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Speaker 1: Coach, the energy out there felt different. What changed for

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Speaker 1: the team today?

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Speaker 2: It was the new game day scratches from the California

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Speaker 2: Lottery players.

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Speaker 3: Everything. Those games sent the team's energy through the roof.

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Speaker 1: Are you saying it was the off field play that

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Speaker 1: made the difference on the field.

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Speaker 3: Hey, little play makes your day, and today it made

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Speaker 3: the game. That's all for now, coach, one more question.

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Speaker 1: Play the new Los Angeles Chargers, San Francisco forty nine

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Speaker 1: ers and Los Angeles Rams scratchers from the California Lottery.

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Speaker 1: A little play can make your day. Peace made responsibilit

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Speaker 1: must be eighteen years or older to purchase late or

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Speaker 1: claim well.

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Speaker 4: I mentioned I was buying the dot Eath domains pretty

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Speaker 4: much like Go Daddy of Web three. I had manfucking

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Speaker 4: coins and I said, well, what's the value of these coins?

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Speaker 4: And you know, when you register your coins, there's like

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Speaker 4: an official registry and then they peg a value. Value

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Speaker 4: was seventeen dollars per I only spent three grand on

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Speaker 4: the domains? Is it true that this shit has war

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Speaker 4: seventeen thousand? I sold all the coins and I took

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Speaker 4: the cash out. When's the last time Go Daddy gave

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Speaker 4: you anything for owning a dot com.

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Speaker 2: My graduates from my SKO being forced back drop b drop,

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Speaker 2: Mike drop backdrop.

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Speaker 5: If y'all love E y L, I need you to

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Speaker 5: make some noise please. I got my guy John Henry.

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Speaker 5: Y'all know John.

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Speaker 3: Legend, buster Ship. If you're a true E y L you.

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Speaker 5: Know he was the first person on our platform to

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Speaker 5: speak about n f T S for anybody else. That's

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Speaker 5: a very little known secret, so only the diehard E

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Speaker 5: y L fans know about that.

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Speaker 3: But we got a jam Pat Day for you, guys. Man.

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Speaker 5: We got these two legends right now, My brother Troy,

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Speaker 5: he's coming on next with the one and only Master Investor.

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Speaker 3: He and Dounlap Wall Street Trapper we got.

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Speaker 5: We got the O g Be's gonna come a town,

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Speaker 5: DJ Michael Watts. Of course my god Tolby Wigway Legend

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Speaker 5: Legure themself.

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Speaker 3: So you know it's a vive man.

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Speaker 5: Shout out to Ally, shout out to our partners at

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Speaker 5: United Masters. Every time we get together, we make magic happen.

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Speaker 5: So just want to thank you guys for coming out.

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Speaker 5: Were about to get it to it. Let's do it.

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Speaker 3: All right, So the moment you've all been waiting for.

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Speaker 5: This is a conversation that I'm excited to actually ask

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Speaker 5: to host this panel because I felt like this is

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Speaker 5: something that we don't get a chance to talk about

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Speaker 5: a lot. We talk about stocks, a lot, real estate

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Speaker 5: a lot, and I love I love both of those.

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Speaker 5: But you know, I get into a whole different vibe

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Speaker 5: when we talk about NFTs, crypto and Web three point

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Speaker 5: zero and this is what we you know, we're in

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Speaker 5: the future, So we're in the future now, so it's

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Speaker 5: important to educate ourselves and know what's going on. So

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Speaker 5: John Henry really needs no introduction, but I'll give one.

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Speaker 5: He actually is based in Austin now from New York,

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Speaker 5: co founder of Harlem Capital, Legendary hallm Capital for Black Brothers. Yeah,

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Speaker 5: give it a clap for that. That started the legendary

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Speaker 5: venture capital firm. Then now what he's doing now is

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Speaker 5: the CEO of Loop Loop Car Insurance. So Loop Car

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Speaker 5: Insurance has revolutionized the car insurance industry. And we got

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Speaker 5: to thank him because he gave us our opportunity for

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Speaker 5: our first angel investment, our first ever angel investment was

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Speaker 5: into his career.

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Speaker 3: Yes, sir, I appreciate you. I appreciate you. For that.

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Speaker 3: Sean Henry's a whiz kid.

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Speaker 5: Man knows everything when it comes to the you know,

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Speaker 5: valuations and selling the company and all of this stuff.

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Speaker 5: Man extremely extremely smart guy. And then Buster Shire, like

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Speaker 5: I said, if you don't if you don't know, you

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Speaker 5: should check his episode out, episode one thirty of EYL.

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Speaker 5: Last April. We spoke and Buster he's a whiz kid

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Speaker 5: for real. Twenty one years old. He's the founder of

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Speaker 5: hoop Nation, which is an Instagram page has one million followers,

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Speaker 5: five million followers on TikTok. He is the voice of

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Speaker 5: the Crew League on Revolt, and he's an avid NFT investor.

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Speaker 5: He actually we talk about it, but he spoke save it.

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Speaker 5: I'll save it for later. But he If you listen

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Speaker 5: to his episode and actually did some of the things

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Speaker 5: that he said, you made a lot of money. If

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Speaker 5: you didn't, then shames on you. But first and foremost,

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Speaker 5: thank you guys. I appreciate it absolutely, absolutely.

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Speaker 3: Yo.

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Speaker 4: First things first, every time I'm proud of this one,

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Speaker 4: every time I've jumped on the EYL platform, I've first

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Speaker 4: started by paying respect to the brothers at EYL, because

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Speaker 4: it wasn't that long ago when someone got me hooked

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Speaker 4: up with them episode forty five, and I pulled up

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Speaker 4: to Troy's crib in like yonkers in their living room,

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Speaker 4: and they was talking about doing really big things. And

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Speaker 4: I don't know if y'all been keeping up, but they've

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Speaker 4: been doing some really big things. So I'm gonna need

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Speaker 4: Jah to make some noise for Ernie Leisure because every

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Speaker 4: generation we have a couple of superstars that emerge, and

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Speaker 4: this is that time right now with these brothers.

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Speaker 5: So so agreed. Appreciate that, brother, So let's get into this.

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Speaker 5: So Bust, I'm gonna start with you. Let's start with

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Speaker 5: this NFT conversation. So if you listen to his episode

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Speaker 5: when he came on in April, he talked about crypto punks,

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Speaker 5: he talked about board Apes, he talked about open Sea,

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Speaker 5: and that was early crypto punks.

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Speaker 3: How much was it at that time?

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Speaker 6: So the floor of crypto punks was about twenty thousand

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Speaker 6: at the time, it's about two hundred thousand now and

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Speaker 6: board Apes was had just minted and they minted at

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Speaker 6: point zero eight eighth and now it's at about three

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Speaker 6: hundred thousand dollars.

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Speaker 3: See, all you got to do is listen.

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Speaker 5: So let's let's back it up because I still feel

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Speaker 5: like a lot of people don't fully understand what what

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Speaker 5: NFTs are. So before we go into two and depth,

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Speaker 5: can we just go up with some basic terms. When

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Speaker 5: you when you talk about a floor, right, can you

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Speaker 5: explain to them what a flow in an NFT project is.

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Speaker 6: Yeah, So a floor of an NFT project is essentially

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Speaker 6: the cheapest that you can buy, said NFT FO. Usually

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Speaker 6: projects have between five thousand and ten thousand total supply.

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Speaker 6: The best ones will be the highest and the worst

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Speaker 6: per se will be at what.

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Speaker 3: Is the floor? Which is the cheapest you can get

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Speaker 3: one for? So minting, what is minting?

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Speaker 6: Minting is getting it when it first comes out, so

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Speaker 6: you're the first person to own it, and you have

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Speaker 6: to pay gas to actually receive it from wherever they

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Speaker 6: put it out initially from and usually it's a it's blind,

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Speaker 6: so you don't know which one you're going to get.

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Speaker 6: So you're minting an NFT in a project. You know

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Speaker 6: you're going to get one from the project, but you

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Speaker 6: don't know which one you're going to get.

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Speaker 3: That is minting. Well, somebody says they pulled the rug,

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Speaker 3: what was them?

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Speaker 6: So a rug is essentially when somebody launches a project,

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Speaker 6: makes all these promises and then doesn't fulfill those promises.

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Speaker 6: That is what's called getting rugged, which is when a

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Speaker 6: founder just leaves the project entirely. Similar to where in

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Speaker 6: like a traditional business standpoint, if somebody took a bunch

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Speaker 6: of investment and then said, I don't really care about

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Speaker 6: this company anymore.

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Speaker 3: So all right, now you got some basic terms.

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Speaker 4: Let me also paint a little context, because I feel

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Speaker 4: like this NFT shit kind of came out of nowhere.

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Speaker 4: I don't know if you guys agree, but I'm seeing

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Speaker 4: Heineken and Budweiser and a lot of corporates now. I

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Speaker 4: like to pay attention to big money because they don't

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Speaker 4: do shit for the fun of it. They do it

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Speaker 4: because there's money to be made. And it wasn't that

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Speaker 4: long ago that some of the first projects were emerging. Now,

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Speaker 4: I had long since been following crypto and people was

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Speaker 4: talking about yo by you know, bitcoin all other stuff,

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Speaker 4: and people made a lot of money doing that. But

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Speaker 4: I'm not a currency trader. I'm busy. I run a

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Speaker 4: fifty five person company, you know, and we're trying to

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Speaker 4: change it at financial services. But it's my job as

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Speaker 4: a co SEO to pay attention to friends. And what

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Speaker 4: happened was a collectible layer came emerged on top of

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Speaker 4: the cryptocurrencies. So now it's not just you trading coins,

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Speaker 4: like trading dollars and pounds. It's like now people made

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Speaker 4: stuff on top of it that you can collect, right.

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Speaker 4: And so if a pop and ass artist, for example,

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Speaker 4: makes a limited collection of a certain type of art,

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Speaker 4: people can buy and sell those and it's really cool

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Speaker 4: for artists, including musicians, because they get a perpetuity of

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Speaker 4: the royalties. So like Boskio, for example, he only sold

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Speaker 4: that art one time and only made money that one time.

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Speaker 4: But now we have a device that allows the artists

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Speaker 4: to collect royalties and perpetuity. And so there's signal and

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Speaker 4: then there's noise. Noises when you can't decipher the value,

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Speaker 4: signals when there's value. So the noise is all the speculation.

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Speaker 4: How these fucking apes were three hundred thousand, I have

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Speaker 4: no clue, but paying attention to the signal, the signal

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Speaker 4: is big corporates moving in the signal is NFTs potentially

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Speaker 4: having more utility beyond just trading apes. It might be

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Speaker 4: the future of how leases are done, the way you

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Speaker 4: buy all different types of things can be NFTs in

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Speaker 4: the future. So I wanted to start this conversation first

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Speaker 4: by contextualizing. I don't want you, guys, don't make the

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Speaker 4: mistake of discarding this. We can't afford to do that

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Speaker 4: as a community. I'm gonna keep it a buck with

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Speaker 4: y'all right now, because the bank consystem done left us

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Speaker 4: out at the FAHA program in nineteen sixty five when

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Speaker 4: it was the single greatest driver of personal wealth in

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Speaker 4: this country. Okay, so we have a new revolution right now,

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Speaker 4: as Rashad was saying, So don't make the mistake to

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Speaker 4: discard this, discard the noise, and pay attention to the signal.

