MARKET UPDATE: Hot Payrolls, Hotter Memecoins, And Se From FOMO Talks The Future Of Trading

0:00AI is getting better every single quarter, right? The scarce resource is no longer attention because now there's so much interest in content. It's also good, you know, AI is like commoditizing it entirely. Now you need something else to like view as the source of truth, which I think is going to be capital. It's going to be risk. It's going to be who is right publicly, who is taking dollars, who has been able to like validate their thesis in real time over time. And now you create this new social graph where like the top people at this platform are not producing content but they're producing trades. It's the highest intent social graph that will ever exist. Hello, sorry. I accidentally muted the mic to start. Welcome. We are starting. We got five minutes until say, coming on. Thank you guys for telling me that I'm on mute.

1:01This mic, it's got like a little button here that if you touch it, you accidentally you accidentally go off. So that seems to have happened there. But guys, we have such a fun show today because there's a lot happening in the market, whether it's macro, crypto, memecoin trading, ZCASH, absolutely ripping, finally at $1,000 that's been totally nuts. I've got all my notes here, my legal pad. How are we doing today? Is everyone having a good Friday? People are having a good time, popping the chat. This is going to be more of an interactive show than normal because it's just me talking to the camera. Unfortunately, Jonah is not here. And I'm sorry for all of you watching on YouTube. The thumbnail is a lie. I don't have a mustache anymore. Fully clean, shaving, got the suit ready so I can talk memecoins looking like I know what I'm doing. You've got your fellow Unk here to talk to you about what's happening in the markets. I mean, look, we started off today pretty well. We started off with a super hot jobs report. That was really great. You see

2:04unemployment is at 4.1% where economic data is coming in great. And that is leading traders to sell gold. And to get a little bit nervous that the Fed is actually going to hike in September. This has been kind of interesting to see basically as you guys all know, last last month in August, or maybe two weeks ago at this point, Besson comes out and basically says that he can spend up to a trillion dollars to protect the long end. This is obviously not what the Fed wants to see. This is putting the treasury at odds with the Federal Reserve, which we have not really seen too much of that in history. And I think what that did is it really damaged the credibility of the Fed. And this jobs data is going to make it even harder, I think, for the market to not react to that. I mean, for warships specifically to not react to that data. I think that the probability of hike obviously is higher now. But honestly, that kind of means nothing because

3:09what's happening right now is that meme coins are going absolutely ballistic. crypto is going absolutely ballistic. And it's all because I think what we're seeing is we're genuinely seeing new money flow into the space for a variety of different reasons. What's kind of fun is that for the first time in a very long time, we're actually seeing a variety of different reasons for crypto going up. When it comes to Bitcoin and Zcash, these are just monetary assets. And you're seeing them go up because of the debatement trade. You're seeing them go up because of what is deemed as monetary irresponsibility. You're seeing a meme coins do really well because of the rise of social trading. I mean, you have platforms like FOMA, which we're going to talk about in a second really drawing in. I think new players into the game. They're doing an amazing job on marketing. Bringing in people that were not in crypto before that are now trading crypto on the RWA side. You're seeing an explosion from Robin Hood chain, which honestly guys like I love seeing this happen.

4:14I think in previous bull runs, we've had this issue where everyone was always playing within the confines of crypto. And every now and then what you would get is you'd get a flood gate of people that run into crypto, they speculate on Salona, they speculate on base. But at the end of the day, these are crypto companies serving crypto users. And now we have a chain that is effectively a traditional institution. And I'm going to call Robin Hood an institution. I know that sounds funny, but it really is now. It's embedded in the traditional financial system. And they're able to reach a new set of market participants and guys. I mean, Vlad is standing behind this chain. You saw this morning he got into a little bit of a tiff with the AMC CEO, so the AMC CEO, Adam Aeron basically comes out and says, Hey, I don't think that tokenized securities are smart. You're you're taking away my ability to control my stock. You're running a foul of securities laws.

5:17You're making things in the financial system scarier and more dangerous for people. And Vlad basically comes back and says, seriously, what is your issue? I really don't think you know what's going on. And now their lawyers are publicly going at it. And that is just really, really, really funny to see. But what I think the key takeaway here from all of that is really that Robin Hood views crypto as the next stage in finance. And they're willing to step up to that and defend it, even though right now what we're seeing is mostly we're just seeing meme coins pop off. I think that everybody knows that that's going to change in the future. And we're going to get an absolute explosion of tokenized stocks of activity that really blends crypto and tradfi. But before we get into that, we do have a really special guest here, the co founder of FOMO. We've got say, who we're going to bring on say welcome to the stream. Super happy to have you. It has been an amazing week for FOMO.

6:19Yeah, thanks for having me, man. I wish I had the view you had going on back there. But yeah, things are good. I got to convince people that to take me seriously. So you got to we got an office here in New York. That's a that's a statue of liberty right there. Yes, I found that you kind of need to incentivize yourself to come into the office. And that's this is how I do it. I'm here for some. And great commentary, by the way. I'm actually tuning in for like one of the first times I've listened to the pod, but haven't heard the like kind of the macro market new stuff. And this is awesome. I'll definitely be back. Oh, I appreciate that. Yeah, you know, it's been fun. We've been doing this pod for three years. We started as a crypto exclusive pod. That's all we talked about. And now we bring in a lot of macro. We bring in a lot of tradfi as well. And it's really because the worlds are sort of colliding right now in a way that we haven't really seen before. And that's actually what I wanted to start off by talking to you about. You tweeted something recently, specifically saying as I've been trading more equities, I've realized that basically the entire market is attention. And I wanted to give you a platform to really talk

7:22about that a little bit more like what did you mean? Like what are you seeing in markets in general that make you say everything is about attention now? Yeah, I mean, I think that as advanced as capital markets are, let's say even in traditional equities, I do feel like there's probably fragmented buckets of attention that go on from different things whether it's like memory or a period or crypto or financial services or banks or whatever. And I think in particular, in the case I was describing was I was trading on Robinhood actually. And you know, that's that's where I actually where I keep a lot of my funds. And I was buying some stocks and I was in a place where I'm like, okay, I'm going to just go all on on hood. And the core reason for that was sequencer revenue, right? Like I have actually a post in my company Slack from the first day Robinhood launch to where I was like, hey, like if they get this to become another $100 million business line and they're able to actually monetize this flow well, like we have an edge here, right? Like people are not looking at on-chain data to understand, okay, what is Robinhood's revenue, what is going to increase this over the next, you know, one to three months, six months, etc. And I think that that's an edge that we have. So in a lot of ways, like I'm trading attention,

