Latest / The Paul Barron Crypto Show / Hillary Joins Crypto Army + Biden Crypto Meeting w/ Jackie Dutton
Transcript
- 0:06All right, crypto getting to be a little bit more bipartisan. Today we'll
- 0:09be breaking down what that might look like in a new world of crypto and
- 0:13politics and how it plays into a lot of projects. You're gonna love it.
- 0:16My name was Paul Baron. Welcome back into tech Path. Before we
- 0:19get started, I want to thank our sponsor today, and that is Wilder
- 0:21World. If you guys are looking at one of those emerging games, go
- 0:25over and check them out on AX. Just go to Wilder World on ACT.
- 0:28You can find a little bit more about what they're doing. They did
- 0:30a huge promo over at the Wheels Arcade in Austin during Consensus, had a
- 0:37huge promotion and you can kind of see what happened there at the event.
- 0:41Really had a great time. I think this is one of those things where
- 0:43we see those in real life events come to reality around crypto. So check
- 0:48it out. Just go over and kind of follow it along from Acts.
- 0:51You can run over to the website, et cetera if you decide to go
- 0:55that route. All right, I want to get into the topic today,
- 0:57and this is more on the topic of polity, but also at the same
- 1:02time how it applies into crypto. So I want to bring our co host
- 1:04in. Of course, that's miss Jackie Dutton coming in today. How are
- 1:08you, Jackie. I'm good. We're having a little technical difficulty, but
- 1:14I hope everybody likes the new microphone. Oh, Mike is great, your
- 1:17audio is excellent. Let's lead off with the first story, and this is
- 1:22going to be a good one for those of you in the political arena,
- 1:23and that is Hillary Clinton stuns the Democrats by endorsing George Latimer as Jamal Mohman's
- 1:30congressional seat New York. Of course is the congressional seat right here is the
- 1:36district sixteen, which is what we're talking about. This is Jamal Bowman statements
- 1:40on crypto. You can kind of see it right there. Fit twenty one
- 1:42in the SAB voted against, voted against and also CBDC anti surveillance state actor
- 1:47voted against versus George Latimer, who currently does not have a position. This
- 1:52coming over from stand with Crypto from coinbase. Are people going to vote their
- 1:57crypto holdings or are they going to vote their political stance? Yeah? I
- 2:00think everybody in my world, at least and on my feed is well aware
- 2:05that this is a much bigger issue, right. This is about freedom to
- 2:07self custody. This is about inflation the economy, and if you are so
- 2:12adamantly against it that you know even SAB one twenty one, which had more
- 2:15to do with banks than it even did you know, the common man?
- 2:20This is probably not somebody who has our financial best interest at heart in the
- 2:24world of crypto at least. Yeah, for sure, I'm going to play
- 2:27a clip for you just so you guys can get a framework around Jamal Bowman.
- 2:30But there's a lot of Jamal Bowman's out there people that are in this
- 2:35position, especially on the Democratic side. Let me cut to that clip real
- 2:38quick. So Hillary Clinton sparked a big debate within the Democratic Party by endorsing
- 2:45more moderate New York primary candidate George Latimer over the incumbent Democrat Jamal Bowman.
- 2:51Clinton tweeted that with Trump on the ballot, we need strong principal Democrats in
- 2:54Congress more than ever in Congress. George Latimer, what's the reaction to that?
- 3:01No real reaction. I definitely wouldn't call out a major endorsement with all
- 3:07due respect. I mean, we are endorsed by sitting US senator Elizabeth Warren.
- 3:14I love our endorsements and they're going to help us win this race.
- 3:17The poll found that fifty one percent of respondents have a favorable view of Bowman.
- 3:23In comparison, sixty five percent said they have a favorable view of Latimer.
- 3:27People around the country are recognizing that, hey, Bowman could lose,
- 3:30and maybe that's a surge of energy into the district. I think Bowman has
- 3:34a lot of supporters. His problem is they don't live in the district.
