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NASDAQ Down, Pop Star Index Up! · Armstrong & Getty One More Thing

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  Speaker 1: The nasdag down today, but the Hot pop Star indexes up. Bye,
• 0:04
  Speaker 1: it's one more thing.
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  Speaker 2: I'm strung and getty, one more thing. I have two
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  Speaker 2: comments before we get to that one. It's my oldest
• 0:15
  Speaker 2: son's birthday, which means his birthday coincides with how long
• 0:20
  Speaker 2: I've been a parent. I speak for all parents on
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  Speaker 2: every time their kid has a birthday, whether it's two, twelve,
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  Speaker 2: twenty two, or fifty two, you can't believe that they're
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  Speaker 2: whatever age it is. It's just you just can't believe.
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  Speaker 2: It doesn't seem possible.
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  Speaker 1: The hours drag and the year's jerk.
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  Speaker 2: Yeah, stunning. And he's bigger than me, which is weird.
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  Speaker 2: He's fourteen today.
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  Speaker 1: Well, and you're seven foot eight, four hundred and fifty pounds.
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  Speaker 1: So he's a kid. Amazing.
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  Speaker 2: He's won seventy five. When I was an eighth grade
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  Speaker 2: I wrestled at eighty eight pounds. He's almost one hundred
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  Speaker 2: pounds bigger than I was this an eighth grader.
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  Speaker 1: Eighty eighty eight pounds. Are you mountain nourished? Should we
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  Speaker 1: call the county? Yeah?
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  Speaker 2: You know, retroactively, I was a whispy little person.
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  Speaker 1: Now look are you towering over the average man.
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  Speaker 2: And then my other thing was, since you mentioned the
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  Speaker 2: stock market, bitcoin hit a high day before yesterday, I
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  Speaker 2: thought that whole thing was over. I don't pay attention
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  Speaker 2: to this cryptocurrency stuff. I know nothing about it. I
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  Speaker 2: probably should know more about it and learn about it.
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  Speaker 2: But I thought it was over, just or at least
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  Speaker 2: over for a while, and here it hit its high
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  Speaker 2: est day. Although in my defense, at least according to
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  Speaker 2: Wall Street Journal and listen, experts didn't see it coming
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  Speaker 2: at all. People who spend their entire days got degrees
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  Speaker 2: in it. It's the only thing to do in their lives,
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  Speaker 2: didn't think that was going to happen. So there you go.
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  Speaker 2: But a friend of mine who got a new super powerful,
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  Speaker 2: like the most powerful computer you can get, told me
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  Speaker 2: they were going to start mining bitcoin.
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  Speaker 1: Oh wow, My great grandfather was a bitcoin mind or
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  Speaker 1: he died of black lung.
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  Speaker 2: And I don't even know what that means. And I
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  Speaker 2: didn't ask because whatever their explanation was wasn't I wasn't
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  Speaker 2: gonna understand.
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  Speaker 1: But yeah, it's pretty much just an eye glazing waiting
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  Speaker 1: to happen, if you know what I mean.
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  Speaker 2: But I mean, like when Ford stock is up. I
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  Speaker 2: can't you know. I'm gonna start building some Fords in
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  Speaker 2: my garage and sell them. But you can't do that
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  Speaker 2: with bitcoin. You start mining some in your garage.
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  Speaker 1: It has to do with the computers and math problems
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  Speaker 1: and algorithms. Wow, better get in brief brief summary.
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  Speaker 2: I don't know, complix, I don't know if there's anything
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  Speaker 2: I've ever understood less. I'd rather take a shot at
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  Speaker 2: operating on your brain than trying to figure out how
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  Speaker 2: to mine bitcoin.
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  Speaker 1: Now, haw, can this be Let's roll up our sleeves. Yeah, yeah,
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  Speaker 1: next time it dips, I'm gonna buy some. I'm just
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  Speaker 1: thank you, sir, thank you. But how do you have that, Michael?
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  Speaker 2: Nobody actually knows obviously on these things, or you'd be
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  Speaker 2: a trillionaire. But this, this person who's going to mind
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  Speaker 2: some bitcoin, said buy it now, I mean, you know,
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  Speaker 2: by it if he's all of you again, but it'd
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  Speaker 2: still be a great buy now. It's only going to
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  Speaker 2: go up, so I mean over time.
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  Speaker 1: But I have no idea. Hmmm. I think that's fairly
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  Speaker 1: legit based on what I've read, But I don't want
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  Speaker 1: to give out any of the advice or even appear to.
