WEBVTT - Study Hall: WHAT'S NEXT FOR CRYPTO? 0:00:00.040 --> 0:00:03.600 An illegal alien from Guatemala charged with raping a child 0:00:03.680 --> 0:00:07.480 in Massachusetts. An MS thirteen gang member from Al Salvador 0:00:07.720 --> 0:00:11.840 accused of murdering a Texas man of Venezuelan charged with 0:00:11.920 --> 0:00:15.840 filming and selling child pornography in Michigan. These are just 0:00:15.920 --> 0:00:19.680 some of the heinous migrant criminals caught because of President 0:00:19.720 --> 0:00:23.320 Donald J. Trump's leadership. I'm Christy nom the United States 0:00:23.320 --> 0:00:28.120 Secretary of Homeland Security. Under President Trump, attempted illegal border 0:00:28.160 --> 0:00:31.680 crossings are at the lowest levels ever recorded, and over 0:00:31.760 --> 0:00:34.960 one hundred thousand illegal aliens have been arrested. If you 0:00:35.040 --> 0:00:38.920 are here illegally, your next you will be fined nearly 0:00:39.000 --> 0:00:43.000 one thousand dollars a day, imprisoned, and deported. You will 0:00:43.040 --> 0:00:46.680 never return. But if you register using our CBP home 0:00:46.720 --> 0:00:50.120 app and leave now, you could be allowed to return legally. 0:00:50.479 --> 0:00:55.240 Do what's right. Leave now. Under President Trump, America's laws, 0:00:55.400 --> 0:00:57.840 border and families will be protected. 0:00:57.920 --> 0:01:00.000 Sponsored by the United States Department of Homeland Security. 0:01:00.120 --> 0:01:03.160 Let's talk about a little crypto, shall we Yeah? So 0:01:03.440 --> 0:01:08.160 stable coin us DC breaks dollar PEG after firm reveals 0:01:08.200 --> 0:01:11.679 it has three point three billion million dollars in sv 0:01:12.240 --> 0:01:13.679 B exposure. 0:01:13.760 --> 0:01:14.720 Three point three billion. 0:01:14.720 --> 0:01:18.040 Stable coin is one of these. So stable coin is 0:01:18.080 --> 0:01:21.560 extremely important because that's the stable coin. Right. So the 0:01:21.959 --> 0:01:25.160 thing with crypto is that crypto currency, the word currency 0:01:25.240 --> 0:01:28.360 is a little misleading because most people aren't using it 0:01:28.400 --> 0:01:31.880 as currency. Currency can't really fluctuate like that you're. 0:01:31.720 --> 0:01:33.959 Paying an over shot because they always savy bashing crypto. 0:01:34.959 --> 0:01:36.840 Well you're like a fifty millimeters or something. 0:01:37.120 --> 0:01:39.640 Oh I do I do want to about to put 0:01:39.640 --> 0:01:41.080 the Z on them. I do want to talk all 0:01:41.080 --> 0:01:44.080 crypto too, because you and me and ab actually had 0:01:44.080 --> 0:01:47.400 an enlightened conversation with Chris Lions, you know Chris Lions. Yeah, 0:01:47.440 --> 0:01:49.400 so I'll talk about that actually. But all right, so 0:01:49.480 --> 0:01:53.600 stable coin, right, this is important because let's say, like 0:01:53.640 --> 0:01:55.640 if you're trying to use bitcoin as a currency, we 0:01:55.680 --> 0:01:58.480 know how vild to bitcoin is, right, So it's hard 0:01:58.520 --> 0:02:01.240 for me to use any type of currency and say, Okay, 0:02:01.320 --> 0:02:03.640 I'm going to get my hair cut, and my haircut 0:02:03.680 --> 0:02:06.560 costs forty dollars today, next week is going to cost 0:02:06.600 --> 0:02:09.400 sixty dollars because the price of the currency fluctuated or 0:02:09.480 --> 0:02:12.080 is going to cost twenty dollars next week, Like you can't. 0:02:12.120 --> 0:02:14.080 It got to be stable, like the dollars. The dollar 0:02:14.160 --> 0:02:15.760 it changes over the cost of time, but it doesn't 0:02:15.840 --> 0:02:18.600 change that drastically