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Speaker 1: Hello, and welcome to another episode of the Markomos Show,

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Speaker 1: where we're always talking about the decentralized revolution, talking about

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Speaker 1: the way the world is changing, of course right through

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Speaker 1: our very eyes, and of course you know it's changing.

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Speaker 1: It's changing faster than we can keep up with it,

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Speaker 1: which is why I come to each and every week

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Speaker 1: and keep you up to date with what the heck

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Speaker 1: is going on.

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Speaker 2: And we have a big show plan for you today.

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Speaker 1: Talking about one of the most talked about, one of

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Speaker 1: the most famous or infamous persons. I'm talking about the

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Speaker 1: world's richest person and.

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Speaker 3: I'm talking about Elon Musk.

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Speaker 1: What the heck is he doing? What is this power

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Speaker 1: play that he has? What happened this week that confirms

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Speaker 1: what I talked about nine months ago in a video

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Speaker 1: finally confirmed it.

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Speaker 2: We're going to talk about that.

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Speaker 1: We're going to talk about these controversies that have happened

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Speaker 1: and the potential Department of Justice attacks coming after him

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Speaker 1: to try to silence him. We have a lot to

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Speaker 1: cover this week if you want to know what the

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Speaker 1: heck is going on, where we're going with this piece

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Speaker 1: of technology, not just with Elon Musk and Twitter, but

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Speaker 1: how it's changing the entire social media space and of

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Speaker 1: course what this means.

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Speaker 2: For your money.

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Speaker 1: You don't want to miss this, So let's go ahead

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Speaker 1: and let's just dig right in now.

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Speaker 2: Like I said, we have a lot to cover. Now.

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Speaker 2: If you do miss any.

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Speaker 3: Of this, don't worry. I got you back.

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Speaker 1: You can always check me out on the podcast. Just

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Speaker 1: search the Mark Mass Show on your favorite podcast player

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Speaker 1: and you can catch me there.

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Speaker 2: All the back issues are archives.

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Speaker 1: So you can go back and binge any of these

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Speaker 1: episodes if you want. Now, if you're listening on the podcast,

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Speaker 1: would you please do me one simple small favor. I

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Speaker 1: have a team and we work tirelessly to bring this

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Speaker 1: content to you, and all I would ask if I

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Speaker 1: could please one small ask is on your podcast player,

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Speaker 1: if you could just like and review the show and

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Speaker 1: share it with somebody who you think might be interested

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Speaker 1: in listen to it. If you could do that, leave

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Speaker 1: a review, that would mean the world to me.

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Speaker 2: All right now, like I said.

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Speaker 1: Talking about the world's richest, the world's maybe most infamous

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Speaker 1: or famous person, the most talked about person, that's Elon Musk.

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Speaker 1: Now it really kind of breaking down him becoming a

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Speaker 1: polarizing figure, which is pretty interesting because it's interesting because

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Speaker 1: I mean, obviously, rich people are just polarizing overall in

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Speaker 1: a society today that somewhat demonizes rich people, which is

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Speaker 1: pretty weird. As I grew up, it seemed like everybody

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Speaker 1: wanted to be rich one day, and we looked up

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Speaker 1: to rich people and we tried to emulate, and we

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Speaker 1: tried to figure out what it was that they did

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Speaker 1: to get there, and we tried to do the same things.

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Speaker 1: And in today's society, somehow being rich has become bad.

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Speaker 1: You know, you see the eat the rich slogan. You

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Speaker 1: see aoc show up at the Meta ball and the

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Speaker 1: gown that says, you know whatever, she's attacks the rich

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Speaker 1: or whatever in like blood red on our white gown.

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Speaker 1: And we see this, you know, Bernie Sanders attacking rich.

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Speaker 1: You see the President Biden constantly saying rich people have

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Speaker 1: to pay their fair share and things like that, and

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Speaker 1: so it's weird that well, I guess it's understandable that

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Speaker 1: he could be polarizing into in today's climate, in today's

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Speaker 1: environment where lots of people somehow hate the rich, and

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Speaker 1: so because he is the richest person, we can see

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Speaker 1: there's a lot of jealousy hate, greed, envy, things like that,

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Speaker 1: all sins all pointed at Elon Musk. But he has

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Speaker 1: become a polarizing figure for different reasons. And this is

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Speaker 1: what interests me. He's really become a polarizing figure for

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Speaker 1: maybe two different reasons. He was once known as a

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Speaker 1: darling of the left, the.

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Speaker 3: I hate to use.

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Speaker 1: Labels because I don't even know what they mean anymore,

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Speaker 1: and you probably don't either, but of the typical liberal

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Speaker 1: left climate narrative people. Because he was building out electric

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Speaker 1: vehicles right, he moved. He was the first kind of

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Speaker 1: mover into this electric vehicle space, getting us.

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Speaker 3: Off of these nasty, dirty, horrible world ending fossil fuels

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Speaker 3: they tell us about.

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Speaker 2: Now, he was.

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Speaker 1: Liked so much by the left that even good Old Obama,

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Speaker 1: the left's favorite president of all time, Good Old Obama

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Speaker 1: even helped him get a four hundred and sixty five

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Speaker 1: million dollars half a billion dollar grant in order to

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Speaker 1: get Tesla off the ground. Now that was through the

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Speaker 1: Obama administration. It went through the Department of Energy, the DOE,

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Speaker 1: and I was back in twenty ten and they issued

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Speaker 1: a loan, a loan to Tesla Motors to produce specially

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Speaker 1: designed all electric plug in vehicles and to develop a

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Speaker 1: manufacturing facility in California to produce the battery packs and all.

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Speaker 3: The electric vehicles.

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Speaker 2: So that was a good deal.

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Speaker 1: So he was he was the champion of the left.

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Speaker 1: He was going to end the fossil fuels. We give

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Speaker 1: him the money to go do these things. Now, I

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Speaker 1: will say that they did end up paying that loan

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Speaker 1: back I think five years early, so it was pretty good.

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Speaker 1: But I want to talk about him for different reasons

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Speaker 1: that I think he's under attack today. He was loved

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Speaker 1: by the liberal left, he was loved by the Obama

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Speaker 1: side of the aisle, whatever you call that, And today

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Speaker 1: he's hated not for being rich, but for actions that

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Speaker 1: he's taking.

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Speaker 3: And the same government that used.

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Speaker 1: To give him half a billion dollars is now coming

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Speaker 1: after and attacking him. Before we go into that, let's

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Speaker 1: just talk about for a minute, why what he's doing now.

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Speaker 3: That's really leading up to this attack? All right?

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Speaker 1: And I think there's hidden motivations in here that most

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Speaker 1: people don't understand. So I want to uncover that for you.

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Speaker 2: Now.

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Speaker 1: Last November, I released a video discussing what I thought

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Speaker 1: Elon's plans were.

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Speaker 2: For Twitter, and I said what they'd look like.

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Speaker 1: So go back and watch that video if you want

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Speaker 1: the full breakdown where I had like some old clips

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Speaker 1: of him from like the early pre PayPal days clips,

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Speaker 1: the audio clips of him with his partner at the

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Speaker 1: time at PayPal. So if you really want to dig

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Speaker 1: into that, it's very fascinating, very interesting, go back and

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Speaker 1: watch that video on my main YouTube channel, which is

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Speaker 1: Mark Moss. But we basically talked about how everyone was

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Speaker 1: obsessing over Elon Musk buying Twitter.

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Speaker 2: Why would he buy it?

