In Conversation with Phong Le, President & CEO of Strategy

A cool and cloudy morning couldn’t dampen the energy at our recent Sydney Breakfast with the Bunch, proudly presented by Strategy.

In conversation with Cycling Exexs MC James Tobin, Phong Le, President and CEO of Strategy, shared the remarkable story of how one of the world’s leading enterprise software companies became the largest corporate holder of Bitcoin.

What followed was a masterclass in strategic reinvention, long-term thinking, and why sometimes the smartest move is also the boldest.

Inventing Their Way Out of an Existential Threat

In 2020, Strategy found itself in a position many companies would envy: $500 million in cash reserves. But with interest rates cut to zero and the US government printing $5 trillion in stimulus, inflation was inevitable, and that cash was suddenly at risk.

“We’d spent 30 years building that reserve. It was about to be worth 20% less and earning nothing. That was existential.”

Phong and Strategy’s founder, Michael Saylor, made the call: to invest the company’s treasury into Bitcoin, treating it as the most promising store of value ever invented.

They invited shareholders to exit through a Dutch tender, offering a 15% premium to anyone who disagreed. The result? Only 10% took the offer. The rest stayed and have since seen a 70% return.

Building a Culture of Risk and Resilience

Phong spoke candidly about the mindset required to lead through uncertainty. Strategy sees itself less as a tech company, and more as a perpetual innovator, akin to Tesla or Apple in its willingness to disrupt.

He explained how Strategy weathered the 2022 “crypto winter” by building a resilient, anti-fragile system: long-t

erm debt, minimal covenants, and the confidence to hold steady through volatility.

“You don’t panic. You build for the long term and ride the cycles like any great business does.”

He also drew on personal experience, his parents were Vietnamese boat people who risked everything to start anew. That, he said, puts corporate risk in perspective.

Bitcoin as Digital Sovereignty

The conversation went deep into why Strategy believes Bitcoin is past the point of no return. With adoption across retail, institutional, and now even nation-state levels, Phong argued that Bitcoin has become a non-sovereign, scarce, and essential store of value.

“Money is the manifestation of your work. If you work for it, why wouldn’t you protect it?”

Beyond education, Strategy is now helping shape the market with preferred share offerings like STRK, giving investors a 10.5% yield backed by Bitcoin. Their recent STRC IPO raised $2.5 billion, the largest single-instrument IPO in the US this year.

Leadership Lessons That Landed

For Cycling Execs in the room, Phong’s message was clear:

• Innovation is a mindset, not a department.

• Courage builds conviction, especially when others doubt the decision.

• Risk is not the enemy. Misunderstanding risk is.

More Than a Bitcoin Story

This was more than a tech or finance talk, it was a powerful reminder of what bold leadership looks like in practice. Phong brought warmth, intelligence, and humour to a topic that’s often polarising, leaving the room inspired, curious, and maybe just a little more courageous.

Big thanks to Phong, James, and our friends at Strategy for making the morning possible.

With thanks to our 2025 Programme Partners: Webex | Cprime | Elabor8 | Brennan | SISU Solutions | Polestar | IRIS by Argon & Co | CIOVITA

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Breakfast with the Bunch: Building a WorldTour Team from the Inside Out

During Melbourne’s November Breakfast with the Bunch, hosted at Studley Grounds and proudly supported by Webex by Cisco, the International Cycling Executives community was treated to a candid and fascinating conversation between Olympic gold medallist Scott McGrory OAM and Noor van de Kraats, Partnership Manager for Team Picnic PostNL.

From the outside, professional cycling is all about watts, wins, and wheel-to-wheel drama. But Noor offered a rare look behind the curtain – where the work happens in spreadsheets, contracts, innovation labs, and late-night WhatsApps with nutritionists.

A Business Built on Belief and Balance

As one of the UCI’s 18 WorldTour teams, Team Picnic PostNL is a large and complex organisation with over 70 commercial partnerships from headline sponsors like PostNL and collaboration partners like Webex by Cisco, to technical suppliers, bike manufacturers, and nutrition brands.

Noor’s role is to manage and activate these partnerships, ensuring value flows both ways. As she put it, “It’s not just about visibility. It’s about innovation, mutual benefit, and being part of something that helps people perform at their best.”

