WEBVTT - Community, Crypto, and Culture... DAOs w/ Derrick Thomas 0:00:00.000 --> 0:00:03.440 It's about competitiveness on the court, but collaboration off the court. 0:00:03.680 --> 0:00:05.640 So on the sidelines is where all the magic happens. 0:00:06.080 --> 0:00:08.920 It's the dealmaking. It's the four million dollars being invested 0:00:08.960 --> 0:00:13.239 in each other, um, it's the starting new projects, it's 0:00:13.320 --> 0:00:16.800 the being hired by one another. And it all started 0:00:16.800 --> 0:00:19.720 because on the court, it provides an opportunity for members 0:00:19.720 --> 0:00:23.200 to essentially like play and essentially have like these non 0:00:23.280 --> 0:00:27.320 verbal communications queues being activated, like you know, when you're passing, 0:00:27.320 --> 0:00:29.360 you put on the ball and you're making a shot. 0:00:29.720 --> 0:00:31.360 I have a relationship with you that's a little bit 0:00:31.400 --> 0:00:33.960 deeper than you know just me giving you a business card. 0:00:35.560 --> 0:00:38.479 I'm with Lucas and this is Black Tech, Green Money. 0:00:39.479 --> 0:00:41.400 I'm gonna introduce you to some of the biggest names, 0:00:41.479 --> 0:00:44.840 some of the brightest minds and brilliant ideas. Feel Black 0:00:44.880 --> 0:00:47.200 in building or simply using Texas to get your back. 0:00:47.600 --> 0:00:56.200 This podcast is Feel Derek Thomas, otherwise known as DT, 0:00:56.720 --> 0:00:59.360 is founder and CEO at Doal Labs, a launch path 0:00:59.400 --> 0:01:02.760 of dows which stands at the intersection of community, crypto 0:01:02.880 --> 0:01:06.720 and culture, and social engineer, co creator of Miami Tech 0:01:06.840 --> 0:01:10.040 Runs and l A Tech Runs which brings together emerging 0:01:10.080 --> 0:01:14.560 and established founders, vcs and creatives to build community, hoop 0:01:15.200 --> 0:01:19.120 and practice mindfulness. In my d m s, they're full 0:01:19.600 --> 0:01:22.840 of questions about dows, crypto, n f T s and like, 0:01:23.520 --> 0:01:27.279 so I brought on Derrek Thomas DT to talk about 0:01:27.360 --> 0:01:30.399 the ows and really break down what they are and 0:01:30.480 --> 0:01:33.400 what they could mean for you and your organization. A 0:01:33.520 --> 0:01:37.200 DOWN stands for decentralized autonomous organizations. You know, as the 0:01:37.280 --> 0:01:40.600 name suggests, it's a DOWN. A DOLL is a organization 0:01:40.880 --> 0:01:45.400 that's automated by computer code UM and open for anyone 0:01:45.440 --> 0:01:51.440 to participate as long as they meet some basic requirements UM. 0:01:51.560 --> 0:01:55.000 Being autonomous means that the smart contract can help run 0:01:55.240 --> 0:02:00.400 the majority of the process without human interference, and out 0:02:00.760 --> 0:02:04.840 is created and managed by a community with collectively manage 0:02:04.840 --> 0:02:09.320 which collectively manages its funds and projects. So you know, 0:02:09.680 --> 0:02:12.680 that's kind of like how it works and a very 0:02:12.800 --> 0:02:15.440 lament way of saying it is. A DOW is essentially 0:02:15.560 --> 0:02:19.720 a group chat, shared bank account, and cap table. So 0:02:19.840 --> 0:02:23.280 as an example, I'm gonna guess, like, so, like let's 0:02:23.320 --> 0:02:25.920 take your Miami Tech runs. You're gonna say, if I 0:02:25.960 --> 0:02:29.760 hold one of these tokens, or these coins, and we 0:02:29.800 --> 0:02:32.400 want to play on Saturday instead of Sunday. You know, 0:02:32.919 --> 0:02:36.840 that's a proposal that I can make to the community. Yeah, absolutely, 0:02:36.919 --> 0:02:41.360 So you know, when you're thinking about you know, in practice, right, UM, 0:02:41.400 --> 0:02:43.320 there are certain things that you want to propose to 0:02:43.360 --> 0:02:45.360 the entire community, and then there are certain things that 0:02:45.400 --> 0:02:47.760 you may want to propose just just like you're working 0:02:48.160 --> 0:02:51.079 group UM. And I'll explain what working groups are in 0:02:50.840 --> 0:02:54.840 in the later half of this, but essentially there's usually 0:02:55.280 --> 0:02:58.640 you know, governance is something that everyone is essentially trying 0:02:58.880 --> 0:03:02.520 error trying erroring and creating some type of process around. 