Welcome back everyone. I am Caspian Sea and I'm joined
as usual by my partner in crime mr.
Bennett Tomlin, wow, I screwed that up but we have a special
guest today. And to be honest, I'm just going
to defer to Bennett so that he can introduce Our Guest today.
We are joined by owner of the Dallas Mavericks and the
favorite shark for our producer from his favorite TV show,
Shark, Tank, Mark, Cuban, how are you doing, Mark?
I'm Greg Bennett, how You I'm doing quite well.
So I think to start both cast and I are actually huge fans and
one of the things we bonded over was actually a movie, you
produced called the China hustle.
Yeah. And yeah, I mentioned this one's
on Twitter and then you pointed out to me that you'd also ran
another website called share sloops that does investigations
into a bunch of different companies possibly committing
frauds. Yeah.
So can you talk to us a little bit about how you got interested
in those types of frauds? And How you think about
shorting. So, let's start with share
sleuth. You know, for every hundred or
1500, whatever. The number is good companies.
There's always going to be scam. Always, you know, why did we
Willie Keeler? No, that's not who it was.
Why did they why do people rob banks?
That's where the money is, why do people have scam companies
that are go public? That's where the money is.
And so there just wasn't anybody who I thought was doing a good
job 1 and 2 was a no Unity for me to make money.
Most investors just don't do the work when it comes to investing
questionable companies, you know, there was one of the
companies we did originally and I'm spacing the exact name of
it. But effectively, they were a
company that was coming up with some new energy, whatever.
And they had this big plant and they would that they announced,
and the stock will go up, then they do another press release in
the stock will go up. This is around the 2006-2007
time frame. And so, What Chris who does all
this work for me did was he sent?
Somebody call somebody locally and said go look at the plant.
See if the lights are on. There are no cars in the parking
lot in the middle of a Monday, afternoon or whatever, there
were no lights on the called the utility company to check to see
if there are any utilities turned up.
No. So he wrote about it.
I shorted the stock and we've been doing that for the last 15
16 years. And, you know, shorty there's a
bunch of different reasons to shortest.
One is you think about valuation?
I usually don't short based off of value where I haven't in
years and years and years because you don't know what the
markets going to do. But then there are companies
that are just outright scams you know or they're run by people
that have bounced from scam to scam to scam or they're run by
people who are really good at pumping up, stocks and allowing
somebody else to dump those stock and Chris has done an
amazing job of defining those networks.
And that gives him a Advantage and I just closed when I have
whatever position, I have, if any in the stock, some, you
know, there's just not enough money there to make it
worthwhile but we'll publish in any ways to try to protect
investors, you know. So that's why we did it.
My question is you like you said, you've been doing that for
15 or 16 years now? So I guess I'm wondering it
must. It must have proven repeatedly
to have been profitable for you for you to continue to do it,
right? Yep, okay, okay.
Yeah, I'm wondering if you think about share sleuth, like if
these tips and tricks and all this stuff, if you think about
it, similarly, to the China hustle, we're like you could
build stories about it. The same way that you did about
the China hustle or did you or is that just set?
The not wholly, different, totally different, no connection
at all. Actually, I did try to hustle
more to embarrass the SEC because there are all these
reverse mergers that you could even audit their books, right?
You know, so and I would give the SEC shit.
For four years now. And it's the most obvious
hustle, ever that. They're just now starting to
address and they still haven't fully addressed it.
You can be a public company and your books not be audited.
And there's no way for investors to even find out what your
actual p&l or balance sheet is in and that's fucked up, you
know? And I remember probably five or
six years ago, right before we did China hostile talking to Jim
Cramer on CNBC. And I said, you know, at the
time for there was like four trillion out of fifteen trillion
in market cap where Chinese related companies, Alibaba Etc
and I'm like Jim, there's no I did it financials that anybody
can trust and you know the government of China could just
say and tell him you know to do whatever they want him to do.
And you know, why are we allowing these stocks to be
traded in the you know on our big exchanges at all.
China didn't like it. The SEC do I liked it, but it
was a, but I did do it. You know, I did it really just
to embarrass the SEC but that was fighting them at the time
and it was just ridiculous that hypocrisy and the irony of it
all. And to this day, now, at least
have starting to try to address it.
But the concept that you can be a multi-billion, hundreds of
billions, whatever it may be valuation stock on a major
Exchange in this country and you don't, you can't really test for
trust the the financials. Is that the definition of
insanity. So, do you see any similarities
between those Chinese reverse mergers in some of the
multi-billion dollars back deals?
We've seen in the last year to go public?
No, no. They're different, you know, and
I got offered to do a lot of facts and just refuse to do it
for a lot of reasons. There's a difference between The
Vig that a faculty allows the creators and and the initial
investors to to gain versus having zero transparency.
It may not be great economics for investors with this back,
but at the same time it's transparent.
And as long as you have the transparency, you know, I think
that's what you need. Can't specs go public without
audited financials though, in the same way, that a reverse
merger can practice self-care, but you've gotta merge in the
company and then at that point, you've got to get audited.
Yeah, yeah, yeah, for your initial years filings, but
you're still Trading Post promises anything and everything
but that's the ultimate speculation because there's no
Company for you to to examine at that point in time and you're
trusting the people putting together the spec.
So, you know, that's just like hiring an advisor and you're
giving them money and saying, okay, go invest, that's a lot
of, you know, VC fund, same type of thing, right?
You don't know until you know, well this this is a good point.
I'd like to make about this now that you've brought this up is
that I'm wondering you you're saying, well at least the SEC is
starting to do some of this stuff now.
Do you just mean in regard to China?
Because I think China. Okay because then I feel very
frustrated with the way the SEC operates, I think it's a lot of
hypocrisy like you're talking about where if you have big
pockets and you can pay you just simplify all of it, right?
There are companies that trade on exchanges, major exchanges
and we can argue and the SEC will argue what they do or don't
do. And whether it is a, what, what,
what value there is then, there's the bulletin board pink
sheets and OTC. He stalks then I'll get traded
where anything goes another analogy I used for crypto,
right? Because it's like, you think
stocks are safe, you know, once you, I don't even know the
number of publicly traded stocks now because so many went public.
Let's just say it's 6,000, right?
I'm betting. There are far more pink sheets
OTC bulletin board stocks that trade, and it's ridiculous that
there is no oversight other than basic reporting.
Fireman's at best. Now you know it's harder to find
pricing and everything but that's all the more reason.
When there's horrible price Discovery, there's more
opportunity for fraud, bankrupt companies, trade, and they
trade, millions, and billions of shares.
It's insane. You know, I've said this for
years since I started battling the SEC, if the SEC you truly
wanted to protect investors. They go through a process of
making everything. They do bright line, there are
no bright line regulations, you know there.