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  Speaker 2: Be people's People can and do lose money.
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  Speaker 1: So those were your two comments. May press ahead.
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  Speaker 2: Isn't that kind of interesting though? And then I'll be
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  Speaker 2: done that. The Wall Street analysts who dedicate their lives,
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  Speaker 2: you mean, you have to be the best of this
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  Speaker 2: to be in the Wall Street Journal And they're like, what, yeah,
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  Speaker 2: we we.
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  Speaker 1: Got an email from a guy who's totally into this,
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  Speaker 1: who says, yeah, the Wall Street guys don't know, but
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  Speaker 1: anybody who's into this knows exactly what's happening. It's not
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  Speaker 1: that mysterious. But I don't know. Everybody's got an opinion
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  Speaker 1: and I don't care.
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  Speaker 2: I can't. They're missing your own wealth. I can be
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  Speaker 2: rich rich, I tell.
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  Speaker 1: You well by then bye, by the dip the rocky, right, sir.
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  Speaker 2: It'd be the first time I invested in something and
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  Speaker 2: I don't have the slightest idea what I invested in.
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  Speaker 2: What did you buy? I don't know?
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  Speaker 1: Yeah? How about pop stars? Jack? Do you understand what
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  Speaker 1: a pop star is? You know hit music? You ever
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  Speaker 1: heard music?
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  Speaker 3: Son?
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  Speaker 1: You on radio? This is a new company. It's a
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  Speaker 1: startup that is offering stock in individual artists' record.
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  Speaker 2: Catalogs, so I could buy a piece of Ariana Grande's catalog.
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  Speaker 1: Well kind of, sort of. Theoretically, JKBX pronounced Jukebox open
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  Speaker 1: its new marketplace after the SEC signed off on it.
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  Speaker 1: Individual investors can visit its website to buy slices of
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  Speaker 1: the income generated by dozens of songs, effectively, according to
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  Speaker 1: the journal, bonds backed by beats nobody's laughing into light
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  Speaker 1: or clapping their hat no. Among those songs are the
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  Speaker 1: two thousand and nine Beyonce hit Halo and Rumor Has
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  Speaker 1: It Adel. Others whose songs are listed on Jukebox include
• 5:04
  Speaker 1: You Two, Stevie Wonder, and the Electronic Dance Music Act
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  Speaker 1: Major Laser.
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  Speaker 2: So let me guess before you tell us. So, is
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  Speaker 2: this a situation where I'd like hear a song, think
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  Speaker 2: this is going to be huge, and then invest in
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  Speaker 2: it and if it is huge, I get some I
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  Speaker 2: make money.
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  Speaker 1: Well, that would be it if it was like they
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  Speaker 1: had access to all pop music, or even most pop music.
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  Speaker 1: Many of the initial offerings come from a catalog of
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  Speaker 1: hits sold in twenty twenty one by the pop producer
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  Speaker 1: Ryan Tedder, who owned some of the rights to songs
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  Speaker 1: he owned the producer's rights, so he gets a cut
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  Speaker 1: of the revenue, and he sold all of that. So,
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  Speaker 1: for instance, Taylor Swift's Welcome to New York is on
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  Speaker 1: the only Taylor Swift song listed on jukebox. So it's
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  Speaker 1: kind of you rummage through it electronically and decide whether
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  Speaker 1: you know, you think that song is going to be
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  Speaker 1: a big deal. But I've often thought you actually, I
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  Speaker 1: think think you may have been the first person I've
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  Speaker 1: ever heard say this. Years and years ago, you said
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  Speaker 1: I wish you could buy stocking people, whether a band
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  Speaker 1: or an actor. You know, I was just helping out
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  Speaker 1: at a golf tournament. There's this kid who I've seen
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  Speaker 1: now three years in a row, who you know, he
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  Speaker 1: hopes to be on the pro golf Tours. That's a
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  Speaker 1: very very difficult goal to achieve, but he's one of
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  Speaker 1: those kids who's going to be a winner no matter
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  Speaker 1: what he does, if he goes into business or whatever,
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  Speaker 1: he is a winner. I wish I could buy stocking him.
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  Speaker 2: I got a tutor for my son. That's like that.
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  Speaker 2: It's just like you, You've got going to be successful
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  Speaker 2: in life dripping off of you.
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  Speaker 1: Yeah. Yeah, if you decide to be a brain surgeon.
