Speaker 1: Coach, the energy out there felt different. What changed for
Speaker 1: the team today?
Speaker 2: It was the new game day scratches from the California
Speaker 2: Lottery players.
Speaker 3: Everything. Those games sent the team's energy through the roof.
Speaker 1: Are you saying it was the off field play that
Speaker 1: made the difference on the field.
Speaker 3: Hey, little play makes your day, and today it made
Speaker 3: the game. That's all for now, coach, one more question.
Speaker 1: Play the new Los Angeles Chargers, San Francisco forty nine
Speaker 1: ers and Los Angeles Rams scratchers from the California Lottery.
Speaker 1: A little play can make your day. Peace made responsibilit
Speaker 1: must be eighteen years or older to purchase late or
Speaker 1: claim well.
Speaker 4: I mentioned I was buying the dot Eath domains pretty
Speaker 4: much like Go Daddy of Web three. I had manfucking
Speaker 4: coins and I said, well, what's the value of these coins?
Speaker 4: And you know, when you register your coins, there's like
Speaker 4: an official registry and then they peg a value. Value
Speaker 4: was seventeen dollars per I only spent three grand on
Speaker 4: the domains? Is it true that this shit has war
Speaker 4: seventeen thousand? I sold all the coins and I took
Speaker 4: the cash out. When's the last time Go Daddy gave
Speaker 4: you anything for owning a dot com.
Speaker 2: My graduates from my SKO being forced back drop b drop,
Speaker 2: Mike drop backdrop.
Speaker 5: If y'all love E y L, I need you to
Speaker 5: make some noise please. I got my guy John Henry.
Speaker 5: Y'all know John.
Speaker 3: Legend, buster Ship. If you're a true E y L you.
Speaker 5: Know he was the first person on our platform to
Speaker 5: speak about n f T S for anybody else. That's
Speaker 5: a very little known secret, so only the diehard E
Speaker 5: y L fans know about that.
Speaker 3: But we got a jam Pat Day for you, guys. Man.
Speaker 5: We got these two legends right now, My brother Troy,
Speaker 5: he's coming on next with the one and only Master Investor.
Speaker 3: He and Dounlap Wall Street Trapper we got.
Speaker 5: We got the O g Be's gonna come a town,
Speaker 5: DJ Michael Watts. Of course my god Tolby Wigway Legend
Speaker 5: Legure themself.
Speaker 3: So you know it's a vive man.
Speaker 5: Shout out to Ally, shout out to our partners at
Speaker 5: United Masters. Every time we get together, we make magic happen.
Speaker 5: So just want to thank you guys for coming out.
Speaker 5: Were about to get it to it. Let's do it.
Speaker 3: All right, So the moment you've all been waiting for.
Speaker 5: This is a conversation that I'm excited to actually ask
Speaker 5: to host this panel because I felt like this is
Speaker 5: something that we don't get a chance to talk about
Speaker 5: a lot. We talk about stocks, a lot, real estate
Speaker 5: a lot, and I love I love both of those.
Speaker 5: But you know, I get into a whole different vibe
Speaker 5: when we talk about NFTs, crypto and Web three point
Speaker 5: zero and this is what we you know, we're in
Speaker 5: the future, So we're in the future now, so it's
Speaker 5: important to educate ourselves and know what's going on. So
Speaker 5: John Henry really needs no introduction, but I'll give one.
Speaker 5: He actually is based in Austin now from New York,
Speaker 5: co founder of Harlem Capital, Legendary hallm Capital for Black Brothers. Yeah,
Speaker 5: give it a clap for that. That started the legendary
Speaker 5: venture capital firm. Then now what he's doing now is
Speaker 5: the CEO of Loop Loop Car Insurance. So Loop Car
Speaker 5: Insurance has revolutionized the car insurance industry. And we got
Speaker 5: to thank him because he gave us our opportunity for
Speaker 5: our first angel investment, our first ever angel investment was
Speaker 5: into his career.
Speaker 3: Yes, sir, I appreciate you. I appreciate you. For that.
Speaker 3: Sean Henry's a whiz kid.
Speaker 5: Man knows everything when it comes to the you know,
Speaker 5: valuations and selling the company and all of this stuff.
Speaker 5: Man extremely extremely smart guy. And then Buster Shire, like
Speaker 5: I said, if you don't if you don't know, you
Speaker 5: should check his episode out, episode one thirty of EYL.
Speaker 5: Last April. We spoke and Buster he's a whiz kid
Speaker 5: for real. Twenty one years old. He's the founder of
Speaker 5: hoop Nation, which is an Instagram page has one million followers,
Speaker 5: five million followers on TikTok. He is the voice of
Speaker 5: the Crew League on Revolt, and he's an avid NFT investor.
Speaker 5: He actually we talk about it, but he spoke save it.
Speaker 5: I'll save it for later. But he If you listen
Speaker 5: to his episode and actually did some of the things
Speaker 5: that he said, you made a lot of money. If
Speaker 5: you didn't, then shames on you. But first and foremost,
Speaker 5: thank you guys. I appreciate it absolutely, absolutely.
Speaker 3: Yo.
Speaker 4: First things first, every time I'm proud of this one,
Speaker 4: every time I've jumped on the EYL platform, I've first
Speaker 4: started by paying respect to the brothers at EYL, because
Speaker 4: it wasn't that long ago when someone got me hooked
Speaker 4: up with them episode forty five, and I pulled up
Speaker 4: to Troy's crib in like yonkers in their living room,
Speaker 4: and they was talking about doing really big things. And
Speaker 4: I don't know if y'all been keeping up, but they've
Speaker 4: been doing some really big things. So I'm gonna need
Speaker 4: Jah to make some noise for Ernie Leisure because every
Speaker 4: generation we have a couple of superstars that emerge, and
Speaker 4: this is that time right now with these brothers.
Speaker 5: So so agreed. Appreciate that, brother, So let's get into this.
Speaker 5: So Bust, I'm gonna start with you. Let's start with
Speaker 5: this NFT conversation. So if you listen to his episode
Speaker 5: when he came on in April, he talked about crypto punks,
Speaker 5: he talked about board Apes, he talked about open Sea,
Speaker 5: and that was early crypto punks.
Speaker 3: How much was it at that time?
Speaker 6: So the floor of crypto punks was about twenty thousand
Speaker 6: at the time, it's about two hundred thousand now and
Speaker 6: board Apes was had just minted and they minted at
Speaker 6: point zero eight eighth and now it's at about three
Speaker 6: hundred thousand dollars.
Speaker 3: See, all you got to do is listen.
