Latest / The Paul Barron Crypto Show / Don't Panic! Crypto Bull-Run Continues?🚀 w/ Raoul Pal

Transcript

Don't Panic! Crypto Bull-Run Continues?🚀 w/ Raoul Pal · The Paul Barron Crypto Show

• 0:07
  Speaker 1: Let's get into it.
• 0:08
  Speaker 2: Today.
• 0:08
  Speaker 3: We're gonna take a look at potentially where the market
• 0:11
  Speaker 3: could rally into and what it's going to look like.
• 0:13
  Speaker 1: So we'll break it all down for you guys.
• 0:14
  Speaker 3: My name is Paul Barare, welcome back in the tech path.
• 0:17
  Speaker 3: I do want to thank our sponsor today. That's Coinbase.
• 0:19
  Speaker 3: If you guys are brand new to crypto, that's a
• 0:20
  Speaker 3: good place to start, so you can just visit coinbase
• 0:23
  Speaker 3: dot com. The future of money is here. You guys
• 0:25
  Speaker 3: can do this both from a personal account a business account.
• 0:29
  Speaker 3: Very easy to set up. You guys can use our
• 0:31
  Speaker 3: link down below. It does give you a little bit
• 0:33
  Speaker 3: of a reward to get started, up to two hundred
• 0:35
  Speaker 3: bucks in crypto to get moving.
• 0:37
  Speaker 1: Today, we've got a special guest.
• 0:39
  Speaker 3: You guys will recognize the name and the person of course,
• 0:42
  Speaker 3: that is mister Rowell Powell coming in from Real Vision.
• 0:45
  Speaker 2: Great to see you, Roll, Great to see Paul. Good
• 0:47
  Speaker 2: to be.
• 0:48
  Speaker 1: Yeah, excellent.
• 0:49
  Speaker 3: We're going to dive in a little bit of First
• 0:51
  Speaker 3: of all, let me kind of just let most of
• 0:53
  Speaker 3: our audience I think probably recognize you and probably follow
• 0:56
  Speaker 3: you quite a bit. But if you guys want to
• 0:57
  Speaker 3: pick up Roll you can catch them over on Twitter
• 0:59
  Speaker 3: right there, rold Gmi And of course if you've not
• 1:02
  Speaker 3: seen his business, Real Vision, go over to realvision dot com.
• 1:07
  Speaker 1: Check that out.
• 1:07
  Speaker 3: We'll leave a link down below if you want to
• 1:09
  Speaker 3: learn a little bit more about that. Let's get into
• 1:12
  Speaker 3: a little bit about what happened this weekend. Obviously we
• 1:15
  Speaker 3: saw an absolute implosion within the meme coin market, and
• 1:20
  Speaker 3: you look at where Argentina and Javier Mila of course
• 1:25
  Speaker 3: got involved in a little bit of a memecr coin drama.
• 1:29
  Speaker 3: First of all, what was your first thought of this?
• 1:31
  Speaker 3: Obviously this rides on Solana. People are somewhat almost getting
• 1:36
  Speaker 3: into hate rage with what's happening on Solana in general.
• 1:39
  Speaker 1: What's your opinion.
• 1:42
  Speaker 2: I kind of.
• 1:43
  Speaker 4: Knew this one was coming. We've heard rumors about it.
• 1:49
  Speaker 4: Dave Portnoy as well. It's just been this endless cycle
• 1:52
  Speaker 4: of people who were trying to capitalize in on this. Okay, fine,
• 1:57
  Speaker 4: The issue being is that everybody's getting destroyed by this.
• 2:03
  Speaker 4: So if we go back to mean coins nine months ago,
• 2:06
  Speaker 4: you could make some money. They would go from a
• 2:09
  Speaker 4: low market cap and then maybe they go to a
• 2:11
  Speaker 4: billion bucks and people had a real chance and then
• 2:16
  Speaker 4: more and more issuance came, and more and more kind
• 2:18
  Speaker 4: of insiders were part of it, and it just became
• 2:21
  Speaker 4: this endless slew of new issuance of which the people
• 2:24
  Speaker 4: will get out after day five and then day three,
• 2:26
  Speaker 4: and then day two, and then hour five and then
• 2:28
  Speaker 4: hour two and then hour one and then thirty seconds
• 2:31
  Speaker 4: after launch.
• 2:32
  Speaker 2: So they've got.
• 2:33
  Speaker 4: Faster and faster and faster and faster and more and
• 2:35
  Speaker 4: more and more of them. That what we've done is
• 2:38
  Speaker 4: a road all the opportunity out of the whole thing.
• 2:41
  Speaker 4: And maybe that's the good thing. Maybe we've actually finally
• 2:43
  Speaker 4: reached the bottom of this and some things, some memes
• 2:46
  Speaker 4: will survive, because memes survive all of humanity, So doses
• 2:51
  Speaker 4: lasted since twenty thirteen, some stuff will survive. But I
• 2:55
  Speaker 4: think what we've done is is hyper scaled this cycle,
• 2:58
  Speaker 4: destroyed all of the excess gains that were possible, and
• 3:02
  Speaker 4: that's hopefully the end of a lot of this and
• 3:05
  Speaker 4: we can then have a cleaner market.
• 3:07
  Speaker 3: Yeah, do you think role that people will kind of
• 3:10
  Speaker 3: reset and look at, you know, more of the blue
• 3:13
  Speaker 3: chip arcin group that mostly take up and have taken
• 3:17
  Speaker 3: up previous bull runs in the past, if you look
• 3:19
  Speaker 3: at the salonas of the world, even Cardono avalanche, even
• 3:23
  Speaker 3: if you look into scenarios like what we're seeing, was
• 3:25
  Speaker 3: Swee starting to make a move in this run. Do
• 3:27
  Speaker 3: you think that's what people will go back to or
• 3:30
  Speaker 3: do you think they are still looking for new stuff?
• 3:33
  Speaker 4: I think the difficult thing is most of these people
• 3:36
  Speaker 4: are not us. So these are younger people with no
• 3:40
  Speaker 4: chance of buying a property, yeah, who are seeing nothing
• 3:43
  Speaker 4: but sort of oblique financial feature of themselves. So it's
• 3:46
  Speaker 4: become this kind of financial nihilism, or to put it
• 3:49
  Speaker 4: in a more positive term, it's a more speculative economy
• 3:52
  Speaker 4: because there are opportunities there, and they need the opportunities
• 3:56
  Speaker 4: to leverage. So they we will always keep looking for
• 4:01
  Speaker 4: the fifty x, even though however often we tell them, listen,
• 4:05
  Speaker 4: there's no such thing as consistent fifty x returns. Really,
• 4:09
  Speaker 4: if you're owning bitcoin ethereum, solana suie whatever, you'll do fine.
• 4:14
  Speaker 4: But that's not good enough for them. To have another
• 4:17
  Speaker 4: five or ten X from there is not good enough
• 4:19
  Speaker 4: for them. So they they are looking for something. But
• 4:22
  Speaker 4: I think you're right. The sense is that they will
• 4:25
  Speaker 4: stop looking under this particular part. Yes, they might find
• 4:29
  Speaker 4: find memes, whether it's Pepe or whether it's doge or
• 4:31
  Speaker 4: whatever that survives and does well, But I'm not entirely
• 4:35
  Speaker 4: convinced that mean coins will be the great attraction any longer.
