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#7 POT: The Cryptocurrency Podcast - The Power of Value Investing with Jake Tullis
86 Plays2 years ago
During this conversation, Jake emphasizes the importance of understanding the fundamental principles of blockchain and emphasizing the fact that blockchain technology is still a relatively young tech where innovative new applications are still discovered on a regular basis. There are likely many more groundbreaking implementations of blockchain technology that we haven’t even began considering, but there is only a matter of time until a new breakthrough is discovered.
Principles of Crypto Investing
Jake explains his approach to evaluating cryptocurrency investments, which is founded on established principles like Metcalfe’s Law. Metcalfe’s Law states that the value of a network is proportional to the square of the number of connected users or nodes. The bigger a network is, the higher its value. This is especially relevant in blockchain, where the number of nodes have a direct impact over a network security and speed.
Another law JT relies on is Lindy’s Law, which suggests that the longer a non-perishable idea or technology has existed, the more likely it is to continue thriving. Applying Lindy’s Law to cryptocurrencies, it becomes clear that well-established projects with a long history are more likely to persist.
Both Metcalfe’s and Lindy’s laws are built on a similar mathematical formula which states that the more complex a system is, the higher the likelihood to organize itself, rather than descend into chaos.
The Role of Decentralization and Security
As a software developer, Jake highlights one of the security advantages of a decentralized network compared to centralized systems. He points out that centralized systems, like Twitter, pose single points of failure, leaving users vulnerable to security breaches. That is because monolithic organizations own all of their servers and data and are solely responsible for keeping it secure. Decentralized networks, on the other hand, distribute trust among a wide number of nodes, offering a much more secure environment.
The Arrival of ETFs
Recent developments in the cryptocurrency space have sparked optimism among investors. The potential approval of cryptocurrency Exchange Traded Funds (ETFs) is one such development. Regulatory progress, including the pre-approval by institutions like the DTCC, suggests that ETFs may soon become a reality. This could attract significant investment and further legitimize the cryptocurrency market.
In conclusion, navigating the cryptocurrency investment landscape requires a comprehensive understanding of the technology, laws, and market dynamics. Jake shares valuable insights into evaluating investments based on established laws and principles. While the cryptocurrency world may appear complex, those who invest wisely and stay informed are likely to reap the benefits of this ever-evolving financial frontier.
Connect With Jake
BleedingEdgeCapital
This podcast is fueled by Aesir, an Algorithmic cryptocurrency Trading Platform that I helped develop over the last 2 years that offers a unique set of features.
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Transcript
Unforeseen Applications of Technology
00:00:00
Speaker
Henry Ford was tired of stepping in horse shit, and he hated the buggies. So he built a car, right? When he solved the horse shit problem, he didn't think that we're going to have planes and lawnmowers and air in heating, refrigerators. There are so many use cases for a combustion engine, no one in their life could have thought of every application of
00:00:25
Speaker
Yet there are hundreds of trillions of dollars poured into combustion engines from 1901 to today. Blockchain is the same way. It's a idea that transcends how we do things today. It'll be everywhere. Everything will be on chain. Me saying online, on chain, that distinction, that won't even, it's just gonna, as soon as you don't realize that you're using a token instead of a file, we're already there.
Introduction to Jake Tulis and Crypto Insights
00:00:58
Speaker
What's up, everyone? Welcome to Proof of Talk. I'm here with Jake Tulis, who is the co-founder of Bleeding Edge Capital. Welcome, man. Good to have you on. Thanks, Andre. Thank you. I'm super excited to talk all things crypto and go over probably the stuff I'm researching at the fund and all the exciting things is coming bull run, which I think is here. It'll be a fun time. I'm excited.
00:01:23
Speaker
Awesome, dude. Yeah. Well, I had a look, I had a look at kind of what you do. And I think the like the bleeding edge capital hedge fund management side of things is really, really interesting. And I feel like a lot of people can derive a lot of value into what it means to manage a hedge fund and what it means to as an individual to manage your own investments, you know. So great work you're doing, dude. Thank you. Yeah. You know, it sounds like
00:01:50
Speaker
Super intimidating.
Setting Up a Hedge Fund: Complexities and Structures
00:01:52
Speaker
I never would have thought I'd be doing this. But once you get, like, it took a year to cut the ribbons, first of all. It's crazy the amount of time it goes into to set up the insulating structure that is a hedge fund. And then once that's done, it is a little unreal just moving the zeros in between wallets and accounts and stuff. But after that, it really, really, I mean, at least for me, it's probably one of the coolest expressions I've had.
00:02:21
Speaker
I'm super, I'm super grateful for how it's all kind of unfolded. Yeah. And I bet it's, it must be very different from, um, managing hedge funds in traditional finance. Cause he's like, when you think about a hedge fund manager, uh, you don't think about like cool looking dude with like a cloud of neon, uh, you know, in his own office and stuff. You think about like suits and maybe a bit of Coke and you know, stuff like that, but you don't really think about like this kind of environment, which is really cool.
00:02:51
Speaker
Yeah, that's kind of the whole point, man. My brand, I want to socialize the idea that one, hedge fund managers are not awful. People were just humans that have rich friends, really. That's what it is. And I never had rich friends. I got this right out of the mud, everything. So the fact that I've had to claw my way to this position to do this stuff, I want people to realize that it's also not that big of a deal.
00:03:20
Speaker
People put money into private places. It's no different than like a 401k, what I offer, right? It's just for rich people. It's like a rich person 401k, basically. Rich people at a certain point, they have a problem. If you make enough money, they need to invest it because they know about inflation. They're not dumb dumbs. They know they're losing money. So, you know, hedge funds, syndicating real estate, hotels, like whatever it is, almost always there's someone like me that just
00:03:50
Speaker
raises the money, pulls it, and goes buys things so they can sleep better at night. And that's all it really is. And I try to really make everyone just, I guess, you know, get socialized the idea that the stuff I'm doing is stuff they could do too. You know, there's a really popular influencer, Bridger Pennington. He talks about starting your own fund and what it's
The Importance of Understanding Investments
00:04:12
Speaker
like. And, you know, it's pretty amazing. You can make a lot of money off, not a lot in this industry.
00:04:24
Speaker
You know, yeah, that's my vibes. I appreciate it, man. I'm just trying to be a down to earth guy, regardless of where this all takes me. You're a fundamental analysis guy. I wanted to say a fundamentalist, but that just sounds wrong. I think it's really interesting to get into that a bit and kind of unpack what it means to invest based on fundamental analysis and what are some of the key takeaways that people can apply in their own investment strategies.