where it's just like, oh, now the 0:02:18.680 --> 0:02:23.000 dollar's worth twenty cents tomorrow. So the stable coin was 0:02:23.040 --> 0:02:26.840 designed to be just that stable right where it doesn't 0:02:26.840 --> 0:02:30.880 really change, stays the same. You have stability if you 0:02:30.919 --> 0:02:32.320 want to get in and out of coins, if you 0:02:32.320 --> 0:02:34.160 want to just park your money somewhere, if you want 0:02:34.200 --> 0:02:37.240 to just have something that does not move but it's 0:02:37.280 --> 0:02:43.600 still not centrally backed, the stable coin is your alternative. Now, 0:02:43.639 --> 0:02:46.800 stable coins have had a lot of issues in stability, 0:02:47.040 --> 0:02:53.200 and that has caused even more fear in the crypto market. 0:02:53.200 --> 0:02:55.919 So this is something that's extremely important. Three point three 0:02:55.960 --> 0:02:59.880 billion in the sv B exposure situation. So what this 0:03:00.240 --> 0:03:03.280 tell us about stable coins and the whole crypto space 0:03:03.400 --> 0:03:03.880 in general. 0:03:04.520 --> 0:03:06.079 Trial Let you go first, before go on. 0:03:06.280 --> 0:03:08.480 No, I mean, it's an interesting thing because I just 0:03:08.520 --> 0:03:12.120 spoke about USDC like two weeks ago, and we had 0:03:12.120 --> 0:03:15.040 the privilege of sitting down with some of the leadership 0:03:16.000 --> 0:03:17.480 and maybe hopefully, you know, we can get them to 0:03:17.480 --> 0:03:20.160 come on and talk about it. But we need you 0:03:20.240 --> 0:03:22.679 now more than ever, right, And one of the things 0:03:22.680 --> 0:03:24.919 that we spoke about was the education around the space, 0:03:25.240 --> 0:03:27.320 and we talked about regulation, and this is one of 0:03:27.320 --> 0:03:31.960 those coins quote unquote that was in that realm of 0:03:32.000 --> 0:03:36.000 being relegated. And to see it, like you said, the 0:03:36.040 --> 0:03:39.360 word stable is like supposed to be a standard, and 0:03:39.440 --> 0:03:41.600 so to see that as the exposure and then to 0:03:41.640 --> 0:03:45.440 watch a goun on in ninety cents, it's like, yeah, 0:03:45.480 --> 0:03:46.720 the numbers don't lie, right. 0:03:47.520 --> 0:03:50.400 So the word I'm going to use is it increases 0:03:50.400 --> 0:03:52.200 the angst of people. 0:03:53.560 --> 0:03:56.040 Who are trying to get into space and try to 0:03:56.080 --> 0:03:58.960 have further education about it because they're watching these things 0:03:59.000 --> 0:04:01.720 happen in real time. The negative, the negative, the negative, 0:04:01.720 --> 0:04:03.640 the negative. And then it was like, oh wait, there's 0:04:03.640 --> 0:04:05.840 a regulation. This might be a positive for the space, 0:04:05.880 --> 0:04:08.280 and this could be something that can actually help elevate 0:04:08.320 --> 0:04:09.880 the space to get more people into it. 0:04:10.480 --> 0:04:11.640 Now we see this, it's like. 0:04:14.200 --> 0:04:16.240 If I were Family Diamond right now, I'll be going 0:04:16.279 --> 0:04:19.200 to the White House tonight and saying, Hey, we need 0:04:19.240 --> 0:04:23.160 to protect the American people. Let's speed up this initiative 0:04:23.240 --> 0:04:25.520 to put out our own stable coin and let it 0:04:25.560 --> 0:04:28.000 be government backed. Part of this is a part of 0:04:28.320 --> 0:04:31.560 the planned destruction of crypto, so that the government can't, 0:04:31.600 --> 0:04:32.279 which I told. 0:04:32.160 --> 0:04:34.720 Him, is well, it's it's that same thing, right. 