• 4:40
  Speaker 3: This was kind of a scenario that has been brewing,
• 4:43
  Speaker 3: I think for a while. We've obviously seen the acceleration
• 4:47
  Speaker 3: of it. Web three gaming might could have been compared
• 4:50
  Speaker 3: to it in the previous run. We saw a lot
• 4:52
  Speaker 3: of that around Metaverse and the launch of that, but
• 4:55
  Speaker 3: not near the kind of scenario that's played out in
• 4:58
  Speaker 3: terms of coin creation, which is a big problem that
• 5:01
  Speaker 3: you know everybody's talking about right now.
• 5:02
  Speaker 4: Though we did see it, to be fair, Paul, we
• 5:04
  Speaker 4: saw it in NFTs. Well that's what we had. Yeah,
• 5:08
  Speaker 4: we had this market of high end art that did
• 5:11
  Speaker 4: really well. Then the pfps and then there was millions
• 5:14
  Speaker 4: of pfps and the whole that went to zero. And
• 5:18
  Speaker 4: by the second cycle we can see that punks retain
• 5:20
  Speaker 4: value on board, aches retain value on pudgy penguins, but
• 5:23
  Speaker 4: a whole bunch of them don't. So I think it's
• 5:26
  Speaker 4: the right process that the creative destruction cycling crypto is
• 5:30
  Speaker 4: very fast and very brutal. And that's maybe a feature,
• 5:35
  Speaker 4: you know, bene feature, not a bug. That's right, it's
• 5:39
  Speaker 4: a feature, not a bug, I think probably.
• 5:40
  Speaker 3: Yeah, you've got a couple other things bring right now,
• 5:44
  Speaker 3: Avalanchez now flip Salona and were in terms of tokeni's
• 5:47
  Speaker 3: real world assets, this is including stable coins on the
• 5:51
  Speaker 3: ranking right there, and also the number of projects in
• 5:54
  Speaker 3: RDBAS that they've locked into. We've got some news breaking
• 5:58
  Speaker 3: maybe in the next few days that Avalanche has done
• 6:01
  Speaker 3: some more things around real world assets. But when you
• 6:04
  Speaker 3: look at RWA's in general and the potential for what
• 6:08
  Speaker 3: they can mean to the market, how big are they
• 6:12
  Speaker 3: in comparison to maybe you look at gaming in the
• 6:16
  Speaker 3: last run or even to a certain extent deep in
• 6:19
  Speaker 3: in what we've seen around gaming in general. Is this
• 6:22
  Speaker 3: an important category for you?
• 6:25
  Speaker 4: So it is a category. So how we create network
• 6:28
  Speaker 4: value is either by number of active users or it's
• 6:35
  Speaker 4: also the total value transacted on a particular chain. That
• 6:40
  Speaker 4: combination explains the value of these networks. So Bitcoin has
• 6:44
  Speaker 4: big size transactions and a lot of users, which is
• 6:46
  Speaker 4: why it's the most valuable. Eth has smaller size but
• 6:50
  Speaker 4: lots of users, and it all flows from that, so
• 6:54
  Speaker 4: real world assets outside of stable coins tend to be
• 6:59
  Speaker 4: larger single transactions. You know, if you're going to take
• 7:02
  Speaker 4: a slice of a bond, you know, or credits or
• 7:06
  Speaker 4: something like that, it tends to be you stick in
• 7:08
  Speaker 4: one hundred million dollars because you're a financial institution and
• 7:12
  Speaker 4: you don't do any more than that. So it's a
• 7:14
  Speaker 4: high value, but only one or a few nodes in
• 7:18
  Speaker 4: the network are using it, so yes, they're good, but
• 7:21
  Speaker 4: they're not everything, so they'd add value. Gaming, on the
• 7:24
  Speaker 4: other hand, much smaller values, gigantic volume size, so there
• 7:30
  Speaker 4: is a balance between all of this. Now, over time,
• 7:33
  Speaker 4: you know, we will see the entire financial.
• 7:36
  Speaker 2: System going to blockchain rails anyway.
• 7:38
  Speaker 4: So it's not just the totalization of real world assets
• 7:41
  Speaker 4: more so the hyper efficiency of putting equities, all bonds,
• 7:47
  Speaker 4: everything on chain as an instant settlement system, proof of ownership, custody.
• 7:51
  Speaker 4: You get rid of so many middle men. So that's
• 7:53
  Speaker 4: coming and those markets are trillions upon trillions of dollars.
• 7:58
  Speaker 4: So yeah, it is important. Gaming is important from another
• 8:02
  Speaker 4: perspective because that's one of the large communities of web two.
• 8:06
  Speaker 4: Social media being one, gaming being another, music being another.
• 8:10
  Speaker 4: Sports being another that will eventually my great across to
• 8:13
  Speaker 4: this world. And all of those come with like one
• 8:16
  Speaker 4: billion users plus. I mean, like you know, a big
• 8:19
  Speaker 4: game can have a billion users, a big pop star
• 8:23
  Speaker 4: has a billion fans, a big sports team has a
• 8:25
  Speaker 4: billion fans.
• 8:26
  Speaker 2: So these are very big things.
• 8:28
  Speaker 3: So if you're looking at R ANDBAS just in general,
• 8:31
  Speaker 3: especially around the stance of Solana and Avalanche, are you
• 8:34
  Speaker 3: picking one of those to be maybe one of the
• 8:37
  Speaker 3: market leaders.
• 8:39
  Speaker 4: No, I mean, I know John wolfrom Avalanche, Well, John's
• 8:41
  Speaker 4: come out of the traditional finance space, the hedge fund
• 8:43
  Speaker 4: space like myself. You know, they're very well positioned in
• 8:46
  Speaker 4: real world assets. They've been working on this for a
• 8:49
  Speaker 4: long time. But we've already seen Salana do some Ethan
• 8:53
  Speaker 4: will obviously do a lot because it's kind of the
• 8:55
  Speaker 4: proven one here. We know that Suey has been working
• 8:58
  Speaker 4: with Franklin Templeton, so I think it'll get spread across.
• 9:02
  Speaker 4: I actually think the real world asset majority will be
• 9:06
  Speaker 4: in the EVM system just because you don't get fired
• 9:09
  Speaker 4: for it, you know, you're not taking a risk. It's
• 9:11
  Speaker 4: like having Microsoft go into any bank, any asset management firm.
• 9:14
  Speaker 4: It's all Microsoft and not Apple, and the reason being
• 9:18
  Speaker 4: that's the easy decision to make. So Avalanche I think
• 9:22
  Speaker 4: will continue to do this. They're also they've got the
• 9:25
  Speaker 4: other side of it as well, because they've got gaming
• 9:26
  Speaker 4: as well, so they had the off the grid game
• 9:29
  Speaker 4: which is huge, which I think is very important.
• 9:33
  Speaker 1: Roll what do you make of the changes with Ethereum?