00:04:44
Speaker
you're investing in good things like crypto.
00:04:54
Speaker
Awesome. Yeah. So first to understand why it's so impactful would first to unpack the strategy in general. Value investing is the, there's multiple types of, I guess, disciplines of investing, especially as fund managers.
Value Investing: Strategy and Insights
00:05:13
Speaker
Value investing in general is the most probabilistically likely to succeed. And this has been studied and
00:05:23
Speaker
across centuries. Some famous value investors are Cathie Wood, Warren Buffett, Charlie Munger, Ray Dalio. You get the picture. These are very wealthy, successful investors who have had wonderful careers, and they are always discretionary long. That is the first thing. Value investing is predicated on the principles of
00:05:48
Speaker
deploying capital for longer time horizons than what you're usually comfortable with. But if it's a valuable asset, why would you ever want to sell it, especially if you accumulated it at a very fair price? That's one principle. And there's been a history of this success literally since John Templeton in the late 1700s.
00:06:12
Speaker
It's the intelligent investor of a Benjamin Graham. I highly recommend anyone that listens to this podcast at least checks that book out to understand that most often the winners that you don't hear about are the ones that just did value investing and may not even realize they were doing it. They might have put up an auto buy of the S&P 500 index for 30 years and then they wake up to four or five million. Now, I personally don't want to wait that long. I'm young, I'm impatient.
00:06:40
Speaker
And I don't want to violate the number one rule of any investing strategy, and that is to understand your investment. I've been doing software development for 10 years. I don't know anything other than tech. I've never built a car. I've never worked in a manufacturer. I don't know how the energy works in things.
Investing with Knowledge and Experience
00:07:01
Speaker
So I really am only comfortable investing in software. And understanding that software
00:07:09
Speaker
I want to put my money wherever my knowledge can give me an advantage. So the more complicated the software is, probably the more likely I am to have an advantage, a knowledge advantage over the other investors. Because at the end of the day, you guys need to understand that investing is a zero sum game. When I buy Bitcoin at nine and I sell it at 60 to you,
00:07:33
Speaker
I've made quite a bit of profit and I wouldn't be able to take that profit if you weren't willing to buy it at that price. For me to win, you have to lose and vice versa. It really is a zero-sum game in that way. But in general, with that kind of idea, you need to really appreciate that if you can get an edge on a specific asset that you really understand. I'll give you an example. Let's say you were
00:08:04
Speaker
dating coach. That's like your business and you only wanted to invest in something you knew. So you could literally go look at all of the companies that facilitate social interactions and make a very good strategy that would probably get a very specialized niche return on all the different companies that are put in there. If you had that thought of how connections are made and
00:08:30
Speaker
and quality relationships, you could think about all the businesses where that is actually in a like if they can facilitate those where they get paid, you know, and you can start analyzing how they do it, you would have the insight to be like, I'm gonna play with this interface and be like, you know, that that's going to turn people off psychologically, because I know from my 30 years of psychology or whatever, you know, you get it, you want to be able to
00:08:55
Speaker
find an investment strategy and an investment area where you have that kind of advantage against the rest of the market. And that's the whole point of value investing. With that in mind, I know it's a long little zigzag to there, but if you understand the edge knowledge gives you, then you have to just do the work in the fundamentals, right? Understanding if like the red logo and the white thing is going to affect people versus like why do people pick Zeus
00:09:25
Speaker
You know, I'm following this dating analogy. Why do they pick Zeus over elite singles, over Tinder, over... There's a reason.
Understanding Investments Deeply
00:09:32
Speaker
And if you spend enough time really trying to understand that reason, you can make a lot of money. Yeah. Yeah. That's such a good point for people to keep in mind at all times. Like really understand the product that you're investing in, especially in a time where everyone's looking for quick gains, you know, quick profits, quick money.
00:09:55
Speaker
Well ironically most people that want quick money will end up losing money because they don't go through that process like yes you can make money as a day trader but what it takes to be a successful day trader is a completely different set of skills and most likely you have to be doing that and only that alone you can just be a day trader and you know have
00:10:15
Speaker
other occupations during the day and I think where value investment fails for most people is that they don't really understand well basically what you just said like understand the underlying product right you look at.
00:10:28
Speaker
You look at different companies and sometimes it's not only about the product itself, it's also about the people. Because if you look at FTX, you wouldn't have guessed before just by looking at the product that this is a fucking train wreck, right? You'd have been, okay, yeah, it's a crypto. It's one of the biggest crypto exchanges out there. But then you look at SBF and you look, dude,
00:10:46
Speaker
this fucking guy. I swear to God, I just can't. Every time I see anything, I don't know if you're following it. I'm going, I'm rambling a bit. I don't know if you're following the trial, but I've been following for the last few days. It's just like the Johnny Depp trial all over again. It's such a shit show. It's such a shit show. That guy is, you know, I just made some TikToks talking about it like
00:11:10
Speaker
people are getting turned off. I'm grateful for them because I got some great discounts. That's how I invest. I'm waiting for black swans. I'm that weird guy that's like, please will you all just lose your minds for a week and then I'm going to raise a bunch of money, buy it super cheap. I'm grateful for them in a sense.
00:11:34
Speaker
People need to understand that dude is like the smartest people in the room. If you guys are in an older generation and you remember Enron, it was that level of defrauding the entire world. $9 billion of customer deposits ran through 100 shell companies to where you would have no idea where they went when really he just lost it all in DeFi.
00:12:00
Speaker
Like he did all this to get 9 billion and to go to DeFi and lost it all. I mean and he didn't want to tell anyone that because he thought he was too smart for that and that it really comes back like this guy's shooting a 160. He's autistic. He's some of the smartest. He really is one of the smartest people in the world. I mean to be to find arbitrage the way he did with Bitcoin before he got diluted. You got to be smart and connected and he was everything that he needed to be it.
00:12:30
Speaker
You need to understand even him with that get money quick, get rich quick, you see how it's ending up. He has a grand scale failure because of that mindset. If he would have taken $9 billion and then allocated it for 10 years across maybe 30 really solid assets, he would be probably a trillionaire, honestly. If he would have just been patient.
