38 Burst results for "Accountant"
Latina to Latina
A highlight from How Danyeli Rodriguez de Orbe Learned She Was Not Meant to be a Martyr
"Tangeli Rodriguez de Orbe defies category. Yes, she is a poet, an accomplished spoken word artist, a cultural expression activist. But beyond that, she is a free thinker who has a truly incredible ability to describe experiences that we talk about a lot — the pain points of migration, the limits of familial responsibility — in ways that feel raw and honest and new. We talk about the importance of Black immigrant narratives, both to immigrants themselves and to our political discourse, and the life -changing power of refusing to be a martyr. Tangeli, thank you for doing this. Thank you for having me. One of the themes you return to over and over in your work is this idea of being better in your homeland, of having left parts of yourself in your homeland, the yearning to return to something that some would argue is impossible to return to. Can you describe to me, Tangeli, your first experience of that, what you remember, the first time you remember thinking, there is a part of me that is missing? I think I realized that parts of me were missing when I returned. I migrated when I was eight years old, and I wasn't able to go back to the DR until I was 21. And when I returned, and I was on that plane, and I journaled, and I waited for my uncle to pick me up at the airport, it felt like something was returning to me that I didn't know was missing. Obviously, you know, being undocumented, you miss home, you miss the friends that you left behind, you miss family members. But there is something particular that happens in the body when you go back to the place where people still remember the nickname that your grandma used to call you when you were five, the place where the neighbors look at you in the face and say, wait, I remember that face, it's that so -and -so's daughter. There are certain words that are just simply don't exist for the feeling of walking in your neighborhood after as a grown woman, and knowing that there was a big chunk of who you could have been missing because you were kind of ripped at the roots and replanted somewhere else when you were only eight. I've done a lot of these Latina to Latina interviews, and there was a pattern that emerges over and over again, which is a mother who is brilliant, but doesn't have the means to pursue her dreams, a child who is then either brought to the US or born in the US and given a range of opportunities that her mother never had, which make her feel in turn as though she has to become a doctor, lawyer, accountant, et cetera. You seem to have freed yourself of that narrative, and I'm very curious that it wasn't, I have a lot of Latinas I talk to who they did one of those paths and then they decided it wasn't for them, and then they dedicated themselves to a life of creativity or the arts. You seem to have gotten there much quicker, and I wonder what either what happened or what it is about who you are that allowed you to skip that part of the common path. No one has asked me that before. Immigration shaped pretty much my entire experience in the US and most of my life.
Bloomberg Daybreak Asia
Fresh update on "accountant" discussed on Bloomberg Daybreak Asia
"And Sports. Subscribe today on Apple, Spotify Everywhere you get your podcasts. Bloomberg Radio. Context changes everything. Is your accounting and tax firm the right fit for you and your business? Are you getting the attention you need? At Anchin, our established advisors will find tax opportunities in the current business and tax environment. Opportunities that lead to success. Anchin remains partner owned and reliable with unmatched industry specialists providing high touch client service. Let Anchin accountants and advisors map out a tax strategy that ensures you're not leaving money on the table. Visit Anchin .com to learn more and to contact us. Hey, wouldn't it be great if life came with remote control? You know you could hit pause when you needed to or hit rewind.
Unchained
A highlight from Another Bad Week for Sam Bankman-Fried in His Criminal Trial - Ep. 558
"I would agree with your assessment that this is not going well for SPF. The evidence is utterly overwhelming. I don't think there has been a cohesive theme or narrative to the defense. It is hard for the defense sometimes to have a theme when they are basically only have cross Hi, examination. everyone. Welcome to Unchained, your no -hype resource for all things crypto. I'm your host, Laura Shin, author of The Cryptopians. I started covering crypto eight years ago and as a senior editor at Forbes was the first mainstream media reporter to cover cryptocurrency full -time. This is the October 20th, 2023 episode of Unchained. Thinking of launching your own stablecoin? Start with the open source stablecoin studio toolkit on Hedera. Start your journey at hedera .com slash unchained. Shape tomorrow today. Vaultcraft by popcorn is your no -code DeFi toolkit for building automated non -custodial yield strategies. Learn more on vaultcraft .io about how you can supercharge your crypto portfolio. With the crypto .com app, you can buy, trade, and spend crypto in one place. Download and get $25 with the code Laura. Link in the box retailers led by Walmart and target are pushing for a bill in Congress to take away your hard -earned cash back and travel points to line their pockets. Senate bill 1838 would enact harmful credit card routing mandates that would end credit card rewards as we know it. If you love your credit card rewards, visit handsoffmyrewards .com and tell them to oppose credit card routing legislation paid for by the electronic payments coalition. Hey, all the paperback version of my book, The Cryptopians, will soon be here. On Tuesday, October 24th, which is in just a few days, the paperback version of my first book will be published. It contains a new afterward covering some recent developments in crypto since 2021 when the book went to press. Plus, this version names the person I suspect to be the DAO hacker. In case you never got to read the book in hardback, or like me, you prefer to read paperbacks for bedtime reading, pre -order today. Check our newsletter and the show notes for the link or just search for it at any of your favorite bookstores. The title is The Cryptopians. Idealism, greed, lies, and the making of the first big cryptocurrency craze. Thanks for listening. Today's guest is Sam Enser, partner at Cahill Gordon and Rindell. Welcome Sam. Thanks for having me again, Laura. It's a pleasure to be back. For frequent listeners of Unchained, you will know that Sam has repeatedly come on the show to discuss the SDF trial and he's here to discuss the events of this particular week. Sam, I'll have to say at this point, from my experience in the courtroom, I continue to feel that the prosecution is winning in a pretty overwhelming way. This week, we had Nishad Singh, the head of engineering. We also had some technical and legal experts, including the general counsel of FTX. And you and I had previously talked about how, at least last week after the end of the second week, it wasn't totally clear what the defense's strategy was. And I wondered if now, after this third week, if you're seeing, you know, anything useful that they can use in their closing or, you know, just your read on how the trial is going for both sides. I would agree with your assessment that this is not going well for SPF. The evidence is utterly overwhelming. I don't think there has been a cohesive theme or narrative to the defense. It is hard for the defense sometimes to have a theme when they are basically only have cross examination. They haven't put a case on. And we do know from the comments earlier today in court that