I got into boxing promotion by accident. One of my cousins was a boxer, so I used to go watch him fight as an amateur and then when he turned pro. He had a fight, I went to watch it… he got beat and had a return match… he beat the guy… they had another match, but they wanted to pay them crap money. I went to the meeting, turned around and said, '…I don't need you, we'll promote it…' I don't know why I even said that! The next minute, I was in the promotion business and helping to get this thing together; I got bitten by the bug, and it went from there.

These new regulations should (in theory, although there is no research to test it) prevent this psychological risk aversion by ensuring that all counterparties know that at a wholesale and institutional level, they are safe.

I never started off with money, I started off with love. The love of being an entrepreneur. The love of being a lawyer. The love of being an athlete. When you start off with love, people will love and respect you and you will always be monetarily rewarded.

I went from knowing the value of a dollar to forgetting the difference between $10,000 and $30,000 because everything was expensive. I certainly I got hoodwinked sometimes: people would Google me and the business and charge me astronomical prices.

There are two different types of founders. A wartime founder – when things are tough, they act and a poor peacetime founder – it is really fun or nice to work for.