the Ladder Get Pulled Up 51:28 - Macro: The 10-Year Touches 5% 55:27 - What a Bitcoin Flush Would Look Like 1:01:46 - Capital Markets Recap