This AI Psychosis Has Gone Too Far

So unprepared this week that we even, whatever that intro even was.

Half the fucking audience won't even know what that is, because half of them will be from

America.

Well, that's majority will be from America.

That's majority is from America, yeah, yeah.

And the other majority will be too young, when DVDs were a thing.

Yeah, the good old days.

Quite pungent for the nature of the stream today, actually, I would say it wouldn't

you?

Yeah, sure, everyone.

What's happened?

You've been pirated, haven't you?

This week?

I've been pirated, actually.

Henry, bring my screen and please.

So let's start here before we get into everything today.

Full, full, full, full doctor, reveal, full doctor, let me be clear.

If you've had a message from the crypto global, who someone did on Telegram, this is

not me.

I did not go on this podcast.

I don't know how these people know everything about me.

Apparently, I've been posting too much on LinkedIn.

Must have been posting too much on LinkedIn, you know, I'm which I love LinkedIn.

You can bring yourself out.

But be aware, be aware, everything's fucked in people are doing the most desperate dirty

tactics as they often do in these conditions to, oh yeah, exploits are about to go up massively.

Like to up, up and to the right AI conversation is up and to the right to the point that I

just can't fucking stand it at the minute.

My timeline is just endless tweets of people caught tweeting their own tweet with like a Leonardo

DiCaprio meme and like a sensationalist title, like, Claude just killed CMOs forever

with its latest update.

It's like, you know, that black mirror episode in the recent season where he brings his

misses back to life, but like, as part, because he doesn't have the premium subscription,

she likes it.

Oh, yeah.

It's a bit to add out.

Yeah.

Free plan.

Yeah.

Yeah, yeah.

Digging your wife up on the free plan.

Yeah.

Yeah.

Yeah.

Yeah.

This is how it feels at the minute to me.

It's, um, I'm tired today.

Yeah.

I spoke to, I spoke to home earlier and he was just like, yeah, that's, that's the playbook

who's like, I don't give a fuck.

It's like fair play.

Yeah.

It's like, I agree.

Like, it's over that.

People don't see you shit because no one recognizes anything that's worthwhile anymore.

So, yeah.

Yeah.

It's like, you just got to embrace, embrace the cringe, embrace the game.

I suppose.

Yeah.

So, what we talking about this week, I mean, the title of the stream is this,

AI side courses has gone too far.

That was your, that was your title.

Yeah.

Should we, should we start there?

Because like, as much as the hard-core proponent of AI as I am, and I think Claude is literally

one of the greatest creations that mankind has actually created, I also think like, there's

a lot of people smelling their own thoughts.

And it's not just like the performance of stuff.

I think people are trying to make themselves look busy and just create more work for

themselves.

And that doesn't mean that AI increases your efficiencies so you can do more.

It's just like, you're just swimming around, like in circles, doing like, unnecessary shit

for the sake of it.

And I also don't subscribe to these people where there's going to be mass, well, there

will be mass layoffs.

I think there will be a return to some form of mean, and I'm more and more siding with

this kind of stance now.

Certain roles will be gone, right?

I'll just, I will just say that because certain people, they're just inherently lazy and

if you cannot automate that, then that's fine, but there is a human part of business that

just inherently needs to be there.

And people, I've got this weird kind of sixth sense for any bullshit and want to speak

to people, want to speak to humans.

And I think a lot of these people, like Jack laid off, like, what, 40% of the workforce,

apparently there's slow rehiring happening already, right?

I think a lot of people are getting high on their own supply and not recognizing that

these things are inherently sycophantic, Gary Tan from fucking wire combinator is making

out that he's fucking Steve Jobs.

And he's posting a markdown file on GitHub, thinking he's, like, invented the fucking

iPhone or something, like, like these things are designed for you to come back and prompt.

So everything is like, and people are kind of overestimating their own intelligence and

thinking, well, well, I understand that, I understand that, it's like, I'm not getting

bought into this.

Humans have got this weird obsession of like seeing things that they think that they've

created and then continue just going back into this continuous feedback loop.

And people are getting way too, like, they're getting way too high on their own, like,

outputs of these kind of things.

Yes, I think the tools like really, really powerful and really, really strong.

