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00:00:01
Mezzanotte Podcast #7 feat. Lukas @SCHIZO_FREQ
172 Plays9 months ago
In this episode we discuss the real estate market, crypto twitter, 3AC, SBF apologism, the negative aspects of Lasik surgery and getting veneers.
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Transcript
Time Zone Mishap and Podcasting Concerns
00:00:00
Speaker
I really like yesterday the fantasy top guys because they said it was gonna be at like 12 I think 12 p.m. EST and so I converted it to my time zone which is not EST
00:00:15
Speaker
and I did the wrong 12. I did midnight when it was actually noon and so I missed it and I felt really fucking bad because I super like those guys. Those guys are nice but they have French accents so or one of them does. Yeah I do always worry a little bit about having like a podcast with people who are non-native English speakers because there's always a sense that I have to
00:00:40
Speaker
I make any sort of a deadpan joke. I do a lot more obvious, which is very not my style. Yeah, exactly. And it's like just for I've talked to.
Accents and Audience Niche
00:00:52
Speaker
the dude Travis Bickle before like last year. But then I was like, damn, your accent is so like, I couldn't understand what he was saying. I kept having to repeat or like be like, what did you say? What did you say? And like, yeah. And it just doesn't work at some point. Yeah, for sure. But I'm sure that they would get some. I feel like maybe they would get someone with a. American person to do the podcast. Actually, I have no idea, maybe.
00:01:23
Speaker
That does make more sense. Yeah. I mean, I think they're having a cozy. He's another guy that I really like. He's not necessarily affiliated with the team on the dev side, but it's really annoying because like the fantasy top guys, they hit me up when they were still early on in the, uh, like the beta phase. And I was like, holy fuck. Like this is something that I've wanted forever. Right. And I really enjoy also that they don't try and make it this thing of.
00:01:47
Speaker
Oh, like we're going to bring in all the normies and like we promise your mom is going to get onboarded to this. They're very clearly like, no, like this is for CT. Uh, yes, we understand that this is not something that like your grandma is going to want to like financially invest in like crypto Twitter shit posters for like $15,000, you know?
Platform Development and Engagement Challenges
00:02:08
Speaker
Uh, but we do understand that you guys uniquely are a market where you would want to speculate on stuff like this. You guys are hyper online enough to care. You guys have enough money that your volume could actually move this stuff. And we're going to make this just for you guys. Uh, that's like a, an approach that the social five people haven't really taken so far. And I like it. Plus they like.
00:02:33
Speaker
just sort of made it and then have been building on top of it for months. So it's like, it's all been like public. They gave everyone the ability to shill it in early beta for free, right? So like I had the opportunity to tell people like, guys, like I've been pushing this shit for like months. And if you didn't sign up, uh, that's on you, bro. It was free before.
00:02:53
Speaker
No, I know. Totally. I guess like the thing that's confusing, I guess not confusing about it, but it's like fantasy sports, but for crypto Twitter. So it's like, you're judged on your engagement. But then also like, I heard you and, um, various talking about it on your pod. And basically it's like, if you have a small account, but you get a lot of likes and a lot of engagement, you win more points than a big account would.
00:03:16
Speaker
or something like that. They changed the algorithm a lot and I'm not quite sure how it is right now, but basically what I messaged them and I think what they know that they have to do is they have to create a, they basically have to create a web of the crypto influencers and crypto Twitter users, because there's no way that you can parse out fake engagement, right? So what they need to do is they need to find the real accounts on crypto Twitter and only track who those guys engage with. Right.
00:03:46
Speaker
Because otherwise I can just like, if you look at the amount of money that is, uh, up in the air for like pumping your card here, it's, it's easily, easily, easily over, uh, you know, like six figures. If you're willing to like, you know, bring yourself from like a level 200 level one 50 card up to like the top 10 top 20 top 30. And so.
00:04:11
Speaker
Engagement is cheap as shit. If I were to bot by myself, like, you know, like 100k followers or like 10 million impressions, that costs nothing compared to six figures, right? So the upside is way more than the downside. It's a system where you're always going to just want to bot yourself if botting is allowed. So everyone will figure this out. I mean, they already did. If you look at the first few rounds, they're entirely dictated by people who bought it themselves.
00:04:39
Speaker
And the only way to get around this really is to just say,
00:04:45
Speaker
We are only looking at this handful of real accounts, you know, and I don't know how the best way to build that out would be. I think they've done a decent job so far, but I think like having people have referral links where you can give them to like people with real accounts. And then if you're ever like wrong, you just get
Twitter Dynamics and Strategy
00:05:01
Speaker
banned forever. Who's the number one? Like Gout is doing nothing. What is this? Like, you know, do you know what this is? I'm looking at the top accounts, Greg, GBA, Tramellio, Ansem, DB, block grays.
00:05:14
Speaker
Yeah, it's really, it's a bummer I was up on that top 10 board and then I stopped posting because I got slammed with a bunch of this other shit.
00:05:21
Speaker
The engagement's also been down in general on Twitter, I feel like. It's like something changed. They changed something really substantially in the last three days or so, yeah. It's very noticeable, and hopefully that gets switched back or whatever. I don't really know. Well, the thing that I dislike is a lot of the engagement changes they're making, they're not necessarily direct across the board, but what they're doing is increasing or decreasing the effect of tie strength.
00:05:50
Speaker
which is the effect of the people you engage with and the people you follow and the people who engage with you and how close they have to be in a neural map of your Twitter follower base to get promoted to people. It's becoming increasingly more apparent when I shift spheres.
00:06:12
Speaker
that period of two weeks where I didn't tweet anything about crypto because it was just boring because nothing was happening in the market. And I got shunted back into like the purely like relationship dating take algorithm. All of my relationships and dating takes started getting like 10 times more engagement no matter what I was saying. But I could tweet about crypto stuff and it would literally get like seven likes, like nothing. And then after I started tweeting about crypto again and that flipped back,
00:06:38
Speaker
And it went the other way, right? And it's just this like, they're making it harder to be a generalist account, I think, because what they did when they first opened it up was they really decreased the importance of tie strength and everybody hated it. Uh, because, you know, your, your shit was just getting shown to people who hated you who didn't give a fuck about it.
00:06:59
Speaker
And a lot of people were just getting, like, negative comments, negative feedback. And they were also saying, like, I'm seeing this stuff I don't give a fuck about, dude. Like, I do not give a single fuck about, like, black Twitter's, like, dating discourse, right? Like, even the people who do normal dating discourse don't want to see some black person doing, like, Ebonics posting about, like, why she has six baby daddies or something, you know? Like, it's just a totally different thing. So, uh... It would be interesting to try to, like,
00:07:30
Speaker
manipulate the tie, the tie strengthening or whatever it's called because it's like if it's just based on the content of your tweets, how do they relate? You know what I mean? It's also based on your engagement and who you're applying to and who you follow. That's the other thing. And who you block now, but I don't know how that all plays in. It's very annoying. I wish it was a little bit more transparent. Is there someone that documents this stuff?
00:07:54
Speaker
No, it's something that like you can figure out if you have multiple accounts in multiple different spheres, because you'll notice that like, you know, people might say, oh, engagement is going down and everyone will see the big accounts in a sphere saying engagement is going down at roughly the same time. But that's just in a sphere, that's like a sphere specific, sorry, specific action, because everyone in a sphere generally notices the same effects.
00:08:20
Speaker
But between spheres, things are very different. And so if you have multiple accounts or accounts that like, like my account kind of resides in multiple different areas, right? Like it's in the weird health and fitness sphere. It's in the like the right wing dissident political area. It's in milady sphere Twitter, which is like, it's a different thing than NFT and crypto Twitter somehow, algorithmically, just if you look at like the mapping of accounts who engage with it.
00:08:47
Speaker
And then crypto, Twitter and mainstream appeal. And by that, I mean like girls will that aren't like my lady, like just regular Twitter. Yeah, like a lot of the dating will like a lot of normal women. Yeah. Yeah. That's that's true. That's really true. So it's like, however, they're useless as followers is the like, that's the thing is the thing that I have been trying to do both with my account, but more broadly with like
00:09:16
Speaker
Everything that I've been doing business wise is trying to pull a lot of these like weird disparate spheres that I have together. Uh, it took me a while to realize this, but most people don't really have their hand in as many jars as I do. And there's usually like some form of cross industry arbitrage that can be pulled out there. Like, you know, the normie dating people, especially the women, like they're, they're useless in terms of.
Women and Influence in Crypto
00:09:40
Speaker
uh, their actual like monetary value, like they're unlikely to buy things and they don't get you any ad revenue on Twitter because none of them have Twitter blue, right? However, if you just bring them over and get them to do crypto stuff and you funnel like 1% of them in suddenly that makes any crypto community like 80 billion times more valuable than it would otherwise be, because there are simply no women here, right? And there's this thing with, with the crypto communities where like
00:10:10
Speaker
Everyone's been talking about the OnlyFans girls coming in, or the sex workers coming in, and, well, we're going to onboard the sex workers. And it's largely failed because when they try and push the women who already do this stuff into crypto Twitter, those women do it in a very heavy-handed way, right? They try and come in and say, oh, is any generous man willing to help me out with blah, blah?
00:10:33
Speaker
The crypto guys, uh, they're like used to being exploited for their money by like, uh, predatory women and they kind of just want like a nice girlfriend type person. So when they see these accounts from these girls and they're like retweeting all this stuff, that's like explicitly saying, I'm here for your money. Like I don't give a fuck about you. Uh, it doesn't work, right? No, it doesn't.
00:10:58
Speaker
But I mean, I wouldn't know. I don't know. I don't know how to like look at the statistics for that or whatever. But no, I see what you're saying. Yeah. And I mean, like I just in terms of like meme coins, like MOG, I know that there's like, you know, like porn stars that that that shill MOG, like, you know what I mean? Which is funny. Yeah. Like things like that. There's.
00:11:23
Speaker
trying to think of what else that is that like cross-section of like influencer girls, only fans girls and crypto Twitter. I mean, it does have a crossover, but it's more like a satirical like kind of comedy thing. I don't know. What's up with this Ansem's Angels thing?
Ansem's Role in the Crypto Community
00:11:43
Speaker
Do you know what that is? I honestly have no, I've seen people tweeting about it.
00:11:49
Speaker
I've had this period of these last four days here where I've basically just been in calls for every waking minute or recording or editing something. And I haven't really gone into super deep timeline dives on this stuff. It appears that Ansem has started some sort of a Solana protocol for, I guess, buying escorts or something, which, like,
00:12:14
Speaker
Ansem is sort of like a ride or die for me because when I first joined crypto Twitter, I made like a joke that nobody realized was a joke and they all got like really offended by it. And Ansem was one of like a handful of people who said like, no, like this is funny. You guys are retards. What was the job? I'm here for this. And so like, I am permanently going to support Ansem. I would prefer if he doesn't put me into positions where I have to support
00:12:41
Speaker
uh, like open prostitution. Uh, but if it comes down to it, I value loyalty to my friends more than I do, uh, any sort of principle or value. So I guess I will, but it is certainly, uh, you know. Yeah. Um, what was the joke though? Do you remember?
00:13:07
Speaker
It was that thing with Bulma that I did where I loved her like a bajillion times, uh, pretending like I was afraid she was going to kill me. This was the weird thing. Like people hate Ansem. I think that like old crypto heads, like a lot of them like, or like whale type people that have been in crypto for like five plus years really don't like Ansem because he got so popular or I don't really know why, but like he made so many young, like newer people money.
00:13:33
Speaker
A lot of it is like I do understand why you could be mad at Ansem simply because people are they're like glazing him in such a bizarre way that like it is uncomfortable like you know like I like Ansem but I'm also like a natural contrarian as most people in crypto are and so like when one of the people who you're friends with becomes like the most like I
00:13:59
Speaker
There's nobody who really can oppose Ansem openly, right? I have some commentary on one guy I think who's doing it really well later in terms of his social positioning, but everybody is so pro Ansem. There's people literally making jokes about sucking his dick and shit like that, and it's not an uncommon occurrence for people to do this.
00:14:24
Speaker
It's sort of like fuck what's the name the like community police guys who? Zack XBT it's sort of like Zack XBT but like on steroids where like you just have to be pro ansem and My natural instinct whenever the entire community loves somebody is to start shitting on that person I'm not gonna do it with ansem because again. He was cool to me very early on for like no reason and like I'm not going to like betray that right, but I
00:14:54
Speaker
I think a lot of crypto people feel the same way, right? When so many people like somebody, they just inherently want to not like them in the same way that like we're here because we liked Bitcoin, partially just because everyone else said it was retarded and dumb, you know? No, that's true. That's a good analogy. Yeah. But you know, like a Gucci bucket hat, Gucci has come out very strongly against Ansem in a way that I think is like very good socially, like
00:15:25
Speaker
He's he's he's embodying like they're embodying. Sorry, embodying. What the fuck? Like a. Maybe a Tate style ideology like a. Not Gucci prayers. No, no, no, Gucci bucket hat. He's XBT GBH, I think.
00:15:46
Speaker
I think he's like the number one account on the fantasy top leaderboard. But oh, like he's really. Yeah. The Romeo guy. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. So he's basically saying like prostitution is bad. Hooker is bad.
00:16:01
Speaker
Uh, which is like, you know, like porn bad. That's a message that like, I think resonates pretty strongly with most of the crypto Twitter, OG guys. And crypto overall right now is sort of looking for like a heel, like an anti-hero, someone who's willing to be like aggressive and, uh, you know, like fight against the heroes that are just like crowded trades at this point. Yeah. But who's that?
00:16:30
Speaker
It's not going to be GBH familiar because he's too edgy. Way too edgy. No, no, no. I think that's what they want. Like, I think they want someone who's willing to be like, you know, like coming out against Ansem is edgier than any other like political stance you can have, you know? Like coming out against Ansem is straight up edgier than posting about how the Jews control everything.
00:16:54
Speaker
Are you sure? I don't know.
Meme Coins and Morality in Crypto
00:16:57
Speaker
I don't know. I'm like on crypto Twitter. I'm serious. Yeah, like anti-semitism is like, you know, like even before any sort of like Rameleo, Rameleo, whatever, like come onto the scene, crypto Twitter has always been like deeply anti-semitic.
00:17:15
Speaker
I don't, I feel like now they're like pro-Israel though, cause they're like right leaning or something for the most part. And they're tired of like. There's people on both sides. When I say they're anti-Semitic, I'm not necessarily saying that the majority of them are anti-Semitic, but I'm saying that in terms of communities, like they are almost as anti-Semitic per capita as like the dissident right is, which is like the most per capita anti-Semitic group outside of like,
00:17:43
Speaker
an explicit like Persian or Iranian community on the internet. Yeah. So like, you know, and people like people can give and some shit, I guess. There's not really like a lot of valid reasons to do it, though, you know?
00:18:02
Speaker
like attacking him for his like personal life is actually more valid than it is to attack him for any sort of like crypto indecency or like lack of ethics in like trading stuff because he doesn't like do the thing of promoting stuff and then dumping on his followers right like he's accepted the same sort of thing that I've accepted which is that there's like two paths in influencer dumb which is like uh
00:18:29
Speaker
You either dump on your followers and you're just known as the guy who pumps it, but you do dump and you're like an evil weasel or you just can never sell. And he has so much money that he's just decided basically like, I'm just going to hold everything and like not sell.
00:18:45
Speaker
Yeah, but the problem with that is that it's not that there's not a problem with that but people don't realize that Right. That's the other thing is they always assume that you're selling right like if you're a moral actor in crypto I run into this all the time you wind up with some like hyper jaded 30 follower account that expects it like everything you like every post you make
00:19:02
Speaker
you like front ran it or something and like they they speculate on like which accounts are mine and they do it in these really goofy fucking ways where they'll say like oh like you tweeted this ticker and this account bought seven minutes beforehand and so I know that this is your and it's like I actually like don't have any of this coin right like I tweet more about the coins that I don't own because it like it it removes all of this you know yeah
00:19:31
Speaker
No, I mean, it's it's hard. Like I, I believe that Ansem doesn't dump on his followers. Do you know what I mean? Like that. I also believe that someone can go back and like find Ansem's wallet and say, Oh, well, like he did technically dump this like one coin this one time. But like, I'm saying like, as a rule, people either like.
00:19:50
Speaker
They do it like every time like every single tweet they make. They're trying to explicitly profit. They're trying to buy before they're trying to sell after this stuff. Like obviously like people are going to buy and sell in crypto and stuff and like it might be within like four days of something that you tweeted or whatever. But I'm saying that overall his buys and sells are not something that occur specifically because of his tweets.
00:20:12
Speaker
And the other thing is he like, he totally does juice his friends, right? Like if he knows that one of his friends is holding something, even if he doesn't hold the thing, he will sometimes like retweet their thing and just say like, LMAO or like whatever, like, you know, like black Twitter thing that like, because he knows that it drives like a bunch of engagement to that coin and like helps his friends out. Like he is, he is, I consider him to be like a very good guy in terms of,
00:20:40
Speaker
Uh, like the loyalty aspect of this. So, um, and that's also why like people aren't like coming out and attacking him, you know, like not only has he made the community money overall in terms of his like public calls, but like, uh, even with the small cap stuff, like he'll make his friends money in ways that don't benefit him at all. Just with his platform.
00:21:02
Speaker
It's true. Yeah. And he became like the new Kobe. So it's like, that's what basically happened in last year up until this year. Like, yeah. And it's weird because he really wasn't that like substantial before this, you know, he followed me last year and I was like, who is this to my friend? And they were like, Oh, he's just a really well-liked guy that people like a lot. And a lot of people know him. He's like in New York or whatever, you know? And I was like, okay. And then like all of a sudden he's like,
00:21:30
Speaker
It's huge, massive. This obviously happens to someone that gets so big in a community of people that are online all the time. He gets so popular that, of course,
00:21:42
Speaker
Like, you know, there's some sort of dark turn to his like arc of like triumph, you know, that's just, it's almost like, uh, you know, if the same thing happened with SBF, obviously to a different scale of all of this, but like when SBF went from being some random guy to being like the first like gig, a billionaire under 30 or whatever, like that's something that is necessarily going to cause you to become delusional. Right.
00:22:11
Speaker
Nobody's ego is prepared for the scale at which attention can increase given modern social media. If you run it up gradually over a 15-year period, that's one thing. That's fine. You can survive. You're likely going to have a few ego fits and breakdowns and stuff where you're like,
00:22:34
Speaker
a little delusional here and there, but it is not the same fucking thing as becoming like a god over the course of six months and thoughts on S.B.F. like what about like what he committed that was wrong or like what he did that was wrong because I'm like my thoughts on S.B.F. almost sound like they're coping for S.B.F. as do my thoughts on basically all of the like, you know, like I'm very sympathetic to all of these like main characters who wound up committing like
00:23:02
Speaker
global unrecognizable evil. Because, okay, do you remember, like all of them had their arcs where they sort of blew up, right? And what I like to do during these times is like, when everybody is hating on them, and everyone on crypto Twitter has painted these sort of like cartoonish understandings of what they're like,
00:23:26
Speaker
Uh, I try and just talk to them or just reach out and DM them and stuff. And that night when SBF was, uh, you know, he was posting that, that thread, that W H A T H A P P E N E D like having like a schizophrenic stimulant induced breakdown. Um, and do you remember when he messaged that journalist and she leaked all of his stuff? Yeah. Yeah. Yeah. So that same time, he wasn't just talking to that journalist. I think he was just talking to everyone who messaged him.
00:23:55
Speaker
And I did manage to slide in during that time. And it's like. He.
00:24:09
Speaker
I do think, yeah, like obviously he was a very manipulative Machiavellian, et cetera, et cetera. I don't necessarily like fault him for that. I do a little bit fault him for like admitting to it. I think that was dumb. But again, that was a mistake of like naivety. That wasn't a mistake of evil necessarily, right? I think a lot of people are, you know, more Machiavellian than they're willing to admit with a lot of this stuff, but you're probably not supposed to tell the journalist you're doing it. You know, like I do,
00:24:39
Speaker
I do think that, but my sense that I get from SBF is basically that he got groomed into it. He seems to be very under socialized. And the people he was playing with from day one were like, they were big sharks, man. His family.