0:03:02.800 --> 0:03:08.440 But essentially when you're thinking about UM playing and the 0:03:08.520 --> 0:03:11.440 rules of the game as well as the cadences of 0:03:11.880 --> 0:03:15.680 which you meet. When when you guys uh decide to 0:03:16.320 --> 0:03:18.520 you know, pay certain people when the treasury is used, 0:03:18.919 --> 0:03:22.800 usually you use that use that voting UM tool to 0:03:22.840 --> 0:03:26.200 actually make that possible. So you know, there's so many 0:03:26.240 --> 0:03:30.760 people who are you know, very Internet savvy, can can 0:03:30.800 --> 0:03:33.840 build software, etcetera. And there's others who are just really 0:03:33.840 --> 0:03:37.040 good community builders, people who know how to get people 0:03:37.120 --> 0:03:41.000 engaged in you know, social efforts and etcetera, which which 0:03:41.080 --> 0:03:45.000 is more important when you think about creating a successful doubt, 0:03:45.360 --> 0:03:49.640 the technology of a doubt or the ability to galvanize 0:03:49.680 --> 0:03:54.440 community around it. Great question. Um, I think both is 0:03:54.480 --> 0:03:58.840 really really important. UM. But being good at the community 0:03:59.160 --> 0:04:04.040 I think stands become it becomes just more it's more imperative. UM. 0:04:04.080 --> 0:04:06.400 There's tons of tools out there that allow us to 0:04:07.040 --> 0:04:09.200 you know, spin up a doubt and not necessarily focus 0:04:09.280 --> 0:04:12.480 so heavily on the actual underlying technology. But essentially the 0:04:12.520 --> 0:04:14.839 way that the technology works is built on like these 0:04:14.880 --> 0:04:19.159 open source blockchains where you know, anyone can see what's 0:04:19.200 --> 0:04:23.640 written into the code, right UM. Proposals can be submitted, 0:04:24.080 --> 0:04:28.160 audits can be happened around the group's treasury, UM, and 0:04:28.240 --> 0:04:31.880 it you know, other actions can actually you know, be 0:04:32.040 --> 0:04:37.640 recorded and essentially shared on a transparent record UM, around 0:04:37.640 --> 0:04:40.680 the entire community. So like you can focus on the technology, 0:04:40.920 --> 0:04:44.440 but there's no doubt or there's no community, I mean 0:04:44.440 --> 0:04:46.640 if there's there, if there there's no community, you know, 0:04:46.800 --> 0:04:50.240 no doubt, there's no doubt, right so, or no successful 0:04:50.279 --> 0:04:54.719 one for sure a doubt. So you know, I think 0:04:54.760 --> 0:05:00.120 that community becomes the true indicator of like what's important. UM. 0:05:00.160 --> 0:05:02.080 And there's a few things you've got to really consider 0:05:02.160 --> 0:05:04.400 when you think about the community, Right, you gotta think 0:05:04.400 --> 0:05:07.200 about the north star, like what's important, like the purpose 0:05:07.279 --> 0:05:09.800 behind why you're creating it. Um, you got to think 0:05:09.800 --> 0:05:12.520 about whether or not, like what you're choosing to do 0:05:12.960 --> 0:05:16.720 the functionality is it truly decentralized? Can you achieve that? 0:05:16.880 --> 0:05:20.440 Can can can what you want to achieve be better 0:05:20.440 --> 0:05:23.760 off centralized? Or should it be something that you get 0:05:23.800 --> 0:05:26.920 a collective vote on? Um The logic sticks around that, 0:05:27.040 --> 0:05:28.960 which is really important as well as like how you 0:05:29.000 --> 0:05:33.040 handle um certain things to actually accomplish that. And then 0:05:33.080 --> 0:05:34.760 like the narrative, like what are you're sharing to the 0:05:34.760 --> 0:05:37.359 community to keep them engaged, keep them moving forward? The 0:05:37.400 --> 0:05:40.240 mission and vision of values, and then like essentially the 0:05:40.279 --> 0:05:43.200 lifespan of it, like where are you going to Like 0:05:43.240 --> 0:05:45.080 how what do you create this doubt to do? Like 