#860 Automating Your Charitable Donations With Crypto w/ Adam Nash

Adam Nash is the CEO & Founder of Daffy, a fintech service to help you donate money to the charities of your choice with ease. He is one of the most influential investors in Silicon Valley with over 100 companies. In this conversation, we discuss how crypto enables frictionless charitable donations and how these donations can help lower your tax bill every year. ======================= Fundrise is the largest direct-to-investor real estate investment platform out there, giving you the opportunity to achieve upside of an asset class previously reserved for institutions and high net worth individuals. That’s right, Fundrise is making high-end private market real estate investing accessible to everyone via an easy-to-use, automated platform. See for yourself how over 190,000 investors have built a better portfolio with private real estate. It takes just a few minutes to get started with as little as $10. Go to http://Fundrise.com/Pomp today and, for a limited time, get $10 when you place your first investment. That’s Fundrise.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. ======================= Since 2018 Copper has been at the forefront of institutional digital asset development. From award winning custody solutions, to creating the first truly off-exchange settlement function, Copper pioneers technology, products, and services, in lock-step with a rapidly changing world. No other infrastructure provider covers as many assets, across as many exchanges, with the speed and security that Copper can offer. To learn how Copper helps the world’s largest institutional investors secure their digital assets, head over to copper.co Copper - the unfair advantage. =======================

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. Adam Nash is the CEO and co-founder of Daffy, a new fintech platform focused on charitable giving. Nash has been one of the most influential angel investors, advisors, and board members in Silicon Valley. He's got over 100 companies in his portfolio such as Acorns, Gusto, Figma, and Open Door. I really enjoyed this conversation with Adam, and I hope you enjoy it as well. Before we get into this episode, though, I want to quickly talk about our sponsors. Today's episode is brought to you by Fundrise. You all know I believe that the best investors both understand and seek out extreme asymmetry. Fundrise is here to help you do just that. It's the largest direct-to-investor real estate investment

• 0:46Anthony Pompliano?

  platform out there, giving you the opportunity to achieve upside of an asset class previously reserved for institutions and high net worth individuals. That's right, Fundrise is making high-end, private market, real estate investing accessible to everyone via an easy-to-use, automated platform. Its 1 million users already know that the investment with Fundrise is capable of producing strong appreciation returns and income generation while helping to stabilize a diversified portfolio. That's more important now than ever in our inflationary environment. See for yourself how over 190,000 other investors have built a better portfolio with private real estate. It takes just a few minutes to get started with as little as $10. Go to fundrise.com/pomp today, and for a limited time, you'll get $10 when you place

• 1:27Anthony Pompliano?

  your first investment. Again, that's fundrise.com/pomp. Go check it out, and when you make your first investment, they'll give you $10 on top of it. Fundrise.com/pomp. This episode is brought to you by Eight Sleep. Eight Sleep is the single best product that I have purchased over the last three years. It completely changed my life. I'm not joking. Pay attention. The Pod Pro cover, which goes over your mattress by Eight Sleep, is the most advanced solution on the market for thermal regulation. It pairs dynamic cooling and heating with biometric tracking. You can go to eightsleep.com/pomp to check out the Pod Pro cover, and you save $150 at checkout. They currently ship within the United States, Canada, and the UK. And I told you, it changed my life. It helps me

• 2:10Anthony Pompliano?

  Sleep deeper helps me sleep longer. I feel much more refreshed and I have better energy. You want to know how I have relentless energy every single day? Because I sleep on an 8-sleep. Seriously, go check it out. 8sleep.com/pomp today. Today's episode is brought to you by Copper. Since 2018, Copper has been at the forefront of institutional digital asset development. From award-winning custody solutions to creating the first truly off-exchange settlement function, Copper pioneers technology, products, and services in lockstep with a rapidly changing world. No other infrastructure provider covers as many assets across as many exchanges with the speed and security that Copper can offer. To learn how Copper helps the world's largest institutional investors secure their digital assets, head over to copper.co.

• 2:54Anthony Pompliano?

  Again, Copper, the unfair advantage. Check them out at copper.co today. All right, let's get into this episode. I hope you guys enjoy this one.

• 3:04Speaker 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.

• 3:27Anthony Pompliano?