00:24:58
Speaker
they're not like they're not like random nobodies like from day one he was put in the room with a lot of these people who are very big very savvy players and the way that they structured their deals were such that like SPF was subject yeah to a lot of the publicity and public upside but if things went awry he was also going to be the fall guy for everything and
00:25:21
Speaker
These other guys might not have had as much public exposure to stuff, but they wound up being in a very good position financially if things went up. If they went downhill, then they didn't lose that much and they weren't to blame. SPF thought these deals were great because he got to benefit reputationally on the upside more so than these other people did. He got to be aligned with these big players.
00:25:44
Speaker
I guess he just didn't really understand that like if it goes down He is now the fall guy for like every single fucking one of these multi-billion dollar deals and Like and he didn't realize that I think Because he didn't think just never thought it was going to happen. Yeah, exactly. He didn't think it was gonna happen because it's like the amount of
00:26:07
Speaker
commercials and publicity things that were used against him is insane. You can't think that you're going to fail at that point. That's the thing. When you're at the point that he was at where you've literally, again, literally manifested billions of dollars out of nothing. I don't think it's possible for your brain to even entertain the idea that it can go away much less in the amount of time that it took to come. I feel like a lot of crypto people
00:26:35
Speaker
really despise him because he crashed the market. You know what I mean? Yeah, he did lose everyone's money. He did steal everyone's money. And you can say, oh, the FTX estate is whole now. They've paid everyone back more than 100%. But it's like, again, that doesn't matter because if you're in crypto, you're in crypto because you believe that coins are going to outperform US dollars. So despite the fact that you were paid back more than 100% plus interest in your US dollar holdings,
00:27:04
Speaker
Nobody gives a shit because I'm in crypto because I like coins. I wasn't paid back fully in my coin holdings. I don't have as much Bitcoin as I do now. Right. Like I lost still. So that's still bad. You know, he did like again, he like actively lied in a way to steal everyone's money. So in a weird way, though, he helped everyone out in the end because everyone got to buy for cheap. So
00:27:35
Speaker
I don't know about that. I think actually that we are at levels that are way lower right now than we would otherwise be. Because I think he really did fuck up the market in a very bizarre way. But don't you think that because so many people aren't into crypto now, basically because of him being on mainstream media so much of the time, he's sort of kept
00:28:02
Speaker
at bay like a large yes i do think he pushed retail out effectively i think i think like you know if you look at the bitcoin fractal we had never once dropped below the previous uh cycles high on a pullback
00:28:18
Speaker
And we went like last cycle's high was 20K. We went to 15K. That's like way fucking below the last cycle's high. Every like big, really wealthy person I've talked to in crypto thought that 28, 24K was like the absolute pico bottom of where the bear would have hit if it wasn't for like global scale gigafud that pushed every single retail holder out of the market forever. But yeah.
00:28:48
Speaker
I don't know. I don't know. But like people, I feel like people sort of switch their opinion on him once he went to jail and they became like apologists, like SPF apologists or whatever. You know what I mean? Whereas before he was just extremely hated and now they're like, okay, he's doing time. No, I know. It's crazy. I mean, yeah.
00:29:11
Speaker
This is like, what is, what is Zusu and Kyle think about SBF? Oh, I mean, I don't think they're ever going to be huge fans of the guy because, uh, you know, like, again, like it's personal for them, right? Like they went under specifically because SBF and Alameda hunted their position on FTX, right? Three AC had the largest position on FTX by a factor of four. Like they had an enormous position on FTX and Alameda hunted them and the group chat screenshots were like leaked.
00:29:40
Speaker
of them trying to hunt the position. They were dumping everything else they had to nuke 3AC. And they didn't really understand what was going to happen because they didn't understand that most of the market was leveraged off of 3AC. So when they liquidated 3AC, they were really excited because they did get the money. However, they also wound up killing themselves in that move.
00:30:07
Speaker
because again they just didn't understand like the crypto economy they didn't understand how like money flows from any side of the industry to another and so yeah like they're never going to be super fans of these guys because it was literally like
00:30:26
Speaker
You know, like they were, they were sort of locked in this prisoner's dilemma with them and they thought, oh, SBF isn't so retarded that he like doesn't know what this means. And then in fact, SBF was that retarded. Uh, and he wound up blowing up their thing and you know, like three AC got a fair bit of hate, right? And, uh, they probably would not have gotten this much hate if they didn't get liquidated.
00:30:52
Speaker
Yeah. I'm not saying it was all SPF's fault. Borrowed more money though. Obviously he did. Obviously Sam borrowed more money than three arrows, right?
00:31:02
Speaker
I don't really know how it worked. I know that most of 3AC's funds was their own, right? So that's a really big difference between the two because most of Sam's money was borrowed. Like billions. They did create their own wealth basically by FTX issuing FTT and then pumping that. Yeah. Yeah. Yeah. That's true.
00:31:28
Speaker
That is true. I don't know enough about this. It seems like it was so long ago now or none of us do. That's the thing. Like you're asking me about this. And like, again, when all of these guys had their main character arcs, like, you know, that's how I that's how I met Kyle and Sue. Like I reached out and I said, hey, because I was like, you know, like everybody seems to think that you're like these hyper evil guys who like stole everything. And I've noticed that like most of the time when all of CT has like a 100 percent conviction opinion in some people, they're not.
00:31:55
Speaker
Right. You know, like these these people are a little bit delusional. Most of them are like hyper online. And there's there's a lot of like social reason to come out and support an opinion even that you don't necessarily have yourself, you know, like, like with FTX, it's just popular to hate on him. So you can go out and you can you can gain social capital by like hating on FTX or like making up a story about how Sam fucked you. And he's so evil, right? People will just give you
00:32:25
Speaker
likes on that. It's the same thing with like, do you remember when Kyle made a tweet saying, like, I will not apologize for being so bullish that I like leverage long the entire market and blew everything up. And then some guy responded to him saying, like, I don't want you to apologize for being a
00:32:42
Speaker
I don't want you to apologize for being so long. I want you to apologize because you approached me with an offer to lend you liquidity. And if I had done so, I would have lost my entire company's treasury or something like that. And you might say, okay, well, that sounds like a reasonable thing to be mad about, but it's actually not, right? Like I've been approached with so many different angel offers that went to zero.
00:33:07
Speaker
that people were requesting amounts of money for me, that if I had given it to them, I would have lost it all, right? And it's never once occurred to me to dog these people three years after the fact saying, you approached me with an offer that would have destroyed all of my personal wealth if I'd accepted it, you know? Like that's not something people do. It's like nobody, it's insane, right? And the only reason that that guy said that in response to Kyle was because he knew that it was a socially advantageous thing to say,
00:33:36
Speaker
Like, oh, I can get, I can get head pads if I shit on Kyle Davies here. And that's fine, I guess, but it's like, I think it's just like a, like a bitch thing to do. It is. It straight up is. I think people like Kyle and Sue now, at least my lady people or whatever, or like they like the much more way more. Yeah. Yeah. For sure. And like.
00:33:58
Speaker
The first podcast, the first Ox podcast that you did, where he's talking about jail and the benefits of jail. I watched that so many times. That was so interesting to me. And trying to explain that to my normie friends, they're like, what are you talking about?
00:34:12
Speaker
Like, do you know what I mean? Like they were like, there's nothing good about jail. You know what I like? They wouldn't understand. That's that they don't fucking get it. That's the thing. Like it's the reason this is the same reason that funny people are funny. It's because they look at every situation and they think, what is the funniest possible way to interpret this? Right. That's what suit us. But with like optimism, he looks at every situation and thinks, what is the best possible way that this can be interpreted? Right.
00:34:38
Speaker
And that's what you have to understand watching that video. People are saying, oh, he's coping. He's coping. No, like this is just a brain that is fundamentally different than yours. This is why depressed people are depressed. They do the same thing with every situation. Oh, it has to be this bad, right? Like everything has to suck. And I don't know, man, like.
00:34:58
Speaker
When you watch that video, it's very clear that what you have is somebody who looks at whatever he's doing and he finds the joy in it. He finds the good parts and he focuses on those and the other parts literally disappear. They evaporate. They're not there. Yeah. It's also just someone that's aware of their surroundings and what's happening and like the drastic difference between running a hedge fund and being online all the time. And then, you know, that.
00:35:24
Speaker
disappearing and then you're just staring at a wall or like, you know what I mean? In jail is like the difference is so drastic that it's like you can't help but like be aware of that situation and like the differences, the mental differences of that. I don't know. It's pretty interesting because like most people won't have to go through something like that, you know? And like that to me is like success in some weird way. You know what I mean?
00:35:49
Speaker
Some drastic. Sue clearly is just like happy. That's the thing. Like he clearly enjoys his life. He feels like he's done it. And he's now just. He wants to do things that he thinks are like fun and beautiful.
00:36:04
Speaker
Yeah. What's up with you and the like, what, what are your thoughts on like, this is such a boring question, but I don't care like the market right now. Like, or like what, what's like there's just endless chop for months, right? It's basically like in this range, at least a lot of stuff, not really the majors, but how do you feel about this? How do you feel about this Lucas?
00:36:27
Speaker
I'm probably not the guy to go to for macro stuff. I mean, personally, I wind up actually agreeing. This was the funniest part about doing the podcast with Sue is realizing that I actually do agree with a lot of the things that he says. Sometimes the reasoning is a little different. Usually it's not. But I'm torn between this all being kind of like an echo bubble that was pushed higher than it ever made sense to push because of the ETFs and
00:36:56
Speaker
Us being like turbo back bull is about to hit really hard in like two weeks and we're going to send to unbelievable heights. Um, I really don't know. I do think though, like I, I do think that you have to be a little bit long Ethereum here. Uh, and I do agree. I do agree with Sue that like, as, as F Bitcoin ratio goes down, it increases the amount that you have to be long, you know?
00:37:27
Speaker
Yeah. You know, what's weird about the, the ETF being approved is that was the most confusing thing ever on the timeline where I was like, I don't, I didn't know what happened or not. Like if it was, yeah, I think what's going to go on with all of this, there are very clearly large influencer misinformation networks and, uh,
00:37:47
Speaker
they're designed basically to cause what happened during the ETF approval, which I don't know. For those of you who didn't see, we basically had a massive candle down like what, like 20% and then a massive candle up like a 10, 15% all within like 30 minutes. Yeah. Like that, that's what I think this is all because now after the ETF got approved,
00:38:13
Speaker
It's like, oh, we're going to be seeing a lot of ETFs, you know, like if the Ethereum ETF got approved, that means everything gets an ETF. So we're now in this territory of like, everything is getting an ETF and there is a large profit incentive to confusing the fuck out of people surrounding the timeline of these approvals.
00:38:34
Speaker
Yeah, because yeah, no, that makes sense. People made a lot of money on that swing, you know, like people, people who knew that they were going to push out a bunch of tweets saying the ETF was denied. Again, it wasn't denied, but like it does. That's the other thing. Like it's not.
00:38:49
Speaker
It's not legally classified as market manipulation. If I am to go out and say the ETF got denied, right? Because, you know, you would have to outlaw people just being retarded. There's nothing to stop somebody from thinking that it got denied and just being a retard and posting that. Now, if I'm Gary Gensler, you can outlaw it, but like you can't outlaw a bunch of people with like 50 million followers from doing it. You cannot know.
00:39:15
Speaker
And so you have these networks where, I mean, very clearly a lot of these very big accounts who, uh, they were from a crypto Twitter, but they weren't like from the parts that I'm in. They were all on my timeline saying like, Oh, like the ETF got denied and it was all at the same time. And it was clearly some sort of like a coordinated push to get everybody maybe on CT, maybe, uh, normies, I don't know, but like to push the price down right before it got approved and pumped it. Yeah.
00:39:44
Speaker
something like this can happen every time like there can always be some BS that goes on and you never know like which one is going to be true or not because like the government also is likely going to be involved somewhat in these weird like price swings that they're going to try and induce.
00:40:01
Speaker
Because why would you not be if you're the guy who, if you're the guy who fucking announces it, uh, and the, the inside trade, every other thing they do, like Nancy Pelosi, just like openly insider trading her way to like $80 billion. Uh, as everyone watches her account, like, why would they not? Yeah. I wonder how many people are involved in that though. That's some weird, like Illuminati shit, basically, because it's like,
00:40:28
Speaker
Like who, you know what I mean? Like it's like, like burner phones that are like texting to like, you know, a hundred people, like it's going to get approved. You know, and it's weird also because you don't necessarily like, you can structure it in such a way that it's actually like totally legal. Like you can have like a group where you've gotten all these guys to say, Oh, at this time we're going to be pushing this narrative about the ETF denial.
00:40:53
Speaker
And it's not like you're running like a coordinated ring of like bot accounts. Uh, if you tell these people that it's all actually going to happen now, these people aren't even like lying themselves. They're just like tricked. Right. And yeah, I don't know. It's just, there's so many ways you can do it. And people always, people, uh, depending on like.
00:41:16
Speaker
their understanding of social dynamics, they have a very different understanding of what like a conspiracy might look like, right? It's very rare that something actually needs to be like a conspiracy as in it's driven by like one top down narrative that's been washed out by like one specific actor. It's usually just that social incentives can be massaged or aligned in such a way that you don't even need to like push one singular
00:41:43
Speaker
narrative, people just like line up with it all. Right. Like it's like when employees think that, Oh, like the woke agenda, like my CEO is telling everyone that they have to fire everyone. If they're white, like that's not ever how it works. It's usually just that people who say, Oh, these candidates aren't white and that's great. Wind up getting promoted or complimented or, you know, like recognized for their work. Yeah.
00:42:13
Speaker
And then the other people don't. And then it leads to a system wherein everyone does the same thing because they see what's rewarded, right? Like it doesn't need to be explicit. It doesn't need to be explicit, but it's hyper confusing. And like to me, for the most part, it's like the way I think about it is like COVID or something. It's like, there are like Hicks, you know what I mean? That are like sending their children to universities.
00:42:39
Speaker
where they don't have to get vaccinated or tested for COVID. Like there's like a weird industry that comes out of conspiracy theories now. You know what I mean? Or like not conspiracies. Yeah. But no, I mean, conspiracy theories specifically are very appealing just because, uh, everybody likes to think they're very special and the idea of the entire world organizing itself to try and like prevent some secret knowledge that you have from being released.
00:43:08
Speaker
is a very good way to feel special about yourself. Well that's just really modern is like just people thinking like they're on their computer all the time they're like I know more than you because I was reading on my computer for a while about this on websites and blogs that have random information so I must know more about this than you which is like sort of it's usually true is the other funny thing like if you were to take that statement and say like uh
00:43:37
Speaker
I read more about this than you, so I know more about it than you. Like it's usually true. There are a few subjects where it's very not true, but like. No, yeah, I guess you're right. I think it's just like a very modern phenomenon because it's like. There's, you know, because of mainstream media or like legacy media and like a narrative that's being pushed, that's like kind of.
00:44:02
Speaker
dumbed down or simplified. And then people are like, wait, wait, wait, no, let me, let me, let me do some research on this. And then it's like this, it becomes this weird sort of meta thing where people are like, no one is really sure about anything actually. But then some people feel like they are for a valid reason because they did more research. I don't know. It's weird. Yeah. People also have, uh,
00:44:25
Speaker
I tweeted something kind of adjacent to this today, but people have a very different notion of what researching might be. It's like the study meme where everybody says, study X on crypto Twitter. And I was bullshitting. I said, none of these people know what it means to study. They all took 50 milligrams of Adderall every hour and used it to fail out of college. They don't fundamentally know the definition of studying. And that's kind of true for the broader populace.
00:44:56
Speaker
in that nobody really knows what researching means because they don't know how to form consensus. They don't know what parts of the internet might be real. They don't know what parts might be fake. Their model of the world and you know like which sources can be credible is usually just wrong. And this is why a lot of
00:45:19
Speaker
Like a lot of the legacy sources are just winding up coming up short and getting outperformed by like the weird dissident spheres on the internet. Like it's not even just the dissident right that winds up outperforming them in terms of accuracy. Like the dissident left now is even like a group that has traditionally been one of the most delusional and incorrect groups of all time will even be more correct than my parents on any sort of current event.
00:45:44
Speaker
Uh, because of how bad and low latency legacy media is. So yeah, it is a thing where like, just because you're reading the wrong sources for 50 hours every week, doesn't mean you're going to know anything about it. Uh, but we're still in a weird time where legacy media still has like an enormous hold on the majority of the population. I feel like.
00:46:10
Speaker
You know, even though that's changing, obviously it's just like a really slow dump. You know what I mean? Like it's not, we're still in this legacy media time. Like most people are like watching the news as they travel on like CNN or something. Yeah. And it's like, I don't know if it's ever going to go fully away.
00:46:31
Speaker
How could it go? How could it go fully away? I don't understand. I don't see how it would like, if it's like when we're like 60 or 70, it's probably still going to be the same shit. So the interesting thing is that a lot of legacy media, what they're realizing is that like, you know, these like YouTube influencers and people like that are gaining followers and shares of the like mental marketplace.
00:46:55
Speaker
at a rate that's higher than CNN or something like that. And so their approach has basically been to buy these influencers off and say, yeah, you can keep doing your thing, but you're supporting this agenda now.
00:47:07
Speaker
And they also, anyone who's approached with an offer like this, it's like, if you run a YouTube channel up really big and you're approached with like a buyout by Disney or something, you have to take it because if you don't take it, they will send you to zero. They will ruin your life. They will like, they will fucking like plant shit on your brother's computer, calling you like a pedophile. Uh, so.
00:47:30
Speaker
And like everybody who, you know, like this might sound like a very like schizo bullshit thing, but like everybody who's made it big in YouTube knows that this is just like how it works. And if you run it up big enough that you're starting to get buyout offers from like, uh, the actual big media companies, you, uh, you have to work with them. So like Don Lemon, like how he's like not on CNN anymore. And he does like his own thing. And he's like, obviously.
00:47:57
Speaker
part of the left or whatever, and then it's like, to me, he's like the opposite of Tucker Carlson, because they both, not the opposite, but like kind of the left side of Tucker Carlson, because they both left legacy media to do independent podcasts, whatever journalism, and now they're being, at least Don Lemon is being presented with more conservative leaning views, and has to like sort of somehow adjust his position to this like new landscape of like,
00:48:27
Speaker
podcast journalism, you know, podcast journalism. I don't know. That's what I should. That's what I should start branding myself as instead of how what else would I call it? What else is I do? I just really like I'm going to start telling people I'm a journalist. You should. You kind of are. When when I get asked by I yeah, like I'm realizing it actually is somewhat true. It's just that like when I like introduce myself for people instead of saying like
00:48:54
Speaker
Oh, like I do branding or oh, like I'm a marketing, like I'm a CMO or whatever the fuck. Like when I, when I go to conferences, it's much more fun to just introduce myself as a podcaster because then the people who don't know me, uh,
00:49:07
Speaker
wind up just like, you know, like if, if they're somebody who is entirely like there to just make connections or do their gay little networking thing, they like blow you off. Uh, and then later if they see like other people that they consider important talking to you, suddenly they're like, what? Like, why didn't you tell me you were? And I'm like, because I wanted to find out you're a weasel bitch. And, uh, they don't usually like that answer, but I do give it to them. Uh,
00:49:35
Speaker
But yeah, no, like the idea that journalism is this sort of credentialed institutional thing, I think is going to sort of get washed away and it is going to get ironically retaken by effectively podcasters. It's already happening. Yeah, for sure. If you're like writing print media for websites, like The Guardian or some shit, like no one's reading that really. I mean.
00:50:04
Speaker
I don't think so, at least. Or like, you know what I'm saying? Like, what's it called? Like this old school idea of a journalist that's writing out these articles? That's the one group that truly is dead, right? Long-form OG, like, think pieces about whatever these, like, boring outrage subjects are.
00:50:20
Speaker
They are actually going to zero. You'll see like, you know, you'll see like an article by the Guardian getting posted about how like Trump is evil or something and it will straight up get like four likes on Twitter and they have like 2.2 million followers, you know, it's like on it. Like obviously I know a lot of like all of these big news outlets, they purchased followers. A lot of them are like bot farms that are now like defunct.