there's going to be a break in the trial. The parties are going to come back on October 26th. The government will wrap up their case and the defense is saying they're going to put a case on. And it's expected that the testimony will last through November 3rd. So it is possible that whatever the defense case is going to be, we'll see it when they put their case on. I don't think they've landed much of anything significant. A smattering here, a smattering there, a question here, a question there for, you know, we'll get into it. But, you know, there was some questioning of Nishad Singh, the former head of engineering at FTX, where, you know, they got him to admit that he had a hazy recollection of some of the events in the summer of 2022 that were pretty important to the government's theory of the fraud. Is that going to win the case for the defense? I don't think so. He's not the only government witness. I think that the fact that he didn't remember all the details is not that all that significant. He remembered the important details. There was also, I think, a moment that got some fanfare in the press. The government put on an FBI forensic accountant this week who testified that the FBI had traced transactions and was basically purporting to show that customer funds from FTX had been used to pay, for example, political donations. And it seemed from cross that some mistakes were made in the analysis. Yeah, mainly one that I remember, but I don't remember if there were others. That's not that uncommon. I don't think it's all that big a deal. The press reported it, they said that the agent's lip was quivering. Okay, fine. A mistake was made. I'm sure they felt bad about it, but this isn't material to the overall arc of the testimony. The overall arc of the testimony, you've got multiple witnesses now confirming that customers were told their funds were theirs, would be segregated from proprietary assets of the company, that FTX was separate from its trading arm Alameda, that Alameda would not have special privileges beyond those of other customers. And in fact, according to multiple witnesses now, they did have all kinds of special privileges. And it's hard for me to see how the defense is going to overcome it. We do need to see what their case looks like when they put a case on. And I think the biggest question is, is Sam Beckman -Friede going to testify? Yeah. And we're going to talk about that in a little bit. So I did want to ask, you know, Nishad's testimony seemed to me to take the most aim at Sam's character. For instance, he relayed to meetings in which Sam became extremely angry with him for even bringing up the fact that Alameda owed money to FTX. And at the time of discussions, the amount owed was $13 billion. And the most memorable part of the testimony to me was when he described the second meeting where he asked Sam for the plan to fill that hole. And he described what he called physical tells for when Sam is upset. He'll just quote a little bit of it here. He said, puffed at his chest, had his hands back. He was grinding his finger, closing his eyes, grinding his teeth, tongue in his mouth. And when he opened them to respond, he would sort of glare at me with some intensity. Then he said, I ended up apologizing to him at the end for asking for the meeting because I could tell it was so unwelcome. A lot more additional emotional moments like that. For instance, he talked about how in the lead up to FTX's collapse, he had felt suicidal and then he remained suicidal for months afterwards. He also talked about things like attempting to cut spending, but by his telling, it seemed to be sort of like nominally supported by Sam. And I just wondered generally like how you thought all this kind of pretty charged testimony went over with the jury. To my mind, actually, it almost felt like he was more emotional than Caroline and definitely way more emotional than Gary. Yeah. I mean, I think when I was on a previous time, we talked about how Caroline, when she cried in her testimony, how that is something that will stick to the jury's ribs and what made her cry. She was testifying the about relief when the, when the fraud was starting to unravel and you know, just the, just how much of a release it was because it had been such a burden to keep it secret prior to that. Right. So similarly, I think Nishad, as you've pointed out, there are several emotional aspects of his testimony. There was also, I think he used the words that he had felt betrayed by Sam. He, he characterized this dynamic, you know, Nishad sort of said the way he comes into this, he grew up with Sam's little brother. So you can sort of see this dynamic, right? Nishad is, is pals with Gabe Bankman -Fried, Sam Bankman -Fried's younger brother, probably looked up to Sam Bankman -Fried. Then he's given the opportunity to work at Alameda and then FTX. So they'll worry whether that was an opportunity, but right, we'll call it an opportunity. And he's, in his eyes, Sam is larger than life. He's older than him, right? He's on a pedestal because he's the, he's the big brother, the friend of the big brother. He's got this huge company. And, and he said he was intimidated by Sam and he, unlike some of the other cooperators, it sounds like he was read into the fraud much later. So, you know, Gary and Caroline, I think were aware of what was going on much earlier in the scheme and Nishad for a much longer period of time is just sort of in the dark about what's happening, starts to figure it out in the, in June of 2022, when they discover that there's this bug in the software that is concealing an $8 billion hole in customer assets that have gone from FTX to Alameda. Yeah. But just to clarify, he, yeah, didn't actually really understand what had happened until September. I think like, you're right. He kind of got clued into some of the details, but he was still in the dark about what was actually happening. Agreed. September is when it really, when he's really starting to get read in. And I think him describing that he looks up to Sam, he thought this was a good company. Now he's discovering that in reality, they're ripping people off that he literally is feeling suicidal at some point. These are things that the jury is never going to forget. They will relate to Nishad, at least some of them. And that begins to make them feel so part of convicting a person in a trial. One aspect of it is the evidence you need for the elements, but there's also an aspect of condemnation. The jury has to feel motivated that this is a person who deserves the condemnation of a guilty verdict and the consequences that they know will follow from that. And in some cases, this is what some folks call Trump. Some trial lawyers call this jury appeal. Like you can have a case. The U S attorney's office has cases where somebody commits a technical crime, but a jury isn't going to care about it. And so the government will sometimes not prosecute that case because it has no jury appeal. You have the facts to meet the elements, but it has no jury appeal. This is the opposite of that. Nishad gives the jury. I mean, he's not the only reason. This is why they also call investors and people who are victims of the federal damage. He thought he was helping to build something in reality. He was aiding and abetting a major fraud and he benefited from it. And he went along with it and he's accepting responsibility for that. And he's going to have consequences for that, but he does in a way present like a victim. And that is, is giving you that piece of, okay, we got to condemn this person. Well, one thing that I did want to ask though, too, is in the class examination, the defense definitely went after Nishad's own character a lot harder than they did with the other witnesses, at least in my opinion.