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Speaker 1: He's gonna threaten our democracy with this dangerous right wing extremism, right,

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Speaker 1: things like that. Now, Elon Musk said that he thought

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Speaker 1: at the time when he bought it, he said that

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Speaker 1: he thought that Twitter is important to the future of civilization.

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Speaker 3: Those are some of the things that he said.

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Speaker 1: Now, he said that he believes free speech is one

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Speaker 1: of the most important things, the bedrock of a free society,

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Speaker 1: of a civilization, which of course it is. I say

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Speaker 1: this all the time. Of course I speak. I get

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Speaker 1: paid to speak, so of course I say that, right.

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Speaker 1: But no, humans are different than animals in that.

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Speaker 3: We can speak, we can think, we can speak.

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Speaker 1: We can also speak things into existence, all right, So

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Speaker 1: what does that means? We can speak and we can

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Speaker 1: speak in him and do distance. So as we say

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Speaker 1: things over and over and over, they become true. If

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Speaker 1: we tell ourselves we're not good enough, we're too stupid,

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Speaker 1: we're too dumb, we're too lazy, I'm no good with money,

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Speaker 1: those things become true in our life, which is why

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Speaker 1: you hear things about like positive affirmations and things like that.

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Speaker 2: So I would also agree with that.

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Speaker 1: Now, he said that Twitter is so important for civilization

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Speaker 1: that we need to have a common digital talent square

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Speaker 1: where a variety of ideas can be openly discussed and

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Speaker 1: debated safely.

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Speaker 2: He said, quote I did it.

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Speaker 1: To help humanity, he said, quote Twitter cannot become a

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Speaker 1: free for all healthscape. So those are things that he

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Speaker 1: openly said.

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Speaker 2: I believe you out to.

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Speaker 3: Your motives, So I'm gonna get into that.

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Speaker 2: But let's address some of these things. Like I said,

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Speaker 2: I already did.

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Speaker 1: I already said, I do agree that free speech is

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Speaker 1: the most necessary thing because it's our thoughts. We should

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Speaker 1: be free thinkers, which then means we should be free speakers.

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Speaker 1: And how else can we have innovation. How can we

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Speaker 1: find truth if not for open honest dialogue? How can

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Speaker 1: we sharpen our own ideas if not for open honest dialogue?

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Speaker 1: How could things that we used to think as fact

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Speaker 1: ever have been disproven if it wasn't for open honest dialogue.

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Speaker 2: I mean, the Wright.

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Speaker 1: Brothers were told that man couldn't fly, it would never happen.

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Speaker 1: All the scientists agree that it would never happen. But

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Speaker 1: yet they challenged it and they showed that we can fly,

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Speaker 1: and of course now we fly today.

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Speaker 2: Now, going back.

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Speaker 1: To talking about Twitter not being a free for all healthscape,

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Speaker 1: what are some of the things that he might have

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Speaker 1: been talking about that it was a free for all healthscape. So,

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Speaker 1: for example, we know I've reported extensively on this channel

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Speaker 1: about the Twitter files, right, so we know that when

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Speaker 1: he took over Twitter, he got all the files and

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Speaker 1: he gave them to reporters to expose the corruption from

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Speaker 1: members of Congress, other government agencies, all within Twitter's own wall,

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Speaker 1: showing that the presidential administration had been basically coercing Twitter

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Speaker 1: to censor people. Now, obviously the narrative was that, hey,

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Speaker 1: you know your right is protected of free speech, We're

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Speaker 1: not doing this. This is a private company doing this,

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Speaker 1: but of course he exposed that for.

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Speaker 3: What it was.

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Speaker 1: Now there's a whole lot more to this, but I

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Speaker 1: want to get into exactly what his plans are for Twitter,

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Speaker 1: and hint, hint, hint, it has something to do with

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Speaker 1: your money. If you're just tuning in, you're listening to

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Speaker 1: the Mark Mass Show, we're talking about Elon Musk, the

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Speaker 1: most infamous, famous man, and what his true motivations are

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Speaker 1: and what happened this week that sealed his fate.

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Speaker 3: We'll be back with more in a minute. Don't go away,

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Speaker 3: We're back, all right.

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Speaker 2: Welcome back. If you're just tune in, you're listening to

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Speaker 2: the Mark Mass Show.

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Speaker 3: And we're talking about the most talked about, the.

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Speaker 1: Richest man and famous, infamous, however you do it, Elon

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Speaker 1: Musk and what he's doing and what happened this week,

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Speaker 1: two things that are massive that tell us where the.

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Speaker 3: Future is going.

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Speaker 2: Now.

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Speaker 1: I talked about he took over Twitter, Why do you

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Speaker 1: take it over? I gave you some of his quotes

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Speaker 1: to what he said. It was so important, important for humanity,

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Speaker 1: free speech, etc. But then when he took it over,

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Speaker 1: he didn't want to turn into a healthscape. So he

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Speaker 1: took it over and he exposed the government corruption and

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Speaker 1: released the tw files. We know that I've covered that extensively. However,

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Speaker 1: then Twitter became a target. Now, Remember, as I said,

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Speaker 1: Elon Musk had been a champion, he had been a darling,

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Speaker 1: a sweethearted hero of the liberal left, and now all

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Speaker 1: of a sudden, they're coming after him because he exposed

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Speaker 1: corruption and because he wanted to allow free speech. So

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Speaker 1: it now is that Twitter's Twitter's allowing harmful content, racist content,

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Speaker 1: hate speech, Twitter's allowing misinformation. Twitter is now reluctant to

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Speaker 1: cooperate with law enforcement investigations and all of those things. Well, look,

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Speaker 1: free speech.

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Speaker 3: I hate to break this deal. Free speech is for

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Speaker 3: speech you don't like. How's that we don't need.

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Speaker 1: We don't need rules giving us permission to have freedom

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Speaker 1: of speech for speech that the government wants us to have.

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Speaker 1: We need free speech laws for the speech that they

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Speaker 1: don't want you to have.

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Speaker 3: That's the whole point.

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Speaker 1: So, yes, Twitter has potentially and I'm not saying they

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Speaker 1: do or they don't, but maybe there is mean things

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Speaker 1: posted on Twitter. That's the whole point of free speech. Now,

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Speaker 1: part of free speech is that you don't have to

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Speaker 1: listen to it. There's all types of filter set up

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Speaker 1: that you can block it, prevent it from showing up

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Speaker 1: on your feed, etc. But I don't want to get

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Speaker 1: into that's a whole different conversation for right now. But

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Speaker 1: I want to get more into why did he really

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Speaker 1: buy Space, why did buy Twitter? And what just happened

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Speaker 1: this week That really starts to steal a deal in that.

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Speaker 1: So let's go back in time a little bit. So

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Speaker 1: if you go back in time, what you can see

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Speaker 1: is that before Elon Musk started PayPal, he actually had

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Speaker 1: started a company called X which, as you're probably already were,

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Speaker 1: Twitter was just recently renamed X. Now, he had started

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Speaker 1: a company called X and then later urge that company

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Speaker 1: in order to form PayPal. Now, when he started PayPal,

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Speaker 1: he had a goal and this is all documented again

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Speaker 1: if you go watch this video on.

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Speaker 3: YouTube, you can go see this.