00:50:45
Speaker
But it's still just like, holy fuck, nobody gives a shit about this, right? Like, you know, when I was talking about how a lot of conspiracies aren't necessarily like, like a directed thing, but just like this incentive farm that gets everyone in on it without even like really caring about like what the narrative is.
00:51:04
Speaker
This is what happened to journalism during the Trump era. You would basically have a bunch of these bot farms. It's like blue, follow blue, 2000 follower, 2000 following retarded sports posting libtard dad guy.
00:51:19
Speaker
All of these guys were part of, I'm not going to say all of them, a large number of them are just bot farm members. And what would happen is if you would ever write a piece that just says like, Trump is evil and bad, then suddenly you get more engagement than you've ever had in your entire life.
00:51:39
Speaker
Yeah, right and now when everybody realizes that this happens every time you ever say Trump is so evil and orange He's going to genocide all of the Mexicans and he raped 1 million women and you just tweet that and you get like tons of likes They just they just start tweeting it all the time, you know, yeah, and that's kind of been turned off it has it has yeah, I
00:52:04
Speaker
So it really have all these, but you have these people who they don't realize it. They're like, they don't understand that, uh, culture kind of moved on and they're, they're the bot farm incentives. You can think of it in crypto, right? Where like people incentivize an action that they want on their platform with like airdrops points. And these are people who like don't realize that you no longer receive blast gold.
00:52:28
Speaker
for tweeting about Trump being like orange or whatever. So they just keep doing it. They never like read the new update. They haven't looked at their points dashboard in three years and they're going to keep doing the orange Trump tweets until they die. They're like the people who get caught like this on every sort of social narrative that the left has, right? Like there are people who will never take off masks now. There are people who think we should be locked down forever.
00:52:55
Speaker
Right? Like it's just, you know, there are people who are constantly supporting Ukraine. It's becoming niche, like sort of tribes, niche tribes that were like, this is what I'm doing forever. I'll never change this. You know, the guy who was fighting, I think it was like World War II and he was like in the jungle and he got lost and he like, he was still fighting the war for like 25 years, even though the rest of the world had stopped and he just didn't realize. Yeah. Yeah. I've heard of that. Yeah. They're all this guy.
00:53:25
Speaker
Yeah. It's true. It's also just like the people that are like, like on YouTube, there's like news networks that are like not real basically. Right. They're not, but they, they appear to be like legacy media, but there's like one letter off, you know, it's like, so yeah, man, or something like that are like some weird, right. Leaning news network where it's like, everything looks really the same as a normal news network. There's a, there's a news anchor. It's like a beautiful woman.
00:53:53
Speaker
There's like a projection screen behind them. They're at a desk. That's the thing that is actually like the crazy manipulative propaganda that exists now because most, like a lot of people cannot tell if that's real or not. Only young people could see like, this isn't legitimate at all. This is like, this is fake. This is some random news network like from Russia or something, you know? Yeah. That's, that's, that to me is like, that, that's going to keep growing.
00:54:21
Speaker
There will be like thousands of YouTube news networks that look completely legitimate that are just changing the course of history or like what people think, you know, that's, that's going to keep growing, but print media is out. It's done. I don't see, I don't know what, like, what, what's the most popular like newspaper? I mean, it's the New York Times still, uh, and like people theoretically still read, I guess, but it's like,
00:54:51
Speaker
I mean, that in and of itself is a very damning sentence, right? People theoretically still read, I guess. New York Times, optimism about the war in Ukraine. Putin unleashes a purge at home.
00:55:12
Speaker
Do you subscribe in your times, Lucas? No. None of these things are things that I think you should ever subscribe to, both because you're supporting people who want to kill you, but also because you can just get around everything. These things have black walls and paywalls that are sophisticated enough to stop the average boomer. But if you have ever used the internet, there's a bajillion ways that you can just read all of this without having to pay.
00:55:43
Speaker
You know, like I would never support breaking the law or whatever the fuck, but if you're paying for the New York Times, it's sort of like. I mean, I'm using my mom's account. I'm going to admit like I have access because my mom pays for it. But sadly, it's a loss for her financially.
00:56:07
Speaker
I was going to ask you about friend tech because we were going to talk about that. And I wonder what your vibe is on that now or whatever. And I saw you were talking about it with like Luke Martin or something like that on your. Yeah, I don't know what I what I think of the overall investment thesis for friend tech. I think it is very interesting in terms of the token distribution. I like racer a lot. I think he's done a lot of weird things. Weird as in like.
00:56:31
Speaker
No, it's like almost like a culturally foreign state of mind to approach like social media apps from. And I think that's kind of cool. I don't know, you know, like I haven't sold any of my airdrop. I bought some of the clubs and stuff. I might, I might be an idiot. Like I might be an idiot for writing it down from like a hundred thousand dollar airdrop to like, I think currently like I'm at like 20 K or so. I don't know.
00:57:03
Speaker
Yeah. I mean, do you think people will still use the app? I genuinely don't know. Um, I log on every now and then, um, and I will probably continue to do so, but I don't know. Like, I think it's a really interesting launch pad for, for, for like tokens or groups or clubs or whatever.
00:57:35
Speaker
Yeah, I'm not sure what I would, I don't, I don't have any opinion on it really, but I do think the clubs thing is good. That's what I think. Basically. Did you hear the, uh, did you hear any of the podcasts? No, I didn't. I just was like, just looking at it just now on your feet or whatever. And it was like watching the text, but, um, his thesis basically is that this is something that can be used to
00:58:03
Speaker
So I guess the problem that we had in crypto is the sibling thing, right? Like you want to know who the users are, but you can just bot farm it.
00:58:15
Speaker
And it's kind of shitty because, you know, like every protocol that doesn't airdrop, it's just generally understood that 80% of that airdrop is going to get sibbled, right? That sucks. That sucks ass. You know, like it makes you not want to airdrop flat out. And I mean, I have my thoughts about airdrop actually as a mechanism for token distribution in the first place. I'm not like, again, everyone loves free money. I do think that like the idea that you're going to give
00:58:44
Speaker
You're going to give users an IOU for juicing your protocols metrics so that you can then go raise on fake metrics to paradigm for 125 million valuation. And then when paradigm gives you 125 million, you can take 20% of that and just give it to the people who helped you juice your fake metrics. And then everyone can just stop.
00:59:07
Speaker
Working or pretending that this protocol exists anymore. I do think that that whole thing is a little bit fake and gay Obviously it's beneficial and it can be used in positive ways But I think overall the concept gets abused a little bit but like if you're gonna do it it makes much more sense to give the money to the actual users right because like I
00:59:32
Speaker
Yeah, for sure. But still, yeah, it still can be manipulated early on. That's what happened with friend tech anyway by the users also. So it was manipulated. But I mean, even with everybody actively sibling it, like that's the thing. Like you saw, like, who was it? Like Vombatis, Vombatis, whatever the for the Wombat guy, you saw him come in and you saw himself by.
00:59:56
Speaker
You know, and everyone was like, what is this, what is this guy doing? And then they realized, oh, he's self buying to farm himself. So like now everybody knows what's going on. And it's very different than something like, uh, the, the Barra chain test net thing where they'll probably maybe, I don't know, the airdropped some amount of capital for that, but like nobody really knows what the farming meta is because you're not watching everybody on chain. Like that was the fun thing about friend tech was like,
01:00:24
Speaker
You could literally see everybody's like farming meta evolve in real time. Yeah. At first, like you could just buy your own key, then they changed it. So you had to buy other people's keys and then you saw that happen and everybody understood that clearly. And then it changed back to you being able to buy your own key. Which is that was everybody's conspiracy theory, I guess, was that they changed it back so that you could juice yourself by like buying some like, you know, buying one of your alt keys.
01:00:54
Speaker
and having it make you a lot of money. I don't know. Frankly, I just assumed that everybody who releases something has some stake in it. And the idea that the FriendTech team didn't have any way to get a supply of their own tokens seems really stupid to me. So I naturally have to assume that they would have done something to get it, but they also could have done it through user revenue.
01:01:24
Speaker
I don't know. Either way, I like the idea of airdrops that are tied to Twitter. This is my like grand thesis on everything in crypto Twitter is I like all the protocols that do Twitter sign up. I understand that it's likely going to send all of us to prison in one year when the SEC regulates us all. But like it's just so much more fun to have everybody's account and like their personality staked on it than it is to have some random anon wallet who can dump whenever the fuck they want.
01:01:54
Speaker
Yeah, no, I get that for sure Like like blast or something like that I mean blast is a little different because they're like They don't they allow you to like change it and you don't actually have to like publicly show it's not the same really It's not the same but with blaster at least like trying to keep you there
01:02:11
Speaker
keep you on that chain. Blast as hard as you are. They're locking you in without your heart as you can. I wouldn't be surprised if by the time we think we'll get a blast airdrop, there'll be something else you have to do that just keeps you on the chain. No, 100%. Yeah, I just wonder what their incentive is for doing that. Investors investing in it, they can say this is how many people we've had on the chain for this long or something. I'm trying to
01:02:38
Speaker
What's their incentive there to keep people on the chain for that long? Just getting VC money? Yeah, I mean, that was my initial criticism of Blast was that when they released Blast, I thought they were going to have a lot more to do. And I don't want to say they fucking scammed everybody, but
01:03:00
Speaker
What they did was effectively say like, you have to hold your eth or stables on our platform and juice our TVL this one way.
01:03:11
Speaker
And, uh, if you don't, we're going to dilute you to zero, right? Because everybody who took their ETH off blast, it's like, you still get your points, bro, but like, you don't get your 10 X multiplier. And it's like, okay. So now you have, you know, now you have no points compared to anyone else who sits. So you have to stay if you want, if you want the points and you already locked your shit there for half a year. Uh, while everything else went up 10 billion X and you made fucking 1% APR on like blast, like.
01:03:41
Speaker
Bless the only the only l2 with native yield you made your fucking 1% off of the native yield so It I'm not gonna say it was just like a little deceptive You know because everyone thought they were going to get unlocked and they did technically get unlocked but they couldn't do anything with their money and they couldn't even buy shit because at that time it wasn't until months later that He released an update that made it so like if you buy things on blast
01:04:11
Speaker
you can actually still get points and you're not dilute but it like up until then it was literally the only two tokens you could hold on blast were USDB his stable coin or ethereum if i bought a shit coin on blast it would reduce my multiplier so it's like no one bought anything so everyone who built out on his ecosystem every protocol that released a token
01:04:35
Speaker
None of them got any activity because why the fuck would you use his L2 if it deludes yourself, you know? And like, it was just so fucking stupid, man. Like, everyone kept telling me that Pac-Man was like some giga genius and he was going to pump us all to infinity. And that was the point where I was like, oh, holy shit, man. Like, wow, you guys were really, really wrong.
01:05:00
Speaker
I do think in the end blast is going to wind up being good. But like those were all really big failures early on. And there's no reason that blast ecosystem couldn't have taken off much earlier. Yeah. I also just think that when they did release the chain or whatever, it just was like all scammers making coins. And it was like filled up deck screener for like three or four days. And everyone was like, fuck this. Like, let's go back to salon or whatever. Or like, that's what it seemed like to me, because
01:05:27
Speaker
It just seemed like people just took advantage of it in a weird scammy way.
01:05:35
Speaker
Absolutely. I absolutely agree. I just think that it's like you don't really see that that much where it's like this like oh we have to do like I wonder what they were thinking like oh we have to do something about this and then there's you know and then money got stolen and stuff from people and like in certain protocols or whatever like that where you were like staking it or whatever I don't even I don't even really understand it actually I'm really stupid about a lot of this stuff I just
01:05:58
Speaker
I don't think the hack was necessarily their fault. No, it wasn't. It wasn't their fault. I think that the I do think that they handled the hack fairly well because that was a big that could have been a big bad point for the industry. However, they were in a very good position to handle that hack, because if you're the guy who fucking runs the L2 and someone hacks money from your L2, you can approach them and you can say, listen, dude, I'm not going to let you steal 60 million from my fucking users.
01:06:27
Speaker
You can either give it back or we will pay you $200. Sorry, we can either roll the chain back and make it so that like we undo your whole hack and you don't have the money now. Or we can pay you $200 and you can give it back publicly.
01:06:44
Speaker
which is better for everyone because now you have money and we don't look retarded. Now, the $200 can be any amount of money, obviously, and there was probably some negotiation that went on there. I imagine it was more than $200. It was probably a fairly sizable fee, but that's the logic behind it, and it made sense that that would be what you would do. I was happy that he did that because the alternative of
01:07:07
Speaker
The alternative of giving up the illusion that our L2s are actually serious would have been very bad for the industry. If he revealed you can just roll it back, I think it would have been bad for crypto. People don't know you can just roll it back. What do you mean roll it back? You can roll the chain history back. Oh, yeah. You can say, I'm going to revert the chain to this point before the hack happened.
01:07:39
Speaker
And he didn't do that. He did not do that. No, because that would have been psycho and people would be people would be like, oh, you just do this for everything, I guess. And I would never lose money, I guess. Yeah. The issue is that every L2 can do this currently, you know. That's so crazy. It's like I didn't know this. I like I literally didn't know this about crypto. This was like a time machine that I had no understanding of. And when it was revealed to me, I was like, what the fuck?
01:08:07
Speaker
Does that mean just that there's a history? What tracks that history? It's just, you just go back to a certain date on the blockchain. They just go back to a different block. Yeah. Oh, okay. That makes sense. That's so fucked. There has to be an L2 or that's not, you're not able to do that somehow. Like my friend is actually making one because he agrees. It's very scary and retarded.
01:08:31
Speaker
Is that like, is that a alpha that you're dropping or is it completely? Can you say anything about that? I can't know. He did a very, very small closed round for friends. Nice, nice, nice. What else is going on with you? What's up with you in your current life that you're willing to talk about? Just a lot of recording.
01:08:56
Speaker
You're just making tons of content. You have like an intern named Mitch or something that's doing a lot of stuff for you. Mitch is not an intern. Mitch is a big fucking media guy. He's very good. I mean, he's basically a, he has a media company. And he's working for Ox and for your podcast, Bears and Lucas podcast. He is working with Ox and he helps me because he's my friend.
01:09:28
Speaker
Uh, I don't want to say, I don't want to say he's working with me because it's a, uh, his, his thing is bigger and like he's too important for me. Uh, and he also does not do everything or really most things. And I don't want anyone who like views my shit to think that he's responsible for it because it's mostly low production value garbage and he's not the one doing that. Uh,
01:09:57
Speaker
he he does every now and then help out some just as a as a friend thing but like his shit is good his shit is not my
01:10:08
Speaker
I wanted to ask you about your NFT tweet where you said that NFTs were over or something like that, but you didn't really say that. You just sort of like, yeah, yeah, that was a clickbaity headline. I was basically saying that NFT volume is never going to be high. Uh, not okay. That was also a lie. I was saying it's NFT volume is never going to be consistently high like it was during the period when NFTs were like the thing.
01:10:31
Speaker
Yeah, I mean, you're proven correct as of today, for sure. And I don't see that that changing really because people have coins. I mean, the thesis was effectively that NFTs are community identifiers in a more solid and substantial way than. Then like. Shit coins might be. Yeah, like.
01:10:56
Speaker
you're not going to be trading an NFT. Your NFT is a value aligned piece of like how people identify on crypto Twitter. And what they do basically is, and you can see this anytime a protocol or like a current event benefits, it benefits someone, some community.
01:11:22
Speaker
that community pumps because what they do is they roll their profits from a given instance back into the NFTs, right? Like, why did the Pepe shitcoin boom? Like, how do you know that that was largely good for Remilia ecosystem? Because the Remilia ecosystem pumped after every single one of the things exited, right? They were like, they were, they were benefiting actively from it all.
01:11:47
Speaker
I think it's also just because that like people could make NFT collections really easily before they could make shit coins really easily in some way. Like it's much, I don't know if that's, I don't know if that's true, but I think what actually happened was that the difference between making an NFT collection and making a shit coin was not that big. So you might as well make the NFT collection because it had a higher upside, I think at that time.
01:12:17
Speaker
Yeah, yeah, yeah, because you could yeah, that's that makes and it's changed now because now if you look at the difference between making an NFT collection and a shit coin, it's much easier to make a shit coin. You can make a shit coin with no and like we know obviously in terms of making it successful, it both of them take effort, but like,
01:12:35
Speaker
It's a very different social calculus. Like if I were to launch a shit coin, people basically think if the thing ever pumps at all, you're not a scammer, right? If there's ever any opportunity for people who bought to sell later at profit, you didn't scam people. Now, if you make an NFT community, that same logic is applied, but that means that you have to mint out, right? Because in order for there to be a pump above mint price, you have to mint out. Nobody sells shit above mint if it hasn't minted out.
01:13:05
Speaker
So they're trapped, you know, like if an influencer decides to release an NFT collection, not only is it hard because you have to like designing the generative assets and stuff is substantially more difficult than making a ticker.
01:13:20
Speaker
and copy pasting a contract that you do. There's more downside. There's more downside to an NFT collection. There's less. Yes. Yes. Because you can be trapped because basically now you just have to, you just have to keep trying to mint this NFT collection out forever. You know, which is, it's impossible after like the first three days.
01:13:38
Speaker
You can do it. Like there are collections that have minted out after time, obviously, but like, yeah, like it's very fucking hard, right? If you like, and if you like fuck up horribly, you have a limited number of tools at your disposal. You can either go and lower your mint count, or you can change your branding, or you can hope that there's going to be a change such that you gain some sort of like viral marketing exposure that allows you to mint out anyway.
01:14:03
Speaker
The latter is what everyone hopes for and it's what successful communities largely have happened to them, but it's very rare. It is rare. But I think now it's like with, if you were trying to make like a successful shit coin, like you basically have to have a good idea, have a good concept, and then basically rally
01:14:25
Speaker
a community around it and get people to shitpost, to post constantly about it. It's basically like starting a political campaign. It's really similar in this way. You need at least 20 people. Not at least, but kinda, yeah, actually. You need at least 20 people that have accounts that can go in. I guess, I saw your talk, the Urbit thing. It's sorta like,
01:14:50
Speaker
what Remilia did in that way that they found they like, you know, handpicked the best posters at that time to rally around that at the beginning. And like you were talking about that at your talk or whatever. Um, but like now it's like there, there's systems put in place to how you can make this happen. You know what I mean? Yeah. Yeah. Like it's sort of, it's a very like mature system at this point. It's all been built out in a way that, uh, is almost like a romantic.
01:15:22
Speaker
What do you mean by that? Like as we've gotten farther and farther into the like community building thing, you know, Charlie was somewhat revolutionary in that he actually created a community, right? Like out of every single NFT collection in crypto, none of them, like they all talked about community or whatever. But like a community by my definition, because I don't know how else to define it, is basically something that persists
01:15:47
Speaker
Even without the financial aspect, you know, even if your shit goes to zero, they will stay. Not all of them, but there is some core group who will stay. Even if price is zero, that's how I define community. And you see most of these other NFT collections, the reason they're going to zero is because they don't have that. They, it was exclusively people who were there for the financial element. Yeah.
01:16:16
Speaker
I mean, the good thing about Malady is that it has both. The price keeps going up and same with Ramilio and the community keeps growing and it's like a massive cultural thing at this point. Yeah. And there's a lot of other like, you know, this is like how everyone understands community too now is that you have to have people who like actually use it and stuff. And so like, uh,
01:16:41
Speaker
It's bad because when, when Charlie was asked about how to build a community, he would answer and he would give like explanations that made sense. Uh, they, they sounded kooky at the time, but now everybody just can repeat it and like not have any investment to actually work towards those goals. And it sounds good, right? Like he gave everyone the sound bites. They need to lie effectively.
01:17:05
Speaker
Yeah. And he doesn't even have to do that much right now. Like he can like disappear for weeks and it's like still, it's still happening. It's still growing. Well, that's the other goal is everything, everything eventually grows to the point where the, uh, the original team's engagement diminishes, you know?
01:17:22
Speaker
Yeah, that which is what people want for a shit coin. They want the dev to sell and then that's yeah, exactly. That's why community takeovers are so popular with everything is because one, I mean, it means the distribution is better to the big thing is that like. Usually the devs conception of what their project is going to be is retarded. It makes me think of the fuck, what was it called?
