The Future of Crypto Investing will Shock Everyone! | eToro's Andrew McCormick

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There's a move to put stocks, equities, and other assets
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on chain.
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Yeah, a lot of opportunities with tokenization. I did some
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like rough research recently where I think I saw like
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about ten billion dollars of money market funds, ten billion
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dollars of treasuries, one billion dollars of equities have been
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tokenized so far. If you look at those markets overall,
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that's like something like point zoo one percent of like
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those markets. What if ten percent of those markets become tokenized,
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and now you're looking at like of one hundred and
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fifty trillion, there's like fifteen trillion, so it's going to
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be massive.
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So learn more at bitgo dot com and see why
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the biggest players in crypto trust Bitgo. Hey everyone, welcome
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into the Thinking Crypto Podcast. I'm your host, Tony Edward,
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and we're recording at Station three in New York's Financial District.
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And joining me is Andrew McCormick, who's the head of
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etro us. Etro is the world's leading social investment platform.
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And Andrew spent time at Morgan Stanley and each trade
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before joining each WHORL Andrew, Great.
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To have you, Tony. Excited to be here, man, long
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time they'll see. Yeah. Yeah, a little different here in
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a rady cole, New York than a sunny Vegas A
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couple of weeks ago.
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Yeah, we were both at the Money Show Las Vegas,
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a great event. We both spoke there and lots of
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people interested in learning about crypto.
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Yeah, I loved it. It was so cool talking to
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so many of the other attendees, and some were deep
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into crypto and some were asking basic stuff like what
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is bitcoin? Was a blockchain? And I'd love to see
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if people eyes open up and learn and yeah, great event,
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cool food and made it home safely.
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Yeah, for sure. You know, one of the event organizers
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told me that this year around, there were definitely a
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lot more people interested in crypto, and even the pre
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show the day before the first day at the event
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that I don't know what you call it, but there
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was a room they had to change rooms because there
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were so many people coming in to learn about crypto.
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Yeah, I was surprised. I thought we'd go in and
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we've like off in a corner, like here's the crypto
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people in this small room. And walked into that first
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day and there's maybe one hundred plus people in there,
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and then the second day walk into that huge ballroom
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full of people looking to learn about crypto. Is really exciting.
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And I think, look, last year, I think is the
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ETF's coming on board, got the attention of a lot
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of traditional investors, and then this year, with legislation, probably
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just more and more people thinking about it not just
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as an asset class, but just as technology and part
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of our world, and yeah it was cool. I loved it.
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Yeah it's growing. So let's start with your background, Andrew,
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tell us about where'd you grow up, how'd you make
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your way into the trad fire finance world and eventually
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find your way to ero.
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All right, it's a complicated question. So, like I was born,
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my first born, and we lived my first ten years
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in Texas, so that was a long time ago, but
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my heart always a Texan and one day I'll move
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back there. Then spent thirty two years in Virginia, the
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last twenty years in the Northern Virginia area with my
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wife and then four kids. And then this summer we'd
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got the crazy idea to move up to New York
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City area and it was a hot mess in terms
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of moving, the to do list, finding a place, selling
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the house, and we landed in Jersey in August, and
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we love it. So I am from New Jersey now,
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which sounds really weird, but really thankful and enjoying it.
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And I kind of stumbled into the world of finance
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growing up, Like my dad was a ups truck driver,
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my mom taught of Robi's classes. Nothing felt further away
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than finance and Wall Street and investing. But thankfully I
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had like a grandfather who got into it a little
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bit in his retirement phase, and they would my parents
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would send me over there to hang out with him
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and my grandma to summers to get rid of me,
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and would just pick up a little bit of information
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from him along the way. And after high school and college, look,
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I wanted to go to Hollywood and do movies and
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be a rapper and stand up comic and just about
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anything else. And somehow I ended up in law school instead.
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And I graduated law school on the the end of
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the financial crisis, and there's a lot of companies in
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the financial space getting sued. Oh sure, and so they
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needed a lawyer. It's a start off six years at
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the law firm, and then, like you said, eventually went
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to each trade and then Morgans Stanley. So kind of
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fell into it, but really thankful how it all played out.
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You know, you mentioned a story about your grandfather, and
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one of the things I always try to tell people,
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in addition to improving your communication, financial education is so
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important understanding how money works the economy, and it's now
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even more prevalent because we live in this maybe hyper
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financialized world with so much investing, so much information data,
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and people are more aware of inflation and the impact
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on their money and things like that. Yeah, so that
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was a blessing to be able to get that.
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It was And I'm so passionate about this because it's
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not taught enough. Like it's crazy that in school you
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learn about Pythagonum's theorem and all these kind of crazy
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math stuff, but not like what our interest rates and
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how will that impact you? And just the basics of investing,
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and like from my grandfather and learning, and like I
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really picked up like just making these small steps that
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are obtainable, especially today's technology, ten dollars a month, ten
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dollars a week can make a huge difference. And so
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I love this idea of normal people like who aren't
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in this kind of finance world, just who love like
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consumer brands, Like you might be a huge fan of
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Chipotle or Nike and you spend money there, so like, hey,
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becoming the owner of the company you love ten dollars
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a month, twenty dollars a month. So as a kid,
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my grandparents they would give me like mutual fun shares
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or savings bonds for like birthdays. Wow, and like Christmas
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and as a like thirteen year old, you don't know
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alwa appreciate is that you're like, I kind of want
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to skateboard. But over time, those twenty five dollars here,
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fifty dollars there. Ultimately, like when in college fell in
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love and I was maybe too young, but proposed to
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my girlfriend at the time when we were twenty one, Like,
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I use those money to buy an engagement ring. When
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I went off to college law school, like, use some
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of that to pay for law school. So those little
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steps over fifteen twenty years make a real difference. And
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so I love just preaching out the people, like just
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get started, start small, and just invest where your heart
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is too.
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Yeah, great advice. And you know it's I think Warren
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Buffing and these guys to talk about it at power
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compounding interests and you know, having that macro long term view.
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It's not that you have to today put one hundred
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thousand into this ascid like you say, you can start
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five bucks ten bucks, but it grows over time.
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Yeah, absolutely, Like, yeah, tim in the market is kind
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of impossible, but time in the market, typically over long runs,
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has always wins and it usually works in your favor.
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So I try to teach my kids these things and
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have little accounts for them and just like take these
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little steps and it's cool to see them. Sometimes the
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light clicks, sometimes it doesn't, but I'll try my best.
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Yeah, part of same thing with my daughter. I've been
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teaching her a bit about bitcoin and blockchain tech. But
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also hey, I have some bitcoin for you. It's going
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to stay there. And then also we have the traditional
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stocks and these things that's going to be hers. But
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I think the education is so much more important versus
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here's you know, we did this for you, but why
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did we do it? Is the big thing.
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Yeah, absolutely, So like in my kids accounts, we have
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some of the black Rock, bitcoiny, tf's right, and it's
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like little by little, And then I asked them like, hey,
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what are your favorite brands? Amazon, Nike, Disney. Some of
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my kids love professional wrestling and so like WWTKO and
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just like you guys can own these companies, so just
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which one you want to pick? And so like the
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boys went TKO, the girls went Disney, and it's cool
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like they kind of compete a little bit, see which
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one's doing better. But we think we make finance like
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super complicated, and when you drill down to like investing, it's, Hey,
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I want to be an entrepreneur and I want to
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like start a business, but I can't because either I
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don't have the skill set or don't have the time
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the resources. But I can ride along with companies I love,
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so like I can't open a sneaker store a sneaker company,
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but I can find one that I believe in and
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I think that will be profit, will make money, and
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invest in that.
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And that's a great way to think about it, investing
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companies that you know and you love. Obviously there's a
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bit more you want to look at. You know, you
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know the company financial is doing well and all that.
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But that's a great place to start because there's not
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much of a barrier. You don't have to do a
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ton of homework. But you know, like you said, Chipotle,
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or you wear Nike sneakers, you know the brand is good,
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you know the quality the shoe. Yeah, it's a great
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place to start.
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Absolutely, keep it keep it simple, and yeah, start there.
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But to your point, it's funny sometimes like we had
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a little family investing challenge I think last year, and
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we all made little portfolios and tested them over a
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couple of months. And so one of my sons, like
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everything he wears is Jordan and Nike everything. So like
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he obviously invested in Nike, and you know, like all
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his friends wear Nike. But that month or two, like
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Nike took a dive for whatever reason, and like it
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didn't he like didn't understand it, because like everyone wears this.
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I love this, but sometimes the financials don't sync up.
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The market analysts don't think of But yeah, I'm a
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big believer like investing with your heart, but you know,
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of course do your research. And anytime I see kids
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and young folks like investing and taking it seriously, I
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think it's awesome because I know when I was in college,
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high school, like nobody talked about this. We were like
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talking about TRL and these kinds of things. And so
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it's been really cool to see younger investors like so
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much more engaged and sharing ideas and taking you know,
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taking charge of their futures.
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Pardon the interruption. Hi, I'm Tony. I'm the host of
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the Thinking Crypto podcast. I wanted to ask you if
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you can please support the podcast by hitting the like
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get your podcasts, please be sure to follow and hit
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the five star rating. I'll let you get back to
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the content. Thank you so much. Well, a big part
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of what etour is doing has that ethos, right, the
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social community. So you're making it easy for people to invest,
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but also they can congregate so to speak, and share ideas.
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Yeah, absolutely, that's our DNA because look, if you're planning
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the trip, if you're awaken night and your new board's
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crying and you don't know what to do, you go
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to social media for help, right, and so why not finance?
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Why not investing? So over the last almost twenty years
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the tour, we've got tens of millions of users on
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our platform and some are like you just buy sell hold,
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that's it. But tons of engagement where people are sharing
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ideas about the markets, the news, specific stocks, crypto and
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what's really I think great is one the authenticity and
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transparency because if someone's on there talking about a certain
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stock like this is great, look at their earnings, look
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at their projections. You can actually see he or she
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actually owns this stuff. Yeah, he or she has this
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performance track record risk score. Whereas if you're on a
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social media your platform, someone's like buy xyz, you're like,
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I don't know if this is legit. So that transparency
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is huge, but then also the diversity. So like in
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our own world, you know, we're in a very americanized bubble.
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Like people I see most of it. Most of they
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are like fellow Americans. Etroro. You log in and you
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want to look up some stock or etf or crypto.