That performance focus includes the development of their own sports nutrition line and an in-house app to guide rider fuelling – highlighting how granular pro teams get in pursuit of marginal gains. Noor shared that riders felt fresher after three weeks of the Tour de France thanks to their refined approach to supplements and recovery.

Development Is Not Just a Team, It’s a Philosophy

One of the most striking parts of the discussion was the emphasis on youth development. Team Picnic PostNL runs a full men’s and women’s WorldTour team, but also a men’s development team designed to help riders aged 18–22 transition into pro sport and adulthood.

“Learning to take care of yourself is just as important as hitting power numbers,” Noor said. Riders receive tailored support in training, nutrition, and lifestyle, with dedicated staff helping them make the leap, especially those moving away from home for the first time.

And that support pays off: many riders on the elite roster today came through the team’s own development ranks.

Women’s Cycling on the Rise

The conversation also turned to the rapid rise of women’s cycling. With the Tour de France Femmes and other marquee races gaining traction, Noor spoke about how the team’s structure deliberately integrates men’s and women’s programmes. “You’re either all in, or you’re not,” she said of their sponsors – highlighting how the team seeks full commitment across all squads.

This inclusive approach has already delivered results, with high-profile wins generating huge national pride, particularly in the Netherlands, where cycling is deeply woven into the culture.

Partnerships with Purpose

As Noor and Scott wrapped up, a recurring theme emerged: cycling is not just a sport – it’s a platform for connection, innovation, and shared ambition.

Whether through data-driven fuelling strategies or deeply personal development journeys, Team Picnic PostNL is helping redefine what it means to run a modern pro cycling team, and why smart partnerships are at the heart of sustainable success.

 

With thanks to our 2025 Programme Partners: Webex | Cprime | Elabor8 | Brennan | SISU Solutions | Polestar | IRIS by Argon & Co | CIOVITA

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Breakfast with the Bunch: One Year On From Gold in Paris!

Sydney delivered – in more ways than one.

Despite a forecast that flirted with rain, the morning cleared beautifully as the International Cycling Executives community rolled out for another edition of Breakfast with the Bunch, proudly presented by Brennan.

And the timing couldn’t have been more fitting: exactly one year since Australian track coach Tim Decker guided the Men’s Team Pursuit squad to Olympic gold and a world record in Paris.

Racing Memories, Business Lessons

In conversation with Dave Stevens, Managing Director of Brennan, and hosted by Olympic gold medallist Scott McGrory, Tim revisited the tactics, teamwork, and deep emotional grit it took to build a world-beating squad – while drawing clear parallels to leadership in business.

“You’ve got to ride the ups and downs together. That’s how you build belief.”

Tim’s emphasis on belief over confidence struck a chord, reminding us that belief is earned, not assumed, and it’s the foundation for consistent, high-performance cultures both on the track and in the boardroom.

Dave, a leader in the tech space and co-founder of Team Brennan, brought a business lens to the conversation – sharing what it’s been like supporting a purpose-driven pro cycling team that develops young Aussie talent for the long game.

Cycling Execs CEO Maickel Sweekhorst closed the morning by reflecting on the power of belief – not just in sport, but in leadership. He reminded the room that success can sometimes blind us to risk, and that staying grounded, aware, and purpose-driven is what separates the truly great from the merely confident.

That’s our latest blend of cycling and business wisdom. We hope the discussion sparks a few ideas for your own team. Looking forward to the next one – it’s shaping up to be a cracker!

 

A Symbol of Belonging

This morning was also our first Sydney ride-out in the new Cycling Execs kit thanks to Silver Partner CIOVITA. Worn proudly by all members, it was more than just fresh gear, it is a tangible symbol of belonging, connection, and shared identity.

With thanks to our 2025 Programme Partners: Webex | Cprime | Elabor8 | Brennan | SISU Solutions | Polestar | IRIS by Argon & Co | CIOVITA

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Breakfast with the Bunch: When Peloton Chaos Meets Real-Time Strategy

We gathered on a perfect Melbourne winter’s morning for our June Breakfast with the Bunch thanks to Cprime Elabor8, and this time the conversation took a thrilling spin as our group dove into how modern pro cycling tactics can mirror high-stakes business strategy.

