40 Burst results for "10 Year"
Markets Daily Crypto Roundup
A highlight from Crypto Update | Ether Futures ETFs Emerge as SEC Extends Bitcoin ETF Decision Window
"This episode of Markets Daily is sponsored by Kraken. It's Friday, September 29th, 2023, and this is Markets Daily from CoinDesk. My name is Noelle Acheson, CoinDesk collaborator and author of the Crypto is Macro Now newsletter on Substack. On today's show, we're talking about inflation, crypto ETFs and more. So you don't miss an episode, be sure to follow the podcast on your platform of choice. Just a reminder, CoinDesk is a news source and does not provide investment advice. Bitcoin's price jumped again yesterday, accelerating the upward trend. Since the jump, it has been oscillating around $27 ,000. At 10 a .m. Eastern Time, it was at 26 ,895, up 1 .2 % over the past 24 hours. Ether has been doing even better as the first Ether futures ETF starts trading today. I'll have more on this in a moment. Earlier today, Ether was trading at $1 ,669, up twice as much as Bitcoin, at 2 .4%. The boost to crypto market is most likely partly due to accelerated launch of Ether -linked ETFs. These put a convenient wrapper around Ether exposure for retail and institutional investors. It also coincides with a drop in U .S. yields, which suggests that macro considerations are still very relevant. Let's dive into these for a moment. The U .S. 10 -year Treasury yield reached a multi -year peak yesterday of almost 4 .7%, its highest since 2007. We also saw the German bond benchmark yield reach its highest since 2011. The U .K. 10 -year gilts hit levels last seen a year ago during the country's bond crisis. And even Japan's 20 -year government bond yield rose to its highest level since 2014. In the latter half of the U .S. trading day yesterday, however, sentiment seemed to turn. Bond prices started to recover, bringing yields down. This coincided with yesterday's jump in the Bitcoin and Ether prices I mentioned above. Yields in Europe today continued the trend. And then early this morning, we got good news on the inflation front. The U .S. Personal Consumption Expenditures Index, known as the PCE, came in slightly better than expected. This is significant, as the PCE is the Federal Reserve's preferred inflation gauge as it measures goods and services bought by all U .S. households and nonprofits. The CPI, in contrast, only measures purchases by urban households. The Core PCE Index, which strips out energy and food, grew by 3 .9 % year -on -year in August. This is still above the Fed's target 2%, but it is lower than July's 4 .3 % year -on -year growth. So far, this has been achieved without a strong spike in unemployment. The downward direction of core PCE growth suggests that the Fed might be able to avoid another rate hike this year. It's too soon to tell, obviously, and the tea leaves are going to get more complicated to read given the government shut down that, barring a last -minute save, starts tomorrow. Next Friday would have given us the latest official employment data, a key factor in the Fed's thinking and in investors trying to with a private sector proxy out on Wednesday. This is useful, but the two data points are not always correlated. Moving over to stock markets, on the back of this good news, U .S. stocks seem to be determined to claw back some of their September losses before the month ends. Yesterday, the S &P 500 was up almost 0 .6%, and so far today is continuing its upward trend another 0 .6%. The Nasdaq, which in theory is even more sensitive to interest rate expectations, is up double that. The more industrial Dow Jones is up only 0 .2%. This is starting to look like a risk -on rally. However, today is the last trading day of the quarter for traditional markets, so there could be some repositioning as well as options expiry manoeuvring going on. Europe also got some good news this morning on the inflation front. The Eurozone CPI came in better than expected, with a 4 .3 % year -on -year increase for September. This is its lowest level in two years and is notably down from August's 5 .2 % increase. Stripping out energy and food, the Core Index grew by 4 .5%, down from 5 .3 % in August. Good news there. This has been Boosting Equities. Earlier this morning, the German DAX was up over 1 .1%. A similar story is playing out in Japan, where the Tokyo Core CPI index increased by 2 .5 % year -on -year in September, lower than expected, and lower than August's 2 .8%. A sell -off in the country's bonds continued, however, and the government resorted to unscheduled bond buying overnight to support the market. The intervention was small and could just make traders even more nervous. The Nikkei stock index was down slightly on the day. In commodities, the oil price is retreating from yesterday's highs in response to the respite in bond yields. The Brent crude benchmark is down over 0 .6%, trading at $93 .5 per barrel. Gold was also weaker today as markets adopted a more risk -on mood. Earlier it was trading at $1 ,860 per ounce, down 0 .25%. Over the past month, gold is down just over 4%. Stay tuned, after the break we'll take a look at more moves on the ETF front.
Spellcaster: The Fall of Sam Bankman-Fried
Fresh update on "10 year" discussed on Spellcaster: The Fall of Sam Bankman-Fried
"Investors, not traders, and so this market actually a feels little more normal than what we've gone through for the last 10 years. John, on the equity side here, some of the performance, or most of the vast majority, if not all of the performance in the S &P 500, it's been from a handful of names, the Magnificent do Seven, you chase those here or do you try to look for some of the names that have not participated? You know, Marc Andreessen wrote years ago that software is eating the world, and so that is a secular change. It's kind of like the Industrial Revolution. On the other hand, Howard Marks says beautifully that there is no asset in the world that's a good investment at any price. It depends on the name. You've got to go name by name. the And by way, there are other companies that we like that are not. We do like the tech set. We like the U .S. relative to the world because of our exposure technology. Hear the full conversation on the The Tape Podcast. Subscribe on Apple, Spotify, and anywhere else you get your podcasts. anytime Plus, listen on the Bloomberg Business App and Bloomberg .com. The Bloomberg Business... Warning. The following message contains an app available to resist. Girl, how do you keep getting all these things for free? Coffee, makeup, and now lunch? You haven't heard of the Drop app? Drop is a free app that rewards you for shopping at places like Ulta, Adidas, and Sam's Club. I've already earned $100 this month. Download the Drop app and get it at $5. Use invite code GETDROP222. Do you need to let customers switch to a voice call without leaving your app and then use AI to answer their questions instantly over the phone? Vonage does that. With Vonage Voice API, you get click -to -call connectivity in your app or website, and you can connect to customer data to provide more personalized service. Create custom AI voice experiences even
CoinDesk Podcast Network
A highlight from MARKETS DAILY: Crypto Update | Ether Futures ETFs Emerge as SEC Extends Bitcoin ETF Decision Window
"This episode of Markets Daily is sponsored by Kraken. It's Friday, September 29th, 2023, and this is Markets Daily from CoinDesk. My name is Noelle Acheson, CoinDesk collaborator and author of the Crypto is Macro Now newsletter on Substack. On today's show, we're talking about inflation, crypto ETFs and more. So you don't miss an episode, be sure to follow the podcast on your platform of choice. Just a reminder, CoinDesk is a news source and does not provide investment advice. Bitcoin's price jumped again yesterday, accelerating the upward trend. Since the jump, it has been oscillating around $27 ,000. At 10 a .m. Eastern Time, it was at 26 ,895, up 1 .2 % over the past 24 hours. Ether has been doing even better as the first Ether futures ETF starts trading today. I'll have more on this in a moment. Earlier today, Ether was trading at $1 ,669, up twice as much as Bitcoin, at 2 .4%. The boost to crypto market is most likely partly due to accelerated launch of Ether -linked ETFs. These put a convenient wrapper around Ether exposure for retail and institutional investors. It also coincides with a drop in U .S. yields, which suggests that macro considerations are still very relevant. Let's dive into these for a moment. The U .S. 10 -year Treasury yield reached a multi -year peak yesterday of almost 4 .7%, its highest since 2007. We also saw the German bond benchmark yield reach its highest since 2011. The U .K. 10 -year gilts hit levels last seen a year ago during the country's bond crisis. And even Japan's 20 -year government bond yield rose to its highest level since 2014. In the latter half of the U .S. trading day yesterday, however, sentiment seemed to turn. Bond prices started to recover, bringing yields down. This coincided with yesterday's jump in the Bitcoin and Ether prices I mentioned above. Yields in Europe today continued the trend. And then early this morning, we got good news on the inflation front. The U .S. Personal Consumption Expenditures Index, known as the PCE, came in slightly better than expected. This is significant, as the PCE is the Federal Reserve's preferred inflation gauge as it measures goods and services bought by all U .S. households and nonprofits. The CPI, in contrast, only measures purchases by urban households. The Core PCE Index, which strips out energy and food, grew by 3 .9 % year -on -year in August. This is still above the Fed's target 2%, but it is lower than July's 4 .3 % year -on -year growth. So far, this has been achieved without a strong spike in unemployment. The downward direction of core PCE growth suggests that the Fed might be able to avoid another rate hike this year. It's too soon to tell, obviously, and the tea leaves are going to get more complicated to read given the government shut down that, barring a last -minute save, starts tomorrow. Next Friday would have given us the latest official employment data, a key factor in the Fed's thinking and in investors trying to with a private sector proxy out on Wednesday. This is useful, but the two data points are not always correlated. Moving over to stock markets, on the back of this good news, U .S. stocks seem to be determined to claw back some of their September losses before the month ends. Yesterday, the S &P 500 was up almost 0 .6%, and so far today is continuing its upward trend another 0 .6%. The Nasdaq, which in theory is even more sensitive to interest rate expectations, is up double that. The more industrial Dow Jones is up only 0 .2%. This is starting to look like a risk -on rally. However, today is the last trading day of the quarter for traditional markets, so there could be some repositioning as well as options expiry manoeuvring going on. Europe also got some good news this morning on the inflation front. The Eurozone CPI came in better than expected, with a 4 .3 % year -on -year increase for September. This is its lowest level in two years and is notably down from August's 5 .2 % increase. Stripping out energy and food, the Core Index grew by 4 .5%, down from 5 .3 % in August. Good news there. This has been Boosting Equities. Earlier this morning, the German DAX was up over 1 .1%. A similar story is playing out in Japan, where the Tokyo Core CPI index increased by 2 .5 % year -on -year in September, lower than expected, and lower than August's 2 .8%. A sell -off in the country's bonds continued, however, and the government resorted to unscheduled bond buying overnight to support the market. The intervention was small and could just make traders even more nervous. The Nikkei stock index was down slightly on the day. In commodities, the oil price is retreating from yesterday's highs in response to the respite in bond yields. The Brent crude benchmark is down over 0 .6%, trading at $93 .5 per barrel. Gold was also weaker today as markets adopted a more risk -on mood. Earlier it was trading at $1 ,860 per ounce, down 0 .25%. Over the past month, gold is down just over 4%. Stay tuned, after the break we'll take a look at more moves on the ETF front.
Masters in Business
Fresh update on "10 year" discussed on Masters in Business
"BlackRock CEO Larry Fink not too happy about it. I think a shutdown for a country that has trillion 33 dollars of debt, that is not a good outcome. When you have that type of debt, what are we telling the lenders? 40 % of the US treasury market are owned by entities. And Fink there with Bloomberg's Danny Berger at the Berlin Global Dialogue Forum. And for more on why Fink thinks borrowing costs and the yield on the 10 -year treasury are going up from here, check Bloomberg Talks podcast, which you can hear wherever you get your podcasts. And weight loss drugs, including Ozempic, are somehow seeing to lighten the financial load at the of end the year. United Airlines would save $80 million a year if the average passenger weight falls by 10 pounds. The report was part of a broader Jeffries analysis of public enthusiasm for the drug and potential beneficiaries of its use. Weight is a major concern for airlines because the more a plane weighs, the more fuel it burns. Fuel and labor are the two largest expense for carriers with fuel accounting for about 25%. Charlie Pellet, Bloomberg Radio. All right, thank you, Charlie. And Global News, 24 hours a day, powered by more than 2 ,700 journalists and analysts in over 120 countries. In the newsroom, I'm Denise Pellegrini. This is Bloomberg. The global leader in business and financial news is now live on YouTube. For our audience worldwide, this is Bloomberg News. Thanks for watching. News, and insight from Bloomberg's signature radio shows. Surveillance, markets, sound on, and business week. We've got a rally in stock. More breaking news today from the Supreme Court. Bloomberg Radio. Watch us every business day, live on YouTube. Search Bloomberg Global News. Bloomberg Radio. Context changes everything. This is Bloomberg This is Masters in Business with Barry Ritholtz Radio I'm Barry Ritholtz. You're listening to Masters in Business on Bloomberg Radio. My extra special guest this week is Gary Cohn. He is the former director of the National Economic Council under President Trump. Previously,
Tech Path Crypto
A highlight from 1272. BlackRock CEO Hints at DeFi & Bull-Run! | FULL BREAKDOWN
"All right, so let's drill down into Larry Fink's brain today. We're going to do this. He did a big interview at a Bloomberg event, and it breaks down a lot of not only his ideas of where the markets is going, but also some of the technologies within crypto that are going to affect all of this. I'll break it down for you guys today. My name is Paul Bearer. Welcome back into Tech Path. All right, let's get into our first clip. And this first clip is breaking down interest rates over the next few years, what it looks like from the man himself. Larry Fink, listen it. You have Jamie Dimon, for example, saying rates in the U .S. could go to 7%, and we're not ready for it. Is he right? Look, we all have opinions. I mean, I've been saying for over a year - I want to know your opinion. My opinion is we're going to have 10 -year rates at least at 5 % or higher. All right, so you heard it, higher, longer 10 -year rates holding on to that, but yet still very optimistic in terms of the overall position, so a little bit more hopeful. Rick Ryder, who is one of the key investment guys there at BlackRock, who manages like almost $3 trillion in assets, he also came in on this clip. Listen in to what he had to say. So I think there's a couple of things that are going to happen. I think when the Fed starts, and I think they'll start cutting rates in the second half of the year. I don't think they're in any rush that they need to do it. Second half of this year? Second half next year. Okay. Just wanted to make sure. Thank you for that clarification. I would have been buying stocks. Yeah, yeah, yeah. All right, so he's looking toward the third quarter next year. We talked about that before, is that that most likely will be the case with this higher for longer approach that goes into this. Now, the key here is, is what is causing this? Now, what are we seeing this in terms of the market disarray, the pushback, the consumer spending that's been holding inflation high? They get into it a little bit here around wages being too high. Listen in. The whole idea about restricting immigration. And in the United States, we've had close to a trillion dollars of fiscal stimulus just beginning its J curve. These are huge job creators and at the same time we have restricted immigration and as a result of it, you know, we see more wage pressure. So at what cost? We have in the United States, a very protracted strike between the auto workers and the auto companies. It has been reported that the union is asking for a 40 % increase. So at what cost? What do you do with a problem like that? Right now, I think in our mega trends, right now we are under invested in China. Under invested in China. That's interesting. OK, so a couple of points here to make and also to kind of references the framework of why these strikes are occurring, especially with the United Auto Workers strike. You look at it and it really boils down to corporate greed. I mean, at the essence, you've got all these car companies who have been feasting on American consumers for quite some time, for the last couple of years. Here's Stellantis as an example all the way back to 2016 when they were kind of flat and then right there 2018 blows up. Obviously, we saw the impact on the markets and then just this continued climb of Stellantis stock price. Now, part of that has been just because obviously car sales have continued. So his point of that wages are too high, that this is causing a lot of disarray within the market, there's an alternative to that as well. Let's go to this next clip, because Biden, actually, it's an article here, Biden actually responded to a little bit of this issue around the UAW. Remember, he's very pro -union, but his statement was he asked if he supported the 40 percent increase on the union and asked for it. He said, hey, listen, it's it's really more of a bargaining chip, really, than anything. And I would agree, you know, because it's kind of you ask for the highest amount you can and then you settle in with where it may end up. And I think that's what Stellantis is going to end up doing here as we go further. Remember, the key here with think is if you are very pro and I'm pro capitalist guys, don't get me wrong, but if you're a super capitalist, meaning you are absolutely just wanting to run amok within corporate greed, then you do want a lot of immigrants coming into the country and you want these kinds of mainly from just an optics standpoint, because it does start to put pressure on American workers. And I think that's the thing that everybody is looking at is how do we keep job wages low? And when I say everyone, meaning these capitalists that are really pushing at this. So this gets into some pretty big issues right here, even though he's asking for more immigration. I want to play this next clip to show you just kind of where immigration currently is. Let's listen in. In just one week, they came by the thousands, group after group after group of migrants streaming into Eagle Pass, Texas, prompting the border town to declare a state of emergency and straining the nation's immigration system. Again, the Border Patrol encountered a record two point two million people crossing the border illegally. The numbers went down a bit in the fiscal year ending this month, but are still high. Anybody that thinks this is a secure border is delusional. And this is something you see every day. All right. So as you can see there, does it look like we're restricting immigration at all? I think his point is really, really more toward the whole idea of, you know, higher wages being pressured, getting into that side of it. All right. So let's get into this next clip that talks about the recession and whether or not it's going to be bad, good, all that good stuff. Listen to what he had to say. Does that mean we are headed for a recession right now? I think we're going to see some economies enter recessions early. Which ones would that be? Well, I think Europe is more sensitive to the ones that are more sensitive to this elevated interest rates. Whatever the recessions we're going to have, they're going to be quite modest. So I'm not even that fearful. In many areas, you may need a recession to bring down labor demand. All right, so again, back to the point he's talking about, that's profitability and a lot of companies, once you bring down labor demand, that's one of the biggest issues there. He also gets into the point of what could be the catalyst to cause longer, a longer recession play into this. Here's what he had to say. So throughout history of U .S. growth slowdowns, we have underestimated every single one of them. Are you confident we're not making that same mistake again? If fear becomes worse, then consumers pull back and the recessions are going to become more protracted. We have elections in so many places in the world. We are going to have many political candidates who are going to provide a lot of fear. I think the political winner is the one who provides the most hope for the future or what people believe with the hope of the future. Do you see that, though? Do you see anyone projecting hope? I dearly hope so. I'm projecting hope. Larry for president? I don't know. No, I'm too young. I love that. All right, so I want to get into an area around reimagining bank lending, and this is where it starts to get into crypto or at least the underlying efforts of what he's thinking about crypto, because this is going to be kind of that format of how crypto will start to integrate into the banking system. Let's know what he had to say. We need to reimagine finance because of Dodd -Frank in the United States. Banks can't lend. And more of that, you know, the world doesn't want to get to the developing countries. They lend well, but clearly. All right, so obviously that's where, you know, stablecoins, DeFi, this starts to solve all those problems that we're going to be looking at around tokenized assets. I want to go to a clip here from Bankless asking really what's holding this back. Listen in to what they had to say in this interview. What you're buying today when you buy a stablecoin on the back end, it's cash and cash equivalents. That's an accounting term to say treasuries, repos and some cash in banks. The thing that is not like flowing through is the yield component. So you're getting a zero percent yield on your stablecoins today. So I started looking at someone has to have built something that solves this problem and no one had. The big challenge here is how do you bridge these two worlds, giving clarity on the real world asset side? So someone has to hold a treasury, a treasury bill, and that person was buying those treasury bills. At small scale, you can buy, but if you're starting to buy anything at meaningful scale, you have to show where the money came from and that where the money came from, the compliance AMLKYC component was hard to do. So we said, OK, if we want to offer this, you have to be regulated to do this at scale. And that is the biggest challenge that everyone in this industry faces is how do you answer that regulatory or legal structure in question? It sounds like what you're trying to build is the largest pipe possible between the government, United States government, risk free rate and DeFi. And right now you're saying that this pipe is actually constrained by our current stablecoin paradigm, the current meta of stablecoins, because you go through it vanilla dollars first when really you can just go more, let's get right to the punchline of this whole thing, which is like, let's take the yield of the risk free rate and get it into DeFi.
WTOP 24 Hour News
Fresh "10 Year" from WTOP 24 Hour News
"Wants to be out here. We want to be in that factory working, making great product, making money for the company and making money for ourselves. comes But there a point in time where you've been abused enough, you have to stand up for yourself and this is it. This is our generation's defining moment. Either we turn this around now or we're going to be in big trouble down the road. The strike has now been going on for two weeks. The first co -defendant of Donald Trump pleaded guilty the in Georgia election interference case. CBS' Nora O 'Donnell reports. Bail bondsman Scott Hall is accused trying of to breach election equipment to access voter data. He's one of 19 defendants indicted for trying overturn to the 2020 election in that state. Hall will receive five years of probation and he's agreed to testify. US postal workers are worried about job cuts. Mail carriers for the US Postal Service are delivering a message. They don't like potential job cuts. Hundreds of clerks could be laid off as part of the Postal Service's 10 -year plan to consolidate operations. It has culminated in closures of offices. It's the destruction of jobs. They are laying off. Miriam Bell is president of American Postal Union 475 in Charlotte, North Carolina. Jim Criscilla, CBS News. The US Postal Service had previously discussed other ways to reach a solid financial footing, including cutting back on Saturday deliveries. This is CBS News. If you need to hire, need you Indeed because Indeed's all -in -one hiring solution helps you attract, interview, and hire candidates all from one place. Visit indeed .com slash credit. It's 603 on Saturday morning, September 30th, the last day of the month. Music playing. Music playing. Good morning, I'm Dan Rona and thanks for joining us here on WTOP, the top local stories that we're following this
Telecom Reseller
A highlight from World Data Products Int. (WDPI) achieves ITAD certification, Podcast
"This is Doug Green, and I'm the publisher of Telecom Reseller, and this is a special podcast for the ASCDI, and I'm very pleased to have with us today Neil Vild of WDPI. Neil, thank you for joining us today. Thanks, Doug. Great to be with you. Well, it's really wonderful to be able to do this podcast on behalf of the ASCDI. You're a very long -term, very active member of this association, a very prominent person and company within this industry and within this organization, so it's really a pleasure to have you here today. We're going to be talking about your recent certification, or really certifications, with ITAD and how that changes the game and why that's important to ASCDI members, to the community and to many technology companies, enterprise companies that might be just happy to be listening or watching. So we're going to dive into that in a second, but Neil, first of all, what is WDPI? So WDPI stands for World Data Products Incorporated. We've been in business since 1987 in the Minneapolis suburbs, currently in Plymouth, Minnesota. We started off as an independent hardware reseller, selling brands originally manufactured by companies such as Cisco, HP, Dell, and IBM. We're also an authorized reseller of Dell. Along the way, over those last number of years, we developed an internal repair business, which we can offer to clients as well, where we repair all of those items I mentioned that we can go down to the board level, repair power supplies, other devices such as laptops and Chromebooks. And then about 10 years ago, we acquired a company in the certified tape media business that basically goes out and acquires used tape media, those cartridges that everybody remembers, and we bring those back to our facility, fully eradicate the data and resell them. And that's the business that really got us into ITAT services about 10 years ago. That company, and we still do that, has a team of people that goes onsite and does IT hardware decommissioning, onsite audits, data sanitization, secure transport, and a host of other ITAT related services. So in fact, you guys had really been sort of in the ITAT market already, and this sort of solidifies that position. It does. And we decided to pursue these certifications for a number of reasons. One, our customers started to ask for them, both on the end user side and the wholesale side. We deal direct with end users, we also go through other resellers, and we work with other ITATs as a subcontractor. And as a number of them have been paying more attention to data security and the environment, they've been asking us about these certifications. So one of the reasons we pursued these was to really be responsive to our customer requests. Another is we view it as a differentiator. Those are really confirmation of the standards that we have. Not everybody has that certification out there. More people are getting it, which is great for business and for the environment. And thirdly, it really helped us improve our processes in certain areas and kind of raised the bar. So it was a win -win among all three of those elements. Let's dive a little deeper into ITAT. So first of all, can you explain to me what ITAT is? What does that mean? ITAT, IT Asset Disposition. It's a whole host of offerings and processes where, you know, starting if a company is looking to, you know, upgrade or refresh its data center or close something down, it needs to really find a responsible home for the used equipment, whether that's in a resale environment or in a recycling environment. Part of that involves onsite services, such as I mentioned, you know, data center decommissioning, data sanitization, whether that's onsite or at our site, the commitment to either resell these devices, which could be economically beneficial to the seller and to the purchaser, also making sure that the data is fully eradicated. But then in some cases, the data bearing devices have to be destroyed either logically or physically. And that leads us into working with responsible recyclers who can track these devices, provide certificates that they've been disposed of in an environmentally sound manner. So it's a whole host of services and processes. We don't have the time to go through that. That'd be a several day podcast, Doug, but I know we're a little bit time constrained today. Well, you know, as you can see behind me, it looks like beams of light are coming off my head, I think, but I'm actually reporting live from Las Vegas at the Mobile World Congress. Lots of carriers here, lots of enterprises, lots of interests. You know, this is a good example for this question. Why does it matter to the outside world? Why does ITAD matter to really everybody? Well, it matters, it's the biggest issue is really sustainability and protecting the environment. But there are also other elements within these certifications that are more internally oriented for the welfare of businesses and our employees. You know, if you go down the list, the R2 -V3 is really a phenomenal standard. You know, really stands for responsible recycling and reuse. Some really strict requirements on data sanitization and eradication and data security, which is a real differentiator. Part of these certifications involve several ISO standards, ISO 9001, which is a quality management standard, your world data had been ISO 9001 certified for about the last 10 years. So we renewed that one. ISO 14001 is environmental management. ISO 45001 is employee health and safety. And we're very proud of world data. We've been have a track record of over three years of accident free operation in our facility in Plymouth. And we intend to keep that going, God willing. And then the ASCDI ITED certified certification is also very important where, you know, in addition to the processes and the operational aspects that those other standards focus on, ASCDI adds to it the commitment to a code of ethics, which is unique in the industry. And every ASCDI member has to adhere to that. You know, we have stringent membership requirements for that association. And so as a long time member, as our company, a long time board member and former chairman of ASCDI, I am very proud to see our association going in that direction as well. So, you know, Neil, it sounds like this is also a great opportunity for the channels to go out there and sell a really amazing value added service. It is, Doug, you know, it helps the channel in a number of ways. One, you know, given and also end users in terms of the resale value that we can achieve for the equipment that is, you know, coming through the ITED process, you know, the highest and best use of a piece of equipment is to keep it in use. And, you know, the origin of our business was hardware resale. So our wholesalers or equipment traders know how to maximize the value of that equipment for the client, whether that's an end user client or a wholesaler or another ITED who has the end user relationship. So that is a huge advantage, I think, that World Data can deliver, given our history of being in that resale market. We're not just turning it around and flipping it on eBay or somewhere else. We can really maximize value. So, you know, Neil, it also sounds like, you know, channels should be really alert to this because if you're working with customers and you're in the course of sales and working with them, you're pulling out equipment, you are really not doing them a service if you're disposing of it incorrectly. That's correct. And so by virtue of the processes we've always had, plus now with the new certifications, you know, we're disposing of everything appropriately. You know, items that can be reused will be reused and resold at the maximum value we can get. Items that are no longer suitable for reuse will be recycled in a proper manner. And so, you know, channel partners can trust us as they've trusted us with, you know, other areas of business since 1987 to do the right thing and to uphold, you know, the environmentally sound and business sound practices. Another advantage we can offer is additional resources and feed on the street. You know, some of these ITAT opportunities are, you know, to use a technical term, lumpy. You know, they're not necessarily regular. And if a project comes up where a channel partner needs additional resources, whether that's feed on the street or processing capability, warehousing or logistics, we can offer that through our facility in Plymouth, Minnesota, from a facilities perspective. But we can also send our team, you know, anywhere in the country to help with onsite projects. You know, Neil, with regard to the end users of the enterprises, we're living at a time of great transition, hybrid companies getting rid of whole floors of office space and all the equipment on those floors. Sounds like enterprises need to be alert to this too. They do. And hopefully, you know, with the movement toward ESG and environments, you know, social aspects, governance, I think more enterprises are becoming aware of this. In fact, they're adopting goals along these lines. So we're here to help in terms of achieving those particular goals. And again, it's the right thing for the business. There are certain business objectives that can be met and environmental objectives that can be met. Does – you said when we were preparing for a podcast today that it even has some opportunities for the other ITAT companies. The benefit we could offer to other ITAT companies is, as a subcontractor, we can facilitate your broader reach, the processing capability that we have, the resale capability that we have to maximize value, relationships we have with responsible recycling partners, and also logistics. We have a facility in the upper Midwest that is very convenient to several major cities, can help reduce costs of transportation for this equipment. You know, we can't – if we can ship it via ground versus air, for example, or the closer it is, we can go pick it up with our own people on secure trucks and that sort of things. We can help reduce costs and increase their reach and provide a better service to the end -user enterprise customers that the other ITATs have. So Neil, you were telling me something very interesting that is unique about WTPI amongst the companies in the ASCDI, maybe in the – really most of the ICAT industry as well. Well, we were fortunate, Doug, to actually buy back the company from a private equity investor about 18 months ago. And now we are 100 % owned by nine employees and we're not an ESOP. You know, these ESOPs have different kinds of restrictions. But I think it's unique in our industry that we're a fully employee -owned company of that nature. You know, many times it's founders, founder and spouse, sort of an inner circle of owners. And I'm really proud that we've been able to offer this common equity ownership to a broader range of employees. And it is unique, I believe, in our industry. And certainly our people are very revved up about that. And I'm very happy to see that. Well, Neil, you know, we've talked in our conversation today about enterprises, about channels, about different types of companies. How does everyone do business? How can we learn more about your company and these services? Well, we have our website, which has extensive content on that and contact information. Feel free to email me, neil .ville at wdpi .com. That might be on the screen later, maybe not. But I'm in the ASCDI directory. I'm on LinkedIn. We have a great team of people, too, who I could direct anybody to for particular, more detailed advice on resale, valuation of products and that sort of thing. But certainly please contact us in whatever is easiest method for you out there. And we'd be happy to help. Well, Neil, I really want to thank you for joining me today. This has been really interesting. I hope you get to do one in a few more months and find out how everything's going. Update us on what you guys are doing. But for now, thanks very much. Thank you, Doug. Look forward to that. Appreciate the time. Thanks very much.