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You see not just what people in your neighborhood, state
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or country you're saying, but what people in seventy plus
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other countries are saying about this idea, which I think
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makes it more fun. But you improve, like your perspective
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because America is great, but we're not the whole world,
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and so it's cool to see like even about whatever
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stock and maybe an American stock with people outside world
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think about it. So yeah, that's that's our DNA, this
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idea of social investing and learning and growing from each other,
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and it's really captivating.
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Yeah, I think that's pretty profound. And to your point,
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they did nature or our nature is being tailored to
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be more social. We're on social platforms, we're sharing what
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we eat for dinner or we just did this, and
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the financial component was missing for a long time. But
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I think you mentioned, like the transparency is so important
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because to your point, I'm on X, some guy will
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say this, do this with this asset or this meme
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coin is well, I don't know if you own or
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how much you own, you pull me. But on a
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platform like you Toro, I have that transparency, you I
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can trust.
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More absolutely, and all of the users have gone through
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aml KYC checks, compliance checks, you know, like this is
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a real person who's not a terrorist or things like that,
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and yeah, you can check the risk order or track
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word or performance. And there's a lot of really smart
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people out there who Wall Street International finance but kind
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of look down upon because you know, you're not part
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of the system. But there are people on our platform
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who average twenty thirty percent returns year after year after year,
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routinely beating in the markets. And it's a great resource
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and it's it's cool to see. And you know, look,
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I I'm a millennial technically the very tip tip top
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of that group. But you know, even in my era,
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like people don't really talk about finance for investing, Like
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first it just wasn't interesting too, Like it's kind of
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this shame of almost talk about money. But we do
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these things called the retail investor beat, where like quarterly
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we're going to thousands of investors asking them topics about
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the markets, the news, what they feel about their portfolios.
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And a cool trend we're seeing is like younger investors
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are like more open to talk about this kind of stuff,
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which I think is helpful because there's really not a
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lot of topics more important than finance because it's money
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and investing because it powers everything, and we got to
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pay bills, So that should be a topic that people
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talk about, and it feel.
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It's more so now because they're almost forced to because
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of the way central banks and governments have treated fiat currency.
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I think we're seeing a lot more debasement, inflation and
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all these things. That's how and globally, so people are
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looking for a way to win and to outpace that,
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Like how do I survive in this era versus the
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Boomers headed it less right, Well, it kind of kicked
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the regime of money printing kicked off in their cycle
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going off the gold standard. So now the later generations, Man,
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how do I win? I need to learn investing?
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They're crazy. The price of everything increasing feels overwhelming. And
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you see it. We talked about Tipoli. You see it there,
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Like I saw an Instagram post recently where it's like
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just five years ago, like someone had to receive from
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like five years ago, the chicken burrito bowl was like
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six ninety nine or seven fifty, and now you know
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twelve dollars. And if you magnify that for much bigger items,
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it's it's hard to keep up. And yeah, that's I
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think a power of investing where you it gives you
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a chance to beat those numbers. And you know, sometimes look,
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I when I was on Wall Street firm, people would
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absolutely look down at the like Yolo traders, the Meme
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stock traders. But I get it right, if you feel
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like the numbers and the economy stacked against you, and
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how could I ever afford a home, that kind of
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like traditional American lifestyle, and you want to roll the dice,
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like don't do all everything, but if you want to
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take part of your portfolio and be like this is
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my get rich quick bucket, and maybe it goes to zero,
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maybe it goes big. I get it, you know, because
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there's so much pin up frustration on kind of the
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system and investing. It's not a not risk free for sure,
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but it gives you a shot.
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Yeah, And that's the big thing. Gives you a shot.
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There's at least an avenue and opportunity to be able
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to change your life in that way. And it's funny
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because the government here in the United States, I think
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they're starting to recognize that they're doing the investment accounts
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where kids right where newborns I believe, yeah, twenty twenty five.
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Don't quote me on that, but you know, it's that's
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something they're working on.
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Yeah, and what a great way to get started. Free money.
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Everybody likes free anything, and so to get people started
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in that way and building those habits is huge. And
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that's that's my hope from our own kids since the
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day they're more practically just a little bit every single month,
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and I hope by the time they're twenty two, it'll
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help them in their journey and they'll be have a
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better head start than I did and then my parents
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did and my grandparents did, and they'll use the money
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wisely and not go on a trip to Vegas or
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something like that. But yeah, hopefully along the way instilling
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those good habits. But you know, all about just time
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into market typically wins, you know, so the small steps
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that anyone could obtain I think are really powerful.
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Well maybe, Andrew, by the time we're both older and
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our kids are older, we can have an AI agent
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also a humanoid robot helping us to our kids to
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do that, right, I.
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Think, yeah, I just need a humanoid robot to do
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my laundry, and I'm good laundry and dishes. I'm a
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big believer in that tech. I think it's going to
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transform everything, whether it's in the house or factories.
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So for sure, Sir Andrew, I love to ask people
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where a long did you did you discover bitcoin or blockchain?
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And what was your aha moment?
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Yeah it hurts man. So probably like twenty thirteen, my
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dad actually started talking to me a lot about bitcoin blockchain.
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So it's kind of that like breaking some generational stereotypes.
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You know, usually it's the younger talking to the elder generation.
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But around that era he started talking about two things
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all the time. It was bitcoin and pick a ball
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at the time, like no one else is talking about
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these two things, and I never thought my dad was
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like ahead of the curve and transitter, and then suddenly
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these are like dominant topics in today's world. So he
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would talk to me a lot about it, and it
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kind of would like just go over my head and
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never really clicked. And I had this once such a
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distinct moment when I was like at my law firm,
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working late at night one day, and I remember like
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the cleaning crew had come in was like vacuumine and
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I was still they are working, and I was like
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watching some YouTube video someone talking about bitcoin, and I
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was like, I don't get it. This is kind of
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stupid internet money. And I was like, I wish I
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could go back to that moment when probably bitcoin was
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like forty five dollars or something like this, and even
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just roll the dice for a couple hundred bucks, but
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I didn't. But finally he would keep talking to me
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all about it, and you know, twenty sixteen and seventeen,
404
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when you know bitcoin went two fifty to five hundred
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to one thousand and five thousand, he'd come visit and
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we had at the time, I think three kids, so
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he'd come for the little grand grandparent visits and be like, oh,
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my accounts up like ten x. I'm like, okay, that
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sounds interesting. And then I did what I should have
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done in twenty thirteen. I took to fifteen minutes and
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read the Bigcoin White Paper. Yeah, And I just wish
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I had read it sooner, because I went seven pages,
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eight pages, and it clicked of like, we print so
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much money in the US, and it's a couple people
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in a room who make these kind of decisions that
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impact the entire world economy. What about a system where
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instead all of us can dictate these kind of decisions
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and have a currency for the people, by the people.
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And it clicked then, and I just wish I had
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read that couple pages a few years earlier. So when
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I talked to people, like even at the event Money
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Show event, I just told people, just read the Bigcoin
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white Paper. It's the most important thing I think you
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can do.
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That's the same thing advice I give to people when
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family members and folks on the Haitian I invest in Bigcoin.
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I'm like, I'm like, wait, wait, I need you to
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take a few hours go read the Bigcoin White paper.
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Also read some things about blockchain technology and understand what's
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happening here before you put your money in anything.
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Yeah. Absolutely, Like I love investing in this stuff, but
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it's not just for the return, it's like I believe
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in it and it's interesting. Like Bitcoin white paper. You know,
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it's bitcoin, a peer to peer payment network, and so
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I think it's so fascinating, like that was a dream,
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that was a vision, but it still hasn't become that,
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and now it's more shifting into this like reserve currency,
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store value, digital gold. But I'm still believer in this.
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One day I'll be the peer to peer payments. I
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just need some tax issues kind of be solved there.
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But on long term issue is I think when the
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US alone is forty trillion dollars in debt and all
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the other world governments, who knows what, that bubble bursts
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at some point, and I think some someday you may
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have our president who's like pushes a button and like
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we just printed eighty trillion dollars, we are no longer
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in debt, congratulations, and then that that dollar is worth what,
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and then we will all flock to have more stable currencies.
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So I'm curious. Your dad was ahead of a curve
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with bitcoin, and I think you mentioned, yeah, what is
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he talking about today?
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Yeah? Nothing recently, like never talked about NFTs or metaverse,
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but he's all the way all like biggle ball and
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bitcoin still so yeah, So look from our own kids,
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if you're watching this one day, listen to your dad.
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Oh man, that's incredible. Tell us about the different services
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that etoral offers and the different asset classes that you
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offer no investors can access.
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Yeah, so a multi asset trading platform. We've been around
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almost twenty years in seventy five countries, so we of
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course offer crypto assets one hundred plus crypto assets in
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the US, even more abroad, and have been long term
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champions of the space, like we were the first regulated
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platform to offer bitcoin in Europe, which is way back
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in twenty thirteen. Wow. Then we also of course offer
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traditional stocks in ETFs, options, futures, and the plan is
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to keep adding more. So I think in the next
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three to six months you're going to see more more
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products rolling out, and we want to be a place
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where people can manage their overall investment portfolio in one
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spot with ease and transfer assets across the system. So
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we're we try to do it all and all build
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around this idea of social So like if you open
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any Toro account, first thing you see on our homepage
475
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is like a newsfeed, just like you would at Facebook
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or Instagram. So that's pretty cool.
477
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And then huge milestone last year Etro went public.
478
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Yeah, and that was a lot of work and a
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lot of stress. But what a moment. You know, I
480
00:24:26.640 --> 00:24:30.160
think for any company that's a huge exciting moment, but
481
00:24:30.200 --> 00:24:34.640
for especially for a company built around capital markets and
482
00:24:35.039 --> 00:24:38.920
bringing you know, financial opportunities of people. Like, what a
483
00:24:38.960 --> 00:24:41.599
moment to become a publicly traded company and to see
484
00:24:41.799 --> 00:24:44.559
maybe possibly are some of our millions of users become
485
00:24:44.640 --> 00:24:48.359
now owners of the very platform they use. And it
486
00:24:48.400 --> 00:24:51.240
was it was exciting. It was a very stressful, especially
487
00:24:51.279 --> 00:24:53.920
moment because that was planned all around the time of
488
00:24:54.400 --> 00:24:57.440
the Liberation Day oh yeah, and so we were kind
489
00:24:57.440 --> 00:25:00.319
of living and dying with these true social posts. Then
490
00:25:00.359 --> 00:25:04.279
the subsequent market ups and downs and so finally said
491
00:25:04.319 --> 00:25:05.880
you know, we're gonna just got a plan it and
492
00:25:05.880 --> 00:25:07.599
pick a date and stick with it. So we were
493
00:25:07.640 --> 00:25:11.319
the first IPO after the tariff kind of drama and
494
00:25:11.400 --> 00:25:14.799
the first crypto company in a long time, because the
495
00:25:14.799 --> 00:25:17.440
prior administration at SEC was not given a lot of
496
00:25:17.480 --> 00:25:20.519
crypto blessings. So it was really exciting for us and
497
00:25:20.640 --> 00:25:23.480
made it happen. And we saw five six other crypto
498
00:25:23.519 --> 00:25:25.839
companies coming behind us, and hopefully that will be the
499
00:25:26.000 --> 00:25:26.839
ongoing trend.
