#817 Educating The Masses About NFTs w/ Randi Zuckerberg

Randi Zuckerberg is an entrepreneur, investor and philanthropist. She has recently gone all-in on the NFT world, including buying NFTs, mentoring artists, and education as many people as she can about the power of this technology. In this conversation, we discuss the importance of NFTs for artists, women and different generations. Randi also shares her stories and experiences since getting involved in this space. This interview is brought to you by Okcoin. ======================= Okcoin is one of the most popular licensed exchanges. Okcoin is the first to bring new cryptos to market, offering some of the lowest fees in the industry, an easy to use app, and Earn feature--you got to check out their beautifully designed app! It’s easier than ever to sign up, buy and trade crypto in just 2 minutes on Okcoin with credit & debit cards or just link your bank account to the best new crypto assets. So get started, and go to Okcoin.com/Pomp ======================= The Pod Pro Cover by Eight Sleep is the most advanced solution on the market for thermoregulation. It pairs dynamic cooling and heating with biometric tracking. Go to https://www.eightsleep.com/Pomp to check out the Pod Pro Cover and save $150 at checkout. Eight Sleep currently ships within the USA, Canada, and the UK. =======================

Speaker names marked ? are inferred from speaking time and the show’s known hosts — they are not voice-verified.

• 0:02Anthony Pompliano?

  What's up everyone? This is Anthony Pompliano. Most of you know me as Pomp. You're listening to the Pomp Podcast, simply the best podcast out there. Now let's kick this thing off. This episode is part of a partnership that we have with OKCoin to start to unpack some of the players, movers and shakers in the crypto industry. Randy Zuckerberg is an entrepreneur, an investor, and a philanthropist. She really enjoys trading NFTs, helping out in the communities, and also has some very unique views on both art and utility. I enjoyed this conversation with Randy, and I hope you do as well. Before we get into this episode, though, I want to tell you a little bit about OKCoin. OKCoin is one of the most popular licensed exchanges. They're the first to bring new cryptos to market, offering some of the lowest fees in

• 0:46Anthony Pompliano?

  the industry, an easy to use app, and an earn feature. You gotta check out their beautifully designed app. It's easier than ever to sign up, buy, and trade crypto in just two minutes on OKCoin. You can use your credit or your debit card, or you can just link your bank account to the best new crypto assets. To get started, go to OKCoin.com/pomp. Again, OKCoin.com/pomp. All right, let's get into this episode.

• 1:09Speaker 01

  Anthony Pompliano runs Pomp Investments. All views of him and the guests on his podcast are solely their opinions and do not reflect the opinions of Pomp Investments. You should not treat any opinion expressed by Pomp or his guests as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of his personal opinion. This podcast is for informational purposes only.

• 1:33Anthony Pompliano?

  All right, Randy, what are you working on these days?

• 1:35Speaker 02

  I know. Basically, I say like, got an hour for me to explain to you. I'm like, actually, no, like, I'm too busy trading NFTs to even give you an hour to explain what I'm doing.

• 1:46Anthony Pompliano?

  Are you buying and selling NFTs? Are you like a DJ and flipping them?

• 1:49Speaker 02

  I'm, oh my gosh, I'm such a DJ these days. But, you know, it's interesting. I entered the space thinking that I was kind of gonna be a collector. And then I ended up sort of being like mama bear mentor to all of these NFT artists and creators that are out there, because I guess there's, there's not that Many people that have played in both worlds that I have, I've played both in tech on the front lines of web too. But then I also have been on Broadway myself and have produced shows. And so I know what it's like to take an artistic project and turn it into a business. And so I sort of found myself as almost like mama bear mentor to a lot of these NFT collections. And that's sort of the the role that I've been playing and specifically with

• 2:34Speaker 02

  women led collections.

• 2:36Anthony Pompliano?

  How many of these creators, and I'll use that terminology loosely because I think that you could call them entrepreneurs, artists, a whole bunch of stuff. Let's just call them creators to make this simple. How many of them are like business minded versus they're just like, I want to create art and like this business thing, somebody else is gonna have to help me figure it out.

• 2:52Speaker 02

  Yeah, that's a great question.

• 2:53Anthony Pompliano?

  That's all Randy, listen, hold on, hold on. That's all we do around here. Just so that you're sure. That's all we do is ask great questions. Go ahead.

• 3:00Speaker 02

  I love it. No, I and I I'm such a fan of this podcast and show. So I'm really excited to be here talking about this. But I think in the early and it's weird to say in the early days because we're still in the early days of all of this. But at the beginning, I think there was a lot of artists that stumbled into suddenly running multimillion dollar businesses and collections. I think now people are getting a little smarter. You have artists that are teaming up with seasoned entrepreneurs and business professionals. And so people are actually going into these projects with really well thought out road maps and business plans. But I do still find that many of the of the creators, as we're

• 3:42Speaker 02

  referring to in them in this space are are a little bit in over their heads right now.