0:04:34.720 --> 0:04:36.960 It was like, Yo, let's destroy it to the point 0:04:37.000 --> 0:04:39.560 where people have no trust and come in and become 0:04:39.600 --> 0:04:40.839 the saviors of the space. 0:04:40.680 --> 0:04:43.279 Because during every crisis there is room for a tyrant 0:04:43.680 --> 0:04:47.760 or a new regime to come in to pitch safety. 0:04:48.560 --> 0:04:52.039 The stable coin thing, it never made sense to me. 0:04:52.279 --> 0:04:53.960 And I know for all of you that you know 0:04:54.680 --> 0:04:56.599 are in the crypto community, is this not the time 0:04:56.640 --> 0:04:59.800 for me to bash anything because all of us investors 0:04:59.839 --> 0:05:05.360 need stick together. But even if something is stable and 0:05:05.360 --> 0:05:08.600 it's staying flat at one percent of at one dollar, 0:05:08.760 --> 0:05:12.640 if inflation goes up, aren't you negative technically? So if 0:05:12.680 --> 0:05:15.120 you invested in twenty seventeen or twenty eighteen or twenty 0:05:15.200 --> 0:05:17.760 nineteen and twenty twenty three, that's stable coin. The one 0:05:17.800 --> 0:05:22.400 dollar is actually negative. There's no stability. You are either 0:05:22.440 --> 0:05:26.120 growing or dying. There's no asset class. It just stays 0:05:26.120 --> 0:05:29.520 flat across the board. It is impossible. It is a 0:05:29.520 --> 0:05:35.760 mathematical improbability. Sounds good but in theory, and I ask everyone, 0:05:35.839 --> 0:05:37.279 or do you have any money tied to a stable 0:05:37.279 --> 0:05:41.080 coin right now? But who came up and funded the 0:05:41.120 --> 0:05:44.520 stable coin initiative the venture capital community. 0:05:44.839 --> 0:05:48.120 So originally it was for years it was tether and 0:05:48.480 --> 0:05:51.080 she got untethered and it was like, all right, if 0:05:51.320 --> 0:05:53.640 you know, just for in terms of how volatile the 0:05:53.680 --> 0:05:55.559 space is. It was like, all right, put your money 0:05:55.560 --> 0:05:57.960 here when you see these volatile times coming and it 0:05:58.000 --> 0:05:59.080 should be flat. 0:05:59.080 --> 0:06:00.800 You're not going to lose your mond. And then we 0:06:00.880 --> 0:06:03.359 see Taylor, Yeah, come apart. You know what it is. 0:06:03.360 --> 0:06:06.520 Stable Index funds to tech too. 0:06:06.560 --> 0:06:06.839 Index. 0:06:06.920 --> 0:06:09.080 No stress. I know you're tired of me saying it, 0:06:09.360 --> 0:06:13.560 and it's working. Apple amazing, Microsoft amazing. If I've made 0:06:13.560 --> 0:06:15.640 you money, please put yes and shut. I know my 0:06:15.720 --> 0:06:19.080 takes are not always the most favorable, but the advice 0:06:19.240 --> 0:06:19.920 is immaculate. 0:06:20.800 --> 0:06:23.880 So another thing, so going to this Chris Lions situation 0:06:24.120 --> 0:06:27.479 because Chris, I get some background on Chris Lions, is 0:06:27.920 --> 0:06:29.560 so all these people that I'm telling you guys like 0:06:29.600 --> 0:06:34.400 remember I said, Paul Judge, Richard Dennis, of course you 0:06:34.440 --> 0:06:39.800 already know who Don Peebles is legend, and we've introduced 0:06:39.839 --> 0:06:43.640 you to a variety of other different people. Ryan Glover 0:06:44.160 --> 0:06:47.320 He's another like these. So these people that I'm telling 0:06:47.320 --> 0:06:51.440 you about, right, you as an intelligent person. You should 0:06:51.440 --> 0:06:54.039 be googling these people to find out who they are, 0:06:54.440 --> 0:06:56.120 to see how you can add value to them, to 0:06:56.120 --> 0:06:58.240 see how you can get next to them, some of 0:06:58.240 --> 0:07:01.240 their thought processes that they've grossers of the worlders. These 0:07:01.240 --> 0:07:04.039 