500
00:25:27.400 --> 00:25:30.440
Yeah, and that trend continues to grow. It's amazing. I
501
00:25:30.440 --> 00:25:33.240
almost have to pinch myself that crypto companies are going public.
502
00:25:33.720 --> 00:25:37.559
Yeah, yeah, absolutely, it is crazy how stuff has changed
503
00:25:37.680 --> 00:25:40.759
so quick and just year and a half, two years.
504
00:25:40.799 --> 00:25:43.759
And hopefully that trend will continue and politics won't be
505
00:25:43.880 --> 00:25:47.319
so dramatic because I think it's it shouldn't be a
506
00:25:47.359 --> 00:25:51.240
politicized topic. Yes, like just the technology, Yeah, just the
507
00:25:51.279 --> 00:25:54.960
technology that can benefit everybody. And it hurts so bad
508
00:25:55.039 --> 00:25:59.079
to see kind of weaponized and the sides you fighting
509
00:25:59.119 --> 00:26:02.599
about it because always like this could be a unifying force.
510
00:26:02.680 --> 00:26:04.960
And I still have that hope that, yeah, it will
511
00:26:05.000 --> 00:26:06.279
be so yeah.
512
00:26:06.160 --> 00:26:09.839
And I'll give an anecdotal example, you know, before it
513
00:26:09.839 --> 00:26:13.559
became politicized. I have friends and family on both sides
514
00:26:13.559 --> 00:26:16.720
of the political aisle, and no one ever said I'm
515
00:26:16.759 --> 00:26:19.200
not going to invest in crypto because it's a political
516
00:26:19.200 --> 00:26:21.880
party's ask. No, that was just like, hey, yeah, I
517
00:26:21.920 --> 00:26:23.920
want to invest in this. This looks interesting and when
518
00:26:23.920 --> 00:26:27.839
I diversify this technology looks like it's the future. There
519
00:26:27.880 --> 00:26:31.839
was never anything like that. So it's just because unfortunately,
520
00:26:32.039 --> 00:26:36.240
maybe incumbents weaponizing the political folks to attack crypto and
521
00:26:36.240 --> 00:26:36.799
things like that.
522
00:26:36.920 --> 00:26:39.400
Yeah, it's a shame, and I hope we can get
523
00:26:39.440 --> 00:26:42.680
back to that because it's like on the left side
524
00:26:42.680 --> 00:26:44.839
of the political spectrum, I always thought this should be
525
00:26:44.839 --> 00:26:48.599
an issue y'all embrace because I mean, it was built
526
00:26:48.799 --> 00:26:51.359
like in the wake of financial crisis and big banks
527
00:26:51.400 --> 00:26:56.160
controlling and kind of big corporate scandals, and this could
528
00:26:56.200 --> 00:26:58.440
be an issue like the left, power to the people,
529
00:26:58.519 --> 00:27:01.079
this is our own system or progressive And on the
530
00:27:01.079 --> 00:27:03.799
other day side, the right is you know, hey, this
531
00:27:03.920 --> 00:27:07.559
is innovation and giving people more freedom over their currencies,
532
00:27:07.720 --> 00:27:10.519
Like this should be something that unites this but that
533
00:27:10.680 --> 00:27:13.000
is not the political system we live in today. There's
534
00:27:13.039 --> 00:27:15.279
not a lot of things you not in us. But
535
00:27:15.359 --> 00:27:18.640
maybe one day it'll be digital assets and blockchain and bitcoin.
536
00:27:19.279 --> 00:27:22.319
Yeah, and you know, Andrew, I'm sure you probably agree
537
00:27:22.359 --> 00:27:25.240
with this, but over time, it's no longer going to
538
00:27:25.279 --> 00:27:27.720
be segmented the stock market because they're putting all this
539
00:27:27.759 --> 00:27:29.559
stuff on the blockchain, it's just going to be the market.
540
00:27:29.799 --> 00:27:34.559
Yeah. Absolutely, People like love saying trad fye DeFi, and
541
00:27:34.640 --> 00:27:36.920
I'm like kind of burned out of these phrases, So
542
00:27:37.000 --> 00:27:40.000
I look forward to it someday soon just being finance
543
00:27:40.160 --> 00:27:43.359
finance because this is just a different technology, right. So
544
00:27:44.200 --> 00:27:47.839
trad fi just ten years ago, you know, was not mobile.
545
00:27:48.039 --> 00:27:50.720
It was just like on your home computer. And ten
546
00:27:50.799 --> 00:27:54.480
years before that you were walking into somebody's office and investing,
547
00:27:54.720 --> 00:27:57.599
and ten years before that maybe you're mailing stuff in,
548
00:27:57.680 --> 00:28:01.079
and so this is just the next iteration. Yeah, it's
549
00:28:01.200 --> 00:28:03.759
I think everything's coming on chain. Everything will be part
550
00:28:03.759 --> 00:28:07.119
of the blockchain, and it'll just be technology and finance
551
00:28:07.160 --> 00:28:08.920
and investing in not these buzzwords.
552
00:28:09.119 --> 00:28:13.200
Oh for sure you mentioned the word or the next iteration.
553
00:28:14.240 --> 00:28:17.680
So speaking of that, AI has been grown in prominence,
554
00:28:17.920 --> 00:28:22.319
and there's certainly a lot of common ground for AI
555
00:28:22.400 --> 00:28:25.039
and blockchain where they can benefit each other. So I'm
556
00:28:25.079 --> 00:28:28.680
curious how is each tour using AI, whether it's AI
557
00:28:28.759 --> 00:28:31.079
assistance agents for the investors.
558
00:28:31.480 --> 00:28:34.400
Yeah, so I think there's two angles here, one internally
559
00:28:34.440 --> 00:28:38.599
as a team we're using AI constantly, like to build
560
00:28:38.680 --> 00:28:44.160
better products faster, quicker, more lean, even like compliance tools,
561
00:28:44.160 --> 00:28:46.920
building compliance tools to try to get like you know,
562
00:28:46.960 --> 00:28:50.480
to the relevant rules and topics quicker. So as a team,
563
00:28:50.559 --> 00:28:53.839
we are leaning, I know, we are crashing into AIS
564
00:28:53.880 --> 00:28:56.000
as much as we can and seeing the like the
565
00:28:56.039 --> 00:28:59.640
benefits of it externally of doing a lot. So we
566
00:28:59.720 --> 00:29:02.720
have very detailed AI chatbot where you can go to
567
00:29:02.759 --> 00:29:06.079
it for questions tips. It doesn't give financial advice yet
568
00:29:06.400 --> 00:29:08.880
I think one day that will absolutely be the case,
569
00:29:08.920 --> 00:29:11.279
but just trying to help you learn and educate as
570
00:29:11.319 --> 00:29:14.240
a tool. We also have a platform where our own
571
00:29:14.279 --> 00:29:17.720
customers can build their own tools, put them on the platform,
572
00:29:17.799 --> 00:29:20.160
allow others to use it because we see AI and
573
00:29:20.200 --> 00:29:24.039
social being very relevant here and so excited about the
574
00:29:24.039 --> 00:29:27.000
future here. Certainly, some of it is a lot, and
575
00:29:27.039 --> 00:29:30.400
it changes constantly. Just it seems like every week there's
576
00:29:30.400 --> 00:29:33.279
new tools coming out, new opportunities. But ETRO we are
577
00:29:33.759 --> 00:29:36.079
running towards this as fast as we can because one,
578
00:29:36.160 --> 00:29:41.039
it's helpful to it empowers investors, and I think there's
579
00:29:41.079 --> 00:29:46.000
this great information asymmetry between the haves and the have nots,
580
00:29:46.119 --> 00:29:50.759
Wall Street and regular investors because I may love a company,
581
00:29:50.880 --> 00:29:53.119
I may love a stock. I do not have the
582
00:29:53.160 --> 00:29:57.440
time to read a perspectus attends like Q or any
583
00:29:57.480 --> 00:30:00.440
of these things. But if AI tool can do that
584
00:30:00.480 --> 00:30:02.559
same thing in twenty seconds and give me the like,
585
00:30:02.599 --> 00:30:05.880
so what yah, the are exactly like, what a powerful
586
00:30:05.920 --> 00:30:08.119
tool that is, and so really excited to see our
587
00:30:08.160 --> 00:30:09.599
customers embrace that as well.
588
00:30:09.880 --> 00:30:14.319
Yeah, I dream of an ideal world where I have
589
00:30:14.400 --> 00:30:18.039
an AI avatar, so to speak. It is running twenty
590
00:30:18.039 --> 00:30:21.359
four to seven, is looking at all my investment investments,
591
00:30:21.559 --> 00:30:23.200
and in the morning it gets me, gives me a
592
00:30:23.279 --> 00:30:26.319
quick summary. Hey, Tony, here's what happened with crypto and
593
00:30:26.400 --> 00:30:28.920
so on and so forth. Here's what I recommend you
594
00:30:28.920 --> 00:30:31.039
should think about this in the short term, near term,
595
00:30:31.200 --> 00:30:33.480
long term. That would make my life.
596
00:30:33.680 --> 00:30:37.759
Yeah. Absolutely, it's coming, and I think it's coming so
597
00:30:37.880 --> 00:30:42.279
much quicker than anyone imagines. And so that day we'll
598
00:30:42.279 --> 00:30:44.440
be here, you would miss I think some of the
599
00:30:44.480 --> 00:30:47.000
fun of it, Oh yeah, oh for sure, it's some
600
00:30:47.039 --> 00:30:50.440
of that like emotion, and we could always find the
601
00:30:50.440 --> 00:30:53.000
emotion of investing. Even though you take a loss, you'll
602
00:30:53.079 --> 00:30:55.880
learn from it. But yeah, that day of the agent
603
00:30:56.039 --> 00:30:58.920
is telling you, Hey, this is what's happening, what you do.
