1 00:00:00,120 --> 00:00:07,000 Good morning, good morning everyone GMEN and welcome to 2 00:00:07,440 --> 00:00:14,840 another episode of homo. Our day today is Friday 8 second 3 00:00:14,960 --> 00:00:22,560 45 whoops today is off to a fast start Bitcoin at 97 K stocks are 4 00:00:22,560 --> 00:00:27,440 booming potentially about to hit a 20 year streak and the 5 00:00:27,440 --> 00:00:31,920 question is can this keep going or are we a major bull trap 6 00:00:31,920 --> 00:00:34,360 we're going to break it down on today's show I'm getting a bit 7 00:00:34,400 --> 00:00:36,760 of of feedback so maybe is it is it your phone I'm. 8 00:00:38,520 --> 00:00:40,440 Trying to mute it, turn on what's. 9 00:00:40,440 --> 00:00:43,080 Working all the way down. I did. 10 00:00:43,080 --> 00:00:44,240 It won't let me. There we go. 11 00:00:45,720 --> 00:00:47,280 Oh, so I'm a speaker. It won't let me. 12 00:00:48,040 --> 00:00:49,240 I'll just Chuck it to the side. Yeah. 13 00:00:49,680 --> 00:00:52,560 Just maybe put it to the side. But how's that? 14 00:00:53,320 --> 00:00:55,520 That that's better. Thank you very much, folks. 15 00:00:55,720 --> 00:00:57,120 We, we gave it away. Our special guest. 16 00:00:57,120 --> 00:00:59,040 It's Friday. We've got Sergito's joining us. 17 00:00:59,320 --> 00:01:02,000 Serge, how you doing? Good man, thank you for having 18 00:01:02,000 --> 00:01:03,440 me. Always a pleasure to come on 19 00:01:03,440 --> 00:01:06,120 rock radio and obviously personal friends of all the 20 00:01:06,120 --> 00:01:08,160 whole team. So just happy to chat with some 21 00:01:08,200 --> 00:01:10,320 with some homies. Yeah, we're excited to have you 22 00:01:10,320 --> 00:01:12,000 on. I think Mando is going to be 23 00:01:12,000 --> 00:01:16,080 joining us in just a couple minutes here, folks. 24 00:01:16,080 --> 00:01:18,240 We've got Logan on with us last day in Peru. 25 00:01:20,280 --> 00:01:24,240 OK, GM, Hey, good morning. I'm feeling a little bittersweet 26 00:01:24,240 --> 00:01:27,080 here. Final day here in Peru, leave 27 00:01:27,080 --> 00:01:30,360 tomorrow night. So great trip, great time. 28 00:01:30,360 --> 00:01:33,840 Highly recommended for folks who have not yet ventured down here 29 00:01:34,440 --> 00:01:37,280 or maybe East, West, wherever you need to come from to get 30 00:01:37,280 --> 00:01:39,520 here. But excited to talk about it, 31 00:01:40,240 --> 00:01:42,880 the show, the markets, whatever. I'm excited. 32 00:01:43,160 --> 00:01:44,960 We're going to miss your yellow background that. 33 00:01:45,080 --> 00:01:49,640 Is I know, I know this Airbnb treated me really well. 34 00:01:49,640 --> 00:01:53,000 Cold showers but otherwise treated me really well. 35 00:01:53,320 --> 00:01:55,760 Are you in Neymar? What was that? 36 00:01:55,760 --> 00:01:56,760 I'm sorry. Are you in Neymar? 37 00:01:57,480 --> 00:02:01,080 No, I'm in Trujillo, OK. Nice, Yeah, Nice, nice, nice, 38 00:02:01,080 --> 00:02:02,640 Regina. Where are you talking to us live 39 00:02:02,640 --> 00:02:04,400 from this morning? I'm in New York. 40 00:02:04,760 --> 00:02:06,720 I'm in New York. But I used to go to Peru once a 41 00:02:06,720 --> 00:02:10,240 month for four or five years when I started my career in the 42 00:02:10,800 --> 00:02:12,280 the markets, I used to cover Peru. 43 00:02:12,280 --> 00:02:14,000 So very special place in my heart. 44 00:02:14,000 --> 00:02:15,520 Oh. Very nice. 45 00:02:16,320 --> 00:02:18,080 Well, Logan, we're happy that you're coming back, but happy 46 00:02:18,080 --> 00:02:20,000 had a good time as well. Folks, what are we talking about 47 00:02:20,400 --> 00:02:22,200 on today's show? We're going to start with the 48 00:02:22,200 --> 00:02:24,160 market report. Looks like we've got some good 49 00:02:24,160 --> 00:02:28,120 jobs numbers. China coming to the table on 50 00:02:28,120 --> 00:02:32,240 trade talks, stocks on potentially the biggest rally 51 00:02:32,240 --> 00:02:37,840 since 2004, which is a bit confusing given everyone doom 52 00:02:37,840 --> 00:02:41,160 posting for for weeks now. So we got to talk about that. 53 00:02:41,440 --> 00:02:43,680 We're going to talk about crypto outlook here. 54 00:02:44,280 --> 00:02:47,440 Mr. Sergito's perspective. We got Michael Saylor announcing 55 00:02:47,440 --> 00:02:51,480 another $21 billion in equity offerings to buy more Bitcoin. 56 00:02:51,760 --> 00:02:54,560 Tether reported earnings billion dollars, very good, but down 57 00:02:54,560 --> 00:02:57,840 about 75% year over year. North Carolina's close to 58 00:02:57,840 --> 00:03:00,960 passing their own strategic Bitcoin reserve, Playtron in the 59 00:03:00,960 --> 00:03:02,720 suite system. They're they're launching a new 60 00:03:02,760 --> 00:03:05,120 gaming stablecoin. That was an interesting one. 61 00:03:05,120 --> 00:03:08,560 We've got Visa and MasterCard both working on projects to give 62 00:03:08,720 --> 00:03:10,560 AI agents access to credit cards. 63 00:03:11,200 --> 00:03:12,720 That feels kind of big. We're going to break down the 64 00:03:12,720 --> 00:03:16,400 boop dot fun launch that was all over the timeline yesterday. 65 00:03:16,400 --> 00:03:18,920 And then the the last part of the show, we will talk to 66 00:03:18,920 --> 00:03:23,640 Sergita about Mebits. The NFT come back in a lot more 67 00:03:23,640 --> 00:03:26,960 plus double yeet spins today. So you're going to want to stick 68 00:03:26,960 --> 00:03:29,440 around for the end of the show for that. 69 00:03:29,440 --> 00:03:31,680 Before we dive in, quick shout out to our partner Wallet 70 00:03:31,680 --> 00:03:33,040 Connect. Wallet Connect is the 71 00:03:33,040 --> 00:03:35,840 connectivity network shaping the future of on chain UX. 72 00:03:36,080 --> 00:03:38,760 If you've connected to a Web 3 app, you've seen Wallet Connect. 73 00:03:38,760 --> 00:03:42,480 That blue logo, it's everywhere and I kind of trust in crypto as 74 00:03:42,480 --> 00:03:44,320 recognizable as Visa at the checkout. 75 00:03:44,520 --> 00:03:47,800 If you want to learn more, all at Wallet Connect on X and 76 00:03:47,800 --> 00:03:49,640 Telegram. Just stay ahead of what's next. 77 00:03:49,840 --> 00:03:52,640 All right, we love our partners as always, Sims, you want to 78 00:03:52,640 --> 00:03:55,000 give me my intro music? I'll do a bit of a market 79 00:03:55,000 --> 00:04:09,600 report. Yeah, it's an interesting one 80 00:04:09,600 --> 00:04:11,120 out there this morning here, folks. 81 00:04:11,360 --> 00:04:16,360 I feel that crypto's been kind of quietly grinding up slash 82 00:04:16,360 --> 00:04:19,160 somewhat chopping it feels like these past few days. 83 00:04:19,160 --> 00:04:24,480 So Bitcoin 96,900 up, up about a percent, up just 2% on the week, 84 00:04:24,480 --> 00:04:27,280 though it feels a little bit more than that, I guess. 85 00:04:27,280 --> 00:04:29,520 I guess I don't recall staying at 95 K last Friday. 86 00:04:30,440 --> 00:04:35,520 ETH up 3% on the week, only up. It's basically even on the day. 87 00:04:35,520 --> 00:04:41,520 Slama slightly in red on the day, a few alt movers, nothing 88 00:04:41,520 --> 00:04:45,480 really crazy. EOSIMX Kaya Virtual is kind of 89 00:04:45,480 --> 00:04:49,840 leading the charge up 6 to 9%. Nothing crazy. 90 00:04:50,000 --> 00:04:54,280 I think from a macro perspective, a few things going 91 00:04:54,280 --> 00:04:55,880 on. Bloomberg tweeting here this 92 00:04:55,880 --> 00:04:57,960 morning. Looks like the jobs report came 93 00:04:57,960 --> 00:05:01,920 in. Payrolls beat expectations 94 00:05:02,360 --> 00:05:06,000 decently. Unemployment stayed the same. 95 00:05:06,480 --> 00:05:10,720 We had Trump continuing to call for rate cuts, saying that 96 00:05:10,720 --> 00:05:15,920 inflation is very low and that the Fed needs to act, cut those 97 00:05:15,920 --> 00:05:18,440 rates. Some news out in NVIDIA. 98 00:05:18,440 --> 00:05:20,600 They're tweaking some AI chips to be sold to China. 99 00:05:20,600 --> 00:05:23,600 It does seem like China coming to the table. 100 00:05:23,600 --> 00:05:27,040 Trade talks have reported, I think China said this last night 101 00:05:27,040 --> 00:05:29,640 that the US had reached out for for trade deals. 102 00:05:30,320 --> 00:05:33,120 You can position that as the US giving in, but I think end of 103 00:05:33,120 --> 00:05:36,280 the day, most people are just happy to see some progress on 104 00:05:36,280 --> 00:05:41,000 that front. Markets do seem to have like 105 00:05:41,000 --> 00:05:43,480 that. So we've got stocks up about a 106 00:05:43,480 --> 00:05:49,840 percent here today, Dow jumping up 400, and then again on pace 107 00:05:49,840 --> 00:05:51,920 for the longest winning streak in 20 years. 108 00:05:52,680 --> 00:05:54,720 Which is made more interesting because Trump just came out and 109 00:05:54,720 --> 00:05:59,000 said when the recession numbers came out or the the Q1 GDP came 110 00:05:59,000 --> 00:06:00,880 out, that this wasn't his market, it was Biden's market. 111 00:06:01,800 --> 00:06:04,760 So Biden's going to have to get credit for this 20 day rally, 112 00:06:04,760 --> 00:06:09,200 this 20 year rally. I guess the 10 year is up today. 113 00:06:09,200 --> 00:06:11,640 Wow, I didn't see that. So it's back to 4.3. 114 00:06:12,440 --> 00:06:16,760 So it's going the wrong way. I did see the odds of rate cuts 115 00:06:17,440 --> 00:06:20,840 have fallen a bit. I saw that we had this up, 116 00:06:20,840 --> 00:06:22,360 pulled up just a couple days ago on the show. 117 00:06:22,920 --> 00:06:28,320 I think the odds of four cuts in 2025 Rep up to about 41% on the 118 00:06:28,320 --> 00:06:33,320 CME, on the CME board, back down to 35% here. 119 00:06:33,320 --> 00:06:38,640 So just about about 50% chance of four to five cuts here, 35% 120 00:06:38,640 --> 00:06:42,360 chance of three for the rest of this year. 121 00:06:43,120 --> 00:06:47,320 Back on the crypto board, ETFs were strong again yesterday, 420 122 00:06:47,320 --> 00:06:52,320 million in net inflows, I bet has just been leading the charge 123 00:06:52,320 --> 00:06:55,520 consistently, just massive green numbers every day. 124 00:06:55,520 --> 00:07:01,200 So capital is flowing in through the the I bit Bitcoin ETF, 125 00:07:01,480 --> 00:07:03,880 Ethereum even catch them to bed. Nice little week. 126 00:07:04,320 --> 00:07:09,080 Those ETTFS nicely green here this week as well. 127 00:07:09,320 --> 00:07:12,240 That's a quick summary. We'll go into some of the more 128 00:07:12,240 --> 00:07:14,440 specific headlines here in a little bit. 129 00:07:14,440 --> 00:07:16,280 But Sergio, I'll, I'll tell it to you. 130 00:07:16,360 --> 00:07:21,720 I'm kind of I want to just chat casual Friday chat like macro 131 00:07:22,120 --> 00:07:24,360 and and market outlook. And I'll, I'll maybe preface 132 00:07:24,360 --> 00:07:27,360 this by saying I, I've been trying to absorb a lot of 133 00:07:27,360 --> 00:07:28,840 information. I don't, I, I don't have a 134 00:07:28,840 --> 00:07:31,800 background in macro equities trading or market trading 135 00:07:31,800 --> 00:07:34,840 really. So I, I like to absorb what a 136 00:07:34,840 --> 00:07:36,400 lot of smart people around me are saying. 