Latest / The Paul Barron Crypto Show / Banks Warning to Crypto? ‘YOU WILL PAY!’🚨Ripple Fires Back!🔥Luca Netz INTERVIEW

Transcript

Banks Warning to Crypto? ‘YOU WILL PAY!’🚨Ripple Fires Back!🔥Luca Netz INTERVIEW · The Paul Barron Crypto Show

• 0:00
  Speaker 1: Clarity continues to put more pressure on the market and
• 0:03
  Speaker 1: is a dark winter coming. Today I'll break it down
• 0:05
  Speaker 1: with you. We're going to have a special guest with
• 0:07
  Speaker 1: Luca Nets to join us here in a minute. We'll
• 0:09
  Speaker 1: get right in. I do want to thank our sponsor today,
• 0:11
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• 0:33
  Speaker 1: Let's get started in today. Before I bring in Luca
• 0:36
  Speaker 1: to kind of get his take on this, I want
• 0:38
  Speaker 1: to play a series of clips for you guys, just
• 0:40
  Speaker 1: to give you an update of some of the things
• 0:43
  Speaker 1: that are happening. Let's start with SOT one. So we've
• 0:46
  Speaker 1: been firm.
• 0:47
  Speaker 2: If you are going to be holding bounces and paying interest,
• 0:49
  Speaker 2: that's the bank. You should be regulated by a bank.
• 0:51
  Speaker 2: But if you want to be a bank, become a bank,
• 0:53
  Speaker 2: then you can do whatever you want, people should take
• 0:55
  Speaker 2: a deep breath. What does you want? And we want competition.
• 0:58
  Speaker 2: You know, we're actually one of the biggest uses. There's a blockchain.
• 1:00
  Speaker 2: It can't you have these people doing one thing, these
• 1:03
  Speaker 2: people do another, and if you do do that, the
• 1:05
  Speaker 2: public will pay. It will get back.
• 1:08
  Speaker 1: Interesting statement, the public will pay coming from Jamie Diamond.
• 1:14
  Speaker 1: That is not where it stopped though. There's a lot
• 1:16
  Speaker 1: happening in some of these round tables and things are
• 1:19
  Speaker 1: getting a little bit dicey. I've got a clip here
• 1:21
  Speaker 1: of Ripple's head of policy. Take a look.
• 1:24
  Speaker 3: These are pretty common sense things to want to be
• 1:26
  Speaker 3: able to provide rewards. So I actually feel that the
• 1:30
  Speaker 3: debate right now is feels a little bit like theater
• 1:36
  Speaker 3: and how do we solve this? How does the movie end?
• 1:40
  Speaker 4: How does the movie end?
• 1:42
  Speaker 2: The movie ends?
• 1:43
  Speaker 4: And I think it's specific from the Ripple perspective, we
• 1:46
  Speaker 4: start looking at the scale of how stable goins is
• 1:49
  Speaker 4: going to be integrated. It will be prudent for traditional
• 1:52
  Speaker 4: finance to come to the table and want to give
• 1:54
  Speaker 4: these benefits to their consumers.
• 1:56
  Speaker 1: WHOA, all right, that's a hammer dropping right there on
• 2:00
  Speaker 1: the banking industry, coming in from Ripple themselves, and they
• 2:03
  Speaker 1: are hitting it in the sense of you should come
• 2:05
  Speaker 1: to the table. These are the kind of opportunities that
• 2:08
  Speaker 1: really reside out there. This puts a lot of pressure
• 2:11
  Speaker 1: not only on the rest of the industry, it's putting
• 2:15
  Speaker 1: pressure now on the administration, so much so that Patrick
• 2:19
  Speaker 1: Witt actually went on to talk about this take a look.
• 2:22
  Speaker 5: The main issue that's been the sticking point is the
• 2:24
  Speaker 5: stable corn rewards and yield. Crypto to their credit has
• 2:27
  Speaker 5: made considerable strides and coming to a compromise position.
• 2:30
  Speaker 1: It's time for the banks.
• 2:31
  Speaker 5: To reciprocate and ultimately strike a deal on this because
• 2:35
  Speaker 5: this is the issue that we believe is the domino
• 2:37
  Speaker 5: that will fall, and then ultimately everything will fall in
• 2:39
  Speaker 5: place after that.
• 2:39
  Speaker 1: All right, so there is the dominoes falling. Of course,
• 2:43
  Speaker 1: much of this I think when you look at the
• 2:45
  Speaker 1: Ripple statement, you look at Jamie Diamond's kind of line
• 2:48
  Speaker 1: in the sand you will pay, this gets really kind
• 2:52
  Speaker 1: of sketchy, and Charles Hoskinson kind of wraps this up
• 2:56
  Speaker 1: with his statements on why he thinks this bill is
• 2:59
  Speaker 1: a no go a.
• 3:00
  Speaker 6: I guess we just have to pass a horrific trash bill.
• 3:04
  Speaker 6: Armstrong can't even get his yield bearing stable coins. Then
• 3:07
  Speaker 6: they say we can always amend the bill later. Then
• 3:09
  Speaker 6: why is there such a rush to pass it?
• 3:11
  Speaker 7: Jesus Christ, use your heads, Gary Gensler plus plus the
• 3:15
  Speaker 7: new model. We're going from the T eight hundred to
• 3:17
  Speaker 7: the T one thousand. Look with metal man, Gary Gensler,
• 3:20
  Speaker 7: walk through bars and the law will be on a side.
• 3:24
  Speaker 7: That's why I'm not supporting this bill. So no bad
• 3:27
  Speaker 7: bill is not better than no bill.