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Speaker 1: But they had a goal, and PayPal's goal was to

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Speaker 1: change money as we know it, to change the financial

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Speaker 1: system with technology. PayPal wanted to become a payment network,

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Speaker 1: and that was their original intension, but not to work

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Speaker 1: with the existing financial network, the existing payment network, but

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Speaker 1: in order to create a brand new one. That's what

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Speaker 1: they were trying to do. They wanted to change the

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Speaker 1: way the entire financial system worked and not just become

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Speaker 1: another fintech andnother. What PayPal is today, which basically works

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Speaker 1: sitting on top of the dollar rails. Let me, let me,

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Speaker 1: let me explain how that works. So gold had been

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Speaker 1: money for five thousand years. Gold's very slow to move around,

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Speaker 1: So you added a layer two on top of that,

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Speaker 1: which was paper certificates IOUs or claims to the gold.

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Speaker 1: That's a layer two technology. The paper moves around faster,

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Speaker 1: and you could redeem it for the gold if you want. Well,

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Speaker 1: then banks gave us the next layer, layer three, let's

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Speaker 1: call it credit checks. So now I could issue a check,

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Speaker 1: which is faster than trying to move around the PA

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Speaker 1: per certificates.

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Speaker 3: That's layer three.

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Speaker 1: Then we have credit cards that sit on top of

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Speaker 1: that visa master card that's layer four. Then we have

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Speaker 1: Venmo or PayPal that connects to our credit cards.

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Speaker 3: That's layer five.

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Speaker 1: But it all works on the same stack. So PayPal, Venmo,

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Speaker 1: they all work on the same stack. He wanted to create.

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Speaker 3: Something completely new, all right, but.

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Speaker 1: That didn't happen. He left PayPal, and that part of

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Speaker 1: what he wanted to do was put on the back burner.

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Speaker 1: Now I argued in this video nine months ago that

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Speaker 1: what the real play was that Elon Musk wanted to

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Speaker 1: come back and build the payment network finally that he

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Speaker 1: always wanted to do, because now we have the technology.

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Speaker 3: To do that, meaning cryptocurrencies.

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Speaker 1: At the time when he wanted to do this back

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Speaker 1: in the early days I think it was ninety nine,

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Speaker 1: didn't have that, but today we do so because this

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Speaker 1: was his always plan is always intention, I argue that's

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Speaker 1: what was the case. Now we saw that Elon Musk

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Speaker 1: went back and purchased the domain name X dot com

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Speaker 1: in twenty seventeen, So why would he have bought that

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Speaker 1: in twenty seventeen, Almost like he was starting to think

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Speaker 1: about this again. In late twenty twenty two, report surface

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Speaker 1: that X would be a product offering of Twitter by

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Speaker 1: twenty twenty three, So he had to go raise money

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Speaker 1: and he got investors and to the board he presented

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Speaker 1: this idea that it would be that this X would

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Speaker 1: be part of the product offering. Now, like I said,

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Speaker 1: now today we have it. So this was all kind

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Speaker 1: of a I covered this in the past.

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Speaker 3: I'm bringing you current.

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Speaker 1: But these are the same investor documents that he said

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Speaker 1: that he thinks Twitter could reach one point two billion

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Speaker 1: dollars in payment revenue by twenty twenty eight. In a

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Speaker 1: pitch deck it said fifth teen million in revenue by

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Speaker 1: twenty twenty three, which would be this year. And so basically,

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Speaker 1: what Elon Musk wanted to do previous to paypalt and

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Speaker 1: now is attempting to do is to revolutionize the world

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Speaker 1: of payments as we know it. Now that was all speculation. However,

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Speaker 1: we no longer have to speculate. As a matter of fact,

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Speaker 1: we got confirmation. Just this week we saw that Twitter

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Speaker 1: got approval or not Twitter, but x X got approval

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Speaker 1: for a currency transmitter license.

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Speaker 3: So what does that mean.

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Speaker 1: Well, if you're into cryptocurrency space, you probably already know this,

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Speaker 1: but if you move money around, you have to have

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Speaker 1: a license and you have to be a license to

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Speaker 1: transmit money. So crypto exchanges, crypto networks, things like that have.

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Speaker 3: To get these license and that's what he just went got.

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Speaker 2: Now.

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Speaker 1: I want to come back and dive into that in

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Speaker 1: a minute, but before we do, I want to go

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Speaker 1: back into why Elon Musk is now under so much

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Speaker 1: attack and specifically how he's under attack. So he's being

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Speaker 1: discredited because he allows, you know, hate speech to happen online.

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Speaker 1: As a matter of fact, he's in some lawsuits right

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Speaker 1: now trying to defend that he's under attacks for other areas.

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Speaker 1: Is it because they don't want free speech? Or is

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Speaker 1: it because they don't want you to have control over

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Speaker 1: how you store and spend your money? Well, I would

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Speaker 1: argue both, and I would argue that both of those

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Speaker 1: come down to you having freedom, you having freedom to choose.

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Speaker 2: That's what freedom is.

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Speaker 1: Freedom is freedom from I have freedom from coercion. I'm

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Speaker 1: free to do as I see fit, say what I want,

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Speaker 1: hold my wealth the way I want, spend my money

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Speaker 1: the way I want.

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Speaker 2: That's free.

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Speaker 1: And so both of those under attack. Now, what's been

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Speaker 1: happening in order to really try to take Elon Musk down, Well, a.

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Speaker 2: Couple of things that we can see.

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Speaker 1: Tesla is one of his companies, has been doing really

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Speaker 1: well well, and like I said, that's been the darling

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Speaker 1: of the left because of the ev boom that they're doing. However,

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Speaker 1: even because of that, or even with that in place,

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Speaker 1: they're still not liking him so much. Now I don't

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Speaker 1: want to dig super deep into that company itself, but

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Speaker 1: more specifically, let's talk about space X. Now, SpaceX is

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Speaker 1: the is another company that he owns that also got

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Speaker 1: about a half a billion dollars in funding from the government.

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Speaker 1: I believe he got that from NASA, so he got

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Speaker 1: about half a he got about a billion dollars. It

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Speaker 1: sounds like between Tesla and SpaceX from different parts of

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Speaker 1: the government the government either way. But now SpaceX seems

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Speaker 1: to be in hot water by the government as well.

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Speaker 1: This also just happened this week. So what's going on.

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Speaker 1: The government's giving them money to run or the government

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Speaker 1: doesn't like them. Well, there's different factions of the government obviously.

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Speaker 1: I want to break this down for you in a second.

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Speaker 1: If you're just tune in you're listening to the Mark

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Speaker 1: mass Show. We're talking about the richest man of the world,

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Speaker 1: maybe the most infamous man in the world, the most

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Speaker 1: talked about man in the world, and what is going on,

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Speaker 1: what happened this week with the payments company, what he's

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Speaker 1: planning on doing, and what's going on with this DOJ enforcement.

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Speaker 1: So I'm gonna cover that in a minute. I gotta

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Speaker 1: take a very quick break though, but you don't want

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Speaker 1: to miss it. I'll be right back in a second.

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Speaker 1: Don't go away, be're back, all right, Welcome back. If

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Speaker 1: you're just tune in, you're listening to the Mark Mass Show.

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Speaker 1: We're talking about the richest man, the most talked about man,

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Speaker 1: the famous man, infamous man. We're talking about Elon Musk

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Speaker 1: and talking about what he's trying to do and what

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Speaker 1: he's up against. So we talked about how now he's

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Speaker 1: gotten almost a billion dollars from the government for his companies.

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Speaker 3: He was the darling and now they don't like him anymore.

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Speaker 1: And it really had a big turn of events this week.