8:25I'm trading are the right people when the people who are actually, you know, moving money in size in this market, looking at things like this, probably not. This is not where their attention is. They might be looking at prediction markets on Robinhood. They might be looking at memory stocks. They might be looking at XYZ. So I do think that like this is an area of the world where like, you know, we as crypto traders have a little bit more sharpness to the details. So in some ways, like the attention caught up and you saw Robinhood rip like 18% over here today. So I think the world is still a little bit behind on what this looks like. But in some ways, like everything is trading attention, whether it's on a micro macro scale. Yeah, now it's been really amazing to see back in like 2021, we used to say that crypto would become more like the equity markets. And now I think the equity markets have become more like crypto. I mean, you're seeing narratives play out on the order of like three to six months. I mean, obviously you had that massive AI trade that came off a ton. It was just because people were really excited about all the frontier models that were coming out. And now it seems like crypto has really taken the take in the attention away from the rest of the equity markets actually driving the equity markets in some fashion. I mean, like the new hot thing

9:29in the moment, Robinhood chain has really taken over foam-wot trading volumes, you would say, right? Are you seeing? So I guess like tell me what you're seeing in the world of in the world of foam. Like what are people interested in these days? Yeah, I think Robinhood chain has kind of taken its own DNA where I think you've mentioned this, but like there's so in a pair of a lot of different things, right? Like it's not just pure memes. There's now memes that are based off of stock token pair based. There's like memes that are, I would say like throwing it back to like old GMEMC, et cetera, days. And I think there's just like a different set of things that people are getting attention on. Like cash cat is just a plain meme, pons is launch pad. And there's not a lot of overhang here, right? Like people haven't at the time to like develop these like sophisticated tools to, you know, hide different wallets, applies or bundle these things discreetly or figure out the mechanisms that can actually give them another line advantage. So right now it feels like a pretty free market. And that's where a lot of detention is. I think in a lot of ways like the Robinhood team's job has been like stay out the way and be very tactical about when they engage,

10:31whether it's a follow or a listing. And I would like to say they're pretty much doing a masterclass for not being super crypto native. Yeah, I want to take a step back first. I can just talk about sort of the birth of FOMO. And how you decided that we needed a social trading platform. I mean, social trading, obviously you had some companies in the traditional markets like Weeble try to tackle this. But it never really seemed to take on a life until FOMO. And I'm kind of curious as to, you know, you started FOMO, I think a little bit over a year ago at this point, was there you were raising a little bit over a year ago? Like what was the initial genesis for the idea and like what was the gap in the market that you were trying to address? Yeah, I think so I like taking a step back of like personal background. I spent a lot of time trading on chain from 21 onwards. Like ETH made that into the all DVMs like ArborTrump to like Tron, Treesay, Salana, like pretty much everything, like there was an opportunity to try to cross all these chains. And obviously like we know as crypto native people, it's already pretty difficult to like go from chain to chain. There's a lot

11:33of mental friction like I missed out on keto on basis, but everybody else in my trading chat trading it because I didn't want to set up a base wallet. I didn't want to think about, you know, another thing to manage and secure and all these things. So I think that like that was a fundamental thing that needed to be solved generally, which is to be a cross-chain trading. But I think the other thing is like even two years ago, you couldn't really build phone-wise that looks today. There wasn't enough liquidity across different bridges, you know, let's say like relay wasn't fast enough. The RPCs probably couldn't handle the loads at the same scale across all these chains. Privilean embedded wallets didn't really exist and weren't super trusted. Like there were a lot of things I think that led to this not being possible until let's say like a year and a half a year ago. And I even think today we're still at this cutting edge of, you know, can all the generic purpose and for take care of all the load that's coming in from retail and from the people across the space of crypto. But the Genesis story pretty much is a lot of us spent a lot of time together working at the IDX where, you know, it was, it lacked for better, lack of better words like hyperliquid before, hyperliquid way. It was like 90% of the market share that a billion of revenue in like a year and a half

12:34two years. And you know, it was kind of one of the first mainstream tokens that didn't air drop after you're in a swap that really got a lot of people interested in that model. I think there were a lot of things that went wrong, but you know, we come from that background where we built for institutional users and let's say like a specific group of high volume traders. And then, you know, we kind of took a step back in our regard, well, this was a great experience, but you can't really show your your mother or your sister, you know, perps, right? Like what is this order book? What are all these events orders? What does funding rate mean? It just wasn't ready for the world. And I think it's getting to be the point where it is now. But we needed an experience where like it was very easy to understand memes, right? There's a Q-hipbo, there's this narrative, this event happens, but there's not an easy way to trade them. And I think right around the time we started ideating, moonshot actually started to take off. And you know, I actually credit them because they were the first mainstream apps to actually get a meaningful user group on board. And then Phantom obviously followed on in a very different way. But I think that that was just like aha one for us where it's like, okay, people do want to do this thing. It's still pretty difficult despite how easy it seems to us. So we need to create a better experience here and better

13:36meant social. We meant social because you think about like, okay, let's say the user journey is you come onto moonshot or another app you buy, you make a lot of money because you think it's cute. Everybody agrees. Then what? You either one churn because you have no idea what's buying next or two, you buy a bunch of things that you have no idea or context on and then you end up churning afterwards because you lose all your money. So we needed this social layer which I think CT has done a really good job of like putting together in some ways, whether it's in public or in different chats. And you need this layer where like people can express their views. You can actually find these people directly on the platform you're trading on. You can understand their thesis over time. Maybe eventually you can even comment and ask some questions. Like you need this like social graph because trading inherently is social. And I think there's been this like broader stigma around like publicizing positions or doing things in public, you know, because your friends might find out or your coworkers. And I think the world in itself is like shifting towards this new paradigm where people are taking a lot more liberty. They're putting themselves out there a little bit more and they're trusting systems less. So they want things like, you know, mean coins or stocks or options or perks or prediction markets like find their own financial liberty. And I know that was a long way to answer but that's kind of just going through like the general

14:37top right now. That's good. But it also hits on something that I think a lot of people, especially if they're not from the world of crypto, don't really understand which is what are you talking about trading as a social game? Because I think if you look at Triedfy, you know, when I was when I was in that world, we were very private about our positions. We didn't want people to know what was what was going on. We didn't want people to understand our strategies, right? Like if you have a public account on FOMO, people can see every trade. They can see every buy. They can see every sell. If you run up a million bucks and then you sell 200 grand of it, you have 800 grand left. But everyone might frontrun you and that sort of in my mind doesn't didn't really make sense until I signed up for FOMO and I started to understand why people might do this. But from your perspective, I mean, why do you think social trading is so important? Maybe with meme coins, but then is it important for other things? Is it important for perpetrating? Is it important for long-term investing? Is it important for anything outside of meme coins? Or is it just that meme coins are a social trading game? No, I think it's important

15:39for everything, right? You think about the core of how do markets go up over time? You need more inflows. You need more attention. You need more interest. And I think it's naive to think that the world has captured enough retail interest and enough normal person interest for it to be something that is massively widespread. I think most, let's say your average, your median person, probably doesn't invest. If they do, they invest very small into their 401k or in the season such. But I think the reason why this needs to exist is people learn by doing. So you talk about analogies. You want to go learn how to play basketball. You're not going to go read 10 books and watch Michael Jordan documentary and like look at shooting form videos and then six months later go do it. You're just going to go do it, right? I think for trading and for investing, it's a very similar thing, even that's a very different form function, where sure, a lot of people are stumped at the fact that they need to go learn PE ratios. They need to go learn market caps, what are like relative value, all these things, and then they never end up investing, right?