• 9:37
  Speaker 3: You look at the gas right now average gas price
• 9:40
  Speaker 3: probably the lowest I think maybe in a very very
• 9:43
  Speaker 3: long time. And you look at vitallic speed running a
• 9:47
  Speaker 3: lot of development, you know, to try to lower gas
• 9:50
  Speaker 3: in general, what.
• 9:52
  Speaker 1: Do you make of this?
• 9:53
  Speaker 3: Is it the right timing for Ethereum, especially in the
• 9:56
  Speaker 3: market conditions as we are now.
• 9:59
  Speaker 2: So my view is a theorem.
• 10:01
  Speaker 4: Have overbuilt block space for current demand, so we've had
• 10:05
  Speaker 4: layer twos. We've cheapened the layer one so it's not
• 10:08
  Speaker 4: occurring so much. Now, let's go to a forward for
• 10:11
  Speaker 4: a world where three billion people using blockchain and evms
• 10:14
  Speaker 4: capturing a large share. Right, it's now scaling massively because
• 10:18
  Speaker 4: of layer twos. It's then generating enough income on the
• 10:21
  Speaker 4: layer one that you're generating revenues across. We're just not
• 10:25
  Speaker 4: there yet, so we can argue all day about the
• 10:28
  Speaker 4: technicalities of what Vitallic and the Ethereum Foundation are doing.
• 10:32
  Speaker 4: The reality is is they're building something that's going to
• 10:35
  Speaker 4: be massively scalable in due course, and differently so than
• 10:39
  Speaker 4: some of the others like Solana.
• 10:41
  Speaker 2: So while.
• 10:44
  Speaker 4: It feels that ETH is struggling its non performance, it's
• 10:48
  Speaker 4: not great. My guess is by the time the financial
• 10:51
  Speaker 4: system steps in and starts building, and they start using
• 10:54
  Speaker 4: layer twos to build, and we start occurring value in
• 10:57
  Speaker 4: the layer ones using these reduced fees but much higher
• 11:01
  Speaker 4: volumes because they're coming through from the layer two's.
• 11:04
  Speaker 2: I think it all work out fine.
• 11:06
  Speaker 1: And you look at you know where ETH is right now.
• 11:10
  Speaker 3: I know many people would probably say, well, they were
• 11:12
  Speaker 3: a little bit late to the AI game, but I
• 11:14
  Speaker 3: was looking at one of their youtubes. This is in reference.
• 11:17
  Speaker 3: I'll kind of zoom in on this for you. This
• 11:19
  Speaker 3: is a gentic ethereum and these are all the different
• 11:21
  Speaker 3: projects that have rolled out on this. I know your
• 11:24
  Speaker 3: position on AI agents is a little bit maybe contrarian.
• 11:30
  Speaker 3: How would you position that if you if you look
• 11:32
  Speaker 3: at it on eight, would you still say a little
• 11:35
  Speaker 3: less opportunity or a lot opportunity in the way.
• 11:38
  Speaker 4: In the short term, what has been launched is basically
• 11:43
  Speaker 4: testing or testing of ideas and really chat GBT rappers
• 11:50
  Speaker 4: plus re wrapped telegram bots not that interesting. But obviously
• 11:57
  Speaker 4: Brian Armstrong was out on the tape again talking about
• 11:59
  Speaker 4: this today is agents are going to use crypto payment rails.
• 12:03
  Speaker 2: You need to pay an agent.
• 12:04
  Speaker 4: If you think of an agent like somebody on fiver
• 12:07
  Speaker 4: you go to to make a deck for you or
• 12:10
  Speaker 4: whatever it is, right, you have to pay them for
• 12:12
  Speaker 4: their time and including their time as their profit margin
• 12:15
  Speaker 4: for their light and rent and living and stuff like that.
• 12:18
  Speaker 4: With agents, you're going to pay for the compute, and
• 12:22
  Speaker 4: you're gonna pay for the electricity, yeah, and then maybe
• 12:25
  Speaker 4: a profit margin if it's a private agent. So that
• 12:29
  Speaker 4: really can d of get done in crypto rails because
• 12:31
  Speaker 4: if you look at the speed of how chat GPT
• 12:33
  Speaker 4: does these things or any of these ais, it's instantaneously
• 12:37
  Speaker 4: they'll get you know, we'll see it coming out soon
• 12:40
  Speaker 4: where we will be using ten twenty thirty different agents
• 12:44
  Speaker 4: to do a simple task like booking an airline ticket
• 12:46
  Speaker 4: right that actually has a lot of stops and booking
• 12:48
  Speaker 4: your uber to the airport. All of that stuff, So
• 12:51
  Speaker 4: there'll be payments for all of this. I think EVM
• 12:55
  Speaker 4: will do fine for payments on this stuff on the
• 13:00
  Speaker 4: layer two or something because it needs to be performance,
• 13:03
  Speaker 4: it needs to be fast cheap. So yes, Look, the
• 13:06
  Speaker 4: longer terms is a very very very big deal.
• 13:09
  Speaker 2: You know that there's only eight billion humans.
• 13:11
  Speaker 4: There's infinite AIS and infinite AI is using infinite blockchain
• 13:14
  Speaker 4: wallets equals you know, infinite market cap of crypto over time.
• 13:19
  Speaker 3: Let's jump over to what's happening with DOGE and the
• 13:24
  Speaker 3: US government, what's happening with elon. Obviously we've seen the
• 13:28
  Speaker 3: performance so far. You look at the looming shutdown coming
• 13:32
  Speaker 3: up here in March. Is this something that we should
• 13:35
  Speaker 3: be worried about in the crypto market or is this
• 13:37
  Speaker 3: kind of a non starter.
• 13:39
  Speaker 4: It's a non startup because as we all know, the
• 13:43
  Speaker 4: US has trillions upon trillions of debt to rollover, as
• 13:47
  Speaker 4: to the Chinese, as to the Japanese, as the Europeans,
• 13:50
  Speaker 4: as of the British, as are the Canadians, and they're
• 13:53
  Speaker 4: going to have to bring rates lower and increased liquidity
• 13:55
  Speaker 4: to do it right. And everybody knows liquidity is actually
• 13:59
  Speaker 4: the low driver of asso prices. So if we have
• 14:03
  Speaker 4: a government shut down, we will use what's known as
• 14:05
  Speaker 4: the Treasury General Account, which is the US government checking account.
• 14:08
  Speaker 2: And we will drain that.
• 14:10
  Speaker 4: Now there's eight hundred billion dollars in that, so there's
• 14:13
  Speaker 4: plenty of liquidity to start with, and then if they
• 14:16
  Speaker 4: run out of that, there's plenty of other forms of liquidity.
