WEBVTT
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It's going to be a great day today.
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It's gonna be a great day today.
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I have a lot to talk about regarding the coins.
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I have some weekend updates.
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I have uh here's the plan for today.
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We're gonna do an AI gaming segment, which I'm really hyped about.
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Hood Warfare, Hood Warfare 2 just dropped, Pokemon minigames just dropped, stuff for days to talk about.
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We're gonna quickly cover Ledger, which I wasn't planning on doing, but it's just a ridiculous story of what's going on with cold storage and coins.
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And you should be, I don't know, you should be like conscious of this for sure.
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We're gonna do an AI loser segment before market open, and then afterwards I market open, I have a ton to talk about today.
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So it's uh look it was a pretty wild weekend.
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It's crazy how long three days away from the market feels.
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Like I feel like I've been zen.
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It's it's nuts.
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I took three days off, and I really did take three days off.
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Like I told myself I was not gonna trade any coins until Monday after I torched some money on the Zcash thing.
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I was just it's emotional, I was feeling the heat a little bit, I was feeling some weight, and I was like, let me just like take a step back and and you know, just do nothing.
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And that's what I did.
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And my I was thinking I was gonna come back to the board.
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I keep saying board and buy coins.
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And the first thing I did when I came back was short pump font, closed it, plus 13 banned straight to the head, and we had just like death of coins yesterday.
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I think we look fine right now, but yeah, I don't know.
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I have a lot to say.
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I feel like I took a I I don't know, I feel like I learned a lot in three days off the market.
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It feels like a long, it feels like an eternity three-day weekend to not stream.
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Okay, the biggest thing that has been on my docket over the weekend after three days off, I really was not paying attention to the market.
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Like the only thing I would do would be like, damn, Zcash, I would just like hit some ad libs, like damn, Zcash looks terrible.
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Or like, damn, coins look pretty bad.
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I would hit some ad lib ad libs every once in a while, but I genuinely was like my screen time on trading view was it was super low, extremely low.
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I was not looking on chain, it was extremely low.
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And the thing that was on my feed the most of Twitter, the thing that I paid the most attention to by far is AI gaming.
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Okay.
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I said this once and I'll say it again.
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Is we are very obviously right now about to enter a gaming resurgence or renaissance, if you will, with AI.
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Okay.
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Anyone can code anything.
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The timing to take idea to iteration to live is basically zero.
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And I think there's this unforeseen consequence that AI brings to the world, which is gaming is going to be fun again, and gamers are going to actually embrace it.
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Historically, gamers hate AI, they hate AI.
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DNApp told me this.
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I wasn't really aware that gamers are the originators of the term AI slop.
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They hate AI, and I think it's going to change because the only thing they hate more than AI is AAA gaming studios, which fucking suck.
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My timeline this weekend was dominated by Hood Warfare 2, which I'm unsure I've seen both ways, but they're calling it a vibe coded game.
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They've downgraded vibe coded game into AI developed game, I think is where we've landed an AI developed game.
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But this has taken over my feed.
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It's done like, I don't know, 50 million impressions on Twitter, and I've seen Hood Warfare 2 everywhere on my TL this weekend.
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This is it.
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Hold it down, Twin.
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Here I don't feel super comfortable playing the whole thing on Twitch, but it was built in Unreal.
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I saw with AI, and it went viral.
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Like viral, viral.
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It went viral after it went viral on Steam after Twitter.
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And it peaked yesterday at 11,730 concurrent players.
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Um, which is no joke.
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It's a five dollar game.
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It's made a lot of money and it peaked at 11.
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It peaked at 11,000 concurrent.
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Where does that like rank?
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Like Diablo's got like Call of Duty, Call of Duty's got 36k.
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Diablo's got like 22k.
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Like, bro, it went it went pretty, pretty, pretty viral.
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And so I think the coolest part about this game performing the way that it has is one, how cheap it was to make, how cheap the game costs, and the embracing that the gaming community gave around the word AI.
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We've never really seen this.
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No, seriously, normies hate AI.
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Gamers really hate AI.
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So this goes really viral.
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And the second thing that I saw that my timeline was dominated by this weekend was this.
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Okay.
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This guy, Old Town JB, posted this.
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Me and the boys came up with the all 22 of Pokemon from the original 150 No Legendaries.
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NFL lineup.
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I think we nailed it.
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And this post was the story of Friday, I think, or Thursday, whatever it was, October 8th.
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There's 9.3 million views, and everybody made their own version of this.
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Start, you're starting NFL lineup.
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By the way, lineup is mid.
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I've never once thought about Gengar as a quarterback, but that's kind of besides the point.
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This post was the post, the canonical post.
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Everybody was running this, everybody was posting their own lineup.
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And basically within the same weekend, again, idea to playable is like instant.
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Cole Theorem, believe it or not, the original creator of Pudgy Penguins, built the all 22 bowl.
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And you basically can make your lineup and you can play in a mini football game with your fucking Pokemon, bro.
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Watch this shit.
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Is this not sick?
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Like, yeah, the gameplay looks terrible, but that's kind of besides the point.
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Okay?
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This would have taken forever to code by hand.
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You would have never gotten this done.
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This would have it would have never happened.
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He posted this October 11th.
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Three days later, from this tweet going viral to this game being playable, it has 300,000 views, and I saw hundreds of posts of people talking about the football version of this.
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So yes, obviously it is slop.
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Yes, obviously it is not good.
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But the fact that you basically took a screenshot, turned it into a playable game, were something that would have taken full, by the way, Nintendo is gonna start World War III with their legal team over this.
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But the fact that you could do this in three days, full AI.
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I mean, he did not code this.
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This is just like straight vibe-coded, clawed, whatever, is nuts to me.
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And so I was thinking about it, and as it relates to AAA game studios, I think it's pretty clear that gone are the days of 10 years in between AAA game launches, five years in between triple A game launches.
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Rockstar came out and they confirmed that GTA 6 doesn't use any generative AI.
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It said they've made 600,000 animations by hand and used human artists for every asset in game, which is great.
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That's awesome, but bro, it took 10 years.
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Okay.
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I would argue we're basically already at the point where you do not care if it was AI or not.
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You just care if it was good and if it's fun.
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Like, do you think gamers would have been mad if GTA 6 came out five years ago if they used some AI?
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Absolutely not.
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And so the follow-up to that is this which is Epic Games has internally delayed the release of a shooter game they've been developing featuring Star Wars and Marvel characters.
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Developers in the game have now been told to only use AI to write code, no more handwritten code.
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All art for the game would be generated with full AI workflows, and so it's basically happening right now, and you will never wait 10 years for a triple A game release again.
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Like that's it.
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And this is as a result, I still think GTA 6 is gonna flop.
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I do.
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I think GTA 6 is gonna flop because the bike guys just it's just moved on, like it will be the game of the decade, but I don't think it's gonna be this intergalactic domination for 10 plus years, the way that GTA 5 is gonna be, or the way that GTA 5 was.
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And so the real edge here that makes it exciting with what's happening is the ability to go from idea to iteration in rapid acceleration, and then the ability to decompile games and make them combine them, make them accessible for everyone.
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And it is hard to not be excited about what is happening right now in the gaming sphere.
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Okay, second topic that is important to cover before we do anything because it's fucking scary.
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On our Friday stream, there was a ledger exploit that happened live while I was covering and doing a reha rehashing of 1010, where 86 million dollars was exploited from ledger.
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And we've basically entered the point right now where I cannot come on the stream with a straight face and tell you that you should be storing your crypto in cold storage for any reason ever.
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The only thing I can recommend that you do is put it on Coinbase and just pray because what happened is nuts.
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Basically, the story where 86 million dollars was exploited from Ledger is there's this third-party reseller called Crypto Billis.
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Okay, it's a Southeast Asian Web3 and online crypto commerce store.
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They sell hard wallets and self-custody tools.
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First of all, you should never buy a hardware wallet from a third-party reseller, is nuts.
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I mean, that is just straight up nuts in the first place.
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Like, it's almost like if you are willing to do that, you don't even have enough money in coins.
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Like, if you think that that's okay, you don't even have enough money in coins where you would need a hardware wallet where it would really theoretically make sense.
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And so how they got 86 million dollars is just beyond me, but that's not the point, okay?
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Because there's this third party reseller that sells these ledgers, okay?
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They were acquired by a new management company that put them under a legally bound contract that did not allow them to publicize or announce that they were purchased until October 19th.
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Okay.
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Third party ledger reseller, they get acquired, they sell, they get bought by a company that says you are not allowed to make a post that you got purchased until X date, which happens to be October 19th.
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Okay.
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What this company does, run by this fellow, Nicholas Chang, is they proceed to basically lace all of these ledgers with some tracker system of some sort where they can see your seed phrase.
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I don't know exactly how it works, but they insert some device, some chip into your these ledgers that are being sold to scalp your seed phrase.
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So they have access to everything you have access to.
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They waited for$86 million to get built up in cold store in storage, sitting on these ledgers, and then they wiped all of them at the same time.
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To make matters worse, the same thing has probably happened with these European retailers as well.
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Okay.
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Basically, if you have ever bought a third-party ledger, you are at like major risk.
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Reads the text on the screen and then sends it with SIM card.
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Got it.
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Makes sense.
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And so I think the thing that's wild about what just happened with Ledger is I never really thought about this.
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Is like there's an obvious vulnerability in the system here, which is that the supply chain is a huge risk.
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It's a supply chain, there's like a factory that manufactures ledger, which is a product whose entire purpose is to store cryptocurrency and theoretically storage particularly large amounts of cryptocurrency because people feel like they're safe and it's on a ledger, and they're it's like they're it's like their storage, it's like a it's like their savings account versus a checking account.
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The obvious vulnerability here is a supply chain, right?
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Where I mean there's like humans interacting with these things, can pop a chip or put a little skimmer on it.
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I don't know exactly how this stuff works, and your ledger is now vulnerable.
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And so if you really sit down and think about this logically and look at the incentives with how much money's online on the line, it was all this was bound to happen at some point, but I had never really considered it a possibility.
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And a video came out of how to check if your ledger device has been hacked by opening up to search for modifications, and it's just it's just ridiculous, really.
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I mean, this is straight up, this is ridiculous to expect people to do this.
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It's not.
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And so you think to yourself, okay, how stupid could you be to buy it from a third-party reseller?
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But what about buying it from Ledger?
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They have some factory somewhere where these things are getting manufactured by who?
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By someone that makes$20 an hour is manufacturing ledgers.
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Am I wrong about that?
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Like the CEO of Ledger isn't hand manufacturing every ledger, right?
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So you think to yourself, how do you trust any ledger?
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Even if you buy it from them.
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And then, yeah, then guess what?
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Then you buy it from Ledger, you have a real one that is unhackable or unexploitable, and then they have a data breach, and your home address with your ledger, you know, with your ledger, if you keep it there, wherever it is, your home address is now like leaked to the entire internet as someone that's purchased a ledger.
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And so they posted an update about this, but man, it it's it's a pretty just brutal thought that this happened the way that it did, because the cold storage thing, the maybe the hard I would say the hard not cold storage, but the hardware wallet concept is sort of getting broken quite a few ways.
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Like there was the there's like the AI cracking fear that happened, was it cold card?
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It was called a month ago.
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We covered this on stream a month ago, that these like really early Bitcoin wallets are not super sophisticated with how they generate seed phrases, it could be cracked relatively not relatively easy, but they were were crackable with AI, and then now you have these ledger exploits.
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And I just feel for regular people that are trying to do crypto the right way.
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Like imagine you did everything right, and you bought Bitcoin really early, and you never touched it, and it you had perfect security in OPSEC, and you did it the right way, and then you got AI cracked your your seed phrase.
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It's like, bro, what the fuck?
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And so I think that maybe they just call me call me anti-patriotic, but the era of putting your coins back on Coinbase or really trusted tier one sex and praying seems to be back.
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The era of like holding your Bitcoin via ETF feels like it's hard to argue with for most people.
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For most people, not for everyone, for most people, for most normal people that are not super in the weeds.
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Um, all right, let's talk about what's going on in crypto right now.
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I want to rehash where we are, what's happened, and how I left the weekend feeling.
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I think if you're just catching up or like meditate here, and we should do some rehashing on the SAS death because I think it's relevant.
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Is in my opinion, and stealing the basic scenes tweet, it feels crypto has been labeled an AI loser after the fears from the Justin Drake post.
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Okay, he comes out, he makes his post a couple days Wednesday, Thursday.
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He calls upon the blockchain industry to calmly begin planning for what he is calling bunker mode.
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Basically, rapid acceleration in AI math has led to fears that were previously thought to take multiple years, three, four, five years of AI's ability to crack cryptography could potentially happen over the next couple months.
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There was sort of this mass panic amongst market participants, devs, founders, everything in between.
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There was some flush outs on alts.
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Bitcoin dumped a little bit, couple percent, and we basically come back on Monday, and we're basically where we left.
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Things are like 5% lower, nothing crazy, but it feels like we have this overhang right now.
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And the thing that I think about and call back to, which is worth covering, is the SaaS pocalypse, okay, which we spent a bunch of time covering on stream.
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And the belief was basically that AI, clawed code, these coding agents have gotten good enough where software as a service is no longer important.
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Everyone is just going to vibe code everything.
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I'm gonna make you're not gonna need any CRM, you'll just vibe code your own.
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You're not gonna need, I don't know, Duolingo, you'll just vibe code your own.
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And the narrative was software is now obsolete because everyone has their personal coding agents and they're gonna make their own personal software.
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Now, was this true?
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Absolutely not.
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Like it actually could not have been farther from true, at least so far, that this was gonna happen.
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But did that matter?
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Not really, because if you look at what happened to these charts, we had IGV, which is the software ETF, basically go down about 40% in a straight line over six, seven, eight months.
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Okay.
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And there was a couple catalysts, and similar to what just happened with crypto, they were all blog posts.
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Okay, number one is there was this clawed blog post that came out um, I believe in January, February of 2026, which is customize co-work with plugins.
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January 30th.