Speaker 5: So let's let's back it up because I still feel
Speaker 5: like a lot of people don't fully understand what what
Speaker 5: NFTs are. So before we go into two and depth,
Speaker 5: can we just go up with some basic terms. When
Speaker 5: you when you talk about a floor, right, can you
Speaker 5: explain to them what a flow in an NFT project is.
Speaker 6: Yeah, So a floor of an NFT project is essentially
Speaker 6: the cheapest that you can buy, said NFT FO. Usually
Speaker 6: projects have between five thousand and ten thousand total supply.
Speaker 6: The best ones will be the highest and the worst
Speaker 6: per se will be at what.
Speaker 3: Is the floor? Which is the cheapest you can get
Speaker 3: one for? So minting, what is minting?
Speaker 6: Minting is getting it when it first comes out, so
Speaker 6: you're the first person to own it, and you have
Speaker 6: to pay gas to actually receive it from wherever they
Speaker 6: put it out initially from and usually it's a it's blind,
Speaker 6: so you don't know which one you're going to get.
Speaker 6: So you're minting an NFT in a project. You know
Speaker 6: you're going to get one from the project, but you
Speaker 6: don't know which one you're going to get.
Speaker 3: That is minting. Well, somebody says they pulled the rug,
Speaker 3: what was them?
Speaker 6: So a rug is essentially when somebody launches a project,
Speaker 6: makes all these promises and then doesn't fulfill those promises.
Speaker 6: That is what's called getting rugged, which is when a
Speaker 6: founder just leaves the project entirely. Similar to where in
Speaker 6: like a traditional business standpoint, if somebody took a bunch
Speaker 6: of investment and then said, I don't really care about
Speaker 6: this company anymore.
Speaker 3: So all right, now you got some basic terms.
Speaker 4: Let me also paint a little context, because I feel
Speaker 4: like this NFT shit kind of came out of nowhere.
Speaker 4: I don't know if you guys agree, but I'm seeing
Speaker 4: Heineken and Budweiser and a lot of corporates now. I
Speaker 4: like to pay attention to big money because they don't
Speaker 4: do shit for the fun of it. They do it
Speaker 4: because there's money to be made. And it wasn't that
Speaker 4: long ago that some of the first projects were emerging. Now,
Speaker 4: I had long since been following crypto and people was
Speaker 4: talking about yo by you know, bitcoin all other stuff,
Speaker 4: and people made a lot of money doing that. But
Speaker 4: I'm not a currency trader. I'm busy. I run a
Speaker 4: fifty five person company, you know, and we're trying to
Speaker 4: change it at financial services. But it's my job as
Speaker 4: a co SEO to pay attention to friends. And what
Speaker 4: happened was a collectible layer came emerged on top of
Speaker 4: the cryptocurrencies. So now it's not just you trading coins,
Speaker 4: like trading dollars and pounds. It's like now people made
Speaker 4: stuff on top of it that you can collect, right.
Speaker 4: And so if a pop and ass artist, for example,
Speaker 4: makes a limited collection of a certain type of art,
Speaker 4: people can buy and sell those and it's really cool
Speaker 4: for artists, including musicians, because they get a perpetuity of
Speaker 4: the royalties. So like Boskio, for example, he only sold
Speaker 4: that art one time and only made money that one time.
Speaker 4: But now we have a device that allows the artists
Speaker 4: to collect royalties and perpetuity. And so there's signal and
Speaker 4: then there's noise. Noises when you can't decipher the value,
Speaker 4: signals when there's value. So the noise is all the speculation.
Speaker 4: How these fucking apes were three hundred thousand, I have
Speaker 4: no clue, but paying attention to the signal, the signal
Speaker 4: is big corporates moving in the signal is NFTs potentially
Speaker 4: having more utility beyond just trading apes. It might be
Speaker 4: the future of how leases are done, the way you
Speaker 4: buy all different types of things can be NFTs in
Speaker 4: the future. So I wanted to start this conversation first
Speaker 4: by contextualizing. I don't want you, guys, don't make the
Speaker 4: mistake of discarding this. We can't afford to do that
Speaker 4: as a community. I'm gonna keep it a buck with
Speaker 4: y'all right now, because the bank consystem done left us
Speaker 4: out at the FAHA program in nineteen sixty five when
Speaker 4: it was the single greatest driver of personal wealth in
Speaker 4: this country. Okay, so we have a new revolution right now,
Speaker 4: as Rashad was saying, So don't make the mistake to
Speaker 4: discard this, discard the noise, and pay attention to the signal.
Speaker 5: That's a fact, ladies and gentlemen, John Henry, waste no time.
Speaker 5: It's like a heavyweight fighter just came out swinging. So
Speaker 5: all right, so let me ask you guys this, both
Speaker 5: of you guys. You can chime in. What's the future
Speaker 5: of NFTs. Do you think we want to talk about utilities?
Speaker 5: And you can kind of explain utilities a little bit
Speaker 5: more if you want. But a lot of projects are
Speaker 5: starting to, you know, go down in value, like any
Speaker 5: new emerging industry, like even with crypto a couple of
Speaker 5: years ago when a lot of coins went to zero.
Speaker 5: But I always say, like the dot Com era, most
Speaker 5: of those companies went to zero, Crypto, most of those
Speaker 5: coins went to zero.
Speaker 3: But the Internet is still here.
Speaker 5: Doesn't devalue the Internet, it doesn't devalue cryptocurrency. So what
Speaker 5: do you feel for the naysayers that says like this
Speaker 5: is just a one time thing and it's going to
Speaker 5: be going next year. And how do you feel about
Speaker 5: utility because that's where I see the value is in
Speaker 5: more of a utility of projects.
Speaker 3: Yeah, utility is one hundred percent of value.
Speaker 6: I think the projects that haven't panned out since you know,
Speaker 6: we first started talking about NFTs last April are the
Speaker 6: ones that don't have utility. And the ones that do
Speaker 6: are those where they actually send you physical things. They
Speaker 6: give you tokens, they give you a lot of these
Speaker 6: projects give you digital land where there are these metaverses
Speaker 6: where they give each holder plots of those land, and
Speaker 6: people who hold conferences and share and talk and educate people,
Speaker 6: those are the ones that I've seen do the best.
Speaker 6: The future is in everything, right, Like you mentioned, royalties
Speaker 6: think about that for a traditional artist that has to
Speaker 6: pay to rent Madison Square Garden. Let's say Drake's coming
Speaker 6: to New York, he plays at MSG, he pays the venue,
Speaker 6: then they sell some of the tickets. The arena gets
Speaker 6: a cut of that too. Now he so before he
Speaker 6: sold that front row ticket for ten thousand dollars and
Speaker 6: that was it. The resaler then sold it for twenty thousand.
