Bitcoin Survives Biggest Crypto Hack In History?! | Jordi Visser

Jordi Visser is a veteran macro investor with 30+ years of experience and the author of the VisserLabs Substack. In this conversation, we break down the $6 billion Binance hack and what it means for bitcoin, the rise of AI-driven cyber attacks, Anthropic’s S-1, Microsoft’s 60,000-person buyout offer, and Eli Lilly’s record quarter. We also discuss interest rates, the AI bubble debate, and why Jordi believes bitcoin is the purest AI trade. ===================== Arch Public is an agentic trading platform that automates investment strategies across Stocks, Commodities, ETFs and Crypto. Whether you’re rotating into AI & Gold, allocating to the S&P 500, or accumulating Bitcoin, Arch Public executes your plan 24/7 without ever taking custody of your assets or funds. Sign up today at https://www.archpublic.com, and start your FREE automated trading strategy! ===================== Sleep better with Fitnexa SomniPods 3 — ultra-thin sleep earbuds built for all-night comfort. With 42dB of noise cancellation, sleep tracking, and personalized AI insights, they're designed to block out noise and help you actually rest, whether you're a side sleeper, a light sleeper, or dealing with a snoring partner. Use code POMP10 for $10 off at https://www.fitnexa.com. ===================== Today's episode is sponsored by Abra. Hold bitcoin with a plan: explore bitcoin-backed borrowing for liquidity or a BTC-denominated yield strategy managed by Abra Capital Management. Learn about options, terms, and risks at abra.com/pomp. Borrowing may trigger liquidation; investment strategies may lose principal. Paid sponsorship. Not investment advice. ===================== 0:00 - Intro0:56 - Binance $6B hack & AI cyber threats9:13 - Bitcoin volatility, tokenization & key price levels13:32 - FTX parallels: is the bottom in?21:15 - AI bubble fears vs exploding fundamentals24:15 - Microsoft’s 60,000 buyouts & labor vs capital29:11 - Anthropic S-1 & why bitcoin is the purest AI trade34:06 - Private market valuations & slow AI adoption38:41 - Eli Lilly’s record quarter48:29 - Cybersecurity stocks & Palantir49:37 - AI use cases & Silvia Legacy

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

• 0:01Speaker 00

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• 0:27Speaker 01

  It's getting chilly outside. But you know what that means?

• 0:33Speaker 01

  It's time to cozy up with Panera Bread. Let's get toasty, cheesy. Oh, hello broccoli cheddar soup in a red bowl. How about melty? Okay, Chipotle chicken ovo melt. It's dipping bread and soupy goodness season. Oh yeah, we are so back. It's Panera season. Order now.

• 0:56Speaker 02

  You don't think BlackRock is spending a lot of time on quantum and a lot of time on these particular things? Of course they are. I heard that this week at a lunch where someone had talked to BlackRock and what are they going to do in the event that you've got these quantum companies doing conferences and they're saying, yeah, we're going to be able to break into Bitcoin by 2028. They're publicly out there saying that now.

• 1:17Anthony Pompliano?

  What's going on, guys? We had a great conversation with Jordy Visser this week. In this conversation, we talked about the Binance hack and its impact on Bitcoin. We talked about AI and cybersecurity. We go through the anthropic S1. We talked about Eli Lilly hitting a brand new all time high. What's going on with Meta, Microsoft, SpaceX, and many other companies? And then Jordy walks us through what is he looking forward to into the end of the year? How's he thinking about the macro factors like interest rates, oil and other, and how it's impacting his portfolio? And then we even talk about at the end, some of the use cases of AI that we discovered this week and how we're putting this technology to work and how it may change your life or your portfolio. Here's my latest conversation with Jordy Visser. All right, Jordy, happy Halloween. I thought you were going to come in here in a costume dressed as Eli Lilly himself.

• 1:58Anthony Pompliano?

  You know, you just came in as a smart, intelligent economist slash manager of capital. I appreciate you being here.

• 2:07Speaker 02

  Here to spread joy.

• 2:08Anthony Pompliano?

  Amazing. Binance got hacked for $6 billion. Let's get right into the really serious stuff. The rumors are that North Korea could be involved. I'm sure that AI cybersecurity concerns are going to be jacked up. Bitcoin sold off about 5% or so. And Binance is saying that they are going to backstop all losses by users on the platform. What's your general take away from a situation like this?

• 2:33Speaker 02

  This is, unfortunately, this is a story I've heard multiple times, not of this size, but the amount of hackings that are going on from AI. And this is the, the reality of the world we're going to live in with artificial intelligence for a long, long time. I have friends that have told me about their businesses being hacked, where they've had to reboot the business, where it's not, it's not just coins. And again, I'm speaking specifically in crypto, but I remember when I did Freedom Tech last month. And when I was originally talking to some of the people there, this has been going on, I would say really since the June period where we've been having problems. You've seen it with companies too.

• 3:17Speaker 02

  I mean, I think Revolut had something go on, an apparel company. Yesterday, you've had healthcare companies that have gone through this. So rather than focus this on kind of its crypto related, when you go through the story of what happened and you read it again, humans are exposed to artificial intelligence and to agents cracking into things. So if this was, as I've seen reported, going through an engineer's laptop and then kind of going from there, we're just at this point where the attacks are on. And the one thing about crypto that makes it easier than a bank

• 3:59Speaker 02

  from the application side is that obviously you get in and then the money's just, it's moving. I think the more interesting story with this will be how much got frozen, how much they find, how much law enforcement gets involved, what the story is there. But at the end of the day, I don't see this as anything more than another fear factor that starts with AI agents. But most of the things that I've heard from people in the last month are fears on quantum. And so I think when people kind of get into Binance and well, what's going to happen with quantum? It obviously is going to force people to take some risk off in the space for a period of time until we get the next catalyst on the upside.

• 4:38Anthony Pompliano?

  Now, it is definitely spooky season. I have my Halloween sweater here, dad tax, anyone knows.

• 4:46Speaker 02

  Kids are very proud of it.

• 4:47Anthony Pompliano?

  They're going to learn something this weekend. But the reason I call it spooky season is because people are definitely worried about this stuff. Right? And the cybersecurity. Now I want to talk about this from two different angles. The first is if this had happened 10 years ago in the crypto industry, Bitcoin would have sold off 20 to 40% in my opinion. It sold off 5%. That actually seems in a weird way bullish that you could have a $6 billion hack. I saw somebody describe it online as the greatest robbery in human history. When has $6 billion ever been stolen before? And so that is, the magnitude of this is almost gets like washed away. We forget how much money $6 billion is. Bitcoin only sold off 5%. That seems bullish. The second piece of it though, is Binance steps in and says, we are going to backstop any losses to users.