And I think it's drastically improved my life and work.

It just full-stop.

But at the same time, I think the cyposis is completely real.

Yeah.

It really, really, really is.

And people need a fucking camp, a fuck down.

Yeah.

Henry, pull my screen up a second.

Danny from hype did this piece, did this piece the other day.

I know this is going to be a tough stream to get through this week.

Yeah.

Because you can't talk.

Tell the boys and girls what you're doing last night.

Yeah, I just went out and drank way too many beers at a school night.

Luckily got turned away from a karaoke bar, like knocking on 2am, like a walk up the

smile and thought, thank God, we didn't make it in there.

I don't know why we got turned away, by the way.

It was like, brubbed like left one bar and the dog man just pointed at him and went,

not in.

Not in.

Not in.

So yeah, my brain's like half working amidst this timeline.

But in light of what you're talking about, Danny Postus and I would encourage it to

go and read this.

And he's obviously heads up hype, which I think is one of the main and probably only worthwhile

agency in this industry.

I've thought for a long time and the strong survived, don't they?

In that instance.

And I think that's what that's the territory that we're moving into now, by the way.

And I'm veering off of this study here, but we will get to where we're at sentiment wise.

But look, the title is AICMOs are a scam and I think this has sort of just been fired

out of probably frustration, but also like a need to clarify.

A lot of just sycophantic sensationalism as you're saying that's been existed on the

timeline.

At the minute, Henry, you can drop this as I say, like go and check this out if you're

watching.

I haven't read it yet.

It's in my bookmarks, but I already agree with it.

Yeah.

These things that I know we talk about this fucking near enough every day, it's like.

These things are so dynamic and yes, you can get 20, 30, 40, 50% maybe even 60, 70% of

the way they're with a lot of the tooling and infrastructure, but that's only to kind

of like make your life less of a hassle when it comes down to like understanding an

extremely dynamic and fast-moving landscape and how you should pivot and move, how different

kind of emerging trends and it's supposed marketing matters evolve consistently.

Just be brave.

Yeah, I don't care how good you're fucking open coins, like I don't care if you've like

got it.

That looks like it's in a virtual office talking all the time and she fucking weird or like

I don't care.

You're in a dopamine loop, you fucking idiot.

I know.

Jesus, jobs and humans are still necessary, but obviously we're taking the other end of

the spectrum here because that's what sells, right?

But it's like, if I look at even my bookmarks here and things that it, this is where it

gets you, isn't it?

You think, oh, I've been a bookmarker because I'll need to read it later.

It's like, how brands can scale with UGC content using AI workflows?

Larry, my AI agent gets to be in millions of views now.

You can use it too.

How to be irreplaceable in the AI era.

So I'm doxing like some things that I'm like reading.

Sometimes out of like, we've got the Larry founder on Friday, I think.

Yeah.

And just to be clear by the way, like I agree with a lot of this stuff, do you know what

I mean?

And the way we're using it, if you're not, I don't need to repeat this, do I, that if

you're not using this for your daily work, you probably listen to the wrong stream, first

of all.

But you know what I'm saying, you know what I'm saying, my bookmarks at the top, what,

I'll put the Taliban trying to jump for the first time when we pulled out of Afghanistan.

That's not what I was expecting you to say there, I told, I'm skipping the bookmarks

for a fucking retweet at some point.

But the overall point is that, you know, and I tweeted this the other day, that these

things when, when like, and it's always been true throughout crypto, isn't it?

Like, because we work in like frontier tech and new things being shipped all the time

and stuff, you kind of in like an endless battle with everyone trying to prove that they

know something more than you do faster than you do in a race to sort of build their audience,

build credibility.

And with that, like, people are more happy to be first than right.

So like, you end up in this loop where we have a kind of timeline at the minute that

exists between, it's very, very hard to know, like, what is sensationalism, what is genuinely

useful information.

And what's just like sort of rage-based slash fear mongering nonsense, just why I should

tune it in the blockmarks Friday, yeah, I swear, with Brody.

Yeah, but it, you know, it, it does feel as though we are in, and I've had a few people

DM me and in a quite a weird spot with all crypto netives and like what we've seen across

CT and stuff, everyone feels like they're in a mad scramble at the minute to keep up with

and beat each other to the understanding of this ever-evolving landscape.