604
00:30:58.960 --> 00:31:01.680
But I think even that agent is doing everything for
605
00:31:01.759 --> 00:31:05.000
you is coming soon. I think for companies like Eutro,
606
00:31:05.200 --> 00:31:08.160
it's great, right. I think were gonna see huge upticks
607
00:31:08.160 --> 00:31:11.680
and training volumes because like, hey, maybe I can play
608
00:31:11.960 --> 00:31:14.119
a few trades a week, right, but if you have
609
00:31:14.240 --> 00:31:18.759
an agent who, hey, Andrew loves this specific stock, like
610
00:31:18.880 --> 00:31:20.920
every time it goes up and down two percent, just
611
00:31:21.000 --> 00:31:23.960
buy ten dollars more. Right, stuff like that, I think
612
00:31:24.000 --> 00:31:27.240
you see a lot more at trading activity and investors,
613
00:31:27.319 --> 00:31:30.440
through their agents their avatars, be more engaged.
614
00:31:31.279 --> 00:31:34.599
And to your point, it will also allow people to
615
00:31:34.920 --> 00:31:36.799
branch out beyond the things they know.
616
00:31:36.880 --> 00:31:37.440
We were talking.
617
00:31:37.519 --> 00:31:40.680
We started a conversation with investing things like you know
618
00:31:40.799 --> 00:31:44.279
Nike or yeah brands. But guess what, there's other markets
619
00:31:44.319 --> 00:31:46.599
out there. If I don't have the time to go
620
00:31:46.640 --> 00:31:50.200
research what's happening in Hong Kong or that regent Ai agent,
621
00:31:50.359 --> 00:31:53.039
go do your work, come back and tell me similar
622
00:31:53.039 --> 00:31:55.480
companies to Nike, O, what's trending or what's popularly.
623
00:31:55.839 --> 00:31:58.680
Yeah, it'll be great. There's endless opportunities out there. And
624
00:31:58.720 --> 00:32:00.400
again it's all while I think break can out of
625
00:32:00.480 --> 00:32:03.839
that bubble. Yeah, we know these big American company names,
626
00:32:03.880 --> 00:32:08.319
but I'm sure on the Dubai Stock Exchange there's some
627
00:32:08.480 --> 00:32:12.640
awesome like shoe company there that maybe the growth opportunities
628
00:32:12.640 --> 00:32:14.559
are like ten x more but I don't know it.
629
00:32:14.599 --> 00:32:17.039
But yeah, and AI tool can help us get there.
630
00:32:17.039 --> 00:32:20.119
Maybe I'll look that up later, like give me credit. Yeah,
631
00:32:21.359 --> 00:32:24.640
up and coming like sneakery companies are publicly traded outside
632
00:32:24.680 --> 00:32:25.319
the US.
633
00:32:25.440 --> 00:32:28.519
Yeah, and it can aggregate all the news, all the
634
00:32:28.640 --> 00:32:31.319
data and to summarize it. That'd be amazing.
635
00:32:31.720 --> 00:32:34.559
It's coming, it's coming, and a robot and do my
636
00:32:34.640 --> 00:32:36.400
laundry way.
637
00:32:36.720 --> 00:32:39.240
So on that note of going beyond your bubble and
638
00:32:39.279 --> 00:32:43.640
branching out to other markets, there's a move to put stocks, equities,
639
00:32:43.680 --> 00:32:47.000
and other assets on chain. Now not everyone around the
640
00:32:47.000 --> 00:32:49.279
world can access let's say, to the New York Stock
641
00:32:49.279 --> 00:32:52.519
Exchange or to S and P five hundred. So when
642
00:32:52.640 --> 00:32:56.440
these assets are tokenized, how is I don't know if
643
00:32:56.440 --> 00:32:57.920
you can share this, but how are you and a
644
00:32:58.000 --> 00:33:01.599
team looking at inter rereading that from markets that can't
645
00:33:01.640 --> 00:33:03.759
access it, but now they can because it's in a
646
00:33:03.799 --> 00:33:04.640
tokenized format.
647
00:33:05.200 --> 00:33:07.960
Yeah, a lot of opportunities with tokenization, and we are
648
00:33:08.079 --> 00:33:10.680
so early on this stage, Like I did some like
649
00:33:10.799 --> 00:33:14.759
rough research recently where I think I saw like about
650
00:33:14.759 --> 00:33:17.880
ten billion dollars of money market funds, ten billion dollars
651
00:33:17.920 --> 00:33:21.680
of treasuries, one billion dollars of equities have been tokenized
652
00:33:21.680 --> 00:33:24.519
so far. If you look at those markets overall, that's
653
00:33:24.559 --> 00:33:28.599
like something like point one percent of like those markets,
654
00:33:28.599 --> 00:33:31.000
So it's a big increase from a year ago, is
655
00:33:31.039 --> 00:33:34.680
still tiny. So like what if ten percent of those
656
00:33:34.720 --> 00:33:37.440
markets become tokenized and now you're looking at like of
657
00:33:37.480 --> 00:33:40.119
one hundred and fifty trillion just like fifteen trillion, So
658
00:33:40.720 --> 00:33:43.240
it's going to be massive. I think there's a few
659
00:33:43.240 --> 00:33:45.599
different ways different issuers are looking at it. And one
660
00:33:45.759 --> 00:33:49.480
is like you are just wrapping the normal security with
661
00:33:49.559 --> 00:33:53.599
the token and that typical stock certificate sitting somewhere in
662
00:33:53.720 --> 00:33:58.000
DTC like and you just have this token that represents it.
663
00:33:58.359 --> 00:34:00.799
I think that's going to be step one. Step two
664
00:34:00.920 --> 00:34:04.079
is like the whole thing is just tokenized, Like there
665
00:34:04.200 --> 00:34:08.119
is no like traditional representation of this security. It's just
666
00:34:08.639 --> 00:34:13.079
all tokenized. And I think that's the massive unlock where
667
00:34:13.800 --> 00:34:16.800
one day you and I go out to lunch at
668
00:34:16.880 --> 00:34:21.679
like Chipotle, and my meal wasn't great yours you loved.
669
00:34:21.719 --> 00:34:24.639
I was like, hey, I'll like sell you my Chipotle
670
00:34:24.920 --> 00:34:27.719
like token to you that represents a couple of shares
671
00:34:27.800 --> 00:34:30.039
and I just send it like straight to you through
672
00:34:30.079 --> 00:34:34.400
like DeFi wallets. I think that's the long run. We
673
00:34:34.400 --> 00:34:38.199
were talking with regulators about steps we can take before
674
00:34:38.239 --> 00:34:40.719
there to get to that kind of endpoint. I think.
675
00:34:40.880 --> 00:34:43.559
I think, you know, definitely looking to see what the
676
00:34:43.599 --> 00:34:46.559
exchanges are doing, and they're kind of taking two different approaches,
677
00:34:47.360 --> 00:34:49.480
and what they do, I think is going to impact
678
00:34:49.880 --> 00:34:52.800
the entire system, not just a trading platform and how
679
00:34:52.840 --> 00:34:56.000
we trade, but even Etro as an issuer. Right, so
680
00:34:56.039 --> 00:35:00.199
we're NASDAK GLICID and if Nasdak's proposals like hey, all
681
00:35:00.320 --> 00:35:03.119
issues can have wrap tokens like, then we're looking at
682
00:35:03.199 --> 00:35:05.920
not just hey how can people trade these wrap tokens
683
00:35:05.960 --> 00:35:08.400
on our platform in the US or Europe other places,
684
00:35:08.400 --> 00:35:11.880
but how can we wrap our own token and have
685
00:35:12.000 --> 00:35:15.039
it like token ises. So it's coming. It's so early,
686
00:35:15.400 --> 00:35:18.400
especially when you actually look at the numbers, but it's
687
00:35:18.440 --> 00:35:20.199
going to be so different and I think two years,
688
00:35:20.199 --> 00:35:21.239
three years.
689
00:35:21.119 --> 00:35:23.280
Yeah, I mean we're seeing the announcements of the New
690
00:35:23.320 --> 00:35:25.760
York Soccer Change in Nazac looking to go twenty four
691
00:35:25.880 --> 00:35:28.159
or five. I believe it is eventually twenty four to seven,
692
00:35:28.559 --> 00:35:31.679
but kind of emulating the crypto market, right, having that
693
00:35:32.519 --> 00:35:36.519
non stop market running, no closes holidays.
694
00:35:36.000 --> 00:35:39.239
Week Yeah, yeah, it's cause it's crazy. I mean, was
695
00:35:39.280 --> 00:35:42.000
it last Saturday? Woke up to the news of the
696
00:35:42.039 --> 00:35:46.960
attacks in Iran? And this is like a global massive
697
00:35:47.119 --> 00:35:49.239
I mean, I can't really think of a bigger news story,
698
00:35:49.320 --> 00:35:52.519
but the fact that you can't log into an account
699
00:35:52.599 --> 00:35:59.400
and trade four thousand plus companies or ETFs because it's
700
00:35:59.480 --> 00:36:02.039
like a weekend, like that's kind of kind of nuts.
701
00:36:02.119 --> 00:36:04.519
But then but you can look at bitcoin and it's
702
00:36:04.679 --> 00:36:07.440
up down or other related tokens, and so I think
703
00:36:07.480 --> 00:36:09.599
one day we'll be in that world where it's all
704
00:36:09.599 --> 00:36:13.599
trading constantly in firms like e Toro. We'll kind of
705
00:36:13.639 --> 00:36:16.440
have to figure out how you staff that. I think
706
00:36:16.480 --> 00:36:19.360
we have an advantage there because we're already staffed across
707
00:36:19.400 --> 00:36:23.280
the world, so somebody's awake, yes, somewhere. But yeah, it's
708
00:36:23.320 --> 00:36:26.960
really it's really cool to see that coming and things
709
00:36:26.960 --> 00:36:30.320
happen fast. I mean six seven years ago, everybody's paying
710
00:36:30.480 --> 00:36:34.320
five ten dollars commissions on everything five years before that.
711
00:36:34.760 --> 00:36:37.159
You buy a mutual fund or ETF and you are
712
00:36:37.199 --> 00:36:40.519
getting a two hundred page packet in the mail, And
713
00:36:41.480 --> 00:36:43.280
this is like when I've been in the industry so
714
00:36:43.360 --> 00:36:45.440
like it makes me feel so old that these are
715
00:36:46.079 --> 00:36:48.119
worlds that used to live in. I remember when like
716
00:36:48.239 --> 00:36:50.400
e trade went from maybe eight ninety nine to five
717
00:36:50.559 --> 00:36:53.239
ninety nine commissions like, oh awesome, this is great, and
718
00:36:53.320 --> 00:36:55.679
now that seems like prehistoric. Right.