The SEC is messed up made up of mostly attorneys, because that's
how they want to approach things.
You know, they want to litigate to regulate, and to me that's
just wrong on a thousand levels. And if, you know, furthering the
hypocracy hypocrisy, you know, the SEC talked about wanting to
protect our markets. Well, if you look at things like
insider trading as it applies to other other countries, right,
and other markets where they don't have an SEC equivalent or
it operates, you know, with one tenth of the, the Chant of the
SEC yet. There are funds for those
companies countries that trade on the, on the major exchanges,
you know, develop marketing fund.
So, you know, pick a country that has a developing stock
market and there's an ETF or something for it.
And so the SEC approves an ETF to invest in companies that have
no audit standards whatsoever and no oversight and allows any
Tom Dick or Harry investor to Just in that.
It's insane. It is absolutely insane.
The job of the SEC. Doesn't look at their job to
proactively invest, protect investors every completely
reactive. Yeah, that was, that was a
point. We talked about with Jim chanos
when he came on our show last week, where he was talking about
how short sellers are really, the only ones with an active
incentive to go out and try to identify frauds, because they
can make money from it. And that The Regulators really
only come in afterwards, And document.
What the fraud was. Yeah.
And you know, there's whistleblower things with the
SEC and, you know, share slip. We've applied many times for
whistleblower reimbursement, because we found many things and
they're like, well, no, you put it online.
First you got to tell us all these different excuses, right?
And it's just obviously, they don't want to write a check to
me, you know? And so I get that and I'm fine
with it. But yeah, the hypocrisy runs
deep in the SEC. Well, this this transitions us
to, I think, well, Our next topic, which you were famously
invested in iron and Titan which was an algorithmic, stable coin
that collapsed. We recently had another collapse
of a major algorithmic stable coin UST, Tara, Tara Luna
system. I'm wondering how you feel about
the future of algorithmic, stable coins and whether or not
you think they're worth investing in now.
Okay, so there's two. First a question 1, I didn't get
hit nearly as bad as people thought I did on Titan and I
made a lot of the money back being an LP but it was still it
was still however, played out depending on who you talk to
what it taught me was you know marketing matters in crypto and
when you add the word stable to anything particularly stable
coin it's a misnomer when it's applied to algorithmic stable
coins. So I said at that point in time
having been burned and learned that's a New crypto to burned
and learnt. I'm going to I'm going to
trademark that burned and learn but haven't been burned and
learned it. Became you start digging in
more, right? It's just like, when a stock
collapses and you realize why claps, and you try to not repeat
that mistake. It became obvious that, you
know, you can it be? You can Define or create
algorithms that have any different type of output.
But when you call it stable particularly within the crypto,
Then people associate it with it with stability and that's what
have to change. Has to change.
You can call somebody a know something now gorilla make token
and have it be a function of any number of other inputs great
have at it, right? Because there are other tokens
that are some percentage of the lp fees, you know, in some
respects. That's an algorithmic token in
and of itself, right? And so you can have, you can
algorithm Get away, just don't call it stable and for stable
coins it should have a pic where it's auditable definable and
trackable and I'm fine with the concept of stable coins but you
know there's no and it's not that you couldn't have an
algorithmic stable coin, that's pegged to the dollar and invest
in treasuries and you get an additional point zero one
percent of the treasury returns interest rates, right?
And that And of itself, might be algorithmic and maybe or maybe
they invest that, you know, ten percent of the interest rate
they earned and Luna, right? And you get those Luna tokens
and that makes it algorithmic. It's the point that you have to
have it stable. If you're going to use the word
stable, there has to be a definable audible traceable Pig.
And that just is not the case with all the algorithmic coins
that are out there. Now, when you've talked about,
like the appropriate regulations for crypto before, you've
suggested add that you think stable coins are likely to be
the first thing to be regulated because they represent this huge
pool of effectively US Dollars. It's not even, it's not the fact
that they read what they represent, is just a misnomer.
That's it. You know, if you called quarters
dollars, people are going to be misled.
Yeah, I guess. Now that you that, now, that you
say that I'm like, reflecting on how we have money market funds,
and while they might be set to a dollar for each, you know, share
or whatever it's called. Money market fund, it's not
called a u.s. dollar derivative or something like they don't
call it. What it isn't.
There are some funds that have been pegged to the dollar that
broke the dollar and people have been.
I don't know if anybody went to jail or not but it wouldn't
surprise me if somebody did. You know in 2008, a lot of that
happened. There's been other times when it
happened so it's not unique to crypto.
But how you name something in this day and age matters and you
just can't call it stable? That's the whole thing.
You know, you create an algorithmic that algorithmic
coin and call it algo coin, and do whatever you want with it.
You could be, it could be tighten the exact same way.
You could be Terror and Luna relationship the exact same way.
Boom. Then you just, you know, you
plays the game, you takes your chances.
So like in that vein, what I was trying to get at is you
suggested that the acid facts table Queens, the circle, the
tether that whatever they should be auditable, have their assets
in a place where professionals Make sure they're there so that
people know the dollars worth of dollar in the case of something
like an algorithmic stable Queen you're suggesting that basically
those shouldn't be marketed as stable Queens.
Yeah. What is the like how do you
think about the regulatory framework?
That makes it so people can't call Tara.
You passed a law saying that if you suggest that, you are pegged
to something. And you try to reflect on a
day-to-day basis, a particular amount of some other type of Of
assets. You have to be trackable,
traceable, auditable, and so, then just go after like,
criminally or civilly, those who are violating that.
And like you just said, plus the mark, you know, the industry,
the crypto industry is evolving enough and maturing enough that
it would self-regulate, but yeah, you're good.
But only after the feds went after 125, people, whatever it
may be. Well, when you say it would
self-regulate, like how do you decide that just mean like like
short sellers like Cher? Careful.
He's like Jim chanos your you know with social media.
Now there'd be enough of a Groundswell of people who would
call people out that are misleading investors because you
know there is enough self-interest in this industry.
There's always scammers and you know any place where there's
money there scammers. Right.
But there are enough people who want to see it succeed that
they're going to they're going to help educate people.
And I think that's happening more and more as you know, more
people get burned and learn I like that more and more now,
but, but you get my point, right?
When I say self-regulate, I'm not saying don't have any
government intervention or regulation at all but what I'm
saying is, you know, it's like insider trading, there is no
real law and Insider trade but you know companies do training
on what you should not do, you know?
And people generally who trade stocks in any volume, understand
generally what they can't do Merc.
Can you discuss what you think some Would be useful bright
lines that could be passed that would help make crypto safer for
the average investor who's interested in it.