01:17:52
Speaker
What was the coin called where like the dev fucked up really bad and was like invoice chats? Slurf. Yeah, that was amazing. Slurf was the most entertaining thing ever. For the longest period of time. No, I mean, it's weird now. I feel like it's like, I feel like what happened with CT or at least my
01:18:16
Speaker
audience like my timeline or whatever is like the people that were in like once this this run started people made a bunch of money and then like went outside and then now it's like the people that are on crypto Twitter all the time are like small accounts that are just trying to grind on Solana really hard but it's like they're getting
01:18:39
Speaker
Scammed or like whatever. I don't even know but it's like it's just a weird narrative Like I kind of I don't miss the the bear market, but there was some purity there some hopeful purity in the bear market that I that I appreciated on the timeline because everyone was so unsure of The outcome, you know, and now it's yeah now there's this sense that uh, there's there's a very established pathway if you want to scam people now, I think is the main issue and
01:19:08
Speaker
Which is, it's basically like the, you know, there's a lot of these like 5,000 follower accounts that have realized that they can just like endlessly. Like you can spin up an account and run it to 5k followers in like a couple of weeks. And then you can use it to just endlessly rug your followers, uh, on like small cap shit coins. And you can run up like a decent amount of money actually doing this. And, uh,
01:19:34
Speaker
It's not like a great long-term plan, right? Like I think, I think this is the problem with crypto overall is that it incentivizes a lot of very short-term thinking. And especially now that everybody has sort of decided that this is all a cycle and it's never just going to be a thing that just goes up because it's good. Uh, so you have this like extreme cynicism that's led everybody to think I have to get as much money out of this bitch as I can before it goes to zero. And, uh,
01:20:05
Speaker
You know, that doesn't lead to people being like really moral actors, right? Like I understand why everybody gets a, gets like a KOL, uh, allocation, and then they just dump it immediately on launch. I understand why they do that. I don't do that because I.
01:20:24
Speaker
I have a more long-term view of my reputation, but a lot of that is also just due to the people that I talk to in my size and the space that I occupy in all of this. If I had a smaller account that was more disposable to me, I 100% acknowledged that it would just be probably higher EV to just scam.
01:20:48
Speaker
Right. Just like run up, run up an account to a 3000 scam and exit. There was some account that did that, that people got mad about recently, like Pepe, like some like Pepe XRT, some Malady account that like just scammed a bunch of people and like ran it up to like 12 K followers, 15 K. And then just, just deleted his account and like got out of there. Like it was like, people were like, he's going to jail. He's going to jail. Did you see that?
01:21:16
Speaker
Was that the stack guy stack exchange or something? I don't think so. I don't know. It's something that happens quite a lot, really. And I don't know. Like it's bad because, you know, everybody prioritizing meme coins and thinking that the.
01:21:36
Speaker
This is all ephemeral. The cycles are going away. Sorry, the cycles are eternal. It's always going to zero at the end of this all. Everything is a joke. Our industry is a scam. That is going to happen to most meme coins though. Yeah, but I mean, that's why, like everybody's focusing on meme coins and they've given up on the tech because of this mentality specifically, right? Yeah. And I think, like I understand it, I like meme coins. Everything that I do is basically meme coin adjacent or like promoting
01:22:06
Speaker
meme coins. I like it. I'm not like against meme coins, do not get me wrong. However, I think that the hyper cynicism and thinking that crypto is exclusively a casino does make you a less moral actor in the long run. Because people like people like to say, oh, like, it's not going to change how I think or it does.
01:22:29
Speaker
influences what you do and the people who think this stuff like this is why i even myself stopped repeating this is because i noticed that when you think that you do start prioritizing short-term benefit over long-term benefit and it's not good right like it.
01:22:48
Speaker
long term benefit and morality overall is, you know, I would go so far as to say that the entire moral structure, like everything that we consider to be moral is not a product of any sort of like ethereal ethics, right? Or like a biblical teaching about it. Moral actions are those which are incentivized in the long term. So
01:23:14
Speaker
When you start prioritizing the opposite of that, it necessarily makes you immoral. It necessarily pushes you towards
01:23:24
Speaker
exploitation and extraction and all of these other things where you try and fuck people over. Right. Like it's like why I stopped shilling ox when it got up above like four cents. Why I why I slowed down shilling after it broke out of like the two to three cent area. But you also you to do like the opposite of that, like with incel or whatever, like you were just joking around because like you didn't want to be a shill person. Like you didn't want to shill like a coin. You were shilling it in like a sort of
01:23:53
Speaker
I'm here for the fun like that that was the thing I think that like in cell proof to me is like there was a point where I had the ability to dump in cell for like 200 K and I didn't because It was funnier to me to like do the art of it So like there's a number I'm sure that it could have gone to where I would have said, okay, I'm dumping on you guys But it appears that my number for like what I'm willing to dump on people
01:24:23
Speaker
and like destroy the art of it is like just higher, I guess, than others. You're playing the long game.
01:24:34
Speaker
Yeah, I mean, I think it works out like Bruce is the same way like people and they've largely figured out that this is true by now, but people used to think that Bruce was like shilling shit that he was heavily invested in or stuff like that. But like they've now realized like Bruce and I largely shill coins that we have none of because it's a lot easier.
01:24:57
Speaker
Yeah, you know like it's just easier to show things that are your friends and you have no investment in but it's like I like these guys I think they do fun stuff and I I want to support them but I have no stake in it because when you have a stake in it things do get really weird because then it's like You don't really know like I don't know it turns it from a community into a financial instrument really and like this is a lot of the reason why I've been fine like
01:25:28
Speaker
engaging with Malady is because like I don't really like actively trade them that much and I also don't really actively tweet about Malady or its price ever so
01:25:39
Speaker
You know, it's like, it's the problem that Ansem is getting into because he bull posted with for so long and now it doesn't do that as much anymore or something. It's like the problem is like, why aren't people are like, why aren't you tweeting about this? Like, why aren't you like still on the team with us? Like, you know,
Influencer Standards and Anonymity on Twitter
01:25:54
Speaker
right. Right. And then they, they think that you're like a rugger if you like start promoting different things because they relied on you basically.
01:26:02
Speaker
This is something that I think has changed a lot from earlier crypto Twitter actually is people are very bitter, right? They, they hold all of these KOLs to these sort of unreasonable standards. They, they're also delusional in that they don't understand that like,
01:26:16
Speaker
There's not really much that a token dev can do to pump their token, right? Like they go into the telegram and they complain and they say, oh, devs win marketing, win exchange listing. Exchange listings don't even pump shit anymore. And marketing, like, what does it mean? What are you asking for? Think about that specifically, you know, because the coin has a marketing budget. How do they get the marketing budget out? How do they turn it into something that is going to be able to pay for marketing? It's by selling on you.
01:26:45
Speaker
That's not what you want, is it? And then if they do sell on you, you say, oh, devs are dumping. Devs are ragging, right? So like instead of going and bitching in the telegram chat, you should probably try promoting the coin.
01:26:59
Speaker
and growing the community and doing something yourself because it is not going to happen through these other like retard pathways. Or you just talk about something else like what you do or what Charlie does. You just talk about anything like you just like talk about anything else and people are like true.
01:27:17
Speaker
So true. So true, Charlie. So true. Lucas, like it doesn't, that's how you promote your account. That's how you promote anything is the issue is that there's a limited number of people. This is, this isn't something that can really be taught. There's a limited number of people who are interesting enough and capable basically of like generating attention at a given level. And.
01:27:39
Speaker
So everybody, everybody I think is starting to realize this subconsciously and they're getting forced into this position where they basically have to go and beg these like attention funnels to point attention at their thing or else they're like powerless. Uh, now the issue is that this kind of trains people into believing they're not an attention funnel and thinking that they can never become one just because they have a small account, right? Like.
01:28:02
Speaker
A lot of the people who are like the best fudders are actually like kind of funny and entertaining and they just need to like redirect their focus towards bullposting instead of funny. I think of like OX Dasha. I feel like she has a good account and like she... I don't know. Do you know her account? Do you know who this is? I do know her account. She is taking some shots at people that I'm friends with so I will not...
01:28:29
Speaker
She definitely takes a lot of shots. She definitely takes a lot of shots. That's for sure. Yeah, we can move. We can move past that. That's OK. No, I mean, you can talk. I'm just saying I'm not I'm not going to take a strong stance on her one way or another. Oh, yeah. Same. I just like her account comes to mind because like.
01:28:47
Speaker
There's some intelligence there going into her posts and like it's funny because it's also like a deep mental instability, but like she does clearly have like a brain, but it's also like I can see her flying off like really easily. You know, there's a lot of people like this in crypto.
01:29:05
Speaker
Yeah, that's true. Yeah. No, I mean, I think of it as this person. It's to me, I just think of it as like someone that expresses their personality well. And like in a world of malady PFPs or Amelia PFPs where it's like there's thousands and thousands of accounts. It's like if you can get your presence known past that, there's some skill there that exists. Yeah. Like if people know who you are, you've succeeded to some extent. You've succeeded. Yeah. Because it's like,
01:29:32
Speaker
I can look at that. Now you're a character in the grand stage of CT. Most people aren't. Most people are completely unmemorable and they just fade into the backdrop. It's true, yeah, yeah. I think that there's a longevity aspect to it that people can leverage or whatever. But also, I think that if I just look at some random Malady PFP tweets on the timeline in a row, it'll make me chuckle.
01:29:56
Speaker
because it's like some little joke that's like oh that's funny haha you know what i mean the anonymous factor plays into it like just like a lot of things play into that being like funny but it doesn't stand out to you it doesn't make you stand out at all it's just like you know it's like yeah no no it's it's uh and milady sort of like
01:30:14
Speaker
They did hack it a little bit by doing the milady reply chains to boost engagement. Instead of like the standard GM thing, but it is fundamentally the same thing, you know, it is just, it is just giving your low IQ community members a way to repeat some.
01:30:31
Speaker
dumb little thing so that they don't have to think of content themselves. And it's like, Oh, well it's, it's different and slightly less fatiguing because repeating Malady is not the same thing as repeating GM, but it's the same fucking thing. You know, it's the same exact thing. And every community I think has to have some version of this because you just like,
01:30:54
Speaker
You're not all going to be geniuses. Everyone wants the thing to be geniuses exclusively. But in order to maintain that, you have to either never grow or somehow attract every genius in the world to buy your crypto scam, which is very unlikely.
01:31:13
Speaker
Yeah, I'm just thinking about like then there's yeah, just like the genres of this because I feel like there's people that are just not a non that post themselves. A lot of girls that like this girl Ashby where she like ate a hamster or some shit. Like there's people like that that grow their account from like just being
01:31:28
Speaker
not a non, basically. There's just, this is me. This is my whole thing. I'm going to like bolt, like shit, not bullposts. I'm going to just post this, my identity, like on the timeline. Then there's like coach Bruce. Or I wouldn't say coach Bruce is kind of different because he's its own thing. But it's like that Gucci bucket hat guy, that Ramelia thing where it's like, he's has, he's, he's like, it's like a block. He's talking about.
01:31:54
Speaker
like, ethnic groups and things like that. You know what I mean? There's like versions of this, of these personalities that happen. And then like yours, yours, as we discussed earlier, is like this weird thing that crosses all these different lines where you're talking about like gender relationships. And also it's just a combination of a lot of things. Like Coach Bruce, I would say is similar to the Gucci bucket hat guy in some ways.
01:32:26
Speaker
but not as crude or something? I don't know. I don't even really know what I'm talking about at this point. But I think you kind of get it. Anyway, I feel like this is here. Sorry. Can I hop off for like five, 10 minutes? I have to call someone for something. But I will be back. I was thinking about, were you a Boy Scout? I was not. OK.
01:32:59
Speaker
Kind of into Boy Scouts these days in terms of the lore and how really why Well, I'm thinking about doing a Boy Scout of America Boy Scouts of America NFC collection But like going in really hard on like the history of Boy Scouts sort of in like this weird Preserving American culture way and not in the like they were canceled for pedophilia way, but that kind of works with the audience our audience whatever anyway, but
01:33:28
Speaker
They just rebranded as Scouting America. It's called Scouting America instead of Boy Scouts because they basically shut down. They allowed girls and then there was something insane like 94,000 cases of pedophilia or something or sexual abuse in the Boy Scouts. Like something where I feel like
01:33:49
Speaker
Lawyers took advantage of the situation like to get money from them or something, but Historically, I think it's interesting how like the Boy Scouts were meant to like sort of
01:34:05
Speaker
take like Native American ideals and culture and like sort of like culturally appropriate it into like living off the land and like sleeping in a teepee and like carving stuff with like a knife. It's kind of interesting to me. And all that old American art like
01:34:22
Speaker
Did you ever this book like there's like this American boys handy book that like a lot of kids grew up with that was like There's a few of those the ones that like just every boomer recommends all the kids get Because it's like the alternative to like iPad hell Yeah, yeah. Yeah, like I grew up with it and it's like
01:34:39
Speaker
I'm sure a lot of people did but like the art in those books is really cool because it's like these old drawings of like, it's a specific aesthetic that I that I've kind of think would be cool to do as an art collection or whatever but
01:34:56
Speaker
The Boy Scouts is really interesting to me. I got up to We Blow Scout. I never got to Eagle Scout. But if you got to Eagle Scout, you basically could get into an Ivy League school. You proved that you got to the final level of this thing. And then it's like, that's how you got into Harvard or Yale or whatever. But I mean, shit's interesting. I don't know. Because it doesn't really exist anymore. I would say that's going to be a really tough one.
01:35:23
Speaker
to do an NFT collection over because first of all, it's like an inherently politicized territory that is going to be a little bit, it's in two realms that I think would make it a little bit pain in the ass. One is that it's like inherently politicized and you're also in that weird like trad territory where you're sort of, it's not quite pushing trade school, but it's like a similar thing.
01:35:45
Speaker
Yeah, but I think that in terms of the layout of the... There's Cub Scouts, the levels of the... It would work with traits and it would work in this cutesy PFP way. I don't know if we're thinking about it the same way, but as a theme, I feel like it would work in terms of content for the art and stuff like that. And then it... I don't know, I think it relates... So many people were Boy Scouts.
01:36:14
Speaker
that are on crypto Twitter, probably like half. Really? Oh, yeah, for sure. They like it. Do they like it? I don't know. But I feel like since it's gone away, it would be cool to like sort of nostalgically go back to it in some weird way. I don't know if they like it. It's basically gone. Nobody does it anymore. Oh, I thought you meant it was like defunct, abandoned, debunked.
01:36:37
Speaker
No, it's still it is basically. I mean, like they were like canceled. Essentially, the Boy Scouts was canceled. Like they let girls in. Then that was there was a huge problem with that. Like a lot of the original Boy Scout groups were like, fuck this. Like this is not like they didn't want to let the girls in. And then I wouldn't. I mean, it's retarded.
01:36:59
Speaker
retarded but then it became like this thing where like the counselors like the troop leaders were like you know like diddling the boys or whatever so like that became a big issue and then they were just basically shut down and they're trying to rebrand that's the other thing too is like if you uh if you don't allow girls into a thing then you get the entire lens focusing on you and so like
01:37:23
Speaker
Like obviously fucking kids is bad, but it should be understood that there's a rate of fucking kids that every organization has. And the rate that it happens is very different than the perception of what everyone thinks that rate is, right? Like people always make fun of the Catholic church for being like the kid fuckers, right? But if you look at the Catholic church versus public schools and you compare incidences of pedophilia,
01:37:50
Speaker
The Catholic Church is like zero compared to fucking public schools. So someone influenced that perception to be wildly different than reality, right? And this is something that can happen anywhere. If you want everyone to think Boy Scouts are all pedophiles, you can do the same thing. And if you exclude all the women, there might be a media apparatus that's going to come out and say like,
01:38:13
Speaker
Hey, uh, these guys who kicked us out are all fucking gay pedophiles. Yeah. I mean, I think that bad news travels faster than good news. So in the reality we live in, if you have like a stain on your institution, then that's literally what everyone is going to be thinking about it. If you're like, are around our age or younger, because that's just how the world works now. So it's like, you can't really get past that unless like.
01:38:42
Speaker
You just decide that it's not in your mental capacity and you're just ignoring it or something like that, you know? Because I don't think anyone could talk about the Catholic Church without bringing up that there's pedophilia cases now, unless you're like 90 years old or something. You know, is that wrong to say?
01:39:06
Speaker
Sorry, I missed the last part of that. Oh, I just think that like, you know, the stain that comes over an institution, like in terms of the Catholic Church or Boy Scouts or whatever, it's like when you're discussing that now it's impossible not to mention that because that's such a big part of it. It becomes like the focal point.
01:39:24
Speaker
Yeah, yeah, you have to like address and then it's really annoying too because like when you're such a small organization and someone talks to you You want it to be about something else sometimes, you know, like you see this with a lot of like artists who had like a one-hit wonder where Someone wants to interview them and they want to like talk about anything other than that one fucking song they made But that's all anyone cares about Yeah, no, it's true. It's it's it's fucked up
01:39:56
Speaker
If you're like you probably think about like this Bulma thing like as like a big thing in your Not really. I won't say it's a big thing I understand that nobody else really gave a shit about it and it was like one day of thing that happened it's only interesting as Something in my life where I got to see like a few things one of them being Extremely low media literacy for like air quotes trolling etc on crypto Twitter another being a
01:40:17
Speaker
That's the way it is. That's the way it is.
01:40:27
Speaker
who, cause like a lot of these people who were like saying, Oh my God, that's so inappropriate. Like a lot of these guys knew it was a joke, right? And they were just going along with this because like Bulma was like a girl. And, uh, so it was just yet another example of the way that like, uh, guys will be weasels. If, uh, if they think it gets them pussy somehow, right. Hmm.
01:40:53
Speaker
Yeah. That's something that, you know, it sort of happens in college all the time where you have these like ankle biter guys who are always trying to like rat fuck you or, uh, you know, like if you have a hot girlfriend, there's always going to be like a group of guys that are trying to like convince that girl to break up with you. Right. And you see this, this phenomenon, like this type of guy everywhere you go all the time. And they're always basically like,
01:41:23
Speaker
trying to succeed through like devious weasel ways as opposed to just like winning by merit, you know? So like in this case, they might think a thing is funny or they might know it's a joke, but they don't care. They'll pretend to think it's this other thing because their goal here isn't like any sort of accurate representation of truth, but it's like I have to ingratiate myself towards a woman, you know?
01:41:49
Speaker
Yeah, it doesn't work though, because I feel like when you, if you're, yeah, in terms of like, right, it doesn't, it doesn't work because there's a bajillion of these guys and you can't stand out
Social Influence and Credibility in Crypto
01:41:59
Speaker
doing the same thing that a bajillion other guys are doing. Uh, and like, maybe it feels good to like, just, just keep like sucking on the labial folds of like global kindocracy like this, I guess, but it never takes you anywhere. Yeah.
01:42:14
Speaker
It's like no one that is, for some reason I'm thinking about Ansem now because everyone is attacking him somewhat or like talking about him, like no one in Ansem's replies attacking him is going to be as big or bigger than Ansem because they're just below him in that way.
01:42:30
Speaker
Yeah. And also there's this thing where like at a certain level of notoriety, infamy, fame, whatever, like e-cloud, whatever gay influencer term you want to use to measure this, there's a certain level of it all where people just kind of stop disagreeing because it's like a game theory thing, right? Like why not just get along with people?
01:42:51
Speaker
you know like this this is the same reason that like a lot of the crypto Twitter big accounts they actually fucking hate each other in reality they get along and they pretend that they don't hate each other on the timeline because game theoretically they understand that it's better to like have everyone as one big happy family without these splintered factions and shit like that it just is
01:43:14
Speaker
It's overall more beneficial for liquidity conditions in like a weird way. Uh, and crypto Twitter is interesting too, because they demonstrate through actual financial flows, a lot of things that are just like true socially. You know, like there's a lot of general social rules that go on in any sphere that you see literally measured in crypto Twitter where, uh,
01:43:39
Speaker
And especially now with like social phi and stuff like that, you can literally like long someone's social capital and stuff. They don't necessarily measure that like secret influence, right? Like everybody has a level of influence and there's like a public perception of your influence. And then there's like what actually goes on behind closed doors. Which is like in discord, private discord chats or whatever. Or just like who you're talking to, right?