  Now, there's been a lot of doom and gloom lately. No, there's a lot of doom and gloom lately. So I want to talk about a little positive stuff. We have our friend Adam is coming on to talk about Daffy, which I actually think is probably one of the more fun, positive things that I've seen somebody build in a while. So Adam, are you there? Yeah, I'm here. Adam, how are you, buddy? Good. Great to be here. All right. I got a lot of questions, but before we get into Daffy, I want to frame your background. So I don't think many people may understand just how successful you've been as an angel investor, an operator, an advisor to various companies. In my really deep research

• 4:10Anthony Pompliano?

  for this, I went ahead and I was trying to count all the companies. I stopped after I got to like 40 and I just Googled your name and it was like 100 plus companies. So I'm going to take that as the word of at least 100 companies in terms of investor, advisor, board member, etc. What's been kind of the key to your success as being able to find these companies relatively early in their life cycles and having them turn out to be quite valuable or Successful over time.

• 4:38Speaker 02

  I appreciate that and it's a it's a quite a flattering intro. I have been angel investing now for over 10 years and so I've been fortunate to be a part of kind of the growth in a bunch of sectors, fintech, consumer, etc. But you know, when I think back to my career, I mean, people come to tech in a lot of different ways. I happened to come to it as an engineer and was fortunate enough to, you know, start my career at Apple, working with a lot of great people who are doing something that at the time seemed pretty impossible, which is to build a whole new operating system, which Apple had failed at doing a couple of times, but they had acquired Next.

• 5:19Speaker 02

  I was on a project called Web Objects, but it really taught me about focusing on creating value and always thinking about what technology can do going forward. And so most of my career has been watching technology expand from sector to sector, vertical to vertical, and thinking about what can we do now that we couldn't do before? You know, so in Web 1.0, we brought a lot of things online and had a chance to work at companies like eBay. When Web 2.0 started, I got to run product at LinkedIn, which turned out to be a great platform for people's careers. After LinkedIn, I was the CEO of Wealthfront for four years and got to be a part of this fintech revolution of bringing great software

• 6:01Speaker 02

  to finance and to regular people in terms of how they interact with their money and trying to do it again with Daffy. So.

• 6:09Anthony Pompliano?

  When you look at the fintech kind of trends, it seems like everything is being financialized. It seems like digital technology is just infiltrated, that hence the fintech kind of nomenclature. What is driving a lot of that? Is that consumers pulling it? Is it technological breakthroughs that are kind of reducing the friction and barriers for people to actually build stuff for this? Is it a regulatory change? Like, why is it that fintech has exploded? Over the last decade or so, really.

• 6:35Speaker 02

  Yeah, well, let's not forget that the most important thing when it comes to any of these revolutions in technology, it has to do with regular people and their relationship with technology. I mean, the thing that made Wealthfront hard for people to accept in the early days wasn't the technology and it wasn't the regulations. It was that basic question, will will normal people actually trust their money to a computer? To having a software algorithm manage what trades they're making and what investments they're selecting? And so I think that the consumer comes first, but there is true. I mean, technology is, it keeps getting better. The cloud has made it much, much cheaper and less expensive to build great systems. I mean, you know, when I was in school, trying to build a networked application that worked for a

• 7:20Speaker 02

  half dozen people was a real challenge. It was something that you went to school to learn how to do. Now, you know, a high school student can spin up a website that handles millions of requests. It's just an amazing thing. So I think that technology does play a huge role in why we can build companies. And then I, you know, I think there was a, a challenge about 10 years ago. Software and Silicon Valley in general had been very reluctant to go after problems in regulated areas. And I think that, you know, when we looked at the big problems, you know, finance, education, healthcare, we realized if you're avoiding the regulated areas, you're avoiding probably most of the value you could be creating with software. And so I think that fintech has benefited from all these things over the last decade.

• 8:02Anthony Pompliano?

  Got it. And so when you start to look at all of those trends, the technology, the various teams building in it, it seems like everyone is starting a bank, a credit card, like there's just so much competition. And obviously that competition leads to innovation, but it's a very crowded fintech space. When I first saw what you were doing, I said, wait a minute, I haven't seen that many people trying to innovate in a part of the financial sector, but it's not in banking services and kind of your traditional, hey, we as an organization make money off of you as a customer. Instead, it's in this charitable giving sector. And there's a whole bunch to kind of unpack in that. But like, why, just from like a, a vertical selection? Why is that so interesting to you? And why did you think there was the possibility to build a business there?