Speaker 6: The resaler of the resaler sold it for forty thousand.
Speaker 6: But now if that ticket is an NFT and it
Speaker 6: can't be converted without ten percent going to the original artist,
Speaker 6: now Drake's making you know, fifteen to twenty twenty five
Speaker 6: thousand just from resales of those tickets. So think about
Speaker 6: that across the board for every sporting event, for every concert,
Speaker 6: For an event like this, even if there were if
Speaker 6: entry costs money and it was a limited amount of
Speaker 6: tickets and you had to pay to get in, and
Speaker 6: more people wanted to get in, then could fit everybody
Speaker 6: here would resell theirs, but at least a percentage of
Speaker 6: that would go back to the original creator. So the
Speaker 6: way that money is going to be sent and brought
Speaker 6: back to the original creator of anything, whether it be
Speaker 6: a podcast or a concert or a sporting event is
Speaker 6: changed forever.
Speaker 4: Let me double click on that. I think that's a
Speaker 4: great building block. I was upstairs early. I've seen a
Speaker 4: lot of rolexes and people pull up and whips and
Speaker 4: you know, it's an investment. It's an investment, right right, right.
Speaker 4: There's a reason people buy those things, right Like I
Speaker 4: got a couple too, We got a couple of nice toys.
Speaker 4: There's all things that we that will invest our discretionary
Speaker 4: income on. And it's really no different in this new era,
Speaker 4: with this new type of currency. There's collections that are
Speaker 4: you know, rising and value and they're a lot more
Speaker 4: valuable than a rolex. And let me underpin a really
Speaker 4: critical fact of Web three, and that is your wallet
Speaker 4: is public. Yep, it's a publicly accessible wallet. I can
Speaker 4: go check out what you own and what you own
Speaker 4: and what you own. And so with that dynamic, you know,
Speaker 4: it's it's playing off of human behavior in the sense
Speaker 4: that the same reason you buy the bends or the rolex,
Speaker 4: it's the same reason why you're going to buy into
Speaker 4: some of the collections and show them off. And if
Speaker 4: you look on VC Twitter right now, you're going to
Speaker 4: see a lot of profile pictures of different collections because
Speaker 4: they just want to show off what tribe they belong to,
Speaker 4: what they believe in, and so on. So that's one
Speaker 4: aspect is the social behavior. The economics is important to
Speaker 4: underpin as well, especially now because you know it's south
Speaker 4: by Southwest. You know music portion Before you would have
Speaker 4: to go to a label to get funded and discovered,
Speaker 4: but web three democratizes access and it effectively becomes a
Speaker 4: vehicle by which you can fund your own projects. Fuck
Speaker 4: you got to get the approval of a label for
Speaker 4: now when you can just go directly to your fans
Speaker 4: put out an NFT that allows you to monetize the
Speaker 4: direct relationship but you have with your community, and now
Speaker 4: you have the capital to make a bang and ask album,
Speaker 4: you know, do activations and go on tour. So don't
Speaker 4: ignore this as a mechanization of monetizing the relationship you
Speaker 4: have with your community directly.
Speaker 3: Oh one other thing that I would add too.
Speaker 6: You know, I remember at the beginning of twenty twenty
Speaker 6: one when we first started talking about NFTs and a
Speaker 6: lot of people that I would.
Speaker 3: Send it to and be like, you should take a
Speaker 3: look at this. This is interesting.
Speaker 6: I think this could be the future of traditional collectibles
Speaker 6: think sports cards, memorabilia, sign things, whatever it may be.
Speaker 6: And they're like, well, there's no intrinsic value. I'm like, well,
Speaker 6: there's no intrinsic value.
Speaker 3: None of the other stuff either.
Speaker 6: The difference between in raw material value between the greatest
Speaker 6: Michael Jordan Rookie card and this board ape is about
Speaker 6: one penny because of the cardboard that it was printed on,
Speaker 6: maybe less so when you start, when you push that aside,
Speaker 6: at least you're able to look at it as okay,
Speaker 6: a lot of these things are equally. There's no intrinsic
Speaker 6: value of something that was done by da Vinci per se.
Speaker 6: The material value is very minimal. It's what we as
Speaker 6: a society put on that. And the great thing about
Speaker 6: you know, NFTs and digital things is, you know, like
Speaker 6: you mentioned, if somebody, if somebody owns a da Vinci
Speaker 6: and they keep it in their house high security.
Speaker 3: You know, we don't we don't see it.
Speaker 6: Whereas every wallet, my wallet, you know, everybody else's wallet
Speaker 6: is publicly available to see and see what those things are.
Speaker 6: So it really is a museum that travels with.
Speaker 3: You in your pocket.
Speaker 6: And Uh, once you sort of get over the intrinsic
Speaker 6: value home, which is that I saw early on from
Speaker 6: people that I was friends with IRL, it all starts
Speaker 6: to make a lot more sense.
Speaker 3: So I wanted to say that too.
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Speaker 3: Yeah there's no intrinsic value in almost anything. Really.
Speaker 5: I mean the American dollar, what's the intrinsic value. There's
Speaker 5: just the faith that we have in it's back by
Speaker 5: the military. Goal you know has some uses, but most
Speaker 5: people don't use goal like that. They just hoard it.
Speaker 5: It's like, you know, that's why he said bitcoin is
Speaker 5: like digital goal. Housing has value, but even that it's subjective,
Speaker 5: Like a house in here could be the same exact
Speaker 5: house in the house in New York, but the house
Speaker 5: in New York is worth ten times more. Like why
Speaker 5: because people think that New York real estate is worth
Speaker 5: more than Texas real estate. As soon as they start
Speaker 5: to think differently than everything changes. So I think that
Speaker 5: that's very important what you said. We have to get
Speaker 5: out of that because that is something that people say like, well,
Speaker 5: it has no value. Well, you know a lot of
Speaker 5: things have no value. So let me if you look
Speaker 5: at it like that, a lot of things do have
Speaker 5: a lot of value. So you both of you guys
Speaker 5: not only talk about NFTs, but you own NFTs as well. Right,
Speaker 5: So what for people that's looking to invest in NFT projects,
Speaker 5: what are some things that they need to take into
Speaker 5: consideration when looking at this is a good project to
Speaker 5: invest in, this is a bad product to invest in.
Speaker 3: On the note of tangible value.
Speaker 4: You know what does have tangible value and it's not
Speaker 4: subject to fluctuating sentiment. Is income produce in real estate.