• 5:32Anthony Pompliano?

  So you immediately reinstill confidence in the platform. And in a weird way, it's a great marketing campaign because the people start saying, hey, this is why I want to use Binance is because if there's ever an issue, they're going to backstop this. But they're not going to have to cover $6 billion because the stablecoin providers almost immediately froze a ton of funds. There's multiple billions of dollars that got frozen by Tether, Circle, World Liberty, Financial, et cetera. And so in a weird way, the like hardcore crypto ethos of these bearer assets that you control, that no one could, you know, kind of take from you or do anything, it's changing. When a hack used to happen, it was kind of like, hey, either you got hacked or you didn't. In a pursuit of this like safety net and instilling confidence,

• 6:17Anthony Pompliano?

  we're giving up a little bit of the crypto hardcore ethos, which means like the ETFs, do they become more popular? Like, what are the ramifications of maybe the crypto, you know, hardcore becoming a little less or a little more soft? And now these backstops being in place?

• 6:35Speaker 02

  So I'm going to go, I'm going to take what you said, but I'm going to take it a little bit of a different direction. So when you make a joke or this is bullish, the reaction is, is there. So let's put two things in the context. Number one, we had Google down 13%. Okay, Google, much bigger than Bitcoin. Not, not, not as much bigger, but it is bigger. I only bring that up because when you can have Intel down 25%, when you can have Google down 13, 14% and especially Google, multi-trillion dollar company. I think the move in Bitcoin, when you normalize it for what's happening in the biggest assets in the world, let's go to the flip side. I mean, Eli Lilly's up 10% in two days. That's a trillion dollar company.

• 7:20Speaker 02

  So I think people are just going to have to get used to the fact that the reason that Bitcoin isn't moving as much as it did before is because volatility is just much lower and it's been lower than, than, than AI names all year. But let's go back to the general thing. I can remember in 1999, coming back from Brazil. This may sound funny to people, but the NASDAQ had all kinds of issues that were going on. And the NASDAQ was very similar to the crypto market. The electronic trading side, I mean, there was the NASDAQ and the New York Stock Exchange. Now they're both electronic, but back then it was a very different world. And there were all kinds of issues that would happen on the NASDAQ because it was this new system, it was electronic.

• 8:03Speaker 02

  If a lot of orders came in in a day, it would break the system. There were a whole bunch of things that came on. And I kind of equate this the same way for one element.

• 8:13Speaker 02

  We need things to happen for the system to be more trusted. My main thing now is the banks are involved with crypto. Like they're not turning around. They're involved in tokenization. They're involved in supporting Bitcoin. It was a very different world during the hackings when Jamie Dimon was saying this was garbage and you'd never be involved. They all have skin in the game now. They're promoting it to their customers. That means that they care about the security and they care to know what happened. That's the way that in the long term, issues like this become bullish because we, there has to be a plan in place to deal with these types of things and make it clear. So when you mention the ETFs, you don't think BlackRock is spending a lot of time on quantum and a lot of time on these particular things? Of course they are.

• 8:58Speaker 02

  I heard that this week at a lunch where someone had talked to BlackRock and what are they going to do in the event that you've got these quantum companies doing conferences and they're saying, yeah, we're going to be able to break into Bitcoin by 2028. They're publicly out there saying that now. I know they want to raise capital because they need a lot of capital to get to the hardware necessary to do that. But regardless, I think this speeds up people thinking about it. And if there's been one negative with inside, I think crypto and let's say Bitcoin, the last four years probably was more about recovery from what happened in 2021, 2022, and not a lot of focus on how do we deal with the security issues going forward from quantum and AI.

• 9:42Speaker 02

  I think issues like this actually speed up the need for it. And I think the fact that the banks are involved and you've got people with skin in the game that actually have, they have fiduciary responsibilities. There's a big difference between JP Morgan and Binance, but when they're both involved in the same area and they're kind of promoting it from an investment standpoint, I think everyone has to come together. So I'm going to take the side that this is just a normal maturation process of a new technology that's going through the headaches and that these things can't happen. So we're going to have to find other, other ways to deal with this.

• 10:09Anthony Pompliano?

  If the volatility on the downside related to a hack like this is so muted, are you worried about the upside volatility in a bull market being more muted as well?

• 10:21Speaker 02

  No, because again, my, my primary thing from the bull side of this, nobody owns it. And I mean, I can say this a million times over, but aside from, you know, the, the subscribers you have, some of the subscribers I have, institutional people and wealthy people are just not involved in the space. And again, I've talked about this, that the only time that I think the true massive bull market occurs, number one, the technology happens and fundamentals are driving it. That's what will be next year's business. Tokenization just continues to move forward. You had a DTCC announcement this week. It, tokenization is going to happen. That will lead to more fundamentals in the space. Second thing is

• 11:03Speaker 02

  what Stripe is seeing with the agentic commerce side is only going to grow from here. It's not even a question. The question is how fast will it grow and when will we start seeing the numbers? And I've learned this with AI. Don't underestimate how fast this can happen if it's in a world where businesses can run it and then competition just keeps coming from it because the deflationary pressures from these businesses that adopt it are going to be there. So I think on that front, this has been for me about innovation and technology and the combination of AI and fundamentals. And that's what I think the beginning stuff of crypto is. If we learned anything with AI over the last, whatever years, you can't wait for the data to be good. We're kind of going through that with the AI trade. When the data really started being good, meaning when we started seeing

• 11:45Speaker 02

  the earnings, these names were already up 500%, 1,000%. And now they've gone sideways for a period of four months with all kinds of ups and downs. And I think crypto is going to go through the same thing. I will say one more thing on this for people as we go through it. We had a very large rally from 59,000 in Bitcoin up to around the, you know, 87, 88 area. I think going back and testing the 200 day moving average, which is what we're going to end up doing, I'm sure, and maybe even pierce below it a little bit.

• 12:12Anthony Pompliano?

  Where's that?