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Speaker 5: That's a fact, ladies and gentlemen, John Henry, waste no time.

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Speaker 5: It's like a heavyweight fighter just came out swinging. So

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Speaker 5: all right, so let me ask you guys this, both

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Speaker 5: of you guys. You can chime in. What's the future

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Speaker 5: of NFTs. Do you think we want to talk about utilities?

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Speaker 5: And you can kind of explain utilities a little bit

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Speaker 5: more if you want. But a lot of projects are

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Speaker 5: starting to, you know, go down in value, like any

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Speaker 5: new emerging industry, like even with crypto a couple of

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Speaker 5: years ago when a lot of coins went to zero.

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Speaker 5: But I always say, like the dot Com era, most

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Speaker 5: of those companies went to zero, Crypto, most of those

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Speaker 5: coins went to zero.

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Speaker 3: But the Internet is still here.

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Speaker 5: Doesn't devalue the Internet, it doesn't devalue cryptocurrency. So what

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Speaker 5: do you feel for the naysayers that says like this

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Speaker 5: is just a one time thing and it's going to

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Speaker 5: be going next year. And how do you feel about

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Speaker 5: utility because that's where I see the value is in

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Speaker 5: more of a utility of projects.

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Speaker 3: Yeah, utility is one hundred percent of value.

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Speaker 6: I think the projects that haven't panned out since you know,

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Speaker 6: we first started talking about NFTs last April are the

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Speaker 6: ones that don't have utility. And the ones that do

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Speaker 6: are those where they actually send you physical things. They

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Speaker 6: give you tokens, they give you a lot of these

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Speaker 6: projects give you digital land where there are these metaverses

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Speaker 6: where they give each holder plots of those land, and

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Speaker 6: people who hold conferences and share and talk and educate people,

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Speaker 6: those are the ones that I've seen do the best.

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Speaker 6: The future is in everything, right, Like you mentioned, royalties

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Speaker 6: think about that for a traditional artist that has to

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Speaker 6: pay to rent Madison Square Garden. Let's say Drake's coming

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Speaker 6: to New York, he plays at MSG, he pays the venue,

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Speaker 6: then they sell some of the tickets. The arena gets

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Speaker 6: a cut of that too. Now he so before he

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Speaker 6: sold that front row ticket for ten thousand dollars and

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Speaker 6: that was it. The resaler then sold it for twenty thousand.

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Speaker 6: The resaler of the resaler sold it for forty thousand.

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Speaker 6: But now if that ticket is an NFT and it

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Speaker 6: can't be converted without ten percent going to the original artist,

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Speaker 6: now Drake's making you know, fifteen to twenty twenty five

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Speaker 6: thousand just from resales of those tickets. So think about

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Speaker 6: that across the board for every sporting event, for every concert,

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Speaker 6: For an event like this, even if there were if

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Speaker 6: entry costs money and it was a limited amount of

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Speaker 6: tickets and you had to pay to get in, and

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Speaker 6: more people wanted to get in, then could fit everybody

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Speaker 6: here would resell theirs, but at least a percentage of

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Speaker 6: that would go back to the original creator. So the

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Speaker 6: way that money is going to be sent and brought

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Speaker 6: back to the original creator of anything, whether it be

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Speaker 6: a podcast or a concert or a sporting event is

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Speaker 6: changed forever.

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Speaker 4: Let me double click on that. I think that's a

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Speaker 4: great building block. I was upstairs early. I've seen a

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Speaker 4: lot of rolexes and people pull up and whips and

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Speaker 4: you know, it's an investment. It's an investment, right right, right.

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Speaker 4: There's a reason people buy those things, right Like I

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Speaker 4: got a couple too, We got a couple of nice toys.

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Speaker 4: There's all things that we that will invest our discretionary

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Speaker 4: income on. And it's really no different in this new era,

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Speaker 4: with this new type of currency. There's collections that are

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Speaker 4: you know, rising and value and they're a lot more

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Speaker 4: valuable than a rolex. And let me underpin a really

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Speaker 4: critical fact of Web three, and that is your wallet

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Speaker 4: is public. Yep, it's a publicly accessible wallet. I can

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Speaker 4: go check out what you own and what you own

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Speaker 4: and what you own. And so with that dynamic, you know,

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Speaker 4: it's it's playing off of human behavior in the sense

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Speaker 4: that the same reason you buy the bends or the rolex,

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Speaker 4: it's the same reason why you're going to buy into

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Speaker 4: some of the collections and show them off. And if

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Speaker 4: you look on VC Twitter right now, you're going to

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Speaker 4: see a lot of profile pictures of different collections because

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Speaker 4: they just want to show off what tribe they belong to,

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Speaker 4: what they believe in, and so on. So that's one

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Speaker 4: aspect is the social behavior. The economics is important to

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Speaker 4: underpin as well, especially now because you know it's south

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Speaker 4: by Southwest. You know music portion Before you would have

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Speaker 4: to go to a label to get funded and discovered,

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Speaker 4: but web three democratizes access and it effectively becomes a

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Speaker 4: vehicle by which you can fund your own projects. Fuck

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Speaker 4: you got to get the approval of a label for

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Speaker 4: now when you can just go directly to your fans

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Speaker 4: put out an NFT that allows you to monetize the

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Speaker 4: direct relationship but you have with your community, and now

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Speaker 4: you have the capital to make a bang and ask album,

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Speaker 4: you know, do activations and go on tour. So don't

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Speaker 4: ignore this as a mechanization of monetizing the relationship you

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Speaker 4: have with your community directly.

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Speaker 3: Oh one other thing that I would add too.

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Speaker 6: You know, I remember at the beginning of twenty twenty

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Speaker 6: one when we first started talking about NFTs and a

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Speaker 6: lot of people that I would.

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Speaker 3: Send it to and be like, you should take a

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Speaker 3: look at this. This is interesting.

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Speaker 6: I think this could be the future of traditional collectibles

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Speaker 6: think sports cards, memorabilia, sign things, whatever it may be.

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Speaker 6: And they're like, well, there's no intrinsic value. I'm like, well,

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Speaker 6: there's no intrinsic value.

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Speaker 3: None of the other stuff either.

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Speaker 6: The difference between in raw material value between the greatest

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Speaker 6: Michael Jordan Rookie card and this board ape is about

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Speaker 6: one penny because of the cardboard that it was printed on,

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Speaker 6: maybe less so when you start, when you push that aside,

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Speaker 6: at least you're able to look at it as okay,

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Speaker 6: a lot of these things are equally. There's no intrinsic

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Speaker 6: value of something that was done by da Vinci per se.

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Speaker 6: The material value is very minimal. It's what we as

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Speaker 6: a society put on that. And the great thing about

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Speaker 6: you know, NFTs and digital things is, you know, like

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Speaker 6: you mentioned, if somebody, if somebody owns a da Vinci

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Speaker 6: and they keep it in their house high security.

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Speaker 3: You know, we don't we don't see it.

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Speaker 6: Whereas every wallet, my wallet, you know, everybody else's wallet

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Speaker 6: is publicly available to see and see what those things are.

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Speaker 6: So it really is a museum that travels with.

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Speaker 3: You in your pocket.

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Speaker 6: And Uh, once you sort of get over the intrinsic

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Speaker 6: value home, which is that I saw early on from

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Speaker 6: people that I was friends with IRL, it all starts

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Speaker 6: to make a lot more sense.

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Speaker 3: So I wanted to say that too.

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Speaker 7: You do it all without breaking a sweat, and you

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00:16:12,640 --> 00:16:14,920
Speaker 7: do it all in style, from being a boss exec

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Speaker 7: to getting the kids ready for school, checking homework, family dinners,

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00:16:18,760 --> 00:16:21,520
Speaker 7: lunches and brunches with your day ones, trips to the salon,

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Speaker 7: and we can get aways at anything but a getaway.

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Speaker 7: That's why Infinity fully reimagine the QX sixty to help

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Speaker 7: you conquer it all with ease.

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Speaker 3: A luxury suv.

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00:16:30,840 --> 00:16:33,840
Speaker 7: As functional as it is stylish, and as versatile as

321
00:16:33,880 --> 00:16:36,520
Speaker 7: it is serene, even when you have back to back

322
00:16:36,560 --> 00:16:39,600
Speaker 7: conference calls on top of the kids basketball practices, Not

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00:16:39,680 --> 00:16:42,360
Speaker 7: to mention your side hustles, It's all done with grace.

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00:16:42,840 --> 00:16:46,320
Speaker 7: The all new Infinity QX sixty has available features like

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Speaker 7: seating for up to seven passengers, a suite of active

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Speaker 7: safety features, and massage in front seats. It's the suv

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Speaker 7: designed to help you conquer life in style. Now with

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Speaker 7: extremely limited availability, contact your local retailer for inventory information.

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Speaker 3: Yeah there's no intrinsic value in almost anything. Really.

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Speaker 5: I mean the American dollar, what's the intrinsic value. There's

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Speaker 5: just the faith that we have in it's back by

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Speaker 5: the military. Goal you know has some uses, but most

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Speaker 5: people don't use goal like that. They just hoard it.

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Speaker 5: It's like, you know, that's why he said bitcoin is

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Speaker 5: like digital goal. Housing has value, but even that it's subjective,

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Speaker 5: Like a house in here could be the same exact

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Speaker 5: house in the house in New York, but the house

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Speaker 5: in New York is worth ten times more. Like why

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00:17:29,080 --> 00:17:31,160
Speaker 5: because people think that New York real estate is worth

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Speaker 5: more than Texas real estate. As soon as they start

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Speaker 5: to think differently than everything changes. So I think that

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Speaker 5: that's very important what you said. We have to get

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Speaker 5: out of that because that is something that people say like, well,

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Speaker 5: it has no value. Well, you know a lot of

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Speaker 5: things have no value. So let me if you look

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Speaker 5: at it like that, a lot of things do have

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Speaker 5: a lot of value. So you both of you guys

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Speaker 5: not only talk about NFTs, but you own NFTs as well. Right,

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Speaker 5: So what for people that's looking to invest in NFT projects,

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Speaker 5: what are some things that they need to take into

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Speaker 5: consideration when looking at this is a good project to

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Speaker 5: invest in, this is a bad product to invest in.

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Speaker 3: On the note of tangible value.

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Speaker 4: You know what does have tangible value and it's not

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Speaker 4: subject to fluctuating sentiment. Is income produce in real estate.

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Speaker 4: Because the way that you value real estate is based

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Speaker 4: off the cash flow. I'm gonna tell you guys, something's

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Speaker 4: gonna blow your mind right now. I own a few

359
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Speaker 4: multi family properties. They produce cash flow. I sold one

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Speaker 4: of those buildings, I took the earnings, it's a five

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Speaker 4: hundred thousand, and I put I went all in into NFTs.