• 3:46Anthony Pompliano?

  Yeah. And when you see these folks doing this, is it like art? So when I think of like art, right, it's like something that would go on the wall, whether it is more kind of token based and movement and sound and kind of visual. Or is this stuff more like utility based type NFTs that you're seeing? And like, is there a difference in like where value accrues? Or how do you think about like what it actually does versus what it looks like?

• 4:10Speaker 02

  Yeah, I you know, it's funny, when I got into the space, well, six months ago, I was that skeptical person who was like, why the hell? Would anyone like spend $30,000 on a JPEG like I was that person? Um, and it's funny now when I evaluate a project, I have about a 10 tier system that I look at to do my own diligence on projects and sometimes the art itself isn't even something that's on that list to consider because I think so much of where the NFT direction is going is in these utility tokens like you're talking about and in membership and community and identity and what it says about you and what you get.

• 4:53Speaker 02

  So actually I would say the art itself is at the bottom of my criteria list and sometimes not even on it at all.

• 4:59Anthony Pompliano?

  What, what's like the craziest one you've bought? Is there one that's like super expensive? Or you're just like, damn, I was drunk. I shouldn't have bought that one.

• 5:07Speaker 02

  No, I mean, that's like the story of my life. I wake up every morning and I'm like, oh shit, like I should, did I really get that? But I think one of the coolest ones that I have, I have one of the rare world of women utility NFTs that actually let you be part of their really small curator club that buys other artwork and then sells it. So it's almost like being on the board of a company. And I think like that was the moment that the light bulb really went off for me that, you know, nonprofit boards will never operate the same way again. Corporate boards, like why

• 5:49Speaker 02

  would you be part of this dumb system where like you have to buy into being on a nonprofit board? When you could actually be a collector of a utility NFT, help the organization and actually see some economic upside from doing so. So that, when I bought that special world of women, that was the moment I feel like it really clicked for me.

• 6:10Anthony Pompliano?

  All right. I got a lot of questions for you along these lines. First is, uh, there's a lot of, what most people would put on like a pedestal and say, wow, these are really important, wealthy, well-accomplished people in like the nonprofit world, etc. Are these people like buying monkey JPEGs and now like talking on Discord? Or is it like, oh, They still have some foot, you know, like in this like web three kind of NFT based world, but they still kind of resort back to or default back to some of the things that they either work on, on other nonprofits or, you know, in their past work. Like, how do you see the balance between that? And how much of it actually is bleeding in and kind of changing?

• 6:46Speaker 02

  Yeah, I would say most of the conversations I have with that group of people, let's call it like web 2.4. Like, they're not, they're not quite there yet. They know that they need to drop a few NFT terms in a conversation to seem cool and seem with it. And it seems like every company that's raising money right now is the web three company, even if they don't know what web three means. Like, you just say the word metaverse louder and louder, and then you just raise more capital, I think is how it works. But, you know, I do think that organizations are starting to wake up to the fact that there's just, especially in the artistic industries that I work in, I mean,

• 7:29Speaker 02

  there are more middlemen than people actually making art. And it is not sustainable to run an industry where like for every creator, you have 15 middlemen. And for me, I mean, I was just tired of banging my head against the wall trying to get artistic projects done. And that was really what drew me into NFTs and web three in the first place.

• 7:52Anthony Pompliano?

  I don't know any other way to how to ask this, but like, is like the legacy art market kind of a scam? Like, it kind of feels like there's like a, like a bunch of nonsense that goes on to your point of like, a bunch of middlemen. I've read a book, Boom, which was all about like the history of the art market. And like, you just kind of read it, and you're just like, man, it's a wild whole industry and the way that they, you know, have the auctions and they kind of build up demand. And maybe it's not that different than like, marketing campaigns in the digital world or something like that. There's some similarities. But there's also like, okay, if I want to buy an expensive piece of art, I bring my, my agent, I bring my person who's going to actually underwrite it, then you bring your agent and then, and you're just like, man, there's more people involved in this transaction, like buying a house or something like, well, what's going on?

• 8:36Speaker 02

  Also, not to mention that, like, you have to apply Fly to buy a nice piece of art and sometimes you get rejected like I I know a lot of people who have like actively tried to buy multimillion dollar pieces of fine art and they're like you're not cool enough to be sold to or things like that and like I'm sorry like does the artist even know that that's happening because if I was an artist I was the artist and I had the chance to be making these sales and just a gallery owner or an agent was turning people down I would be furious so

• 9:09Anthony Pompliano?