Spellcaster: The Fall of Sam Bankman-Fried
Fresh update on "10 year" discussed on Spellcaster: The Fall of Sam Bankman-Fried
"Fink made the comment at the Berlin Global Dialogue Forum. We're have going to 10 -year rates at least at 5 % or higher because of this embedded in inflation. This structural inflation is unlike anything and I think business risk. BlackRock's Larry Fink. So with the 10 -year now at about 4 .5 %, what about Dana the outlook? Dioria is Co -Chief Investment Officer at InvestNet Solutions. Is it really that surprising where 10 years are given where two years are given all the economists the newly minted bulls that we've had we've had in the last few months. Even the Fed itself saying hey we're we think going to stick the landing there's no recession here. You can hear more of the conversation with Dana Dioria on the Surveillance Podcast and you can download it wherever you get your podcasts. Another headwind for the inflation outlook has been rising energy prices Stephen Shork is the president of the Shork Group. I'm afraid now with the situation we're seeing in supplies crude oil supplies at the NYMEX delivery hub in Oklahoma we're at very low supplies there's going to be a tremendous strain on the market already is. Shork Stephen of the Shork Group you can hear more of that conversation on the Surveillance Podcast you download can it wherever you get your podcasts and even with higher oil prices Mark Haefeli of UBS says energy stocks have yet to capture all of their upside potential. Well we think that that they haven't really seen the earnings catch up with these higher prices and we think that there can be some persistence in these higher oil prices. Mark Haefeli of UBS stocks end of the day mixed the Dow was down 158 points down five tenths of one percent S &P down for a fourth week it fell 11 points today down three tenths of one percent then stack up one tenth of one percent. Global news power by more than 2700 journalists and analysts in over 120 countries. I'm Charlie This is the Spellcaster Takeover on Bloomberg Radio As Sam Bankman -Fried appears in court this week listen to the podcast that chronicles the rise and fall of the FTX founder. Brought to you by Bloomberg and Wondery Spellcaster takes you inside the story of how nerdy a gamer became the world's richest 29 year old. Listen ad free on Wondery Plus on Apple Podcasts and Amazon Music and right here on Bloomberg Radio. I'm Hannah Miller and this is Spellcaster the fall of Sam Bankman -Fried It was late October of 2022 when Goldberg Mike got the email I clicked on it looked at it and then yeah I honestly I laughed
Book Club with Julia and Victoria
A highlight from 117 Beyond the Story by BTS & Kang Myeong-seok A Memoir or an Official Wiki?
"What is book what the heck is this book what is it the main thing i got from it was like this sense of feeling seen and validated well why does it have to be this way this book was placed in my hand for this moment insightful learned a lot wrote some quotes that i'm ready to like paint on my wall i love this book that we just kind of pull out some some of the big things that we see and talk about a few different ones i apologize if most my contribution has k -pop references alternative book title the feminine mystique part two you're really just gay welcome to book club with julia and victoria we are two friends who find making and presenting power points on their special interest via super fun way to spend two hours on a saturday night it was the best time i had such a great time with you yesterday and we'd like to be your book friends this is a podcast for the books we just can't shut up about and this one is truly for julia and i'm here as the bestest of friends along with two lovely guests we will introduce in just a moment this week we're talking about beyond the story a 10 -year record of bts written by kang myung suk along with bts's interviews and translated by anton herr claire the first official biography charting the inception and rise of the global sensation kpop boy group bts and this is very much an official biography sort of by and about the company as much as about the artist so we're here to kind of talk about what exactly is going on with this book and bring in some special guests very very quickly before we introduce them if you'd like to support the show you can rate review and subscribe on any and all podcast platforms. If you're in the market for buying some books, you can go down into the show notes. Any book links that are there will take you to our affiliate page on bookshop .org and we get a very small kickback from those. And if you'd like to join the club, you can go to buymeacoffee .com slash book club with JB, where we have all of our archived episodes, a bunch of bonus content, all kinds of fun stuff. And that's it. Our special guests, husbands Adam and RJ are here. They have been podcast hosts since 2015 and can currently be found on the Ampliverse channel, hosting and producing shows like Did You Read the Group Chat, Showgaze, a movie musical podcast, and their own Boys Love series, where they recap idol survival shows like Boys Planet and Queen Dumb Puzzle, dating shows like His Man and BL series like The 8th Sense, and they're currently recapping Cherry Magic. Victoria doesn't know what any of this is. It's okay. The word salad.
Spellcaster: The Fall of Sam Bankman-Fried
Fresh update on "10 year" discussed on Spellcaster: The Fall of Sam Bankman-Fried
"JP Morgan Chase says we are driving and flying less Clorox, Pine, Saul and Kingsford charcoal may be a little easier to find in stores again. Clorox, which owns all those brands, says its manufacturing sites are back in operation after a cyber attack in august forced it to stop some of its production. Now Clorox says it's ramping back up and working to restock inventories. On Wall Street, the S &P and Dow fell a quarter to a half percent. The Nasdaq added a tenth of a percent, the Dow down 159, the Nasdaq up 18, the S &P down 12. For the quarter, three all averages fell at least two and a half to more than four percent. Joan Doniger, Bloomberg Radio. And I'm Charlie Pellet at Bloomberg World headquarters. It is on to the trading month of October, a losing week, a losing month and a losing quarter. Michael Sheldon is chief investment officer at Hightower RDM Financial. I think September has lived up to its reputation as being a difficult month for the markets. And we had a pretty good first few months of the year, but things have sort of tailed off here recently. And you can hear more of that conversation with Michael Sheldon on the Bloomberg Businessweek podcast. You can download it wherever you get your podcasts. Well, certainly rising bond yields are one concern for equity investors. BlackRock's CEO Larry Fink is expecting 10 -year Treasury yields to top 5 % as Shifts in geopolitics and supply chains make inflation more persistent. Fink made the comment at the Berlin Global Dialogue Forum. We're going to have 10 -year rates at least at 5 % or because of this embedded inflation. This structural inflation is like anything and I think business leaders and politicians are not providing the foundation to help explain this. BlackRock's Larry Fink sold the 10 -year now at about 4 .5 %. What about the outlook? Dana Dioria is Co -Chief Investment Officer at the Global Berlin Dialogue Forum where 10 years are given where 2 years are BlackRock .com. in all the economists, the newly minted bulls that we've given. You can hear more of the conversation with Dana Dioria on the surveillance podcast and you can download it wherever you get your podcasts. Another headwind for the inflation outlook has been rising energy prices. Stephen Shorke is the president investment advice. I'm afraid now with the situation we're seeing in supplies, crude oil of BlackRock .com. Thanks for watching. Thank you. a Mediterranean on the market already is. Stephen Shorke of the Shorke Group. You can hear more of that conversation on the surveillance podcast. You can download it wherever you get your podcasts and even with higher oil prices. Mark Haefeli of UBS says energy stocks have yet to capture all of their upside potential. Well we think that they haven't really seen the earnings catch up with these higher prices and we think that there can be some persistence in these higher oil prices. Mark Haefeli of UBS. Stocks end of the day mixed. The Dow was down 158 points down five tenths of one percent. S &P down for a fourth week. It fell 11 points today down three tenths of one percent. NASDAQ up 18 up one tenth of one percent. Global News powered by more than 2 ,700 journalists and analysts in over 120 countries. I'm Charlie Pallet and this is Bloomberg. It's time for today's... Access a vast selection of global fixed income securities at Interactive Brokers Bond Marketplace. Search their deep availability of over 1 million bonds globally. IBKR has no markups or built in spreads and low fully transparent commissions on bonds. IBKR AR displays the highest bids and lowest offers received from the electronic venues they access. In addition, clients can interact other with each by placing bids and offers online to execute their trades. Learn more at bonds. Today with tools like Nanome's virtual reality lab, students can use the metaverse to study complex subjects. They can manipulate molecular structures in 3D, paving a way for a deeper understanding. Learn more at meta .com slash metaverse impact. Do you need to let your field agents turn voice calls into video to get help from experts who can actually see what they're seeing? Vonage does that. With Vonage Video API, that's just the start. Get one -on -one and group video meetings on desktop, mobile, embed everything from video meetings to large -scale broadcasts on your website and even help developers without video expertise build live video apps. With Vonage Video API, live video works harder for
The Bitboy Crypto Podcast
A highlight from Ethereum ETF LAUNCHING Monday?! (Leaked SEC Documents)
"Good morning, everybody. It is September 28th. It's 1130, and it is time to discover crypto. We got Tim and BJ on the ones and twos. How are you two doing today? I'm doing fantastic, man. Alright. Ready for the show. BJ, are you in the silent era? Yes. Okay. He's in the silent era. Guys, we got a great show today. We're going to talk about the Bitcoin 1 %ers. We're going to talk about ETH futures ETF and how a senior analyst of ETFs at Bloomberg thinks it is going to be approved on Tuesday, folks. And that's why maybe you're seeing this huge, huge pump in ETH and a lot of alts as well. Also, we're going to talk about Gary Gensler getting roasted. We're going to replay the clip of the Pokemon cards. It's just too good not to share. Also, AI is alive. It's alive right now. How soon do we have a Terminator 2 style D -Day? Give it about 30 years. 30 years, folks. 30 years. Alright. We'll go ahead and start building the bunker right now. Yes, DC's in the suspenders. I know. If you just had the green bow tie, you and McHenry. Alright. One, I'm not going to wear a bow tie. Nothing against bow ties. Just bow ties aren't for me. I'm going to wear a regular tie with the classic winds or not, or I'm going to wear the suspenders. Yeah. This used to be my old bartending get up. I'll tell you what. You wear the suspenders in the button -up shirt. I'll wear the hoodie, but I'll wear the bow tie with the hoodie, and then we'll complete the whole ensemble. Okay. Okay. So you'll be like Fetterman, and I'll be Fetterman's, like, lowest level employee. Exactly. Yes. What were you going to say, BJ? That's like Voltron, yeah. Yeah, yeah. Then we'll team up. Alright. Well, let's just get right to the market cap story here. Alright. Where are we at? Whoa. Did you see that pump right there? Yesterday, we were up around 0 .4%. Today, we are up 2 .3 % for the crypto market cap. We had passed 1 .1 trillion. 24 -hour volume for the first time in a long time is above $50 billion. We're coming in at $52 billion. Bitcoin dominance, Tim's looking a little happy here. It was 47 .1 for a few days. It is now up to 47 .3. Gas, surprisingly low, only 20 Gwei, but it's actually about double of what it was yesterday, but still pretty low. I was surprised to see that. Alright, let's look at the pricing here. We have Bitcoin up 2 .1%. It is now coming in at 26 ,858 bucks. We have Ethereum past 1600, now 1638. It is up 2 .5%. BNB up 1%. XRP up 0 .5%. And we have Cardano up 1 .6%. Solana. Solana is pumping, folks. We have it up 2 .6. And TonCoin erasing about a third of the losses of the past week. It is up 2 .7%. But I'm ready to look at some of these top gainers. Ooh, look at Bitcoin Cash as well. Have you ever thought about trading Bitcoin SV or Bitcoin Cash? Because they do have pretty big moves. Yeah, no, I mean, they definitely are probably better for trading, especially if you want to stay away from leverage, but you still want to be able to utilize the moves of Bitcoin. But yeah, I haven't ever done it. Don't think I will. Okay. Alright. Well, let's look at the top gainers. Let's look at the top losers here. Wow. We have Compound. It is skyrocketing, folks. And Compound has shot back into the top 100. I have RollBit up 12 % just for today. I have a little bit of exposure to RollBit and a little bit of exposure to Apecoin. And I have a couple comic book issues of Thor, but I don't know if that will affect my pricing there. But it is up 10 .8 % and Apecoin up 7 .4%. Bitcoin Cash coming in as the top five gainer here, followed by Lido, DAL, then Aave, GMX, Maker, Arbitrum, Stacks. And then, hey, look, a little Chainlink way down at the bottom. Do you have any of these alts? You're not much of an alt guy, right? No, I mean, I have alts, but I don't go that deep. The moment I have about eight of them, Aave is one that is close to being on the list of maybe I'll come into it. You know what? You don't want to get into, though. I've been watching a lot of maybe... I think he's going to come on the show in the future. Shout out to Crypto Archie. Archie's been going really deep in some degens that are sitting around like a $4 million market cap, and their chances of 100Xing are greater than others. I do think I'm going to start looking into a real good degen portfolio. It's probably not going to take up more than... 10 % is probably being generous in my entire portfolio, but I like where I am. I'm definitely very top -heavy when it comes to crypto. I'm more conservative with my investments, but I'm going to take a little bit of risk this market. All right, BG says, BCH is my secret crush. My dirty girl, he calls it. Where's the one person? A million dollar vision. We're going to give you a million dollar vision. Hopefully, you can stick around and just be part of that positive message. I believe you will. I'm believing in you. All right, well, speaking of believing, I'm believing today we'll not have any of these these coins in the biggest losers of the top 100 cryptocurrencies here. I'm manifesting it. It's failed in the past, but today I'm feeling good. Let's go ahead and look. What do we have? We have Casper. All right, I'm not pale as it goes just yet. Casper is down only 1 .2, then followed by tethered gold. So this is a peg to gold price here, then gate, then another gold. We have another gold coin essentially losing here, then injective, and then stable coins. Wow, I escaped it today. I escaped it today, but gold's on the way down and I have exposure to gold. So does that count? Any day that stable coins are in your top losers, it's a good day for crypto. All right, can we, before we jump over to the top story here, can we look at some gold pricing and silver pricing here? I want to look at gold on Kitco, and if you want to look at silver, maybe we could check out some prices. I like Kitco, K -I -T -C -O. Here we have gold pulling up. Gold is down $14 for the day, so not a whole lot there when the price is coming in at $18 .61. How soon until ETH passes an ounce of gold? One ETH almost equals one ounce of gold. Costco starting to sell gold. I looked into it. They sell out usually within hours whenever they limit two per customer, but they sell one ounce nuggets right around spot price. All right, what do we have for silver? I don't know if this is the right one or not. I looked it up. This says CFDs on silver. Oh, you're a trading view guy. We like trading view. Shout out to Marcus Seifer. Price slightly down, but it's definitely got a consolidation kind of pattern going on here. Yes, we're still kind of moving, setting some higher lows, but we kind of flat out here. After kind of getting kind of in this region, we've flattened out with these lows. The resistance is getting lower, but I'm going to go ahead and say, Deezy, I think that this is a pattern. Watch what happens to support. We're back down at support, but this is a pattern I would almost lean more towards a move to the upside. Let me look at oscillators on this. Yeah, I'm feeling like that's bullish. I'm feeling like that's bullish. Plus, silver has underperformed relative to gold in the past 10, 20 years. I'm feeling pretty good about it right now. Yeah, no, the charts on the daily chart look more bullish than bearish, I would say. It's kind of sitting somewhat in the middle, but more bullish than bearish. All right, and we have Danny Boy saying, look at 100 coin. Maybe, maybe. We'll see. I don't know. Maybe we'll get some time here. All right, well, let's get into the top story here. ETH, futures, ETFs. What is it going to mean? I also got some short form content. Guys, we have an article talking about these Bloomberg analysts. I'm just going to do the deep dive as well, so let's read paragraph or two, and then we'll just see what exactly they're talking about. Let's go to the source material. Let's go to the source code of the simulation here. Bloomberg analyst shares information leaked from the inside that SEC on Ethereum futures ETF. They gave the good news date, folks. We're talking about Eric Balchunas. He's the senior ETF analyst. We're not talking about the janitor there. We're not talking about, you know, the guy that makes a tweet every now then. We're talking about their senior ETF analyst. And he said in a statement, he has inside on info when the SEC will approve the ETH futures ETF. Now, we know there's inside information. Who's going to have better inside info than Bloomberg senior ETF analyst? I'm feeling pretty good about this guy's sources. Now, you got to be careful. Never trust anonymous sources. But if I'm going to trust one, I might end up having to trust this one. All right, let's see what exactly were they talking about? It all started. Let's James Safart here. Nothing yet, but watching for filings to indicate Ethereum futures are indeed being accelerated for launch next week. All right, so what was he talking about here? Here's a repost from Eric. So Ether future ETFs could be trading as early as Tuesday, folks, as the SEC looks to speed things up and in order to get it done before the looming shutdown, just like they sped up delays on spot Bitcoin ETFs. If so, issuers likely in mad scramble as we seek to update the doc. So we have the government shutdown to thank for this actually getting sped up because we covered it I think two days ago. We looked at when the government shutdown happens, what happens through the individual agencies. If you weren't here, guys, SEC will reduce 90 % of its workforce, CFTC along the same line. So 10 poise, there's only going to be one showing up in that office. That's going to be a very lonely office. So what they're trying to do, they're trying to clear all the paperwork off the desks before it's just that one guy alone. I feel bad for that guy. Who is that guy? Shoot us a message here. All right, well, let's go back to X here. So he was quote tweeting this tweet from 14 hours ago. Well, let's, uh, let's see looking like SEC is going to let a bunch of ETH futures ETFs go next week, potentially. And then he was quoting this tweet. So let's look at that tweet. And then that was the one earlier hearing they might update so they can go on effective on Monday and trade on Tuesday. They've asked filers to update their docs by fry, uh, Friday PM. Uh, I'm guessing that's the end of day Friday. So they have till tomorrow, 5 PM Eastern standard time, get your paperwork done. If you get your spot futures, I'm sorry, your futures ETF paperwork filed, you might be able to trade it on a Tuesday. We're going to go ahead and get that in submitted on a Monday. So this guys, this could be very, very big. Now we have to wait till Monday, you know, nothing set in stone here, but however, according to the analyst, they will approve, uh, of the applications that candidates who do update it by Friday afternoon, and they will begin trading on Tuesday. Uh, how speaker McCarthy rejected the stopgap funding bill advancing in the Senate on Wednesday, leaving us just four days from the fourth partial shutdown of the U S government in the past decade. It is thought that a closure event would deeply affect the sec. It is rumored that the spot ETF applications were postponed early for this reason. So chat, where are you coming in? Are we going to shut down? I didn't realize we had done it four times in the past 10 years. I would have maybe said two in the past 15. That makes me think guys, I'm, I'm starting to lean towards, you know, if you asked me three days ago, I'm under 50%. I'm leaning towards 50%. I might even exceed 50 % by tomorrow. Where were you guys coming in on the odds of a government shutdown? Yeah, I think I'm a little low. I think I'd say maybe 35, 40 % it shuts down. I think they're going to have to do with both sides, but it would not behoove Biden to have that shutdown happen. There's a lot of reasons why they'd want to keep it open. Of course, there's a lot of Republicans in Congress, they're kind of pushing for it. They probably like it. They want it. I think they come to some sort of deal. They don't do it. Guys, should we just break down the alpha for you? You know, a lot of part, what makes this live show exciting is we can do things like BJ, while you go, could you look up October 19, 2021 daily candles on Bitcoin, October 19, 2021? Well, I'm going to be the idiot in the room as usual. So if we removed the debt ceiling and put it on pause till 2025, why would we even have a shutdown? Because it wasn't the entire shutdown when we would hit the debt ceiling. So that's not relevant for another 18 months. Yeah, that is a very good point on the debt ceiling. I think that that's a great question. So maybe that debt ceiling isn't as final as they made it appear because I was being told, oh, once this debt ceiling is raised, we don't have anything to worry about. And then two weeks later, we all of a sudden have something to worry about. So now we need to think about the next time they give us a debt ceiling raise. What the f are you actually doing here? Is it actually nothing? These game devs really need to figure out how they're building their ecosystem, because these rules just don't make sense anymore. They don't make, yeah, yeah. There's a lot of bugs in the code here. All right, we have the daily candles. See the date again? October 19th, 2021. If we just look at about a 30 -day period, maybe 10 days before to 10, 20 days after. Yep. So this is getting close to the top, but it was the, there's the, we ended up beating it out. But October 19th is right here. So it's this candle. We have one more day. We topped out on the 20th. Hover over the 19th. Right there. That is the day we had a Bitcoin futures ETF here. Move more to the right side. Let's, let's get a little bit in. That's the top right here. Let's stretch that Y axis. Let's stretch it out. All right, here we go. Go back to the 19th. Yep. The 19th, right? Let me go over here. 19th is right here. So in the lead up, it pumped, it pumped, but guys, that was a buy the rumor, sell the news. We had one more day. All right. They probably didn't want, you know, Fox Business News and MSNBC to be like, oh yeah, it got approved yesterday. Look at the price. So they gave us another 24 hours of pump. We've got the pump of metal pumping. Then, you know, a new cycle, you're probably not going to want to talk about it 36 hours later, 48 hours. So we got that pump. We got a nice strong pump for 24 hours. And then it went down folks. And then it went down. We went from, I believe that was about 55K, right? No, no, I'm sorry. 65K. 64, 64 .3. And then we dropped down to what about a week later? We got dropped down about 57 .8. All right. So we went from 63, 64, all the way back down to 57. And then we set in a new all time high. What was the amount of days from that low? What's the date? If you just hover, it gives you the date, right? On the bottom, it gives you the date. So date October 28th, it peaked November 10th. All right. So 13 days later. So a week later, it put in a local low. And then two weeks later, new all time high. Will the spot or will the futures ETH ETF play out in a similar way? I don't think we're, obviously we're not going to go to 4 ,500. We're not sending in a new all time high. But what I'm thinking is we might have a similar chart pattern. You're the Bitcoin ETF. In reality, this is only a period. That means we might have. All right. So that's the date. That's we're five days away from Tuesday, right? Friday, Saturday, Sunday, Monday, Tuesday. Go back five days from that, from the 19th. So go to the 14th, October 14th. 14th is right here. Boom. Nice big pump. It pumped for five days. Buy the room or sell the news. And then it dropped. And so maybe we're going to have a really good next four days. Maybe. You know, maybe I would say that that's a little bit premature. I think we have to look at a lot of different things going on. Obviously, we're getting close to the part where the market was going to top out and go to the downside. I think there, if anything, the case to be made here, even though there was some pump in that happens here, I would only make the case that this is proof ETFs can't save you from the bear market starting. I think there's I think it's a mixed bag. I think it's a little bit too irresponsible to try to say, well, back in October 2021, this happened. Well, there was a lot of things with timing and a lot of other different things. I think let's watch ETF. It will be bullish long term. But remember, futures ETFs allow both longing and shorting. So volatility is more what I'm predicting, not necessarily a firm. Let me play devil's advocate. That was what a lot of smart people thought was going to be the top or near the top. So if you have some, I have to hold this instrument for six months, and it's October 2021, you have one choice. You open in a long in October 21, you open in a short in October 21. I feel like a lot of smart money is choosing short. Well, let's go to today. We're almost half a year from the having. You have a choice. Are you going to open a long today to cash in in six months? Are you going to open a short today to cash in in six months? I feel like then many more people are going to choose short relative to today. You know what, let's actually that takes us into our next story. Let's talk about the big investors. Will they choose Bitcoin? Will they choose Ethereum? Will they choose, you know, futures or will they wait for spot? Here's what this Fidelity executive has to say. Ethereum investment thesis could be easier for institutions to grasp than this big, then bitcoins. And here is why. This was with the interview with a bankless YouTube channel. I do like bankless Fidelity's director of research, Chris Cooper, I think says the firm's Ethereum investment thesis could be an easier concept for blue chips to understand. With traditional, it's probably more easily go with them something like ether, then show them things where they grasp much quicker than investment thesis for Bitcoin. The investment thesis for Bitcoin, according to Cooper, is to truly understand it, you got to first to dabble into politics, got no little philosophy, got to know some game theory, got to know some economics, got to know some other concepts, you got to know the Byzantine generals problem, you got to know what the white paper is, you got to hate the NSA and the surveillance state. It's a lot, right? It is a lot. I remember that feeling, you know, half a decade ago, maybe more. Well, you know, I learned about Bitcoin, I didn't really get into it to about half a decade ago. I remember watching Andreas Antonopoulos clips on YouTube. And I just, I'm just alone in my living room with, you know, with, you know, maybe Mary J was there, but you know, I'm just alone. I'm watching this and my mind's getting blown here. And I'm just like, my God, I'm just so into what this guy is putting down. And then you go to your friend, and you try to, you're full of zeal. You feel like a religious apostle. And you're like, oh, my God, have you heard this thing called Bitcoin and what it's doing? And then you just get a blank stare back. Yeah. It's like, oh, yeah, I ate the orange pill, didn't I? Yeah. It's taken me back to these feelings here. All right. So yeah, it's a lot. Basically, what I'm saying, it's a lot to wrap your head around Bitcoin, folks. That's all I'm saying. I had the my first exposure to Bitcoin whatsoever was back in 2013. And I was the opposite side of that. What you just said, the staring face. There is this kid I met. He was very passionate about Bitcoin, tried to convince me it was the one world currency that Revelation talks about. He also was a pot farmer. So I looked at him and I said, OK, buddy, good story. Now, it turns out I should have gotten in when he told me to. He he was right. I should have gotten into Bitcoin. But I do hold to when you hear a lunatic who is growing pot for a living tell you that this currency is what Revelation talks about. You got it. You got to at least question it a little bit. I understand people still being stone faced at this point. Yeah. My first two exposure was 4chan and I was like, oh, anything they suggest is a scam, is a honeypot. And they are trying to hack me. And so that honestly, like in a weird way, learning I learned about it from too shady of a source. I was like, oh, yeah, I'm going to stay away from that one. The second exposure was my buddy buying ecstasy pills of Silk Road. And I'm like, again, another thing I want to stay away from. No, man, I'm good. I'm good. And then Silk Road happened. And also he lost his Bitcoin on a hard drive. So I was just like, yeah, I don't know about this, man. I don't know about this. And then eventually, you know, the hook got me there. All right. Well, you know, that's what we're saying about Bitcoin to truly understand it. It is a whole lot, you know, but imagine that you can get in front of them and just say, look, talking about Ethereum, here's the metrics, here's the cash flow, you put in your inputs, and they're looking at it like another financial instrument. And they're like, oh, yeah, that makes sense to me, you can have these scenario analyses where you could get your head around the probabilities. And then that way, people can size their position accordingly. That's how an institutional investor thinks. That's how a good investor thinks. They think around probability scenario analysis. And in fact, they are so strongly about that they capitalize the eye there. That's how institutional investor thinks. They really, they think about the probability scenarios there. So yeah, I think that's a pretty good, pretty good point there.