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Speaker 1: And this one is pretty scary, all right, this is

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Speaker 1: pretty scary. We saw that the Department of Justice is

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Speaker 1: now coming after his company, SpaceX. The Department of Justice

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Speaker 1: alleges that SpaceX has discouraged refugees and asylum seekers from

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Speaker 1: applying to open positions and refuse to hire those that did,

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Speaker 1: according to the complaint.

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Speaker 3: Now, according to the.

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Speaker 1: Complaint, SpaceX job postings wrongly stated that only US citizens

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Speaker 1: and lawful permanent.

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Speaker 3: Residents could apply for openings.

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Speaker 1: And that SpaceX is hiring practices were routine, widespread and

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Speaker 1: long standing, and harmed asylums, assilees and refugees. Now, under

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Speaker 1: US law, both asylum seekers and refugees are protected from

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Speaker 1: hiring discrimination regardless of citizens status the International Traffic in

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Speaker 1: Arms Regulations. Okay, so that's what they allege. So the

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Speaker 1: DOJ is now coming to him for discrimination because he

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Speaker 1: doesn't want to hire or according to the Job Board,

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Speaker 1: refugees and asylum seekers. But here's where it gets interesting.

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Speaker 1: Because SpaceX puts things into space, hence the name SpaceX.

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Speaker 1: Sends stuff up to space, up to the International Space

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Speaker 1: Station and things like that. They work with the government

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Speaker 1: and more specifically, they work with the military, and according

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Speaker 1: to the International Traffick in Arms Regulations, only for those regulations,

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Speaker 1: it only allows US citizens and Green card holders to

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Speaker 1: access information in companies that make spacecraft and rockets for

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Speaker 1: national security reasons.

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Speaker 3: As you might imagine.

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Speaker 1: Huh, seems like for national security reasons, that's probably a

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Speaker 1: good idea.

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Speaker 2: We should probably.

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Speaker 1: Only have citizens and Green card holders working on that stuff.

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Speaker 1: So they're coming after him for not allowing those people

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Speaker 1: to get jobs when he's bound by those laws because

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Speaker 1: he works with spacecraft and rockets, So what's really going

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Speaker 1: on here? It's sort of like it's sort of like

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Speaker 1: the mob. The mob, if they really want to lean

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Speaker 1: on you and they want to intimidate you, they send

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Speaker 1: someone over to your mother's house.

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Speaker 3: They don't do anything to your mom.

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Speaker 2: But it's sort of.

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Speaker 1: Like a message like, hey, we know where you live

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Speaker 1: and we can hit you where it hurts if we

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Speaker 1: want to, if we want to.

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Speaker 3: Now, why would they do that?

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Speaker 1: Well, Elon hasn't been shy about voicing his opinions in

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Speaker 1: the political realm. Right, Like I said, he says he's

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Speaker 1: free pro free speech, that he would allow former President

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Speaker 1: Donald Trump back onto Twitter if you bought the company.

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Speaker 1: Now he did, he reinstated Trump. As a matter of fact,

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Speaker 1: Trump just posted on x for the first time since

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Speaker 1: he got kicked off, and he posted his Georgia mugshot

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Speaker 1: that it was the first tweet that he's sent out

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Speaker 1: ever since.

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Speaker 2: So you have.

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Speaker 1: Musk allowing for free speech, allowing Donald Trump to target

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Speaker 1: number one of the left back on the platform. At

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Speaker 1: the same time, you have you know, and he's giving

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Speaker 1: a voice to Tucker Carlson and you know, Ron Desantas

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Speaker 1: and all these people at the same time, we're going

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Speaker 1: to as action period where the left wants to suppress.

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Speaker 3: All that information.

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Speaker 1: Now we know this factually can't be argued. We know

442
00:22:07,760 --> 00:22:09,960
Speaker 1: this fact because we have all the data that he

443
00:22:10,080 --> 00:22:12,359
Speaker 1: released in the Twitter files. So we know this happens

444
00:22:12,400 --> 00:22:15,440
Speaker 1: as a matter of fact. If you're not caught up

445
00:22:15,440 --> 00:22:16,120
Speaker 1: on the times.

446
00:22:16,880 --> 00:22:21,920
Speaker 3: Not only not only did this happen, not only.

447
00:22:21,720 --> 00:22:23,360
Speaker 1: Did it all get exposed, not only do we have

448
00:22:23,400 --> 00:22:25,920
Speaker 1: the emails, the text messages, not that we have all.

449
00:22:25,880 --> 00:22:26,600
Speaker 3: The smoking guns.

450
00:22:27,160 --> 00:22:31,399
Speaker 1: On top of that, a judge put an adjunction and

451
00:22:31,440 --> 00:22:34,960
Speaker 1: said that the Biden administration can no longer pressure these

452
00:22:35,000 --> 00:22:38,160
Speaker 1: social medias to censor information. So after this was released,

453
00:22:38,359 --> 00:22:40,200
Speaker 1: a judge put that injunction in place.

454
00:22:40,400 --> 00:22:43,119
Speaker 3: And what the Biden administration do? They went back and

455
00:22:43,160 --> 00:22:43,760
Speaker 3: appealed it.

456
00:22:44,560 --> 00:22:45,640
Speaker 2: Wait, wait, wait, what do you mean?

457
00:22:45,840 --> 00:22:47,959
Speaker 1: What do you mean we can't pressure them to do

458
00:22:48,000 --> 00:22:50,000
Speaker 1: what we want and take down who we want and

459
00:22:50,359 --> 00:22:51,520
Speaker 1: push up the other information.

460
00:22:51,760 --> 00:22:54,120
Speaker 3: What do you mean we can't do? We appeal your decision.

461
00:22:54,800 --> 00:22:56,400
Speaker 1: So not only do we know this as a matter

462
00:22:56,400 --> 00:22:58,000
Speaker 1: of fact because we have the smoking gun and the data,

463
00:22:58,320 --> 00:23:01,440
Speaker 1: we also know because a federal judge struck it down

464
00:23:01,480 --> 00:23:06,480
Speaker 1: and they're trying to overturn that. So now they send

465
00:23:06,520 --> 00:23:11,080
Speaker 1: somebody to Elon Musk's mother's house. The DOJ comes knocking

466
00:23:11,680 --> 00:23:16,600
Speaker 1: with some stupid, trumped up ambiguous charge which specifically is

467
00:23:16,640 --> 00:23:21,359
Speaker 1: written that they can't even do. Now again, is it

468
00:23:21,480 --> 00:23:24,800
Speaker 1: because of the freedom of speech? Is it because Donald

469
00:23:24,800 --> 00:23:28,280
Speaker 1: Trump or Tucker Carlson? Or is it just freedom in general?

470
00:23:28,320 --> 00:23:31,639
Speaker 1: Because let's go back now to the payments. Now, what

471
00:23:31,720 --> 00:23:34,520
Speaker 1: happened this week, as I said, is that Twitter got

472
00:23:34,680 --> 00:23:37,959
Speaker 1: or X. I'm still stuck with the old name X,

473
00:23:38,000 --> 00:23:41,320
Speaker 1: formerly known as Twitter. As I said, they you know,

474
00:23:41,400 --> 00:23:44,320
Speaker 1: his original vision with the PayPal Mafia as it was

475
00:23:44,359 --> 00:23:47,840
Speaker 1: called back then, was to change the payment networks entirely,

476
00:23:48,119 --> 00:23:51,359
Speaker 1: and again, not just a new system on top of

477
00:23:51,400 --> 00:23:53,480
Speaker 1: the dollar, but to go around the dollar, which of

478
00:23:53,480 --> 00:23:56,439
Speaker 1: course the government doesn't want that either. His partner at

479
00:23:56,480 --> 00:23:59,200
Speaker 1: the time, Peter Theo, some of his quotes that he

480
00:23:59,240 --> 00:24:01,080
Speaker 1: said it was, quote, we wanted to build a new

481
00:24:01,160 --> 00:24:04,760
Speaker 1: kind of payment network that would be more efficient, more secure,

482
00:24:05,040 --> 00:24:08,439
Speaker 1: and more convenient than the existing systems. We believe that

483
00:24:08,480 --> 00:24:11,560
Speaker 1: the Internet would eventually change the way people paid for things,

484
00:24:11,560 --> 00:24:12,919
Speaker 1: and we wanted to be at the forefront of that.