  Randy do you know how much of a loser somebody has to be to show with five million dollars and be like you ain't cool

• 9:18Speaker 02

  but don't you think like that's like everyone who has bought into Crypto punks and bored apes were like those people in life were like told they were uncool and now we're like like fuck you take my five million dollar check like like like there's an entire economy of people like that that have been like rejected from from the the world I think people underestimate the power of of that

• 9:43Anthony Pompliano?

  Well you you start reading these articles now and it's like people are like oh you know the the crypto folks are they're buying homes they're buying a luxury goods they're buying artwork whatever and I think that a lot of it is a repeat of what we've seen in the past right so there was a whole wave of the dot com entrepreneurs then there was kind of the mobile wave entrepreneurs now there's the crypto entrepreneurs who whenever you have a small industry that grows into something big right there's obviously money that gets made by somebody somewhere and what I think about in this industry that's so fascinating one it's much more geographically dispersed which I think is a huge benefit and then two is people are just generally younger and so when you put those things together you're like okay we have a bigger geography distribution and we have people who are

• 10:28Anthony Pompliano?

  much younger there's folks like I don't want to say who it is but I know somebody on Wall Street who is like the third or fourth in command at their at their large hedge funds like a 40 billion dollar hedge fund they are livid that these young kids are making more money than them like they are so pissed and it's just like yeah you just bet on the wrong industry like you're clipping basis points at your hedge fund and these kids are funding things that end up going and disrupting the world and like you know you kind of like you get what you deserve right

• 10:56Speaker 02

  Ah, totally. And um, I mean, not to like climb on my feminist soapbox a little, but for years I've seen women and female founders struggling to get the, you know, 2% of venture capital that goes to female founders. And so for years, I've been just screaming from the rooftops like, women, get into crypto, like, get out of the system where you're not getting funded and you're fighting for those dollars. And so what makes me so excited now, when I see that, you know, there's a long way to go in crypto, but 20% now almost of the NFT market is women, suddenly you're unlocking access to so much more capital for, for people who couldn't get it before at a faster rate. And that's something that's

• 11:40Speaker 02

  just extremely exciting to me and that I I've been trying to onboard so many women into the space.

• 11:46Anthony Pompliano?

  How does pseudonymity play into this, right? This whole idea that like, I don't know, I talked to a bunch of degenerates on the internet all day long, on Twitter, on Telegram, Signal, etc. I don't know who they are. Like, I even invested in a couple of founders that I know their pseudonyms, but I don't know who they are. I've talked to them on the phone, so I may know whether it's a male or a female because of they either told me or their voice or whatever. But I don't know their real names. And the people who I haven't talked to on the phone, I actually don't know where they live or much about their background. Like, does that help or hurt in in this scenario?

• 12:19Speaker 02

  Yeah, you know, that's, that's an interesting one. I, I actually had a meeting late last night with someone who I wasn't sure how to refer to them on the Zoom as like their crypto name or their real name that popped up. I was like, it feels so weird to call you by your real name. I do think the trend that I'm seeing is for doxed teams. I think that the, the pseudonym thing was fun for a while, but now that there are actually just millions and millions of dollars at stake, and so many people have had bad experiences of getting rugged by projects. I, at least the trend that I'm seeing, and I'd love your thoughts too, is that people really want to know who founders are.

• 13:02Anthony Pompliano?

  Yeah, I think that there's this element of it's cool, but at some point you become too successful. And then all of a sudden, everyone's like, well, hold on a second here. I'm not really going to give you that much money unless I understand that we just saw the Bored Ape Yacht Club. I think it's like a perfect example where I think there was people inside of the crypto community who knew who they were, obviously. But it was like an open secret almost. And then once it got kind of blown open by the media, you know, on one side, it's like, okay, journalists are trying to make sure people are doing the things that they're saying they're doing. And there's accountability and all of that. Then there's like the cynic in me that's like, ah, they're just doxing people for clicks. And, you know, maybe that's not healthy. And the truth is probably somewhere in between,

• 13:46Anthony Pompliano?

  right? Of like, kind of how this plays out. But I do think that if we take it to the extreme, we look at, you know, Satoshi Nakamoto, the ability to walk away is probably the key to keeping the pseudonymity. And so if Satoshi was still today, participating in the community, under that pseudonym, I don't think that it would be as high a probability of keeping the pseudonymity. And so it's almost like you have to create something and then walk away, which is really hard for people to do, right?