- 3:38You know, Yeah, that doesn't work. So what I understand that doesn't
- 3:40work. So what I have these if you look at some of the expenditures
- 3:45in terms of propping up some of these candidates, and it is an important
- 3:47scenario this right here showing fair Shake right there as the number two candidate opposing
- 3:53Bowman, of almost and you can kind of see it. Let me kind
- 3:55of zoom in on that right there, almost two million dollars going into this
- 4:00opposition. With this being the case, fair Shake one of the largest packs
- 4:03out there really fighting for crypto. I think in general we've seen a ton
- 4:09of very pro crypto entities that are supporting fair Shake. This could start to
- 4:14spill over into a lot of races. How much of an impact do you
- 4:16feel like this is going to have right now on this year's election, Jackie,
- 4:23Oh, it's huge. I think this is an influx of money and
- 4:27donations and special interest that we haven't really seen before in the past. I
- 4:31don't think it's really existed. The framework hasn't been there, and there hasn't
- 4:35been the organization that we really are now seeing. I know that I see
- 4:40a lot of people say, well, I hate that we have to play
- 4:42this game like a big pharma or a tobacco or an alcohol but we do.
- 4:47And it's just them's the breaks. That's just kind of the way that
- 4:53it is within this game. But it's going to actually get things done in
- 4:56our favor. This is where the polls currently stand on the New York sixteen
- 5:00Democratic primary, and you've got it right there. George Latimer at forty eight
- 5:05percent, Jamal Bowman at thirty one percent. That's currently there's a little bit
- 5:09of a margin era there, but the undecided number is still the one that
- 5:12is big to me. Now this, of course, many of you guys
- 5:15will say, justice Democrats, what are you guys talking about? This is
- 5:17crazy? Of course, of many people will know this. The one name,
- 5:21though that I will say that has seemed to cross the line is Rocana,
- 5:27and he seems to be in a position to where he thinks that a
- 5:30pro business stance, both from a democratic and maybe across the island the Republican
- 5:35side is the answer for crypto and a lot of what's happening in blockchains.
- 5:40Let me play a clip for you, and I want to get your opinion
- 5:42after this clip, take a look. One of the things I've said to
- 5:45folks is even if you're not investor, I'm not invested in crypto, but
- 5:47I've gone on Coinbase, I've opened a wallet, I've opened met a mask.
- 5:53I know that you can't buy NFTs on Coinbase. I know that you
- 5:57need to go on the open seats from Mentat. I know the basic experience.
- 6:01It takes literally forty eight hours to figure this stuff out. And yet
- 6:05you probably don't have more than four or five members of Congress who've ever done
- 6:10that. And we need more people to actually get the basic Go get open
- 6:14a wallet. So it is way too complicated in my in my experience,
- 6:17and the more we can simplify, the more actually you can reduce the fees
- 6:21so that people know that you can transfer body where you need to memorize your
- 6:25twelve word password. But if we can fix that so that you don't have
- 6:29to memorize that twelve word password. But all of that just means that this
- 6:31is in a nascent stage of technology. If you go in your negative on
- 6:38crypto and you don't understand it, it seems like you're hurting their view of
- 6:42what modern wealth generation could entail artists. If you care about artists, songwriter,
- 6:47singers, you should be for this technology. It's you get to lower
- 6:50potentially the cost of prescription drugs. Look, Mark Cuban has this interesting idea
- 6:57of with He's where he's going to use some of this to try to bring
- 7:00prescription drug plus down. We haven't been able to do that at Tigris campaign
- 7:03on it every year. So that's Rocanna talking about that. I mean,
- 7:06he actually said some pretty straightforward things that I think any congressman and woman would
- 7:13probably look at and say, yeah, I'm going to go ahead and spend
- 7:15a little time and try to figure this out. Do you think there's any
- 7:17chance for that really happening? Jackie, what are your thoughts on that?
- 7:21I mean, I think we're talking about people, some of them are in
- 7:25an age gap who would ask for help using their television remote. Still,
- 7:29so I just don't believe that they're going to figure out how to use met
- 7:31a mask over the weekend. Here, of course, is Biden's administration talking
- 7:38about a potential round table in DC and Cuban looks like he's going to be
- 7:44maybe the one that is there. And what they're stating here is this could
- 7:46be the most significant meeting between policymakers and innovation leaders in the blockchain area today.
