328: Pomp Answers Listeners' Questions

This is an episode of The Pomp Podcast with host Anthony "Pomp" Pompliano. He answers a bunch of questions from listeners about everything from finance to business to his personal story. =============================== BlockFi allows you to keep your crypto, put it up as collateral, and receive a USD loan funded directly to your bank account. They do loans ranging from $2,000 to $10,000,000, and they're perfect for helping you reach your financial goals of all sizes. Visit BlockFi.com/Pomp to learn more about putting your crypto to work without having to sell it. https://www.blockfi.com/pomp =============================== Our second sponsor is choice, a new self-directed IRA product that I'm really excited about. If you are listening to this, you are likely part of the 7.1 million bitcoin owners who have retirement accounts with dollars in them, but not bitcoin. I was in that situation too. Now you can actually buy real Bitcoin in your retirement account. I'm talking about owning your private keys and using tax-advantaged dollars to do it too. Absolute game changer. https://www.retirewithchoice.com/pomp =============================== Pomp writes a daily letter to over 50,000 investors about business, technology, and finance. He breaks down complex topics into easy to understand language, while sharing opinions on various aspects of each industry. You can subscribe at https://www.pompletter.com

• 0:00Speaker 00

  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. Let's kick this thing off.

• 0:10Speaker 01

  Anthony Pompliano is a partner at Morgan Creek Digital. All opinions expressed by Pomp or his guests on this podcast are solely their opinions and do not reflect the opinions of Morgan Creek Digital or Morgan Creek Capital Management. You should not treat any opinion expressed by Pomp as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of his opinion. This podcast is for informational purposes only.

• 0:35Speaker 00

  Alright everyone, bang, bang. This is a thank you listeners episode. What that basically means is I tweeted out and asked for questions. I literally got hundreds of questions. I'm not going to answer them all, but Plana has so graciously agreed to come on and help me choose.

• 0:56Speaker 02

  The best ones.

• 0:57Speaker 00

  The best ones, the best ones, the absolute best ones. Before we do that though, I want to quickly talk about our sponsors. These sponsors today, one is BlockFi. As you guys know, I'm a super enthusiastic user and an investor in the company. They've got three products. They allow you to buy and sell crypto on their crypto exchange. They also allow you to deposit crypto and take out a US dollar loan. And then they allow you to deposit crypto or stable coins and earn up to 8.6% APY in an interest-bearing account. No brainer compared to traditional interest-bearing accounts. There's risk, go do your own research.

• 1:35Speaker 00

  Also later this year, they're going to come out with a Bitcoin Rewards credit card. It's going to be awesome. Go check out blockfi.com/pomp. Again, blockfi.com/pomp. Our second sponsor is a newer one that I'm super excited about. It's called Choice. They've got a new self-directed IRA product. You are probably listening to this and are part of the 7.1 million Bitcoin owners who have retirement accounts with dollars in them, but not Bitcoin. That's okay. I was in that situation too, but no longer. Now you can actually buy real Bitcoin in your retirement account. I'm talking about owning your private keys with tax-advantaged dollars. So you can get a self-directed IRA called Choice.

• 2:16Speaker 00

  That will allow you to buy Bitcoin, own the private keys, and use tax advantaged dollars to do it too. It's an absolute game changer. RetireWithChoice.com/pomp. RetireWithChoice.com/pomp. Lastly, I write a daily letter. Fifty thousand people read it. For some reason, business technology and finance is what I cover. I break down the complex topics into easy to understand language while sharing my opinion on various aspects of each industry. You can subscribe at pompletter.com. All right, sponsors are out of the way. Thank you for doing this.

• 2:49Speaker 02

  Thank you. My hair is wild right now. I don't know.

• 2:52Speaker 00

  Okay, some people are just listening. That's fine. Okay, what's going on? What's the first question?

• 2:56Speaker 02

  Okay. First question comes from Charlie Bleeker.

• 3:01Speaker 00

  At Bleeker Charlie.

• 3:03Speaker 02

  Let's talk about the process. How much preparation goes into a podcast interview? Are your follow-up questions written out, or do they come naturally in the moment? How long did it take you to interview well? For example, no filler words, stumbling, etc.

• 3:17Speaker 00

  I still don't interview well. I stumble.

• 3:20Speaker 02

  You do.

• 3:20Speaker 00

  I stutter.

• 3:21Speaker 02

  No, you do interview well.

• 3:23Speaker 00

  I appreciate the compliment. I don't think so. I think I can improve drastically. I say um and ah and a bunch of stuff. I say right, makes sense, little kind of filler words, so I can get rid of those. In terms of preparation, it varies. There are some that I do a lot of preparation, but majority I don't do a lot of preparation. I either ask the guest for specific topics that they think would be fun to talk about. I come with my own topics and questions, but usually those questions, like I know most of the people who come on the podcast, so there are questions that I already had. And the reason why I'm asking them to come on the podcast is because I want to talk to them about something specific, whether it's them, an idea they had, a business they've run, a view of the world, whatever

• 4:08Speaker 00

  it is. And so, part of the magic, I think, of the podcast, Charlie, is that I literally just ask the questions that I have. I don't really worry about what does the audience think. It's my personal curiosity, and so far that's proven to be super valuable, so I'll keep doing it.

• 4:23Speaker 02

  Yeah, it's pretty crazy. When I interview someone, not that you guys care, but like when I interview someone, I over-prepare, and I have to write out every question. He doesn't do that. He just jumps on and is like, let's see where this takes us, which I think is a great skill to have.

• 4:38Speaker 00

  Yeah, it's just like a natural exploration of who is this person? What are their ideas and why do they care about what they care about? I love it.

• 4:44Speaker 02

  But aren't you ever scared that you didn't ask them something that you should have asked them? And then later gone back and been like, oh, I should have asked that, but I didn't do my research.

• 4:53Speaker 00

  No, I just emailed them and asked them the question. The get the audience doesn't get to hear it, but like I still get my answer.

• 4:59Speaker 02

  Okay.

• 5:00Speaker 00

  All right. What's the next question?

• 5:01Speaker 02

  TK at crypto T S K asks, who have you learned the most from? Who is your most requested guest that you haven't yet interviewed?

• 5:11Speaker 00

  Um, who have I learned the most from? I'll keep it to somebody on the podcast. It's really hard to pick one person. I've learned so much from so many different people.

• 5:22Speaker 00

  I would say that the people I've learned the most from usually end up having the most views because other people learn as well. So if you think of just the top, uh, the top downloaded episodes, I think it's like Chamath, Raul Paul, Mark Yusko, Peter Zeahan, Mark Cuban, Kathy Wood. Like those are the people probably that everyone would seem that they've learned the most from. One of my favorites that didn't actually do as well as I thought it was going to do was with Keith Rebois from Founders Fund. I've known Keith for a little bit. I just generally think that he's an incredibly intelligent guy.

• 6:03Speaker 00

  And the way that he kind of breaks down problems and the mental frameworks he uses are super interesting to me. So he's probably somebody who's not up there.

• 6:14Speaker 00

  And then another person that I thought was really interesting was Daryl Morey, the GM of the Houston Rockets. I really enjoyed talking with him. So I think there's a lot of people in terms of what was the second part of the question?

• 6:27Speaker 02

  It was, who is your most requested guest that you haven't yet interviewed?

• 6:33Speaker 00

  The most requested thing around podcasts, everyone keeps telling me to go on Joe Rogan's podcast as if like, I'm just gonna call Joe and go, like, that's not how it works. Uh, in terms of people who want a guest to come on, I think I've pretty much got most of the guests. May- maybe Bill Ackman, uh, is one. Yeah, well, uh, nobody's asking me to interview Beyonce.

• 6:54Speaker 02

  Oh, I am.

• 6:55Speaker 00

  Uh, okay. Uh, but I think Bill Ackman's probably the one that, uh, I'm still working on trying to get him. Um, they're open to it, so, so we'll see, but, uh, he, he's probably the one that's the most requested I haven't done yet.

• 7:08Speaker 02

  So, it is interesting that, you know, you've interviewed a lot of people and you just mentioned the ones you've learned from, yet I have been on your podcast and, uh, I wasn't on that list.

• 7:20Speaker 00

  We'll just keep going, okay? What, what is the next question?

• 7:23Speaker 02

  Okay, we'll have at this conversation later. At Michelle McLennan, at Meech McLennan is the...

• 7:30Speaker 00

  Meech underscore McLennan.

• 7:32Speaker 02

  Where do you begin in learning about Bitcoin and what are the most reputable resources on Bitcoin?

• 7:38Speaker 00

  I send people to three things. I say the first thing you should do is you should read the Bitcoin White Paper. I tend to think that that is still today, one of the best resources to understand what Bitcoin is and, and how it was intended to be used. The second thing that I send people to is Jameson Lopp has a fantastic, uh, resource page. I think it's lopp.net slash bitcoin, uh, dot html maybe? Uh, that is just a fantastic thing. It's got all kinds of links and videos and it's just like a rabbit hole unto itself. And then the third thing I send them to is the Bitcoin Standard, the book that Safe Dean wrote. Um, I tend to think that that is a, a great resource as well. And so those are the three things I tell people to start with.

• 8:19Speaker 00

  Uh, and if they can kind of get through those materials, I think they'll come out on the other side very informed. Um, and kind of have a good understanding of not only, uh, what Bitcoin is, why it's important, and what it's going to solve in a legacy system.

• 8:32Speaker 02

  Thank you for that question, Michelle. Next up is Henning, at, at Henning, wow, what a...

• 8:38Speaker 00

  So it's the at sign, A T underscore Henning, H E N N I G.