Speaker 4: Because the way that you value real estate is based
Speaker 4: off the cash flow. I'm gonna tell you guys, something's
Speaker 4: gonna blow your mind right now. I own a few
Speaker 4: multi family properties. They produce cash flow. I sold one
Speaker 4: of those buildings, I took the earnings, it's a five
Speaker 4: hundred thousand, and I put I went all in into NFTs.
Speaker 4: Here's why I pay attention to the startup markets. I
Speaker 4: pay attention to the public markets. Right right now, there's
Speaker 4: a public market correction, so all the public companies are
Speaker 4: coming down to value. But even six months ago everything
Speaker 4: was at an all time high, and I'm trying to
Speaker 4: make sense of it. People are paying all time high
Speaker 4: values on multiples of revenue in the public markets. In
Speaker 4: the private market, it's even real estate. I'm getting some
Speaker 4: cash flow, but not a whole lot. And so what
Speaker 4: I need us to understand as a community is that
Speaker 4: every once in a while, there's a generational shift and
Speaker 4: potentially the emergence of a new asset class. I want
Speaker 4: you guys to view this as an asset class, and
Speaker 4: when you're looking at it from the perspective of price
Speaker 4: arbitrage and pricing inefficiency, I believe that there's a lot
Speaker 4: of room for NFT floors and prices to go way up.
Speaker 4: So I said, all right, I bet if I lose
Speaker 4: this half a M, that's gonna hurt. But if Web
Speaker 4: three plays out, it'll change my life. I get chills
Speaker 4: saying that shit. You guys, put a little bit of
Speaker 4: money and like, Ian is gonna smack me outside the
Speaker 4: head because he's you know, he's got like the long
Speaker 4: term investment principles.
Speaker 3: But if you invest a little bit.
Speaker 4: Of money on a prolonged basis in the market, bet
Speaker 4: you're gonna be up eight to fifteen percent if you
Speaker 4: find the opportunity that's generational. Like we didn't have a
Speaker 4: chance to invest in Amazon when Amazon was being founded
Speaker 4: in nineteen ninety five. You feel me like it's the
Speaker 4: two three year window. It's the twelve to eighteen twenty
Speaker 4: four months where a lot of these projects are gonna
Speaker 4: be within reach and we have to make decisions as
Speaker 4: a community, Are we gonna buy public stocks that are
Speaker 4: that are blue chip and then they're gonna give you
Speaker 4: a three percent yield? But remember scare money, don't make
Speaker 4: no money. And plus I don't know about y'all, but
Speaker 4: I grew up dead fucking broke. I come from a
Speaker 4: household that grew up below the poverty line both parents
Speaker 4: income combined it and may twenty four grand in Washington Heights.
Speaker 3: What's good.
Speaker 4: I ain't got nothing to lose. So if so, if
Speaker 4: that's where we're coming from, then what do we have
Speaker 4: to lose by hedging into something that opportunistically and macro
Speaker 4: economically has a lot of room to grow and we're
Speaker 4: getting the indications from the corporates. So that's how I
Speaker 4: approached my NFT investment journey. And I know we didn't
Speaker 4: get into like what we look for in a collection,
Speaker 4: but I wanted to contextualize this shit as.
Speaker 6: An investment opportunity. So that's my take on it, one
Speaker 6: hundred percent. The upside, like you said, is infinite. Then
Speaker 6: I sort of look at it from a similar way
Speaker 6: as to where it's like investing in a startup, because
Speaker 6: if so far NFT projects have only made money from
Speaker 6: withinside the NFT projects, but there will come a point
Speaker 6: where they build businesses on the side of the NFTs
Speaker 6: and then put that revenue back into it. What's the
Speaker 6: difference between Amazon and that There is none. They all
Speaker 6: make money outside of inside the core team and from
Speaker 6: a specific user base. Like that's the way that I
Speaker 6: see all of this playing out. Young and old, intelligent
Speaker 6: found from all around the world create a company.
Speaker 3: It's the facade of that is art.
Speaker 6: But then underneath that, when they get the funding, the
Speaker 6: good ones will create businesses on the sides of those.
Speaker 6: And it's entirely possible that one day we see a
Speaker 6: project that has ten thousand and has a ten.
Speaker 3: Million dollar floor. Entirely possible.
Speaker 4: Play let's play that a little further the other day.
Speaker 4: I'm seeing at any moment now you're seeing news news.
Speaker 4: I've seen that the board apes. You guys seen them.
Speaker 4: They got signed to a major label and they made
Speaker 4: a band out of the apes. When I saw that,
Speaker 4: if it clicked right away, I understand it's intellectual property development.
Speaker 3: You're creating characters.
Speaker 4: Imagine if Harry Potter when it came out was an
Speaker 4: NFT collection. Imagine if you bought into Harry Potter at
Speaker 4: the fucking start of it, right or Mickey Mouse.
Speaker 3: Absolutely.
Speaker 4: When I look for projects, I look for IP development opportunities.
Speaker 4: Do I fuck with the characters? Do I resonate with
Speaker 4: like just the way they come across? Can I see
Speaker 4: this being an audiobook? Do they have a robust community?
Speaker 4: I'll tell you right now, if E y L dropped
Speaker 4: the NFT project, who will buy hands up?
Speaker 3: Soon reached?
Speaker 4: Okay, by the way, fun moment fucking six seven eight
Speaker 4: months ago.
Speaker 3: You know how there's a dot com right?
Speaker 4: I try to buy like VM dot com many years back,
Speaker 4: and and that shit was was five hundred thousand.
Speaker 3: I was like, bad, I can't. I can't.
Speaker 4: And then when I noticed that that NFT projects they
Speaker 4: had to dot eth, I said, yo, this is the
Speaker 4: new dot com. Once you've seen something one time, it's
Speaker 4: it's up to you to seize the day the next time.
Speaker 4: So you know what I did. I went on to
Speaker 4: you could buy is ens domains dot com. I started
Speaker 4: buying up dot eth domains and good, I started buying
Speaker 4: my home. I started buying my shit first, Jean Henry
Speaker 4: dot E got it, and then I started buying my
Speaker 4: homies next, and then I started buying my enemies. After that,
Speaker 4: I was like, caught you slipping, bitch, caught you slipping, bitch,
Speaker 4: caught you slipping, bitch.
Speaker 3: I hit up shot. I was like, Yo, you guys
Speaker 3: got Eyl dot Eth.
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Speaker 4: Nah Man, someone sliped it, but we was looking though.
Speaker 4: I was like, guess who owns that shit?
Speaker 3: And guess what. I paid a rack for it.
Speaker 4: But I'm gonna hook the homies up with it anyway,
Speaker 4: because that's love.
Speaker 9: We still don't need that throw by the way, I
Speaker 9: got you, that's crazy.
Speaker 3: Troy.