• 8:43Speaker 02

  Yeah, it's a good question. Well, I mean, part of this is always emotional. It's a sign of the times. I mean, I think the pandemic affected a lot of people in different ways. I mean, the reality is economically, the pandemic was actually quite good for a number of people with the right skills in, in certain verticals. If you're in technology, I mean, I mean, obviously, this year hasn't been as generous when it comes to stock market returns. But when you look at the stock market, when you look at crypto, last eighteen to twenty-four months, there's a lot of people who've done quite well. And I think we're also aware that there are millions of people who have not been so fortunate. And so I think, you know, Alejandro and myself, as well as a number of other people, have been looking for ways to not just talk about helping people, but actually build something that actually does help people.

• 9:27Speaker 02

  But make no mistake, philanthropy is a huge piece of the economy. I mean, Americans are famously generous when it comes to charity. I think that in 2020, for example, I think it was 471 billion went to charity. 334 billion of that came from individuals. I mean, you're talking about over 2% of GDP in the US. I think all of agriculture is less than 1%. So this is actually a very big sector. And it's somewhat of a mystery why you don't see more large platform companies in this area. And so when Alejandro and I were thinking about different products and services to bring to market, we thought about the different trends that we thought were going to be guiding fintech over the next five years.

• 10:07Speaker 02

  And we said, hey, why can't we take all this great innovation that's been helping people save, that's helping people spend? Why can't we use the same types of features to help people give? And that was really where Daffy was born.

• 10:20Anthony Pompliano?

  Got it. And so when you start to think about the experience for the everyday user, like, what is it? If they come and they start to use the product, what do they actually do on a day-to-day basis? And why is that something that you think is good for them or why they should do it?

• 10:35Speaker 02

  Well, the basic insight behind Daffy is actually really quite simple. It's almost an old-fashioned, something your grandmother taught you type of thing. Listen, no matter what's going on in your life, good, bad, ugly, there are people less fortunate than yourself, right? And it's almost, it's almost a biblical idea, the idea that you should always be putting something aside for those less fortunate than yourself. And so, look, the behavioral finance research is very clear. I mean, if you had to write a check every time that you wanted to save money for retirement, people would rarely write that check, right? We, we know that automatically withdrawing money, putting it in a 401k, automatically saving is one of the best ways to save. And so Daffy actually works the same way, just with giving.

• 11:18Speaker 02

  We ask this deceptively simple question upfront, which is simply like, how much? Do you want to give to charity this year? You know, do you have a number? We we call it the giving goal. And then we ask you to take a pledge, which is like, hey, I'm gonna put aside a little bit of money every week or every month. Automatically comes out of your bank account. Um, and put it in a donor advice fund, put it in an account for charity. Um, you get the tax deduction right away for making the contribution. The money's invested. We have nine different portfolios. Um, built of either ETFs, or we have also pure crypto portfolios. Um, and then when you're ready to give, you have this incredible mobile app with you and just with a few taps, you can give to any of over one and a half million charities across the US.

• 11:59Anthony Pompliano?

  So I think this is really important. Let's break down what a donor advised fund is, because I think a lot of people probably don't know what that exactly is. Um, and uh, I will describe maybe at the most high level, basic way of I take money today. I put it into a dedicated entity or vehicle called a donor advised fund. That money has not been actually given to a charity yet. It sits there. There's a tax write-off for it in the beginning. Uh, but it can be invested. It can be grown. And so if I put a dollar in today, it grows to $2. At some point in the future, I can actually give away $2 rather than $1. But I've I've basically earmarked that for charitable giving in this specific entity. Um, i- is that kind of a fair way to describe how these donor advised funds work?

• 12:44Speaker 02

  Yeah, I think that that's the basics. Um, there's a little bit of detail. It's important, but I think a donor advised fund is just a special account, just the way that an IRA is a special account for retirement or a 529 is a special account for saving for college. Um, it turns out giving to charity is actually a pretty hard problem. When I look at it as a product perspective, um, you first have to figure out how much you can afford to give, and that's a hard problem for people. And then the second problem is who to give it to. And the beauty of a donor advised fund is you can separate those two problems, right? You can put money aside for charity, have it invested, it grows. Um, and then when you figure out who to give it to, you can. Uh, now you mentioned taxes. That's certainly one of the reasons that I think it's been a very popular account with the wealthy. I mean, there's now

• 13:30Speaker 02

  I think close to a million donor advised funds in the US. And the reason it's popular is because, look, taxes run on the calendar year, right? And that's not always opportune for when you want to give. And so by putting money in a donor advised fund, donor advised funds like DAFI are actually nonprofits themselves, right? We're a 501(c)(3) not-for-profit organization. So when you put money in the donor advised fund, you get that tax deduction immediately in the year you make the contribution. And then you have a flexible amount of time to to give to organizations that need it.