0:05:45.120 --> 0:05:49.760 the constitutional doubt for example, was created to simply purchase 0:05:50.279 --> 0:05:54.400 the constitutional I mean the constitution and make that whereas 0:05:54.400 --> 0:05:57.359 in some like like tech runs. You know it's started 0:05:57.360 --> 0:06:00.640 off as basketball, but essentially the next of it is 0:06:00.920 --> 0:06:05.080 the idea of building like this playground at this ultimate 0:06:05.080 --> 0:06:07.560 playground in the metaverse. But eventually what we're getting to 0:06:07.560 --> 0:06:10.800 its building and decentralized sports league, like and what and 0:06:10.920 --> 0:06:14.479 how having different you know, locations play against one another, 0:06:14.760 --> 0:06:16.880 So what does that look like? Right? And so all 0:06:16.880 --> 0:06:18.960 these different pieces play a role, but none of that 0:06:19.000 --> 0:06:21.600 can be done without community. Could so could you could 0:06:21.600 --> 0:06:24.479 have the new version of the NBA in five years 0:06:24.600 --> 0:06:27.360 or ten years? Pretty much? I mean as possible. I 0:06:27.400 --> 0:06:31.599 mean anything is possible, right U. I'm not saying that. Uh, 0:06:31.680 --> 0:06:35.040 you know, it just comes down to we're explored. We're 0:06:35.040 --> 0:06:37.560 gonna explore. You said, you said a couple of things 0:06:37.640 --> 0:06:41.719 there that I thought were really interesting in it. I 0:06:41.720 --> 0:06:44.360 think there's two ways, Like you started these tech runs 0:06:44.400 --> 0:06:46.719 with people who want to play ball, right and then 0:06:47.360 --> 0:06:49.880 but when I listen to you talk now here like 0:06:50.000 --> 0:06:53.640 something like there's a mission in some respects. What was 0:06:53.880 --> 0:06:57.560 the thing that got people excited about these tech runs 0:06:58.240 --> 0:07:00.360 when it's like we're here to play ball, But it 0:07:00.400 --> 0:07:02.240 wasn't like we're here to save you know, the whales. 0:07:02.360 --> 0:07:03.920 You know what I'm saying. I get like why people 0:07:04.120 --> 0:07:06.159 want to save the whales, but why would I buy 0:07:06.320 --> 0:07:09.720 a token to play basketball? What was the value there 0:07:10.040 --> 0:07:12.760 that you believe was you know, the driving force to 0:07:12.800 --> 0:07:17.000 people being engaged with techlers. Good question. Um. The key 0:07:17.040 --> 0:07:20.120 thing for us is we're building the ultimate playground at 0:07:20.160 --> 0:07:22.480 the intersection of the force crypto and culture, you know, 0:07:22.560 --> 0:07:24.840 for us, and it it was really about how can we 0:07:25.120 --> 0:07:29.520 mobilize and essentially grab the crypto curious, those who are 0:07:30.000 --> 0:07:32.360 crypto native, but the crypto curious and bring them into 0:07:32.360 --> 0:07:34.640 Web three UM in a way in which that was 0:07:34.680 --> 0:07:39.720 really native and to their current like way of life, right, UM, 0:07:39.960 --> 0:07:42.680 And I think the the what we are we're in 0:07:42.720 --> 0:07:46.280 a we're in a new generation the internet, and the 0:07:46.280 --> 0:07:50.440 Internet is essentially moving at a pace that's um, you know, 0:07:50.480 --> 0:07:54.040 that's exponential, but also at a pace where a lot 0:07:54.080 --> 0:07:55.920 of people, and we've seen this in the past, have 0:07:56.000 --> 0:07:59.280 been left behind. So my question is like, how can 0:07:59.320 --> 0:08:01.880 we not onboard the masses into Web three, but how 0:08:01.920 --> 0:08:04.040 do we bring Web three down to the masses so 0:08:04.080 --> 0:08:07.160 that it can be digestible, easy for them to understand, 0:08:07.240 --> 0:08:10.440 and then through that process of that shared interests, we 0:08:10.520 --> 0:08:14.560 can then you know, essentially teach them the way UM 0:08:14.600 --> 0:08:17.440 in a way in which that's fun, native, um and 0:08:17.600 --> 0:08:22.080 respectable by most. So you know, when you think about dalstals, 0:08:22.200 --> 0:08:26.840 one of a doll killer would be idleists. So when 0:08:26.880 --> 0:08:31.760 