01:44:04
Speaker
A big thing that happened with me when I started doing the podcast with Sue was people went from thinking that I was some random shit poster to thinking that I'm now a much more influential person just because of that, because they saw me talking to someone who they assumed to be a cabal member with fairly regular occurrences. And in reality, did anything about my ability to influence change? No. I was always talking to Sue.
01:44:32
Speaker
But now that they see it happening sometimes, there's this weird shift. It makes you realize that if they also saw the other people you're talking to, they would have this other jump in their perception of how any of this works.
01:44:49
Speaker
I don't know. Yeah. And that's true in social, in, in, in, that's true. Like that's just reality in real life. Like if you're, if you're in a business meeting and you're spotted with like the boss, you know, people are going to treat you differently in your office or something like that. Well, everybody has a different way of handling this, right? And something that I do that I'm realizing is overall just like a net.
01:45:09
Speaker
It's net downside to me overall. I really don't think there are upsides to this, but I tend to... Some people will name drop people, talk constantly about everyone that they're dealing with, all the protocols they're working with. I don't. I tend to not really go around
01:45:32
Speaker
like flaunting all of my associations with everyone. If they're like a good friend, I talk about it. Like I talk about knowing Charlie, but it's like I've done this regardless of Charlie's level of notoriety or infamy or whatever. Like he's, he's a friend. And like, regardless of like, whether Charlie goes to zero or 10 billion or I go to zero or 10 billion, like he's still a friend.
01:45:57
Speaker
And I'm still going to like talk about funny things we did. It's like the same with verse or stuff like that. And other people.
01:46:08
Speaker
don't really do this. Other people like name dropping. Other people like making themselves seem smarter or better or doing upwards ego flexes. They say they're better at trading than they are. They talk about all the genius things they've done. I tend to like talking about all the retarded mistakes I've made, partially because it's funnier, but also partially because a lot of my goal with posting is to try and get people to internalize a message, really. If I'm effort posting,
01:46:37
Speaker
it's usually to try and drill something into someone's head, right? Like when I did my big long post about like what I did in 2017, the reason that I talked about me being a retard and making a bunch of bad decisions is because people don't really, like they have like a defensiveness that gets activated when somebody is talking about the good things they've done or the things that they've done that have outperformed the person looking at it and reading it, right? But if you talk about being a retard,
01:47:07
Speaker
and you talk about fucking up in a way that like brings you down to a level below where the reader sees themselves you can kind of like. Get your foot in the door and actually deliver some sort of informational payload that otherwise doesn't stick with them.
01:47:24
Speaker
Yeah, no, of course, because, you know, 98% of the people or whatever are like this large amount of the, of the people are scammers. So it's like, and also then there's like VCs that are just trying to like not show any inkling of a mistake that they've ever made and like delete tweets and cover things up. So.
01:47:44
Speaker
Yeah. Yeah. But the thing is that works is the other thing. No, that works. You are able to make people think that you're very successful at things that you suck ass at by just stating repeatedly that you're really good at it. Dude, there's this guy. Do you know this influencer, Luke Belmar? Have you seen this guy? Yeah. So. That got that guy to me is really scary because
01:48:11
Speaker
I felt like I think actually someone that I'm friends with here has done a podcast with him. And I think they might have. I think they might have mocked him a little too hard because he didn't want to repeat it. He didn't want to post the podcast. But no, I don't. I don't. I don't. I guess what I'm saying is that like I've always been really suspicious of this guy because he like came out of nowhere because he like sort of just ended up on this like Andrew Tate sort of like level podcast type of thing or whatever or video clip and like
01:48:40
Speaker
People were like kind of doing a deep dive into him recently and like found out a lot of like information about him and like kind of were like also suspicious of him or whatever. But like when he talks about his trades or like what he did in 2017 or like the last bull run, it's hard. It's really hard to believe that that's true. Like he's basically just claiming that he sold the top, you know, a bunch of times, you know.
01:49:00
Speaker
Yeah, the people who say like, oh, how did I make a billion dollars? I just did everything perfectly and then never made any mistakes. And I don't even know how I learned this skill because I've never fucked up ever. Yeah. And he has like this weird capital club where it's like you pay like a hundred K and you go on like a retreat with a bunch of people that paid a hundred K to like learn about business or whatever, learn how to make money. It's the whole thing is really sketchy to me and weird. And it's like very.
01:49:29
Speaker
he talks about crypto a lot. So he like comes up in my timeline and I'm like, he has, you know, it's like what's called veneers when you get like the fake teeth that are all like white. Oh yeah. When you grind everything off and then that shit is scary to me. The whole thing about it actually does horrify me. Yeah. It doesn't look good to me. It doesn't lie. Like I think, I think it can be done in a way that looks good as with basically all plastic surgeries or whatever. I think it's rare that it does actually happen. And I think the idea of doing it to start with is very, uh,
01:49:59
Speaker
scary. Yeah. I mean, if you're like a celebrity and you're going to be, if you're an actor and you're going to be in movies, I get it. Sure. That's fine. Sure. Like, you know, you want to like, but they could do that probably in some sort of temporary way as well. I just have a level of permanence that I ascribe to like teeth, hair and eyes that are something like like a nose job.
01:50:21
Speaker
I don't necessarily, I don't know. All the plastic surgery stuff is a little bit weird to me. I understand that there are situations in which it might be valuable. And the more front facing you are, if you're especially a sales guy or something, it makes sense to invest in stuff like this. It will pay off long term as long as you run the volumes and you're not being dumb about it. But more attractive people sell better.
01:50:52
Speaker
So that makes sense. A lot of this other stuff when it gets into just vanity territory doesn't make sense. But if you're an influencer, it makes sense again, right? So there's like a cost benefit to doing that. The teeth thing specifically, though, is just horrifying to me because they are very permanent. And like, uh,
01:51:10
Speaker
There's nothing that can happen to your teeth that adds on to them, really, right? Like, I mean, theoretically, your saliva has the hydroxyapatite and it's always recalcifying, blah, blah, blah, at some level. However, it's not the highest level and it's not going to be enough to regenerate the amount of enamel you grind off, especially because you're getting down to the fucking dentin. And we can't really regrow teeth. We don't have a great replacement. You can say, oh, well, you can get an implant.
01:51:39
Speaker
those are also iffy and your bone might actually just like you know how that goes like you get an implant and uh because it's a titanium implant as opposed to like a uh a tooth with blood vessels running through it the bone there now starts to dissolve and you're now losing bone and you're losing jawline because of
01:52:04
Speaker
this implant that you got because you're, you had a tooth problem. So I don't know. Like the thing with teeth is that there's no permanent solution. There's no thing that you can just pay so much money to like fix it with and then just have it be done. So like the idea that you're going to do something that intentionally removes mass from your teeth is horrifying to me. The idea of filling cavities even is horrifying because they cut out a bunch of additional, uh, they cut out a bunch of additional tooth there so that.
01:52:34
Speaker
basically so that they can prevent the tooth from cracking. If you look up a
01:52:40
Speaker
If you look like a dental handbook up and you see why they form the shape that they do when they're carving out your tooth to put the filling in there, it's mostly to do a few things. You want to make sure that the filling doesn't pop out, but you also want to make sure that the stresses are distributed to the existing remaining tooth in such a way that when you're chewing, it doesn't crack everything and destroy the tooth that's left, right? So in order to do that and save things long-term, you need to cut out more.
01:53:10
Speaker
and make sure that the stresses are distributed evenly. Because if it was just as simple as cutting out all the decayed tooth matter and then filling that in, it would be a very minimal amount of your tooth that's actually removed. Anyway, all of this is to say, every problem you have with your teeth requires them to take off a bunch of fucking tooth tissue and you can't add it back.
01:53:36
Speaker
So it's gone forever. So if you get veneers and you're like 25, you now have like a very long period of your life now, multiple decades where you're just hoping and veneers themselves need to be replaced, right? Yeah. Cause like every 10 years or some shit, they, uh, they, they blow out. They're not like infinitely durable. Like that's the thing with enamel is it's actually both extremely durable and self sealing and self healing, right? Like cracks in.
01:54:04
Speaker
Okay, we can't say this definitively because it's never been replicated technically in people, but they took the same mineral composition as exists in teeth. And they have demonstrated that under forces that you would see during mastication chewing, if you have cracks in this along one, one side of the grain structure, and you press back with that force that you would see in mastication, it will self seal the cracks.
01:54:31
Speaker
So, which makes sense, right? Because like everything in the body that exists as a hard substance for
Concerns about LASIK Surgery
01:54:43
Speaker
like the whole lifetime of someone has the ability to heal to some degree, right? Yeah.
01:54:51
Speaker
Unless you're like diabetic or something. Yeah. Like it would be very weird for Keith not to have some way to repair themselves, at least a little. And we know again, they can be remineralized by calcium in your saliva. And, but again, that, that doesn't really deal with the cracks. And we see that they have cracks in one direction, but it's also the direction that is perpendicular to that, which you would experience mastication forces, right?
01:55:17
Speaker
Yeah, I mean, it's like taking testosterone or like getting LASIK. It's like the sort of the same thing. It's like your eyes are going to fade naturally. You spent like 10K or something, 5K to get your eyes. Good. I mean, it's a little different with that because they don't work permanently either because you know, they don't. And then it continues degrading. And now you're in this weird situation. I mean, I don't know if you've heard my fucking LASIK rant.
01:55:40
Speaker
No, but I want to just go for it. So the thing with LASIK is when you cut your eye, the eye doesn't heal the way that people are used to tissues healing, right? So imagine you cut your thigh right now down to the bone. And imagine if instead of healing up like all those layers, the muscle, the fat, the skin, imagine if only the skin healed back and the tissue beneath just never healed again.
01:56:09
Speaker
That's your eye. So only the top, like the very top layer of cells on your eye actually grows and heals back together and the underlying parts do not. So when they do eye surgery, like if someone needs to go inside of the eye and they cut through the white of the eye, the way that they do it is they cut out a valve such that the pressure from the fluid inside your eye pressing out closes that valve because of the way that they've cut the incision, right?
01:56:37
Speaker
And that is done because it doesn't just heal back normally. It's only the top layer on either side of the tissue. The same is true of the cornea. When you cut through the cornea and you go and you blow out the underlying transparent tissue, what happens is only that like top couple cell layers heal back. So if you get an impact at some point in your life, you can jar that flap that they cut off open again.
01:57:05
Speaker
And it can like flop around like it's a permanent structural weakening of your eye. And it's another way that it permanently structurally weakens your eye because when they cut out that tissue now your eye is now your eye is there's less mass on the cornea. Yeah.
01:57:27
Speaker
And the reason that people get nearsighted in the first place and why near rates of nearsightedness are so much higher now than they ever have been historically is because people look at things up close.
01:57:39
Speaker
Right. And people, like people read before nobody was on their cell phone for fucking 16 hours a day before. That's insane. They were focusing off at like things in the distance. And what happens when you focus so much on things up close is the muscles that flex the lens of your eye to get it into position to focus on things up close, wind up like getting stressed and strained and sort of like with any other muscle in your body, when you use it a ton, it gets tight.
01:58:05
Speaker
However, you don't have a great way to stretch these or massage these muscles in your eye like you might with other ones. Traditionally, you can go and you can look far away and that kind of does the same thing. People don't do this though. So you develop what's called pseudomyopia, myopia.
01:58:25
Speaker
which is basically just a sort of nearsightedness that occurs not because, uh, your eye has elongated yet, but because you have been focusing so much that your muscles are, are tensing up. And the way that your body solves this in the longterm is literally by elongating your eye like a football so that, uh,
01:58:44
Speaker
It's trying to like outpace that, right? It's trying to reach equilibrium so that at the point where you're focusing most of the day, which for most people is when they're looking at something very close, you can see clearly, right?
01:59:01
Speaker
So when you focus on something that's very up close and your body is trying to elongate your eye such that this is the perfect focal plane for you, it winds up making your eye sort of longer in the back like a football, which makes it weaker, right? People who are near sighted have weaker eyes. If you get hit in the eye, you're some factor more likely to have like a permanently damaging
01:59:29
Speaker
thing go on a permanently damaging complication than if you're farsighted or if you just have perfect vision. So when you correct this by changing the lens of your eye. Now your your eye wants to elongate faster again, there's an age at which this becomes harder and your eye can't really keep doing this forever. But
01:59:55
Speaker
It still can happen. And now you're in the position of having an eye that has a flap. You have an eye where your cornea has been reshaped to a different thing, right? And this different thing usually has sort of edges. And this means another two things. One of them is that you can't use normal contacts anymore because, uh,
02:00:14
Speaker
they're designed for people who have corneas that haven't been modified by like a laser or something. And the other thing is that these edges get smooth because if you think about what happens to your eye when you close your eyelids, there's a gradient of pressure that gets applied across everything. And for most people, this isn't an issue because the surface of your eye is smooth, right? And
02:00:38
Speaker
Your, your eyelid is pulling across it with a, it's applying a constant pressure to something that's already smooth. There's no stress risers, you could say, but if you remove tissue from the center and you carve out sort of a bowl shape.
02:00:51
Speaker
Now there are ridges that are experiencing higher pressure whenever you close your eyes and go to bed or just blink even than the rest of your eyes, which are experiencing lower than usual pressure because they've been pushed out away from that like hard contact with your eyelid. So that additionally tries to remodel the surface of your eye. Yeah.
02:01:15
Speaker
Also, also the reason it's pushed so fucking hard is because it takes two minutes of OR time and you can bill for like half an hour. So if you're talking about maximizing profit from a hospital perspective, LASIK is one of the most profitable per minute things that they can do with their OR.
02:01:37
Speaker
I wore contacts. I'm like a glasses wearer like for life, but I wore contacts for one year when I lived in LA and the contact dried in my eye one night and it pierced into my cornea and like I had to go to like
02:01:53
Speaker
This Korean like this Korean area of LA for them to like shoot antibiotics in my eye with like a needle And like it was a nightmare and I permanently lost my my vision permanently got worse in my right eye and
02:02:09
Speaker
And like, contacts are horrifying because of a lot of reasons. I'll never want contacts again. But apparently this only happens to like 1% of people that wear contacts, which is insane that it happens. Oh yeah, it's really rare that you actually have. Like, most people can go and they can sleep every night or they can nap in contacts without issue. And then there will be some person who will try doing this because their friends talked about it and they will just instantly develop like a corneal infection and go blind forever.
02:02:34
Speaker
Yeah, no, that's what happened to me. There was a pus and an ulcer of bacteria that was growing in my eye because my cornea got pierced. It was horrible. I thought that my eye would return to its normal vision after this whole process. And then I remember being like, oh, wow, my eye is fucked for life. This is insane. I'll never wear contacts again. Yeah, that's the thing. They just keep getting worse.
02:02:57
Speaker
Yeah. And I could have gotten LASIK and I remember I got tested for LASIK at one point and I decided not to go through with it because I had to do a slightly different procedure because this thing happened to me with my eye. Yeah. And it just seemed a little bit more sketchy in that way. I don't know. People also don't understand. LASIK, yes, it's very safe in the sense of it has a low rate of complications. You're unlikely to experience problems if you get LASIK. It's like under half a percent of the time. But the thing is that
02:03:29
Speaker
When the complication involves going blind, like you've got to really consider that man, because like, yeah, glasses are inconvenient. But like, again, there's a reason that most ophthalmologists don't have fucking LASIK or they don't get LASIK. Like they just wear, they wear glasses and.
02:03:45
Speaker
A lot of that is because like that's a big thing to gamble on, man. It's like we're in crypto because crypto has asymmetric upside, right? I can gamble five dollars and I can lose five dollars, but that five dollars can also turn into like a thousand, right? Asymmetric upside, limited capped downside. And it's like the reverse with LASIK. You get like a very small benefit, but like a huge fucking potential downside.
02:04:11
Speaker
Yeah, blindness. Blindness like that. It's really fucking big, dude. Nobody nobody really stops to think about this until they get old and they have something that impacts their ability to see. But like if you ever have to go like a day with even only having one eye, you realize like, you know, when I got when I had eye surgery because because my cat like scratched through my eyelid and ripped that shit in half.
02:04:35
Speaker
I realized very quickly that only having one eye would suck a lot. And now I'm very guarded about my eyes, right? If I lost both of them, what the fuck do you do? How do I live my life? I don't know how I do my job, man. I can podcast, I guess. How the fuck do I post anything? How do I copyright?
02:04:56
Speaker
Are we crazy reading like Twitter, like crypto Twitter, like braille? Yeah. Yeah. Or like you have to have it like dictated to you or something. Or you're just like, you're just like touching the screen and it's like scrolling by and it's all like physical and like printed out bad. Like my life is ruined now. Yeah. Yeah. No, I mean, it's like, it's like losing your hand. I mean, I don't know. Like I have relatives that are deaf, but like that's a totally different thing. They can see, they can smell like being deaf to me.
02:05:26
Speaker
It's not that bad. Like, of course it would suck. Being deaf is something you can work around, right? Oh, yeah, for sure. Not ideal. As a podcaster, uniquely, it would be bad for us. But like...
02:05:38
Speaker
Again, it's something that can be dealt with and honestly, the cochlear implants are getting better and better. Deaf people, they're kind of assholes in that they've done this thing that only makes sense within like a modern Western context, but they're sort of starting to say like we've formed our own culture and like we oppose cochlear implants. We oppose giving people the ability to hear again because you're killing members of our community and transforming them into like normies, which is like
02:06:08
Speaker
I get it I guess like you know but it's just like okay fuck you guys. I don't get that other than that like through having this my aunt my uncle I know that the deaf community is really tight and they're like like they have more friends than like non-deaf people like they have a community like they can go bowling they can go to the lake they can go camping like they can do a lot of things like there's like a crazy
02:06:31
Speaker
They have a crazy hold over their people. So I sort of understand why they feel like getting some sort of implant would make you leave the community or something like that and become a normal person because the deaf community is really strong from my understanding of that. They have a lot of friends, a lot of people. I also feel like if you grew up deaf in like the sixties or like the, you got, you got like picked on like pretty, pretty, pretty hard. You know what I mean? You got sent to like some school with just the deaf.
02:07:01
Speaker
You probably had like weird, angry teachers. Like I have a little bit of sympathy there because I feel like you just got railed on. That's the thing. They all have a very similar shared experience and they want to preserve that community of people with that thing. It makes sense. Like everyone who has like a large, similar and traumatic sort of story to get there,
02:07:25
Speaker
comes to the same conclusion. It's similar even on crypto Twitter,
Crypto Projects and Community Management
02:07:28
Speaker
right? Like in order to have survived for a given amount of time, you can basically bet that they've made several million dollars and then lost it multiple times, you know? Yeah.
02:07:41
Speaker
I don't know. It's weird. That's why I like doing media stuff or like this type of thing, because it's like, there's people that I feel like work on these like protocols for so long and then they fail and they're just like crushed and defeated. And like, I'm really like wary of that because it's like, I mean, even though that's, that's cool, building is cool or whatever, but like that shit's scary to me because it's just like, yeah, so much time and effort. And then it's like two people use it or just pumps and dumps in like a day. And you spent like four years or something. And it's also, it's also hostile. I mean, we were talking about this, uh,
02:08:11
Speaker
you know with sue and the rest of them and it's this environment now where it's sort of a no win for founders right where you can build something and it can pump really hard and then everyone will love you but then inevitably like not everything can go up forever right so it goes down and now you're a rugger right or maybe it just never goes up and now you're a rugger uh and maybe it goes up
02:08:33
Speaker
And then you sell and you're a rugger. Right. And then it goes down and then everyone hates you and you don't sell and you're you're honest, but you're also a rugger. Right. So if you like draw out a Punnett square of all the possible options of what can happen to a crypto founder in the end, in the long term, none of them are good. You know, none of them are good. No, like the far caster dude or whatever, like that shit, that shit like pump really hard. And now it's like nobody uses it. But then he got like a big.