00:12:58
Speaker
You know, like, yeah, he's just, he was just going on stand saying that, um, I don't think I've done anything wrong. Um, yes, I've, I've misplaced $8 billion from Alameda research, but I didn't know that that commingling customer funds is illegal. Your honor, in my defense, right. You haven't heard a fractional reserve. That's basically what I was doing. You know, I get some things all good. Why can the central bank do it? Why can't I do it?
00:13:27
Speaker
Right. Yeah, exactly. You know, God, that thing is what it really is. But the listeners at home really should understand one, crypto is not a scam.
Crypto Caution: Avoiding Get-Rich-Quick Schemes
00:13:38
Speaker
That dude was, you know, and to get rich quick, you could end up on trial. Not really, but maybe. Who knows? But it's a terrible mindset to have.
00:13:48
Speaker
Yeah, for sure. I mean, there are strategies, right, where you could argue, well, it could work if the risk-reward ratio is there, right? Like, let's say you're talking about all these, and I'm not suggesting that. Everyone goes out there and invests in shitcoins. I don't think it's a sustainable strategy, but if the risk-reward ratio is 100 to 1, right, and you don't mind losing that $1,000, it's just like, okay, maybe I'll just put it there, see what happens. I lose it, okay, I just lose it, you know.
00:14:17
Speaker
If that's the mindset, that's different. People are putting, it's like they're going to the casino. Let's say you have a thousand you could lose, but really you have 10,000 that would hurt, but fuck it, right? Like in that scenario, you know, and then they pick 10 shit coins at a thousand a pop, probabilistically, they ain't going to do anything. So if you guys go to, um,
00:14:42
Speaker
PricewaterhouseCooper, they're one of the big four consulting firms in America. They're very credible. It's one of the most credible sources you can go to. They have a hedge fund report. We pay for the current year, but the previous year is always released for free, to where it's not relevant anymore. You know what I mean? You can find the 2021 for free, and you'll see that even with that strategy,
00:15:11
Speaker
at least for professional hedge fund managers, which are probably at... I don't know if they're at the top of investing. I'm sure there's closet investors that are just crushing it. But they have to be good enough to put their entire... If I fail, I could go bankrupt. I could lose everything. You know what I mean? So they have to be good enough to be confident enough to take the kind of risk that could jeopardize their entire legacy, their family.
00:15:38
Speaker
That's a serious thing, right? So, in my mind, they're at least the whole package. They might not be the best analyst, but they are able to raise money. They're able to manage their emotions and their stress levels. There's a lot of benefit. They're some of the best in the world in a lot of things, if I were really being honest. And, you know, they, PricewaterhouseCoopers, tracks every single hedge fund's performance in crypto exclusively in this report.
00:16:05
Speaker
And you can look at all the different strategies that are deployed, which ones are profitable, which ones aren't, and the general performance of these specific hedge funds. And it'll blow your mind. So some of the things to pay attention to, the average starting assets under management for my industry is three and a half million. So it's not like I'm working on raising five to 20, and five is proving to be difficult. So it's not like these are massive funds, these hedge fund managers, they're just
00:16:34
Speaker
probably people like me, you know, that's just unwell in crypto that are like, I want to do this for other people and make more money. I want to transform my life, whatever. Okay.
Successful Hedge Fund Strategies
00:16:44
Speaker
They have four main strategies, hedge funds in this space and discretionary long outperforms any other strategy by almost 400%. Literally the starting AUM for discretionary long funds is three and a half million. They're ending AUM from 2000, um,
00:17:04
Speaker
18 to 2021 was 58 million. They went from three and a half to 58 in that three year timeframe. Where quantitative short, qualitative short, quantitative long, qualitative, all this stuff that are different strategies, market neutral, they cover every strategy a hedge fund has. They don't even touch 200%. Where discretionary long averages 400 to 430%.
00:17:33
Speaker
Yeah, it's very fascinating. I can email it to you. Maybe you can do a video on it for people or you could edit it in and just kind of or put it in the footnotes of the episode, however you want to disseminate it. But it's very interesting. So although you are right that it does pay off still across almost a billion dollars tracked by PricewaterhouseCooper across hundreds of funds.
Patience and Strategy in Investing
00:17:57
Speaker
I'm telling you, discretionary long wins most probabilistically of the time.
00:18:03
Speaker
in greater volume so The hardest part about it is and this is my number one emotion. I've had to learn how to regulate The idea that I'm doing nothing by being patient Like sometimes the best thing you can do is do nothing. Oh, yeah, the mark the market was at 90 almost 90 days bouncing between 23 and 25 right and like
00:18:32
Speaker
There's not enough swing there. There's nothing I should be doing, honestly. Because nothing happens for me in my rules until Bitcoin passes its all-time high. So I'm just accumulating. I just need to be buying and waiting right now. When the bull market comes, I have a different strategy, a different rule-based system to pull my profits safely and everything else that I follow. But really, do your research instead. Instead of making a trade,
00:19:01
Speaker
Read more about an asset you're holding. Gain more confidence. Get more entrenched.
Reality of Value Investing
00:19:07
Speaker
Or challenge an idea. If you really feel like you need to be trading, stop and just find an opposing opinion and see how stupid they are, you know? Or have them show you, have them say something and be like, wow, I never thought about that. I used to be a Bitcoin maxi.
00:19:27
Speaker
until I really understood smart contracts as a developer. And I was like, dude, Bitcoin sucks. Yeah, Bitcoin doesn't have shit on smart contracts. Right. It's like, you know, just be, oh, but that's really where your work should be. You know, that's why value investing is so, is so fucking critical to people understand. Like if you actually, okay, this is, this is a little, this is a little moniker here that I talk about all the time. Price of an asset.
00:19:56
Speaker
is just the congregate, like all the people out there, they all have an opinion on the value of information. Their collective opinion of the value of information determines the price.
Perception and Value of Assets Over Time
00:20:13
Speaker
Bitcoin is immutable. That means it's the same software, the same product that traded at eight one thousandth of a cent. What is the difference from then and today?
00:20:26
Speaker
just people having more information, higher quality information, and having a more optimistic opinion about the product. And that literally is it, right? So when you, and this is why it's so important to do the research, if you have a better understanding of reality, and everyone, and it's up here, and everyone thinks it's here because the quality information is poor, therein lies your profit.
00:20:56
Speaker
when I'm buying Bitcoin, knowledge is power. When I'm buying Bitcoin at 15 because I see there's more transactions on the network and more smart contracts being deployed through stacks and lightning and more onboarding of business development seem more like fucking shut, what is it? Shipped and drop shipping, all these different companies that facilitate those websites, they have lightning for payment rails for Bitcoin. That happened in this bear market.