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Customize co-work with plugins.
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If you look at it on the chart, it's like right here, like right about here when things started to get pretty ugly.
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And people realized, oh fuck, you know, Wall Street collectively realized, oh fuck, they can do what we do, right?
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They can be, you know, normal people are gonna be able AI plus normal people are gonna be able to build the things that we build, they're gonna be able to do the things that we do, they're gonna be able to be our a CRM or whatever it is.
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The second thing in the real doom and gloom was the two thousand uh 2028 global intelligence crisis from Citrini, where he laid out this sort of doom thesis for software for AI for things like Visa and MasterCard.
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DoorDash was the one explicitly mentioned.
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The next morning there was like$500 billion wiped out from the stock market.
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This happened to come near the pico bottom.
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Um, in February of IGV, there was one leg lower, but it was near pico bottom.
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And I think the third okay, so so look at this real quick.
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It was near pico bottom.
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So this is how bad it got.
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Um, service like basically everything was down 30, 40, 50 percent.
00:19:01.680 --> 00:19:11.920
Service now 30, Salesforce down 30, Intuit went down 50, Duolingo down 40, Cheg down 40, Adobe down 40, Unity, which is one of my favorites right now, is down 56.
00:19:12.000 --> 00:19:23.920
Like it was basically a 50% wipeout across the board from some blog posts that said software was going to be killed by AI.
00:19:24.079 --> 00:19:30.880
Now, here's the thing, and this is what I think is relevant to crypto is you can only get so far with blog posts, right?
00:19:31.039 --> 00:19:35.440
All these smart guys come out, they write some long posts, they get on Substack, they write the Twitter threads.
00:19:35.519 --> 00:19:40.079
The market panics because the market is emotional and it whipsaws back and forth and it goes down.
00:19:40.160 --> 00:19:46.480
But after a long enough time frame, the blog posts have to deliver on what they are threatening or what they promise.
00:19:46.880 --> 00:19:52.720
And I think two things happened that allowed software and the IGV to completely reverse and go back up.
00:19:53.119 --> 00:19:57.440
Number one was earnings for these SaaS companies just stayed really strong.
00:19:57.599 --> 00:20:12.640
It's like everyone's been dooming and glooming for months that software is dead, but Salesforce and all of these companies, service now and Snowflake, all these companies continue to post growth and continue to post sick earnings reports.
00:20:12.720 --> 00:20:14.880
What you're saying is happening is not happening.
00:20:14.960 --> 00:20:16.160
So who's lying?
00:20:16.400 --> 00:20:18.400
Men lie, women lie, numbers don't.
00:20:18.640 --> 00:20:20.480
And so that was the first thing.
00:20:20.640 --> 00:20:28.319
And I think the second thing that really got people was if you think back to peak IGV fear, what was the consumer narrative?
00:20:28.480 --> 00:20:32.960
To me, it was this it was clawed bot open claw.
00:20:33.119 --> 00:20:39.119
Okay, I look I went to Alex Finn's Twitter and I went to most power or his YouTube and I went to the most popular videos.
00:20:39.279 --> 00:20:46.079
And Open Claw, the most powerful AI tool I've ever used in my life, and the only open claw tutorial you will ever need.
00:20:46.319 --> 00:20:49.519
1.1 million views and 460k views.
00:20:49.680 --> 00:20:58.559
Okay, if you remember, at the bottom of sentiment and chart for software IGV, everyone and their mom was rushing to the Apple store.
00:20:58.880 --> 00:21:05.359
Mac minis were sold out, and everybody was running a harness with you know nine personal agents that can build anything.
00:21:05.599 --> 00:21:06.799
Everyone was doing this.
00:21:06.960 --> 00:21:07.759
I was doing it.
00:21:07.839 --> 00:21:10.240
We had a guy come on and teach you how to set up open claw.
00:21:10.400 --> 00:21:19.279
Everybody was running open claw agents with the belief that they could now, you know, they could vibe code anything, build any dashboard, build whatever.
00:21:19.680 --> 00:21:27.359
And in my opinion, and what happened is time went on, everybody got one, and nobody built anything.
00:21:27.599 --> 00:21:28.960
Really, nobody built anything.
00:21:29.119 --> 00:21:31.359
Like there's things were built, don't get me wrong.
00:21:31.519 --> 00:21:35.920
Things were built, and code was written, and some great tools came out of it.
00:21:36.160 --> 00:21:47.200
Acceleration and you know, AI acceptance accelerated, but nobody really built nobody really built anything from the perspective of X SaaS company is now dead.
00:21:47.440 --> 00:21:53.599
Okay, like nobody built Salesforce, nobody built Palantir, nobody built ServiceNow.
00:21:53.759 --> 00:21:59.759
And I think people collectively realize yes, you can write a lot of code, but you can't really code like Palantir's.
00:22:00.240 --> 00:22:00.640
Mote.
00:22:00.799 --> 00:22:10.079
You can't code Salesforce's, you know, institutional contracts and the way that it's infiltrated into every stack of all of these companies that it that it uses.
00:22:10.559 --> 00:22:18.319
And I think the fear was basically just disproven from a time perspective of okay, blog posts got us down 40%.
00:22:18.799 --> 00:22:24.160
The only thing that's going to make us any lower is all of these companies becoming worthless, missing earnings reports, whatever it is.
00:22:24.240 --> 00:22:25.599
That's clearly not happening.
00:22:25.759 --> 00:22:27.599
Maybe we should fucking buy them again.
00:22:27.920 --> 00:22:36.640
And from bottom in uh April, IGV is back up 50% and almost at all-time high.
00:22:36.799 --> 00:22:40.880
And you don't hear people talk about the SAS pocalypse much anymore.
00:22:41.039 --> 00:22:42.240
You just don't hear about it anymore.
00:22:42.400 --> 00:22:47.039
And so then you insert crypto, which seems to be in again.
00:22:47.119 --> 00:22:53.920
I think I maybe maybe mid-curve trying too hard to justify every price swing and what was the exact reason.
00:22:54.160 --> 00:22:57.279
But it's hard to ignore that we brought this hair.
00:22:57.599 --> 00:23:05.440
It's hard to ignore that we haven't found ourselves stuck in a similar AI loser type of overhang, at least at the moment.
00:23:05.519 --> 00:23:07.279
How long does it play for?
00:23:07.359 --> 00:23:08.319
It's unclear.
00:23:08.559 --> 00:23:19.359
But what you do know that's gonna happen is every time OpenAI comes out and publishes some new blog post about how they have made an advancement in math, people are gonna think, oh my god, the cryptography, what's gonna happen?
00:23:19.519 --> 00:23:22.559
But I think there's an interesting forward-looking narrative here.
00:23:22.799 --> 00:23:41.920
Frank talked about it, and Doug Colquit on stream talked about it, which is that it gives crypto this sort of uniting mission, industry-wide uniting mission, once again, that we are going to work to be on the front lines of the basically the future of cryptography, once again.
00:23:42.079 --> 00:23:44.000
The entire world desperately needs this.
00:23:44.160 --> 00:23:56.400
We have massive multi-trillion dollar financial incentive to solve this and to protect our coins, and we are going to become the forefront of cryptography once again.
00:23:56.640 --> 00:24:16.000
And I think the thing that separates the crypto AI loser narrative from the SaaS AI loser narrative with cryptography is there is tangible goalposts that crypto can hit to reach and be like, we are now X resistant, we're now quantum resistant, we're now AI, like whatever it is.
00:24:16.079 --> 00:24:19.839
There's goalposts that can be hit to say like these things are safe.
00:24:20.000 --> 00:24:29.440
Okay, and you get this sort of North Star of perfect DeFi, perfect smart contract, immutable, uncrackable crypto.
00:24:29.680 --> 00:24:33.519
It's almost this wall of worry future you can look forward to.
00:24:33.599 --> 00:24:35.599
That to me, that fires me up.
00:24:35.759 --> 00:24:43.920
Okay, it brings me back to this clip of Doug from a couple days ago when he was on stream, and he basically references perfect smart contracts.
00:24:44.160 --> 00:24:50.960
But like the the whole idea is like formal verify, and they're like doing this with Zcash now, um, with like the shield up the new shield of pools.
00:24:51.119 --> 00:24:53.440
Um, that's just like huge from a security standpoint.
00:24:53.519 --> 00:24:58.000
And like, so far in trip you're right, the security risk isn't like cryptography breaking, it's like these smart contract packs.
00:24:58.160 --> 00:25:05.920
Um, so I like I'm I'm super excited about like AI can do like formal verification, and like writing formal verification before is just like so tedious and so long, like humans couldn't do it.
00:25:06.000 --> 00:25:13.039
Um, like we're already like doing stuff now where like I should put like a little AMM contract out on EVM, which is like purely in lean.
00:25:13.119 --> 00:25:15.119
Um, so formally verified, like all of that stuff.
00:25:15.200 --> 00:25:17.119
So I I think it's like security perspective.
00:25:17.200 --> 00:25:20.480
I think it is possible we get like quote unquote perfect security because of AI.
00:25:20.640 --> 00:25:23.519
Wow, perfect security because of AI built by crypto.
00:25:23.680 --> 00:25:25.119
It's sort of a wild thought.
00:25:25.359 --> 00:25:40.640
And so what I think happens here, if I had to be a betting predicting man, which I am, is that there will be some doom and gloom about, you know, AI is gonna crack cryptography and it will force some coins to be volatile.
00:25:40.799 --> 00:25:47.119
We're gonna have to cover every time OpenAI comes out with a new blog post about math advancements.
00:25:47.359 --> 00:25:48.720
People are gonna panic a little bit.
00:25:48.960 --> 00:26:00.960
But if it doesn't happen and there aren't these massive exploits, these massive tech breakdowns over the next couple months, which is what Justin Drake predicted, which they're you know, 99% won't be.
00:26:01.200 --> 00:26:08.240
People are gonna start to shift, and we're gonna shift to blog posts aren't enough, just like they weren't enough for SAS.
00:26:08.640 --> 00:26:10.480
We're gonna need to actually see it.
00:26:10.640 --> 00:26:23.920
And you all of a sudden get this golden wall of worry narrative to climb higher, that a coin could become you know AI resistant, it could become perfect cryptography, it could it could become perfect DeFi.
00:26:24.000 --> 00:26:33.519
And the first coin to get labeled, you know, AI resistant, perfect cryptography, the ceiling on that is in it's infinite.
00:26:34.000 --> 00:26:41.759
It's infinite, and unlike SAS, I believe that there is a goalpost that can like a tangible goalpost you can hit.
00:26:42.240 --> 00:26:47.680
And on the other side of that, it's I mean, one of the most valuable code bases in the world in the world.
00:26:47.920 --> 00:26:50.720
And so what we're gonna do tomorrow is I have a panel.
00:26:50.960 --> 00:27:00.319
The founder of Nier, Mert, and ZK Dragon, who allegedly is like the smartest cryptographer in in the world, they're all gonna come on stream tomorrow.
00:27:00.400 --> 00:27:16.240
We're gonna do a panel also with Tulip King, and we are basically gonna talk about what these goalposts are, how we're gonna know when we hit them, and what you know, perfect cryptography looks like, or AI resistant cryptography.
00:27:16.319 --> 00:27:18.079
What does that actually look like?
00:27:18.480 --> 00:27:25.039
Because I do believe this is in my novice understanding of how this works, that this is possible.
00:27:25.279 --> 00:27:32.160
And it's to me, it's the ultimate wall of worry to climb where you could get some of these.
00:27:32.240 --> 00:27:36.720
I mean, you could put a price target on that as like whatever you want.
00:27:36.880 --> 00:27:42.480
You know, it's like the perfect cryptography against the you know cryptographic killing machine.
00:27:42.640 --> 00:27:43.359
Who wins?
00:27:43.599 --> 00:27:44.640
Let's find out.
00:27:44.960 --> 00:28:01.680
But I wanted to just bring it back whenever we see a scary blog post to what happened with SAS and how it played out, where blog posts can do a lot of damage to the to this like schizo market, but they aren't everything because eventually you just dis you need results.
00:28:01.839 --> 00:28:06.480
There's too much money on the line to have no results, and so that's my thought process.
00:28:06.640 --> 00:28:12.720
That's what I think about how this probably plays out with crypto, and that's what I think.
00:28:12.960 --> 00:28:14.319
Yesterday was a scary one.
00:28:14.400 --> 00:28:14.799
I know.
00:28:15.119 --> 00:28:18.799
Korea session was terrifying, and the stock market opens in 15 seconds.
00:28:18.880 --> 00:28:21.759
As always, it is powered by Phantom Wallet.
00:28:21.920 --> 00:28:25.599
It's powered by Phantom because anything you see in this segment, anything you want to buy, sell, trade.
00:28:25.680 --> 00:28:28.960
If you could trade it, you can trade it on Phantom Wallet.
00:28:29.039 --> 00:28:31.039
It's gonna be a big one, it's gonna be a great one.
00:28:31.200 --> 00:28:37.039
We have a lot to cover and let's let's go! Let's go, let's go.
00:28:37.200 --> 00:28:42.480
It's oh bam! The SPX opens down 0.06.
00:28:42.799 --> 00:28:43.839
Um, all right, what do we got?
00:28:44.079 --> 00:28:45.279
SPX down 0.06.
00:28:45.359 --> 00:28:48.000
Uh, looks like a giga, giga, giga, giga fade for me.
00:28:48.079 --> 00:28:51.039
The Nasdaq 100 is up 0.75.
00:28:51.680 --> 00:28:58.000
Um, the Dow is up 0.7, photonics, ETF is down 2.5, NeoClouds are down 5.5.
00:28:58.160 --> 00:29:00.400
Mags are up 0.2.
00:29:00.960 --> 00:29:03.440
Dram is down six, soxel is down 10.
00:29:03.519 --> 00:29:04.559
Holy fuck.
00:29:04.799 --> 00:29:05.200
Dog.
00:29:05.680 --> 00:29:06.880
Geez, man.
00:29:07.119 --> 00:29:07.759
Look at this.