- 7:53Mark Cubanan is planning to be there. He's going to pitch on one
- 7:57area. Rokanna mentioned this about potentially lowering cost of pharmaceuticals. Let me go
- 8:03to the clip on that. I want to just kind of get your position
- 8:05on whether you think this is a good angle. Take a look, and
- 8:09I'd say part two to what we came up with in launching cost plus Drugs
- 8:13with is transparency. Because the missing element in all of healthcare right now is
- 8:20trust. So when you go to cost plus Drugs and you costplus drugs dot
- 8:22Com and you put in the name of the drug that you're looking to buy,
- 8:26you'll see exactly what we pay for it. You'll see that it's marked
- 8:31up fifteen percent. We'll show you what the markup is. You'll see that
- 8:33there's a three dollars handling fee for the pharmacy and five dollars shipping. And
- 8:37that was only seventy seven of the drugs that we sell. Imagine if they
- 8:41used all nine hundred plus. But you haven't had any mainstream applications where your
- 8:46mom says, Okay, we've got to get a wallet because I have to
- 8:48do a B or C. We're waiting for that next round of applications and
- 8:52there's a lot of people working on them. You know, NFTs for the
- 8:56resale of books. So we take NFTs past the collectable markets to the utility
- 9:01markets until mobile phones came along from nineteen ninety five to two thousand and seven
- 9:07with the iPhone. Yeah right, and then even remember they are the first
- 9:11apps on the app store, were like, hey, look, let me
- 9:13hold my phone like this. It looks like drink beer. Right, yeah,
- 9:16it looks like I'm drinking a beer. Just dombshit. There's no reason
- 9:20why crypto's going to be any different. Do you think that's the angle that
- 9:22the administration will understand I don't necessarily know if they're really the Apple to Apple
- 9:30comparison that he really wants it to be at this point. But it's not
- 9:35price gouging, and that's just our only issue in crypto. We have numerous
- 9:39problems. I want to play a clip here by Cody Carbone and he goes
- 9:46into a little bit about the importance of this meeting. Take a look.
- 9:48Everyone is now talking about what President Biden is going to do because former President
- 9:54Trump has come out fully supportive of the industry a complete one point eighty from
- 9:58when he was in office, and so we're hearing more and more rumors about
- 10:03how the Biden campaign are reaching out to crypto, the crypto industry, and
- 10:09it's culminating in this roundtable that is going to be hosted by Congressman Rocanna.
- 10:15We're hearing Mark Cuban will be there. I think everyone is still trying to
- 10:18figure out what this will look like. We're hearing this will be sometime in
- 10:20July. And so this email was leaked from Congressman Conna saying, Hey,
- 10:26we're going to do this, and now everyone is scrambling to figure out,
- 10:28Okay, what's this going to look like? And how do I get there
- 10:31and who's going to be there From the administration. The title of the roundtable,
- 10:35I believe, was, you know, how do we lead on digital
- 10:39assets, which I'm really optimistic about over fifty million users in the United States.
- 10:46That's larger than all of New York State combined. They started to hear
- 10:50about it from their constituents. It wasn't just the crypto lobby, which I
- 10:54am a proud member of, saying hey, you need to pay attention here.
- 10:58No, now, it's you know, the mom and Pops store in
- 11:01their district that wants to take crypto. I just wonder if if Biden will
- 11:05just go the other way just because Trump has gonna gone this way, what
- 11:09do you think he'll he'll do? That's really what it seems like. I
- 11:11mean, he's talking on of both sides of his mouth, right, He's
- 11:15going to have this roundtable, but he just vetoed sab one twenty one.