00:21:26
Speaker
Yet the price is down 4x from the top. I'm buying that all day because y'all are dumb. You're not doing the research. You're not reading. I'm going to buy that all day. The reality is these networks, this industry has been building and growing day over day, month over month as it sits almost 70% from all time highs. If you understand very basic principles about network engineering like Metcalfe's Law, Lindy's Law, there are specific things
00:21:55
Speaker
that correlate one to one, well actually it's actually exponential correlation between the amount of nodes and users on a network related to value based on the purpose of that network. So if you know the network's growing, you know the users are growing, you know the nodes are growing, you know the amount of smart contracts are growing, you know all of these things are growing. You also can empirically know since 1976 that the value will too grow.
00:22:19
Speaker
It's when the network stops growing is where the price stops and that's where you really need to look at and that's part of my fundamental analysis. Price is maybe 5% of my decision making criteria because price is just everyone's opinion on something and everyone usually doesn't know everything.
Knowledge Advantage in Investment
00:22:40
Speaker
So the real advantage is to know more things than your competitor and make big boy decisions with that knowledge.
00:22:48
Speaker
And that's why my channel's JT knows things. Because I just know things. And I talk about the things I know. Because I really do believe that is how you get the advantage in this game. You have to know more things.
00:23:03
Speaker
You have to know more than the other guy, basically. That's wherever it lies. With Bitcoin, there's also with these products, going back to what you said a couple of minutes ago, it's the same product that it was 10 years ago.
00:23:20
Speaker
90% of it is the same. What changes the people's confidence in it because it was adopted by more people. I mean, you can also argue, okay, but more people, more nodes, more security, harder to hack, higher value for that. But the product itself,
00:23:36
Speaker
unchanged. Unlike Ethereum, which is actually changing quite a lot. They've gone through proof of work, through proof of stake, and they have a lot of new things coming up. Same thing with Ripple. They've got a lot of new things coming up. Polkadot, new things coming up. Even Solana, I haven't really followed, but I'm sure they're constantly building new things. Bitcoin is just Bitcoin. Yeah, those are all on my asset allocation sheet, by the way. I love all those assets. All for different reasons. But
00:24:03
Speaker
Yeah, no, you're absolutely right. Not everything is the same. Bitcoin, even then, even, you know, I'm sure I could get into some toe to toe debate with some researcher about Bitcoin being different. And it is we do have things that people have built on top of it. But ultimately, the Bitcoin token in your wallet is the same. That's what you're buying. I don't really care about anything else. That token is not changed.
00:24:31
Speaker
You know, the community has changed. People's confidence has changed. Absolutely. But, you know, you're still buying Bitcoin and it's still a Bitcoin. You know, it's pretty, pretty simple and beautiful that way. Yeah. And, you know, like, really, it's just the amount of people's opinions there that collectively we've all agreed that it's they were all more optimistic about it in the future than we were last year or maybe in 2017.
00:24:59
Speaker
Then you have all the new money. You have all the normies that have FOMO that pump it. Irresponsibly pump it. I mean, to coin Telegraph, like their Twitter got hacked. A tweet came out that the ETF got approved and Bitcoin went from 26 to 33 and we've not recovered. Like it's not come back to 26. Some of these people here to stay like I regret not buying it. I'm just holding it.
00:25:27
Speaker
Some new money came in and they're holding it now, you know, but I didn't realize they go hacked I Thought that you said a dumb thing on Twitter and then they took it back. I didn't realize they got hacked Yeah, no, they said the our account was compromised quit like they locked the guy out or reset the password pretty quick But in that time he got a tweet out like I don't know what he was doing but you know, it's pretty wild one tweet one fake tweet and it's like
00:25:56
Speaker
Boom 15% like I that's the hardest thing I have to explain to my investors, right? It's like guys this this shit is like Nuclear, it's nuclear. I'm telling you like my parameters for choppy like if we have some fucking chop It's more than 15% Bitcoin will casually do plus or minus 15% a tweet a ding now when fucking
00:26:26
Speaker
Doquan did his little rabbit trick, right? We went down 33% in a day. There, I'm worried. 30% in a day is serious. But if that happened in the S&P 500, people are bankrupt. You'd be losing your fucking mind. Oh my God. Yeah. You're like, I'm going to have to work another 20 years. You're having a heart attack.
00:26:51
Speaker
We waited five years for this 30% pump anyway. Yeah, it's crazy. Imagine if gold goes down 30%. I've been stacking for the last 50 years. Yeah, you better get another lifetime, bud, with those returns. And that actually plays into a great point, value investing in tech.
00:27:16
Speaker
If you're compounding, you don't have to be greedy. You know, I keep going back to this, the quick returns, fast money real quick.
Power of Compounding Returns
00:27:22
Speaker
Guys, if you compound 30, 40, 50, 100% for fucking just 10 years, eight years, you're a multi-millionaire. Like, you're a multi-millionaire. That's how serious the returns are, right? Like, if you just double a penny for 31 days, you have millions of dollars, a penny.
00:27:46
Speaker
Right? So, if you start with 10 grand in doublet, that's eight doubles away from a million. That's eight years. Like, it's simple math. And you can, conservatively and comfortably, pull 100% on longer time horizons. You know, like, you really can. Bitcoin, ETH. Like, nothing crazy. Massive market caps. Do you think $700 billion is going to disappear in a day? Like, no. So,
00:28:16
Speaker
DCA and forget about it for the average Joe that would be my advice because you're going to still work you're still gonna have a life enjoy your life live it and Then just take a percentage of your retirement your portfolio five ten percent Put it into and this is never financial advice I have to keep saying never financial advice, but that five to ten percent could easily outperform your ninety percent It could retire you early if you just stop doing these degenerate things stop being an idiot
00:28:47
Speaker
Even if it is, like I see that you do algorithmic trading, like even if it is when AI gets up there, you put, let's see, a thousand a month that you're trying to put away, you put 500 into the traditional investments, you put 300 into, or maybe 200, 100 into Bitcoin, 50 into ETH, and then maybe 50 into Chainlink. I'm so bullish on Chainlink. Then you have another 100 bucks that you throw into an AI bot and just let it do its thing. I've seen some pretty crazy things going on with that.