00:29:07.839 --> 00:29:09.119
Look at look at DRAM.
00:29:09.440 --> 00:29:10.079
Ugh.
00:29:10.240 --> 00:29:14.400
Um, Bitcoin is green on the open 83.3.
00:29:15.119 --> 00:29:18.400
All things considered, man, it is not that bad.
00:29:18.640 --> 00:29:25.279
Bitcoin 833, Zec 1200, ETH 2500, hype 81, lighter.
00:29:25.519 --> 00:29:27.279
Man, I should have held that lighter short, huh?
00:29:27.440 --> 00:29:30.720
Jeez, lighter 3.3 is nuts.
00:29:30.960 --> 00:29:32.880
Near five, pump five.
00:29:32.960 --> 00:29:35.039
I closed my pump short the other day, plus 14k.
00:29:35.119 --> 00:29:35.759
That was a fun one.
00:29:36.000 --> 00:29:42.240
Purr is down two, souls up one, 30 years down one, 10 years down 0.75, 2 years flat.
00:29:42.400 --> 00:29:50.000
Vixes up one, gold is up 0.35, XRP is up two, Monero's up one, and copper is down 0.25.
00:29:50.400 --> 00:29:52.240
Brent's down one, crude's down one.
00:29:52.799 --> 00:29:54.160
God, is this gonna be bad?
00:29:54.319 --> 00:29:55.359
Yeah, it is.
00:29:56.079 --> 00:29:57.599
All right, biggest losers.
00:29:57.759 --> 00:30:01.519
SK Heinex was down 10% yesterday.
00:30:01.680 --> 00:30:03.279
Flood is gigabarish, brother.
00:30:03.519 --> 00:30:08.480
ASTS is down seven, Marvell's down five and a half, Micron is down five and a half.
00:30:08.559 --> 00:30:12.559
Okay, Heinex ADR after being down ten yesterday is down five and a half.
00:30:12.799 --> 00:30:32.319
Bloom five, arm four, del three, Santa's down four and a half, AMD's down three and a half, Lumentum's down three, rock left's at three and a half, firefly three and a half, Nokia three, Intel two and a half, SpaceX is down two and a half, Shaw's down three and a half, red wire is down three, Tesla's down one point five, Nvidia's down one, Cerebrus is down one.
00:30:32.720 --> 00:30:33.759
God, this is gnarly.
00:30:33.839 --> 00:30:47.680
Broadcom 1.5, Snowflake down one, Blackberry down 1.5, uh, meta is flat, Amazon's down are up 0.3, Oracle's down 0.5, Google's up 0.5, IBM is green, Microsoft's up one, Apple's up two.
00:30:48.079 --> 00:30:49.759
Not on that announcement, is it?
00:30:50.000 --> 00:30:50.319
Really?
00:30:50.480 --> 00:30:52.160
On the Apple home thing?
00:30:52.480 --> 00:30:53.920
No, surely not.
00:30:54.079 --> 00:30:57.200
Bitcoin 83, back 1190.
00:30:57.359 --> 00:31:03.759
If you're curious where I capitulated, I capitulated my leverage at 1150 and my spot at 1125.
00:31:04.160 --> 00:31:08.079
Um, obviously lower than this, but not that much lower.
00:31:08.480 --> 00:31:12.079
And pump falls back under 0.005.
00:31:13.119 --> 00:31:18.000
All right, consumer side AMC biggest gainer up 4.5.
00:31:18.480 --> 00:31:24.319
Fisa's up three, service now is up two, Lulu's up two, Figma's up two, Nike is up 1.5.
00:31:24.559 --> 00:31:24.799
Wow.
00:31:25.039 --> 00:31:26.880
Airbnb one, Disney one, sweet green.
00:31:27.039 --> 00:31:27.920
What happened to the Disney guy?
00:31:28.079 --> 00:31:29.119
Used to be here all the time.
00:31:29.359 --> 00:31:31.119
Let's see, biggest losers.
00:31:31.759 --> 00:31:35.519
Nebus is down five and a half, him's down five and a half.
00:31:35.599 --> 00:31:40.319
Iran is down five and a half, Cory down four, Shopify down two, Roblox down one.
00:31:40.400 --> 00:31:41.039
Where's Unity?
00:31:41.119 --> 00:31:41.839
Circle's down two.
00:31:42.000 --> 00:31:42.640
Where's Unity?
00:31:42.880 --> 00:31:50.799
Green, I lost 0.3% on the daily for unity.
00:31:50.880 --> 00:31:52.720
I fucking love this coin, dude.
00:31:52.960 --> 00:31:53.440
The stock.
00:31:54.000 --> 00:31:54.640
I love it.
00:31:54.799 --> 00:31:55.200
I love it.
00:31:55.279 --> 00:31:56.319
Look at it, look at it, dude.
00:31:56.400 --> 00:31:57.039
Look at that chart.
00:31:57.680 --> 00:32:00.319
Um, eBay is up 0.4.
00:32:00.880 --> 00:32:12.960
I heard a pretty good eBay thesis today, or yes, two couple two days ago, which was long eBay into earnings because Pokemon card sales growth is not priced in because it all happens on eBay.
00:32:13.039 --> 00:32:14.160
And I thought, man, you know what?
00:32:14.240 --> 00:32:15.599
That's not a bad thesis.
00:32:16.240 --> 00:32:19.759
The problem is this company is just bloated disaster.
00:32:19.920 --> 00:32:22.400
I've heard Ryan Cohen talk so much shit about eBay.
00:32:22.559 --> 00:32:28.720
It makes me feel like it's hard to buy, but that's not a bad thesis at all that that is not priced in.
00:32:28.960 --> 00:32:34.160
It kind of reminds me of Robin Hood chain pumping Robin Hood or something like this.
00:32:34.640 --> 00:32:34.960
Yeah, right.
00:32:35.440 --> 00:32:37.759
Especially at this at this level that it's at right now.
00:32:37.839 --> 00:32:41.839
It reminds me of Robinhood Chain pumping Robin Hood stock 20 or whatever in a day.
00:32:42.079 --> 00:32:43.119
Very interesting thesis.
00:32:43.279 --> 00:32:45.759
So eBay's up one today, stub hub is up one.
00:32:46.319 --> 00:32:52.160
Um IGV is up one, and then nothing else we really care about here.
00:32:52.319 --> 00:32:53.359
Bitcoin 835.
00:32:53.680 --> 00:32:54.799
Not fucking bad.
00:32:54.960 --> 00:32:55.359
Not bad.
00:32:55.519 --> 00:32:56.400
Zach 1200.
00:32:56.640 --> 00:32:57.920
All right, altcoins.
00:32:58.480 --> 00:33:28.240
Pepe leads up seven, Gito's up seven, uni's up six, um, serup is up five, arb's up four, Zek is up four, bear is up three, Penguins up three, air jum up three, Tao is up two, one point five, Avax up two, Monad's up one, biggest losers, kinetics down ten, grass down seven, layer's here down two, galaxy on two and a half, Venice basically flat down 0.25, lighter basically flat.
00:33:28.400 --> 00:33:29.839
I'll tell you what though, man.
00:33:29.920 --> 00:33:41.119
If this thing got back above like 86, 87 with the ultimate doom, gloom narrative in the charts, all of a sudden you would start to feel like holy fuck.
00:33:41.440 --> 00:33:43.759
Really, like holy fuck, man.
00:33:44.000 --> 00:33:45.839
Maybe we are just the chosen ones.
00:33:46.000 --> 00:33:53.599
I also think crypto Twitter right now is so ridiculously useless, it's not even funny.
00:33:53.839 --> 00:34:02.240
It's kind of it's like relatively entertaining to read Chumba and these guys because they're funny, but it's so useless right now.
00:34:02.319 --> 00:34:03.759
I I have no words.
00:34:04.160 --> 00:34:05.039
That's the other thing.
00:34:05.119 --> 00:34:08.320
You take three days off and you think to yourself, I should never open this app again.
00:34:08.480 --> 00:34:09.840
I should never use it again.
00:34:10.000 --> 00:34:13.039
It is like so unusable right now.
00:34:13.199 --> 00:34:18.320
I it's so unusable this app, but that's not the point of where we're at.
00:34:18.400 --> 00:34:21.360
So 853 sec 1200.
00:34:21.440 --> 00:34:23.360
Uh, do I even check on chain?
00:34:23.599 --> 00:34:23.920
Really?
00:34:24.320 --> 00:34:25.360
Do I even look?
00:34:25.760 --> 00:34:26.480
Pawns.
00:34:26.639 --> 00:34:28.480
I was just early on my short.
00:34:28.960 --> 00:34:30.159
I really just was.
00:34:30.480 --> 00:34:32.320
Stonk somehow is worse.
00:34:32.639 --> 00:34:35.360
FWA is somehow worse than both.
00:34:35.679 --> 00:34:38.079
Boner is nope, this one's the worst.
00:34:38.239 --> 00:34:38.559
Wow.
00:34:38.800 --> 00:34:39.280
Z cat.
00:34:39.599 --> 00:34:40.559
Okay, not bad.
00:34:40.880 --> 00:34:44.639
Car, I capitulated cards, but I love this coin so much.
00:34:45.039 --> 00:34:45.840
Oh, I love it.
00:34:46.320 --> 00:34:46.880
What do we got?
00:34:47.039 --> 00:34:48.719
Mars coin death.
00:34:48.960 --> 00:34:50.639
Useless kind of death.
00:34:51.199 --> 00:34:53.039
Lie is pretty bad too.
00:34:53.280 --> 00:34:55.519
Is there anything like what about IMD?
00:34:55.679 --> 00:34:56.320
Not bad.
00:34:56.480 --> 00:34:57.760
That's a good looking chart.
00:34:58.000 --> 00:34:58.400
Neat.
00:34:58.719 --> 00:34:59.920
All right, let's talk about this.
00:35:00.400 --> 00:35:08.800
This coin has gotta be up there with the most cursed on-chain coin in history of on-chain coins.
00:35:09.119 --> 00:35:13.280
Imagine you get the narrative, like the narrative, the perfect narrative.
00:35:13.519 --> 00:35:23.199
The perfect coin, the board sit meme, the wick, new chain, Vlad Teneth goes all in, massive UP and L's, nobody wants to sell.
00:35:23.280 --> 00:35:27.679
You get the perfect storm and you get vamped by the president.
00:35:27.920 --> 00:35:41.199
Not only does he say we're no longer using the term artificial intelligence, but if you use the term artificial intelligence, you are an enemy of the United States of America, the most powerful powerful military in the world.
00:35:41.360 --> 00:35:44.079
You are an enemy of the state.
00:35:44.480 --> 00:35:48.639
If you use the word AI unironically, it's like, what?
00:35:48.880 --> 00:35:49.920
It's almost think, man.
00:35:50.159 --> 00:35:51.280
I was thinking about the other day.
00:35:51.440 --> 00:36:02.079
Like, my problem, my actual main problem with meme coins, my my my main just grip, gripe, grip with meme coins is that it people don't appreciate this enough.
00:36:02.320 --> 00:36:07.199
How perfect the conditions have to be for a meme coin to go really high.
00:36:07.519 --> 00:36:18.480
People do not give enough credit for how many things have to go right in a row for a meme coin to get to 50 mil, 100 mil.
00:36:18.559 --> 00:36:25.039
Like how absolutely perfect everything has to be, and how many things you can get vamped?
00:36:25.119 --> 00:36:26.800
You can get vamped on a million chains.
00:36:26.880 --> 00:36:38.079
The dev can launch a second coin, random shit like oil going high, bitcoin flash crash, Zcash flash crash, or even bet, even better, Garrett Bullish gets rage baited.
00:36:38.239 --> 00:36:43.840
He posts a Zcash position that causes a Z cash flash crash that causes the Bitcoin flash crash.
00:36:44.079 --> 00:36:59.840
Yield, like there's so many things, or just new coin, new narrative, new thing gets hot, steals all there's so many things that can vamp your meme coin that for them to for anything in these conditions to go high, it's like a miracle.
00:37:00.079 --> 00:37:12.719
And so from that perspective, the guys that make a lot of money on meme coins, and when they do, like if you have a monster trade, like if you hit um Malcolm's super intelligence, super Enu trade, you gotta kind of just like tip your cap.
00:37:13.760 --> 00:37:17.519
Because there's just like so many ways to lose.
00:37:17.599 --> 00:37:20.079
And if you don't, I just feel like you're good.
00:37:20.159 --> 00:37:20.639
I don't know.
00:37:20.719 --> 00:37:24.079
Like, I feel like sometimes beam coin traders don't get enough credit, really.
00:37:24.239 --> 00:37:25.280
Um, all right, let's do this.
00:37:25.360 --> 00:37:26.159
Let's switch it up a little bit.
00:37:26.239 --> 00:37:27.360
We're gonna do basic and z articles.
00:37:27.519 --> 00:37:28.400
Anyone read it?
00:37:28.719 --> 00:37:31.199
We got a new base 16 article.
00:37:31.280 --> 00:37:31.920
Has anyone read it?
00:37:32.000 --> 00:37:32.559
Has anyone read it?
00:37:32.639 --> 00:37:33.280
Has anyone read it?
00:37:33.360 --> 00:37:34.159
Has anyone read it?
00:37:34.239 --> 00:37:37.280
He's coming on Thursday.
00:37:37.440 --> 00:37:40.559
It's really short, but it is pretty good.
00:37:40.639 --> 00:37:41.599
It's super short.
00:37:41.679 --> 00:37:44.559
It's it might be my least favorite based article, but it's good.
00:37:44.719 --> 00:37:46.480
Um, all right, mused.
00:37:46.639 --> 00:37:53.840
I met a gentleman in southern Arizona this week who owns a selection of local businesses of varying quality and a huge house with a pool.
00:37:54.079 --> 00:38:00.320
He's dated half the Sun's cheerleading team as a primary but not unfulfilled goal.
00:38:00.480 --> 00:38:04.079
There are no walkable roads, and every billboard is a political advertisement.