The Bill Simmons Podcast
A highlight from A Dame Trade Deep Dive With Ben Thompson, Plus Seth Meyers and Million-Dollar Picks
"Coming up, Dame gets traded. Million dollar pick Seth Meyers, it's all next. It's the Bill Simmons Podcast presented by FanDuel. Get in on the football action right from the opening kickoff with America's number one sports book. The app is safe, secure, easy to use. FanDuel always has exclusive offers. When you win, you'll get paid instantly. FanDuel has lots of ways to play, like the spread, money line, over -unders, team totals, player props, so much more. Jump into the action at any time during the game with live betting. Combine multiple bets from the same game in a same game parlay. Download the FanDuel sports book app today. Make every moment more of this football season. The Ringer is committed to responsible gaming. Please visit TheRinger .com slash RG to learn more about the resources and help lines available and listen to the end of this episode for additional details. You must be 21 plus and present in select states. Gambling problem, call 1 -800 -GAMBLER or visit TheRinger .com slash RG. This episode is brought to you by Uber Eats. I just use this. Here's something every football fan should know. You can get everything you need for game day delivered with Uber Eats. Well, almost, almost anything because you can't get the dream flex for your fantasy team delivered with Uber Eats. But Tex -Mex, yeah, great pass protection, can't get it. Great pizza selection, oh yeah. While they can't help on the field, you can get pretty much everything else you need to watch the game delivered with Uber Eats. So this season, get anything, almost, almost anything for game day by ordering on the Uber Eats app. Uber Eats, official on -demand delivery partner of the NFL. Order now. I'll call in select markets and 21 plus to order. Product availability may vary by region. See app for details. We're also brought to you by The Ringer Podcast Network where I put up a new rewatchables on Monday night. We did the big chill. It was very, very exciting. I have Kyle Brandt coming on Monday's podcast. I'm just gonna tell you the movie now because it is gonna be the best moment of your weekend if you spent two hours watching this classic. We're doing Toy Soldiers. It really brings everything possible to the table. So if you wanna watch it ahead of time, there it is. That podcast is going up Monday night. If you wanna hear stuff about the debate, we have Tara Paul and Mary's podcast, Somebody's Gotta Win. That reacted to it as well as the press box with Brian Curtis and David Shoemaker. So there you go. Our debate coverage has been on point. Also, higher learning. Van and Rachel had Larry Elder on this weekend. It made a lot of noise, man. That podcast is great. I hope you check that out as well. Hope you're checking out theringer .com. And on this podcast, gonna talk about the dame trade at the top. We're gonna bring in Ben Thompson from the Techery newsletter, which he's been on this podcast I think four weeks ago. And he's a huge Bucks fan. He's gonna give the Bucks fan side of things. We're gonna do million dollar picks. And then old friend Seth Meyers talking about a whole bunch of stuff. So really good podcast. It's all next. First, our friends from Pro Jam. What's up? All right, I'm taping this on Thursday afternoon. Normally when there's a big MBA trade, I always do the emergency trade reaction right after the podcast. But we just put up a podcast on Tuesday. So I decided to play it a little differently this time. I wanted a little distance, I wanted to listen to stuff, read stuff, and try to form some big picture opinions coming out of this. So I have four smaller ones, then one big one. First one, I thought Portland did an incredible job with this trade. I really liked this trade, especially everyone was trying to bully them in June and July about, oh, you got to take Miami's offer. You just got to. It's where he wants to go. It's the only offer you're going to get. And guess what? They waited. They played it perfectly. They stared Miami down, and they got a much better deal. First of all, they get the Drew Holiday piece that they can flip into a bunch out of their stuff, which we'll talk about in one second. I love the DeAndre Ayton gamble. As you know, on this podcast, I am a big DeAndre Ayton guy. Not in the sense of I'm the biggest fan of his in the world, but I'm a fan of the asset. I just think I love the valued assets, no matter what it is. Whatever market we're talking about, DeAndre Ayton, 18 and 10 for his career, 60 % field goals percentage, 25 years old. He's played in 45 playoff games. He played four rounds in the 2021 finals. Last year, he got his ass kicked by Jokic. Oh, sorry. Like, that never happens. And Phoenix just sold on him, which I can't wait to talk about. But just from a Portland standpoint, they not only get Ayton in whatever they get for holiday, they get the 29 first, they get the two swaps, and they dump Nurkic. Nurkic hasn't had a healthy start to finish all the way through the playoffs here since 2018, which I'm positive was a long time ago. He's basically 12 and 8. He's, you know, a 50 % shooter. I made a list of the top 30 centers. I encourage you to do this at home, because what's more fun than making lists of NBA centers? I can't imagine anything. I made a list of who I thought were the best assets of the center position for talent, contract, everything. He was 29th on my list. The only person I had ahead of him who's technically a starter, unless you start talking about the Detroit or Charlotte guys, was Zubats on the Clippers. I thought he was the 29th best center asset in the league. And Phoenix, you know, just quickly to go to them, they're trying to win this year. They got worse. They turned Ayton's money into Nurkic and Grayson Allen and Nasir Little. Grayson Allen, we already know with him, he can't play in playoff series. We saw him 22. We saw it last year. I heard and read in some places like that, I got two rotation players. Did they? Is Nurkic a playoff rotation player? Is Grayson Allen a playoff rotation player? Because I'm positive he's not. So for the same money that they were spending on Ayton, they got three guys that I don't think are going to help them. In 25, the money comes down a little bit to 23 million just for Nurkic and Little, which is 7 million less than Ayton. And then in 26, that money goes up to 25 .5. But I don't understand what Phoenix was doing. Why not wait to see if Ayton clicks with Vogel? Vogel has such a good history with centers. He rejuvenated Dwight Howard on the 2020 Lakers. He basically created Roy Hibbert's career in 2013 with the defense verticality thing. I thought he was going to do a good job with Ayton. I'm stunned that they gave up on him. I'm almost waiting for one of those, now they tell us stories when, you know, that's where Brian Curtis calls them, where like a week after something happens, there's this kind of notebook dump where it's like, here's seven terrible DeAndre Ayton stories. So maybe that'll happen. But for Phoenix just to be like, cool, we locked this down, man. We got Nurkic. You're trying to win the title. You have KD and Booker and Beal. And like, what are you guys doing? Anyway, from Portland's standpoint, I love the Ayton thing. I love that they didn't get bullied. And I know they're going to turn Drew Holliday into something. So this to me was at least an A minus for them, for where they were two months ago, where Dave's like, I want to go to Miami. That's it. And if you don't trade me there, that's kind of fucked up. And they made this work as it got reported that, uh, I think in the athletic, that he expanded his list to Brooklyn and to Milwaukee in the last two weeks. And that's what Portland was waiting on. You know, they were banking on the fact that he's a competitive dude. He's one of the best 75 pairs ever. He wanted a situation settled. So, you know, you wait, you wait, you wait, they expand the list and then you go. Uh, there's a Drew Holliday piece to this. That's awesome. He becomes a contender prize. I wouldn't call this a Drew Holliday sweepstakes. I reserved sweepstakes for the superstars, but it's a mini sweepstakes. This is somebody that could have a huge impact on the playoff race. You know, not only the usual suspects, everybody's talking about Boston, ironically, Miami is a really good fit for him. And in some ways, um, I'm a little more scared of them with Miami than Dame in some ways, especially at a much cheaper contract with giving up less and keeping some of their assets. Philly, if they could pull it off, they have to be in there in Golden State, Minnesota. I think I have to mention Sacramento, I think is a team that if they could figure out how to get Drew without giving up their core, which is basically Keegan Murray and Sabonis and Fox, like that's, you know, could Davion Mitchell be in that trade with some, with a salary and some picks, who knows. The team that I love for Drew Holliday is OKC. I have OKC, you know, I started doing my MBA research for the over -under spot and I haven't landed on a number for them yet, but to me, they feel like a high forties team with Chet and with the growth of their young guys. And if you just like, let's say they traded Lou Dort and a bunch of their picks, maybe two firsts and two of their lesser picks or three firsts and a second, whatever it is. And they just say, fuck it. And they get Drew and you put him with Giddy and SGA and Jalen fucking awesome Williams and Chet Holmgren and all these other dudes they have, that might be a top three team in the West. I mean, that, that's starting to give me some early 2010s OKC vibes. So where he goes is going to be important. I just feel like there was so much Drew Holliday slander the last couple of days. You know, he's one of my favorite players. Even Haralabob, who was the chairman of the board of the Drew Holliday fan club for years and would have the benefit dinners there and, you know, just did a lot of yeoman's work on that front. And even he was like, yeah, yeah, Dame's better than Drew. That trade makes sense for Milwaukee. I was hurt, Haralabob. I was 100 % hurt by that. But you know, Drew got his ass kicked by Jimmy Butler in the playoffs last year. I get it. It happens. Jimmy was unbelievable. I feel like he would have kicked anybody's ass. By the way, why is Drew Holliday guarding Jimmy Butler? That speaks more to some of the issues with Milwaukee. He was never supposed to be a point guard and a creator. I think he was always better as an off -the -ball guy. We saw that with Rondo and New Orleans and just in general. I want to see him with a point guard. I want to see him just being unleashed, not having the ball a lot, just worrying about hitting threes, being an occasional, you know, make -shit -happen guy and being like the third or fourth best guy on a team without having the offensive responsibility to have. All their half court issues got blamed on him for the last couple of years. And I get it. They weren't like an awesome half -court team, even the other one in the finals, but I really value that dude. I had him, even I did the trade value list in August and I had him 37th and I had Dame 23rd. I think he's one of the best 30 players in the league still. He's 33 years old, which, you know, I'm going to talk in a second about when guards hit their mid -30s, but just in general, I think he's a real asset. If he goes to a team like the Celtics and they can keep Derek White and Tatum and Brown in the center, it's like, look out, man. So little mini sweepstakes, rarely do we get the trade, but then we still get another asset to talk about. Thank you for everyone involved in the trade. And then the fourth small point is just that, you know, not rocket science, Milwaukee bought some Giannis time here. They have one of the best 20 players of all time. They were staring down the barrel of a situation that was not good. I was talking about it on this podcast in late June and early July. I thought he was going to put them on the clock. I thought Mark Lasry selling his stake was a really bad sign for all of this because that dude is smart. As I laid out in June, that guy is really smart. And if he's feeling like, you know what, it's time for me to sell my buck stock, that makes me nervous. And then all the stuff that Giannis said and did, which I thought he did really fairly and really smartly. And I think that dude's about titles and that's it. And I know we say that about players, but I think in his case, I don't think he cares about, you know, what's my legacy, how do I compare against Dirk DeWhisky, any of that stuff. I just think he wants more rings. I mean, think about the guys who have won two rings out of the best 35 guys on my list of my pyramid. Those are all guys in my top 35 that won multiple wings. You go to the one -ring side, Jerry West, Oscar, Moses, Dirk, Jokic, Giannis, Pettit, Garnett, Kawhi, Rick Barry. That's the list he's on now. I certainly don't think he's looking at that list going, I got to get away from these guys, but it's a slightly different list. I think when you win multiple rings in multiple situations, it elevates you in a certain way. I think he fundamentally understands that at least a little bit. I want to be the best player since LeBron James. I think that's a thing that he wants. How am I going to do that? I need more rings. I need more finals trips. He knew from last year and maybe even the Boston series that they just weren't good enough. Whether this trade is going to be the thing that propels them, we'll find out, but he's been in the league 10 years, two MVPs, five first teams, two second teams, and now we have this little two -year window. Kawhi and the Raptors was a one -year window. This is a two -year window, I feel like. With Giannis, he's got two years left in his deals. So does Lopez. Middleton has two in a player option. Dame's got two, and then this crazy $120 million player option extension thingy that he has that just keeps going and going. It's probably two years. There's a world where this could go terribly this season, at least for what the expectations are, and then maybe it becomes Kawhi, Raptors. Maybe Giannis is like, you know what? That didn't work. Trade me. And the Bucks, who have no picks left and no future, they look at it next summer, and they go, all right. We tried it. Giannis, what can we get for you? Dame, what can we get? And they just do a reboot, rehaul. Remember, they won in 2021, which just takes so much pressure out of this. It's so much different than the Clippers situation, where they went all in on Kawhi and Paul George. They give up all those picks and SGA, and they've gotten nothing out of it. They haven't even made the finals. So it's got to happen. I think they at least probably have to make the finals. If they get bounced in round two, do I think Giannis is going to stay because they made this Dame -Mower trade? Probably not. So that leads to the big question, is how good of a trade was this? So there's a big picture angle on Dame, and it's going to sound negative, but I really don't want it to sound negative because I think Dame, I voted for him for NBA Top 75. I think he's been one of the best guards in the last 15 years. I think there's a ton of great things you can say, and there's a chance that he goes to Milwaukee, and this thing is fucking awesome. I know any Celtic fan I've talked to, including Isaiah, who's helping produce this podcast today, the Giannis -Dame pick and roll is just terrifying. Other than Jokic and Murray, it's going to be the single most unstoppable offensive play in the league. It is. We are conceding that point. The spot Dame is in right now, big picture -wise, it's weird. He's a superstar, but he's not, and we've seen guys like this before. I judge superstars by, do you have the resume statistically, and is your team succeeding consistently at a certain level? You can't totally say that about Dame. He's never been on a 55 -win team. He's missed the playoffs completely four times in 11 years. He said three first -round exits. He made the Final Four once in 2019, which was really lucky because Golden State and Houston were the two best teams, and then they got smoked. He's never been on a true contender ever. Instinctively, you go, well, that's not his fault. Who's he played with? Well, he played with LaMarcus Aldridge and CJ McCollum and a couple other guys, but not really anybody. The reason I'm putting this up is there's a success element that he has not had yet that for somebody with his resume is actually kind of unusual. I went and I looked up how many guards in the history of the league averaged 22 points a game for their career and played at least 700 games. I thought the list would be like 20. I didn't know. I didn't know what I was walking into. Only I think 75 guys have averaged 22 a game. So I went and I looked up the list, and it was 10 guys, 700 games, 22 a game for their career. There were some guys who came close like David Thompson, who I think is one of the best guards I've seen in the last 45 years, but had a short career and had some drug issues. He didn't make it. He didn't play enough games. Pete Maravich, 24 .2 points a game, but he didn't play enough games. Kyrie hasn't played enough games yet. Bradley Beale is five games away. I'm actually kind of glad the cutoff's at 700 so we don't have to talk about him. And then Mitchell and Trey Young aren't there yet. There's only 10 guys that made it, and the 10 guys are all fucking awesome. And again, I mentioned this in the context of Dame, who we think he is versus the success he's had. So the 10 guys, Michael Jordan, 30 .1, Jerry West, 27 .1, Allen Averson, 26 .7, George Gervin, 26 .2, Oscar Robertson, 25 .7, Kobe, 25 .0, Harden, 24 .7, Curry, 24 .6, Wade, 22, barely made it, and Russ, 22 .4, and then Dame is at 25 again. All right, what does he not have that those other guys have? Well, MJ, don't need to talk about him. Don't need to talk about Jerry West, who's the freaking logo. Allen Averson, pretty good comparison, right? Big stats, really memorable player, but not a ton of success. Here's the difference. Averson made the finals once. He won an MVP. Dame has done neither of those things. George Gervin was the best scoring guard of the 70s. He made two final fours. He had some bad luck. He really, in 79, really should have came close. And some of it's on him, right? He could have come through. Bobby Dandridge is the one that ended up coming through for the Bullets. They lose. But two final fours, he had four top five MVP finishes, five first teams, four second teams. He was just unassailably the best guard in the league until MJ. Oscar Robertson, don't need to go through him, but he won a ring and an MVP. Kobe, five rings and an MVP. Eleven first teams for Kobe, by the way. James Harden, three final fours, an MVP, six top five MVP finishes, six first team MBAs. And even though Harden has never made the finals as the best guy, he made it with OKC as the sixth man, you could build a contender around Harden. We saw it. We haven't really seen it with Dame. I think that's a fair thing to bring up. Curry, four rings, two MVPs, you know, the Curry thing. Dwayne Wade, three rings, two top five MVPs, two first teams, three second teams. He's more in the Dame waters a little bit, but he had the 2006 finals and he was the second best guy with LeBron on those heat teams. And then Westbrook, who you would say, well, Dame had a better career than Westbrook. Did he? Westbrook made the finals in 2012. He was second best guy on that team. Almost made the finals in 2016. He won an MVP. He had two first teams and five second teams. It's at least like a real argument. And I think when you look at Dame, he only had that one 2019 round three, got bounced. He's only had one top five MVP finish. He's only had one first team MBA and four second team MBAs. Really, really good top 75 career. But the piece that's missing is, have you been on a really good team? Have you made a real run at it? Which is why, you know, I think this Milwaukee trade is so much fun. This is his real chance. I get nervous about a couple things with this trade. One is that, you know, if you look at the 33 and older guards who average 22 points a game in a season. Jordan did it twice. Curry did it twice. Still going. Kobe did it three times. Jerry West twice. Sam Jones once. Hal Greer once. That's the entire list. Now the NBA is different. We have more three -pointers now. It's easier to score. Scoring is the easiest it's ever been. Guys can play at a longer age. So I'm not ruling out Dane being good for the next three years. But just pointing out, history is saying, be a little nervous. In general with guards, like Chris Paul, we saw from age 35 to 36 to 37, like it just dropped. But that's two years older than Dane. Maybe it's fine. I just worry about guards. We have not a lot of instances with guards in their mid -30s of them either peaking as players or being able to sustain whatever success they had during their prime. It always starts to go down with really no exceptions, except for Steph Curry. He's the only non -exception. So if your case is Dane's as good as Steph Curry, or Dane can be as potent as Steph Curry on a winning team, like, you know, Steph Curry is better than Dane, but I'm not going to argue that he couldn't do a lot of the stuff that Curry did in Golden State. The bigger issue for me, the age I'm definitely worried about. Dane has not been healthy the last couple of years, and we have not seen him play nine straight months at playoff basketball with a big bullseye on his back. Everybody coming after you, you're the best team. We haven't seen him do that ever, much less than the last couple of seasons. So can he stay up? Can he stay healthy? That's one thing. The defense with Dane just got kind of swept under the rug the last couple days, and I don't really understand it because there's five categories of defensive player I feel like. There's excellent, there's good, there's average, there's not so good, and then there's bad. And I think Dane's a bad defender. I think the stats back it up. Like, his defensive rating last year was 245 out of the guards. He's the 245th guard for defensive rating. You know, 117 .4 individual defensive rating is 483 overall. Portland's team's always defensively, it was the Achilles heel for them. Partly because of Dane, because he couldn't guard anybody. He's too small. And, you know, think about what we saw from the playoffs the last couple years. I think about the 2020 bubble Celtics playoffs, not infrequently, because I think that team had a chance to potentially win a title. What happened? Everyone hunted Kemba Walker. It was hunting season. It's like, where is he? Got to get a switch. Got to get Kemba Walker guarding somebody who's bigger, or got to beat him off the dribble, and it just became a hunt session with him. And basically, he got played out of the league. He's not in the league anymore. You know, we had this with Isaiah Thomas, too, in the mid -2010s. I think it's been an issue with Kyrie Irving. The Celtics certainly went at him in the playoff series with Brooklyn a couple years ago. Curry, you saw, who I think is a better defender than people give him credit for, but the And he's a much better defender than Dame is. Jordan Poole is somebody that got hunted in playoff series recently. Chris Paul, obviously, is a big one. Jalen Brunson, remember what the Heat did to him? Mitchell, when he was on Utah, this was a huge issue. And then Trae Young, obviously. My fear with Dame is he's a DH, and I think in Portland, part of the reasons he was able to put up the stats he did was because he wasn't playing defense, right? It was just, how many points can I score? My team isn't very good, and I'm just going to do my thing. He's an incredible offensive player. But how much of a trade -off is the defense, right? Well, you think, all right, well, Milwaukee, they're really good defensively. They'll be able to protect him. Here's the team. Giannis, Dame, Lopez, Portis, Middleton, Conaton, Beauchamp, Crowder. Who's guarding Trae Young on this team? Who's guarding Jason Tatum? Here's a partial list of guys that I don't think this team will be able to guard this season. Devin Booker, Tatum, Butler, Trae Young, Kyrie, Curry. Who's going to be chasing Curry around the screens? Dame lowered? Good luck. SGA, Luca, Mitchell, Murray, Edwards, Brunson, Ja, Garland, Fox, Halburn. Are they going to be able to cover Derek White? I don't know. The way this team is constructed, they are not going to have the ability to guard other guards at all, which means they're just going to have to be in a shooting match with them, right? It's going to be not much different than what's going to happen with Phoenix, where they're just literally going to have to outscore the other team. I've just watched too much playoff basketball over the last couple years, where it's like, if you have that weak link on defense, and you're playing a team that's smart enough, they're going to go after that weak link. Like, think about them against the Lakers, right? The Lakers figure their crunch time. Let's say they make the finals. It's Milwaukee and the Lakers, and Lakers crunch time. They're going to have LeBron and Davis and Austin Reeves and, I don't know, a shooter and a point guard, whatever. All they're going to be doing is trying to find where Dame is on the court and going after him. What about when they play Boston? Boston puts out White and Brogdon and Tatum and Brown and a center, and all they're going to be doing is trying to make sure Dame is covering somebody who has the ball who's now torturing him. I think it's a real problem for them. And what's funny is they gave up Drew's defense and, you know, they, what they gave up on defense, which is significant, and they gained an offense, it might end up just being a wash and they might just be a different version of the same team where they still have a huge flaw. It's just on the other end of the court. I'm just shocked that nobody brought up the defense. I agree he's an amazing offensive player and what's cool about this trade and what I'm excited about as a basketball fan is, can he go up a level? Right? A lot of these stats he put up, especially the last couple years. They didn't mean anything. They were, he was on bad teams. Like, who cares? Ultimately, Bradley Beal scored 30 points a game on the Wizards. Who cares? I think most really good offensive players, if they're on a bad team, can get between 25 and 30 a night. Can you do it nine months in a row? Can you do it when you're getting hunted on defense all over the place? How much can Milwaukee protect him? And what does he have in the tank at age 33 with 900 plus games on the O 'Dominor already? I'm still afraid of the Bucks, but people have, like, FanDuel had them as best odds in basketball and I think most people feel like they're the favorite now. I don't feel like there's a favorite. I think you can go through every team. Boston, I could, I'm scared of Porzingis. What's going to happen with Jalen Brown out there? He has contracts. Can Peyton Pritchard, all these different things. Philly, God only knows. Miami, they're unquestionably worse. Yeah, Milwaukee is going to be really good, but depending where Holiday lands and how this all plays out, I just think it's still wide open. And the other piece, so if you're just talking Boston, Miami, Tatum kills Milwaukee. I have no idea why. Boston is kind of built to at least stay with Dame and, you know, Derek White is about as good of a person you're going to have to try to keep Dame in check, at least. And Boston's done a really good job of guarding Giannis over the years. They don't have Grant Williams this year, but I just don't think, I think there's as many ways this goes wrong as it goes right, I guess would be my final thought on this because for what they gave up, especially with that 29 unprotected and the two swaps and, you know, they are all in on this team. And you know my theory, when you go all in on a team, you better think you can win. Not positive, but it's an awesome trade. It really is. It makes the league so much more fun. Dame and Giannis together. I'm going to enjoy watching Portland. I still have my eating stock. Watching Phoenix fans slowly realize that Derkiszna isn't the answer is going to be fun and then we'll see where Drew Holliday goes. So really fun trade. We're going to talk about it a little bit more with Die Hard Bucks fan, Ben Thompson in one second. Let's take a break.
Thinking Crypto News & Interviews
A highlight from SEC GARY GENSLER DELAYS BLACKROCK BITCOIN ETF, ETH FUTURES ETF APPROVED, RIPPLE FORTRESS, PAYPAL CRYPTO PATENTS
"Welcome back to the Thinking Crypto Podcast, your home for cryptocurrency news and interviews. If you are new here, please hit that subscribe button as well as the thumbs up button and leave a comment below. If you're listening on a podcast platform such as Spotify, Apple or Google, please leave a five star rating and review. It supports the podcast and it doesn't cost you anything. Well, folks, I want to start off with big news from the SEC. They have delayed a bunch of Bitcoin spot ETF applications, and the applications includes BlackRock's, Bitwise and some others. So not denials, but delays. So corrupt scumbag regulator Gary Gensler continues his clown show. We know he has approved futures ETFs, and in fact, we got news that Valkyrie got their approval for an Ethereum futures ETF. So why is he approving these futures ETFs without hesitation? Because, folks, they can be used to manipulate the market and drive the price down, right? It allows for folks to short the market. And that's why a Bitcoin futures ETF was approved, multiple Bitcoin futures ETF were approved over the years. And yet the SEC kept denying spot ETF approvals. And we know in the Grayscale lawsuit, the three judges said the SEC was arbitrary and Bitcoin spot ETF. So we have to keep putting the pressure. Again, we have a delay here and I think we can expect more delays, right? Until Gary starts feeling the pressure and we saw members of Congress send letters to Gary asking him to approve the Bitcoin spot ETF and highlighting the Grayscale lawsuit. So I think eventually the pressure will be on him where he's going to have to do this. And in one way, in one way, this is a good thing that it's not getting approved now, because in my opinion, I believe the Fed is going to continue to raise rates till the end of the year. And they're going to pause officially in Q1 of 2024, where I believe they're going to start quantitative easing next year. So global liquidity will come back. Right now we are in a tightening cycle, rates are up, inflation is still an issue. So the markets are not really primed for a lot of capital to come in. That doesn't mean that the approval can happen now. But in my opinion, the approval news will help drive the price up and eventually as these products are fully launched by BlackRock and others, a lot of capital will start flowing through them. So in a way it's a good thing, but still on principle, it just shows Gary Gensler is a scumbag regulator. So once again, Valkyrie got their futures ETF approved by the SEC, so expect more volatility around Ethereum. Now, speaking of Bitcoin, a luxury car maker, Bugatti, and that's a very expensive luxury car maker, Bugatti cars, many of them are like a million dollars and over, officially launches Bitcoin ordinals collection. So really cool that big brands are adopting crypto in different ways, whether it be tokenization, NFTs, and much more. The issue is the Bitcoin blockchain cannot handle these things. It more adds congestion to the network, which increases time of transactions as well as costs. So it's not made for that. And I know there are folks who say, oh, you know, this is a good thing, but I don't think it's a good thing for Bitcoin. I think there are other blockchains out there that can handle these things and not have ridiculous costs and fees. So but I think overall, this is good for the market. Now Ripple CEO, Brad Garlinghouse, tweeted out the following today, a few weeks ago, we signed a letter of intent to acquire Fortress Trust. We've since made the decision not to move forward with an outright acquisition. The Ripple will remain as an investor in Fortress. The Fortress team is incredibly talented and has built products solving real customer problems. While this outcome is different from what was originally planned, we'll continue to support them and hope to work together in the future. So obviously, we don't know the details as to why they're pulling out here, but they will remain an investor. So just an update on that, folks. Now a quick word from our sponsor, and that is Uphold, which makes crypto investing easy. Uphold is a great platform that I've been using since 2018, so I can certainly vouch for this platform. They have 10 plus million users, 250 plus crypto currencies, and they're available in 150 countries. You can also trade precious metals and equities on this platform. If you'd like to learn more, please visit the link in the description. Now we have big news around Coinbase. They tweeted out today, the expansion continues. Thrilled to announce that Coinbase International Exchange has secured regulatory approval from the Bermuda Monetary Authority to enable perpetual futures for non -U .S. retail customers. You may have seen the phase two of our go -broad, go -deep strategy for international expansion. Providing greater access to go -broad products, including derivatives, is a crucial part of that strategy, all with the support of forward -looking regulators. Coinbase Advance will begin to offer perpetual futures trading in the coming weeks as access to regulated derivatives expands to more global customers. So really big win here for Coinbase, obviously it excludes U .S. users, but they're going to be able to offer futures trading and much more to many parts of the world. And if only the United States could get its act together and pass regulations and do the right things, you know, U .S. users could benefit from this. But you know, once again, we're dealing with clowns like Gary Gensler. Now PayPal patent apps signal an interest in Layer 2's NFTs. PayPal continues, folks, to just go aggressive in the crypto market. Obviously, recently they launched a stablecoin. We know back in 2021, they launched crypto trading for both PayPal and Venmo. They've been four patent applications, which were published since September 21, suggesting that PayPal is taking a close look at distributed ledger tech. So they're going all in, folks, and I don't blame them, right? You better innovate and adapt to the new disruptive technology, or you will be disrupted and be put out of business. Just ask the folks at Blockbuster what happened to them as Netflix and the internet and streaming and much more went and took their lunch. So really, really bullish. Let me give some details on these applications. The most recent application, published Thursday and originally filed in March of 2022, delves into the details of how validators or miners should be selected during the process of adding transactions to the blockchain. The document states that the company's disclosed techniques could advantageously allow steering of blockchain requests to a desired subsets of miners slash validators. Three other patent applications released on September 21 were also filed in March of 2022. One offered up supposedly new methods and systems to enable off -chain transactions through NFT marketplaces. Boy, imagine PayPal launching an NFT marketplace. Another mentions the concept of a so -called omniverse, which in this context suggests a product that deals in multiple metaverses. The third describes another conceptual online transaction processor. This processor's goal is to facilitate payments between users and merchants operating on different network layers, layer ones and layer twos in a more efficient manner. So essentially looking to build interoperability, that is going to be key. And notice users and merchants, right? So you may have users, let's say on the XRP ledger and merchants on the Polygon blockchain, how do they connect, right? And I'm just giving an example, obviously they mentioned layer one and layer twos here. So it could be like Ethereum and Polygon is a layer two scaling solution, but also there's going to have to be compatibility with different blockchains. So really great stuff here from PayPal and a sign of what's to come folks. This is a stuff that makes me very bullish. Now Circle, they're expanding USDC on the Polygon blockchain, and that's going to be launched on October 10th. So Circle continues to make smart moves here, pretty much getting USDC on all the top blockchains. And once again, there's going to be interoperability and much more. So the ecosystem continues to grow. Now folks, some of you may have seen this, the New York Post did an article saying the Winklevoss twins, Tyler and Cameron, secretly withdrew $280 million in assets before the crypto firm collapsed. This is according to sources, right? So they didn't provide any proof. Well, the folks at Gemini, they addressed this issue and gave some clarity that it's actually false. They said, we are disappointed that the New York Post has chosen to recklessly publish a completely misleading story about the Gemini earn program. Everything the post alleges in its story is the exact opposite. The $282 million that was withdrawn from the Genesis in August of 2022 was in fact earned users money. It was not Gemini's corporate funds, and it was not the personal funds of our founders, Cameron and Tyler, or their investment from Winklevoss Capital. So they clarified that, but kind of a hit piece here from the New York Post. Now folks, speaking of the Winklevoss twins, Mark Zuckerberg, and many of you know the history of Facebook with the Winklevoss twins and Mark Zuckerberg, well, Mark was interviewed on the Lex Friedman podcast, and they did it through the metaverse. People have been roasting Mark and his version of metaverse for years, they've lost billions of dollars. Look, I've even roasted him a little bit, right? Because their metaverse product was not great, but boy, have they made a huge leap. Guys, go check out the interview with Mark Zuckerberg on the Lex Friedman podcast. They did it through the metaverse using the Oculus, and the new feature is this lifelike representation of their faces and their upper body, essentially, and it is incredible, folks. It is incredible. You have to see this. And you may say, Tony, why are we talking about this? Well, folks, this metaverse set up with full immersion, right, will eventually include a lot of NFTs and blockchain and tokens. It's all part of the same technological adoption. You're going to see more tokenization, once again, everything running on the blockchain, and you're going to need the blockchain in the metaverse because it's going to be hard to plug in Web2 payment apps, right? It's going to be hard to go use PayPal in the metaverse versus using stable coins or different tokens to exchange value. So this is incredible. I'm really blown away by what Mark and the folks at Meta did here. And I'm not some big advocate of you must live in the metaverse. I believe the metaverse is going to be useful. I think with everything in life, you've got to have balance. Will I be participating in some metaverses? Yes. Will I be spending all my time in the metaverse? No. I will be out getting fresh air, touching grass, going out for walks and so forth. That is how I grew up. Obviously, we live in a digital world, but we have to balance it out. But future generations, if you're listening, some of you younger kids, somebody listening to this 10 years from now, please don't be fully immersed in the metaverse. Have a balance, spend some of your life outside of it. But folks, this is incredible. Go check it out. Finally, some more good news here. Our judge denies temporary release for Sam Bankman -Fried suggests he could face a very long sentence. That is music to my ears. I love it. This guy is a fraud, a liar, a criminal. He should go to jail along with Alex Mashinsky. And we have to make sure we do a good job of flagging these guys, man, because we don't need this kind of stuff in the crypto industry. We're trying to mature, have good infrastructure and avoid any type of corruption and criminal activity as best as possible. Obviously, it's hard to stop those things. They happen because it's part of human nature. Just look at Bernie Madoff. He was in the most regulated financial markets, yet he was scamming people out of millions, if not billions. I hope this guy goes to jail for a long time and he doesn't get off because we know his parents are connected politically and there's a whole bunch of stuff that's been happening there where money from FTX was funneled to his parents. So, you know, I hope they are all held accountable, folks, friendly reminder, my interview with Congressman Warren Davidson will be published tomorrow. So be sure to check that out. Make sure you got the subscribe button hit, hit the five star rating on the podcast platforms. And I'll talk to you all later. Bye bye.
Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
A highlight from 1415: Bitcoin Will Soon Hit $500,000 - Winklevoss Twins
"Welcome everybody to Crypto News Alerts, the number one daily Bitcoin pod. In today's show, I'll be breaking down the latest Bitcoin technical analysis as Bitcoin recaptures $27 ,000 and quoting Max Keiser, the high priest of Bitcoin, Bitcoin is the North Star guiding to the only safe haven asset in the world that protects against inflation, confiscation and censorship preach. Also in today's show, Ethereum futures ETFs can start trading as early as next week. According to top Bloomberg analysts, we'll also be discussing the SEC pushing back the deadline for spot Bitcoin ETF apps, definitely not a good look. And speaking of ETF apps, I'm also going to be sharing the five highlights of Gary Gensler's evasive testimony before Congress quoting Senator Warren Davidson. Gary Gensler's tenure at the SEC highlights two key problems. Number one, Gary Gensler's problem and number two, the SEC's structural problem. That's why I introduced the SEC Stabilization Act to fire Gary Gensler and restructure the SEC. Let's freaking go. Also in today's show, crypto analyst Michal van de Poppe predicts a very positive quarter four for 2023. I'll be sharing his targets in which he outlines. We're also going to be discussing the SEC's inaction on the spot Bitcoin ETF is a complete and utter disaster, according to the Winklevoss twins. And speaking of the Winklevoss twins, I'm also going to be sharing with you their $500 ,000 Bitcoin price prediction, which they say is coming soon. We'll also be taking a look at the overall crypto market. All this plus so much more in today's show. Yo what's good crypto fam? This is first and foremost, a video show. So if you want the full premium experience with video, visit my YouTube channel at cryptonewsalerts .net. Again that's cryptonewsalerts .net. Welcome everyone. This is pod episode number 1415. I'm your host JV. Today is September 28, 2023 and Bitcoin is finally back above 27 ,000 as we're pumping right when I hit the live button. We're currently above 27 ,100 up over 300 % today and we continue climbing. Welcome everyone in the live chat. I gracefully appreciate y 'all. Yeah, who knows? Maybe we'll hit 28 ,000 by the time today's live stream is over. Let's see. And make sure to let me know where you're tuning in from in that live chat as I'll be giving everyone a shout out towards the end of the show. And with that being shared, fam, now let's dive into today's market watch. As you can see here, every major crypto back in the green. Bitcoin above 27 G's. We got Ether up three and a half percent trading at $1 ,655 BNB, XRP, Cardano, you name it. And checking out coinmarketcap .com, we're currently sitting above $1 .07 trillion with about $26 billion in volume in the past 24 hours, Bitcoin dominance at 49 .1 % and even the Ether dominance on the rise today at 18 .5 % and checking out the top 100 crypto gainers of the past 24 hours, holy moly, compound up 20 % trading under 49 bucks, followed by Thor chain up 13 % trading at $1 .94, followed by Lido Dow up 8 % trading at $1 .59 and checking out the top 100 crypto gainers of the past week, massive gains, which we love to see, especially after a pretty bearish altcoin season to say the least. We got CompLead in the pack here as well up 20 % and Rune up 13 .4 % and RLB up 13 % and checking out the crypto greed and fear index, we're currently rated a 46 in fear yesterday at 44 last week, a 47 and last month, a 39 in fear. So there you have it, fam. How many of you are currently bullish on Bitcoin and how many of you took advantage of the recent dip? If so, let me know. It's good to see we pump in once again. So hopefully those positions are now in the green. Now let's break down today's Bitcoin technical analysis, check out the charts and why specifically the market is pumping right now. Here we go. Let's get it. Bitcoin hit new weekly highs after the September 28th Wall Street open as markets awaited fresh cues from the US Federal Reserve. And here you can see in the Bitcoin one hour Campbell chart, pretty freaking bullish to say the least. Data from Cointelegraph and TradingView showed Bitcoin price strength staging a comeback, having delivered what some referred to as a classic pump and dump 24 hours prior during the performance. Bitcoin hit a high of 26 .8, which appeared on Bitstamp as a result of 2 % daily gains before Bitcoin retraced all of its progress, then a slower grind higher than took hold with the bulls edging closer to 27 ,000, which we finally just recaptured here a few moments ago. Now GDP for quarter two grew by 1 .7 % year on year below the projected 2%, while the PCE index data for August came in in line with the expectations, quoting analyst Keith Allen, bring on the volatility. Now meanwhile, data from Binance's order book uploaded by Allen showed little by way of resistance standing in the way of the spot price under the 27 ,000 mark. So as you can see, just more bullishness for the king crypto, the macro data constituted just the prelude of the day's main event. Meanwhile, Jerome Powell, the chairman of the Federal Reserve due to the comment later on today, Powell, whose recent words failed to deliver noticeable volatility to the crypto markets was due to speak at the Fed's conversation with the chairman, a teacher town hall meeting event in Washington DC at 4 p .m. Eastern today. Now commenting on the state of play on Bitcoin markets, popular trader Dan crypto trades was a little more optimistic around the strength of the day's move compared to yesterday, September 27th, quoting him here back to yesterday's highs, but with considerably less open interests. No doubt there is longs chase in here, but it is less frothy than it was yesterday. Would still like to see longs chill out and not get to a full retrace later on. So there you have it. Let me know if you agree or disagree with the analysts. Meanwhile, quoting another analyst, right, capital Bitcoin is right back at the bull market support band cluster of moving averages, challenging to break out beyond them. Let's freaking go. Now, elsewhere in the day's analysis, he acknowledged that 29 ,000 could make a reappearance and still form a part of a broader come down for BTC. As he shares here, it's important to remember the Bitcoin could technically rally even as high as 29 ,000 to form a new lower high, which would be phase A and B. He explained alongside this chart. So there you have it. Let me know if you are currently more bullish or bearish on the King crypto and quoting the high priest of Bitcoin, Max Kaiser, Bitcoin is the North star guiding to the only safe haven asset in the world that protects against inflation confiscation and censorship preach. Now welcome to y 'all just joining us in today's podcast. As always, I appreciate everyone's daily support and means the world. And now let's discuss our next story of the day as Bitcoin continues to pump, shall we? We're going to be discussing the Ethereum futures ETFs, which can get approval. They say potentially as early as next week. So let's break this one down, shall we? Ether futures ETFs could start trading for the first time in the United States as early as next week. According to top Bloomberg analysts on September 28th, which is today, Bloomberg intelligence analyst, James Safart said in an ex post, it was looking like the sec is going to let a bunch of Ethereum futures ETFs go next week. Potentially. His comments were in response to fellow ETF analyst, Eric Balchunes, who said he was hearing that the U S SCC wanted to accelerate the launch of Ethereum future ETFs quitting him here. They want it off their plate before the shutdown, he said, adding that he's heard various filers updates on their documents by Friday afternoon so they can start trading as early as Tuesday next week. As outlined here on X. Now the U S S government's expected to shut down at 1201 a .m. Eastern on October 1st. If Congress fails to agree on or provide funding for the new fiscal year, which is expected to impact the country's financial regulators amongst federal agencies. Now neither specified their sources for the latest update on the long list of crypto ETFs in the queue. There are currently 15 ether futures ETFs from nine issuers currently awaiting approval. According to the analysts in a September 27th note, which is yesterday, companies proposing an Ethereum futures or hybrid ETF product include VanEck pro shares, grayscale volatility shares bitwise direction, as well as round Hill. The analysts gave ether future ETFs a 90 % chance of launching in October with Valkyrie's ether exposure on October 3rd, quoting them here. We expect pure Ethereum futures ETFs to start trading the following week, thanks to volatility shares actions. However, we don't expect all of them to launch. So do note that now as previously reported that ether futures ETFs may be approved in October causing the 11 % spike in ether prices and probably why the Ethereum dominance is up as it's been stagnant and down for quite some time. Ether prices are on the gain, currently just under $1 ,700 and we'll see how high we continue to pump, but do note crypto future products aren't as hotly as anticipated as their spot based alternatives. There are already been Bitcoin futures ETFs approved in the United States since 2021, which is a fact, which leads us to the million dollar question. Why have they approved a futures ETFs, but continue to deny and delay all the spot ETFs? We're going to be getting to that a little later as I share with you the highlights from Congress pressing the chairman of the SEC, Gary Gensler. It's going to get very interesting here in a little bit, but now let's dive a little deeper and discuss specifically the spot Bitcoin ETFs and what is happening and why they're being pushed back and the latest updates of where we're currently at. So here we go and welcome y 'all just tuning in. Make sure to smash that like fam. The US SEC has delayed deciding whether to approve or disapprove spot Ether ETFs. And like I said, we're going to be getting in October potentially get some approvals, but in separate notices filed September 27th, the SEC said it would designate a longer period on whether to approve or disapprove these proposed changes. The commission finds it inappropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised there within. The delay came the same day as the NASDAQ market filed the proposed rule change with the SEC for listing its mix ETH basically ETF, a combination of Ether holdings and futures contracts and also proposed rule changes with the New York Stock Exchange, ARCA for the Grayscale Ethereum Futures Trust, hashtag Bitcoin Futures ETF and the CBOE BXE exchange for the Franklin Bitcoin ETF were all filed. September 27th, that's right. If you're not familiar with Franklin Templeton, there are one and a half trillion dollar asset manager. They're also applying for an ETF. Now the SEC announced September 26th, it would designate a longer period to decide on these spot ETF applications. And as James Safart shares here, here's VanEx delay as expected. So another one, I mean, exactly what we were expecting from the SEC. Now in August, ARK investment manager, founder and CEO Kathy Wood speculated that should the SEC move forward with the spot ETF approvals, it would allow multiple listings simultaneously to avoid giving any single company an advantage over another in the market. Her remarks came before Grayscale Investments won a court battle with the SEC over its spot Bitcoin ETF app, which will likely be reviewed in which they're trying to turn their GBTC product into a spot ETF. So hopefully it happens. To date, the SEC has never approved the spot crypto ETF in the United States, but has allowed the listing of crypto linked futures ETFs and a leveraged Bitcoin futures ETF. Manipulation, fam. The next deadlines for the spot crypto ETF apps from firms, which include the largest asset manager in the world, BlackRock, Wisdom Tree, Invesco, Galaxy, Valkyrie, Bitwise and Fidelity are all scheduled for October. So we'll see how this is likely to play out considering October is now only three days away. Are we going to get some ETF approvals by then? Who knows? I think more than likely they're going to push it back again. However, Congress right now is pressing Gary Gensler to approve a spot Bitcoin ETF and ETPs immediately. So now let's break this down. If you missed Gensler, he was pressed by Congress just yesterday. And I know it's on everyone's mind. So let's break down some of the highlights from this recent hearing with Congress and the chairman of the SEC, Gary Gensler. Let's break it down, shall we? Here we go. Blame for kneecapping capital markets in the U .S. and slam for dodging questions around Bitcoin and Pokemon cards. SEC chair Gensler appears to have had one hell of a grilling from Congress this week. September 27th, the U .S. SEC chief again found himself in front of lawmakers in a scheduled hearing to discuss his agency's oversight of the markets. Here are some of the highlights. First and foremost, you are the Tonya Harding of security regulations. We should create a Gary Gensler diss track, right? One of the more colorful analogies came from U .S. Representative Andy Barr, who accused Gensler of kneecapping the U .S. capital markets with regulatory red tape. Barr referred to the old testimony from Gensler where Gensler argued that the U .S. is the largest, most sophisticated and innovative capital market in the world and that shouldn't have been taken for granted as even gold medalists must keep training. With all due respect, Mr. Chairman, if the U .S. capital markets are gold medalists, you are the Tonya Harding of securities regulations. Ouch. You are kneecapping the U .S. capital markets with an avalanche of red tape coming out of your commission. Preach. Barr is presumably referring to a scandal where U .S. ice skater Tonya Harding, I'm sure you all remember the story, I was a kid when this happened, and an assailant to attack her rival Nancy Kerrigan in the lead up to the 94 U .S. Figure Skating Championships and Winter Olympics. Kerrigan ended up not competing in the U .S. Championships and here is John Dickens who shared it here. Mr. Barr to Gensler, it's hilarious, you gotta watch these clips for yourself if you haven't seen them. So the next highlight, I wish the Biden administration would say, you are fired. That's right, shout out to Warren Davidson who also ripped into Gensler saying he hoped that the Biden administration would fire him. Powerful words. Davidson accused Gensler of pushing a woke political and social agenda and abusing his role as the SEC chairman. Preach. Massive shout out to the senators here doing their job. Damn good job. The U .S. Representative added that he hopes that the SEC Stabilization Act he introduced with fellow representative Tom Emmer could make it happen. Quoting him here, you're making the case for this bill, which is the SEC Stabilization Act. Every day you're acting as a chairman, he concluded, and Gensler wasn't even given a chance to respond. Now next highlight, Gensler reiterates Bitcoin isn't a security. That's right. When asked by U .S. House Committee Financial Services Chair Patrick McHenry whether Bitcoin is a security, Gensler eventually relented stating the Bitcoin didn't meet the Howie test. Quoting him here, it does not meet the Howie test, which is the law of the land. Then McHenry suggested Bitcoin must be a commodity, which Gensler avoided answering. Mr. No Clarity Gary, hence how he got the nickname, saying the test for that is outside the scope of U .S. security laws. Mr. Gensler, we're living in a clown world with this guy. Henry also suggested that Gensler try to choke off the digital asset ecosystem facts and refuse to be transparent with Congress about the SEC's connections with the FTX and former CEO SBF facts. Gensler also wasn't given the chance to respond to the claims made by McHenry. Next highlight, are Pokemon trading card securities? Gensler says it depends. Can't make this stuff up. Quoting Representative Richie Torres, I cross -examine SEC Chair Gensler about the term investment contract, which is key to determining his authority over crypto. Gensler struggled to answer basic questions like whether an investment contract requires a contract. His evasions are defeating and damning. Suppose I was to purchase Pokemon card. Would you constitute a security for this transaction? Gensler responded, well, I don't know the context before eventually concluding it isn't a security if you purchased it in a store. And then Torres asked if I were to purchase a tokenized Pokemon card on a digital exchange via the blockchain. Is that then a transaction? And then Mr. No Clarity Gary said, I'd have to know more because I don't know anything. Yeah, you can't make this stuff up. Gensler then explained to it when it's investing the public can anticipate profits based upon the efforts of others. Then the core of the Howie test, which it is, Torres called Gensler's evasions as damning to say the least. And the next highlight, a sign of defiance. Meanwhile, amongst the back and forth cross examinations between Gensler and representatives, the eagle eyed observers noticed a Coinbase stand with crypto logo behind the SEC chairman. Isn't that interesting? The Coinbase led initiative is a 14 month long campaign that launched back in August aiming to push crypto legislation in the United States. Coinbase also ran a stand with crypto day, which took place in Washington, D .C. September 27th to advocate for better cryptocurrency innovation and policy. So again, shout out to Warren Davidson, Tom Emmer, all the senators for holding Gary Gensler accountable. Hopefully they do something about it. What's your thoughts, fam? Do you think Gary is likely to listen to them and follow their instructions and approve a Bitcoin ETF immediately? Or do you think he'll continue kicking the can down the road as long as possible until he leaves his position as the chairman of the SEC? Let me know your honest thoughts in the comments right down below. Now let's break down the latest prediction coming from crypto analyst Michael Vanay Pop for some price actions for Bitcoin for the fourth quarter, which we are currently in for 2023. Then we'll break down the latest from the Winklevoss twins and their five hundred thousand dollar Bitcoin price action as the price action of Bitcoin continues to pump, baby. Let's go. Here we go. Let's break this baby down. Crypto trader Michael Vanay Pop is expressing bullish sentiment on Bitcoin in the coming months. Despite the recent struggles in a new video, he says that Bitcoin is on the cusp of reaching levels that offer accumulation opportunities per inch. According to the analyst, the trader Bitcoin could subsequently start an uptrend. Ultimately, Bitcoin is into an area of consolidation here, which makes it very likely we're going to have to retest here at twenty five, six and twenty five eight. If we are having a recess in that region, then there is this zone where I want to start buying my entries because of the recess, which is the ultimate recess. And if we're not going to get that, the flip to twenty six thousand five hundred, that is going to be the area where I think I want to activate my positions as well. And then we can start targeting twenty eight thousand. And then we can also start targeting the higher numbers, thirty thousand dollars plus or even more in the projection of quarter four. That is going to be very positive overall. Let me know if you agree that we'll have an overall positive quarter as we about to enter October. Let's go. Vanay Pop also says Bitcoin's current price action is similar to what was witnessed in the prior pre halving year, quitting him again. As long as we stay above the 200 week exponential moving average, we most likely are going to continue to the upside. And it starts to be very comparable to the period that we witnessed in 2015 and 2016. In this case, we needed it, but we started to consolidate and start to trend up afterwards. It is very likely to this period to slowly but surely the price starts to crawl up. And then we are going to have a case of the upside in the markets overall. And to watch this video analysis, the analyst did check the show notes below the video in the description. It's entitled Bitcoin price. I am looking to buy. So there you have it. And let me know if you agree or disagree with the analysts and are you currently bullish on the King crypto or do you think we're going to dip and test the lower levels? Let me know your honest thoughts, fam. And now let's break down our next story of the day. And the Winklevoss twins on the spot, Bitcoin ETF continuously being basically denied and kicked back and pushed back for the past decade. And then we're going to dive into their half a million dollar Bitcoin price prediction and why they're so confident that the Bitcoin price is going to hit their big target. So here we go. Let's discuss them with the SEC first. This was a story which was, let's see when their tweet was actually, let's scroll down. This is Cameron Winklevoss. This was actually on July 1st, it got 1 .1 million views. Now let me read the tweet. Today marks 10 years since Tyler and I filed for the first spot Bitcoin ETF. That's right. Over a decade ago, the SEC governor's refusal to approve these products for a decade has been a complete and utter disaster for US investors and demonstrates how the SEC is a failed regulator. Here's why. They protected investors from the best performing asset of the last decade. They pushed investors into toxic products like the Grayscale Bitcoin Trust, GBTC, which trades at a massive discount to NAV and charges astronomical fees. They pushed spot Bitcoin activity offshore to unlicensed and unregulated venues. They pushed investors into the arms of FTX, subjecting them to one of the largest financial frauds in modern history. Preach. Maybe the SEC will reflect on its dismal record and instead of overstepping a statutory power and trying to act like a gatekeeper of economic life, it'll focus on fulfilling its mandate of investor protection, fostering fair and orderly markets and facilitating capital formation. This would have led to much better outcomes for US investors. Preach. In the meantime, best of luck to all those fighting the good fight to bring the US spot Bitcoin ETFs to life onwards. So much respect. I mean, 10 years of denying this ETF. I mean, you can't make this stuff up. I think they shared perfectly some of the reasoning. It's to hurt the investors and keep you poor and keep you wrecked and keep you desolate and dependent upon a broken government that threw us overboard so frickin long ago. So much respect to the Winklevoss twins. If you didn't know, they're the owners of the Gemini exchange and they were the very first ever to submit the spot Bitcoin ETF app to the SEC over a decade ago. And obviously they're sick and tired of Gary Gensler, his no clarity and his shenanigans. Just like the rest of us, it's time to fire Gensler. If you think Gensler should be investigated and potentially fired, let me know in the comments right down below and I'll be reading your comments out loud here in a little bit. Now for our breaking story of the day, let's discuss the Winklevoss twins and their case for a $500 ,000 Bitcoin price, which they believe is coming soon. So let's break this down, shall we? And welcome to y 'all just joining us in the live chat. Much love and much respect. So here we go. Winklevoss twins' prediction, Bitcoin will soon hit $500 ,000 per coin. And why? And again, shout out to Tyler and Cameron. Let's get, we already know their background, early Bitcoin investors, OGs, early investors as well with Facebook. Some claim that they're the real creators of Facebook and Zuckerberg stole it. But nonetheless, in a recent interview with the National News, the twins explained they remain convinced of the future of crypto. The main reason is the revolutionary and technical properties as well as the potential of Bitcoin to act as a store of value similar to gold. And in addition, crypto has many other advantages, mainly through programmability. Hence, the Winklevoss brothers believe that Bitcoin could even replace the precious metal. In the long term, Tyler Winklevoss shared the following. If you look at the properties that make gold valuable, Bitcoin matches each attribute or does better. The gold disruption story of Bitcoin is super powerful. We believe in it. Tyler Winklevoss explained his reasoning for the $500 ,000 Bitcoin price action, quitting him here. If you do the math, 21 million in the supply of Bitcoin, the market cap of gold, let's say it's 10 trillion, maybe it's 11 trillion, somewhere in that ballpark, that puts one Bitcoin if it disrupts gold and gets that market cap at $500 ,000 per coin. The two brothers did not want to give specific investment tips. However, Cameron reveals the strategy that they use, which is generally the simplest, which is simply HODL. Hold on for dear life, quitting him here. Generally speaking, if you subscribe to Bitcoin being a store of value type investment, then that strategy is HODL. The same way you would HODL gold is you buy and HODL long term investments. So according to the Winklevoss twins predicting the Bitcoin price will hit $500 ,000, they say predictions are difficult, but they believe that Bitcoin will hit the milestone within a decade. And when they were more recently interviewed and asked, where do you see Bitcoin in five years time? Here's what Cameron Winklevoss responded. We usually take a decade view on it. When we wrote a piece on the value that predicted it being $500 ,000 Bitcoin, we said within the decade. And I believe they wrote that in 2020. So they're basically saying by the year 2030, they're anticipating a $500 ,000 plus Bitcoin price with Bitcoin overtaking that of gold as far as the market cap. Now is that in three years from now or nine years? The timing part is hard, but I think the Bitcoin created $1 trillion worth of value in under a decade. That is fact. I believe back in November of 2021, Bitcoin's market cap surpassed a trillion dollar milestone and the total crypto market cap surpassed $3 trillion. But as of today, we're closer to a $500 billion Bitcoin market cap with the entire crypto market cap down to a trillion. Now, it also spawned many huge productions such as Ethereum and the entire asset class. He continues. If you look at the value increases in Bitcoin, it is this punctuated equilibrium where it is steady, steady, steady, and then boom, it reaches a new price level. This is the new normal. So it can happen very quickly. So there you have it, fam. Ultimately saying when Bitcoin takes off, it explodes quick and vast. And especially considering that two of the most bullish catalysts in Bitcoin history were on the cusp of. Six months away from a Bitcoin halving, we all know the Bitcoin cycles every four years, it drives the Bitcoin price up as it increases the scarcity as well as increase demand, basic stock to flow, numbers must go up. And we also have the approval of a Bitcoin ETF likely to take place in 2024, especially with Congress on Gensler's. But we also have the ETF experts such as Eric Balchunes given a 95 % chance probability that a spot Bitcoin ETF likely get approved in 2024. Those two catalysts will absolutely make Bitcoin rip to new all time highs entering price discovery mode like we have never seen before. So how high do you think the Bitcoin price will likely climb by the time of this next halving? Roughly six months out, scheduled to take place sometime in April of next year. Let me know your thoughts in the comments right down below. And don't forget to check out cryptonewsalerts .net for the full premium experience with video and to participate in the live Q &A. And I look forward to seeing you on tomorrow's episode. HODL.
CoinDesk Podcast Network
A highlight from MARKETS DAILY: Crypto Update | SEC Chair Faces Harsh Questions as Ether Spot ETF Proposals Hit Delays
"This episode of Markets Daily is sponsored by Kraken. It's Thursday, September 28th, 2023, and this is Markets Daily from CoinDesk. My name is Noelle Acheson, CoinDesk collaborator and author of the Crypto's Macro Noun newsletter on Substack. On today's show, we're talking about Ether ETFs, SEC confusion, and more. So you don't miss an episode. Be sure to follow the podcast on your platform of choice. And just a reminder, CoinDesk is a news source and does not provide investment advice. Now, a markets roundup. Well, Bitcoin has been busy over the past 24 hours. After that nice run -up yesterday that I thought was a sign of strong investor support, the Bitcoin price rapidly fell back down again. It has been climbing since, however. At 10 a .m. Eastern time, it was more or less flat, trading at $26 ,532. Depending on what happens over the next couple of days, Bitcoin could break the trend of negative performance in September. The ninth month is typically a weak one for crypto's leading asset, delivering negative returns over the past six Septembers. Bitcoin's average performance for the month is almost negative 5%. As of this morning, however, the asset price is up more than 2 % month to date. That kind of a break in the trend would be welcome news. In Ether, interesting things are happening. Like Bitcoin, it climbed yesterday and then fell back, only to start climbing again, but with a more consistent slope, suggesting a steadier over the past 24 hours. Relative to Bitcoin, Ether has notably outperformed over the past week, climbing two tenths of a percent versus Bitcoin's drop of 2 .3%. This could be due to the likely listing next week of the first Ether futures ETFs, which could boost demand and market volume. I'll talk more about this in a moment. In traditional markets, US stocks closed more less flat yesterday, rising in the second half to recover early losses. Over the past 10 days, the S &P 500 is down more than 4 .3%, the steepest 10 -day drop since March. You may remember that March was banking stress month. Investors are rattled by the surge in 10 -year Treasury yields, which yesterday rose above 4 .6 % for the first time since October 2007. The rising rates are investors for three main reasons. One, there's the patterns last seen just before the great financial crisis of 2007 -2008. Two, there's also the impact on company earnings. An article in the Financial Times this morning pointed out that interest expenses for the S &P 600 small cap index hit a record high in the latest batch of second quarter earnings. And 30 % of companies in the S &P 500 are now trading at a higher rate. Reason three, there's the message the market is sending. This is that it expects rates to remain higher for longer. This is likely to keep the dollar strong and inflict more pain on global markets. In Europe, stock indices have been taking a breather from their recent drops, with most showing moderate gains so far today. Over the past month, however, the Euro Stoxx 50, which tracks Eurozone blue chips, is down over 4 .3%. An index of Eurozone economic sentiment released this morning showed a fifth consecutive monthly drop in September. Inflation expectations rose. In commodities, oil prices continued their climb in the face of fears of supply shortages. The Brent crude benchmark rose above $96 per barrel for the first time this year this morning and is now almost 6 .5 % above its level a year ago. However, the market is signalling that this could abate soon. The prices of futures contracts six months out is lower. This suggests a scramble for spot delivery. In other words, oil now and not later. This has been most likely triggered by reports of reserve drawdowns in the US and the need in many areas to build up stocks as winter approaches. Moving over to gold, after a brief attempt at a recovery earlier today, gold slumped back to its support at $1 ,874 per ounce. Like Bitcoin, gold is holding up surprisingly well given the strength of the dollar and of real yields, which are yields adjusted for inflation. Gold normally moves inversely to real yields. When these are high, gold is less attractive as it doesn't produce an income. As measured by the 10 -year Treasury inflation -protected securities, real yields are at their highest since 2009. The last time they were at these levels, gold was roughly half the price it is today. One key macro data point to watch out for is the US Personal Consumption Expenditures Index, or the PCE. This is the Federal Reserve's preferred inflation gauge as it measures goods and services bought by all US households and non -profits, while the CPI only measures purchases by urban households. Tomorrow morning Eastern Time, we get the latest data for August expected to show an uptick. This will largely be due to higher energy prices. Stripping out higher energy and food prices gives us the core PCE index growth, which is what the Fed focuses on. This is forecast to show a continued downtrend. Remember, though, that August's core CPI grew by slightly more month -on -month than expected, so there may be a negative surprise tomorrow as well. This will be relevant for interest rate expectations. Stubborn inflation means that rates will remain, and you've heard this before, higher for longer. Stay tuned, after the break we'll take a look at more SEC frustration and at the likely listing of Ether futures ETFs.