• 8:42Speaker 02

  I like this question. If you were 18 years old again, what would you have done differently?

• 8:48Speaker 00

  If I was eighteen years old.

• 8:51Speaker 02

  Well, first of all, what were you doing at eighteen?

• 8:54Speaker 00

  At eighteen, I had just gotten to college and I was playing college football and being a shithead student. Uh, my entire freshman year, I pretty much didn't know where the library was on campus. To give you an idea, that probably wasn't the smartest move. Um, and then at, uh, twenty, I got deployed to Iraq. So, pretty much eighteen to twenty was like a normal college kid and then twenty, you know, kind of went sideways there. Um, but if I could go back to eighteen, I think the two things that I would say to myself was, um, one, surround yourself with people that have done what you want to do.

• 9:33Speaker 00

  Uh, that took me a little bit in life to, to understand that. And then the second thing that I probably would have done differently is I would have actually not gone to class. I would have done that even more of a bare minimum. Uh, and I would have spent way more time learning about the things that I personally cared about and would have used college as, uh, a way to do that. In terms of advice for my eighteen-year-old self, uh, I think I would literally just tell myself, go bigger, go faster, and don't worry about making mistakes.

• 10:05Speaker 02

  Hmm. I feel like you didn't worry about that.

• 10:08Speaker 00

  Yeah, but it was always kind of in the back of my head of like, oh, don't screw up because like, no matter how much of an independent thinker you are, or like you don't care about other people's opinion, you still are scared of like, oh, my God, like, for those that don't know, uh, out of school, I started, uh, two separate companies and so never like went to job interview or anything while I was in college. But you're still like, oh, my God, if these companies don't work, like I have to have something to fall back on in a safety net. And just like, that fear drove me to do things that ended up being a waste of time.

• 10:40Speaker 02

  Hmm. Interesting. At Steven.

• 10:43Speaker 00

  Just, just read their handle, at S O U S T E C K Y, at Susteky.

• 10:50Speaker 02

  What do you think about a hybrid monetary policy, like using a neutral hard asset like Bitcoin as collateral for central bank currencies? Seems like a win for everyone, including Bitcoin.

• 11:00Speaker 00

  I think that we will see that happen, but it will be a stepping stone to kind of a hyper Bitcoinized world. And what that basically means is there was rumors already that Venezuela's central bank was putting Bitcoin and Ether into their reserves at the central bank. I do not know if that was actually true or not. It was a rumor that was floating around. It probably is pretty hard to confirm either way. But I think that that will happen in the future. They put gold there. So why would they not eventually put Bitcoin? And I think we'll see everyone from kind of the countries that operate on the fringe, like the Venezuelas, the Iranians, North Koreas, and are kind of sanction prone, to countries that are superpowers, whether it's the United

• 11:42Speaker 00

  States, Russia, China, etc. And so I do think that it'll happen. It's just not the end state. It is merely a step in the direction of eventually Bitcoin rising to be the global reserve currency.

• 11:55Speaker 02

  At Can Jimmy Play?

• 11:57Speaker 00

  Can Jimmy play? I don't know. Jimmy, can you play?

• 12:01Speaker 02

  If the price of Bitcoin is less than $17,000 by the end of 2022, what do you do with your BTC investment? Hold it and see or invest in other things?

• 12:11Speaker 00

  So this is my personal thing. This is obviously not investment advice. For me personally, what I'm going to do is the investment that I've made in Bitcoin, I will not touch as of right now. Of course, if information changes, like, I don't know, Bitcoin gets hacked or something crazy happens, then I'll reevaluate. But right now, I look at it very much like a venture investment. It's either going to be worth an incredible amount more than it is today, over whether it's years or decades, or it's going to be worth very little and worth much less than it is today. I tend to obviously think it'll be worth way more. But when it's a venture investment, what you basically start to learn is you don't want to be your own worst enemy. And so I'll basically allow the investment to play out. I have a super, super long time

• 12:55Speaker 00

  horizon. I've basically made the investment and forgot about the money to some degree, and we'll see what happens.

• 13:02Speaker 02

  At Chris Von Heim.

• 13:04Speaker 00

  Ah, Chris.

• 13:05Speaker 02

  Oh, you did a podcast with him?

• 13:06Speaker 00

  Did.

• 13:07Speaker 02

  What have you changed your mind about over this crazy year and why? Could be a personal one or an economic viewpoint?

• 13:15Speaker 00

  That's a great question. I would say two things probably I've changed my mind on. The first is definitely from an economic standpoint, the Federal Reserve's power to inflate asset prices and how fast and strong they can do it. So we've seen a complete dislocation between the economic realities on the ground with stock prices. We have stocks hitting all time highs, yet there's 45 plus million Americans that are unemployed. You know, all of that type of something you guys have heard probably heard over and over again from me and others. And so I think the way that I look at it is that definitely underestimated how that would work.

• 14:00Speaker 00

  Oh, look at this. I'm gonna, I'm gonna get a little light going here.

• 14:03Speaker 02

  You're blinded, but okay.

• 14:04Speaker 00

  It's all right. Hold on a second, guys.

• 14:06Speaker 02

  You're making my hair look even more crazy.

• 14:09Speaker 00

  Well, they don't have crazy hair. All right. So that's first of all. Then a thing that I think personally, I've spent a bunch of time going back and forth on, should companies raise venture capital, should they not, who fits in what bucket? And I think that the more time I've spent thinking about it, the more that I realize most companies should not raise venture capital. And not only should they not raise venture capital, but actually the venture capital could kill them. And so I don't know if that's necessarily I've changed my mind as much as I've like gotten a much deeper conviction in it. And it's caused me to change certain actions that I take, both from an entrepreneur standpoint, but also from an investing standpoint.

• 14:51Speaker 02

  Do you have a personal one?

• 14:53Speaker 00

  A personal one? Plana and I have survived being locked up for four months together. So that's pretty good. I didn't change, I didn't change my mind.

• 15:03Speaker 02

  Yeah, I was gonna say.

• 15:05Speaker 00

  That's actually a lack of change my mind.

• 15:07Speaker 02

  Oh, interesting. Okay.

• 15:08Speaker 00

  I could have changed my mind.

• 15:11Speaker 02

  Okay.

• 15:12Speaker 00

  Been like, I'm out. See ya.

• 15:13Speaker 02

  So at Andre Simon twenty has a concern.

• 15:17Speaker 00

  All right.

• 15:17Speaker 02

  Isn't a BTC standard just replacing the 1% elite? Gold standard proved not to be good. I think we need to change the system slash engine, not the fuel. Still, I like BTC and I believe it will change a few things, but not enough.

• 15:32Speaker 00

  So I think that we actually believe the same thing. He is saying something that uh is a little bit short sighted in the sense of, I believe that Bitcoin changes the system. Uh it's not just changing the fuel, it's changing the actual engine. Because ultimately what you're doing is you're doing two things that are very important. One, you're removing the human nature involved in mon- in um managing money. So literally, you're going to remove uh the equivalent of all central banks around the world. Uh there is incredible power and there's a structure and ownership that comes with those central banks. And so by removing them, uh you quite literally are changing the system. The second thing that I would say is uh there is a kind of ripple effect or a cascading effect by changing the money.

• 16:17Speaker 00

  Or as uh my friend Marty Bent says a lot, he says, uh you know, fix the money, fix the world. Basically, by fixing the money, you fix a lot of other things, everything from the overconsumption uh in societies to um literally wealth inequality gap, all that kind of stuff. And so it's the single point of failure in the legacy system that causes the most damage. And so if you can basically fix that or improve it, I think Bitcoin does that. You then can also kind of have the ripple effect of improving all the other things. And so it's the ultimate changing of the system or improving of the system.

• 16:48Speaker 02

  Yeah, very interesting. At Caveman CJ, what is the most simple yet profound statement about Bitcoin that you can tell someone to make them a believer?

• 17:01Speaker 00

  My favorite one, I don't know if it's the most profound or anything like that. My favorite one to tell people is, do you think the system's broken? And most people will say yes, and then I tell them Bitcoin is a peaceful protest about leaving that system. And they may go, what do you mean? And it's intriguing enough to get them to ask questions and try to understand it more. And so I like to go down the path of like, hey, this is a protest of the existing system done in a peaceful way. Because it's just enough kind of revolutionary and intriguing and kind of pulls on certain emotional strings. To get somebody to ask questions and dig deeper. But at the same time, it's still accurate enough to clearly articulate.

• 17:44Speaker 00

  This is something that is outside of the system or something that is going to be quite different than the existing system.

• 17:49Speaker 02

  There's a whole lot of systems that are broken, just FYI. Okay. At Grant's own, what's your bear thesis for Bitcoin? Does unlimited QE help or hurt Bitcoin in the next three to five years?

• 18:03Speaker 00

  The more money they print, the more bullish it is for Bitcoin, in my personal opinion. My bear thesis is, and I've continued to say this for a while now. The number one way that Bitcoin suffers or ultimately ends up being not valuable is from a self inflicted wound. And so that can be everything from literally a software bug is introduced in the development process. Obviously, there's a lot of things in place to try to mitigate those, but that's one possibility. Another possibility is that there's some sort of Bitcoiners that participate in like a 51% attack or something like that. Again, unlikely, there's things in place to try to mitigate that, but that's potential. And also we've seen in history how that hasn't worked.