• 12:12Speaker 02

  73 to 74. Um, we almost got there overnight. Uh, I don't think people should just sit there and think that, okay, everything is fine. We went through the hacking. We're going to turn back up. This has been very correlated over the past month and a half to the AI trade. And whether people accept that or not, a chart of semiconductors now in Bitcoin has been one for one for the most part. The other point of this, which I brought up in a video this week is a index of oil and tenure rates has also been correlated to it. So I think we've been going through, as I keep saying in my weekly, weekend videos, it's been a horrible trading environment from anyone who's trying to sustain moves

• 12:53Speaker 02

  for longer than say a month and a half. You had to make your money in a very small window this year in the first half of the year. And then since then, it's been a lot of back and forth and just a lot of mud. And that's in all the major assets. Uh, I, I think we're still in it until we get a catalyst. There may be a catalyst next week with quarterly refunding announcement, but other than that, I think we're just kind of grinding through.

• 13:15Anthony Pompliano?

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• 13:58Anthony Pompliano?

  the room, I can use them to reduce what's actually keeping me awake. But reducing the noise only helps if I can actually sleep in them. And I don't want to wear some bulky earbud that's pressing into my pillow or becoming the next thing that keeps me awake. SomniPods 3 are ultra thin, so I turn onto my side and I'm not figuring out how to deal with earbuds all night long. These come with a 30 night trial. So go over to fitnexa.com and use code POMP10 to get $10 off your first order. That's fitnexa.com, use code POMP10. Let's get to the mud in one second. But one, one other aspect that I think is interesting, four years ago, almost to the week, was the FTX collapse. 2022, it was in November.

• 14:41Anthony Pompliano?

  There's midterms. There's a lot of similarities. That was the final puke down to, you know, 15, $16,000, marked the bottom of the bear market, and then we went up from there. It does feel like, although most people think that we bottomed, and I probably think we did as well, it's kind of like in a firefight, you know that the other guy's got X number of bullets. He's got 10 bullets. He shot eight of them. He had two left. The hack was number nine. He's still got one left, which is probably the midterms. And then once he fires that last bullet, you're kind of like, all right, man, you don't got anything left. I can come, you know, here we go. If that is true, then actually we are, I don't know,

• 15:21Anthony Pompliano?

  a week away from all of this noise, uncertainty, mud, et cetera. Kind of just, okay, we've set in the foundation to leg up higher. Would you buy into that thesis? Or are you still a little more cautious?

• 15:35Speaker 02

  I'm, so I had not, except for a small micron purchase during July or August, whenever, but during the, the, the situation, awareness situation. Um, in the last week, week and a half, I've made purchases in AI names three or four times, three or four days, uh, only into panic, which again, luckily we keep getting them. But the reason is because a lot of things happened, um, this week. Last week felt like panic to me on Thursday, which is why I, I went in. But this week, first of all, Anthropic released their S1.

• 16:18Speaker 02

  Uh, it was definitely better than what people feared and you could kind of read through it and get to more than 100 billion if you want to in terms of AR, assuming you make the leap that based on what they put in there, they're going to be telling you that the October numbers since Opus 5.5 went up. But regardless, that is out of the way. So people have been worried about what Anthropic would be. Now we have to get through the IPO, but again, that's coming soon. Oracle had an investor day. This might be the most important news point that no one seemed to mention or care about. If you ask me when the mud started, and again, for anyone who's trading, we've been in mud since September of last year, meaning every time you go up, you come back down. Every time you go up, you go back

• 17:03Speaker 02

  down. It's been in a grinding bull market, but a very, very difficult, painful one. You just look at the Nvidia chart. September of last year is when the capital raise effectively started. And the reason I say that is because Oracle made their highs on this massive day where they had massive RPOs, which is basically what the hyperscalers have as well. Meaning we have these orders that we're going to get in the future. The reason Oracle's so important and is not mentioned is this week in their investor day, they laid out, hey, we're not going to have to raise much money between now and 2030. Now that may not mean much to people, but Oracle's raised over $60 billion since that September last year.

• 17:47Speaker 02

  People have questioned them. Their debt was the first one to be an issue. Their CDS started widening out, and this is when the mud started. So for everyone who's trying to find like, when is this going to end? I actually think the capital raise has been a huge part, but not the capital raise in general, because the AI capital raise is going to happen, but it's been very concentrated with basically five names. And they've come to the market for a lot of debt. Most of that debt was Q4 of last year, Q1 of this year, Q2, Q3, Q1, Q2, Q3 were actually declining in terms of going to the public markets. Um, you still have some going on. Microsoft did some this week. Uh, SpaceX did, but SpaceX did it with,

• 18:29Speaker 02

  through the private markets, through Apollo and an SPV. Very different. And there's a lot of powder there. So we've had this concentrated capital raise where I've calculated the numbers. You've done over a trillion dollars this year between equity and debt. That has been one of the mud issues. And I think that has been the major issue with the rates moving higher. So now you have tenure rates, which have moved down this week as well. Remember how much everyone was worried about tenure rates? Remember how much everyone was worried about breath? Equal weight S and P has ripped higher. In fact, this month, people won't realize this, but as we sit here, the S and P is about flat for the month again.

• 19:07Speaker 02

  But I think nine of the 11 sectors are up. And as I looked yesterday, this is before this morning, but I still think it's going to be good. 350 of the S and P 500 names, 350 of 500, that's 70%, were up at least 2% for the month. Only 70 were down 2%. That's a five to one ratio. And that means that in a, in a period where we're worried about breadth, where we're worried about rates, rates started to come down and what happened? The names that were getting hit because rates were going higher came back down. I bring all this up because you know what's rolling off next year? And I'll show all this this weekend. You're going to get the tariff stuff, which is going to roll off. So all of the rate hikes that were part of the PCE and part of, in general, Goldman has put this out saying

• 19:49Speaker 02

  they expect about 100 basis point drop in PCE core next year purely because of the base effects. DRAM prices have already rolled over, not in a nominal basis, but on a year over year basis. The second derivative, which is what inflation is, has rolled over. You're going to have gas at the pump. It's going to be the exact same thing, meaning we had a huge spike in oil. We're at the same price in oil right now that we were, I think, in March. So every day that passes into March, unless we get a spike higher in crude. If crude were to go down at any point, you're going to have that flow through. The only reason I bring that up is this year has been about real rates going higher because inflation breakevens and swaps have, I mean, they're effectively at 2.5%. We have 10 year rates up close to five, which means there's 250 basis points of real 10 year yields.