Speaker 5: Troy was like we saw on YouTube. He was he
Speaker 5: was like, Yo, somebody damn somebody took it. It was
Speaker 5: like weeks. He didn't tell us until I spoke to
Speaker 5: him about south By Southwest.
Speaker 3: He's like, oh, by the way, I own euyo. I'm like, well,
Speaker 3: or you want to plan on telling me?
Speaker 4: I was secretly like just waiting to see how long
Speaker 4: motherfuckers took before they came to me.
Speaker 3: So, wait, was your wallet addressed up public? Did you
Speaker 3: not have your NS on it?
Speaker 4: I had it all my public good dress, and I
Speaker 4: was just waiting and I'm motherfucker is snoozing.
Speaker 6: That would have been even more awkward if you were
Speaker 6: looking at who owned it that way.
Speaker 5: Yeah, definitely, he definitely caught a slipping. But that's that's
Speaker 5: a good gym right there though, because that that is
Speaker 5: the new website. That is the new website for sure.
Speaker 5: First of all, shout out to Tamika Mallory and my
Speaker 5: son in the building. Thank you for your advocacy. Appreciate
Speaker 5: it absolutely. Let's talk about let's talk about eight coin.
Speaker 5: That's interesting. You just told me about that. So you know,
Speaker 5: we talked about the board eight Yacht Club and now
Speaker 5: it's like a whole new vibe with them actually having
Speaker 5: a cryptocurrency which went live today right yep, this.
Speaker 3: Morning on all major platforms. Eventually, Yeah, they're alive now,
Speaker 3: so just kind.
Speaker 5: Of explain that, but even deeper than that, explain how
Speaker 5: that could be an evolution that could potentially change you know,
Speaker 5: how we look at these things.
Speaker 6: Yeah, so again you're going to start seeing these projects
Speaker 6: do things that you know, whether they originally started as
Speaker 6: art or had plans of utility, eventually to expand they
Speaker 6: have to turn into a real business. And board Apes
Speaker 6: have done that time and time again. They actually acquired
Speaker 6: crypto Punks, so board apes parent company, Yuga Labs now
Speaker 6: owns the crypto punks as well. That was a very
Speaker 6: large deal that valued that companied over four billion dollars.
Speaker 6: And you know, the next iteration for a lot of
Speaker 6: these companies as they create new projects is to create
Speaker 6: their own currency. So they launched ape coin, which launched
Speaker 6: this morning. I last time I checked, it was about
Speaker 6: seven dollars each and anybody that owned an ape before
Speaker 6: got an air drop that was between seventy thousand and
Speaker 6: two hundred thousand dollars just for having owned an ape.
Speaker 6: So without selling their ape, they were able to make
Speaker 6: a lot. And that that isn't necessarily the outside business
Speaker 6: idea that we were talking about before. But what it
Speaker 6: will allow is for when they do their land releases,
Speaker 6: when they have parties, when they launch merch it'll only
Speaker 6: be payable in apecoin. So that's that's sort of another
Speaker 6: level of how these certain NFT projects are expanding, and
Speaker 6: they are, you know, an example of the ones that
Speaker 6: have done it the best, and you know, regulatory wise,
Speaker 6: it's very complicated, but if you're worth four billion dollars,
Speaker 6: it get gets a little bit less.
Speaker 3: Let's go further on the coins.
Speaker 4: So so you had mentioned a term air drop, and
Speaker 4: this is unique to.
Speaker 3: The web three space.
Speaker 4: But what it effectively allows you to do is if
Speaker 4: you publish said n FT. Let's say you're an artist,
Speaker 4: you publish you know, n FT collection five thousand, You
Speaker 4: got five thousand fans.
Speaker 3: Cool.
Speaker 4: Now you can because they own something that's linked to
Speaker 4: your collection, you can effectively transmit to them anything of
Speaker 4: your choosing. Okay, now people have gotten very creative with this.
Speaker 4: That's called the air drop. If you all all own
Speaker 4: an entity that I made, I can air drop to
Speaker 4: you something that you authenticate the fact that you own
Speaker 4: my NFT by connecting your wallet BET. Once that's registered,
Speaker 4: I transmit something of value to you Okay, cool.
Speaker 3: How have people played that out? Well?
Speaker 4: I mentioned I was buying the dot eat domains, so
Speaker 4: from the company, it's pretty much like go Daddy of
Speaker 4: web three. They launched a coin, their own coin called
Speaker 4: n s coin, and what they did was, Hey, anyone
Speaker 4: who bought an NS domain before X date, you get
Speaker 4: set amount of coins. And people knew that I was
Speaker 4: sniping domain. So my Twitter was blowing up, yo jays,
Speaker 4: you gotta check out how many coins do you get?
Speaker 3: I went, I checked it out.
Speaker 4: I had man fucking coins and I said, well, what's
Speaker 4: the value of these coins? And you know, when you
Speaker 4: register your coins, there's like an official registry and then
Speaker 4: they peg a value. And I had like four hundred
Speaker 4: coins and I think that the value was seventeen dollars
Speaker 4: per and I did the math. I was like, I
Speaker 4: only spent three grand on the domains. Is it true
Speaker 4: that this shit has worked seventeen thousand?
Speaker 3: Yep?
Speaker 4: And someone's like, yo, behold it because the value is
Speaker 4: going to go up. Like nah, I'm telling this shit
Speaker 4: right now. I sold all the coins and I took
Speaker 4: the cash out. But here's the bigger takeaway. When I
Speaker 4: tweeted that I was like, yoh, I can't believe I
Speaker 4: just made seventeen grand. Someone tweeted back and said, when's
Speaker 4: the last time go Daddy gave you anything for owning
Speaker 4: a dot com?
Speaker 3: Again, I got the chills and I heard a few wows.
Speaker 4: That is the difference between the way that the web
Speaker 4: three economy is evolving. It allows you to have an
Speaker 4: economy with your consumer base so that the support is
Speaker 4: not just them to you.
Speaker 3: You can go back to them. And when you guys
Speaker 3: own eyl coin, it's coming.
Speaker 4: You guys are gonna get air drops from Ian Dunlab.
Speaker 4: The mortgage got you know whomever, all the stars in
Speaker 4: the ecosystem, right, and so that is a very interesting
Speaker 4: opportunity for us as an insurance company, for example, because
Speaker 4: if we made loop coin, then we have a way
Speaker 4: to reward our community for being part of our you know,
Speaker 4: our mini economy, so to speak. And that's something that
Speaker 4: I wanted to illustrate for y'all as another example of
Speaker 4: a very unique dynamic that is worth unpacking now.