• 18:46Speaker 00

  And then the last thing that I would say is the bear thesis, I'm not going to put this in the bear thesis category, but it is a potential bear thesis. So I actually don't think it'll be a bear situation, many people do, is outright banning of ownership in the United States or elsewhere. So if the US government said, hey, we're going to ban ownership of Bitcoin. Obviously, that would have a short term negative impact. I personally think it would have a very, very positive long term impact. But nobody knows for sure. And so some people would put that in the bearish category. I'd put it in kind of the neutral to positive category. But, you know, hopefully we never find out.

• 19:24Speaker 02

  At Maoquist19, how did you get your lady into crypto, asking for a friend?

• 19:32Speaker 00

  She's not into crypto. That's the truth.

• 19:36Speaker 02

  I appreciate it.

• 19:39Speaker 00

  Yeah, Plina, one, understands much more than most people, obviously. She just hears me blabbing about it all the time. Two is, she grew up in Eastern Europe and literally when she was growing up,

• 19:52Speaker 00

  her home country of Bulgaria went through their own version of hyperinflation. And so she and her family experienced that. And then the third thing that I would say is, we take a very interesting type of investment strategy between the two of us. I take lots and lots of risk and we've consciously made a decision for Plina to do as little risk as possible in her portfolio. And so, so far, so good.

• 20:20Speaker 02

  Yeah, I think just if you're talking about getting her interested in it, I think that just explaining it in a way that makes sense and has, it explains the practical applications of it helps. Okay. Um, at WoaNas.

• 20:39Speaker 00

  It's at WoaNas.

• 20:42Speaker 02

  But his name is Noah, you see? So I got confused.

• 20:45Speaker 00

  I know.

• 20:45Speaker 02

  Okay. So WoaNas, do you see, did you see anything in the army that changed your perception of your country?

• 20:54Speaker 00

  Yeah, I think any soldier who's ever gone to combat zone basically starts to see war for what it is. There's an agenda and that's true of every single war ever in history. Some of it is very much explainable and kind of reasonable. Then there's other times where people are just like, why are we here? What are we doing? And I think that that is an eye-opening experience, especially for a 20, 21-year-old soldier who kind of joined for what most people would say are like the quote-unquote right reasons of patriotism and things like that. And the second thing that I would say.

• 21:34Speaker 00

  Say is war is this really weird place where you see the best of humanity and you also see the worst of humanity. And sometimes you can see that in the same moment or in the same day. And so I think you just get a lot of kind of whiplash in terms of the extremes of humanity. It can leave you very jaded. It can leave you actually very positive on humanity. And so I think that's probably one of the things that was most interesting was just like.

• 22:02Speaker 02

  Leave you.

• 22:04Speaker 00

  I mean, I came back and I, most people who know me know that like when I came back, I was like, I could die at any second. Like I'm going to have the most fun ever in life and I just, I didn't necessarily go wild in the sense of like people think like partying and doing all that kind of stuff. But I just took this approach of like, I'm going to live life to the fullest. And a friend of mine used to say in high school, anything worth doing is worth overdoing. And I kind of take that to heart of just I tend to agree that that's a pretty good way to look at life.

• 22:34Speaker 02

  Well, I disagree with that, but what I will say is he never gets stressed. I worry about every little thing and you just never worry, which may be your best quality. And, and stress does not affect you in the same way that it affects other humans. Is it because you keep that in the back of your mind?

• 22:52Speaker 00

  I, I've talked about this before. I basically compartmentalize things and I evaluate every single potential stressful thing or threat or whatever as can I die? No, it's not important.

• 23:02Speaker 02

  But that's tough, right?

• 23:04Speaker 00

  Why?

• 23:05Speaker 02

  Because there's so many things that are not imminent death, but you still get stressed about like family, family's health, family members' health, like things like that, that, you know, you worry about.

• 23:16Speaker 00

  I can't do anything about it.

• 23:17Speaker 02

  So it's what's in your control.

• 23:19Speaker 00

  Yeah, just am I going to die? No. Okay. Then I can't stress about it. Maybe I can, you know, talk to them or whatever. I just don't get stressed. Why would I get stressed?

• 23:29Speaker 02

  These are the conversations we have, guys. Um, okay. Patrick Calleney, at P. Calleney. Sorry, I butchered that, at P. Calleney. Serious question, I really like this question. Can you dive into I read the internet? Would love to know how you find, filter and consume information.

• 23:49Speaker 00

  So for those that don't know, Plina and I do a daily YouTube show and there's many times where I don't know the topics beforehand. Plina will start talking about something.

• 23:56Speaker 02

  It's so annoying.

• 23:57Speaker 00

  And I'll start rattling off stats or intricacies of the story and she'll look at me and say, how do you know that? And I'll always respond in a very arrogant and obnoxious way with, I read the internet. Uh, and so what that really means is I just spend a lot of time consuming information. Um, and I try my best to make sure that it's high quality information. Obviously, uh, there's no filter that's perfect. Um, in terms of where I get that information.

• 24:21Speaker 02

  What's your best filter?

• 24:22Speaker 00

  Yeah. Yeah, where I get the information, I would say there's three main sources. So one is I have the, uh, advantage and pleasure of talking to, uh, many of the smartest, wealthiest, uh, most successful people in the world, uh, for the podcast. And so, um, you know, many of those people I've met before, um, and then bring them on the podcast. But there's plenty of people who I'm meeting for kind of the first time as well. Um, but those conversations are incredibly, uh, valuable in terms of just being well educated and well read and, and kind of understanding many parts of the world. Another thing is, uh, on Twitter, um, I follow a lot of people, uh, and I pretty much have, you know, kind of mentally in a very loose way categorized people of like high signal, low signal. Some people I literally follow just for the memes, uh, and I don't take anything they say too seriously.

• 25:07Speaker 00

  Some people I follow, uh, literally from like a competitive analysis standpoint of companies were, uh, invested in or something like that. And then some people I follow because I think they're incredibly intelligent and, uh, I literally turn on notifications and when they tweet, I want to see what they're saying. Um, and the last thing I would say is I read a lot of newsletters.

• 25:24Speaker 02

  And podcasts.

• 25:25Speaker 00

  Yeah, I listen to podcasts too, yeah. But the newsletters I think are much more, uh, kind of informative in terms of like current events and what's going on and analysis and things like that. The podcasts to me are much more, uh, they replace something akin to like business. In this school, if you will. So I want to hear people's stories. I want to hear how they did certain things, why they made certain decisions in the past, how they worked out, will they do things differently, things like that. And so podcasts I listen to are Joe Rogan, Tim Ferriss, Jaco Willink, Eric Weinstein, Patrick O'Shaughnessy's Invest Like the Best, 20 Minute VC, Harry Stebbings. There's a whole bunch of them, but those are all.

• 26:01Speaker 02

  Can you share the newsletters you read?

• 26:04Speaker 00

  Uh, newsletters that I read, the ones that I open every single week without fail. One is the profile for sure. The profile is both because she would hold a gun to my head and also because I actually enjoy it. Read the profile.com. That's the one that I read for sure every week. A second one is I read Peter Zeahan pretty much every single day. I think he's pretty good. Plina is going to kill me for this. One of the people who I think is very intelligent. Plina used to write a better newsletter, but doesn't anymore.

• 26:38Speaker 02

  No, this is not true. He has a great newsletter.

• 26:41Speaker 00

  Is Dan Primack at Axios. I think, I think Dan just has a very nuanced way to look at the world. I really enjoy Josh Konstantinos' work. And then there's like a bunch of other ones that I don't actually subscribe to. What I do is I wait till people that I know are high signal, tweet them. And then I go click and read them. And so I basically am waiting for like other people to filter the ones that are the highest quality. And then when they tweet them, then I go read them. But I just know who those people are that are likely to one, have a good filter and two, also tend to share the things that they read.

• 27:14Speaker 02

  Sorry, can I just dig into that a little bit more?

• 27:17Speaker 00

  Sure.

• 27:18Speaker 02

  Okay, um, how do you identify somebody as high signal?

• 27:24Speaker 00

  It's somebody who, whether I agree with what they're saying or not, it's obvious that they have a very strong mental framework for how they think through things. And actually, another thing would be people that I've seen change their mind in public is a great one. And then a third thing I would say is something beautiful about Twitter is like, it's not just kind of your best self put forward. So somebody may say something and people will respond and then they get engaged in a conversation. And you can pretty quickly tell like, oh, that person is intelligent or like that person had a PR person write that tweet. And like literally, I don't know, like they just have water in their, in their skull, right? Like there's no, there's no brains in there.

• 28:06Speaker 00

  Um, and, and so I think that, uh, you can just kind of triangulate. There's no like science to it. It's more of an art. But, uh, once you get to that point, then you're just like, hey, what are other smart people I know reading? Um, and so that's what I want to do. Ben, uh, Thompson's, uh, Strategery, obviously, that's like a no brainer. Uh, I read too.

• 28:26Speaker 02

  Shane Parrish, I like.

• 28:28Speaker 00

  Yeah, Farnham share, I read on Sunday.

• 28:30Speaker 02

  Also like, alright, okay. Um, at Matt, zero sixteen, seven, one, four, oh, four. Uh, you recently went on the Bill Burr, Burt podcast.

• 28:40Speaker 00

  Bill Burt podcast.

• 28:42Speaker 02

  What is it?

• 28:42Speaker 00

  Bill Burt podcast.

• 28:44Speaker 02

  I thought it was Burr.

• 28:46Speaker 00

  His name is Bill Burr, but then he's a co-host.

• 28:48Speaker 02

  Sorry. Okay. Was Bill Burr more receptive to Bitcoin at the end than you anticipated?