• 14:15Speaker 02

  It is really hard. But I, you know, I think now that we're starting to see some crossover between Web three and traditional finance, there's, you know, a lot of the projects that I'm supporting are now going on to raise venture capital rounds and kind of more traditional rounds. And so you just can't get away with being a completely anonymous team anymore. If your goal is to, you know, go on and raise any kind of traditional capital.

• 14:40Anthony Pompliano?

  Yeah. Joe, John, what questions you guys got?

• 14:42Speaker 03

  Hi, Randy. Nice to meet you. Thanks for coming on. My question would just be around, you talked earlier about how you evaluate the value of an NFT project, and you have this checklist of 10 or so items, and art may not even be that high on it or on it at all at times. Can you run through kind of some of the other things you look at on those 10 items?

• 14:58Speaker 02

  Sure. And it's, you know, it's so funny because I think so many people go through the same journey of start of getting into NFTs and evaluating it. You think that it's all the art when you first get into it. And so that's why so many people are skeptical thinking, you know, why are people spending this much money for a JPEG? It's just art. And then you realize as you go through the journey that actually the art is just the least important thing. So for me, the first and foremost is the health of the community. I'm, I'm looking at the Discord, I'm looking at how many active members they have, not just total members. I'm looking at the, the health on social media and how people are talking about the project. Then I'm looking at the founding team, like we were talking

• 15:42Speaker 02

  about, I want to make sure that it's not just an artist that's in over their head running a multimillion dollar business. I want to make sure that there are some members of the founding team that are technical, that have business experience. And then, you know, I'm diving deeper on kind of the utility of the token, how the longevity of the project. Is this just a people FOMOing in now or a few big whales? Or is this actually a project that can have both short and a me and long-term value? So those are just a few of the things that, that I'm looking at. And then I have kind of a, a detailed diligence checklist

• 16:21Speaker 02

  that I try to do. But, um, you know, it always shocks me how few people do any research at all. Uh, 90% of the people I talk to are just FOMOing in based on influencers and things they're seeing. And I mean, that's, there's, there's real money at stake. People should be thinking about this like any other investment class.

• 16:42Speaker 03

  And my second question would be around ownership, right? So we've seen a lot of debate recently around, uh, who owns web three? Whether it's kind of VC stuff or other things like, just your general thoughts on kind of that, uh, conversation?

• 16:54Speaker 02

  Yeah, gosh, you know, I, I, my thinking changes hourly, honestly, depending on who I talk to. Like, I'll be all in on decentralization and then I'll talk to someone, I'm like, oh, yeah, no, but they- They shouldn't be, they shouldn't have a voice in this process. You know, I, I'm thinking a lot about DAOs right now in, in my response to your question because conceptually, I love the utopian vision of a DAO of people coming together and making decisions. But I think in reality, any of us who have ever sat in a room with more than six people and tried to make a decision, know that that is just like not the best way of deciding how to run a business

• 17:38Speaker 02

  or to do anything like that. And so I think that what we're going to see is there has to be some base layer of centralization or a social code, if you will, that comes into play here so that people do trust the system and that good decisions can get done. But I don't know, what I, what are your thoughts? Are you, is that sounding at all in line with what you're thinking?

• 18:03Speaker 03

  Yeah, I think generally I agree with the DAO comment around, uh, it's very difficult. Centralized entities offer a lot of advantages that people don't talk about in the web three conversation. Uh, and when it comes to DAO specifically, the decentralized aspect is, is obviously appetizing for people that were early in on Bitcoin and other technologies of that, uh, of that structure. So I get it from a decentralization perspective, but I think what we're lacking now is the ability to execute quickly and have someone running point on a lot of these things, right? So, uh, I think we'll get there at certain things, right? It may just take some more time, but ultimately I think we're probably, uh, in agreement on the, the structure has the right idea, but maybe not the right kind of, uh, uh, throughputs right now.

• 18:42Speaker 02

  Totally. Yeah. I think, yeah, we will have to move to an organizational model for these projects that looks more web two like, but hopefully with that web three ethos.

• 18:53Speaker 01

  Randy, can you help me wrap my head around why some of this stuff is so valuable in the NFT space? So I get the utility part of it, if it can be used for access or something like that. Um, but like, why are Bored Apes so valuable right now?

• 19:06Speaker 02

  You know, I think a lot of it is about the flex. It's all about the identity. You know, it's the same reason why people are spending hundreds of thousands of dollars on a Birkin handbag, or a great car, or to live on the fanciest block in a zip code. So some of it is, a lot of it is what it says about you. And I think we're coming out of two years of spending our entire lives online and digital and morphing more and more of the time that we spend with our colleagues and our social life. And so people want to have that same flex online that they have in the real world. I think a lot of it, too, is community. People want to belong to something.