137 00:07:36,800 --> 00:07:40,080 And I feel like a lot of smart people for the last month, or at 138 00:07:40,080 --> 00:07:42,880 least since Liberation Day, had talked about how this would be a 139 00:07:42,880 --> 00:07:45,360 disaster for markets. A lot of smart people saying 140 00:07:45,360 --> 00:07:50,000 their base case was recession with chances of stagflation and 141 00:07:50,000 --> 00:07:54,200 depression on the table, which is hard for me to reconcile now 142 00:07:54,200 --> 00:07:56,520 that we're, that we're seeing this this massive rally in 143 00:07:56,520 --> 00:07:58,000 stock. So I'm, I'm curious, just from 144 00:07:58,000 --> 00:08:01,000 your perspective on what is happening, like is this a bull 145 00:08:01,000 --> 00:08:02,680 trap? Should we be more worried? 146 00:08:03,000 --> 00:08:05,240 Like why are stocks outperforming in such uncertain 147 00:08:05,240 --> 00:08:07,360 times? Yeah. 148 00:08:07,360 --> 00:08:10,160 I mean, I think it's easy to just forget that the market's 149 00:08:10,160 --> 00:08:12,560 not the economy. Obviously something for the 150 00:08:12,560 --> 00:08:14,840 narrative is like the market's doing well, the economy will be 151 00:08:14,840 --> 00:08:19,720 doing really well, markets trade our expectations as we all know. 152 00:08:19,880 --> 00:08:22,640 And what's happened over the last couple weeks is, you know, 153 00:08:22,800 --> 00:08:26,800 while there's still some commentary out there from, from 154 00:08:26,800 --> 00:08:29,000 the administration that are going to stay strong and, you 155 00:08:29,000 --> 00:08:32,080 know, China and all that stuff, the reality is we've seen them 156 00:08:32,080 --> 00:08:34,760 move closer back to where things were. 157 00:08:34,760 --> 00:08:38,559 And so if you were around the markets back in the first Trump 158 00:08:38,559 --> 00:08:41,799 administration, the whole trade deal thing, we already had it 159 00:08:41,799 --> 00:08:43,400 happening. You know, they had a trade deal 160 00:08:43,400 --> 00:08:46,040 with China back then. It was called phase one trade 161 00:08:46,040 --> 00:08:47,920 one deal. It's purely cosmetic. 162 00:08:48,480 --> 00:08:51,600 Same thing with the NAFTA renegotiation that he like 163 00:08:51,600 --> 00:08:57,120 turned USMCA. So I think once you know, the 164 00:08:57,120 --> 00:08:59,440 market pricing, the fact that OK, yeah, this might be 165 00:08:59,440 --> 00:09:03,960 different, like the tariffs are 145% with China, with everybody 166 00:09:03,960 --> 00:09:06,600 else, like if they had not changed course, we will be much 167 00:09:06,600 --> 00:09:08,320 lower. But the fact that they 168 00:09:08,320 --> 00:09:11,280 immediately started changing their tune and coming back more 169 00:09:11,280 --> 00:09:14,480 towards kind of like the table where, you know, putting out 170 00:09:14,480 --> 00:09:16,880 those fake headlines that we're talking to China and China's 171 00:09:16,880 --> 00:09:18,560 like, no, we're not. No, we're not. 172 00:09:18,560 --> 00:09:22,120 I think that puts unfortunately, I mean, we're cheering for the 173 00:09:22,280 --> 00:09:26,000 US here, don't get me wrong. But if you look at it from a non 174 00:09:26,000 --> 00:09:29,120 political perspective and just from a pure macro perspective, 175 00:09:29,120 --> 00:09:32,400 the reality is that the US is against the wall of China. 176 00:09:32,880 --> 00:09:36,000 And so they're either going to have to, you know, agree to some 177 00:09:36,000 --> 00:09:38,880 sort of deal, which is removes a lot of the uncertainty. 178 00:09:39,120 --> 00:09:41,920 And that's why we're like so much higher from what we were a 179 00:09:41,920 --> 00:09:46,360 month ago. But also, you know, the Fed is 180 00:09:46,520 --> 00:09:48,760 there, right? The fact that the Fed didn't do 181 00:09:48,760 --> 00:09:51,920 anything when we were down 20% / 2 weeks. 182 00:09:52,440 --> 00:09:56,240 I think it's just a good way to save those bullets from when 183 00:09:56,240 --> 00:09:58,920 they're necessary. And, and you'll start seeing 184 00:09:58,920 --> 00:10:02,320 encrypted Twitter this week, a lot of talk about like shipping 185 00:10:02,320 --> 00:10:06,640 lanes and the ports being empty, how the tariffs just started to 186 00:10:06,640 --> 00:10:10,280 hit the real economy this week. And, and I think what's going to 187 00:10:10,280 --> 00:10:12,840 be important now that we had a, a rebound with the change of 188 00:10:12,840 --> 00:10:16,080 expectations is OK, So what happens next? 189 00:10:16,080 --> 00:10:19,280 Obviously first quarter GDP is backward looking. 190 00:10:19,800 --> 00:10:21,960 Today's employment number is backward looking. 191 00:10:21,960 --> 00:10:24,600 And I think a lot of people miss the point that it's a, it's just 192 00:10:24,600 --> 00:10:29,840 a mathematical model that usually gets revised as we go 193 00:10:29,840 --> 00:10:31,160 through time. If you look at, you know, 194 00:10:31,160 --> 00:10:34,280 employment numbers for the last eight years, every single month, 195 00:10:34,560 --> 00:10:36,000 there's been a significant revision. 196 00:10:36,160 --> 00:10:39,080 When you look back now when the market is very, very quiet, 197 00:10:39,080 --> 00:10:42,960 people are just super focused on employment and thus becomes kind 198 00:10:42,960 --> 00:10:45,960 of like, you know, it's like the mean coins or like, oh, you 199 00:10:45,960 --> 00:10:49,280 know, Elon tweeted it. And so the thing moves like it 200 00:10:49,280 --> 00:10:51,280 doesn't change fundamentally anything. 201 00:10:51,760 --> 00:10:54,240 It's just something that people like to like gamble around. 202 00:10:54,360 --> 00:10:57,840 And so employment was better than expected. 203 00:10:58,040 --> 00:11:00,720 The expectations are very low. Sorry, my thoughts are being a 204 00:11:00,760 --> 00:11:02,920 little bit naughty right now, but the expectations were low, 205 00:11:02,920 --> 00:11:04,120 right? If you think about, you know, 206 00:11:04,240 --> 00:11:07,600 your average monthly gain for like a healthy job economy, 207 00:11:07,800 --> 00:11:11,360 around 220,000 jobs per month. So even though we beat 208 00:11:11,360 --> 00:11:15,040 expectations, 133,000 is just not bad. 209 00:11:15,040 --> 00:11:18,280 I mean, 177 times, it's still still not to that level that you 210 00:11:18,280 --> 00:11:19,520 would expect from a healthy economy. 211 00:11:19,960 --> 00:11:23,920 Unemployment rate kind of sticky above 4%, which is still pretty 212 00:11:23,920 --> 00:11:25,280 good. It's not, you know, 213 00:11:25,960 --> 00:11:30,680 recessionary, but we're just at a turning point here. 214 00:11:30,680 --> 00:11:33,720 I think where like really have to be looking at what's 215 00:11:33,720 --> 00:11:35,480 outperforming, what's driving the market. 216 00:11:35,480 --> 00:11:37,840 A lot of stuff that's driving the market right now, tech 217 00:11:37,840 --> 00:11:40,560 companies are companies that, you know, are defensive in 218 00:11:40,560 --> 00:11:43,640 nature, especially in a world of tariffs where, you know, there's 219 00:11:43,640 --> 00:11:46,640 software companies that don't really have that need for 220 00:11:46,840 --> 00:11:49,480 capital goods to come in from China. 221 00:11:50,160 --> 00:11:53,160 And so, you know, you have a lot of money invested in the market 222 00:11:53,160 --> 00:11:56,760 that has to be parked somewhere. I think something from the 223 00:11:56,760 --> 00:11:59,280 crypto perspective are like, you know, all in either in Bitcoin 224 00:11:59,280 --> 00:12:01,600 or you're in Ethereum or you're in Solana or you're in Ethereum 225 00:12:01,600 --> 00:12:03,480 or you're in NFTS or you're in shit coins. 226 00:12:04,080 --> 00:12:07,560 But there's hundreds of thousands of asset managers out 227 00:12:07,560 --> 00:12:10,560 there that need to be like US equities, right? 228 00:12:10,560 --> 00:12:14,880 And they, they need to be like 85% invested in US equities. 229 00:12:15,280 --> 00:12:16,760 So what do you do? Right? 230 00:12:16,760 --> 00:12:20,240 So you sell the stuff that might have an impact from, you know, 231 00:12:20,240 --> 00:12:21,880 some of the soft data that we're seeing. 232 00:12:21,960 --> 00:12:25,760 And again, look ahead where the economy will slow down, maybe 233 00:12:25,760 --> 00:12:29,680 like financials, real estate, you sell that and then you hide 234 00:12:29,760 --> 00:12:33,720 in stuff like Microsoft that just printed a great number that 235 00:12:33,720 --> 00:12:37,080 again, it's not really important things from China that has AAI 236 00:12:37,080 --> 00:12:40,320 kind of like tailwind. And of course them being such an 237 00:12:40,320 --> 00:12:43,680 oversized component of the index, then you get this kind of 238 00:12:43,680 --> 00:12:45,520 stuff or like, oh, stocks are really good. 239 00:12:46,200 --> 00:12:48,120 And it I don't think it's a bull trap. 240 00:12:48,120 --> 00:12:51,760 It's just more consequence of the way like all these indices 241 00:12:51,800 --> 00:12:54,800 are put together and it can be a mirage. 242 00:12:55,520 --> 00:12:59,680 I think, you know, it's good, but it's just time to be like a 243 00:12:59,680 --> 00:13:02,200 little bit more alert as to what's really happening on the 244 00:13:02,200 --> 00:13:04,520 surface. Yeah, I think that makes a lot 245 00:13:04,520 --> 00:13:07,120 of sense. So I had this like gut read with 246 00:13:07,120 --> 00:13:13,600 no data backing up that I just felt like fund managers, like 247 00:13:14,360 --> 00:13:17,200 wealth advisors, like they, they want to put capital in the 248 00:13:17,200 --> 00:13:18,520 market. So I feel like no one wants to 249 00:13:18,520 --> 00:13:22,400 be in cash. It's not a sexy thing to do. 250 00:13:22,400 --> 00:13:24,240 It's not what they're being paid to do. 251 00:13:24,360 --> 00:13:27,680 And I feel like every time we got any glimpse of positive 252 00:13:27,680 --> 00:13:30,160 news, everyone like we were saying that pump, right? 253 00:13:30,160 --> 00:13:33,760 It just felt like to me that that money was pouring in. 254 00:13:33,800 --> 00:13:37,000 So kind of hearing that from you kind of does kind of confirm 255 00:13:37,000 --> 00:13:41,960 that idea for me. So I guess So what is your like? 256 00:13:41,960 --> 00:13:44,040 What's your outlook over the next couple quarters? 