• 14:03Anthony Pompliano?

  Got it. And so how do you think about the money that sits in the donor advised fund, investing it? You mentioned there's a couple of different vehicles. And for those that may not be as familiar, this is exactly what happens at endowments or private foundations and other types of organizations where basically there's money contributed. It's then held in the kind of a special tax status. It can be invested and grown for some period of time and then eventually gets given away. And it's a way to kind of give away more money over time. But but how do you all think about actually investing those funds? So if I go and I put 20 bucks a week or whatever into this donor advised fund, what are you all doing with it? And how much control do I have over where it actually gets invested?

• 14:42Speaker 02

  Yeah, it's similar to a lot of the automatic investment services out there. We try to be flexible. Different people have different opinions about where they want to see their money invested. And so we have three types of portfolios right now. We launched with standard ETF portfolios provided by Vanguard ETFs. So standard mixes of stocks and bonds, domestic, global, etc. Very low cost, only about four basis points on average for that portfolio. We also offer ESG portfolios from using BlackRock ETFs for people who want to align their investments, especially folks interested in charity, sometimes want to make sure their investments are aligned with their values. And then, of course, what's been amazingly popular have been our crypto portfolios.

• 15:22Speaker 02

  We offer a diversified portfolio with a product from Bitwise Investments, where I'm also an advisor. And then we also offer two pure crypto portfolios, one that's a Bitcoin Ethereum split, roughly market cap weighted, and then a pure Bitcoin portfolio for those who really Really just believe in Bitcoin.

• 15:40Anthony Pompliano?

  Got it. And so when you think about this, I think you guys actually started first with crypto as like the donation component. So it feels like you have this like crypto DNA. What are you seeing either from a contributions of crypto or the investments into crypto in the donor advice fund? What are you seeing from the actual users? And do you have any stats or just even like kind of trend lines in terms of how popular crypto is with your user base?

• 16:05Speaker 02

  Yeah, I'm very happy to share it. And I'm flattered. I don't know if I can claim to have pure crypto DNA, but have been excited about crypto since about 2012. And so very, it seemed natural to make sure it was included. I mean, for us at Daffy, the idea is to make it easy to get. And the fact is crypto is easy to get, right? You can download our app. If you want to contribute crypto, we now support over 120 different coins. Basically, everything Coinbase supports. Coinbase Ventures is an investor in Daffy. And fundamentally, you just download this app. We gave you a temporary wallet address. You send the crypto in and you get an immediate tax credit for that. And like you said, we had it at launch, but we were shocked at how many people were being generous with crypto. Some of

• 16:50Speaker 02

  our biggest contributions, in fact, our biggest contribution to date has been a crypto contribution. And it's not really surprising. I mean, let's be clear for folks who are watching or listening. Donating crypto is a fantastic thing to do, not just from kind of a moral standpoint in terms of how much good you can do for organizations, but also from a tax perspective. When you donate crypto, you never have to pay the capital gains taxes, which is a big benefit, right? Especially if you've been holding coins for a long time. And then, of course, you know, charitable deduction is one of the best income tax deductions you have, up to 30% of AGI, I believe, this year.

• 17:32Speaker 02

  And that comes off off income, which is usually the highest rate. So we're not really surprised to see a lot of crypto donations. We tried to make it easy because our whole mission is to get money to organizations that need it. And if we can take some of the wealth that's been created in crypto and channel it into feeding people or helping people or getting people more education, etc. Then, you know, so be it. That's fantastic.

• 17:54Anthony Pompliano?

  Yeah, it's, um, it is pretty crazy when people start to understand the tax code, charitable giving and the advantages and also disadvantages that come from all the complexity. But it's one of the things we spend a lot of time talking about of just like, you know, billionaires who everyone loves to yell and scream at for a lot of the tax code leverage that they that they have. They have the same tax code as everybody else, right? But understanding it is really important. And there are certain things you can do. Owning a company puts you in a different position than as an individual. Using charitable components of the tax code puts you in a different position, etc. But it really is kind of an education gap. And if we can get more and more people educated on how this stuff works, it actually leads to people understanding what they can do.

• 18:37Anthony Pompliano?