are people that are not celebrities, that don't have a 0:07:04.120 --> 0:07:07.000 million followers on social media. But these are the real 0:07:07.040 --> 0:07:10.640 people that's really moving things out here. So and they're 0:07:10.680 --> 0:07:14.480 all black, so that's important. When I'm just I'm not 0:07:14.520 --> 0:07:16.880 just saying these people's names, I'm actually saying these names 0:07:16.880 --> 0:07:19.600 to actually potentially help you, because if you don't know 0:07:19.640 --> 0:07:22.120 who they are, you you don't even you just walk 0:07:22.200 --> 0:07:26.320 right past them. Megan Meghan, yep, exactly, So all right, 0:07:26.400 --> 0:07:30.760 Chris lines he's the guy that actually started the Cultural 0:07:30.840 --> 0:07:33.119 Leadership Fund. So Meghan is the head of the Cultural 0:07:33.200 --> 0:07:37.080 Leadership Fund with adrecon Harwis a sixteen Z Howis is 0:07:37.080 --> 0:07:40.000 the largest one of the largest venture capital firms in 0:07:40.040 --> 0:07:46.680 the world. Ben Horwitz, it's our guy casually, so so 0:07:47.280 --> 0:07:50.800 Chris is a very interesting guy. But he is part 0:07:50.840 --> 0:07:55.560 of a Dreson Horwitz and started the Culture Leadership Fund 0:07:55.600 --> 0:07:57.480 even though he doesn't work on a coach. Leadership Fund anymore. 0:07:57.480 --> 0:07:59.760 He actually started it. Now he's on the crypto side. 0:08:00.400 --> 0:08:01.320 He's a prodigy. 0:08:01.280 --> 0:08:05.480 Yeah, he's invested in clubhouse doing all all kinds of stuff. 0:08:05.640 --> 0:08:08.360 So I'll let you finish suggest that he comes under 0:08:08.400 --> 0:08:12.120 the tutelage of Ben Horowitz. Right, So they saw his potential, 0:08:12.680 --> 0:08:16.040 they saw how inscitible his work, ethic was, his brilliance, 0:08:16.320 --> 0:08:19.000 and they're like, look, we're going to help you, uh, 0:08:19.240 --> 0:08:21.600 just become better at what you're doing. And outside of 0:08:21.640 --> 0:08:24.160 what comes from that is the Culture Leadership Fund. 0:08:24.880 --> 0:08:26.760 So all right, so that's who, that's who Chris Lions 0:08:26.840 --> 0:08:30.560 is for. For background reference, So the other day in 0:08:30.760 --> 0:08:34.280 l A me and a B we end up having 0:08:34.320 --> 0:08:39.160 dinner with Chris Lions. Is very random occasion, and we said. 0:08:39.120 --> 0:08:42.520 To you we all go where. We're gonna tell the location. 0:08:42.880 --> 0:08:48.560 It was at, give our spot, spot, that spot we 0:08:48.720 --> 0:08:51.439 frequent there. They're gonna be waiting with sALS. 0:08:51.600 --> 0:08:52.640 I know they was coming in that. 0:08:52.800 --> 0:08:56.400 Yeah, they're gonna be a with their trade and portfolios 0:08:56.440 --> 0:08:59.680 to ask for tips. But all right, so we haven't 0:08:59.720 --> 0:09:03.760 done it. Very random situation and we're just talking and 0:09:03.800 --> 0:09:07.439 he's a very big crypto enthusiast, so I'm asking him. 0:09:07.440 --> 0:09:09.640 I'm like, all right, just give me the real is 0:09:09.640 --> 0:09:12.640 it over the gig up? Just be honest with me 0:09:13.120 --> 0:09:16.720 the IRI and he was like, bro, like it didn't 0:09:16.720 --> 0:09:18.839 even start yet, Like it didn't even start yet. And 0:09:18.880 --> 0:09:20.640 he said something that was extremely insightful to me. He 0:09:20.679 --> 0:09:22.600 was like, you know the problem that everybody's making right 0:09:22.640 --> 0:09:28.079 now with crypto and web three and NFT. 0:09:28.600 --> 0:09:30.800 This episode is brought to you by P and C Bank. 0:09:31.200 --> 0:09:33.960 A lot of people think podcasts about work are boring, 0:09:34.200 --> 0:09:38.040 and sure they definitely can be, but understanding a professionals 0:09:38.120 --> 0:09:41.360 routine shows us how they achieve their success little by little, 0:09:41.760 --> 0:09:45.400 day after day. It's like banking with P and C Bank. 0:09:45.880 --> 0:09:48.679 It might seem boring to safe plan and make calculated 0:09:48.679 --> 0:09:51.800 decisions with your bank, but keeping your money boring is 0:09:51.800 --> 0:09:55.160 what helps you live or more happily fulfilled life. 