00:38:04.239 --> 00:38:10.320
But in a global market, you need noise and scale and beating the hell out of the other guy in the polls.
00:38:10.480 --> 00:38:12.800
You need more than Arizona voters.
00:38:13.360 --> 00:38:20.480
The purpose of marketing on X, the Everything app, has nothing to do with reaching customers.
00:38:20.719 --> 00:38:26.159
It's about selling shares at high prices to venture capitalists and retail investors.
00:38:26.480 --> 00:38:34.880
Bodded launch posts, Alexander Wang tweeting memes, down 40% year to date, mandatory David Senra interview.
00:38:35.119 --> 00:38:39.440
Um, Zuckerberg hired a PM for investor relations.
00:38:39.679 --> 00:38:41.519
Semi-analysis has a Drake video.
00:38:42.000 --> 00:38:52.159
Michael Saylor maximalizes this print shares for the indices, retail call buyers, convertible bond, arbitrage, arbitrage desks, and whoever else will buy them.
00:38:52.320 --> 00:38:54.239
Funnel cash into a hard asset.
00:38:54.480 --> 00:38:58.320
Bending spoons announced air table layoffs on X today as rage bait.
00:38:58.400 --> 00:38:58.960
I missed that.
00:38:59.119 --> 00:39:06.559
Millions of impressions converting investors at 1.5% towards checking BSP on TradingView.
00:39:07.119 --> 00:39:11.760
This new marketplace of ideas ensures the death of legacy brands.
00:39:11.920 --> 00:39:15.599
Nike, Starbucks, Lululemon, down only.
00:39:15.920 --> 00:39:19.280
Nobody has a persistent brand identity or favorites.
00:39:19.440 --> 00:39:23.840
They don't remember Jordan playing, they don't remember the basketball game from three days ago.
00:39:24.000 --> 00:39:30.880
You're competing with a marketplace of 800 micro micro brands fighting in the trenches of meta ads.
00:39:31.039 --> 00:39:39.840
One just discovered Kendall Jenner's third best friend from high school's new YouTube channel via a Grockbot and sent her a free pair of shoes.
00:39:40.000 --> 00:39:42.480
The new Uncanny Valley, this X account.
00:39:42.719 --> 00:39:44.719
There's no more individual anymore.
00:39:44.800 --> 00:39:45.920
It's just the hive.
00:39:46.000 --> 00:39:46.880
What's the X account?
00:39:47.119 --> 00:39:47.920
Nomad Maker.
00:39:48.000 --> 00:39:48.320
What is this?
00:39:48.480 --> 00:39:50.400
Getting better at New Uncanny Valley.
00:39:50.480 --> 00:39:51.039
What is this?
00:39:51.199 --> 00:39:53.199
Getting better at doing things just by doing things.
00:39:53.599 --> 00:39:56.079
Lead forward developer engineer railblocks.
00:39:56.239 --> 00:39:57.280
I missed this actually.
00:39:57.440 --> 00:39:58.880
Wait, what's the lore on this?
00:39:59.039 --> 00:40:02.559
I don't get this part, but this is a take I really like.
00:40:02.800 --> 00:40:06.559
This I feel like is extrapolated into trade ideas, by the way.
00:40:06.719 --> 00:40:08.800
Nobody has a persistent trade idea.
00:40:09.039 --> 00:40:11.199
Nobody has a favorite trade idea.
00:40:11.280 --> 00:40:13.199
It changes every three days.
00:40:13.440 --> 00:40:14.880
It changes every hour.
00:40:15.039 --> 00:40:16.320
It changes every week.
00:40:16.480 --> 00:40:18.480
The trade of the week changes every week.
00:40:18.639 --> 00:40:29.360
The trade of the hour, the trade of the minute, the coin of the day, the on-chain favorite, the chain favorite, the altcoin favorite, the privacy favorite, the perp decks favorite.
00:40:29.440 --> 00:40:32.320
It feels like it changes every fucking minute.
00:40:32.639 --> 00:40:45.440
It's a pretty good point about Lulu and legacy brands as well, is that I feel as if I more than ever now I'm consuming stuff that I don't even really know what like where it came from.
00:40:45.599 --> 00:40:48.559
Where like I get I get a lot of where where where are your pants from?
00:40:48.639 --> 00:40:50.559
I'm like, I don't even know where my pants are from.
00:40:50.960 --> 00:40:52.239
It used to just be Nike.
00:40:52.480 --> 00:40:53.840
Where where are my pants from?
00:40:54.559 --> 00:40:56.239
I don't know, actually.
00:40:56.639 --> 00:40:57.599
Like, where are your boot?
00:40:57.840 --> 00:41:01.519
What I bought these really fresh, like black loafers the other day.
00:41:01.599 --> 00:41:02.639
They're expensive.
00:41:02.880 --> 00:41:04.000
No idea where they're from.
00:41:04.159 --> 00:41:04.880
No clue.
00:41:05.039 --> 00:41:09.119
Because all of these stores, by the way, are like arbitrage stores.
00:41:09.280 --> 00:41:10.480
It's like Nordstrom.
00:41:10.559 --> 00:41:14.079
It's like they sell every store now sells nine different brands.
00:41:14.320 --> 00:41:17.039
So I bought one of the random brands in the in the store.
00:41:17.119 --> 00:41:18.639
I have no, I don't even know where they're from.
00:41:18.960 --> 00:41:19.440
Never heard of it.
00:41:19.519 --> 00:41:21.519
I have no, I've taken them off and I'm looking at it.
00:41:21.679 --> 00:41:26.719
Every store is like an arbitrage collect collective of we sell everything.
00:41:26.800 --> 00:41:32.960
We sell like vintage, we sell designer, we got Dior in here, we got some cuddy brands in here.
00:41:33.199 --> 00:41:35.280
Everything is like a collection of everything.
00:41:35.519 --> 00:41:41.599
And so I find myself more than ever not even really knowing where my shit is from.
00:41:41.760 --> 00:41:43.599
I don't even know where my stuff is from.
00:41:43.840 --> 00:41:44.719
Think about it though.
00:41:44.800 --> 00:41:53.599
You dude, my fate, my the we have me and Malcolm this new favorite store in New York, and it's not a brand, it's just like a store, and they have brands in the store.
00:41:53.760 --> 00:41:59.119
And so I'm not even really looking, I just checked out, checked out, checked it out, and I'm like, oh yeah, wait, what what brand is this?
00:41:59.280 --> 00:42:00.480
Would like to see it again.
00:42:00.639 --> 00:42:02.880
Everything is everything, it feels like.
00:42:02.960 --> 00:42:14.880
And it feels like the same thing is true in trade ideas in the market, where like the biggest threat to Zcash or any coin is not it not delivering on the thesis or it not playing out.
00:42:14.960 --> 00:42:18.159
It's like some other thing gaining the spotlight.
00:42:18.320 --> 00:42:25.199
That's the big it's getting vamped by some other thing, like some new cool thing that comes out every five hours, vamping it.
00:42:25.360 --> 00:42:29.119
I know department stores have been around, but it's like the department storification of everything.
00:42:29.360 --> 00:42:29.840
Facts.
00:42:30.000 --> 00:42:39.519
Like how, dude, I tell me if I'm wrong about this, but my purchase frequency of Instagram ads is up substantially in the last year.
00:42:39.920 --> 00:42:40.639
One to two years.
00:42:40.719 --> 00:42:41.840
It's up substantially.
00:42:42.000 --> 00:42:44.159
The amount of things that I buy on an Instagram ad.
00:42:44.320 --> 00:42:46.719
The checkout flow is the smoothest it has ever been.
00:42:46.880 --> 00:42:53.440
It takes two clicks to get from to get from ad to Apple Pay to double tap, four clicks.
00:42:53.679 --> 00:42:58.079
Click the ad, click checkout, pay with Apple Pay, five clicks, you're done.
00:42:58.159 --> 00:42:59.039
I'm done.
00:42:59.360 --> 00:43:04.880
And my yeah, my consumption of of Apple Pay is like the highest it's ever been.
00:43:04.960 --> 00:43:06.159
Or uh Instagram ads.
00:43:06.239 --> 00:43:07.599
It's the highest it's ever been by far.
00:43:07.679 --> 00:43:09.519
Like it's going, it's going up substantially.
00:43:09.679 --> 00:43:10.480
Really, it is.
00:43:10.639 --> 00:43:11.679
It's nuts.
00:43:12.000 --> 00:43:16.800
Um, so I I like the based 16Z article.
00:43:16.960 --> 00:43:18.239
Um, all right, I'm leaving.
00:43:18.320 --> 00:43:18.800
I gotta go.
00:43:18.880 --> 00:43:19.679
I'll be back tomorrow.
00:43:19.760 --> 00:43:21.280
We got a fucking cryptography stream.
00:43:21.440 --> 00:43:23.760
I know you don't want to do come here for it, but you gotta come here for it.
00:43:23.840 --> 00:43:25.280
You just gotta do it.
00:43:25.360 --> 00:43:26.000
It is what it is.
00:43:26.159 --> 00:43:26.559
I love you.
00:43:26.639 --> 00:43:27.199
I appreciate you.
00:43:27.280 --> 00:43:28.000
I'll be here tomorrow.
00:43:28.079 --> 00:43:28.719
It's an important one.
00:43:28.800 --> 00:43:29.599
You gotta just do it.
00:43:29.760 --> 00:43:32.559
Just fucking deal with it, lock in, get it done.
00:43:32.719 --> 00:43:33.119
Let's go.
00:00:00.160 --> 00:00:02.319
It's going to be a great day today.
00:00:02.479 --> 00:00:03.680
It's gonna be a great day today.
00:00:03.759 --> 00:00:06.080
I have a lot to talk about regarding the coins.
00:00:06.160 --> 00:00:08.000
I have some weekend updates.
00:00:08.320 --> 00:00:10.560
I have uh here's the plan for today.
00:00:10.720 --> 00:00:13.359
We're gonna do an AI gaming segment, which I'm really hyped about.
00:00:13.519 --> 00:00:19.839
Hood Warfare, Hood Warfare 2 just dropped, Pokemon minigames just dropped, stuff for days to talk about.
00:00:20.000 --> 00:00:30.239
We're gonna quickly cover Ledger, which I wasn't planning on doing, but it's just a ridiculous story of what's going on with cold storage and coins.
00:00:30.399 --> 00:00:35.119
And you should be, I don't know, you should be like conscious of this for sure.
00:00:35.359 --> 00:00:41.920
We're gonna do an AI loser segment before market open, and then afterwards I market open, I have a ton to talk about today.
00:00:42.000 --> 00:00:44.880
So it's uh look it was a pretty wild weekend.
00:00:45.119 --> 00:00:47.920
It's crazy how long three days away from the market feels.
00:00:48.240 --> 00:00:49.759
Like I feel like I've been zen.
00:00:50.000 --> 00:00:50.880
It's it's nuts.
00:00:50.960 --> 00:00:53.119
I took three days off, and I really did take three days off.
00:00:53.280 --> 00:01:00.479
Like I told myself I was not gonna trade any coins until Monday after I torched some money on the Zcash thing.
00:01:00.560 --> 00:01:08.560
I was just it's emotional, I was feeling the heat a little bit, I was feeling some weight, and I was like, let me just like take a step back and and you know, just do nothing.
00:01:08.719 --> 00:01:09.840
And that's what I did.
00:01:10.000 --> 00:01:12.959
And my I was thinking I was gonna come back to the board.
00:01:13.200 --> 00:01:16.799
I keep saying board and buy coins.
00:01:16.959 --> 00:01:24.879
And the first thing I did when I came back was short pump font, closed it, plus 13 banned straight to the head, and we had just like death of coins yesterday.
00:01:24.959 --> 00:01:26.799
I think we look fine right now, but yeah, I don't know.
00:01:26.959 --> 00:01:27.840
I have a lot to say.
00:01:28.000 --> 00:01:32.079
I feel like I took a I I don't know, I feel like I learned a lot in three days off the market.
00:01:32.159 --> 00:01:37.040
It feels like a long, it feels like an eternity three-day weekend to not stream.
00:01:37.280 --> 00:01:44.879
Okay, the biggest thing that has been on my docket over the weekend after three days off, I really was not paying attention to the market.
00:01:44.959 --> 00:01:51.120
Like the only thing I would do would be like, damn, Zcash, I would just like hit some ad libs, like damn, Zcash looks terrible.
00:01:51.200 --> 00:01:53.040
Or like, damn, coins look pretty bad.
00:01:53.200 --> 00:02:02.239
I would hit some ad lib ad libs every once in a while, but I genuinely was like my screen time on trading view was it was super low, extremely low.
00:02:02.319 --> 00:02:05.200
I was not looking on chain, it was extremely low.
00:02:05.280 --> 00:02:12.000
And the thing that was on my feed the most of Twitter, the thing that I paid the most attention to by far is AI gaming.
00:02:12.159 --> 00:02:12.479
Okay.
00:02:12.639 --> 00:02:14.400
I said this once and I'll say it again.
00:02:14.639 --> 00:02:23.919
Is we are very obviously right now about to enter a gaming resurgence or renaissance, if you will, with AI.
00:02:24.080 --> 00:02:24.400
Okay.
00:02:24.800 --> 00:02:26.800
Anyone can code anything.
00:02:27.120 --> 00:02:32.159
The timing to take idea to iteration to live is basically zero.
00:02:32.560 --> 00:02:44.240
And I think there's this unforeseen consequence that AI brings to the world, which is gaming is going to be fun again, and gamers are going to actually embrace it.
00:02:44.319 --> 00:02:47.280
Historically, gamers hate AI, they hate AI.
00:02:47.520 --> 00:02:48.560
DNApp told me this.
00:02:48.719 --> 00:02:52.319
I wasn't really aware that gamers are the originators of the term AI slop.
00:02:52.400 --> 00:03:01.360
They hate AI, and I think it's going to change because the only thing they hate more than AI is AAA gaming studios, which fucking suck.
00:03:01.599 --> 00:03:10.719
My timeline this weekend was dominated by Hood Warfare 2, which I'm unsure I've seen both ways, but they're calling it a vibe coded game.