Bloomberg Surveillance
Fresh update on "accountant" discussed on Bloomberg Surveillance
"Kind of how it feels in markets yeah and so now we think about where do we go next not only with the bonds and stock market but also with certain business models for example on certain social media platforms exactly right Elon Musk he was in the news he was speaking at a conference being interviewed and he had a lot of commentary on his various business interests including the social media platform X formerly known as Twitter and he's run some problems with some of his advertisers and some of his advertisers have been pulling their money off the platform Bloomberg's Alex Webb joins us here Alex what do you make of the comments yesterday from Elon Musk basically telling his advertisers that he doesn't really need them yeah it just seems he wants to keep digging doesn't he there was an apology for some of the you know quite disturbing endorsements of a tweet that was certainly anti -semitic and then it was hot on the heels of that apology comes this foul -mouthed statement about where advertisers should go and what they should do which I obviously won't repeat on that the thing is fascinating here is like when it comes to Twitter or X or indeed any social media platform the customers are not the users right the customers are the advertisers and can you imagine any other of his businesses even you know if it was SpaceX and he was saying this to NASA about what they should do for themselves or if it was perspective drivers Tesla or indeed Tesla owners what they should do to themselves it's kind of it's not something you could ever imagine happening and yet with you know X with Twitter this business that is already enduring a great number of problems and they're scrambling to get advertisers back on board he comes out with this outrageous statement but Alex you know this makes sense from a traditional business model some people would argue it's the cult of personality and Elon Musk has such a cult around his irreverent and counter to consensus type of statements and personality how much can this attract a number of people based on the fact that he does cater to a group of people who want to hear him talk in a sort of bold and somewhat combative way well that assumes that the audience that he is attracting to Twitter and I'm sorry I'm to going keep calling it Twitter but the audience that he attracts to Twitter is not an audience you can find anywhere else and that that is valuable for advertisers and there is not a huge amount of evidence at this stage that that is the case is also the case with with Twitter that it does not have the sort of sophisticated targeting abilities that Meta has through both Instagram and Facebook and increasingly other platforms and of course you know Google has but other platforms such as TikTok also have so you don't need to be on Twitter as a brand you probably do need to be on Instagram on on Facebook you certainly need to be in Google search increasingly need to be on YouTube you know increasingly need to be on TikTok so it isn't as though he has an incredibly valuable audience and is attracting an even more valuable one. So has Elon articulated what his strategy is for the ownership of X because I mean I think most animals would say he dramatically overpaid for it at the get -go and since then has just only destroyed even more value as more and more advertisers leave so it doesn't appear to be an exercise. economic What's he saying about just his ownership strategy for X? Well we've heard various whispers since even before he acquired he actually completed the acquisition of the company about turning it into a super app that is somehow comparable to what happens in Asia with WeChat and indeed others. There are of course a number of hurdles to that. You need to have the developers willing to build on your platform if it's not perceived to be a safe platform which is the growing perception at least right now that's going to be hard to do. When people say there is not a super app in Europe or in North America they're actually kind of missing crucial part of this ecosystem which is the iPhone itself. The iPhone itself you could say is a super app. iOS is a super app or indeed Android right. These products do exist. You open your iPhone and you have access to a panoply, countless panoply of services and apps. he's So not actually when he comes into the space going for green space he's actually opening up competition with Apple and that's something that plenty of others have tried to do in the past and without a great deal of success. How much pressure does sure does Elon Musk come under from investors I mean I understand that Twitter I'm not gonna call it Twitter X now is a private company but there's some pretty high -profile banks that are owners. yeah it's I mean that there's a bunch of different people who were in Twitter there are you know the private investors like you know figures from the Middle East for instance there's I think Larry Ellison is in there they perhaps have got more at stake in terms of wanting to worry about their investment with banks it's a bit more complicated because you know the possibility of getting business from the kind of Elon -verse writ large whether that's you know Tesla doing more capital increases or or SpaceX you know going public at some stage in the next few year or did of some the of others neurolink and the boring company they've got a tricky tightrope to walk they clearly don't want to be writing down or writing off the value of their investment but they also don't want to be eliminating the prospect of getting more business Elon and his company so it's a tricky path for them to tread and I don't envy at them yeah just he's in the news I'm not even sure where his focus is on any given day Alex Webb thank you so much for joining us Alex Webb Bloomberg Bloomberg News from London joining us on some of the latest musings from Mr. Elon Musk. Lisa what's got your attention these days what were you guys focusing on here on Bloomberg's surveillance this morning? well I have to say that I was a little bit distracted because I would looked up a couple things for Elon Musk and and his 10 children popped up and I just wonder any 10 children and and so I started to think to myself you know yes you've got a