02:09:04
Speaker
people invested in it or something, or like you got a lot of money recently and people were like, do you know what I'm talking about? Oh, did Farcaster, maybe I should go on there and start spamming Farcaster. Farcaster was like heavily used like a month or two ago where everyone was like on it and it became this like huge thing, maybe like three or four months ago. And then like, you know, the engagement died, but then they just got like a huge amount of money invested in them from like some massive investment company or whatever. But like, um,
02:09:33
Speaker
Yeah, I just think that the lifespan and the time span of these things is so short. It's crazy. It's basically like LASIK surgery, you know what I mean? It's like, you get it and then it goes, you have it for, I mean, LASIK is longer. I feel like it lasts like 20 years, 15 years maybe, 15 good years of your eyesight. It depends. That's the other thing is you'll have people who, their LASIK is perfect and they never have problems with it and their vision never degrades. And then you'll have people who get LASIK and by the next year, their vision's shitty again.
02:10:02
Speaker
You don't not as shitty as it was before usually, but do you have perfect eyesight? No. No, I'm online as fuck. I'm near sighted. Yeah, I wear glasses and it's like I feel like the only thing that's annoying about wearing glasses is like. There's not that it's not that bad. I mean, they protect your eyes.
02:10:22
Speaker
It probably fucks with your face somehow and your nose because it's like, it does. Yes. That's why I was going to go is the way that glasses impact most people is because, uh, some people don't have noses that are shaped such that even with properly adjusted, uh, eyeglass stems that reach back behind your ears, uh,
02:10:40
Speaker
They might not be able to seat them in a consistent place where they want so that people sometimes have to flex their forehead muscles or their, uh, the muscles above their ears. I'm forgetting what they're called. It's not, maybe it's their occipital. No, I don't think it's their occipitalis. Uh, but whatever there's, there's muscles around your face that wind up being in permanent tension, which wind up like, uh,
02:11:04
Speaker
you know, either reducing blood flow to the scalp or- Just making you look older, making you look older probably. Yeah, giving you wrinkles or just unironically changing your bone structure minorly over time, right? Like even a tiny stress vector, if applied like a three pound stress vector, a force vector, sorry, not a stress vector, fuck me, if applied for a long enough time to bone will still be able to do something, usually.
02:11:33
Speaker
Yeah, no, that makes sense to me. I mean, do your eyes get like this is what I'm like, if you don't wear glasses and you're constantly like using your natural eyes to
02:11:46
Speaker
Look, they get better. They do get better. I did this for a while. I took my glasses off. I didn't wear them. I went from like negative four ish diopters to negative three. And it kind of stopped improving at that point. It stayed there for like a year. Now, I wasn't 100 percent of the time glasses off. I still carried around them around with me because like obviously I still have to do something sometimes.
02:12:10
Speaker
Maybe if I had abandoned them totally forever, or maybe if I wore a glasses prescription that was like a lower degree of correction, it would fix this. I don't know. But yes, I did walk my prescription back because I read some ebook by some guy who basically recommended doing this. And he said that he fixed his vision fully. I was not able to fully do it, but we did something.
02:12:32
Speaker
Do carrots improve your eyes eating carrots? Have you heard that? I think, I think it's like a specific thing where carrots improve like your nighttime site, which is like a specific, you know, because there's the rods and the cones and both of them aren't the same. And the things that, uh, the things that you use to see it in night don't necessarily change your daytime vision. Uh,
02:12:54
Speaker
There are a lot of things that probably impact positively and negatively your eyes. And we don't really know about them. Like this is something that a lot of research chemicals or pro hormones that come out. Do is they'll have some sort of an impact on your eye and people only figure it out after enough, uh, forum retards decide to mega dose it. And then, and then people also think that it's like some contaminant or something, but it's like frequently.
02:13:24
Speaker
I don't know, we're in a weird territory with drugs overall where like, if we just had pure versions of like the OG drugs from the sixties, I don't think we would have that much of a, that much of an issue, but now that's all men made illegal. And then people have like replacements that they're using. And now those replacements are illegal. And now we're on like the third string of us having to come up with like new drugs to make them like.
02:13:49
Speaker
either legal or distributable or possible with people. Meth is a big example of this one where the way that we used to make meth was with pseudoephedrine or just regular ephedrine, but usually pseudo because that was much easier to get your hands on. It was available agriculturally.
02:14:09
Speaker
I think, and now people do the P2P, whatever, like a phenol, I don't know. I'm not, I'm not a scientist on this stuff, but basically they changed the way that everyone made it.
02:14:23
Speaker
It appears that the meth that's going around now, despite the DEA saying that it is both purer and stronger than it's ever been, everyone says that it sucks dick, does nothing, doesn't get them high, and comes with like 87 different side effects. I posted about this a little and I got a bunch of like schizo chemists giving me explanations that involved like,
02:14:47
Speaker
The synthesis itself being fucked up now because the process is different and what they're doing is they're creating Substances that while they literally will test as methamphetamine in a gas spectrography test. It's not the same molecule It might have the same atoms in a different combination though but one that doesn't get picked up through gas spectrography and there was like a
02:15:11
Speaker
Like an example of this they gave was like an ISO something, which is apparently not in most math, it's become used as like a scapegoat by the community of math users on the internet and
02:15:27
Speaker
What was interesting about that one though was that it is very chemically similar to the methamphetic mean molecule, but you can't differentiate between that and meth in a lot of tests. And it was only up until like, I think it was like late 2023 that they actually did develop a test that was capable of differentiating it from meth. So there's a lot of data out there from like DEA, et cetera, that
02:15:54
Speaker
might be testing meth that is not meth and saying that it is meth, right? Yeah.
02:16:03
Speaker
And so it's weird because you don't know unless they tell you what testing methods they use. And that is, sometimes they do it and other times they lie. Not necessarily because they're trying to, because a lot of this stuff involves communication between multiple government agencies and the people who are publishing the data. And that communication is very bad because many of these people are mentally retarded. So it is a little bit of a black box with a lot of this stuff.
02:16:33
Speaker
What I'm saying here though, is that overall we have moved away from the original vices that we've had and we've banned so many of the downstream vices. We're now in a period where like the fifth string downstream vices are just really shitty.
02:16:49
Speaker
and uh probably frankly not worth it like a lot of the people were telling me that like they used to do meth and they stopped because it's just like they were like yeah meth used to be worth like the downsides before and now it just isn't so i i quit and i was like oh holy shit that's so much other shit it's cut so much other shit yeah yeah they're like it's just like it's not worth the high it's not even worth using uh
02:17:17
Speaker
as like, uh, or they say like, Oh, I just do Adderall now because that's better. Yeah. That makes sense to me. It's insane though, because like I've, you know, like I've, I've told this story a bunch, but like I, the reason that I am familiar with meth is because in college I did it with a bunch of the like computer science and physics people. And we would just take like 10 milligrams or some shit and use it as like a study aid.
02:17:42
Speaker
Uh, there were other things like, obviously like I wound up going fucking full off deep end, uh, recreational use, although not like, you know, like I didn't go on like long benders really, but I definitely had my recreational binges for like the two years that I use it until I just got bored. But, uh, like using it as a study aid, it was better than Adderall.
02:18:06
Speaker
It was better than Dexedrine, you know, at that time, even buying like weird, fucking sketchy shit off of the dark net. And the people were telling me now, like, there's just no point. Just go get Dexedrine and use that instead. Because, you know, despite it being worse and lasting less long and having more like physical side effects, it's still way fucking better than the meth they try and do it with. Yeah.
02:18:34
Speaker
I guess speed is considered meth? Speed is usually straight up amphetamine sulfate paste. Very different thing. Because people smoke meth. People smoke meth. They smoke it. They do, yeah. It's the worst way to do meth also. At least healthy.
02:18:58
Speaker
Uh, I'm just going to say flat out the worst. The best way to consume any amphetamine is just eating it. Uh, it's very smooth, normal. You don't get whacked with any sort of like, I mean, obviously there's like a come down, uh, if you do like enough of it, but like the come down is much better than any other version. Uh, smoking meth specifically is just like the shittiest thing ever. Uh,
02:19:25
Speaker
It's a very short, high, very, very tweaky, very sketchy. It was one of those things that like, uh, I did it like twice in college and stopped. And I'm like one of the most experimental people in the universe. And if I decide something sucks ass that quickly, it's usually like, it's really gotta fucking suck. Uh, it's something that like.
02:19:52
Speaker
I don't know. It's a very tweaker thing to do, right? Like I'm not.
02:19:57
Speaker
I don't know. I mean, the thing is that overall you just shouldn't use meth. So by the time I'm like giving advice to like people who are using meth anyway, it's already kind of pointless, you know, cause you're already willing to engage in a series of things that are like, but it's like the situation in which I could understand meth usage. What's if you had like 100% pure pharmaceutical meth and you ate like 10 milligrams on some days when you needed to do like very slavish technical tasks.
02:20:26
Speaker
right? Like that's when they're good. Does anyone use it like that? Does anyone have 100% pure pharmaceutical meth? No, so it's like it's totally a moot point.
02:20:42
Speaker
Yeah. I mean, I just know musicians that smoke meth in LA or whatever. That's just what I think about it. That's all I think about it. Um, that's all I know about it really, or like British, British Columbia or like the Northwest or something, or like, if you ever go to Vancouver, you'll see someone like licking like a phone telephone pole and they're usually like a meth head or something like that. Um, I'm from the East coast though. I mean, and well now there's so many weird, like, uh, research chemicals that they're selling as meth that it's like even weirder.
02:21:11
Speaker
What about vivance? Vivance is a drug that I've taken that seems to have a very sort of, it's, it's, it's, it's, it doesn't have the crazy come down compared to no. So vivance is vivance is a pro drug for Dexter amphetamine. Dexter amphetamine is my favorite, uh, of like the amphetamines, right? Like if I had to go out and get a prescription for a drug that I would use, uh, when I needed like the amphetamine boost, frankly, I don't really need it that much because.
02:21:40
Speaker
I do mostly creative stuff and it's very rare that this shit makes you better at that. It makes you better at talking a lot and writing a lot. It does not improve the quality of your talking and writing. And often it makes it like retarded and overly verbose in a way that's harder to consume and less emotionally engaging actually. But.
02:22:00
Speaker
I find that like Vyvanse or Adderall things like this, there's the downside to me is that you can get stressed out, you can get overwhelmed very easily, and you can get angry very easily from this stuff. It does something fucked up to your brain.
02:22:18
Speaker
It definitely changes your overall psychological profile. The things that you gain advantageously are your ability to sit down and focus on one thing forever. And it makes that thing exciting, even if it's otherwise a very boring action. As you're hopped up.
02:22:38
Speaker
Yeah, but like the downsides are that it kind of rapes your creativity rapes your appetite Typically will lower your testosterone levels acutely and they have a bunch of they make you more irritable and You lose like the emotional side of things, right? Like the reason that you become more irritable is because you're becoming You're becoming more of a like a technical slave right and less of a person
02:23:07
Speaker
You could say, like companies I've worked with when they have engineers who get stumped by a problem for a long time, they'll ask them if they want to stop taking their, their, uh, study meds for a while. Because it does usually allow people to be a little bit more creative and think outside the box some more, uh, that I, I don't know if that still happens honestly, because it's probably now a violation of some like gay, uh,
02:23:33
Speaker
Like you're going to offend them by talking about their meds in public or whatever type rule that they have. Didn't used to be the case. But anyway, where I was going with the dextra amphetamine thing is I think it's the best of the study amphetamines. Taking like five milligrams twice a day, if you need a focus is probably like how I would use amphetamines. Adderall is dextra amphetamine combined with amphetamine sulfate.
02:24:01
Speaker
in like, I want to say like a 75, 25 ratio. So the amphetamine sulfate has like, I think that's true also. I haven't like all of this is going based off of like a decades old, like amphetamine reading, right? So we're talking about like shit that I read about when I was like tweaking a fucking decade ago, but, uh,
02:24:24
Speaker
It has more of the like physical side effects and hops you up more, which some people I guess like more to feel like they have to like feel like they're on something. It's weird. Like if you give people a test and you say like, Oh, is this dose high enough for your amphetamines? They will respond not necessarily in regards to their increase in focus, but they, their increase in like shakiness and jitters.
02:24:49
Speaker
So the active dose that people need of amphetamines is much lower than what doctors usually prescribe. Like the point at which you start seeing observable big increases in people's focus happens at like five milligrams. Uh, people prescribe a lot more than this because 30. Yeah. Yeah. Cause they don't feel like they're on it until they take more. Uh, and also just because it up until a certain point, it feels better to take more. Um,
02:25:16
Speaker
They're starting to realize this now and roll the dosages back, which is good because I think people are like castrating their brains with this shit.
02:25:25
Speaker
Yeah, vivance is a pro-drug that gets converted into dextra amphetamine through the first pass metabolism in your liver. And the way that it mediates your, its effects, I guess, amphetamines are weird in that it's not the level of them in your blood, it's the increase or decrease in the level of them in your blood that mediates the effects you feel. So in order to feel like you're at the same level of high,
02:25:53
Speaker
Or, uh, you know, you wouldn't want to say hi if you were a doctor or you're prescribing this. So, uh, that same level of focused air quotes, um, you need to be constantly increasing the level of amphetamines in your blood, which happens with vibe ants because of the way that it gets metabolized. So it is typically a much smoother come up and come down. Now the downside is that if you wake up and you need to do something really quick for like five hours, uh, and then be done with it and then go back to bed.
02:26:23
Speaker
Vivance is useless because you'll be awake forever.
02:26:29
Speaker
Yeah, I think that from my experience, going off of it, you're not supposed to take it obviously every day because the effects wear off and it just becomes less powerful or whatever because your body gets used to it. It rapes your brain and it turns you into a slug. It rapes your brain. But when you take three months off of it, your body readjusts to get back to its normal level and then you can function again in a normal way. But as soon as obviously you take it again, you're fucked again.
02:26:56
Speaker
to go back to that experience, but it takes a really long time for you to get back to this like non sluggish level. You know what I mean? Especially like
02:27:05
Speaker
I've used it to go to the gym. You know what I mean? It's like you take it, get work done, and then you go work out. And you feel fucking high as fuck and amazing because you powered through your whole fucking gym experience. But then it's like when you don't take it, at least in my experience, it's like, oh, I don't want to go. You don't have the motivation. It's fucked. It fucks your whole shit up. It's just better to be natural and not be off. Yeah, I mean, that is the thing with any of this shit, right? There's no free lunches.
02:27:33
Speaker
You know, like you're, you're gaining, you're basically, uh, stealing tomorrow's dopamine, feeling it today and then paying interest on it. Yeah. So like you can do that if you want, but like your heart probably long-term as well. It does. It raises your blood pressure quite a lot. And you know, what's funny is they, they, the doctors tell you that it doesn't because.
02:27:56
Speaker
I've asked because because nobody's done. Nobody's done fucking 30 year longitudinal tests on the levels of this shit that they're doing. And honestly, our doctor's standards for what constitutes fucking with your heart are very low, given that like the average American is so fucked anyway, that it's like.
02:28:17
Speaker
No, I live abroad and I tried to donate my blood here and they were like, they wouldn't take my blood because it had amphetamines in it. They were like, what's wrong with you? Why do you have this in your blood? But in America, they wouldn't give a shit. They would take that blood, put it in the blood bank. That blood is filled with tons of amphetamines and shit like that. You know what I mean? But in Europe, they were like, no, we don't want this. We don't want this because it's not even legal here. I don't even think Vyvanse is legal. It's only legal in Switzerland or something.
02:28:46
Speaker
Yeah, I mean Europe doesn't really have meth either like they do obviously like but it's not nearly as prevalent All of the precursors are outlawed and like people don't really have like as much of a desire for it
02:28:59
Speaker
What they don't have. Again, there's a reason for that too. There's, there's like a difference in American versus European ambition that makes meth a sort of appealing drug, right? Like everybody has a stereotype of the meth addict who's just like the crazy crack head, like homeless person. Uh, there are, or at least were a lot of fairly highly performing meth users.
02:29:26
Speaker
especially within like the coding realm, uh, highly technical realm and in physics, right? Like a lot of the big boys were using amphetamines. Uh, and now they're doing Adderall, I guess we could also like Hitler, you know, yeah, but he's European, you know,
02:29:53
Speaker
He is European. He was European, but, uh, so like, if you're, if you're trying to grind something out and you want to like be focused and really slavishly keep at something for a long time, meth makes a lot more sense. Amphetamines in general make a lot more sense. Europe doesn't really like do that, you know, like there's no like hustle grind set culture in Europe. So the idea of like sacrificing your health and happiness and sanity and like brain.
02:30:22
Speaker
so that you can focus harder and work harder is just like retarded to them. Yeah, it is. I don't know. Yeah, it's. It's hard to quantify that, but like, I really feel like the fact that there's state money that is provided to arts and things like that, like. Dumbs down the population to not make anything that great, really.
02:30:49
Speaker
Because they'll always get that funding they'll always get that money there is no grind set there is no hustle grind set mentality there's like a net there's like a safety net for most of the countries over here for majority of northern europe that has there's there's no competitive capitalistic. Thing really like.
02:31:08
Speaker
There's no company in France that is bigger than the government because the government wouldn't let that happen. In America, there's many companies that are bigger than the government and more powerful than the government. That's the way it is. It's like the tech mecca of the world. The biggest company in Europe is Nestle or something. It's like a chocolate company, I'm pretty sure.
02:31:37
Speaker
I don't even know what it is. Maybe it's some sort of healthcare thing or something like that. There's no point in working in tech in Europe really at all. There's nothing for you. Even in America, there's obviously a point now and it's still a very profitable industry.
02:31:59
Speaker
It is getting arbed. Everything gets arbed in the long run. The margins are getting slimmer for everything. I feel like it was everything. If you're not willing to go venture out into some sort of bizarre field, this is why a lot of us are in crypto is because there's a lot of opportunity here because it's not consensus. If I go and I Google, I'm about to go into college. Where should I get a job?
02:32:25
Speaker
Everyone's gonna tell me that I should go and go into like AI or machine learning or something, right? What does that mean?
02:32:35
Speaker
That means everyone else who looks that up is going to do that. Right. So this is like, uh, engineering overall was like this. Uh, and this is what everyone, you know, like everyone is telling me like, Oh, go into engineering. It's going to be like the, and it's like, it is, it's good. Uh, the money's fine or whatever, but like, it wasn't like this thing where you're going to be printing like seven 50 K a year over year. Just for like being there. Right.
02:33:01
Speaker
It's not like and you're competing with a lot of other people and the thing that they don't tell you about technical ventures is like, yeah, you can be very good. And you can get paid well. However, if you're in a field with a bunch of other people who suck ass at advocating for themselves.
02:33:17
Speaker
Your wages are overall going to be depressed over time because like the sales and marketing people are both better at advocating for price increases for themselves and have more contact with the CEOs, right? Like engineers overall get shafted because while they do provide obviously a lot of benefit to these things, they like
02:33:40
Speaker
They can't schmooze, you know? They can't schmooze. So, I mean, I just think of it as like having a salaried position. Why would you work hard at that if you always get the same amount of money, essentially? Well, engineers will because they're a unique, weird breed of person who
02:34:01
Speaker
They're not necessarily striving for that dopamine hit. They're very risk averse and they just want to be comfy and safe. Which is another thing that if you're joining a group in the workforce that has this overall mentality, they're also not going to make that much fucking money. It's why crypto gets so insane later on in the cycle because programmers overall
02:34:25
Speaker
Computer engineers, software engineers, they're so, so fucking risk averse that if you say, okay, you're getting paid 230K at this job right now, it's a good salary, and you have options, and you're getting good benefits,
02:34:44
Speaker
someone is offering you 600K a year in crypto, are you going to go take that? And they say no, right? Because they're like, well, what if it's gone in six months? What if it's gone in three months? And then you're like, well,
02:34:58
Speaker
I don't know, what if you can make more in that time? So then the people start offering like 750K plus like a huge amount of equity, right? Like you get like 500K in equity and if the project does remotely well, that'll be like 20 million or something. And then you finally start getting people come over, but it's still not a lot.
02:35:19
Speaker
Because they're just, they're calking it out and they're saying like, well, like if I keep working at this place for this long, like I would have given up this opportunity. They might not let me come back. And it's just, that's the mentality of a group that gets exploited by employers, basically.
City Living and Real Estate Trends
02:35:36
Speaker
What do you think about real estate as a store of value?