00:03:10.800 --> 00:03:18.240
They've downgraded vibe coded game into AI developed game, I think is where we've landed an AI developed game.
00:03:18.400 --> 00:03:19.840
But this has taken over my feed.
00:03:19.919 --> 00:03:25.599
It's done like, I don't know, 50 million impressions on Twitter, and I've seen Hood Warfare 2 everywhere on my TL this weekend.
00:03:25.759 --> 00:03:26.639
This is it.
00:03:27.520 --> 00:03:29.039
Hold it down, Twin.
00:03:29.840 --> 00:03:38.240
Here I don't feel super comfortable playing the whole thing on Twitch, but it was built in Unreal.
00:03:38.400 --> 00:03:41.840
I saw with AI, and it went viral.
00:03:42.080 --> 00:03:43.680
Like viral, viral.
00:03:43.840 --> 00:03:49.199
It went viral after it went viral on Steam after Twitter.
00:03:49.280 --> 00:03:56.560
And it peaked yesterday at 11,730 concurrent players.
00:03:56.800 --> 00:03:59.039
Um, which is no joke.
00:03:59.199 --> 00:04:00.400
It's a five dollar game.
00:04:00.560 --> 00:04:02.479
It's made a lot of money and it peaked at 11.
00:04:02.719 --> 00:04:04.159
It peaked at 11,000 concurrent.
00:04:04.639 --> 00:04:06.080
Where does that like rank?
00:04:06.240 --> 00:04:10.400
Like Diablo's got like Call of Duty, Call of Duty's got 36k.
00:04:10.479 --> 00:04:12.159
Diablo's got like 22k.
00:04:12.319 --> 00:04:14.960
Like, bro, it went it went pretty, pretty, pretty viral.
00:04:15.199 --> 00:04:27.519
And so I think the coolest part about this game performing the way that it has is one, how cheap it was to make, how cheap the game costs, and the embracing that the gaming community gave around the word AI.
00:04:27.839 --> 00:04:29.199
We've never really seen this.
00:04:29.439 --> 00:04:31.839
No, seriously, normies hate AI.
00:04:32.000 --> 00:04:33.680
Gamers really hate AI.
00:04:33.839 --> 00:04:35.360
So this goes really viral.
00:04:35.519 --> 00:04:39.680
And the second thing that I saw that my timeline was dominated by this weekend was this.
00:04:39.920 --> 00:04:40.240
Okay.
00:04:40.480 --> 00:04:42.399
This guy, Old Town JB, posted this.
00:04:42.480 --> 00:04:48.319
Me and the boys came up with the all 22 of Pokemon from the original 150 No Legendaries.
00:04:48.480 --> 00:04:49.519
NFL lineup.
00:04:49.600 --> 00:04:50.560
I think we nailed it.
00:04:50.639 --> 00:04:56.399
And this post was the story of Friday, I think, or Thursday, whatever it was, October 8th.
00:04:56.560 --> 00:05:01.199
There's 9.3 million views, and everybody made their own version of this.
00:05:01.360 --> 00:05:02.959
Start, you're starting NFL lineup.
00:05:03.120 --> 00:05:04.160
By the way, lineup is mid.
00:05:04.240 --> 00:05:08.000
I've never once thought about Gengar as a quarterback, but that's kind of besides the point.
00:05:08.800 --> 00:05:12.639
This post was the post, the canonical post.
00:05:12.720 --> 00:05:15.040
Everybody was running this, everybody was posting their own lineup.
00:05:15.120 --> 00:05:21.920
And basically within the same weekend, again, idea to playable is like instant.
00:05:22.160 --> 00:05:28.720
Cole Theorem, believe it or not, the original creator of Pudgy Penguins, built the all 22 bowl.
00:05:28.959 --> 00:05:36.560
And you basically can make your lineup and you can play in a mini football game with your fucking Pokemon, bro.
00:05:36.720 --> 00:05:37.839
Watch this shit.
00:05:46.959 --> 00:05:48.240
Is this not sick?
00:05:48.560 --> 00:05:52.720
Like, yeah, the gameplay looks terrible, but that's kind of besides the point.
00:05:52.879 --> 00:05:53.199
Okay?
00:05:53.360 --> 00:05:56.399
This would have taken forever to code by hand.
00:05:56.480 --> 00:05:58.160
You would have never gotten this done.
00:05:58.399 --> 00:06:00.240
This would have it would have never happened.
00:06:00.319 --> 00:06:02.160
He posted this October 11th.
00:06:02.480 --> 00:06:16.560
Three days later, from this tweet going viral to this game being playable, it has 300,000 views, and I saw hundreds of posts of people talking about the football version of this.
00:06:16.720 --> 00:06:18.720
So yes, obviously it is slop.
00:06:18.879 --> 00:06:20.560
Yes, obviously it is not good.
00:06:20.639 --> 00:06:31.680
But the fact that you basically took a screenshot, turned it into a playable game, were something that would have taken full, by the way, Nintendo is gonna start World War III with their legal team over this.
00:06:31.759 --> 00:06:34.959
But the fact that you could do this in three days, full AI.
00:06:35.040 --> 00:06:36.079
I mean, he did not code this.
00:06:36.160 --> 00:06:42.160
This is just like straight vibe-coded, clawed, whatever, is nuts to me.
00:06:42.399 --> 00:06:57.920
And so I was thinking about it, and as it relates to AAA game studios, I think it's pretty clear that gone are the days of 10 years in between AAA game launches, five years in between triple A game launches.
00:06:58.079 --> 00:07:01.519
Rockstar came out and they confirmed that GTA 6 doesn't use any generative AI.
00:07:02.000 --> 00:07:08.079
It said they've made 600,000 animations by hand and used human artists for every asset in game, which is great.
00:07:08.160 --> 00:07:10.319
That's awesome, but bro, it took 10 years.
00:07:10.639 --> 00:07:10.959
Okay.
00:07:11.360 --> 00:07:17.360
I would argue we're basically already at the point where you do not care if it was AI or not.
00:07:17.519 --> 00:07:21.120
You just care if it was good and if it's fun.
00:07:21.439 --> 00:07:26.639
Like, do you think gamers would have been mad if GTA 6 came out five years ago if they used some AI?
00:07:26.800 --> 00:07:27.519
Absolutely not.
00:07:27.680 --> 00:07:35.600
And so the follow-up to that is this which is Epic Games has internally delayed the release of a shooter game they've been developing featuring Star Wars and Marvel characters.
00:07:35.839 --> 00:07:40.639
Developers in the game have now been told to only use AI to write code, no more handwritten code.
00:07:40.879 --> 00:07:53.519
All art for the game would be generated with full AI workflows, and so it's basically happening right now, and you will never wait 10 years for a triple A game release again.
00:07:53.600 --> 00:07:54.399
Like that's it.
00:07:54.639 --> 00:07:58.480
And this is as a result, I still think GTA 6 is gonna flop.
00:07:58.639 --> 00:07:59.120
I do.
00:07:59.279 --> 00:08:17.920
I think GTA 6 is gonna flop because the bike guys just it's just moved on, like it will be the game of the decade, but I don't think it's gonna be this intergalactic domination for 10 plus years, the way that GTA 5 is gonna be, or the way that GTA 5 was.
00:08:18.240 --> 00:08:33.600
And so the real edge here that makes it exciting with what's happening is the ability to go from idea to iteration in rapid acceleration, and then the ability to decompile games and make them combine them, make them accessible for everyone.
00:08:33.840 --> 00:08:41.039
And it is hard to not be excited about what is happening right now in the gaming sphere.
00:08:41.360 --> 00:08:48.559
Okay, second topic that is important to cover before we do anything because it's fucking scary.
00:08:48.960 --> 00:09:03.279
On our Friday stream, there was a ledger exploit that happened live while I was covering and doing a reha rehashing of 1010, where 86 million dollars was exploited from ledger.
00:09:03.360 --> 00:09:13.120
And we've basically entered the point right now where I cannot come on the stream with a straight face and tell you that you should be storing your crypto in cold storage for any reason ever.
00:09:13.360 --> 00:09:20.799
The only thing I can recommend that you do is put it on Coinbase and just pray because what happened is nuts.
00:09:21.279 --> 00:09:30.799
Basically, the story where 86 million dollars was exploited from Ledger is there's this third-party reseller called Crypto Billis.
00:09:31.679 --> 00:09:37.519
Okay, it's a Southeast Asian Web3 and online crypto commerce store.
00:09:37.679 --> 00:09:40.480
They sell hard wallets and self-custody tools.
00:09:40.799 --> 00:09:47.039
First of all, you should never buy a hardware wallet from a third-party reseller, is nuts.
00:09:47.120 --> 00:09:50.639
I mean, that is just straight up nuts in the first place.
00:09:51.120 --> 00:09:56.240
Like, it's almost like if you are willing to do that, you don't even have enough money in coins.
00:09:56.320 --> 00:10:03.759
Like, if you think that that's okay, you don't even have enough money in coins where you would need a hardware wallet where it would really theoretically make sense.
00:10:03.919 --> 00:10:09.840
And so how they got 86 million dollars is just beyond me, but that's not the point, okay?
00:10:10.159 --> 00:10:15.039
Because there's this third party reseller that sells these ledgers, okay?
00:10:15.200 --> 00:10:27.200
They were acquired by a new management company that put them under a legally bound contract that did not allow them to publicize or announce that they were purchased until October 19th.
00:10:27.279 --> 00:10:27.600
Okay.
00:10:27.759 --> 00:10:40.879
Third party ledger reseller, they get acquired, they sell, they get bought by a company that says you are not allowed to make a post that you got purchased until X date, which happens to be October 19th.
00:10:41.039 --> 00:10:41.360
Okay.
00:10:41.840 --> 00:10:55.360
What this company does, run by this fellow, Nicholas Chang, is they proceed to basically lace all of these ledgers with some tracker system of some sort where they can see your seed phrase.
00:10:55.440 --> 00:11:04.159
I don't know exactly how it works, but they insert some device, some chip into your these ledgers that are being sold to scalp your seed phrase.
00:11:04.480 --> 00:11:06.960
So they have access to everything you have access to.
00:11:07.679 --> 00:11:18.399
They waited for$86 million to get built up in cold store in storage, sitting on these ledgers, and then they wiped all of them at the same time.
00:11:18.799 --> 00:11:28.159
To make matters worse, the same thing has probably happened with these European retailers as well.
00:11:28.559 --> 00:11:28.879
Okay.
00:11:29.360 --> 00:11:36.320
Basically, if you have ever bought a third-party ledger, you are at like major risk.
00:11:36.559 --> 00:11:40.000
Reads the text on the screen and then sends it with SIM card.
00:11:40.480 --> 00:11:41.039
Got it.
00:11:41.200 --> 00:11:41.919
Makes sense.
00:11:42.080 --> 00:11:46.720
And so I think the thing that's wild about what just happened with Ledger is I never really thought about this.
00:11:46.799 --> 00:11:54.159
Is like there's an obvious vulnerability in the system here, which is that the supply chain is a huge risk.
00:11:54.240 --> 00:12:13.360
It's a supply chain, there's like a factory that manufactures ledger, which is a product whose entire purpose is to store cryptocurrency and theoretically storage particularly large amounts of cryptocurrency because people feel like they're safe and it's on a ledger, and they're it's like they're it's like their storage, it's like a it's like their savings account versus a checking account.
00:12:13.600 --> 00:12:17.440
The obvious vulnerability here is a supply chain, right?
00:12:18.080 --> 00:12:24.639
Where I mean there's like humans interacting with these things, can pop a chip or put a little skimmer on it.
00:12:24.720 --> 00:12:30.720
I don't know exactly how this stuff works, and your ledger is now vulnerable.
00:12:30.960 --> 00:12:43.360
And so if you really sit down and think about this logically and look at the incentives with how much money's online on the line, it was all this was bound to happen at some point, but I had never really considered it a possibility.
00:12:43.679 --> 00:12:52.000
And a video came out of how to check if your ledger device has been hacked by opening up to search for modifications, and it's just it's just ridiculous, really.
00:12:52.080 --> 00:12:56.720
I mean, this is straight up, this is ridiculous to expect people to do this.
00:12:56.879 --> 00:12:57.759
It's not.
00:12:58.320 --> 00:13:03.200
And so you think to yourself, okay, how stupid could you be to buy it from a third-party reseller?
00:13:03.440 --> 00:13:05.360
But what about buying it from Ledger?
00:13:05.519 --> 00:13:09.440
They have some factory somewhere where these things are getting manufactured by who?
00:13:09.600 --> 00:13:12.639
By someone that makes$20 an hour is manufacturing ledgers.
00:13:12.799 --> 00:13:13.840
Am I wrong about that?
00:13:14.080 --> 00:13:18.480
Like the CEO of Ledger isn't hand manufacturing every ledger, right?
00:13:18.879 --> 00:13:22.320
So you think to yourself, how do you trust any ledger?
00:13:22.480 --> 00:13:23.679
Even if you buy it from them.
00:13:23.759 --> 00:13:25.039
And then, yeah, then guess what?
00:13:25.200 --> 00:13:41.200
Then you buy it from Ledger, you have a real one that is unhackable or unexploitable, and then they have a data breach, and your home address with your ledger, you know, with your ledger, if you keep it there, wherever it is, your home address is now like leaked to the entire internet as someone that's purchased a ledger.
00:13:41.360 --> 00:14:00.879
And so they posted an update about this, but man, it it's it's a pretty just brutal thought that this happened the way that it did, because the cold storage thing, the maybe the hard I would say the hard not cold storage, but the hardware wallet concept is sort of getting broken quite a few ways.
00:14:01.039 --> 00:14:06.480
Like there was the there's like the AI cracking fear that happened, was it cold card?
00:14:06.559 --> 00:14:07.919
It was called a month ago.
00:14:08.080 --> 00:14:24.639
We covered this on stream a month ago, that these like really early Bitcoin wallets are not super sophisticated with how they generate seed phrases, it could be cracked relatively not relatively easy, but they were were crackable with AI, and then now you have these ledger exploits.