257 00:13:45,960 --> 00:13:50,040 And on one side, I want to be optimistic that, you know, if 258 00:13:50,040 --> 00:13:53,640 things really go South quickly in the economy, there's going to 259 00:13:53,640 --> 00:13:57,880 be some sort of like backstop stimulus or something like that. 260 00:13:57,880 --> 00:14:00,600 Or again, this is a like a self-inflicted one, right? 261 00:14:00,600 --> 00:14:03,440 This whole tariff thing, liberation date was a mistake. 262 00:14:03,880 --> 00:14:08,320 And so you can take that away with one tweet and that should 263 00:14:08,320 --> 00:14:10,280 see the kind of reaction that we've seen so far. 264 00:14:10,720 --> 00:14:14,280 Having said that, right? If you continue to see this kind 265 00:14:14,280 --> 00:14:20,160 of just misunderstanding of reality with like the impact of 266 00:14:20,160 --> 00:14:23,720 tariffs, how they are a tax on the lower and middle income 267 00:14:23,720 --> 00:14:25,760 classes. If you're going to use that as 268 00:14:25,760 --> 00:14:29,720 an excuse to cut taxes on the wealthy, then definitely I 269 00:14:29,720 --> 00:14:32,800 think, you know, you're going to see potentially. 270 00:14:32,800 --> 00:14:35,600 So for example, I was arguing with some friends earlier today 271 00:14:35,600 --> 00:14:37,400 on a group text. They're like, oh man, the stocks 272 00:14:37,400 --> 00:14:39,760 are up. You know, first like whatever 10 273 00:14:39,760 --> 00:14:42,560 day win streak in like 20 years, I'm like, yeah, we went from 274 00:14:42,560 --> 00:14:45,160 6:00 to 8:00 when we could have been at 12. 275 00:14:45,880 --> 00:14:48,840 So for me, it's like we could have been much higher already if 276 00:14:48,840 --> 00:14:50,960 they had just put in the pro growth policies that were 277 00:14:50,960 --> 00:14:54,560 promised in the election and not messed around with like trying 278 00:14:54,560 --> 00:14:57,320 to reset the global trade order all in one go. 279 00:14:57,840 --> 00:15:00,640 Unfortunately, you know, we're we're not there yet. 280 00:15:00,640 --> 00:15:03,920 And so I think it's important to just kind of like keep in mind 281 00:15:03,920 --> 00:15:07,560 what could happen if those Chinese tariffs really start 282 00:15:07,560 --> 00:15:09,200 hitting. You know, we're, we're making, 283 00:15:09,200 --> 00:15:10,560 we'll talk about Meebits. We're like, we're making toys 284 00:15:10,560 --> 00:15:13,360 from ebits. And like every single day we get 285 00:15:13,360 --> 00:15:16,280 emails from like the toy association saying like, hey, 286 00:15:16,280 --> 00:15:18,600 these tariffs are literally going to take out half the 287 00:15:18,600 --> 00:15:20,960 industry. So what happens then, right. 288 00:15:20,960 --> 00:15:23,600 If like, you know, we've pulled that back a little bit because 289 00:15:23,600 --> 00:15:27,040 like, we don't want to spend $500 on a thing that we can sell 290 00:15:27,040 --> 00:15:28,560 for 400 bucks because of tariffs. 291 00:15:29,000 --> 00:15:30,880 So then we're not putting in orders for the toy. 292 00:15:31,000 --> 00:15:33,560 You know, manufacturers and even though they might be in China, 293 00:15:33,920 --> 00:15:36,840 like the shipping companies, probably like FedEx or UPS, 294 00:15:36,840 --> 00:15:40,200 those are American. The retailers are obviously 295 00:15:40,200 --> 00:15:43,040 here, the employees of the retailers, obviously American. 296 00:15:43,040 --> 00:15:46,440 So that chain does take a little bit of time to play out. 297 00:15:46,440 --> 00:15:50,280 So I think it's just time to be really vigilant and really 298 00:15:50,280 --> 00:15:54,960 understand that, you know, markets go up on a staircase, 299 00:15:54,960 --> 00:15:58,200 but down an elevator. And and that's what we see, 300 00:15:58,200 --> 00:16:01,120 right, like escalator up, elevator down where like they 301 00:16:01,120 --> 00:16:02,960 Chuck, Chuck, Chuck, Chuck. And then just like we saw 302 00:16:02,960 --> 00:16:06,440 Liberation Day. If nothing's really changed and 303 00:16:06,440 --> 00:16:08,320 it was just something like, you know, like announcements like 304 00:16:08,320 --> 00:16:10,480 that that, you know, are so ridiculous, they're probably not 305 00:16:10,480 --> 00:16:12,240 taken back then great bag of attorneys. 306 00:16:12,680 --> 00:16:14,560 But if things are going to change materially where they're 307 00:16:14,560 --> 00:16:16,920 like, you know what, screw this, or like a bomb goes off 308 00:16:16,920 --> 00:16:19,320 somewhere, then that's a different conversation. 309 00:16:19,680 --> 00:16:22,240 Yeah, I think what's been interesting to me is a little 310 00:16:22,240 --> 00:16:23,840 bit about how the narrative has changed, right? 311 00:16:23,840 --> 00:16:27,040 It's like when this first started, there was a bit of this 312 00:16:27,960 --> 00:16:31,360 picture that you're going to be in for some near term pain while 313 00:16:31,360 --> 00:16:35,840 we correct some serious issues in the US economy and government 314 00:16:35,840 --> 00:16:40,240 spending and the debt. And it feels like we're kind of 315 00:16:40,240 --> 00:16:42,520 walking some of that back. And like, of course, it's nice 316 00:16:42,520 --> 00:16:45,920 to see the markets go back up. And I think we have made some 317 00:16:45,920 --> 00:16:50,240 progress on some trade deals. On paper, I think you could 318 00:16:50,240 --> 00:16:52,960 argue the opposite side that the global relations have perhaps 319 00:16:52,960 --> 00:16:54,880 more and more than the gain we're getting. 320 00:16:55,120 --> 00:16:58,200 That's a longer conversation, but it does feel like it's 321 00:16:58,200 --> 00:17:00,440 changed a little bit. And I guess where I'm going with 322 00:17:00,440 --> 00:17:01,600 this, I'm curious for your perspective. 323 00:17:01,600 --> 00:17:04,680 I've seen you, I've seen you be critical and, and that that's 324 00:17:04,680 --> 00:17:07,400 great. How would you rate Trump's first 325 00:17:07,400 --> 00:17:12,599 100 days overall and then Part 2 specifically for crypto? 326 00:17:12,599 --> 00:17:14,000 And then we'll get into the crypto part of this 327 00:17:14,000 --> 00:17:16,599 conversation. I think overall, probably one of 328 00:17:16,599 --> 00:17:18,119 the worst first 100 days that we've had. 329 00:17:18,119 --> 00:17:20,680 I mean, the market's telling you that, right? 330 00:17:20,680 --> 00:17:25,240 Like we've had the worst start for an administration in decades 331 00:17:25,240 --> 00:17:26,240 or history. I don't even know. 332 00:17:27,480 --> 00:17:31,320 So the the market being the largest voting waiting machine 333 00:17:31,760 --> 00:17:33,760 is just telling you that it's not me being political. 334 00:17:33,760 --> 00:17:37,440 It's just the market telling you that for crypto again, right. 335 00:17:37,440 --> 00:17:41,520 We thought it was going to be a super pro crypto administration 336 00:17:41,520 --> 00:17:45,360 like Bitcoin should be at 150 K. We're getting excited about 337 00:17:45,560 --> 00:17:48,960 potentially going back to 100K which we hit over Basel. 338 00:17:48,960 --> 00:17:52,080 I remember I was in Miami with, with my friends and when it hit, 339 00:17:52,080 --> 00:17:55,640 we were like all super excited. So the fact that, you know, 340 00:17:55,640 --> 00:17:59,880 we're trying to inch back to 100K when we're already there, 341 00:18:00,400 --> 00:18:05,040 it doesn't feel like good to me. Now that's from the market price 342 00:18:05,040 --> 00:18:07,720 perspective. Obviously the regulation change, 343 00:18:07,800 --> 00:18:11,040 obviously, you know, releasing some of those prisoners that 344 00:18:11,040 --> 00:18:14,240 were, you know, crimes involving crypto that might not have been 345 00:18:14,240 --> 00:18:19,160 crimes is, is super positive. And so from that sense, I think 346 00:18:19,160 --> 00:18:22,160 from the regulatory perspective, really, really good. 347 00:18:22,560 --> 00:18:25,400 Personally don't think that's the executive, that's more the 348 00:18:25,400 --> 00:18:27,640 people that have been, you know, in Congress. 349 00:18:27,640 --> 00:18:29,120 And so like pushing from the inside. 350 00:18:29,120 --> 00:18:33,120 Obviously, you know, places like stand with crypto really doing a 351 00:18:33,120 --> 00:18:36,480 good job at at at, you know, flexing their muscles. 352 00:18:37,680 --> 00:18:41,040 I think it's worrisome that, you know, it's almost pay to play 353 00:18:41,040 --> 00:18:42,800 now with World Liberty Financial. 354 00:18:42,800 --> 00:18:45,520 Like you see an announcement of somebody investing in World 355 00:18:45,520 --> 00:18:49,200 Liberty Financial and they either get a part in or they get 356 00:18:49,200 --> 00:18:51,560 something taken away. There was just some news 357 00:18:51,560 --> 00:18:54,280 yesterday about like, I think it was Abu Dhabi, $2 billion 358 00:18:54,280 --> 00:18:56,200 investment into like Trump crypto. 359 00:18:56,640 --> 00:19:01,440 And then the next day the US is taking, you know, restrict 360 00:19:01,560 --> 00:19:05,080 restrictions off from, you know, chips being sold over there. 361 00:19:05,080 --> 00:19:07,360 And you're like, come on, man. Like because what's happening is 362 00:19:07,600 --> 00:19:10,960 in four years, if the Democrats come back in, like crypto's 363 00:19:10,960 --> 00:19:12,560 going to be Public Enemy #1 again. 364 00:19:12,560 --> 00:19:17,120 And and so that's a concern. We we don't have to go that way 365 00:19:17,120 --> 00:19:20,160 to be pro crypto. But yeah, I'll just let the 366 00:19:20,160 --> 00:19:22,640 market speak for itself. I think you know for for the 367 00:19:22,640 --> 00:19:26,960 economy BAT for crypto not as good as expected. 368 00:19:28,400 --> 00:19:32,560 Interesting that you're saying not as good as expected because 369 00:19:32,560 --> 00:19:36,080 I, I just, I gave my ratings the other day and I, I think I, I 370 00:19:36,080 --> 00:19:39,840 gave them an A just because of the, the regulations. 371 00:19:39,880 --> 00:19:44,960 Well, OK, an asterisk a putting the meme coin launch aside. 372 00:19:45,480 --> 00:19:49,880 A -, I will give. OK, so I think that's fair. 373 00:19:49,880 --> 00:19:54,080 And I do agree with you that some of his personal moves, the 374 00:19:54,080 --> 00:19:56,680 meme coin with World Liberty 5 now potentially with True Social 375 00:19:56,680 --> 00:20:00,120 doing its own token has muddied it quite a bit. 376 00:20:00,640 --> 00:20:04,000 And I am also, I think one of the biggest risks out there is. 377 00:20:05,360 --> 00:20:09,600 A political shift and the crypto becoming enemy #1 again driven 378 00:20:09,600 --> 00:20:12,200 because of some of his personal actions and A and a view as 379 00:20:12,200 --> 00:20:15,640 crypto equals trump and a crackdown I. 380 00:20:16,080 --> 00:20:19,280 Mean we saw with Tesla, right? Like Tesla went from the being 381 00:20:19,280 --> 00:20:22,600 the darling on the left because of, you know, environmental 382 00:20:22,600 --> 00:20:26,360 concerns and electric vehicles. So now people are doing stupid 383 00:20:26,360 --> 00:20:28,360 shit to cars. Like it's insane. 