Bloomberg Radio New York - Recording Feed
Monitor Show 07:00 09-28-2023 07:00
"Do you need a better way to respond to FAQs so your staff doesn't go crazy answering the same questions over and over and over again? Vonage does that. With the ability to have AI -powered conversations in over 100 languages, Vonage virtual assistants can instantly connect to your contact center and answer calls, providing answers any time of day. Your live agents can be free for more complex cases. Learn more about the benefits of conversational AI and see everything Vonage can do for your business at Vonage .com. It's too early? I think you have to be very valuation sensitive in this market. Buying duration in here, we're about to start swimming downstream again. I don't think that you're going to re -enter a bear market in equities. I think there's a lot getting built in that's momentum right now. This is Bloomberg Surveillance with Tom Kean, Jonathan Farrow and Lisa Abramowitz. So much feedback on Dan Ives's shirt this morning, live from New York City. Good morning, good morning for our audience worldwide. This is Bloomberg Surveillance on TV and radio alongside Tom Kean and Lisa Abramowitz. I'm Jonathan Farrow. Your equity market just turning positive at the close yesterday. It continues this morning. In the last one hour or so, we're up by 0 .1 % on the S &P. Elsewhere, new cycle highs in the bond market on a 10 -year, on a 30 -year. $95 crude briefly on WTI. And in the past day or so, Tom, we've got DXY highs we haven't seen for at least 12 months. It's good to go to DXY. Blended major trading currency about 54 % Euro, 106 level, unimaginable 90 days ago. John, I just would really emphasize on a Thursday with massive economic data at 8 .30. What I would emphasize, it's an equity market with a VIX of 18 .18 removed from the turmoil in bonds in FX. Big turmoil. I'd put it that way, Tom, and I'm with you. Away from equities. We've talked about this already this morning. Worth going over again, Brahmo. Stocks have been a bit of a snooze. 7 % move. Yes, it's sizable. It's noteworthy, but based on what you're seeing in treasuries, you already haven't seen for 15.
The Financial Guys
A highlight from Rising Auto Theft Rates: Urban Consequences and Solutions
"Well, you see how easy this is now. Now you look at how they move money around and how the in your face money laundering folks, this is what this is. This is corruption and fraud. Some of the Bidens are great at the money laundering part. They got 20 shell corporations, but guess who's getting the guess who's going to be controlling the funding to rebuild Ukraine. We pay to destroy it. And guess what? The Hillary Clinton Foundation gets paid the rebuild Welcome right. to the podcast. We are in the same studio today, which is kind of nice. So thanks again for downloading. If you're just listening, if you're watching or watching the clips, uh, thanks for watching as well. And just for a quick mention, so I don't forget, if you haven't downloaded our app yet, I'm noticing we're getting a lot of downloads and the cool thing is when the morning Mike's program is going Monday, Wednesday, Friday, I'm the, seeing the view count go up and up and up, which is awesome. So I know we're only, you know, we're still in the dozens. I'd like to get into the hundreds and eventually thousands, um, but it's a cool program. If you haven't listened to it, it's a quick 15 minutes to quick by morning, run down three days a week of the top five topics, three minutes each. Do a great job. They do an awesome job when we're, when we fill in the stuff. We screw the whole thing up. Yes. Yeah. We, we blow the whole, the whole, uh, the schedule, but, um, but they do awesome and they're funny. I love it. It's a quick, you know, down and dirty 15 minutes, top five items of the day. And now you get your day started off on the, uh, they, you know, I think on the right foot, they were saying this week, like, Oh, it's so negative all the time, but I think they're hilarious. They take the negative stuff that's going on, but of course the negative stuff isn't the news. Yeah. Yeah. That's what we're seeing. I mean, carjackings again, Rochester had another, you know, record night. I mean, it's incredible how that was going on. And so it's amazing is, is like the Democrats just sit around and watch this happen in every city and every city. It's insane. Yeah. I sent you an article earlier this morning about Philadelphia. Let's see. I can find it. It's, uh, not that it's anything out of, you know, anything that we don't know about, but let's see here. Philadelphia swarmed by alleged juvenile. Come on, come on. Juvenile looters targeting the Apple store, Lulu lemon and footlocker. Yeah. So, cause they're starving. They're starving. They just, just need a little piece of ham and some Turkey. They need clothes and food. That's, that's only fair. I mean, they, you know, and once again, I know we've all heard this joke, but footlocker is not missing one pair of working boots. No, no, all the Nike's, all the Nike. Yeah. Well, some of those Nike's, I mean, Oh my God. Crazy. You know, talking about like, you know, thousands of dollars for a pair of, thousands, thousands of dollars. I was talking to my daughter and she said to one, one of her friends has a, as a pair of shoes were $1 ,200. I'll never forget the most expensive pair of shoes I ever bought. We were just starting a business. This was like 30 years ago now. Right. Crazy to think. And I remember somebody told me that maybe my dad was like, you got to have a decent pair of shoes. Right. And so I went up and I bought a pair of Justin and Murphy's. They're like 120 bucks at the time. Yeah. The most money I have ever spent on a pair of shoes. Now boots, I've spent more money on since because boots are more expensive, you know, hunting boots. Well, there's a purpose to them. I still don't spend more money on shoes. Like I'm wearing like Skechers or like $40. Like some of these Nike's $500. You can't tell me you're running faster. It's different when you're going to go out and buy a pair of like waders or something. You're going to use them. First of all, you're going to use them for the next 30 years. Right. And there's a purpose to them, right? Like, okay, they're more expensive, but I can walk through the water with them. Right. But if I bought like, if I had five, 600 hour pairs of shoes, I'd be afraid to leave the house. I wouldn't, I wouldn't get off the carpeting. Well, they're targeting the Apple store here, Glenn, because they'll buy jobs. And that's the only way to get a job is to make sure you've got an Apple iPhone. So it'll be like Chicago. We talked about this the other week with, with, uh, with Mike Speraza, Chicago is now forced to open or, or just talking about opening, you know, a, a government run grocery store in the inner city because they've all that. Well, they're going to, so they're going to, they're going to, the plan is to fight the communism with more kind of communism, right? That's going to work really well. But could you imagine how inefficient, first of all, Walmart's pulled out, Costco's pulled out, all the stores have pulled out because now target, have you heard targets now closing stores across the country? So target is now going through and discussing all the stores across the country, liberal target, liberal target. They put a black lives matter that they ripped down the smash of the window. I thought that'd be some sort of a shield or that we're just going to put up this, uh, this plywood and we're going to spray black lives matter on it. Hashtag hashtag BLM. And we'll be safe as they rip it out and use that same plywood to smash the window with. It's pathetic. There'll be nothing left in these inner cities. The problem is when it starts to spill over into the, into the, Oh yeah. This is, this is where it gets ugly. Well, they want it. That's what they want. That's, that's why people like, uh, the governor of New York, uh, you know, Kathy, the ice queen, Kathy Hochul is, is, you know, they first tried the push for section eight housing in the suburbs because that was only fair. Yeah. Now they couldn't get that through because the people in the suburbs are like, whoa, whoa, whoa, whoa. Now they're busing in illegal immigrants in the middle of the night. And I tell you something, if these Democrats like Mark Poland cars were proud of what they were doing, they would have a welcoming party at noon at noon, high noon. They'd have a press conference welcoming our newest community members off the bus so that the whole community could see these family units that are getting off. You got the husband, the wives, the two kids, you know, the things that we see in our country, right? No, it's not happening. They're bringing them in at two o 'clock in the morning. So nobody sees, they're all, they're all 23 year old males, right? Or 18 to 25 year old males. Some of which are from the Congo. I don't know about the, uh, you know, the, some of the social norms in the Congo, but I'm just thinking that maybe they're a little bit different than the Western world. I don't know. I'm just thinking maybe not. Maybe they're exactly like us. I don't know. But they're exactly like us. Why would they want to come here? Why are they aspiring to come here? I don't know. Anyway, it's a fentanyl fentanyl up again, by the way, there was another report. I think it was on a Fox news. Well, good for the Republicans. I mean, at least part of them, I should say good for the five or six Republicans that are the extreme right wing, according to the media, that's holding this garbage up. No, shut the government down, shut it down, shut it down until there's no more money. Take the money, go into Ukraine and send it to Texas, which they did right to the border, which they didn't do last time. Right. Kept it open. That's what do you need? What do you need? We're out of control. The founding fathers gave the power of the purse to Congress and the, and the Pentagon, the Pentagon goes, yeah, you know what? We're just going to exempt Ukraine funding from the budget. So ha ha. We just went over 33 trillion. If you go online and look at the clock, it's moving fast, right? So we're on our way to 34 or 35. Can you even see the numbers anymore? They just blur blur now. So, so fast. Oh no. And, and good news, by the way, we're refinancing this debt at 5 % now, not at 1 % or zero like we were doing. Yeah. It makes a lot of sense. Yeah. It'd be great. Yeah. The fence talk about keeping rates higher for longer. I don't know. They're not going to be able to do that. They'll be cutting interest rates by next year. Mark by where? And the number one reason I say that is because when you talk to every economist, I say, that's not going to happen. And they are typically wrong. So if you take the, it's like saying betting against the casino, it's like saying, you know what? I don't think MGM is going to make money in the sporting books next year. Ma, they're going to figure out a way to make money. They'll rechange the lines, right? Well, you, all you need to do is look at it and get a bunch of economists in a room and ask them where they think the market's going to be and then do just the opposite and you would be way better. Yeah. Pretty much that's usually the way to go. No doubt about it. So the, the, the, the Pelosi, we were talking earlier about the Pelosi stock trader. Yeah. You can follow online. Now, some of these folks, we did the game show game last week. We talked about the, uh, the net worth. I picked the poor ones too. They were like 23, 21, you know, $20 million. Some of these folks are amazing. I mean, really just, you know, the wizards of smart on some of these are just really, timing is impeccable up here. This is somebody who is selling some software that I'll track it, which you can, you, you've pointed out, you can get it for free online, but, but the, the numbers are really astonishing. This Democrat Senator sold her Aspen vacation home for $25 million. That was just after she sold her Lake Tahoe vacation house for $36 million. Well, by the way, why, why do they own these big $25, $36 million homes? Well, a big, big part of it is because the taxation of it, right? So a Feinstein who's telling you your ordinary income tax rates are too low. She's shifting that to a capital asset, which is going to create a capital gain in the future or no gain. Or no gain. I mean, they're 10, 10 31. This is why when Donald Trump looked at Hillary Clinton right in the eye and said, you will not get rid of the carry interest deduction and you know it because all of your, I use it, of course, all of her bigger donors donate money to Hillary Clinton. And this is exactly the truth, right? They will never get rid of some of these things. Like they talked about, we're going to get rid of the 10 31 exchanges. Yaha. Yeah. Uh huh. Yeah. So the big developer strokes a giant check to the, to the Democrats off the table. Let's listen to her success though. Amazing. A Senator sold her Aspen vacation home for $25 million just after she sold her Lake Tahoe vacation house for $36 million. Only two years earlier, Diane Feinstein has been a member of the political scene for 32 years and her salary is only $130 ,000 per 130 grand a year. Now it's more now. That's a little bit dated, but it's up, it's up to probably 180 now. But, but listen to this. First of all, if it was up to 580, you're not buying $23 million homes, $36 million homes. No, no, we're going to put in multiple homes. We're going to, we're going to put the Paul Pelosi onto our research committee. You make a million dollars a year. First of all, most of, most business owners that make that kind of money, they didn't make it throughout their whole life, right? They didn't start making a million dollars at 20 years old. They started making a million dollars at 50 years old and it took 30 years to get to that point. Right? So my point is, you're not at a million dollars a year at age 50. If you did it the right way, the hard way, and you did it yourself, you're still not affording a $23 million home, right? Multiple ones. Yeah. Multiple, multiple. Right. Those aren't even her primary residence. Those are her vacation homes. She lives in, she lives in California. Listen to this though. And it's, it's all of them. It's all of them now. This is a, this is from Nancy Pelosi, stock trader. Uh, this is a tweet, uh, a Twitter feed. You can follow Pelosi tracker is what it's supposed to track or underline or something like that. You'll find it. Anyway, uh, three weeks ago, sitting politician bet against the U S economy so far. He's been right. Tom Carper bought $45 ,000 of PSQ and inverse ETF on the tech sector on eight 23, August 23rd. Since then he's plus 3 % while the market is negative 4%. Go figure. Wow. Go figure. Man, these guys are so good. Yeah. And they're not by, they're, I mean, these are, that's some pretty technical strategy. You started getting into options strategies and stuff. I mean, yeah. Yeah. These guys have become very, very slick. It's not just about buying a, you see, it used to be, okay, I'm going to buy X, Y, Z. Then I'm going to vote for or against something. You know, I'm going to short the stock and then I'm going to vote against them for both that, that, that. So the stock goes down or I'm going to vote for something, knowing that it will benefit the company. The stock will go up and in a sense front running. No, they're, they're in the options strategies now. They're in the market. Yeah. They're doing butterfly spreads. Yeah. Crazy stuff going. They're very sophisticated. They shouldn't be allowed to two things. When you go into Congress, I, you know, I would love to have a Congress person run on or present around the following platform, right? Number one, term limits, term limits, top of the list. Number two, though, while you're in Congress for the eight years, or wherever we allow you to serve 10 years, 12 years, whatever it is, you could not invest in a stock market at all. All your investments are frozen or your choices, a model, some kind of a model liquidated go to cash, or you could buy the fidelity balance to counter. You could buy the, you could buy the T -rope price, you know, target retire, whatever, you know, or you go to goes into a blind something or other where you have no idea. Right. It just goes into what you picked a one through five tolerance for risk and somebody else invest. Maybe it's just broad indexing. Maybe that's it. Right. Something that doesn't allow this kind of garbage to go on where, you know, they buy, you know, Tesla stock and then approve a huge, you know, oh, we're going to, guess what? We're going to build a, you know, for government funded battery stations all the country. Of course, Elon comes out and goes, we already got those, you idiots. I did that like four years ago, you morons. Amazing what Elon can do and what the, what the government can. Going back to target for just a second, not to digress, but I found WGRZ, thankfully came up with a list of the, uh, the target stores that will be closing, Mike, the full list of locations all in, all in Republican run. You'll be shocked. Yeah. Yeah. Right in the, uh, the thriving, the, uh, you know, thriving, the Minneapolis, uh, location, the retailer said the decision, the close was really difficult. I wonder if that was after half. That was the one they put the BLM on. Yeah. Oh, that was the one they put the sign on that said, please don't burn our store down. We love you. I hashtag BLM lit it on fire. Yeah, that's right. Yeah. Uh, let's see. I'm shocked though. I wouldn't, I'm surprised you wouldn't stay. I mean, you know, like just collecting, you love them. You love, you support them. This is what you supported. Remember you, you, you raised money, you gave money. Yeah. And guess what they did with that money. They agitators hired to whip up people in the community to smash and burn down your store. You idiots. So there you go. There you go. Nice, nice work. What else do you think, Mike? Uh, New York city's East Harlem neighborhood. That's going to be one that's goes down. I wonder why. Chicago, San Francisco for sure. San Fran. Yeah. San Fran. Uh, by the way, before I forget San Fran, Democrat San Francisco mayor, announces plan to require drug testing, which is good in an effort to, if you're going to receive homeless benefits. Right. But the funny thing was in this same passage, they're going to Texas to try to recruit police officers. The funny thing is is that the people they sent from San Francisco to try to recruit people. They didn't come back. They defected like North Koreans. Some of them got jobs. They get over the wall. They come out, they get over the wall. It was hilarious. No, they didn't go back. Well, the other five stores, Mike, three in Portland, Oregon and two in Seattle, five, three in Portland. They're pulling out of Portland together. All of these inner cities folks will be food deserts. You're going to hear that term. It'll be business deserts. It'll be nothing. Well, business deserts, nothing left, but there'll be, but target, don't forget target. Does target sell food? Yeah. Well, yeah. They sell food. Yeah. For sure. Yeah. Well, I don't go on target. So Walmart I know does Costco for sure. Costco is a food store. I don't think target is as big as Walmart as far as like fresh fruit, but definitely frozen food, all that kind of stuff. You know, aisles of pop and water and chips and right, right, right. And all that kind of stuff. But you can definitely frozen food. You can buy bulk frozen food there. So, so there's going to be food deserts, all over the place, business deserts, whatever you want to call them. You know, it's amazing because you know, the, there's no policing. And the sad thing is that is the problem. It's not, there's no policing. I shouldn't say that. Excuse me. No, you're policing your asses off. I get it. There's no ability. There's no prosecution. There's no bill. You guys are arresting people, putting them in and they go right back on the street. They're getting, they're getting appearance tickets. It's a joke. Your point is no, there is no policing anymore because of the system, the Democrats put together where the police officers aren't going to bother. If you're a police officer and you know that somebody is going to be this, this carjacking or whatever is robbery. And you know that there's a potential, you're going to get an altercation where you're in New York state. There's two police officers that have been brought up on charges recently with almost a hundred percent chance that if you do catch that person, that person will be right back. Yeah. A hundred percent. Why would you bother? Why would you bother? You're not going to put your life in line. No way. You want to go home to see your wife and kids too, and your mother or your husband or whatever. You want to be able to spend your Christmas with your family. Why would you do that? And they know that, right? The Democrats know that. This is, you can't be this stupid. I mean, who allows these people to go right back on the streets and say, this is a good idea without correcting this right away. You can say, okay, bail reform. Our intentions were one thing, but when you look at the fact that in New York state, we are now breaking records in towns like Rochester and Buffalo for the most amount of vehicles being stolen. We can say, okay, look at bail reform, put it in place. It clearly did not work. It's been a total disaster. These towns have turned to shit. We absolutely need to go back in the other direction. They're not doing that. They don't care. They want to, and they're doubling down, tripling down on it, tripling down. We invited this liberal on, you actually were on the show with him and he said, things are actually safer since bail reform. That's what his argument was. His argument was, and by the way, his argument was if we have even less police officers, cities like Buffalo will get safer. Well the thought was less police officers, less arrests. Less arrests means less crime. Dude, you got the whole thing backwards, bro. And not only that, but now we know that, right? Now we know, now you can, I mean, literally auto thefts are up 360 % in Rochester. They're not up 3%. You can say, well, you know, in Buffalo and we're in second place. And they can't play, they can't play in COVID. They're trying to like, well, it was a lockdown. People were at pent up, whatever. Remember that was the, that was the reason for the rioting and the ballooning and burning like, well, people had a lot of pent up. We probably should have locked them down. That was a little bit of the reason for the increase in suicides. You guys, you guys increased suicides because you locked kids in their homes, but it wasn't the reason that they went and decided to steal Nike sneakers from a footlocker. So check this out. Speaking of COVID, this is huge. This is, I don't know if you saw this or not, but this is absolutely ginormously huge. Dr. Fauci was smuggled into CIA headquarters without a record of entry where he participated in the analysis to influence the agency's COVID -19 investigation according to the house select subcommittee on the coronavirus pandemic. Did he need to do much with these left -wing CIA agents? Probably not. No, no, no. That's what they're smuggling him in for. Well they smuggled him in because they didn't want anybody to know that he was part of the PSYOP operation, which was hydroxychloric. By the way, the I think it was a Mayo clinic and some other hospitals now have come out as well as the CDC and said hydroxychloroquine, yes, indeed is an effective treatment for COVID. Oh, by the way, ivermectin also an effective treatment. The CDC now approving that. Now mind you, we're going to keep in mind that if there was any other treatments that couldn't get the emergency use authorization for these vaccines that clearly don't work. Amazingly, I'm still seeing people online go signing off my sixth booster on our way for the sixth shot, proud to get our sixth shot. How about how about one the other day, local left -wing nut job got her sixth booster shot, six shot and she still got COVID and then she said, well, I was so good hiding and it got all my shots and then I went to a concert and I got it at this concert. Well, first of all, you don't know that, but second of all, if you have six shots and you six shots and you still got COVID and you actually think that was a good idea, you don't need a vaccination. You need a mental, you need a mental check. I tell you, I know people during the during the COVID, the height of the COVID that were older, some of our clients actually that were prescribed by a doctor a hydroxy quirk when they were taking it once a week as a as a preventative measure. Yeah. And they, to this day have never had COVID. Yeah. And it's, it's, I mean, so it, but the sad thing is again, you know, we couldn't, it's all about the money now. And that's, you know, when people talk about the evils of capitalism, you're seeing some of that. Now, capitalism is the best thing on the planet, right? As far as, you know, lifting the masses out of poverty and creating amazing amounts of wealth. But the problem is this isn't, this isn't capitalism. What's going on. This is cronyism is what's going on. It is, Hey, look at, I will give you these government dollars. You're going to get this patent. You're going to get this. Unholy marriage between business and government. Mark my word. We were talking about Feinstein selling 25, $30 million homes. This Fauci will be on the board of Pfizer. He'll be on the board of Moderna. He's going to get shares of those companies. He will be blessed with with with millions and millions of dollars. His family watch and see, we'll be talking if we're, if you and I are fortunate enough to be around 20, 30 years from now, we'll be talking about the Fauci trust and watch and monitor that trust and see how big that family trust. Well, you see how easy this is now. You look at how they move money around and how the in your face money laundering folks. This is what this is. This is corruption and fraud. Some of the Bidens are great at the money laundering part. They got 20 shell corporation, but guess who's getting the, guess who's going to be controlling the funding to rebuild Ukraine. We pay to destroy it. And guess what? The Hillary Clinton foundation gets paid to rebuild it. Right. And guess who's going to get the contracts to rebuild. Oh, that'll be probably one of the Biden family members or somebody else's politically connected. Right. Remember it was, it was a Joe Biden's brother who got the contract, the multi -billion dollar contract to rebuild Iraq. No building experience, never been a contractor, right? No idea. Right. This is why these projects cost 500 times what they're supposed to cost. This is why when money comes into Buffalo, for example, $25 million to build homes, five get built. And you were, wait a minute, five, are these $5 million homes in the East side? Each of those homes would have been built for a quarter million dollars or less. And yet where did the rest of the money go? And the, the answer is never, we don't know. We don't know. We can't account for it. Or we'd have no idea. Or I mean, how many times have we've seen that in so many places that whether right down the local level or God forbid at the federal level between, you know, Iraq and others. I was telling you last week on the radio, I was reading an article about the grants that were coming into the city of Buffalo to plant trees. And I thought, okay, wow, like this could be sweet. Okay. You know, like I'm a big tree guy. I love trees. I plant trees every year. I do think, okay, that's one way to, first of all, I think it's one way to make a community look great. When you, when you drive around, let's say North Buffalo, all the streets are all tree. They look beautiful. You drive around the East side, it looks like shit, right? So, okay. You're going to take some of my tax money and you're going to directly plant trees. Okay. It's a win for the environment. It looks nice. It's going to bring things together. I'm like, well, where's the catch? This is a government agency. Where are they going to screw it up? You read through and you find out that they're paying $1 ,000 a tree. Now you and I both know that if they're saying it's $1 ,000 a tree, by the time it's done, it'll be two to $3 ,000 a tree. Now you, you're talking about $13 million worth of trees. You and I just planted trees. Every year we plant a few trees around our office, you know, three, four in the spring, three, four in the fall, just so they can start to grow and work their way in. And then, you know, plant more. We pay $250 a tree, plant it. Right.
CoinDesk Podcast Network
A highlight from MONEY REIMAGINED: Breaking Down Barriers to Crypto Adoption | Insights from Jan Van Eck and Matt Hougan
"You're listening to Coindesk's Money Reimagined with Michael Casey and Sheila Warren. Hello and welcome to another edition of Money Reimagined. I'm Michael Casey. Listen to us weekly on the Coindesk podcast network or wherever you get your podcasts. We would love to hear from coindesk .com. Subject line Money Reimagined. Sheila is out this week so it's me on my own but what I'm bringing to you are recordings from an interview I did earlier this month with two leaders in fund management, both of whom have significant interests in crypto. One is Jan Van Eck, the CEO of Van Eck funds and the other is Matt Hogan, chief investment officer at Bitwise Asset Management. Van Eck and Bitwise have both filed applications with for Bitcoin. The question I wanted to put to you guys, and I'll go to you first, Jan, is I've been covering this space for 10 years now. And I think we all thought there may be some tipping point moment when the world would suddenly embrace this. And certainly there's been some incredible growth, both in terms of prices and activity and development, phenomenal growth. But at the same time, it always feels like, no, it's not yet there. So what is the single most important barrier that you see toward wider adoption of crypto? Sure. Thank you. I really break it down into, are you talking about crypto as an investment, as an asset class that should be in people's portfolios, or as a technology to be adopted? And I use this example of the relational database, which was a big breakthrough in the architecture of databases 50 years ago or more. And it created a lot more productivity, almost like AI is doing with technology today. But who cares? It wasn't investable, right? It was a nice technology, but it wasn't investable. So I'll start with the investable aspect of it. And I think that since 2017, I firmly believe that Bitcoin is a store of value alternative to gold. But I also say it's sort of like an eight -year -old child. It's going through evolution and adoption, even this year, with the ordinals kind of break through for a while and sort of transaction fees being a thing in Bitcoin, right? It's evolving, it's code, it's kind of living. And I think there's a lot of investor types that haven't adopted it yet. And that's what I see kind of going forward in the future, whether it's probably frontier countries adopting it more, maybe even formally through their central banks or something like that. I think that's foreseeable. I don't see the German central bank or the central bank buying it anytime soon, but it's possible. One of my colleagues pointed out, I think you all did a survey of, sorry, this is a long answer, but yeah, Coindesk did a survey, I think, of perceptions globally of crypto and there was a big break between EM and I guess specifically it was energy usage. It being friendlier for energy usage was the majority view in the emerging markets and in the developed markets, it wasn't that, it was the opposite. So anyway, I see Bitcoin as kind of going through cycles and gradually getting more investor adoption, the ETF aside. So let me stop there and give it to my colleague, Matt. Thanks John. I agree. And I like that separation of investment case versus sort of maybe real world utility. I would add on the investment case, I think it's already there. I agree. It's a digital alternative to gold. And so the people who are holding it are using it for its use case. And I think the barrier to mainstream adoption really is the ETF. I know we'll talk about that more later, but I think if you look back at gold, it was the ETF that brought it into the mainstream. There were a few gold funds before the ETF. Van Eck ran one of the longest running, maybe the longest running, a phenomenal fund, but it really wasn't mainstream until we had an ETF. And I think that will be the tipping point. On real world use cases, if you look at like the Ethereum ecosystem, I actually think we surmounted one of the major hurdles over the last two years. I think what stopped the NFT boom and the DeFi boom was actually the rise in transaction costs as much as anything else. I think there was not enough throughput in that ecosystem to allow it to go mainstream. And I think the development of layer twos have allowed it. I think that's necessary, but not sufficient. So there's still additional barriers, there are regulatory barriers, there are design use case barriers, but I actually think that throughput question was the biggest one and we surmounted it. We just haven't seen the fruits of it because of these other steps that we need to take as well. Okay. So there's actually both of those answers, some things I want to dive into a little bit here. The first one is like this idea of it being gold. And I think in a way, I think maybe you can read from it slightly differently because Jan, you're talking, this is what its use case is, but there is still some evolution in a way that Bitcoin needs to go into. What I think is fascinating about that is like, okay, gold isn't going to evolve. It is just gold. It's in the ground, right? But there is this Bitcoin is code, but it's also a community. It's a living, breathing ecosystem of human beings, which makes it sort of unique. And so therefore, like, you know, how it evolves into being recognized for being the status. Is there an educational component to this, for example? Like, is it important that people kind of get in their heads? We can all use the digital gold analogy, but even getting there requires an understanding about why this actually does do that. Well, let me, this is Jan. I am going to pick a fight with you on the gold side because the use of gold as an investment has changed dramatically over the last 100 years. So even if you look at the history of our company, VanEck, the reason we started our first gold fund as a gold mining fund is it was illegal to own gold in 1968. So you see both Bitcoin and gold being affected not just sort of by securities regulation, but much bigger political, debates. even geopolitical But if you go back to before FDR, right, gold was the underpinning of central banks globally with the idea of trying to reduce currency volatility so that there would be more global trade and global wealth. But then they moved to basically away from the gold system. FDR did when he wanted to spend more money during World War II. Anyway, so, you know, gold has been in and out. And now more recently, central banks around the central banks because they don't trust the U .S. to hold their dollars anymore. Okay, so maybe that's a little historical quibble, but I do think that the role changes and I think it will change with Bitcoin going forward as well, just sticking to Bitcoin. It still sounds to me as if that is a discussion about the external factors, right, i .e., regulatory models, whatever, where governments stand. And all of that is maybe what the composition of what gold is and what a secure, uncorrelated investment needs to be is all contingent upon what is actually happening in that geopolitical circle. So in some respects, Matt, it gets back to your point about like, we're still sitting here waiting for the regulators to make a decision about an ETF or whatever. Yeah, I do think we are. I wanna hit one more thing on the gold thing and then I'll get to that because I think it's really important. There is this perception that gold has been the same for 5 ,000 years, completely wrong. Most people's perceptions about gold are untrue. We went off the gold standard in the early 1970s and people didn't know what gold was, right? They were figuring out what its role in the world was. Coincidentally, or maybe not coincidentally, that was the single best decade to be invested in gold. That was a phenomenal time. When stores of value move from uncertainty to established is when they accrue a lot of value. And that's what's happening in Bitcoin. I think there's some direct analogies to gold. I'd also add gold is a lot more volatile than people give it credit for. People think of it as this steady eddy. It has big swings up and down 20, 30 % a year. A store of value doesn't have to be day to day, unvolatile to be useful. It has to hold value or accrue value over long periods of time. And I think people discredit Bitcoin because they misunderstand gold a little bit. Just to add a comment on Bitcoin before we get off of that, gold shares, to your point, like Bitcoin miners fell 90 % from 2011 to their lows in 2016. I mean, you don't get worse than that, right, in terms of volatility. And that's a part of the ecosystem. It's not bullion, but still, I completely agree with you. So I just wanted to add that. I do think also, and I really want to push you, Matt, on this, that we have a global view of regulation of Bitcoin, right, because China has really taken its foot off the brake over the last year. And I think that's, you know, I call it the country the size of the United States. I think that's super important. Yeah, I think that's really important, too. I actually agree. And I think that's been going on for the last decade. It's sort of like a blanket that won't cover the whole world. And when somebody pulls it, then another government's like, oh, maybe we have an opportunity. I think that's what we saw in China with the U .S. being more restrictive, and then Hong Kong saying, well, what if we aggressively banked gold? Maybe there's an economic opportunity there. And I think it's sort of anti -fragile in that sense. Can I just punch down, maybe we're going to move to the technology side, but I just want to punch down on Bitcoin, because I think it, as an investment, is potentially relevant to everyone's portfolios here at this conference. I mean, you may not like, there are investors like Warren Buffett that will never invest in gold and would never invest in Bitcoin. But for a lot of people, the biggest risk out there, I would say, macro risk, is U .S. federal budget deficit. And I don't know of a better hedge than gold or Bitcoin. So maybe that risk doesn't come to fruition in our lifetimes, but it has got to be an alternative that people think of regardless of everything else in crypto. Yeah. Jan and I are going to keep going back and forth. I would add, it doesn't have to come to fruition for gold to be a good, for Bitcoin to be a good investment. It's an insurance against that potentiality. And if you're a wealthy individual, that's one of the biggest risks to your long term wealth and holding that insurance policy regardless of the outlook. Last thing I would add is we've come a long way. The other mistake people make when looking at Bitcoin regulation is like evaluating us today versus a year ago. If you evaluate us today versus 10 years ago, massive progress, even today versus five years ago. Look at the conversation in Congress today around crypto versus where it was two or three years ago. People need to relax a little, take the long view, and they'll probably have a better outlook for their long term investment.