You can't right now other than the stable coin stuff, it's
really really difficult because it's social media, you know,
it's not like it was 20 years ago.
Even where even if you were trading online, you went through
some sort of trading company or broker or Banker that had rules
in place. And so, you know, it's really
difficult because Is anybody can create a token and whether you
want to Define that token as as an equity that needs to be
registered or not, you know, depending on what it does it's
going to be really really tough right now.
But it's no different than, you know, an entrepreneur who comes
on Shark Tank and has sold 100 shares of stock to all their
friends and family. And then I destroy them because
the companies are choke. Ya, any entrepreneur, create any
company that they want and self Shares locally to friends and
family, just like any token, entrepreneur can do the same
thing, okay, do you think something like, you mentioned in
a thread back in September of last year having some kind of
proof of authorship in identity for like specific smart
contracts and tokens where people are aware, if there's
changes to the token and imix or the code or things like that.
And that seemed to overlap pretty meaningfully with the
token, registration proposal, that Sam bank manfried proposed
recently. Where to get listed on these
exchanges, you would need to have a lot of that type of
information. So is that kind of what you
think of as a starting point we have because what I also said,
was it was analogous again to the stock market, right?
Where there's going to be different tiers, and different
confidence levels. And so, if you register, then
you're going to be on the NASDAQ or, you know, that New York,
Stock, Exchange, whatever it may be, and that will give a
different level of confidence. If you choose, not to, and
you're just a private, Up like everybody, and their brother,
creating their own company, then that's your choice as well.
But you're not, you know, if you know my 12 year old son, Jake
creates a company and sell shares of stock.
And somebody, you know, tries to sell those shares to somebody in
New York, right? There's no reason for them to
have confidence in anything that that person trying to remarket
those shares says. But if you know, the equivalent
would be for a token, right? So what's a recent token, And
that came up that's relatively I don't you know pick anyone that
now has you know a multi-billion dollar market cap.
If you want to have some confidence in that that it's
real register it make it auditable.
Have you? No pay ten thousand dollars or
twenty thousand dollars in cash not tokens.
So that there's the third party that works for this exchange
that goes and does an in-depth audit so that there's some level
of confidence aren't there already.
The Auditors at least security like, like security Auditors and
stuff that are looking over these coins and and certifying
them with their, like, security passing Audits.
And I think one is called a like, sir Decay or something
like that, like, another. But the point is, we don't know
which ones are the good ones. And I was going to say that they
often do these Audits and then they say, like, yeah, this thing
is passed, and it's fine. And then the coin, utterly
fails, and so it becomes a matter of like there's New York
Stock Exchange. There's NASDAQ and then there's
everything else, right? Right.
If you, if you pay the listing fee and you pay the amount of
money to get on the NASDAQ, it may not have 100% certainty.
That it's not a scam, but at least when it goes public or
List, there's some level of confidence because of the amount
of money that had to be paid to get that listing.
So, you're seeing likely in the future, kind of a splitting of
the crypto Market. We're the ones who have gone
through this registration process.
We have identified. Teams have gone through these
security audits are going to be listed on the top tier
exchanges, there's going to be other tokens listed on offshore
exchanges and exchanges that are difficult to regulate and then
the remainder right problem, Bella Noche, exchange like that
exists, right? FTX wants to be a by Nancy wants
to be. It coin based could have been it
and they fucked it up, right? So, you know, there's a lot of
ways that it could have happened, but there's no direct
path of least resistance right now.
Somebody, you know, the the top 20 market cap toe.
Token should get together instead of very high standard so
that, you know, they take on, you know, and they all kick in
and buy some insurance, right? So there's no rug pull, you
know, if there's a rug pull, everybody gets reimbursed or
whatever. It's going to add significant
expense. But you know, that's just the
price of Poker, if we want to really get this to Next Level
and like you maybe know G before you end up kind of with like
pancakes swap Eunice swab. The decks is kind of the pink
sheets in the over-the-counter trades and then the more
Regulated where the feds can exert more influence on the
NASDAQ or NASDAQ equivalent, where a duck testicles.
I mean, you know, Sam and CZ and all those guys.
Whatever. You think of them, they should
be creating their known New York Stock Exchange where it's
expensive to get on, it's completely transparent.
You know, you eat your own dog food, everything is on a
blockchain. You know, they hopefully use the
theory and more something that everybody, you know, can since
they're all Theory and based on that, they Are not.
But since, you know, they all can have one central point of
audit and make it expensive, don't make it cheap, make it a
hundred thousand dollars plus a year or a million dollars to
sign up and cash 100,000 plus a year to pay for all the audits
so that there's some level of confidence because the problem
crypto right now. Are, you know, even though, you
know, if ft x has gone down and finances had fraud, you know,
it's like anything else there, you know, you're Platform.
And there's going to be fraud on the platform, and it's going to,
there's going to be, you know, vulnerabilities that are
exposed. It's just that just happens.
Just like, I've bought, you know, I remember back in the
day, there was one company media Vision, where they were.
I got crushed because turns out they were shipping product that
was bricks and boxes. You know, crypto isn't right
unique to scams, it's not it's just that it's so much more in
our face because of social media, In the same vein you're
talking about, you know, regulation coming in separating
cryptocurrencies. I think in crypto currency
exchanges perhaps. But what about the nft space?
Do you think I know you're a big proponent of n of t, s, do you
think that is going to go in a similar Direction?
I mean, we already have. We have so many hacks, we have
so many lost, you know, board, apes or, you know, crypto
Punk's. You name it, right.
Do you see a similar kind of thing?
Happening. Or what, what do you think?
Big deal of people are making Outlook.
Big companies are getting hit by ransomware and getting fucked,
right? And that's just based on
fishing, that's it. Somebody in the accounts,
payable department, clicked on the wrong email link and that
opened up the door for somebody to insert ransomware and that
hot this hospital or that hospital is shit out of luck.
Companies are getting thin invoices that aren't real and
they get paid because somebody in It's payable didn't really
know what they were looking at there.
You know, fishing opens up doors to scams, whether you're in FTS,
whether you're the payable department, whether it's an open
door for ransomware, so that's not unique.
The bigger issue with NF. TS is.
We're going through, you know, Warren Buffett has this great.
Saying first, there's the innovators, then there's the
imitators, and there's the idiots, right?
We're going, we're evolving from the imitator phase where every
block chain or level two, as got to.
Van nft platform, right? And in order to drive volume and
activity, to that platform, they create all these different types
of incentives and bring people in.
And that's created a distortion in the nft world where you've
got basically the same businesses being operated, not
just not theoria, more polygons, but on by dance on, you know,
all of them, right? And, and, you know, at lazy.com
and you can check out my end of teas at lazy.com.