Speaker 5: It's extremely important and it's high level conversation and shout
Speaker 5: out to I got him five hundred in the building
Speaker 5: and we was talking backstage and when Buster was telling
Speaker 5: us about that, we have a mutual friend that owns
Speaker 5: eight board eight and he called them and he was like, yeah,
Speaker 5: I made seventy thousand today, So you know you have
Speaker 5: these information obviously resources as well, but information can really
Speaker 5: change your life. Like, you know, think about making seventy
Speaker 5: thousand dollars for no reason. Literally, he just owns one.
Speaker 5: What about the people that own ten own one hundred.
Speaker 3: So there's somebody out there.
Speaker 6: I saw it on Twitter today who owns one hundred
Speaker 6: apes and one hundred mutant apes and one hundred kennels
Speaker 6: which is the third iteration. He made sixty million today
Speaker 6: just on an air drop. So and he lives in
Speaker 6: Portugal so it's not taxed.
Speaker 5: Yeah, it's one of these things, you know. Everybody always
Speaker 5: laughs like it's stupid, it's ape. It's all funny until
Speaker 5: it's not.
Speaker 3: That's right.
Speaker 6: And by the way, the next one is going to
Speaker 6: be meta mask. So meta mask, which is the wallet
Speaker 6: that everybody uses to buy and sell NFTs. If anybody
Speaker 6: in here has ever bought and sold an NFT with
Speaker 6: meta mask, you have an air drop coming.
Speaker 4: But here's the thing, I don't give a fuck about
Speaker 4: the apes I care about your collections more than I
Speaker 4: care about the apes. Do you understand why I'm here?
Speaker 4: You get what I'm saying. I don't give a fuck
Speaker 4: about the apes. I also don't give a fuck about
Speaker 4: meta mask. I give a fuck about who's in this
Speaker 4: room right now and all the collections that I want
Speaker 4: to see emerge right now, and the w's that I
Speaker 4: want you guys to get right now.
Speaker 3: One hundred percent. You see what I'm saying.
Speaker 5: Yeah, extremely important, John, Let's talk about Luke. Since we
Speaker 5: are investors in Loop, Yes.
Speaker 9: You are, Yes, we have. We have a Loop squad.
Speaker 9: We got like thirty DP to Loop. So Loop is
Speaker 9: a new age company. But you you're mixing AI with insurance,
Speaker 9: which insurance is not something that's sexy. But talk about
Speaker 9: Loop a little bit because it's interesting. You talked about
Speaker 9: how racist insurance is, absolutely and you talk about how
Speaker 9: you're changed in the face of insurance. You add an
Speaker 9: AI to insurance, and then once we saw a NAS invested,
Speaker 9: we had to invest.
Speaker 3: Oh yeah, talk about talk about everything you got going
Speaker 3: on Loop. Yo.
Speaker 4: By the way, life has a lot of full circle moments. Shaddy,
Speaker 4: I know you're a huge NAS fan. I grew up
Speaker 4: listening in a thousands and thousands of hours of NAS,
Speaker 4: and to have NAS invested in my company is a
Speaker 4: moment that I received humbly, and I got on one knee,
Speaker 4: as I still do often because it's nothing but gratitude
Speaker 4: in this journey.
Speaker 3: Yeah.
Speaker 4: So, look, I mentioned that we was collectively omitated from
Speaker 4: the FHA. I thought it was because the banks didn't
Speaker 4: want to lend to our community, but then I learned
Speaker 4: better banks to do whatever for their interests.
Speaker 3: Okay, it was the insurance companies.
Speaker 4: That dictated certain areas and said, hey, these areas are uninsurable.
Speaker 4: Of course we now know that as redlining, and so
Speaker 4: the reason that we weren't able to participate was not
Speaker 4: because of the banks, although they typically get the heat,
Speaker 4: is actually because of the insurance. And so insurance is
Speaker 4: the invisible culprit in financial services that underpins trillions of
Speaker 4: dollars of economic activity. You can barely go to the
Speaker 4: bathroom without fucking insurance. You needed to buy a crib,
Speaker 4: you needed to buy an investment, you need to buy
Speaker 4: you need to buy a web. You needed for everything.
Speaker 4: And when we took a look at just how much
Speaker 4: inequality there is in the actual pricing. I'm talking about
Speaker 4: the guts of the guts of the guts of that system.
Speaker 4: A lot of the way that they price people is
Speaker 4: based on demographic factors, right because these models were built
Speaker 4: a long time ago, So they would say, do you
Speaker 4: own your crib? All right, what's your credit score? What
Speaker 4: kind of job you work? And of course what they're
Speaker 4: low key doing is are you black? Or are you affluent?
Speaker 4: And to present a startling statistic today right now, all
Speaker 4: of this stuff is public because insurance is regulated at progressive.
Speaker 4: For example, you could have a duy and two speeding tickets,
Speaker 4: I e. Fucking reckless, But if you live in an affluent,
Speaker 4: affluent neighborhood and well educated, you actually get a better
Speaker 4: rate than someone who lives in a low income area
Speaker 4: with a completely clean record. And I don't know about y'all,
Speaker 4: but that's not gonna fly anymore. And so we wanted
Speaker 4: to create a vertically integrated insurance company, as non sexy
Speaker 4: as it sounds when I have to say, yeah, I'm
Speaker 4: selling car insurance. Yeah I'm selling car insurance, you goddamn right.
Speaker 4: And what we're doing is we have the technology now
Speaker 4: to price people based on how they drive.
Speaker 3: But the big idea here is much more powerful.
Speaker 4: Can we create a fair, honest, transparent insurance company that
Speaker 4: is made by the way, by a citizen of our
Speaker 4: same neighborhoods. And the way that that fuses his Web
Speaker 4: three is, you know y'all got projects.
Speaker 3: I'm sure y'all. How many of y'all got a side hustle?
Speaker 3: Hands up? Okay, how many of y'all full time entrepreneurs?
Speaker 3: Hands up?
Speaker 4: How many y'all thinking about becoming entrepreneur's hands up? How
Speaker 4: many of y'all just got invested in stocks and shit?
Speaker 3: Hands up? So everyone here is trying to get their bag.
Speaker 4: So the way that this fuses the Web two with
Speaker 4: the Web three thing is there's always a way. I
Speaker 4: wouldn't view it as like, Yo, that's the new and
Speaker 4: this is the present. I would look at ways that
Speaker 4: you can introduce elements of what's going on into what
Speaker 4: you're doing.
Speaker 3: Much like how Kanye.
Speaker 4: Teases out the new sounds and works into his presence
Speaker 4: sound sounds that are e merging.
Speaker 3: Well, so too is commerce.