Capstone Conversation
How Pinole Is Thinking Outside the Box for Economic Development
"I do a lot of economic development consulting, helping a number of cities, a number of business improvement districts grow, and a lot of the conversation around business attraction is, how do we help a city sort of make the permit process easier? It's still got to be there, you still got to conform to certain regulations, but I'll give you an example. Last week in the paper, Vacaville attracted a new science business, and their city manager was in the paper and said, we will have everything permanent and approved within 90 days, and we will bring in the utilities and the water and the sewer to help them start their process. Knowing that PG &E and I forget which is their sewer company, they can't move that fast as 90 days, but at least starting the conversation and getting the city's approval done. And I was like, that's why they're landing the larger life science company that's going to deploy 10 ,000 people. So I'm a big advocate for embracing new technology, embracing that change. And another thought that I had on what you said, I was talking to a community development director in a mid -sized city along 880 yesterday, and he said, there's a lot of people in their town that distrust government, but they have some entrepreneurs who have great ideas, some small business owners that could expand and could benefit. And we talked a lot about how to outreach to them. And I said, you got to go to who do they trust? They do trust somebody unless they're a hermit. It might be at their church. It might be, you know, which might be in Chinese or Vietnamese or in Spanish, as well as in English. It's getting in front of who do they trust and using them as a middle partner to provide those resources. And that's not easy for government to do, especially at a time when a lot of cities are short -staffed. I like that you're at least thinking about that in panel on both of those issues, fast -tracking permits or automating systems, as well as doing that community outreach to a diverse town. Well, we're thinking about that, we being the councils that I've served on since 2018, a bit with a bit more attention to that, given that we may come from different backgrounds, not necessarily economic development ourselves. And so we rely, at least I know that I rely on the expertise of the staff, as few of them as there may be, who are there full time to bring to us as council members the current best practices, if you will, or within the trends in economic development relative to cities our size. And not only as they exist here in the Bay Area, but throughout the country, throughout the world, you know, we're not unique necessarily. We'd like to believe in some regards we are, but we're not unique when it comes to environmental issues, psychosocial issues, political issues necessarily. And so borrowing from the good lessons learned from others and doing as best as we can, given our circumstances is one approach. And also even admitting to, and I was having this conversation with someone recently, admitting to the fact that some approaches have not worked and revisiting those and being willing to do that and to discuss the possibility of seeing something in a different light. You know, getting back to the size that we are and how we're a relatively small city with the population that covers around 19 ,000 and with population increases in the next 10 years or so, not being regarded as high. And then after that, really just on a moderate level compared to other parts of the East Bay and our neighbors, San Francisco, is that we have been pretty much built out. So the constraint then is also what available land space we have. And in my opinion, my interest is absolutely necessary to balance what gets developed, whether it's commercial or housing development, with the natural amenities that exist. And it gets back to what is quality of life. And there may be different perspectives about that, but overall, and I think since we have experienced the pandemic, we have generally gotten a greater appreciation for the importance of having available to anyone. And that means public space, not private areas, but public space where families and anyone, the bodies of babies, can access and enjoy. We're fortunate that East Bay Park District is a neighbor to us and a partner to us in maintaining those open spaces. And we can avail ourselves of those and can know their number of walking trails. And I'm pleased and so happy to know that we have a creek, a watershed, that traverses the town for about 10 miles. So it's beyond the land, the land size of Pinellas, about five miles. And that creek gives character, as well as life, to the town.
Bloomberg Radio New York - Recording Feed
Monitor Show 16:00 09-26-2023 16:00
"Right now, aviation companies like Lufthansa Technik are using virtual reality training to help their mechanics practice crucial engine maintenance skills, helping them prepare for real repairs. Learn more at meta .com slash metaverse impact. Go back 230 years of history, four and a half percent on the 10 year treasury yield. That's the average. So there you go. Yeah. 200 years? That's interesting because Katie keeps bringing this up. And what's great about it is there's, I don't think there's any way for us to actually check anyone's this because data goes back 200 and something from Taylor something years here. All right, guys, we've got a lot to talk about here. I want to start off with the Dow Jones Industrial Average. It is down about 389 points, around thirty three thousand and six hundred points down about one percent here on the day, but more importantly, a close back below its 200 day moving average. The first time that that's happened for the Dow Jones Industrial Average since May. The S &P 500 lower by about sixty four points or about one and a half percent. It is close getting closer to that 200 day moving average, but we should point out it is now on the precipice of being an oversold territory when it comes to the RSI. The NASDAQ composite down more than 200 points or one point six percent. And the Russell 2000 going to finish lower on the day by about twenty three points or one point three percent. All right. Digging a little bit deeper into the big cap names, the S &P 500. We've got the S &P 500, as you said, remain broad based in terms of selling some four hundred and fifty five names to the downside. Katie, forty six to the upside to unchanged. So really a risk off day. And unless my eyes deceive me, you take a look at the industry groups. Every single one is down. We're talking about twenty four industry groups. Hopefully we'll show them soon. Every single industry in the red bear telecom was your relative best bet, but still down two tenths of a percent. And then you go down the list, some of the biggest loser, there's tech hardware.
The Hugh Hewitt Show: Highly Concentrated
A highlight from Rep. French Hill and Sen. Tom Cotton on opposing the shutdown
"Welcome back, America. I'm Hugh Hewitt, another gold bump in honor of Senator Goldbars Menendez. I'm joined by Representative French Hill from Arkansas. Representative Hill is one of the smart guys because he's on the Intel Committee. That's handpicked and the Republicans are always serious about that. He's also on foreign affairs and financial services. Our old friend John Campbell used to serve on financial services. That's one of the smart committees. So Representative Hill, welcome back. Good to have you. But you are a Vanderbilt grad, so we're not going to talk about football. Seriously, you lost to Wake Forest and the University of Las Vegas. Does that, how does that go down with the Commodore Nation? Well, it's we're always waiting for golf season. Congressman, the House is going to come up with a solution or the government's going to shut down. What's it going to be? Look, Hugh, if we want to be strong, if we want to lock in the wins that we got in the debt ceiling negotiation, when we put forward a plan that actually cut spending year over year, change the regulatory focus, encourage more people back into the workforce, we need to pass these 11 remaining appropriations bills. And that was not gotten to over the summer, even though now think about this, Hugh, even though each of those bills is written at a spending level below the debt ceiling deal and each one locks in conservative policies. It's really so frustrating to me that those have been delayed from coming to the House floor, including twice over the last week by a handful of members when they're missing this big picture. Lock in the wins, cut spending, reduce regulations, get more people back in the workforce, get the spotlight back on Joe Biden's failures and off of the House. Congressman Hill, I don't expect you to speak ill of a colleague, but I can. Congressman Gates wants to be governor of Florida. Congressman Maryland native Matt Rosendale wants to be senator from Montana. Ralph Norman, Congressman Ralph Norman wants to be senator from South Carolina. Going to run against Lindsey Graham. And Congressman Dan Bishop wants to be the attorney general of North Carolina. So I understand self -interest. Those guys have no interest in governing. But do they really want to bring down the Republican majority? Because they're going to get crushed if they do this. Right. But by this kind of of tactic, you're going to end up with a Biden Schumer clean debt ceiling deal and with spending levels, certainly at the Biden McCarthy level, but weaker policy, weaker policies. Because in order to be the strongest negotiator, get the most conservative win, we need to pass the appropriations bills. That's why McCarthy's plan this week of trying to get the rest of the bills across the floor, at least 70 percent of discretionary spending, plus plus a four week short term stopgap spending measure measure that cut spending, repeat cut spending for that one month and put border in the spotlight by putting H .R. two on. There is no conservative that should vote no on that. And this is just arguing against ourselves. It's a huge mistake. Now, Congressman Hill, I call him now St. Kevin. I've known the speaker for a long time, and now I'm going to have him nominated to be considered for sainthood because that is a difficult caucus to deal with. When you've got four members who are leading the Nuckelhead caucus and my buddy Ken Buck wants a CNN contract, there really isn't any appeal to their self -interest. How do you move them? I mean, are you going to have to use Democrat votes? And can and can Speaker McCarthy remain speaker if he uses Democrat votes? Well, I think that's what we have to try every single day to put a bill on the floor and find out that, as you say, this small group is the tyranny of the tiny, as I describe it, is violating the majority of the majority because they're going to hurt the conservative cause. They'll cause us to lose the House. And that's certainly not in the interest of the conservative cause when we're on the cusp, potentially of beating Biden in the presidential election and winning the Senate back. It's ridiculous. You know, if former President Trump gets reelected and the House switches to Democrats, they will impeach him in the first week. Do these allegedly Trump supporting congressmen. And it's Norman. It's Maryland native Matt Rosendale is running for Senate in Montana. It's Ralph Norman and it's Matt. Have they heard from the former president that he wants to be impeached again because they sure are acting like they want him impeached again? Well, look, they don't even they spend what he says now. President Trump last week said use the power of the purse to get control of Joe Biden's two trillion dollars of extra spending. I agree. That's what the debt ceiling does. And that's what these spending bills do. And that's why we have to get them across the House floor. He did not say he Trump did not say shut the government down and act like knuckleheads. He said, use the power of the purse to get the most conservative deal. Get this country back on track. I agree. That's what we could do if we had those four people assist us get these bills across the floor this week. Well, I just their their incentives are to get ink. And I mean, their incentives are not the incentives to govern. And I don't know how hot it gets in the caucus. Can you tell us that our members of the caucus about had it with these guys? There's nothing you can do because they're running for statewide office. But if they had it and expressed it. Well, I think they have had it and expressed it in blunt terms, including calling them out that if you vote against the rule on the House floor, you're working with the minority party. You're working with Democrats when you do that. That is not acting as a member of the majority. And I think you're seeing the country respond to look at Moody's comments yesterday, look at the VIX up to day three percent. Look at the 10 year Treasury rate up over four point five percent. This is going in the wrong direction when we should be taking a win right now of cutting spending 24 over 23, getting better rules and regulations in place, countering Joe Biden's bad policies. And as I say, encouraging more people back to work through our welfare reforms. These are classic conservative Republican wins. And we're squandering the opportunity. Snatching defeat from the jaws of victory is kind of a Republican specialty in the House. So let's let's focus on that for a moment. When do you get a test vote today or tomorrow on whether or not the four will move or they will stay for? They've got more than four right now, but you've got serious people like Chip Roy are not playing these games. Will the Freedom Caucus bring whatever persuasive influence they have to bear on them? Well, we're going to bring a rule. The rules committee met Friday and all day Saturday, so we'll be bringing a rule up either tonight or early in the morning. That will be the first test case to see if we can move these spending bills, which includes state and foreign operations spending, which is at one point seven billion below twenty nineteen levels.
Club 31 Pod
A highlight from Am I Ready???
"Body odor? Body odor? B .O.? At this time, you are smelly. It's impossible. So you are what you attract. Develop yourself. We are live. I'm excited. I'm excited. How is everybody doing? I don't know, but that sounded like some cartoon song. It's true. You're thinking everybody clap your hands. That's not a cartoon. What's that from a cartoon? No, no. No, it looked like it sounded like it was. Okay, whatever. It isn't, but yeah, you got me. That was it. Everybody clap your hands. Clap, clap, clap, clap, clap, clap, clap, clap, clap, clap, clap, clap, clap, clap your hands. One hop this time. Two hops this time. Boom, boom. Slide to the right. Slide to the right. Criss cross. Criss cross. We're excited, as you can tell. Welcome to the club, everybody. Welcome to the club. We welcome you to the club today with the Cupid Shuffle. That's what you heard us singing. Uh oh, yes please. Go there, girl. I love that. That was a good one. It's a good one. You're welcome to the club, y 'all. And you are met with your favorite DJs, stroke hosts, today for the episode three. Oh my gosh, episode three. Wow. Already? Hi. Oh, I have exciting news, guys. So guess who is starting with our third episode. And we honestly cannot thank you, our lovely listeners in a breath super, super grateful. Y 'all holding us down. We are literally charting with our second episode. And this is our third episode, so we know we're going to be charting even higher when we release this one. Yes. And honestly, God richly, richly, richly, richly bless each and every single one of you that have been involved, that have been sharing, listening, leaving reviews, doing all of that. God richly, richly, richly, richly bless you for that. And with that being said, we go right into it for housekeeping. We entreat you to follow our social media pages, Twitter and Instagram at clap31pod, where you are kept up to deal with every single thing that's going to be happening in the club. Also, I run the Twitter page, so Twitter is lit. Honestly, you should engage on our Twitter page. Follow us on Twitter, follow us on Instagram so that when we post, you can contribute, share your stories, engage, tell us what you think about the podcast, tell us what you think about this week's next week, the week before, the week in 10 years. We're going to be here for a while. So yes, make sure to keep leaving us reviews and sharing. Subscribe to the podcast on all the streaming platforms you're going to be listening to this on. Leave a review. If you like this week's episode, please make sure to leave a review under it so that people will know about it and people can have access to the messages as well. Don't get keep. I know this is such a lovely podcast that you'd want to get keep, but please let's not get keep. Let's share, share, share, share, share. And that's it for this week. Thank you, girl. So y 'all, this episode is going to be a continuation of episode two. We're going to be picking up from where we left off in episode two. So if you haven't been able to listen to episode two and you jumped right into this, I would admonish you to kindly go back and listen to episode two before listening to this beautiful one. So maybe a little recap of last week's episode would help us transition better into this week's. So for last week, we delved into the world of dating and pursuit and we explored different perspectives, mainly biblical examples. And we established that the woman's responsibility is not to pursue, but to be pursued. And we looked at examples from Adam and Eve and Ruth and Boaz. And we also looked at a scripture from Proverbs 18, 22, where it says he who finds a wife found a good thing and not the other way around. It doesn't say she who finds a husband. Right. And for this week, we're going to be looking specifically at Ruth and how she prepared herself to be pursued by Boaz. And last week we established that Ruth was not concerned about how she was going to get Boaz to woo her and stuff like that. She was very much focused on herself and how she could, you know, make a living for herself and for her mother in law, because we all know that Ruth was a widow and she lived with her mother in law. And she was also very hard working and she just possessed a lot of great qualities that helped her flourish as a woman. And that allowed Boaz to notice her and pursue her. And so in this episode, we're going to be delving more into this period of self -discovery and preparation. And we're going to draw on personal examples as well as what we have seen other people do and what we have learned in general in our lives. So, yes, let's delve right into it. And so we befittingly called this episode, Am I Ready? And before we get right into the episode, we'd love for our very prayerful Joanna to pray us into the episode. Wow. Isn't that beautiful? I'll take it.
Crypto Altruism Podcast
A highlight from Episode 122 - Sweat Economy - Building The Economy of Movement with Web3
"Whole industries are born when you can break a trade -off that is considered standard. In our world, the trade -off is if you want to be healthy, if you want to be active, you got to pay. You got to buy a kit, you got to get your membership, you got to do all of these things. How can you be physically active if you're not paying? Actually, because it's beneficial to you and to a lot of people, we believe that you should be paid for it because it is incredibly valuable. Welcome to the Crypto Altruism podcast, the podcast dedicated to elevating the stories of those using Web3 for good. I'm your host Drew Simon from CryptoAltruism .org. Now, before we get started, a quick disclaimer. While we may discuss specific Web3 projects or cryptocurrencies on this podcast, please do not take any of this as investment advice, and please make sure to do your own research on investment opportunities or any opportunity, including its legality. And now, let's get on to the show. Welcome and thanks so much for joining. Whole industries are born when you can break a trade -off that's considered standard. I think that bears repeating and I can't think of a better example of this than Move to Earn. For too long, exercise has seemed like more of a chore for many and a very expensive chore at that, with the pricey gym memberships, expensive equipment, you name it. With the advent of blockchain, however, there is a unique opportunity to disrupt this and transform exercise from a chore into a rewarding and income -generating activity. To dive into this, I'm excited to welcome Oleg Fomenko, co -founder of Sweat Economy, an OG in the Move to Earn space with a mission to reward movement to inspire a healthier and wealthier planet. We discuss how Web3 tools can incentivize healthy actions, the evolution of Move to Earn, onboarding hundreds of millions of users to Web3, and much more. So without further ado, please join me in welcoming Oleg to the Crypto Altruism podcast. Okay, Oleg, thank you so much for being here today on the Crypto Altruism podcast. Such a pleasure to have you. Thank you very much, Drew, for having me. Very nice to meet you, Drew. Thank you very much for having me. So excited to have you. I had mentioned this before we got on the call that I've been following it for quite a while, and I'm really fascinated by this whole Move to Earn movement that's going on and how Web3 tools can really change how we get people to be excited about wellness and making healthy life choices. So before we get there, I want to learn about your aha moment that got you excited about Crypto and Web3 in the beginning. I learned about Bitcoin in 2011 from a childhood friend who described what it was, and that definitely perked my interest. Stupid as I was, well, stupid as I am, I got really, really hooked on technology. And I read an awful lot about how it works, the white paper, the Byzantine generals problem, and just basically as much background as I could. In 2011, there wasn't an awful lot. Then I have installed BT Guild. That was the first sort of pool mining software on my old laptop and put it in the corner, and it was sort of chugging along there for about a month, and they mined a few satoshis. Well, actually quite a few satoshis, but because the price was like 20 cents, it wasn't even covering the electricity that I burned on it. And I just threw away a laptop's hard drive for quite a bit right now these days. So I got hooked on tech, and despite the low prices, I actually didn't buy an awful lot of Bitcoin back then. And I had a very interesting sort of music streaming startup back then, and I was trying to figure out how we can do something in crypto, but at best we could just accept Bitcoin payment, which was cumbersome, slow and not terribly interesting, and just handful of people even knew what it was. So opportunity represented itself in 2014 when I started talking to my co -founders about the problem of why are people not as active as they want to be? How come that I used to run some crazy distances and climbing some of the highest mountains in the world, and all of a sudden I couldn't even complete 5k. And, you know, kind of one conversation after another, we very quickly realized that the reason why 100 % of people want to be more active, but they can't, is because nature didn't build us to be active. Nature built us to survive, which means preserving calories rather than spending them. And nature was so serious about it that it gave us this behavioral feature that helped us surviving back then, but right now it's probably a behavioral bug that prevents us from being able to burn those calories called present bias that stops us from, you know, kind of moving and forces us to sit, unless there is a mammoth on the horizon that, you know, that we need to run and kill, or there is something about to make us into food and then we need to run away. And we realized that there is only one solution to present bias, instant gratification. So we kind of went, ooh, so can we actually create instant gratification for every step you take? And that's the story of Sweatcoin. As the name would suggest, we were thinking about building it on blockchain back then, but forking Bitcoin was slow, cumbersome and expensive. Building on Ethereum, we discussed with Vitalik in 2015. We met with him in London. That wasn't really an option because it was just too early. It was a research grade code back then. And we launched in 2016 centralized. And we thought, you know what, give us six months, maybe 12 months, there will be some wonderful blockchain that, you know, we're going to migrate onto. Little did we know that it would take until 2021 for blockchain to get fast enough and robust enough to be able to hold our scale. So, you know, we looked every year and we analyzed everything that was sort of popping up. And until 2021, the answer was consistently, no, we were processing more transactions per second than theoretical throughput of any chain. And in 2021, all of a sudden there was this explosion, there was Algorand, Solana, Polygon, Avalanche, BNB, well, BC back then, and Flow and Celo and, you know, kind of all of a sudden it just sort of, there was a rush of these new technologies. And we got really excited and put a team on this and analyzed more than a dozen different chains. And sort on of after spending, I think, four or five months, we made a decision that we want to build on near. And yeah, the rest is history. We launched last September and it's going incredibly well, incredibly well. I'm sure that we're going to have an opportunity to talk about some of the numbers and metrics and, you know, sort of, yeah, totally. Definitely. I mean, you've had quite many, many, many achievements and it's really grown at an incredible pace and the amount of people that you have engaging with this platform now every day. And, you know, it's good that you really took that time to kind of like, you know, think and make sure that you had the right blockchain, the right timing. And it sounds like you made a good choice there with Near. And sustainable business model as well and token economics. Yeah, for sure, for sure, which is great. And so you talked a little bit at a higher level about sweat economy, but do you mind giving an overview to our listeners of, you know, what it is, what the mission is of your organization? Sure. The mission of the regional sweat coin and that's what economy is to make the world more physically active. And, you know, it seems like it's sort of a tree -hogging mission. And the reality is it couldn't be further away from truth because we actually realized that physical activity has tangible financial value. When I say that your physical duty has value, everyone nods, like you just did right now. But if I ask how valuable it is, people kind of go, could you reframe the question? Could you use different words? I'm like, no, I don't have to. Typically, if something is valuable, it has value attached to it. And here we have something valuable, but we cannot attach any number to it. Maybe there is an opportunity there. And then we started thinking there is an interesting economy that draws parallel with physical activity. It's attention economy by some estimates attention economy now is about $7 trillion business, all the Googles, Facebooks, everything advertising related sits in there and actually quite a lot more. And the interesting parallel between physical activity and attention is that like attention, physical activity is valuable to you. You know, when you pay attention, something starts, you know, you can engage with something, you can get new idea, you can meet somebody, you can, you know, potentially entering some sort of a conversation transaction and purchase something. Very similarly, physical activity is a better physical state, it puts you into a better mental state, it extends your life. And like attention, physical activity is beneficial for a lot of other parties, a lot of other participants on the market, starting from your family that is, of course, would prefer to have you physically active rather than not because they want to enjoy your company for longer, they want you to be in a better mood. Your healthcare provider, your insurer, your employer are all interested in you being physically active and actually prepared to pay for it. Especially insurers, they know very well that your health insurance and your life insurance, if you're physically active, should be a lot cheaper because you're a lot better risk and you genuinely a lot better business for them. Now, attention economy exists and it's $7 trillion, movement economy or physical activity economy doesn't. There is absolutely nothing there. We can talk about it, we can discuss these use cases, but it doesn't exist. And then we thought, hang on a second, in order for humanity not to spend 200 years building this economy, why don't we actually think of creating a token that is tokenizing your physical activity and makes it into a liquid asset that you can exchange with other parties? That's how the concept of Sweatcoin and now Sweat was born. So coming back to your original question, Sweatcoin is our health and fitness app. Despite the name, it's actually not crypto because for eight years we couldn't operate in crypto. We got 240 million users using this application. And when we could move to Web3, to blockchain, it was too late to tell everybody, like, look, from tomorrow, it's going to be completely different game. tokenomics is going to be different. You can't do that. So we had to put out a new token that's called Sweat and it is a crypto token built on NIR. And effectively the way the two businesses work together is you choose, you either play Web3 game and you just create your crypto account and then your steps are converted into Sweat. Or as a lot of people, you know, kind of choose to, they don't opt in and then they get Sweatcoins, which is a centralized points, think of it like air miles that you can gather and you can use inside Sweatcoin, but they cannot be traded on exchanges. They are not real crypto and not as liquid as Sweat, the token. And of course, these two tokens have very, very different token economics. Sweatcoin, for every 1000 steps, you earn one Sweatcoin and Sweat is constantly demanding an increase in number of steps in order to meet next Sweat. This way, supply dynamics are a lot healthier and we have become deflationary already from the month of July. So July and August circulating supply has been slowly shrinking. Wow. Interesting. So much going on there and like incredible. First of all, with the amount of folks that you've been able to onboard the love, the idea of like offering, you know, Web3 and Web2 version, because it might just be those people that maybe aren't quite ready yet, but want to experiment a bit, want to learn about the technology first, then it gives them an easy kind of entry, you know, accessible entryway, which is great. And so you talked about the Sweat token, which is the built on the near blockchain. And that's kind of the for the Web3 version, the currency that kind of behind this whole movement economy. So you talked about that users will get this, they'll earn this from from walking, engaging in that physical activity. What can they do with these with these tokens once they actually receive them? What's the like utility of them? Yeah, no, there is there is plenty. But actually, if we take a step back, because I think in the crypto world, a lot of people are sort of obsessed with the word utility. I actually think that the more important question is, if you ask somebody, why is this token valuable? Yeah, what is the answer to that question? And I have answered to both of these questions. But I would like to start with the one that I think is more relevant in long term, why is Sweat valuable? And the reason why Sweat is valuable is because it is produced by your verified physical activity. So when you move, and if you try to cheat, it doesn't work. In fact, if somebody is trying repeatedly to kind of break into the system and you know, sort of game it, then we just disable accounts and they can never return. But if you put in genuine physical activity, so you sweat it, then we verify it. And we issue with this token that is tokenized physical activity of yours. And because of that, there is no single question in people's mind that it is valuable. It's a very, very different relationship to a string of numbers that sort of miraculously appeared out of, I don't know, nothing, airdrop, I don't know, whatever activity. And then people, majority of people, not crypto natives, but crypto curious are wondering, why does it have any value at all? Why is it not zero? And that is an extremely difficult question to answer. Now we don't have this problem. However, crypto educated or crypto informed you are, that's my physical activity. That's my sweat. That's not zero because, you know, it cannot be, you know, can I sweat it over it? Right. And this is an answer to the longterm question. So in five years, 10 years, 15 years, 20 years time, when people are going to be talking about why is sweat valuable, they're going to say, are you kidding me? It's a tokenized physical activity. How can it be zero? However, it doesn't stop there. You know, in order for us to build movement economy, in order for us to feel sweat with this meaning that it is tokenized physical activity, in order for us to establish financial, you know, kind of number or just a value to it, we need to play a game in the interim that is effectively creating utility and demand drivers for sweat. For a lot of projects, that's all they do. We do have a longterm vision that I've just described to you. The short term vision is extremely simple. You need sweat in order to participate in our kind of network in our platform, you stake sweat, and you earn interest by taking sweat, you also have access to a lot of rewards that are linked to health and fitness, well being fashion, etc. So this is an extremely engaging thing for our users, you are also earning sweat from our learn and earn. And because 90 % of our users are brand new to crypto and web3, they are seeking and are very interested in information. So what is taking? How does it work? You know, how do you transfer? How do you receive crypto? So we are building this whole ecosystem of effectively onboarding products and information, how do you become a proper crypto native? Last but not least, are a lot of functionalities that are being rolled out right now as we're ramping up for our US launch. The most exciting one is Sweat Hero. It's a free NFT game that effectively, if you engage, come in, we give you an NFT of legs. Because, you know, we're about walking and running. Yeah. And, you know, you get the NFT and you can play with other people, literally walking, I'm not going to go into mechanics, if you're interested, you can sort of go and look at it yourself in Sweat Wallet app. Or if you are in the US and you can't still use all the functionality, then you can just go on YouTube and put Sweat Hero and there are plenty of screenshots and screencasts from users that have been participating in beta testing. So you basically go into battle and the game and I battle you and I put 10 Sweat, you put 10 Sweat, the winner takes 80 % and the 20 % goes into what we call a battle fee, which is effectively a token sync that community votes on later on. And that brings me to your one of the first and earlier questions, you know, about move to earn and sustainability of the business, because we're frequently asked, you know, how are you different from, you know, kind of other projects out there? And we say, well, tens of millions of users is one thing, nine years of history and therefore ability to spend time thinking about building sustainable business and sustainable token economics. And what we are doing right now by scaling and not going into that spiral is evidence that we know how to build sustainable businesses that really function. More than that, as I already mentioned, in July and in August this year, Sweat has already become deflationary. So the sources of demand on a monthly basis are higher than emissions of token by you walking, plus all unlocks, users, team investors, and everything. So the number of tokens that hit the market is lower than the number of tokens that are extracted from the market, which in web two world would basically be definition of profitability. Yeah. Yeah, for sure. Very interesting. Yeah. So much on the go. And, you know, I love this idea as well of the Sweat Hero NFT game. I think that's a really fun way to engage people in a different way and to bring NFTs in the mix as well. You mentioned move to earn in there too. And so I know that obviously Sweat Economy kind of is a great example of that, you know, move to earn ecosystem fits within there. You know, there's, it's a pretty early stage space for sure. You know, fairly nascent, a couple projects for sure, like yours that are really growing at a rapid pace, but still very early. Where do you see things when it comes to move to earn in the future, let's say five to 10 years from now? What do you think? How do you think it'll shape, you know, the overall wellness sector in the coming years? I mean, there are several very interesting things here. One is, whole industries are born when you can break a trade -off that, you know, is considered standard. You know, for example, internet broke this trade -off where you could deliver rich message, but very few people, or you could deliver extremely poor message and extremely narrow message to a lot of people. Reach and richness was a trade -off. Internet broke that and the rest is history. You know, you can talk to individual with extremely rich message and sometimes screw with their heads as well as Cambridge Analytica has proven, right? So it's a double -edged sword, unfortunately. So in our world, the trade -off is, or if you want to be healthy, if you want to be active, you got to pay. You got to buy kit, you got to get job membership, you got to dress, you got to do all of these things. You know, how can you be physically active if you're not paying? Actually, because it's beneficial to you and to a lot of other people, we believe that you should be paid for it because it is incredibly valuable. Like in attention economy, you are given free products in exchange for your attention. Why wouldn't we be doing exactly the same thing in exchange for my physical activity? So move to earn is breaking this trade -off and I believe that it is going to become a more or less standard approach because if physical activity was only valuable to me and me alone, I would need to pay. But given that it drives an incredible amount of value for everybody, including countries, I mean, if you're physically active, you're going to be more economically active for longer. The tax revenues from you are going to be higher. It's good business. You know, even if you're looking at it in the dry light of day, obstructing yourself from taking care of people, making sure that, you know, this country is a good place for them to live. But even just in financial terms, it's good business. So this is the first thing that all the businesses in move to earn are doing, regardless if they're Ponzi or non -Ponzi actually think that it's great because businesses are reminding people that their physical activity has value. Bingo. That moves this whole idea of movement economy forward. The other trend that I see is that we need to get fewer people who are focusing on crypto natives, which is the case with a lot of other products and are focusing on mass market, because the value is not in making very, very narrow field of already reasonably rich and wealthy people more physically active. The real value to humanity is going into the lower social stratas, because that typically is where behavior change is most needed. If you look at dominant in A and B social groups, but it's starting to ramp up as you go lower down the income tail. So we need to start focusing on these people. We need to start developing propositions that are absolutely free, that are extremely simple to engage with, like what's what economy is doing. Because a lot of people are asking me, crypto, web3, what's your advice? And my simple advice is, look, we're so early, I can't even point a finger where to go. But if any of you remember internet of 96 and 97, you would remember that, I mean, there was Yahoo, right? There were very, very early businesses. None of them are really sort of dominating. And the opportunity is still there. And the opportunity number one is we still don't have an email for internet. We don't have an ubiquitous use case for web3. That email became for internet. That's what we're focusing on. Can we develop something that every single person on planet earth would be interested and benefit from if they engage with? And if you have legs, and if you can take steps, you know, you can engage with sweat economy. And I think we're on the right path there. The other thing that I would say is that if you actually look at the overall web3, and all the different tokens that exist, I see right now only three use cases or three classes of tokens that can be explained in a very simple fashion. Why on earth do they have value? Case one, Bitcoin digital gold, inflationary protection. It's capped supply. Everyone is paying attention to it. Everyone is in because of the first mover advantage. Therefore, it is playing the role of digital gold and probably is replacing gold as that inflationary protection asset. Case two, layer ones, computers securing asset ownership on the internet. Like electricity powers computers, like tokens, like ETH, like NEAR, like Avax, like MATIC. You need to have them in order for these computers to work for you and secure ownership of assets. And case three is tokenization. And here there is kind of wide range. The most simple one is tokenizing fiat currency, USDT, USDC. Basically, you are turning an asset that already exists into a token to make it more liquid, easier to transfer, easier to exchange with a lot more censorship resistance and with fewer parties being able to tell you can you or cannot you conduct this particular transaction. And there is a lot of experimentation with other assets like TDELs, for example, kind of tokenizing them. And we are pushing absolutely boundaries of that because we're not tokenizing an asset that already exists, that already has markets that can be exchanged. We're creating new asset class because as I said, everyone agrees that physical activity has value. It should have been an asset, but actually without blockchain, it cannot be turned into an asset. And we are creating new asset, new asset class, and the whole new industry that cannot be created without blockchain participating in this.