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Don't wait, 0:11:12.120 --> 0:11:14.920 don't hesitate. Let's Square handle the back end so you 0:11:14.960 --> 0:11:16.600 can keep pushing your vision forward. 0:11:18.840 --> 0:11:22.520 An illegal alien from Guatemala charged with raping a child 0:11:22.520 --> 0:11:26.319 in Massachusetts. An MS thirteen gang member from Al Salvador 0:11:26.559 --> 0:11:30.720 accused of murdering a Texas man of Venezuelan charged with 0:11:30.760 --> 0:11:34.680 filming and selling child pornography in Michigan. These are just 0:11:34.760 --> 0:11:38.520 some of the heinous migrant criminals caught because of President 0:11:38.559 --> 0:11:42.160 Donald J. Trump's leadership. I'm Christy nom the United States 0:11:42.160 --> 0:11:46.960 Secretary of Homeland Security. Under President Trump, attempted illegal border 0:11:47.000 --> 0:11:50.520 crossings are at the lowest levels ever recorded, and over 0:11:50.600 --> 0:11:53.800 one hundred thousand illegal aliens have been arrested. If you 0:11:53.880 --> 0:11:57.760 are here illegally, your next you will be fined nearly 0:11:57.840 --> 0:12:01.560 one thousand dollars a day in prison and deported. You 0:12:01.640 --> 0:12:05.160 will never return. But if you registered using our CBP 0:12:05.320 --> 0:12:08.040 home app and leave now, you could be allowed to 0:12:08.080 --> 0:12:12.920 return legally. Do what's right. Leave now. Under President Trump, 0:12:13.080 --> 0:12:16.240 America's laws border and families will. 0:12:16.080 --> 0:12:18.880 Be protected sponsored by the United States Department at Homeland Security. 0:12:18.920 --> 0:12:22.320 It is that they're all looking at it individually, singular. 0:12:22.720 --> 0:12:24.600 He's like, it's not going to work like that. He's like, 0:12:24.640 --> 0:12:27.160 it's only going to work when it's embedded and they're 0:12:27.200 --> 0:12:29.520 all working together, so you don't even realize that it's 0:12:29.520 --> 0:12:33.120 actually working. An example that he gave was GPS, and 0:12:33.160 --> 0:12:35.600 he was like, you know, when GPS was first created, 0:12:36.160 --> 0:12:40.240 it was you know, a revolutionary technology, and it has 0:12:40.640 --> 0:12:43.840 been beneficial for people just to use GPS on its own. 0:12:44.240 --> 0:12:47.120 He's like, but the real application in GPS is the 0:12:47.160 --> 0:12:49.800 things you don't even think about. He was like, Let's 0:12:49.800 --> 0:12:53.520 take Uber, right, He's like, Uber runs off GPS. There's 0:12:53.559 --> 0:12:56.880 no Uber without GPS. He's like, another application with Uber 0:12:57.120 --> 0:13:00.240 is payment processing. He's like, no payment processing is on 0:13:00.280 --> 0:13:03.160 their own. But how many things are integrated with payment 0:13:03.160 --> 0:13:05.559 processing that you don't even realize. So if you look 0:13:05.559 --> 0:13:10.080 at it like that Uber. So there's no Uber without GPS, 0:13:10.240 --> 0:13:13.640 there's no Uber. And without payment processing, there's no Uber 0:13:13.720 --> 0:13:18.040 without a smartphone. Right, There's