00:14:24.960 --> 00:14:30.799
And I just feel for regular people that are trying to do crypto the right way.
00:14:30.960 --> 00:14:44.639
Like imagine you did everything right, and you bought Bitcoin really early, and you never touched it, and it you had perfect security in OPSEC, and you did it the right way, and then you got AI cracked your your seed phrase.
00:14:44.720 --> 00:14:46.960
It's like, bro, what the fuck?
00:14:47.279 --> 00:15:05.120
And so I think that maybe they just call me call me anti-patriotic, but the era of putting your coins back on Coinbase or really trusted tier one sex and praying seems to be back.
00:15:05.360 --> 00:15:12.159
The era of like holding your Bitcoin via ETF feels like it's hard to argue with for most people.
00:15:12.320 --> 00:15:18.399
For most people, not for everyone, for most people, for most normal people that are not super in the weeds.
00:15:18.559 --> 00:15:21.600
Um, all right, let's talk about what's going on in crypto right now.
00:15:21.759 --> 00:15:28.000
I want to rehash where we are, what's happened, and how I left the weekend feeling.
00:15:28.240 --> 00:15:34.240
I think if you're just catching up or like meditate here, and we should do some rehashing on the SAS death because I think it's relevant.
00:15:34.559 --> 00:15:44.320
Is in my opinion, and stealing the basic scenes tweet, it feels crypto has been labeled an AI loser after the fears from the Justin Drake post.
00:15:44.559 --> 00:15:49.200
Okay, he comes out, he makes his post a couple days Wednesday, Thursday.
00:15:49.440 --> 00:15:54.879
He calls upon the blockchain industry to calmly begin planning for what he is calling bunker mode.
00:15:55.120 --> 00:16:10.879
Basically, rapid acceleration in AI math has led to fears that were previously thought to take multiple years, three, four, five years of AI's ability to crack cryptography could potentially happen over the next couple months.
00:16:11.120 --> 00:16:17.600
There was sort of this mass panic amongst market participants, devs, founders, everything in between.
00:16:17.840 --> 00:16:20.720
There was some flush outs on alts.
00:16:21.120 --> 00:16:28.399
Bitcoin dumped a little bit, couple percent, and we basically come back on Monday, and we're basically where we left.
00:16:28.559 --> 00:16:34.320
Things are like 5% lower, nothing crazy, but it feels like we have this overhang right now.
00:16:34.480 --> 00:16:44.159
And the thing that I think about and call back to, which is worth covering, is the SaaS pocalypse, okay, which we spent a bunch of time covering on stream.
00:16:44.320 --> 00:16:53.919
And the belief was basically that AI, clawed code, these coding agents have gotten good enough where software as a service is no longer important.
00:16:54.080 --> 00:16:56.159
Everyone is just going to vibe code everything.
00:16:56.320 --> 00:17:00.320
I'm gonna make you're not gonna need any CRM, you'll just vibe code your own.
00:17:00.399 --> 00:17:03.519
You're not gonna need, I don't know, Duolingo, you'll just vibe code your own.
00:17:03.600 --> 00:17:11.039
And the narrative was software is now obsolete because everyone has their personal coding agents and they're gonna make their own personal software.
00:17:11.200 --> 00:17:12.720
Now, was this true?
00:17:12.960 --> 00:17:14.160
Absolutely not.
00:17:14.319 --> 00:17:19.920
Like it actually could not have been farther from true, at least so far, that this was gonna happen.
00:17:20.160 --> 00:17:21.519
But did that matter?
00:17:21.839 --> 00:17:35.440
Not really, because if you look at what happened to these charts, we had IGV, which is the software ETF, basically go down about 40% in a straight line over six, seven, eight months.
00:17:35.680 --> 00:17:36.000
Okay.
00:17:36.640 --> 00:17:41.440
And there was a couple catalysts, and similar to what just happened with crypto, they were all blog posts.
00:17:41.519 --> 00:17:54.240
Okay, number one is there was this clawed blog post that came out um, I believe in January, February of 2026, which is customize co-work with plugins.
00:17:54.720 --> 00:17:55.839
January 30th.
00:17:56.000 --> 00:17:57.359
Customize co-work with plugins.
00:17:57.519 --> 00:18:02.720
If you look at it on the chart, it's like right here, like right about here when things started to get pretty ugly.
00:18:02.799 --> 00:18:08.400
And people realized, oh fuck, you know, Wall Street collectively realized, oh fuck, they can do what we do, right?
00:18:08.480 --> 00:18:19.039
They can be, you know, normal people are gonna be able AI plus normal people are gonna be able to build the things that we build, they're gonna be able to do the things that we do, they're gonna be able to be our a CRM or whatever it is.
00:18:19.279 --> 00:18:34.559
The second thing in the real doom and gloom was the two thousand uh 2028 global intelligence crisis from Citrini, where he laid out this sort of doom thesis for software for AI for things like Visa and MasterCard.
00:18:34.720 --> 00:18:37.039
DoorDash was the one explicitly mentioned.
00:18:37.200 --> 00:18:42.480
The next morning there was like$500 billion wiped out from the stock market.
00:18:43.039 --> 00:18:46.000
This happened to come near the pico bottom.
00:18:46.079 --> 00:18:53.119
Um, in February of IGV, there was one leg lower, but it was near pico bottom.
00:18:53.440 --> 00:18:56.799
And I think the third okay, so so look at this real quick.
00:18:56.880 --> 00:18:57.680
It was near pico bottom.
00:18:57.759 --> 00:18:58.720
So this is how bad it got.
00:18:58.880 --> 00:19:01.599
Um, service like basically everything was down 30, 40, 50 percent.
00:19:01.680 --> 00:19:11.920
Service now 30, Salesforce down 30, Intuit went down 50, Duolingo down 40, Cheg down 40, Adobe down 40, Unity, which is one of my favorites right now, is down 56.
00:19:12.000 --> 00:19:23.920
Like it was basically a 50% wipeout across the board from some blog posts that said software was going to be killed by AI.
00:19:24.079 --> 00:19:30.880
Now, here's the thing, and this is what I think is relevant to crypto is you can only get so far with blog posts, right?
00:19:31.039 --> 00:19:35.440
All these smart guys come out, they write some long posts, they get on Substack, they write the Twitter threads.
00:19:35.519 --> 00:19:40.079
The market panics because the market is emotional and it whipsaws back and forth and it goes down.
00:19:40.160 --> 00:19:46.480
But after a long enough time frame, the blog posts have to deliver on what they are threatening or what they promise.
00:19:46.880 --> 00:19:52.720
And I think two things happened that allowed software and the IGV to completely reverse and go back up.
00:19:53.119 --> 00:19:57.440
Number one was earnings for these SaaS companies just stayed really strong.
00:19:57.599 --> 00:20:12.640
It's like everyone's been dooming and glooming for months that software is dead, but Salesforce and all of these companies, service now and Snowflake, all these companies continue to post growth and continue to post sick earnings reports.
00:20:12.720 --> 00:20:14.880
What you're saying is happening is not happening.
00:20:14.960 --> 00:20:16.160
So who's lying?
00:20:16.400 --> 00:20:18.400
Men lie, women lie, numbers don't.
00:20:18.640 --> 00:20:20.480
And so that was the first thing.
00:20:20.640 --> 00:20:28.319
And I think the second thing that really got people was if you think back to peak IGV fear, what was the consumer narrative?
00:20:28.480 --> 00:20:32.960
To me, it was this it was clawed bot open claw.
00:20:33.119 --> 00:20:39.119
Okay, I look I went to Alex Finn's Twitter and I went to most power or his YouTube and I went to the most popular videos.
00:20:39.279 --> 00:20:46.079
And Open Claw, the most powerful AI tool I've ever used in my life, and the only open claw tutorial you will ever need.
00:20:46.319 --> 00:20:49.519
1.1 million views and 460k views.
00:20:49.680 --> 00:20:58.559
Okay, if you remember, at the bottom of sentiment and chart for software IGV, everyone and their mom was rushing to the Apple store.
00:20:58.880 --> 00:21:05.359
Mac minis were sold out, and everybody was running a harness with you know nine personal agents that can build anything.
00:21:05.599 --> 00:21:06.799
Everyone was doing this.
00:21:06.960 --> 00:21:07.759
I was doing it.
00:21:07.839 --> 00:21:10.240
We had a guy come on and teach you how to set up open claw.
00:21:10.400 --> 00:21:19.279
Everybody was running open claw agents with the belief that they could now, you know, they could vibe code anything, build any dashboard, build whatever.
00:21:19.680 --> 00:21:27.359
And in my opinion, and what happened is time went on, everybody got one, and nobody built anything.
00:21:27.599 --> 00:21:28.960
Really, nobody built anything.
00:21:29.119 --> 00:21:31.359
Like there's things were built, don't get me wrong.
00:21:31.519 --> 00:21:35.920
Things were built, and code was written, and some great tools came out of it.
00:21:36.160 --> 00:21:47.200
Acceleration and you know, AI acceptance accelerated, but nobody really built nobody really built anything from the perspective of X SaaS company is now dead.
00:21:47.440 --> 00:21:53.599
Okay, like nobody built Salesforce, nobody built Palantir, nobody built ServiceNow.
00:21:53.759 --> 00:21:59.759
And I think people collectively realize yes, you can write a lot of code, but you can't really code like Palantir's.
00:22:00.240 --> 00:22:00.640
Mote.
00:22:00.799 --> 00:22:10.079
You can't code Salesforce's, you know, institutional contracts and the way that it's infiltrated into every stack of all of these companies that it that it uses.
00:22:10.559 --> 00:22:18.319
And I think the fear was basically just disproven from a time perspective of okay, blog posts got us down 40%.
00:22:18.799 --> 00:22:24.160
The only thing that's going to make us any lower is all of these companies becoming worthless, missing earnings reports, whatever it is.
00:22:24.240 --> 00:22:25.599
That's clearly not happening.
00:22:25.759 --> 00:22:27.599
Maybe we should fucking buy them again.
00:22:27.920 --> 00:22:36.640
And from bottom in uh April, IGV is back up 50% and almost at all-time high.
00:22:36.799 --> 00:22:40.880
And you don't hear people talk about the SAS pocalypse much anymore.
00:22:41.039 --> 00:22:42.240
You just don't hear about it anymore.
00:22:42.400 --> 00:22:47.039
And so then you insert crypto, which seems to be in again.
00:22:47.119 --> 00:22:53.920
I think I maybe maybe mid-curve trying too hard to justify every price swing and what was the exact reason.
00:22:54.160 --> 00:22:57.279
But it's hard to ignore that we brought this hair.
00:22:57.599 --> 00:23:05.440
It's hard to ignore that we haven't found ourselves stuck in a similar AI loser type of overhang, at least at the moment.
00:23:05.519 --> 00:23:07.279
How long does it play for?
00:23:07.359 --> 00:23:08.319
It's unclear.
00:23:08.559 --> 00:23:19.359
But what you do know that's gonna happen is every time OpenAI comes out and publishes some new blog post about how they have made an advancement in math, people are gonna think, oh my god, the cryptography, what's gonna happen?
00:23:19.519 --> 00:23:22.559
But I think there's an interesting forward-looking narrative here.
00:23:22.799 --> 00:23:41.920
Frank talked about it, and Doug Colquit on stream talked about it, which is that it gives crypto this sort of uniting mission, industry-wide uniting mission, once again, that we are going to work to be on the front lines of the basically the future of cryptography, once again.
00:23:42.079 --> 00:23:44.000
The entire world desperately needs this.
00:23:44.160 --> 00:23:56.400
We have massive multi-trillion dollar financial incentive to solve this and to protect our coins, and we are going to become the forefront of cryptography once again.
00:23:56.640 --> 00:24:16.000
And I think the thing that separates the crypto AI loser narrative from the SaaS AI loser narrative with cryptography is there is tangible goalposts that crypto can hit to reach and be like, we are now X resistant, we're now quantum resistant, we're now AI, like whatever it is.
00:24:16.079 --> 00:24:19.839
There's goalposts that can be hit to say like these things are safe.
00:24:20.000 --> 00:24:29.440
Okay, and you get this sort of North Star of perfect DeFi, perfect smart contract, immutable, uncrackable crypto.
00:24:29.680 --> 00:24:33.519
It's almost this wall of worry future you can look forward to.
00:24:33.599 --> 00:24:35.599
That to me, that fires me up.
00:24:35.759 --> 00:24:43.920
Okay, it brings me back to this clip of Doug from a couple days ago when he was on stream, and he basically references perfect smart contracts.
00:24:44.160 --> 00:24:50.960
But like the the whole idea is like formal verify, and they're like doing this with Zcash now, um, with like the shield up the new shield of pools.
00:24:51.119 --> 00:24:53.440
Um, that's just like huge from a security standpoint.
00:24:53.519 --> 00:24:58.000
And like, so far in trip you're right, the security risk isn't like cryptography breaking, it's like these smart contract packs.
00:24:58.160 --> 00:25:05.920
Um, so I like I'm I'm super excited about like AI can do like formal verification, and like writing formal verification before is just like so tedious and so long, like humans couldn't do it.
00:25:06.000 --> 00:25:13.039
Um, like we're already like doing stuff now where like I should put like a little AMM contract out on EVM, which is like purely in lean.
00:25:13.119 --> 00:25:15.119
Um, so formally verified, like all of that stuff.
00:25:15.200 --> 00:25:17.119
So I I think it's like security perspective.
00:25:17.200 --> 00:25:20.480
I think it is possible we get like quote unquote perfect security because of AI.
00:25:20.640 --> 00:25:23.519
Wow, perfect security because of AI built by crypto.
00:25:23.680 --> 00:25:25.119
It's sort of a wild thought.
00:25:25.359 --> 00:25:40.640
And so what I think happens here, if I had to be a betting predicting man, which I am, is that there will be some doom and gloom about, you know, AI is gonna crack cryptography and it will force some coins to be volatile.