• 19:50Speaker 02

  They want to belong with something that feels special and exclusive and rare. And then the final piece of it is just like, sometimes like something has value just because you value it. And it's really hard to put a dollar amount or an investment figure on that. I often joke that I got into NFTs because the last two years were so shitty, having three young kids and a global pandemic. Like it left a void in my soul that could only be filled by buying JPGs.

• 20:25Speaker 02

  That is like how I got into NFTs. And like, it's funny, but I think, I think there's actually millions of people who feel the same way. And it's, you know, so there are a lot of reasons, but, but I just, I rarely hear people say that it's the art that makes them do the big purchases.

• 20:47Anthony Pompliano?

  Randy, what, what do your friends think about all this? They think you're crazy? Are they just like, oh my God, she's gone off the deep end, like she's buying JPGs on the internet and let's have an intervention? Or are they like, hey, where do I go buy one? What's the best one to buy?

• 21:00Speaker 02

  I mean, I think at first they're like, Randy's a goddamn lunatic. To our friend. But then always inevitably about two weeks later, that those same people that just thought I was a lunatic are like frantically texting me 30 times a day to get my recommendations on NFT collections. And like, I can always tell when someone is falling down the rabbit hole. So there are a lot of lunatics down here with me. And in a few years from now, we're either all going to be so rich off of these, or we're going to just like, laugh and be like, wow, we just all lost our goddamn minds.

• 21:43Anthony Pompliano?

  So one of the things that I know that you care a lot about is young girls and STEM education. I have a newly born, new baby, newborn, newborn, whatever, daughter. Newborn baby girl. Newborn baby girl. And I basically tell her two things every single morning. I wake up and I say, good morning. And then I tell her, revenue minus expenses equals profit. And then I go about my day.

• 22:10Anthony Pompliano?

  Which is a great education and building a base of a foundation for business, but not maybe not so much around STEM. So talk a little bit about kind of what the work that you guys have done there and, and kind of what you think is actually the best way to educate children in general. But, but if you were talking to my daughter, like, what do you guys do there that is so impactful?

• 22:28Speaker 02

  Totally. And first of all, congratulations. That's so exciting.

• 22:32Anthony Pompliano?

  Well, it's exciting for me, maybe not for her, but she's got stuck with me. So it's good for her.

• 22:36Speaker 02

  No, she's so lucky. It's awesome.

• 22:39Anthony Pompliano?

  That's what I tell her, too.

• 22:40Speaker 02

  If it makes you feel any better, we try to do on dinner, if we, when we have family dinner, a couple of times a week, we try to just go around and everyone says something they're thankful for. And my seven year old, when it got to him on Friday night, was like, I'm thankful for Ethereum.

• 23:01Speaker 02

  I was like, I was like, sorry.

• 23:04Anthony Pompliano?

  We're all laughing right now because you're talking about a seven year old. We had a 12 year old come on here and the 12 year old literally made like $5 million and we were trying to convince him to buy his school so he could name it after himself.

• 23:16Speaker 02

  Wait, that?

• 23:19Anthony Pompliano?

  Literally Benjamin, right? Yeah, yeah. He's in like London, he's selling NFTs. He made like a whale based NFT, made a couple million dollars. And we're trying to convince her like, dude, 100K definitely gets you naming rights to your own elementary school.

• 23:34Speaker 02

  Absolutely. Okay, that's the best idea that I heard.

• 23:38Anthony Pompliano?

  Seven year olds saying that they're thankful for cryptocurrency is the next best, though.

• 23:43Speaker 02

  So, yeah, so that was, you know, I couldn't tell if that was my worst or best parenting moment right there. But, um, you know, one of the things that, so that's, that's a real passion area for mine, especially is getting more women and girls into STEM. And I just, a lot of the initiatives that my company is doing is around using entertainment. We did a whole roadshow a few years ago where we went to cities around the country that ranked the lowest in terms of STEM education. And we actually had a dessert shop, a pop-up dessert shop that taught STEM concepts in a lot of those cities from like Chattanooga, Tennessee, to parts of rural Florida and places.

• 24:28Speaker 02

  And, uh, so that's been a big passion area of mine. A lot of the NFT collections that I support are giving back to girls who code and teaching in schools. I, I just, I have spent so much of my career being the only woman in every room that I'm in. And, uh, to me, it would be a failure of our generation if your daughter's experience is the same as that.

• 24:55Anthony Pompliano?

  Yeah. It's, uh, the other thing that I tell her, uh, and my brothers have heard me say this before, whenever she starts crying, I just remind her, I say, look, dad's going to give you all the skills you need. I'm going to teach you to read and write, to code and count, and then I'm going to unleash you in the digital streets. You're going to go get all the virtual coins and bring them back and put them in a bag for dad.