- 11:18What's going to happen when the fit Act comes across his desk? If you
- 11:22know, you can't pander for votes and then slap us in the face when
- 11:26it comes to actually being the one in charge of approving the regulation and not
- 11:30actually doing it. He's had the opportunity at this point to show his support
- 11:35legislatively and he has not. Well, in I can't believe I'm saying this
- 11:39in Biden's defense. What I will say is that Trump did not come out
- 11:46and say that he was pro crypto prior to that, you know, prior
- 11:50to the SAB vote. So I mean there's a lot of chess being played
- 11:54here because Trump probably had a little bit of an idea that Biden was probably
- 11:58going to stand in his ants of a veto, and Trump used that as
- 12:03a catalyst to say, all right, let me show you the other side
- 12:05of the coin, and boom, off you went, which could be the
- 12:07case because he is definitely winning votes right now in the crypto community. And
- 12:13back to the point, the point that Cody Carbone made, which is small
- 12:15business, because that's going to be a huge stump, you know, topic
- 12:20for a lot of these candidates. I want to jump to a clip here
- 12:22because this was something that happened on TikTok that is huge in terms of small
- 12:28businesses, creators and so on that eventually I think we'll start to transition into
- 12:35uh to crypto. Follow me on this one, Let me play this clip
- 12:39for you. Canvas Beauty made TikTok history, hitting a million dollars in sales
- 12:45during a single live session, have a rope up Er Whole Life. In
- 13:09twenty twenty three, that market was worth about six hundred and forty seven billion
- 13:11dollars in China and the US fifty billion, so dropping the bucket not that
- 13:16much. So what we're hearing from a lot of these CpG companies is that
- 13:20they would rather, especially newer brands upstart such as Stormy's company, They're going
- 13:24to TikTok because you can scale like that, payments and so forth. How
- 13:30does that get done? And I assume that that TikTok collects some toll of
- 13:37of revenues, right, So basically when you have a TikTok shop, all
- 13:39of your transactions are actually done through the TikTok shop and their platform. Stormy,
- 13:45do you worry they're going to ban TikTok? Of course, it's always
- 13:48like at the top of mind, and I would hate if they did such
- 13:50a thing because it would crush a lot of people's American dreams. I don't
- 13:56know, I'm looking at it in a point of is TikTok maybe a ticking
- 14:01time bomb here when you look at the fees that are playing into this,
- 14:05the referral fee, this is their current US fees are getting ready to go
- 14:09from six percent this was April twenty twenty four in July here in a couple
- 14:13of weeks to eight percent when you look at that right now, obviously,
- 14:18you as a content creator, you're out there in this sector. How are
- 14:22you playing this? Nothing feels more egregious than when you create content and you
- 14:26put it on YouTube, for instance, and you created the majority of the
- 14:31content, and they threw ads on it. Right And I'm not trying to
- 14:35get anybody demonetized today, but I'm not just saying it's I mean, I'm
- 14:39sure you see the payout, Yeah, the payouts. It's files. It's
- 14:45like, wow, you just were the vessel in which I hosted my content,
- 14:48but you would have no content without people posting it. It's filed.
- 14:52So I think, you know, as long as crypto builds simplified infrastructure,
- 14:58the that we've talked about before, the way that bass come in, and
- 15:03you know, coinbas wallet has really created something simple. TikTok is very simple
- 15:07as you swipe, it's very intuitive and I'm sure the buying process is equally
- 15:13as simple. So I think just honing that in and getting to a place
- 15:18where it almost doesn't matter what currency you use. You just kind of load
- 15:20your wallet with it and then you can get a gamified way spend it how
- 15:24you want. Yeah, it's always going to open up an opportunity for crypto.
- 15:28Okay, all right, With that being said, one thing you have
- 15:33to be aware of, though, is this creator fund on TikTok, which
- 15:35is kind of intriguing. Let me play this clip because this breaks it down
- 15:41a little more. Take a look. I'm currently making around two point five
- 15:45cents per thousand views, and I used to make five cents per view on
- 15:50TikTok. What happened? What changed? The pool of money is the same
- 15:54size. Why am I making less perview? Because there are more views on
- 15:58the platform. It's grown, there are more users, TikTok is earning more
- 16:00money. The pool is the same size, so there are more views with
- 16:04the same number of dollars, so you make fewer dollars per view. Literally,
- 16:10when TikTok becomes more successful, TikTokers become less successful. What if TikTok
- 16:17had the same partnership with creators that YouTube has TikTokers would be making at minimum
- 16:22sixteen cents per thousand views, that is six times what they are making now.
- 16:26That person could be a full time creator, They could be thinking about
- 16:32expanding, about hiring, about creating a business. We don't have a platform
- 16:37without you, but you don't have a platform without us. It's almost the
- 16:41same thing that you just mentioned. And whether you look at X or you
- 16:45look at something like farcast or I was just looking at their daily active users
- 16:48here on Doune. I mean, look at the growth that we've seen here
- 16:52on This is Farcaster by the way, So for some of you guys who
- 16:55are not aware of it, it's kind of a Twitter clone. Go search
- 16:59Farcaster warp cash. You can get it on the iOS or the Android store.
- 17:02Check it out. Has a lot of similarities, but it's just beginning.