• 28:57Speaker 00

  Uh, nuanced answer, but a lot of people don't remember this. Bill Burr was an absolute animal back, uh, in the two thousand eight crisis and coming out of it. He was just roasting the Federal Reserve. Go, uh, Google or go on YouTube and type in Bill Burr Federal Reserve, like hilarious takedown to the Federal Reserve. So he's actually very, very well versed in, uh, in finance, the Federal Reserve, monetary system, things like that. Uh, he doesn't let on as much, uh, which makes it funnier. Uh, but he's very intelligent, obviously. Burt was much less up the curve. Uh, and he, I think he even said that in the podcast, like he was just learning and was super fascinated by everything. Uh, in terms of the receptiveness, I did not expect Bill Burr to say on the podcast, like. You know, screw it, I'm gonna go buy Bitcoin.

• 29:41Speaker 02

  You said that?

• 29:41Speaker 00

  Uh, yes.

• 29:42Speaker 02

  Oh.

• 29:42Speaker 00

  You obviously listened.

• 29:43Speaker 02

  Oh, no, I, I.

• 29:45Speaker 00

  And then, uh, in terms of Burt, like Burt very quickly grabbed on to things that are nuanced in terms of mining and things like that. So I generally think that, uh, people who would, uh, reach out to me and say, hey, like, will you come on and talk about Bitcoin? They're open-minded already. There's some level of interest or intrigue. Um, but to see kind of how far down the rabbit hole they went, uh, so quickly was awesome.

• 30:06Speaker 02

  Cool. At Travis Riegler, you were, oh, what are you doing?

• 30:10Speaker 00

  Cleaning the screen a little.

• 30:12Speaker 02

  You were in the military before. How did you pivot to a job at Facebook? I'm trying to learn programming to pivot to a software engineer and I'm finding it to be difficult.

• 30:22Speaker 00

  Um, so I didn't necessarily go from the military right into, uh, into the software. I don't know why this light's being weird, but it's okay. Um, in terms of, uh, how I got there, so I was in the army. Um, and then I went back to school basically after deployment. Um, and at that point I decided to start a company. Uh, it was, we, we claimed that it was successful, but frankly, it was, uh, not nearly as successful as we wanted it to be. And it was kind of a, a great learning experience. Um, I basically didn't lose money, which was a win in my book at the time. Um, the second company that I started then, uh, went much better. Um, and that really allowed me to kind of springboard in.

• 31:04Speaker 00

  So what I would say is, uh, there's two ways to build, um, a resume that can get you into one of the tech companies, uh, large tech companies. Uh, the first is you can go the traditional path through education. Or the second thing is you can build things that they find interesting, uh, and they being people who work at the companies. Uh, and that's essentially how I got in was, uh, I had built some tools around, um, social data that, um, uh, people at Facebook had, had found interesting. And so I ended up getting the, uh, the job that way.

• 31:32Speaker 02

  Okay, at Genin, oh god, Glasgow. Besides regulation and opposition from the banking industry, what do you imagine is crypto's biggest hurdle, the widespread common usage for individuals and businesses?

• 31:45Speaker 00

  Time.

• 31:46Speaker 02

  Time for...

• 31:48Speaker 00

  It just takes time. Like, you're literally asking people to go use new products or to go use new money. It takes time to build trust. Like, it's only 10 years old. Gold's been around for 5,000 years. The US dollar, not backed by gold, has been around since 1971. Like, this stuff just takes a long time. And, you know, that's a super shitty answer in the sense that people want it to be immediate. But at the end of the day, it literally just takes more time. And so I think that people have to kind of have something called urgent patience, which means on a day-to-day basis, you have to have a sense of urgency and get things done and keep iterating and building and shipping products and kind of really pushing the pace of innovation in the short term. But also understand and be able to zoom out and have kind of the intellectual honesty of like, hey, this isn't going to happen overnight.

• 32:33Speaker 00

  Like Bitcoin is a multi-decade play and you have to be comfortable with the fact that you've got to work your ass off every single day in the short term in order to earn the right for Bitcoin to be successful over decades.

• 32:44Speaker 02

  So what I found interesting is that last year we were in Bulgaria and literally my grandmother, who does not speak English, and Anthony were talking through me as a translator about Bitcoin. Like, she knew more than I think I expected my grandmother in Bulgaria to know. So do you think that...

• 33:01Speaker 00

  Well, she's in... Just so people know, she's an accountant and her bosses at work, she works at a pretty large, you know, a pretty large corporation. Her bosses at work were mining Bitcoin. And so she basically, like, they had told her about it, but she's in her 60s.

• 33:17Speaker 02

  No.

• 33:17Speaker 00

  Yes, yes, she is. She's in her 60s and she lives in Bulgaria, literally like in the suburbs, not suburbs, like on a farm, basically. And, um, Plin is laughing because it's...

• 33:29Speaker 02

  It's a villa!

• 33:30Speaker 00

  A villa, okay, whatever. Uh, and she knew about Bitcoin. And like, and didn't know, just like, oh, I've heard of Bitcoin. Like, was able to explain to me like, oh, my bosses are mining with computers to earn Bitcoin, things like that. And so I think, again, like, that, that's, that is an outlier. Like, most people in Bulgaria probably don't know about Bitcoin.

• 33:48Speaker 02

  No, but my question was, do you think that adoption is going to vary based on geography, in different places? Do you think it'll, the time, the time that it takes to adopt it is significantly shorter in some...

• 33:59Speaker 00

  Of course, like if your currency fails tomorrow, all of a sudden you're like, shit, I need dollars? Or what's the next best thing?

• 34:05Speaker 02

  Yeah.

• 34:05Speaker 00

  Right? And so of course, there's things that can happen to accelerate it. But overall, on a global basis, if you kind of average everything out, it's just gonna take time.

• 34:13Speaker 02

  At Jimmy Mac 257, what company are you investing in that you think can create the must have app? That can drive complete mainstream crypto adoption?

• 34:23Speaker 00

  People hate this answer, but it's Bitcoin. I ultimately think Bitcoin is going to be the killer app. I think Bitcoin's gonna be the most popular product. And there will be all kinds of things built around it, whether it's wallets, it's exchanges, you know, every piece of infrastructure you can imagine, neo banks, the whole line of payment processors, whatever. But ultimately Bitcoin is going to be the core of all of this. It's already done a fantastic job over 11 years. I think it's only getting started. It will continue. And, you know, I'm pretty honest with with the idea that I believe Bitcoin will be the next global reserve currency. And the whole idea is that we don't need humans in order to kind of control or manipulate the currency.

• 35:02Speaker 00

  We can have a programmatic, transparent, you know, well understood monetary policy. And I think Bitcoin provides that.

• 35:10Speaker 02

  Okay, I like this question. At Satoshi underscore fever, if Polina's portfolio outperforms yours, will there be trouble in the household?

• 35:18Speaker 00

  Polina will be a billionaire before me. Fact.

• 35:21Speaker 02

  How do you know that? Somebody today.

• 35:23Speaker 00

  But I do believe in Polina more than she believes in herself sometimes.

• 35:26Speaker 02

  No, that's not true. Sometimes it's true, but I appreciate you believing in me because I believe in myself. Okay, anyway, so we always joke that I, there's some products that I use that he has never heard of. And then they like get sold for a crazy amount of money.

• 35:41Speaker 00

  It's not just some products. Polina has been an early user of like six different companies that end up going on to be billion dollar companies. What are they?

• 35:51Speaker 02

  Millennial women, Glossier, Rent the Runway, Stitch Fix.

• 35:56Speaker 02

  Uh drunk elephant. What was the one Canva? Canva was like the earliest user. Um.

• 36:01Speaker 00

  Yeah, you're using Canva in my 2013.

• 36:03Speaker 02

  Fourteen.

• 36:04Speaker 00

  Fourteen.

• 36:04Speaker 02

  Thirteen. Oh, I don't.

• 36:05Speaker 00

  Yeah, whatever.

• 36:06Speaker 02

  Whatever.

• 36:06Speaker 00

  But like, so it it does go to this whole idea of like millennial women or younger girls tend to actually be uh on top of these trends. Uh they gossip a lot, so they talk to each other and they spread stuff through word of mouth. Well, gossip being like word of mouth, they just spread stuff. By the way, guys gossip too. It's just they just gossip about dumb shit like what's the score of the football game? They don't talk about like, yo dude, did you see the new face wash I have?

• 36:31Speaker 02

  Yeah, no, totally. And Glossier used to be a cult blog before it was ever a company. So if you knew it through that, you know, also, I was a an early subscriber of the skin, like all that stuff.

• 36:43Speaker 00

  What's next?

• 36:44Speaker 02

  Next. Ready?

• 36:46Speaker 00

  Yeah.

• 36:47Speaker 02

  Wait, where was I? Oh, no.

• 36:49Speaker 00

  We're recording this at nine o'clock, so those who are watching the video and think that we look tired, it's not that we're tired.

• 36:54Speaker 02

  Oh, I don't look tired at all. I look great. At Louise Guillaume. Question, who are the five non-obvious people you have consistently read and followed for over a year in terms of valuable signal or perspective in any category? Also, choices don't have to be Twitter or podcasts.

• 37:13Speaker 00

  This is really hard because the people that I've probably followed for a long time, like over a year on the internet, they probably get discovered by most people. Like, I would.

• 37:22Speaker 02

  Early investor?