lot of different initiatives going you have Tesla you have X you have Starlink and you have you know diplomatic trips to the Middle East and you have 10 children I just mind -boggling to me. I guess he has some childcare. That's exactly what I would assume. would assume I that he would not be you know trying to figure out who's gonna tend parents to conferences and why the chores weren't done at a given night. To me it's just an amazing saga and we are focused on that but honestly I mean to me today marks the end of a month that was pretty amazing when it comes to returns and narrative shifts. So the question I've been asking some I guess some fund managers and it just is did we in fact see peak rates in late October? You're the credit guru in my mind. You're my guru. credit What do you think? Do we see peak rates? Maybe in the two -year. Okay. That's what people think, right? the That idea of the Fed now being done raising rates and going toward a next move that would be a cut seems to be what a lot of people are talking about. I'm not sure what that means longer term for longer term bond and yields I think that's what people are going to be parsing out on a day where we do seem to be building on some pretty hefty gains for the month, about more than 8 % for the S &P today. A little bit higher as we head into the open bond yields, a bit higher as well after an incredible bond rally so far this month. Interactive Brokers pays up to 4 .83 % on instantly available USD balances in your brokerage account. How much interest can your broker pay? Interactive Brokers conservative and prudent risk management uniquely positions them to pay up to 4 .83 % on uninvested instantly available USD cash balances in your brokerage account. The best informed investors choose Interactive Brokers. Rates subject to change. Visit ibkr of this story. How your EV's battery may not be as green as it seems. Why a decrease in global birth rates could send countries scrambling to increase immigration. You get context. Context changes how you see things. How you change things. Because context changes everything. Bloomberg Go to .com to get context. The tax firm the right fit for you and your business? Are you getting the attention you need? At Anchin our established advisors will find tax opportunities in the current business and tax environment. Opportunities that lead to success. Anchin remains partner -owned and reliable with unmatched industry specialists providing high -touch client service. Let Anchin accountants and advisors map out a tax strategy that ensures you're not leaving money on table. the Visit Anchin .com to learn more and to contact us. walking into the building for the first time after the shooting it was crippling but it had to be preserved. In response to the Pulse nightclub shooting that affected the LGBTQ community,
CoinDesk Podcast Network
A highlight from SBF TRIAL PODCAST 10/19: Listen how Judge Kaplan's Anger Hits All Lawyers in the Sam Bankman-Fried Case
"Welcome to the SBF trial, a Coindesk podcast network newsletter, bringing you daily insights from inside the courtroom where Sam Bankman -Fried will try to stay out of prison. Follow the Coindesk podcast network to get the audio each morning with content from the Coindesk regulation team and voiced by Wondercraft AI. We've entered the soul -sucking phase of Sam Bankman -Fried's month -long criminal trial, the part where an antsy Judge Lewis Kaplan paces and glares and then lashes out at prosecutors and also defense lawyers for wasting everyone's time. The government proffered two dud witnesses on Wednesday that probably did more harm to their working relationship with Judge Kaplan than good to their borderline airtight fraud case. Ex -FTX lobbyist Elliora Katz and the paper -pushing Google bureaucrat Corey didn't Gaddis spend an hour on the stand between them delivering lackluster performances that peeved the no -nonsense judge. Late in the day Kaplan accused prosecutors of calling up a mannequin in Katz who had spent her morning testimony mumbling variations of I don't know anything and I didn't work at FTX back then in response to most every question. Her perplexing statements hinted that Katz would rather nuke her own credibility than play the game prosecutors wanted her to. That game was hardly earth -shattering, simply reading tweets and transcripts into the court record. At times Kaplan was very clearly peeved at the sheer number of documents that Katz was asked to read into the record, especially given these were all public statements made on Twitter or uttered from the defendant's mouth in front of Congress. As bad as she was, the Googler was worse. Gaddis, who responds to legal requests the search engine giant receives, spent his ever -so -brief testimony saying there existed metadata that, I guess, demonstrated some Google doc whose contents weren't actually discussed, had been received or worked on or something by Bankman -Fried. Then cross -examination demonstrated Gaddis didn't know a damn thing about metadata, a revelation that threw the bench into disarray. We have 18 people devoting time to this case and it's really a crime. What you're doing to them," an exasperated Kaplan grumbled at the prosecution once the jury had left the room. He blasted them for making Gaddis fly from Texas to New York City to spend what couldn't have been more than ten minutes saying literally nothing of value. "'Lawyers are supposed to do a little better than this, and I'm talking to both sides,'" the judge said. The crux of Kaplan's indignation with both the prosecution team and defense attorneys was the result of their apparent failure to stipulate. Stipulations are how things run smoothly in a court. Some pieces of evidence are facts that both sides agree are facts. I can appear on C -SPAN and say my crypto exchange isn't stealing anyone's money while also wearing a $10 ,000 suit I bought with their cash. Those statements notwithstanding, my defense and prosecutors should be able to stipulate before blabbing in front of jurors that the video is itself real. That might be what happened with Katz, or rather, what didn't happen. Prosecutors had an array of videos and blog posts related to Bankman -Frieds and FTX's representations to lawmakers, and they seemed to lack stipulations for some of them. They took