I'm Cuban. You know, we, we present and of
teas on a lot of different platforms but nft suggests
collectibles in the way. We're talking about them right
now and whether you know, there are good investment, it's just
like art. But at this, you know, or
trading cards. The beauty is in the eye of the
beholder with maybe a scarcity Factor attached, but right now,
which really making a confusing and difficult for people who are
just trying to understand. In particular and even people
who have been in a while and have tried to make money is
everything is being replicated. It's being imitated from chain,
to chain, to chain two chain, and you haven't changed
imitating, other change, just to create chains, right?
And we've evolved out of the TPS thing, we've evolved out of the
costing now that aetherium is really quiet it down in terms of
transaction fees and it comes down to okay why am I buying
this nft on this particular chain and The change know and
here's the underpinning of the problem.
The change know that there is not room for 100 different
blockchains. There is not room for 50
different blockchains. There is not room for 20
different horizontal block chains.
Now if you want to look at vertical applications that are
specific to, you know, maybe ICP and others, that have specific
ways of doing things that have applications, that are better
suited for those chains, okay, maybe the total Will grow but
because they know that this is a war for survival.
They're trying to replicate what's being done, where they're
seeing activities in volume and creating incentives.
So, you know, all of them create rooms places to MIT and sell and
Market places for n FTS. And there's just too many and
there's just, no, they're all going to succeed well.
So here's a good follow-up question for that, because
you're talking about how nft is are almost exclusively.
Rusev lie for collectible, kind of, you know what, Nifty Nifty
purposes like that, right? And and I think Ben and I more
or less understand that. I think it's we might not love
it but it's it doesn't seem like something.
That is unreasonable to me. Meanwhile though I've heard you
also say to look for utility in the nft space and so right, I'm
trying to, I'm trying to manage to combine those two concepts
because if it really is okay, really really, right?
Like if there is a Picasso Not that Picasso, you don't you're
not only conveyed Picasso that Picasso.
If you buy it out of one particular gallery and if you
get the almost pricasso from another gallery and then another
type, you know, another piece of art from another Gallery which
with each Gallery representing a different Block Chain, right?
And so it has to be tied to that.
There's a limiting factor in the Collectibles Market.
That all these n FTS are tied to a particular chain and that
creates a lot of confusion Ian and people are trying to bridge
them, which to me is the worst thing possible because it's no
longer non fungible, right? Because if you bridge, yeah, you
lock it into one Bridge hosted on the second bridge.
But if there's any transactions on the second third, fourth
fifth, or sixth bridge, that has been connected to, you lose all
that transaction history or it's just such a pain in the ass to
browse through it. You lose a lot of the value of
that and you still haven't addressed the issue of royalties
for the original Creator, all that aside when it comes to you,
Eddie and FTS are just an application for Collectibles
using smart contracts and in terms of what other utilities
that you can create using smart contracts with NF TS, you know,
with the Mavericks we created and ftes.
That what happens if you came to it?
If you came to a math game, this past season and you were there
before the end of the first quarter and you scanned in with
your Ticketmaster ticket, right? Digital ticket.
Then we set to your ticket master account, where we created
a polygon wallet, we sent you an NF t for that game.
Now that n of T is free with your ticket as long as you show
up, right? So we're rewarding people who go
to the games with the nft by having that nft you now qualify
for a lot of different opportunities with the
Mavericks. And so like somebody who came to
all 41 regular season home games, we just sent them a
special signed jersey that we created, they They were getting
that but that was one way for us to create some utility for it.
They'll be game so Rewards program.
It's a Rewards program, so and that's utility of your Rewards
program, you know. So they'll be able to get, you
know, a preseason games, we don't sell as many tickets for
and we have empty seats. The people that have the most n
FTS because they attended the most games or purchase them from
other people who did, they'll be able to get free tickets or
reduce caustic. So that's, that's one basic
application. We can evolve from there to
actually use the nft He's as the tickets which in turn impacts
the resale, which allows because it's an mft on a smart contract
allows us to earn a royalty or a commission.
Every time it's resold which we can't get right now when a
traditional even digital ticket is resold on outside of
Ticketmaster. So that's it.
I was worried. This is where you were going to
go, but we will do. So just guessing because we were
prepping for this interview yesterday in Cass.
Like made me try to come up with the like best justification for
nft tickets and my answer was like right now Ticketmaster the
other companies, take all the secondary sales and so if you
set it up with a royalty that goes back to the original issue
or they can get all those secondary sales instead of them
going to Ticketmaster. So it was that that's why we
were laughing when you said that and we also were discussing that
that Ticketmaster is essentially monopolistic in its behavior.
And that that is that in and of itself is kind of a a broken
system. And so I think when you got
access, if your you've got AG that owns access which is a
competitor, but I get your point.
But wait, there's more Right? Tickets are with one example.
I think textbooks college, textbooks are going to be
enormous. So imagine why.
So you take a digital? Well, let's look at the way
textbooks are done now, right? Member when you were in college,
you had to buy a book that was ungodly expensive and made no
sense, and then you had to make the decision.
Do you want to buy new or used? You get through the semester?
And you realize, fuck, I wrote in it, I'd have my doodles.
I'm going to try to sell this shit.
So now you got to find either go back to the bookstore on campus
and get 20 cents on the dollar or 50 cents on the dollar and go
and slap around all that shit. And, you know, just say what a
rip-off, right? Nobody ever dealt with textbooks
and didn't say what a ripoff. Now, back to what Bennett said
about the original issue or with tickets, what about the original
author? And publisher of that textbook?
Every time that textbook is resold, you know, how much they
earn Earn. Euro.
So now do this. So take take a 10 ft including
it a reader that you know, how you can export a file from an N
of T. You can unlock something in an
mft. So with your nft, you go and you
go to text books.com. I'm just grabbing that name out
of nowhere and you get your, your, your sociology 101
textbook and it cost you. Dollars instead of 300, does it
matter? If you were the first second,
third 50th, 100, user of that, and the publisher and author,
get their 30 percent or whatever, 50 percent, whatever
it is relative to textbooks.com and you just set with it in that
n of t, a digital reader, that has the text of the textbook and
looks for the nft to make sure you actually own the nft, you
just in extract it. So it's custom the readers.
The only thing that can read that file and checks for the nft
you go through, if you want to print it out, you can find, you
know, waste all the paper. That's kill trees that's up to
you. But if you want, if you want to,
then you get to your class and then you refill it cash.
We sell, is it Bennett? Buys it the fifty percent
royalty goes to the author and the publisher.
We're already looking to try to license Pub textbooks and the
college to be able to do this. So that is a far far, far better
application than the way. Done now.