485
00:24:13,000 --> 00:24:13,400
Speaker 3: Change.

486
00:24:14,200 --> 00:24:15,160
Speaker 2: This is why they did it back then.

487
00:24:15,800 --> 00:24:17,879
Speaker 1: He said, quote, we wanted to create a payment network

488
00:24:17,920 --> 00:24:21,359
Speaker 1: that would be open to everyone, regardless of their credit

489
00:24:21,400 --> 00:24:23,679
Speaker 1: history of financial status. And that's a big one. I

490
00:24:23,720 --> 00:24:28,000
Speaker 1: talk about this all the time. The existing financial system

491
00:24:28,000 --> 00:24:30,760
Speaker 1: that we have today is not open for everybody. It's

492
00:24:30,800 --> 00:24:34,240
Speaker 1: not open for everyone. As a matter of fact, about

493
00:24:34,280 --> 00:24:37,360
Speaker 1: two billion adults in the world today do not have

494
00:24:37,480 --> 00:24:41,120
Speaker 1: access to banking because most of them don't have permission.

495
00:24:43,520 --> 00:24:46,080
Speaker 1: You're an asylum seeker, which we're supposed to protect, But

496
00:24:46,359 --> 00:24:48,359
Speaker 1: where's your documentation, Oh you don't have it.

497
00:24:48,440 --> 00:24:51,440
Speaker 2: Well, no bankcount for you. Oh you're a fourteen.

498
00:24:51,200 --> 00:24:54,480
Speaker 3: Year old kid that grew up in Iran, Well you're

499
00:24:54,480 --> 00:24:55,280
Speaker 3: on the sanctions list.

500
00:24:55,280 --> 00:25:00,000
Speaker 4: No bankcount for you. You see, it's not open for everybody,

501
00:25:00,160 --> 00:25:01,560
Speaker 4: and so they wanted to open They wanted to create

502
00:25:01,560 --> 00:25:03,640
Speaker 4: one that would be open for everybody, sort of like bitcoin,

503
00:25:03,800 --> 00:25:07,680
Speaker 4: open borderless, permissionless, permissionless. He said, quote, we wanted to

504
00:25:07,680 --> 00:25:09,639
Speaker 4: make it easier for people to send and receive money

505
00:25:09,800 --> 00:25:13,200
Speaker 4: no matter where they were in the world. But as

506
00:25:13,200 --> 00:25:16,600
Speaker 4: we know, PayPal didn't break didn't break the mold, they

507
00:25:16,600 --> 00:25:17,960
Speaker 4: didn't change the payment networks.

508
00:25:18,200 --> 00:25:19,440
Speaker 2: They ended up using the.

509
00:25:19,359 --> 00:25:21,679
Speaker 3: Existing dollar rails that were already there.

510
00:25:21,800 --> 00:25:23,679
Speaker 1: But again, like I said, now Musk is back to

511
00:25:23,800 --> 00:25:26,800
Speaker 1: finish the job that he started almost twenty five years ago. Now,

512
00:25:27,320 --> 00:25:29,199
Speaker 1: like I said, we know that he just got the

513
00:25:29,240 --> 00:25:34,040
Speaker 1: crypto license. Twitter got approved for a currency transmitter license,

514
00:25:34,560 --> 00:25:39,200
Speaker 1: and the license lets companies store, transfer, and exchange digital assets,

515
00:25:39,240 --> 00:25:42,560
Speaker 1: as well as hold assets on behalf of its users.

516
00:25:42,560 --> 00:25:45,480
Speaker 1: Now that's a big one, hold assets on behalf of

517
00:25:45,520 --> 00:25:48,000
Speaker 1: the usual I'll explain that a second. Now, the license

518
00:25:48,040 --> 00:25:52,760
Speaker 1: also includes related service providers like crypto wallets, payment processors.

519
00:25:52,080 --> 00:25:52,920
Speaker 3: And exchanges.

520
00:25:53,760 --> 00:25:58,679
Speaker 1: Now what's interesting is that Twitter under Jack Dorsey before

521
00:25:58,760 --> 00:26:01,920
Speaker 1: Elon took it over, I've already built this in. It's

522
00:26:01,920 --> 00:26:05,080
Speaker 1: an important note. So Jack Dorsey already built this in,

523
00:26:06,880 --> 00:26:10,280
Speaker 1: and he built in the ability to use bitcoin to

524
00:26:10,440 --> 00:26:13,520
Speaker 1: send tips. So right now, if you go to my

525
00:26:13,600 --> 00:26:16,160
Speaker 1: Twitter profile, which I'm locked out of by the way,

526
00:26:16,520 --> 00:26:18,880
Speaker 1: I've been locked out of Twitter for now, I think

527
00:26:19,160 --> 00:26:21,840
Speaker 1: three weeks, going on four weeks. A hacker took over

528
00:26:21,840 --> 00:26:23,720
Speaker 1: my account, I can't get back in. But if you

529
00:26:23,760 --> 00:26:25,960
Speaker 1: were to go to my account, well you can see

530
00:26:25,960 --> 00:26:27,440
Speaker 1: at the top or anybody else account that there's like

531
00:26:27,480 --> 00:26:29,720
Speaker 1: a little dollar icon and you can actually send them

532
00:26:29,760 --> 00:26:32,680
Speaker 1: tips and you could send bitcoin over there. So that's

533
00:26:32,680 --> 00:26:37,920
Speaker 1: already there, but that's done through linking either cash app Strike,

534
00:26:38,240 --> 00:26:41,360
Speaker 1: PayPal or Venmo something like that to plug in the gap.

535
00:26:41,400 --> 00:26:45,639
Speaker 1: So we can already send money over Twitter x. But

536
00:26:45,720 --> 00:26:48,600
Speaker 1: what he did is something different. He wanted to get

537
00:26:48,600 --> 00:26:52,359
Speaker 1: the money transmitter license so that Twitter itself could transmit

538
00:26:52,400 --> 00:26:55,479
Speaker 1: the money. So why what's the difference of that. Why

539
00:26:55,520 --> 00:26:58,879
Speaker 1: would Twitter care more about you leaving your money on their.

540
00:26:58,640 --> 00:26:59,879
Speaker 3: Platform or not?

