Molly Bloom: A Gambler With a Passion for Volatility
“I’ve seen my net worth go from zero to hero back and forth too many times to count”, says Molly Bloom, a woman who can organize almost anything in the world of cryptocurrencies with ease and fun. At the ChainXChange conference, she invited the public to hear the story of her life. Molly impressed her audience with her life story, which is more volatile than any coin’s price chart.
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The Hardest Worker in the Family
Jordan, her first brother, was a genius from birth. When he was five, he was beating her father in chess and dreamed to be a Harvard educated cardiothoracic surgeon. Jeremy is her second brother. He is a world famous three times Olympic world champion.
Growing up in a family of strong and capable people, Molly obtained the will to prove she was worth something by becoming the hardest worker in the family. After an injury ended her skiing career, Molly decided to move to L.A. She found a job as a waitress, but one day her boss fired her. He said:
“We’re firing you, because you’re the worst waitress we’ve ever seen. But, you show up early, you leave late, and you work hard. And so, I’m offering you a job as my personal assistant.”
Molly points that her former boss was “super demanding and a little psychotic.” But, since she wasn’t in a position to negotiate, she said yes. After some time, he asked Molly to serve drinks at his private poker game.
The Underground Poker Games for Celebrities
Celebrities walked through the doors of the underground poker gaming club, she says. She started realizing that this was a rare chance for a young woman to be in the rich world of poker.
Impressed by the number of people she saw there, she started to learn the rules and objectives of the game. Molly wanted to put herself the shoes of these gamblers and find out why they liked to play poker so much, at night, in a basement with cheap supermarket cheese plates and red Solo cups.
She started to keep track of what players preferred to do. It turned out that the players wanted to come to some place for a night where they could just relax. She started taking notes to predict what clients would want, and after a few months built a very detailed map of the customers. Her boss understood that the clients were happier because of her delicate approach. He asked Molly to give her account data and leave.
Not So Fast: An Empire Needs to be Build
By that time, she realized how business worked and decided to start building her own empire. This meant she had to go against her boss by inviting his clients to come to her own game at a Four Seasons luxury apartment. The stakes were much higher–raised from 10 to 50 thousand. She invited people from her list to come, and they did.
“Number one, I raised the stakes from 10 to 50 thousands because economics matter. Particularly when it comes to experience in escapism. Number two, I hired a full staff of beautiful people to serve drinks and memorize everyone’s preferences… Number three, I needed new players.”
Las Vegas and the Strange Demands of the Star Players
Molly came to Las Vegas to make a deal with a casino host: she gave her clients the opportunity to come and play at a Las Vegas casino, and the casino gives her the list of the top players in the region. The deal played out.
But she’s got a silent partner, and this guy was a famous celebrity. He was obsessed with winning the game and “crushing the souls” of other players. He cheated a lot, used dirty tricks, and one day Molly decided to leave the business.
“He played dirty, unfair, and he started cheating with another player, and I had to put my foot down. And it culminated with a very weird standoff. He came up to me at the end of the night and said: here’s a $1000 chip, but I need you to get on the table and bark like a seal. And I’m like… What, are you serious? And thirty minutes later, with my face beet red, all the players had stopped playing poker and was watching this demand, I knew this wasn’t about barking or $1000, this was a demand for compliance and submission. And I couldn’t do that, and I knew it would cost me the game, and it did. He leveraged his star power and took everything from me. And overnight, like tripping on a stick, I had lost everything.”
This is part of a series of panels and interviews from ChainXChange coming in the next few days, so stay tuned for more talks and information by subscribing and enabling notifications for the Bitsonline YouTube channel.
Images via ChainXChange, Jeff Hawkes