Crash Zones & Feed Zones: The Domino Effect
Our discussion kicked off with how innovations in feeding protocols, allowing riders to sustain higher performance levels, have unexpectedly stirred chaos. Riders are now fighting their way to the front of the peloton to catch food, and more crashes are happening as a result. UCI regulations are being tweaked to re-establish safer “feed zones” a classic case of how one well-meaning change sends ripples right through the system.

Chaos + Calm = Success
We heard first hand how riders must instantly adapt: if a teammate crashes out, the Directeur Sportif (DS) in the team car needs to make split-second decisions – keeping cool, issuing remote instructions, and guiding the team back into the race. As our MC, Olympic gold medallist Scott McGrory, reminded us, those DSs often run up the road to support riders physically, then jump back in the car, heart pounding, and re-enter the chaos – yet remain absolutely calm. That level-headedness under pressure is what makes a winning team.

Data in the Driver’s Seat
Next up: how Team Visma-LAB brings tech to the forefront. Instead of relying on isolated data streams, they’ve consolidated full real-time race data, nutritional intake, heart rate, position and even race radio chatter into one “control room.” This gives them total situational awareness and strategic clarity. It isn’t just about fancy screens: its ensuring decisions are proactive, not reactive.

What This Means for Business
The parallels? In business, many teams are drowning in lagging data and fragmented systems, leaving leadership reacting too late. Instead, if you adopt a “single view of work” layering strategy, transparency, risk, delivery, and financials in real-time, you can steer with confidence, not guesswork. It means faster pivots, less waste, more informed choices and all without chaos.

Rider Theatre vs Real-Time Tactics
One standout moment was Scott reminiscing about milder tactical games of the past – feigning fatigue to lull rivals then striking. Now? Teams rely on constant communication from the car, leaving little room for that kind of drama. Maybe there’s room for both approaches, but high-performance organizations lean heavily on data and calm decision-making to deliver results.

That’s our latest blend of cycling and business wisdom. We hope the discussion sparks a few ideas for your own team. Looking forward to the next one – it’s shaping up to be a cracker!

 

With thanks to our 2025 Programme Partners: Webex | Cprime | Elabor8 | Brennan | SISU Solutions | Polestar | IRIS by Argon & Co | CIOVITA

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Breakfast with the Bunch: Turning VO₂ Max into a Blueprint for Living Better

We kicked off the return of Breakfast with the Bunch in classic Cycling Execs style – morning rides, good coffee, and even better company. But it wasn’t just about the bikes this time. Our guest speaker, high-performance coach Dr. Simon Sostaric, joined Olympic gold medalist Scott McGrory in Sydney for a chat that went way beyond watts and heart rates.

Simon, who’s worked with big names like Oscar Piastri and Mark Webber, took us on a fascinating journey through the science of VO₂ max – how it’s more than just a number for athletes. Turns out, it’s a marker for living longer and stronger, even if you’re not lining up for a Tour de France stage.

The Real Deal on VO₂ Max

Simon shared some eye-opening insights: people in the top 5% of VO₂ max for their age are living, on average, five years longer than those in the bottom 5%. It’s not just about beating your mates up a hill, it’s about staying active, sharp, and independent as the years roll on. For many of us in the Cycling Execs community, balancing busy careers and family life, that’s a game-changer.

Bringing High Performance into the Everyday

Simon’s stories of working with elite drivers and cyclists had us hooked, but what really resonated was how those same principles apply to all of us. Consistent movement – whether it’s a morning ride, a lunchtime run, or even a brisk walk – pays dividends. Strength work? Don’t skip it. Good sleep, smart nutrition, and managing stress? Non-negotiable.

It’s a holistic approach that doesn’t just make us faster on the bike, it helps us bring our A-game to the boardroom, the family dinner table, and everywhere in between.

Mindset Matters

Simon didn’t sugarcoat it: you don’t need the latest tech gadgets or fancy gym gear. The secret is simple: show up, do the work, and make it a habit. Forget the endless social media hacks and miracle fixes. It’s about small, sustainable choices, day in and day out.

Why It Matters for Cycling Execs

As Scott reminded us, this is what Cycling Execs is all about – learning from the best, sharing ideas, and supporting each other to live and ride at our best. We’re more than a networking group; we’re a community that understands how performance on the road translates to performance in life.