no Uber without effective Wi Fi. 0:13:18.559 --> 0:13:21.400 All of these things merge together and create a great 0:13:21.440 --> 0:13:26.000 company like Uber. Right, So he was like, when the crypto, 0:13:26.520 --> 0:13:30.079 the NFTs, the web three, the blockchain, all of that, 0:13:30.240 --> 0:13:33.240 the i AI, all of that, at one point is 0:13:33.240 --> 0:13:35.040 all going to merge. It's not going to be just 0:13:35.080 --> 0:13:38.240 look at chat, GBT by itself, let's invest in bitcoin 0:13:38.320 --> 0:13:41.679 by itself, let's buy a board eight by itself. All 0:13:41.720 --> 0:13:43.400 of that is going to merge to the point where 0:13:43.480 --> 0:13:47.200 it's going to be a very organized package. You're not 0:13:47.280 --> 0:13:49.880 even going to fully realize it, and that's the real 0:13:50.000 --> 0:13:53.280 evolution of this Web three technology. And so he said, 0:13:53.320 --> 0:13:56.559 he's like, we're a long way away from that ten years. 0:13:56.840 --> 0:13:58.880 He didn't give a set timeframe, but he said what 0:13:58.880 --> 0:14:00.280 he said with some time wafe. But he was like, 0:14:00.360 --> 0:14:03.560 so it's so. His theory was that this is still early. 0:14:04.040 --> 0:14:07.400 People still haven't figured it out, corporations still haven't figured 0:14:07.400 --> 0:14:10.760 it out. But when they do figure it out, cryptocurrency 0:14:10.840 --> 0:14:13.480 is going to be at the center of that as 0:14:13.520 --> 0:14:17.360 far as the finance part of it, and it's only 0:14:17.360 --> 0:14:20.400 going to go up from there. He also said bitcoiny 0:14:20.440 --> 0:14:25.560 theory leading the way. Obviously, that's the safest play in 0:14:25.560 --> 0:14:28.440 the situation. He talked about a few others. 0:14:28.120 --> 0:14:30.840 But your name one other names for the audience. 0:14:31.680 --> 0:14:38.840 I forgot it. Damn, I forgot. 0:14:38.760 --> 0:14:41.920 That's a good The beating is playing on fire. I 0:14:41.960 --> 0:14:46.480 can't sing, Paul to play for the show. I gotta 0:14:46.520 --> 0:14:50.800 fly back all money in editor, gotcha, gotcha old money 0:14:50.880 --> 0:14:51.440 and no money. 0:14:52.280 --> 0:14:55.000 But so, yeah, so I just think that, you know, 0:14:55.080 --> 0:14:58.040 that's an interesting take, and I think, you know it's 0:14:58.240 --> 0:14:59.840 when he said it like that, I'm like, damn, I 0:15:00.040 --> 0:15:04.080 really thought about it, especially the GPS thing. So we'll see, 0:15:04.200 --> 0:15:06.320 we'll see. You know, right now crypto does not look 0:15:06.400 --> 0:15:08.640 too promising for a variety of different reasons from people 0:15:09.040 --> 0:15:16.480 the security issues, from from the fluctuation, the government to 0:15:16.840 --> 0:15:20.880 a variety of different things. But we'll see. 0:15:20.960 --> 0:15:22.800 It will take time to be woven into the fabric. 0:15:22.880 --> 0:15:24.240 So you know what's so crazy? I used to live 0:15:24.240 --> 0:15:26.080 in Hawaii, right and Hawaii? 0:15:28.680 --> 0:15:31.400 Hold on, what's it? Go ahead for those that didn't know, 0:15:33.240 --> 0:15:35.480 in Hawaii? And he played ball in Hawaii. 0:15:35.560 --> 0:15:36.360 Yes, that's the fact. 0:15:36.440 --> 0:15:37.920 Now I used to ship them CDs out there. But 0:15:37.960 --> 0:15:38.560 that's another thing. 0:15:39.440 --> 0:15:43.440 Continue, so beautiful islands. You know, it's a whole chain 0:15:43.520 --> 0:15:47.240 of islands, right, and you know, obviously everybody knows Hawaii 0:15:47.280 --> 0:15:50.800 waterfalls and rainforests and beaches and all of that stuff. 