And the thing with this industry is, what you have to understand is it's like the kind

of, if you're a proper, like, native here, which makes me cringe to say it like that,

but we all exist within this kind of like sentiment hive mind where it's very unusual

and all you have to do is like, I challenge you this right, go and speak to three to five

people that you might know very well and ask them how to feel and about where things

are at.

If they don't repeat things back to you that you're already thinking, they're either

not in it like you are.

Not left-hogged.

And this is why we get such extreme sentiment shifts in this industry because it's super

flexible, isn't it?

It's super.

When Kaito initially came out, it was like super, like on the nose and reflective and

they were saying they were using it internally when they were on the trade and desk where

they were literally buying, without looking at a child, they were literally buying

ship, they're sort of negative or other hyped, social sentiment and that was like the

infactor.

Like, look, we are a niche industry, born out of the subculture, that we all know is

we're smaller than all of these bottom audiences would have you believe.

So this is why I think it feels particularly tense at the minute because everyone's

kind of feeling the same thing and like moving around these circles and going, just trying

to figure this out and keep up, but then because everyone's in the same mindset, you've

got this horrible, like, hectic nature of, I suppose that's it, isn't it?

It just feels a bit hectic and a little bit disjointed at the minute and we kind of-

You know, like, there's a bear market, but then this is the first bear market where there's

been an adjacent sector that's also having like the time of its life, you know what I mean.

So a lot of people who attack forward are just following what truly interests them and

that doesn't necessarily mean that the thing that they initially were interested in

with inside this industry is any less valuable.

It's just a lot of these things are just attention where people spend their time and you

got to kind of get your fingers and get your hands dirty when times are a little bit quiet

and flat.

There's, you know, you're not going to have the opportunity to do it when everything's

going mental, like, it doesn't happen like that.

The rate at which stuff is coming out is, it's impossible to keep up with, like, I

seen, like, an infographic on what clawed a chip in the last 52 days and it's basically

like something every single day.

So we've had a complete guide to clawed in the drafts, like, I know OG block made style

with a guide to clawed in the drafts and we're just going to have to wait until they

stop shipping stuff which might be, like, the end of the year because we're going to

release it.

It's going to be- someone's actively going to have to go in every day and, like, update

it off, like, SEO, you know, it's like, what can you even do, like, you can't do anything

about it?

Yeah.

I've just seen a few comments coming by the way, Neve, Jamil, 309, good morning, a lot

of good morning person on YouTube, Neve, I just sent them some cash though, can you refund

me, Alex?

I'm assuming he's a bird at the top of the shore where I said that someone's impersonating

me.

Yeah, but it's funny, isn't it, it's, I think, all right, well, that'll lead me kind

of into the sentiment conversation because we've sort of gone there, haven't we?

I kind of feel that we've done this to ourselves as an industry a little bit at the minute as

well, and what I mean by that is the bear market is one thing, but because of everything

I've said about the AI side of it and like this, like, aggressive race, the just, everyone's

pivoting.

You know, it used to be the joke, didn't it, like, oh, have you encrypt your pivot to

AI?

Now, my fucking timeline has, like, bloody hell, we did a Claude video, so we're covering

it, obviously, we're covering it pretty well, by the way, if I do say someone's self,

we're not moving away too far from our roots, but how do I put this?

It feels as though the timeline is kind of eaten itself alive because by feeding the monster,

by not the monster, by continuing to feed the type of content that they think people

want to be seeing more and more of by, like, contributing just the AI conversation over

and over and over and over again.

It's like dampening and quieting down any opportunity you would get to maybe talk about

stuff that isn't that, which I think is having a compounding effect to the overall negative

feeling that we've got across the space, because everyone's like, there's nothing going

on in crypto, like, there is, but it's just being completely drowned out.

It doesn't see the light at the end, but you've got to think, like, strictly why that

isn't, why that's totally different this time around again, and one you've got fucking

Nikita, pressing buttons all day every day, then Elon chiming in, so we should do this,

we shouldn't do that.