• 37:23Speaker 00

  No, no, but just like, so here here's a good example of somebody who like recently lots and lots of people started to pay attention to. Uh Blake Robbins at Ludlow Ventures. Uh Blake has been on top of media, consumer technology, gaming, like a bunch of things. Um and I've I've always just kind of like, uh I met him, I don't know, a couple of years ago, always thought he was a very intelligent guy. Again, great mental frameworks, really understood things, um was very personable, uh was willing to admit when he changed his mind, like all all the things that I look for and people who I think are intelligent. Um but now he's like, you know, was recently on Patrick O'Shaughnessy's Invest Like the Best podcast. Uh he's met pretty much everyone in venture, everyone likes him. So like, he he's kind of no longer like a a secret commodity, if you will,

• 38:07Speaker 00

  um in terms of like his thoughts and and ideas. Um in terms of other people that I think are interesting, um.

• 38:16Speaker 02

  Can I nominate, can I say Morgan Housel?

• 38:19Speaker 00

  Morgan Housel is fantastic. Yeah, but like, again, like, he's like a known person now, right? So like, most of the people who end up being good end up getting exposed and exposed in a positive way. Like Shane Parrish is another one, right? Like even you, right? Like when you started three years ago, nobody knew about the profile. Now all of a sudden, tens of thousands of people know about it, right? So it's like, if you do something on the internet for long enough and have consistency, of high quality, like eventually you get discovered. And that's like a really weird thing to say, because most people think it's like around like old musician or a performer or something, but it's also true of like intellectuals as well.

• 38:55Speaker 02

  Hmm. Okay. At Dylan Coke two, if BTC is to exceed a 10x return, do you think that stifles innovation in the short term? Because entrepreneurs would rather stack sats than start a business?

• 39:09Speaker 00

  No, I think most entrepreneurs, especially in the venture world, they're using other people's money to build the businesses. So they're not necessarily going to not use their money to start a business. If anything, if Bitcoin ends up appreciating a ton of US dollar value, it'll bring more and more people who want to build products around Bitcoin. So it actually will lead to more business creation rather than less.

• 39:31Speaker 02

  Hmm. At uh, Lane or Ian Dunn 24. Uh, what happens first? Giants win another Super Bowl or humans on Mars?

• 39:42Speaker 00

  Damn, damn.

• 39:43Speaker 02

  I think humans on Mars.

• 39:45Speaker 00

  Ian, come on, bro. Come on, man. Don't, don't be coming at me like that. Giants are going to win another Super Bowl. Don't worry. We got Daniel Jones, Saquon, game on. Let's go. By the way, if the Giants go eight and eight, that means they got a shot to win the Super Bowl. If we do really well in the regular season, we're getting bounced first round of playoffs.

• 40:00Speaker 02

  Yeah, get bounced. That's right. Um, okay. Oh, do you think the light is like that? Cause I moved. I don't know. At Bully-esque Sun.

• 40:11Speaker 00

  At Bully Esquire.

• 40:13Speaker 02

  Oh, sorry. That's not what it says. Okay.

• 40:15Speaker 00

  You know, the guy you call crypto bully? This is a period account.

• 40:18Speaker 02

  Oh, my God, crypto. Oh, but this is not the crypto bully. Oh, well, it's his son. So. Um, at A. Pompliano, will you run for presidency in 2024?

• 40:28Speaker 00

  No. Uh, I like my private life. Um, I have zero interest in politics, but uh.

• 40:34Speaker 02

  I would love to be first lady or president.

• 40:37Speaker 00

  But what I will say is, uh, I believe that somebody's gonna win on this ticket. And uh, if somebody put a gun to my head and said you had to run, what would your strategy be? Um, I would not run as an individual. I would put together a team and I would run as like.

• 40:52Speaker 02

  Is that allowed?

• 40:52Speaker 00

  As a team. Well, here's what I would say is, okay, here's the president, here's the vice president. Here's uh, every single person that's in the cabinet here, like here's everybody. And then I would go to the uh, debates and if they asked me a question about national security, I'd say, listen. I understand enough about national security to answer this question, but actually I have this expert who's on my team. I'm gonna defer to them and delegate this. What do you think? And what I would do is basically I would bring the smartest people and the most experienced people in the world together. And I would say to the American people that, look, you're not voting for me, you're voting for this team. And I'm not arrogant enough to believe that I'm an expert in all these different things or the best, most well-versed.

• 41:32Speaker 00

  Instead, I'm gonna build a team that together we cannot be beaten by anyone in the world.

• 41:38Speaker 02

  Yeah. So uh, to add to that, one interesting thing you've told me is that when you worked at Facebook, you genuinely believed that the company was successful because it brought in some of the smartest people at the time uh, around the table and was able to iterate on many things. Can you talk about the importance of having like a team of incredibly smart people?

• 42:00Speaker 00

  When people respect each other and they know that everyone there is intelligent, like people would literally say things like, well, you got in here. So like, you're not an idiot, right? And when you respect each other, uh, and you are all bought into the goal of solving a problem. Um, it's, it's incredible what can happen. There's very special things. I think politics is a great example where uh. What you do is when you build that team, you actually build it in a bipartisan way. So you literally have Republicans, Democrats and independents all on the team. So that there's no kind of party politics or any of that stuff. And you basically just show up and say, listen, here's the deal. We as a team all believe in these core principles and we are going to do everything we can to accomplish these goals.

• 42:42Speaker 00

  And any problem that comes up, we feel like we have the intellectual horsepower and the experience and expertise on our team to solve it. And by the way, if you think you as an individual who we are running against is smarter than us, knock yourself out. But as the American people, are you going to vote for a team of experts? Are you going to vote for, you know, one person? And I think that somebody will win with that strategy. I don't know if that's in 2024 or beyond, but I, I, I just see that being a very, very strong strategy, especially in the world that we live today with digital media.

• 43:13Speaker 02

  At Glenn Sats, explaining Bitcoin to people is challenging. What's your advice?

• 43:19Speaker 00

  To money. That's it. Mine's a belief system. So is Bitcoin. That's why it has value. And then it literally, I always go to the monopoly example. So many of you probably heard me say it, but I basically say, look, when you play monopoly, there's four people sitting down at a table. Everyone puts their bank balance in front of them, right? All of their money, then there's a bank where there's no actual banker or somebody in the game is just close to it and they are doing everything. But the reason why monopoly works is because you can see every single transaction that occurs. All of the transactions between people and also the transactions with the bank. And it's simply because of transparency. If you play with somebody who puts the money underneath the table, then all of a sudden everyone thinks they're cheating. So you say, hey, put the money back on top of the table. Same thing with Bitcoin. Bitcoin is essentially a digital version of that transparent system of transactions.

• 44:04Speaker 00

  And it's just done in a super secure way that is backed by the strongest competing network in the world.

• 44:10Speaker 02

  And what's the monopoly example?

• 44:12Speaker 00

  Yeah, it's just super easy. Like people, everyone's playing Monopoly, right? If you haven't, then like.

• 44:15Speaker 02

  You're missing out.

• 44:16Speaker 00

  Yeah, like get, get together.

• 44:18Speaker 02

  Okay. Um, at Rye3done, what is your least favorite part about having a podcast?

• 44:26Speaker 00

  Least favorite. I I I got no complaints. Like even the things that are-

• 44:30Speaker 02

  Even when I walk behind you in the kitchen?

• 44:32Speaker 00

  Yeah, like, I mean, like, even the parts that are, like, less desirable are still awesome. I literally have no complaints at all. I say it all the time, it's the most selfish thing I do. I learned so much from the podcast. I record the conversation so other people can hear it. But ultimately, I'm asking the questions I'm, you know, intellectually curious about. And so it's super self-serving from a learning perspective for me.

• 44:54Speaker 00

  You know, very thankful that all of you listen to it. You know, literally, thank you. That's why I'm doing this right now. Trying to answer as many questions as I can. But ultimately, there's nothing that I can complain about. I got a pretty good life.

• 45:05Speaker 02

  You do have a great life. Um, at C Glota, who outside of your-

• 45:11Speaker 00

  Tom did. What's up, man? He's been on the podcast.

• 45:13Speaker 02

  Oh, cool. Who outside of your immediate family has most influenced you in life and how?

• 45:19Speaker 00

  So I saw this, this little cheating here. No, Plin is my family, so she doesn't count. But what I would say is-

• 45:27Speaker 02

  Good cover for not answering me.

• 45:31Speaker 00

  What I would say here is the most influential people are actually people that nobody would recognize. When I went to Iraq at 20 years old, there was a number of guys who, it sounds cliche, but like, they literally forced me to grow up and like, not necessarily like become a man, but in the sense of I was a 20-year-old, like shithead kid playing college football, going to class barely, and like wondering like, when's the next party, right? And then I was thrown into this environment where I deployed with a number of guys who are much older than me, many of them kind of in their early to mid 30s. They had wives, they had kids, they had mortgages, like they were, you know, grownups in my mind.

• 46:16Speaker 00

  And I used to give them shit about, like, you guys are old. But really what they ended up teaching me is they taught me about pressure responsibility. You know, frankly, they helped keep me safe. I hopefully kept them safe. And they basically just gave me this edge of like- No bullshit. We get things done and we're going home. And I think that that like mental fortitude or mental sharpness and kind of strength. Hopefully I still kind of use it today, but you know, guys like, if they're listening, they'll get a crack out of this. But guys like, you know, Tony Weber, Mickey Lee Stormer, Cash, you know?

• 46:57Speaker 02

  Cash? I like that name.

• 47:00Speaker 00

  Yeah, we're not gonna use his real name. We'll just use Cash.

• 47:03Speaker 02

  Okay.

• 47:04Speaker 00

  You know, there was all kinds of guys, like, literally, I can think of so many, and I'll just use them because they were probably the ones I was the closest with. But I think they're probably the most influential in that sense.

• 47:16Speaker 02

  That's cool. I like that. Second best to me. But yes, I like that. At Deep Pop Off. Oh.

• 47:25Speaker 00

  Deep Pop Off.