you're thinking about sports unifies, that's the natural property of it. 0:08:31.760 --> 0:08:34.040 It's one that people can play, it's one that people 0:08:34.080 --> 0:08:37.800 can watch and bet on UM. And we saw, you know, 0:08:37.840 --> 0:08:40.120 me being a former athlete, like I've seen it in 0:08:40.160 --> 0:08:45.360 so many different ways build and essentially unite communities. So 0:08:45.400 --> 0:08:47.959 I wanted to test that model UM out in this 0:08:48.080 --> 0:08:52.400 space and create one of the first sports social clubs 0:08:52.440 --> 0:08:54.520 that can allow for people to kind of gather around, 0:08:55.000 --> 0:08:59.079 build around something that they completely understand, and then take that, 0:08:59.559 --> 0:09:02.400 take that lesson and UM taken to the next level. 0:09:02.400 --> 0:09:04.400 So the mission is, the vision is a lot larger 0:09:04.440 --> 0:09:07.080 than even that, But we knew that we had to 0:09:07.080 --> 0:09:10.040 get people in the game. And we're not talking about 0:09:10.080 --> 0:09:11.480 on the court. We're talking about in the game of 0:09:11.559 --> 0:09:15.320 web grade. No that that response, it's probably one of 0:09:15.360 --> 0:09:17.600 the better ones I've heard, because I see so many 0:09:17.640 --> 0:09:18.880 doubts and I don't have a question here, but this 0:09:18.920 --> 0:09:21.800 is more common. I have all of these, you know, 0:09:21.880 --> 0:09:25.040 dials that come across my desk, you know, a proverbial desk, 0:09:25.480 --> 0:09:27.920 and you know, everybody is looking for like what the 0:09:28.040 --> 0:09:30.880 utility is, Like, what is the value of somebody owning 0:09:30.920 --> 0:09:34.040 this particular token? And the way you just described it, 0:09:34.120 --> 0:09:37.880 you know, the dial killer is idleness. And so when 0:09:37.920 --> 0:09:40.760 you're creating something that creates community, getting people out in 0:09:40.800 --> 0:09:45.959 the basketball court, I get now why that that's stronger. 0:09:46.040 --> 0:09:49.000 The utility UM is so important to the success of 0:09:49.000 --> 0:09:52.040 the doll. You've got these people who are coming out, celebrities, 0:09:52.080 --> 0:09:55.040 even people who are can be crypto whales come out 0:09:55.040 --> 0:09:57.480 and play because they want to be around like minded 0:09:57.520 --> 0:10:00.560 people who are investing in this thing called Web three 0:10:01.080 --> 0:10:03.439 and they found community and they want to get out 0:10:03.440 --> 0:10:05.680 and play ball with some people who you know are 0:10:05.720 --> 0:10:08.800 similarly situated, so really really good in and let me 0:10:08.800 --> 0:10:12.160 share and let me share if something but if that's okay. UM. 0:10:12.400 --> 0:10:15.520 The result of that, right, the result of using sports 0:10:15.559 --> 0:10:20.280 as just a proxy UM. You get the people that 0:10:20.360 --> 0:10:23.960 when we first started UM had no cryptolola, they knew 0:10:24.000 --> 0:10:27.720 nothing about purpe um, and just a short four months, 0:10:28.480 --> 0:10:32.120 not only did they have full understanding of you know, 0:10:32.400 --> 0:10:35.520 they are now crypto native, they were also you know, 0:10:35.600 --> 0:10:39.200 choosing certain lanes. So some were going down the n 0:10:39.240 --> 0:10:41.120 f T Degon route where they learned a lot about 0:10:41.200 --> 0:10:43.120 n f T. That became something that they were passionate 0:10:43.120 --> 0:10:46.840 and interesting, interested in some went down to the down, 0:10:47.160 --> 0:10:49.600 you know, and created more downs, like we spent up 0:10:49.720 --> 0:10:52.240 a yoga down out a result of the tech lines 0:10:52.240 --> 0:10:55.880 down UM. And now they go on retreats and holding 0:10:55.880 --> 0:10:59.440 that membership token allows you to get access to places 0:10:59.480 --> 0:11:03.079 all over the like Egypt, um um, excuse me, all 0:11:03.080 --> 0:11:05.959 over the world, like Egypt and St. Louis, St. Lucia 0:11:06.080 --> 0:11:09.840 and you know, in some parts of Africa. So but 