the long route to getting it in the record, despite actually having stipulations for a small handful of exhibits Wednesday. The situation was even more absurd for the Google employee. During a short afternoon recess, Kaplan pressed defense lawyer Chris Everdell on why his team didn't simply agree to a stipulation that would have eliminated entirely the need for Gaddis' testimony. Everdell said prosecutors gave them late notice about the evidence they'd focus on Wednesday, and then never asked for one. Now, that's not to say that every government witness Wednesday was a fizzler. We can't forget Finance Santa Claus, a white -bearded Australian accounting professor named Peter Easton who teaches at Notre Dame. His testimony was tantamount to beating Bankman -Fried with a sock full of coal. He dug a knife into the defense by arguing it was simply impossible for Alameda to spend billions of dollars on its various pursuits without also dipping into customer funds. On cross -examination, he twisted it. The defense did land a pretty solid punch on a different accounting expert called by the government, an FBI forensic accountant whom defense lawyers pinned in a corner for seeming to mess up her analysis of the flow of funds that led her to believe Alameda spent its own money on political donations. Her lips seemed to quiver from the stand. But the day's best zinger went to the prosecution, who, despite their frosty moments with the judge, still finished Wednesday strong. With the help of an SDNY investigator, they dug through the infamous Twitter conversation between Bankman -Fried and journalist Kelsey Piper. You know the one, where Bankman -Fried curses out regulators as well as the stupid little games woke Westerners play and bemoaned his loss of funds. The line sounded pretty soulless and damning. Jurors certainly thought so. At least three nodded their heads and smiled after hearing them, as if to say, yeah, he really did it. So we finally heard from many of our outstanding witnesses, and it turns out both Shamelle Medrano and Paige Owens were with the government. Medrano is an investigative analyst with the U .S. Attorney's Office in the Southern District of New York, who explained tweets and direct messages, while Owens is a financial forensics The Department of Justice confirmed on Wednesday that it will not call Andrea Vander Merwey, a proposed expert witness, and only expects to call former FTX General Counsel Kan Sun and Third Point's Robert Borgerdi to the stand on Thursday. Everyone expects the court day to end early on Thursday. Defense attorney Mark Cohen asked whether the defense has a broad list of possible witnesses, said the defense is still working on it. We're certainly not going to rebut the expert that they didn't call, he said. That seems reasonable, Judge Kaplan quipped in response. We're then on break until October 26, when the DOJ expects to rest its case. The defense, which is still not acknowledging whether or not it will actually bring a case, could begin presenting it that same day. One note on this last point, a defense is not obligated to present a case. The burden of proof is on the government to prove beyond a reasonable doubt that Bankman -Fried committed fraud and conspiracy on the different charges he faces. The defense can just immediately rest, as if to indicate that the DOJ has not met that burden of proof. I don't think that's likely, and I fully expect the defense to present its case that Bankman -Fried is not guilty of the seven different charges, but Cohen and Judge Kaplan have both acknowledged this possibility, including on the first day of the trial. The burden of proof is always on the government, the judge told the jury, before opening statements on October 4. The defendant has no burden to prove innocence, no burden to produce any evidence, no burden to testify, or obligation to testify. The defendant has an absolute right to remain silent, and if that's what happens in this case, you may not consider his silence against him in any way. Want to follow along? Sign up for Coindesk's new daily newsletter, The SBF Trial, bringing you insights from the courthouse and around the case. You can get the podcast each day right here by following the Coindesk Podcast Network. Thanks for listening.
Bloomberg Daybreak
Fresh "Accountant" from Bloomberg Daybreak
"Grasp the latest trends in the legal industry, helping you achieve better results for the practice of law, the business of law, the future of law. The difference is Bloomberg Law. Learn more at BloombergLaw .com. America is strong and today's investments in essential American infrastructure make it even stronger. Build America Mutual only ensures U .S. municipal funds, providing an added layer of security to improve any portfolio with guaranteed income that helps investors reach their goals. Be part of building America. Build a better portfolio. Invest in BAM insured bonds. Hi, Ryan I'm Blaney, a third generation race car driver, and I dedicate a lot of my time going fast. But when my grandpa was diagnosed with Alzheimer's, it was a very unexpected bump in the road for us. It's important to notice if older family members are acting differently or having trouble with routine tasks. Early detection of Alzheimer's can give your family time to explore support services and access available treatments. If you or your family are noticing changes, it could be Alzheimer's. Talk about seeing a doctor together. Visit alz org slash time to talk a message from the Alzheimer's Association and the ad council. Do you love Elon Musk? Do you hate Elon Musk? Do you have no idea what to think about Elon Musk? Then we have just the show for you. He's become even more larger than life. Find Twitter doesn't get us closer to Mars. Oh, you are my volunteer. Put a chip in my brain. Each week on this podcast will break down, analyze and debate the most important stories on Musk and his empire. It's all one big universe. You just work for Elon. From Bloomberg Business Week. This is Ilan Ing. Listen wherever you get your podcasts. Hi, this is Russell Shinsky, managing partner of Anshun Accountants and Advisors. Have you considered if your tax advisor is still the
CoinDesk Podcast Network
A highlight from UNCHAINED: SBFs Lawyers Could Be Annoying the Judge | How Might That Impact the Trial?