Well, I have two questions about that.
So one, I assume that most colleges for the by now are
moving, our, I would hope are trying to move away from actual
physical textbooks, maybe I'm wrong, but you're okay.
I would hope that they would be making that movement at some
point when they're forced to. And I want to know what, you
know, if cash transfers the file to Bennett.
Nobody makes any money. Well, can't they sold like,
can't the way Amazon has done Kendall like Ain't they lock
this up? In some sort of way that you
cannot just pass this off. Isn't there a way outside of NF
T's? Plus my second question about
this would be n FTS. Would like you're saying promote
this idea of the author getting the resale value or like getting
some sort of royalty on the resale of this?
But the open market, you were talking about the open market
here and so I assume actually that the prices for these n FTS
would spike every time the semester is starting and then
plummet. Really they're after something
like the fine because you're still getting your royalty
because I talked to a publisher, the lifetime of a book typically
is five years and so they price it knowing that it's going to
last five years in any given college for any given class.
So that's why it's so expensive because it's expensive to print
them. It's expensive to ship them,
it's expensive to deal with them.
It's expensive to, you know, if there's an update to kill the
books that are no longer valid, write all those things have and
have a If expense and in terms of why not just do it without
crypto and just do it with Amazon, they're terrified of
Amazon, they don't see you talk about centralized versus
decentralized, right? They see Amazon as a threat, not
an opportunity. And so by doing it on crypto
where you just have a standard nft, you have a standard reader
that is safe enough to protect the tax or they can create their
own for that matter, they can use your own custom.
It doesn't have to be someone else's.
It's just has to be Tractable so that it can be used with the
text. Now, all of a sudden, you know,
you can buy and sell any numbers and it's cheaper.
It's a whole lot cheaper because you don't have to the revenue
doesn't have to cover five years.
It just has to cover two years, right?
The original sale and because you're getting 50%, maybe three,
but the profit margins on that because there's no physical book
like that are enormous the marginal cost to deliver.
One more book is de minimis. And so there's a thousand
reasons why using n ftes for textbooks in College and after,
you know, are better, and it's the same for a lot of
professional books. You know, you're taking the ls
80s yada, yada yada. So, you know, that's the second
application, where the utility is far greater, when you're in a
decentralized manner and it's more efficient, because if
you're using smart standardized smart contracts, it's going to
be really, really easy to resell without Going to any, you know,
of three, four, five different used book resellers or back to
your college. I got more that was just it, it
makes sense to me. And, and it has a natural
feedback mechanism that kind of drives down the cost of
textbooks in general. Because if they're getting 100%
of the initial sale and say, 50% of all, secondary sales, they're
incentivized to continue to issue more of the tokens more of
the textbook. Cook until the initial sale
price starts to approach the used price so that they're
capturing 100% of that, basically, instead of 50% of the
lesser amount. Yeah.
So you can resell it.
It's easier to resell students or happier.
There's more cycling a money at school, you know?
Because that money that go that sunk into a 300 dollar textbook.
That should be $60. It's 240 dollars.
That could be spent elsewhere or 60 if they bought the youth
textbook for $120. There's just so many Downstream
benefit, you know. Another example is, I invested
in a an application called D climate, and it's part of Dart
D. Arbor.
I forget the exact name you can go and Mark Cuban.com and I got
all this shit listed that I've invested in.
And and so let's just say I want to buy whether insurance for the
Mavericks because in Dallas people won't drive in the slope
the snow. And so let's just say for the
cold months in the Maverick schedule.
I want protection for up to a million dollars for any given A
game where the temperature is under 25 degrees and the
precipitation is over 2 inches. Meaning we have two inches of
snow which for data for us means, you know, 20% or more of
potential game. Attendees are not going to show
up. Now it's a it's almost
impossible to write that efficiently and quickly and you
talked about centralization like any insurance product
centralization, means you've got to, you know, get a salesperson,
get it approved, yada yada. We're working.
So that you set up a Nordic Oracle.
We're here are the different options for, you know, here are
the different dates here, you know, if you put in this, it's
almost like an when you use options on stocks or or crypto,
right? For this expert for this
expiration day. Here's that the money.
What it cost, here's that this premium that premium, this
premium here. This is, this is what you get
paid. When these these different
things happen, right? We different triggers happen.
It's just a, no. Now you go to One platform, you
connect your wallet, you by your insurance or you will be able to
do this and it's simple. You don't want you able to do
that now if you don't mind my asking no you know you can it's
just a pain in the ass and a lot more expensive.
What is what is the what what why why is it more expensive now
to do this? Then it will have to find an
insurer who's willing to do it. And then I've got they've got to
get five people, not fun three people to approve it.
It's not that you can't do it. It's just, you know, crumpled
crypto and a like this. Defy selling you can't borrow
money or you can't just use your credit card.
It's just faster quicker. Simpler.
Sometimes just you know, if you have thousand dollars in US d.c.
to borrow $500 at, you know, variable interest rate.
That's probably going to hover around 2.5 percent and just pay
it back when you need to without getting hit with all the
incremental charges, it's not that you can't do it elsewhere.
It's just it's easier and what so like for the example you gave
their like buying weather and show insurance.
For the Mavericks is the insurance product itself.
Like a D5 product that's using D climate as the source of Truth.
Or is it like a regular insurance company who's using
that as like the source of Truth or Insurance just pull pulling a
capital right? And just risk management at that
point in time. So it's algorithmic if you will
where they're saying here's, you know, based off of, you know,
200 years of weather history. Here's what we think.
And you know the American Airlines Center, the weather is
most likely to be on January 7th, the day of the game.
And here's the the likelihood that you'll have the temperature
will be under 25 degrees and two inches of precipitation.
Very, very slight, you know, but they know how to what's the word
that insurance? You they know how to do the
math, right? You know, they can figure it all
out and assign the The, the risk and charge a premium and just
make that an algorithm that pops up, that makes it easier to buy.
So, I guess, my, my struggle is so like, then for something like
this for your buying, the weather Sharon's weather
Insurance on chain through this protocol as soon as the oracles
post that the weather due to hit whatever conditions were
specified. Then it automatically transfers
the funds that were previously escrowed over again, you can see
the simplification there. Oh shit.
The weather and Dallas is bad this week.
I want to cover myself and Their algorithms are what's fucking
spacing the word that insurance company you use, anyways, but
it's their right. And look, there's there's a
simplification that comes with wallet attached transactions,
you know, we never really discussed the fact that going to
a website, connecting your wallet.
And I'm not saying you take your big investment while people
should have multiple wallets, right?
Just like, you know, you have maybe have different credit
cards with different. It's just to protect yourself
when you give one to your kid, or cousin or friend or whatever.