• 25:17Anthony Pompliano?

  And then she looks at me and she's like, I think I pooped my pants.

• 25:23Speaker 02

  Yeah, like my, my kids, like they don't even, they don't know how to like work a microwave, how to do anything, but like they are a master of rarity tools.

• 25:34Speaker 02

  They can like diligence the shit out of an NFT collection.

• 25:37Anthony Pompliano?

  Can you imagine going to school now, like in, you know, when you're seven, eight years old, you'd go into class, they would ask you, you know, like, oh, what do you do? You're like, oh, I go home, I play basketball or like, oh, this weekend I went whatever with my parents. If now you're like, they're like, what'd you do this weekend? Like I made more money than you did.

• 25:55Anthony Pompliano?

  Like that's literally what's gonna-

• 25:56Speaker 02

  My son is probably, my son is probably at school right now and his friends are like, what do you do? And he's like, I helped my mom buy like $30,000 worth of like JPEGs yesterday during lunch.

• 26:08Anthony Pompliano?

  Like kids had, was it Tamagotchis? Remember those little digital, uh, like pet things? I don't know. My, my brother's a little bit younger. They may, they may not have been around then, but they had these little digital things. They were on like a keychain. You'd walk around and like, that was the like, oh, I got this digital item. Now kids are like, dude, you got a Tamagotchi? I got a $50,000 punk.

• 26:30Speaker 02

  Exactly. Um, and he's like, I, I was like, sorry. I, you know, I, I know I said I would like read to you now, but I got it. Like I, I'm in the middle of a flip. So he's like, all right, mom, like I'm in it with you. Like how much do you pay for? So yeah, so this is now every conversation in our house. So we, we apparently, maybe I'm on the crazy train, but we're all on it together. So at least I have company.

• 26:55Anthony Pompliano?

  That's fine. That's fine. Um, what, what do your parents think about this? Are they like at all into NFTs or any of this stuff? Do they like, do your kids ask them for like Christmas gifts to be an NFT or like any sort and like cryptocurrencies or anything?

• 27:11Speaker 02

  Yeah. It's funny you say that because my parents opened a crypto account because my two older sons asked for Bitcoin for the holidays.

• 27:20Anthony Pompliano?

  Yeah, two of your sons.

• 27:21Speaker 03

  Smart kids.

• 27:23Speaker 02

  Yeah, so I, and so I told my dad that he had to be the custodian of the account for them. And so that kind of led him through a whole process. And now, now I have my mom texting me and she's like, hey, can you get me on the, on like the gold list for Meta Angels tomorrow? I want to be in the tent and everything. And I'm like, Mom, like, I didn't even know about that collection. Like, awesome. So.

• 27:47Anthony Pompliano?

  Listen, you gotta be careful. Parents have way too much time, especially as you, me, and other folks our age start to get like our own children, et cetera, and they become grandparents. My parents will send me stuff that they found on the internet and I'm like, the only way you find this is if you got free time. Like, that's the only way that you find some of this stuff. So to know that your parents are literally now Bitcoiners or into crypto because of your kids is pretty cool.

• 28:13Speaker 02

  It's really cool. And one thing that is really cool, you know, I've helped onboard a lot of my mom's friends into this space too. And I constantly hear over and over again from women in that generation, they're like, this is the first time I've ever set up a bank account by myself. Because in that generation, it was really the, the men in the household that controlled the finances and so many of these women, it's the same story. They're like, this is my first independent account. And so it's, you know, that seems so wild for me to hear, but it's really, it's so empowering for people to be able to set up a crypto account and own it and, and run it by themselves.

• 28:53Anthony Pompliano?

  Yeah, it's, we were talking earlier about like the GoFundMe stuff, et cetera, that happened over the weekend. And there's an element of like, not having an account is like step one of you're in a bad situation, right? Then if you get an account, great. Then this is like taking it to the extreme is if you have an account that has sovereign kind of control of your own money, it's the best form of all of these, right? Where you, you just kind of move people further and further down the, down the list. And so there is an entire generation, right? Of kids that are going to grow up and like, that will be the bank account. That will be their, their natural kind of relationship with monetary value. And it'll look completely different than you and I or our parents or anybody.

• 29:32Speaker 02

  Totally. I mean, sometimes I sit there and it takes me like three hours to link an account or something. And I'm like, why does anyone put up with this shit like this is and then you you know, you just have to remind yourself like, we're just at the beginning. It's going to get better. It's going to get easier. But that is the one thing I worry about is I feel like there are millions of people onboarding into the space right now. And it's kind of not ready for them. And so many people are getting hacked and getting scammed or and that, you know, so many people are having a bad first experience with NFTs or crypto. And I'm glad they're coming to the space, but I almost wish they would wait six more months or a year for the tech to be ready for them.