• 47:25Speaker 02

  Seven. Seven. Have you been in Bulgaria? If yes, what did you like the most? And please don't say the identical donkey carriages on the streets.

• 47:34Speaker 00

  Yeah, I've been to Bulgaria a couple of times. I don't know what, three, four times now. And the part that I like the most is, it's what I like about everywhere. Like, humans are human. So you can literally go anywhere in the world. I don't speak, though, I don't know what I know. I know five sentences, seven sentences, something like that. I can basically say that Clinton is annoying me. I can tell everyone in her family, I love them. I can tell every woman in her family that they're beautiful. I can ask for the bathroom is, I can say no.

• 48:02Speaker 02

  You could say yes.

• 48:03Speaker 00

  Yeah, I can say yes, like, and I've got down the fact that Bulgarians, when they are saying yes, they shake their head left and right. And when they say no, they're nodding up and down, which is the opposite of Americans. So like, I'm pretty well versed for an American dude. But I think that just like, from a human perspective, it doesn't matter if I speak the language or not, like, you can just get along with people. And it's pretty cool just to see kind of that humanity in other countries.

• 48:30Speaker 02

  He struck a friendship with my grandmother's, like, eighty-five-year-old neighbor, who has all sorts of animals in his thing. And he always asks about him and...

• 48:40Speaker 00

  Yeah, that's my guy. Uh, the second, the first time I ever met him, I don't know if we're to sorry, but the first time I ever met him, I was sitting in her grandma's villa, not her.

• 48:48Speaker 02

  Villa.

• 48:49Speaker 00

  And all of a sudden I heard a commotion behind me and I, you know, I'm an American dude. I just jumped up and was like, what the hell is going on? And all of a sudden here comes this guy, uh, you know, relatively older, um, kind of bumbling in and he's got a, uh, a wheelbarrow. And it's covered with a piece of tin on top of it. And the guy's literally got on like Adidas slides, sandals, a, uh, sweatpants. Like kind of an old looking jacket and a, uh, a hat, like a winter hat. And, uh, you know, looks like me, maybe he didn't shower the last couple of days.

• 49:22Speaker 02

  He was awesome.

• 49:23Speaker 00

  Yeah. And he, and he comes in and so like, I didn't know who he was and Plin wasn't standing there. So I couldn't be like, who is this guy? And all of a sudden he's got this grin on his face. He's just looking at me and he's like hype. And I'm like, okay, I think this is like a friendly situation. Uh, and then her grandmother comes and Plin comes all the stuff and they're like, oh, he's the neighbor. He's the neighbor.

• 49:41Speaker 02

  And they're like help with the wheelbarrow.

• 49:42Speaker 00

  Yeah. Help with the wheelbarrow. So I'm like helping with the wheelbarrow. What the hell is in this thing? It's like pretty heavy. And all of a sudden this guy, like he can't wait till I get the wheelbarrow down into, uh, kind of like near the door. And all of a sudden he starts pointing at me, pointing at the wheelbarrow and he pulls off the tin and in the tin, uh, underneath the tin in the wheelbarrow was literally, he had taken one of the sheep that he's.

• 50:02Speaker 02

  It's lamb. It's lamb.

• 50:03Speaker 00

  Oh, one of the, yeah. Basically what he's done is, uh, he has literally since birth, taken care of this animal. Uh, and he killed it and cooked it because I was there.

• 50:14Speaker 02

  So crazy. It's just lamb.

• 50:16Speaker 00

  Oh yeah. But, but like, but the fact that like, he was, he was so kind and like, and he was so happy. Like literally he was happiest doing something for somebody else. Uh, it was just a really cool experience.

• 50:28Speaker 02

  They paid him for it, but yes, it was a kind gesture.

• 50:30Speaker 00

  Oh, they paid him?

• 50:31Speaker 02

  Yeah.

• 50:31Speaker 00

  Damn. They tricked. I thought the guy just liked me.

• 50:35Speaker 02

  He did, he did. He knew Americans.

• 50:37Speaker 00

  Yeah, now he liked, he liked the money. Okay, I see how this works.

• 50:40Speaker 02

  At Equity Pool, what are your goals that you've set for your podcast YouTube newsletters over the next five years?

• 50:47Speaker 00

  I don't do five year goals. I pretty much only set goals for the year and even that's like a stretch for me. A lot of times it's just, you know, a month to six months, mainly because the world changes too much in five years. And like my personal interest changes so much. Like today, I'm thirty two years old. And I have a fiance, but not married, no kids, etc. Like when you're five years later, your life is so different. So how can you actually set a goal? That's five years away. That's pretty hard. And the second of all is like things change. So like, what's a newsletter today? That platform may evolve or do something different. So it's just really hard to set those goals.

• 51:27Speaker 00

  In terms of this year, the goals were to get the podcast to a million downloads per month. We already hit that. To get YouTube to a hundred thousand subscribers, which is gonna be like a twenty X for us. We're at like seventy five, seventy six thousand. So we're kind of ahead of schedule there. And the newsletter, I didn't really set any goals. It was more of just like, basically just keep consistently pumping out the content every morning. And to me, that's more of like a discipline and consistency thing. And so far, we've kept that. So, so far, so good for the year. But, but I, I don't know necessarily what all of this becomes. I don't have some master plan. I just kind of keep rolling with the punches and making decisions on a day to day basis. That I think is the right thing to do.

• 52:09Speaker 02

  At James Lack six, what are you, what are you optimistic about for twenty twenty one and beyond that? Others may be more bearish outside of Bitcoin.

• 52:19Speaker 00

  I'm long humans and long America. Like I, I generally think that right now, a lot of people are looking around and being like, man, America is getting torn apart, like civil wars on the horizon. You know, innovation has gone out the window. There's an incredible encouragement on civil liberties and personal freedoms. You know, all the things that you just see people talking about. I agree with a lot of that stuff, actually, in the short term, but just over a long period of time. I tend to be just very, very long American ingenuity, creativity and entrepreneurial spirit. And so that's probably the one that right now, especially in an economic shock, a pandemic, all this crazy shit that's going on in twenty twenty. I tend to be pretty optimistic over a long period of time.

• 53:00Speaker 02

  But what do you think that, do you think that, um, you know, especially if uh, America becomes more closed off and we don't allow immigrants in as much as we used to, do you think they'll go to other countries and build businesses?

• 53:13Speaker 00

  I don't worry about that as much because I don't think that that's a long-term sustainable thing is to close off your country.

• 53:19Speaker 02

  Okay.

• 53:20Speaker 00

  I generally think that the internet and other technologies are globalizing the world rather than nationalizing uh, things. Yeah, sure, there's certain, um, whether it's politicians or individuals or wealthy elites, you know, whatever, that that want different things, but generally the trend is towards globalization. Um, and we also live in the most prosperous, safe time in human history. Like, if you look at the long-term trends, uh, that tends to be good. To look at demographics, like Peter Zeahan talks about this a lot, demographics, the demographics of the United States are incredible compared to a lot of countries around the world. Um, and it generally is just summed up as like, if anyone's gonna get through this, it's America. And if we can't, then, okay, then everyone else can have a really hard time, too. That, and by the way, that's not like American exceptionalism in terms of like, we have to win, everyone has to lose.

• 54:04Speaker 00

  It's more so like, it's not a binary game, and I grew up here, I was born here, I live here now, and so I generally wanna see like, my fellow citizens and my country do well. Uh, it doesn't have to be at the expense of other countries, I actually wanna see everyone do well. It just feels like, uh, I spent a lot of time evaluating and analyzing America, we have all the ingredients necessary to be successful in the future.

• 54:28Speaker 02

  Is this your platform for 2024?

• 54:30Speaker 00

  No, you guys ain't gonna see me.

• 54:32Speaker 02

  Okay.

• 54:33Speaker 00

  I, I would like go to one debate and I would drop like six F-bombs and just be like, you're an idiot.

• 54:38Speaker 02

  And then, then it works with censor you and then, okay.

• 54:40Speaker 00

  Yeah, and then they'd be like, you're not invited back.

• 54:43Speaker 02

  At Ion Entrepreneur, within a nascent industry that is attacking legacy systems for finance, how do you position building your brand and thought leadership for blockchain slash crypto and entrepreneurship in general?

• 54:56Speaker 00

  Yeah, a lot of people ask me about this brand building stuff like I don't think about it. I don't focus on building my brand. No, I just.

• 55:03Speaker 02

  No, you accidentally built or not accidentally, but by writing a newsletter every morning, that is your brand.

• 55:09Speaker 00

  Yeah, but I I just the the lesson I have for everyone is just like, just be you like I literally say what I believe. And a lot of people censor themselves. I if I say I actually believe it. And that gets a lot of people in trouble. Look, I've said things that people like attack me and get upset, whatever. Like, I don't care. I literally do not care. I'm gonna say what I want to say because I want to say it. And you know, Flynn and I have both talked about this before, but like I genuinely believe the most the utmost form of freedom is to have your identity tied to your personal name. So when somebody asks me, who are you? I don't say, oh, I'm an investor, or I've got this or that or what like the those are things that I do. But my identity is tied to my name.

• 55:53Speaker 00

  Um, and I tend to think that that is, uh, you know, kind of quote, quote, a brand, but really it's just the just being authentic. And that's what's been able to, uh, to put me in that position.

• 56:03Speaker 02

  Okay, how many more questions do we have time for?

• 56:06Speaker 00

  Uh, let's keep going.

• 56:07Speaker 02

  Okay.

• 56:09Speaker 00

  I promised you I'd answer as many as I could.