719
00:36:56.559 --> 00:36:58.280
Speaking of Morgan Stanley, I don't know if you saw
720
00:36:58.320 --> 00:37:00.920
the news yesterday. They're looking to follow for their first
721
00:37:01.559 --> 00:37:05.760
bigcoin ETF. It's amazing how Morgan and these other major
722
00:37:05.800 --> 00:37:09.519
tradi five firms are embracing crypto and blockchain. What's it like,
723
00:37:09.559 --> 00:37:10.599
you know, looking back at that.
724
00:37:10.760 --> 00:37:13.639
Yeah, it feels strange because when I was in that
725
00:37:13.719 --> 00:37:15.960
world talking about crypto, everyone kind of looked at me
726
00:37:16.000 --> 00:37:18.159
a little bit like what are you talking about? We
727
00:37:18.760 --> 00:37:21.440
don't get all. This feels like a little strange, but
728
00:37:21.639 --> 00:37:24.880
I love it. You know. Some of the crypto ogs
729
00:37:25.039 --> 00:37:27.639
don't love Wall Street coming into the space, but I'm
730
00:37:27.679 --> 00:37:30.239
a big tent guy. Like the more people in this space,
731
00:37:30.360 --> 00:37:32.639
the more innovation, the more we can help people. People
732
00:37:32.679 --> 00:37:35.360
can learn from each other. So I love to see it,
733
00:37:35.400 --> 00:37:38.760
and there seems to be going in on the trading
734
00:37:38.920 --> 00:37:42.679
the occ kind of charter and custody and ETFs, and
735
00:37:42.800 --> 00:37:45.719
I think it's awesome to see and it really is
736
00:37:45.760 --> 00:37:50.360
a validator of this is a real asset class. I know,
737
00:37:50.559 --> 00:37:53.239
some famous people over the years kept saying bitcoin is
738
00:37:53.280 --> 00:37:56.199
going to die and go to zero, and it hasn't,
739
00:37:56.400 --> 00:38:00.719
especially if you have these kinds of institutions investing billions
740
00:38:00.719 --> 00:38:04.039
and billions into this, like it's it's here to stay.
741
00:38:04.119 --> 00:38:05.360
So I'm excited to see you.
742
00:38:05.880 --> 00:38:08.079
Yeah, it's just amazing. Over the past year, so many
743
00:38:08.159 --> 00:38:11.320
dominoes have fallen, and even the naysayers that people are like,
744
00:38:11.320 --> 00:38:14.840
well will never offer it, they capitulated and get dropped
745
00:38:14.840 --> 00:38:15.679
the name Vanguard.
746
00:38:16.079 --> 00:38:20.239
Yeah for sure. Like I've had big art mutual funds forever,
747
00:38:20.320 --> 00:38:22.199
and I've been kind of petty over the years and
748
00:38:22.320 --> 00:38:25.360
like y'all like you're kind of ants on crypto, and
749
00:38:25.639 --> 00:38:28.239
you know, like so I put less money into those
750
00:38:28.320 --> 00:38:31.280
mutual funds and ETFs, and so it's cool to see
751
00:38:31.599 --> 00:38:35.199
them embrace it, and because look, it's it's a technology. Yeah,
752
00:38:35.239 --> 00:38:38.960
and if you have users trying to buy, especially like
753
00:38:39.000 --> 00:38:42.199
an ETF that's a highly regulated product offered by some
754
00:38:42.239 --> 00:38:44.760
of the biggest, funniest institutions in the world, like and
755
00:38:44.760 --> 00:38:47.400
your customers want it, and I used to be allowed
756
00:38:47.440 --> 00:38:50.480
to buy it. I see, it's like freedom and my
757
00:38:50.559 --> 00:38:53.760
little mission. This year I had some like old accounts
758
00:38:53.480 --> 00:38:56.400
that a big name firm I wouldn't say, they would
759
00:38:56.440 --> 00:38:59.639
not let me buy any bitcoin ETFs and accounts. Wow.
760
00:38:59.760 --> 00:39:03.159
I signed disclosure documents and they still wouldn't let me
761
00:39:03.199 --> 00:39:05.199
buy it, and so I closed my accounts and I
762
00:39:05.239 --> 00:39:08.079
sent a letter. I'm like, this is about freedom and
763
00:39:08.199 --> 00:39:10.320
me as a retail investor, I should be able to
764
00:39:10.400 --> 00:39:13.440
have the ability to buy an exchange list of product
765
00:39:13.480 --> 00:39:16.000
that's highly regulated if I think that's what's best for me,
766
00:39:16.199 --> 00:39:19.079
my family in my future. If you can't support that,
767
00:39:19.119 --> 00:39:21.840
then I'm not going to be customer anymore. I don't
768
00:39:21.880 --> 00:39:24.159
think they cared, but still I felt good about it
769
00:39:24.239 --> 00:39:28.679
making a decision like that. But I bet they will
770
00:39:28.719 --> 00:39:29.960
eventually join the crowd.
771
00:39:31.679 --> 00:39:34.039
I've had a bit of that experience as well with
772
00:39:34.239 --> 00:39:37.519
my financial advisor, which that's more so my wife. My
773
00:39:37.599 --> 00:39:42.800
wife she handles debt to tradfire where I dig it cool,
774
00:39:42.920 --> 00:39:45.400
but they were very late. I don't think. I still
775
00:39:45.440 --> 00:39:47.760
don't think they offer it, but yeah, they were like, yeah,
776
00:39:47.800 --> 00:39:50.079
we can, we offer that right now.
777
00:39:51.079 --> 00:39:54.199
Yeah, this is I talked about this last year's Bitcoin
778
00:39:54.280 --> 00:39:57.760
conference because at the time, especially bitcoin was maybe one
779
00:39:57.840 --> 00:40:00.559
twenty or something, it isn't one of the big big moments,
780
00:40:00.559 --> 00:40:05.760
and everybody was talking about the national reserves, the state reserves,
781
00:40:05.840 --> 00:40:09.079
the corporate treasuries. And I said, the thing that everybody's like,
782
00:40:09.159 --> 00:40:12.760
not I think paying attention enough to are the financial
783
00:40:12.840 --> 00:40:15.800
advisors and the unlocked there. And I remember at the
784
00:40:15.840 --> 00:40:17.920
time I did some research and there was something like
785
00:40:18.400 --> 00:40:22.039
two hundred thousand plus financial advisors in the United States
786
00:40:22.079 --> 00:40:26.960
alone who each quarter, each month they're meeting with dozens
787
00:40:27.039 --> 00:40:31.960
or hundreds of clients talking about their roadmap financial plan
788
00:40:32.519 --> 00:40:36.920
and most of them can't even talk about bitcoin, can't
789
00:40:36.920 --> 00:40:41.440
even talk about the ETFs, so they certainly can't recommend
790
00:40:41.519 --> 00:40:44.960
it to you. So what happens in even three years
791
00:40:45.039 --> 00:40:49.199
where you have this army suddenly of people who can
792
00:40:49.519 --> 00:40:52.480
not just talk to you about crypto assets, but say, hey,
793
00:40:53.519 --> 00:40:56.639
you're looking at your financial planning, you got thirty years
794
00:40:56.679 --> 00:41:00.320
to retirement, twenty years for retirement, you should invest five
795
00:41:00.360 --> 00:41:04.159
percent and bitcoin or whatever the number is like, that's
796
00:41:04.199 --> 00:41:07.480
a massive unlock. I think for the ecosystem that we
797
00:41:07.599 --> 00:41:09.679
haven't really been focused on that. But that's that's my
798
00:41:09.719 --> 00:41:11.639
wild card. I think it's gonna make a huge difference.
799
00:41:11.760 --> 00:41:13.880
Oh yeah, no, I have totally an agreement with you.
800
00:41:14.000 --> 00:41:18.159
That's gonna be huge. Let's talk about the stable coin market.
801
00:41:18.280 --> 00:41:20.679
We got the Genius Act pass last year. There's a
802
00:41:20.719 --> 00:41:22.960
lot of folks looking to issue stable coins now, the
803
00:41:23.000 --> 00:41:27.199
adoption is growing. How is etor leveraging stable coins? Are
804
00:41:27.239 --> 00:41:29.440
you planning to launch your own stable coin? What can
805
00:41:29.480 --> 00:41:30.000
you share there?
806
00:41:30.519 --> 00:41:33.239
Yeah, it's so exciting to see this space, and it
807
00:41:33.400 --> 00:41:38.880
shows you what legislation can unlock because weeks after me,
808
00:41:39.079 --> 00:41:41.840
days or hours after a Genius Act pass, you have
809
00:41:42.000 --> 00:41:45.400
seems like every big bank announcing they're doing things in
810
00:41:45.440 --> 00:41:49.039
the space, even small credit unions, Western unions. So a
811
00:41:49.079 --> 00:41:52.840
powerful moment. There's stable coin that we enable trading of
812
00:41:53.039 --> 00:41:57.440
on our platform. No plans in my head to launch
813
00:41:57.440 --> 00:42:01.400
our own because I think there's some oversat in that
814
00:42:01.519 --> 00:42:04.639
market at the moment and some great providers. But what
815
00:42:04.679 --> 00:42:08.840
we allow is part of our multi asset vibe in
816
00:42:08.960 --> 00:42:12.119
DNA is people can bring in stable coins and they
817
00:42:12.119 --> 00:42:16.119
can use that to trade traditional equities or ETFs or
818
00:42:16.159 --> 00:42:18.679
options to kind of bridge those two. So if you
819
00:42:18.760 --> 00:42:23.000
bring in your USDC through wallets, and then you can
820
00:42:23.039 --> 00:42:25.559
bring in turf platform, sell it, and then you can
821
00:42:25.599 --> 00:42:29.760
buy a Vanguard SMP five hundred ETF or Chipotle stock
822
00:42:29.880 --> 00:42:32.800
or ethereum, whatever it is. And so we see as
823
00:42:32.840 --> 00:42:38.000
a great bridge between tri FI and DeFi, and it's
824
00:42:38.079 --> 00:42:41.599
it's really exciting, and I think that impact from the
825
00:42:41.679 --> 00:42:44.440
legislation gives me hope that we'll see the same for
826
00:42:44.480 --> 00:42:48.320
the broader ecosystem. If we see market structure legislations.