384 00:20:28,360 --> 00:20:33,280 But that's the way humans are. And so that's, yeah, A for the 385 00:20:33,280 --> 00:20:36,560 regulation minus for the stuff around it. 386 00:20:37,280 --> 00:20:40,120 And, and again, I think because of the economy, we should be 387 00:20:40,120 --> 00:20:44,080 much higher on prices, both for stocks and crypto. 388 00:20:44,160 --> 00:20:47,640 And so, you know, we can blame Biden all we want, but that's 389 00:20:47,640 --> 00:20:49,320 just not the way the world works. 390 00:20:50,640 --> 00:20:54,040 We'll see if Biden gets credit for this 20 day rally if if it 391 00:20:54,040 --> 00:20:56,880 closes here today. Well, now that we, we put it to 392 00:20:56,880 --> 00:20:59,640 crypto, Sergio, I'm curious. Take a look at the board now. 393 00:20:59,840 --> 00:21:01,400 You kind of outlined your, your macro thoughts. 394 00:21:01,400 --> 00:21:03,400 Like what? What jumping? 395 00:21:03,400 --> 00:21:05,160 What is jumping out to you like a are you? 396 00:21:05,400 --> 00:21:07,040 Are you making Yeah, I saw Amanda just join us. 397 00:21:07,040 --> 00:21:09,560 We were on recfishing a couple weeks ago. 398 00:21:09,560 --> 00:21:12,400 And I think one of the recurring themes whenever I I, I get 399 00:21:12,400 --> 00:21:16,560 tapped into to SIM for, for OB when he's traveling is that 400 00:21:16,640 --> 00:21:19,840 Bitcoin is completely decoupled from the rest of the crypto 401 00:21:19,840 --> 00:21:22,240 market from the flow perspective, right? 402 00:21:22,240 --> 00:21:24,440 You're just talking about the Bitcoin ETFs. 403 00:21:25,520 --> 00:21:28,000 Normally that, but then you have, you know, Sailor sitting 404 00:21:28,000 --> 00:21:31,760 there on the bed every so often, whereas the rest of the crypto 405 00:21:31,760 --> 00:21:35,080 market, it more closely resembles what we're seeing kind 406 00:21:35,080 --> 00:21:37,680 of like the tech stocks and some of the more frontier tech 407 00:21:38,080 --> 00:21:41,320 things. What stands out is just listen, 408 00:21:41,320 --> 00:21:43,560 I love ETH. I think we all do, even if 409 00:21:43,560 --> 00:21:47,040 people say they don't anymore. I think we all came through the 410 00:21:47,040 --> 00:21:49,520 NFT ecosystem. It holds a special place in our 411 00:21:49,520 --> 00:21:52,640 hearts. It's great that we have new 412 00:21:52,640 --> 00:21:55,960 leadership at the foundation and they're like more focused on UX 413 00:21:55,960 --> 00:21:58,880 scaling the L1 and just the BLOB fee structure. 414 00:21:59,440 --> 00:22:02,600 But it is painful to see it, you know, at the same prices where 415 00:22:02,600 --> 00:22:07,440 it was back when we were fumbling into NFTS 4 years ago. 416 00:22:07,440 --> 00:22:09,280 So I think it's a good opportunity here. 417 00:22:09,960 --> 00:22:11,240 But I've been saying that for a while. 418 00:22:11,240 --> 00:22:13,160 Obviously it's been completely wrong. 419 00:22:13,160 --> 00:22:16,520 And so, you know, I've stopped saying it publicly not to 420 00:22:16,520 --> 00:22:20,000 embarrass myself further. But the rest of the market, I 421 00:22:20,000 --> 00:22:21,280 think it's just going to be challenged. 422 00:22:21,360 --> 00:22:27,600 There's no, there's not a lot of demand from new capital that 423 00:22:27,680 --> 00:22:32,200 would look beyond, you know, your Bitcoin maybe like you're 424 00:22:32,200 --> 00:22:36,360 eating your Solana to really support the level of supply that 425 00:22:36,360 --> 00:22:37,840 we're seeing across the board, right? 426 00:22:37,840 --> 00:22:41,240 Like the other day there was what $69 million worth of 427 00:22:41,240 --> 00:22:45,440 investments announced into new L ones like give me a break. 428 00:22:45,880 --> 00:22:49,800 Nobody uses anything. I mean, even like hardly ever 429 00:22:49,800 --> 00:22:52,240 anybody uses it anymore like gas, like .1. 430 00:22:52,920 --> 00:22:57,520 So, so the fact that, you know, we all know liquidity for this 431 00:22:57,520 --> 00:23:01,280 funds for this investments will come from your token launches it 432 00:23:01,280 --> 00:23:05,360 it's just a bit of a, it's a bit tragic because all of that is 433 00:23:05,360 --> 00:23:07,520 just going to take away liquidity from the market 434 00:23:07,520 --> 00:23:09,480 itself, right? It's going to go into the wrong 435 00:23:09,480 --> 00:23:11,720 places. And so, yeah, for, for, for 436 00:23:11,720 --> 00:23:14,680 certain investors that get to buy tokens are a fraction of a 437 00:23:14,680 --> 00:23:18,640 penny, wait a year and dump it at $0.05. 438 00:23:18,640 --> 00:23:20,240 Of course you're going to keep on doing that. 439 00:23:20,680 --> 00:23:23,560 But for the average user that's coming in and say, hey, I used 440 00:23:23,560 --> 00:23:26,520 this test net or I use this like new chain, I like it a lot. 441 00:23:26,520 --> 00:23:30,080 It's fast, it gave me points. I'm going to buy some more of 442 00:23:30,080 --> 00:23:32,520 the tokens. And then it goes from $0.05 back 443 00:23:32,520 --> 00:23:35,320 to 1 cent, right? We're going to keep on losing 444 00:23:35,320 --> 00:23:37,480 potential, you know, adopters and users. 445 00:23:37,480 --> 00:23:41,200 So I think it's a, it's a very negative flywheel that I hope it 446 00:23:41,200 --> 00:23:43,760 stops one day, but I I don't see it stopping. 447 00:23:43,760 --> 00:23:45,960 So what's my outlook? I think, you know, Bitcoin 448 00:23:45,960 --> 00:23:47,760 continues to outperform everything. 449 00:23:48,560 --> 00:23:51,720 I think depending on how you calculate BTC dominance, it will 450 00:23:51,840 --> 00:23:55,120 just continue to remain very elevated, especially as gold, 451 00:23:55,200 --> 00:23:57,640 you know, obviously it's come off, but it's, it's, you know, 452 00:23:57,680 --> 00:24:01,160 multi tech historic highs. So that narrative of Bitcoin 453 00:24:01,160 --> 00:24:03,040 being digital gold, I think plays really well. 454 00:24:03,720 --> 00:24:05,040 And two, just ease of access, right? 455 00:24:05,040 --> 00:24:07,760 Like anybody can buy Bitcoin through the ETFs. 456 00:24:07,920 --> 00:24:10,960 You know, a whole new like you can't really put ether or Solana 457 00:24:10,960 --> 00:24:13,320 in retirement accounts, you can't put Bitcoin. 458 00:24:13,320 --> 00:24:17,600 So that opens up a lot of new different portfolios that the 459 00:24:17,600 --> 00:24:19,600 asset can go into. Obviously we're hearing talk 460 00:24:19,600 --> 00:24:22,680 about, you know, other strategic reserves across the world from 461 00:24:22,680 --> 00:24:25,320 countries and so on. And that's all Bitcoin. 462 00:24:25,320 --> 00:24:27,760 So that, you know, with the couple, I think you'll bring a 463 00:24:27,760 --> 00:24:30,760 lot of frustration to people that expect that old cycle to 464 00:24:30,760 --> 00:24:34,320 come one day, you know, rolling down from Bitcoin into the rest 465 00:24:34,320 --> 00:24:36,640 of the stuff. Unless we get some like massive 466 00:24:36,640 --> 00:24:38,800 stimulus package, I don't see that happen. 467 00:24:38,800 --> 00:24:41,200 We'll see pockets of, you know, excitement like we're seeing 468 00:24:41,880 --> 00:24:43,280 with Sui. I think they're doing things 469 00:24:43,280 --> 00:24:45,880 right. Obviously, Solana, you know, 470 00:24:45,920 --> 00:24:49,880 playing the game really well, you know, setting up loving 471 00:24:49,880 --> 00:24:53,360 effort in DC, hiring the ex head of the blockchain association to 472 00:24:53,400 --> 00:24:55,360 push for that. They're pushing hard into New 473 00:24:55,360 --> 00:24:58,880 York with their new office. So like those kinds of plays, 474 00:24:58,880 --> 00:25:02,720 yes, but like the overall market, I think unless we get 475 00:25:02,720 --> 00:25:05,640 stimulus, it's just going to be a continuous just kind of like 476 00:25:06,120 --> 00:25:09,640 meltdown and and kind of very similar to so with IFTC 21, 477 00:25:09,720 --> 00:25:11,760 right, Like it was like everything was pumping and then 478 00:25:11,760 --> 00:25:14,800 only three things were pumping and then it was like at the very 479 00:25:14,800 --> 00:25:18,120 end, it was like apes other side and ape chain and then 480 00:25:18,200 --> 00:25:21,520 everything just melted. And and that's my expectation 481 00:25:21,520 --> 00:25:23,400 for like the overall crypto spot Mark. 482 00:25:25,240 --> 00:25:29,160 Interesting, and that a little a little gloomy, but I I think 483 00:25:29,400 --> 00:25:31,800 fair. I just buy Bitcoin either in 484 00:25:31,800 --> 00:25:35,480 Salon, I call it a day. If you want to gamble, there's a 485 00:25:35,480 --> 00:25:38,440 lot of fun stuff to gamble on, but they're not investments. 486 00:25:39,880 --> 00:25:41,520 I think that's, I think that's the difference, right? 487 00:25:41,560 --> 00:25:43,680 I'm thinking long term misinvestment, change the world 488 00:25:43,680 --> 00:25:46,080 kind of thing. It will be the top 3 or 4. 489 00:25:46,360 --> 00:25:50,880 You know, networks if you want to have fun, play a meme. 490 00:25:51,520 --> 00:25:54,160 That's different, right? That's like, you know, if you 491 00:25:54,160 --> 00:25:57,320 want to be a better quarterback or you're a high school senior, 492 00:25:57,320 --> 00:26:01,800 you're watching a lot of tape, you're not watching ESPN for 493 00:26:01,800 --> 00:26:04,240 like the line on the games this weekend. 494 00:26:04,360 --> 00:26:05,600 I think that's the difference, right? 495 00:26:05,600 --> 00:26:08,960 You either want to be a good investor, long term 496 00:26:08,960 --> 00:26:13,600 technologist, or you want to be a good short term trader, play 497 00:26:13,600 --> 00:26:17,560 the narratives, understand like meme cycles and all that stuff. 498 00:26:17,560 --> 00:26:21,240 And those are two very, very different fields. 499 00:26:21,320 --> 00:26:22,920 Same thing happens in traditional finance of the 500 00:26:22,920 --> 00:26:24,880 Warren Buffett's of the world, right? 501 00:26:24,880 --> 00:26:27,280 Like there was a very stupid headline going around like, oh, 502 00:26:27,280 --> 00:26:30,120 Warren Buffett owns 5% of all treasuries. 503 00:26:30,520 --> 00:26:33,400 And it's idiotic. Like if you do not know Warren 504 00:26:33,400 --> 00:26:35,960 Buffett's business model, of course you're like, Oh my God, 505 00:26:37,240 --> 00:26:38,880 you think it's like that he owns treasuries. 