16:40Where they never actually exercise and must want to do it. So I think that for it to be something that's a little more approachable, where you like, you bought stock because like your friend who you think is smart about Tesla or you're positioning in the SpaceX IPO because everybody's talking about it. Like these are social things and that's how the market and the world work. So for you to be able to like create a wedge and let people find a little bit more enjoyment, a lot more, a little more relatability is actually a good thing because at the end of the day, you have more people investing, more people coming into capital markets. And I think that this is really the only way you can actually raise a ceiling and outpace the growth of let's say, you know, the economy or GDP or whatever at the end of the day. Yeah, I think I think a lot of it is also just you have just a complete change in culture, right? You have more people on social media, more people willing to broadcast their lives, willing to show you what it looks like. I mean, there's this entire sector of society that's just like inside the life of a meme coin king. They're like making, you know, millions of dollars and they're explaining to people exactly how they how they do it. And there there seems to be I would say almost a newfound benefit in broadcasting your positions. I mean, you've seen other

17:42streamers talk about the fact that traders of the future are going to be celebrities. And there was actually like a benefit. There's now a benefit to sharing your your PNL in a way that there wasn't before. You know, when you when you go if you go log on to FOMO, you can see the leader board right there. And it for me, look, I'm an I'm an unc now. I have just started trading meme coins again. I think the last time I touched meme coins was two years ago, as I've said. And so when I got when I signed up for FOMO, I was thinking, well, what like, how do I even start looking at meme coins? How do I even figure out what the hell is hot? What what people are interested in? And the easiest way is to just like go click on the leader board and see what all these all these big guys that seem to go know, know what they're doing. What they're actually up to. And that to me was a big, a big unlock, which is kind of interesting for me to see. I mean, was that like where you was at where you started? Is like, we were just going to start with a leader board or like, how did like, what was the first thing that you built with FOMO actually? Yeah. So if you look at FOMO's first version, you would actually be surprised to see that it's actually very similar to what

18:44exists today. The only difference is like, it's maybe a different skin because we've done a brand revamp and now there's multi chain. But like leader boards always existed, feeders always existed, homepage, profile, like maybe referrals have is a little more visible. But it's kind of the core thing that we set out to do. And I think that, you know, when you spend all day thinking about something, the vision expands, right? So sure, it's expanded beyond multi chain trading platform, if crypto assets with social to much bigger and broader. And we can touch on those things as well. But I think that for us, like this is exactly where we wanted to be. This is where we held the market was headed. And it's funny to talk about like cultural shifts of like what people are used to or people are, you know, willing to do because Fred Wilson is a good friend of the bars. He talks about like, oh, you know, I passed on Airbnb and Uber initially because it's like, why would I get into cars stranger? Why would I want a stranger to live in my house? And now you think about like that is just a societal norm, right? It's kind of similar to trading where like, why would I tell anybody what I own to, well, I can leverage this like build a social presence of profile of brand and monetize this over time instead of it being, you know, completely relying on whether I'm going to be able to read the market right or wrong. And I think that this

19:47is just a shift that's happening in the world, not just with trading, but with other trends like healthcare and, you know, with things like access. Like these are just things that we're starting to see the world get more comfortable in where you talk five years ago, people would look at you if you mentioned the peptide and say like, that's for bodybuilders. Like, why would I inject this foreign thing into my body? But now it's like, wait, I'm getting a little more educated. I have Claude and I can learn like, whatever the gaps in my health system that my doctor is not actually giving me good advice for. And I can go do the thing. So there's a lot more liberty, a lot more willingness to break out of the system and like self educate. And I think that's general positive trend, even though, you know, it might seem odd to people that are coming from different generations. Yeah, I'm curious like, what it like, do you, do you trade on, on VOMO? Like you, you punt meme coins? What's your process for evaluating? Yeah. So I've, I'm, I'm, I've always traded on chain. That's, you know, where most of my, I would say like personal, let's say value has come from. I've sent a lot of your personal value has come from punting meme coins on chain. That's amazing. It is. Yeah. You're kind of the perfect person to build this then. Exactly. And

20:49I've pretty much taken a break to most of the bear market. Like I don't like trenching. I think that's something that I'll leave to the people who are at the computer 16 hours a day. I like, can we, can we, can we, can we define what trenching is? Yeah. For, I think it was that like, what's interesting trenching and punting meme coins? Yeah. So I think trenching is like, let's take like your traditional time frames and like compress them by like 100x. So trenching would be like day trading, right? So, you know, you're instead of it being like intro day, it's almost like intro hour or intro minute. Like some people are trading the same coin in and out within 60 seconds, right? So you're compressing that time frame by like an order of magnitude. And then I would say like, for myself, I just like to find good spots and that might be what people would call like investing or or long term hold, which encrypt though, maybe it's only a few days, a few weeks or a few months. It's not like, you know, weeks, months, years, but it's kind of analogous to that where not everybody is going to day trading, not everybody's going to trenching. And I think that the people who are going to win most of the time in trenching have superior infrastructure. They have more knowledge, they have more information, they have faster computers, whatever it might be. I think you're seeing a lot of

21:52big gaming crowd do this. And it's honestly not something that most of the world enjoys, right? You think about why are people interested in crypto from even half a decade ago? It's because they've learned to hold, right? Doge, sheep, Bitcoin. Like these are things that generally went up over time. And that's what's drawn the most interest, not come into this coin for 60 seconds and like maybe you make money, maybe you don't. So that's like something that I should I stay away from where I like to find spots. And they're not always meme coins, right? Like I was in lighter probably in the low ones and just sold that like three something. I think that there's, you know, hype, which I did a swing trade or a median term hold from like $35 upwards. Like these are also scenarios that I find myself in, but there's also a number of meme coins. And right now I'm trading on an alt account mainly because I don't want myself as like one of the FOMO co-founders to like create narratives or spell or spell like, you know, certain things as good as bad, good or bad. But for myself, like, yeah, I'm probably like number 230 liter board. I think I'm up like 400 K trading meme coins. Oh, so you're your alt year? Do people, is this like a open secret or is this like we're going