827
00:42:48.639 --> 00:42:51.440
Yeah, fingers crossed. Market structure can get through this year,
828
00:42:51.679 --> 00:42:53.679
it would be so huge for the industry and adoption
829
00:42:53.760 --> 00:42:56.960
and innovation, and hopefully they can sort out what's happened
830
00:42:57.000 --> 00:42:58.880
with the banks who are pushing back on stable coin
831
00:42:58.920 --> 00:43:00.440
yield and come to some commonise.
832
00:43:00.760 --> 00:43:03.480
Yeah, I sure hope. So I've been telling people for
833
00:43:04.360 --> 00:43:07.760
nine years that legislation is coming hopefully soon. Like I
834
00:43:07.800 --> 00:43:11.480
was at E Trade talking about digital assets and there
835
00:43:11.519 --> 00:43:14.440
was some anxiety because like, well, is this a security
836
00:43:14.679 --> 00:43:17.199
or not security? I'm like, well, soon we'll have legislation
837
00:43:17.360 --> 00:43:20.840
on this to answer this and that was twenty seventeen,
838
00:43:20.960 --> 00:43:23.440
twenty eighteen and all the way on. But then last
839
00:43:23.519 --> 00:43:25.440
year I was on Capitol Hill, so I'm talking about
840
00:43:25.480 --> 00:43:28.599
these issues, and everyone was really confident it would be
841
00:43:28.559 --> 00:43:32.599
the end of last year, and then it became January, February, March.
842
00:43:32.760 --> 00:43:35.519
But I was at an event yesterday where people said
843
00:43:35.519 --> 00:43:38.920
they're very confident it will be this spring, and it
844
00:43:39.000 --> 00:43:41.800
is so important it happens. And I hope that people
845
00:43:41.880 --> 00:43:45.039
realize there's no perfect bill, but if it's something that
846
00:43:45.239 --> 00:43:48.239
is a B plus in your eyes, even a bee,
847
00:43:48.760 --> 00:43:50.599
that it is a whole lot better than what we
848
00:43:50.639 --> 00:43:54.079
have today because the reality of today the crypto companies
849
00:43:54.199 --> 00:43:57.000
like e Toro and others, and I think more importantly,
850
00:43:57.039 --> 00:44:00.280
these entrepreneurs are in college dorm rooms come up with
851
00:44:00.760 --> 00:44:05.760
cool ideas. What is dictating what's allowed and not our
852
00:44:05.920 --> 00:44:09.440
laws from the nineteen thirties, a Supreme Court case from
853
00:44:09.519 --> 00:44:13.280
nineteen forty six about orange trees. Yeah, it is nuts
854
00:44:13.360 --> 00:44:15.360
that this is the kind of rules of the road,
855
00:44:15.519 --> 00:44:18.920
and so we've got to get something in place, and
856
00:44:19.000 --> 00:44:20.960
hopefully this is the season.
857
00:44:21.800 --> 00:44:24.280
Yeah, And one of the good things we're seeing is
858
00:44:24.320 --> 00:44:26.679
that even if the clarity actor is being held up.
859
00:44:26.920 --> 00:44:30.800
The SEC and the CFTC are working in lockstep cheer
860
00:44:30.880 --> 00:44:34.400
Atkins and Sea leg They've both been meeting and putting
861
00:44:34.440 --> 00:44:37.679
out guidance and rules. So maybe that can help help
862
00:44:37.679 --> 00:44:39.800
alleviate some of the concerns of innovators.
863
00:44:40.079 --> 00:44:43.079
It helps a ton, and I'm so thankful for it
864
00:44:43.840 --> 00:44:48.239
that I've lived through violent swings at the SEC in
865
00:44:48.320 --> 00:44:54.360
CFTC and speeches are awesome, guidance are is wonderful. Well,
866
00:44:54.360 --> 00:44:57.159
we need something that will stay in the test of time,
867
00:44:57.719 --> 00:45:00.960
beyond political elections, because I I think the worst thing
868
00:45:01.000 --> 00:45:05.119
that could happen is if there's an administration change and
869
00:45:05.199 --> 00:45:07.920
it's a violent swing to the other side, because then
870
00:45:07.960 --> 00:45:10.119
what do you do? What's the new rules and the standard.
871
00:45:10.199 --> 00:45:15.679
But if you have legislation, especially and it's cemented, just
872
00:45:15.760 --> 00:45:18.559
like the nineteen thirty three Securities Act, how many different
873
00:45:18.679 --> 00:45:21.920
presidents and political ups downs left rights there has been,
874
00:45:21.960 --> 00:45:24.519
but those are still the rules. So we need that
875
00:45:25.039 --> 00:45:28.199
twenty twenty six Clarity Act or whatever it's ultimately called.
876
00:45:28.199 --> 00:45:30.559
That then one hundred years from now, when that last
877
00:45:30.599 --> 00:45:35.239
bitcoin is being mined, like that still dictates how this
878
00:45:35.360 --> 00:45:35.800
is treated.
879
00:45:36.000 --> 00:45:38.599
That's a great point because I do not want to
880
00:45:38.599 --> 00:45:41.639
see another Gary Genser type come back to the SEC.
881
00:45:42.119 --> 00:45:45.639
Yeah, and it was destructive. Yeah, And you know, and look,
882
00:45:45.679 --> 00:45:50.760
I'm a raw, raw American public service public servant. You
883
00:45:50.920 --> 00:45:52.880
got to be balanced and fair, and I think a
884
00:45:52.920 --> 00:45:55.719
lot of things that people saw the SEC were not
885
00:45:55.880 --> 00:46:00.159
core to American principles of like liberty and freedom. The
886
00:46:00.199 --> 00:46:02.760
SEC has so many important mandates and so many people
887
00:46:02.800 --> 00:46:06.679
I respect work there, but got to protect investors, make
888
00:46:06.719 --> 00:46:09.360
sure there's fair disclosure. But there's got to be capital
889
00:46:09.400 --> 00:46:12.039
formation too, where you've got to have an ecosystem where
890
00:46:12.079 --> 00:46:15.159
people can innovate and have clear rules of the road
891
00:46:15.159 --> 00:46:18.280
and expectations so they can invest and create jobs and
892
00:46:18.320 --> 00:46:22.039
make money and help their families. That kind of like
893
00:46:22.159 --> 00:46:25.320
just disappeared, and I think it was harmful, and I
894
00:46:25.360 --> 00:46:29.559
think it was a massive political misstep for one side
895
00:46:29.599 --> 00:46:32.960
of political spectrum that I think hurts everybody. And so
896
00:46:33.239 --> 00:46:35.760
I did not want to see that happen again. And
897
00:46:35.880 --> 00:46:39.079
I try to be I just like both political sides,
898
00:46:39.119 --> 00:46:42.280
so I have like straight down the middle me too. Regardless,
899
00:46:42.360 --> 00:46:45.599
you just got to have smart and wise policy and
900
00:46:46.039 --> 00:46:50.039
judgment and legislation can stand in a test of time,
901
00:46:50.119 --> 00:46:52.840
regardless of who's in that politically appointed seat.
902
00:46:53.159 --> 00:46:56.119
Yeah, well said, I love to get your thoughts on
903
00:46:56.159 --> 00:46:59.760
the market, not necessarily, not necessarily price predictions, Excuse me.
904
00:47:00.800 --> 00:47:03.079
I obviously a big liquidation event that took place in
905
00:47:03.159 --> 00:47:04.360
Q four in October.
906
00:47:04.519 --> 00:47:05.199
But it seems like.
907
00:47:05.119 --> 00:47:07.159
We're bottoming out a bit. There may be a little
908
00:47:07.199 --> 00:47:10.199
bit more downside, you know. Do you see us finding
909
00:47:10.239 --> 00:47:12.800
a bottom soon? And maybe later this year we start
910
00:47:12.840 --> 00:47:15.159
to pick up steam again, entering a new bull cycle.
911
00:47:15.519 --> 00:47:18.840
Yeah. Look, I'm always encouraged, and you know, maybe to
912
00:47:18.960 --> 00:47:21.599
a fault sometimes, So I see these kind of drops
913
00:47:21.599 --> 00:47:24.679
as like great opportunities, and a lot of our customers
914
00:47:24.679 --> 00:47:26.599
do as well. It's interesting, like we've got a lot
915
00:47:26.599 --> 00:47:31.360
of og true believers, so when we see these big dips,
916
00:47:31.440 --> 00:47:35.039
they're big buyers. But it was comforting to see a
917
00:47:35.039 --> 00:47:36.960
couple of weeks ago we were like, you know, going
918
00:47:37.000 --> 00:47:39.480
from seventies to sixties. It was like, what happens if
919
00:47:39.800 --> 00:47:43.039
that first numbers of five? And how are people going
920
00:47:43.079 --> 00:47:45.840
to react? So it's cool to see that balance back up,
921
00:47:45.920 --> 00:47:48.480
and this week things seem to be going well, so
922
00:47:49.440 --> 00:47:51.360
can never certainly predict it. And when we were at
923
00:47:51.400 --> 00:47:54.519
one twenty in October. I certainly didn't think we'd be
924
00:47:54.639 --> 00:47:57.320
in the sixties three or four months later, but I
925
00:47:57.440 --> 00:48:01.000
feel I feel good about the progress, and i'd always
926
00:48:01.039 --> 00:48:04.880
try to zoom out, yes, because I've now I wouldn't
927
00:48:04.880 --> 00:48:07.079
even call this the crypto winner, like it went down
928
00:48:07.159 --> 00:48:12.039
forty percent, which in traditional finance, like that's crushing, But
929
00:48:12.199 --> 00:48:15.000
Bitcoin like the other last couple of big drops from
930
00:48:15.079 --> 00:48:18.840
like seventy five eighty percent, and I've lived through the
931
00:48:18.920 --> 00:48:22.119
last drop from the FTX kind of era went from
932
00:48:22.239 --> 00:48:26.280
sixty to like thirteen, And I remember the ride in
933
00:48:26.400 --> 00:48:32.039
twenty eighteen from like twenty down to three, and so
934
00:48:32.239 --> 00:48:35.000
now I've seeing one twenty down to sixty two or
935
00:48:35.039 --> 00:48:37.199
sixty three wherever that kind of bottom was, like if
936
00:48:37.199 --> 00:48:42.320
you zoom out, like, okay, overall this price graph is
937
00:48:42.360 --> 00:48:45.599
looking encouraging if you zoom out a little bit.
938
00:48:45.920 --> 00:48:49.519
Yeah, it's always I always recommended people zoom out, have
939
00:48:49.639 --> 00:48:52.519
the macro view, because if you're caught up into hourly
940
00:48:52.679 --> 00:48:55.159
daily it's gonna drive you nuts.