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Speaker 4: Here's why I pay attention to the startup markets. I

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Speaker 4: pay attention to the public markets. Right right now, there's

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Speaker 4: a public market correction, so all the public companies are

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Speaker 4: coming down to value. But even six months ago everything

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Speaker 4: was at an all time high, and I'm trying to

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Speaker 4: make sense of it. People are paying all time high

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Speaker 4: values on multiples of revenue in the public markets. In

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Speaker 4: the private market, it's even real estate. I'm getting some

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00:19:02,240 --> 00:19:05,359
Speaker 4: cash flow, but not a whole lot. And so what

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Speaker 4: I need us to understand as a community is that

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Speaker 4: every once in a while, there's a generational shift and

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Speaker 4: potentially the emergence of a new asset class. I want

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Speaker 4: you guys to view this as an asset class, and

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Speaker 4: when you're looking at it from the perspective of price

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Speaker 4: arbitrage and pricing inefficiency, I believe that there's a lot

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Speaker 4: of room for NFT floors and prices to go way up.

378
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Speaker 4: So I said, all right, I bet if I lose

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Speaker 4: this half a M, that's gonna hurt. But if Web

380
00:19:39,119 --> 00:19:44,600
Speaker 4: three plays out, it'll change my life. I get chills

381
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Speaker 4: saying that shit. You guys, put a little bit of

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Speaker 4: money and like, Ian is gonna smack me outside the

383
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Speaker 4: head because he's you know, he's got like the long

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Speaker 4: term investment principles.

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Speaker 3: But if you invest a little bit.

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Speaker 4: Of money on a prolonged basis in the market, bet

387
00:19:57,480 --> 00:20:01,240
Speaker 4: you're gonna be up eight to fifteen percent if you

388
00:20:01,400 --> 00:20:05,119
Speaker 4: find the opportunity that's generational. Like we didn't have a

389
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Speaker 4: chance to invest in Amazon when Amazon was being founded

390
00:20:08,600 --> 00:20:12,119
Speaker 4: in nineteen ninety five. You feel me like it's the

391
00:20:12,200 --> 00:20:15,560
Speaker 4: two three year window. It's the twelve to eighteen twenty

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Speaker 4: four months where a lot of these projects are gonna

393
00:20:17,800 --> 00:20:21,840
Speaker 4: be within reach and we have to make decisions as

394
00:20:21,840 --> 00:20:25,040
Speaker 4: a community, Are we gonna buy public stocks that are

395
00:20:25,080 --> 00:20:26,639
Speaker 4: that are blue chip and then they're gonna give you

396
00:20:26,640 --> 00:20:31,480
Speaker 4: a three percent yield? But remember scare money, don't make

397
00:20:31,480 --> 00:20:34,760
Speaker 4: no money. And plus I don't know about y'all, but

398
00:20:34,840 --> 00:20:37,600
Speaker 4: I grew up dead fucking broke. I come from a

399
00:20:37,640 --> 00:20:40,159
Speaker 4: household that grew up below the poverty line both parents

400
00:20:40,160 --> 00:20:42,919
Speaker 4: income combined it and may twenty four grand in Washington Heights.

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Speaker 3: What's good.

402
00:20:44,480 --> 00:20:49,320
Speaker 4: I ain't got nothing to lose. So if so, if

403
00:20:49,720 --> 00:20:52,959
Speaker 4: that's where we're coming from, then what do we have

404
00:20:53,040 --> 00:20:57,720
Speaker 4: to lose by hedging into something that opportunistically and macro

405
00:20:57,840 --> 00:21:00,520
Speaker 4: economically has a lot of room to grow and we're

406
00:21:00,520 --> 00:21:03,560
Speaker 4: getting the indications from the corporates. So that's how I

407
00:21:03,640 --> 00:21:08,359
Speaker 4: approached my NFT investment journey. And I know we didn't

408
00:21:08,359 --> 00:21:10,680
Speaker 4: get into like what we look for in a collection,

409
00:21:11,000 --> 00:21:13,080
Speaker 4: but I wanted to contextualize this shit as.

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Speaker 6: An investment opportunity. So that's my take on it, one

411
00:21:16,920 --> 00:21:20,679
Speaker 6: hundred percent. The upside, like you said, is infinite. Then

412
00:21:21,200 --> 00:21:22,800
Speaker 6: I sort of look at it from a similar way

413
00:21:22,840 --> 00:21:26,080
Speaker 6: as to where it's like investing in a startup, because

414
00:21:26,160 --> 00:21:29,600
Speaker 6: if so far NFT projects have only made money from

415
00:21:29,600 --> 00:21:33,280
Speaker 6: withinside the NFT projects, but there will come a point

416
00:21:33,680 --> 00:21:37,240
Speaker 6: where they build businesses on the side of the NFTs

417
00:21:37,280 --> 00:21:39,879
Speaker 6: and then put that revenue back into it. What's the

418
00:21:39,880 --> 00:21:43,880
Speaker 6: difference between Amazon and that There is none. They all

419
00:21:43,920 --> 00:21:48,640
Speaker 6: make money outside of inside the core team and from

420
00:21:48,680 --> 00:21:54,199
Speaker 6: a specific user base. Like that's the way that I

421
00:21:54,280 --> 00:21:59,480
Speaker 6: see all of this playing out. Young and old, intelligent

422
00:21:59,680 --> 00:22:03,880
Speaker 6: found from all around the world create a company.

423
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Speaker 3: It's the facade of that is art.

424
00:22:07,520 --> 00:22:11,000
Speaker 6: But then underneath that, when they get the funding, the

425
00:22:11,040 --> 00:22:14,480
Speaker 6: good ones will create businesses on the sides of those.

426
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Speaker 6: And it's entirely possible that one day we see a

427
00:22:19,320 --> 00:22:22,439
Speaker 6: project that has ten thousand and has a ten.

428
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Speaker 3: Million dollar floor. Entirely possible.

429
00:22:25,840 --> 00:22:28,320
Speaker 4: Play let's play that a little further the other day.

430
00:22:28,560 --> 00:22:31,280
Speaker 4: I'm seeing at any moment now you're seeing news news.

431
00:22:31,520 --> 00:22:36,719
Speaker 4: I've seen that the board apes. You guys seen them.

432
00:22:36,840 --> 00:22:41,240
Speaker 4: They got signed to a major label and they made

433
00:22:41,240 --> 00:22:46,560
Speaker 4: a band out of the apes. When I saw that,

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00:22:46,720 --> 00:22:51,520
Speaker 4: if it clicked right away, I understand it's intellectual property development.

435
00:22:52,560 --> 00:22:54,040
Speaker 3: You're creating characters.

436
00:22:54,119 --> 00:22:56,760
Speaker 4: Imagine if Harry Potter when it came out was an

437
00:22:56,800 --> 00:23:01,119
Speaker 4: NFT collection. Imagine if you bought into Harry Potter at

438
00:23:01,160 --> 00:23:04,800
Speaker 4: the fucking start of it, right or Mickey Mouse.

439
00:23:05,280 --> 00:23:05,920
Speaker 3: Absolutely.

440
00:23:07,680 --> 00:23:12,280
Speaker 4: When I look for projects, I look for IP development opportunities.

441
00:23:12,880 --> 00:23:16,119
Speaker 4: Do I fuck with the characters? Do I resonate with

442
00:23:16,600 --> 00:23:19,639
Speaker 4: like just the way they come across? Can I see

443
00:23:19,680 --> 00:23:24,399
Speaker 4: this being an audiobook? Do they have a robust community?

444
00:23:24,600 --> 00:23:26,720
Speaker 4: I'll tell you right now, if E y L dropped

445
00:23:26,720 --> 00:23:28,440
Speaker 4: the NFT project, who will buy hands up?

446
00:23:29,240 --> 00:23:29,840
Speaker 3: Soon reached?

447
00:23:30,720 --> 00:23:36,520
Speaker 4: Okay, by the way, fun moment fucking six seven eight

448
00:23:36,560 --> 00:23:37,120
Speaker 4: months ago.

449
00:23:38,160 --> 00:23:39,440
Speaker 3: You know how there's a dot com right?

450
00:23:39,480 --> 00:23:42,600
Speaker 4: I try to buy like VM dot com many years back,

451
00:23:42,640 --> 00:23:45,080
Speaker 4: and and that shit was was five hundred thousand.

452
00:23:45,080 --> 00:23:46,639
Speaker 3: I was like, bad, I can't. I can't.

453
00:23:47,040 --> 00:23:50,560
Speaker 4: And then when I noticed that that NFT projects they

454
00:23:50,560 --> 00:23:52,560
Speaker 4: had to dot eth, I said, yo, this is the

455
00:23:52,560 --> 00:23:55,480
Speaker 4: new dot com. Once you've seen something one time, it's

456
00:23:55,840 --> 00:23:57,680
Speaker 4: it's up to you to seize the day the next time.

457
00:23:57,840 --> 00:23:59,159
Speaker 4: So you know what I did. I went on to

458
00:23:59,520 --> 00:24:02,000
Speaker 4: you could buy is ens domains dot com. I started

459
00:24:02,000 --> 00:24:05,520
Speaker 4: buying up dot eth domains and good, I started buying

460
00:24:05,520 --> 00:24:07,560
Speaker 4: my home. I started buying my shit first, Jean Henry

461
00:24:07,560 --> 00:24:10,840
Speaker 4: dot E got it, and then I started buying my

462
00:24:10,920 --> 00:24:14,680
Speaker 4: homies next, and then I started buying my enemies. After that,

463
00:24:15,119 --> 00:24:18,080
Speaker 4: I was like, caught you slipping, bitch, caught you slipping, bitch,

464
00:24:18,200 --> 00:24:19,240
Speaker 4: caught you slipping, bitch.

465
00:24:21,119 --> 00:24:22,720
Speaker 3: I hit up shot. I was like, Yo, you guys

466
00:24:22,760 --> 00:24:23,720
Speaker 3: got Eyl dot Eth.

467
00:24:23,800 --> 00:24:26,879
Speaker 7: He's like, this episode is brought to you by P

468
00:24:26,960 --> 00:24:29,840
Speaker 7: and C Bank. A lot of people think podcasts about

469
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Speaker 7: work are boring, and sure they definitely can be, but

470
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Speaker 7: understanding a professionals routine shows us how they achieve their

471
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Speaker 7: success little by little, day after day. It's like banking

472
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Speaker 7: with P and C Bank. It might seem boring to

473
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Speaker 7: safe plan and make calculated decisions with your bank, but

474
00:24:47,240 --> 00:24:49,720
Speaker 7: keeping your money boring is what helps you live or

475
00:24:49,760 --> 00:24:54,040
Speaker 7: more happily fulfilled life. P and C Bank Brilliantly Boring

476
00:24:54,080 --> 00:24:58,520
Speaker 7: since eighteen sixty five. Brilliantly Boring since eighteen sixty five

477
00:24:58,600 --> 00:25:01,679
Speaker 7: is a service mark of the pn see Financial Service Group, Inc.