• 20:33Speaker 02

  That has been a major drag on crypto. It's been a major drag on gold. It's been a major drag on silver. It's been a major drag, I think, on the entire AI trade. And the irony is it gets back to Oracle because the amount of debt that these guys have needed competes with the treasury. So I'll finish this little monologue off with the quarterly refunding announcement. This is not getting a ton of press and we'll find out about it on, on November 4th. So next week. There has been speculation by credible people and Citibank also talked about this as well, that they could cancel supply. They've already done buybacks. That didn't work. If they cancel supply at the long end and move everything to the front end,

• 21:18Speaker 02

  it's not yield curve control, but it is certainly an admission that they don't want the long end to go higher. And regardless of whether it's because of affordability issues for housing, because you've seen 30 year mortgage rates go up 100 basis points since March, or it's competing with AI. And we just saw Kevin Warsh talk about the fact that it seems like the AI trade was moving spreads wider. We've seen spreads widen. So I think there may be this effort to really try to bring long-term yields down and continue to do it. And if we were to see a reaction for a day, we're already below the 50 day moving average for the first time in a while in 10 year yields. That could be the catalyst right there and you'd have all those events going on.

• 21:59Speaker 02

  So I'm getting more positive because I'm looking through this and thinking the holiday season is about to take over. I'm not worried about a bubble. So I'm believing that over the next six months, even if it's mud, you're getting good entry points right here.

• 22:11Anthony Pompliano?

  It always strikes me as when people have quote unquote bubble concerns, when things start to trade down, they think that means that it's going, the bubble's bursting. It's going to zero. You know, it's going to be a 50% drawdown. But actually what you want to see is you want to see fundamentals like revenue, profits, EPS, et cetera, all increasing and positive, beating expectations, which we're seeing. At the same time that you want to see valuations cooling off, which is kind of this like cool off during a bull market. That's actually when you should be most excited, right? Because the fundamentals should provide some sort of floor where that cooled off valuation, to your point, is like an entry price that is more attractive than if you didn't have the cooling off period.

• 22:56Anthony Pompliano?

  But the business themselves, I mean, SpaceX's revenue, they reported 160% year over year growth in their revenue. That is just mind boggling. We are talking about Microsoft. They have 60,000 people that they have basically said, do you want to take a buyout of your contract? My guess is that 60,000 number is not a number they just like licked their finger and stuck in the air and came up with 60,000. It probably correlates to some sort of investment they're making around AI infrastructure, something. And they're offsetting, if we make these investments, but we have these 60,000 people, AI can make up the gap from a productivity standpoint.

• 23:38Anthony Pompliano?

  And we're going to be closer to kind of a, a neutral impact to our financials. And then you look at Anthropic's S1, exploding growth. I mean, we could go through, I, I have a ton of these that we could go through. And you sit there and you say, what are people worried about? What, what, the fundamentals are telling you, this is one of the greatest, you know, kind of economic booms for a capitalist society, probably in human history. And people are literally talking about bubbles.

• 24:11Speaker 02

  So first of all, X has a huge part of this. As someone who looks for news stories to cover, there, there is no middle rational line. Like in my head, I, I have no problem being bearish on things. If I see something, I mean, I talked about the AM mid-cycle slowdown. And if we go back and pull all of the things that I was talking about in, in March and April, but also in, I want to say a year ago today, I was talking about how tech is going to have issues outside of the AI trade. And we've gone through that Salesforce.com is still down for the year. Now is down big. The soft, the true SaaS names have had a bad year.

• 24:56Speaker 02

  The hyperscalers, I mean, as of yesterday, this is before what will happen today with Amazon. The four equal weight or the four hyperscalers, it was flat for the year as a group. One of them was up 9% Microsoft. I do want to expand on the Microsoft thing because I think it's important for people to hear this because this is a, a very important story, which I won't get into it. I've talked about this a couple of times in, in interviews recently. The Microsoft news does not get enough press. 60,000 people is 27% of their employees, 27%. Now.

• 25:33Anthony Pompliano?

  Is that a lot?

• 25:35Speaker 02

  Well, to put, to put it in perspective, I mean, when you have 223,000 people and you're saying, okay, 60,000, you can take a buyout. Now, they obviously don't expect all of them to do it. They did this once before, but they did it with 8,000. 60,000 is a big number. And what do you think those 60,000 people that have been offered the buyout? Are they like feel secure in their job going forward? Or was this a message that this is our hope? Now you said, are they using this for money? I mean, I've run a business. I, I know what micro, like you can go through their compensation. So let's assume it's $400,000 a person when you added healthcare at Microsoft. That's $24 billion.

• 26:19Speaker 02

  Not 24 billion for one year. That's every year going forward, unless they go hire more people. That number, if they all took it, would take them back to 2020 levels. Their revenue has grown, will have grown 70% if they just meet numbers into next year. So revenue per employee has gone through the roof. So this has a lot of issues to the government. And this is why it's positive Bitcoin. That's why I wrote a Substack about this whole thing, comparing what Microsoft was doing to what was happening in France, where the common thread is going to be affordability. Because on the one side, what do employees making 400,000 have to pay in taxes? 50%, 50% plus, depending on where they live. What does Microsoft pay on corporate taxes?

• 27:04Speaker 02

  There's an arbitrage here that's becoming a bigger story to the government because if Microsoft doesn't have to pay the same amount, you're, you're losing receipts from this. If people don't get jobs or if they end up taking less of a job, whatever the case is. I think this is becoming a labor versus capital story that is much, much bigger than people realize because we're just entering the productivity boom. That's the other message that Microsoft is saying is they believe they can do this buyout at five to six or six to seven times the last one? What is that saying about their expectations about what AI is going to enable their business to be like in the future?

• 27:43Anthony Pompliano?

  Listen, I can, I can talk about this from a personal perspective because we just went through this with our own public company. We have done two things. The massive cost cutting exercise, compute costs down substantially. Compute costs literally, I, I've talked about publicly, $550,000 in March of 2026. Per month.

• 28:04Speaker 02

  Yep.

• 28:06Anthony Pompliano?

  Down now 50%, give or take. My hope is, hope that we're actually going to be able to get completely off the frontier models, run everything on our own software and models and hardware. If we do that, 97% cost savings on a token for token processing. Massive cost savings. Going to all of our key vendors, finance, accounting, legal, et cetera. Hey, we, we got to do something here. I know you guys are using the technology, so are we. Let's reorient here, okay? We mutually separated with some of our executives. Cost savings there as well. So you take basically the, you know, the most well-paid people at the company. And you're like, hey, can we do this for cheaper?

• 28:50Anthony Pompliano?