00:29:14
Speaker
I don't know but what I do know is if you sell anything inside of 12 months, you're an idiot. You're an idiot and you should follow my channel to stop you from doing idiotic things like that because I will help you build the confidence and the assets you're buying so you don't feel like selling when something goes up 10% because you're an idiot and I want to help you, not you.
00:29:42
Speaker
But the people listening, I mean, that's really what my channel is about. I want you to know more things. So you feel better when you're holding these things.
00:29:50
Speaker
Essentially, there's a lot of opportunity, even in algorithmic trading, but then you don't have to treat it as day trading. You could have an automated DCA, right? That just buys based on some fluctuations. And then of course, there's an option to day trade if you're into that. There is money to be made there if you're into that. You just got to take your time with it and test, man. And I think that this is such an important aspect because a lot of people
00:30:19
Speaker
First and foremost, you need a strategy. Like so many people think that, oh, I go into algorithmic trading and this thing's just going to do it for me. It's like, it's hands off. It's a money maker. It's, you know, it just prints money for you. But you need a strategy, right? If you don't have a strategy, you got to go find a strategy that works for you or.
00:30:38
Speaker
Well, not or, and then spend a considerable amount of time testing that. And we know there's two main ways to test that strategy. You've got paper trading, you've got back testing. Ideally, you want to do both. You want to back test against the historical mindset, and then you want to paper trade against the live market for a certain period of time. Even there, there's going to be fluctuations because you're not competing in order books. So you paper trade, you're going to get slightly different results than you would live trading. So then you go on the live market, start small,
00:31:06
Speaker
and work your way up to a level that you're comfortable with. But it's only by taking these slow and incremental steps that you can actually devise a workable, profitable strategy, whether it's day trading or otherwise. Yeah, brother. Yeah, and that literally goes back to the first principle of investing. If your algorithm that you're using to trade is the product, you should always understand the product you're investing in. If you're buying that algorithm, and you're investing in it,
00:31:35
Speaker
Understand it. Know the strategy. Know what it's doing. Make sure it's congruent with your lifestyle and what you're trying to do. Understand the touch points. Understand everything about it. Why? Because you need to. That's the responsible thing to do. Even there, you're talking about some very basic fundamentals of investing that. People just don't, they just throw it out the window because you can click buy regardless if you did the work upfront or not. And that's where people get screwed.
00:32:05
Speaker
There's no air handling for, oh, you didn't, you know, you don't know what you're doing bud, sorry. And I love that as a libertarian, but I mean, people need to take more responsibility. You're absolutely right. They really do.
Personal Responsibility in Blockchain
00:32:18
Speaker
And I mean, in blockchain, you kind of don't have a choice but to take responsibility more so than any other industry, right? Because if you send money to a wrong wallet, that's it. It's done. It's gone. If the money no longer exists, you know, it's burned or whatever. You don't have a Ethereum address. See what happens. You know, just see what happens. You know, it's going to be bad. You're going to lose everything.
00:32:42
Speaker
So, yeah. But then people do get into, you know, people get scammed, get tricked quite often. It happens even today. Less so, I guess. There's probably more hacks than typical scams, but even the scams are getting a lot more advanced than they used to. People create, they clone websites. They just,
00:33:01
Speaker
airdrop your fake token. There's so many ways to scam, but you look at even the obvious ones. You look at what, like, Crypto Queen's one coin, right? She ran off with, what, one or two billion dollars because she promised, like, people she has this crazy money making solution. Just, you know, give me your money. Literally, give me your ETH. I'll double it. Right. And yeah, dude, like, I think the more you kind of
00:33:27
Speaker
spend some time into this space, you can you can shield yourself from this. I mean, even dude Vitalik got hacked. You know, Mark Cuban got hacked. They Mark Cuban installed MetaMask with two A's. He was drunk. He was drunk. And he that's what he said. He's like, Yeah, that MetaMask had some shit in it. I should have noticed by the letter A that was his tweet.
00:33:55
Speaker
the second or third A or whatever. And he lost like $840,000 of Aave in this MetaMask. Jesus Christ. Yeah. And then Vitalik got his Twitter hag and it brought up a great point. So they never got his wallet, but his Twitter had access to his ETH address. And then through that ENS protocol, they were able to strip whatever wallet was tied to that ENS address through his Twitter.
00:34:25
Speaker
Which literally goes back to one of the biggest problems in Web2 that I'm investing in with the solutions of Web3. There's a single point of failure in monolithic structures, guys. I know that sounds like a big old sentence, but really, Twitter owns all the servers, all the information, and it's not encrypted after you break through their firewall. And every time you log in, the walls are down. So if you get your username and password hacked in Twitter, now they have access to everything.
00:34:54
Speaker
And it's your fault, but it's also Twitter's fault for only having a single point of failure. And that is with every account or any message being sent. Like there's a serious issue with companies owning every step of the stack. It worked until there was so much value on the internet. And now you realize that one point of failure, no general distributed consensus mechanism at all.
00:35:23
Speaker
No form of data sampling, nothing, you're going to lose your ass. Target lost 2 million social security cards from a guy on his phone, Bluetooth hacking a one node at a target. You know what I mean? You guys need to understand this stuff is far more secure, far more advanced, and dramatically beats the current architectures.
00:35:51
Speaker
and technical stacks that exist today. Even Vitalik, the founder of Ethereum, lost over $2 million of ETH because of Twitter. If implemented correctly, chains can be
00:36:07
Speaker
tricky to implement securely, right? You need to have a wide number of nodes. You need to make sure that there's no bad acting nodes. So there is a lot of complexity within that. But the fact that a decentralized network is more secure than a centralized monolithic source, 100%. Do you know about Discord?
Privacy Concerns and Monetization on Discord
00:36:32
Speaker
Oh, yeah. Yeah, we're working on building a
00:36:35
Speaker
a private access discord for my brand eventually. Oh, that's really cool. Because I mean, a lot of people in crypto use it, right? I use it and all of my friends use it. So there's this company, Chinese company that owns a 38% stake in Discord. And Discord doesn't make money with Nitro.
00:36:57
Speaker
Discord makes money by allowing investors access to its data. You're basically buying your way into users' data because they don't end-to-end their crypto anything. They basically just store all of your messages on the server, give access to everyone who puts the money down. You know, that's interesting because I've been wondering.
00:37:23
Speaker
So my investors, they definitely, they're idiots. I love them, but some of them are idiots. They just want to do like moonshots and DJ and stuff. They're like, I saw, you know, like, because I basically, as an experiment, I did, this was during the bull run in 2021. Okay. And this is how stupid DeFi was. I picked a hundred coins. I had 50 grand. I was going to put whatever that math is. I think it was like 500 bucks into each one. Yeah. 50 grand.