"Hi, Welcome to Unchained, your no -hype resource for all things crypto. I'm your host, Laura Shin, author of The Cryptopians. I started covering crypto eight years ago. And as a senior editor at Forbes, was the first mainstream media reporter to cover cryptocurrency full -time. This is the October 9th, 2023 episode of Unchained. DeFi just got way easier with Vaultcraft, popcorn's no -code DeFi toolkit for building, deploying and monetizing automated yield strategies. From institutional service providers to DeFi degens, anyone can use Vaultcraft to supercharge their crypto with custom cross -chain yield strategies. Learn more on vaultcraft .io. The game has changed. The Google Cloud Oracle, built for Layer Zero, is now securing every Layer Zero message by default. Their custom end -to -end solution sets itself up to bring its world -class security to Web3 and establish itself as the HTTPS within Layer Zero messaging. Visit layerzero .network to learn more. Buy, trade and spend crypto on the Crypto .com app. New users can enjoy zero credit card fees on crypto purchases in the first seven days. Download the Crypto .com app and get $25 with the code LAURA. Link in the description. Today's topic is the ongoing criminal trial of Sam Bankman -Fried. Here to discuss are Sam Ensor, partner at Cahill Gordon and Rindell, and Brian Klein, partner at Waymaker. Welcome, Sam and Brian. Thanks for having us on, Laura. Thank you, Laura, for inviting us on. So you were both recent guests, so I'm not going to go into your backgrounds first. But to help people differentiate your voices, Sam, why don't you start by telling us what your top takeaway is so far from the trial? I think the top takeaway is you see the government honing in on their theory. A big part of their theory of the alleged fraud is this notion that FTX told customers, hey, deposit your money, it's safe, without disclosing that they were going to let an affiliate Alameda Research use the funds to trade and have special privileges that other customers of FTX did not have. That, I think, is one interesting thing. And then we've seen from the defense side, some of their defense themes come out, like that Sam Bankman -Fried thought it was legitimate for Alameda to have these privileges, that he didn't think there was anything wrong with that because there was enough collateral for the money Alameda was borrowing, and some of the defense themes in terms of normalizing the conduct. So things like they were building the plane while they were flying it to help the jury sort of understand that things were chaotic, and they shouldn't necessarily infer criminal intent from things that may have just been sloppy, negligent, overlooked. And Brian, what would you say your top takeaway is so far? I think the government's diving into this case and going to the deep end very quickly. I mean, they're calling key witnesses right off the bat. Gary Wang's up now, and then they're going to call Carolyn Ellison. These are the people everyone's been waiting to hear from, and they're coming up right away. And so one of my questions is, how is this case going to go five to six weeks? I don't know what's going to have it take that long if they're going through key witnesses off the bat. Now, we can all anticipate other types of witnesses they'll call, things they'll do, but they're really going right at it right away. All right. So let's dive in with the very beginning of the trial, which was this new term I learned at some point in the last couple of weeks, voir dire. Did I say that right? Correct. Sam, I love this term. I've always said this multiple times. It's jury D selection. And what we ended up with is a jury that consisted of people with these professional backgrounds. There was a physician's assistant, a social worker, a Metro -North trained conductor, a librarian, a United States Postal Service vehicle maintenance worker, a special ed teacher, a nurse, a Ukrainian advertising person. And then there was a retired I banker. And yeah, it was about three quarters women and I think a fourth men. And so I wondered how you thought these people, you know, the fact that, for instance, nearly none of them have financial backgrounds would affect how the trial unfolds. I think what's interesting about jury selection, it's not surprising there's a postal worker there because almost every case I had, there was a postal worker. So a lot of government employees get called all the time. They get full pay weather and jury duty. So it's easier for them to serve, which is quite an interesting thing. That sounds like a Manhattan jury to me. I mean, you've got a lot of well -educated people. You've got people from professional backgrounds, some of them. And you've got a pretty diverse array of people who would live in the Southern District of New York, which stretches from, you know, Staten Island, Manhattan, the Bronx and up. And so I think this jury, you know, reflects a cross section of that district. You know, you can read into, well, you got three quarters women, one quarter men, and there's only one or two hard finance people there. I don't think that really matters here. I think that the prosecutor are putting their theory forward in something that lay people can understand. And they need to do that anyways, because you're always speaking to the juror or the jurors who aren't the highest educated people or aren't the most professionals who don't have the special maybe skill set that's relevant for your trial. Because you've got to, if you're a prosecutor, you've got to get 12 people to agree unanimously on something. So you can't be talking above the head of anybody. And I think that's going to be a real focus of the prosecutors here is making this a simple, understandable case. And, you know, often the defense tries to make things seem more complex than they are, or it may be complex and just blame the complexities. I agree with all of that. And I'll just say, I think that makeup of the jury, I think would be, it doesn't favor one side or the other from what's described. But I think one thing to remember is the jurors can talk to each other, right? So if you have one or two that you educate and they get a point, they can educate the rest of the jury. And so I think the way both sides look at it is they think about who do I need to arm with the points who can then advocate in the jury room when it comes to deliberation. So maybe they're not all finance people, but if one finance person gets it and they can explain it to the others, that makes sense. And then there may be something that, that is, you know, more understandable for the postal worker that is, that they can relate to more, that they may make more sense. And, you know, another important thing is regardless