So, here’s to embracing the power of VO₂ max, no matter where you’re starting from, and building a healthier, more vibrant future. We’ve got some great events coming up in June to keep the momentum going. Let’s keep riding, keep learning, and keep pushing forward, together.

See you on the road!

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Announcing new Event Manager

Want to see how we move extraordinary people forward?

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Sensational Saturday in Singapore

Breakfast with The Bunch in Singapore was a super Saturday with 55 members attending and enjoying new ride routes and an enlightening and candid talk with the controversial cycling legend, Joerg Jaksche: Paris Nice winner and 6 time Tour de France rider (with 4 top 10s). We say thanks to GEMS World Academy for hosting Joerg on the morning.

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Celebrating the Extraordinary...

February marked the start of the 2017 Cycling Execs member series with events held in Singapore, Melbourne and Sydney to capacity attendance. Cycling Execs Founder Ryan O’Neill shared the Cycling Execs Purpose Driven Horizon for members and special guests, outlining a commitment to focus on three core streams:

• Membership: Placing a firm ‘member first’ lens on all activities and interactions to become a membership organisation.
• Connecting: Providing a community platform through technology, events and experiences to accelerate member connections on a local, regional and international scale.
• Sharing: Establishing a culture of openly sharing knowledge and learnings across professional and personal profiles.

To see more: view Cycling Execs – The Active Network Video

Visit these links for more on Cycling Execs: Partnerships | Membership

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Sensational 2016 Start for Singapore

Singapore’s first 2016 member session welcomed a perfect morning for a ride, breakfast and a few insightful and amusing stories from the professional cycling peloton via cycling celebrity in attendance David “Macca” McKenzie.

Rolling out from our new Partner, Marina Bay Sands’ Bread Street Kitchen, 40 members, in 2 groups, where joined by Giro d’Italia stage winner David Mckenzie. Taking in the beautiful Garden’s by the Bay, Barrage and East Coast Park, before splitting by speed preference at Changi, all arrived back together, ready for BSK’s amazing coffee and breakfast.

EYC3’s Paul O’Rouke provided a unique overview of the Cyber Security landscape and how business’ are beginning to consider the serious implications of not prioritising this issue. Key take-aways we wanted to share were:

• Asia is one of the most attacked regions in the world.
• Most organisations are immature and reactive when it comes to having mechanisms to effectively combat a cyber security breach.
• Analytics help establish preventative measures against cyber attack.
• Never click on a link offering free carbon clinchers!!
• Vegetarian’s training on 150km a week are capable of winning Grand Tour stages!!

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Anna Meares + Cycling Execs community evening

Friday February 12th welcomed the start of the 2016 Cycling Execs member series in beautiful Melbourne where we welcomed a number of new members and corporate partners to the community!

With a warm morning, registration was buzzing with 65 members and 2 special guests fresh from the Herald Sun Tour, although BMW Melbourne’s fleet of impressively sharp support cars turned more than a few heads. Something BMW’s Geoff Briscoe and Cycling Execs are excited to be sharing more with the community throughout the series.

Rolling out from Mr Hobson on to iconic Beach Road, the morning’s route was always going to be a great way to start the day, as conversations in the bunches spun as easily as the wheels beneath.

On return from the ride, EYC3’s Kieran Earnshaw provided a unique overview of the Cyber Security landscape and how business’ are beginning to consider the serious implications of not prioritising this issue. Three take aways we wanted to share from the session were:

• Australia is the second most attacked country in the world.
• Most organisations are immature and reactive when it comes to having mechanisms to effectively combat a cyber security breach.
• Analytics help establish preventative measures against cyber attack.

Following breakfast, and in keeping with our commitment to showcasing upcoming cycling talent, Joe Cooper and Chris Hamilton shared their experiences from the recent Tour Down Under and Sun Tour. Joe’s life moto of “you miss 100% of chances you don’t take” was the perfect back drop to the story behind his sensational ride in last week’s race, that witnessed him toe-to-toe with the current Tour de France champion Chris Froome.

Once again, we thank all our partners for their continued support and vision. Together, we are committed to accelerating healthy connections to evolve your community!

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Cycling Execs Chef's Ride with Gordon Ramsay