00:37:54
Speaker
And I found a hundred and I was just looking for, I mean, it took me 10 minutes to get one on the sheet. I would go through the newest coins every day. And there was probably 20 to 30 being released every day at this time. And then I would just look for things that have not been sold yet. That was it. So if they had a launch price of 10 cents and it went down to one cent, I'm not buying that. But if it went up to 12, 13, 11, 10, it had stability, I'm buying it. That's it. How did that?
00:38:24
Speaker
11 ran more than 10,000 percent one of them ran over a million percent I would have turned 50 grand into a billion dollars. I'm not even kidding like that is what happened But there's no liquidity. It's fake money Yeah, yeah, I'm here to you know what I mean like I had one token run over a million percent its market cap was 80 million my stake on $500 and
00:38:53
Speaker
was more than the total market cap of the coin. That doesn't make sense. It's vaporware. Literally, if I put in a sell order, I'd be lucky to get my 500 out. It would completely collapse the project. The only thing that I did was put 500 in. If 30% of that token is in the developer wallet and they equally distribute that value, all I did was donate 80 bucks to the developer. And then if I put a sell, it's done.
00:39:22
Speaker
You know what I mean? That's it. So even then, back in the peak of the bull, there's no way to capitalize on this strategy. And that's just me ranting, because I really do hate this stuff. Literally, they were on CNN, this guy, he had over a billion in his Coinbase. Because Coinbase got a shit coin on their thing, he bought it.
00:39:46
Speaker
And the shares went through the roof and he's like, he tried to put in a cell, Coinbase like, yeah, we can't do that. We don't have a billion dollars worth of issues. I can't give you a billion dollars. What the fuck's wrong with you? Yeah, he's like, I'll take 10 grand. They're like, we don't even have that. This thing's worthless. Like they had to do a hard press release and everything. So it's like, I do wonder though, OK, this is this is something I've been working to build, the Discord thing. It would be cool.
00:40:16
Speaker
To set up an algorithm, because I bet there's a correlation between Telegram and Discord members, hashtags on Twitter, so social paradigm shifts about a specific shitcoin. I bet, just off hype, if there's a certain rate of increase, it's always, you got to look at the trending, the direction you're walking, not necessarily the number itself. If there's a rate of increase, I guarantee you the price follows.
00:40:44
Speaker
If Discord goes from 2,000 to 200,000 members in a month, and that price hasn't moved, you buy that, right? And get out quick. I mean, it would be cool to set up an algorithm using that data. That'd be a cool thing that we might be able to do. Because I do feel like you can make some money doing that, like... Oh, yeah. Yeah. Funny you mentioned that because I actually built that exact thing for someone way back. His idea was... How was it successful?
00:41:14
Speaker
I actually never followed up and I didn't run it myself. But yeah, people have the same idea. Social growth eventually means profits, monetary growth, which I guess stands to reason so far as you can take your money out. Right. That's the thing. Don't wait for a million percent, but if you pull a few hundred, don't be greedy. You get slaughtered. Be a fat pig. Be happy. Stay alive.
00:41:43
Speaker
Yeah, I'm not going to I'm not going to hold on to a shit coin to try to get a few extra multiples. Like I just quintupled my money. If this was the S&P 500, I'd be dead for that to happen. So, you know, I'm pretty happy, you know? Yeah, that really comes out to it. You know, don't be greedy. And you've got to watch out for wash trades too. So many scam coins just do wash trades, do artificially play their value to really win.
00:42:12
Speaker
Yeah, they're the only ones winning there. It's smart though. Unregulated, good for them. I hate it and that's why I make my content. I want people to understand this stuff and I don't want them to be – like if I had a polo on, this is how I feel. If I had a polo on or a suit and tie and I was in my office with my partner, I just feel like
00:42:36
Speaker
This information is droning. It's boring. You just want to kill yourself listening to it. Like, what's a wash trade? Why do I care? You know? But if I'm funny and kind of aggressive but chill and I got this shit going on behind me, hopefully they're like, okay, this guy's cool and he knows a lot about this. Maybe I should listen a little bit. You know, because really it is intimidating. Hedge fund manager. I can't even say that socially without people going like, what? You know?
00:43:06
Speaker
They don't think I'm fucking loaded or they think I'm autistic and there's no in-between. You can't watch someone on CNN that's a hedge fund manager that can't even make eye contact with the news reporter and not think one of those two things, if not both. It's new money, it's a new world. It's a new world. My generation doesn't want to take financial advice from that guy. They just don't.
00:43:33
Speaker
You know, they grew up on TikTok investing advice. So I need to appeal. This shit looks good on TikTok. People stop and watch at least. You know, they're like, what is going on? You know, with the clouds and everything else. And I usually have my hair down. You know, so I get compliments on the hair. I don't know. My generation's weird. I hate my hair down, honestly. You asked about, earlier you asked about my metrics that I look for.
00:44:00
Speaker
Yeah. Like the kind of things you look for before you invest and also like what are some of the, like what kind of clients you typically work with? So clients I work with is pretty simple. For a hedge fund to exist, you have to be a 506C and that basically I can't market directly at all.
00:44:27
Speaker
So without knowing someone's accredited or unaccredited. The definition of accredited investor is someone that makes 200,000 a year individually or 300,000 a year collectively, I guess a married couple, or they, and this is an or not an and, so it's one of the three, or they have a million dollars net worth outside of their primary residence. If they meet one of those three criteria,
00:44:58
Speaker
They basically, something happens legally. The court, the law, the SEC, CFTC, all these guys, Fenson, there's so many regulatory agencies. They all look at someone with those criterion met or one of them met as responsible investors. So the responsibility of education is on them, not on me. If I take unaccredited money, the perspective would be I was a predator.
00:45:28
Speaker
because I knew more than them, right? Because I had more money, blah, blah, I strong armed them, whatever. So I cannot market directly to unaccredited investors. That's the big thing to change. So when you have accredited investors, really, it's going to be doctors, it's going to be lawyers, it's going to be people who had a high income or at a high net worth. So either people that got daddy's money or they went out and got it themselves through a high income job or they're an entrepreneur.