  And so how do you think about, from an education standpoint, really helping people understand what, you know, on the face just seems super complex, right? Taxes and nobody likes doing it. Everyone feels like, oh, my God, this is crazy. We start thinking about charitable donations. A lot of people think about doing good in the world, but not necessarily what the potential tax implications are. What are you guys doing there to help on the education front?

• 18:59Speaker 02

  Well, look, I think you're right. I mean, we obviously, we try to write about this and share the information. Even as you mentioned earlier, most people have never heard of a donor advice fund, right? If you don't have a high end financial advisor or accountant, you've probably never had someone whispering in your ear saying, hey, you actually had a big liquidity event this year. You had a big stock gain, a big gain in crypto. You should consider a donor advice fund. And so probably the biggest thing that we're doing is just putting the product out there. I mean, I was shocked to find out when we started Daffy that there was no donor advice fund in the App Store. I mean, the App Store is not new, right? This has been more than a decade. Like you said, there's hundreds of financial apps for almost everything you want to do. But if you wanted to open up a donor advice fund, contribute money, invest it and then donate to charity,

• 19:44Speaker 02

  there was no app that did those simple things in the App Store. Actually, Daffy was the first one. And so I think the biggest thing that we're doing is just putting the app out there. I think the second thing we're trying to do is help people educate each other, right? So when you join Daffy, of course, just like a lot of fintech apps, you get a profile, you get a username, etc. And you can refer other people in now with some, you know, financial applications that just means more money for you. With Daffy, what we've done is made it that when you invite someone else to Daffy, they get $25 to donate to whichever charity they support. Which we found is actually an excellent motivator and it gets people into the product using it. I don't know if it's so important that people know what a donor advised fund is or the specifics of the tax code exactly.

• 20:27Speaker 02

  I think that some of our job in building these products and services is just to make it simple and transparent what's going on and people learn along the way. But I agree with you. Financial education is a big passion of mine. It's something I spend time teaching in my spare time. Now at Stanford, and I think that building products and services is one way that we really help bring this information, this understanding to people in a way that already works, right? They don't have to figure it out themselves. They just have to use the product.

• 20:55Speaker 03

  Yeah, absolutely. Joe, John, what questions do you guys have? Adam, so my question would just be around like if you could talk to how people are actually using the product, right? How many people not only have signed up and stuff, but how much they're contributing, how long the accounts go on for before they actually donate the funds and so on?

• 21:10Speaker 02

  Yeah, so this has been a big hot topic in the industry with donor advised funds because it's like, well, is the money actually getting to the organizations and we, we set up Daffy specifically to help people give, right? So right from the very first moment you start, you are picking out charities that you support. And we try to do things like recurring donations and other mechanisms to almost make it automatic to get the money out. And our donor agreement does estimate a target for folks of giving at least 10% of the account every year. That's the goal that we set for folks. But in general, the biggest thing I think that we've done to try and make it to support giving is we actually changed our business model.

• 21:50Speaker 02

  I mean, the terrible thing about most of the existing donor advised funds, so you don't have to be so sympathetic to the billionaires quite yet. Is that they actually charge fees based on the percent of assets that you have under management, right? An AUM fee. Now, this is very standard in the investment world, right? Most funds charge based on percent of assets. But when it comes to giving, it creates this real dilemma, right? If you have a $100,000 donor advised fund and you give away $20,000. These old school providers. Lose 20% of their revenue, right? So they're not really incented to have you give the money away. Daffy, because it's membership based, is ambivalent. Like, we're happy to have you

• 22:32Speaker 02

  put money in, give money out, as long as you stay a member of the Daffy community. Daffy is very happy to see you there. And so we're trying to do a lot of things to push money out that frankly haven't been done with traditional donor advised funds, because we think our incentives are a little bit more aligned.

• 22:47Anthony Pompliano?

  Yeah, Adam, thank you for joining us. Can you talk about some of the pain points people have like run into using this kind of service? Or is it all all smooth sailing?

• 22:56Speaker 02

  Well, I think that, you know, the biggest pain point that people run into is what we were talking about earlier is that people don't know that donor advised funds exist, right? So if you're not a multimillionaire with a financial advisor, you haven't heard of this thing. I mean, you have to admit, it sounds a little bit like magic, right? This idea of like, you know, let's say, like last December, you know, you're feeling good about some of your gains in crypto. You realize the tax year is coming to a close and you want to donate some Bitcoin to charity. But at the same time, it's already December. Do you know which charity to give it to? Do you even know a charity that can take crypto? I mean, some can, but you know, our second donation in the history of Daffy was actually someone giving to an Orthodox synagogue who and that Orthodox synagogue, of course, didn't know how to take crypto.