• 3:30
  Speaker 1: All right, So there you go. Bad bill not better
• 3:31
  Speaker 1: than no bill. So I wanted to bring in Luca
• 3:34
  Speaker 1: Nettes because I want a different opinion and stance on
• 3:38
  Speaker 1: where the market is. Luka, welcome back to the show.
• 3:40
  Speaker 8: How are you hey, Paul? Happy to be here. Pleasure
• 3:43
  Speaker 8: as always.
• 3:44
  Speaker 1: Last time I had you on this ominous headline was
• 3:47
  Speaker 1: put on the thumb, not necessarily intending for anything like
• 3:51
  Speaker 1: this to happen. But of course winter is now here
• 3:55
  Speaker 1: and we are facing some pretty big deals. Do you
• 3:57
  Speaker 1: support passing this bill now without yield? What's your position?
• 4:02
  Speaker 9: I actually think Charles might be pulling an interesting thread.
• 4:05
  Speaker 9: I think the bill needs to be right. I think
• 4:07
  Speaker 9: the right bill is going to change crypto forever, and
• 4:10
  Speaker 9: I think a bill like the Clarity Act needs to
• 4:12
  Speaker 9: be passed, but it obviously needs to be passed with
• 4:15
  Speaker 9: the right guidance. I think one of the biggest achilles
• 4:17
  Speaker 9: heels for crypto over the last fifteen years has been
• 4:20
  Speaker 9: the lack of clarity and everybody's kind of operating in
• 4:23
  Speaker 9: a gray zone. And as an entrepreneur with integrity, you
• 4:26
  Speaker 9: want to be able to operate not in a gray
• 4:28
  Speaker 9: zone or a black zone. You want to be operating,
• 4:31
  Speaker 9: you know, above board, but without any legislation or any
• 4:34
  Speaker 9: place to kind of anchor off of basically what you're
• 4:38
  Speaker 9: doing there.
• 4:39
  Speaker 8: It's just a great area in perpetuity.
• 4:41
  Speaker 9: And I think the Clarity Act specifically speaks to the
• 4:44
  Speaker 9: clarity that it is supposed to provide entrepreneurs, investors, builders,
• 4:49
  Speaker 9: you know, people participating actively in the space.
• 4:51
  Speaker 8: And I think the right bill could.
• 4:54
  Speaker 9: Basically take, I think, take crypto ultimately to where I
• 4:57
  Speaker 9: think it's going to go, which is, you know, as
• 4:59
  Speaker 9: the fineinancial infrastructure for the Internet. But I do agree
• 5:03
  Speaker 9: that I think is currently constructed. There's a couple of
• 5:05
  Speaker 9: nuances in there that need to be adjusted, But principally
• 5:08
  Speaker 9: I think we're marching in the right direction, but it
• 5:11
  Speaker 9: does need to be the right bill, and I think
• 5:12
  Speaker 9: the wrong bill could actually be more harmful.
• 5:15
  Speaker 1: Look of where does this clarity, especially in the frame
• 5:19
  Speaker 1: that it is right now, affect you guys at Pudgie Penguins.
• 5:22
  Speaker 9: The parts that I think are getting pushed back, specifically
• 5:26
  Speaker 9: from the exchanges and some of the big financial movers,
• 5:28
  Speaker 9: aren't necessarily as relevant to us, I'd probably say, is
• 5:31
  Speaker 9: currently constructed, it would be something that I think would
• 5:35
  Speaker 9: benefit us in the sense of, you know, being able
• 5:38
  Speaker 9: to delineate what an.
• 5:39
  Speaker 8: NFT, what category of mean coin falls under, etc.
• 5:43
  Speaker 9: There's you know, already language in there that is beneficial
• 5:48
  Speaker 9: towards us.
• 5:49
  Speaker 8: But I think, you know, being.
• 5:50
  Speaker 9: Beneficial towards pudgy Penguins and harmful to some of the
• 5:53
  Speaker 9: biggest institutions is not necessarily I think positive ev for
• 5:56
  Speaker 9: all of crypto. And so though I think as currently
• 5:59
  Speaker 9: constructed it puts us and gives us the clarity that
• 6:02
  Speaker 9: we need based on our organizations wants and needs, I
• 6:05
  Speaker 9: think it does harm some of the bigger institutions. And
• 6:08
  Speaker 9: this definitely needs to be a legislation that raises all
• 6:12
  Speaker 9: the tides, not just one.
• 6:13
  Speaker 1: When you look at the opportunity here, when you think
• 6:16
  Speaker 1: about things you guys could do, especially maybe around revenue
• 6:20
  Speaker 1: sharing mechanisms for pengu That is one of the utility
• 6:23
  Speaker 1: components that we've started to see other projects really lean into.
• 6:26
  Speaker 1: Would that be something that you guys would do.
• 6:28
  Speaker 8: Yeah, I have a dream that we can ideo.
• 6:34
  Speaker 9: Pudgie Penguins and the whole IGLU organization, and I would
• 6:37
  Speaker 9: love to benefit our coreholder base, or I would love
• 6:40
  Speaker 9: our core holder base to benefit from.
• 6:41
  Speaker 8: Some thing like that.
• 6:43
  Speaker 9: Obviously, revenue sharing in an essentialized manner really be stopped.
• 6:47
  Speaker 8: But revenue sharing and the.
• 6:48
  Speaker 9: Idea of you have a token, learn you can distribute
• 6:51
  Speaker 9: revenues very much defines a security and passes the Howie test.