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  Speaker 1: You're going to be a really good one, or a
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  Speaker 1: business person or whatever. Yeah. So anyway, yeah, that would
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  Speaker 1: be cool, wouldn't it to actually? You know, you like
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  Speaker 1: come across a band in a bar and there's stock,
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  Speaker 1: could be a penny stock.
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  Speaker 2: Right, So I kind of thought that the whole bitcoin
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  Speaker 2: thing was dead and NFT were dead. Now our bitcoin
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  Speaker 2: is not dead, it's the highest our NFTs still dead.
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  Speaker 1: As a hammer? Boo flat lined?
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  Speaker 2: Did you ever get into NFTs? Katie m our ro
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  Speaker 2: producer Sean was into him and he bought a couple.
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  Speaker 1: I don't.
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  Speaker 2: I don't get it. Nobody does, and it's stupid. And
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  Speaker 2: I remember, so he had a picture of what was
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  Speaker 2: It was a gorilla cartoon, gorilla smoking a stach club.
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  Speaker 2: Oh yeah, the board eight with a yacht hat on.
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  Speaker 1: Or tired ape or flaccid ape or whatever it was.
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  Speaker 1: And I don't care because it's stupid.
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  Speaker 2: And he showed it to me on his phone and
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  Speaker 2: I said hold still, and I got out my phone
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  Speaker 2: and I took a picture of it and said, look, no,
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  Speaker 2: I got it. And I didn't pay anything for its
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  Speaker 2: exactly the same, no, no, no, no, mine is real
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  Speaker 2: yours is not, Sayszo, what does that even mean? So
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  Speaker 2: I never quite understood it. It made sense. And he was
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  Speaker 2: buying sports stuff like he would get in a draft
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  Speaker 2: for the opportunity to buy various sports stars. And he
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  Speaker 2: made a decent amount of money when it was hot.
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  Speaker 2: I mean you could make money and you know, see
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  Speaker 2: the Tulip crash. I mean you can get make MC
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  Speaker 2: money in anything if people are speculating it. Doesn't you know,
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  Speaker 2: be pebbles if for some reason people are paying for pebbles.
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  Speaker 1: Katie's given us a what the hell looks? So he would,
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  Speaker 1: for instance, buy the exclusive rights to own NBA films
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  Speaker 1: Michael Jordan's Soaring across the Lane and slamming it down
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  Speaker 1: against Cleveland in nineteen eighty six or whatever. Don't I
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  Speaker 1: don't care, so don't check me on that stuff. But
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  Speaker 1: and so that official highlight, he would own the NFT
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  Speaker 1: of that. Now you could see it on ESPN twenty
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  Speaker 1: times a day, YouTube or again I could watch it. Yeah,
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  Speaker 1: I could watch it on my phone, but I would
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  Speaker 1: have known the official one. And there is rampant speculation
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  Speaker 1: in this and they were selling it like crazy bands
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  Speaker 1: did it.
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  Speaker 2: Sports. He was making he was making low four figures
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  Speaker 2: on some of these.
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  Speaker 1: Yeah, he means six grand on one that he he
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  Speaker 1: bought and sold t two days later, a week or
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  Speaker 1: something like that.
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  Speaker 3: This is blowing my mind because my only question is, like,
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  Speaker 3: why I don't naked speculation? Okay, Well, the only the
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  Speaker 3: NFT that I remember was do you guys remember Madonna's
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  Speaker 3: where she had like earth growing out of her oh China?
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  Speaker 2: Yes, yeah, yes, that was the only NFT that caught
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  Speaker 2: my attention.
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  Speaker 1: So disturbing.
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  Speaker 2: Yes, but I always use the example in its favor,
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  Speaker 2: even though it didn't work. This way was like with art.
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  Speaker 2: You know, you've got the actual painting and then you've
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  Speaker 2: got a a duplicate of the painting that is I
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  Speaker 2: can't tell, but it's worth nothing for some reason. And print, yeah,
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  Speaker 2: a print, and then sometimes you have the one of
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  Speaker 2: five hundred prints they have some value. Yeah I don't.