0:11:09.960 --> 0:11:12.600 beyond that, it's about, you know, and I think it's 0:11:12.640 --> 0:11:16.640 really important. It's about collaborative competitiveness on the court, but 0:11:16.720 --> 0:11:19.400 collaboration off the court. So on the sidelines where the 0:11:19.400 --> 0:11:22.760 magic happens. It's the dealmaking. It's the four million dollars 0:11:22.800 --> 0:11:27.359 being invested in each other. Um, it's the starting new projects, 0:11:27.520 --> 0:11:30.880 it's the being hired by one another. And it all 0:11:30.920 --> 0:11:33.760 started because on the court it provides an opportunity for 0:11:33.800 --> 0:11:38.480 members to essentially UM like play and essentially have like 0:11:38.520 --> 0:11:42.520 these non verbal communications queues being activated, like and when 0:11:42.559 --> 0:11:45.120 you're passing you on the ball, when you're making a shot, 0:11:45.440 --> 0:11:47.120 I have a relationship with you that's a little bit 0:11:47.120 --> 0:11:50.040 deeper than you know, just me giving you a business card. Right, 0:11:50.559 --> 0:11:53.120 So it's like thinking about it in that in that fashion, 0:11:53.120 --> 0:11:55.440 and I think that's what created the success of it, 0:11:55.480 --> 0:11:58.280 and not from an economic perspective. You know, not only 0:11:58.320 --> 0:12:01.679 are we playing together, building try having fun, but we 0:12:01.840 --> 0:12:04.800 also token is rising because more people are joining, more 0:12:04.800 --> 0:12:09.040 people are finding the utility UM successful student valuable to 0:12:09.120 --> 0:12:12.199 them and then through them you know, now people are 0:12:12.240 --> 0:12:15.720 also earning at a high pace. No, I like that 0:12:15.760 --> 0:12:18.800 a lot. And you talked about this the value of 0:12:18.800 --> 0:12:22.439 that community, and it's starting to pervade into other lanes 0:12:22.559 --> 0:12:27.680 of athleticism yoga. You mentioned when you think about tech runs, 0:12:28.760 --> 0:12:32.120 what was the initial catalyst that caused the community you're 0:12:32.160 --> 0:12:34.680 building to be successful? Because anybody could have just said 0:12:34.679 --> 0:12:37.360 I'm gonna put together a basketball down, But how was 0:12:37.440 --> 0:12:39.960 your community built? Like, what was the impetus to get 0:12:39.960 --> 0:12:45.800 people interested in d T S? Right? I think, um, 0:12:45.800 --> 0:12:48.080 it was a couple. The number one thing is the 0:12:48.120 --> 0:12:51.559 community became the mode. We were very very like intentional 0:12:51.679 --> 0:12:54.400 about like who we had joined um to kind of 0:12:54.600 --> 0:12:59.760 spirit had this community. So we went after entrepreneurs, founders, creators, investors, 0:13:00.240 --> 0:13:04.160 those who are you know, not just like minded, but 0:13:04.360 --> 0:13:06.320 they have something to offer. And it got to a 0:13:06.360 --> 0:13:11.679 point where during the second half of members who were 0:13:11.800 --> 0:13:16.720 essentially um, you know, like we started to recognize that, 0:13:16.840 --> 0:13:19.440 like the news, the headlines that were happening, the mergers 0:13:19.440 --> 0:13:21.960 and acquisitions, the big plays that were happening not only 0:13:21.960 --> 0:13:24.040 interesting where three, but just around the country in tech. 0:13:24.600 --> 0:13:27.480 You know, someone in IDOW actually played a part in 0:13:27.559 --> 0:13:30.400 our role and making that possible. So now someone like 0:13:30.480 --> 0:13:34.480 me who did this last did this like our you 0:13:34.559 --> 0:13:37.319 know t K deal. You know, like, can you share 0:13:37.480 --> 0:13:40.120 some some thoughts around us and give us some insight 0:13:40.679 --> 0:13:43.080 so you know, from the public view, they can allow 0:13:43.240 --> 0:13:45.920 us to see, you know, how deals are being done, 0:13:45.960 --> 0:13:48.760 how things are being built, and giving me a certain 0:13:48.800 --> 0:13:52.319 knowledge set that I had no you know, no access 0:13:52.360 --> 0:13:55.360 to prior to being a part of this style, right, 0:13:55.480 --> 0:13:57.400 So I think it's stuff like that that creates a 0:13:57.400 --> 0:14:01.360 lot of value UM And through that, partnerships started to happen. 