That looks like quite messy, although I do generally think a lot of the bottom issue

is slowly getting cleaned up, and I do like that, but basically being able to toggle on

and off, whether you want to see certain pieces of content, and naturally having that

up there, if you do want to see more tech AI politics type stuff, unless I only know that

is the right decision, obviously I'm completely biased because I want hours of to be seen,

but at the same time, you've got to think, like, what is this all for, like, what is X

and X AI and GROC getting inherently from this?

They want GROC, as soon as these data centers are fully built, which there'll probably

be a force to be fucking reckoned with at the time, when that I said, actually, it's

built out properly.

They've got this, I don't know what the status, like, 6,000 tweets a second, or some,

some insane number, where they have effectively got the most infinite real time dataset of

human consciousness getting download and upload to their servers every single second.

Everyone else on the internet doesn't have access to that, like, all the other models

are running out of finite data, it's actually trend, so I mean, going into synthetic data,

everyone wants to get away fucking goggles, they can kind of like see your special, everyone

wants to get away wearable, so they can pick up on your inflections, and now people actually

speak.

The data finite issue is something like Twitter and X have got a really, really good, I think

MOT on, and so you've seen them all wanting to try and push into social media and stuff

like that, but it won't inherently work, but they want the most interesting technology

that everyone is speaking about, they're just pumped into the system, so they push

into AI, they want longer form, well written stuff, which is the article, so it can just

help with training, the court retweet situation is you can get where more impressions if you

get the court retweet as opposed to just posting the article natively itself, so it's

all structurally completely different, while the algorithm wasn't necessarily changing,

much in bad markets of times come by, so there's a lot of competing factors that are coming

into this and it sounds like Nakedi is just f**king here scripted awful, stop even though

he's working at Salana before this, which doesn't make any sense, so yeah, that's the

state of play, I think, everyone will just move telegram, that's a guess, it keeps going

through it is.

So what, right, what we just said there, you've just rattled through about, I've just

read it just completely distracted me, you just rattled through about five things there

that you feel are compounding to the current market sentiment, so ground shifting beneath

our feet, the explosion of AI and the intersection of crypto, which is vastly important by the way,

because it's like, beyond and go up, put a tweet out the other day, which was funny, it

was like the hardest part of being in crypto is like pretending to give a f**k about

agenic payments, but like the fact that Nakedi and they're just changing the platform

every single day that we all call home, what else did you say?

I think there's way too much overhang still left, there's probably two or three years of

talking, supply overhang left to wash out for you start to see the vintage of 2026, 2025

actually started to do something, I think talking launches from like, let's put a pin in it

from today, have to be structurally, structurally completely different to anything that's

taken before, oh, you just see less talkings, hopefully, which I'll be quite happy with anywhere.

I mean, I think, no, but the tech, incredible, yeah, you can tell we're not prepared today,

aren't you?

We said before, we were like, oh, we're just going to go live and just start talking.

Let's bring the Gindex up, there's some positive news for you.

Before you bring that up, I just want to show you this one because Ellie Ben, Sasson who

I can never quite pronounce his name for this tweet out, Henry, you just pull my screen

up a sec, which I saw, when did he do this was it, yeah, I was like yesterday afternoon,

I read it this morning actually, crypto winter reflections, I always hate the term crypto

winter, by the way, I just think it's like, what's the inglorious bastard thing where

he goes like, you know, Michael Fassman is that, is it that way, he's like, didn't, that,

yeah, yeah, yeah, yeah, that is like, like the term web, yeah, like the term web three,

like crypto winter is like, feels like a, a normy type term, anyway.

So this tweet is quite good, it's kind of some reflections on, it's been in crypto since

2013, quite a few years, by now, I co-founded ZCash, yeah, yeah, by now, I've had passed

quite a few winters so many that I've stopped counting, I do notice the different winters

have a different flavor to them, and I remember the last one, the one word I associate with

the most last crypto winter is scams between the crash of lunar, three hours, capital and

the cherry on top FTX, that went abroad about an over wild speculation of unethical conduct.

In contrast, the current one feels very different to me.

The phrase I use is a trud-fied barehug.