- 17:06It's just getting going. Obviously X has a potential with this, and
- 17:10then you look at social and I think about this right here, this is
- 17:14driph House. If you're a crypto native media, you're directly putting your assets
- 17:18in front of one hundred thousand salon collectors per day within web two media that's
- 17:22tiny but within the crypto. So here's my question to you, being it's
- 17:26kind of like being a big fish in a small pond or a small fish
- 17:30in a big pond. You know, which route do you take? If
- 17:33you are a creator out there, especially in the crypto space, what would
- 17:37you do in that kind of scenario? You know, I think there's really
- 17:41awesome opportunities to repurpose your content and change it a little bit as you go
- 17:45from one platform to the next. So you know, using the teaser content
- 17:51that performs the best on one platform to kind of, you know, start
- 17:55sending people over to maybe the higher quality content that really like becoming rapid for
- 18:02and really looking for. I think that's probably the best strategy. One thing
- 18:06that has started to really perk my interest is the idea of taking brands on
- 18:11chain. Let me play a clip for you because this is a good one
- 18:14about maybe how brands could go on chain. Take a look, So what
- 18:18does the new form that look like? Build a brand, launch an onchene
- 18:22community aka NFT sales aka our little own version of by QO, collaborate with
- 18:29the NFD holders, and then sell products completely changing the model of how we
- 18:36know brands are built. So this is obviously seeing an optic of what we
- 18:41call on chene brands, where NFC communities no longer are being confined to the
- 18:45fact that they're just NFC communities, but they're also thinking, but what can
- 18:48I do ahead of my brand to take this more mainstream? Would you pitch
- 18:53this to a new business and say start this way? Yes? And I
- 18:56think the it builds that no light can trust kind of you know, we're
- 19:02just really tired. I think of being just like sold something like you know,
- 19:04hi, buy this like it's very disconnected, of like, oh,
- 19:08I don't even know you. And I think that that no like and trust
- 19:12that you build a brand, you also give something like an algorithm the opportunity
- 19:18to show it to you based on likes that you have, you know,
- 19:22shown that you're interested in in the first place. I know it's creepy,
- 19:26but I really like when some stuff comes on my feed that I was searching
- 19:29for and it's like, oh my god, you have a chip in my
- 19:32brain. Well. One of the strategies that has worked very well is of
- 19:36course, the Project Pudgie Penguins. Here's a clip here from Luca talking about
- 19:41NFTs and why they matter so much. Take a look in reality, we've
- 19:44only been hitting a stride for call it fifteen sixteen months. If you look
- 19:48at our accomplishments and you look at our funding landscape, you think to yourself,
- 19:52they have, you know, forty fifty billion views across social they have
- 19:56over a million toys sold. They have these huge part partnerships that are kind
- 20:00of unheard of, you know, partnerships that take years and years to kind
- 20:03of garner. We are just moving so much faster because I have ten thousand
- 20:07people pushing my objective with me. NFTs and just token holders in general are
- 20:15either the ultimate jet fuel to your company or the ultimate deterrent you can win
- 20:19in a way that is unparallel to anything we've seen prior to crypto. You
- 20:23could make the same case for ethereum in that programming language, like you know,
- 20:27when's the last time a programming language hit an enterprise value of five hundred
- 20:33billion dollars. It's just like it's it's relevant across the board. I think
- 20:37this is a complete shift of thinking. You know, everything I've learned in
- 20:42marketing, technology and media for the last twenty five years, I look at
- 20:48what's happening today, and I think this is a revolution in how audiences behaved
- 20:52because Luca's right, you know, you put to it's you know, there
- 20:56was an old book out there by Seth Godden called tribes, and tribes are
- 21:00exactly what he's talking about. Build a tribe of one thousand or ten thousand,
- 21:04and that tribe can become such a great opportunity. But there's not very
- 21:08many companies that ever did that. So now we're starting to actually see it
- 21:12because of the potential for NFTs being kind of the mechanism. So so far,
- 21:18do you think this is still a fad or do you think this is
- 21:21really a shift in business. I think it's valuable for them to look into
- 21:25it and to implement it, especially with like the high end the luxury brands.