• 6:55
  Speaker 9: What can happen here is if this bill is done
• 6:58
  Speaker 9: right all of the on some needs of retail investors,
• 7:03
  Speaker 9: you know, in terms of you know, you've heard the
• 7:06
  Speaker 9: narratives over the years of what could be possible. The
• 7:09
  Speaker 9: hope would be that floodgate opens and you can basically
• 7:12
  Speaker 9: align everybody in a way that has never been done
• 7:14
  Speaker 9: before and kind of treat this stuff like you know,
• 7:18
  Speaker 9: global borderless you know, stocks almost that would be the
• 7:22
  Speaker 9: perfect scenario. You know, if we get there, who knows.
• 7:26
  Speaker 9: There's definitely some language in there that moves us in
• 7:28
  Speaker 9: the right direction. But again, I also think there's some
• 7:31
  Speaker 9: harmful language for some of our bigger institutions that I
• 7:33
  Speaker 9: think could hold us back in a really meaningful way.
• 7:35
  Speaker 1: If it doesn't pass, neither side can really come to
• 7:39
  Speaker 1: an impasse here. What would that do to the market.
• 7:42
  Speaker 1: Is this going to be a darker crypto winter kind
• 7:45
  Speaker 1: of heading into the summer.
• 7:46
  Speaker 8: Yeah.
• 7:47
  Speaker 9: I think whatever crypto, whatever bad be Crypto got.
• 7:51
  Speaker 8: We got it on ten ten.
• 7:52
  Speaker 9: I think any any speculative leverage and any flushings that
• 7:56
  Speaker 9: we're supposed to happen, you know, if the Clarity Act
• 7:58
  Speaker 9: weren't to pass, you know, the infamous Reddit post. I'm
• 8:01
  Speaker 9: sure your audience is familiar, but it seems so. I mean,
• 8:05
  Speaker 9: at this point, this guy on Redd, it just seems
• 8:07
  Speaker 9: like a bull's eye. We just need to be tailing him.
• 8:09
  Speaker 9: It sounds like, according to that which the data kind
• 8:12
  Speaker 9: of supports those timelines, it'll be in till.
• 8:15
  Speaker 8: October that we will see a bull run.
• 8:17
  Speaker 9: You know, if the Clarity Act doesn't pass or it
• 8:20
  Speaker 9: gets stalemated, it's probably a good reason for us to
• 8:23
  Speaker 9: take one leg lower, but I'd probably assume that that
• 8:25
  Speaker 9: leg lower is going to be probably the final flush
• 8:28
  Speaker 9: before the new cycle kind of starts.
• 8:30
  Speaker 1: Here Again, Listen, everybody got upset with other things that
• 8:34
  Speaker 1: are happening in the market, one of course with Calshie
• 8:36
  Speaker 1: and their adjustment around Komini, and then this website jumps up.
• 8:43
  Speaker 1: I don't know if you've seen this. This is talking
• 8:45
  Speaker 1: about Calshie going at it, and this is a problem
• 8:48
  Speaker 1: because it's creating this new narrative out there, and it's
• 8:53
  Speaker 1: like as if projects are actively trying to take yields
• 8:56
  Speaker 1: and now we've got the US government try to take
• 8:58
  Speaker 1: yields off of stay coins. When you look at that,
• 9:01
  Speaker 1: are every company out there going in this direction or
• 9:04
  Speaker 1: do you feel like this is just a one off
• 9:06
  Speaker 1: issue that they're facing right now.
• 9:08
  Speaker 8: No, I think you know.
• 9:09
  Speaker 9: It's it's kind of a paradoxical conundrum that I think
• 9:13
  Speaker 9: we're dealing with because on one side of the spectrum,
• 9:16
  Speaker 9: everyone wants crypto to become more legitimate, But to become
• 9:19
  Speaker 9: more legitimate you have to operate a real business, and
• 9:21
  Speaker 9: operating a real business, and the pipe dream of decentralization
• 9:24
  Speaker 9: and what comes with all of those mechanics, they kind
• 9:27
  Speaker 9: of interfere, and so.
• 9:29
  Speaker 8: It's either one or the other.
• 9:30
  Speaker 9: You're either going to have, you know, crypto become this
• 9:32
  Speaker 9: borderless you know, internet technology and financial instrument for AI
• 9:37
  Speaker 9: agents and the world to kind of participate in free markets,
• 9:41
  Speaker 9: and people are going to have to start be building
• 9:43
  Speaker 9: real tangible businesses and making money doing so, or we're
• 9:46
  Speaker 9: going to continue in this And you can probably tell
• 9:49
  Speaker 9: by my language which bias I sit on. But kind
• 9:51
  Speaker 9: of in this circle jerk of you know, everybody gets
• 9:53
  Speaker 9: a piece of the pie. Unfortunately, it just doesn't work
• 9:56
  Speaker 9: the way that you would dream. And in a perfect society,
• 9:59
  Speaker 9: in a perfect situation, and everyone could get every every
• 10:02
  Speaker 9: fee that is generated from these businesses and gets distributed
• 10:05
  Speaker 9: pro rata to their holdings, and we could all be
• 10:08
  Speaker 9: you know, running serendipitously. But you know, caw, she has
• 10:11
  Speaker 9: an eleven billion dollar valuation. You know, a crewing interest
• 10:15
  Speaker 9: is a real business model, as Tedler has shown us,
• 10:17
  Speaker 9: probably the best business in the world per employee.
• 10:20
  Speaker 8: One of the big one of the big floodgates.