Speaker 4: You can work in elements of the future into your
Speaker 4: present endeavor so that you can so that your fifteen
Speaker 4: minutes could be as long as jay Z's you have
Speaker 4: it bust.
Speaker 5: Let's get into this metaverse conversation metaverse. What is going
Speaker 5: on in the metaverse? Right now, everybody's talking about it,
Speaker 5: people will still not really they don't know. On the fence,
Speaker 5: they like, you're going to turn us into a whole
Speaker 5: society of the matrix, like getting plugged into machines and
Speaker 5: all of that.
Speaker 3: What's the metaverse all about?
Speaker 6: So everybody sort of defines the metaverse as something different
Speaker 6: and right now it's sort of a buzzword and tech.
Speaker 6: It doesn't actually mean anything, and it has a different
Speaker 6: definition for everybody. But my definition of it is, you know,
Speaker 6: quite similar to Web three. So it's you know, creating
Speaker 6: new projects, communities, digital land.
Speaker 3: The future, right the future.
Speaker 6: Is sort of how I look at explaining what the
Speaker 6: metaverse is. And the way that I see the future
Speaker 6: playing out is you know, artists getting their fair share,
Speaker 6: not needing permission from other people, and you know, being able,
Speaker 6: you know, and that the fact that anybody in here
Speaker 6: today can start something and you know, cultivate a strong
Speaker 6: community and build something that is greater than the best
Speaker 6: deal that the best whoever is high up in the
Speaker 6: world that you're trying to excel in can give you
Speaker 6: is is sort of where I see the future and
Speaker 6: how I identify the metaverse, and then you know there
Speaker 6: you know, other explanations like the way that Mark Zuckerberg
Speaker 6: looks at it as is, you know, everything in our
Speaker 6: life is going to be digital. So you're going to
Speaker 6: be taking meetings in VR, and you're going to be
Speaker 6: appearing in other cities as holograms, and you know the
Speaker 6: way that that the reason that that is good is
Speaker 6: that you don't have to be living in a specific city,
Speaker 6: so it sort of takes down barriers of where you live,
Speaker 6: where you're from, what your house looks like, all different things,
Speaker 6: and it creates much more equality if everybody's in a
Speaker 6: virtual meeting, whether it be as themselves or as like
Speaker 6: a panda, because that's how it's really happening. Like my
Speaker 6: Instagram profile right now is an NFT. It's not me,
Speaker 6: and that is just another example of sure it's utility
Speaker 6: because it's like, oh, I like that NFT project, or
Speaker 6: there are other people that are in that, and then
Speaker 6: they feel a sort of synergy with me because we
Speaker 6: both own this thing. But what it really is is
Speaker 6: you know an example of how people in the future
Speaker 6: aren't just going to be expressing themselves as their physical form,
Speaker 6: It's going to be as their avatar form. And that
Speaker 6: also fits in pretty well with what the metaverse is.
Speaker 6: But the metaverse to me, in short, is the future
Speaker 6: of tech and you know, everybody having a chance in
Speaker 6: a world where the companies all reward you for you know,
Speaker 6: supporting them, depending on how early you supported them. I
Speaker 6: think we're already in the metaverse, right. I agree with you.
Speaker 6: We flew down a lot of our team, right. We
Speaker 6: spent all day in Zoom and when we got to
Speaker 6: meet in real life, it was like I already knew them.
Speaker 4: We spend more time with each other now digitally as
Speaker 4: well on social platforms. And imagine if you're watching TV.
Speaker 3: My barber gave in this idea.
Speaker 4: She blew my mind somehow barbers are like always ahead
Speaker 4: of the curve.
Speaker 3: He was like, yo, he was cutting me up.
Speaker 4: He's like, yo, imagine you just watching TV and you
Speaker 4: know you're watching like Lebron play and right now, like
Speaker 4: you could just scan a q R crow whatever. It's like, Yo,
Speaker 4: watch this game from like floor side right now, but
Speaker 4: you got to pay ten bucks, would you do it?
Speaker 3: Hell yeah, paying ten bucks? Boom, I'm in there.
Speaker 4: And by the way, because of the way that the
Speaker 4: social platforms are set up, you might be scrolling on
Speaker 4: Instagram and that's gonna be the gateway to access the metaverse.
Speaker 4: So now you're scrolling through, you like that experience, you
Speaker 4: tap through? Boom, you're in there. And by the way,
Speaker 4: who do you want to be? When you're in there?
Speaker 4: You can pull up as a board a or as
Speaker 4: a eyl character or whatever NFT that you have, and
Speaker 4: now you're bringing person. You're personifying some of these NFTs
Speaker 4: in this metascape. And that just sounds oh D futuristic.
Speaker 4: I get I get it, but it's actually practically and
Speaker 4: pretty tangibly not too far off from how we already
Speaker 4: experience the world. And I'm gonna be keeping an eye
Speaker 4: on how this thing, you know, plays out. But what
Speaker 4: I can say is that the currency, the thing that
Speaker 4: allows you to partake in the metaverse are gonna be
Speaker 4: NFT collections. So go out there, find you some great
Speaker 4: NFT collections and view them as stock. If a stock
Speaker 4: takes off, you know, if you got one, share cool story.
Speaker 4: But if you know, if you have a healthy exposure
Speaker 4: and you got a portfolio of NFT projects, is going
Speaker 4: to afford you the ability to take place and to
Speaker 4: take to partake in all different types of projects of
Speaker 4: growth and so on.
Speaker 3: It's a fact. So let me ask you this before
Speaker 3: we wrap.
Speaker 5: John, We're gonna bring trap and Ian out next and
Speaker 5: they're gonna be talking about stocks. And I got a
Speaker 5: lot of money in the stock market. But I was
Speaker 5: talking to Humble and Humbles a financial advisa, very very
Speaker 5: sharp guy. He's Charlemagne's financial advisa, Easter Ray's financial advisa,
Speaker 5: Alonzo Ball gentlemen from Africa, and he was saying, like,
Speaker 5: you know, in the next five years, like the amount
Speaker 5: of money that's gonna be made in the private markets
Speaker 5: is just gonna be astronomical. And once again, we're kind
Speaker 5: of getting left. When I say we, we as a
Speaker 5: community is getting left on the train because most of
Speaker 5: us don't even have the opportunity to invest in private companies.
Speaker 5: We don't have the knowledge to invest in private companies.
Speaker 5: But that's that's where you make your one hundred x
Speaker 5: thousand x is in not necessarily the public markets and
Speaker 5: the private markets.
Speaker 3: You were an angel investor.
Speaker 5: You had a VC firm and now you actually have
Speaker 5: a startup where you've raised money.