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  Speaker 1: Yeah, that's a thing because I know some artists and
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  Speaker 1: photographers who do that, and they're like, they are incredibly
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  Speaker 1: hardcore that I am printing five hundred of these period
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  Speaker 1: and then I am destroying the negative. That's the way
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  Speaker 1: you create value. But you're so right. The idea that
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  Speaker 1: if I had the original of some I don't know renoir,
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  Speaker 1: that would cost me forty two million dollars. Or I
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  Speaker 1: could have a print of it, not quite as legit looking,
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  Speaker 1: but I could probably get like an oil copy of
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  Speaker 1: it that some brilliant art student cranks out, and I
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  Speaker 1: could get that for two thousand dollars instead of forty
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  Speaker 1: two million. I mean, it's just it's a bit of
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  Speaker 1: a it's an interesting facet of human behavior.
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  Speaker 2: Books is a good example that I used first edition,
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  Speaker 2: But it's just that's just words on paper. I mean,
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  Speaker 2: so now you're you're just excited that this particular stack
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  Speaker 2: of words on paper is old and one of the
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  Speaker 2: first of this.
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  Speaker 1: But why I know, I have been in a wrestling match.
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  Speaker 1: I've talked about this publicly with myself for years now.
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  Speaker 1: I want very much to buy a first edition copy
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  Speaker 1: of Dickens a Christmas Carol, because it's one of my
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  Speaker 1: favorite things in the world. I read it every single year.
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  Speaker 1: But then I say, what good would that do you?
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  Speaker 1: You could tell people you have it, and that makes
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  Speaker 1: you look cool, or it solidifies that you cherish this
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  Speaker 1: work of art. That's not a terrible motivation, but I
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  Speaker 1: always end up with let me think about it, because
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  Speaker 1: I can afford it. It's expensive, but I can afford it.
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  Speaker 2: But it's in the NFT's lane of somewhat imaginary value.
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  Speaker 3: But I feel like with the NFTs, it's it's not
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  Speaker 3: something like with the first edition book, you're holding kind
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  Speaker 3: of a piece of history and it's a physical thing.
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  Speaker 3: With this NFT, I mean, no knock on positive shamp.
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  Speaker 3: But if he could pull it up and show you
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  Speaker 3: on his phone and go, hey, check this out, it's like, Okay,
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  Speaker 3: I I could take a screenshot on my phone and
• 11:56
  Speaker 3: pretend I have it too. Check this out. I don't
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  Speaker 3: get the value, uh right or h well, it didn't work,
• 12:02
  Speaker 3: you know, regardless it didn't work.
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  Speaker 1: I think we have, at the end of a long
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  Speaker 1: period of rambling, come to the fundamental question at the
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  Speaker 1: heart of all this, what is the difference between the
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  Speaker 1: physical and the digital in terms of human beings perception
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  Speaker 1: of value?
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  Speaker 2: And that was part of whole Andy Warhol's entire art
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  Speaker 2: career was like mocking the blur between those things.
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  Speaker 1: Elaborate please, I love that.
• 12:29
  Speaker 2: To make he'd make he'd make make copies of things
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  Speaker 2: and just like, why is this worth anything, and he
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  Speaker 2: would send one of his best one was he'd send
• 12:37
  Speaker 2: lookalikes to give speeches at colleges, and nobody'd tell the difference.
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  Speaker 2: It's like, so, what difference does it make if it's
• 12:43
  Speaker 2: really me or not? I mean, so, what's the value
• 12:45
  Speaker 2: of having me come? If I could send somebody else
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  Speaker 2: that looks like me and say what's the.
• 12:49
  Speaker 1: And satisfy you all of this?
• 12:50
  Speaker 2: What does it? Any of it mean?
• 12:53
  Speaker 1: You know, I've got to read that book that you
• 12:54
  Speaker 1: read about him. What was it called Moby Dobe Dick?
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  Speaker 2: Yeah, I win.
• 12:59
  Speaker 1: I got there first. What was it? Do you remember
• 13:01
  Speaker 1: the name of it?
• 13:02
  Speaker 2: No, I could Andy Warhol?
• 13:04
  Speaker 1: What a car, what a guy? You know. My twelfth birthday,
• 13:10
  Speaker 1: I still remember this. My grandma she decided to give
• 13:12
  Speaker 1: me a different gift.
• 13:13
  Speaker 3: It was shares of this stock called Apple and Microsoft,
• 13:16
  Speaker 3: and I just you know.
• 13:17
  Speaker 2: I sold it for fifty dollars.
• 13:18
  Speaker 1: He used DVD player.
• 13:20
  Speaker 2: Yes, he used it, the DVD player. Good investment anyway, Well,
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  Speaker 2: I guess that's it.