478
00:25:02,000 --> 00:25:05,880
Speaker 7: P and C Bank National Association Member fdic.

479
00:25:08,520 --> 00:25:09,200
Speaker 3: Erners What's up?

480
00:25:09,280 --> 00:25:11,760
Speaker 7: You ever walk into a small business and everything just

481
00:25:11,920 --> 00:25:15,080
Speaker 7: works like, the checkout is fast, the receipts are digital,

482
00:25:15,600 --> 00:25:18,600
Speaker 7: tipping is a breeze, and you're out the door before

483
00:25:18,600 --> 00:25:22,760
Speaker 7: the line even builds odds are they're using Square. We

484
00:25:22,920 --> 00:25:25,439
Speaker 7: love supporting businesses that run on Square because it just

485
00:25:25,480 --> 00:25:28,720
Speaker 7: feels seamless. Whether it's a local coffee shop, a vendor

486
00:25:28,760 --> 00:25:31,040
Speaker 7: at a pop up market, or even one of our

487
00:25:31,080 --> 00:25:34,720
Speaker 7: merch partners, Square makes it easy for them to take payments,

488
00:25:34,960 --> 00:25:38,640
Speaker 7: manage inventory, and run their business with confidence, all from

489
00:25:38,760 --> 00:25:42,160
Speaker 7: one simple system. If you're a business owner or even

490
00:25:42,280 --> 00:25:45,800
Speaker 7: just thinking about launching something soon, Square is hands down

491
00:25:45,840 --> 00:25:48,159
Speaker 7: one of the best tools out there to help you start,

492
00:25:48,560 --> 00:25:52,080
Speaker 7: run and grow. It's not just about payments, it's about

493
00:25:52,119 --> 00:25:54,600
Speaker 7: giving you time back so you can focus on what

494
00:25:54,760 --> 00:25:58,400
Speaker 7: matters most ready. To see how Square can transform your business,

495
00:25:58,680 --> 00:26:03,320
Speaker 7: visit Square dot com backslash go backslash eyl to learn

496
00:26:03,359 --> 00:26:08,560
Speaker 7: more that Square dot com backslash, go backslash eyl. Don't wait,

497
00:26:08,840 --> 00:26:11,639
Speaker 7: don't hesitate. Let's Square handle the back end so you

498
00:26:11,680 --> 00:26:13,320
Speaker 7: can keep pushing your vision forward.

499
00:26:15,560 --> 00:26:19,240
Speaker 8: An illegal alien from Guatemala charged with raping a child

500
00:26:19,280 --> 00:26:23,080
Speaker 8: in Massachusetts. An MS thirteen gang member from Al Salvador

501
00:26:23,320 --> 00:26:27,439
Speaker 8: accused of murdering a Texas. Man of Venezuelan charged with

502
00:26:27,520 --> 00:26:31,399
Speaker 8: filming and selling child pornography in Michigan. These are just

503
00:26:31,520 --> 00:26:35,280
Speaker 8: some of the heinous migrant criminals caught because of President

504
00:26:35,280 --> 00:26:38,840
Speaker 8: Donald J. Trump's leadership. I'm Christy Noman, the United States

505
00:26:38,880 --> 00:26:43,679
Speaker 8: Secretary of Homeland Security. Under President Trump, attempted illegal border

506
00:26:43,720 --> 00:26:47,280
Speaker 8: crossings are at the lowest levels ever recorded, and over

507
00:26:47,320 --> 00:26:50,560
Speaker 8: one hundred thousand illegal aliens have been arrested. If you

508
00:26:50,640 --> 00:26:54,480
Speaker 8: are here illegally, your next you will be fine nearly

509
00:26:54,560 --> 00:26:58,600
Speaker 8: one thousand dollars a day. Imprisoned and deported, you will

510
00:26:58,600 --> 00:27:02,280
Speaker 8: never return. But if you register using our CBP home

511
00:27:02,320 --> 00:27:05,680
Speaker 8: app and leave now, you could be allowed to return legally.

512
00:27:06,040 --> 00:27:06,840
Speaker 8: Do what's right.

513
00:27:07,440 --> 00:27:08,240
Speaker 3: Leave now.

514
00:27:08,600 --> 00:27:12,959
Speaker 8: Under President Trump, America's laws, border and families.

515
00:27:12,560 --> 00:27:14,960
Speaker 3: Will be protected. Sponsored by the United States Department of

516
00:27:15,000 --> 00:27:15,680
Speaker 3: Homeland Security.

517
00:27:15,840 --> 00:27:17,960
Speaker 4: Nah Man, someone sliped it, but we was looking though.

518
00:27:18,280 --> 00:27:20,040
Speaker 4: I was like, guess who owns that shit?

519
00:27:24,400 --> 00:27:25,919
Speaker 3: And guess what. I paid a rack for it.

520
00:27:25,960 --> 00:27:28,080
Speaker 4: But I'm gonna hook the homies up with it anyway,

521
00:27:28,240 --> 00:27:29,040
Speaker 4: because that's love.

522
00:27:29,840 --> 00:27:31,359
Speaker 9: We still don't need that throw by the way, I

523
00:27:31,400 --> 00:27:34,520
Speaker 9: got you, that's crazy.

524
00:27:34,240 --> 00:27:34,480
Speaker 3: Troy.

525
00:27:34,800 --> 00:27:36,560
Speaker 5: Troy was like we saw on YouTube. He was he

526
00:27:36,680 --> 00:27:39,159
Speaker 5: was like, Yo, somebody damn somebody took it. It was

527
00:27:39,160 --> 00:27:41,320
Speaker 5: like weeks. He didn't tell us until I spoke to

528
00:27:41,400 --> 00:27:43,040
Speaker 5: him about south By Southwest.

529
00:27:43,080 --> 00:27:46,040
Speaker 3: He's like, oh, by the way, I own euyo. I'm like, well,

530
00:27:46,160 --> 00:27:47,320
Speaker 3: or you want to plan on telling me?

531
00:27:49,160 --> 00:27:51,280
Speaker 4: I was secretly like just waiting to see how long

532
00:27:51,320 --> 00:27:52,919
Speaker 4: motherfuckers took before they came to me.

533
00:27:54,000 --> 00:27:57,320
Speaker 3: So, wait, was your wallet addressed up public? Did you

534
00:27:57,359 --> 00:27:58,600
Speaker 3: not have your NS on it?

535
00:27:58,960 --> 00:28:00,639
Speaker 4: I had it all my public good dress, and I

536
00:28:00,680 --> 00:28:04,280
Speaker 4: was just waiting and I'm motherfucker is snoozing.

537
00:28:04,359 --> 00:28:06,120
Speaker 6: That would have been even more awkward if you were

538
00:28:06,240 --> 00:28:08,400
Speaker 6: looking at who owned it that way.

539
00:28:08,560 --> 00:28:11,280
Speaker 5: Yeah, definitely, he definitely caught a slipping. But that's that's

540
00:28:11,280 --> 00:28:12,919
Speaker 5: a good gym right there though, because that that is

541
00:28:12,960 --> 00:28:15,240
Speaker 5: the new website. That is the new website for sure.

542
00:28:16,000 --> 00:28:17,879
Speaker 5: First of all, shout out to Tamika Mallory and my

543
00:28:18,040 --> 00:28:20,240
Speaker 5: son in the building. Thank you for your advocacy. Appreciate

544
00:28:20,280 --> 00:28:24,560
Speaker 5: it absolutely. Let's talk about let's talk about eight coin.

545
00:28:25,600 --> 00:28:28,439
Speaker 5: That's interesting. You just told me about that. So you know,

546
00:28:28,480 --> 00:28:31,000
Speaker 5: we talked about the board eight Yacht Club and now

547
00:28:31,160 --> 00:28:34,280
Speaker 5: it's like a whole new vibe with them actually having

548
00:28:34,320 --> 00:28:37,720
Speaker 5: a cryptocurrency which went live today right yep, this.

549
00:28:37,720 --> 00:28:41,080
Speaker 3: Morning on all major platforms. Eventually, Yeah, they're alive now,

550
00:28:41,120 --> 00:28:41,760
Speaker 3: so just kind.

551
00:28:41,600 --> 00:28:43,920
Speaker 5: Of explain that, but even deeper than that, explain how

552
00:28:43,920 --> 00:28:46,320
Speaker 5: that could be an evolution that could potentially change you know,

553
00:28:46,440 --> 00:28:47,760
Speaker 5: how we look at these things.

554
00:28:48,320 --> 00:28:51,000
Speaker 6: Yeah, so again you're going to start seeing these projects

555
00:28:51,040 --> 00:28:53,760
Speaker 6: do things that you know, whether they originally started as

556
00:28:53,880 --> 00:28:57,959
Speaker 6: art or had plans of utility, eventually to expand they

557
00:28:58,000 --> 00:29:00,760
Speaker 6: have to turn into a real business. And board Apes

558
00:29:00,760 --> 00:29:03,440
Speaker 6: have done that time and time again. They actually acquired

559
00:29:03,480 --> 00:29:08,080
Speaker 6: crypto Punks, so board apes parent company, Yuga Labs now

560
00:29:08,160 --> 00:29:12,520
Speaker 6: owns the crypto punks as well. That was a very

561
00:29:12,600 --> 00:29:16,240
Speaker 6: large deal that valued that companied over four billion dollars.

562
00:29:16,800 --> 00:29:20,520
Speaker 6: And you know, the next iteration for a lot of

563
00:29:20,560 --> 00:29:24,280
Speaker 6: these companies as they create new projects is to create

564
00:29:24,280 --> 00:29:28,480
Speaker 6: their own currency. So they launched ape coin, which launched

565
00:29:28,520 --> 00:29:31,160
Speaker 6: this morning. I last time I checked, it was about

566
00:29:31,200 --> 00:29:34,520
Speaker 6: seven dollars each and anybody that owned an ape before

567
00:29:34,920 --> 00:29:37,680
Speaker 6: got an air drop that was between seventy thousand and

568
00:29:37,680 --> 00:29:40,480
Speaker 6: two hundred thousand dollars just for having owned an ape.

569
00:29:40,880 --> 00:29:43,000
Speaker 6: So without selling their ape, they were able to make

570
00:29:43,040 --> 00:29:49,000
Speaker 6: a lot. And that that isn't necessarily the outside business

571
00:29:49,160 --> 00:29:51,600
Speaker 6: idea that we were talking about before. But what it

572
00:29:51,640 --> 00:29:54,640
Speaker 6: will allow is for when they do their land releases,

573
00:29:54,680 --> 00:29:57,960
Speaker 6: when they have parties, when they launch merch it'll only

574
00:29:58,000 --> 00:30:03,120
Speaker 6: be payable in apecoin. So that's that's sort of another

575
00:30:03,320 --> 00:30:08,560
Speaker 6: level of how these certain NFT projects are expanding, and

576
00:30:08,600 --> 00:30:10,600
Speaker 6: they are, you know, an example of the ones that

577
00:30:10,640 --> 00:30:13,760
Speaker 6: have done it the best, and you know, regulatory wise,

578
00:30:13,800 --> 00:30:18,120
Speaker 6: it's very complicated, but if you're worth four billion dollars,

579
00:30:18,120 --> 00:30:19,440
Speaker 6: it get gets a little bit less.