00:25:40.799 --> 00:25:47.119
We're gonna have to cover every time OpenAI comes out with a new blog post about math advancements.
00:25:47.359 --> 00:25:48.720
People are gonna panic a little bit.
00:25:48.960 --> 00:26:00.960
But if it doesn't happen and there aren't these massive exploits, these massive tech breakdowns over the next couple months, which is what Justin Drake predicted, which they're you know, 99% won't be.
00:26:01.200 --> 00:26:08.240
People are gonna start to shift, and we're gonna shift to blog posts aren't enough, just like they weren't enough for SAS.
00:26:08.640 --> 00:26:10.480
We're gonna need to actually see it.
00:26:10.640 --> 00:26:23.920
And you all of a sudden get this golden wall of worry narrative to climb higher, that a coin could become you know AI resistant, it could become perfect cryptography, it could it could become perfect DeFi.
00:26:24.000 --> 00:26:33.519
And the first coin to get labeled, you know, AI resistant, perfect cryptography, the ceiling on that is in it's infinite.
00:26:34.000 --> 00:26:41.759
It's infinite, and unlike SAS, I believe that there is a goalpost that can like a tangible goalpost you can hit.
00:26:42.240 --> 00:26:47.680
And on the other side of that, it's I mean, one of the most valuable code bases in the world in the world.
00:26:47.920 --> 00:26:50.720
And so what we're gonna do tomorrow is I have a panel.
00:26:50.960 --> 00:27:00.319
The founder of Nier, Mert, and ZK Dragon, who allegedly is like the smartest cryptographer in in the world, they're all gonna come on stream tomorrow.
00:27:00.400 --> 00:27:16.240
We're gonna do a panel also with Tulip King, and we are basically gonna talk about what these goalposts are, how we're gonna know when we hit them, and what you know, perfect cryptography looks like, or AI resistant cryptography.
00:27:16.319 --> 00:27:18.079
What does that actually look like?
00:27:18.480 --> 00:27:25.039
Because I do believe this is in my novice understanding of how this works, that this is possible.
00:27:25.279 --> 00:27:32.160
And it's to me, it's the ultimate wall of worry to climb where you could get some of these.
00:27:32.240 --> 00:27:36.720
I mean, you could put a price target on that as like whatever you want.
00:27:36.880 --> 00:27:42.480
You know, it's like the perfect cryptography against the you know cryptographic killing machine.
00:27:42.640 --> 00:27:43.359
Who wins?
00:27:43.599 --> 00:27:44.640
Let's find out.
00:27:44.960 --> 00:28:01.680
But I wanted to just bring it back whenever we see a scary blog post to what happened with SAS and how it played out, where blog posts can do a lot of damage to the to this like schizo market, but they aren't everything because eventually you just dis you need results.
00:28:01.839 --> 00:28:06.480
There's too much money on the line to have no results, and so that's my thought process.
00:28:06.640 --> 00:28:12.720
That's what I think about how this probably plays out with crypto, and that's what I think.
00:28:12.960 --> 00:28:14.319
Yesterday was a scary one.
00:28:14.400 --> 00:28:14.799
I know.
00:28:15.119 --> 00:28:18.799
Korea session was terrifying, and the stock market opens in 15 seconds.
00:28:18.880 --> 00:28:21.759
As always, it is powered by Phantom Wallet.
00:28:21.920 --> 00:28:25.599
It's powered by Phantom because anything you see in this segment, anything you want to buy, sell, trade.
00:28:25.680 --> 00:28:28.960
If you could trade it, you can trade it on Phantom Wallet.
00:28:29.039 --> 00:28:31.039
It's gonna be a big one, it's gonna be a great one.
00:28:31.200 --> 00:28:37.039
We have a lot to cover and let's let's go! Let's go, let's go.
00:28:37.200 --> 00:28:42.480
It's oh bam! The SPX opens down 0.06.
00:28:42.799 --> 00:28:43.839
Um, all right, what do we got?
00:28:44.079 --> 00:28:45.279
SPX down 0.06.
00:28:45.359 --> 00:28:48.000
Uh, looks like a giga, giga, giga, giga fade for me.
00:28:48.079 --> 00:28:51.039
The Nasdaq 100 is up 0.75.
00:28:51.680 --> 00:28:58.000
Um, the Dow is up 0.7, photonics, ETF is down 2.5, NeoClouds are down 5.5.
00:28:58.160 --> 00:29:00.400
Mags are up 0.2.
00:29:00.960 --> 00:29:03.440
Dram is down six, soxel is down 10.
00:29:03.519 --> 00:29:04.559
Holy fuck.
00:29:04.799 --> 00:29:05.200
Dog.
00:29:05.680 --> 00:29:06.880
Geez, man.
00:29:07.119 --> 00:29:07.759
Look at this.
00:29:07.839 --> 00:29:09.119
Look at look at DRAM.
00:29:09.440 --> 00:29:10.079
Ugh.
00:29:10.240 --> 00:29:14.400
Um, Bitcoin is green on the open 83.3.
00:29:15.119 --> 00:29:18.400
All things considered, man, it is not that bad.
00:29:18.640 --> 00:29:25.279
Bitcoin 833, Zec 1200, ETH 2500, hype 81, lighter.
00:29:25.519 --> 00:29:27.279
Man, I should have held that lighter short, huh?
00:29:27.440 --> 00:29:30.720
Jeez, lighter 3.3 is nuts.
00:29:30.960 --> 00:29:32.880
Near five, pump five.
00:29:32.960 --> 00:29:35.039
I closed my pump short the other day, plus 14k.
00:29:35.119 --> 00:29:35.759
That was a fun one.
00:29:36.000 --> 00:29:42.240
Purr is down two, souls up one, 30 years down one, 10 years down 0.75, 2 years flat.
00:29:42.400 --> 00:29:50.000
Vixes up one, gold is up 0.35, XRP is up two, Monero's up one, and copper is down 0.25.
00:29:50.400 --> 00:29:52.240
Brent's down one, crude's down one.
00:29:52.799 --> 00:29:54.160
God, is this gonna be bad?
00:29:54.319 --> 00:29:55.359
Yeah, it is.
00:29:56.079 --> 00:29:57.599
All right, biggest losers.
00:29:57.759 --> 00:30:01.519
SK Heinex was down 10% yesterday.
00:30:01.680 --> 00:30:03.279
Flood is gigabarish, brother.
00:30:03.519 --> 00:30:08.480
ASTS is down seven, Marvell's down five and a half, Micron is down five and a half.
00:30:08.559 --> 00:30:12.559
Okay, Heinex ADR after being down ten yesterday is down five and a half.
00:30:12.799 --> 00:30:32.319
Bloom five, arm four, del three, Santa's down four and a half, AMD's down three and a half, Lumentum's down three, rock left's at three and a half, firefly three and a half, Nokia three, Intel two and a half, SpaceX is down two and a half, Shaw's down three and a half, red wire is down three, Tesla's down one point five, Nvidia's down one, Cerebrus is down one.
00:30:32.720 --> 00:30:33.759
God, this is gnarly.
00:30:33.839 --> 00:30:47.680
Broadcom 1.5, Snowflake down one, Blackberry down 1.5, uh, meta is flat, Amazon's down are up 0.3, Oracle's down 0.5, Google's up 0.5, IBM is green, Microsoft's up one, Apple's up two.
00:30:48.079 --> 00:30:49.759
Not on that announcement, is it?
00:30:50.000 --> 00:30:50.319
Really?
00:30:50.480 --> 00:30:52.160
On the Apple home thing?
00:30:52.480 --> 00:30:53.920
No, surely not.
00:30:54.079 --> 00:30:57.200
Bitcoin 83, back 1190.
00:30:57.359 --> 00:31:03.759
If you're curious where I capitulated, I capitulated my leverage at 1150 and my spot at 1125.
00:31:04.160 --> 00:31:08.079
Um, obviously lower than this, but not that much lower.
00:31:08.480 --> 00:31:12.079
And pump falls back under 0.005.
00:31:13.119 --> 00:31:18.000
All right, consumer side AMC biggest gainer up 4.5.
00:31:18.480 --> 00:31:24.319
Fisa's up three, service now is up two, Lulu's up two, Figma's up two, Nike is up 1.5.
00:31:24.559 --> 00:31:24.799
Wow.
00:31:25.039 --> 00:31:26.880
Airbnb one, Disney one, sweet green.
00:31:27.039 --> 00:31:27.920
What happened to the Disney guy?
00:31:28.079 --> 00:31:29.119
Used to be here all the time.
00:31:29.359 --> 00:31:31.119
Let's see, biggest losers.
00:31:31.759 --> 00:31:35.519
Nebus is down five and a half, him's down five and a half.
00:31:35.599 --> 00:31:40.319
Iran is down five and a half, Cory down four, Shopify down two, Roblox down one.
00:31:40.400 --> 00:31:41.039
Where's Unity?
00:31:41.119 --> 00:31:41.839
Circle's down two.
00:31:42.000 --> 00:31:42.640
Where's Unity?
00:31:42.880 --> 00:31:50.799
Green, I lost 0.3% on the daily for unity.
00:31:50.880 --> 00:31:52.720
I fucking love this coin, dude.
00:31:52.960 --> 00:31:53.440
The stock.
00:31:54.000 --> 00:31:54.640
I love it.
00:31:54.799 --> 00:31:55.200
I love it.
00:31:55.279 --> 00:31:56.319
Look at it, look at it, dude.
00:31:56.400 --> 00:31:57.039
Look at that chart.
00:31:57.680 --> 00:32:00.319
Um, eBay is up 0.4.
00:32:00.880 --> 00:32:12.960
I heard a pretty good eBay thesis today, or yes, two couple two days ago, which was long eBay into earnings because Pokemon card sales growth is not priced in because it all happens on eBay.
00:32:13.039 --> 00:32:14.160
And I thought, man, you know what?
00:32:14.240 --> 00:32:15.599
That's not a bad thesis.
00:32:16.240 --> 00:32:19.759
The problem is this company is just bloated disaster.
00:32:19.920 --> 00:32:22.400
I've heard Ryan Cohen talk so much shit about eBay.
00:32:22.559 --> 00:32:28.720
It makes me feel like it's hard to buy, but that's not a bad thesis at all that that is not priced in.
00:32:28.960 --> 00:32:34.160
It kind of reminds me of Robin Hood chain pumping Robin Hood or something like this.
00:32:34.640 --> 00:32:34.960
Yeah, right.
00:32:35.440 --> 00:32:37.759
Especially at this at this level that it's at right now.
00:32:37.839 --> 00:32:41.839
It reminds me of Robinhood Chain pumping Robin Hood stock 20 or whatever in a day.
00:32:42.079 --> 00:32:43.119
Very interesting thesis.
00:32:43.279 --> 00:32:45.759
So eBay's up one today, stub hub is up one.
00:32:46.319 --> 00:32:52.160
Um IGV is up one, and then nothing else we really care about here.
00:32:52.319 --> 00:32:53.359
Bitcoin 835.
00:32:53.680 --> 00:32:54.799
Not fucking bad.
00:32:54.960 --> 00:32:55.359
Not bad.
00:32:55.519 --> 00:32:56.400
Zach 1200.
00:32:56.640 --> 00:32:57.920
All right, altcoins.
00:32:58.480 --> 00:33:28.240
Pepe leads up seven, Gito's up seven, uni's up six, um, serup is up five, arb's up four, Zek is up four, bear is up three, Penguins up three, air jum up three, Tao is up two, one point five, Avax up two, Monad's up one, biggest losers, kinetics down ten, grass down seven, layer's here down two, galaxy on two and a half, Venice basically flat down 0.25, lighter basically flat.
00:33:28.400 --> 00:33:29.839
I'll tell you what though, man.
00:33:29.920 --> 00:33:41.119
If this thing got back above like 86, 87 with the ultimate doom, gloom narrative in the charts, all of a sudden you would start to feel like holy fuck.
00:33:41.440 --> 00:33:43.759
Really, like holy fuck, man.
00:33:44.000 --> 00:33:45.839
Maybe we are just the chosen ones.
00:33:46.000 --> 00:33:53.599
I also think crypto Twitter right now is so ridiculously useless, it's not even funny.
00:33:53.839 --> 00:34:02.240
It's kind of it's like relatively entertaining to read Chumba and these guys because they're funny, but it's so useless right now.
00:34:02.319 --> 00:34:03.759
I I have no words.
00:34:04.160 --> 00:34:05.039
That's the other thing.
00:34:05.119 --> 00:34:08.320
You take three days off and you think to yourself, I should never open this app again.
00:34:08.480 --> 00:34:09.840
I should never use it again.
00:34:10.000 --> 00:34:13.039
It is like so unusable right now.
00:34:13.199 --> 00:34:18.320
I it's so unusable this app, but that's not the point of where we're at.
00:34:18.400 --> 00:34:21.360
So 853 sec 1200.
00:34:21.440 --> 00:34:23.360
Uh, do I even check on chain?
00:34:23.599 --> 00:34:23.920
Really?
00:34:24.320 --> 00:34:25.360
Do I even look?
00:34:25.760 --> 00:34:26.480
Pawns.
00:34:26.639 --> 00:34:28.480
I was just early on my short.
00:34:28.960 --> 00:34:30.159
I really just was.
00:34:30.480 --> 00:34:32.320
Stonk somehow is worse.
00:34:32.639 --> 00:34:35.360
FWA is somehow worse than both.
00:34:35.679 --> 00:34:38.079
Boner is nope, this one's the worst.
00:34:38.239 --> 00:34:38.559
Wow.
00:34:38.800 --> 00:34:39.280
Z cat.
00:34:39.599 --> 00:34:40.559
Okay, not bad.
00:34:40.880 --> 00:34:44.639
Car, I capitulated cards, but I love this coin so much.
00:34:45.039 --> 00:34:45.840
Oh, I love it.
00:34:46.320 --> 00:34:46.880
What do we got?
00:34:47.039 --> 00:34:48.719
Mars coin death.
00:34:48.960 --> 00:34:50.639
Useless kind of death.