  Look at that, what we publicly said is we think we're going to save $10 million between cash equity, et cetera, in this whole exercise. Okay. But that's actually to me, what people will pay attention to is because it's like a headline. The more important thing is we have a public company, there's 10 people there. I'm not claiming we're Facebook, I'm not claiming we're whatever. But if you go and you look at the product, this week, there's five days in the work week. We launched five separate products or features, one every single day. And these are features that aren't like, hey, let me just put a prompt in Claude, you know, or something. And then you just get it, that you've got to be very thoughtful about it. You're dealing with people's sensitive financial information, et cetera. But I explain to people, think about what that means.

• 29:32Anthony Pompliano?

  If we're launching something every single day and we only have 10 total people, including the non-technical people at the company. When you extrapolate that out to a Meta, an Amazon, uh, you know, right now, actually SpaceX. If you look at the updates to Grokbot, they're releasing something like 50 to 100 new features a week. It's just you're cutting cost while that productivity is just exploding. I don't know what this looks like in two, three years. But like you start getting pretty excited about just how productive any of these companies can be, right?

• 30:07Speaker 02

  Yeah. And, and so let's bring it back to Anthropic because I think the most important news item that came through this is that Anthropic announced in their S1 that they're dealing with basically 250 of the Fortune 500 companies, so 250 of the S and P 500. But in terms of their total expenses, which again are dominated by compensation, of the Anthropic portion is point less than 1%.

• 30:36Speaker 02

  I think people have to fully grasp that if this company has this kind of momentum and they can give you insight into the adoption right now of AI. And also for everyone that thinks that they're going to be able to go build data centers and do all the stuff, which I'm hearing more and more on other podcasts, I'm like, where are they getting the memory from to go build their own data center? I mean, guys, come on, like, if the banks want to go build their own data centers, that's all well and good, but if you can't get the memory, you can't, you can buy as many GPUs as you want, you can go through this, but if you can't get the memory, where is this going to go? So I just think for, as you go through the anthropic thing and you look at it, where people talk about a bubble, they're talking about a bubble for the reasons that you said,

• 31:20Speaker 02

  oh, look, the AI trade is 20% off its highs, some of the names are 40% off their highs, whatever the case is, even though they're up 150% year to date, that's, that doesn't matter. Spreads are widening, this is going on, triple Cs are up at 16%. None of this is going away. This is the one thing I will say is as much as I believe yields are probably peaked now at the long end, do I think we're going down to 3% in 10-year yields anytime soon? No. And the main reason is because the capital needs are going to be massive and that means we're gonna have debt and the government has a lot of debt. And so the issuance alone will keep it in. Do I think that Bessein knows this and wants to control the backend? And this is one of the reasons why, if you were waiting for yield curve control, if you

• 32:05Speaker 02

  were waiting for QE, we're not getting QE the way that we used to in the past. It's coming in a different form and that form to me is starting to happen because the labor versus capital debate means a lot of voters, because you know how many votes Microsoft gets? Let's assume Microsoft has a lobbyist and they're going to Washington saying blah, blah, blah. Those 60,000 people have a vote and if affordability remains this issue, as it is across the globe, I just think part of the story for a new system, part of the story for how we're going to deal with this, and it's why I always say Bitcoin is the purest AI trade, I believe that AI is only going to intensify the downside going forward. And if people are waiting for some bull market where it just goes up in a straight fashion

• 32:50Speaker 02

  every single month, I don't think you're going to get that because of the things that we're talking about.

• 32:54Anthony Pompliano?

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• 33:39Anthony Pompliano?

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• 35:01Anthony Pompliano?

  So in the private market, Instinct went from, you know, where 500 million to 2 billion to 10 billion, now if you remember, they're raising money at 30 billion. Cognition and Ramp are both 40-plus billion, rumors coming, may even be, you know, 60, 70 billion incoming. When you see these valuations in the private market, I always go to, there's no way they're making enough money, like an Instinct, as maybe the example, dude, they're not making money in the sense of, hey, it's worth 30 billion, but the growth has to be off the charts. There was an interview that the Instinct founder did a couple of weeks ago, Patrick Rochaunacy, talked about that he was growing 10% every day.

• 35:40Speaker 02

  Yeah.

• 35:41Anthony Pompliano?

  Right? He's like, how do you buy compute?

• 35:43Speaker 02

  Yeah.

• 35:44Anthony Pompliano?

  You know, if you double your compute in a week, you're out, right?

• 35:46Speaker 02

  Yeah.

• 35:47Anthony Pompliano?

  So when you, when you think about these valuations, in a weird way, the public market valuations are actually incredibly rational compared to the private market valuations. Then you take a step back and you say to yourself, okay, I know all of the macro factors that play into this, oil, the interest rates, all this stuff that's happening. I go back to, there are more people who spend money on sports gambling in America than spend money on AI right now. You talk about Bitcoin isn't that well-adopted among wealthy people and institutions, et cetera. We are in an echo chamber of X of everyone's using AI.

• 36:29Anthony Pompliano?

  I see people creating cities for their Grokbots to run around and do all this cool stuff. I don't know, man, if you watch the local news, they're yelling about data centers, but they're not using this stuff. I heard last night, I was at a dinner and somebody said that, that a young person joined their marketing department and they were complaining that everyone was using AI. They felt like it was, you know, like in school, they are being told, don't use this stuff. How do you square that with like, if we're only 1%, 2% adopted, there's 98% of people left to go.

• 37:05Speaker 02

  I, I'm not sure that, until the, until Muse is around for a long time, there's two issues with AI that I think are, are very different than, say, Google search. One is the trust factor. I finally got the chance to meet William Mugayar yesterday and, you know, his whole book is on this concept of trust as an asset. He wants to come see you again, hasn't seen you in a long time.

• 37:34Anthony Pompliano?

  He can come sit in that seat whenever he wants.

• 37:36Speaker 02

  Okay, you hear that, William?

• 37:37Anthony Pompliano?

  Look at this guy, Jordy asking me live on the podcast.

• 37:42Speaker 02

  I'm a live agent now. I'm a big fan of William, but I'm a big fan of his concept of this issue with trust. And I think obviously people in crypto understand this part of trust. Now we have a hacking in Binance, so trust goes back down, but individuals don't trust AI either and they're not going to put their information in Muse, especially when you have hacking. So hackings equal, I don't want to trust anything. Hackings are going up constantly. So I think that means adoption is going to be very slow for individuals. I don't think they're ever going to pay for it, ever. I think they're used to having free things and I think you can use the best AI models. I mean, I know people now in my life that have used Grokbot to do some things I told them they could do.