of finance, a big part of the jury's job is to evaluate witness credibility. And that's something everybody is equipped to do. Indeed, the folks who may not be in front of a computer all day, but rather are delivering the mail to lots of people, talking to lots of people, may have a pretty good sense of what to look at when they're evaluating demeanor to determine whether somebody's lying or not. And they have value to add in that room. I just add one point that the jurors can't talk now about the case. And I think Sam's saying at the end, when they're set up to deliver it, they can talk among themselves. I think that is an important point. I suspect every time I've done a trial, you pretty quickly try to figure out who the foreperson is going to be. And usually you're right. You know, and so oftentimes to Sam's point, you are trying to get one or two people to be advocates for you, but you really need everybody to kind of understand what's happening. Otherwise you're going to have a problem, particularly if you're across. Wait, and I'm sorry, who the foreperson is going to be? What does that mean? So the jurors at the end, when they go back, they'll select somebody who's the foreperson. That's the lead juror who will communicate the notes usually and communicate the final verdict when they come back. They're kind of the head juror. They got their votes the same as every other jurors. It's not different, but they're sort of the nominal head juror. But oftentimes it's a person who may be in the finance case, the person with the finance background, because the other jurors will look to that person and say, hey, why don't you help us lead us through this? Because to Sam's point, you can explain this to us also. Yeah. The person who was the retired investment banker also had a Stanford MBA. But I think what - also I should say their spouse also was retired and had worked at Berkshire Hathaway. But anyway, this is the reason, and maybe I should have said this in the phrasing of my question, but the other reason I had wondered about the professional backgrounds of these people is that when you were actually in the room and you were listening to all the prospective jurors, a very large proportion of them actually worked in finance, probably because it is lower Manhattan. So just to see that it all got whittled down to only one, I was like, oh, okay. Cause it just felt like, you know, there was like a FINRA person and they were like RIAs and like accounting people. They were just like a lot. So anyway, we don't need to belabor this point, but it was just something - One thing I think would be interesting, I'd love to hear Brian's take on this. If you were defending Sam Backman -Fried, would you want a finance person or would you want to exclude them? Because I think, you know, on the one hand, they're going to get a lot of the concepts, which is relevant to some of the defenses, but on the other hand, if they were in a traditional financial background, they may be accustomed to more controls than were in place here and may find some of this stuff to be fugazi. What do you think? I don't think if I were, you know, representing Sam Backman -Fried, I would want an accountant, a traditional finance person. I would want someone out of the mainstream. I'd want younger people in general. There's certain, you know, you do trade in stereotypes when you're selecting a jury because you have to, because it's a very quick process in the sense that you're trying to like figure out what a person might believe. And you're also doing, just to go into a little bit of the dive here, sometimes if you have a robust defense team, you're looking up their, you know, social media posts. You're trying to, you're quickly Googling their names. You're trying to figure out about them to learn about their views. And they're generally like pro -government or there's someone who is, you know, had views that are skeptical of government. And if you're the defense, of course you're looking for people who are skeptical. And one last question I wanted to ask about this was one of the questions that the prospective jurors had to face was whether or not they had served on a jury before. And if so, whether or not they'd reached a verdict, but the judge did not want to know what the verdict was. I wondered what was the purpose of that question. And I wondered like, you know, would the prosecution be more motivated to pick people who had reached a verdict and then the defense wouldn't want to pick those people. I was like trying to figure that out. That the questions asked for every juror and every type of case, even civil cases, it's a standard question. And I think the goal is if you're a lawyer, you know, trying to pick a good juror, you want to know if they've been able to reach a verdict. If you're a prosecutor, since 95 percent of people who go to trial in criminal cases are convicted, it's probably safe to assume that they voted to convict. But if they didn't reach a verdict and you're the defense lawyer, you know that there was a hung juror and that there was some element of whether that juror or others who weren't able to reach a conclusion and that you would look potentially favorably on depending on how the juror described it. So that is an important question if you're a prosecutor or defense lawyer. And for the judge, the judge doesn't want people who are disruptive on the jury. He wants this case to go through and he wants the jury to deliberate and reach a verdict. This judge isn't supposed to have a thought about, you know, whether conviction or acquittal, but this judge Kaplan wants an orderly process and that's what he's looking for. Okay. Yeah. By the way, if I remember correctly, I should have checked through my notes, but I'm pretty sure everybody who said that they had served on a jury said that they had reached a verdict. I don't think there was anybody who said they didn't. So that's kind of interesting. All right. So let's move to opening statements. What did you each think of the opening from the prosecution? So I thought it was a textbook government SDNY opening in terms of the style well done in terms of being accessible to the jury, simplifying the issues, executed well, as I can tell from the transcript. And I think the general theme was, you know, to explain at a very simple level how a fraud was committed by Sam Bankman freed and the essence of the, of the, the fraud, what was it that made this fraudulent telling customers that their money would be safe, repeating that to Congress, saying it in tweets, when in fact the money could be given out the back door to Alameda, the controls weren't disclosed, Alameda, the funds were going to Alameda to literally to an Alameda bank account when customers thought