• 10:22
  Speaker 9: Where I think everybody's rushing to is actually these yields,
• 10:25
  Speaker 9: because if you can create big balances of these stable coins,
• 10:27
  Speaker 9: then you can capture those yields without giving those yields
• 10:29
  Speaker 9: back to your users.
• 10:31
  Speaker 8: You know that that's a I mean, there's plenty.
• 10:34
  Speaker 9: Of businesses now in crypto that are standing up that
• 10:36
  Speaker 9: are adding this feature to their stack and you know,
• 10:38
  Speaker 9: adding a fifty million dollars a year revenue line. So
• 10:41
  Speaker 9: it's a it's a conundrum to say the least. You know,
• 10:43
  Speaker 9: do I think cow she's disingenuous for capturing interest. I
• 10:48
  Speaker 9: don't know if polymarket gives the interest back. Maybe it does.
• 10:51
  Speaker 9: I'm actually not as keen on the prediction markets as
• 10:54
  Speaker 9: maybe I should be. You know, as long as they
• 10:56
  Speaker 9: didn't say anything otherwise, I don't necessarily look at it
• 10:59
  Speaker 9: as stealing.
• 11:00
  Speaker 8: Look at it is just a function of their business.
• 11:02
  Speaker 1: Well poly market does do that, you know, so they
• 11:04
  Speaker 1: are giving the interspect so that that's the uniqueness. I
• 11:07
  Speaker 1: think they're just pushing I think a lot of the
• 11:09
  Speaker 1: dj in community into the arms of polymarket. Really if
• 11:12
  Speaker 1: you look at what has happened with Calci and not
• 11:15
  Speaker 1: knocking on Calci, but it was a big error I
• 11:18
  Speaker 1: think on theirs. Anytime you have those kind of situations
• 11:20
  Speaker 1: that occur. Unfortunately, just like any other business. Listen, every
• 11:23
  Speaker 1: business makes a brand mistake out there. There's many others
• 11:26
  Speaker 1: that have done it.
• 11:27
  Speaker 8: You know.
• 11:28
  Speaker 9: You got to look at the ethos though, right Like
• 11:30
  Speaker 9: Shane is crypto native, Polymarkets built on the backs of
• 11:33
  Speaker 9: crypto calshe is a y combinator, incubated, you know, startup.
• 11:38
  Speaker 8: You know, they are.
• 11:40
  Speaker 9: Functionally two different principles. Cal she is the web two
• 11:42
  Speaker 9: prediction market. Polymarket is the web. Everyone does not surprise
• 11:46
  Speaker 9: me that Shane is giving the yield back to his users.
• 11:48
  Speaker 9: It's the right decision, uh you know, but you know,
• 11:51
  Speaker 9: I also know Polymarket's going to have a token and
• 11:53
  Speaker 9: it's going to air drop, you know, bajillions of dollars
• 11:55
  Speaker 9: to people. Caw, she has none of those things in
• 11:57
  Speaker 9: the roadmap. But that's why I think polymarkets ultimately going
• 12:01
  Speaker 9: to win. It is the prediction market of the people,
• 12:03
  Speaker 9: for the people, by the people. And Chaine's going to
• 12:05
  Speaker 9: make everybody very successful because of that ethos. And it's
• 12:09
  Speaker 9: just a two different principles and how I think the
• 12:11
  Speaker 9: two founders build one.
• 12:13
  Speaker 8: Is not necessarily worse than the other.
• 12:15
  Speaker 9: But I do agree with Shane's and that's where I
• 12:16
  Speaker 9: would align and that's what I would do if I.
• 12:18
  Speaker 1: Was in Let's talk about NFTs. Magic Eden made a
• 12:21
  Speaker 1: big move here, shutting down it's ethereum and bitcoin NFT markets.
• 12:25
  Speaker 1: This is happening now. They're moving into more of an
• 12:28
  Speaker 1: online casino platform, which is a bit dicey. I would
• 12:31
  Speaker 1: agree with that. And you look at what's happening right
• 12:33
  Speaker 1: here because even NASDAK is now moving into casino markets
• 12:36
  Speaker 1: with you look at prediction markets being exposed out there.
• 12:40
  Speaker 1: Are NFTs officially dead or do you feel like this
• 12:42
  Speaker 1: is just a next evolution that the market is developing now.
• 12:46
  Speaker 9: I think the NFTs are going through its four year
• 12:49
  Speaker 9: bare cycle and we're probably at the end of it now.
• 12:51
  Speaker 9: I will, you know, steal man argument, or at least
• 12:54
  Speaker 9: I'll create the argument as to why somebody might think
• 12:57
  Speaker 9: they're dead. You know, TCGs are going through the roof trading,
• 12:59
  Speaker 9: card game, Pokemon, Ugoh, sports cars and the lot and
• 13:03
  Speaker 9: last time we saw the physical collectible market do what
• 13:06
  Speaker 9: it did, NFTs ran with it and went even more parabolic.
• 13:09
  Speaker 9: So there's definitely a discrepancy. But I think to be frank,
• 13:12
  Speaker 9: crypto in general all coins, and outside of the big
• 13:15
  Speaker 9: couple of tokens and the couple outliers and the all
• 13:18
  Speaker 9: coin market, it's been a jaded market these last couple
• 13:20
  Speaker 9: of years. Even I think most people can't even believe
• 13:22
  Speaker 9: the bowl market is over, at least for probably the
• 13:24
  Speaker 9: next couple of months, because it even feel.
• 13:26
  Speaker 8: Like a real goal market. But at the end of
• 13:28
  Speaker 8: the day, I think digital collectibles will win.