00:45:57
Speaker
And those really are the kind of subsets of people. Most of my investors are real estate investors, just due to my partnership. I'm partnered with Nate Barger. He has over 2 million followers on social media. He's quite popular. And he does real estate investing. He also owns a real estate hedge fund called Venture Real Estate Group. And he manages 250 million in hotels and apartments and things. Wow. So yeah, I'm very fortunate.
00:46:27
Speaker
He's basically, honestly, on a lighter note, he's helped me so much. He helped me stay sober. He's helped me with my relationships and family. Me and him are very close and he's been a mentor to me for years. And he saw what my returns were doing for me personally and was like, we could do this for my friends and they can make a lot of money and so could we. And that's kind of how this all started. So I'm just kind of under his wing, if you will. And I'm very blessed to be in that position.
00:46:56
Speaker
This is why it's also foreign and new to me. Yeah, so it's mainly real estate investors that have worked with Nate or my other partner, Steve, he's a real estate attorney that syndicates, like he's the guy that sets up all these deals when we talk about hedge funds, setting up all the LLCs for the exemptions, like he does all that. So he's our operating guy and he also does 1031 exchanges. So he has a lot of wealthy clients that move money in and out of real estate. So between their networks,
00:47:26
Speaker
and any clients I have for my consulting business, that's whose money we manage. And I'm a very small percentage of that subset of people. And then, yeah, I mean, they're also far older, you know, I'm 28. They're in their mid to late 40s. So they're just that impressed with my returns and my knowledge and, you know, and they're just like, you know, you got a kid, let's just
00:47:55
Speaker
Let's push you over. They're pushing me to do all this. So it's, but it's very exciting for me. I don't know. Um, it's very cool. And you've been in crypto for awhile, right? 2017 roughly in and out. Okay. Yeah, man. So I basically accumulate in the bears and I sell in the bulls as in when a one sentence strategy. I mean, there's a lot that goes into it, but that's the basics, you know, like,
00:48:24
Speaker
I'm cool waiting two years for a trade. Not many people are like that. I grew up fishing. I'm patient as fuck. I'm a Buddhist. I meditate. I'll wait days to catch that fish, maybe. I'll be on the boat sweating all day. I'll put in the work. But I'm going to haul that five-foot shark in at the end of that week, I promise you. It's kind of like that. I'm very patient. So the metrics, I mentioned them in the beginning of this episode, but Metcalf's Law,
00:48:54
Speaker
is really important to understand. This was invented in 1976 with the advent of telecommunication networks. The equation's very simple. The value of a network is equal to the number of nodes squared. And since 1976, this law has not been disproven, no different than gravity. So if you see nodes increasing, value too should follow, and they always has.
00:49:21
Speaker
That's why everyone talks about the network effect. If one node requires another node or another user or another thing to come on, that is a ever growing exponential kind of value accrual system. So we always look for network effects based on Metcalfe's law. To give you a good example why I love Chainlink, more blockchains means more oracles, more oracle means more blockchains. That is a network effect.
00:49:50
Speaker
Right? So I look for those things like that specific law. Another law that has not been disproven since 1979 is Lindy's law. If you have a non-perishable good, like an idea, like software, right? That doesn't perish. Its probability of longevity increases by how long it's already existed.
00:50:19
Speaker
So television's a great example. It's way less likely that TV goes away in the next six years since it's been available than if it was 1958 and the screen just came out. It's way more likely to go away if it hasn't even caught on yet. Another way that might be easier to understand, let's say a human life, I know that's perishable, but it's just a good comparison.
00:50:48
Speaker
It's way more likely that someone at 70 dies in the next 10 years than someone who's 10 dies in the next 10 years. It's about length of time. It's really tragic when a 10-year-old dies because it's like, oh my God, they had so much life to live. That's unproblistic. But when a 70-year-old dies, it's like, eh, it was his time. Why? That's Lindy's law.
Principles of Successful Investing
00:51:15
Speaker
There are specific laws and rules of computer science that are 40, 50 years strong that you can use as the foundation of your analysis. So how old is it? If it's been around seven, eight years, the likelihood it's here for another seven to eight years is anywhere from seven to, what is that? 64 times more likely than your shit coin that came out last week.
00:51:45
Speaker
Oh yeah. That's such a good point. Right. Bet the odds. Like it's not that difficult. So I use these, these principles, you know, I'm a principled investor, like read principle by Ray Dalio. He's a value investor, the intelligent investor. Like there was a lot of books out money master the game. Ray Dalio was in there for four chapters talking about value investing, like just understand the principles, do the fundamentals, and then literally relax. Cause the price will take care of itself over time.
00:52:12
Speaker
as people start coming to the realization you had years prior, because you did the work to find out. There's also this mathematical equation that says a complex system, the more complex a system gets, the more likely it is for it to fall into a higher order rather to descend into chaos, which kind of goes a little bit into like the more nodes, the more valuable a system is, right?
00:52:42
Speaker
Bitcoin has so many nodes that it's probably almost no chance of it ever disappearing. Disappearing. Right. Absolutely. That's the metrics I look for, man. You guys can go to Glassnode for 250, 300 a year and get all this data that I'm using to make million-dollar decisions. How many smart contracts are being deployed in the first 90 days of a new developer wallet? That's important.
00:53:11
Speaker
That tells me if the tech stack is sticky enough to attract really exciting builders. At the end of the day, if you're investing in the infrastructure, like Ethereum, that is infrastructure. I don't care what anyone says. It is the layer one. That's where we're settling all of our transactions. It doesn't matter what horse wins. When NFTs pumped 10,000%, Ethereum pulled 800. Again, I'm conservative. I'm good with 800%, right? If you're investing in the infrastructure, it's good to understand if people want to build there.
00:53:41
Speaker
like Polkadot has some of the best metrics for this. Like if a developer comes on to Polkadot for whatever reason, they are publishing seven contracts in 90 days compared to Ethereum's four. So it's a sticky stack. People like building with it. I also look at contract execution times because enterprise adoption wants fast. There's high frequency trading happening in nanoseconds. Solana is great for that. Their smart contract execution is
00:54:10
Speaker
a thousand times better than Ethereum. That's their value proposition because they have a single state machine executing. Their virtual machine is way more powerful than Ethereum. Ethereum has a different value proposition. So it's understanding the technology and looking at what their actual utility is and ignoring most of the hype and fud and everything else. It's actually getting in dirty, understanding the technology.
00:54:40
Speaker
So you can understand how they all interact with one another and you think about the entire market as a whole, which is difficult to do. I am commonly talking about this. Blockchain is like the combustion engine. You know, Henry Ford was tired of stepping in horseshit and he hated the buggies. So he built a car, right? When he solved the horseshit problem, he didn't think.