941
00:48:55.280 --> 00:48:57.880
Yeah. At the Money Show, I talked to a gentleman
942
00:48:57.920 --> 00:49:01.280
who is his kids had got into a big coin recently,
943
00:49:01.400 --> 00:49:03.519
and he said they're like a nervous wreck they check
944
00:49:03.559 --> 00:49:06.360
it all the time and they're down forty. I'm like,
945
00:49:06.920 --> 00:49:09.079
the best thing you do is close your eyes. And
946
00:49:09.360 --> 00:49:12.719
especially if you're not looking at this as like trading
947
00:49:12.760 --> 00:49:16.159
opportunities or short term, like if that's your thing, that's
948
00:49:16.199 --> 00:49:19.320
not the not the space, because there's gonna be big
949
00:49:19.400 --> 00:49:22.039
ups and big sounds. But if you are a true
950
00:49:22.079 --> 00:49:25.119
believer in this and you think, hey, five ten years,
951
00:49:25.119 --> 00:49:27.800
this thing's gonna be worse multiples of what it is today,
952
00:49:27.920 --> 00:49:31.800
Like keep those diamond hands. It's hard, it's hard, but
953
00:49:32.960 --> 00:49:34.519
huge opportunities ahead.
954
00:49:34.719 --> 00:49:37.159
Yeah. Like my first go around in twenty seventeen, I
955
00:49:37.199 --> 00:49:39.760
certainly learned a lot of lessons because I was the
956
00:49:39.800 --> 00:49:43.559
emotional rollercoaster panic selling yeah, oh no, I think it's
957
00:49:43.559 --> 00:49:47.199
going back. But then in twenty twenty and twenty twenty one,
958
00:49:47.840 --> 00:49:50.760
I was better equipped, you know, after taking the time
959
00:49:50.800 --> 00:49:53.840
to study, Okay, I'm doing this wrong right, and then
960
00:49:54.000 --> 00:49:56.119
listening to different people who are smarter than me, and
961
00:49:56.159 --> 00:49:59.840
they understood market. And I bought the dips around three
962
00:50:00.320 --> 00:50:02.800
and four K, even though I was scared, but I
963
00:50:02.840 --> 00:50:04.639
was like, look, I'm gonna give this a shot, and
964
00:50:04.800 --> 00:50:07.880
ed worked out really well, and it rinse and repeat.
965
00:50:07.599 --> 00:50:11.880
That's awesome. Yeah. My biggest investing in regret ever is
966
00:50:11.920 --> 00:50:15.199
like twenty eighteen, I sold three bitcoin at like three
967
00:50:15.199 --> 00:50:19.360
thousand each man. But at the time I tried, I
968
00:50:19.480 --> 00:50:21.400
zooming out's good, but I'll zoom in on this one
969
00:50:21.440 --> 00:50:23.000
to make me feel better. But at the time I
970
00:50:23.039 --> 00:50:26.440
was really excited. I'm like, I made like seven thousand dollars. Oh,
971
00:50:26.480 --> 00:50:30.119
and we took a family trip to kan Kun for
972
00:50:30.199 --> 00:50:33.559
like a week and the bigcoin sales paid for the trip.
973
00:50:34.239 --> 00:50:36.800
So I was happy at the time. And now, especially
974
00:50:36.880 --> 00:50:38.880
last summer when bitcoin's like one twenty, I'm like, wow,
975
00:50:38.920 --> 00:50:41.280
our trip to k Kun it is three hundred and
976
00:50:41.320 --> 00:50:45.639
sixty thousand dollars. But it taught me, Yeah, just daily
977
00:50:45.679 --> 00:50:48.400
costs average this thing, like you know, whether it's every
978
00:50:48.480 --> 00:50:51.400
month or a week, and just if you believe in it,
979
00:50:51.559 --> 00:50:55.840
keep riding it. And so people like usually let when
980
00:50:55.880 --> 00:50:59.039
people think about their mistakes, it's hey, I bought this
981
00:50:59.079 --> 00:51:03.079
and it went down. My big regret is I sold
982
00:51:03.119 --> 00:51:05.519
this a lot of it. Even once I sold it
983
00:51:05.559 --> 00:51:07.960
for a six dollars profit. I was on a trip
984
00:51:08.000 --> 00:51:10.960
in Texas waiting in line for barbecue, and this is
985
00:51:11.000 --> 00:51:13.119
when it had gone from like twenty all the way
986
00:51:13.159 --> 00:51:15.840
down to three, but I was still like six dollars up.
987
00:51:16.360 --> 00:51:18.880
I had been up a lot higher and six dollars up,
988
00:51:18.920 --> 00:51:22.480
and so I sold it in and it was kind
989
00:51:22.480 --> 00:51:24.920
of like I exhale like a d risk and now
990
00:51:24.920 --> 00:51:28.400
I'm like, man, six dollars was not worth it. So
991
00:51:28.960 --> 00:51:31.239
but hey, you live and learn. Yeah, but that's for sure, you.
992
00:51:31.280 --> 00:51:34.000
Got to go to go through those learning exercises in
993
00:51:34.079 --> 00:51:36.159
momentary because that's how you become better.
994
00:51:36.840 --> 00:51:37.159
Yeah.
995
00:51:37.760 --> 00:51:40.400
So hopefully our kids are listening and they're going to
996
00:51:40.440 --> 00:51:41.800
listen to this interview.
997
00:51:41.400 --> 00:51:44.880
And that's right. Yeah, that's that is the goal. So
998
00:51:45.480 --> 00:51:48.039
in like they're a little up my accounts, I just
999
00:51:48.119 --> 00:51:52.440
have automatic every month and my plan is when they're
1000
00:51:52.440 --> 00:51:54.880
twenty two and it becomes yours. I'm saying, I'm going
1001
00:51:54.960 --> 00:51:57.320
to keep doing this for the rest of my life
1002
00:51:58.000 --> 00:51:59.880
unless you do something crazy with this, like you take
1003
00:51:59.920 --> 00:52:02.000
it all out and like spend it at once on
1004
00:52:02.039 --> 00:52:04.960
something silly, like use some of this money for whatever.
1005
00:52:05.199 --> 00:52:07.679
But as long as I think you're making a good decision,
1006
00:52:07.719 --> 00:52:10.039
I'm gonna keep every month buy that little bit of
1007
00:52:10.079 --> 00:52:12.559
like bitcoin or Disney stock or whatever may be.
1008
00:52:13.159 --> 00:52:16.320
Yeah, awesome, Okay, Andrew, We've got some wrap up.
1009
00:52:16.320 --> 00:52:17.840
Questions here, all right, bring it out, man.
1010
00:52:17.960 --> 00:52:19.840
First, If you could create your own metaverse, what would
1011
00:52:19.840 --> 00:52:20.320
the theme be?
1012
00:52:21.119 --> 00:52:23.960
Okay, so I'm I'll look. I'm glad the metaverse never
1013
00:52:24.880 --> 00:52:27.920
took hold because people need to like touch grass and
1014
00:52:27.960 --> 00:52:31.639
go on hikes and go on walks. But I would
1015
00:52:31.679 --> 00:52:35.760
say my dream is one day get all my friends
1016
00:52:35.800 --> 00:52:38.960
from different phases of my life together, Like I love
1017
00:52:39.079 --> 00:52:43.039
my childhood and high school and so many friends. And
1018
00:52:43.119 --> 00:52:46.719
of course relationships fade and evolve, and then you go
1019
00:52:46.760 --> 00:52:49.719
to college there's new friends, the young twenties new friends,
1020
00:52:49.800 --> 00:52:52.119
and so how these blessed to have all these pockets
1021
00:52:52.119 --> 00:52:55.599
of friends. So love to have like a metaverse moment
1022
00:52:55.760 --> 00:52:59.119
where like all these people I've cherished over my whole
1023
00:52:59.119 --> 00:53:02.880
life are like together in one spot. The ultimate dream
1024
00:53:02.960 --> 00:53:05.920
is like do it physically, like when I turned fifty
1025
00:53:05.920 --> 00:53:08.440
and maybe bit coins ten million dollars. I could like, Hey,
1026
00:53:08.440 --> 00:53:10.679
everybring everybody, let's go to New York for the weekend.
1027
00:53:10.760 --> 00:53:14.559
But it would be like that, no politics, you can't
1028
00:53:14.559 --> 00:53:18.199
talk politics in this metaverse. But we're just talking about
1029
00:53:18.280 --> 00:53:21.480
like fun memories. And I think there'd be a nineties
1030
00:53:21.519 --> 00:53:22.480
theme in there somewhere.
1031
00:53:22.599 --> 00:53:25.639
Yeah, you know, it's funny you mentioned and I thought
1032
00:53:25.760 --> 00:53:28.440
I was watching the movie The Sandlot the other day.
1033
00:53:28.559 --> 00:53:31.639
It's a classic, right, yeah, but it made me reminiscent
1034
00:53:31.760 --> 00:53:34.199
and being nostalgic for when I was growing up in
1035
00:53:34.280 --> 00:53:36.800
Queens and playing basketball and baseball, Dune the summers and
1036
00:53:36.800 --> 00:53:37.239
my friends.
1037
00:53:37.239 --> 00:53:43.239
Oh my gosh, yeah, Instagram knows like the algorithm for me.
1038
00:53:43.400 --> 00:53:48.800
Are these like sappy nineties videos kids growing up videos
1039
00:53:48.800 --> 00:53:51.800
with the sappy music. Because this is a good era
1040
00:53:52.079 --> 00:53:54.800
and I'm so glad I was born when I did
1041
00:53:54.800 --> 00:53:57.199
where I had a life before the Internet and then
1042
00:53:57.239 --> 00:54:01.760
a life with like kind of not novel new kind
1043
00:54:01.760 --> 00:54:05.880
of internet. It didn't follow me everywhere, and so I
1044
00:54:05.920 --> 00:54:09.960
wish for my kids they had that opportunity. I'm with
1045
00:54:10.000 --> 00:54:12.519
you on that, man, take me back to the nineties.
1046
00:54:12.559 --> 00:54:13.400
I'm good.
1047
00:54:13.880 --> 00:54:17.519
Rapid fire questions. Favorite food going back to the Texas roots.
1048
00:54:17.559 --> 00:54:22.599
Tacos. I love it pretty much every birthday. It's like tacos.