• 13:31
  Speaker 9: The collectible market is I think a fifty billion dollar,
• 13:34
  Speaker 9: five hundred billion dollar market. One percent of it is
• 13:37
  Speaker 9: digital collectibles, ninety nine percent of it is physical. Yet
• 13:40
  Speaker 9: digital collectibles have no authenticity issues, no spoofing issues, no
• 13:44
  Speaker 9: friction when buying or selling. No matter what you what
• 13:47
  Speaker 9: side of the spectrum you believe, or if you believe
• 13:49
  Speaker 9: in digital collectibles or not, I think we can all
• 13:51
  Speaker 9: agree in an era of AI and AI agents and
• 13:55
  Speaker 9: digital relics, you know, the collectible market should not be
• 13:59
  Speaker 9: ninety nine to zero in favor of physical and.
• 14:01
  Speaker 8: That gap will close.
• 14:03
  Speaker 9: Will that be ninety ten, will it be eighty twenty,
• 14:05
  Speaker 9: Who knows, but it won't be ninety nine to one.
• 14:08
  Speaker 9: And there's a lot of market cap and a lot
• 14:10
  Speaker 9: of growth, and that spread as that market, those markets converge,
• 14:14
  Speaker 9: and I believe that you will see digital collectibles win
• 14:17
  Speaker 9: once again.
• 14:18
  Speaker 1: Well, and I think you look at some of the
• 14:20
  Speaker 1: things that are happening right now around which segment seems
• 14:24
  Speaker 1: to be pushing, you know through right now and again
• 14:26
  Speaker 1: prediction markets kind of covering the gambit here. But you
• 14:30
  Speaker 1: think this is just a cycle issue right now, even
• 14:32
  Speaker 1: with NFTs.
• 14:34
  Speaker 9: I bought Pudgie Penguins exactly four years ago on April third,
• 14:38
  Speaker 9: so in one month it will be four years. Basically,
• 14:41
  Speaker 9: the bear market for NFT started two months after that.
• 14:44
  Speaker 9: Right ward apes were still in eighty eighth ninety eighth
• 14:46
  Speaker 9: when I was there, are still working hundreds of thousands
• 14:48
  Speaker 9: of dollars. So I think like we just wanted them
• 14:51
  Speaker 9: to be time the same, but they're not and they.
• 14:54
  Speaker 8: Will be back there.
• 14:55
  Speaker 1: You go, I want to play a clip. Because the Japanese,
• 14:57
  Speaker 1: which is a big market for digital collect they came
• 15:00
  Speaker 1: up with a very clever solution. Take a look.
• 15:04
  Speaker 10: Forget complex DeFi screens. We designed it to be as
• 15:08
  Speaker 10: simple as tinder. Just wipe lift or right and your
• 15:12
  Speaker 10: own chain index is lady. In second, you can create
• 15:15
  Speaker 10: cool liftostock commodity and prediction ETFs. This is petting dialectory
• 15:21
  Speaker 10: or natives. Imagine one of those three heading e EDF
• 15:26
  Speaker 10: in one's wife. You can combine gold, defense stocks, bitcoin,
• 15:31
  Speaker 10: and pod cup prediction tokens.
• 15:33
  Speaker 1: Anyone can launch this not to fund in second, What
• 15:37
  Speaker 1: do you think about that?
• 15:38
  Speaker 9: I think there's a lot of products like that coming
• 15:40
  Speaker 9: out of the world. I've known some hip three, some
• 15:42
  Speaker 9: hyper liquid extensions that are building in Vain. I know
• 15:45
  Speaker 9: you're seeing some American consumer apps. Interested to see that,
• 15:49
  Speaker 9: you know you specifically, you know, reference a Japanese clip
• 15:52
  Speaker 9: because you know, to be Frank, I'm as in tune
• 15:54
  Speaker 9: with the Japanese builders as I probably should be. The
• 15:56
  Speaker 9: Japanese cryptocultures siloed but huge. So it's fascinating. I mean,
• 16:02
  Speaker 9: look like where the world is going for the regular person.
• 16:06
  Speaker 9: We won't get into the AI conversation, but I believe
• 16:08
  Speaker 9: the rich are going to get a lot richer, and
• 16:11
  Speaker 9: the middle class are going to become the poor class.
• 16:13
  Speaker 9: And in that bucket of being a poor person or somebody.
• 16:18
  Speaker 8: Who's you know, not rich per se, you know, the
• 16:21
  Speaker 8: way out is going to be making bets.
• 16:23
  Speaker 9: These are making bets on stocks, making bets on tokens,
• 16:26
  Speaker 9: making bets on a slot. The world is unfortunately going
• 16:29
  Speaker 9: in that direction because it's human nature to want to
• 16:32
  Speaker 9: climb out of the bucket, and new iterations and new
• 16:35
  Speaker 9: versions of you know, how people speculate and make bets
• 16:38
  Speaker 9: are probably going to see the highest upside over the
• 16:40
  Speaker 9: next ten to fifteen years. I think most people listening
• 16:43
  Speaker 9: would probably agree.
• 16:44
  Speaker 1: What about you know, more dejon innovations. Do you think
• 16:47
  Speaker 1: companies are going to come out with more innovative products
• 16:51
  Speaker 1: and services beyond what we have seen so far or
• 16:53
  Speaker 1: do you think it's going to kind of stop with
• 16:55
  Speaker 1: prediction mark totally.
• 16:56
  Speaker 8: That's where the TAM is going to grow because.