00:55:07
Speaker
that we're going to have planes and lawnmowers and air and heating, refrigerators. There are so many use cases for a combustion engine, no one in their life could have thought of every application of it. Yet there are hundreds of trillions of dollars poured into combustion engines from 1901 to today. Blockchain is the same way. It's an idea that transcends how we do things today. It'll be everywhere. Everything will be on chain.
00:55:37
Speaker
It will, me saying online on chain and that distinction, that won't even, it's just gonna, as soon as you don't realize that you're using a token instead of a file, we're already there, you know? Oh yeah. But that's just how it's gonna, that's just how it's gonna play out in the long tail of adoption. It's gonna be everywhere. And people won't be able to distinguish. And I think that's when you know that a new tech, it's mature enough.
00:56:05
Speaker
when you don't really know what's happening under the hood, but you don't have to because it just works so well. Just think about an iPhone. How many of us actually... Well, first of all, you can't really open it, but even if you could, you wouldn't go poking around. Let me look at a RAM. Let me look at a battery. Let me look at a processor.
00:56:27
Speaker
It just works, right? And I think that's what the majority of people want from crypto. And I think that's where the challenge is right now in terms of adoption because sometimes it doesn't work. And sometimes there's a lot of scams and like, yeah, I understand why people don't invest in crypto as much as any other other class. There is a risk there and we're still young and it's still assuring.
00:56:57
Speaker
I still eat glass, man. That's what I call it. Just today, I was wondering, I'm still trying to figure out how to stake my Hedera. I'm an expert. I've been in this space since 2017, but those protocols change all the time. I have fucking nine wallets and four exchanges and I have my personal invest. I have so many accounts that I manage and think about and I'm constantly analyzing.
00:57:26
Speaker
And I've not found a staking provider I'm comfortable with for my Hedera and nor do I know how to do it yet. And like, I'm raising money and I'm still learning as I go. Like you don't just, you don't just come out of the womb knowing this stuff. You got to do it, you know, and it's not easy. I still read the first four and the last four digits and identifying numbers for every wallet that I interact with.
00:57:51
Speaker
even if it's a saved address. You know what I mean? Because I've lost a lot of money not doing that, right? I had to eat glass. I had to take my licks, you know? Like, that's just part of the learning process. You got to take your licks and get the fuck back up, you know? And it's not easy to use. Once the UI and UX is that advanced, so sticky, like Apple, like the iSheep, the sheeple, whatever, yeah.
00:58:20
Speaker
It's game. I mean, hopefully you've listened to this podcast and invested before then. Never financial advice. You know, don't take that as financial advice, but hopefully you've made some good decisions by the time that happens because the total market cap will be 150 trillion, 200 trillion of the entire industry. Bitcoin is going to be at a million. ETH is going to be at 50K. I easily see Chainlink being at a thousand by that time, like
00:58:47
Speaker
Hopefully you've made some good decisions. Actually, by what time do you reckon Bitcoin is going to hit a million? I have the answer I tell my investors to not sound crazy, and that's going to be 2050, to not sound crazy, 25 years. By the time I'm pushing 50, that's a reasonable expectation.
00:59:15
Speaker
If I were to remove, yeah, if I were to remove my reasonability hat and look at just the facts and tell you objectively without me being worried about your emotions, I would say like 2030. I mean 2035. Two more, maybe it won't happen this bowl, no shot. We don't have regulations, we don't have on-ramps, like a lot needs to be built for institutions to be that comfortable.
00:59:43
Speaker
But the second, the 400-something trillion AUM, and then if you include derivatives, what is that, 600 trillion? It's huge. People trading on trades. It's massive. So we're talking a quadrillion of value in the world today, roughly, if you include derivatives, because that's bigger than the entire market. For those who don't know, derivatives are basically people placing bets on bets.
Potential of Crypto Markets with Institutional Growth
01:00:12
Speaker
So you can make a bet, like, oh, the over-under, you know, if I'm thinking about sports betting, which I'm not into, but basically, if I put a bet on Adesanya winning the fight, you could bet if I win or lose. That would be like a derivative. And then you could bet if I win or lose on his winner loss, you know, and we just keep cascading into what are derivatives. So there's a lot of value there. There's this quadrillion amount of value. The second that much money,
01:00:39
Speaker
can one, two, five, 10% of all that ends up on chain and they actually have regulatory clearance and they have the ability to move that shit on chain seamlessly without risking any deposit money, any of their current function and operations. By the time that happens, I easily seeing Bitcoin being a million dollars because if I manage two trillion in a pension, why wouldn't I want 5% in Bitcoin?
01:01:07
Speaker
Not crypto, not DeFi, not, you know, but Bitcoin, or maybe two and a half percent. But literally, that one fund of thousands in the world could take Bitcoin from $34,000 to $48,000 off one fund. That's almost $150 billion. The total market cap of Bitcoin announced $500. So we're talking a 20-something percent increase off one of a thousand. You know what I mean? Like, think about it, guys.
01:01:37
Speaker
All they need is regulation and the ability to not harm their customers. The second those two things happen, like an ETF.
Impact of Bitcoin ETF on Market
01:01:47
Speaker
Yeah. And I mean, an ETF is coming, which is incredible. You know about the other day, there's this financial regulatory institution, what's it called? BTCC, I think.
01:02:04
Speaker
They've kind of pre-approved the ETF because they've listed it. They have the ticker and symbol and everything. So that's kind of an indicator that is going to be picked up and approved by the SEC. And it's that piece of news that the market went up 13%. That was $200 billion in value just like that in a day. I really enjoyed the conversation.
01:02:29
Speaker
Thanks again for coming on. Do you have anything you want to share, any links or anything you want people to go check out? You guys can find me anywhere at JT knows things from there. You'll find my link tree and you can look at first research me, make sure I'm legit. All of my websites, all of my review, everything on there from my professional world where I do web to consulting to my fund management services, all of that stuff. Please look into me.
01:02:59
Speaker
You'll be able to do all that. And if you ever want to contact me for anything, any services I provide or any content, anything else, just reach out to me on any of those platforms. I have it all, you know, I'm watching all of it. So JT knows things anywhere, your favorite platform, I'll be there and we'll have a conversation. Awesome, brother. Thanks a lot. Thanks everybody. Me too, dude. Take care. Yeah, you too.