Speaker 4: Can you talk about private markets a little bit? Yeah, yeah,
Speaker 4: we can spend some time there. I mean, look, all
Speaker 4: all the stocks that you guys buy in the public markets,
Speaker 4: they've already done made money for all the early investors,
Speaker 4: they done got paid out. And in twenty eighteen, when
Speaker 4: we had the record wave about IPOs, shit, in twenty twenty,
Speaker 4: there's a new there's a new vehicle called a spack
Speaker 4: that effectively allows you to go public without any scrutiny
Speaker 4: from the banks, which, by the way, I think should
Speaker 4: be damn, you're illegal.
Speaker 3: However, it unlocks a lot of liquidity.
Speaker 4: And when the spacks you know, came out, a lot
Speaker 4: of private operators were like, damn, we've raised a lot
Speaker 4: of money in the private markets. At some point you
Speaker 4: get the biggest check that you're gonna get from the
Speaker 4: private markets, so then you go public.
Speaker 3: And so in twenty twenty we.
Speaker 4: Saw spack after spack, after IPO after IPO, and guess
Speaker 4: what eighty six percent of those profits went to but
Speaker 4: a handful of firms, and guess what those firms were.
Speaker 3: But in a handful of zip codes.
Speaker 4: Okay, so they was coming from Silicon Valley, and I'm
Speaker 4: in this game to democratize where those proceeds come go
Speaker 4: to when we I PO. But interestingly, you know who's
Speaker 4: left holding the bag are regular people because guess who
Speaker 4: buy these i pos pension funds. Okay, so like the
Speaker 4: unions and shit to represent teachers and the public school
Speaker 4: system and all these people that pull together their money
Speaker 4: from everyday people. They buy these overpriced as IPOs, and
Speaker 4: then they take a bath when the when the market
Speaker 4: corrects them, and yet again it's another opportunity. It's another
Speaker 4: very stark example of how you know when your privileged
Speaker 4: you have access to investing these deals is you can't
Speaker 4: even get in these deals unless you're what's called an
Speaker 4: a credited investor. However, you know, I'm not even like
Speaker 4: the Web three guy, like that's not really my jam,
Speaker 4: but it's coming to me right now, revelation. I really
Speaker 4: do feel like we should be looking at NFT projects
Speaker 4: as the democratization of even private rounds, because you know,
Speaker 4: I don't you don't need to have a million dollars
Speaker 4: in network to part to participate in these things, and
Speaker 4: these projects the best run ones. You should be looking
Speaker 4: for projects that are going to run like businesses produce revenue.
Speaker 4: And so in that same way, you guys have a
Speaker 4: chance right now to buy Twitter at a few dollars
Speaker 4: a share.
Speaker 5: What's so crazy? Not to cut you off, but it's
Speaker 5: my brother nineteen Keys. We talk all the time, and
Speaker 5: we actually had that conversation where it's like, I feel
Speaker 5: like NFTs can become the new public offering, whereas like
Speaker 5: NAS recently didn't with his he had two songs that
Speaker 5: he put on royal and whoever owned it got royalties,
Speaker 5: has royalties in the song. So what's stopping a company
Speaker 5: from saying, okay, instead of going public in the private market,
Speaker 5: I'm gonna go public in public market.
Speaker 3: Exactly and offer.
Speaker 5: And now you can raise one hundred million dollars by
Speaker 5: offering your NFT. And now if you own an NFT,
Speaker 5: now you have equity in the company.
Speaker 6: So there are two levels of public public offerings really
Speaker 6: an NFTs. The first is when the NFT comes out
Speaker 6: and the second is when the coin comes out. So
Speaker 6: for the apes, for example, there are tons of everyday
Speaker 6: people who's you know, we're in hundreds of thousands of
Speaker 6: dollars of debt who bought an ape and it made
Speaker 6: you know, miracles happen. That is that one hundred two
Speaker 6: hundred five hundred thousand x that before was you know,
Speaker 6: unreachable and literally inaccessible for everybody else.
Speaker 3: So that exists today, it's out there.
Speaker 6: The question is how do you find those and how
Speaker 6: do you identify people who are good business operators? And
Speaker 6: the thing that I personally look for is people who
Speaker 6: have a track record. That's the only way that I
Speaker 6: can say, Okay, this guy, he's he has a big
Speaker 6: company and he's done successful things, maybe even in collectibles before,
Speaker 6: and that's how I personally identify them. And something that
Speaker 6: I like too as docks founders because from what I've
Speaker 6: found is that the majority of quote unquote rug pulls,
Speaker 6: people who start a project, take money and then leave it,
Speaker 6: are people who are anonymous, because that's something that's very
Speaker 6: popular in the NFT space. So I look for people
Speaker 6: who have something public facing to lose if they fail,
Speaker 6: because there's more on the line for them and they're less.
Speaker 3: Likely to leave the project. Like eyl yep not.
Speaker 5: What you said was extremely important and I think people
Speaker 5: kind of missed that a lot like that's really the
Speaker 5: only reason why we invested in Loop is because anything
Speaker 5: that John does, if I have an opportunity to get involved,
Speaker 5: I mean, it's kind of a no brainer. A he's
Speaker 5: like a real genius. But also he has a proven
Speaker 5: track record. So it's like I invested in the company.
Speaker 5: Not so much because I know the insurance game so much,
Speaker 5: but I know him, like you know what I mean.
Speaker 5: So I believe in the CEO, I believe in the founder.
Speaker 5: No different than Apple, right, no different than Amazon, no
Speaker 5: different than Tesla. People are investing in Tesla because they
Speaker 5: really believe even Elon Musk's vision. So the same rules
Speaker 5: that apply to you know stocks, same rules apply to crypto,
Speaker 5: same rules apply to NFTs. Look at the project, look
Speaker 5: at the people behind the project, look at their track record,
Speaker 5: and usually that's a decent indicator, at least a good
Speaker 5: indicator of you know, what to expect in the future.
Speaker 6: And one other thing to listen to what they say
Speaker 6: their goals are. Do they want to launch you know
Speaker 6: tokens one day? Do they want to launch businesses on
Speaker 6: the side, or do they look at it as just
Speaker 6: art Because a lot of people look at it as
Speaker 6: just art and that will tell you today that Okay,
Speaker 6: there aren't going to be additional revenue streams coming from this,
Speaker 6: so pay close attention to what they're saying.
Speaker 3: Their goals are south by Southwest Man, make some noise
Speaker 3: for John and Buster. Yes, yes, yes, yes, high level conversation.
Speaker 2: My graduates from my school being forced back drop bag
Speaker 2: drop Mike, drop backdropp.
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