580
00:30:19,600 --> 00:30:21,000
Speaker 3: Let's go further on the coins.

581
00:30:21,920 --> 00:30:25,080
Speaker 4: So so you had mentioned a term air drop, and

582
00:30:25,280 --> 00:30:26,280
Speaker 4: this is unique to.

583
00:30:26,240 --> 00:30:27,520
Speaker 3: The web three space.

584
00:30:27,640 --> 00:30:30,000
Speaker 4: But what it effectively allows you to do is if

585
00:30:30,040 --> 00:30:33,480
Speaker 4: you publish said n FT. Let's say you're an artist,

586
00:30:33,520 --> 00:30:35,920
Speaker 4: you publish you know, n FT collection five thousand, You

587
00:30:35,960 --> 00:30:36,880
Speaker 4: got five thousand fans.

588
00:30:37,200 --> 00:30:37,720
Speaker 3: Cool.

589
00:30:38,000 --> 00:30:42,640
Speaker 4: Now you can because they own something that's linked to

590
00:30:42,680 --> 00:30:47,360
Speaker 4: your collection, you can effectively transmit to them anything of

591
00:30:47,400 --> 00:30:51,320
Speaker 4: your choosing. Okay, now people have gotten very creative with this.

592
00:30:51,440 --> 00:30:54,000
Speaker 4: That's called the air drop. If you all all own

593
00:30:54,000 --> 00:30:56,560
Speaker 4: an entity that I made, I can air drop to

594
00:30:56,640 --> 00:31:00,400
Speaker 4: you something that you authenticate the fact that you own

595
00:31:00,920 --> 00:31:04,200
Speaker 4: my NFT by connecting your wallet BET. Once that's registered,

596
00:31:04,360 --> 00:31:06,800
Speaker 4: I transmit something of value to you Okay, cool.

597
00:31:07,080 --> 00:31:08,520
Speaker 3: How have people played that out? Well?

598
00:31:08,560 --> 00:31:11,040
Speaker 4: I mentioned I was buying the dot eat domains, so

599
00:31:11,080 --> 00:31:13,040
Speaker 4: from the company, it's pretty much like go Daddy of

600
00:31:13,080 --> 00:31:16,920
Speaker 4: web three. They launched a coin, their own coin called

601
00:31:17,120 --> 00:31:19,600
Speaker 4: n s coin, and what they did was, Hey, anyone

602
00:31:19,600 --> 00:31:23,480
Speaker 4: who bought an NS domain before X date, you get

603
00:31:23,760 --> 00:31:27,080
Speaker 4: set amount of coins. And people knew that I was

604
00:31:27,080 --> 00:31:29,800
Speaker 4: sniping domain. So my Twitter was blowing up, yo jays,

605
00:31:29,800 --> 00:31:31,440
Speaker 4: you gotta check out how many coins do you get?

606
00:31:32,720 --> 00:31:33,840
Speaker 3: I went, I checked it out.

607
00:31:34,480 --> 00:31:36,880
Speaker 4: I had man fucking coins and I said, well, what's

608
00:31:36,880 --> 00:31:39,160
Speaker 4: the value of these coins? And you know, when you

609
00:31:39,200 --> 00:31:42,200
Speaker 4: register your coins, there's like an official registry and then

610
00:31:42,200 --> 00:31:44,680
Speaker 4: they peg a value. And I had like four hundred

611
00:31:44,680 --> 00:31:47,000
Speaker 4: coins and I think that the value was seventeen dollars

612
00:31:47,080 --> 00:31:50,680
Speaker 4: per and I did the math. I was like, I

613
00:31:50,720 --> 00:31:52,920
Speaker 4: only spent three grand on the domains. Is it true

614
00:31:52,920 --> 00:31:55,600
Speaker 4: that this shit has worked seventeen thousand?

615
00:31:56,520 --> 00:31:56,800
Speaker 3: Yep?

616
00:31:56,960 --> 00:31:59,440
Speaker 4: And someone's like, yo, behold it because the value is

617
00:31:59,480 --> 00:32:00,960
Speaker 4: going to go up. Like nah, I'm telling this shit

618
00:32:01,080 --> 00:32:03,920
Speaker 4: right now. I sold all the coins and I took

619
00:32:04,120 --> 00:32:07,840
Speaker 4: the cash out. But here's the bigger takeaway. When I

620
00:32:07,880 --> 00:32:09,320
Speaker 4: tweeted that I was like, yoh, I can't believe I

621
00:32:09,360 --> 00:32:12,320
Speaker 4: just made seventeen grand. Someone tweeted back and said, when's

622
00:32:12,360 --> 00:32:17,160
Speaker 4: the last time go Daddy gave you anything for owning

623
00:32:17,200 --> 00:32:19,120
Speaker 4: a dot com?

624
00:32:19,160 --> 00:32:21,680
Speaker 3: Again, I got the chills and I heard a few wows.

625
00:32:23,000 --> 00:32:28,280
Speaker 4: That is the difference between the way that the web

626
00:32:28,400 --> 00:32:32,600
Speaker 4: three economy is evolving. It allows you to have an

627
00:32:32,640 --> 00:32:36,880
Speaker 4: economy with your consumer base so that the support is

628
00:32:36,920 --> 00:32:39,240
Speaker 4: not just them to you.

629
00:32:39,240 --> 00:32:41,920
Speaker 3: You can go back to them. And when you guys

630
00:32:41,960 --> 00:32:44,000
Speaker 3: own eyl coin, it's coming.

631
00:32:45,360 --> 00:32:49,840
Speaker 4: You guys are gonna get air drops from Ian Dunlab.

632
00:32:50,240 --> 00:32:52,320
Speaker 4: The mortgage got you know whomever, all the stars in

633
00:32:52,320 --> 00:32:56,240
Speaker 4: the ecosystem, right, and so that is a very interesting

634
00:32:56,280 --> 00:33:00,360
Speaker 4: opportunity for us as an insurance company, for example, because

635
00:33:00,360 --> 00:33:03,440
Speaker 4: if we made loop coin, then we have a way

636
00:33:03,600 --> 00:33:08,160
Speaker 4: to reward our community for being part of our you know,

637
00:33:09,200 --> 00:33:11,800
Speaker 4: our mini economy, so to speak. And that's something that

638
00:33:11,840 --> 00:33:14,880
Speaker 4: I wanted to illustrate for y'all as another example of

639
00:33:14,920 --> 00:33:18,680
Speaker 4: a very unique dynamic that is worth unpacking now.

640
00:33:18,760 --> 00:33:22,680
Speaker 5: It's extremely important and it's high level conversation and shout

641
00:33:22,720 --> 00:33:24,360
Speaker 5: out to I got him five hundred in the building

642
00:33:24,600 --> 00:33:27,320
Speaker 5: and we was talking backstage and when Buster was telling

643
00:33:27,360 --> 00:33:29,520
Speaker 5: us about that, we have a mutual friend that owns

644
00:33:30,240 --> 00:33:33,120
Speaker 5: eight board eight and he called them and he was like, yeah,

645
00:33:33,160 --> 00:33:35,640
Speaker 5: I made seventy thousand today, So you know you have

646
00:33:35,720 --> 00:33:40,840
Speaker 5: these information obviously resources as well, but information can really

647
00:33:40,920 --> 00:33:43,719
Speaker 5: change your life. Like, you know, think about making seventy

648
00:33:43,760 --> 00:33:47,800
Speaker 5: thousand dollars for no reason. Literally, he just owns one.

649
00:33:47,880 --> 00:33:50,280
Speaker 5: What about the people that own ten own one hundred.

650
00:33:50,640 --> 00:33:52,040
Speaker 3: So there's somebody out there.

651
00:33:52,080 --> 00:33:54,320
Speaker 6: I saw it on Twitter today who owns one hundred

652
00:33:54,360 --> 00:33:57,080
Speaker 6: apes and one hundred mutant apes and one hundred kennels

653
00:33:57,080 --> 00:34:00,479
Speaker 6: which is the third iteration. He made sixty million today

654
00:34:01,200 --> 00:34:03,600
Speaker 6: just on an air drop. So and he lives in

655
00:34:03,640 --> 00:34:04,920
Speaker 6: Portugal so it's not taxed.

656
00:34:06,520 --> 00:34:08,160
Speaker 5: Yeah, it's one of these things, you know. Everybody always

657
00:34:08,200 --> 00:34:11,560
Speaker 5: laughs like it's stupid, it's ape. It's all funny until

658
00:34:11,560 --> 00:34:11,800
Speaker 5: it's not.

659
00:34:12,120 --> 00:34:12,520
Speaker 3: That's right.

660
00:34:13,120 --> 00:34:14,920
Speaker 6: And by the way, the next one is going to

661
00:34:14,960 --> 00:34:18,080
Speaker 6: be meta mask. So meta mask, which is the wallet

662
00:34:18,120 --> 00:34:21,320
Speaker 6: that everybody uses to buy and sell NFTs. If anybody

663
00:34:21,360 --> 00:34:23,840
Speaker 6: in here has ever bought and sold an NFT with

664
00:34:23,960 --> 00:34:25,840
Speaker 6: meta mask, you have an air drop coming.

665
00:34:26,000 --> 00:34:27,799
Speaker 4: But here's the thing, I don't give a fuck about

666
00:34:27,800 --> 00:34:32,719
Speaker 4: the apes I care about your collections more than I

667
00:34:32,800 --> 00:34:35,080
Speaker 4: care about the apes. Do you understand why I'm here?

668
00:34:36,840 --> 00:34:38,839
Speaker 4: You get what I'm saying. I don't give a fuck

669
00:34:38,880 --> 00:34:40,920
Speaker 4: about the apes. I also don't give a fuck about

670
00:34:40,920 --> 00:34:43,400
Speaker 4: meta mask. I give a fuck about who's in this

671
00:34:43,600 --> 00:34:47,239
Speaker 4: room right now and all the collections that I want

672
00:34:47,280 --> 00:34:50,360
Speaker 4: to see emerge right now, and the w's that I

673
00:34:50,400 --> 00:34:52,800
Speaker 4: want you guys to get right now.

674
00:34:53,080 --> 00:34:54,920
Speaker 3: One hundred percent. You see what I'm saying.

675
00:34:55,440 --> 00:34:59,080
Speaker 5: Yeah, extremely important, John, Let's talk about Luke. Since we

676
00:34:59,120 --> 00:35:00,840
Speaker 5: are investors in Loop, Yes.

677
00:35:00,719 --> 00:35:03,240
Speaker 9: You are, Yes, we have. We have a Loop squad.