Revision Path
"10 year" Discussed on Revision Path
"Now have to try to get more sponsors again. I had to get RJ back, which thank God he came back. He came back, I was very, very, very grateful for that. But we kind of had to start over and like by this time in 2020, everybody's got a podcast. So it's not even the same landscape as when I started in 2013. Not only does everybody have a podcast, there's other black design podcasts out there that have come up after revision path. And so sponsors always want to sponsor the new thing, not the old thing. It was just a lot in 2020. And also keep in mind, summer of 2020, June, in particular, is when a lot of people got out in the streets protesting because of the murder of George Floyd, it was just a very charged time. And the thing that kept me together was focusing on the podcast. So, as the saying goes, the show must go on. So we celebrated our 350th episode that year as well as our 375th episode. I managed to get Benny F Thompson, who was the former executive director of AIGA, the first black person to hold the title in AIGA's 100 plus year history, managed to get him on the podcast. I kind of feel like AIGA owed that to me after the years I put in with them volunteer, but that's a whole other story. I published a second volume of recognized, this time we did it with a list of parts, it was a bit rough with trying to get writers then because again, pandemic, people trying to just figure out what in the world is going on. So we didn't get the same amount of feedback. Plus envision had kind of pulled their support after the first year. And so I really had to kind of try to do it out of my own pocket. And yeah, 2020 really just overall left me shell shocked. And 2021 came and then that's another big loss because the main thing of 2021 that was really something was that we had to end recognize by this time things were not getting better in terms of participation in the project from people. The pandemic just affected I think the quality of the submissions as well as the number of submissions that we received and I just had to make a hard choice to say, you know what? We're just going to pull it. I still want to bring it back one day. But I just didn't have the financial support, and I think really the community support, to be honest, to really keep it going, I do want to bring it back one day. I don't know when that will be. Sometime in the future, but that was sort of what started off 2021. Nevertheless, I persevered, revision path reached a milestone 400 episodes. We did our 400th episode with Brent Rollins. And that brings us to last year, 2022, which really has been a year of building and rebuilding. I mean, I think the major thing is that we were kind of starting to come out of the pandemic a little bit. And so at this point, companies I think we're starting to come around. We brought on a major sponsor last year with American Express. We celebrated 450 episodes back in May of last year. That was with Anthony D maze. And I partnered up with omari Sousa of the state of black design, and we created this new initiative called the tenth collective which you've heard about on the show. It's a combination job board and talent collective. We started that roughly about a year ago, like in May or June of last year. We did a great bonus episode on Wakanda forever. And it was really great to do that because our first Black Panther episode is actually one of the ones that's in the Smithsonian, so I really wanted to follow up with that. And yeah, that's how 2022 really went was just trying to kind of, you know, get our groove back, which, you know, leads us up to today. So of course, as you know, this is February we're wrapping up black history month we're wrapping up our anniversary month of revision path. And the great thing about February is 28 days of the web. This is our tenth installment of doing 28 days of the web we've been able to profile. Over 200 black designers and developers, some of them have even gone on to be guests on the show, which has been a really great thing. Our 500th episode is going to be dropping on April 24th. I'm going to be talking with the one and only AIGA medalist overall design, historian, and legend doctor Cheryl D Miller, make sure you tune in for that. That's going to be a really great conversation. Also, I am working on a book project. I am working on a book with the venerable Gale Anderson and the just design godmother herself, Michelle Washington. We are writing a book together for Princeton architectural press. We're calling it, I didn't know they were black. Really excited about it. I'll be able to talk more about what the book is about, you know, in the coming months, but it's essentially going to be an expansive history of black folks in design, from the 1900s to now. I'm really excited about it. It's a lot of work. We've actually been kind of working on the project on and off for several years now, but it's finally got some steam behind it and you know, Gayle has mentioned the book. Michelle has mentioned the book. I've mentioned the book. I actually first mentioned it back in October. When I spoke at design thinkers in Toronto, so we are working on the book. It should be coming out. You know what I'm not going to say when it's coming out because we're still working on it. It'll come out in the future. Most likely 2020 5, I would imagine. Don't hold me to that, but I just want you to know we are working on a book. And what I'm really excited about, super excited about this, up in the coming months, you can be on the lookout for our new subscription service revision path plus. Super excited about this. This is going to be a way for you to get early access to episodes, exclusive bonus content, discounts on design goods and services, exclusive giveaways, super excited about this. I'll have more information about that in the coming months, but I'm really excited to get that out there for you all to really find the way to support revision path while also just getting more out of the platform. And you know for the future after that, who knows? I mean, we've been doing this now for ten years, who knows what the future will be. I'll tell you what the future is not going to bring. This is not going to bring me joining another network. I can tell you that. But I have to say, you know, ten years of doing revision path has taught me a lot. You know, for black people, merely celebrating ourselves is an act of defiance. You know, whether it's getting shunned by design peers, whether it's getting sabotaged, by partners, et cetera, you know, revision path
Revision Path
"10 year" Discussed on Revision Path
"Totally separate project from revision path. So with glitch that was like strike two strike one was the event and then mad that the 300th episode event didn't bring in users and then strike two was, oh, you're doing this literary anthology. Why doesn't it have to do with glitch? Glitch is a software tool for software developers to make software. What does design commentary have to do with that? And I understand, you know, at the time, because I was on the marketing team, glitch really wanted to be part of that sort of maker culture. I get that, but this had nothing to do with revision path. The name revision path was nowhere in recognize. It was something completely different. So later in the year, which happened to be strike three from glitch, was when the Smithsonian's national museum of African American history and culture added a selection of 11 revision path episodes to their permanent collection. Making revision path the first podcast ever to receive that honor. And I was excited that it came out in fast company, a few outlets picked it up, no black outlets picked it up. I should mention, I was working with a PR company at the time, and I mean, we pitched ebony. We pitched that since we pitched the roots. The only black outlet that picked it up was blavity and they picked it up from MSN, which is who we also pitched. That's a whole other story. About black media, but the next day at work. Glitches chief operating officer at the time. Gave me just the most unprofessional dressing down that I had ever gotten in my career. This is the day after I got this huge honor, right? Which not only further, I think, you know, sabotage, revision path in the eyes of glitch, but also further sabotaged my job at the company. He said this, I'll never forget this, he said, you just want to celebrate you and your own, don't you? You just want to take your ball and go home. And so once I saw the game that glitch was playing, I decided to do just that. Take my ball, take my show. And put it back under my control 100%. Because glitch and license to show for me, we had a licensing agreement signed in place, their legal counsel looked over and my lawyer looked over it. But they were using revision paths accolade and my hard work to prop up their brand and meanwhile, I'm getting the shaft. At worse still, because of the show's then association with glitch, we lost pretty much every major sponsor we had, Google was out, Facebook was out. Facebook was out because the CEO was talking a lot of smack about Mark Zuckerberg and as you can imagine, that didn't go over well with them wanted to give us any money. So you can't be bad mouthing your sponsors and think they're still going to pay you. So we lost pretty much every major sponsor we had. Glitch wanted to turn that sponsorship money into revenue for the company because we had like a sponsorship business development, team, but they were not getting sponsors for the show. Nobody wanted to sponsor the show. And so the revenue that was keeping revision path going was basically my fucking salary. And at this point is the third strike at the company because the other thing that happened after the Smithsonian thing, my title gets stripped at glitch. I'm sort of titleless for a few months. My team gets dissolved, so they're wondering what's going on. I'm wondering what's going on. And then they bring in like a dude VP of marketing and then the company tries to pit the VP of marketing against myself like we're enemies and I'm like, I don't know her. She doesn't know me. We ended up being very good friends, shout out to Alexa. It was just a weird environment. And like, I don't know how I ended up in this place, but I had to get out. So 2020 came and the main thing that I did that year was get my lawyer to get us out of this contract. Like, this is not working out. I thought this was going to be a good thing. This is not working out. And I want out. And so I had to get legal counsel involved to help extricate glitch from revision path because now this association was seriously tarnishing the brand of the platform. It took a while to happen. It took some back and forth. We did make it happen we ended up pulling everything from glitch and putting it back under the revision path dot com domain. Some of those episodes still need to be cleaned up because I think they still have some of the glitch name and all that stuff under it, but we have to pull everything at to do redirects all bunch of stuff. One thing that I wanted to do to set it apart was change the brand so I did a redesign of the logo. I did a refresh of the website. And you know, since I was still working at glitch, and you know, it's a tech startup, tech startups have generous unlimited time off. I said, look, let me use this unlimited PTO and take revision path on the road and go on tour. And so I had talked to a couple of people in some cities with AIGA chapters about programming. If I could come to their city, do a night with a live recording if they would be up for it. And a lot of cities were up for it. So we at the beginning of 2020 had planned to do a 7 city tour, Los Angeles Seattle, Houston, Kansas City, Missouri, Chicago, D.C., and New York. You'll notice I skipped Atlanta, fuck AIGA Atlanta, but that's a whole other story. But we plan on doing a 7 city tour. And the first stop was in Los Angeles, we did our first show there in February 2020, shout out to AIGA Los Angeles. We did this part of their LA river series. We did it in leimert park. On February 10th, and it was a standing room only event. I remember after that I had dinner with Lacey Jordan, Jacinda walker, and Dave hall, all who have been on the show before. It was great. It was great. So we had the first city out of the way. I was all set to continue the tour. And then coronavirus. Coronavirus came and what like march of 2020 and brought the tour to a screeching halt. So doing any of the other cities just wasn't in the cards. You know, in terms of like trying to get on a plane or anything, I didn't want to do virtual events. Because also like I was trying to figure out how this was going to work with my job, even though glitches remote first, you know, that just threw a whole lot of plans out of order because we had planned to go to south by Southwest in August, we didn't know if south by Southwest was going to cancel their events. If you remember those first few months of the pandemic, from March to May or June of 2020, pandemonium. You didn't know what was going on. And then just a few months after the pandemic had started, glitch dropped the hammer and laid me off. And they laid off my whole media production team, so I'm out of a job, TK is out of a job, Deanna's out of a job, Brits out of a job, margaritas out of a job. Most of the marketing team out of a job. And so all this is happening and I just have to try to find a way to still keep the show going. So if you listen to the show in 2020 during that time, I don't know if you could tell how like, I don't even know what the feeling is that I had during that time it was confusion. It was anger. It was sadness. It was my first time being laid off, so it wasn't that. It was just like, I still got to keep the show going. And now that I sort of pulled everything away from glitch, I almost felt like I had to start over like 2020 was like a year of me trying to really start things over because
Revision Path
"10 year" Discussed on Revision Path
"Of her vision paths biggest honors to date. We hit 300 episodes, and I had a chance to interview production designer Hannah beachler, who did production design on both Black Panther and Black Panther Wakanda forever. She also did production design, work for Beyoncé, also worked with Ryan coogler and creed as well. It's really a big get to have Hannah on the show. I've been an admirer of her work for a very long time, and for her to be our 300th episode was great. Along with 300 episodes, we threw a live event. This one was in New York City at the green space, which was a famous institution in podcasting and public radio. And with that event, we had Gail Anderson and cat small as panelists. We were supposed to have, he got sick, and so he couldn't make it. And that was really like a lovely event. On the surface. So joining the glitch media network was a bad idea. I can say this in hindsight now. It was a bad idea for a few reasons. One, it tied the success of the show, unfortunately, to my employer. Now granted, I put a licensing agreement in place whereby glitch only license the episodes. From me they didn't own them, they own no sort of intellectual property or anything like that. And I made sure went over with the lawyer and everything. They only licensed the show. What ended up happening though was because I was using company resources with the show, that meant like the team that I had in place with RJ, the website that I had been doing since 2013, all of this now had to come under glitch. So we had to change up the format of the website and put it under glitches domain. I think it was glitch dot com slash revision path. We had a redirect, so all of the revision path dot com stuff wouldn't break, but we had to use their design. The design was not great. It was using this old version of ghost, and so we couldn't do the same types of just like basic design stuff that we would do with WordPress like I couldn't do it on ghost. I did have to hire a team. And I have to say, shout out to my team, TK du test, Deanna testa, margarita noriega, and Brittany Brown. I hired all of them as my team, for women of color. Well, three women of color and Deanna, she's white. But hire these four women and I mean, they really held me down and held revision path down for the roughly about a year and a half that they were working on the actual podcast. If you listen to any of those episodes around the like, I'd say like two 90 to three 20 Mark, you'll hear glitch media network, you'll hear Deanna Tesla, you'll hear Britney Brown, TK was doing a bunch of stuff behind the scenes. But yeah, we have to basically like shift all of the production stuff internally along with what I was doing for my job. I was now doing the podcast as part of my 9 to 5 job. And it just killed the momentum that we had built that I had built really over the past 6 years leading up to it to join this network that unfortunately was not helping us. One of the other things that was really bad is that when we joined glitch and sort of hit our wagon to them, unfortunately, members of glitch, other people that worked there like the finance director. The chief operating officer, et cetera, started to tie the show's success to the company's success, and so things that we did for the show all of a sudden now had to have some sort of like net positive benefit for the company for the company's user base, et cetera, which was not part of the licensing agreement. Like, you all are just licensing the show as part of your network, and we were developing other shows, we were developing videos, et cetera. None of those panned out. But we were doing other stuff. And the problem that happened was that the company just kept kind of shooting everything down. They kept making excuses for why certain things couldn't get done. Even for the event that we did, it went off without a hitch, but me and Deanna and TK and Britt were like the main ones that had to pull it off. If you're in New York City and I don't know if the Trader Joe's is still open, but there's like a Trader Joe's. I think in Union Square or near Union Square that sells wine and alcohol, me and TK and Brit crossing four lanes of traffic getting wine for the event and stuff like that. We had to basically run all of that ourselves. Deanna did and Brit, I think both did principal photography and video for that night. So on the surface, everything looked great. Behind the scenes, it was a huge mess. You know, and then all of a sudden I'm getting emails about why are we spending thousands of dollars on an event like this and it's not translating to users of glitch and all this sort of stuff. And it was really sort of taking a toll on the brand value that I had built up with revision path one because we had hitched our wagon to glitch within two because we had changed things visually so drastically. That it just the audience did not respond to it well. We had some good things that came from it and you know, I think just sort of the increased awareness throughout the tech community was a good thing. But there were some other things that happened later on in the year with glitch that inevitably made me want to take my ball and go home and you'll see what I mean when I say that a little bit later. So even though these things were going on, revision path still continued to grow. We expanded on to Pandora, we became part of their podcast offerings. Fresh off of the high of me winning the Stephen Heller award, I started a project called recognize, which is a design anthology that featured essays and commentary from indigenous people and people of color. Who I was calling the next generation of emerging design voices. I really wanted to capitalize off of that Steven Heller prize when following his footsteps of discovering new design voices, and we received a grant from envisions future forward fund to launch the anthology and envision published the first volume of articles on inside design, which was their kind of online publication that reaches I think like millions of designers every month. Glitch was not happy about that. The glitch was wondering why isn't this being published on glitch? And I'm like, well, this has nothing to do with the podcast. This is something different. This is a different project. But they felt like it should have been under a glitch media imprint, and I was not thinking about that at all.
Revision Path
"10 year" Discussed on Revision Path
"Do another event in Atlanta. The bad thing about that event and I'll be completely honest, that was really just a Facebook event. It was not a revision path event. It was a Facebook event with her vision pass logo kind of slapped on the poster. Facebook really tightly controlled the guest list. You had to, and I didn't like this at all. You had to submit your resume. In order to be considered to be invited, it's like, I couldn't even invite people that I had on the show because Facebook wanted to see their resume to see if they were hire able by Facebook in order to come to this event. They were treating it as a recruitment event. I was treating it as my first podcast event. And those two things just did not mesh well. Which was very unfortunate. That was the first and last event that we did with Facebook design because that really was not I was not satisfied with how that whole thing went. We did end up attracting more sponsors. We attracted site ground, Google. It came on as a sponsor, which was really big. We also attracted the attention of a New York City based startup called glitch, and by the end of the year, I was working at glitch. They extended an offer to me, which at the time the company was called fall creek software, they became glitch in 2018. But that was a very interesting time because now my work was not only being recognized by these companies, but it was actually changing my livelihood. So 2018 was another growth year for revision path. We expanded onto two major platforms that year, Spotify, and iHeartRadio, Spotify used to be invited only for their podcasts back then. Now I think anybody with a Spotify account can create a podcast and it's listed there, but it was a big deal to be on Spotify. Back in 2018. Apple podcasts have included us again in their black history month campaign. I got a chance to talk about revision path and Switzerland as part of the Swiss design network summit. That was pretty interesting back in March of 2018. And in April of 2018, I received a personal honor, but I really attributed to revision path, like I don't think I would have gotten this if I would not have done revision path, but in 2018, AIGA awarded me the Steven Heller prize for cultural commentary. Making me the first black person to win it, and the only black male so far to achieve the honor, so. You gotta put that out there. And what it says on the award is for being a renaissance talent who works seamlessly across cultural domains, editorial lines, and multiple forms of media. For being the definitive leader in bringing black designers to the public, earning you a permanent place in the history of design, design equity, and social justice. Huge, huge honor, I got to meet Stephen Heller himself, as well as many other famous designers. That was really something. Like going to the AIG awards gala, I rented a tux. It was a great night. It was a really great night. I reached 250 episodes that year, we interviewed Julian Alexander for that episode. We worked with Adobe for world interaction design day. And I brought on three more writers to help kind of keep the blog going. We brought on Dwight hill, Katie sneak, Jensen, and sala Lewis, who was also on the podcast, they wrote some really great pieces, including a tribute to the late doctor Samoa Lewis, who was the first black woman to receive a PhD in art history, and we also did this really great oral history piece on the organization of black designers. You know, a lot of the work that I do with revision path and I would say a lot of diversity and inclusion work, particularly done by black people in design, is really built on the work that the organization of black designers put forth years and years and years ago. So I really wanted to pay homage to them and give an oral history about the organization. Because I don't think a lot of black designers now even know about it, and so I felt like it was a good idea to really shine a light on that. And also by the end of that year, we joined a podcast network. So remember, I had joined glitch. I was working at glitch. They decided they wanted to create a media network, and they wanted revision path to be the first show on that network to sort of headline it. And so if you look at any episodes, I want to say through all of 2019, you'll hear glitch mentions or you'll see like a little glitch fish like these two pink and green fish, somewhere in the show notes or something like that. That was part of not my condition to work there, but I thought this would be like a big extension of the brands. Turns out that was
Revision Path
"10 year" Discussed on Revision Path
"Where there's like two weeks, go back and listen to those episodes. I know I talked to Gus Granger, Erika Joyce, some other folks, Daryl crooks, who now is a creative director at Apple. Go back and listen to those episodes because I don't know if they really got a lot of love when they first came out because I was trying to do two a week. Revision path also won its first award that year, which was the most inspiring design podcast award, and that came from creative markets. And we beat out some massive shows for that award. We beat out 99% invisible. We beat out design matters with Debbie millman, who beat out adventures in design. So that was really something. They messed up the logo, like they messed up the logo in their little announcement, but it was pretty cool to get that. They even sent me a 3D printed metal, which I have it's a my trophy case. And the living room, but I thought that was pretty cool to get. 2016 was big. Like I started with the capital and the recognition from 2015 and I really made some big additions to revision path. You know, I always wanted to have articles that published between podcast episodes again, this is sort of harkening back to the online magazine days of revision path. And so I brought on a staff of 5 writers, thelma balama, DV Jaffa, AJ Springer, Charlie Jones, and Tammy danan, so they came on and wrote some just really great articles. And the thing about the articles was that they really added more context to revision path between the interviews, so I could actually handle and talk about topical subjects between these profiles every week. We did a piece about black celebrities being creative directors, we did this series called student perspectives where we talked to black design, students, at institutions of higher learning, we would ask questions like our HBCUs preparing the next generation of black designers, we'd ask, is it possible for black designers to be weird and do weird and crazy stunts and still be taken seriously and that was in the vein of like a Steven sagmeister or a Jessica Walsh or something. Could a black designer pull those kinds of stunts and still be taken seriously? We talked about using design to promote activism in the wake of the murders of Trayvon Martin and Mike Brown. We did a three part series on tech in Africa, which focused on Sudan, Algeria and the Democratic Republic of Congo. We tackled the absence of black glamour in merchandising like makeup or other lifestyle brands. We did some really great pieces that year started off. I was super proud of revision path because we were still doing the interviews but they were also doing these just really great long form pieces that I wish in the future I want to find a way to really give those a lot more shine, but we did some great work back then in 2016. I also presented the where the black designers presentation again in 2016. I did it at how design live, which happened to be in Atlanta for that year. And that was a bit of a full circle moment because it was that same venue where the conference was at, that I started my professional design career. In 2005, so it was like this really great full circle moment, also got to see some old coworkers who were still there who were now looking at me crazy because they treated me one way when I worked there and now I'm like a guest and a speaker so they have to treat me another way that was. That was fun. 2016 is also when we launched our job boards or our job boards been around for 7 years. A lot of companies had kept contacting revision path telling us about, you know, listings that were available and if they could share them with our network and I was like, I could do a job board and then turn those requests into revenue for the site, which is really what's helped keep the site going over the past few years. We launched a slack community. The slack community even had events like we had these ask me anything events where you could talk to former guests, ask them more questions, et cetera we hit a 150 episodes that year, and I got to interview Ashley axios, who was the creative director for the Obama White House? And remember Facebook design had sort of hit us up, you know, back in 2015. They then kind of took their support and really codified it by becoming a sponsor then. So they were our biggest sponsor to date through massive financial support behind the show. They even flew me out to their headquarters in Menlo Park. I got to record some interviews while I was out there. I met Mark Zuckerberg. I even closed out their design lecture series for the year. With a talk called black design matters. We started getting more shout outs on social media like on Twitter and Instagram. We expanded our merch, which initially was only available through our Patreon community to be sort of opened up our merch shop. So people could buy shirts and stuff. We kept going with our kwanzaa graphics, which, you know, if you remember 2016, that was a very contentious time with like the Olympics, prince died that year, that was also the year of that very contentious presidential election. What Trump got elected? So our graphics back then really reflected the state of what was going on in the country then. So once we had our big sponsors on deck, revision pass started expanding even more in 2017. Apple podcasts included revision path in their black history month podcast campaign that was called the black experience. We hit 200 episodes. I brought Sarah honey young back on the show and interviewed her again. And you know, with Facebook as our sponsor, we threw our first event. With them. So we did it here in Atlanta. We had a panel, Carla Cole, and toy hargrove, who had both been on the show before, were on that panel. He and spalter was on that panel who's the head of Instagram, Japan. Facebook brought the swag. They catered it. And it was great for what it was, like people still ask me if we're going to
Revision Path
"10 year" Discussed on Revision Path
"So 2015 really kicked things off for provision path and some interesting ways. First off, you know, a lot of that outreach that I was doing the year before to like design media and to other design podcasts and stuff like that. Started getting noticed by design organizations, one of them being AIGA, who reached out to me to join their diversity and inclusion task force. Now, I joined after interviewing Antoinette Carol who was one of the co chairs of the diversity and inclusion task force at the time, and I had been skittish about AIGA. I had my own run ins with the local AIGA Atlanta chapter and just didn't really feel that positive about the organization as a whole because of how exclusionary they were. But you know, after talking to answer that and telling me about what they were trying to accomplish, I said, you know what? This might actually be good for me, especially with revision path, like this could be a good thing. And so I joined the task force to try to really help advocate for people of color in the design community. And through the task force, I pitched a talk for south by Southwest, based on a question that I was hearing from a lot of companies and agencies and things that were writing to revision paths. And that question was, where are the black designers? I got a whole lot of I got a whole lot of people asking that question. And so I figured why not make a talk about this so I could answer the question because to me the question is obvious, like if you look at revision path, clearly the black designers have always been here. You just haven't seen them. The U of course being the people that are asking that question. And if you know anything about south by Southwest, the way that the whole process goes, it's a hot ticket to get to speak there, especially if you pitch your own panel means you have to get people to vote for it. And then the internal group and south by Southwest has to decide if it goes along with the programming, and then because it's such a hot ticket, getting a plane ticket there is expensive, getting a hotel is expensive, the actual registration is covered if you do the panel, but like it's not a paid speaking gig. If anything you pay, a lot of money to go there and speak. And so I was doing this through AIGA and where are the black designers will included in like the last mention of panels that they were going to do for the event in January of 2015. South by Southwest normally takes place like two weeks in March. And so I knew by that time that it was going to be really hard to even get there because I was like, I'm not making that much money through my studio to just pick up and go for a week to do this and so I created a GoFundMe campaign in order to raise money. I raised $2000 to go to south by Southwest AIGA did pay for half of that and I went and I gave my talk. And now another thing about south by Southwest, if you've been, the way that they do all of the diversity programming, they put it in the furthest highest room in the Austin convention center, which is 9 ABC. They may have changed this, but at the time that's where all of the quote unquote diversity talks were. And so my talk was all the way back there, it was later in the day I remember it was on a Friday. And it was not very well attended. The room next to me there was a keynote speaker, I think it was Jimmy Kimmel. And of course, his, you know, the English standing room only because he's a celebrity. He's on late night television, et cetera I'm just me. And so my room was almost like a bit of an overflow room, like there were people who ducked in just so they could charge their phone. There were people that were asleep in the crowd or whatever. And I say crowd, there were roughly maybe about 15 or 20 people in a room that would normally fit about 250 folks. So not a lot of people. Very sparsely attended when I first gave this talk. But of the people that were there, one of them being forced young who I've had on the show before forest is, I forget his title, but he works at rivian, the E vehicle company. He used to be the former global creative director at wolf olins. There were some other folks there I don't remember. I know there was someone from Pinterest, someone from Dell, someone from Facebook. And Facebook actually invited me to their house that they had there for south by southwest. I got to meet some Facebook people. Facebook at that time, again, 2015, was really excited about the work that I was doing, the Facebook design organization that they had that at the time was headed up by John lax. I mean, they really were excited about what I was doing and wanted to try to find a way. To support what I was doing. And so, I left south by Southwest kind of feeling pretty good that, you know, the message of what I was doing with revision path was really getting out there. After south by Southwest, it felt like a light switch turned on because people finally started to see revision path and see the work that I was doing and see the people who were being recognized. We picked up some more sponsors that year, we picked up hover, creative markets, job well, which is this company created by Ryan Carter and Porter braswell, I believe other names. Orion's been on the show before, actually. We started a Patreon community, and this was in like Patreon's super early days. The platform did not have a lot of podcasters or content creators. Well, it had content creators mostly video folks, but not a lot of podcasters, not a lot of people of color, I would say overall. But we wanted to do this as a way to kind of bring in revenue, but also with an added benefit of building a community and providing them with exclusive content, merch, things like that. If you follow revision path from those early days, Patreon was maybe like the third platform that we had tried to do this sort of thing with. We did it with tugboat yards. Back in 20 14, I think, and then they got acquired by Facebook and then we did it with another company called slice, I think, and then they pivoted to gaming mods and then Patreon was like the third thing that we tried to do. We hit a hundred episodes that year, I was able to interview one of my all time favorite designers who was such a huge, huge inspiration to me, Sarah honey young. We received an unexpected windfall of donations from an organization called fund club. Each month fund club picks a project or an initiative or something that's supporting social justice and tech, and each member of fun club gives a $100 to it. So the more that people join every month, like the bigger the donation is, and so we received over $8000 in donations from fun club, which was amazing. I was really excited about the fact that we were having this kind of buzz in the design community, and so I tried to expand the show to do two episodes a week. We did episodes on Mondays and Thursdays. That didn't last long. It was a fun experiment, but I don't think that the episodes really got a chance to breathe because of that. So if you go back to November and December of 2015