• 16:58
  Speaker 9: I think theeople who are going to become degenerates is
• 17:01
  Speaker 9: going to increase stance.
• 17:03
  Speaker 8: But to capture their mind share, you're.
• 17:05
  Speaker 9: Going to have to have something interesting, right, and something novel,
• 17:09
  Speaker 9: and that's where I think people are going to innovate.
• 17:11
  Speaker 1: All right, Well, that's I'm in agreement with you with that.
• 17:13
  Speaker 1: I think innovation is going to start there because you're
• 17:15
  Speaker 1: going to see such a coalestion of so many people
• 17:18
  Speaker 1: coming into that we're going to go into a lightning
• 17:20
  Speaker 1: round with you quick questions give me your yes. No,
• 17:24
  Speaker 1: Pudgy should represent retail in the Clarity roundtables. What do
• 17:27
  Speaker 1: you think? I think so too. I think you guys
• 17:30
  Speaker 1: have a definite line on where retail sentiment is. You
• 17:35
  Speaker 1: know the power of the people, So we need to
• 17:37
  Speaker 1: get you in DC a little bit more stable. Point
• 17:39
  Speaker 1: fight should be decided in Mortal Kombat.
• 17:45
  Speaker 8: In a perfect world.
• 17:46
  Speaker 1: Yeah, a perfect world. That would be the only way
• 17:48
  Speaker 1: to do it right. I'm with you on that one too.
• 17:52
  Speaker 1: I think I think we're both in agreement. Magic one.
• 17:55
  Speaker 1: What would you vanish?
• 18:00
  Speaker 8: These are fun?
• 18:01
  Speaker 1: We think too much alike on these mister Bees and Luca.
• 18:06
  Speaker 1: You're going to do a collab in twenty six what
• 18:07
  Speaker 1: do you think?
• 18:08
  Speaker 8: Maybe I put yes? Why not?
• 18:10
  Speaker 1: Oh yeah? All right, So Jimmy, I know you're watching that.
• 18:13
  Speaker 1: We're going to put you right there with Luca and
• 18:15
  Speaker 1: we got a collab brewing. That'll be an interesting one too.
• 18:18
  Speaker 1: It'll definitely be creative. Base app was an epic fail.
• 18:21
  Speaker 1: We all know that any future attempt will be made
• 18:24
  Speaker 1: with bad taste.
• 18:25
  Speaker 8: Base App was a fail.
• 18:27
  Speaker 9: But I hate saying that amazing builders fail because I
• 18:30
  Speaker 9: think they're the best. But elephant in the room as
• 18:33
  Speaker 9: it did, and I've failed many times when it's ten
• 18:35
  Speaker 9: things and failed at so.
• 18:36
  Speaker 8: It was a fail.
• 18:38
  Speaker 9: Any future attempts will be made with bad taste, I
• 18:41
  Speaker 9: would say yes, up until they're recent higher. They hired
• 18:44
  Speaker 9: a new head of design, consumer product, consumer product app guy.
• 18:48
  Speaker 9: My creative guys are saying they just hired one of
• 18:50
  Speaker 9: the best guys in the world. I believe them, so
• 18:53
  Speaker 9: yes on the first question. I think even the biggest
• 18:57
  Speaker 9: Base bulls would tell you that, and the future one
• 19:00
  Speaker 9: will not be made with bad taste because I think
• 19:02
  Speaker 9: they hired the right guy to make sure that the
• 19:04
  Speaker 9: future builds are tasteful.
• 19:06
  Speaker 1: Okay, well that is news to me because I was
• 19:08
  Speaker 1: not aware of that. I talked to quite a few
• 19:10
  Speaker 1: of the coin base guys. So if they were able
• 19:12
  Speaker 1: to snag a big hire, huh.
• 19:14
  Speaker 8: Okay in a world and you'll appreciate this, But in
• 19:17
  Speaker 8: a world with AI, taste and distribution are the only.
• 19:20
  Speaker 1: Most huge right, Yeah, it is no.
• 19:22
  Speaker 8: Longer the thing. Do you have taste? And does it
• 19:23
  Speaker 8: look good? Those guys are going to be worth their way.
• 19:26
  Speaker 1: That is so true. That is so true. Meta builds
• 19:29
  Speaker 1: a better crypto social app than Coinbase by twenty thirty.
• 19:32
  Speaker 1: So we got a few years here. But do you
• 19:34
  Speaker 1: think we'll see a good crypto social app come from
• 19:36
  Speaker 1: one of the majors?
• 19:37
  Speaker 9: I know, not from one of the majors. I think
• 19:38
  Speaker 9: you're seeing it right now in Fomo. Trifomo is probably
• 19:41
  Speaker 9: the best crypto social app ever made. And I think
• 19:44
  Speaker 9: these guys are going to win by a smile. Coinbases
• 19:47
  Speaker 9: not build good product. They're infamous for not being good
• 19:49
  Speaker 9: product builders. So I just don't believe Meta is going
• 19:52
  Speaker 9: to build it just trading social app. But if Meta
• 19:54
  Speaker 9: were to do it, they would do it one hundred
• 19:56
  Speaker 9: times better than coinbase.
• 19:57
  Speaker 1: I'll say, yes and yes, all right, we got that one. Okay,
• 20:02
  Speaker 1: here we go. Crypto Twitter is losing djen sentiment with
• 20:04
  Speaker 1: every new policy. Have you been watching all the drama
• 20:07
  Speaker 1: on Twitter?
• 20:08
  Speaker 8: I had, But it might be a good thing.