0:14:01.400 --> 0:14:03.920 And that's when, like we played at the Miami Heat arena, 0:14:03.960 --> 0:14:06.320 we partnered with like the f t X arena to 0:14:06.360 --> 0:14:09.320 actually make that possible. And that's when you know, the news, 0:14:09.800 --> 0:14:11.960 you know, the news took off. I mean, people start 0:14:12.040 --> 0:14:14.800 to recognizing that, oh wow, like this this is not 0:14:14.840 --> 0:14:17.240 only a cool doubt, but they also played on NBA 0:14:17.360 --> 0:14:21.440 cords and then skyboxes. They're going to Puerto Rico. They're like, 0:14:21.560 --> 0:14:24.240 right now our logo is on a professional basketball team, 0:14:24.880 --> 0:14:30.360 which is incredible. And that's exactly what happened from there. 0:14:30.400 --> 0:14:32.400 Like once that started to take off and we started 0:14:32.400 --> 0:14:35.760 to scale into different cities, we believe that we're like 0:14:35.800 --> 0:14:39.040 a global community, but essentially like a local culture. We 0:14:39.040 --> 0:14:40.360 want to make sure that. The reason why we do 0:14:40.400 --> 0:14:42.640 it this way because we recognize every city has their 0:14:42.680 --> 0:14:44.840 own culture and we don't want to distruct that by 0:14:44.880 --> 0:14:47.760 making it like one size fits all. I love that 0:14:48.880 --> 0:14:51.080 you're a businessman too, you know. I don't want to 0:14:51.120 --> 0:14:54.360 assume that you do this just because out of the 0:14:54.440 --> 0:14:57.320 kindness of your heart. I imagine it could be, but 0:14:57.440 --> 0:15:00.720 I imagine that there's a business opportunit here for you 0:15:00.800 --> 0:15:03.560 as well and for the community. And so can you 0:15:03.600 --> 0:15:07.160 explain how the economics work? You know, because if I 0:15:07.160 --> 0:15:09.600 start a company, I get you know, I sell a product, 0:15:09.720 --> 0:15:13.040 I generate revenue. If I sell a service, I generate 0:15:13.080 --> 0:15:16.440 revenue and something. You know, whatever that bottom line is, 0:15:16.480 --> 0:15:18.200 you know, those that's my profit. That's the money I 0:15:18.200 --> 0:15:20.280 get to take home and buy a new car, A 0:15:20.280 --> 0:15:22.680 new house or whatever. Pay my bills with the DOW. 0:15:23.440 --> 0:15:27.800 How does it work in the respect of I get 0:15:27.840 --> 0:15:32.480 to build something that is governed by a decentralized and 0:15:32.720 --> 0:15:37.800 autonomous computer system software, but there's revenue in it for 0:15:38.040 --> 0:15:40.680 not just the community. But how does DT get paid? 0:15:41.200 --> 0:15:43.120 Because if I want to go hard to DOW, how 0:15:43.120 --> 0:15:47.480 do I get paid? Ultimately? Absolutely absolutely, so they're the 0:15:47.480 --> 0:15:53.160 economics is pretty proofful. It's really supportive of the entire give. Essentially, 0:15:53.240 --> 0:15:56.240 dolls get value to the edges and community. So the 0:15:56.280 --> 0:16:00.680 way in which you can earn UM is by engaging UM. 0:16:00.680 --> 0:16:03.640 We have a system set forth where you know, members 0:16:03.720 --> 0:16:06.960 can join working groups and build different silos of the 0:16:07.040 --> 0:16:11.840 community so that the community can function as a whole right. UM. 0:16:11.880 --> 0:16:15.160 We have growth leads, partnership leads, We have people that 0:16:15.240 --> 0:16:21.160 handle membership relations which is essentially like onboarding people. UM. 0:16:21.200 --> 0:16:23.600 We have people that lead the community. We also have 0:16:23.640 --> 0:16:26.360 people that lead the governors to treasury management. So the 0:16:26.400 --> 0:16:29.800 way we do that UM is we provide resources like 0:16:29.840 --> 0:16:31.800 we provide the resources in the in the form of 0:16:31.840 --> 0:16:35.160 the native token UM some U s DC depending on 0:16:35.160 --> 0:16:39.239 like the scenario UM, and they get paid for bounties 0:16:39.280 --> 0:16:42.760 like different projects that they work on and complete. UM 0:16:42.840 --> 0:16:47.960 and as this token continuous to increase, you know, we 0:16:48.320 --> 0:16:50.440 have a structure where you can pay. You can get 0:16:50.440 --> 0:16:52.520 paid in two different ways. One is, you know, you 0:16:52.520 --> 0:16:55.920 can get paid by a certain set of tokens right 0:16:56.080 --> 0:16:58.440 which you can capture the outside as it continues to 0:16:58.480 --> 0:17:01.680 increase UM. I Obviously the variable or the risk to 0:17:01.720 --> 0:17:04.520 that is like if it starts to drop, you'll you'll 0:17:04.560 --> 0:17:06.680 catch that out, you know it catch it downside as well. 0:17:06.720 --> 0:17:10.440 But on the other side, there is also the stable 0:17:10.560 --> 0:17:12.400 aspect of it, like you can say, hey, listen, I'm 0:17:12.400 --> 0:17:15.639 gonna we can all vote to give someone you know 0:17:15.800 --> 0:17:21.080 two part time for a month of their opportunities or 0:17:21.200 --> 0:17:23.560 like if they complete a certain amount of tasks I 0:17:23.640 --> 0:17:25.439 when you're put on either a salary or a project 0:17:25.440 --> 0:17:29.560 based situation, and that would be given into the native token, 0:17:30.080 --> 0:17:32.439 but they were given in the amount in which we 0:17:32.640 --> 0:17:35.320 set for, like if it's two thousand, two thousands worth 0:17:35.359 --> 0:17:39.560 of this native token UM and uh so that's the 0:17:39.560 --> 0:17:42.040 way we incentivize our community. And so the way I 0:17:42.080 --> 0:17:44.879 get paid is you know, the same way. UM And 0:17:44.920 --> 0:17:47.760 then like there's a couple other you know, a mad 0:17:48.000 --> 0:17:52.680 like magical I think magical opportunities where you can, once 0:17:52.720 --> 0:17:55.280 you earn enough tokens, you can do a lot of 0:17:55.280 --> 0:17:57.919 things with it to actually like transition that into eat 0:17:58.160 --> 0:18:01.840 or um, you know, like you know, create what they 0:18:01.880 --> 0:18:06.159 call liquidity prod pools to actually like pay yourself, you know, 0:18:06.440 --> 0:18:08.840 through the fees. And I mean obviously I can go 0:18:08.880 --> 0:18:10.879 into the great detail and that later, but essentially you 0:18:10.880 --> 0:18:13.479 can be a liquidity provider where like I take some 0:18:13.560 --> 0:18:16.760 of my tokens and now added to a pool, meaning 0:18:17.040 --> 0:18:19.359 so that other members like you will and that's how 0:18:19.480 --> 0:18:23.160 or whoever can actually join the community. And because I 0:18:23.200 --> 0:18:26.399 create a pool, I expanded the pot of which people 0:18:26.440 --> 0:18:30.280 can join, right the amount of tokens and encirculated supply. 0:18:30.640 --> 0:18:33.080 And because of that, it's almost like a token appreciation. 0:18:33.320 --> 0:18:36.320 I can get paid in fees, almost like a bank 0:18:36.720 --> 0:18:40.119 to actually have people join and be can be in 0:18:40.160 --> 0:18:45.600 a an important be in the form of ethereum, or 0:18:45.600 --> 0:18:47.040 it can be in the form of the native token 0:18:47.040 --> 0:18:50.360 of vote. So and this is from my mown benefit, 0:18:50.359 --> 0:18:53.120 because I've had so many people We've been having these 0:18:53.119 --> 0:18:56.639 dial conversations, and I heard this quote that says you 0:18:56.720 --> 0:18:59.840 can't bring a web two way of thinking into web 0:19:00.040 --> 0:19:02.240 read and I think there's like a disconnect with so 0:19:02.280 --> 0:19:04.000 many people who are trying to think of how to 0:19:04.080 --> 0:19:06.479 make this make sense. And so I'm gonna ask you, like, 0:19:06.680 --> 0:19:10.040 is is it what you just explained? Is it kind 0:19:10.040 --> 0:19:12.400 of like you know, I get paid, Like think about 0:19:12.440 --> 0:19:15.440 the traditional stock market. I get paid in more stocks 0:19:15.520 --> 0:19:20.480 of you know, McDonald's or whatever. And by engaging with 0:19:20.560 --> 0:19:23.240 the community of McDonald's, they give me more stocks, and 