00:34:51.199 --> 00:34:53.039
Lie is pretty bad too.
00:34:53.280 --> 00:34:55.519
Is there anything like what about IMD?
00:34:55.679 --> 00:34:56.320
Not bad.
00:34:56.480 --> 00:34:57.760
That's a good looking chart.
00:34:58.000 --> 00:34:58.400
Neat.
00:34:58.719 --> 00:34:59.920
All right, let's talk about this.
00:35:00.400 --> 00:35:08.800
This coin has gotta be up there with the most cursed on-chain coin in history of on-chain coins.
00:35:09.119 --> 00:35:13.280
Imagine you get the narrative, like the narrative, the perfect narrative.
00:35:13.519 --> 00:35:23.199
The perfect coin, the board sit meme, the wick, new chain, Vlad Teneth goes all in, massive UP and L's, nobody wants to sell.
00:35:23.280 --> 00:35:27.679
You get the perfect storm and you get vamped by the president.
00:35:27.920 --> 00:35:41.199
Not only does he say we're no longer using the term artificial intelligence, but if you use the term artificial intelligence, you are an enemy of the United States of America, the most powerful powerful military in the world.
00:35:41.360 --> 00:35:44.079
You are an enemy of the state.
00:35:44.480 --> 00:35:48.639
If you use the word AI unironically, it's like, what?
00:35:48.880 --> 00:35:49.920
It's almost think, man.
00:35:50.159 --> 00:35:51.280
I was thinking about the other day.
00:35:51.440 --> 00:36:02.079
Like, my problem, my actual main problem with meme coins, my my my main just grip, gripe, grip with meme coins is that it people don't appreciate this enough.
00:36:02.320 --> 00:36:07.199
How perfect the conditions have to be for a meme coin to go really high.
00:36:07.519 --> 00:36:18.480
People do not give enough credit for how many things have to go right in a row for a meme coin to get to 50 mil, 100 mil.
00:36:18.559 --> 00:36:25.039
Like how absolutely perfect everything has to be, and how many things you can get vamped?
00:36:25.119 --> 00:36:26.800
You can get vamped on a million chains.
00:36:26.880 --> 00:36:38.079
The dev can launch a second coin, random shit like oil going high, bitcoin flash crash, Zcash flash crash, or even bet, even better, Garrett Bullish gets rage baited.
00:36:38.239 --> 00:36:43.840
He posts a Zcash position that causes a Z cash flash crash that causes the Bitcoin flash crash.
00:36:44.079 --> 00:36:59.840
Yield, like there's so many things, or just new coin, new narrative, new thing gets hot, steals all there's so many things that can vamp your meme coin that for them to for anything in these conditions to go high, it's like a miracle.
00:37:00.079 --> 00:37:12.719
And so from that perspective, the guys that make a lot of money on meme coins, and when they do, like if you have a monster trade, like if you hit um Malcolm's super intelligence, super Enu trade, you gotta kind of just like tip your cap.
00:37:13.760 --> 00:37:17.519
Because there's just like so many ways to lose.
00:37:17.599 --> 00:37:20.079
And if you don't, I just feel like you're good.
00:37:20.159 --> 00:37:20.639
I don't know.
00:37:20.719 --> 00:37:24.079
Like, I feel like sometimes beam coin traders don't get enough credit, really.
00:37:24.239 --> 00:37:25.280
Um, all right, let's do this.
00:37:25.360 --> 00:37:26.159
Let's switch it up a little bit.
00:37:26.239 --> 00:37:27.360
We're gonna do basic and z articles.
00:37:27.519 --> 00:37:28.400
Anyone read it?
00:37:28.719 --> 00:37:31.199
We got a new base 16 article.
00:37:31.280 --> 00:37:31.920
Has anyone read it?
00:37:32.000 --> 00:37:32.559
Has anyone read it?
00:37:32.639 --> 00:37:33.280
Has anyone read it?
00:37:33.360 --> 00:37:34.159
Has anyone read it?
00:37:34.239 --> 00:37:37.280
He's coming on Thursday.
00:37:37.440 --> 00:37:40.559
It's really short, but it is pretty good.
00:37:40.639 --> 00:37:41.599
It's super short.
00:37:41.679 --> 00:37:44.559
It's it might be my least favorite based article, but it's good.
00:37:44.719 --> 00:37:46.480
Um, all right, mused.
00:37:46.639 --> 00:37:53.840
I met a gentleman in southern Arizona this week who owns a selection of local businesses of varying quality and a huge house with a pool.
00:37:54.079 --> 00:38:00.320
He's dated half the Sun's cheerleading team as a primary but not unfulfilled goal.
00:38:00.480 --> 00:38:04.079
There are no walkable roads, and every billboard is a political advertisement.
00:38:04.239 --> 00:38:10.320
But in a global market, you need noise and scale and beating the hell out of the other guy in the polls.
00:38:10.480 --> 00:38:12.800
You need more than Arizona voters.
00:38:13.360 --> 00:38:20.480
The purpose of marketing on X, the Everything app, has nothing to do with reaching customers.
00:38:20.719 --> 00:38:26.159
It's about selling shares at high prices to venture capitalists and retail investors.
00:38:26.480 --> 00:38:34.880
Bodded launch posts, Alexander Wang tweeting memes, down 40% year to date, mandatory David Senra interview.
00:38:35.119 --> 00:38:39.440
Um, Zuckerberg hired a PM for investor relations.
00:38:39.679 --> 00:38:41.519
Semi-analysis has a Drake video.
00:38:42.000 --> 00:38:52.159
Michael Saylor maximalizes this print shares for the indices, retail call buyers, convertible bond, arbitrage, arbitrage desks, and whoever else will buy them.
00:38:52.320 --> 00:38:54.239
Funnel cash into a hard asset.
00:38:54.480 --> 00:38:58.320
Bending spoons announced air table layoffs on X today as rage bait.
00:38:58.400 --> 00:38:58.960
I missed that.
00:38:59.119 --> 00:39:06.559
Millions of impressions converting investors at 1.5% towards checking BSP on TradingView.
00:39:07.119 --> 00:39:11.760
This new marketplace of ideas ensures the death of legacy brands.
00:39:11.920 --> 00:39:15.599
Nike, Starbucks, Lululemon, down only.
00:39:15.920 --> 00:39:19.280
Nobody has a persistent brand identity or favorites.
00:39:19.440 --> 00:39:23.840
They don't remember Jordan playing, they don't remember the basketball game from three days ago.
00:39:24.000 --> 00:39:30.880
You're competing with a marketplace of 800 micro micro brands fighting in the trenches of meta ads.
00:39:31.039 --> 00:39:39.840
One just discovered Kendall Jenner's third best friend from high school's new YouTube channel via a Grockbot and sent her a free pair of shoes.
00:39:40.000 --> 00:39:42.480
The new Uncanny Valley, this X account.
00:39:42.719 --> 00:39:44.719
There's no more individual anymore.
00:39:44.800 --> 00:39:45.920
It's just the hive.
00:39:46.000 --> 00:39:46.880
What's the X account?
00:39:47.119 --> 00:39:47.920
Nomad Maker.
00:39:48.000 --> 00:39:48.320
What is this?
00:39:48.480 --> 00:39:50.400
Getting better at New Uncanny Valley.
00:39:50.480 --> 00:39:51.039
What is this?
00:39:51.199 --> 00:39:53.199
Getting better at doing things just by doing things.
00:39:53.599 --> 00:39:56.079
Lead forward developer engineer railblocks.
00:39:56.239 --> 00:39:57.280
I missed this actually.
00:39:57.440 --> 00:39:58.880
Wait, what's the lore on this?
00:39:59.039 --> 00:40:02.559
I don't get this part, but this is a take I really like.
00:40:02.800 --> 00:40:06.559
This I feel like is extrapolated into trade ideas, by the way.
00:40:06.719 --> 00:40:08.800
Nobody has a persistent trade idea.
00:40:09.039 --> 00:40:11.199
Nobody has a favorite trade idea.
00:40:11.280 --> 00:40:13.199
It changes every three days.
00:40:13.440 --> 00:40:14.880
It changes every hour.
00:40:15.039 --> 00:40:16.320
It changes every week.
00:40:16.480 --> 00:40:18.480
The trade of the week changes every week.
00:40:18.639 --> 00:40:29.360
The trade of the hour, the trade of the minute, the coin of the day, the on-chain favorite, the chain favorite, the altcoin favorite, the privacy favorite, the perp decks favorite.
00:40:29.440 --> 00:40:32.320
It feels like it changes every fucking minute.
00:40:32.639 --> 00:40:45.440
It's a pretty good point about Lulu and legacy brands as well, is that I feel as if I more than ever now I'm consuming stuff that I don't even really know what like where it came from.
00:40:45.599 --> 00:40:48.559
Where like I get I get a lot of where where where are your pants from?
00:40:48.639 --> 00:40:50.559
I'm like, I don't even know where my pants are from.
00:40:50.960 --> 00:40:52.239
It used to just be Nike.
00:40:52.480 --> 00:40:53.840
Where where are my pants from?
00:40:54.559 --> 00:40:56.239
I don't know, actually.
00:40:56.639 --> 00:40:57.599
Like, where are your boot?
00:40:57.840 --> 00:41:01.519
What I bought these really fresh, like black loafers the other day.
00:41:01.599 --> 00:41:02.639
They're expensive.
00:41:02.880 --> 00:41:04.000
No idea where they're from.
00:41:04.159 --> 00:41:04.880
No clue.
00:41:05.039 --> 00:41:09.119
Because all of these stores, by the way, are like arbitrage stores.
00:41:09.280 --> 00:41:10.480
It's like Nordstrom.
00:41:10.559 --> 00:41:14.079
It's like they sell every store now sells nine different brands.
00:41:14.320 --> 00:41:17.039
So I bought one of the random brands in the in the store.
00:41:17.119 --> 00:41:18.639
I have no, I don't even know where they're from.
00:41:18.960 --> 00:41:19.440
Never heard of it.
00:41:19.519 --> 00:41:21.519
I have no, I've taken them off and I'm looking at it.
00:41:21.679 --> 00:41:26.719
Every store is like an arbitrage collect collective of we sell everything.
00:41:26.800 --> 00:41:32.960
We sell like vintage, we sell designer, we got Dior in here, we got some cuddy brands in here.
00:41:33.199 --> 00:41:35.280
Everything is like a collection of everything.
00:41:35.519 --> 00:41:41.599
And so I find myself more than ever not even really knowing where my shit is from.
00:41:41.760 --> 00:41:43.599
I don't even know where my stuff is from.
00:41:43.840 --> 00:41:44.719
Think about it though.
00:41:44.800 --> 00:41:53.599
You dude, my fate, my the we have me and Malcolm this new favorite store in New York, and it's not a brand, it's just like a store, and they have brands in the store.
00:41:53.760 --> 00:41:59.119
And so I'm not even really looking, I just checked out, checked out, checked it out, and I'm like, oh yeah, wait, what what brand is this?
00:41:59.280 --> 00:42:00.480
Would like to see it again.
00:42:00.639 --> 00:42:02.880
Everything is everything, it feels like.
00:42:02.960 --> 00:42:14.880
And it feels like the same thing is true in trade ideas in the market, where like the biggest threat to Zcash or any coin is not it not delivering on the thesis or it not playing out.
00:42:14.960 --> 00:42:18.159
It's like some other thing gaining the spotlight.
00:42:18.320 --> 00:42:25.199
That's the big it's getting vamped by some other thing, like some new cool thing that comes out every five hours, vamping it.
00:42:25.360 --> 00:42:29.119
I know department stores have been around, but it's like the department storification of everything.
00:42:29.360 --> 00:42:29.840
Facts.
00:42:30.000 --> 00:42:39.519
Like how, dude, I tell me if I'm wrong about this, but my purchase frequency of Instagram ads is up substantially in the last year.
00:42:39.920 --> 00:42:40.639
One to two years.
00:42:40.719 --> 00:42:41.840
It's up substantially.
00:42:42.000 --> 00:42:44.159
The amount of things that I buy on an Instagram ad.
00:42:44.320 --> 00:42:46.719
The checkout flow is the smoothest it has ever been.
00:42:46.880 --> 00:42:53.440
It takes two clicks to get from to get from ad to Apple Pay to double tap, four clicks.
00:42:53.679 --> 00:42:58.079
Click the ad, click checkout, pay with Apple Pay, five clicks, you're done.
00:42:58.159 --> 00:42:59.039
I'm done.
00:42:59.360 --> 00:43:04.880
And my yeah, my consumption of of Apple Pay is like the highest it's ever been.
00:43:04.960 --> 00:43:06.159
Or uh Instagram ads.
00:43:06.239 --> 00:43:07.599
It's the highest it's ever been by far.
00:43:07.679 --> 00:43:09.519
Like it's going, it's going up substantially.
00:43:09.679 --> 00:43:10.480
Really, it is.
00:43:10.639 --> 00:43:11.679
It's nuts.
00:43:12.000 --> 00:43:16.800
Um, so I I like the based 16Z article.
00:43:16.960 --> 00:43:18.239
Um, all right, I'm leaving.
00:43:18.320 --> 00:43:18.800
I gotta go.
00:43:18.880 --> 00:43:19.679
I'll be back tomorrow.
00:43:19.760 --> 00:43:21.280
We got a fucking cryptography stream.
00:43:21.440 --> 00:43:23.760
I know you don't want to do come here for it, but you gotta come here for it.
00:43:23.840 --> 00:43:25.280
You just gotta do it.
00:43:25.360 --> 00:43:26.000
It is what it is.
00:43:26.159 --> 00:43:26.559
I love you.
00:43:26.639 --> 00:43:27.199
I appreciate you.
00:43:27.280 --> 00:43:28.000
I'll be here tomorrow.
00:43:28.079 --> 00:43:28.719
It's an important one.
00:43:28.800 --> 00:43:29.599
You gotta just do it.
00:43:29.760 --> 00:43:32.559
Just fucking deal with it, lock in, get it done.
00:43:32.719 --> 00:43:33.119
Let's go.