• 23:42Speaker 02

  But the the member figured, oh, I just download Daffy, right? Contribute the Bitcoin to Daffy and then Daffy gets the money to the synagogue and then kind of everyone wins. And so I think that for most people, it's really realizing that it could be this simple. But I'll tell you personally, you know, I walk around having an app in my pocket. I ran into a minister from Oakland who was actually fundraising out here in town in Los Altos. Talked to him for a few minutes, love the cause, didn't want to buy the bake sale since trying to keep the pounds off this year, a little bit more travel post pandemic. But fundamentally, wanted to make sure I supported the organization. The fact that I can whip out this app and in three taps, kind of find his organization,

• 24:24Speaker 02

  give them money, support their cause was just, it's just a wonderful feeling. It turns out being able to give easily is a good thing. It's a better way to live. And so that's a lot of what we focused on. With the product and service.

• 24:37Anthony Pompliano?

  Gotcha. Adam, when you think about kind of building the team for something like this, where are you finding the talent to to help you build it? Are they coming from kind of the more legacy technology side, the finance side, the crypto community, a mixture? How are you thinking about building the team?

• 24:55Speaker 02

  Well, all of the above. I mean, this is one of the exciting things about this boom in remote work, etc., is that we've been able to pull talent from a lot of different places. So we do have headquarters here in Silicon Valley, and we have a number of people who've worked at companies like Google and Twitter. Of course, we like to hire some of the best technologists we can. We also have people from finance. You know, our new head of our donor advised fund platform came from 12 and a half years working at Schwab Charitable, right inside the industry. And then my co-founder, Alejandro, actually comes from Argentina. He was actually my favorite engineer to work with at LinkedIn back in the day. And we had been thinking about starting a company together for years. And so we've even been able to hire a number of incredibly talented designers and engineers outside the country, all working

• 25:40Speaker 02

  together to kind of build this app and this service. It's been phenomenal.

• 25:43Anthony Pompliano?

  Yeah, it's awesome. I love this. This feels like one of those things that whether people are users, investors, or just fans of it, it's good for the world, it's good for, you know, kind of positive impact. And it's taking something that already exists and just making it more mainstream. It's reducing the friction and access or increasing access and reducing friction, which usually leads to to pretty incredible opportunities. So it's awesome to see you doing this. One last question I have for you is, as one of our partners on the show is Eight Sleep. And normally, we ask people what their sleep routine is and all of that. But one of the things that you're going through right now is you're building an early stage startup, which regardless of how many times you've

• 26:25Anthony Pompliano?

  done it, no matter how many you've invested in, it's hard, there's ups, downs, sometimes in the same day, lots of stress, lots of positives and negatives. How has your sleep changed over, let's say, the last two or three years? Obviously, we had the pandemic in there, you started the business, etc. Like, how is your sleep routine? Or quality changed over time?

• 26:46Speaker 02

  You know, it's a good question, of course, and staying healthy is important. Exercise, the way you eat, etc. I think everyone knows that you can't just push all the time, right? Like you have to stay in a healthy zone. The pandemic changed routines quite a bit, but not in a bad way. My wife and I actually have a fire pit outside. We have four kids. And so there's a whole exercise of putting the kids to bed. But after the kids go to bed, we have a routine where we actually like to sit and talk about the day, sit out by the fire pit.

• 27:19Speaker 02

  If we're a little bit settled down, no screens, so we can get to bed at a reasonable hour and actually get some good sleep, because the whole routine starts in the morning. My day doesn't actually start with any other than getting the kids ready for school and then dropping them off and then heading off to try and build great products and services. So, so yeah, so that's, that's our pandemic story.

• 27:40Anthony Pompliano?

  That's awesome.

• 27:40Speaker 02

  Every night at the fire pit.

• 27:42Anthony Pompliano?

  Listen, it's, it's one of these things also what like, when you find something that works, like, don't change it, right? And like, just like, keep doing the same thing. I know people who, you know, they go on a walk, it's a fire pit. It's like, whatever the thing is, if it works, just keep doing it over and over again. So.