• 20:10
  Speaker 9: Oh really, some of these policy changes will turn I
• 20:14
  Speaker 9: think more of the bad actors away than it will
• 20:16
  Speaker 9: turn the good actors away. So you will figure more
• 20:19
  Speaker 9: negatives than lose on the positives.
• 20:22
  Speaker 1: Because I'm on the fence of that, they're they're losing
• 20:25
  Speaker 1: some dj sentiment, but it might be losing the right
• 20:27
  Speaker 1: dgen sentiment, which is only a certain sector because there's
• 20:31
  Speaker 1: a lot of really good quality DGEN sentiment out there
• 20:35
  Speaker 1: as well as projects that are are true and very innovative,
• 20:39
  Speaker 1: and I think those are the ones that can really
• 20:41
  Speaker 1: win here. So maybe to your point, what they're doing
• 20:43
  Speaker 1: over there could be on q CZ should be in
• 20:46
  Speaker 1: charge of crypto Twitter policy.
• 20:48
  Speaker 9: Probably not now, somebody should be cryptoct Twitter policy.
• 20:52
  Speaker 8: But CZ would tell you he's not the right guy
• 20:55
  Speaker 8: for it. That's right, that's why.
• 20:56
  Speaker 1: But we need someone native, We need someone native in
• 20:59
  Speaker 1: there to that who is more convincing. Corporo djen Lad Tene. Yeah, okay,
• 21:04
  Speaker 1: I'm an agreement. I'm going to agree with that. Vlad's definitely
• 21:07
  Speaker 1: more convincing on that GTA features in game prediction markets.
• 21:10
  Speaker 1: Do you think it happen?
• 21:11
  Speaker 8: Yes?
• 21:12
  Speaker 1: Okay, all right, we're in the same book. Here's a
• 21:14
  Speaker 1: couple more, hopefully North Korea hacks World Liberty five.
• 21:17
  Speaker 9: Oh no, no, no.
• 21:21
  Speaker 8: I some guys might not like them. I love those.
• 21:24
  Speaker 1: Guys, Okay, why do you love them? Why do you
• 21:26
  Speaker 1: love them?
• 21:27
  Speaker 9: Because I think they're actually trying to do it the
• 21:30
  Speaker 9: right way, and I think you saw that with USD one.
• 21:33
  Speaker 9: I think USD one really flipped I think public perception
• 21:36
  Speaker 9: on how people look at World Liberty five because it's
• 21:39
  Speaker 9: very clear they're trying to build a huge and real
• 21:42
  Speaker 9: organization and not just trying to you know, play off
• 21:46
  Speaker 9: the Trump name. They're they're really building a business over there.
• 21:50
  Speaker 9: And I went to the World Liberty Forum in mar
• 21:52
  Speaker 9: A Lago a week or two ago. Okay, hands down
• 21:55
  Speaker 9: as conference, best group of people I've ever been to
• 21:57
  Speaker 9: in four years and I've been to every conference.
• 21:59
  Speaker 8: Wow. So they're making the right players.
• 22:01
  Speaker 9: They're trying to get tradify really in deep, and they're
• 22:04
  Speaker 9: trying to build a real product with real integrity, unbeknownst
• 22:08
  Speaker 9: to maybe some, but I am a huge supporter.
• 22:11
  Speaker 1: Interesting, Okay, government could claw back some locked Trump tokens
• 22:14
  Speaker 1: here and air drop them as a memes relief status.
• 22:17
  Speaker 8: What do you think it would be funny? You know,
• 22:18
  Speaker 8: I'm gonna be honest with you a move.
• 22:20
  Speaker 9: If Trump did do like a worldwide, country wide air
• 22:24
  Speaker 9: drop Trump mean coin probably would be worth a hundred
• 22:27
  Speaker 9: times more than it's worth today. They could have told
• 22:30
  Speaker 9: that story perfectly. They could have done something at pic,
• 22:33
  Speaker 9: at least on the Trump meme coin side. Yeah, you know,
• 22:36
  Speaker 9: turned out to probably be a big win for them,
• 22:38
  Speaker 9: But yeah, I think it.
• 22:39
  Speaker 1: Could have been a Penguins should should apply for some
• 22:42
  Speaker 1: terif Rey funds and then do it air drop.
• 22:44
  Speaker 9: Sure we probably won't get any though, even though I
• 22:46
  Speaker 9: think cancer is for twenty cents.
• 22:48
  Speaker 8: On the dollar.
• 22:49
  Speaker 1: Yeah, well there, that's my point is a lot of tariffs.
• 22:52
  Speaker 8: I paid a million bucks in tariffs at least, so
• 22:55
  Speaker 8: if if I go there, you go, we'll pay through
• 22:57
  Speaker 8: a big part.
• 22:58
  Speaker 1: Are you so Coucy's I ran to decision proves they
• 23:00
  Speaker 1: lost the plot? Do you think that is the case.
• 23:02
  Speaker 8: Yeah, they lost the plot for sure. Yeah.
• 23:04
  Speaker 1: Unfortunate. Yeah, uh, here's a good one. Back to your point,
• 23:08
  Speaker 1: the Pokemon thirtieth anniversary eating all the DJ in collector
• 23:11
  Speaker 1: oxygen away from NFTs. Do you think that is the case.
• 23:15
  Speaker 9: It's eating some, but it's not a zero sum game,
• 23:17
  Speaker 9: especially between physical and digital, you know, any speculative capital
• 23:22
  Speaker 9: that you know, I'm seeing a lot of the big
• 23:23
  Speaker 9: NFT whales you know in TCG. So they're they're they're
• 23:27
  Speaker 9: getting their dopamine somewhere and they're not they're not trying
• 23:30
  Speaker 9: to get it in the digital collectible round.