But the idea of just going to a website, connecting your wallet
and immediately transacting in, it's done and, you know,
preferably on a low gas platform.
There's, there's that simplification in speed of
transaction, there's a lot to be said for that, and I think
that's going to have an impact on e-commerce as well.
Because right now, you know, the big simplification is you go.
And you can use PayPal with your login and maybe you're already
sending your browser or, you know, you or Chrome fills in all
the blanks. And we think that's super easy
and all we do is put in the CVC code.
But damn, you know, if you're not using credit and, you know,
you just connect your wallet, that's faster and easier and
that's one of the things we're looking at different companies
where, you know, my e-commerce is.
Okay, connect your wallet. I don't have to show all the
shit, you know, you know, maybe I want you.
Obviously I get your name and address to ship you whatever,
but if I if it's just a wallet connect pay transact, yes,
approve, sign, you know, sign it through the wallet.
Done, to me, that's a better way to transact isn't the trade-off
though that like, it's, it's more potentially catastrophic
because like when you're paying with a credit card you can part
with money. So if I'm going to shop for, you
know, of a textbook and of tea, right?
I, you know, if you only Have one wallet and that's your bank
and everything. That's catastrophic if you're
going to go by nft textbook it's like how much cash do you carry
with you when you go out if n? If any anymore, right?
You're not going to carry with everything.
You've got your bank account, your if you have half a brain at
all, you're separating and segregating.
So, you know, okay, this is my shopping wallet.
If I'm going shopping and I'm not going to spend more than
$100. I'll just use u.s.
DC and transfer it to my shopping wallet and when I'm
done with it, I Back. But I think, what would the
point that Bennett is trying to make right now is about
reversibility? Maybe I'm wrong.
But I think Bennett is, is touching on the idea that with
your credit card or your bank, you can reverse these
transactions if it goes astray versus can't.
Yeah. Right.
Well and if that's true and if I'm buying something from
Bennett and Bennett, fuck me, well then I've got lots of ways
to respond to that or if it's just a, you know, an honest
mistake, the Ben is probably going to return the funds.
You know, I'm not saying by go this to go on the dark web and
And, and by, you know, whatever it is, you shouldn't be buying,
I'm saying this is, you know, a normal transaction.
So imagine it's Amazon and it's just cheaper if it just comes
out of your polygon wallet and that's it.
Don't you think that this is so much different than the original
intention of like Bitcoin for instance.
Like what you're talking about doing is having these wallets
that essentially I mean to me it sounds like in a lot of ways
could very well Doc's. You like it would be used.
Rewards points, you'd be giving people your address your name,
you'd be logging this wallet in and connecting it to a bunch of
who knows sites. Like, it seems like this is
very, very far from the idea of like private money.
First of all, I don't care about that shit.
I care about that and, you know, there's a lot of things that,
and after Inception, you know, we started started audio net,
which was the very first streaming business.
And in 1994 early 95, we thought that our First Source Of Revenue
was going to be kind of being Muzak for eCommerce sites
because that would help you buy more or you'd have a voice of
God, talking about the product. Nobody wanted to pay us to do
that, but they wanted to hear the Cubs games.
And they wanted to hear this or that and the office because we
were the only place that you can listen to anything, you know,
because you probably didn't have a radio or TV and your desk and
so what you initially think is going to happen in any business.
I'm sure when you guys started cryptos crypto critics Corner, a
lot of things went in a lot of different directions than What
you initially expected? That's just the nature of
business. And that's being an entrepreneur
and that's being opportunistic, that's being Innovative.
You take things in a different direction Than People expected
them to. Y'all the Bitcoin Max you shit
scared. It's like, you know, hey, you're
an inflation hedge, not United States.
You're not, maybe in Venezuela integrate inflation hedge, but
not in a result Nation with the reserve currency, its you just
not. Yeah, that's that's one of those
narratives for Bitcoin, that's been around for years and every
so often, I checked the data to see if it's gotten any better
like when you overlay inflation against bitcoin price.
And so It hasn't so far. It is not an inflation, but in,
in high in, you know, countries where there's super inflation.
Right? It is ahead and so is the US
dollar and so is any, you know, remotely stable asset but dulled
think about this goes been saying this a hedge to inflation
for a millennia and it's still not and you know, commercial
selling that, that's what they think it is and it's not, you
know, It goes back to stable, Point versus not having the word
stable. There's things that just if
people repeated enough they think it's true.
You know, that's that's why companies by marketing, you
know? Because they hope that if you
save enough, everybody's going to believe it.
Yeah, we have, we have one last question.
I released, I have one last question for you.
You know, crypto critics we're doing our best Mark, we're doing
our best. Well, this, this question
actually doesn't necessarily relate to, although I think it
does in some sense because Venture Capital has really
started to dive deep into cryptocurrencies.
I think, as of late, and we, recently heard about block, Phi,
I think they there they got devalue, right?
It went from a 3 billion dollar valuation to a 1 billion dollar
valuation 52. I'm wondering if we're what was
it? Five to one, they were raising
it 50 few months ago. Thank you. 12:55.
Do you think there's a distortion right now in private
markets via venture capital or do you think it's just simply as
murky and messed up as any other?
Well, first of all, the question should be, is there ever a time
when VC's? Don't distort, Capital markets
and the answer is no, and the more money VCS have and the more
money that's out there, then the more Distortion happens.
I mean, look on Shark Tank. The companies I invested I just
have to bang on them. You know, you go for
profitability. You don't go for your next race.
You know. You've got to be profitable to
survive. You can't just, you know, have
one company. I'm trying to bang on them right
now. No, you can't just buy sales by
and sales will die at some point.
It's like there's a company that came on Shark Tank ring and they
were like, don't you feel bad that you did invest in ring and
Shark Tank at a 7 million dollar valuation when they sold for a
billion? I'm like no no I don't feel bad
at all. As they had to raise hundreds of
millions of dollars to do tens of millions in revenue and I
would have been diluted till you know the next you know,
Evolution started all over again.
It was there was just no chance and so it's the same.
Now when you know, QE basically is Ubi for rich people, you
know? And when Cuba QE is happening
quantitative, easing e easing where appreciable asset
Skyrocket and particularly you know, it's been over an extended
period. Period of time that money's got
to go somewhere and people tend to take on more risk and be
willing to try more things. So they give their money to VCS
and VC's, go have to go big or go home, because if you don't
over perform, I'll perform that money is going to come right out
and you're going to be embarrassed, you know, and now
we've seen what's happened with Arc and we've seen what's
happened with tiger, where they've just gotten destroyed,
but you never see, Warren Buffett gets asteroid like His
portfolio may go down because he just looks at it completely
different way and I tend to look at it more that way and like
right now in terms of my investment philosophy you know I
don't want it all to go rushing back up.