506 00:26:38,880 --> 00:26:42,080 No, he owns one of the largest insurance groups in the world 507 00:26:42,480 --> 00:26:44,760 and they have to stash the cash somewhere and they own 508 00:26:44,760 --> 00:26:47,360 treasuries, period. Like that's where you, yes, you 509 00:26:47,360 --> 00:26:51,480 know, it's risk free rate, but his business over the last 50 510 00:26:51,480 --> 00:26:54,200 years have been building like undervalue companies with those 511 00:26:54,200 --> 00:26:57,560 insurance funds and just leveraging that over and over 512 00:26:57,560 --> 00:27:00,440 again, right. Versus somebody like, you know, 513 00:27:00,440 --> 00:27:03,920 the guys that run, you know, Brevan Howard and Millennium and 514 00:27:03,960 --> 00:27:07,120 all those hedge funds that are really more looking for, you 515 00:27:07,120 --> 00:27:09,280 know, a different kind of play that used to leverage 516 00:27:09,280 --> 00:27:13,600 derivatives and so on. And and and and there's room for 517 00:27:13,600 --> 00:27:18,240 everybody to my point. And so market wise by the big 518 00:27:18,240 --> 00:27:20,120 guys, if you're thinking long term, you want to sleep at 519 00:27:20,120 --> 00:27:21,800 night, you have a nine to five. You don't want to be worried 520 00:27:21,800 --> 00:27:23,760 about, you know, sitting on pump fun. 521 00:27:24,720 --> 00:27:27,080 Or or boot fun, which we'll get to here. 522 00:27:27,520 --> 00:27:28,440 Or the new one? Yeah, great. 523 00:27:28,680 --> 00:27:31,440 Great advice. The the benefit to the listeners 524 00:27:31,440 --> 00:27:34,560 of this show is on a daily basis they get they get Mando's macro 525 00:27:34,560 --> 00:27:35,840 outlook. And. 526 00:27:36,680 --> 00:27:39,920 Then they go, they get to go venture down the risk curve with 527 00:27:39,920 --> 00:27:41,440 me and all. The. 528 00:27:41,720 --> 00:27:44,200 Did you make a did you make a coin yesterday, Tyler? 529 00:27:44,720 --> 00:27:47,760 Not yet, but it's on my To Do List for today. 530 00:27:48,040 --> 00:27:49,360 I do think I am going to launch one. 531 00:27:50,040 --> 00:27:53,160 Yeah, why not? I think the upside, the upside 532 00:27:53,160 --> 00:27:55,400 is just too strong. You know, it'll come with all 533 00:27:55,400 --> 00:27:57,080 the disclaimers. I'm not going to run it like a 534 00:27:57,080 --> 00:27:59,760 project. Don't expect you know me to run 535 00:27:59,760 --> 00:28:02,760 this like Mandarin, Epic. It's going to be a collectible 536 00:28:03,200 --> 00:28:07,000 NFADYOR. It's so fucking hilarious, like 537 00:28:07,560 --> 00:28:11,680 I actually have tried to tried to do this for the last year. 538 00:28:11,680 --> 00:28:16,200 Now everyone's just launched 1. And then rugged it like 539 00:28:16,200 --> 00:28:20,200 literally insta rug from like the top 300 kols in the space. 540 00:28:21,760 --> 00:28:24,800 Yeah, ridiculous. Are you going to do another one? 541 00:28:25,880 --> 00:28:27,360 No. No, to get your I'm. 542 00:28:27,840 --> 00:28:28,720 Done. I'm done. 543 00:28:29,240 --> 00:28:32,760 Yeah, very fair. We'll we'll see. 544 00:28:32,760 --> 00:28:38,320 I haven't clicked the the launch button just yet, but I'm in that 545 00:28:38,440 --> 00:28:42,720 400,000 token tier and of course I don't expect that boop token 546 00:28:42,720 --> 00:28:49,360 to be quite as high in 20 to 30 days as it is now, but it's a 547 00:28:49,680 --> 00:28:55,040 decent little AirDrop, so enough to to consider the the decision 548 00:28:55,040 --> 00:28:57,080 here. It's trading at 350 million, 549 00:28:57,080 --> 00:29:01,600 still 335 cents. I'll be honest, when it was 550 00:29:01,600 --> 00:29:04,160 straight down yesterday and the sentiment all over the timeline 551 00:29:04,160 --> 00:29:06,880 was very negative, I thought it was already over. 552 00:29:08,000 --> 00:29:10,560 But it seems like they flipped the script overnight. 553 00:29:10,640 --> 00:29:13,320 I think they got the platform back working and then Dingling 554 00:29:13,760 --> 00:29:17,200 rolled in with 1000 soul and said I'm going to buy some of 555 00:29:17,200 --> 00:29:21,200 these tokens. That was enough to help shift 556 00:29:21,200 --> 00:29:23,280 things. And then their incentives are 557 00:29:23,280 --> 00:29:26,880 good. Like this does not mean that 558 00:29:26,880 --> 00:29:30,120 good good meme coins are going to come out of this ecosystem, 559 00:29:30,240 --> 00:29:34,240 but the incentives are there. So every day, 1,000,000 tokens 560 00:29:34,240 --> 00:29:38,040 are given out to create to creators and holders of tokens 561 00:29:38,040 --> 00:29:40,040 that graduate. That's that's. 562 00:29:40,040 --> 00:29:43,720 A good thing, it feels. It feels like it's rare all over 563 00:29:43,720 --> 00:29:45,880 again. It's like cool tokenomics that 564 00:29:45,880 --> 00:29:49,040 that will fizzle out in two few months, right? 565 00:29:49,640 --> 00:29:51,280 Yeah. Remember the looks of that job 566 00:29:51,280 --> 00:29:53,160 Which? Is a long time well. 567 00:29:53,720 --> 00:29:55,320 Free money's free money though, if you can get it. 568 00:29:56,120 --> 00:30:01,640 Of course. So I think they are, I think 569 00:30:01,680 --> 00:30:02,560 they're going to have some success. 570 00:30:02,560 --> 00:30:03,920 Well, again, I'm curious for your thoughts on the launch. 571 00:30:03,920 --> 00:30:06,000 Sorry, we've been, we've been talking about this a little bit 572 00:30:06,960 --> 00:30:11,640 incentivizing Kols to launch coins that they don't want, like 573 00:30:11,640 --> 00:30:13,000 an action that they don't want to take. 574 00:30:13,000 --> 00:30:16,800 And they're just going to say, but do not buy in the tagline of 575 00:30:16,800 --> 00:30:20,040 the coin or even name it, do not buy. 576 00:30:20,880 --> 00:30:24,040 What's the point of that? You know, I don't know, I've 577 00:30:24,040 --> 00:30:27,880 grappled with it and like initially upon launch, I went 578 00:30:27,880 --> 00:30:31,840 back and forth just a little bit, but ultimately I, I, I 579 00:30:31,840 --> 00:30:36,240 welcome the potential innovation and I definitely like champion 580 00:30:36,240 --> 00:30:39,080 people trying to do new things. I'm all for that. 581 00:30:39,680 --> 00:30:42,600 And I think it's great that they incentivize people to take the 582 00:30:42,600 --> 00:30:44,880 actions that they want them to take, right? 583 00:30:44,880 --> 00:30:46,240 They wanted people to launch tokens. 584 00:30:46,240 --> 00:30:48,320 They want people to buy tokens, so they're incentivizing them to 585 00:30:48,320 --> 00:30:50,120 do so. That makes a lot of sense to me. 586 00:30:50,800 --> 00:30:55,240 What makes less sense to me is just the fact that the people 587 00:30:55,240 --> 00:30:59,040 themselves don't want to do so. And it became so loud on the 588 00:30:59,040 --> 00:31:01,000 timeline that nobody wanted to do so. 589 00:31:01,280 --> 00:31:04,600 And you created like this instant negative sentiment as 590 00:31:04,600 --> 00:31:09,440 you, as you mentioned, that permeated my timeline. 591 00:31:09,720 --> 00:31:11,560 I would imagine almost everybody's timeline. 592 00:31:11,560 --> 00:31:14,040 I did not see many positive takes yesterday. 593 00:31:14,320 --> 00:31:17,160 Of course, getting the platform up and running is a great first 594 00:31:17,160 --> 00:31:21,200 start to to combat that, but I actually like, I haven't been on 595 00:31:21,200 --> 00:31:25,360 too much this morning just yet. Like where have you noticed a a 596 00:31:25,360 --> 00:31:27,280 sentiment shift this morning, Tyler? 597 00:31:27,280 --> 00:31:29,080 Or or not I think. So the. 598 00:31:29,440 --> 00:31:31,480 Again. The public started to work and I 599 00:31:31,520 --> 00:31:34,720 think more people launch tokens and then like they're starting 600 00:31:34,720 --> 00:31:37,000 to have some winners. So like this Bupa token is now 601 00:31:37,000 --> 00:31:41,360 the top performer. It's at 7.5 million market cap. 602 00:31:42,320 --> 00:31:44,720 I think that's higher than any of Radium's launch lab tokens 603 00:31:44,720 --> 00:31:47,080 went. So they've already outperformed 604 00:31:47,560 --> 00:31:52,040 Radium's launch lab. Well, money talks. 605 00:31:52,040 --> 00:31:54,400 So yeah, people are making money. 606 00:31:54,400 --> 00:31:58,120 This, I would imagine sentiment shifts just a little bit and 607 00:31:58,200 --> 00:31:59,840 people are feeling a little bit better about things. 608 00:31:59,840 --> 00:32:02,400 But I, I think I'm with Mando at this point. 609 00:32:02,400 --> 00:32:09,160 I mean, the sustainability. I just, I don't know, I would 610 00:32:09,160 --> 00:32:11,760 like to see something work. Of course, I'm not rooting 611 00:32:11,760 --> 00:32:18,040 against boop dot fund. I'm just leery of and wary of, 612 00:32:18,240 --> 00:32:21,040 you know, something like this having happened many times in 613 00:32:21,040 --> 00:32:23,400 the past and not having succeeded so. 614 00:32:23,720 --> 00:32:28,200 Yeah, I think being wary is the correct, the correct emotion 615 00:32:28,320 --> 00:32:32,360 slash reaction. We'll, we'll see. 616 00:32:32,360 --> 00:32:34,200 I think they'll continue to get interaction through this 617 00:32:34,200 --> 00:32:37,200 weekend. One item, a note with all the 618 00:32:37,200 --> 00:32:40,640 focus on boop yesterday, and perhaps that was their goal, 619 00:32:40,640 --> 00:32:42,960 perhaps getting the KO LS to do all this was just a massive 620 00:32:42,960 --> 00:32:45,160 attention event and they got it. They they nailed the attention 621 00:32:45,160 --> 00:32:46,480 event. That's undeniable. 622 00:32:48,800 --> 00:32:51,320 I think some of the the hotter new coins of the day were were 623 00:32:51,320 --> 00:32:55,240 still launched on Pom pom. So I think there's still going 624 00:32:55,240 --> 00:32:58,040 to be a little bit of this is forced for farming slash air 625 00:32:58,040 --> 00:33:01,280 drops versus like more true or organic means are going to be 626 00:33:01,280 --> 00:33:04,960 perhaps elsewhere. So what we will see, man, I know 627 00:33:05,000 --> 00:33:07,080 you you join us late. What we're going to get to a 628 00:33:07,080 --> 00:33:09,800 conversation with with Sergito about me bits and that tease 629 00:33:09,800 --> 00:33:13,160 here in a in a few minutes. But I'm curious, any big macro 630 00:33:13,160 --> 00:33:16,200 topics that jumped out to you from the day we had the Sailor 631 00:33:16,200 --> 00:33:19,360 news? Yeah, the selling new thing is 632 00:33:19,400 --> 00:33:22,960 the big one, like the fact that he says it's going to be debt as 633 00:33:22,960 --> 00:33:25,120 well. So is it debt or is it not? 634 00:33:25,120 --> 00:33:26,680 Because like, that's what's confusing to me. 635 00:33:26,680 --> 00:33:30,560 Have you had a chance to dig in? I just read what he wrote, which 636 00:33:30,560 --> 00:33:34,280 is 42 billion of equity, 42 billion of fixed income, right? 