541
00:27:01,640 --> 00:27:04,560
Speaker 1: You see, because right now we can already send bitcoin

542
00:27:04,640 --> 00:27:07,439
Speaker 1: across Twitter, but we use it with a third party

543
00:27:07,480 --> 00:27:10,960
Speaker 1: service cash app Strike, etc. He wants it where it

544
00:27:11,000 --> 00:27:13,800
Speaker 1: can be done on Twitter. So what's the difference. I'll

545
00:27:13,800 --> 00:27:15,200
Speaker 1: break that down for in a second. If you're just tuning,

546
00:27:15,240 --> 00:27:18,119
Speaker 1: you're listening to the Mark Maas show talking about the

547
00:27:18,280 --> 00:27:21,200
Speaker 1: richest man, the most infamous man, famous man talked about

548
00:27:21,240 --> 00:27:23,280
Speaker 1: man in the world. We're talking about Elon Musk. What

549
00:27:23,560 --> 00:27:26,280
Speaker 1: happened this week that showed the direction of where we're going,

550
00:27:26,280 --> 00:27:29,800
Speaker 1: not just with Twitter, but unfortunately with the government over all.

551
00:27:30,080 --> 00:27:31,480
Speaker 1: So I got a whole lot more to cover when

552
00:27:31,480 --> 00:27:33,800
Speaker 1: I come back, but I have to take a quick

553
00:27:33,840 --> 00:27:34,240
Speaker 1: break but.

554
00:27:34,240 --> 00:27:35,359
Speaker 2: I'm gonna be gone just for a second.

555
00:27:35,359 --> 00:27:35,920
Speaker 3: Don't go away.

556
00:27:36,119 --> 00:27:38,200
Speaker 1: I'll be back in a second with more. If you

557
00:27:38,200 --> 00:27:40,720
Speaker 1: don't want to miss it, don't go away, all right.

558
00:27:40,680 --> 00:27:41,080
Speaker 2: Welcome back.

559
00:27:41,080 --> 00:27:42,560
Speaker 1: If you're just tune in, you're listening to the Mark

560
00:27:42,600 --> 00:27:46,879
Speaker 1: mass Show. We're talking about Elon Musk and what the

561
00:27:46,920 --> 00:27:51,280
Speaker 1: heck he's doing with Twitter and X as it's now

562
00:27:51,320 --> 00:27:56,880
Speaker 1: known X formerly known as Twitter, and what happened this week.

563
00:27:56,920 --> 00:27:59,040
Speaker 1: There were some big moves both from the government, the

564
00:27:59,119 --> 00:28:02,800
Speaker 1: DOJ I just talked about, and what he just got

565
00:28:02,840 --> 00:28:05,959
Speaker 1: to prove for and that is a money transmitter license. Now,

566
00:28:06,000 --> 00:28:08,120
Speaker 1: as I said, you could already send money, You could

567
00:28:08,160 --> 00:28:11,520
Speaker 1: already send bitcoin over the Twitter platform, the X platform,

568
00:28:11,800 --> 00:28:14,520
Speaker 1: but he went and got this because Twitter wants to

569
00:28:14,560 --> 00:28:15,359
Speaker 1: be able to move the money.

570
00:28:15,359 --> 00:28:16,120
Speaker 3: So what does that mean?

571
00:28:16,280 --> 00:28:19,800
Speaker 1: Well, maybe at first, do you think it's just so

572
00:28:19,840 --> 00:28:22,080
Speaker 1: that they could collect transaction fees? Right, if you're just

573
00:28:22,119 --> 00:28:24,359
Speaker 1: using third party platforms, they don't really have anything to

574
00:28:24,400 --> 00:28:25,639
Speaker 1: do with that, They have no control over that, they

575
00:28:25,640 --> 00:28:26,600
Speaker 1: don't get any money from that.

576
00:28:26,960 --> 00:28:27,560
Speaker 2: That makes sense.

577
00:28:28,040 --> 00:28:29,920
Speaker 1: I mean they'd like to get a transaction fee off

578
00:28:29,920 --> 00:28:32,240
Speaker 1: of each one. You know, every time you send or

579
00:28:32,240 --> 00:28:35,560
Speaker 1: receive money. But I think that's too simple of an answer, right,

580
00:28:36,440 --> 00:28:38,479
Speaker 1: I think that would just be scratching the surface. Now

581
00:28:38,480 --> 00:28:41,280
Speaker 1: we've seen in recent months, Twitter has announced their intention

582
00:28:41,360 --> 00:28:44,840
Speaker 1: to compete with pretty much every other platform. They're all

583
00:28:44,840 --> 00:28:49,200
Speaker 1: competing with each other, right, Zuckerberg just launched a Twitter competitor,

584
00:28:50,200 --> 00:28:52,600
Speaker 1: and Twitter wants to compete with them. So, like Twitter

585
00:28:52,600 --> 00:28:56,680
Speaker 1: has been prioritizing videos for example, which is obviously a

586
00:28:56,720 --> 00:28:59,800
Speaker 1: move to start competing against YouTube. Twitter has also announced

587
00:28:59,800 --> 00:29:04,920
Speaker 1: their intention to compete with Instagram, TikTok, well and YouTube

588
00:29:04,920 --> 00:29:09,840
Speaker 1: by posting long form video content images. And also we've

589
00:29:09,840 --> 00:29:13,240
Speaker 1: seen that Meta has been investing heavily in its shopping

590
00:29:13,280 --> 00:29:16,960
Speaker 1: features such as shops and live shopping. With shops that

591
00:29:17,000 --> 00:29:20,360
Speaker 1: allows businesses to create an online storefront in their you know,

592
00:29:20,440 --> 00:29:24,160
Speaker 1: in their own Facebook profile, in Instagram apps, and live

593
00:29:24,200 --> 00:29:27,840
Speaker 1: shopping allows businesses to host live video events where you

594
00:29:27,920 --> 00:29:31,000
Speaker 1: can shop for products. Now I haven't personally used that

595
00:29:31,200 --> 00:29:33,560
Speaker 1: or participate in that, but I have a little brother

596
00:29:33,640 --> 00:29:38,800
Speaker 1: who sells Pokemon cards and he does that not on

597
00:29:39,080 --> 00:29:41,080
Speaker 1: obviously on Twitter yet, but I think he does it

598
00:29:41,120 --> 00:29:43,920
Speaker 1: on TikTok and some other platforms where like he'll livestream

599
00:29:43,960 --> 00:29:46,520
Speaker 1: for like six or eight hours a day and people

600
00:29:46,640 --> 00:29:48,760
Speaker 1: just tune in all day as he does. He's unboxing

601
00:29:48,760 --> 00:29:51,800
Speaker 1: and he opens up packs of cards and he makes

602
00:29:51,800 --> 00:29:53,840
Speaker 1: a lot of money, which is interesting because that wasn't

603
00:29:53,880 --> 00:29:56,240
Speaker 1: like on my job checklist when I was a kid,

604
00:29:56,400 --> 00:29:58,120
Speaker 1: like sell Pokemon cards online.

605
00:29:58,680 --> 00:30:00,080
Speaker 2: It was like doctor lawyer.

606
00:30:00,040 --> 00:30:01,600
Speaker 3: Vironment I didn't I didn't have that option.

607
00:30:02,240 --> 00:30:04,720
Speaker 1: But these are these are big things, and it looks

608
00:30:04,760 --> 00:30:07,000
Speaker 1: like he wants to compete with that, compete with Meta

609
00:30:07,080 --> 00:30:10,680
Speaker 1: Instagram doing that, compete with TikTok that's doing that because

610
00:30:10,720 --> 00:30:14,640
Speaker 1: TikTok has been investing heavily into these shopping features. They

611
00:30:14,680 --> 00:30:18,040
Speaker 1: allow business to sell products directly from within their TikTok

612
00:30:18,080 --> 00:30:21,600
Speaker 1: app as well, and they've been working on TikTok's been

613
00:30:21,600 --> 00:30:23,720
Speaker 1: working on a new feature called Checkout that will allow

614
00:30:23,840 --> 00:30:27,560
Speaker 1: users to buy products directly from within the TikTok app.