Revision Path
"10 year" Discussed on Revision Path
"Was also when we got our first major sponsor, MailChimp. I have been working with MailChimp in a professional capacity through my design studio, probably since about 2010, I think? And they were just known here in Atlanta. They're like, they were like the hometown hero of startup tech companies. I knew a lot of people who worked there. I had been to MailChimp. I had MailChimp swag in my apartments. So what I told them about what I was trying to do, they were really enthusiastic about it, and they became our first sponsor. 2014 was also the year that I brought on an editor to revision path who was RJ basilio. He's probably edited, I don't know, well over 400 episodes of the show. He has been extremely integral to the show's success, so shout out to him. And I acquired a site during all this somehow. Episode 20 7 is with sayida mitchum. And cite a mitchum had a site called inspiring black designers, and she was doing a similar thing to what revision path was she was interviewing black designers, showcasing the work that they were doing. Her and I connected, I told her about what I was doing with her vision path. We had some conversations and she wanted me to acquire her sight and then she came on as like the first revision path staff member. After RJ, but like that someone that was actually creating content. So we had an ask sayida, advice column for designers that we did for a couple of years. She also wrote a couple of pieces for the site because we had a blog. We were also trying to do basically long form pieces between the podcast episodes. And with that, I was able to also bring on some interns to help out with that. I brought on Eric, Rashida and Stephanie, as my interns, they helped out with marketing, they helped out with writing, they helped out with publicity. And revision path really started to gain steam once I had like a little crew, you know, working with me. And so in the spirit of community, I started to do outreach to the rest of the design, I would say the design, media community, like podcast, websites, et cetera. I reached out to them to try to see if there was a way that they could either profile revision paths or I could talk about it or I could even introduce some of the people that I was profiling on their platforms, right? And so I reached out to podcast networks I remember specifically reaching out to Dan Benjamin of 5 by 5 and just getting the silent treatment like never getting a response from him. I tried to get guest spots on the design podcast, I would pitch myself, like I said, I would pitch guests that I had on the show. And many of them never responded. The ones that did respond usually did so negatively. Telling me that they don't talk about race so that what I was doing was racist. I remember specifically dorm room tycoon was a site that was pretty popular. I don't know if it's still popular, but it was popular back then. And I had reached out to them about, you know, again, possible guest spot or interviews or something like that. And the guy who runs it is a black designer, his name is William channer. This black British guy, and I remember reaching out to him and telling him about what I was doing, we had a Skype call about it, and he explicitly told me like, you know, we don't do that race shit. We don't touch that. We don't do that race shit. If you want to do that racial shit, that's fine. We don't do that. And I was like, oh, okay. And I never reached out, never reached out again about that because that was kind of jarring, especially hearing it from another black person doing something very similar to what I was doing. Was kind of like, wow, it's like that. Okay. I would get harassing emails. I would get harassing tweets. People would tweet about how revision path is like a racist project, I would get calls to my business to try to get me fired, which is weird because I
Revision Path
"10 year" Discussed on Revision Path
"Celebrate and recognize because, you know, I was inspired by these people. I was a working black designer. I had my own firm. I wanted to showcase the work that we were doing. And so I just started reaching out to strangers since my friend said no. Most of these people are my Friends anymore, but I started reaching out to strangers and, you know, that's kind of what the first few people that had come on revision path, and these were people I did not know, I reached out completely blindly. They had no idea who I was. I was nobody, you know? Just saying, hey, would you like to do this? Can I interview you for this website that I have where I'm trying to celebrate black designers, right? And I did that for a few months when I started and then someone reached out to me. And I want to say it was like May or June of 2013, someone reached out to me her name was Raquel Rodriguez. She was a queer Afro Latin designer from Chicago. She wanted to be on revision path and she told me that she was going to be down in Atlanta and wanted to record our interview as a podcast because she was a podcaster. She had a podcast that she did in Chicago. And I was like, yeah, sure, we could do that. Now, I didn't have any podcasts here. I didn't have a mic, I didn't have anything. But I did have a mobile phone with a microphone and an audio recorder. It was the first Google phone, the one from T mobile with the little track ball and the flip up screen. And that's how the first episode of revision path was recorded. We went to one eared stag and inman park and sat in one of the back boots and recorded it. Now, I still keep that audio up even though the quality is terrible. I have tried to salvage it over the years, it's a lost cause, but I keep it up to show that you don't have to start from perfect. Like start where you are and just like build and iterate from there. And you know, speaking of not starting from perfect, you have to talk about one of the interviews that I that I managed to land, which was with Emory Douglas. Emory Douglas is the former minister of culture for the Black Panther Party. He's also an AIGA medalist. And I saw his designs are just like browsing the web is designed. I saw they were being licensed on skateboard decks. From a skate shop in Oakland, and I reached out to them, I asked if they could put me in contact with him and it turns out that the guy who ran the skate shop was a family member of his, and so he put me in touch with him, and then like on a Sunday afternoon, we had a phone call, I recorded the interview using Google Voice. And the rest was history. So when I started recording interviews with guests, I was giving them the option to either do an email interview or to record. Keep in mind, 2013, people were not really, I would say the general public did not know about podcasting or was podcasting in the way that they are doing now. Like even access to the gear, like microphones and such just wasn't really as commonplace as it is now. And most people were still choosing to do email interviews, although a couple would want to record and so when that happened, I would record those interviews, I would publish those interviews. But I didn't do it as like a submitted podcast. You basically still had to go to revision path. And just see it like on the website. There was no way you could really subscribe to it because I wasn't even calling it a podcast back then. And I wanted to kind of do other things with revision path to bring more of that magazine feel to the platform. And so there were two things that I started to do in 2013. One was the holiday gift guide, which I do every year, and that's just like a list of products some of them are from black designers or some of them are just cool things that I liked that I think other people would like. And I would do that, you know, kind of put that list together every year. Also, most of those things are affiliate links so it was kind of a way to bring in some revenue for hosting costs and stuff. I also created a series of social media graphics around the 7 principles of kwanzaa. But I was tying those principles to current modern day things. So I remember the first year like for, which is cooperative economics, collective economic sorry. There was a picture of Oprah, but was rendered like the supreme logo. Kumba, which means creativity. That was stylized like Beyoncé's self titled album that came out that year. Nia, which means purpose was associated with Nelson Mandela, who passed away that year, so I always tried to sort of tie it into what was going on in the zeitgeist with these graphics. 2014 came along and with revision paths starting to get some attention, I launched a new project connected to it, which was a sister site called 28 days of the web. Now 20 days of the web features a different web designer, graphic designer, or web developer, every day for the month of February, in conjunction with and celebration of black history month. And for leap years I'd add an additional person. And so I wanted to do this one because the first year that I started revision path, I started it at the end of February. So I didn't really do anything for black history month when I started revision path because it started during black history month. And so because of that, when I would tell people about it, they've thought it was like a glorified black history project. Or at least that's how they would treat it that's how they would talk about it. But what I also really wanted to show was that if I could find 28 black designers 14 men 14 women, showcased them alongside revision path and really kind of give a bit of a middle finger to design media, specifically, that if I can do this as one person, then why can't you do it with your mastheads full of staff? You know, full of staff writers and things of that nature. Like, how am I able to do it as one person, and you can't do it as a team of ten or 20, right? So that's kind of, I guess, a little bit of the reasoning behind why I wanted to do 28 days of the web. And it's taken off. I mean, we just had our tenth installment of 28 days of the web this year, we've showcased well over 200 people. All of the information that I use to put those together is publicly available, you know, there's their photo, they're social media and everything, all of that is all provided by them, so none of it is stuff that I'm creating, so that's an even better part about it. Also, in 2014, I redesigned the site, site got a much needed redesign. And we started to do more international interviews. In 2013, I think I only did like one international interview. That was episode 6. With makoko, McCoy, mokana Ana, was his name. But I was able to interview some other international folks. I remember that year, I interviewed Kevin caron, who was episode 24, who's a designer out of Nairobi Kenya. And also speaking of which 2014, march of 2014 is sort of technically when the podcast began. And when I launched it, I launched it, I had 15 episodes that I had already recorded. Again, when I was asking guests if they wanted to do email or record, some would record. So I kept those as episodes, and so when I launched officially in march of 2014, we launched with 15 episodes. Episode 16, which kicked off the weekly cadence is with Alicia Randolph. And so that's kind of where the podcast was born from. 2014
Revision Path
"10 year" Discussed on Revision Path
"Go through ten years of revision path, I first have to talk about the first big project that I put on for the web, called the black weblog awards. I started those in 2005 and the Internet as well as design on the Internet was just in its really super early stages. We're talking pre CSS, people were still doing, you know, websites with tables and stuff like that. And I created the black weblog awards because there were other online awards events that celebrated bloggers, but I never saw any black nominees I never saw any black winners. And I wanted to do something to celebrate us because I was a part of that scene. And I knew bloggers, I knew video bloggers, I knew audio bloggers, which we now call podcasters. I knew they were doing some great stuff out there and nobody was recognizing them. And so I felt like we needed to be recognized for what we were doing online and I wanted to put an event together that sort of celebrated that. The first year was a really big success. So much so that in the second year that I did it in 2006, I like greatly expanded the whole scope of it, including a bunch of new categories. And one of the new categories I created was called best blog design. And that was my way of showcasing black designers who I knew were making these really like fantastic creative blog layouts with movable type with B two, which we now know as WordPress. Just like some really great work blog spot blogs, et cetera. And again, no recognition from the greater design community, not in design media or anything. And so that category was really where the seeds for revision paths started way back in 2006. I remember that year, the finalists were concrete loop, shout out to angel laws who created concrete loop, on the park, and Zillow says. That's going to be a little bit important in a bit. So the black weblog awards was really picking up. And I wanted when I said I did this category back in 2006. I wanted to do something around black designers then, but I just didn't have time. I was working full time. I was in graduate school full time, and I was doing the black weblog awards kind of on the side during the summer, but then that grew to become something I needed to work on. All year round. And the black weblog awards really, really, really took off. I mean, it got national attention from outlets like NPR, The Washington Post, and this was also like right around the time that Obama was running for president. And all that sort of inspiration about like black excellence and all that stuff really inspired me. So in 2008, I quit my job, I started my studio, which back then was called three 18 media. Now it's called lunch. And basically what I wanted to do with my studio was just focus on building a business and having a roster of reliable clients. And so again, I'm doing this while I'm doing the black weblog awards. I eventually sold the black weblog awards back in 2011. I sold it to Gina Macaulay of what about our daughter's fame. She also was the person who created the blogging while Brown conference. Sold it to her, she kept it running, I think, till 20 17, I want to say? But because I was in my studio and I was, you know, really trying to establish myself for having my business, you know. I sort of didn't really even think about wanting to start up something like revision path until roughly about 5 years later, and that was in 2013. So again, the seed for it was planted back in 2006. With that category in the black weblog awards, and it just like silently grew for 7 years until I started revision path. Now, the funny thing is I actually intended to start revision path with another black designer. Remember I mentioned Zillow says is the person who had won that category back in 2006. He's a black designer named Kevin heights. So Kevin and I were going to start revision path the both of us. I had told him about the idea in late 2012 and we were going to start it together. But he kind of dropped out of the project at the last minute. I didn't hear from him. And at this point, I had already bought a domain. We had come up with a name for it. And I just went ahead and launched it solo. Now, the name revision path. That was meant to relate to both design and technology. So like if you think of a path and design like an illustrator, that's where I wanted to sort of get that from and then of course we know about design revisions. If you've used subversion or any kind of like version control software, you know about revisions. And then, you know, it also relates to tech because paths are part of like a directory on a server or something like that. So I wanted to have it kind of play off of both of those concepts. I also purposely called it revision path because of what I went through with the black weblog awards. Now keep in mind, I started that in 2005, it ran to 2011, and if you were around during that time and you knew what the discourse was around race relations, especially with a black man running for presidents, there was a lot of post racial stuff. There was a lot of talk about blackness in these very odd, weird ways to the point where if I mentioned the black web blog awards, people just wouldn't even look at it, think about it, consider it, no matter what the scope of it was, just because it had black in the name, they would not be interested. And so I purposefully did not want to saddle revision path with that. I wanted it to sort of have a bit of a clean slate. Like you could look at revision path. And see that this is about black people. I'm a black host, this black folks on the show like you know that, right? I just didn't want it to be that super obvious, at least not at that time, because I had sought with the reception was for it. And I just didn't want to, I wanted to give the project a shot. And so that's why I kind of named revision path. So February 28th, 2013, that was when I launched it. I used a super basic template from theme forest. I made some slight customizations to it. And initially, revision path was actually intended to be an online magazine that was not intended to be a podcast. I was inspired by sites like clutch magazine from my friend didi Sutton, the great discontent, et cetera and I wanted to do something similar like that in focus on black designers that I knew were making great work. You know, revision path as a platform has always been about two things. Celebration and recognition. Point blank period. And now those early days of revision paths are super rough, absolutely positively rough. Even though I knew a lot of black designers then, some of them even were friends of mine, when I asked them if they wanted to be a part of this, like if I could interview them for provision path, every single one of them said no. Every single one of them did not want to do it. To them, I was doing something controversial. And they didn't want to be a part of it. Some people thought that I was causing trouble, perhaps causing more trouble because they saw the sort of harassment that I received when I did the black weblog awards, and the hate campaigns that I would get because of the black weblog awards. And they just didn't want to be associated with it. And so I asked them, they said no, and to this day, none of them have ever been on revision path. Now that's not me holding a grudge, although I could see it being misconstrued in that way. I don't twist anyone's arm to come on the show. If I ask, and you say no, I'm gonna leave it at that, you know? And I got a lot of that in the early days, people, in the early days, he got a lot of negative comparisons to BET, like, I remember some people saying that I was doing like a BET version of a design publication or something like that. Just like weird, oddly racist stuff from other black people. From other black designers too, which was a bit disheartening, but it didn't, it didn't kill my focus on still
Revision Path
"10 year" Discussed on Revision Path
"The tenth collective is an initiative from revision path and state of black design created to help connect black designers searching for their next opportunity with the companies that want to hire them. So if you're a black designer and you're looking for a new job, go to the tenth collective dot com to sign up for free or check out the link in the show notes. Speaking of jobs, provision path's job board is part of the tenth collective that you can go there to browse job listings, post your own job listings and sign up for email updates when new job listings are posted. This week on the job board, old dominion university is looking for the following positions in Norfolk, Virginia. A lecturer in game development and game programming, and an assistant Professor of photography, tenure track. For more information
Climate Cast
"10 year" Discussed on Climate Cast
"And I would contend that that's actually a good thing because normally when Republican prior election seasons when Republican candidates talked about climate change, they were speaking out against climate change against the belief in human caused climate change and against taking action on climate change. But that didn't happen in the most recent election. I think the reason why that is is because young conservatives in America, that doesn't play with them anymore. They actually would like their leaders to acknowledge the realities of the problems that we face. So I think that's a really important step forward. And I hope it continues to play out. America will be a much better country if we can put if we can take climate change out away from being a prisoner of the culture wars in America. One other thing that I think everybody should keep their eye on. And that is the fact that Congress did pass the inflation reduction act of 2022, which is despite its name. Or in addition, perhaps, to its name, it's a major climate solutions Bill. So a whole lot of money is going to be flowing through federal agencies to help Americans, homeowners, renters, business owners, to start to participate in the clean energy revolution. At a much more affordable price than they could have previously participated. So my guess is that public enthusiasm for climate solutions is about to skyrocket because as more people as more families households businesses, small businesses are enabled through good public policy to participate in the clean energy revolution more and more we'll see the benefits of doing so. And we did see in the last midterms that the gen zers apparently are a surging part of the vote and you're the data guy on climate change opinion. So correct me if I'm wrong here, but climate change support grows as you skew younger. How does that booming burgeoning young millennial and Gen Z generation effect climate change opinion and potentially policy going forward? Yeah, no, that's exactly right. Young people care about this issue much more than their parents and their grandparents on average. The split, the age split is bigger among conservatives than among a liberals because frankly most liberals in America they're pretty darn worried about the problem and very supportive of government taking action to address it. But as I said before, it's this divide among conservative Americans and the fact that their youngsters, young conservatives are, they just don't want to hear that nonsense climate denial anymore. So I think it's going to play a very beneficial role in helping to about to use a French word that I'm not sure I can say quite right, but it will create a rough approach between liberals and conservatives because the young liberals and conservatives really are of much closer to being of one mind and wanting to see government move forward and deal with this problem. Well, Ed, your French is much better than mine, so we're going to let you have that one. You know what? Thank you so much at maybach with George Mason's university center for climate change communication.
Climate Cast
"10 year" Discussed on Climate Cast
"Yeah, so if you think about the 6 Americas as a continuum, the one group on the left, the alarmed, these people are ready to take action, they don't necessarily know what actions are most important for them to take. So there's a very important role that you're undoubtedly playing Paul and in terms of helping those people understand which actions are going to be most consequential, which actions are going to be most helpful. The segments in the middle of the continuum, the concerned, the cautious, the disengaged, and really to some degree even the doubtful. I think the most important service you can provide them is just frankly teaching them more about the realities of climate change as a here now us problem in our community. And the group on the far right, the dismissive, I'm pretty sure they're not listening to you. And even if they were, I'm just not sure that they would actively be listening as opposed to yelling back at you. Through their headsets. And I like to talk about solutions too because a, it's an exciting space to watch evolve. And it does give us hope, and there's a lot happening there. And we're talking about that in this hour too. Let me ask you this. You did a recent study on why people's opinions are changing. How are extreme weather events and people's own experience changing minds on climate? Yeah, Paul, I'm so glad you asked that question. Especially given that your meteorologist, that is one of the indicators. I didn't even really fully appreciate that until last night and preparing to talk to you, but that's one of the indicators of climate understanding that has changed the most in the past decade. So ten years ago, fewer than three in ten Americans felt the climate change was changing the weather here in the U.S.. And now it's almost two thirds. Wow. So more than 6 and ten, a doubling of the proportion of people who get the fact that the weather isn't what it used to be. And it's really as a result of climate change. And when you think about it, it makes perfect sense because in fact, climate, as you know all too well, is the average of weather conditions over a very long period of time, typically thought of as 30 years or longer. So we can't really directly experience the changing climate unless we've been in the same place for a three or more decades and we've got a good attention span. But we sure can experience the weather and one of the so the most direct manifestation of the way climate change changes our touches our lives is through an increasing in the severity or the rate of extreme weather events that are happening in our community. Yeah, and you're right. I mean, there are long timers here in Minnesota, myself included who do know that our winters are very different than they used to be 30, 40, 50 years ago. There is that portion of the population that understands that I think, hey, let's look ahead. What will you be watching for? What should we be watching for with climate change opinion in the next few years? What trends are you seeing? Well, one important trend is that in the most recent election, which just played out, we really didn't see Republican candidates talking about climate change.
Social Media Marketing Podcast
"10 year" Discussed on Social Media Marketing Podcast
"And I just want to mention that we do have some cool online options. We've got a on demand ticket, which means you can watch live. Now, if you buy an all access ticket, you also get an on demand ticket. But you can watch live from wherever you are. Now, the on demand ticket, I'm sorry, is not live. The streaming ticket is live. There's a streaming ticket and an on demand ticket. So the streaming ticket lets you watch live and the on demand ticket lets you watch the content whenever you want to watch the content. So if you want to find out a lot more about social media marketing world, the easiest place to go to is social media marketing world,
Social Media Marketing Podcast
"10 year" Discussed on Social Media Marketing Podcast
"And I was like, okay, so then I took my little iPhone out of my pocket, and I think it was, I don't know what it was back then. iPhone four S or something. And I started snapping pictures everywhere, and I'm like, teaching, ching, ching, taking pictures, you know, my way of documenting like what everything he was doing. Because in that moment, I'm like, oh my gosh, I might be able to put on an actual physical event. And prior to this, I was doing online events and people have been coming to those for years, but I was like, okay, all of a sudden in that moment, the lightbulb switched in my head, and I became a real student while I was at that event, in addition to someone who was presenting. Then I came back in about almost two years later. It took me that long because I had to go figure it all out, right? I had to, as I started going to other events, I had a different lens in which to watch these events. And I just basically worked really hard and in April of 2013, we launched the very first social media marketing world. And I don't think you were there, Leslie back then, were you? I don't think I wasn't going to get it. Yeah, we didn't know each other at that point. But 1100 people came from all around the world that our very first one. That was almost twice the size of what Joe's event was. And I was shocked that we had that many people. And we had recruited 68 speakers, which was no small endeavor, right? And a lot of people that came to that event were actually events people to my surprise that put on much larger events, and they were giving us a lot of kudos and acknowledgments about how great of an event it was. We did our opening night party was at a dinosaur museum in San Diego called the museum of man or not museum of man, national history museum. And the joke was that we were going to network around dinosaurs, right? But we were the new thing, the social media thing. We rented a thousand person yacht. We took it out on San Diego bay. And it was just a really great first experience. And a lot of people were saying, dude, you got something here. I really think you should keep doing this because I didn't know if I was going to make any money. I didn't know if it was going to work. And just backing up the train a few months before we launched in April of 2013, social media marketing world, the marketer in me knew that I would have to do something pretty extreme to actually get people to show up at a conference because prior to this, everything was these online summits that we were doing a couple of times a year. And yes, we had grown a really big email list, but I knew that there was some sort of a marketing angle that I needed to take that I'd never done before.
Electronic Specifier Insights
"10 year" Discussed on Electronic Specifier Insights
"And we geeked out you know on on how we can really make an impact but again there's a lot of neat connections there that that are much deeper than just a transaction. It's not just a vendor relationship anymore. It's truly a partnership and that that gets pretty exciting and finally. You've sydney's goes. And they're all deadlines going forward you review them consistently once every six months. How how will you essential progress that we've guy Three different what. We call working groups since so Pity da diversity equity and inclusion been around for a couple of years and so Were we're setting up dashboards. So what can we tenure goals and we have to have the one year goals to get to the tenure goals and then here each of the components Inclusivity there's recruitment. There's employee engagement so that you just kind of start to break down and break it down and breaking down on each of them have targets so they meet monthly to progress and talk about how we're doing and saying the same thing we bet to environmental working groups one on the circular product design vantage out of our nda and then went out of facilities. Which has the rust of ed goals or commitments on sustainability and. Then we've got a stem education working group that were just standing up and so really issue. This will follow the same process There's accountability we have an impact council That we've got a diversity d. I executive council in our impact council who their quarterly governance. So we were poor progress quarterly to our leadership councils. And then will do the same with eric. Steam executive leadership team as well as the board so we just met with the board weeks ago to talk about. This is typically so we've guy we've got governance and visibility all over the company so Really you know when. I look at the environmental goals are still work to be done there. And so we've look at as as So we're an agile. Company are trying to be more agile and so agile is about getting your product market and then iterating and so the environmental targets. We're gonna take a little bit more time in so we didn't want to hold up the strategy for another six months to a year to get his environmental targets in place in so we said okay. Let's launch this. Let's get out there. Let's start working on the diversity piece in the we'll come back in a year's time or however long it takes us unto set more specific emissions targets for example and so That's the approach that we wanted to take with us. And then again i'll just really close on In go back to the to the diversity goals This is really this is gonna take so many of us To work on this and our ambition. Here's really we inspire other people to set goals by really what's needed and may not be what's obviously and so. We really hope that this is kind of a call to action for collective to really change the way we're thinking about this and really drive. More innovation to change the to change pipeline specified..
Food Safety Matters
"10 year" Discussed on Food Safety Matters
"Truck support donkeys storage. We it goes into that transportation system and for to for the life of me. I have even with the fda shifting to a systems based approach to Inspection and enforcement. I see great difficulty with implementation and enforcement of this aspect of the supply of the supply chain and and i think therefore That this is is is a gap and and so let let let me put a fine point on it. So much of the much of my concern is about perishable foods perishable foods in the cold chain So when when we when we take the food from a well regulated at a high performance food production establishment and we offer it into transportation refrigerated transportation refrigerated distribution. We know and we have. We have good data that they that the food is almost immediately subjected to a use Temperature abuse and whereby There is a increase potential for the outgrowth of undesirable. And or pathogenic microorganisms. So the this is the gatt. This is the gap for me transportation and the cold chain interesting. Do you think that the With the new era of smart food safety with the emphasis on technology and traceability things that some of that will get addressed as as we leverage more technology and pay attention. Yeah i think it. I think it it will help. More information. will lead to corrections and preventive control measures. So right now. The dow is a positive information once that once that material goes into the supply chain it it can lose. Its identity can lose its history And certainly we don't have a good information about how it's been handled stored Whether it's been subjected to temperature abuse or not so when anything that we can do the smart food safety artificial intelligence All of those all of those things that we can bring to bear Own shining a brighter light on the history of the food in the distribution system is going to enable improvement. Now what. I found interesting so i have my own gap that all out in the end. This discussion with before we move on to question three. But i wanted to to mention a few of the gaps Described to me by by the folks. I reached out to retail and food service was a huge gap david atchison and steve. Maher not both Specifically mentioned retail foods now retail is dressed in the smarter new era of smarter. Safety blueprint. David also mentioned about tracking and traceability Frank mentioned that as you as you said larry. That essentially food production is constantly evolving as arthur pathogens that cause contamination so.
Food Safety Matters
"10 year" Discussed on Food Safety Matters
"Ben renter him editorial director of food safety magazine and a very special guest. Larry keener president and ceo of international product safety consultant who's joining us to share perspectives on the tenth anniversary of the food safety modernization. Act or fizz. Mma so welcome larry and happy new year to both of you. Who thank you twenty one. It is indeed. Thank you stacey. Thanks for having me. Well it thank you for making the time larry. We always appreciate it and very happy that you could join us for this one so before we get started. I'd like to give larry a proper introduction. Larry has more than thirty years experience in the food. Processing industry holding positions in private industry with the state of california and with the national processors association larry's an internationally regarded process authority and frequently works with food companies in this capacity to communicate the processors regulatory responsibilities assess risk and adequacy of controls for entire processing operations. Mr keener is vice. President and co chair of the australian-based global harmonization initiative or an organization founded in two thousand and four to promote harmonization of food safety legislation and regulation. He has written many papers and book chapters on food safety and process validation and is a frequently invited speaker food industry. Business and scientific conferences workshops and seminars and larry's a.