• 38:27Speaker 02

  I didn't know you could use Grokbot without paying a lot of money for a month because I already do. I don't keep up on what's free, like what becomes free, but the models keep getting better and the free tier keeps getting better and better and better to where you can do all these things. Where it hurts is for younger people that are not embracing it, that are not using it, they are going to have trouble getting jobs. It's just a reality. There, there's no way that you can compete in today's workforce without being efficient. And if you think the company that's hiring you, you're like, oh, great, I found a company that isn't using AI that isn't forcing me to, that company's not going to be in business very long and that process is going to start. In fact, I'll go back to the triple C, triple C, so companies that are junky junk junk.

• 39:13Speaker 02

  Their cost of borrowing is now 16%. Now, some of that is the rise in 10-year rates, but a lot of that is the spread widening. 16%. That's how, if you're going to borrow money at 16%, you need to see earnings growing at some fast pace to justify that. And I know one thing, that is a really hard bogey to beat when the S and P is only up 10% or 11% year-to-date. So I don't know what people are doing.

• 39:39Anthony Pompliano?

  All right. I joked in the beginning that your Halloween costume should be Mr. Eli Lilly himself. Uh, I don't think there's actually Eli Lilly, but um, all-time highs, up 10% in two days. Uh, you sat in this seat a couple of months ago and said that one of your big bets for the AI trade was Eli Lilly. You've talked about Toon Lab. You've talked about them acquiring a lot of different companies. You've talked about them building out their own GPU, you know, kind of cluster data center, et cetera. How are you thinking about Eli Lilly today? Has anything changed in your thesis? Have you become more bullish?

• 40:15Speaker 02

  First of all, the numbers are staggering.

• 40:18Speaker 02

  I, I challenge anyone to just go into an LLM and say, hey, can you give me the earnings details from this quarter for Eli Lilly?

• 40:27Speaker 02

  I mean, you're talking about revenue growth, revenue. So to give people an idea, like, good revenue, the S and P 500 right now, revenue growth is about 12%. And that's probably where we're going to finish, which is less than it was in Q2. Eli Lilly's revenue growth year-over-year is 40%.

• 40:44Anthony Pompliano?

  20, $24.4 billion. Let me just read some of these. These are so crazy. So Eli Lilly reported revenue of $24.4 billion, up 39%. The expectation was 22.6 billion. So they outperformed expectations by $2 billion, almost 10%. Their volume grew 53%. Uh, prices are down 15%. Gross margin was 83%. Non-GAAP EPS was $7.48 against a $6.26. Uh, so they beat non-GAAP EPS by over a dollar. Pretty incredible. And uh, Munjaro brought in $10 billion, which is up 65%. And Zipbound brought in $5 billion, which was up 50%. And then they basically look at their 2026 revenue guidance rose.

• 41:29Anthony Pompliano?

  They think that it's going to be 91 to 92 billion dollars, where previously they were reporting 85 to 87. So somewhere in the ballpark of six or seven billion dollars additional revenue guidance. And uh, about, yeah. And so they're growing at, you know, $90 billion run rate. They're still growing revenue at 40% year-over-year.

• 41:49Speaker 02

  So let me give everyone, um.

• 41:52Anthony Pompliano?

  I feel like a statistician there.

• 41:54Speaker 02

  Yeah. And again, I've said that I believe in the next five years, they will become the biggest company.

• 41:59Anthony Pompliano?

  Oh, I know.

• 42:00Speaker 02

  Okay.

• 42:00Anthony Pompliano?

  I know you've said that.

• 42:01Speaker 02

  So right now they're number nine. So everyone knows, like, this is not like some outrageous thing and they're catching up to number eight and number seven very quickly here.

• 42:11Anthony Pompliano?

  Maybe we need like a science fair board and we just, every week we just move them up. Okay, where's Eli?

• 42:16Speaker 02

  They could be ahead of Meta soon. I mean, there's, it's Tesla and Meta are staring in front of them. So they're a drug company. Here's the thing I want people to think about. So Nvidia is stuck in mud. Their PE has collapsed.

• 42:30Speaker 02

  They announced 70% revenue growth. Their PE is down at 13, 12, who knows?

• 42:36Anthony Pompliano?

  Does that make you more bullish on Nvidia?

• 42:38Speaker 02

  No. And here's the reason why.

• 42:42Speaker 02

  There are two things about Eli Lilly, comparing them to Nvidia that are very different. Number one, the great thing about Eli Lilly in this world of AI infrastructure trades,

• 42:54Speaker 02

  they are making money on the healthcare problems in the United States where the spending is coming is guaranteed every year. It is non-cyclical. So they've historically, because they didn't have, these growth numbers for a pharmaceutical company are insane. Now, most of this is related to obesity. But the penetration that they've had, remember, this has been an injectable. Now they're moving to an oral. They have about 10% of people, from what I saw on the thing, diagnosed with obesity in the US. They've only penetrated 10% at this point, which means they still have a lot of room, especially with pills. The prices are going down. Their volumes are going faster than their price decline.

• 43:39Speaker 02

  You love to see that. Uh, I think they've called that Jevon's paradox. I don't really know, but as the price goes lower and more coverage happens, go. Globally, this is, that was just the US numbers, but globally, they are less than, I think, 3%. I think it's 2% of, of the global. So they still have more money from that. And that's where most of the growth is coming from. But when you go through the other areas like dementia, oncology, immunology, they've got significant revenue growth there. And what people have to understand is it's one thing to be dealing with just obesity and diabetes. It's another thing to have this growth area that is also there from all of the drug discovery that they're spending time on. That stuff is going to be down the road. I love having call options.

• 44:22Speaker 02

  If they come up with some cure on something, what happened to Moderna when they came through with something that's still up for debate? You get this massive rise because they start building in the numbers. So you have the non-cyclical, which means it's a diversification on the other things. I'm sitting here, I, I say, okay, my biggest position is X, you know, I, my biggest position was Marvell. Well, then it just fell 20%. My biggest position is now Eli Lilly because it went up 10%. Regardless, Eli Lilly has been unbelievable and all of this is happening as it's about to post its 10th positive year in a row. And this one will be another 30%. So it's been compounding in this very steady fashion on the back of the diabetes situation, but they've got a lot more call options with inside their numbers.

• 45:07Anthony Pompliano?