22:52to have to dig for it? The people in the chat right now. I don't know. Nobody knows. Find your alt. Yeah, nobody knows. No, he knows. And I'm very careful about how I position it when I post it. And the minute I think anybody knows, I would delete the count and probably start again. Because like, you know, that's just not, I use FOMO because it's a great platform for me to trade. And if I was building up a social presence and profile, I can do that here if I wasn't, you know, co-founder of FOMO or affiliated team, whatever. But yeah, it's, it's been great because I get to dog food my own product, I get to use it every day. And then like that kind of materializes into different parts of product feedback. So what's, so right now, I mean, FOMO is really, I think, people consider it a meme coin platform. It's like, this is where you go to uncover on-chain gems and go punt things. But is that, is that the extent of the vision or what's, what's next for you? If there is anything, or, or I mean, you got, look, you guys are making a million bucks a day. This could just be, you could just like pump fun and just run this forever and think, you know, meme coins are the future. Yeah, I mean, I think for us, like, it's never really been out the money. It's always been about

23:54the impact. So if you think that like, let's say the time of people who are going to trade meme coins or adjacent coins are like, you know, a few hundred million people versus the person who's going to invest in something or have an opinion financially, it's probably in the billions. Like one market is a lot more exciting to us than others. I think for us, we view this as a wedge, right? You solve a problem in the market, you create a user base, you create a social graph, and then you start to think about how do we actually build on top of this in different directions, right? And I think one of the things we're most excited about actually is like, how do we start to birch the gap between, let's say, all the tokenized infrastructure that's coming on for equities and the social graph rebuilt and the actual like incentive model that exists with Enfomo. And what I mean by that is we launch creator awards. So it's similar to YouTube or Twitter where, you know, you perform an action, provide value to the social graph, whatever that means, and then you get rewarded. Some of these guys, like, we paid out $4 million in two weeks. So you think about, you know, the top guy has made $300,000, just doing the same thing that he has done through every week before this existed. And that's incredibly powerful because like now you're incentivized to

24:55continue to provide social value, you develop your develop the stickiness of the platform and develop an identity. So there's all these things that I think like social graphs are particularly well, nobody's quite done in the world of finance, but let's transpose that into like equities, for example, right? Where if I am a big YouTuber and all I've done is create great value, YouTube has made me, you know, low security of the year, I've made a lot of people with millionaires, decadmillionaires, maybe even like sense millionaires, but I haven't been able to monetize because I don't want to do a paid course. I don't want to like do a paid group or newsletter, like those things don't feel right to me. Well, what if I can just do this publicly? I can just trade publicly, give you all my Thesese, my commentary, and so on real time, and in return, I get creator awards, right? I get paid for the value I'm providing to the platform, which is going to be many orders of magnitude more than we can on YouTube, right? YouTube is like your compartmentalized into one group, which is like finance, YouTube, there's some payout available, you get some of it. First on FOMO, like, what if you could actually monetize and make a million dollars a month because you're the best equity analyst in the world, and you're doing this for people to find value, and now you have a career that's like separate away from the thing, which is, you know, your YouTube content.

25:57And I think you see this already happening with like really big names, like Michael Burr, or Sintrini, like these guys probably monetize eight figures a year off of their newsletters today, but imagine like you had the opportunity to do that, and you're not a big account, or you're not in the big short, and you can actually do this via track record. Like it's something that I think will be incredibly powerful, and you get to this place where like why would you trade anywhere else? Yeah, now I think that's actually a big issue just generally with financial influencers is that it's very difficult to figure out if they're actually good or not, because you don't see their P&L. I mean, there are a couple of services that I've signed up for, where the people will retweet one of their picks, and then you'll buy their service and sign up for it, and you realize they have like 450 things in their portfolio, and you're just like guys, like everything else is down, you just retweeted the one thing that's up to you. You don't actually know how much money they've made. So, I mean, how are you thinking about expanding that part of foam? I mean, I know you guys have, you guys produce really fun content. I've seen a bunch of it around, but it's all right now, like geared a lot towards obviously like the the trenches, the memecoin flippers, like are you

27:01thinking that you're going to start moving into that world to try to get people to trade equities on your platform, trade perps on your platform, like get like big names? I mean, what would be really cool at some point to be like a big hedge fund to actually sign up for FOMO, or is this even a medium-sized hedge fund, right? Yeah. It could be kind of interesting. Yeah, exactly. That's where we want to head, right? Because like the premise of most of the content that's being put out today is like twofold. One is education, or one is like aspirational content, right? Like, hey, this guy made $10 million dollars, like it was done in public. Every single buy was notified to your phone, and you could have been in the same shoes, right? I think that does not not carry over for equities, right? Imagine your Rorne Kitty was on FOMO when you know, GME stuff happened. Everybody was watching. Everybody signed up. Everybody was interested. Like, I think it's that, but like imagine a thousand Rorne Kitty's, right? It might not be the same order of magnitude of like publicity, but there's going to be people who are just so good at their craft and want to develop an identity in a brand, and you know, we talk about like traders and new celebrities. I think that's still like very in early stages, but you think about, and I might be going off the rails here, but like one thing. No, no,

28:02that's actually the whole point. This is a Friday stream. We can go off the rails. We can talk about whatever the hell we want. Yeah, but the one of the core, like early, um, theses that we have is like AI is getting better every single quarter, right? It's like roughly doubling in its capacities. Let's say every single quarter, quarter, quarter, quarter, it's going to get to a point where like, it's so easy to produce content that in this like Arab, the social media platform, which is like right now in the interest graph, which is like the content itself, not the person, and you have opportunity to go viral no matter if you're a smaller count. If you're, you know, a new person, first time creating content like you have the opportunity to go viral. Well, I think what ends up happening is like the scarce resource is no longer attention because now there's so much interest in content. It's also good, you know, AI is like commoditizing it entirely. Now you need something else to like view as the source of truth, which I think is going to be capital. It's going to be risk. It's going to be who is right publicly, who is taking dollars, who has been able to like validate their thesis in real time over time, and now you create this new social graph for like the top people at this platform are not producing content, but they're producing trades,

29:04and they're producing education. And it's the highest intent social graph that will ever exist, because these people already have funds on your platform, which is incredibly difficult for most platforms to do to their intent base because they're going to use that money to trade, to earn, to do whatever else. And three, like you have a value where like you can argue each follow is so much more meaningful than everybody else because like it's intent based, right? So this is where we see the world going when it pertains to like what is the next biggest social media platform to exist in the world? It's obviously very far off from like the initial vision of like cross-chain training application, but yeah, it's something where I think we can get to scale of hopefully like a Google or a Facebook at the end of the day. A good, I mean that would be that would be pretty unbelievable. I've always had an issue with platforms like Facebook and Instagram for the way that they generate attention. I think a lot of it is extremely superficial. And that's actually one thing that I loved about Twitter X is that I mean I grew my account specifically by producing educational content for crypto, for trading, kind of giving people I think frameworks for how they should approach the market, but this is I mean taking it even a even a even a next step. But I do,