• 23:32
  Speaker 8: But they will come.
• 23:33
  Speaker 1: Okay, so you're more on the No, I'm more on
• 23:35
  Speaker 1: the I think it is right now. I just look
• 23:37
  Speaker 1: at you, look at the Kevin O'Leary's who's out there
• 23:40
  Speaker 1: trying to do this with with what we're talking about now.
• 23:43
  Speaker 1: And I think the big deal was when you know,
• 23:46
  Speaker 1: Logan's card went over the top. It changed the game
• 23:49
  Speaker 1: a little bit for everybody. They just look at it different,
• 23:52
  Speaker 1: you know, in terms of a class of assets like that.
• 23:55
  Speaker 1: All right, so we got a video. We're gonna play it,
• 23:58
  Speaker 1: and then I want to get your opinion, because you're
• 24:00
  Speaker 1: a good brand guy. You can pick this stuff out.
• 24:02
  Speaker 1: Is it a is a genius or epic fail? Let's
• 24:04
  Speaker 1: play that video.
• 24:05
  Speaker 9: The video posted on Instagram now has more than three
• 24:08
  Speaker 9: million views.
• 24:09
  Speaker 1: And take a look at the moment everyone is talking
• 24:11
  Speaker 1: about the big bite. I love this product. It is
• 24:14
  Speaker 1: so good.
• 24:15
  Speaker 11: Here we go first, holy cow, quarter pound patties, a
• 24:19
  Speaker 11: delicious big arch sauce.
• 24:22
  Speaker 1: Some sort of cheese product.
• 24:24
  Speaker 11: First of all, let's try to get this thing. I
• 24:26
  Speaker 11: don't even know how to attack it got so much
• 24:29
  Speaker 11: to it.
• 24:33
  Speaker 8: All right, the moment of truth.
• 24:38
  Speaker 1: That's a big bite for a big arch shots this shot.
• 24:44
  Speaker 9: You see him flutter his eyes, so there's actually a
• 24:47
  Speaker 9: little bit of stress there.
• 24:48
  Speaker 11: It's distinctively McDonald's. Only McDonald's could do this type of burger.
• 24:53
  Speaker 11: People are now re enacting them with surprising accuracy.
• 24:57
  Speaker 8: Of churs k.
• 24:57
  Speaker 9: You're CEO of McDonald's, Chris k here, and I got it.
• 25:02
  Speaker 10: We've tested this product and humans love it.
• 25:06
  Speaker 9: And I got to say, it's authentically McDonald's, but distinctly Chinese.
• 25:13
  Speaker 1: Stick to me and scoop spit swoop, maybe he love.
• 25:21
  Speaker 8: Maybe that's what this is.
• 25:22
  Speaker 3: Something y'all could have kept in archives because we the
• 25:25
  Speaker 3: people did not need to see these.
• 25:27
  Speaker 1: So there, Okay, was it? It went viral? Hey, if
• 25:30
  Speaker 1: that's one thing. Uh, you got to say, I don't
• 25:33
  Speaker 1: know if it was genius. Do you think it was nothing? Genius?
• 25:38
  Speaker 1: Epig fail? Okay, all right?
• 25:39
  Speaker 8: Without making them look like a bunch of drones.
• 25:41
  Speaker 9: And you asked that guy if you would have done
• 25:43
  Speaker 9: that video again, he would have said, hell no, I
• 25:48
  Speaker 9: don't know. I saw some I saw this video, and
• 25:49
  Speaker 9: I saw some guys trying to spin it like it
• 25:51
  Speaker 9: was genius. And I just couldn't believe that anybody was
• 25:54
  Speaker 9: trying to spin it like it was genius.
• 25:55
  Speaker 8: The food looked like trash, he looked like.
• 25:58
  Speaker 9: A drone without a rotor, And there's nothing genius about
• 26:02
  Speaker 9: it outside of some free impressions. But I guess the
• 26:04
  Speaker 9: genius guys the argument that they were making was all
• 26:07
  Speaker 9: impressions or good impressions.
• 26:09
  Speaker 8: I don't think. I don't think of that video not necessarily.
• 26:11
  Speaker 1: Well, okay, well we have a fix for that. We
• 26:14
  Speaker 1: think Pudgy and McDonald's should do a campaign one hundred percent.
• 26:19
  Speaker 1: You can go fix this problem. Yeah, I like it, Luca.
• 26:23
  Speaker 1: I'm on your side there, man. That would be a
• 26:25
  Speaker 1: that would be an epic one if we can, if
• 26:27
  Speaker 1: we can let the creatives in the room, as.
• 26:29
  Speaker 8: They say, we got to get it done.
• 26:31
  Speaker 1: Let's get it done. I like it. Hey, I love
• 26:33
  Speaker 1: to get your take on this because we you know,
• 26:35
  Speaker 1: a lot of times we get talking heads from DC
• 26:37
  Speaker 1: and lobby groups and all that, but we want people
• 26:38
  Speaker 1: who are in the trenches to tell us a little
• 26:41
  Speaker 1: bit what's happened out there in the market. So thanks
• 26:43
  Speaker 1: for coming in today. We appreciate it.
• 26:44
  Speaker 8: Thank you, Paul Pleasures always.
• 26:52
  Speaker 1: If you like this video, like and subscribe, drop a
• 26:55
  Speaker 1: comment down below, and also join our free private member group.
• 26:58
  Speaker 1: The link is in the description