678
00:35:03,280 --> 00:35:07,360
Speaker 9: We got like thirty DP to Loop. So Loop is

679
00:35:07,400 --> 00:35:12,480
Speaker 9: a new age company. But you you're mixing AI with insurance,

680
00:35:12,520 --> 00:35:15,640
Speaker 9: which insurance is not something that's sexy. But talk about

681
00:35:15,680 --> 00:35:19,160
Speaker 9: Loop a little bit because it's interesting. You talked about

682
00:35:19,200 --> 00:35:22,080
Speaker 9: how racist insurance is, absolutely and you talk about how

683
00:35:22,120 --> 00:35:24,799
Speaker 9: you're changed in the face of insurance. You add an

684
00:35:24,840 --> 00:35:28,600
Speaker 9: AI to insurance, and then once we saw a NAS invested,

685
00:35:29,160 --> 00:35:30,080
Speaker 9: we had to invest.

686
00:35:30,520 --> 00:35:32,640
Speaker 3: Oh yeah, talk about talk about everything you got going

687
00:35:32,680 --> 00:35:33,399
Speaker 3: on Loop. Yo.

688
00:35:33,520 --> 00:35:37,000
Speaker 4: By the way, life has a lot of full circle moments. Shaddy,

689
00:35:37,040 --> 00:35:38,719
Speaker 4: I know you're a huge NAS fan. I grew up

690
00:35:38,760 --> 00:35:41,520
Speaker 4: listening in a thousands and thousands of hours of NAS,

691
00:35:41,840 --> 00:35:45,359
Speaker 4: and to have NAS invested in my company is a

692
00:35:45,360 --> 00:35:48,560
Speaker 4: moment that I received humbly, and I got on one knee,

693
00:35:49,480 --> 00:35:53,880
Speaker 4: as I still do often because it's nothing but gratitude

694
00:35:53,920 --> 00:35:54,520
Speaker 4: in this journey.

695
00:35:55,560 --> 00:35:55,799
Speaker 3: Yeah.

696
00:35:55,840 --> 00:35:59,440
Speaker 4: So, look, I mentioned that we was collectively omitated from

697
00:35:59,480 --> 00:36:02,440
Speaker 4: the FHA. I thought it was because the banks didn't

698
00:36:02,480 --> 00:36:06,080
Speaker 4: want to lend to our community, but then I learned

699
00:36:06,080 --> 00:36:08,760
Speaker 4: better banks to do whatever for their interests.

700
00:36:09,320 --> 00:36:12,200
Speaker 3: Okay, it was the insurance companies.

701
00:36:12,120 --> 00:36:17,120
Speaker 4: That dictated certain areas and said, hey, these areas are uninsurable.

702
00:36:17,320 --> 00:36:19,880
Speaker 4: Of course we now know that as redlining, and so

703
00:36:19,920 --> 00:36:22,719
Speaker 4: the reason that we weren't able to participate was not

704
00:36:22,760 --> 00:36:25,040
Speaker 4: because of the banks, although they typically get the heat,

705
00:36:25,239 --> 00:36:29,360
Speaker 4: is actually because of the insurance. And so insurance is

706
00:36:29,360 --> 00:36:33,600
Speaker 4: the invisible culprit in financial services that underpins trillions of

707
00:36:33,640 --> 00:36:37,319
Speaker 4: dollars of economic activity. You can barely go to the

708
00:36:37,320 --> 00:36:40,520
Speaker 4: bathroom without fucking insurance. You needed to buy a crib,

709
00:36:40,560 --> 00:36:42,200
Speaker 4: you needed to buy an investment, you need to buy

710
00:36:42,440 --> 00:36:44,280
Speaker 4: you need to buy a web. You needed for everything.

711
00:36:44,760 --> 00:36:48,120
Speaker 4: And when we took a look at just how much

712
00:36:48,239 --> 00:36:52,680
Speaker 4: inequality there is in the actual pricing. I'm talking about

713
00:36:52,680 --> 00:36:54,840
Speaker 4: the guts of the guts of the guts of that system.

714
00:36:55,200 --> 00:36:58,360
Speaker 4: A lot of the way that they price people is

715
00:36:58,480 --> 00:37:02,359
Speaker 4: based on demographic factors, right because these models were built

716
00:37:02,360 --> 00:37:04,719
Speaker 4: a long time ago, So they would say, do you

717
00:37:04,760 --> 00:37:08,480
Speaker 4: own your crib? All right, what's your credit score? What

718
00:37:08,600 --> 00:37:10,959
Speaker 4: kind of job you work? And of course what they're

719
00:37:11,080 --> 00:37:16,080
Speaker 4: low key doing is are you black? Or are you affluent?

720
00:37:16,480 --> 00:37:20,480
Speaker 4: And to present a startling statistic today right now, all

721
00:37:20,480 --> 00:37:24,640
Speaker 4: of this stuff is public because insurance is regulated at progressive.

722
00:37:24,680 --> 00:37:29,960
Speaker 4: For example, you could have a duy and two speeding tickets,

723
00:37:30,480 --> 00:37:34,200
Speaker 4: I e. Fucking reckless, But if you live in an affluent,

724
00:37:34,440 --> 00:37:38,280
Speaker 4: affluent neighborhood and well educated, you actually get a better

725
00:37:38,400 --> 00:37:40,919
Speaker 4: rate than someone who lives in a low income area

726
00:37:40,920 --> 00:37:44,839
Speaker 4: with a completely clean record. And I don't know about y'all,

727
00:37:45,160 --> 00:37:49,440
Speaker 4: but that's not gonna fly anymore. And so we wanted

728
00:37:49,520 --> 00:37:53,880
Speaker 4: to create a vertically integrated insurance company, as non sexy

729
00:37:53,880 --> 00:37:55,480
Speaker 4: as it sounds when I have to say, yeah, I'm

730
00:37:55,480 --> 00:37:58,600
Speaker 4: selling car insurance. Yeah I'm selling car insurance, you goddamn right.

731
00:37:59,040 --> 00:38:01,680
Speaker 4: And what we're doing is we have the technology now

732
00:38:01,880 --> 00:38:03,640
Speaker 4: to price people based on how they drive.

733
00:38:03,920 --> 00:38:06,920
Speaker 3: But the big idea here is much more powerful.

734
00:38:07,360 --> 00:38:11,400
Speaker 4: Can we create a fair, honest, transparent insurance company that

735
00:38:11,920 --> 00:38:15,319
Speaker 4: is made by the way, by a citizen of our

736
00:38:15,320 --> 00:38:20,279
Speaker 4: same neighborhoods. And the way that that fuses his Web

737
00:38:20,320 --> 00:38:22,760
Speaker 4: three is, you know y'all got projects.

738
00:38:22,800 --> 00:38:24,680
Speaker 3: I'm sure y'all. How many of y'all got a side hustle?

739
00:38:24,719 --> 00:38:27,960
Speaker 3: Hands up? Okay, how many of y'all full time entrepreneurs?

740
00:38:28,000 --> 00:38:28,440
Speaker 3: Hands up?

741
00:38:28,719 --> 00:38:31,400
Speaker 4: How many y'all thinking about becoming entrepreneur's hands up? How

742
00:38:31,440 --> 00:38:33,279
Speaker 4: many of y'all just got invested in stocks and shit?

743
00:38:33,400 --> 00:38:36,439
Speaker 3: Hands up? So everyone here is trying to get their bag.

744
00:38:37,239 --> 00:38:39,400
Speaker 4: So the way that this fuses the Web two with

745
00:38:39,440 --> 00:38:42,239
Speaker 4: the Web three thing is there's always a way. I

746
00:38:42,280 --> 00:38:44,440
Speaker 4: wouldn't view it as like, Yo, that's the new and

747
00:38:44,480 --> 00:38:47,080
Speaker 4: this is the present. I would look at ways that

748
00:38:47,120 --> 00:38:50,880
Speaker 4: you can introduce elements of what's going on into what

749
00:38:50,920 --> 00:38:51,399
Speaker 4: you're doing.

750
00:38:51,760 --> 00:38:53,560
Speaker 3: Much like how Kanye.

751
00:38:55,400 --> 00:38:59,960
Speaker 4: Teases out the new sounds and works into his presence

752
00:39:00,160 --> 00:39:02,720
Speaker 4: sound sounds that are e merging.

753
00:39:03,680 --> 00:39:04,960
Speaker 3: Well, so too is commerce.

754
00:39:05,640 --> 00:39:08,520
Speaker 4: You can work in elements of the future into your

755
00:39:08,520 --> 00:39:12,120
Speaker 4: present endeavor so that you can so that your fifteen

756
00:39:12,120 --> 00:39:14,920
Speaker 4: minutes could be as long as jay Z's you have

757
00:39:15,040 --> 00:39:16,080
Speaker 4: it bust.

758
00:39:16,280 --> 00:39:21,200
Speaker 5: Let's get into this metaverse conversation metaverse. What is going

759
00:39:21,239 --> 00:39:23,880
Speaker 5: on in the metaverse? Right now, everybody's talking about it,

760
00:39:24,000 --> 00:39:28,040
Speaker 5: people will still not really they don't know. On the fence,

761
00:39:28,200 --> 00:39:29,919
Speaker 5: they like, you're going to turn us into a whole

762
00:39:29,960 --> 00:39:33,000
Speaker 5: society of the matrix, like getting plugged into machines and

763
00:39:33,000 --> 00:39:33,399
Speaker 5: all of that.

764
00:39:33,800 --> 00:39:35,560
Speaker 3: What's the metaverse all about?

765
00:39:35,960 --> 00:39:39,560
Speaker 6: So everybody sort of defines the metaverse as something different

766
00:39:39,600 --> 00:39:41,680
Speaker 6: and right now it's sort of a buzzword and tech.

767
00:39:41,960 --> 00:39:44,880
Speaker 6: It doesn't actually mean anything, and it has a different

768
00:39:44,960 --> 00:39:49,640
Speaker 6: definition for everybody. But my definition of it is, you know,

769
00:39:49,760 --> 00:39:53,120
Speaker 6: quite similar to Web three. So it's you know, creating

770
00:39:53,520 --> 00:39:56,120
Speaker 6: new projects, communities, digital land.

771
00:39:56,719 --> 00:39:58,800
Speaker 3: The future, right the future.