I know a lot of people do and I feel I feel horrible.
People hate me for saying that and it's the same thing with
stocks because stocks have collapsed more than crypto has
particularly the primary crypto. You know?
There's, you know, Netflix and Amazon and you name it.
I've gotten destroyed You know, some enormous percentage of the
NASDAQ to tech stocks than NASDAQ are down 50 60, 70, 80
percent. And so, you know, I'm of the
Warren Buffett school where you wait for blood in the street and
you know, I sold a bunch of stuff and how you know, did try
to catch a falling knife and you know if I think it goes down to
a below a certain point where it's crazy not to buy like I did
in 2008 like I did you know other times I'll buy you know to
20 March 20 when everything was crater and I was buying.
And so that's the way I look at it but I do want to fuck with
Bitcoin, don't come on, come on, come on.
I mean we've said all these things about Bitcoin before on
the show that it's not actually an inflation hedge that the
volatility has not gone down over time that it has not gotten
cheaper to use that. It's still very challenging for
like a basic user to get set up with a wallet and stuff for
Bitcoin and like that bitcoiners are not Particularly passionate
about making the experience easy.
They kind of like what about its challenges but what about
lightning and strike? You know, you know I look I
don't I'm actually more positive on bitcoin than probably most
people, you know, there's a lot of arguments to be made about
how it's not, you know, decentralized and this and that.
But you know I think it's a better store of value than gold
and when people just not saying much Type people at the money
somewhere. Sure.
And if you look across the spectrum of assets and whether
you have a hundred dollars to invest or 100 million to invest,
you know, when you look across the Spectrum, it's difficult for
people just to put the money in the bank and there's risk is
other than treasuries, which are paying, what 2.9%, where you
lock up your money for 10 years, right?
You know, that's not really attractive either.
So people are going to make choices of where to put their
money and the question becomes what?
And when and right now, I don't think it's when, but I do think
Bitcoin is usurping gold as a destination as a store value
because go, you know, people talk about, well there's no
utility on bitcoin and, you know, I'm can argue a whole lot
of that. There's a little bit of utility,
not great, but if you look at gold it's not like people need
jewelry, right? It's not like that, the need,
right? That's that's just vanity.
And so, you know, there's their equivalent of my mind so I think
Bitcoin from a pricing perspective, I think we'll hold
a lot better than people expect. Here's a question.
If we want to try to go a little bit more in the cryptocurrency
direction, I have a question for you, because I think Bennett and
I talked a lot about the scams in the frauds and the big big
overarching problems that we see with the industry.
So, stable coins, things that present systemic risk in our
eyes and I'm wondering if you think about those kind of Black
Swan events regularly. If this is something you you
think about is like when you're trying to consider risk you know
your risk assessment in the space, right?
So when you look at Bitcoin is just the things.
I've said it's store value and I think it's better than gold
because it's more transferable easier because look, it's not
like people actually hold bars of gold.
Go. You know, the buying and selling
of gold is All Digital transactions and so and it's all
fractionalized in virtualized. So, they're six, and one-half
dozen the other And so I think there's always going to be a
market for simple store values other than cash because people
are willing to other your homes even because people want to take
on some risk to try to get some appreciation because that's the
only way you're going to get wealthy.
If you're just, you know, if you're working every single day
and trying to save money for retirement, it's harder to point
nine percent for 10 years. And so, you're going to does
that therefore, is that your assessment?
That's your risk. Assessment is like, well, I
care. I care more about the idea of
like Elation, trying to find a place to put my money in the
meantime, as opposed to like, well, if tether blows up and
USD, see blows up and the all the algorithmic stable coins
blow up and the whole Market goes down, 75%, you like your
that's not a top concern for you.
Well, you know, first, if you SDC is transparent like they
say, they are now if there's fraud like what Tara that was
meant to blow up today of started, I got, you know, the
only thing I'm mad about with Terrors that.
I didn't short it, you know, I got it, the opportunity to
invest in anchor and I said, no, because you can't keep on paying
20% with no source of income. But at the same time, if you
think about it, think about what I just said about ring and how
people were investing, hundreds of millions to do tens of
millions in Revenue. It's the exact same thing,
either. You subsidize sales of a
product, which we've seen with VCS and Silicon Valley time and
time again, right? We're raising All this money
dadadada da where you know, we'll make it up in volume.
That's just what's happened with crypto people put up money and
they subsidize it with rewards and they're buying the rewards
back from their customers, hoping, they create enough
transactions, right? And they make it up somewhere,
anchor wanted to do with through loans and they couldn't do it,
right? So that was ripe for failure.
U.s. DC is not trying to do those
things that I can see. I mean, are you guys seeing
anything untoward about USD? See, I'm wondering why they want
to go public. Wondering why circle is so
desperate to go public. I'm wondering to make sense from
from their perspective, you'll get a multiple of whatever
earnings you have based off the scale from the public market
that you don't get from crypto. But then the fear becomes
something. I think, I guess this was part
of the question about the Venture Capital as well.
I think the public perception and feel free to correct this
perception please. But I think the public
perception is you do around a you do around be you, do around
CDE, whatever and then you go public and you dump on retail
and and that I don't know if there's truth to that or not but
ultimately, you look at something like coinbase and you
go. Oh, wow.
So that went up to like 400 and it's trading at $69 right now.
Like it seems pretty and they did a direct to direct listing
as well where they got. They, they had to dump their
shares. So I think that that's the
concept. I'm kind of referring to is that
it feels like everybody's but that's the way the whole public
market works, right? Unless you're the entrepreneur
that created the company and just took it public.
So that It's not just retail investors.
There aren't enough retail. Investors who are buying to sub
to support the entire Public Market there just aren't right?
And when they go away, Marcus Decline and you can see that
reflected in Robin Hood, right, where you see the volume just
dry up at Robin Hood, and the challenges that they've had, but
at the same time, I don't necessarily think that's a
reflection for U STC or any crypto company going public
because you, you know, assuming the SEC can Somewhat do their
job, you've got to file all your reports, and you've got to be,
you know, have some level of transparency and you've got to
be able to demonstrate that what, you know, if you SDC goes
public and they're not doing what they're saying, they're
doing, they're going to jail, right?
So u.s. DC going public is a positive
for the crypto industry and I think it returns to their
investors. You're right there.