  Is it fair to say that your thesis on Eli Lilly is one foot in the old world, one foot in the new world? What I mean by that is, uh, you're basically saying Eli Lilly is one of the best ways to profit off of the US government's lack of spending discipline because they are going to spend money and a significant portion, 20, 30%, whatever it is, goes to healthcare, of which Eli Lilly is a very big, uh, component. Money ends up in their pocket for that. At the same time, all of the AI stuff, quote-unquote, the new world, Eli Lilly is leaning very hard into that and they're be able to drop prices, accelerate growth, use M and A, right? All those things. So like, Eli Lilly may be one of the most interesting businesses, I think I hear you're

• 45:52Anthony Pompliano?

  saying, where they're benefiting from these like long-term kind of traditional trends of healthcare and aging population and obesity. But they're also almost disrupting themselves to a degree with all the AI stuff. And you put those together and it's like one plus one equals five. And that's why you're bullish?

• 46:08Speaker 02

  This has to do with, if they didn't have Manjaro and the whole Ozempic cash cow business, like you like to see a business that like when, if you go through Apple, people have to remember, like before the iPhone, yeah, they were turning the business, I mean, Steve Jobs had turned it around, but how much did the iPhone change everything? And look at their hardware numbers to go from what it was to what it is today. When you get a cash cow, you can get into other things like services and they've turned themselves into a service business. For Eli Lilly, this cash cow side is enormous. All pharmaceuticals do not have this cash cow. And this cash cow is growing every single year right now. What are they doing with the cash? I made the joke, but Novo Nordisk had the same thing.

• 46:54Speaker 02

  And they use the cash to go pay dividends. And this is, I mean, this was a, they didn't want to make a bet. Eli Lilly has made significant AI bets. If I try to describe to people the importance of Toon Lab, the importance of the data center that they did for themselves, the setting up a location outside Stanford, out in Silicon Valley to basically work with Nvidia. When you see Nvidia and the CEO Dave Ricks on stage together and you listen, I mean, I spent a lot of time to just hear the plan, make sure that this was smart. But if you have all that cash, I have believed for the last three years, that unfinished IP

• 47:39Speaker 02

  was incredibly valuable.

• 47:42Speaker 02

  And what I mean by that is, when a biotech company goes public, which was a massive part of, I mean, the, the COVID years and even before that, when they would go public, you have to have science behind that to raise the money that was necessary. So it's not like these were harebrained schemes or scams that would eventually go, these were IP. Now, maybe they weren't able to finish them, but if all of a sudden they're getting closer and closer and Eli Lilly goes, okay, we'll, we'll, we'll buy you guys. And they're doing these M and As to buy these IPs that they think are worthwhile. Now, when you add in the benefits that came from Ozempic, they don't know why dementia's better. They don't know why, you know, the chronic inflammation, why all of a sudden people have less knee pains, why addiction went down.

• 48:28Speaker 02

  There's a lot of science in this, that Eli Lilly has data from all of these millions of people and what they've gone through coming out, that, uh, should help them from the data collection. So when you go through everything and you really think what this is, I think this is a very unique part of AI. So when I say this will be the biggest AI company, compared to Nvidia, there is a risk of an overbuild. You have to build that in. This is a cyclical thing. And I do think at some point, we're seeing that with Intel today. Why is Intel down so much? It's not because the demand's not there. Their PC sales are suffering. Why is that? Because memory costs have gone higher and you can't even get the memory. The bottleneck issue keeps these companies from actually being able to accelerate as much as they would.

• 49:12Speaker 02

  And so that's why you see these multiples compressing. For Eli Lilly, I don't, they don't have this issue. They don't, they don't have to worry about this. This is a very different thing. So this gets into the application is the, the major story here.

• 49:25Anthony Pompliano?

  Because of the AI and cybersecurity concerns, do you have any cybersecurity stocks that you are buying or interested in?

• 49:33Speaker 02

  So I do not spend a ton of time on single companies with inside the space. If I wanted to say, the only software company that I own is Palantir. And Palantir is becoming a much bigger position for me relative to the semi-names because Palantir's outperformed so much. Uh, I've talked about Palantir in here, but this got into the sovereign AI thing. And if you go back from the day that Alex Karp spoke about the importance of sovereignty, AI sovereignty, and you go look at what Palantir has done since that day, you made a lot of money if you went out and bought Palantir. So I, that is kind of my theme on this. These names trade at such high multiples and that means I really have to drill down and I have to get a sense. I think all the demand side is going to be there.

• 50:19Speaker 02

  But if you ask me, do I believe that a lot of that demand is already built into the stock? There is no doubt that those names could go sideways for a year and a half, just like we've seen in the semiconductor names for the last four months while their earnings have grown.

• 50:32Speaker 02

  It can just be stuck in the mud.

• 50:34Anthony Pompliano?

  All right. Before I let you go, I want you to think of, is there anything that you did with AI this week? That is a little tip for everybody. While you're thinking, I'm going to tell them one that, uh, that I figured out. I used Grokbot and I set up a bot genealogist. And I basically sit there, maybe 15 minutes telling it, hey, here's my parents' names, my grandparents' names. Here's family lore. I think that there's somebody named this, that did this, blah, blah, blah. Go find as far back in my family lineage as possible. And I knew some detail, like I know the town that my great grandfather comes from in Italy. I know this or that, but actually you'd be surprised, some stuff I don't know, right?

• 51:19Anthony Pompliano?

  This thing was incredible.

• 51:23Anthony Pompliano?

  Marriage certificates, birth certificates, voter rolls, all, all the like public stuff that you, you almost expected to be able to do. It started to identify where certain records were. So, uh, my family, um, one, one part of my family comes from a place called Sumona, Italy, which is, I don't know if you've ever seen like a confetti candy, you know, like, uh, all right. That's where I was in bed. That's the only thing that the town is known for. But the records only go to like 1865 or something on the internet. Past that, it is all, you know, written in books and stuff. It was crafting emails in Italian to email to the people in this town saying, can you go into the books and get this info? I said, dude, this thing is incredible. I would pay any amount of money for this tool.

• 52:07Anthony Pompliano?

  And then when you focus it on genealogy, I was like, you could do this for anything. So my one thing is if you're interested in your family's lineage, your genealogy, uh, don't worry about all these websites. Just hook up a Grokbot, tell it you're a genealogist, go and just tell as much information as you can. And, uh, it's a nice little, uh, weekend activity. Your turn.

• 52:28Speaker 02

  Only thing I'll, I'll add, um, that was new this week, and this actually was from a direct thing that Matt said, your, your producer.

• 52:39Anthony Pompliano?

  The boss.

• 52:40Speaker 02

  Yeah. So I started to, um, I have a lot of people that want shorter versions of my video. They wanted me to do YouTube shorts. They wanted me to do other types of videos. My family did as well. So I literally took my video from the weekend and asked it to create shorts. I also uploaded, um, a bunch of old videos that I had done of my son skiing and had it create a new video with all the little clips as one thing. The video editing.