615
00:30:28,960 --> 00:30:32,640
Speaker 1: So what does this mean, Well, they want to do

616
00:30:32,680 --> 00:30:34,080
Speaker 1: it inside the app.

617
00:30:34,120 --> 00:30:34,680
Speaker 3: Think about this.

618
00:30:36,120 --> 00:30:39,000
Speaker 1: You might have ever gotten a Starbucks card at one point.

619
00:30:39,640 --> 00:30:41,880
Speaker 1: I know, for whatever reason, my wife loves to put

620
00:30:41,920 --> 00:30:42,280
Speaker 1: money on.

621
00:30:42,280 --> 00:30:43,000
Speaker 2: Her Starbucks card.

622
00:30:43,080 --> 00:30:44,680
Speaker 1: So when she goes to Starbucks, she just shows them

623
00:30:44,720 --> 00:30:46,480
Speaker 1: her little QR code and she could just pay without

624
00:30:46,480 --> 00:30:49,760
Speaker 1: having to give her credit card. I think, like, I mean,

625
00:30:49,840 --> 00:30:51,680
Speaker 1: just hand over the credit card. It's the same difference, right,

626
00:30:51,720 --> 00:30:54,000
Speaker 1: But she likes to do that, and apparently so do

627
00:30:54,080 --> 00:30:56,720
Speaker 1: lots of other people. As a matter of fact, I

628
00:30:56,760 --> 00:30:58,840
Speaker 1: was looking at some numbers this morning, and it looks

629
00:30:58,880 --> 00:31:04,239
Speaker 1: like Starbucks is on roughly two billion dollars.

630
00:31:03,960 --> 00:31:05,080
Speaker 3: Of what we'd call float.

631
00:31:06,120 --> 00:31:08,320
Speaker 1: Float is what insurance companies use to make a lot

632
00:31:08,320 --> 00:31:11,120
Speaker 1: of money. You pay insurance companies money for your premiums,

633
00:31:11,120 --> 00:31:12,880
Speaker 1: but you don't need that money back right away. You

634
00:31:12,920 --> 00:31:14,840
Speaker 1: don't have a claim right away, so they hold that

635
00:31:14,960 --> 00:31:17,600
Speaker 1: money until they have to pay out on claims. But

636
00:31:17,720 --> 00:31:20,080
Speaker 1: it's what they do with that money in the meantime

637
00:31:20,120 --> 00:31:22,280
Speaker 1: that the float. What they do with it, well, they

638
00:31:22,280 --> 00:31:24,080
Speaker 1: invest it and they make a lot of money. When

639
00:31:24,120 --> 00:31:26,520
Speaker 1: you're talking about hundreds of billions of dollars or billions

640
00:31:26,520 --> 00:31:29,320
Speaker 1: of dollars, even just a few days of float can

641
00:31:29,360 --> 00:31:33,840
Speaker 1: make a lot of money. So Starbucks geniusly created this

642
00:31:33,920 --> 00:31:37,840
Speaker 1: program where now users like my wife have given them

643
00:31:37,880 --> 00:31:41,600
Speaker 1: money to sit on their card the float, and it's

644
00:31:41,640 --> 00:31:45,960
Speaker 1: about two billion dollars. So if TikTok or Instagram or

645
00:31:46,000 --> 00:31:48,880
Speaker 1: now X want to do the same thing and allow you.

646
00:31:48,960 --> 00:31:51,560
Speaker 1: What X is doing as a money transmitter is now

647
00:31:51,600 --> 00:31:54,680
Speaker 1: I can put money into the X app so that

648
00:31:54,720 --> 00:31:57,000
Speaker 1: then I can spend it directly out of the app

649
00:31:57,120 --> 00:32:00,920
Speaker 1: for different types of things. Remember what I said is

650
00:32:00,960 --> 00:32:02,920
Speaker 1: like to make money on the transaction fee, I think

651
00:32:03,000 --> 00:32:05,680
Speaker 1: is too small minded. He wants two billion dollars worth

652
00:32:05,680 --> 00:32:08,520
Speaker 1: of float. I mean, toot, I'll take two billion dollars

653
00:32:08,520 --> 00:32:09,920
Speaker 1: worth flat. Maybe I should come up with a way

654
00:32:09,920 --> 00:32:11,960
Speaker 1: to do that as well, of course he wants that.

655
00:32:12,880 --> 00:32:15,960
Speaker 1: Now we also know that Musk wants to have basically

656
00:32:16,000 --> 00:32:21,600
Speaker 1: an everything app where there's new social media, messaging, pictures, videos, payments, shopping,

657
00:32:21,920 --> 00:32:24,640
Speaker 1: all of that inside of.

658
00:32:25,720 --> 00:32:26,720
Speaker 3: The entire app.

659
00:32:26,800 --> 00:32:28,520
Speaker 2: I mean, he's talked about it in China.

660
00:32:28,600 --> 00:32:30,720
Speaker 1: I've never been to China, but they have an app

661
00:32:30,760 --> 00:32:33,880
Speaker 1: called we Chat, and we Chat basically has everything in there,

662
00:32:33,920 --> 00:32:37,360
Speaker 1: from calling your uber to ordering your food, to having

663
00:32:37,400 --> 00:32:41,400
Speaker 1: your banking, to making your payments, to your chatting, your video,

664
00:32:41,600 --> 00:32:43,200
Speaker 1: all of that is all built in.

665
00:32:44,600 --> 00:32:46,240
Speaker 2: Now, if Twitter does.

666
00:32:46,160 --> 00:32:48,440
Speaker 3: Roll this out, who are.

667
00:32:48,320 --> 00:32:54,840
Speaker 1: They competing against, Well, they'd be competing against other custodial wallets.

668
00:32:55,040 --> 00:32:57,640
Speaker 1: So right now I can store my bitcoin on my

669
00:32:57,680 --> 00:33:00,840
Speaker 1: own and I could send it over Twitter, but using

670
00:33:00,840 --> 00:33:03,200
Speaker 1: a third using my own third party app, so they

671
00:33:03,240 --> 00:33:06,520
Speaker 1: don't have control. But if Twitter takes control, they want

672
00:33:06,560 --> 00:33:09,640
Speaker 1: to store my cryptocurrency for me, then I'm competing against

673
00:33:09,680 --> 00:33:14,000
Speaker 1: other custodial wallets, including coinbase, Binance, Gemini, Crack and things

674
00:33:14,040 --> 00:33:19,040
Speaker 1: like that. And all of those are actually sort of

675
00:33:19,120 --> 00:33:22,880
Speaker 1: crypto marketplaces because I can go there and I can

676
00:33:23,000 --> 00:33:26,960
Speaker 1: trade one cryptocurrency for another. Now I can't trade cryptocurrency

677
00:33:27,000 --> 00:33:29,360
Speaker 1: for like a physical object, not right now, not on

678
00:33:29,400 --> 00:33:31,920
Speaker 1: any of those, but I can trade crypto for each other.

679
00:33:32,120 --> 00:33:36,120
Speaker 1: So maybe he also wants to allow you to trade cryptocurrencies.

680
00:33:36,160 --> 00:33:39,200
Speaker 1: We don't know that part. We don't know that part yet.