But it also allows them to earn a multiple of their earnings,
which you can't do. As a private company and
liquidity that comes That. So if they want to go out and
buy tether and then all of a sudden bring it in in there
under their umbrella where you know, that's another however
much is left until they're sixty two billion dollars and they
want to say, okay, we're going to take you, we're going to
change it so you know it's it's dollar-for-dollar in treasuries
and USD real US Dollars. Okay, there's something to be
said for that too. But yeah, I don't look at going
public as being a problem that or it's a reflection of the fact
that they're dumping On individual investors because
they're just, you know, companies have trillion dollar
market caps. Now, there's just not enough
buyers to retail buyers to support that.
But you let me, let me just finish answer your question.
So when I looked at so Bitcoin, I look at the store value and
the Maxis for the most part, we'll just hold on because their
cost, you know, they probably already sold what they need to
sell. And they don't want to pay taxes
on anymore. And so, you know, they're
probably going to hold on. The data from wallets supports
that, right? The longer people hold the
longer, they hold right. They do hot and etherium, you
know, the concern there and I own a lot of ethereum is more on
the utility, right? So what drives me in and out and
I'm waiting more on the sidelines, I've sold a bunch of
my theory. Mmm, fortunately is looking to
see the applications that drive transaction usage, you know,
because it was defying was in ftes and that was driving a ton
of transactions. And now that Defy is no longer
being subsidized, you're seeing, you know, 2% 3% and where you're
seeing 10 15, 20 %, or more a PR, it's or yield rather.
It's because somebody subsidizing in their coin,
right? And they're doing it to orders
down where instead of just writing you a check or sending
you money, they're just saying, okay, we're going to give you
our token, we want you to hold it and we'll create some
inflation and We're hoping that there's somebody there to buy it
at some point in time. That's just that's a recipe for
failure, you know. So when I see some of these
chains that are just offering tokens, they better have raised
a whole lot of money. Otherwise, you're going to fail,
but on the flip side, you've got an F, TS on a theory.
Mm, and you've got other defy and you've got other
applications that are working that can generate transactions.
So then it just becomes what new applications will generate
transactions. And that's what I look for D Phi
and then of teas are no longer enough for it to for it to just
say, Okay this makes it a no-brainer.
We have to see the following transactions and that's why I've
said we're in a lull period. Just like we were on the
internet where after e-commerce and search engines and some
basic stuff, it took some time for and some technology
advancements for the internet. Really just start getting some
really Advanced applications where people said okay I have to
use it you know and then mobile took it to a next level.
Eccentric cetera and that's what we need in crypto.
You need those applications. My last question I think is a
few months ago when you were talking at the at Wharton's
blockchain accelerator you mentioned that you were
recommending that your portfolio companies.
Take a portion of the cash, they raised put it into u.s.
DC and lend it out to start. Earning the yield is that still
a recommendation you would make or has the rising risk-free rate
and collapsing, defy yields made that less appealing, way and
Regulatory. Concerns.
Yeah, the regulatory concerns. No.
But the the the Fallen defy rates, yes.
But you know, there are still places where, you know, you know
how with stocks. You can loan them out and you
get paid a vague for a stock loan, right?
So if I own 100 shares of something, I can go to my broker
and they have a stock loan department and the people who
want to short it will borrow it and you have to pay in order to
borrow it. Right?
Well the same thing happens in crypto the exact same thing with
tokens you know. So if I own it And somebody and
I don't and somebody in won't, but if somebody wants to buy it
with the short it, you know, they're going to have to pay to
borrow it from somebody who owns it.
And so the same thing happens with USD.
See the same thing happens with tether and so I think u.s.
DC in particular is stable. So we're you know, for myself
personally even and companies, it's like okay if you guys can
integrate do this easily in your cash management, put some of it
in crypto automatically Lee loan it out.
And, you know, if it's on Ave, it may only be 2 percent.
But if it's through a sec CES centralized exchange, you might
be able to get six, seven, eight percent, and at that point in
time. It's worth it.
And I've said this, and I'm trying to find somebody to do it
the right way. Integrating QuickBooks into, you
know, a cash management system. That simplifies all that.
So that, you know, you sell your USD, see when you need to pay
your Roll and you buy it when the revenues come in or your
receivables come in and you're making that, you know, four,
five, six, eight percent that can be real money depending on
the size of the company, but it's also found money that
you're not making right now and to me there's utility there as
well. Make sense will cast.
You got any other questions? No I unfortunately I don't so
yeah. No no checkmating you mark
sorry. Where's the crew?
We tried, I don't know, I think, I mean I think we're trying, you
know, it's better for us to ask these questions and hear honest
answers from whoever we're speaking to and let the audience
decide how they feel about it. I think is kind of, kind of what
we wanted. All right.
Yeah, I mean, we'll look at the social media and half the people
think I'm a moron and half, the people think most of being a
moron and maybe part of what I said, was no, I mean, I think
you gave some really sound arguments Nelly.
So yeah, we appreciate you coming on so much though.
Mark, thank you for, thank you for joining us.
Really. Hey, I love cynic man.
I love people who question everything.
The only way people get better and industries and businesses
get better is by questioning Authority, right?
You have to, you have to, you have to let me put in one quick
plug. I'll reply glaze e.com.
If you want to, you want to highlight your your n FTS use
lazy.com, but I dated a company called cost-plus drugs.com and
what Cost Plus drugs does is completely disrupt the whole
drug industry. So if you have any prescriptions
at all for any medications, go to Cost, Plus drugs.com, if we
have it, all of our medications are priced at our Cost Plus, 15%
plus three dollar handling fee +5 dollars shipping period, end
of story and we're probably less expensive than your insurance
copay and if you don't have insurance for definitely less
Anything you're spending, you know, we're approaching a
million customers and we've only launched in January.
So go to Cost Plus drugs.com, look up your prescriptions and
even if we don't have them sign up for an account because you'll
put in the prescriptions that you take medications you take.
And when we add them, we're always adding new drugs will
alert you on it. So thanks for letting me do my
little pitch for go to cos plus drug.
And again, thank you so much for joining us today.
That was, it was a great conversation.
I enjoyed it, too. Thanks.
Hmm. Hey, since Mark, Cuban was
allowed to do his pitch. Apparently BT has informed me
that my role has shifted from CFO co-founder and co-host to
now being Chief add reader. It seems like a downgrade fine
with it. I guess I'll read the copy here,
as Chief add reader. I'd like to say that we have
won. Trillion subscribers on YouTube.
Okay Bennett is a data scientist so I apologize.
There's obviously not a trillion people in the world or that many
people on YouTube. Obviously continue.
And we have fifteen trillion subscribers, across various
podcasting platforms. Whatever, if you hit the like or
subscribe button and leave a review, we promised to buy casts
a dog house to sleep in. Okay, cool.
Cool. Well hit like subscribe,
YouTube. I don't know this.