1049
00:54:22.920 --> 00:54:26.159
You've even done a one or two Thanksgiving like taco
1050
00:54:26.280 --> 00:54:29.239
themes dish. The turkey nice. I don't know if anyone
1051
00:54:29.280 --> 00:54:31.920
actually likes turkey. It's overrated. It's like, you know, what
1052
00:54:32.039 --> 00:54:34.760
let's just do like tacos, rice and beans fahitas, so
1053
00:54:35.360 --> 00:54:37.039
over all about tacos.
1054
00:54:37.119 --> 00:54:39.480
Yeah, the turkey's over. I've told my mom, like many
1055
00:54:39.519 --> 00:54:41.559
of you that don't make a turkey, cook anything.
1056
00:54:41.280 --> 00:54:42.440
Else this time, right right?
1057
00:54:42.920 --> 00:54:45.800
Yeah, for sure, favorite musician or band.
1058
00:54:47.159 --> 00:54:50.800
So I've got a large diverse spectrum here, and most
1059
00:54:50.840 --> 00:54:53.199
of them are kind of like shameful. But I love
1060
00:54:53.360 --> 00:54:57.760
like the cheesiest of nineties pop, the Instincts to Brittany
1061
00:54:57.960 --> 00:55:00.840
the Bactually Boys. I wanted to be like Baccy Boy.
1062
00:55:01.320 --> 00:55:04.760
At the same time, I love like nineties especially like
1063
00:55:04.920 --> 00:55:08.960
rap doctor Trey Golden era Tupac. So I had an
1064
00:55:09.079 --> 00:55:10.920
arrow where like I wanted to be a rapper and
1065
00:55:11.039 --> 00:55:13.280
was in a band and all this stuff. So if
1066
00:55:13.320 --> 00:55:18.280
I had to pick one, oh my gosh, I'll get shame.
1067
00:55:18.440 --> 00:55:23.360
But uh I the Backstreet Boys, like just it's like,
1068
00:55:23.440 --> 00:55:25.440
how can you listen to this and be sad? Yeah?
1069
00:55:25.639 --> 00:55:28.960
For sure. Recently I've gone down some country music like
1070
00:55:29.159 --> 00:55:33.679
Vibes that I embraced, but that nineties pop music watching
1071
00:55:33.800 --> 00:55:37.000
TRL like, yeah, it's like peak of society. Man.
1072
00:55:37.840 --> 00:55:40.039
Sure, man, I grew up in the same area, so
1073
00:55:40.559 --> 00:55:41.320
I'm with you there.
1074
00:55:41.480 --> 00:55:46.519
Up. Favorite movie gotta stick to the nineties. Jurassic Park.
1075
00:55:47.000 --> 00:55:50.079
That was like I've watched it. That's fourth grade I think,
1076
00:55:50.239 --> 00:55:52.440
and my dad took me to it thinking it was
1077
00:55:52.440 --> 00:55:55.280
like lame before time, like oh, this is a dinosaur movie,
1078
00:55:55.280 --> 00:55:58.840
and I was like petrified, like loved it. So I
1079
00:55:58.880 --> 00:56:02.519
wore that VHS tape out in the nineties and it's
1080
00:56:02.559 --> 00:56:04.559
been fun as a dad to see, like I think
1081
00:56:04.599 --> 00:56:06.559
two of my kids have seen it and they're like
1082
00:56:06.679 --> 00:56:09.719
into it. So Jurassic Parks the og. But I also
1083
00:56:09.800 --> 00:56:14.159
love Interstellar in the last ten years and watching it
1084
00:56:14.199 --> 00:56:17.159
as a dad now it's like, oh.
1085
00:56:16.880 --> 00:56:19.440
Yeah, it hurts, you know, make that decision.
1086
00:56:19.760 --> 00:56:22.199
Yeah, and then you think of you miss your whole
1087
00:56:22.280 --> 00:56:24.960
kids' lives and you see these little moments like my
1088
00:56:25.119 --> 00:56:26.400
kids are like why are you crying.
1089
00:56:26.559 --> 00:56:30.280
I'm like, it's complicated, but you'll understand in like yes
1090
00:56:30.480 --> 00:56:31.400
when you have your kids.
1091
00:56:31.440 --> 00:56:32.519
So i'd say those two.
1092
00:56:33.599 --> 00:56:35.000
And favorite book.
1093
00:56:36.320 --> 00:56:40.880
All right, I'll nerd out here. So I love Theodore Roosevelt.
1094
00:56:41.079 --> 00:56:45.199
The dude was crazy a baller, accomplished so much in life,
1095
00:56:45.239 --> 00:56:47.639
like he wrote something like twenty books starting when he
1096
00:56:47.719 --> 00:56:50.480
was like twelve or thirteen, writing books on birds and
1097
00:56:50.599 --> 00:56:53.639
nature and navy, and he was in an army. He
1098
00:56:53.760 --> 00:56:56.159
was like a Marshall out West. And so he has
1099
00:56:56.199 --> 00:57:00.199
this amazing, amazing book about his life before where he
1100
00:57:00.280 --> 00:57:04.440
became president, called The Rise of Theodore Roosevelt from like
1101
00:57:04.480 --> 00:57:08.320
the seventies and eighties one to Pulitzer. Loved that thing
1102
00:57:08.599 --> 00:57:12.079
in college, gave it to all my like groomsmen for
1103
00:57:12.280 --> 00:57:16.440
like it's like wedding because it's is a like seven
1104
00:57:16.480 --> 00:57:20.599
or eight hundred page book, but is awesome. And since
1105
00:57:20.679 --> 00:57:25.079
two thousand and three, uh, DiCaprio and Martin Scorsese I
1106
00:57:25.119 --> 00:57:27.719
have been talked about turning it into a movie. And
1107
00:57:27.840 --> 00:57:29.559
I check every couple of years and it's like, oh,
1108
00:57:29.599 --> 00:57:31.880
it's pending, and I'm like, ah, I've been waiting. This is
1109
00:57:31.880 --> 00:57:34.559
two thousand and four for this. So The Rise of
1110
00:57:34.679 --> 00:57:39.320
Theodore Roosevelt sounds nerdy, not cool. But if you got
1111
00:57:39.360 --> 00:57:42.440
the time to spend eight hundred pages of reading, like
1112
00:57:42.679 --> 00:57:43.840
that's it's worth it.
1113
00:57:44.079 --> 00:57:45.400
I will have to check it out.
1114
00:57:45.880 --> 00:57:46.880
I'm going to check it out.
1115
00:57:46.960 --> 00:57:49.119
Yeah, And when you're not working, what are you doing
1116
00:57:49.159 --> 00:57:49.519
for fun?
1117
00:57:50.559 --> 00:57:52.760
All right? So as a parent, there's not a lot
1118
00:57:52.760 --> 00:57:55.199
of fun time anymore. Like, hey, this is me time.
1119
00:57:55.360 --> 00:57:58.239
So when I'm not working, I usually I'm taking my
1120
00:57:58.320 --> 00:58:02.159
kids to some kind of practice. But we love basketball
1121
00:58:02.199 --> 00:58:06.440
in our family, so my therapy is like not wine
1122
00:58:06.880 --> 00:58:09.639
or running, but I love just like shooting hoops. So
1123
00:58:10.000 --> 00:58:12.400
this winter has been kind of tough because there's not
1124
00:58:12.440 --> 00:58:15.360
a lot of hoops being shot, but have the driveway
1125
00:58:15.400 --> 00:58:18.119
hoop day we moved into our new house in New Jersey,
1126
00:58:18.960 --> 00:58:21.239
that very day of the hoop is up, So I love, like, yeah,
1127
00:58:21.400 --> 00:58:23.480
playing basketball is about as much as it gets. But
1128
00:58:23.519 --> 00:58:26.760
if I'm not working or sleeping or doing little gym trips,
1129
00:58:26.840 --> 00:58:31.079
I'm taking my kids to recitals and dance practices and
1130
00:58:31.159 --> 00:58:35.360
Jamascus practices and tonight going to a science fair. So
1131
00:58:35.880 --> 00:58:38.679
always always something on the move with the family.
1132
00:58:38.880 --> 00:58:40.599
Good stuff. Andrew, you and I have a lot in
1133
00:58:40.599 --> 00:58:43.519
comment because I also love basketball, and that's you know.
1134
00:58:44.039 --> 00:58:46.880
I go to the local YMCA and I'm in there
1135
00:58:46.920 --> 00:58:49.440
playing games sometimes that's awesome. And I do have to
1136
00:58:49.480 --> 00:58:51.039
be careful as I'm older now because I want to
1137
00:58:51.119 --> 00:58:52.679
get have an Achilles.
1138
00:58:52.199 --> 00:58:55.079
Hair or something. Yeah, we have a little like Olmen's
1139
00:58:55.159 --> 00:58:59.239
league in my town and I've been and then every
1140
00:58:59.280 --> 00:59:02.639
time the next day I feel so horrible, Like my
1141
00:59:02.679 --> 00:59:05.519
feet hurt, my knees hurt, so I'm always nervous to go.
1142
00:59:05.679 --> 00:59:09.400
But it's it's fun. Everyone like talked about like tennis
1143
00:59:09.440 --> 00:59:12.480
and golf as this lifetime support, but I'm like too boring.
1144
00:59:12.920 --> 00:59:14.840
But the fact I can have like a little ball
1145
00:59:14.920 --> 00:59:17.079
and a hoop and just like be out there for hours,
1146
00:59:17.360 --> 00:59:20.320
it's kind of like just the mind kind of empties out.
1147
00:59:20.400 --> 00:59:24.360
So same. Definitely love it for sure, Andrew Pleasure chatting.
1148
00:59:24.519 --> 00:59:26.480
I'm so happy we got to do this and I'm
1149
00:59:26.480 --> 00:59:28.519
looking forward to the future updates around ey Toro and
1150
00:59:28.800 --> 00:59:30.760
we'll have to have you back on as those things launched.
1151
00:59:30.760 --> 00:59:32.079
But thank you so much for taking the time.
1152
00:59:32.159 --> 00:59:34.119
Yeah, my pleasure. Wonderful chat with you, Tony.
1153
00:59:34.599 --> 00:59:37.119
Thank you so much for tuning in. Please hit the
1154
00:59:37.239 --> 00:59:39.639
like button subscribe if you haven't as yet. If you're
1155
00:59:39.639 --> 00:59:42.679
listening on a podcast platform such as Spotify or Apple,
1156
00:59:42.880 --> 00:59:45.639
please follow and leave a five star rating. Thank you
1157
00:59:45.679 --> 00:59:46.079
so much.