637 00:33:35,760 --> 00:33:40,360 That's what he wrote. The I mean Sailor is a is from a 638 00:33:40,360 --> 00:33:42,760 financial background like I would assume he means 82 639 00:33:42,760 --> 00:33:44,800 billion. Those are not the two, they are 640 00:33:44,800 --> 00:33:47,560 not the two same things. Even if you were to say it like 641 00:33:47,560 --> 00:33:49,560 that for convert, it wouldn't make sense. 642 00:33:51,520 --> 00:33:55,120 So I don't know. But if it's fixed income as debt 643 00:33:55,600 --> 00:33:59,400 and that that would worry me. Yeah. 644 00:33:59,400 --> 00:34:01,720 As it says in October, the company in October they said 645 00:34:01,720 --> 00:34:04,000 they plan to raise 42 and he's saying he's doubling it. 646 00:34:04,560 --> 00:34:09,840 So he is saying it's. So again, if your friend said 647 00:34:09,840 --> 00:34:15,679 I'm going to raise $42 billion of debt to buy Bitcoin, would 648 00:34:15,679 --> 00:34:17,600 you tell him that's a good idea or not? 649 00:34:19,080 --> 00:34:22,440 He already, he still has. I was just writing this up the 650 00:34:22,440 --> 00:34:24,639 other day. He still has like 20 billion 651 00:34:25,000 --> 00:34:30,880 worth of the strike or STRK stuff in allowance and issuance 652 00:34:30,880 --> 00:34:34,159 as well. So there's ammo there. 653 00:34:36,080 --> 00:34:37,639 Right. But like, there's ammo. 654 00:34:38,159 --> 00:34:40,880 He fired a shelf. It's like if I fired a shelf, I 655 00:34:40,880 --> 00:34:44,600 want to raise 2020, $1 billion. He just said that like we may do 656 00:34:44,600 --> 00:34:46,560 this. So it's not ammo unless the 657 00:34:46,560 --> 00:34:49,639 market actually wants to buy that security from him, right? 658 00:34:50,320 --> 00:34:53,400 Right. So, yeah, he has some, he has 659 00:34:53,400 --> 00:34:59,120 some ammo on the shelf that he's filed for, but who knows, Like, 660 00:34:59,480 --> 00:35:01,920 and I continue to think that if he wants, if he, if he wants to 661 00:35:01,920 --> 00:35:06,800 raise $82 billion to buy Bitcoin, I think he's going to 662 00:35:06,800 --> 00:35:09,400 need to raise debt. I don't think equity holder is 663 00:35:09,400 --> 00:35:11,360 going to give him $82 billion to buy Bitcoin. 664 00:35:13,040 --> 00:35:15,320 And that's what raised, and that's where this gets riskier. 665 00:35:16,520 --> 00:35:18,520 Yeah. I continue to think that that 666 00:35:18,520 --> 00:35:23,160 that adds an element of liquidation risk to what he's 667 00:35:23,160 --> 00:35:25,440 going to do. Like if I was a micro strategy 668 00:35:25,440 --> 00:35:27,960 equity holder, I would just tell him to stop. 669 00:35:28,040 --> 00:35:30,440 I've said this so many times, he's got enough. 670 00:35:30,840 --> 00:35:33,440 The benefit for you of him continuing to do this, I think 671 00:35:33,440 --> 00:35:35,400 is very limited. It's very marginal at this 672 00:35:35,400 --> 00:35:38,440 stage. And I think he just wants to buy 673 00:35:38,440 --> 00:35:40,960 as much Bitcoin as he had. It's like, it's like one man's 674 00:35:40,960 --> 00:35:43,440 maniacal dream to buy, own as much Bitcoin. 675 00:35:44,040 --> 00:35:48,080 And if you want to buy $82 billion of Bitcoin, you know, 676 00:35:48,080 --> 00:35:50,960 there's a chance that like at some stage if Bitcoin was to 677 00:35:50,960 --> 00:35:56,880 drop 50% and he has fixed income securities with maturities 678 00:35:56,880 --> 00:36:02,040 around them or or covenant or whatever like that, this could 679 00:36:02,040 --> 00:36:04,120 get nasty. I mean, so you 2 will know this 680 00:36:04,880 --> 00:36:08,080 very, very well. I believe he's AB rated credit 681 00:36:08,080 --> 00:36:13,280 already micro strategy, I think maybe B plus or B minus. 682 00:36:13,280 --> 00:36:19,040 But but if he was to raise $42 billion of debt, this is going 683 00:36:19,040 --> 00:36:23,040 to be like triple C all over it. And, and triple C would be a 684 00:36:23,040 --> 00:36:26,120 high, you know, debt markets would assume that he there's a 685 00:36:26,120 --> 00:36:27,360 good chance that he would get liquid in. 686 00:36:28,560 --> 00:36:31,280 Is it like probably like a 14 percent, 16%? 687 00:36:31,560 --> 00:36:33,320 Right. This is what I mean. 688 00:36:33,320 --> 00:36:37,080 It's like this could get nasty if he wants to try and do that. 689 00:36:37,080 --> 00:36:40,400 So I like, I like Sailor. I think he's played a blinder. 690 00:36:40,560 --> 00:36:42,240 I think he should stop. Yeah. 691 00:36:43,200 --> 00:36:44,760 Yeah, I think it very, very fair. 692 00:36:44,800 --> 00:36:49,560 And I'll continue just to point in on this like when you read 693 00:36:49,560 --> 00:36:52,400 the article that he shares in the tweet, he says 442,000,000 694 00:36:52,400 --> 00:36:54,640 in fixed income. So debt you're spot on. 695 00:36:54,960 --> 00:36:57,280 But for whatever reason in their, their report, there is no 696 00:36:57,280 --> 00:36:59,880 mention of that. And then like in, in their 697 00:36:59,880 --> 00:37:03,680 summary, they only point to the common, the equity offering, 698 00:37:04,080 --> 00:37:06,400 which is the, the safer piece of this. 699 00:37:06,400 --> 00:37:10,320 So maybe it's something he's going to keep up his sleeve. 700 00:37:10,320 --> 00:37:13,400 I think our, our best hope is that he's he's going to keep it 701 00:37:13,400 --> 00:37:16,080 up his sleeve as a potential option, but he doesn't execute 702 00:37:16,080 --> 00:37:19,760 it, I guess, and just continues to, to, to, to go the the 703 00:37:19,760 --> 00:37:21,840 equity. Offering if he buys with equity 704 00:37:21,920 --> 00:37:23,240 I don't care. Like keep doing it. 705 00:37:23,240 --> 00:37:27,960 It's just an ETF and and yeah, it trades with a premium. 706 00:37:27,960 --> 00:37:30,480 If I was an equity holder, because it's trades at a premium 707 00:37:30,480 --> 00:37:32,040 right now, I might not be that happy about it because you're 708 00:37:32,040 --> 00:37:33,840 going to keep on diluting that premium. 709 00:37:34,840 --> 00:37:37,000 But but if you advise it with debt, I think everyone should 710 00:37:37,000 --> 00:37:40,360 worry. Very fair. 711 00:37:40,360 --> 00:37:43,000 Well, well, folks, we're going to get to our conversation with 712 00:37:43,000 --> 00:37:45,000 Sergito. The code for today for those 713 00:37:45,000 --> 00:37:48,720 heat spins is boop. Rafflebot code is boop. 714 00:37:48,720 --> 00:37:51,120 So we'll get to those probably here in about 10-15 minutes. 715 00:37:51,680 --> 00:37:53,680 Well, Sergito, one of the reasons we wanted to be coming 716 00:37:53,680 --> 00:37:55,760 on the macro conversation was, was fantastic for. 717 00:37:55,960 --> 00:37:58,200 So thanks for jumping in on that. 718 00:37:58,800 --> 00:38:01,000 I feel like there's been some, some big news in the me bit 719 00:38:01,000 --> 00:38:02,440 streets. Before we get into the, the, the 720 00:38:02,440 --> 00:38:04,320 breaking news though, let's maybe this is our first chance 721 00:38:04,320 --> 00:38:08,160 that we've had to, to really talk at least on air since the, 722 00:38:08,560 --> 00:38:10,840 the, the takeover since the, the acquisition. 723 00:38:11,360 --> 00:38:13,840 Oh man, 78 days ago on Valentine's Day. 724 00:38:14,160 --> 00:38:16,840 Wow, we're going to be getting your first 100 days here soon. 725 00:38:16,840 --> 00:38:19,720 Oh. God, I hope they're a little bit 726 00:38:19,720 --> 00:38:22,200 better than what we've seen somewhere else. 727 00:38:23,600 --> 00:38:26,040 Tell I'm sure you've said this a handful of times, but for some 728 00:38:26,040 --> 00:38:27,120 of our listeners, we haven't heard it. 729 00:38:27,160 --> 00:38:28,640 So why? Why'd you, why'd you want to 730 00:38:28,640 --> 00:38:30,920 take over me bits? Two reasons. 731 00:38:30,920 --> 00:38:33,880 First of all, I asked everybody who's followed me on Mock Me for 732 00:38:33,880 --> 00:38:37,160 liking me bits over every other collection and you're probably 733 00:38:37,160 --> 00:38:40,400 right investment wise over the last four years, you know, you 734 00:38:40,400 --> 00:38:41,760 were definitely right. Market wise. 735 00:38:42,480 --> 00:38:46,280 I love the ME bits. I think they are an incredible 736 00:38:46,320 --> 00:38:51,480 just body of artwork from the premier artists, you know, the 737 00:38:51,480 --> 00:38:56,440 legendary larva labs who kind of created this whole category, not 738 00:38:56,440 --> 00:39:02,680 once, just with punks spying the ERC 721 standard. 739 00:39:02,680 --> 00:39:06,440 Obviously almost every PFT collection is a derivative of 740 00:39:06,440 --> 00:39:08,760 punk trades. Or they did it again with 741 00:39:08,760 --> 00:39:11,440 Autoglyphs a few years later, which, you know, spawned the 742 00:39:11,440 --> 00:39:13,880 generative, you know, tokenized generative art movement. 743 00:39:14,240 --> 00:39:18,080 And obviously snow for a big early punk claimer always 744 00:39:18,080 --> 00:39:21,040 credits Larva Labs with inspiration for art blocks and 745 00:39:21,040 --> 00:39:22,120 everything that's come after that. 746 00:39:22,680 --> 00:39:25,520 So I think they did it again in 21 with Meebits. 747 00:39:25,520 --> 00:39:29,560 These are digital sculptures. They unlike every other 748 00:39:29,560 --> 00:39:32,600 collection from that year, there were just layers on like a 749 00:39:32,600 --> 00:39:35,280 Python script. The Mebits are created from 750 00:39:35,280 --> 00:39:39,040 voxels or the algorithm really had to work to put all the 751 00:39:39,040 --> 00:39:42,400 traits together and they include a lot of that technology that 752 00:39:42,440 --> 00:39:45,760 and and concepts that develop for punks and cliffs into this. 753 00:39:45,800 --> 00:39:48,400 For example, there on screen you have a couple of medias wearing 754 00:39:48,400 --> 00:39:52,280 camel print pants. Now they use a generative 755 00:39:52,280 --> 00:39:56,680 algorithm to create the camel print so that No2 medias are 756 00:39:56,680 --> 00:39:59,640 wearing the exact same print when they're wearing camel. 757 00:40:00,480 --> 00:40:03,640 So every single camel you know trait is unique. 758 00:40:04,360 --> 00:40:06,840 You have stuff like, you know, the hoodie UPS that you have 759 00:40:06,840 --> 00:40:08,520 there on screen. One just traded this morning. 760 00:40:08,520 --> 00:40:11,960 I think it was that one obviously a nod to hoodie punks. 