30:08I mean obviously there is there are drawbacks right to this like as you generate a huge following as you generate attention instead of being right and then making money you can actually just like create the money by basically if you already have a large track record right and you and you launch a coin or you go do something you can start to monetize your audience in a way that wasn't really available to you before. And so I'm wondering if you view that as a maybe maybe that's a positive to you, maybe that's a drawback, but how do you feel? I mean today for example right with this with this meme thing that just went viral with the with the AMC there was a lot of talk around all of these influencers were in really early and they actually caused the thing to go up versus the thing would have gone up on its own without them. Keras like if you see any drawbacks to the social trading aspect and if so like how would you tackle that? Yeah I mean one of the drawbacks is like let's say you mentioned this in the first few minutes but it's like you know you you're up a million dollars in a coin you sell 200k and it goes down by a lot because you know maybe people are like oh he's

31:10selling so I should sell as well. That is obviously like one of the things that's going to happen and it's happening today it'll happen in every market but I think the count arguments that is like it went up in public just you're going down in public right if you were you know able to get attention onto this thing and people realize the thesis and they started to find conviction because you did it in public it should work the other way where if you're sorry to lose conviction or you're sorry and if you're like you're the price target or thesis is it then it should also go work the other way and I think net net you'll still end up much better off like collectively as a group because there's going to be a lot more attention on the asset people are going to become more educated and they'll probably also just like be involved in better price action generally right but that's something to be careful of right because like if you're a big account and you know that you know if I buy this thing I'm gonna have a hard time selling maybe it makes you a little more selective maybe it's like okay well I don't have that I have a conviction to do this so I'm not going to do it or I'm going to do it on an account where I don't have influence because now it's your reputation that's at stake and I think that you know in a lot of ways like ideologically we like to think to social graphical correct itself where you stop following the people who like you know

32:11dump on you or you you know start saying bad reviews or bad things and people gets to actually like you know collectively part taking great social consensus I don't think that's all the world operates where you know you're able to like hide a lot of things in the corner like there's always new people and there's always going to be this like things to solve for so that's one of the things that we spend a lot of time thinking about is like how do you remain neutral as a platform but give enough tooling to people so they can make their own decisions right and right now the only concrete thing we've rolled out is average whole time like a lot of the time like the issue with you following somebody into a trade or trying to like replicate their trade is that your time horizon is misaligned right where maybe like Avi you're like all right I'm going to go buy a lot of Bitcoin you go do that tomorrow and then I'm like okay Avi smart you know I'm going to hold Bitcoin for 10 years I come back in 10 years and it's like you sold month six right that's like I'm going to be really upset but that's just a fundamental misaligned of time horizon right so you need to be able to give people more data of like is this person a trader do they invest or they long term holders how do you kind of synthesize those things and maybe this even happens in like discussions where you can start you know monetizing

33:11your audience in a way where it's like hey $10 you're in my group you can ask me questions we can be transparent we can talk and if you deviate away from that you know it's very public it's a consequence or whatever so there's a number of things that we have on our minds of how to mitigate this I don't think we're at the scale where it's you know top of mind and super pressing today but we want to create this platform where we give you enough objective data so you can actually you know articulate your own opinions on different people and there can be like some level of understanding of who this person is and if they're a good or bad actor yeah I think that's I think that's really really important I mean it's amazing how often just even even on this pod like oh I always articulate timeframes now on literally any asset that I ever mentioned because I've gotten in trouble before I'm like oh I'm really I'm really bullish on this thing and then I was trying to articulate that I'm bullish for the next week and people hold it for a long time and like three months later they ask me about it and I've actually like I've completely forgotten about I literally do not remember the asset that they talked about and I'm like what are you talking oh that thing that I sold like two and a half months ago what are you talking about yeah so that's that that's that's that's that's really important but like like what what are there what are there tooling would you want to roll

34:15out like are you gonna I'm not gonna be able to post like educational videos on FOMO at some point like what's the what's the idea there that's the plan yeah we want you to be able to like have one place where you can connect with your audience entirely you can educate them on different form fact there's you can interact to the extent that you want to and it's plus EV on all respects like it is the place to do it because you know you'll earn more than YouTube or you know you'll connect with your audience closer then sub stack or you know whatever else these like tangible things are but yeah I mean like one idea we had is what if based off of attribution right let's say like you go buy something you put out a thesis a million dollars buys right what if you can actually like go through those million dollars and each person assigned them a score based off the waiting of like what is their buy size right so if you're a hundred thousand dollar buy it's weighed more than a dollar buy and then you can actually have these people start to like I don't want to see leave ratings on people because that just doesn't feel very human but somehow like articulate whether they felt like this was something that they were happy to do whether they gain value from it and maybe that's algorithmic maybe that's like an annual and then now you have a score of like okay well you know 56

35:20out of a hundred is the consensus of this person and you know above a 15 means they're good and they don't always come with the best things but they have a good intent 90 is like good intent always right 20 is like bad actor don't follow and like that should be very obvious I don't know if that's something that makes sense for us to roll out in that form factor but that's just like one thing that we think about it's like how many dollars behind your decisions are there and then like what are those dollars like what do they feel about the actual decision that they've made yeah now that that makes that makes a ton of sense I think that probably you're what you're I don't know if this is true so I'm just going to speculate here but you probably need like a more informed like people that do you actually let me rephrase is do you think that the people on your platform right now are interested in this type of content like who are the types of people that you're seeing trading on FOMO I mean is this are these are these younger guys are these people that are actually investing like they're like divesting out of stocks coming in is there any way to tell like who's trading on FOMO I think the information we do have is that a lot of these people are net new

36:22investors broadly and it's not just like have they bought a stock and they're not trading crypto it's like no some of these guys are like this is the first thing I'm ever investing in and I think that's incredible yeah because you think about like what are you trying to do here at the end of the day you're trying to get more people access to markets and it comes in different form factors but eventually through your user journey hopefully they can graduate on to you know whatever that's interesting to them maybe it continues to be memes maybe it's stocks maybe it's perps maybe it's prediction markets like you kind of need to find some much for them to get started and from there you can inform the user journey but the most important point here is we're not the house right we are not the launch pad we are not the a mm we are not the order book and that is all very intentional that is because it is in our best interest for you to have longevity as a user so we need to educate you we need to give you the proper tooling and we need to make sure that you grow as user over time this was something that like I think almost no trading platform was ever done you know we talked to the other guys at Robinhood and they're like we always had this naive view that the $100 depositors eventually going to become the millionaire and like it almost never happens right it's just not something that's realistic in regular capital markets and I think I attribute that's the