• 30:13Anthony Pompliano?

  Yeah, it's pretty crazy. You guys got any other questions?

• 30:16Speaker 03

  Randy, how do you think about onboarding in general to your point of what you were just saying, like, are NFTs the best thing we have right now to onboard people into crypto rather than just buying Bitcoin or Ethereum or something else? Or is it something else or new technology that's coming in six months or a year, you think?

• 30:30Speaker 02

  Yeah, I think right now, especially for women and newcomers into the space, I think NFTs are the best onboarding because, I mean, e-commerce exploded so much during the pandemic and launched us, you know, a decade into the future of where it was supposed to be that everyone has some degree of familiarity with purchasing an item through e-commerce. And so NFTs, I think, are a real, an easy gateway to wrap your mind around, okay, I understand what a collectible is, or I understand what a membership card is. And then from there, you can fall down the rabbit hole of DeFi and the different currencies. But at least I've

• 31:10Speaker 02

  found that explaining an NFT or helping people buy their first NFT is, seems to be the best gateway for newcomers.

• 31:17Speaker 03

  And what's the best, is there like one utility from a project that sticks out where you're like, whoa, that was really cool?

• 31:23Speaker 02

  Well, what I'm, I'm really excited right now about kind of the, some of the evolutions that are happening with these collections. So two collections that I'm tracking pretty closely, Flower Girls and Onchain Monkeys are both doing something right now where the, the original art evolves. So depending on the rarity that you had the Flower Girls, the, the flowers are pollinating right now. And so the art that you have will be completely different based on how many you hold. And so they're introducing these kind of basic ideas around DeFi of staking and yielding and things like that, but they're doing it

• 32:04Speaker 02

  through art. And I think that that's a, going to be a really interesting way to get millions of people deeper into DeFi without even knowing that they're in it.

• 32:14Speaker 03

  And I got one more for you. Traditionally, I think people thought of portfolios as the 6040, right? Some mixture of kind of equities and bonds and so forth. How do you think that looks like 10 or 15 or like your kids' age, right? When they're, when they're adults? How do you think their portfolios look? Is it mostly crypto focused stuff? Is it NFTs a portion of that? Is it still traditional financial things? Like, what are your general thoughts?

• 32:36Speaker 02

  Wow, that's great. I, you know, it's funny. I was just brainstorming this morning with a few people about like, what, what is an index fund across crypto look like? And I know people are already starting to do things like that and think through that. But I think just like you buy into the S and P or your, I, I think there's going to be many more vehicles where instead of picking individual tokens and crypto projects on your own, that you're buying into more of these like index funds and having kind of a broad range across the industry. So I'm, I'm interested in that. And I think that will maybe make the space a little safer and a little less risky for new investors.

• 33:16Speaker 03

  Gotcha.

• 33:17Anthony Pompliano?

  Randy, before we let you go, I got one question and then you gotta tell us where to send people on the internet. What's the craziest thing that you've experienced in the entire crypto journey? Like, if you just think back, you're like, no one will even believe that this actually happened.

• 33:31Speaker 02

  I mean, it's like,

• 33:32Anthony Pompliano?

  Yes, that one right there. Tell us that story. That's the story right there. Tell us that one.

• 33:37Speaker 02

  No, it's like every, okay. So I was at Art Basel in Miami and I, I was just like chatting with some people. We were drinking a lot and I was having a lot of trouble because I'm based in New York State and there's all of these regulations in New York State around getting crypto. And I was like, I really want to buy this NFT, but I don't have enough Ethereum in my account. And like this guy I had just met, like, was like, oh, I'll transfer you some Ethereum. And then, like, I was so drunk, I just walked away. And I woke up the next morning and I was like, I just, like, legitimately stole Ethereum from someone at a party last night. I was like, like, that

• 34:22Speaker 02

  person is on the internet right now being like, Randy Zuckerberg rugged me at a party and like, stole my Ethereum and like, god damn it. And, but luckily, like, I reconnected, I gave the Ethereum back, but I just, I was like, that, like, it's just like the craziest shit that happens on a daily basis.

• 34:45Anthony Pompliano?

  That is, that is something that somebody would do. Like, oh, yeah, yeah, I'll just like, send it to you with the click of a button. Like, don't worry about it. Just send it.

• 34:50Speaker 02

  Yeah, don't worry about it. And we'll just like, can you imagine if I just like vanished from the internet after that? Like, my, my whole being at Art Basel was just like a ruse to get Ethereum from that.

• 35:00Anthony Pompliano?

  There is somebody somewhere in the world pretending to be you for sure and doing that.