• 14:20
  Speaker 4: So I think that over time. Yes, Elon is trying
• 14:24
  Speaker 4: to stall payments. You know, they've laid people off, they
• 14:26
  Speaker 4: put people on freezers, all of this stuff, so you'll
• 14:29
  Speaker 4: have less deficit spending. Okay, great, but we still have
• 14:33
  Speaker 4: all the existing debt to roll. So what we so
• 14:36
  Speaker 4: what we have to do is roll that. So liquidity
• 14:39
  Speaker 4: has to come. So it's a good thing to do
• 14:42
  Speaker 4: what they're trying to do. We can argue all day
• 14:45
  Speaker 4: whether they're doing it in the right way, into the
• 14:46
  Speaker 4: right things and whatever, but generally speaking, to be braver
• 14:50
  Speaker 4: in how you lower government spending when you've got this
• 14:53
  Speaker 4: much debt is an intelligent thing to do. I don't
• 14:56
  Speaker 4: believe there's a debt crisis that comes. I just believe
• 14:59
  Speaker 4: it just gets monetized. And so as opposed to hold
• 15:02
  Speaker 4: debt blow up where everything goes down ninety percent. We
• 15:05
  Speaker 4: go from a debasement of money of eight percent a
• 15:07
  Speaker 4: year to a debasement of twelve or fourteen percent a year,
• 15:11
  Speaker 4: and that's pretty ugly.
• 15:13
  Speaker 3: Yeah, Okay, So when you look at the scenarios that
• 15:18
  Speaker 3: are playing out right now in DC, and many would say, well,
• 15:21
  Speaker 3: you know, dose is really starting to dig into some
• 15:24
  Speaker 3: issues that may affect financial markets. The SEC is one.
• 15:27
  Speaker 3: They're talking about doing an audit to the SEC. If
• 15:31
  Speaker 3: they were to find something bad, as they have found
• 15:35
  Speaker 3: in some other agencies within the government, would that in itself.
• 15:39
  Speaker 1: Be good for crypto?
• 15:40
  Speaker 3: Would that be one of those things the whole you know,
• 15:42
  Speaker 3: fin system is broken and we need to kind of reset.
• 15:46
  Speaker 3: What are your thoughts there of how much this it's already.
• 15:49
  Speaker 1: Speak, do we really want to know?
• 15:51
  Speaker 2: Look what we might not want to know it's people
• 15:54
  Speaker 2: because it's ugly.
• 15:56
  Speaker 4: Yeah, but if we're participants in crypto markets, we this
• 16:00
  Speaker 4: parallel financial system. I've been in this space it's twenty thirteen.
• 16:04
  Speaker 4: Pushing this narrative forward is this is a parallel system
• 16:07
  Speaker 4: that solves a lot.
• 16:08
  Speaker 2: Of the issues that we've got.
• 16:10
  Speaker 4: So we get a immutable source of truth for all
• 16:14
  Speaker 4: forms of information, whether it's the government finances or who
• 16:19
  Speaker 4: owns the security, whatever it may be. And so it
• 16:23
  Speaker 4: is obvious that a source of a mutable truth is
• 16:27
  Speaker 4: better than a concealed lie driven by a bureaucratic machine
• 16:33
  Speaker 4: of the government. So I think over time it can
• 16:35
  Speaker 4: only be positive. It really can.
• 16:39
  Speaker 1: Well.
• 16:40
  Speaker 3: And you look at I was looking at the just
• 16:42
  Speaker 3: where they are right now about almost fifty billion in
• 16:45
  Speaker 3: terms of tax dollars saved. And this is just the
• 16:48
  Speaker 3: first thirty days or so. I mean, what's the potential
• 16:52
  Speaker 3: here of a blockchain truly being used around the government ecosystem?
• 16:57
  Speaker 3: And if so, what would you suggest if you add
• 17:01
  Speaker 3: elon Zer right now? What would you say, Hey, let's
• 17:04
  Speaker 3: do a variety of blockchains for different you know, scenarios.
• 17:07
  Speaker 1: How would you play it?
• 17:10
  Speaker 4: Probably a variety of blockchains just because it's net good
• 17:14
  Speaker 4: for the United States, you know, you you know, you
• 17:17
  Speaker 4: don't want to be a maximist at government level because
• 17:19
  Speaker 4: it's too important. But certainly things that need to be
• 17:23
  Speaker 4: truthy can get truth via very quickly. Economic data is one, right,
• 17:28
  Speaker 4: There's always, there's always the argument has been for as
• 17:32
  Speaker 4: long as I've been in market. Economic data is manipulated. Well,
• 17:37
  Speaker 4: once you put it on chain, it can't be. It's
• 17:39
  Speaker 4: provably so so we can do it with that, we
• 17:42
  Speaker 4: can do it with spending, we can do it with budgets.
• 17:45
  Speaker 4: All of this can go on blockchain. Now, let's see
• 17:48
  Speaker 4: how brave they actually get versus what they say. But
• 17:51
  Speaker 4: I think economic data might be But there again, Trump
• 17:53
  Speaker 4: might say fuck that. I actually just want to massage
• 17:57
  Speaker 4: the data myself. So people say they want true, but
• 18:01
  Speaker 4: it's not always clear that they did.
• 18:04
  Speaker 1: Well.
• 18:04
  Speaker 3: That's that's something that I think a lot of people
• 18:07
  Speaker 3: even though at the same time, I mean, you look
• 18:09
  Speaker 3: at what David Sachs has been able to do so far,
• 18:13
  Speaker 3: I would see has been somewhat you know, positive, even
• 18:16
  Speaker 3: though I think a lot of people were looking at
• 18:17
  Speaker 3: the fact that you can get, you know, across the
• 18:19
  Speaker 3: aisle talking to each other about the future of blockchain.
• 18:22
  Speaker 3: That's an achievement. What are your thoughts in reference to
• 18:25
  Speaker 3: what he's going to announce this week, which could be
• 18:29
  Speaker 3: just around the corner, something big and digital assets coming soon.
• 18:34
  Speaker 2: The answer is, we don't know yet. We know they've
• 18:36
  Speaker 2: got a lot of work.
• 18:37
  Speaker 4: We've heard that the whole working group fell apart, because
• 18:40
  Speaker 4: typical of crypto, nobody can agree with each other's so
• 18:43
  Speaker 4: you know, roll your eyes with embarrassment about how bad
• 18:46
  Speaker 4: this space can be. But that's where we got to
• 18:49
  Speaker 4: and Trump's like, I've had enough of all of you.
• 18:51
  Speaker 4: Get out, let's start this now. David Sacks is a
• 18:54
  Speaker 4: smart guy. He's got the air of mark andres and
• 18:57
  Speaker 4: they kind of you know, there's a lot of smart
• 18:59
  Speaker 4: people around the space who understand digital assets. We know
• 19:02
  Speaker 4: we've got to get stable coin regulations first, that's what
• 19:05
  Speaker 4: they've talked about. So that's a big one because it's
• 19:07
  Speaker 4: a large bar of US debt, so they want that.
• 19:10
  Speaker 4: Then we've just got to get the general framework, and
• 19:12
  Speaker 4: then we've got the strategic reserve. It's all going to come,
• 19:15
  Speaker 4: but it is going to take time.
• 19:17
  Speaker 2: You know.
• 19:18
  Speaker 4: David Sachs has got the enviable position of trying to
• 19:22
  Speaker 4: figure out some regulation for AI, which is much harder
• 19:25
  Speaker 4: than crypto to figure out because we've got something much
• 19:29
  Speaker 4: larger in terms of humanitarian, humanity scale impact. So look,
• 19:36
  Speaker 4: they've got a lot of work to do, but we
• 19:38
  Speaker 4: need something at some point soon that starts laying foundations.