• 56:11Speaker 02

  Okay, Kimberly Joelle at You Are The Wealth, what is your why?

• 56:16Speaker 00

  I just want to have fun. That's literally it. I want to have fun and be happy.

• 56:20Speaker 02

  I can attest to that.

• 56:21Speaker 00

  Like people, uh, people in every walk of my life had asked me this question. That's genuinely what I want to do. Is, uh, I want to just have fun and be happy. And other than that, I don't care.

• 56:31Speaker 02

  I still remember we were at this panel place and this, uh, bougie guy was like, what, why are you doing this? Like, what what's the point of all this? And he was like, I just want to be happy. And he was like, no, like for real, like, I'm not joking. Like, what's the point? Like, what do you actually want to get done? It's crazy.

• 56:48Speaker 00

  He was shook when I was like, no, see, like, you may not actually be doing it for this, but that's literally it. And by the way, that also means like the day that I stop having fun or being happy, like, I'll just stop. I'll literally, one day I'm gonna wake up and just be like, yep, that's it. I'm not writing newsletter anymore. I'm not doing the podcast. I'm not tweeting anymore. Like, see you guys. And, uh,

• 57:06Speaker 02

  Whoa.

• 57:07Speaker 00

  I'll keep doing that until, uh, until I stop being happy or or having fun. I don't think that's gonna happen anytime soon, but that's just generally how I feel.

• 57:16Speaker 02

  At Dakota's tweet, do what you're good at or do what you're passionate about?

• 57:21Speaker 00

  I think you generally are good at what you're passionate about, mainly because you just spend so much time on it.

• 57:27Speaker 02

  True.

• 57:27Speaker 00

  I I I don't know. Yeah, I'm sure there's, you know, the outlier situations like, hey, I I'm passionate about basketball, but I'm five, six. Well, like, yeah, sure. Okay. But like, you could do other things in basketball, right? You could be a coach, you could be a referee, you could, you know, be a sports analyst, do whatever. So I I just. I think these are all like false dichotomies in terms of like what you're good at, what you're passionate at, just like, just do the shit that makes you happy. Right? And like, whatever that is, like, I promise you, you'll end up being good at it.

• 57:54Speaker 02

  And and the beauty of it is, like, for example, uh, with the profile, I write this newsletter every Sunday, and I've been asked, aren't you afraid that somebody's just gonna replicate it? And it's like, because I'm so passionate about it, and because I know just how many hours I put into it, and it's hard work. I'm not afraid of that because I just, I know that nobody would be able to do the work if they're not passionate about it the way that that that I am.

• 58:18Speaker 00

  Of course.

• 58:19Speaker 02

  Okay, I J so VR, trying to get my daughters sixteen and fourteen excited about blockchain and its future. Any suggestions on motivating them and the best platform for them to learn more about it?

• 58:32Speaker 00

  Yeah, I I again, like, I don't have kids, so it's hard for me to kind of say, hey, this is what you should do.

• 58:37Speaker 02

  Young person.

• 58:38Speaker 00

  Yeah, what what I generally think the best thing to do is actually start with the problems. Um, and if you explain to them things like what's going on in Lebanon right now, where they've seen the currency class one of the fifty percent. Um, I tend to think that's interesting. The second thing is, um, part of me says, like, don't force them to learn about it, right? Because I I think that it's really hard to do that. Instead, what you basically want to do is you want to just give them the technology, like, young kids are so digitally native that they'll figure it out. And so, like, just give them some Bitcoin and see what happens and and just watch for a little bit. And I bet you that they end up figuring it out, like, going Cash App or something. Um, and next thing you know, they'll start telling you, like, what stores accept Bitcoin, all this crazy stuff. So I I don't necessarily if there's like, oh, go read this book or do this thing.

• 59:21Speaker 00

  Um, as much as it is just like introduce kids to it, expose them to it, uh, and then just kind of let them run wild. Like, they're so smart. Uh, literally, kids come up to me all the time, and I'm just like, Jesus.

• 59:32Speaker 02

  Kids out there.

• 59:34Speaker 00

  Literally, you know how to do things with my phone that I didn't even know existed, right? And I tend to think that I'm pretty well versed in a lot of this stuff. So, um, I think that's what I would do.

• 59:42Speaker 02

  At James Whiteneck, same question you asked to end Alex Spetsky podcast. What's one thing that you haven't seen yet that you wish was written about, thought, or explored?

• 59:53Speaker 00

  Uh, this is gonna be very controversial, but I think that there's a massive problem with the mainstream media or legacy media right now. Um, and the number one thing I think that could expose that, uh, and expose it not in like a attacking way, but just an understanding. I actually think this is an academic issue. This is not a like, who can dunk on who on Twitter? Um, I think that the way that, uh, things have been covered, um, has changed drastically. Some of that is out of necessity from a business model that's been well-covered, um, in a bunch of, you know, analysis and pieces and things like that. Uh, some of it's also the changing of the platforms. So obviously the way that you write is going to cater to whatever platform you're using.

• 1:00:32Speaker 00

  Um, and what I would love to see is, um, a analysis on, uh, things like what words have been used, sentence structures, length of articles, uh, topics that are covered, how frequently, by what publications? Like, just like a super deep data-driven analysis of how the legacy media has changed over, let's say, the last 50 to 100 years. Um, and it's, I want to make sure that it's clear that like, I actually have an open mind and like that change. I could be sold on the idea that it's actually a positive, not a negative, right? It's not necessarily that it has to be a negative, uh, outcome because of it, but I do think that there's been a big change.

• 1:01:10Speaker 00

  Um, and so it's one of these things where like, I think a lot of people, including next city, next to me is a former journalist at a very well-known publication. Um, it just feels like, uh, we don't have a good understanding of the data of what's changed. It's all anecdotal.

• 1:01:25Speaker 02

  But what would that, what would that help or tell you?

• 1:01:28Speaker 00

  So one of the things that I've seen that got me thinking about this is, uh, I won't say who it is, but somebody showed me a study of, uh, the use of, uh, what they categorized as like woke words or left-leaning words. So literally like the word woke, right? For example, they analyzed after the New York Times put up their paywall, how many more times they started to use those words, uh, and there was like an explosion. It wasn't like, oh. Twenty percent more. It was like.

• 1:01:54Speaker 02

  It's because they're catering to the audience.

• 1:01:55Speaker 00

  Percent more. Yes. So what ends up happening is the explanation, whether it's accurate or not, uh, that was in this study. Basically was explaining that, um, well, if you have a paywall, people pay you, you're gonna write to keep the subscriber rather than write things that they don't like. Cause then they'll unsubscribe. And so naturally it just pulls you in a direction, right? So left leaning people start writing more left leaning stuff, right leaning people start writing more right leaning stuff. Whatever. And so you kind of get pulled to the extremes. Um, my guess is that that's like a very small difference. Uh, and part of this is like from me looking at it with an open mind. It's like until we have the data, it's really hard to make. Kind of, um, conclusions on like, here's what's happened, right? Or like, is it good? Is it bad? It's not. It just feels like it is different.

• 1:02:40Speaker 00

  Um, and it would be actually interesting to see like the data show us that it's not different, right? But like. The fact that we're humans and we're idiots and we're really bad at predicting the world and understanding the world. We need the data to understand what's changing. So I think seeing that would be interesting. Ah, you think it'd be interesting too? Nice.

• 1:02:58Speaker 02

  Uh, Frank the Bull and one. What happens when central banks' balance sheets explode?

• 1:03:05Speaker 00

  Uh, well, I mean, we've seen this, you know, many times before, uh, but look, at the end of the day, every empire falls, every currency fails. Um, that's inflationary. And so I think what we're gonna see is the same stuff happen. Like we, again, live in the most prosperous, safe time in human history, um, and hopefully that stuff doesn't happen in my lifetime. Like it's super selfish. I don't wanna see world chaos, right? Like, I don't wanna see the US fail. I don't wanna see the US dollar failing, any of this stuff. But at the same time, like just history suggests that the trends that we are following, uh, we haven't learned from history, right? We basically have an inflationary currency that we continue to devalue. We've got a, you know, global monetary, uh, military complex that.

• 1:03:45Speaker 00

  Uh, is amazing until it's not, um, and ultimately, you know, every country that ends up dominating the world ends up falling at some point. And so like. You know, I'm, I probably got about fifty to sixty more years of my life. Like, let's hold on to it till, till I'm gone. But, uh, but, but I just generally think that. Eventually that stuff's gonna happen. And so central banks balance sheets exploding like, is it really dead if we're not gonna pay it back? And I think it's hard to argue at this point, twenty plus trillion dollars, we're actually gonna pay back the, you know, US debt. And so some people argue like, it doesn't matter because you can always just print your way out of it. Some people argue that, you know, literally you're gonna default on the debt. Who knows? But what I will say is just like, I, I think that we're, uh, we're headed in the wrong direction, rather than the right one.

• 1:04:29Speaker 02

  At Ulysses LF99, what keeps you going after the setbacks?

• 1:04:35Speaker 00

  Again, I'm just, uh, just having fun. Like, uh, the setbacks are, yeah, they're super frustrating in the short term, but I always just kind of look around. I'm like, I got a pretty good life and I don't really work about, worry about that stuff. Nor do I get super stressed. So it's kind of chill.

• 1:04:52Speaker 02

  At E O N Fitzgerald nine, what does the exit scenario look like for you? Can you retire from creating content? What would you do if you're not doing this?

• 1:05:03Speaker 00

  Yeah, literally one day I'm gonna wake up and just stop.

• 1:05:06Speaker 02

  But like, what are you gonna do after that?