772
00:39:58,560 --> 00:40:01,640
Speaker 6: Is sort of how I look at explaining what the

773
00:40:01,680 --> 00:40:04,280
Speaker 6: metaverse is. And the way that I see the future

774
00:40:04,280 --> 00:40:07,240
Speaker 6: playing out is you know, artists getting their fair share,

775
00:40:07,719 --> 00:40:12,560
Speaker 6: not needing permission from other people, and you know, being able,

776
00:40:12,680 --> 00:40:15,560
Speaker 6: you know, and that the fact that anybody in here

777
00:40:15,640 --> 00:40:20,520
Speaker 6: today can start something and you know, cultivate a strong

778
00:40:20,600 --> 00:40:25,280
Speaker 6: community and build something that is greater than the best

779
00:40:25,320 --> 00:40:29,279
Speaker 6: deal that the best whoever is high up in the

780
00:40:29,320 --> 00:40:32,160
Speaker 6: world that you're trying to excel in can give you

781
00:40:32,840 --> 00:40:35,319
Speaker 6: is is sort of where I see the future and

782
00:40:35,360 --> 00:40:39,920
Speaker 6: how I identify the metaverse, and then you know there

783
00:40:40,480 --> 00:40:43,080
Speaker 6: you know, other explanations like the way that Mark Zuckerberg

784
00:40:43,120 --> 00:40:46,160
Speaker 6: looks at it as is, you know, everything in our

785
00:40:46,200 --> 00:40:48,560
Speaker 6: life is going to be digital. So you're going to

786
00:40:48,600 --> 00:40:52,160
Speaker 6: be taking meetings in VR, and you're going to be

787
00:40:52,239 --> 00:40:56,160
Speaker 6: appearing in other cities as holograms, and you know the

788
00:40:56,200 --> 00:40:58,319
Speaker 6: way that that the reason that that is good is

789
00:40:58,320 --> 00:41:00,480
Speaker 6: that you don't have to be living in a specific city,

790
00:41:00,960 --> 00:41:04,239
Speaker 6: so it sort of takes down barriers of where you live,

791
00:41:04,719 --> 00:41:07,720
Speaker 6: where you're from, what your house looks like, all different things,

792
00:41:08,080 --> 00:41:10,880
Speaker 6: and it creates much more equality if everybody's in a

793
00:41:11,000 --> 00:41:14,200
Speaker 6: virtual meeting, whether it be as themselves or as like

794
00:41:14,239 --> 00:41:19,400
Speaker 6: a panda, because that's how it's really happening. Like my

795
00:41:19,520 --> 00:41:21,920
Speaker 6: Instagram profile right now is an NFT. It's not me,

796
00:41:22,640 --> 00:41:26,759
Speaker 6: and that is just another example of sure it's utility

797
00:41:26,840 --> 00:41:29,640
Speaker 6: because it's like, oh, I like that NFT project, or

798
00:41:29,680 --> 00:41:31,640
Speaker 6: there are other people that are in that, and then

799
00:41:31,680 --> 00:41:35,480
Speaker 6: they feel a sort of synergy with me because we

800
00:41:35,560 --> 00:41:39,279
Speaker 6: both own this thing. But what it really is is

801
00:41:40,719 --> 00:41:44,520
Speaker 6: you know an example of how people in the future

802
00:41:45,520 --> 00:41:50,080
Speaker 6: aren't just going to be expressing themselves as their physical form,

803
00:41:50,160 --> 00:41:52,880
Speaker 6: It's going to be as their avatar form. And that

804
00:41:52,960 --> 00:41:56,200
Speaker 6: also fits in pretty well with what the metaverse is.

805
00:41:56,239 --> 00:41:59,080
Speaker 6: But the metaverse to me, in short, is the future

806
00:41:59,160 --> 00:42:02,719
Speaker 6: of tech and you know, everybody having a chance in

807
00:42:02,760 --> 00:42:05,640
Speaker 6: a world where the companies all reward you for you know,

808
00:42:05,680 --> 00:42:08,880
Speaker 6: supporting them, depending on how early you supported them. I

809
00:42:08,880 --> 00:42:11,880
Speaker 6: think we're already in the metaverse, right. I agree with you.

810
00:42:13,760 --> 00:42:16,600
Speaker 6: We flew down a lot of our team, right. We

811
00:42:16,680 --> 00:42:19,640
Speaker 6: spent all day in Zoom and when we got to

812
00:42:19,680 --> 00:42:21,919
Speaker 6: meet in real life, it was like I already knew them.

813
00:42:22,880 --> 00:42:25,040
Speaker 4: We spend more time with each other now digitally as

814
00:42:25,080 --> 00:42:31,040
Speaker 4: well on social platforms. And imagine if you're watching TV.

815
00:42:31,280 --> 00:42:32,399
Speaker 3: My barber gave in this idea.

816
00:42:32,520 --> 00:42:35,399
Speaker 4: She blew my mind somehow barbers are like always ahead

817
00:42:35,400 --> 00:42:36,080
Speaker 4: of the curve.

818
00:42:37,280 --> 00:42:38,880
Speaker 3: He was like, yo, he was cutting me up.

819
00:42:38,880 --> 00:42:41,799
Speaker 4: He's like, yo, imagine you just watching TV and you

820
00:42:41,800 --> 00:42:44,600
Speaker 4: know you're watching like Lebron play and right now, like

821
00:42:44,680 --> 00:42:46,560
Speaker 4: you could just scan a q R crow whatever. It's like, Yo,

822
00:42:46,600 --> 00:42:48,840
Speaker 4: watch this game from like floor side right now, but

823
00:42:48,880 --> 00:42:50,239
Speaker 4: you got to pay ten bucks, would you do it?

824
00:42:50,840 --> 00:42:53,560
Speaker 3: Hell yeah, paying ten bucks? Boom, I'm in there.

825
00:42:53,719 --> 00:42:55,960
Speaker 4: And by the way, because of the way that the

826
00:42:56,120 --> 00:42:58,680
Speaker 4: social platforms are set up, you might be scrolling on

827
00:42:58,719 --> 00:43:02,560
Speaker 4: Instagram and that's gonna be the gateway to access the metaverse.

828
00:43:02,600 --> 00:43:04,480
Speaker 4: So now you're scrolling through, you like that experience, you

829
00:43:04,520 --> 00:43:06,560
Speaker 4: tap through? Boom, you're in there. And by the way,

830
00:43:06,680 --> 00:43:08,439
Speaker 4: who do you want to be? When you're in there?

831
00:43:08,680 --> 00:43:11,120
Speaker 4: You can pull up as a board a or as

832
00:43:11,200 --> 00:43:14,360
Speaker 4: a eyl character or whatever NFT that you have, and

833
00:43:14,480 --> 00:43:19,560
Speaker 4: now you're bringing person. You're personifying some of these NFTs

834
00:43:19,800 --> 00:43:23,799
Speaker 4: in this metascape. And that just sounds oh D futuristic.

835
00:43:23,880 --> 00:43:27,360
Speaker 4: I get I get it, but it's actually practically and

836
00:43:27,400 --> 00:43:30,280
Speaker 4: pretty tangibly not too far off from how we already

837
00:43:30,320 --> 00:43:34,320
Speaker 4: experience the world. And I'm gonna be keeping an eye

838
00:43:34,360 --> 00:43:36,560
Speaker 4: on how this thing, you know, plays out. But what

839
00:43:36,600 --> 00:43:39,560
Speaker 4: I can say is that the currency, the thing that

840
00:43:39,600 --> 00:43:43,680
Speaker 4: allows you to partake in the metaverse are gonna be

841
00:43:43,880 --> 00:43:47,799
Speaker 4: NFT collections. So go out there, find you some great

842
00:43:47,880 --> 00:43:51,640
Speaker 4: NFT collections and view them as stock. If a stock

843
00:43:51,680 --> 00:43:55,680
Speaker 4: takes off, you know, if you got one, share cool story.

844
00:43:55,719 --> 00:43:57,840
Speaker 4: But if you know, if you have a healthy exposure

845
00:43:57,840 --> 00:43:59,880
Speaker 4: and you got a portfolio of NFT projects, is going

846
00:43:59,920 --> 00:44:02,880
Speaker 4: to afford you the ability to take place and to

847
00:44:02,960 --> 00:44:06,239
Speaker 4: take to partake in all different types of projects of

848
00:44:06,320 --> 00:44:07,279
Speaker 4: growth and so on.

849
00:44:07,880 --> 00:44:11,360
Speaker 3: It's a fact. So let me ask you this before

850
00:44:11,360 --> 00:44:11,719
Speaker 3: we wrap.

851
00:44:11,800 --> 00:44:14,520
Speaker 5: John, We're gonna bring trap and Ian out next and

852
00:44:14,520 --> 00:44:16,600
Speaker 5: they're gonna be talking about stocks. And I got a

853
00:44:16,600 --> 00:44:18,640
Speaker 5: lot of money in the stock market. But I was

854
00:44:18,680 --> 00:44:22,520
Speaker 5: talking to Humble and Humbles a financial advisa, very very

855
00:44:22,520 --> 00:44:26,960
Speaker 5: sharp guy. He's Charlemagne's financial advisa, Easter Ray's financial advisa,

856
00:44:27,000 --> 00:44:31,480
Speaker 5: Alonzo Ball gentlemen from Africa, and he was saying, like,

857
00:44:31,560 --> 00:44:34,000
Speaker 5: you know, in the next five years, like the amount

858
00:44:34,040 --> 00:44:36,360
Speaker 5: of money that's gonna be made in the private markets

859
00:44:36,880 --> 00:44:39,399
Speaker 5: is just gonna be astronomical. And once again, we're kind

860
00:44:39,400 --> 00:44:41,440
Speaker 5: of getting left. When I say we, we as a

861
00:44:41,440 --> 00:44:45,400
Speaker 5: community is getting left on the train because most of

862
00:44:45,480 --> 00:44:48,040
Speaker 5: us don't even have the opportunity to invest in private companies.

863
00:44:48,080 --> 00:44:50,000
Speaker 5: We don't have the knowledge to invest in private companies.

864
00:44:50,040 --> 00:44:53,759
Speaker 5: But that's that's where you make your one hundred x

865
00:44:53,800 --> 00:44:58,000
Speaker 5: thousand x is in not necessarily the public markets and

866
00:44:58,040 --> 00:44:58,960
Speaker 5: the private markets.

867
00:44:59,200 --> 00:45:02,040
Speaker 3: You were an angel investor.

868
00:45:01,680 --> 00:45:03,799
Speaker 5: You had a VC firm and now you actually have

869
00:45:03,840 --> 00:45:05,400
Speaker 5: a startup where you've raised money.

870
00:45:05,560 --> 00:45:08,480
Speaker 4: Can you talk about private markets a little bit? Yeah, yeah,

871
00:45:08,480 --> 00:45:10,319
Speaker 4: we can spend some time there. I mean, look, all

872
00:45:10,680 --> 00:45:13,600
Speaker 4: all the stocks that you guys buy in the public markets,

873
00:45:13,960 --> 00:45:17,920
Speaker 4: they've already done made money for all the early investors,

874
00:45:17,960 --> 00:45:21,719
Speaker 4: they done got paid out. And in twenty eighteen, when

875
00:45:21,719 --> 00:45:24,240
Speaker 4: we had the record wave about IPOs, shit, in twenty twenty,

876
00:45:25,800 --> 00:45:28,680
Speaker 4: there's a new there's a new vehicle called a spack

877
00:45:28,880 --> 00:45:31,960
Speaker 4: that effectively allows you to go public without any scrutiny

878
00:45:31,960 --> 00:45:33,959
Speaker 4: from the banks, which, by the way, I think should

879
00:45:34,000 --> 00:45:35,240
Speaker 4: be damn, you're illegal.

880
00:45:36,040 --> 00:45:37,719
Speaker 3: However, it unlocks a lot of liquidity.