0:15:51.360 --> 0:15:54.440 But I'm sure you know, but most people don't know 0:15:54.560 --> 0:15:58.280 how Hawaii was actually formed. It was formed through a 0:15:58.440 --> 0:16:04.520 volcanic explosion. Right, So the volcano explosion thousands millions, millions 0:16:04.560 --> 0:16:10.320 of years ago, huge volcanic explosion erupted underground and all 0:16:10.360 --> 0:16:14.720 of those there was all volcanic rock. So it's crazy 0:16:14.800 --> 0:16:19.760 because the oldest island is all Green Kawhi. They called 0:16:20.000 --> 0:16:23.400 the Green Island right, and that's because it's so over 0:16:23.480 --> 0:16:27.520 the course of time, the volcanic rock turns into to 0:16:27.680 --> 0:16:31.800 lush green. The youngest island is the Big Island, and 0:16:31.880 --> 0:16:35.280 they still have large pits of volcanic rocks because the 0:16:35.400 --> 0:16:39.560 time hasn't caught up yet. So the volcanic rock exploded, 0:16:39.800 --> 0:16:44.640 it stood there. It took millions of years from the 0:16:44.800 --> 0:16:47.160 time that it actually was just solid rock for the 0:16:47.280 --> 0:16:50.080 rain to come in the water for it to turn 0:16:50.160 --> 0:16:53.640 into vegetation into what we see now. So that is 0:16:53.680 --> 0:16:56.040 an important lesson as far as the nature thing, because 0:16:57.040 --> 0:17:02.320 the beginning of things usually are violent and dangerous and scary, 0:17:03.040 --> 0:17:06.520 and that's like the beginning of starting something. Then it 0:17:06.680 --> 0:17:07.760 takes a long. 0:17:07.640 --> 0:17:09.240 Time, million years before we. 0:17:11.920 --> 0:17:13.000 Cut that up. We got. 0:17:14.800 --> 0:17:18.200 Yeah, but it takes it takes a long time for 0:17:19.040 --> 0:17:22.159 it to be nurtured to see the final product. A 0:17:22.240 --> 0:17:25.200 lot people just see Hawaii. They don't see the volcano, 0:17:25.600 --> 0:17:27.800 they don't see the millions of years of rain, they 0:17:27.840 --> 0:17:30.639 don't see the vegetation taking time to complete. They just 0:17:30.680 --> 0:17:32.920 see the final product where you just go on vacation today. 0:17:33.280 --> 0:17:37.320 So that's an analogy for just life in general, but 0:17:37.520 --> 0:17:41.040 especially like any new space, any new space. It's gonna 0:17:41.040 --> 0:17:43.560 be violent when it first starts, it's gonna be explosive, 0:17:43.640 --> 0:17:46.399 it's gonna be all kinds of issues. You got to 0:17:46.400 --> 0:17:48.480 be able to work through that. You're gonna have to 0:17:48.560 --> 0:17:51.240 be able to have patience, and you're gonna have to 0:17:51.320 --> 0:17:56.040 have foresight to see the rainbow that we put a 0:17:56.119 --> 0:18:01.399 rainbow and looking at the rainbow goal, that's amazing, going 0:18:01.440 --> 0:18:02.920 to cause two podic goal. 0:18:03.200 --> 0:18:06.520 But what happened to NFTs going up to and now 0:18:06.520 --> 0:18:10.680 I'm coming with the mob when I said it, okay, 0:18:10.760 --> 0:18:11.600 so here's the lesson. 0:18:11.680 --> 0:18:12.080 Number one. 0:18:12.160 --> 0:18:14.359 You want to invest in every asset class for ten 0:18:14.440 --> 0:18:16.840 to thirty years, right, I mean you want to buy 0:18:16.840 --> 0:18:19.200 at the best prices. But when it was at sixty 0:18:19.240 --> 0:18:21.720 thousand and everyone was saying it was going to one hundred, 0:18:21.760 --> 0:18:24.440 I said it was twenty. They called me crazy Bitcoin 0:18:24.440 --> 0:18:30.400 you're talking about Yes, we have three what NFTs? It's 0:18:30.440 --> 0:18:33.160 going to be a ten to fifteen year cycle. Also, 0:18:33.320 --> 0:18:36.560 go to Apple site and video site. When they start 0:18:36.640 --> 0:18:39.440 hiring for more crypto jobs, that's when you'll see an explosion. 