- 21:29It's so hard sometimes to spot something that's fake. You know, a
- 21:33designer perse that costs twenty five thousand dollars. How do you really really know
- 21:38that you got what you wanted and god what you paid for. So having
- 21:44that authenticity of something on the blockchain, I do think really starts to validate
- 21:48that the key here is going to be scale and one of the areas that
- 21:52I'm watching very closely, is of course how well these networks are growing.
- 21:57Here's an example, based network now surpasses binance chain in terms of active dex
- 22:03users. This is crazy. Base is too not even is it a year
- 22:07old yet, I'm trying to remember. It's like it did one it's about
- 22:11a year old, about a year old, and it's it's basically going past
- 22:17Finance, which has been in it for eight nine years now. That is
- 22:21insane growth. What do you think about the network effect? What's your opinion
- 22:26on that? Well, I think it helps the you know, Coinbase was
- 22:30not demonized by US corporations, so that probably was really helpful a little bit.
- 22:37And you know, it's all still that Uxui experience. It's so much
- 22:41easier to use coinbase than it is to get on a pancake swap and buy
- 22:45in. It'll take you. You know, I've heard computer engineers say it
- 22:48took up two days to figure out how to buy a BSc token. Oh
- 22:52than got Well, well, that goes back to the whole thing around the
- 22:56onboarding comparison that back in the beginning of the episode on rope is just making
- 23:00it just super simple. If we'erever going to see mass scale and the network
- 23:04effect. It's going to happen that way. Clearly, Bass has kind of
- 23:08proven that. However, there is one guy out there that we all love
- 23:15that says, maybe the network effect doesn't matter. Who do you think that
- 23:19guy would be? The network effect doesn't matter for crypt? I mean cz
- 23:25is he gonna stump for Biden as he's in jail right now though he can't
- 23:27talk. That's a good one. I love that one. All right,
- 23:30Well, I've got it for you. Let's go in and play the clip
- 23:33for Jackie. And you know, so network effects don't mean anything in technology,
- 23:37in economic, political, and social systems means absolutely nothing. So network
- 23:41effects change all the time. And the people that you'd expect to win,
- 23:45whether it be a theorum or bitcoin, you know, here today, gone
- 23:48tomorrow. You know Solana was dead now you know huge amount of growth.
- 23:52Okay, could be dead in twelve months, could grow another five x,
- 23:55ten x. Those are flashes of pan unless you have the right fundamentals.
- 23:59So him suffered from this. They got stuck in a mire. And now
- 24:03they have all these competitors, so they could get my face very quickly.
- 24:06Why Cardono, Well that's what it is that's what we seek to do.
- 24:11Here's what's amazing to me is that Aaron and Austin had kept a straight face
- 24:18on that, because I don't think I would have been able to Charles,
- 24:19what are you talking about? What are you talking? Network effects do not
- 24:23matter? I love that one that should be on a T shirt. Network
- 24:27effects do not matter, Cardono community. This man like bless his heart.
- 24:34Really, I saw he's surprised today that a shit coin named after like his
- 24:40dog is doing really well. Like that just blew his mind. And I
- 24:44think, unfortunately, you have two schools in crypto. You have the dogwiff
- 24:48hat shit coin, zero utility, don't care, send it to billions,
- 24:53and then you have the coded in Haskell Charles Hoskinson, Ada Maxis, and
- 25:02these two do not communicate and they don't understand each other. There's a much
- 25:06smaller pool of the Charles's than there are of the whiffs. Yeah. Yeah,
- 25:11definitely a different world in different orbits, which is fine. All those
- 25:15orbits can coexist in this thing we call crypto. Jackie, it's always fun
- 25:19having you on the show. I love you get your opinion on these things.
- 25:22So thanks again for stopping in today. We appreciate it, my pleasure.
- 25:27All right. All right, you guys, if you're not in the
- 25:30Diamond circle, guess what. We've got some big things happening over there in
- 25:33terms of building our own community on the PBN channel, And all you have
- 25:37to do is jump over to the link down below join. We do a
- 25:41couple more videos over there that don't make it here on YouTube. We do
- 25:44some additional content over there that comes out in email. That's how you can
- 25:48jump in and if you're really cool, you can jump into our air Drop
- 25:52and that's an air Drop summer program that we're doing also through that. So
- 25:56check it out down there on the link you'll find it and follow me on
- 26:00X It's just Appaule Baron. We'll catch you next time right here on Techpath.
- 26:07H m hm