681
00:33:39,240 --> 00:33:41,640
Speaker 1: That's a little bit of speculation. Maybe it could be

682
00:33:41,720 --> 00:33:46,120
Speaker 1: more like this company Packsfull that allowed you to pair

683
00:33:46,320 --> 00:33:49,080
Speaker 1: up with somebody looking for one asset with another. So

684
00:33:49,200 --> 00:33:52,400
Speaker 1: maybe you have a home Depot gift card and I

685
00:33:52,480 --> 00:33:54,800
Speaker 1: have some crypto and we can meet up and I

686
00:33:54,840 --> 00:33:57,720
Speaker 1: can I can buy your home Depot gift card with

687
00:33:57,760 --> 00:34:01,480
Speaker 1: my crypto. Maybe it's something like that. We don't really

688
00:34:01,520 --> 00:34:03,160
Speaker 1: know the answer to that, but what we do know

689
00:34:03,640 --> 00:34:07,840
Speaker 1: is that the payment piece is coming on board. Now

690
00:34:07,880 --> 00:34:09,839
Speaker 1: he could also try to be competing with the more

691
00:34:09,840 --> 00:34:12,640
Speaker 1: of the traditional finance we call it trad FI network

692
00:34:12,760 --> 00:34:16,080
Speaker 1: like PayPal, which of course he's been wanting to take

693
00:34:16,120 --> 00:34:20,440
Speaker 1: on PayPal since the beginning. Now we know that MasterCard

694
00:34:20,480 --> 00:34:23,959
Speaker 1: has been closing partnerships with Finance, a crypto exchange, trying

695
00:34:23,960 --> 00:34:25,800
Speaker 1: to expand its footprint in the crypto space.

696
00:34:26,600 --> 00:34:27,239
Speaker 2: So we see that.

697
00:34:27,280 --> 00:34:30,800
Speaker 1: So we started to see this creep of traditional finance

698
00:34:30,880 --> 00:34:36,600
Speaker 1: trad fi creeping into the digital asset space PayPal, etc.

699
00:34:37,360 --> 00:34:40,120
Speaker 1: And we can see that digital assets are being transferred

700
00:34:40,160 --> 00:34:43,319
Speaker 1: faster than fiat. As a matter of fact, we can

701
00:34:43,320 --> 00:34:46,400
Speaker 1: see that stable coins, which are US dollar back stable coins,

702
00:34:46,440 --> 00:34:50,680
Speaker 1: a crypto backed by dollars, settled over eleven trillion dollars

703
00:34:50,719 --> 00:34:53,640
Speaker 1: on the blockchain last year in twenty twenty two, and

704
00:34:53,680 --> 00:34:57,600
Speaker 1: it was almost the same as Visa's transaction volume of

705
00:34:57,640 --> 00:34:58,840
Speaker 1: eleven point six.

706
00:35:00,520 --> 00:35:01,920
Speaker 3: So think about that.

707
00:35:02,160 --> 00:35:05,160
Speaker 1: With just in a decade, we're now seeing just dollars

708
00:35:05,160 --> 00:35:09,680
Speaker 1: stablewo it's not crypto overall, just stable coins doing about

709
00:35:09,719 --> 00:35:13,520
Speaker 1: as much volume as Visa did. Now, if stable coins

710
00:35:13,520 --> 00:35:16,960
Speaker 1: are competing with Visa, what happens when Twitter? What happens

711
00:35:17,000 --> 00:35:19,839
Speaker 1: when Twitter with about four and fifty million users has

712
00:35:19,880 --> 00:35:23,359
Speaker 1: immediate access to their stable coins, which can complete a

713
00:35:23,840 --> 00:35:28,560
Speaker 1: transaction faster than Fiat does. Well, the answer is people

714
00:35:28,600 --> 00:35:31,440
Speaker 1: would slowly use the Fiat rails less and less and

715
00:35:31,560 --> 00:35:35,160
Speaker 1: less an opt into the faster network. Now, I'd also

716
00:35:35,440 --> 00:35:39,040
Speaker 1: just mentioned that PayPal just recently launched a stable coin.

717
00:35:39,760 --> 00:35:41,680
Speaker 1: It hasn't taken off super big. I mean it's been

718
00:35:41,719 --> 00:35:44,279
Speaker 1: out just recently. I think they've somehow got into about

719
00:35:44,320 --> 00:35:47,680
Speaker 1: forty million dollars something like that. But don't you think

720
00:35:47,880 --> 00:35:51,600
Speaker 1: Elon Musk wants to beat PayPal out the company that

721
00:35:51,880 --> 00:35:54,080
Speaker 1: kind of took over his original vision that he never

722
00:35:54,120 --> 00:35:57,239
Speaker 1: got to build. Now he's finally building his vision. And

723
00:35:57,280 --> 00:36:01,800
Speaker 1: if PayPal steps in and moves into the stable coin space,

724
00:36:02,080 --> 00:36:05,040
Speaker 1: I mean he has to do it. It's a pretty.

725
00:36:04,760 --> 00:36:05,840
Speaker 3: Obvious next step.

726
00:36:05,880 --> 00:36:09,839
Speaker 1: I would think potentially having a Twitter bank, right, It's

727
00:36:09,920 --> 00:36:12,640
Speaker 1: just like how PayPal stores people's money. Twitter can store

728
00:36:12,640 --> 00:36:17,440
Speaker 1: people's money, right, If he has the money, if we're

729
00:36:17,400 --> 00:36:20,400
Speaker 1: storing our money there, then it allows for these payments

730
00:36:20,400 --> 00:36:21,160
Speaker 1: and deposits to.

731
00:36:21,080 --> 00:36:23,600
Speaker 3: Be made operating basically as a bank.

732
00:36:24,080 --> 00:36:26,000
Speaker 1: Now, if we step back and remove digital assets and

733
00:36:26,080 --> 00:36:29,600
Speaker 1: social media and look at this from first principles we

734
00:36:29,640 --> 00:36:33,719
Speaker 1: can see it's a bank, we can see that. So

735
00:36:33,800 --> 00:36:38,239
Speaker 1: this is where it's going. A we chat, a payment chat.

736
00:36:39,480 --> 00:36:41,840
Speaker 1: But if he doesn't fall in line, we're gonna have

737
00:36:41,840 --> 00:36:44,440
Speaker 1: to see. We'll probably see more and more crackdowns from

738
00:36:44,440 --> 00:36:48,920
Speaker 1: the DOJ, the SEC, the FTC and it's going to

739
00:36:49,000 --> 00:36:52,120
Speaker 1: be very very interesting to watch this play out. I'd

740
00:36:52,160 --> 00:36:53,759
Speaker 1: love to hear your take on this. Hit me up

741
00:36:53,800 --> 00:36:56,600
Speaker 1: on social media at one Mark Moss and let me

742
00:36:56,640 --> 00:36:59,240
Speaker 1: know your thoughts on this. But that's what we got today.

743
00:36:59,480 --> 00:37:01,000
Speaker 1: If you just you and you're listening to the Mark

744
00:37:01,040 --> 00:37:03,759
Speaker 1: Maas Show, we've been covering a lot. If you've missed it,

745
00:37:03,800 --> 00:37:05,520
Speaker 1: you can check it out on the podcast on your

746
00:37:05,520 --> 00:37:07,759
Speaker 1: favorite podcast player, just search the Mark mass Show.

747
00:37:08,200 --> 00:37:10,000
Speaker 3: And that's what I got. Thanks so much for listening.

748
00:37:10,280 --> 00:37:10,960
Speaker 3: Until next time,