761 00:40:13,040 --> 00:40:16,800 And and it's just, you know, 20,000 little characters running 762 00:40:16,800 --> 00:40:19,480 around the metaverse. Their bet was that we will live 763 00:40:19,480 --> 00:40:23,080 in a digital future much more immersive, you know, spaces 764 00:40:23,080 --> 00:40:25,400 online. Obviously that has not really 765 00:40:25,400 --> 00:40:29,240 materialized. I do think we're going to get 766 00:40:29,240 --> 00:40:31,320 there. And so you know, these are you 767 00:40:31,320 --> 00:40:35,040 look at lava labs body of work. It's punks as kind of like their 768 00:40:35,040 --> 00:40:39,840 paintings, glyphs as their computer art and then meave it 769 00:40:39,920 --> 00:40:44,720 as their digital sculptures. And and punks are in museums. 770 00:40:44,720 --> 00:40:47,840 Obviously the you know, the Pompey do the ICA. 771 00:40:47,840 --> 00:40:51,080 The Toledo Museum just announced a new exposition coming up here 772 00:40:51,080 --> 00:40:53,400 in the next month or two with punks. 773 00:40:53,840 --> 00:40:56,880 Glyphs are at the Whitney. Glyphs are in other museums as 774 00:40:56,880 --> 00:40:59,800 well. And then I I would expect that 775 00:40:59,800 --> 00:41:03,760 given that legacy and and just to show the completeness of the 776 00:41:03,760 --> 00:41:07,520 body of work of of larval lapse themselves, me that's belong in 777 00:41:07,520 --> 00:41:09,320 that conversation. So one, I think they're 778 00:41:09,320 --> 00:41:10,800 incredibly cute. They're good looking. 779 00:41:10,800 --> 00:41:15,080 I love the human body that just you know, we're by nature very 780 00:41:15,080 --> 00:41:18,320 much in love with humanity. You look at art history 781 00:41:18,320 --> 00:41:20,760 throughout, you know, our whole existence. 782 00:41:20,760 --> 00:41:23,960 You know, the majority of the subjects of the piece of art are 783 00:41:23,960 --> 00:41:27,200 human bodies, human faces and so on, right from caveman all the 784 00:41:27,200 --> 00:41:30,120 way to to where we are today with like AI bots and the like. 785 00:41:30,400 --> 00:41:32,760 So that was kind of like the the why I love me bits. 786 00:41:33,760 --> 00:41:36,800 The reason why I decided to go ahead with with the transaction 787 00:41:36,800 --> 00:41:39,200 and putting, you know, the company together is just I think 788 00:41:39,200 --> 00:41:42,920 NFT network, NFT projects communities are incredible 789 00:41:42,920 --> 00:41:45,640 distribution networks, their next generation distribution 790 00:41:45,640 --> 00:41:47,880 network. We saw it with, you know, apes 791 00:41:47,920 --> 00:41:51,040 and Penguins and so many of the others where you have this 792 00:41:51,120 --> 00:41:56,040 global fanbase of people that are, you know, tech forward that 793 00:41:56,640 --> 00:41:59,560 are really looking to just kind of integrate this new technology 794 00:41:59,560 --> 00:42:01,600 into their lifestyle. I mean, we're all here on screen 795 00:42:01,680 --> 00:42:04,080 because of NFTS pretty much. I mean, I don't know your 796 00:42:04,080 --> 00:42:06,120 background, but I'm assuming it's around right there. 797 00:42:06,480 --> 00:42:09,040 Obviously, Amanda and I were both sitting on trading desks at 798 00:42:09,040 --> 00:42:11,360 Barclays, and we're now here because of NFTS. 799 00:42:12,160 --> 00:42:14,440 And Tyler, you know, you're also here because of NFTS. 800 00:42:14,440 --> 00:42:19,080 And so I think that there's an incredible opportunity to really 801 00:42:19,080 --> 00:42:23,080 take this, you know, properties and bootstrap them to create 802 00:42:23,200 --> 00:42:25,640 incredible distribution network companies. 803 00:42:26,360 --> 00:42:28,920 And I'm not talking about selling hoodies and hats and so 804 00:42:28,920 --> 00:42:32,440 on, but really being able to innovate with like new types of 805 00:42:32,440 --> 00:42:35,280 financial products and so on. And so for me, it was the 806 00:42:35,280 --> 00:42:38,280 perfect marriage between a community, a project that I 807 00:42:38,280 --> 00:42:41,360 adore that I think has really high intrinsic value because of 808 00:42:41,360 --> 00:42:44,960 the artists and the provenance, but also, you know, 20,000 809 00:42:45,200 --> 00:42:48,600 tokens out there with an engaged, you know, fanbase. 810 00:42:48,600 --> 00:42:51,320 We have 6400 wallets that hold them and it'll be some of the 811 00:42:51,320 --> 00:42:54,040 largest names in the space, have a ton of mediates. 812 00:42:54,040 --> 00:42:58,160 You know, Snow Fro being the largest meat collector that has 813 00:42:58,400 --> 00:43:00,320 one of every single type of meat. 814 00:43:00,320 --> 00:43:02,000 It's only one only collection in the world. 815 00:43:02,000 --> 00:43:03,800 So a lot of people don't know that, but it's there. 816 00:43:03,800 --> 00:43:07,160 And I think people that understand Larba kind of have 817 00:43:07,160 --> 00:43:09,280 that same mentality. Just put the meat, it's away and 818 00:43:09,400 --> 00:43:11,920 one day we'll get there. And so so it was that combo and 819 00:43:11,920 --> 00:43:13,280 then the opportunity came about too, right? 820 00:43:13,280 --> 00:43:15,480 Like there's a lot of things that we want to do, but you 821 00:43:15,480 --> 00:43:16,800 know, sometimes it's not possible. 822 00:43:16,800 --> 00:43:19,280 But the opportunity came about in December and so I jumped on 823 00:43:19,280 --> 00:43:22,120 it. Well, we we're happy that that 824 00:43:22,120 --> 00:43:24,760 you jumped on it and people may not notice. 825 00:43:24,760 --> 00:43:27,680 I have a long story history with me miss myself. 826 00:43:28,160 --> 00:43:32,880 I had quite the collection back in 2021 and a nice nice hoodies 827 00:43:32,880 --> 00:43:37,120 suits pig. No, no elephants or aliens. 828 00:43:37,880 --> 00:43:40,760 Collection has dwindled since then, but I'll be making my 829 00:43:40,760 --> 00:43:44,600 trumpet return, don't worry. Next question Sergito. 830 00:43:44,600 --> 00:43:47,160 So you bought or you acquired the project? 831 00:43:47,160 --> 00:43:49,240 What's the the 1st 90 day plan like? 832 00:43:49,240 --> 00:43:51,040 What are you focused on out of the gate? 833 00:43:51,640 --> 00:43:55,640 Yeah, so we we published, you know, our four pillar plan, you 834 00:43:55,640 --> 00:43:59,200 know, very innovative name. It's just four things that the 835 00:43:59,200 --> 00:44:00,720 company, it's four of us in the company. 836 00:44:00,720 --> 00:44:04,280 It's myself, it's Bailey who's our creative director, Token 837 00:44:04,280 --> 00:44:07,160 Jogler, who's our head of tech and then Bojangle guys, our head 838 00:44:07,160 --> 00:44:10,440 of community and OPS, all very much entrenched community 839 00:44:10,440 --> 00:44:14,520 members since day one. And and we've just been obsessed 840 00:44:14,520 --> 00:44:16,680 with needed. So we're just doing right now 841 00:44:16,680 --> 00:44:20,720 what you know, we hoped Mevitz would have done in the past. 842 00:44:20,720 --> 00:44:24,680 And no shame to you. I was one of our partners on the 843 00:44:24,680 --> 00:44:27,440 cap table to meet the company. I think they had very ambitious 844 00:44:27,440 --> 00:44:30,360 plans for a lot of the things they wanted to do in 22 and the 845 00:44:30,360 --> 00:44:33,240 market turned on them. And so obviously you're a 846 00:44:33,240 --> 00:44:36,640 company, you have to survive the bandwidth and resourcing, you 847 00:44:36,640 --> 00:44:39,040 know, had to be focused on, on their main properties, which is 848 00:44:39,040 --> 00:44:41,440 board aid on the other side and supporting aid chain. 849 00:44:42,080 --> 00:44:45,640 But for us, it's just stuff like, like I said, 4 pillars, 850 00:44:45,680 --> 00:44:48,440 the first one's art and Providence really bringing to 851 00:44:48,440 --> 00:44:51,000 surface that incredible background that Meetbits have. 852 00:44:51,000 --> 00:44:54,800 You know, we're doing a birthday celebration with Fellowship and 853 00:44:54,800 --> 00:44:57,280 NOPAR. It's the 4th anniversary of 854 00:44:57,280 --> 00:45:00,000 Meetbits tomorrow. So be on the lookout for that. 855 00:45:00,520 --> 00:45:03,560 We're going to continue to just push on supporting artists with 856 00:45:03,560 --> 00:45:05,360 collection. Again, incredible distribution 857 00:45:05,360 --> 00:45:07,560 network. How do we use that to help 858 00:45:07,600 --> 00:45:10,400 emerging artists reach new collectors? 859 00:45:11,200 --> 00:45:14,800 The second thing is fun utility. Looking at what projects did 860 00:45:14,800 --> 00:45:17,680 really well and maybe not so well over the last four years, 861 00:45:17,920 --> 00:45:22,160 taking the best of that and using it to make holding a move 862 00:45:22,160 --> 00:45:24,440 it just a fun experience. Maybe you're in it for the art, 863 00:45:24,440 --> 00:45:26,560 but you also want to have fun. You want to have online 864 00:45:26,560 --> 00:45:29,080 activations, you want to have physical activations, you'll 865 00:45:29,080 --> 00:45:31,560 have cool merch. So we did an integration with 866 00:45:31,560 --> 00:45:34,240 Player 0, which will launch on May 5th. 867 00:45:34,240 --> 00:45:37,800 That's Monday, where all 20,000 move it will be integrated to 868 00:45:37,800 --> 00:45:41,480 all the Player 0 games. So for the first time ever, you 869 00:45:41,480 --> 00:45:43,960 know that kind of like dream that we all had in 21 of buying 870 00:45:43,960 --> 00:45:46,400 an NFT and being able to use it in a game. 871 00:45:47,000 --> 00:45:49,480 That's happening with Mevit and Player 0 on Monday. 872 00:45:49,480 --> 00:45:52,280 So you connect your wallet and you have your Mevit available to 873 00:45:52,280 --> 00:45:53,680 be played. They have like 4 or five games 874 00:45:53,680 --> 00:45:55,480 right now. And there's a lot more games 875 00:45:55,480 --> 00:45:58,040 coming on the pipeline. So it's really, really cool that 876 00:45:58,040 --> 00:46:00,840 we're able to deliver that as far as our fun utility pillar 877 00:46:00,840 --> 00:46:04,400 here within the 1st 100 days. The next one is tech innovation. 878 00:46:05,040 --> 00:46:09,000 Obviously, you know, crypto, NFTS, blockchain, it's all 879 00:46:09,000 --> 00:46:11,040 frontier tech. We're the bleeding edge of it 880 00:46:11,040 --> 00:46:14,440 and we want to continue pushing. It's also a nod to the 881 00:46:14,440 --> 00:46:17,120 provenance of larval apps. Obviously, Matt and John, even 882 00:46:17,120 --> 00:46:20,160 before NFTS, right, they were like Google and Android 883 00:46:20,160 --> 00:46:23,120 developers are always pushing the envelope with what could be 884 00:46:23,120 --> 00:46:25,320 done with technology. And so we want need it to be a 885 00:46:25,320 --> 00:46:27,520 conduit for that. So we announced a really cool 886 00:46:27,520 --> 00:46:31,640 partnership with Think Agents. They're going to be using need 887 00:46:31,640 --> 00:46:34,840 it as like the body of your AI agent. 