• 27:58Speaker 02

  Yeah, I mean, you know, it's, I think before the pandemic, you just had a lot of activity. You were going out in evenings, that sort of thing. And, you know, you feel like you never catch up on sleep, etc. But I think the pandemic, in a weird way, was a gift for families in some ways. There were so many stressful and painful things with the illness at school, etc., and the lockdowns. But at the same time, you were together. At least, at least in our family, we were together. And I think it created some better habits, frankly, that I hope stick with us the next few years.

• 28:27Anthony Pompliano?

  Yeah, I think that's right. Where can we send people to find you on the internet? Or find out more about Daffy, Downloaded, etc.?

• 28:33Speaker 02

  Yeah, try to make it as easy as possible. So of course, if you just go type Daffy into the App Store, you'll find our app. If you want to do it from your desktop, if you just go to daffy.org, click that big turquoise get started button, the upper right corner. We try to make it very easy to get going. And like I said, you can link your bank account, you can do a debit or credit card, crypto, stock, ETFs. You can even transfer money from an existing donor advice fund if you want to save money. And we try and take care of it all for you.

• 29:01Anthony Pompliano?

  All right. My last question for you, which my brothers are gonna laugh. So we're big dogs over here. We, if we want to do a lot of money, can we do it through Daffy or are there limitations to, to how much can actually go through the platform?

• 29:14Speaker 02

  Well, so, um, you know, we're new, so I appreciate you guys are big dogs.

• 29:20Anthony Pompliano?

  John's the biggest dog because I'm about to challenge them to donate some money. So that's why I want to know first.

• 29:26Speaker 02

  Yeah. So I mean, like pace yourself, you don't have to go at all at once, right? You can go, but if you want to jump in, we've already had multimillion dollar contributions and we already have accounts well over a million dollars.

• 29:37Anthony Pompliano?

  John, you in for that?

• 29:38Speaker 02

  But our minimum is only 10. So whatever, whatever works for you. But yeah, we've tried to build a robust service. Like I said, most of the people working on this have worked on fintech applications that have scaled to billions or tens of billions. I mean, Wealthfront, as you know, now has over 27 billion assets under management. So we're pretty confident in the scale that we can handle. And it's one of the reasons we use platforms like Coinbase, et cetera, so that we can handle however much you want to give. I mean, you guys, you know, make big money, you can, you can give big money. That's great.

• 30:07Anthony Pompliano?

  Right, John?

• 30:07Speaker 03

  You gotta make big money first. Maybe test out the product, you know, start with $10.

• 30:15Anthony Pompliano?

  Oh, I see. They're already, they're already walking it back.

• 30:18Speaker 02

  Hey, no, no, no, it's all good. I mean, this, I, I, in all seriousness, we, um, since we don't make money off an asset fee, since it's a straight membership fee, for us, it's, it's just more like as much as you want, fantastic. But if you just want to get started with a little, that's fantastic, too. You know, Vanguard has a $25,000 minimum on these accounts and they charge 60 bips for the whole thing. We try to make it super easy for people to just get started and keep it really inexpensive. Three bucks a month. It's not a big deal.

• 30:46Anthony Pompliano?

  Yeah, it's great. All right. Well, we'll see. We're, we're going to get some accounts rocking here and we'll see who puts the most zeros on the, on the end.

• 30:53Speaker 03

  If I do it, I'm not using.

• 30:54Anthony Pompliano?

  Using Vanguard, I'm using Daffy.

• 30:57Speaker 02

  Yeah, look, look, guys. I mean, I'm not against a little friendly competition. If you want a leaderboard, which brother gives the most, we can run that for 2022. I'm OK with it.

• 31:06Anthony Pompliano?

  That's all right. What we'll do is we'll all just be scrambling to see who's the one who gets the information the latest. So that they then can just give $1 more. The price is right. Yeah, Adam, you don't want to start that whole game. All right, buddy. Listen, thank you so much for joining us. Anyone who has not checked it out yet, daffy.org, or just go into the App Store and you can download Daffy there. Give something. Life is good. Most of us in the in the Western world, we're doing all right. Even though it seems like we're living in crazy times, it's you can always give a little bit, right? And even if it's just 10 bucks, that gets you started. So go check it out. Daffy.org or go into the App Store and search Daffy. So thanks so much, Adam. We appreciate it.

• 31:45Speaker 02

  Yeah, thank you. Thank you, guys, for having me on.

• 31:48Anthony Pompliano?

  All right, sounds good, buddy. Talk soon. 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.