• 19:42
  Speaker 4: I think the first thing would be stable coins all.
• 19:45
  Speaker 3: Right, so stable coin is kind of leading it. Potentially
• 19:48
  Speaker 3: maybe going into some sort of government organization in terms
• 19:51
  Speaker 3: of a blockchain launch would be pretty significant.
• 19:54
  Speaker 4: Yeah, or deciding who regulates this stuff sec you know,
• 19:59
  Speaker 4: just some of those a bit of clarity of direction
• 20:02
  Speaker 4: of Okay, this is how we're thinking about it, and
• 20:04
  Speaker 4: this is what we're going do. We don't need the
• 20:06
  Speaker 4: full final wording. It's like going to the CFTC. It's
• 20:09
  Speaker 4: going to be a thing unless it is proven to
• 20:12
  Speaker 4: be a security, which it will be an sec thing.
• 20:14
  Speaker 4: And this is how we're going to deal with it
• 20:16
  Speaker 4: as a different type of asset class.
• 20:18
  Speaker 3: How much of an impact do you think that would
• 20:20
  Speaker 3: have on this we'll call it this cycle. And I
• 20:23
  Speaker 3: want to ask you, do you believe this cycle even
• 20:26
  Speaker 3: exist anymore? The idea of how cycles have run in
• 20:29
  Speaker 3: the past.
• 20:33
  Speaker 2: Yes.
• 20:33
  Speaker 4: I think it's a big deal for the cycle because
• 20:35
  Speaker 4: when I speak to institutions, both from the investment side
• 20:39
  Speaker 4: or those that want to build on blockchain rails, this
• 20:42
  Speaker 4: clarity is desperately needed, desperately needed. Now they kind of
• 20:46
  Speaker 4: are moving forwards because they know it will be pretty
• 20:52
  Speaker 4: liberal now going forwards in how we can use this
• 20:54
  Speaker 4: technology but it's still not easy enough for corporations to
• 20:59
  Speaker 4: do this with ease.
• 21:01
  Speaker 2: So look, it's a very big deal.
• 21:03
  Speaker 4: It will bring in much larger check sizes for much
• 21:06
  Speaker 4: larger players over time. So yes, for this cycle. In
• 21:10
  Speaker 4: terms of cycles, unless the US government managed to pay
• 21:14
  Speaker 4: off all its debt and one go, we are in
• 21:16
  Speaker 4: this cycle. It's been the same repeating four year cycle.
• 21:19
  Speaker 4: It's driven by the debt finance cycle. It's a global cycle.
• 21:23
  Speaker 4: There is no way around that because of the aging
• 21:26
  Speaker 4: population and the debts that we have. So the only
• 21:30
  Speaker 4: thing is will this cycle morph its somewhat? Of course
• 21:34
  Speaker 4: they all do. Like the last cycle peaked really early.
• 21:36
  Speaker 4: Why because the business cycle peaked early in March twenty
• 21:39
  Speaker 4: twenty one, the business cycle and liquidity peaked when we
• 21:43
  Speaker 4: go to two thousand and seventeen. Liquidity in the business
• 21:47
  Speaker 4: cycle peaked right at the back end of the year
• 21:49
  Speaker 4: and then it had a blow off top twenty thirteen
• 21:52
  Speaker 4: was similar. So the last time around was actually the abnormality,
• 21:57
  Speaker 4: and there's always going to be an abnormal normality. So
• 21:59
  Speaker 4: what is the one most likely to happen this time? Well,
• 22:03
  Speaker 4: if the crypto markets and liquidity peak when the business
• 22:06
  Speaker 4: cycle peaks, and we'll use the ISM survey, the Institute
• 22:10
  Speaker 4: Supply Managers Survey as our proxy for that. We've only
• 22:14
  Speaker 4: just bottomed and we're breaking fifty to the upside, and
• 22:17
  Speaker 4: that's going to take several months or a year or
• 22:20
  Speaker 4: so to get there, So probabilistically speaking, it might push
• 22:23
  Speaker 4: it into twenty twenty six. So that's something we'd have
• 22:26
  Speaker 4: to get our heads around. Is actually goes a bit
• 22:28
  Speaker 4: longer than we imagined. So that's what I'm thinking about
• 22:33
  Speaker 4: this cycle. Then we've got to think, Okay, it's the
• 22:35
  Speaker 4: downside going to be the same because we've got new players,
• 22:37
  Speaker 4: we've got ETFs, we've got different stuff. People could have
• 22:40
  Speaker 4: put it brickcoin there four or one K, and I
• 22:43
  Speaker 4: would argue we probably have less downside. Bitcoin's downside has
• 22:46
  Speaker 4: been less each cycle, So maybe it's down fifty or
• 22:50
  Speaker 4: down forty five this cycle versus Nasdaq will be down
• 22:54
  Speaker 4: twenty let's say that would make sense. Now a whole
• 22:58
  Speaker 4: bunch of everything else will go down twenty nine percent
• 23:01
  Speaker 4: or ninety five percent, but what we'll see is the
• 23:04
  Speaker 4: majors going down less than previous cycles. I think that
• 23:07
  Speaker 4: that's my most likely outcome and so it can catch
• 23:12
  Speaker 4: people off guard because if people are waiting for the
• 23:14
  Speaker 4: bottom of a cycle in twenty twenty six and it's
• 23:18
  Speaker 4: more of a sloppy sideways range and everyone's expecting it
• 23:23
  Speaker 4: to go lower, you can end up having this whole
• 23:26
  Speaker 4: mess where you're very bullish but you don't own anything.
• 23:30
  Speaker 4: So I think, let's see how it plays out. But
• 23:32
  Speaker 4: I think it's going to be It'll always be different.
• 23:34
  Speaker 4: I'm just trying to figure out where it's gonna be different.
• 23:36
  Speaker 4: It's definitely not going to be a short cycle because
• 23:39
  Speaker 4: we've only just started the liquidity cycle. We've only just
• 23:41
  Speaker 4: started the business cycle, so it.
• 23:43
  Speaker 2: Won't be short.
• 23:44
  Speaker 4: Will it be towards the back end of the year,
• 23:46
  Speaker 4: which will be normal, or could it be back into
• 23:49
  Speaker 4: twenty twenty six?
• 23:49
  Speaker 2: And then what does twenty six look like?
• 23:52
  Speaker 4: Maybe less frantic than the last cycle, which we saw
• 23:55
  Speaker 4: a lot of collapses and a lot of things going
• 23:57
  Speaker 4: horribly wrong. But you've got to remember how money works
• 24:01
  Speaker 4: in the economy. Right now, there's all of these pension
• 24:04
  Speaker 4: plans and all of these private equity funds and all
• 24:07
  Speaker 4: these VC funds. They've had no exits, nothing has gone public.