888 00:46:35,000 --> 00:46:38,280 We provided 10 me bits that can be used, the models of the user 889 00:46:38,280 --> 00:46:42,160 hours that can be used for people to, you know, talk to to 890 00:46:42,160 --> 00:46:44,320 their agent. And if you have a me bit, 891 00:46:44,440 --> 00:46:46,960 connect your wallet and then you can interact directly with it, 892 00:46:46,960 --> 00:46:48,360 which I think it's really, really cool. 893 00:46:48,880 --> 00:46:51,040 And we have a couple of other things coming on the AI front. 894 00:46:51,120 --> 00:46:54,080 Then lastly, the last pillar is community first, as I mentioned 895 00:46:54,080 --> 00:46:57,960 before, the four of us, big members of the community, we 896 00:46:57,960 --> 00:46:59,760 want to be there. We want to help, you know, build 897 00:46:59,760 --> 00:47:02,600 together, win together, supporting people that want to 898 00:47:02,600 --> 00:47:06,080 build their amoebits artist, whether that's like creators, we 899 00:47:06,080 --> 00:47:09,280 have windows, a punk as well, create this incredible app 900 00:47:09,280 --> 00:47:11,400 called Meepcamp. So it's meep.com. 901 00:47:12,200 --> 00:47:14,480 It's a progressive web app. You can just access it on your 902 00:47:14,480 --> 00:47:16,440 phone and you can make GIFs with your Meebid. 903 00:47:16,440 --> 00:47:17,920 You can make videos with your Meebid. 904 00:47:17,920 --> 00:47:19,960 My nieces, they have amoebid each. 905 00:47:20,640 --> 00:47:24,120 They love playing with it. They always want to get on the 906 00:47:24,160 --> 00:47:26,480 iPad and play with them even. And so stuff like that just 907 00:47:26,480 --> 00:47:29,120 really, you know, building for the community because that's 908 00:47:29,120 --> 00:47:32,600 what we're here for. I like the sounds of the plan 909 00:47:32,640 --> 00:47:37,200 and you clearly have been busy and fast to work, so I'd love 910 00:47:37,200 --> 00:47:41,200 seeing all these updates start to come out, maybe just a minute 911 00:47:41,200 --> 00:47:43,520 or two left because I know we got to get to our eat spins 912 00:47:44,080 --> 00:47:45,960 before we wrap things up. But how are you feeling about 913 00:47:45,960 --> 00:47:51,280 the broader MFT market seeing some signs of life, but then 914 00:47:51,280 --> 00:47:53,760 there's there's also been like has it been token driven? 915 00:47:54,160 --> 00:47:56,480 So kind of how are you feeling about the broader market here? 916 00:47:56,600 --> 00:47:58,600 I'm I'm feeling good. I think obviously we had, you 917 00:47:58,600 --> 00:48:04,000 know, big art sales recently. I think people try to pretend 918 00:48:04,000 --> 00:48:06,680 that technology is going to strip away human nature when 919 00:48:06,680 --> 00:48:10,800 reality, what technology does actually enhances human nature, 920 00:48:11,120 --> 00:48:13,720 right? So greed, fear, power loss, all 921 00:48:13,720 --> 00:48:15,600 of that is enhanced by technology. 922 00:48:16,280 --> 00:48:18,960 So technology is a great democratizer, but doesn't change 923 00:48:18,960 --> 00:48:22,000 the way who we are. And so, yeah, we'll continue to 924 00:48:22,000 --> 00:48:24,880 see, you know, top parties continue to have top sales, top 925 00:48:24,880 --> 00:48:28,000 projects continue to evolve. And then, you know, some of the 926 00:48:28,000 --> 00:48:29,920 tales should really start to dwindle. 927 00:48:29,920 --> 00:48:33,200 But I think it's a good time to build for NFTS, especially with 928 00:48:33,200 --> 00:48:36,760 Disney Rainier interest from the Ethereum Foundation to make the 929 00:48:36,960 --> 00:48:39,800 the, the chain more UX friendly, more consumer friendly. 930 00:48:40,640 --> 00:48:43,280 You know, it's no secret, as much as I love a couple of the 931 00:48:43,280 --> 00:48:46,960 NFT communities that I am part of in Solana, you know, they 932 00:48:46,960 --> 00:48:51,080 never really hit the prominence that NFT communities on ETH hit, 933 00:48:51,120 --> 00:48:54,720 even while Solana was, you know, much higher last year. 934 00:48:55,280 --> 00:48:56,920 And I'm a problematic lad. I have three of them. 935 00:48:56,920 --> 00:48:58,800 I love them. I love that community, but they 936 00:48:58,800 --> 00:49:02,360 never were able to like step outside that little bubble, 937 00:49:02,880 --> 00:49:05,480 whereas ETH projects and ETH artists have. 938 00:49:05,840 --> 00:49:10,040 So I think again, cyclical, you know, it's frontier tech, but 939 00:49:10,560 --> 00:49:13,080 as, as as long as people continue to innovate and we have 940 00:49:13,080 --> 00:49:16,120 founders and leaders and collectors and community members 941 00:49:16,120 --> 00:49:18,880 who want to push them to look forward, I think we'll be fine. 942 00:49:18,880 --> 00:49:20,880 And it just, you know, as long as people don't like also get 943 00:49:20,880 --> 00:49:23,560 over their skis, right? Don't spend like half $1,000,000 944 00:49:23,560 --> 00:49:27,080 on a JPG just because you think you can sell for 750,000 in a 945 00:49:27,080 --> 00:49:28,880 month. We'll be fine. 946 00:49:28,960 --> 00:49:31,640 Be more like Mando. Buy them for $400.00 and sell 947 00:49:31,640 --> 00:49:33,440 them for $400 million three years later. 948 00:49:33,920 --> 00:49:36,520 That's a better. That's a better return right 949 00:49:36,520 --> 00:49:38,720 there. Final question, I'd love to talk 950 00:49:38,720 --> 00:49:41,280 about the Bitcoin punk spread on this show. 951 00:49:42,320 --> 00:49:45,000 Bitcoin punk spread. Everyone right now, which is 952 00:49:45,000 --> 00:49:47,240 going to outperform for the rest of this year. 953 00:49:48,000 --> 00:49:50,120 I think for the rest of the year you're going to see punks 954 00:49:50,120 --> 00:49:53,280 outperform. Yeah, yeah, yeah. 955 00:49:53,280 --> 00:49:55,160 At the end of the day, we just talked about how arts just 956 00:49:55,160 --> 00:49:56,960 started to heat up. Obviously punks have been on a 957 00:49:56,960 --> 00:50:00,480 heater recently in ether terms, but not really in dollar terms 958 00:50:00,480 --> 00:50:04,640 because ether performs. I think the long term base price 959 00:50:04,640 --> 00:50:08,200 for punks is like $70,000 and we're, you know, just right 960 00:50:08,200 --> 00:50:10,960 about there. So, so I would expect punks to, 961 00:50:11,040 --> 00:50:13,200 you know, like triple from here to your end. 962 00:50:13,800 --> 00:50:16,680 There's only 10,000 of them and all you need is somebody to come 963 00:50:16,680 --> 00:50:20,000 in like what happened in 21. You want to deploy a couple 964 00:50:20,000 --> 00:50:23,200 $1,000,000, which is nothing in the greater scheme of things. 965 00:50:24,160 --> 00:50:26,520 And the thesis of, you know, people make money in Krypton by 966 00:50:26,520 --> 00:50:30,080 a punk continues to play out. You know, I handle the, I, the 967 00:50:30,160 --> 00:50:33,480 admin for the punk community on Telegram. 968 00:50:34,120 --> 00:50:37,280 I mean, you bought a punk after having an incredible run with 969 00:50:37,280 --> 00:50:39,160 coins over the last, you know, year. 970 00:50:39,160 --> 00:50:42,640 And so those punks are being put away and, and they're not going 971 00:50:42,640 --> 00:50:44,840 back to market. So, so yeah, there's a lot more 972 00:50:44,840 --> 00:50:47,560 convexity to punks than there is to Bitcoin. 973 00:50:47,640 --> 00:50:50,280 And and I like them both, but I I think punks outperform. 974 00:50:51,400 --> 00:50:54,760 Oh, I like that, as someone who's been trying to tout the 975 00:50:54,760 --> 00:50:56,680 punk side of that ratio for a while. 976 00:50:56,680 --> 00:50:59,640 We're down about 20%, but still a lot of time on the clock. 977 00:51:00,400 --> 00:51:03,160 Look at this board. This is the the thinnest of 50 I 978 00:51:03,160 --> 00:51:04,800 think I've ever. I mean, that's bad. 979 00:51:04,840 --> 00:51:08,160 Yeah, I haven't. Been looking the market too much 980 00:51:08,160 --> 00:51:10,520 lately, to be honest, because I've just been really busy with 981 00:51:10,520 --> 00:51:12,600 Nevis. But it used to be I wake up 982 00:51:12,600 --> 00:51:14,880 every day and check the I know Farrak and I, when we were like, 983 00:51:14,880 --> 00:51:17,040 you know, starting to talk about punks back in the day. 984 00:51:17,800 --> 00:51:19,640 Every single day I'll be checking the the market. 985 00:51:19,640 --> 00:51:21,960 And it's mostly like a discovery of like, oh, this is a really 986 00:51:21,960 --> 00:51:24,960 cool trade or a cool combination rather than the price. 987 00:51:25,680 --> 00:51:28,280 But yeah, it doesn't take long. They're great, You know, 988 00:51:28,280 --> 00:51:30,000 collateral. I borrow against some of my 989 00:51:30,000 --> 00:51:31,480 palms. Use that to buy Bitcoin. 990 00:51:31,480 --> 00:51:34,480 So I double. The double, you know, kind of 991 00:51:34,480 --> 00:51:37,720 like bet there, yeah. And it's a great community, as 992 00:51:37,720 --> 00:51:38,120 you've seen. Well. 993 00:51:39,520 --> 00:51:46,160 I appreciate your insights on NFTS, me bets, and macro of 994 00:51:46,160 --> 00:51:48,160 course. I guess just anything you want 995 00:51:48,160 --> 00:51:50,240 to leave our listeners with before we go to the eat spends. 996 00:51:50,240 --> 00:51:51,480 Anything they need to be looking out for? 997 00:51:52,280 --> 00:51:55,280 Yeah, no, I mean, obviously we'd love to have people come and 998 00:51:55,280 --> 00:51:56,600 just look at what we're doing with medias. 999 00:51:56,600 --> 00:51:58,760 If it resonates, you know, submit the, I'm happy to chat 1000 00:51:58,760 --> 00:52:01,960 through the plans. I think we have not had a lot of 1001 00:52:01,960 --> 00:52:04,120 the catalysts that other projects have had. 1002 00:52:04,640 --> 00:52:06,640 So I think even from that perspective, and though I'm not 1003 00:52:06,640 --> 00:52:09,800 advocating for a financial investment, I do think that, you 1004 00:52:09,840 --> 00:52:12,280 know, there's a lot to like when it comes to Nevis. 1005 00:52:12,280 --> 00:52:14,200 And now there's a fully dedicated team. 1006 00:52:14,480 --> 00:52:18,000 We have one confirmation, you know, there are investors, you 1007 00:52:18,000 --> 00:52:20,040 know, helping us push the space forward. 1008 00:52:20,040 --> 00:52:22,280 So I'm really excited for it. So well, welcome everybody. 1009 00:52:22,280 --> 00:52:24,120 Just to take a look. They're not the Mevis from 21 1010 00:52:24,120 --> 00:52:26,680 anymore. Is this a you know Mevis 2 point 1011 00:52:26,680 --> 00:52:29,280 O? Mevis 2 point O is a great way 1012 00:52:29,320 --> 00:52:30,400 to end it. Well, Sergio, it's great to 1013 00:52:30,440 --> 00:52:32,240 catch up. Thank you for having me.