0:19:23.320 --> 0:19:26.040 so I get to pay my bills when I cash 0:19:26.160 --> 0:19:29.000 that stock out. Is that what you're saying kind of 0:19:29.000 --> 0:19:32.680 how dolls works off? If I engage with the tech 0:19:32.760 --> 0:19:36.920 runs down, I earn these tokens. Therefore, you know you're saying, 0:19:36.960 --> 0:19:40.480 I get to, you know, realize that personal reward. Does 0:19:40.520 --> 0:19:43.000 that is that get turned into dollars when I just 0:19:43.160 --> 0:19:45.359 decided to cash in some of those tokens so that 0:19:45.400 --> 0:19:47.120 I can go pay my bills, so that I can 0:19:47.160 --> 0:19:51.120 go take a vacation, Right? Is that what you're saying? Yeah, 0:19:51.200 --> 0:19:53.680 to a certain degree, yes, like you have you can 0:19:53.680 --> 0:19:57.040 get paid in the quote unquote company's equity. Right. Um, 0:19:57.080 --> 0:19:59.720 when I was at Tesla, you know, you know, through 0:19:59.800 --> 0:20:02.399 bone this as we have bonuses and instead of cash, 0:20:02.440 --> 0:20:05.080 we had equity. We got paid more and more testa 0:20:05.119 --> 0:20:08.800 stock UM, and that can pay off later on, like 0:20:08.960 --> 0:20:12.960 you know, especially when you're giving earlier UM. Given the 0:20:13.000 --> 0:20:15.159 fact that Tesla has you know, performed the way it 0:20:15.200 --> 0:20:19.239 has in markets, so the same model comes here. But 0:20:19.480 --> 0:20:23.200 it also, like Web two is not completely vanished from 0:20:23.200 --> 0:20:27.040 Web three. So like the idea that like there's a 0:20:27.040 --> 0:20:30.720 complete separation. No, um, it's just a follow on. Like 0:20:30.800 --> 0:20:35.080 it's ReadWrite and own. It's not only own, it's also 0:20:35.240 --> 0:20:37.719 right too. So like when we think about the model, 0:20:38.359 --> 0:20:41.439 we still wanna you know, how do you make you know, 0:20:41.640 --> 0:20:44.639 the salaries competitive. We look at ways in which we 0:20:44.760 --> 0:20:47.920 can um. We look in the market and say, hey, listen, 0:20:47.920 --> 0:20:50.800 how much more someone get paid in normal dollars and 0:20:50.840 --> 0:20:53.480 then like we can apply that in this model. Um, 0:20:53.520 --> 0:20:55.399 and we're just getting paid in the native token. So 0:20:55.720 --> 0:20:57.920 it all comes down to now when we're talking about 0:20:57.920 --> 0:21:01.000 the Web three, you know, play of it. It's okay 0:21:01.040 --> 0:21:03.520 your you might receive the native token, if you might 0:21:03.560 --> 0:21:07.359 receive and those two things. UM, it's something in which 0:21:07.400 --> 0:21:09.440 if you have coin based, if you have all these 0:21:09.440 --> 0:21:11.320 other like if they're blocked by some of these other 0:21:11.440 --> 0:21:15.320 like banking tools that are more web three native UM. 0:21:15.400 --> 0:21:18.600 It can give you an opportunity to you know, you 0:21:18.600 --> 0:21:21.439 can hold your crypto and like borrow against it, or 0:21:21.560 --> 0:21:25.760 you can essentially cash out whenever you you find out 0:21:25.800 --> 0:21:28.560 to be suitable as well. So how can people who 0:21:28.560 --> 0:21:30.159 are you you talked about some of the people who 0:21:30.240 --> 0:21:32.199 came to tech Runs didn't even have a wallet in 0:21:32.240 --> 0:21:36.960 the beginning. How can people who are UM trying to 0:21:37.000 --> 0:21:40.359 get dial experience interested in things like tech runs and 0:21:40.400 --> 0:21:43.000 others friends with benefits and of it, Like, how can 0:21:43.280 --> 0:21:46.400 we easily get dial experience if we want to dip 0:21:46.400 --> 0:21:48.080 our toe in the water to just kind of figure 0:21:48.119 --> 0:21:50.400 this thing out. What are some things you would recommend 0:21:50.440 --> 0:21:54.080 we do. I think the the best thing you can 0:21:54.080 --> 0:21:56.160 do is participation so you can learn a little bit. 0:21:56.200 --> 0:21:58.879 But I think just jumping in UM. And what jumping 0:21:58.880 --> 0:22:02.280 in looks like is you know, there's communities, like if 0:22:02.320 --> 0:22:06.159