02:35:40
Speaker
I'm not the guy to ask about this but I will say that every turbo fucking rich person over the last two years has been dumping their investments and buying real estate so it doesn't seem like a bad idea or at least it didn't seem like a bad idea it might be a crowded trade at this point I bought my house
02:36:01
Speaker
Well, years ago actually, I basically bought the bottom of the curve on interest. I have like a 1.875% rate on my mortgage. So I did well. And I've been looking at other properties recently here, although I'm not sure it's like
02:36:19
Speaker
You know, it does get weird because you're like, am I really going to lock this shit up right before, like the golden holy bull run of all crypto assets? Exactly. Exactly. Like I, yeah, I own an apartment here and it's like, I rent, I just, I'm finishing renovating it right now and it's, everything here is dirt cheap. It's, it's, it's pennies. It's nothing. Like I didn't get a mortgage. I paid in cash for my place or whatever. Cause it was like nothing, but like.
02:36:41
Speaker
The thing that I find annoying about real estate is like the maintenance and the upkeep. And it's like, if you don't have edge on understanding how much things actually cost, you don't really even know what edge means until you've been in real estate for long enough, right? It's like the same thing with trading where like, everyone talks about having an edge in the market. And you're like, what the fuck does that mean? You know, like if you're new to crypto and you see someone talking about having an edge, you just get confused.
02:37:08
Speaker
Uh, and you have to be a market participant for long enough that you've seen the stupid fucking bullshit that counts as an edge. Right. Yeah. No, it's literally like, it's like when people say, Oh, I use this person as a counter trade, lol. And like everyone says ha ha. And they think it's like a funny joke. And then eventually after like two years in crypto, they realize, wait, like they probably weren't joking. They probably unironically do do that.
02:37:37
Speaker
Yeah. No, I mean. In America, at least like fucking repairs, like to get your house painted costs like a shitload of money, like in a lot of places in the East Coast, like upstate New York and shit. Yeah. And contractors fuck you over really bad, right? Like this is contractors are sort of like lawyers where you have to know somebody, not necessarily because like, oh, I have to know someone. They'll hook me up with like the best quality. But it's like your quality.
02:38:04
Speaker
It's probably going to be a similar and comparable band no matter what but yeah, you will get fucked on the rates and on the on the like Implementation red the spreads huge yes The spreads huge the quality is the same if you're not knowing what you're doing the quality for dollar I will say is similar but yeah, like lawyers like if you don't have a hookup they will
02:38:29
Speaker
They will charge you their max hourly rate to go over things that will never be needed, right? They will call their legal team together. They will call you up. They will burn through your fucking retainer. A good lawyer is actually not going to be like super on your ass, right? They'll be hitting you up when they need to hit you up about things that actually do matter. And that list is much smaller than many people assume. Not for sure.
02:38:57
Speaker
For sure. Yeah. Yeah. Interesting. It's interesting to maybe though, because it's like, I feel like the housing trade in America has gotten, it's gotten to a point where it's like. It's really weird. Yeah. It does feel the prop. It's not just overcrowded. It's just like the.
02:39:12
Speaker
the prices are so high everywhere. And it's, it's also like the rental prices are high everywhere. And like, I'm not sure if it's like, like, you know, conspiracy. We've been saying, can this be sustainable for the last decade and a half? Yeah, exactly. And it just keeps going up. Like, that was why I just fomoed in because I was like, I was sidelined for like a year and a half working and thinking like,
02:39:34
Speaker
I'm waiting for a dip, right? And it just never dipped. And I was like, okay, well, if I had not waited, I would have made like 40%. So I'm just going to fucking eat it in now and see what happens. And then it wound up being great. And I'm all fucked on now.
02:39:49
Speaker
Yeah. And I think the most important part of that is like understanding the areas, the property tax, things like that. Like, is that going to go up? Is that going to be crazy? Oh, I mean, I fucked up, dude. Like I fucked up real bad. I probably overpaid 70K for my house, maybe 80K at the time. If I were to go back and look at it.
02:40:08
Speaker
Um, there's so many things that I would have taken off for so many things that I know to care about now that I didn't before just in terms of the construction, right? Like the electricals, uh, plumbing, like utilities. I know so much. You just have to learn about how like HVAC works. If you own a house at a basic level, you have to learn about this shit. Uh,
02:40:29
Speaker
There's so much stuff I could have used to nickel and dime the people and get a better price. Now, again, the market was really hot, so they probably wouldn't have been willing to come down a ton, but there were obviously things that I could point to. I even fucking that up. I'm fine because it went up so much.
02:40:50
Speaker
I think, I think that's just kind of how it goes. I don't think anyone buys their new house with all the knowledge of like a three year or a three decade realtor. So I think it's like, if you want a place to live, you kind of just have to go for it at some point. And I realized that I get like houses.
02:41:08
Speaker
they suck. There are a lot of work. Fortunately, you can just pay people to do most of the work and a lot of it also you can just figure out on your own. But they're a big pain to have to have to deal with you have all these other inconveniences. But it is nice to just know that there's this thing that like,
02:41:26
Speaker
can't be taken from me. A landlord can't decide to triple my rates and I can't get fucked. I own this. It's a real thing here. There is a community and my house specifically I like because I do a bunch of stuff. I have to travel around a lot now, go to big cities, go to conferences, go out of the country all the time.
02:41:47
Speaker
It's really nice to be able to come back from that shit and just be in a nice calm nice old like family town with not a lot of stuff going on. Everything is closed at 9 p.m.
02:42:04
Speaker
Uh, there's like no crime ever that's been committed like in the last like 500 years. I know everyone on my street. They know me. I don't lock my doors. I don't close my house. My keys are sitting in all of my vehicles right now. No one has stolen anything from me. Uh, it's just really nice. It's really nice to be able to come back and just chill out and unwind in the middle of this shit with everything else that is going on.
02:42:33
Speaker
No, for sure. That's, I understand that totally. That makes total sense. I mean, that's anti-city basically. Like cities are a pain in the ass to live in. Like, yeah, like I love the ambition that you get exposed to. And I love the people that you get exposed to in cities. I hate fucking living in cities. Like I hate the inconvenience and the expense of living in them and how, how much effort and time and money just every basic little thing takes. And I also hate the things that people do for fun in cities for the most part.
02:43:04
Speaker
No, yeah for sure. I mean I think that The thing that I was trying to get to in America at least or is like not in the world But it's like these articles that are coming out that say that are saying it's cheaper to rent than to own Like what do you think about that? It really depends on See the thing that the thing that people never factor into this that actually matters more than any exact like spreadsheet financial breakdown is
02:43:32
Speaker
The benefit to making a decision does not come primarily from the direct consequences of that decision, but what it does to your brain and like how your how your mindset changes as a consequence of you taking an action, right? Like.
02:43:50
Speaker
The reason that having a house is nice is not necessarily because it's cheaper. When you factor in all of the extra shit that I have to pay, it's very clearly more expensive than I could live right now renting.
02:44:07
Speaker
However, I now know that I have, like, I have, I have a rock bottom that I can fall to financially. Like I can blow all of my other shit up and I still have some almost seven figure nest egg that I can like sell and rebuild from. Right. So it like, it's increased my risk tolerance in that I now have an asset that I'm both confident will appreciate and can liquidate if I blow my asshole out. Right. So if you go all in, in whatever you're doing,
02:44:39
Speaker
For some people that's really good and that gets you engaged. And I think for a time perspective, like, like I couldn't also have another job. Like I couldn't be working a W two job and do the other stuff that I do with crypto consulting, et cetera, and expect to care enough about those other things that I would perform well in them. But like, I don't like being all in money wise. It scares me a lot. I don't know. So if you're the type of person that you have to all in crypto,
02:45:06
Speaker
All of my like, not all, most all of my liquid capital is in crypto. Yeah, which is a very unsettling feeling in some strange way. It leaves you thinking.
02:45:21
Speaker
Yeah, yeah, you know, like I and like that's
Crypto Risks and Technological Threats
02:45:25
Speaker
the thing is crypto. I love it. I don't think this is going to happen. But like some some dude with like a hyper quantum computer could literally just like crack Bitcoin tomorrow and everything could go to zero. That's always possible. There's it's always totally possible that just everything dies. And did you see what happened to that normie coin today? We're like, yeah, the funniest fucking exploit in the universe.
02:45:49
Speaker
Are you aware of how it happened? No. What happened with that? God damn, it's so fucking funny. So the devs had something in the code that allowed, uh, dev wallets, which were, they were called out not by wallet address.
02:46:05
Speaker
Right. Not by the address. They were they were designated as dev wallets because they were holding the same number of tokens as the dev wallet. That was the condition to be considered a dev wallet. So anyone else who purchased that many tokens was now recognized by this contract as a dev wallet.
02:46:29
Speaker
Isn't that insane? That's like, that's like some guy, that's like my level of coding applied to like writing a solidity contract. Like that's like a mistake that I could have done if, if you had the same level of coding as understanding as I did, but also like you, you were really, uh, you were much dumber, right? Like.
02:46:51
Speaker
Like I just spam for loops all the time. If I need to write a script, you know, like I don't get really complicated or elegant with my code. I'm not a coder. I don't care about learning any additional term or function really, because again, I'm not a coder. I'm trying to hack something together in 20 minutes that will save me time and automate some part of my computer use. Right. Uh,
02:47:15
Speaker
That's like the mentality that you would have to go into to say that a dev wallet is a wallet because it has this many tokens in it.
02:47:25
Speaker
How was that set up? Who the hell did that? That was to help them so that they could do pre-market buys so that those wallets could exploit some other shit because they trusted that the devs were all not going to abuse something, right? But if some other wallet who's not a dev did something, it's going to get abused.
02:47:48
Speaker
I'm so glad I didn't have any money in, in, in normie or on. Yeah, it was like 150 million market cap coin or something. Right. That's insane.
02:47:57
Speaker
that's the thing this is exactly the type of shit that I'm talking about man and like that's like a really retarded error to have in there you know and like it's just a shit coin so like there's not that much complexity going on with it if you're dealing with these protocols like you know everyone loves these liquid restaking protocols because they can just lock their ether up and like 87 different things and like
02:48:19
Speaker
They can add all the 1.7% APR rates on top of each other and get like 35% total interest on their Ethereum after they interacted with every single restaking protocol and industry. And, uh, that to me is like the most retarded possible thing that anyone could ever do because of this, because the main risk in crypto is fucking smart contract risk. Yeah. Or getting trained or whatever.
02:48:48
Speaker
Yeah like it's so easy to get drained like I can't believe it's like I'm I try to be pretty careful about that but like it's definitely gonna happen to me at some point it doesn't you like you can't keep all of your shit on one wallet even though it makes it so inconvenient and it ruins your life you just can't do it yeah you're right you can't
02:49:12
Speaker
I mean, you can, but you're going to learn the lesson eventually, probably. You know, like getting drained isn't some obscure thing that only happens to like giga retards. It's a very common occurrence. It is a hugely common occurrence. And it happened to me when I first got into crypto like three times. You know, I just didn't have any money. Yeah, I mean, like somebody makes like a whitelist at a whitelist contract and says like, oh, like sign up here to get this thing. Everyone just does it. And now a lot of them get fucked.
02:49:41
Speaker
Well, I think that real estate, just to bring it back, is probably one of the safest investments that you can make in terms of this thing. Nobody's going to steal your house while you're living in it. But I'm trying to think of crypto has fucked up my mind over what is a good investment. Right, right. Because now if someone says, oh, dude, you can get 50% over these last 10 years on real estate, I'm like, I don't give a shit. That's nothing.
02:50:08
Speaker
Yeah. Right. Like I mean like renting out your place like if you own a bunch of apartments and you read that's exactly you do like it's I'm looking at the rates that I could make because I have I have many more bedrooms than I need and I've often thought about renting it out and then I think about like am I going to give up all of my privacy for fucking like two thousand dollars a month. Like that's like what Twitter pays me for tweeting. You know like I don't give a shit.
02:50:32
Speaker
Yeah, to be honest, like I rented out my place where I'm moving into the place that I bought and I'm like, I rented out my place to my friend and it's been a nightmare because I thought I would move into my renovated place sooner, but the renovation took longer, which is now you're living with someone. No. And then I've been living with someone and I'm like, this feels horrible. Like I cannot deal with this at all. Like even just knowing that that person is in the other room, that they might come out. That's frightening. Yeah. I'm not there's like a psychic, like morphic field that everybody has where like,
02:51:04
Speaker
It, it like interferes with the shit that's going on. If you're alone in your house, like for me, it's like, I don't know if this is like a grumpy, weird man thing to say. It's not, it's just the best, it's the best feeling in the world. Just knowing that you have privacy is basically the best feeling in the world. And this is, this is, I think the big problem with like, uh, moving in with your girlfriend is the thing that I've learned repeatedly is
02:51:25
Speaker
uh just having her be around all the time is like a weird mental burden that you can't there's no way to quantify it but it does make everything worse for me right especially because i'm trying to do a lot of creative stuff all the time and uh that addition of a potential audience member oh it's horrible right that yeah like i can't even explain it really but it's it's very negative for me
02:51:52
Speaker
I think yeah no in terms of in terms of girls there's there's there's certain women that I feel like like that like inspire your creativity in some weird way not living with them that's a whole different thing, but then there's some that like
02:52:07
Speaker
are insecure that make you feel insecure like their energy is passed on to you and then you feel this really weird feeling that you don't normally feel just because you have a girlfriend a certain type of girlfriend yeah women are like very much energetic amplifiers it's both like it can be either way exactly so it's like well like whatever is going on around uh
02:52:28
Speaker
Like they'll, they'll like magnify and pump it back to you in a situation that it might not be great, right? Yeah, for sure. You're like, why do I feel this way? I don't understand where this came from. People who start their people who do family businesses run into this shit all the fucking time to where it sounds great. You're all working together, trying hard. You're going to win together one day. But like what happens when shit's fucked?
02:52:56
Speaker
What happens when you have a bad day? Now you're in a situation where everyone is like equally wanting to kill themselves.
02:53:06
Speaker
And you can't get away from the subject. If you have a bad day, maybe you want to come home and say, hey, babe, what's up? What have you been up to today? What are you thinking about? What are you working on? What are you doing? And if it's like, oh, we're going broke because revenue has been zero for the last four days because this dumb advertising campaign you did, then now everything is awful.
02:53:31
Speaker
forever. I would hate to do business with, I mean, I'm like really particular about that in general, because I feel like, first of all, most businesses fail. Second of all, most people try to rip you off. Like people change, you grow apart from them, being in a man or a woman, whatever, but being in a relationship where you're working on something is very difficult. I've done it. And then it's like, also like just having a business with that person where you're financially tied together and like,
02:54:00
Speaker
Yeah. You're like five one day can change the like crash the whole thing. The thing is that like it can definitely work, but you have to be hyper selective about the person you're doing it with and people aren't fundamentally. That's the issue, right? Like you can also totally have like, I am working now and I've hired two of my friends. Uh,
02:54:26
Speaker
it hasn't been a problem because I, I said no to a fuck ton of other friends because I knew that they wouldn't be a good fit for the company and for what we wanted to do. And I like it's, it's one of those things where you get to see like the benefit of like a short versus a long, uh, time preference coming into play or like a time horizon, you know, cause like,
02:54:54
Speaker
In the short run, everyone who I didn't hire got mad at me. You know, that's the, that's the short term trade-off. However, if I had done that and they, they do go to the company, they're working with me and eventually they get fired.
02:55:15
Speaker
Now it reflects badly on me and our reputation is damaged and it gets worse even because that person will likely come and ask me to like advocate for them when I don't in the first place think that they should be working that job. Right.
02:55:31
Speaker
They always do that too. If you get someone hired as like a favor and then they get fired because of things that you were already worried about, then they come back and they say, come on, man, like you're not going to help me out here. And so now it's like this endless thing where you just have to keep.
02:55:50
Speaker
Like lying basically, you know, because like business and friendship have to be distinct. Most of the people that I'm friends with, I think are very competent, but that doesn't mean that they're going to be a good fit in a specific role. And, uh, when you lie and you're dishonest about this to try and get them employed, you are putting your reputation on the line to help someone temporarily when you know, they're going to be fucked in the long-term anyway.
02:56:20
Speaker
Yeah, I mean. It's weird that it is. It is weird. It sucks. You know what people say? It's like, all right, I love Zuckerberg. I don't know if you've been seeing Zuckerberg's arc recently, but it's amazing. Like I fuck with Mark Zuckerberg pretty hard these days. Like he's finally figured out how to be a little more likable. Yeah. Like he must have some people doing something. Oh, no, he did a public campaign where he talked about how he wanted to be more likable and relatable. It's not an accident.
02:56:47
Speaker
No, of course. That makes sense to me, because it's fucking awesome. He turned 40 and recreated his childhood bedroom and shit, and Bill Gates was there. I thought that that was really cool. But you see Steve Jobs or all these fucking tech people, this short-form content of them, and they're saying, you have to build this insane team, like the fucking X-Men or something like that. And that's better than one person.
02:57:16
Speaker
I understand that that's true because it's like, yeah, of course, like a group of people can create something better. If you find the niche thing that those people are meant to do, that those individual people, you know, like what is this person really good at? Let's put them to work. Cause they're obviously not good at this thing. You know, it changes too. Like if you have a big company, you can just give people nepotism jobs and it doesn't matter. If you have a startup that has like 10 or less employees, you can't really be doing this, you know, like.
02:57:46
Speaker
Yeah. And that's where people get hung up is like, they don't understand that there's a difference. If I am working at a small company.
02:57:55
Speaker
I can hand out jobs a lot less readily and I'm gonna be a lot more selective than I can at a big company and That's what I don't understand about like like I have a friend that works for a tech company Let's just say it's called Squarespace or whatever and it's like this like I feel like that this person is is basically put into a hamster wheel and Nothing that they do really matters that much Yeah, like and I think that so many like there's hundreds and hundreds of people that work at this company So it's like for me. I'm like
02:58:24
Speaker
I don't get this because some people don't derive pleasure or meaning from the work that they do, so it just doesn't matter. But then it's like, why do they get paid a salary? Do you know what I mean? Why is the company paying them if what they're doing is basically avoiding work and getting away with it? What basically happens is that the level of work that you need to provide a company with and have them still profit from it is very
Corporate vs. Startup Work Culture
02:58:51
Speaker
small.
02:58:52
Speaker
Right. Yeah. Yeah. Yeah. So like the thing that they have to do is nothing. It's basically like a very small thing. And if they fit that thing, if they fit that criteria or they fulfill that job, that small task, then that the rest of the stuff is just sort of like giving them random things to do that are meaningless just so they feel like they have a job. It's not giving them random things to do that are meaningless, usually as much as
02:59:21
Speaker
So when structures and organizations scale, the bulk majority of people's time investment per day changes and it becomes much more organizationally oriented as it scales. Whereas in a startup,
02:59:40
Speaker
You are very, very generative, but you're also dealing with a wide variety of problems. Uh, and you're trying to overcome things and you have communication barriers because maybe your entire company is operated out of 12 separate telegram group jets, right?
03:00:01
Speaker
So you have hurdles like this, and then as things scale, you wind up stripping off that like extraneous, like communication breakdown problem and replacing it with like a daily allocation of organizational tasks that you need to do.
03:00:16
Speaker
And everything takes longer because it has to be input into a sortable, searchable system. There's a procedure for everything, how every file has to be created, stored, et cetera. And all of this is necessary because the goal when you are a large corporation is that you're autonomous, right? You're trying to make it so that if any one person here disappeared, the entire machine could continue on without them. Whereas at a startup,
03:00:46
Speaker
If any one of the key players disappeared, the whole thing would break instantly and that everyone just understands that that is the downside risk of a startup. Right. But like that inherently means low stability. So.
03:01:00
Speaker
It's a certain type of person who likes to work at a startup. Now I like working at startups because I have a very high risk tolerance right now. And I also like the feeling of knowing that like I actually can do things that are impactful, you know, like I can, when I'm doing consulting and stuff, I commonly will deal with large corporations because as a consultant, I don't actually have to deal with their fucking internal regulations.
