Owning the Crisis: Randall Miles on Wall Street Survival, US Debt & AI Manipulation

Listen to the full conversation with Randall Miles where we dive deep into why most people die waiting for permission, how one moment of forced ownership created a Wall Street empire, and the three words that will change how you see every crisis.

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Randall Miles was a junior banker at First Boston in the early 1980s. His boss was about to present a brand new financial product to 100 bank CEOs in Boston.

Randall's job that morning was simple: pick up his boss, drive to Boston, sit in the back, take notes.

But when Randall pulled into his boss's driveway, the man stumbled out, turned green, and started throwing up everywhere. Food poisoning. Couldn't make the trip.

Now Randall had a problem. In three hours, 100 CEOs were expecting a presentation about collateralized mortgage obligations - a product so new that almost nobody understood it.

The normal move? Drive back to the office. Apologize. Reschedule.

Instead, Randall got back in the car and drove to Boston alone.

"I figured I'm gonna get fired," he told me. "That much is obvious."

Standing in front of 100 of banking's most powerful executives, a twenty-something kid nobody knew, Randall realized something:

"I did all the work on this product anyway. I knew more about it than anybody in that room. Somebody's got to own it. Why not me?"

He presented for 45 minutes. Answered questions for 30 more. By the end, CEOs were lining up to do business.

That moment launched a 40-year career running billion-dollar companies.

All because of three words: "Why not me?"

The Moment That Changes Everything

You know that meeting where something important needs to happen but nobody's stepping up?

The project that's falling apart but it's "not your job" to fix it?

The opportunity that's sitting there while everyone waits for someone more senior to claim it?

That's your Boston moment.

Randall wasn't supposed to present to those CEOs. Junior bankers don't speak for the firm. They don't make million-dollar pitches. They carry briefcases and take notes.

But when his boss couldn't show up, someone had to own that room.

"Somebody's got to own it. Why not me?"

Not "I hope someone handles this." Not "This isn't my responsibility." Not "I'll wait for instructions."

Just: Why not me?

The Permission Trap

Here's what stops you from taking ownership: You're waiting for permission that will never come.

You're waiting for someone to say you're ready. To give you the title first. To guarantee you won't fail.

When that chairman and CEO approached Randall to run their public company, Randall had never run a public company.

His response? "The only thing you need to be comfortable with is that I have the authority to fire you. If I don't have that, you haven't given me a job."

That's ownership. Not waiting for permission. Taking responsibility for the outcome, even when that means making the hardest decisions.

Why Nobody Wants to Own It

Ownership is terrifying because when you own it, you can't blame anyone else.

When Randall took companies through bankruptcy, he couldn't blame previous management.

When he made wrong calls, he couldn't blame bad advice.

When markets crashed, he couldn't blame timing.

"Business leaders always have something keeping them up at night," he said. "No matter how well the business is doing."

That's the price. You lose sleep because the outcome is yours. The success is yours.

The failure is yours.

Most people would rather be passengers. If something goes wrong, hey, you weren't driving.

But passengers don't build empires.

Owners do.

The Test You Face Every Day

Tomorrow, you'll sit in a meeting where something needs an owner.

A problem that needs solving. A decision that needs making. An opportunity that needs seizing.

Everyone will look around the room. Make eye contact. Wait for someone else to volunteer.

The silence will stretch. The opportunity will start dying.

This is your test.

Not whether you're qualified - Randall wasn't qualified to present to those CEOs.

Not whether you have permission - nobody gave Randall permission.

Not whether you're ready - nobody's ever ready.

The test is whether you'll say the three words that matter: "I'll own it."

The Transfer Happening Right Now

In every company, in every industry, ownership is being transferred.

From people who hesitate to people who act.

From people who need permission to people who take responsibility.

From people waiting to be ready to people who become ready by doing.

Every time your boss drops the ball, that's ownership looking for a new home.

Every time your company hesitates, that's market share waiting for a taker.

Every time your industry panics, that's an empire waiting for an owner.

Randall's built his fortune on this truth: "In the worst markets, I've seen companies snap up their competitors, build market share, really think hard about what the future looks like."

While everyone else retreats, owners advance.

While everyone else waits for permission, owners take responsibility.

While everyone else asks "Why me?" owners ask "Why not me?"

Your Boston Moment

That presentation to 100 CEOs wasn't lucky timing. It was ownership recognizing opportunity.

Your version is coming. Maybe tomorrow. Maybe next month. But it's coming.

A crisis that needs leadership. A project that needs saving. An opportunity that needs someone to step up.

Everyone else will step back. They'll have reasons. Good ones, even.

Not their department. Not their level. Not their problem.

But someone has to own it.

Why not you?

Leo