By this, I mean, with the election of Trump and the Wall members of Regulators and large

trud-fied players of crypto, it seemed for a while that crypto had found its destination

to become new money, new financial rails, new infrastructure for doing all the stuff

that Wall Street has been doing so far, but what actually happened is that this barehug

crowded out the true spirit of crypto, which is about freedom of economic enterprise.

This type of freedom means doing all sorts of wild, full and crazy new things that in

trud-fied, in the trud-fied world, I reserve to the fat cats, and some of which are not

even dead to be done by them.

So we find ourselves in a weird winter marked by the smothering of the spirit of freedom

by the big barehug of trud-fied at the same time.

There's a vacuum and lack of leadership, but changes on the way I can smell it, it's

freedom.

You can drop my screen now, and I thought that trud-fied barehug term is the one that stuck

with me.

I thought it was really interesting.

And again, when we talk about compounding negative sentiment, it feels like we've

had, feels a bit unfair, doesn't it, that everyone kind of thought we were going to get

this?

Yeah, everyone thought they were coming to buy their bags, but they should build their

own instead.

Yeah.

Yeah.

So.

Yeah.

I don't know.

There's a few questions.

Clarity act, yeah.

The biggest winner there is Tether, so they've played the lobbying game extremely well.

I think it is pretty good, or D5, in general.

I think you're correct in what you're saying there, because if you can't, just

do it through the original sourcing of itself or centralized platforms, I think circle

will kind of baton on that, and coinverse will kind of baton on that.

So the biggest winner is Tether, in my opinion.

And back, back, drama, a drop, yeah, I don't care about that, back, back, back.

Yeah.

D5,000th petrol exchange.

I am ask Karen of all this, like, fit.

Um, yeah, it's, how do you think we come out the other side of this, there's a philosophical

question.

Uh, I think, I think people have got to think very long and hard about how tokens actually

get released to the world.

Um, I think you've got to start seeing some meaningful traction in new areas that is

beyond speculation, that businesses are inherently more profitable or can operate with fewer

employees and have, like, really, really, really strong businesses that compete with the

off-chain counterparts or real-world competitors, but then the opportunity, if that actually

players out, then I put in a weird situation of, like, what's the focal point for token?

I think, yeah, inherently, the industry can do really, really well, if it isn't so focused

on that angle of it, until you get to the point where everyone gets 100% complacent

again and then token start to get tripped fed and which river back to type.

But there's way, too much, there's way, way, way too much token overhang that is left

to play out from 22 onwards of raising on that model and then the token dynamics distribution

is still to play out.

There's so much still to wash out.

It's like, yeah, I don't, I don't really know how it gets out of it, to be honest, I

think my theory is it all the good businesses either are consumer first and they're just

an app and they just sort of happen to run on crypto rails and you never know about it

or everything just fades into the background but it's super, super successful and we stop

talking about it as like crypto companies and there's like the first in a companies would

just be retarded to use, you know, I mean, like, why is that a thing?

It's just an infrastructure layer and I feel like it's been drastically overblown by

people pumping their bags in the private market to then sell out a much higher mark when

it comes to the token actually going live and now people are like, oh, you can't just

like hold up something that isn't inherently doing any good to the world and it's just

like a random piece of infrastructure that nobody gives a fuck about and wonders why there's

so much gravity on a single token that comes to market so yeah, I think the sign in the

right direction and certainly whether it's the right direction because it works or whether

it's the right direction because it's the right intention to do very different things

and I'm going to bring up the mega e thing and I think that that is a, it was a wise and

refreshing way excuse me to think about what you talking should look like and then we've

kind of seen what it's been like over the past week people being furious about KPIs

and this not on the other but this is why it's just fucking idiots investing like this

is what I mean this is there is no you have you have got no benefit in letting just the

average person on the street who knows absolutely nothing about investing and the only thing

that bought is like something I fucking pumped off on or they might have bought something

from another like ICO type platform like the average person knows nothing right and the

average person is very, very, very stupid on a whole right particularly on tour right

so you can't in one hand allow this kind of like situation where you want to galvanize

a community by allowing average people on the street to be able to buy you talking and

become an investor in an early search start and then also wonder why they don't understand

why they're talking it's in common to market in the midst of a bear market that's one

of the most brutal in existence and then wonder why everyone's fucking throwing the toys