37:22fact that like you don't have the opportunity to learn beyond reading through the market yourself and digesting it versus on info mo we've had a lot of guys who come in with you know a few hundred three thousand dollars and they're millionaires now so it's like you are able to understand by doing and by seeing in humans our creatures of like you know doing and seeing so I think that we give them a platform to actually graduate and stand things and tulip king just had this tweet where he's like you know I can go watch microjordan every day but that's not going to make a better askable first is like if I go watch the top traders and like really understand what they're doing in real time I might have a chance of becoming a top trader so now you have the world's first social graph that's reflexive where you know your consumer can become creator not by like any force effort by by that act of doing what is natural on the platform which is trading and I think that's incredible powerful and the world has never seen something like this and you know we're still not sure it can be done at scale but if it is like I think it's pretty revolutionary to like what what I mean what it means for like the average person trying to invest yeah it's a it's a beauty of trading I mean for the most part it's not about your click speed for the most part it's in or intellectual exercise can you actually understand the supply demand the flows the attention

38:28uh where where things are going I I am curious like where where where are you converting most of your users are most of them coming from Twitter or TikTok YouTube like who where where you driving people from yeah so I think early on X and TikTok drove most of user base where we probably saw you know 60% of users referred directly attributable attributable to like TikTok or to X specifically whether it's like big traders or content creators now the number is really small I think maybe only like 25% of traders are referred which you know that can mean two things right one is like you're getting more organic distribution and people are kind of natively figuring out that this exists and they're going to find it and I don't think that that's like you know here for the first time go download and that's it I think it's like you impress on people right it's like hey like these are the ways people use FOMO this is what it is this is what's available and maybe like the eighth or ninth time you're like okay that's it I'm gonna go download it um and I'm gonna try it out so I think like it's really hard to attribute organic users who are now referred because we just generally have no idea but I think the signs of a healthy social graph are that you're having less people

39:29referred and the median referral goes out of his hand right yeah no that's I mean it's always interesting to me to sort of figure out where the new entrance into crypto are coming from because I think that's really indicative of how sticky the trend is going to be right like if you have a platform where all of the users are coming from X I think what you probably end up with is you end up with this idea that it's just recycled capital if you're getting inflows from TikTok or inflows from Instagram or inflows from Facebook or other places then you can start to say okay maybe this is is is net net new capital coming in and so I kind of want to end with a with a question I mean how right now we're in the middle we're in the early innings of a bull market I think but do you do you agree with that do you think that this rally has lasting legs do you think that this meme coin trading dynamic what's happening in meme fight all this stuff we're gonna we're gonna see just a secular growth and this or is this gonna be a flash crash and like what what are you seeing is there anything in the data that is making you optimistic or pessimistic about this rally

40:33yeah so there's like three distinct growth events in our company's history the first year in a bear market this one may be arguably not a bear market for first time in both November and January of this year or November of last year January of this year we both had really big growth events where like I'm talking 10X over two days and it was very spiky it went up very quickly it fell down very quickly it took a long time to recover and you can kind of like tell exactly what coins were traded or the narrative was or why this happened and you can like attribute it's like one of two things that was spiky growth and I think just like flash in a pan for you know something that was very temporary right and that happened in November that happened in January and then from there you know we've started to see slow growth over time where it really starts pick back up around June it's interesting because for the last let's say 16 and 90 days somewhere in that time frame it's been a gradual increase there's no spiky events there's no one day that's not liar every single day goes up by let's say 5 to 10 percent there's more users and you're starting to see this on a trend graph where like if you put up like Adam Adam tech some doing dashboard you can see it in real

41:37time where it's not spiky it's gradual and that gives a lot of encouragement because it's like okay well you know if it's spiky it's going to spike up in November quickly if it's gradual that means that we're still building up this space and there's going to be you know some life left I think that all of this is going to be contingent on are there more interesting things to continue to do over time will the current games get solved because I think that that's detrimental to new users if like the same few people always win and solve game and they know exactly what's going on it's kind of like marketing making right like why would anybody else participate at that point but I'm hopeful that it's not and I think with Macro at where it is today at the crypto level Bitcoin like you know around ADK going back and forth like we're still really early right like I don't think most retouchives attention to crypto market so Bitcoin has break all time I that could take six months that could take a year and through that time period we'll continue to build more features more products more ways for people to interact socially and I think there's always going to be an avenue of people who want to try to build a brand by trading by being the best and there's always a trade somewhere I say I really really appreciate you coming on this was this was a really fun stream

42:40and also just like you got you got me build up you got me build up on meme coins I'll leave it with this I sign up for FOMO I think it was it was was last week now and it was one of the most polished apps that I've used basically ever and I've been in crypto for eight years and I'm just happy to see founders like you coming out and building real products that are actually taking the space forward and not just reiterating what we've seen a hundred times so I wanted to say thanks and you know everyone should go sign up go sign up for FOMO preferably with my ref link amazing yeah I've been obviously following you for a time and it's cool to see you like come into this world of the house instead of you know majors and perps and you know things of that nature and yeah I hope you enjoy the experience if there's ever any feedback you know we're here as a team we love getting feedback and talking to people and yeah hopefully this is something where we look back on six months and say hey oh so obvious this is just getting started well we're gonna have to have you back in six months and then talk about the explosive growth and now you're gonna have thank you again 100 percent thanks Avi take care all right guys that was that was really great I mean that was just like super densely packed we were talking super fast it was kind of like

43:43I felt like Ben Shapiro there for a second where I'm just I'm going a hundred miles a minute I just keep talking I can't stop talking and say it was kind of the same way I mean I guess I got through most of the questions that I had written down here but it did make me a lot more bullish on a meme coins I'm not gonna lie because I think what he said is a hundred percent true historically and this is true for me true for I think everybody that is not fully in the trenches it's really difficult to figure out how to make money on these things and candidly look look there are a couple things here that I do want to point out as just a note as a little bit of caution 94.4 percent of people have lost money so far trading on FOMO and I don't think that's not an indication of what FOMO is as an app that's an indication of what meme coins are and what meme coins are is at the end of the day most of them are gambling it takes an innate understanding of memes it takes an innate understanding of attention of where people are going to put their money in order to really crush it on meme coins I mean a great example is this AMC tweet that literally sent a coin from

44:49$100,000 market cap to a hundred million market cap in five hours five hours that doesn't happen anywhere else that actually can't happen anywhere else the reason that it can happen variety of reasons but really it's that crypto is the only place that can react quickly to events that have attention the equity markets can't do it prediction markets can do it a little bit but not really nobody's going to speculate like is Jimethy going to be more popular in three weeks than it is today it's it's just a different different world I mean it literally is the only market that can react to events and capture and monetize attention quickly but at the end of the day all these things are lottery tickets so you do have to be a little bit careful although one thing that I found very funny is that today you have a market that is more interested in real things than you've