0:18:39.600 --> 0:18:41.240 If you go to the job site, you can see 0:18:41.240 --> 0:18:44.760 Apple when they were actively hiring for these positions. Two 0:18:44.880 --> 0:18:47.520 years ago. They are not hiring as quickly for the 0:18:47.600 --> 0:18:48.280 space anymore. 0:18:48.320 --> 0:18:49.679 Those are one of those measures you're looking at. 0:18:50.040 --> 0:18:53.359 Absolutely, I want to see what with Tim Cook and 0:18:53.440 --> 0:18:56.359 the cartel is doing actively in space because they are 0:18:56.440 --> 0:18:58.320 going to like the same thing with Uber. There would 0:18:58.359 --> 0:19:03.240 be no Uber or payment processing that scale, GPS scale 0:19:03.320 --> 0:19:04.720 without the app store. 0:19:04.800 --> 0:19:06.280 Yeah, but I think one of the things we've learned, 0:19:06.400 --> 0:19:09.359 and especially when we talked about it last week, is like, 0:19:09.880 --> 0:19:11.400 by the time you hear about it, they've been working 0:19:11.440 --> 0:19:13.720 on it for two years, you know what I'm saying. 0:19:13.840 --> 0:19:16.560 So like the same thing that he's talking about is 0:19:16.600 --> 0:19:19.439 happening right now, we're just not aware of it because 0:19:19.440 --> 0:19:22.080 it's not ready to be presented to us, right, And 0:19:22.200 --> 0:19:28.320 so yeah, the time frame is important, but technology expedites everything, 0:19:29.160 --> 0:19:31.880 and so it's probably happened. It's just about how it's 0:19:31.920 --> 0:19:35.960 going to be woven into the fabric of society and 0:19:36.119 --> 0:19:38.359 who is going to be the order of it, right, 0:19:38.359 --> 0:19:39.400 because it could. 0:19:39.200 --> 0:19:41.080 Be a new company or could be a stabused probably 0:19:41.520 --> 0:19:42.720 that we have that we trust. 0:19:43.640 --> 0:19:45.159 I feel like it'll have to be somebody that we 0:19:45.240 --> 0:19:48.800 already trust to present us in a way that could 0:19:48.840 --> 0:19:49.800 be digestible for us. 0:19:49.880 --> 0:19:54.639 But going back to your same volcanic analogy, when they 0:19:54.720 --> 0:19:57.639 finally announced the recession, that's when the new crop of 0:19:57.720 --> 0:19:59.520 money is going to be thrown into the market and 0:19:59.520 --> 0:20:01.600 we're going to se like new creators, new companies, new 0:20:01.640 --> 0:20:05.360 ideas that will allow those to flourish and turn into profitable. 0:20:05.480 --> 0:20:07.960 What's what's the business that flourishes from this? Yeah? 0:20:08.040 --> 0:20:09.959 Right, we saw two thousand and we spoke about companies. 0:20:10.080 --> 0:20:12.800 Uber is one of those, Airbnb is another. Yeah, what's 0:20:12.840 --> 0:20:13.960 the company that comes out of this? 0:20:14.240 --> 0:20:17.480 Yeah. They have to announce the disaster first though, and 0:20:17.640 --> 0:20:20.719 let the lava flow into the market so we can 0:20:20.760 --> 0:20:23.040 have We're just gonna stay with this lout. 0:20:24.680 --> 0:20:30.360 Let it burn. My graduates from my school being forced 0:20:30.680 --> 0:20:35.600 back drop drop, Mike drop backdrop drop. 0:20:45.960 --> 0:20:49.560 An illegal alien from Guatemala charged with raping a child 0:20:49.640 --> 0:20:53.400 in Massachusetts. An MS thirteen gang member from l Salvador 0:20:53.680 --> 0:20:57.800 accused of murdering a Texas man of Venezuelan charged with 0:20:57.880 --> 0:21:01.760 filming and selling child pornography in Michigan. 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