out of the prompt because they haven't got access to the talk and like you're giving kids

people the mental IQ of like six the opportunity to invest in something that is inherently

very, very complex market dependent and it's ever changing in dynamic and you're expecting

a boardroom of what like 5,000 people to be all on side it's like it doesn't work structurally

it really doesn't there's like there's way too many cooks in the kitchen there's a reason why

people control the captables and like have as few people as physically possible really that I've

done it themselves you have people that have never contributed anything to humanity ever going

on Twitter shouting from the rooftops because they haven't got their token and the reason why

fucking pissed off about it as well as because they've probably spunked absolutely everything

that they've got put the remaining bag in a fucking mega e if it's illiquid they can't get

all of it and then like things might start slowly moving or there might be new opportunities or oil

might have went up and up and up might have thought oh I'm gonna just fucking win 5x long and oil

and then I made it all back and it's like there is no fucking way like if we were to ever like

raise money and there was opportunity to do like a crowdfund thing it'd be the fucking last thing

that I do yeah yeah like it would be the most like I don't know why teams do it to themselves

sometimes like I had a call with a team that will with a person from a team that will remain

unnamed for obvious reasons and he shared his screen with me at one point and pinned to his

Mac homepage was the token price of the team he worked for and I went oh fuck like I didn't have

a constant reminder of something that is completely out of your control but as full

full control over your mental and emotional state doesn't mean you mean anything

like how many fundamentally sound companies are that lose slowly just refusing to just call

things projects because I think it's fucking to back how many fundamentally sound companies

are that in existence and the token is so distorted from what they're actually doing from a

business perspective that it's just like well what even is that don't need that like overhanging

on your head well right the other thing though as well as the difference between like protocols

and companies you know and like back in the day when we'd have protocols like a protocol is like

by definition like a set of instructions hence you know yeah contractable yeah so it might

actually be a requirement to yeah yeah not if you are trying to give an in any name that comes

ahead doodles doodles yeah 45 million there is actually you know I think I'm off by a fucking factor

10 54 I mean holy shit Anthony Isaacson we thinking long and hard in here

I spoke to Anthony last week they're building something interesting all right so and then

what else have we got just gone back to Newtlite trailer here as well people are just desperate

to recreate the wealth creation that happened with Jupiter and hyper liquid yeah I mean I

had I had a gen on last week obviously when we were yapping just about video stuff and I'm sorry

if anyone who listened to my mic wasn't working I wasn't unaware we'd switched streaming platforms

and I was mortified when I heard that after so apologies for that one someone called it out on

YouTube so I think with Alex and we were talking just about you know generally buying stuff and

gems is just like hype spot and chill I can't really disagree with that I don't that I think beyond

hyper liquid and risk of just hype and zero at risk of just being a boring bastard by the way

because it is boring isn't it let's be honest it like what could you you've got a battle going on

of the end the endless ongoing battle in Solana at the minute who have been dragged sort of through

the mud over the past week with all this kind of stuff with bulk trade um again we had a lot of

topics that we could maybe talk about we were just like it's boring isn't it like just the same old

shit um and yeah it's tough to know where to place your chips really um you know I think back to

like when we do ship on church or sideline and looking at like buys and like what it's very very

tough to know because of just the nature of how everything shifted like when you're talking about

assets and and I think that so let me come out of this with like a question moving forward because

I think we're probably rambling a little bit um will it be a case and this is like such a bear market

thing that's going to come on my mouth by the way is this a case of like the the times of making

really good money in this sector perhaps going to change not because we're in a bear market but

because of what we're going to see and have already seen with the changing nature of talk and

launches you can answer this and tell people or the one are here on what you really think

maybe they're maybe they're lying I can only answer this from personal experience right

you do not make life changing money in the midst of a ball in general it's it's times like these

where you just sat around as you say there's probably like a handful of positions that you could

comfortably hold that to kind of go through like 23% volatility window where you're just comfortable

holding that you don't really give a fuck you kind of you kind of checked out you've got a lot

of a shit that you want to be getting on with it's like downtime so you can actually start building

certain stuff and roll stuff out so last time around that was Salana for me so it was like in the

low teens nibbling away picking up some up in like in the 20s and then I was just like I don't