45:53ever had before in crypto and this is what I've been trying to articulate for a long time and hopefully paid attention is in crypto everything has been about what might happen what can happen what should happen not what is happening if you go back to 2021 basically everything that went up didn't make any money 2023 sort of the same 2023 24 sort of the same thing it's all about what could happen now we're actually getting applications that are making real money you have things like hyperliquid lighter that are making money hand over fist you have pumped up fund making money hand over fist and I think what this is done is it's given people more of an appetite for reality people are less likely to go invest in things that make zero sense that are pure lottery tickets that's why meme five this concept of meme five what is meme five years ago a meme coin was just literally a funny picture

46:56goes around the internet I'm gonna launch a coin that has the same name of name is it there's no actual connection to this meme it's just that people coalesce around it as a way to express monetization of attention meme five is this idea that you're tying a meme coin to an underlying stock this is happening because of real world assets being tokenized on Robinhood chain on other platforms they're saying for every 20% of volume or every 20% of fees generated by this meme coin through sales we're gonna go by the underlying stock and now this is still a total and complete lottery ticket gamble but it's way more real at least than meme coins have been in the past it's not still not real don't don't get me wrong like most of these things are not going to exist it's basically the meme coin version of a debt a digital asset treasury all of which except for micro strategy and even micro strategy have failed pretty miserably so you have to be careful but I do think that social trading

47:56is a massive wave that is going to take over the world for a lot of the reasons that we talked about people are just way more interested in sharing what they're doing on a day-to-day life I mean think about it 15 years ago the concept of posting what you were doing every single day was a little bit weird now people do it on their stories all the time why not do the same thing with trading I mean it's kind of just that's just the way of the world and speaking of the way of the world the world is rapidly changing we have a new model that just got released by open AI their GPT 6.0 and this thing I haven't used it obviously but according to open AI it is absolutely crushing benchmarks across the board sandisk is up 10% today Intel is up 4% I'm super bullish on Intel I think that we can see 140 again by the end of the year pretty easily especially as we get out of the summer low but this to me is making me a little nervous

48:58about the return of the AI trade and the return of the AI trade would be bad for crypto so you got to you got to pay attention to this it's possible that we get only certain segments now run like we might not get a full blown bubble from AI you might see Intel run you might see sandisk run you might see Nvidia run you might see some hyper scalers do well and that concentrated performance would be a lot better than a broad based you know SK high next doubling in in two weeks Korean stock market going nuts that would be worse for crypto right now I think we're actually could be in a happy medium where you could see AI do extremely well at the same time the crypto does well but you can't have that broad based rally in AI that brings everybody in now more importantly I think people's mentality around crypto has shifted because of what you're seeing in the market when you have a coin run from 100 K to 100 million people start to pay attention when you have Z cash an asset that is very easily attainable by most people there's a debt

49:58site you can buy it in the equity markets you can buy it on coin base you can buy it on basically basically anywhere you can buy crypto you know to hedge funds can easily get access to this because because because of the debt it reminds people what crypto can do it reminds people that crypto is able to move quickly if we break through 80k we have beat the bar I'm going to coin that we've beat the bar the bar being for those of you that don't know this common charting pattern that happens all the time in crypto bear markets where you get this pump up you get a little bit of consolidation and then you get a crash down and the reason you call it a bar is because it looks like Bart's head because Bart's head is a square with little squiggly hair on top if you can visualize that it chart goes up squiggles and then comes right back down if we can beat the bar if we don't get that down move it will solidify in people's minds that crypto is in a new era and that we could

51:00probably see 100k we could see all time highs by the end of the year I'm very constructive through the end of the year just in general I think as we come out of the summer doldrums as people get back into their seats I mean here I'll show you this is what a Bart is this is this is a Bart for those of you that don't know although most of you should know this I mean if you don't know this like what are you doing in crypto seriously guys what are you doing in in any trading seat you got to know what a Bart is so thank you thank you Brad for for bringing that up now you know generally you know I think I've advertised caution when it comes to going all in and I'm going to say the same thing just because I'm bullish doesn't mean that you go all in into into into crypto I mean you could you could obviously see a pullback but I do think that the macro sets up for quite quite a nice run we're seeing revenues increase increase throughout the entire industry right now lighter is almost at five dollars I mean that was this absolute home run trade I'll give

52:05props to all everyone that called lighter a few months ago that was totally undervalued integrated by Robinhood really doing a great job in terms of getting new users on board very bullish for lighter I do think that that pear trade is probably good and if you want to if you want to put on pear trades I've been using a pear protocol recently and that's been really really great for for put it for specifically putting on pear trades in crypto and I do think that that is probably one of the best ways to still express bullishness moving forward is I believe very wholeheartedly in the separation of wheat from chaff while we might have multiple reasons for a bear market to occur I think that most of the winning will happen in the top assets the beta trade of previous markets is probably not going to do as well as it has in the past what is the beta you go back to 2021 and something like Ethereum Ethereum would have a massive resurgence because of DeFi and then all these other chains like salana avalanche and here would copy what they were doing

53:10and those things would go up a ton so for example uniswap absolutely rallies and then avalanche announces that they're introducing their you know EVM compatible chain of them this thing called trader Joe which is just a uniswap clone goes up in a straight line now because every because a lot of these assets are now cross chain operating across a variety of different places because the chain is getting abstracted away what really matters is the usage of the actual underlying product right not the the narrative intention does matter but it's a usage of the underlying product and that is now because it can be used across a variety of different chains like uniswap exists you know almost everywhere now if those types of beta trades matter less and so you're going to see a consolidation of the winner so if I have one piece of advice for you is don't buy the lagers in this bull rally don't worry about them don't even think about them if you have a thesis on something like you have a thesis on perps eating the world buy hyper liquid and lighter don't look for like a

54:13third crazy asset for it to go up if it does it'll be a popcorn trade it'll come right back down you know go go buy the go buy the top things on robin hood chain don't buy the like number 50 asset hoping that you're going to get a catch up I just don't think that that mentality is going to work and it's really we're in the new age of crypto this is the post dot com verse this is when we might genuinely enter a long period of growth for a variety of different assets and what you'd saw in the dot com era is that you had a few companies really capture most of the value your Facebook your Google your Amazon your ubers right it was I mean look at look at like lift and Uber as a great example this lift just terrible company you you want it to buy the leader and that's what you should be doing in this industry as well and I actually view this as happening in in AI I think the previous rally that we had an AI so everything go up and yeah

55:14revenues were growing for everything but now you really want to buy the core assets of the rally which is why I'm allocated to intel specifically and in video right I'm back in I buy back in Nvidia since since Wednesday since we last last talked about it because I am quite bullish on it now one thing I do want to talk about before we end the stream is robin hood now robin hood has been I have been saying it for a long time I hear bullish on crypto you need to buy robin hood and robin hood has done exceptionally well since that since that call we've gone up from you know 92 which is where I bought now we're at 123 I'm still holding this is this is a lot robin hood to me is a multi bagger play like I genuinely think robin hood could eat finance in a way that we really haven't seen since interactive brokers by the way did you know that the founder of interactive brokers Thomas putterfee born in Budapest comes to United States is now worth 105 billion dollars he's