• 35:04Speaker 02

  Totally, totally. I, I just gave, like, your listeners an idea of.

• 35:08Anthony Pompliano?

  Our listeners are too smart for that. They, they avoid all of the nonsense. They're geniuses, all of them. Every single one of our listeners. All right. Actually, I lied to you. I have one other question, real quick. Our friends over at Eight Sleep, they make a thermo-regulated bed, which means you can make it hot or cold. I sleep on it, my brother sleeps on it. Like, game changer. Especially now that I have my daughter. One of the things that's hysterical to me is sometimes in the morning, I'll get her, or my wife will get her and will put her in the bed with us, but I sleep on like minus five on this thing. And so I gotta remember, like, she'll like sit in it and all of a sudden she'll start like screaming and she's like, what the hell? My ass is cold. Right? Because literally I sleep on it so cold. But it's, it makes me sleep so much better and I feel rested. What's your sleep schedule? Or like, do you do anything

• 35:53Anthony Pompliano?

  to improve your sleep?

• 35:55Speaker 02

  Yeah, I actually, I read all these studies too, that sleeping in a cold room makes you sleep better.

• 36:01Anthony Pompliano?

  Facts.

• 36:01Speaker 02

  So we, so now I try, I mean, sometimes it's real cold in there, but I tried it like 65, 64.

• 36:09Anthony Pompliano?

  Yeah, we gotta get you an eight sleep. Yeah, so the bed itself is cold, then you don't have to worry about just the temperature, you can make the bed cold.

• 36:17Speaker 02

  Totally. So that, so that was a big game changer for me. And then the white noise machine started doing that. But I also, I have a two-year-old, so I also had a newborn during the pandemic. And so there was not a lot of sleeping going on in our household at all.

• 36:35Anthony Pompliano?

  I, I don't think I appreciated how hard it would be, uh, baby plus like literal lockdown, where like you can't leave. Like, that's like a, you have my respect.

• 36:47Speaker 02

  I just remember the first time I took her to a playground and her eyes bugged out and she was like, like, there's more than seven total people in the world. You forget that like kids that were in that pandemic just have a totally different view of what the world is.

• 37:04Anthony Pompliano?

  Crazy. All right. Where can we send people to find you on the internet or find, uh, wherever you want to send from like a work perspective? Where do you want us to send people?

• 37:11Speaker 02

  Awesome. Thanks. I guess the two places I'm most active right now are Twitter, Randy Zuckerberg on Twitter. I'm also, I have a YouTube channel where I try to break down concepts around NFTs and crypto in a really digestible, easy way for, for newcomers to the space. So, uh, check me out on those two areas and it was really fun to be on your show today. Thank you so much.

• 37:34Anthony Pompliano?

  It, it's only fun because my brothers joined me. One day they're just going to stop showing up and we're going to be in trouble. But other than that, I appreciate it.

• 37:40Speaker 03

  Be concerned about that.

• 37:41Anthony Pompliano?

  Yeah. Hey, Randy, they actually started a union and I told them that unions are stupid. Don't you agree?

• 37:48Speaker 02

  I mean, I would say that after getting totally, uh, just benched by the theatrical unions over the last two years, I, I'm not in a great personal place.

• 38:00Anthony Pompliano?

  Yeah, unions are losers. See? Look, there we go. There we go.

• 38:05Speaker 03

  Randy, the part that he left out is our unions, cool. We pay out in Bitcoin. Uh, we allow people to take days off. It's very flexible.

• 38:12Anthony Pompliano?

  Unions only have money because they took it from somebody else.

• 38:14Speaker 03

  It's a pyramid scheme, but we'll talk about that later. We're gonna, we're gonna get you on as an advisor.

• 38:19Anthony Pompliano?

  For NFTs as well.

• 38:21Speaker 02

  Awesome. I love it. I'm there. I'm like live, live, sleep, breathe NFTs.

• 38:27Anthony Pompliano?

  Oh my God. They're really just playing to the crowd here. All right. Thank you so much, Randy. We appreciate it.

• 38:34Speaker 02

  Thank you, guys. Have a great day.

• 38:36Anthony Pompliano?

  All right. Hi.

• 38:37Speaker 03

  Thanks so much for listening to today's episode. I really hope you guys enjoyed this one. Make sure you subscribe on Apple, Spotify, or your favorite podcast player. And if you're looking to try to transition to get a new job in the Bitcoin or crypto industry, we've got you covered. Head over to pompscryptocourse.com. We've developed a curriculum with the top teams across the industry. It's a three-week intensive training program with over 50 events packed into that three-week time period. Go to pompscryptocourse.com to learn more and I'll meet you guys for the next episode.