really care what happens from here I'm just going to hold it and then that is when you can make

as a live changing money when everything's flat everything's dead like you're not getting those

outsides returns when you're buying and like you're getting again when Uber drivers are getting rich

because they've got exactly at $1 and it's went to fucking $1.50 you know what I mean so these are

actually the times like back and down look at where the industry is going the industry will

have like a pendulum theory response where if that is the issue that is happening now what is

the equal and opposite reaction that will go out fold in the right direction

hyper's kind of already doing that has been doing that because they tried to like

govern as a community and make it as fair and equal access as physically possible and get the

talking to market in a way that would be as fair and as opportunistic for people who have supported

it from day one there aren't many other people in the industry there are a few so that's like

that's a bit of a harsh word for around but Brian and Ryan and the Lizzie routine I trust them

to do the right thing right and that is I don't care how good a project is how good a fundamentals

even if they've got like some weird controlled supply over the fucking token which a lot of teams do

hence why you don't see any of these dinosaur coins all off the cliff during bear markets because

99% of the fucking tokens are done by multitudes of different wallets all owned by the same entities

you've got to have trustworthy people that you're backing as well you're betting on the people as much

as you are like the fundamentals of an asset so there's those weird dynamics that you have to kind

of pick up and play with but I think there are a few it's probably a handful that I would be happy

to kind of like hold and kind of replicate that Solana type move that I've just said there and I'm

holding them already type and zero for me yeah um the other thing is you're going to have to have

quite brave teams or stupid I don't know if there's probably some overlap there to launch a token

and really back himself that can actually get out of the case we're strong momentum with a product

because I think more and more now we kind of not to rehash what we just previously talked about

if teams are going to be inherently profitable from day one and there is no requirement for a token

you are not going to see a token so it's going to take a if a protocol like that is like really good

product product market fit and a has to have a token but you're just probably not going to say

as many of them so the question like to wrap up the question of is there outsized returns yes

but not in as not as abundant as it previously would have been it would be very very

concentrated so be a higher quality of product and higher quality of token I'd imagine

um it just won't be like industry wide 10,000X what you used to see in times complex it wasn't

even like every class last cycle is end to 23 onwards wasn't there wasn't industry wide

for market either but that's because like those tokens the distribution schedule on them

is so heavy there's so much gravity on them you just couldn't get out of the gate

so you need to tell me that app in the daily top gain is on coin gack it was not the way

a financial freedom some of those need investigate and buy scc today we have siren up

a hundred and thirty two percent crime yeah um

interesting people are worried that the only way that they could make money is by trade and

magical internet beans and it's probably a USU and not a world issue on industry issue um I'd

argue the most high opportunity PV situation in humanity is happening right now by being a little

speaking to your computer and career companies like yeah and people are still trying to shake

coins and fun I mean look we're in a weird weird sort of like as we speak that you've got

in New York Avenue which is like the ultimate um the ultimate like sort of finance everyone

walking around in suits like we went down in London didn't we and we were like oh this is

kind of an interesting crowd so you've got this interest that's very polite

but it's a dealer it's a dealer dealer coffee cup being in it like yeah but you this is what you've

got there isn't it you've got the the tradfire bear hug being pulled him on direction then you've

got the AI attention matter sucking excuse me everything and the other one and then the underlying

fact that no token has performed very well in the last eighteen months to two years beyond

hyper liquid and stuff really interestingly enough you've got a little bit of a season going on

on bit answer at the minute with Tao and we haven't got five six three on to

we would be here to talk about this and the whole like subnet category there I'll be lying if

I said I knew what had sparked it I've not been super close to it over the last few days

yes and call kindness right again though it feels

strange timing like I think that when detail and everything came around and we were still

covering the podcast doing Tao talk it it was it was probably like this time last year we were in

Denver actually like felt like a very logical especially as AI started to take off it was like

oh this is like a really interesting ecosystem that you could fuck around in and potentially make some

how it was going to make some gains then I don't know I fucking should never use that term but it

feels weird that it's happening now I would say Tim Math was also on a panel with Jensen and he

brought up one of the subnets and Jensen was like yeah there's going to be there's going to be

closed models and going to be open source models and like that's there's not going to be one

so that's sparked it and then Jensen called kindness at least investor new but it's been

talking about quite a lot aggressively saying it's going to 200x I just can't buy something

that little weasel is buying also thing is marketing though is the yeah I don't know

did um did you see the pita tails cow AI investment yeah so Henry bring my screen and please