• 53:15Anthony Pompliano?

  Incredible.

• 53:16Speaker 02

  It, it's incredible because I didn't have to do anything. I literally just uploaded the first video and said, can you find the most interesting clips? I want to do these as YouTube shorts for the YouTube channel. That's the way it started. And that was from the suggestion of Matt and it did it in a matter of minutes. Like it was maybe six or seven minutes. I couldn't believe how good the selections were. But with my other videos and doing it from like family related things, this is where it became more interesting to me. Because the creativity that it has with, hey, here are six videos. Why don't you put these together in a way that makes it more interesting? If you want to put some music into it, go like anything along those lines, you'd be shocked at the ability to do it.

• 53:58Anthony Pompliano?

  What did you use to do it? Which platform?

• 54:01Speaker 02

  No, this is Grokbot.

• 54:02Anthony Pompliano?

  Grok, oh, yeah.

• 54:03Speaker 02

  Yeah. That's what I mean is that historically to do video editing, there were AI tools, but it was kind of a, still a little bit of a hassle. With Grokbot, it was shocking how fast it was.

• 54:15Anthony Pompliano?

  All right. I actually lied. I have one other one that the team, the team will get mad. It's not as AI specific, but I do think this is very important. This week with Sylvia, we launched something called Silvia Legacy. And, uh, if you watch this podcast, uh, I've had this conversation with a ton of friends that are married in the last three or four months. As we've been thinking through this, sit down with your loved one, spouse, friend, child, whatever, and say, if something unfortunate happened to me, do you know where our assets are? And could you actually get access to them? Some people, yes. Some couples or, or, you know, families, there is an awareness across multiple people. Most of that is not true. Usually somebody is responsible for the spending.

• 54:59Anthony Pompliano?

  Somebody is responsible for, you know, the investment assets. What we built is when you hook up all of your accounts into Sylvia's, you go to sylvia.com, you text your bank account, brokerage, crypto account, et cetera. You can now pick an individual, up to three of them and say, if I do not log back into Sylvia for some period of time, I want you to notify me. And so what I did is I chose my wife as my, uh, Silvia Legacy person. I said, after 60 days, if I don't log in, I want you to send me an email and a text message. Send one the first week. If I don't respond, send me another one the next week. Send me another one the third week. If I do not respond or engage in any of those for three weeks straight, I want you to wait, I think it's seven or 14 days.

• 55:40Anthony Pompliano?

  And then I want you to take all of the information in Sylvia's, all my accounts, my assets, where they are, et cetera. And I want you to deliver what we call a financial package to her. So I'm in control of who's the recipient, what information she gets, et cetera. But then I had to make a decision.

• 55:56Anthony Pompliano?

  Do I include, so Sylvia allows you to choose just the assets or do I include the chat history? Cause we thought the fine control, some people think the chat history is very personal. For me, I chose, I said, include the chat history. Now, part of it is I think she would be entertained by reading me talking to an L. But two was, that's really where the why is. What was I thinking when I bought this? What was I thinking about, you know, tax, but whatever. And so one, I genuinely believe that multiple people in a family, loved ones, et cetera, knowing that they will get access at some point. If somebody passes away or whatever is important. But two is, it started me thinking about the chat history has become this weird asset.

• 56:37Anthony Pompliano?

  It's kind of like families have scrapbooks, you know, all, all these different like family based things. I talked to just about the genealogy bot, right? You're talking about the video editing, like, what happens to all of your videos and all of your knowledge? How do you get that to loved ones? Chat history, not just of, you know, something Sylvia works very attributable to the assets, but then like, well, what about me talking to Grokbot about the business? Should somebody get access to that stuff so they could hopefully, you know, transition the business or whatever? It's just a fascinating time that we're living through now, right?

• 57:10Speaker 02

  It is. And this is the point about when you get back to how few people are using the technology. I, I, I don't know what to say to people, it's just, just about how powerful it is. You're going to get over the privacy issues at some point.

• 57:23Anthony Pompliano?

  A hundred percent.

• 57:25Speaker 02

  The amount of times that if people want to commit to, I don't know why, and this is the number one reason, you, you mentioned all these things. I still believe, not believe, Muse is the most powerful for a lot of the things you're describing. And the reason is because Meta has spent an enormous amount on their model related to memory. Chat GPT and Grokbot, none of the, well, Grokbot is, is, is similar. The memory side of Muse is unbelievable. So when I do my recipes, when I do anything, if I'm measuring my health for a month and I go, you know what? I just want to make sure that at the end, the numbers that I'm seeing in ordering and my iWatch match up. So I'm going to start telling you every meal what I've had.

• 58:10Speaker 02

  So if someone's trying to lose weight and they're like, okay, you got to count your calories. It's much easier to say, hey, Muse, this is what I just had for breakfast. And that's it. Hey, this is what I just had for lunch. Anytime you eat something, you put it in there and then you don't have to tell it, okay, sum this up for the day. It just has that record forever. And then you say, all right, can you go back and give me all of the days of the month and give me the calories for each month? So I can see if I'm not losing weight because of my exercise or because of my eating. And as long as you're honest with it and you're doing it as you go, literally like a walkie talkie, which takes two seconds, it's great. If you are someone who scrapbooks or you do something where you're keeping a daily journal, you can take a photo of it, upload it to Muse and then it has everything forever.

• 58:56Speaker 02

  And it never forgets it. And I just think that that's going to become a part of our lives. And it will be Alexa at some point as well, where you can just do it verbally and it's either on your phone or it's verbal. It just doesn't matter.

• 59:07Anthony Pompliano?

  We, we should do an episode maybe towards the end of the year and bring all of the unique use cases that we have both discovered around using this technology and explain to people how to do it. I think people would be very interested in that.

• 59:19Speaker 02

  We'll do it.

• 59:20Anthony Pompliano?

  All right. That's it for today. Go to YouTube, source Jordy Visser. He's going to put out a video tomorrow. Make sure that you subscribe. Happy Halloween to all of you. I hope that you do not eat too much candy. If your kids go trick or treating, make sure you dad tax them. Make sure you take a little bit. Go check out sylvia.com, sign up. Make sure you pick someone for Silvia Legacy so that they will get access and understanding of your financials when, uh, when you ultimately pass away. Cause time does not escape us all. Marcus Aurelius, all the way to us. We all understand that. See you guys next week.