56:20the richest guy that you've never heard of and that's how much money financial plumbing can make you do not underestimate robin hood especially because they seem to be they seem to have built infrastructure to own the future of finance too we're going to see tokenization go through the roof robin hood's going to get a huge portion of that revenue I mean there's all this talk on on Twitter right now about how much money robin hood change is making right now yes robin hood change is making a lot of money if annualized it would increase it would increase the bottom line revenue of robin hood I think 20 to 25 percent I don't really think about it like that because I do I I personally believe that we're going to see a huge drop off in trading and fees on robin hood chain and then we're going to slowly build back up with a more sustainable version when it comes to real world assets tokenization stable coins all of that is going to be the sustainable way the robin hood creates value but as we know with every bull run in the history of bull runs these types of things are flash in the pan as these types of revenues are flash in the pans and you can't really bake that in but what is

57:24being baked into the price is robin hood is the only financial institution that is taking crypto seriously and if you believe that crypto is going to do well then robin hood is going to do extremely well so I'm I'm I'm very very constructive on that now I've been monologuing for a while but I kind of wonder anyone anyone listening right now who's who's in the chat give me a give me a thumbs up give me something engage with me let me know I'll answer any questions that you guys have right now otherwise I'll say goodbye and leave for now because I do want to get my my weekends started yeah drop drop your questions if you have any I mean look guys it's labor it's labor day weekend it's I was I'm gonna say it's probably gonna be slow people are sort of out of it I mean in like New York is totally empty right now I'm actually I'm going I'm going to a wedding in Connecticut this this weekend so I'll be out of town as well but I'm going out to dinner tonight

58:28and I guarantee you I'm gonna be like the only person that that we're going to because it's just totally totally dead everybody's out in the Hamptons everybody's enjoying enjoying the profits are trying to drown the sorrows you know that's a good question what do you do on Monday with no market I I don't know maybe go outside that that could be kind of fun maybe maybe we should do like an outside meetup one day of all the thousand ex listeners like and we can go to Central Park and we can do like ten reps of touching grass just like grass touch grass touch grass touch that could be kind of fun I think that would be probably be useful for most people how do you train in the trenches I don't know I don't know that's that's a that's a really good question I'm actively trying to train in the trenches as well I really do think that the vast majority of this is just staring at your screen 24 seven I mean that's what I used to do back in the day but I it's really just under like you have to train yourself let me let me give you a piece of advice you have to train yourself for

59:32any headline any tweet that comes out how can I make money on this how is this going to impact the markets is there going to be an impact right that should be every piece of information that you ingest you need to have a process I mean basically the way that I do it is when I read Twitter I have a notepad I mean this is all my writings but and I rip them off but I have a notepad right literally every tweet that has any reasonable amount of value I write I write down something that I think it might be able to impact this is it's a it's a mental rep exercise right you see the AMC CEO tweet about tokenization your instinct has to be what will this will this affect AMC stock well this affect problem it will this will there be a meme coin associated with you see a you see a raccoon go viral on Twitter will there be a meme like that's probably how I would do it not that I do this a ton but like for example when open AI comes out with their new model you have to train will this impact chip stocks seems like it has today right sandless up 10% right there's going

1:00:36to be tons of still still going to be tons of demand for compute right you have to really get in the mode of how is this going to impact the markets and I keep repeating it because it's really important super important for you guys to understand pick one ticker to go along per BM and R so I would I would pick Siph personally I love I do like hyperliquid I just think Zcash is far higher upside right now I mean I've always been to Zcash Monero Zcash Monero and Bitcoin that those are the only monetary assets that I will ever care about I don't really care about anything else I care about those three assets and I think that they have the highest upside I do think Monero is going to do well because that is the only coin that's actually used for privacy although shielded coins shielded coin so for those of you that don't know Zcash is a privacy coin but it's not privacy by default you have to actively choose to quote unquote shield your Zc and that has been

1:01:39growing that usage of shielded Zc has been growing so I do think that we're seeing an uptake in that we're starting to see people realize especially the way that these the the pure research poll that I was referencing in last podcast basically coming out and saying Americans are souring on the economy despite the fact that the economy is absolutely rip-roaring it tells you everything that you need to know about perception and how perception drives everything the economy is rip-roaring right now and people are down on it if you if you ask your average Americans like 12% lower in terms of is the economy good or excellent than it was a few months ago how is this happening it's all about the perception and the perception right now is mainly driven by the Iran war and rising gas prices even though and and potential job loss for me out even though that is really it's not happening it's not happening at all but this makes me nervous about the midterms which makes me nervous about

1:02:43the debt I mean nervous about the Dems coming in which makes me start to think hey you know we could see a dip into into the midterms probably short-lived because what people are afraid of obviously is that the Dems are going to try to you know basically throw a wrench at everything that Trump is trying to do to improve the economy but at the end of the day if the Dems do come into power or that makes it more likely that we have a Democratic president in 2028 and that makes it more likely that we get insane amounts of money printing and handouts for every single person you know unless you're a conservative you're totally you're you're you're you're going to be totally new you'll probably be sent to the Google logs by president aoc so you know if if aoc gets elected I I'd probably have to like move to to Venezuela Venezuela might literally be safer for me because I keep making fun of her and we all know that what she's going to do to her haters so long story short I do I do think that where we're in for a good end of the year but watch watch the

1:03:49watch the perception of the economy more than the actual numbers of the economy that's that's what matters the most and watch watch the midterms and stay safe out there I mean heading into the weekend I mean my my portfolio is Bitcoin Zcash still holding on all my biotech plays because that's a mega trend I still have ArcG XBI and I have Intel and Nvidia and I do think that this is going to be a make it trade for the next for the next six months I think that portfolio could you know up 50 100% now if you have a low capital stack go go go go go go speculate I guess that's that's the best way for you to grow that if you have a if you have an income stream you know obviously better but it is this is sort of a golden age of of meme coin trading now be careful of the cabals be careful of the cabals but that's what foe most for it's just help you stay on top of what the cabals are doing so that's what I'll leave you with guys this was a wonderful wonderful market update

1:04:53we got almost nothing 2500 people tuned into this one that was that was a good one for all of you out there Shabbat Shalom have a wonderful and restful weekend I hope you managed to sign off for a little bit and get some rest but come back Tuesday after Labor Day we are going to be back at it we're going to be having a ton of fun in the markets and we're going to be live streaming a lot more so have a great weekend everybody nothing said on the thousand x podcast is a recommendation to buy or sell any investments or products this podcast is for informational purposes only and the views expressed by anyone on the show are solely their opinions not financial advice or necessarily the views of one kx media our hosts guests and the one kx team may hold positions in the company's funds or projects discussed