I've actually cut it off right here AI is coming to farms holtomix AI powered cow collars

valued in two billion the museum and start of helps farmers tracked GPS location monitor cow health

draw virtual fences on an after-hurt cow is where I record it which is a guide to grazing areas

with vibrations and audio cues in color um where are we going with this where are we going with this

they're going to do this to humans in 12 months with pita tails and boiled

yeah it's you know look we came on didn't we and talked about

the title of the stream again this AI course this has gone too far

and what do you think of this things pretty good yeah

yeah like last week the guy using like um chachi beauty to

basically build an mRNA vaccine to personalize an mRNA vaccine for his dog and this dog is like

in remission release cancer and stuff like that so like awesome as long you're going to have both

sides of the spectrum you're going to have the sensationalist kind of clickbait type stuff but then

you're also going to have like baseline medicines and advancements in agriculture and food production

and it's like you're going to be able to print food one day yeah right you're going to be able to

be able to 3D print food one day and then you're also going to get the gindex this is amazing

my age I think that's pretty good 60 euros for average point across Ireland

prefer for a Guinness yeah it is it's it's um it's cheaper than I would have guessed

60 euros my age one was like a tenor is it my age and called every pub in Ireland indexed

the cost of a Guinness 4440 plus pubs did you just say 10 euros for a pint of Guinness yeah

you see there it's got like it go up it's got the range so yeah top top right I think it was like

a double an apple or something which would make sense

fuck you now

yeah what are they what are they by you about eight quid some quid

yeah yeah so that's that's using the eye for good getting the gindex

that's why it's 200 quid it's $200 a month for my fucking card max plan

yeah yeah I was trying to figure out this week because we're going to stag do you know who is

um trying to get one of the model I was trying to get one of the models the best swap the stags

or bachelors for the american listeners um pay us onto a photo with Jeffrey Epstein

but it wasn't over there I was trying to everywhere I was asking Andy how to do it and it's just

what wouldn't work so yeah and all that good no they're not that good yeah Henry's right

licking the bag of your lads I feel that we are as well we've got a cans next week so so what comes

out of that um yeah anyone's around come see us yeah we're gonna do a paddle thing

I think Mike is just in the background pulling it together and loomer and stuff now for anyone

to come down and we're doing the largest stuff for the lotech fuzz out there which I'm really excited

about and leaf eye and despite everything we've been talking about with sentiment can next week feels

like it's gonna be good like there's a there's a funny thing that happens during these periods

where the right people the wrong people disappear and and fade into oblivion and the right people

tend to stick together and be still doing shit that's worthwhile and then come out the other end

and this feels like although it's going to it's a bear market conference it feels like one of them

where I'm like cautiously optimistic going into it that it's going to be quite a good week really

I'm kind of the lot of people that I would hope to be there keep a going so um yeah if you are

going to be good you're going to be showing up just hit us up textors tweeters not textors

faxes faxes faxes I have nothing else to talk about this week really no it's pretty flat um yeah

when do you think uh don't you think the nonsense in the middle east stops

because I'm I've just paid 700 quid for a fucking fly to can I could I went to Thailand

uh pass pass god how are we are we haven't even mentioned that have we probably markets price it in

relatively soon interesting okay sees fire is up um yeah I've just paid like

fucking 20 grand to go to Bali you know a cancel two flights

well so it needs to hook and stop yeah on the plus on the plus side despite the endless

wave of hardship that we all feel like we're facing speaking as someone who spends every day

in this industry and speaks to some good people as I think there's some pretty exciting stuff

going to be shipped in the next like couple of months um and it should give you a reason to believe

I don't know I don't know what it means about tokens and making money and all that kind of

thing that comes with it if I'm honest I kind of hope I don't even really care outside that

but you need something to log on to every day so don't risk being under exposed to the industry

you log into every day yeah all right bye let's call shot shot and swing yep okay see you next