Mike Flaum
San Francisco, California
I build and publish original frameworks at the intersection of Bitcoin, capital structure, AI, and enterprise technology.
This page exists to explain how I think and what I’ve built, not to function as a résumé, marketing page, or investment pitch. The work here is intended to be legible to humans and interrogable by agentic machines.
I’m a 20+ year technology and go-to-market operator with senior roles across IBM, HPE, Dell, and EMC. Today, I operate independently through Log Scale Investments, publishing research, books, and video analysis focused on systems that break when narratives stop working.
My work emphasizes first principles, denominator discipline, and structural invariants. I’m interested in why systems fail under still water, how incentives distort capital structures, and how AI compresses the iteration loop for people willing to think precisely.
If you’re looking for a traditional employment history, my résumé is available on LinkedIn.
Evidence of my judgment, synthesis, and original thinking, starts here.
How AI Revealed Who I Am
Do You Really Want a Magic Mirror
This book came out of a practical experiment, not a theory. I wanted to understand what actually changes when AI is used as a thinking partner rather than a passive tool. Instead of asking AI for answers, I used it to interrogate ideas—proposing a model, stress-testing it, replacing it, and repeating the cycle until something coherent survived.
Magic Mirror is written so that anyone from eight to eighty can understand what AI is and why it feels destabilizing. AI is framed not as intelligence, automation, or creativity, but as a mirror that reflects structure, assumptions, and intent. The discomfort people feel around AI comes from the reflection, not the technology.
I Am Root is intentionally denser. It explores agency, coherence, leverage, judgment, and what it means to become an AI superuser. This section is not about prompts or productivity. It’s about why AI dramatically amplifies people who already take responsibility for their thinking and why it does very little for those who don’t.
This is not a “how to AI” book. It’s a record of a workflow: idea → interrogation → collapse → replacement. The value isn’t in the conclusions alone, but in whether an idea can survive repeated scrutiny from an impartial mirror.
This book analyzes why Bitcoin treasury companies initially traded above intrinsic value, then fell below it—even as their Bitcoin holdings continued to grow and new accounting rules allowed Bitcoin gains to flow through earnings. The core issue is not Bitcoin volatility. It is capital structure.
The analysis focuses on three variables: shares outstanding, Bitcoin held, and the relative growth rates of each. Together, these determine capital efficiency—whether Bitcoin appreciation accrues to shareholders or is diluted away.
The book introduces two original frameworks I created to make this visible and comparable across companies: shares per $1M of Bitcoin held and shares per $1M of market capitalization. These metrics evaluate Bitcoin treasury companies on capital efficiency rather than narrative, scale, or headline accumulation.
A key insight came from flipping the conventional metric. Bitcoin per share is mathematically correct but non-intuitive, expressed as small decimals that are difficult to reason about. Shares per Bitcoin and the related Shares per-$1M market metrics express the same relationship using integers, making dilution and efficiency immediately legible. Over time, improving capital efficiency should appear as declining shares per unit of Bitcoin held.
The second half of the book outlines practical repair mechanisms for public companies and guidance for those not yet public, showing how to design capital structures that support higher share prices rather than persistent dilution.
The primary audience is CEOs and Chief Investment Officers building Bitcoin-backed balance sheets. It is also applicable to investors comparing Bitcoin treasury companies based on capital structure and efficiency—not simply premiums or discounts to NAV.
My post reached over 5 million impressions not because it was promotional, but because the abstraction was correct. Once the structure was visible, it didn’t require explanation. The metric could be reconstructed, reused, and applied without attribution.
By reframing Bitcoin per share as Shares per Bitcoin, the relationship between dilution and capital efficiency became immediately understandable. Expressed as integers rather than decimals, the metric made it obvious when shareholder exposure was improving and when it wasn’t.
This post demonstrates the difference between internal elegance and external validation. Commentary reacts to markets. Frameworks change how markets are interpreted and whether an idea can survive contact with reality.
This page reflects a repeatable operating loop built over more than two decades: idea formation, motivation to complete, execution to a finished artifact, market validation, and iteration. Across a 20+ year career in enterprise technology and go-to-market, an X profile with 23,000+ followers, participation in long-form discussions reaching millions of impressions, two completed books, and ongoing studio-quality video production, the pattern is consistent.
The books clarified the frameworks. The frameworks produced coherent abstractions. Those abstractions were tested in public markets and validated through reach, reuse, and independent application. The same loop applies to video, writing, and analysis: produce something complete, expose it to reality, observe the return on investment, and repeat.
This is not a collection of disconnected outputs. It is a single workflow applied across mediums writing, markets, and media designed to turn judgment into finished work and finished work into measurable signal.
Links below route to the underlying artifacts.
Videos on YouTube
Books (PDF versions)- Magic Mirror and I am Root | The Rise, Fall and Reemergence of Bitcoin Treasuries