• 1:05:08Speaker 00

  Just sit and read, hang out with my friends, hang out.

• 1:05:11Speaker 02

  So you genuinely do it because you want to do it and because you're learning?

• 1:05:17Speaker 00

  Of course. I, everything that I do, but people forget, like, everything I do is I'm learning. So when I'm writing, I'm learning or exactly to go read a bunch of stuff and understand it and, and kind of put my thoughts down on paper, all that stuff. Uh, the podcast, same thing. Twitter, like Twitter's an amazing learning engine in terms of I can put the ideas out in the world and immediately get feedback on them. You know, everything is just learning and, and, uh, it's not that I'll stop wanting to learn. It's just that at some point I'll literally just wake up and be like, this way of learning is not fun anymore. I'm gonna go do something else.

• 1:05:47Speaker 02

  All right. Question from Shoe Dog Millionaire at S H man underscore D. Why do you use a tornado emoji in your Twitter bio?

• 1:05:58Speaker 00

  Uh, I think I put it there because like tornadoes just kind of like, go through places like screw stuff up and then just like keep on going like they're just like literally on a warpath. Uh, and they get where they're going and nothing can stop them. Um, and I put that up there like years ago and I just was like, I'm never taking it down. And so it's been there so long, I kind of feel like I would, uh, I'd be cheating on myself if I took it down at this point.

• 1:06:25Speaker 02

  Okay. Oh, man.

• 1:06:28Speaker 00

  What company is my biggest stock position? Somebody responded to it already, but yeah, I'm not in the public market. Some of the public stock I own is GBTC in my, uh, some of my retirement account. Um, and I don't own any other public stocks.

• 1:06:41Speaker 02

  Okay. Uh, I think you've answered this, but what, uh, at King Yee's three, what percentage of your own net worth is in cryptos?

• 1:06:49Speaker 00

  Uh, it's more than 50% uh, and it's all Bitcoin.

• 1:06:53Speaker 02

  Yeah.

• 1:06:54Speaker 00

  Yeah, it's all Bitcoin, 50%. Uh, there's two financial systems. So there's a legacy financial system and there's an alternative financial system. The legacy system is an inflationary system with the US dollar is the core unit of account. The alternative system is a deflationary system that has Bitcoin as the core unit of account. Uh, I believe that there is at least a 50% chance that the, um, deflationary Bitcoin based system is going to be the, the new system in the future. And so I'm willing to take a 50 50 bet. Uh, it's a little bit more 50 than 50 50, um, on, uh, on, on kind of the Bitcoin world. And if I'm wrong, I understand also the risk that I will lose 50% of my net worth, but I'm comfortable doing that. I'm a relatively young guy, uh, and I tend to think that, uh, I'll make it back pretty quickly. So not worry about it.

• 1:07:40Speaker 02

  At Anwar Adoucher, how will crypto relate with third world economies, be it in wealth distribution or use cases?

• 1:07:49Speaker 00

  I think everything, like the system changes and so therefore you'll get a complete, uh, redistribution of wealth in terms of, uh, there's a lot of people who hold Bitcoin who aren't necessarily wealthy in US dollars and they did everything from earning it to mining it, to buying it, whatever. Um, and if it becomes a global reserve currency, there's a lot of wealth that'll get created, obviously. Um, but on top of that, uh, I also think that there is incredible resetting of the economies. And so, um, you know, I, I just think that it was, uh, it, it is kind of all encompassing. And then the other thing I'd say is I also think Bitcoin is a market expanding technology. So if you look at Uber, if most people looked at it, they would have compared it to the taxi industry at first. It ended up not only, uh, kind of attacking taxis, but then literally now people don't have cars because they use Uber.

• 1:08:34Speaker 00

  All the time, right? And so it was a way to expand the taxi market or the total adjustable market was much bigger than people originally realized. I definitely think Bitcoin is going to be much bigger than people realize. The total adjustable market is not just the money supply. But I actually think that the total adjustable market is all store value assets. So things like real estate, like art, etc. Can all get a lot of that value can get sucked back into a hard currency or kind of a sound money currency. Like Bitcoin. And so I tend to think that it's a hundred plus trillion dollar opportunity. We're currently sitting at about, you know, call it $200 billion. So we got, you know, a long, well, I mean, it's 500x. But now 500x is not going to be a straight line.

• 1:09:15Speaker 00

  I tend to think that it's going to be incredibly volatile. And when I say, uh, you know, 500x kind of is total adjustable market. Doesn't mean that Bitcoin captures the entire adjustable market. It could only penetrate a small percentage. And if it does reach a high percentage of the market, it could take decades to do. So literally, this could be a 50 plus year exercise. And so, um, you know, I say all of that when I, when people hear me say 500x type potential. Don't think that that's going to happen overnight. Please don't make investment decisions based on this stuff. I have no clue what I'm talking about, all the normal disclaimers. But, but I do think that that's kind of the, the ultimate bull cases, um, kind of what the adjustable market looks like.

• 1:09:53Speaker 02

  All right. So I think we've gotten through most of everything. Awesome questions, guys. Um, at Supermars87 asks, in-depth thoughts on aliens?

• 1:10:04Speaker 00

  Yeah, I mean, I've pretty much shared this stuff. So, uh, I believe aliens are real in the sense that other intelligent life exists somewhere in the world. Uh, or in the galaxy, I guess. Um, the, I, I am personally fascinated with just the expansiveness of space. And my biggest question is not whether they exist or not. I think that it's a pretty, um, you know, mathematically easy to prove case that it is highly probable that they exist. We don't know with a hundred percent certainty, but, but definitely very probable. My bigger question is just, uh, are we on the same time scale? Meaning that, uh, do we as humans exist on this specific planet at the same time that intelligent life exists on another planet?

• 1:10:46Speaker 00

  Or instead, do we end up living, um, at a certain time in kind of the, the timeline of all of these galaxies? Uh, and the other intelligent life ends up living, uh, and existing is just on a different time scale. So, you know, they come 100 billion years after us and we never actually kind of cross paths. Who knows? Super interesting to think about. You know, Bruce Fenton came on, he's an ancient alien researcher. And he said, the two questions that every human asks during their life is what happens after we die? And are we here alone? I think that's a great way to kind of look at from a framework standpoint. And the second thing is, I've got a friend, Alex Clocas, who basically says all the time that probably at this point,

• 1:11:28Speaker 00

  the most important discovery that could happen in human history is the discovery of other intelligent life, more so than figuring out how to solve cancer or any of that stuff. Not so much that it would have an impact, but just it would drastically change the way that billions of people look at their life, the world, and how we relate to kind of space. So I tend to think that people like Tom DeLonge and others who are spending a lot of time, money and resources and mental energy on this are doing really important work. And, you know, that's why I ask everyone about it is because I'm just looking to learn.

• 1:12:00Speaker 02

  Okay, final question.

• 1:12:02Speaker 00

  Good, because I'm losing my voice.

• 1:12:03Speaker 02

  At classic Raz, what are the Westerners' views on crypto adoption in Africa? And what is your overall view on the African economy?

• 1:12:11Speaker 00

  I think Africa as a continent is going to be one of the most important continents. And it's mainly because most of the use cases in the United States specifically are more around speculation and as an investment asset. But actually, when you look around the world, there are many places and many of them are developing countries. Obviously, Africa has a lot of those where this is like actually needed on the ground in terms of having decentralized technology to settle value as a medium of exchange and also to serve as a true store of value where you can have 100% certainty that no one is manipulating that currency. And so from that standpoint, I tend to think that Africa is really important.

• 1:12:54Speaker 00

  Some people know this, some people don't. I went to Nigeria about three years ago. I spent, I think it was a week or two there, and I was blown away. I was blown away by one of the demographics, how fast it was growing, how big the country will be on a population basis, how young it is, how technologically advanced it is. And also I was blown away just by, I think, the intellect. actual curiosity again of people. I mean, I literally went and watched a football match in someone's backyard at like a viewing center where they had hooked up a bunch of TVs with satellites in their backyard and had built like almost like a cinema, if you will, or like a watching state center. I went and I went to a betting area where literally people were betting on video games that were being played on simulation mode.

• 1:13:36Speaker 00

  I went to Computer Village. I went all these different places. And so it was just a really, really cool experience, I think, to see how people who grew up in a very different lifestyle than me on an entirely different continent that most people don't go to. Yeah, kind of what their life's like. And frankly, it when I left, I actually wrote a piece, I think, on Medium or something that said, like, Nigeria is going to be one of the technology hubs of the future. And I tend I tend to think that all the trends and value and kind of good things that Nigeria has going forward, there's a lot of other places on that continent of Africa. You know, kind of apply there as well. So super bullish on the on the entire continent, really.

• 1:14:14Speaker 02

  Awesome.

• 1:14:15Speaker 00

  Anything else?

• 1:14:16Speaker 02

  That's it.

• 1:14:17Speaker 00

  No. All right, guys, do me a huge favor. Go check out BlockFi, blockfi.com/pomp. Go check out Choice, retirewithchoice.com/pomp. And go sign up for the newsletter if you're not already signed up, pompletter.com. That's it. Appreciate you guys listening. Thank you so much, Taplina, for helping. Sorry that the lighting sucks. The video quality sucks, but we're doing our best here and want to do this again. And I'll leave you guys with one parting word, which simply is just thank you. I guess that's two words. It's one saying. Just thank you guys for listening. Super, super helpful to me. Obviously, I really enjoy kind of all the back and forth on Twitter, responses to the newsletter, everything. And hopefully you guys are learning a bunch. So I appreciate it and I'll try to do these more often, but just thank you.

• 1:15:02Speaker 02

  Woo.