• 24:12
  Speaker 4: Things like Stripe still not public in the crypto land
• 24:17
  Speaker 4: Quite Circle still not public, Kraken still not public, so
• 24:22
  Speaker 4: that we need to see the capital markets open. We
• 24:25
  Speaker 4: need to see money get recycled and then money can
• 24:29
  Speaker 4: move through the system. So we have that's one of
• 24:33
  Speaker 4: the issues. So a lot of the crypto based investments
• 24:36
  Speaker 4: is from the crypto market that releases as the capsule
• 24:39
  Speaker 4: goes higher, but of the traditional investors, there's still not
• 24:42
  Speaker 4: enough money, so we're having to bring in new capital
• 24:45
  Speaker 4: and that might be the Middle East or a couple
• 24:47
  Speaker 4: of others, but we're not getting the traditional investors fully
• 24:50
  Speaker 4: involved that just don't have money right now. And that's
• 24:52
  Speaker 4: a function of what I talk about when I talk
• 24:54
  Speaker 4: about the business cycle, the business cycle. If you think
• 24:56
  Speaker 4: about it, when the business cycle is expanding, it means
• 24:59
  Speaker 4: people have more earnings, whether it's a household levels or
• 25:03
  Speaker 4: corporation levels. Those profits and earnings get recycled into investments
• 25:08
  Speaker 4: and that's what drives a lot of this. So we're
• 25:10
  Speaker 4: still at this point where we don't have everything in
• 25:13
  Speaker 4: place to have a massive institutional involvement, but we are
• 25:17
  Speaker 4: definitely seeing signs of it once we get the regulatory
• 25:21
  Speaker 4: clarity as well. Just a basic guideline, it'll accelerate further.
• 25:26
  Speaker 4: So I only see acceleration ahead, but it just takes time.
• 25:31
  Speaker 3: Yeah, And I think everybody's in panic and panicking a
• 25:34
  Speaker 3: little bit in terms of what they've been watching here
• 25:37
  Speaker 3: in this last sixty ninety days. But to your point,
• 25:40
  Speaker 3: zoom out, people start to realize really what the what
• 25:43
  Speaker 3: this means?
• 25:44
  Speaker 2: Really?
• 25:44
  Speaker 4: You know, you see a lot of the It's easy
• 25:46
  Speaker 4: to get caught up in YouTube channels or Twitter or whatever,
• 25:51
  Speaker 4: and when you step back, has anything really happened? I
• 25:53
  Speaker 4: mean bitcoins barely consolidate it barely, and people because everybody's
• 25:59
  Speaker 4: hopes and dream in this trade, right, this is a
• 26:03
  Speaker 4: I call it the greatest macro opportunity of all time
• 26:05
  Speaker 4: or greatest macro trade of all time. But also most
• 26:08
  Speaker 4: of us have most of our wealth in this trade,
• 26:11
  Speaker 4: so it matters. So people are going to be incredibly
• 26:14
  Speaker 4: emotional about this because if we get through the other
• 26:17
  Speaker 4: side and you do the right things and you don't.
• 26:19
  Speaker 2: Look it up, you can make a lot of money.
• 26:21
  Speaker 1: Yep.
• 26:22
  Speaker 4: And so they think about their future self and they're
• 26:25
  Speaker 4: terrified of not getting there.
• 26:27
  Speaker 2: I get it.
• 26:28
  Speaker 4: It's just stick with the program and just be careful
• 26:32
  Speaker 4: and just be patient.
• 26:34
  Speaker 3: Well, like your theory in the sense of these business cycles,
• 26:38
  Speaker 3: especially when you go back and look at twenty twenty one,
• 26:41
  Speaker 3: because many people are so glued to that cycle that
• 26:44
  Speaker 3: they believe, well, it's a timing thing versus a macro
• 26:48
  Speaker 3: economic impact thing that starts to move the market.
• 26:51
  Speaker 1: So I totally agree with you.
• 26:52
  Speaker 4: I mean, it is all macro pool and most people
• 26:54
  Speaker 4: don't understand it. I spend a lot of my time
• 26:56
  Speaker 4: trying to educate people. It's actually the macro drives everything. Sure,
• 27:00
  Speaker 4: and we think technical analysis stuff like that's useful to
• 27:03
  Speaker 4: know where you are in a trend and what's happening
• 27:05
  Speaker 4: and strength and stuff, but really the whole thing is
• 27:08
  Speaker 4: driven by macro totally.
• 27:11
  Speaker 3: Let's flip over to gaming real quick. I want to
• 27:13
  Speaker 3: play a clip because we had YACHTSU from Anamoca brands
• 27:16
  Speaker 3: on here just recently and he was talking about something
• 27:20
  Speaker 3: specifically to a major launch of a game which could
• 27:23
  Speaker 3: have an impact on how AI agents are possibly getting
• 27:27
  Speaker 3: their breakout, which could be in gaming.
• 27:29
  Speaker 1: Let me play that clip for you. It was great news.
• 27:33
  Speaker 3: On the earnings, we had a smaller than expected loss,
• 27:36
  Speaker 3: but I think the reason the stock took off.
• 27:38
  Speaker 5: Is because you said, you know, Grand Theft Auto of
• 27:41
  Speaker 5: six is still on track.
• 27:43
  Speaker 1: Where do things stand?
• 27:44
  Speaker 2: What's going on? We're doing what we've been doing since
• 27:46
  Speaker 2: the very beginning.
• 27:47
  Speaker 5: I think it's going to trigger a general gaming bull run.
• 27:50
  Speaker 5: Take two has filed a few interesting AI patterns for gaming.
• 27:53
  Speaker 5: What's the other big thing that's happened this year is
• 27:55
  Speaker 5: Nintendo switch to These two triggers are all happening this year, right.
• 28:00
  Speaker 3: And the impact that someone like Aiden Ross could bring
• 28:02
  Speaker 3: to this, do you think they'll let this slide?
• 28:04
  Speaker 5: Take two is an American company. The guests who's president
• 28:07
  Speaker 5: of America at the moment in time now. Even if
• 28:10
  Speaker 5: they don't, it's going to create the kind of sort
• 28:13
  Speaker 5: of negative backlash they may have to reconsider, especially because
• 28:16
  Speaker 5: there's potential political implications. I would argue GTA is, of
• 28:21
  Speaker 5: course an edgy game, and I would argue that GTA
• 28:24
  Speaker 5: six is perhaps the largest cultural sort of moment. It's
• 28:29
  Speaker 5: going to be bigger than you know, sort of it's
• 28:32
  Speaker 5: like the Star Wars or the Marvel Avengers of the
• 28:34
  Speaker 5: Sierra type of.
• 28:36
  Speaker 3: All right, so, Yatsu, they're talking about this game event
• 28:40
  Speaker 3: possibly having the biggest impact potentially of where we could
• 28:44
  Speaker 3: see things like AI agents and or crypto becoming a
• 28:47
  Speaker 3: real thing. We had referenced Aidan Ross because he's talking
• 28:50
  Speaker 3: about integration, even though we may not necessarily get that
• 28:53
  Speaker 3: to be a reality. But someone that big, that has
• 28:56
  Speaker 3: such a cultural connection, do you think that could true
• 29:00
  Speaker 3: start to kick off web three gaming.