03:01:24
Speaker
I can talk to them, I can have some meetings or whatever, but I don't have to be the one that's sitting there doing the paperwork all day figuring the stuff out. I have to just look at the metrics they're giving me, get a feel for the vibe of whatever it is, look at the things that they want me to optimize and go from there, right? So I have no fucking problem dealing with large companies. I just do not want to work at them. You would rather work in a small group.
03:01:52
Speaker
Absolutely. Yeah, absolutely. And then like a little mouse in like this grand factory wheel. Yeah, there's something that's way better about.
03:02:03
Speaker
getting together with like five people who you think are all like geniuses in some capacity and brainstorming and like directing an amount of like IQ based firepower at a problem that would like fucking melt the earth right like just such an insane like this is this is like some of the funnest memories that I have with Ramilia is when
03:02:26
Speaker
A bunch of the guys in there we would all get into like a brainstorming session it would be like four of us or something and we would think about some problem for like four hours just focus completely on this one thing and then just like come up with a solution that when you leave your like there is literally like.
03:02:44
Speaker
Like we have created new information, right? We have, we have discovered novel information about the world from this. No other person knows what we have just like unearthed right now. It's the same thing with ox where like you get into a call with fucking like Kyle, Bruce, Sue, me, and you're like, Holy shit. Like we have, we have like an ideological generative engine here that.
03:03:12
Speaker
is just like, I don't know what the comparison is. Like, I don't know who else brings that to bear. And that's awesome.
03:03:26
Speaker
That's, that sounds great. I mean, it's, it seems like that too. Um, right. And that's why when like, like people give me offers that are really fucking great, uh, to try and like, they're like, Oh dude, like, why do you want to like keep working with like Kyle and Sue? And it's like, it's because they have, they already did it and then blew up. Right. And so they like, they know a lot. They have a lot of experience. Uh, but they don't have that, like, they don't have that retarded.
03:03:56
Speaker
like reverse chip on their shoulder, right? Where they think they're invincible and they're afraid to lose it all. This is the thing. A lot of these really big upcoming protocols are afraid. They're afraid to try shit that might be bad in some way. They're afraid to try shit that will get them called retarded.
03:04:18
Speaker
I don't want to work with people like that because it means you can't do anything, you know? Like they all say, oh yeah, we'll let you have full creative freedom. You can be creative director. They don't, man. They don't. Like I've done it before. They let you do and then someone replies something negative and they're like, oh God, what if it's not working? And you have to just trust that like,
03:04:38
Speaker
You have to trust that the person that you hired to do the thing is going to be fine and they'll figure it out. And if the audience doesn't like it now, that doesn't actually matter because the audience is retarded. And, you know, like this is something with engagement too, where you can get a ton of negative replies from something that winds up both generating revenue and getting you engagement.
03:05:00
Speaker
You know, so you have to, you have to separate a lot of these metrics and know what to actually look for, you know, like on the podcast, there's a lot of, uh, there's a lot of comments like, Oh fuck, like I just want to hear Sue talking. Why don't you just have, why don't you just have a Suzu monologue podcast? Right. And it's retarded because one Suzu doesn't just monologue. If you can't tell that about him by like five minutes of watching him.
03:05:25
Speaker
You're just retarded, but he's not like a spontaneous monologue person. He needs a prompt. And two is that like that there's there's only so much that one person can say, you know.
03:05:41
Speaker
It's a dynamic thing. There's a vibe that needs to be created. All the people who are only there for Suzu's market insights will get the market insights in five minutes and leave if that's all that there is. But if you dilute with a bunch of other stuff, some portion of those people who come for Suzu's market insights realize, oh, I like this personality. I like this personality. I like this one. And now they're sticking around for that. And they're branching out. And they're watching other videos that that person
03:06:11
Speaker
creates which also promote the other thing so it's like It's just an understanding of I guess the time horizon again, right? Like if you want instant results that everyone likes It involves giving the audience something that they don't stick around for really
03:06:33
Speaker
Yeah, it's the same as like long form content in essentially what you're saying is like, that's just why I think it's good because it's like it gives like this is tying this back to like, your your Twitter personality or like the way you choose to talk about your trades or like what you did in 2017. It's like you have this
03:06:52
Speaker
you have this relatable persona that's obviously just honest and truthful that you're not afraid to like show your mistakes that you made. And that's why like long form content is good because it's like, this person is like, oh, this person is just like anybody else. Like they're obviously like, there's no way to be 100% correct, you know? Yes. Whereas like,
03:07:12
Speaker
Yeah, it's the same thing in in that's what the other reason why like added to there's there's also like this person that always responds anytime you make a long post regardless of how well it does or how funny it is there's always a type of person that says TLDR and then they give the like two or three bullet points of whatever you said right and it's like
03:07:34
Speaker
That's not it, really. The bullet points can, they're almost always wrong, too, is the other thing. The bullet points are almost always not what your bullet points would be if you wanted to tell them what the messages are. And it's usually based on a misinterpretation of something that I wrote because this type of person fundamentally is retarded in a very, very handicapped way. But aside from that,
03:07:56
Speaker
It's like taking out all of the context, which is designed to like package the information in such a way that it's absorbed by people's brains, right? It's, it's a fundamental lack of understanding of how people think, you know, like there's a reason that when you do a podcast or whatever, you want to have a bunch of people, uh, all together, all.
03:08:25
Speaker
all in a group, enjoying each other, different personalities, not just the same type of person. Like there's a reason that you have me co-hosting the Kyle Davies Sousa podcasts.
03:08:40
Speaker
It's because without you, it's just them. And they feel like they need more of a dialogue with somebody that's different than them. That has a different perspective. Well, first of all, there's a few things. The first thing is that I am a natural theater kid. I have an understanding. Whenever I'm talking, I'm constantly holding out what various groups of demographics are thinking about what we're talking about or how they'll react or something like that. And trying to shift the conversation towards things that will
03:09:08
Speaker
you know, ignite their loins in some way, either through rage or happiness or interest or something like that. Uh, and that it's like a thing that Sue and Kyle aren't naturally like stage presences. Really. They have a lot of very interesting insight. Uh, but the way that it would get brought out when they talk on their own, I mean, you can watch, they do spaces on their own. It's just a very different vibe. Uh, there's much less joking around. It's, it's not something that people want to, uh,
03:09:40
Speaker
just sort of like put on for a car ride and leave. It's something that people listen to specifically to extract information from. Uh, bro, I gotta, I gotta run to the bathroom really quick. Um, do you want it? Do you want, um, stop it here or keep going? Uh, I can finish, I can finish this thing. I guess, uh, this, this specific talking point, I guess, but like, just keep going and then I'll just, I'll just, yeah, yeah, sure. Uh, and
03:10:06
Speaker
Adding me or Bruce into this makes it a more playful or vibes-y thing that also captures different demographics of people, right? Because there are people who listen to the podcast because they want Sue and Kyle's highly credentialed opinions. However, there are also people listening who want a more relatable person, you know? Like this is a little bit of my role in everything is to come in and basically say like, oh, these are like my retarded opinions.
03:10:36
Speaker
And it's interesting to hear you say this because either it totally aligns with my like opinions formed out of retardation or it's like totally totally opposite to my opinions formed out of retardation and These are how I formed my retarded opinions and it's interesting to hear you talk about how you formed your much smarter ones, right and like people like hearing that because
03:11:01
Speaker
People like understanding that the way that they're coming to certain conclusions is it's not like done in isolation. You know, people don't like thinking that they are that they're alone. People don't like thinking that they're a unique genre of retard. People in crypto also don't like.
03:11:23
Speaker
I don't know, I mean. Who's doing the podcast though, like in general in crypto, what it's like, Luke Martin, you have like, what's this fucking, and then there's that girl that started doing it with like Ansem, that's like a video thing. Yeah, the Mika girl I think. Is that been going on for a while or no? I don't know, I think they might've just started that, but the Ox podcast I think is really fucking good in terms of the quality of. Dude, the Screlly one is amazing, and I listened to that whole thing, and when you got to the end of it, and it was just you and him,
03:11:51
Speaker
He like to me, I can't tell you my thoughts. It seemed like he was like tired and you wanted to go like Screlly. But you're like, no, you're like, I had you were like, I need to keep talking to this guy because I love him. And no, no, no, no, no. This is this is some insider alpha. I said going into that one, I said like early on, I think he's on amphetamines. I want to see if I can like outmarathon him. Like I want to see if I can like outlast him in this and have him be the one to hang up.
03:12:21
Speaker
And he was tired, dude, by the end, you could tell he was like, uh, I'm going to go like he was like, by the end of it, you were like, so and, uh, like you kept like asking questions. It was like, you should do another one. You should do a, you should have him on the, the version Lucas podcast. I don't know if we'll call, come on the verse and Lucas podcast, but, uh, yeah, I mean, I, I like, I like Shkreli, uh,
03:12:45
Speaker
A lot. I think he's a very interesting guy. I disagree with him on a lot of big things, but, uh, I do think it's fun to talk to. I see, this is the thing is I don't necessarily like floating my actual opinions out there on stuff because I usually haven't thought about it that much. And so I don't have that much investment behind it. And it's just, it's not worth having an opinion on something and giving people the ability to say you were wrong on this thing. Uh, when you don't, you haven't thought about it enough to care, you know?
03:13:13
Speaker
Yeah, I got that. Yeah, I liked about him in that podcast at least or in general is when he's sort of comparing himself to the normal start of startup and basically saying that like he's doing a bunch of different things. And the reason is that.
03:13:28
Speaker
he knows a lot of these things won't work necessarily and that like the tech will change and things will advance and he'll need to pivot and like he's basically just keeping himself open to like this like highly accelerating pivoting world so that like whatever he's doing you know what I mean he can have some yeah I mean that's what everyone interesting that I think is doing right now like you know when I quit my my w2 job my like the main thing that I did and I went and I started doing a bunch of other stuff on my own um and
03:13:58
Speaker
You sort of wind up with your hand in a lot of, uh, cookie jars, I guess. And that gives you the ability to figure out like weird industry ARBs that you wouldn't otherwise see. Right.
03:14:11
Speaker
Yeah. Like he has the ability to see problems that you might not otherwise see because you're not normally trying to combine these two industries. You know, that's like, that's how I think all of the good, successful companies get formed. That's like, look at Ramelia, what happened there? That was, it was literally just the first time that any serious art person, like anyone who was seriously involved in the art scene, uh, looked at.
03:14:40
Speaker
going into crypto. It's true. No, I mean. Yeah, I don't know what to say about that right right now, but yeah, that's just everything, though. You know what I was going to ask what I was curious about is like working with Zu and Kyle like these guys are in the industry. You know, they've been in the crypto industry for a while. They have a big name. They had, you know,
03:15:08
Speaker
a blowout period or whatever, and like they've had success in failure, you know? Right. And they know at this point, this is the best thing. They know that they will never go down to a low that's like worse than their previous low. So like they're not even really scared of like the worst case scenario. It's very nice.
03:15:26
Speaker
No, I love that. And I think that that is necessary to say it grows like thick skin in the game or whatever. But it's also like, is there like a level of crypto in the crypto industry that like just like won't touch them because of that? You know what I mean? Is there some level where it's like a lot of it, a lot of it, like remember when I was talking about how the big influencers all don't really like each other and not all of them, but many of them have personal beefs that never get exposed on the timeline because they just don't want to do that. Uh,
03:15:56
Speaker
All large media personalities, whether consciously or subconsciously, eventually develop an understanding that this is all a little bit performative. And so there are people who are very outspoken against Sue and Kyle. Very frequently though, the reason that they do so is not because they just have a personal conviction against them. It's because of that performative element and they think it will be a good hedge for them socially.
03:16:25
Speaker
There are some who might feel personally lied to or betrayed, but it's very small because, again, Sue and Kyle dealt with creditors. They didn't deal with retail. So the number of people who Sue and Kyle personally fucked, even if we assume that they are as evil as everyone thought, which I frankly don't. I what I've been finding dealing with them and like looking through like old communications and creditors stuff like
03:16:54
Speaker
I have basically come to the conclusion that their failings were failings of autism and not, uh, intentional deceit. I might be wrong. I am notably like a very, uh, trusting guy. So it's totally possible, but like, it really does seem like, uh, autism. And I think more than half of the creditors now also think that. So I don't know, like.
03:17:23
Speaker
Basically, this is a long way of saying I think anybody will work with them at a certain point of Social positivity, you know Like the reason that people might not want to work with them is just because they're scared of getting cancelled more so than anything else Or because they think it's a stupid idea like people will still say I don't want to work with you because it's a stupid idea Yeah, but like
03:17:47
Speaker
You see this in crypto, man. A team goes from being evil scammers to being geniuses in industry as the price goes up. Nothing about the founding team changed. They're just geniuses now because it's a higher price. Yeah, I feel like it's like that with the DeGauds guy.
03:18:04
Speaker
because people were like, oh, you're such a dumbass for doing it on Soul and then switching to ETH at the worst time when Soul owned or whatever. And then it's like, the podcast he had with him was awesome because he was, I liked that one a lot.
03:18:20
Speaker
Well, he's realizing, I think a little bit of what I was talking about before too, that everyone is realizing, everyone who has any modicum of success, which is you have to stop being scared to send it to zero. You have to develop a community that is centered on like an actual value, right? Like.
03:18:36
Speaker
Everyone talks about like, oh, community values. And it's like, wag me like we all love each other. It can't be some gay valence bullshit that isn't strongly appealing. It literally has to be like an explicit thing that is so, so niche that many people hate it. You know, like that's why Remilia was successful was because they were they were not scared to say, I will embrace doing this specific thing.
03:19:02
Speaker
that I understand is literally going to turn away buyers. There are potential people who will never buy because of this, but I'm doing that because I know that other people will love it so much that this will become their favorite thing in the entire universe and they will be infinitely loyal, right? And those other people that first group you turned away, they'll probably buy in later at a higher price anyway, because they see the price action derived from your planning here. So
03:19:28
Speaker
That's every community. Think of a meme coin that has succeeded long-term for a reason other than this. Think of an NFT collection succeeding long-term because of something other than this. It's not real. It can't happen. It has to go to zero at some point, or it has to have something. It has to have an interest in it outside of the finances of it. Unless it's like Tether or like a protocol with like an actual use case, obviously. Those can be discounted.
03:19:59
Speaker
I could see friend tech surging after this, just for the reason that you said in some weird way, but I guess a very low amount of active actual users, but everybody loves racer. So it's a weird thing, but it's like, would I buy the friend tech token now? No, because I already have a lot. I'm already overexposed to it. Uh,
03:20:20
Speaker
And it's like, I'm unsure of what can be done from here. Now I know that there also is something that can be done from here because racers consistently pulled off weird wacky shit. So again, that's why I'm not selling. I don't know. How are you? Uh, did you get a friend tech bag? Did you get an airdrop? I did. Yeah, yeah, I did. Yeah, yeah. I, I, I, I fumbled my bag a little bit, but it's all good. Did you sell the bottom? I pretty much sold the bottom. Yeah.
03:20:47
Speaker
No, no, no, I mean it's lower now than it was when I sold but I sold like the previous the previous bottom or whatever but like I Sold and I bought back in Like that's what I did I sold and then I bought back in and then I sold at a lower price like oh I like totally self and it's probably yeah because like It's just this this shit is so weird dude because it's like
03:21:14
Speaker
You gotta not trick yourself into listening to what everyone has to say. Some close friend will be like, I'm bearish. And then the timeline will be super hyper bullish. And you're like, OK, how do I judge these metrics? You can't. You just have to listen to your gut intuition. A lot of the time, that's just holding.
03:21:33
Speaker
No, I mean, it's so fucked because it's just like this is how I feel about everything in life. It is true that you can relate crypto and everything like this to basically everything in your life. It's like if you feel uneasy about it, like you probably should get out or you probably should just like wait the feeling out and just get to a different place. Yeah, it's probably many times. It's like with trading, right? Like if you look at the charts and you're like,
03:21:56
Speaker
I'm unsure of what happens right now. You can just not open a position or you can just close your positions too. You know, like maybe later you'll regret it, but like, uh, if you, if you don't know, like that's fine.
03:22:12
Speaker
Yeah, in general, I just feel like everyone right now in the market is holding and they're just assuming that everything's going to go up. And I think that for clarity's sake, you have to assume what if everything just goes down to zero and you're just... That's just the only way I can just justify the game of chicken or something like this. Because it's just like, when is the sentiment going to go away? How long has this been going on? I feel like last year was a bull run.
03:22:38
Speaker
And then it's like, this year's been a bull run as well to some extent, but not as much as last year, not as much as the end of last year. Or a thesis that I've been seeing a lot that I actually think may be true is that what we're in right now is not a bull run or the beginning of the next cycle, but like this was actually all just like an echo bubble that got carried out much farther than anyone expected it to buy the ETFs.
03:23:01
Speaker
And the actual bull has yet to come. Now, there's always a chance that we bridge it. We bridge the two.
Intuition in Trading and Podcast Reflections
03:23:08
Speaker
But like, if you look at the level of retail involvement, you look at our search metrics for any crypto protocol, any crypto company.
03:23:16
Speaker
not high dude that's the thing is that like i try to somehow retail somehow doesn't know retail doesn't know at all they don't care there's it's not in the news as much like spf scared everyone away for something is that like actual literal zero right now and uh i don't know like i i do like
03:23:36
Speaker
I mean, I trade, but most of the shit that I have on hyper liquid and oxfun and whatever is purely there because I think trading is fun to do on stream and talk about in terms of the psychology of what goes on and see how to actually improve your ability to trade because there are so many ways to have the correct thesis on something and still manage to lose money.
03:23:59
Speaker
So it's fun to try and systematize a framework that prevents you from losing money on trading all the time. But it's not enough money that it actually makes sense for me to be trading in terms of my time investment. The amount of money that I have on my trading exchange portfolios is 1% or 2% or some shit compared to my spot holdings.
03:24:21
Speaker
Yeah. I mean, I think the echo bubble thing could be true for sure. It's weird. I mean, the Ethereum ETF being approved made me pretty bullish, but I felt like that didn't
03:24:34
Speaker
I don't know how to, we're getting a lot of good news and the price isn't, isn't really going up. It's an election year. It's an election year, which is like this huge thing in, in, in, in equities are at all times the highest, like the S and P 500 or whatever. You know what I mean? Like that means something, but like, it could still just be like this weird conditioning of an echo bubble that is good.
03:24:55
Speaker
that the market conditions are good, and it's just an echo bubble that will just go down once the chat market crashes. Who knows? It's really weird. Yeah, that's the other thing is crypto is usually correlated to the S&P, but it's correlated in terms of
03:25:10
Speaker
Uh, if they go down, we go down, but them going up doesn't necessarily mean that we're going up. It sucks. That shit sucks. Um, but no, anyway, um, I really appreciate you taking this time and doing this. And finally, and just like me hitting you up and you said, sure. Yeah. Sorry. I didn't want you to think I was like, uh, ignoring you or whatever. It's just that like, no, no, it's cool. It's all good. Fucking calls all the time. Uh,
03:25:33
Speaker
No, and I really appreciate it, and that was fun, and I think that this is sick, and I'm going to edit it, and thank you so much for your time. Yeah, thanks for talking. Yeah, man. It was a fun time. Shout out to you. I have to like... What are you going to shout out? I don't know, actually. I was going to say something retarded, but then you... I wasn't going to shout out any specific, serious thing.
03:25:56
Speaker
Although shout out insert, shout out Loris, the ox fun team, Sue, Kyle, Bruce, shout out Ramelia, shout out verse, shout out all of my friends who I didn't name specifically. Uh, shout out verse or creative geniuses. That is funny versus what is funny. It's just funny that I, I'm realizing the reason that I like working with Sue and Kyle actually in the end winds up being that like, uh,
03:26:22
Speaker
They they like doing more fun creative things, you know, like that. They're in it for fun. You guys like I like listening to your podcast with verse because you get super stoked now about all the shit that you're doing. And it seems like you're just like content house churning out all this shit. And it's like this, like your build. It's like very building.
03:26:46
Speaker
building mode. If you're just constantly in building modes, it's like, oh shit. You know what I mean? It's like, I like hearing that. It's, it's, it's somehow, it's like, it's like lifting or something. It's like going to the gym. Um, all right, man. Appreciate it. Have a good day. Godspeed. Good luck.