881
00:45:37,760 --> 00:45:40,279
Speaker 4: And when the spacks you know, came out, a lot

882
00:45:40,280 --> 00:45:42,359
Speaker 4: of private operators were like, damn, we've raised a lot

883
00:45:42,440 --> 00:45:45,600
Speaker 4: of money in the private markets. At some point you

884
00:45:46,160 --> 00:45:47,960
Speaker 4: get the biggest check that you're gonna get from the

885
00:45:48,000 --> 00:45:50,080
Speaker 4: private markets, so then you go public.

886
00:45:50,280 --> 00:45:51,480
Speaker 3: And so in twenty twenty we.

887
00:45:51,440 --> 00:45:55,120
Speaker 4: Saw spack after spack, after IPO after IPO, and guess

888
00:45:55,120 --> 00:45:58,560
Speaker 4: what eighty six percent of those profits went to but

889
00:45:58,680 --> 00:46:01,600
Speaker 4: a handful of firms, and guess what those firms were.

890
00:46:01,640 --> 00:46:03,040
Speaker 3: But in a handful of zip codes.

891
00:46:03,800 --> 00:46:07,000
Speaker 4: Okay, so they was coming from Silicon Valley, and I'm

892
00:46:07,600 --> 00:46:11,200
Speaker 4: in this game to democratize where those proceeds come go

893
00:46:11,360 --> 00:46:17,560
Speaker 4: to when we I PO. But interestingly, you know who's

894
00:46:18,760 --> 00:46:22,919
Speaker 4: left holding the bag are regular people because guess who

895
00:46:22,920 --> 00:46:28,319
Speaker 4: buy these i pos pension funds. Okay, so like the

896
00:46:28,440 --> 00:46:31,040
Speaker 4: unions and shit to represent teachers and the public school

897
00:46:31,080 --> 00:46:33,800
Speaker 4: system and all these people that pull together their money

898
00:46:33,800 --> 00:46:37,520
Speaker 4: from everyday people. They buy these overpriced as IPOs, and

899
00:46:37,560 --> 00:46:39,520
Speaker 4: then they take a bath when the when the market

900
00:46:39,560 --> 00:46:43,880
Speaker 4: corrects them, and yet again it's another opportunity. It's another

901
00:46:44,320 --> 00:46:48,400
Speaker 4: very stark example of how you know when your privileged

902
00:46:48,440 --> 00:46:50,480
Speaker 4: you have access to investing these deals is you can't

903
00:46:50,520 --> 00:46:52,440
Speaker 4: even get in these deals unless you're what's called an

904
00:46:52,440 --> 00:46:57,239
Speaker 4: a credited investor. However, you know, I'm not even like

905
00:46:57,280 --> 00:46:59,960
Speaker 4: the Web three guy, like that's not really my jam,

906
00:47:00,080 --> 00:47:02,960
Speaker 4: but it's coming to me right now, revelation. I really

907
00:47:03,000 --> 00:47:06,640
Speaker 4: do feel like we should be looking at NFT projects

908
00:47:06,680 --> 00:47:11,680
Speaker 4: as the democratization of even private rounds, because you know,

909
00:47:11,920 --> 00:47:15,200
Speaker 4: I don't you don't need to have a million dollars

910
00:47:15,200 --> 00:47:17,799
Speaker 4: in network to part to participate in these things, and

911
00:47:17,920 --> 00:47:20,520
Speaker 4: these projects the best run ones. You should be looking

912
00:47:20,520 --> 00:47:23,200
Speaker 4: for projects that are going to run like businesses produce revenue.

913
00:47:23,560 --> 00:47:26,279
Speaker 4: And so in that same way, you guys have a

914
00:47:26,360 --> 00:47:29,360
Speaker 4: chance right now to buy Twitter at a few dollars

915
00:47:29,360 --> 00:47:29,719
Speaker 4: a share.

916
00:47:30,239 --> 00:47:32,000
Speaker 5: What's so crazy? Not to cut you off, but it's

917
00:47:32,040 --> 00:47:34,319
Speaker 5: my brother nineteen Keys. We talk all the time, and

918
00:47:35,200 --> 00:47:37,319
Speaker 5: we actually had that conversation where it's like, I feel

919
00:47:37,320 --> 00:47:40,440
Speaker 5: like NFTs can become the new public offering, whereas like

920
00:47:40,560 --> 00:47:42,880
Speaker 5: NAS recently didn't with his he had two songs that

921
00:47:42,920 --> 00:47:46,600
Speaker 5: he put on royal and whoever owned it got royalties,

922
00:47:46,680 --> 00:47:49,560
Speaker 5: has royalties in the song. So what's stopping a company

923
00:47:49,880 --> 00:47:52,800
Speaker 5: from saying, okay, instead of going public in the private market,

924
00:47:53,360 --> 00:47:56,080
Speaker 5: I'm gonna go public in public market.

925
00:47:55,760 --> 00:47:57,000
Speaker 3: Exactly and offer.

926
00:47:57,120 --> 00:48:00,759
Speaker 5: And now you can raise one hundred million dollars by

927
00:48:00,880 --> 00:48:03,280
Speaker 5: offering your NFT. And now if you own an NFT,

928
00:48:03,520 --> 00:48:05,279
Speaker 5: now you have equity in the company.

929
00:48:05,760 --> 00:48:08,759
Speaker 6: So there are two levels of public public offerings really

930
00:48:08,760 --> 00:48:11,680
Speaker 6: an NFTs. The first is when the NFT comes out

931
00:48:11,719 --> 00:48:13,880
Speaker 6: and the second is when the coin comes out. So

932
00:48:14,160 --> 00:48:17,200
Speaker 6: for the apes, for example, there are tons of everyday

933
00:48:17,239 --> 00:48:20,080
Speaker 6: people who's you know, we're in hundreds of thousands of

934
00:48:20,080 --> 00:48:24,200
Speaker 6: dollars of debt who bought an ape and it made

935
00:48:24,560 --> 00:48:28,440
Speaker 6: you know, miracles happen. That is that one hundred two

936
00:48:28,520 --> 00:48:31,719
Speaker 6: hundred five hundred thousand x that before was you know,

937
00:48:32,239 --> 00:48:35,719
Speaker 6: unreachable and literally inaccessible for everybody else.

938
00:48:35,800 --> 00:48:37,919
Speaker 3: So that exists today, it's out there.

939
00:48:38,360 --> 00:48:41,239
Speaker 6: The question is how do you find those and how

940
00:48:41,280 --> 00:48:44,560
Speaker 6: do you identify people who are good business operators? And

941
00:48:44,640 --> 00:48:46,759
Speaker 6: the thing that I personally look for is people who

942
00:48:46,760 --> 00:48:48,960
Speaker 6: have a track record. That's the only way that I

943
00:48:49,000 --> 00:48:52,080
Speaker 6: can say, Okay, this guy, he's he has a big

944
00:48:52,120 --> 00:48:56,240
Speaker 6: company and he's done successful things, maybe even in collectibles before,

945
00:48:56,800 --> 00:49:00,160
Speaker 6: and that's how I personally identify them. And something that

946
00:49:00,200 --> 00:49:02,919
Speaker 6: I like too as docks founders because from what I've

947
00:49:02,960 --> 00:49:05,520
Speaker 6: found is that the majority of quote unquote rug pulls,

948
00:49:05,520 --> 00:49:07,880
Speaker 6: people who start a project, take money and then leave it,

949
00:49:08,360 --> 00:49:10,839
Speaker 6: are people who are anonymous, because that's something that's very

950
00:49:10,920 --> 00:49:13,480
Speaker 6: popular in the NFT space. So I look for people

951
00:49:13,480 --> 00:49:16,200
Speaker 6: who have something public facing to lose if they fail,

952
00:49:16,560 --> 00:49:18,840
Speaker 6: because there's more on the line for them and they're less.

953
00:49:18,640 --> 00:49:23,520
Speaker 3: Likely to leave the project. Like eyl yep not.

954
00:49:23,719 --> 00:49:26,840
Speaker 5: What you said was extremely important and I think people

955
00:49:26,960 --> 00:49:29,120
Speaker 5: kind of missed that a lot like that's really the

956
00:49:29,160 --> 00:49:31,720
Speaker 5: only reason why we invested in Loop is because anything

957
00:49:31,760 --> 00:49:34,640
Speaker 5: that John does, if I have an opportunity to get involved,

958
00:49:34,640 --> 00:49:37,360
Speaker 5: I mean, it's kind of a no brainer. A he's

959
00:49:37,640 --> 00:49:40,520
Speaker 5: like a real genius. But also he has a proven

960
00:49:40,600 --> 00:49:44,960
Speaker 5: track record. So it's like I invested in the company.

961
00:49:45,000 --> 00:49:47,839
Speaker 5: Not so much because I know the insurance game so much,

962
00:49:47,880 --> 00:49:49,839
Speaker 5: but I know him, like you know what I mean.

963
00:49:49,920 --> 00:49:53,080
Speaker 5: So I believe in the CEO, I believe in the founder.

964
00:49:53,840 --> 00:49:56,840
Speaker 5: No different than Apple, right, no different than Amazon, no

965
00:49:56,960 --> 00:49:59,440
Speaker 5: different than Tesla. People are investing in Tesla because they

966
00:49:59,480 --> 00:50:03,600
Speaker 5: really believe even Elon Musk's vision. So the same rules

967
00:50:03,640 --> 00:50:08,120
Speaker 5: that apply to you know stocks, same rules apply to crypto,

968
00:50:08,440 --> 00:50:11,200
Speaker 5: same rules apply to NFTs. Look at the project, look

969
00:50:11,200 --> 00:50:13,720
Speaker 5: at the people behind the project, look at their track record,

970
00:50:14,400 --> 00:50:17,520
Speaker 5: and usually that's a decent indicator, at least a good

971
00:50:17,560 --> 00:50:20,120
Speaker 5: indicator of you know, what to expect in the future.

972
00:50:20,280 --> 00:50:22,640
Speaker 6: And one other thing to listen to what they say

973
00:50:22,680 --> 00:50:25,200
Speaker 6: their goals are. Do they want to launch you know

974
00:50:25,280 --> 00:50:27,680
Speaker 6: tokens one day? Do they want to launch businesses on

975
00:50:27,760 --> 00:50:29,880
Speaker 6: the side, or do they look at it as just

976
00:50:30,080 --> 00:50:32,040
Speaker 6: art Because a lot of people look at it as

977
00:50:32,160 --> 00:50:35,840
Speaker 6: just art and that will tell you today that Okay,

978
00:50:35,840 --> 00:50:38,480
Speaker 6: there aren't going to be additional revenue streams coming from this,

979
00:50:38,560 --> 00:50:40,640
Speaker 6: so pay close attention to what they're saying.

980
00:50:40,640 --> 00:50:44,560
Speaker 3: Their goals are south by Southwest Man, make some noise

981
00:50:44,640 --> 00:50:48,120
Speaker 3: for John and Buster. Yes, yes, yes, yes, high level conversation.

982
00:50:50,680 --> 00:50:55,480
Speaker 2: My graduates from my school being forced back drop bag

983
00:50:55,680 --> 00:51:00,319
Speaker 2: drop Mike, drop backdropp.

984
00:51:09,880 --> 00:51:13,759
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985
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