• 29:04
  Speaker 4: I'm not sure Grand Theft Auto will have any Web
• 29:06
  Speaker 4: three elements in it, but what I do know is
• 29:10
  Speaker 4: there are so many big grade A games being built
• 29:14
  Speaker 4: on blockchain rails across many ecosystems, and as I said,
• 29:19
  Speaker 4: off the Grid on Avalanche was the first kind of
• 29:21
  Speaker 4: big one. But I know, Sue, we have a lot coming.
• 29:25
  Speaker 4: I'm sure Solana do too. I'm sure there stuff on EVM,
• 29:28
  Speaker 4: so we will see this, and it's definitely something everyone's
• 29:33
  Speaker 4: working on. The issue is is like a big movie.
• 29:36
  Speaker 4: These things are hugely expensive. Most of them don't even
• 29:40
  Speaker 4: make it to market in the end, so they just
• 29:42
  Speaker 4: destroy the capital, never get there. The cycle of building
• 29:46
  Speaker 4: one of these games is kind of five years. Yeah,
• 29:49
  Speaker 4: well four years. You can see from Grand Theft Auto.
• 29:51
  Speaker 4: It's it's actually matches the business cycle every time, and
• 29:54
  Speaker 4: it tends to come out at the end of the cycle.
• 29:57
  Speaker 4: So it takes four years to build a game of
• 29:58
  Speaker 4: that magnitude with infinite resources that they've got, So you
• 30:02
  Speaker 4: can see how difficult it is for an investment cycle
• 30:04
  Speaker 4: as well. It's the investments that went in in twenty
• 30:07
  Speaker 4: twenty and twenty twenty one that are going to become
• 30:10
  Speaker 4: games now. Many of them blew up and ran out
• 30:12
  Speaker 4: money in twenty twenty two, twenty twenty three, so we'll see.
• 30:16
  Speaker 4: But from what I know from speaking to everybody across
• 30:18
  Speaker 4: the industry, there is a lot coming. But like a film,
• 30:22
  Speaker 4: just having a big budget film doesn't mean it's a
• 30:25
  Speaker 4: box office success. So that's the next thing. We need,
• 30:28
  Speaker 4: a true box office success.
• 30:31
  Speaker 3: One.
• 30:31
  Speaker 1: Yeah.
• 30:33
  Speaker 3: Well, and I think when you look at just Handtaild
• 30:35
  Speaker 3: Gaming in general, Suite as out there getting ready to
• 30:38
  Speaker 3: launch with their sweet play interesting thing. I was looking
• 30:42
  Speaker 3: at right here, Raoul. I don't know if you saw this,
• 30:45
  Speaker 3: but this was the original design right there, and then
• 30:48
  Speaker 3: they transitioned into this new design, and man, it is
• 30:52
  Speaker 3: so so even the button triggers and the controls are
• 30:56
  Speaker 3: the same as the switch. So very intriguing, you know,
• 31:00
  Speaker 3: in the sense that of being able to go after
• 31:02
  Speaker 3: modern day gen z gamers, which most likely would go
• 31:06
  Speaker 3: this direction. And then you have the potential here of
• 31:09
  Speaker 3: course going in and then you look at just what's
• 31:12
  Speaker 3: happening with Japan in terms of Sony, which is also
• 31:16
  Speaker 3: another factor playing into this.
• 31:18
  Speaker 1: We kind of zoom in on that right there, And I.
• 31:21
  Speaker 3: Mean, with all this happening, is this potentially a blind
• 31:25
  Speaker 3: spot that could be coming at us right now in
• 31:28
  Speaker 3: terms of Web three gaming in general.
• 31:30
  Speaker 2: Yeah, I think, look, series the right step.
• 31:32
  Speaker 4: Building hardware is very difficult, which is why I think
• 31:35
  Speaker 4: the original design. I mean, obviously I'm on the foundation
• 31:37
  Speaker 4: of series.
• 31:38
  Speaker 2: Yeah, so I know.
• 31:39
  Speaker 4: Some of this stuff, and yeah, building hardware is very hard.
• 31:42
  Speaker 4: But getting a web three handset to ten thousand people
• 31:47
  Speaker 4: to start with, getting people to use it is the
• 31:50
  Speaker 4: same as the solanaphone idea. Yeah, you know, before you
• 31:53
  Speaker 4: know it, you're getting air drops for doing it. You're
• 31:54
  Speaker 4: positipacing Web three gaming. It starts building an ecosystem. But
• 31:58
  Speaker 4: again it's all around this same idea that gaming is
• 32:03
  Speaker 4: the is one of the single largest use cases of
• 32:07
  Speaker 4: the Internet. And so we're talking you know, a billion people,
• 32:12
  Speaker 4: five hundred million people. These are very very big cohorts
• 32:17
  Speaker 4: of people that would benefit from Web three, so it's
• 32:21
  Speaker 4: obvious they're going to keep going after this.
• 32:24
  Speaker 3: Let's flip over to XRP, Doppler Finance and ounce. We
• 32:28
  Speaker 3: started to see basically DeFi on XRP. The potential here
• 32:33
  Speaker 3: is pretty significant. They just had their second batch now
• 32:36
  Speaker 3: come out, so their total value around two million, so
• 32:40
  Speaker 3: it has large XRP DeFi. So what are your thoughts
• 32:43
  Speaker 3: on this any implications as to how XRP does in
• 32:48
  Speaker 3: the market overall? Do we still see upside here for XRP.
• 32:51
  Speaker 4: The more that's built on top of XRP. So XRP
• 32:54
  Speaker 4: is in an exalted situation because there's a lot of holders.
• 32:58
  Speaker 4: But the activity was, you know, a under pressures of regulator,
• 33:03
  Speaker 4: under lawsuits and be a lot of It was the
• 33:07
  Speaker 4: potential of how much can we use for stuff? And
• 33:09
  Speaker 4: there is a reason amount of use of the xop ledger.
• 33:13
  Speaker 4: But if you're starting to build new applications like DeFi
• 33:15
  Speaker 4: on top, you're only going to build value in metcalfst
• 33:18
  Speaker 4: law terms, which is network value. So it can only
• 33:23
  Speaker 4: be a net positive if people start to use it.
• 33:25
  Speaker 4: Because there's a lot of users, there's not enough things
• 33:27
  Speaker 4: they can do with their XRP. So we've had some
• 33:29
  Speaker 4: means on XRP that was a use case. More defie
• 33:32
  Speaker 4: XRP more use case. Then you've got something much bigger
• 33:35
  Speaker 4: than the original thing. So you know, I'm for you know,
• 33:38
  Speaker 4: for me, all blockchains about proving yourself and proving network
• 33:42
  Speaker 4: value by building value, and if they can do that,
• 33:45
  Speaker 4: good for them.
• 33:47
  Speaker 3: Yeah, I'm looking at XRPL right there. You can kind
• 33:49
  Speaker 3: of see the flow in terms of where it's been
• 33:51
  Speaker 3: able to go in a short period of time, but
• 33:53
  Speaker 3: it's still early. Like you said, you know, we just
• 33:55
  Speaker 3: started to see you know, xrps stable coins start to
• 34:00
  Speaker 3: get market share here recently, even though it's been climbing,
• 34:03
  Speaker 3: which is pretty significant. But again back to your point,
• 34:05
  Speaker 3: you need some exposure. Are you following the TikTok moves
• 34:10
  Speaker 3: right now in terms of what's happening with TikTok in
• 34:12
  Speaker 3: the US? Yeah, So Frank McCord, who is leading a
• 34:18
  Speaker 3: group with Kevin O'Leary, is looking at a potential acquisition
• 34:22
  Speaker 3: and they're tied directly into possibly using Polka Dot as
• 34:27
  Speaker 3: the base chain to maybe launch within a US version
• 34:31
  Speaker 3: of TikTok. Do you have any theory on as to
• 34:34
  Speaker 3: whether or not that could possibly happen down the road.
• 34:38
  Speaker 4: There's going to be a fight for TikTok, and the
• 34:40
  Speaker 4: fight is because it's all about AI feeding the AI content.
• 34:45
  Speaker 4: It's the reason Elon bought X. It wasn't about freedom
• 34:49
  Speaker 4: of speech. It was about we need the broadest number
• 34:51
  Speaker 4: of views of humanity on this platform that I can
• 34:53
  Speaker 4: scrape the AI for to create robots that can speak
• 34:57
  Speaker 4: and live with me in my household. So TikTok is
• 35:00
  Speaker 4: a very exalted asset. Not only does it have great
• 35:04
  Speaker 4: AI algorithms itself, but the sheer amount of facial imagery,
• 35:11
  Speaker 4: human movement, human voice is very valuable. So I don't
• 35:16
  Speaker 4: think I don't know who's going to get this, but
• 35:19
  Speaker 4: it's going to be a political agreement. Who's going to
• 35:21
  Speaker 4: get it? Yeah, and so it's going to be somebody.
• 35:24
  Speaker 4: It could be Microsoft, it could be I don't know.
• 35:28
  Speaker 4: I would doubt if Kevin O'Leary in a group of
• 35:30
  Speaker 4: others will get it against that because people know it's
• 35:34
  Speaker 4: a very crucial asset.
• 35:36
  Speaker 2: Yeah, it's possible.
• 35:39
  Speaker 3: Yeah, well right now it's Oracle kind of leading the way.
• 35:41
  Speaker 3: Larry Allison, Microsoft, probably your number three right there, and
• 35:44
  Speaker 3: then there's Frank at sixteen percent. This is on poly
• 35:47
  Speaker 3: market for you guys to see kind of the trading
• 35:50
  Speaker 3: behind it, but even Bobby Kotik is in there as well.
• 35:53
  Speaker 3: Now mister Beasts is also part of the Frank McCort group,
• 35:57
  Speaker 3: so that in itself entry as to where this goes.
• 36:01
  Speaker 1: Last question to you, Roll, I've got to ask this.
• 36:04
  Speaker 3: Because our audience would never let me get away without it,
• 36:06
  Speaker 3: and that is what are your picks?
• 36:08
  Speaker 1: Your portfolio picks for the rest of the year.
• 36:11
  Speaker 4: So using my don't this up thesis, which is just
• 36:17
  Speaker 4: eighty ninety percent of your portfolio in the majors, you
• 36:21
  Speaker 4: can do what you want. With ten percent, you will
• 36:22
  Speaker 4: probably lose money with those. I hope you get one
• 36:24
  Speaker 4: hundred X or a thousand X, but you won't, so
• 36:27
  Speaker 4: enjoy that. Just stick with what you're doing. My current
• 36:31
  Speaker 4: allocation is I'm I'm now more overweight sweet than I
• 36:35
  Speaker 4: am Solana. Those are my two majors in I own
• 36:40
  Speaker 4: a very small amount of Bitcoin that I've always had,
• 36:43
  Speaker 4: and then I have ETH which is only in high
• 36:47
  Speaker 4: end art NFT, so I don't own any eth other
• 36:49
  Speaker 4: than art. Really, my focus bet is sweet with a
• 36:54
  Speaker 4: little bit of Solana. Now that's flipped because I was
• 36:58
  Speaker 4: the other way around. I was, you know, eighty percent
• 37:00
  Speaker 4: Silana and twenty percent Swie and I'm kind of flipping
• 37:03
  Speaker 4: those around and looking to move even more towards SUI
• 37:07
  Speaker 4: because I think it out informs this cycle.
• 37:09
  Speaker 3: Yeah, so your thesis is just the performance of it itself.
• 37:12
  Speaker 3: It's the younger project, much like what Solana was in
• 37:16
  Speaker 3: the last one.
• 37:17
  Speaker 2: And the cycle before. It's just exactly that.
• 37:20
  Speaker 1: Yeah, it's kind of like the new.
• 37:21
  Speaker 4: Kid, you know, and it's not the good people stay
• 37:23
  Speaker 4: watching this. Well, he's biased because he's on the board. No,
• 37:26
  Speaker 4: I mean yes, I get granted tokens from the board.
• 37:28
  Speaker 4: They're all locked up. I don't do anything my actual capital.
• 37:31
  Speaker 4: I'm a mercenary for my job is to maximize the
• 37:34
  Speaker 4: returns in the safest possible way, and I have over
• 37:38
  Speaker 4: time been allocating to SWEE based on not only what
• 37:42
  Speaker 4: you read the fundamentals and what's happening and the on
• 37:45
  Speaker 4: chain activity, but also just the price action versus Solana
• 37:48
  Speaker 4: and Bitcoin Uneath.
• 37:50
  Speaker 2: It's it looks good.
• 37:52
  Speaker 1: Yeah, for sure. Roll, it's been good having you on.
• 37:54
  Speaker 1: Thank you so much.
• 37:55
  Speaker 3: We got to get you back on as the market
• 37:57
  Speaker 3: heats up over the next few months, which I think
• 37:59
  Speaker 3: it's going to. So good to have you, and thanks
• 38:01
  Speaker 3: again for stopping in. We appreciate it.
• 38:03
  Speaker 2: Yeah.
• 38:03
  Speaker 4: Hopefully people then get too bored or too deranged in
• 38:06
  Speaker 4: the sloppy market, it go away, do something else and
• 38:10
  Speaker 4: before you know, everything will be fine.
• 38:12
  Speaker 3: Liquids is coming exactly all right, Thanks for coming in,
• 38:16
  Speaker 3: all right, guys, you bet all right, guys. Make sure
• 38:19
  Speaker 3: and jump in on the Diamond Circles, our own private group,
• 38:21
  Speaker 3: and of course you can also get in on our
• 38:23
  Speaker 3: Telegram group as well. It's very easy. That's where I
• 38:25
  Speaker 3: kind of spend a little bit of my time chatting
• 38:27
  Speaker 3: with you guys. So we leave a link down below,
• 38:29
  Speaker 3: so check it out. It's very easy to set up,
• 38:31
  Speaker 3: and of course follow me out there on x just
• 38:33
  Speaker 3: at Paul Baron. We'll catch you next time right here
• 38:35
  Speaker 3: on tech Path.