they were depositing at FTX. And according to the government, Bankman freed is taking the money and using it for his own purposes, as he wasn't authorized to do. They also gave, I thought a pretty good roadmap of, you know, here's how we're going to prove the case. We've got documents, we've got cooperating witnesses and they previewed. These are folks who committed crimes. They've admitted the crimes, scrutinize their testimony, but look for corroborating evidence. What I thought that they did not, you know, I thought they elided over some complicated issues in ways that the defense could exploit things that are more complicated than they seem and were not necessarily nefarious, but the government is trying to paint them as nefarious by just sort of glossing over the details. One thing I didn't see when I was last on, I said the STNY prosecutors love to say at the end, there are three things. We ask you to do three things, pay close attention to the evidence, follow Judge Kaplan's instructions on the law, use your common sense. They did not do that here. That was a departure. I'm going to have to talk to Damian Williams, the US attorney, about why they chose not to do that after this. I thought it was a standard, you know, opening statement by prosecutors. One thing I didn't, couldn't tell, it didn't seem like there were visuals tied to it or if there were, they weren't really discussing them. And a lot of times - There were some, I think, but I wasn't in the courtroom, so I didn't see them, but there were a few, there were presentations for both. Yeah, the defense definitely was clear from the transcript they were using them because you could, the lawyer was having somebody like put it out, right? And so usually you want a simple story with some visuals and, you know, the prosecutors, everything comes down to the close really. I mean, you want the jury to understand what you're trying to do. You want them to know what to pay attention to, but you're not expecting them to make up their mind and they're not supposed to, the opening statement. So you're really trying to give them a roadmap of how to understand the trial, both sides are, and how to look at it. And I think, you know, the defense made that a little clearer in how they were presenting it. The lawyer made it very clear like, hey, this is how I want you to try to look at things. This is the prism I want you to see things. But I thought both were pretty standard and nothing really strayed from what was expected in either one. Interesting. I have to say, like my experience in the courtroom was like the prosecution was very easy because they use simple words like lie, stole, things like that. But parts of the defense, they used terms that were technical, like security, collateral, margin. And so even though I know this in and out, like I was also like having a slightly hard time to follow. There was a point where they moved away from that. But I remember thinking, how is that going over with this particular jury? Because I was like a little lost also, because he was also speaking, I felt like a little bit more quickly than the prosecution. I personally thought that if I was comparing the two, I thought the defense opening was better and typical not of what you would see in most trials because they really engaged with the substance of the case. However, I do agree that there were times where Mr. Cohen was sort of not explaining the background, you know, like just jumping in with stuff that the jury had not been given any context for. And I think Brian can tell you, like on the defense side, why does that happen? The defense is much more reactive. So the government gets to plan their opening. They can execute it as they plan it. They can practice it a thousand times. The defense lawyer is hearing the government opening for the first time, has to react to it and may have a lot of things going on in terms of the prep. And so, you know, you could sort of see in that defense opening, oh, you got the wrong slide up. Oh, could you go back to that to that other slide? You know, they're, they're much more like, they have to deal much more in the moment of what's happening, but I still fought on the substance that the defense opening was strong. Oh, interesting. Yeah. Maybe what I also picked up was it definitely felt like the prosecution delivery was like, like I said, it was just, it felt like it was delivered a bit more slowly. And anyway, for whatever reason, I felt like in the courtroom, I had a easier time following it. You need to talk slower than you think, actually. It's one of the hard things about, you know, presenting to a jury is it's not meant to be rapid fire conversation usually. I mean, you need to be yourself, of course, you can't, shouldn't change your personality, but oftentimes myself, you know, there's a lot of adrenaline. You need to like take a beat, take a breath and remember to just go slower because again, you've been living and breathing this case, both sides for over a year now, whatever, almost a year now and everything you understand, and you've got to remember these, you know, people, the 12 plus the alternates. Yeah, I'm sure they've heard about it, but they don't, you're now throwing them in the deep end of the pool with you. And so, I mean, your point is in the student one, Laura, because if you're knowledgeable and you're wondering about some of these terms, you can imagine what some of the jurors are thinking. What, what the heck's a margin? Like where, what does that even? And so I think that could be a danger for them, but I do think that the defense did use this analogy or metaphor, whatever it is about building a plane while it's flying, which is somewhat common defense theme for financial cases. And I thought that I'm sure we're going to hear that again, but I would tell you what, right now the prosecutors love when defense lawyers use those metaphors because they will slam them, in my opinion, in the close with that. They'll talk about the plane and how, I mean, they, they love that. That's always a danger. I don't like using analogies or metaphors and things like that in the opening of the fence work that I always worry that it will get turned on me because I've seen it and I've done it when I was a prosecutor and I've seen what happened on both sides. So you've got to be very careful in your opening because you will comment on someone's opening at the close. You will say, remember when they told you this, this, and this, and I'm going to tell you right now, those three things didn't happen, or you heard this and it's different. The government will do the same. Remember when that defense lawyer got up and told you this, and we talked about that plane? Well, guess what? I'm going to talk to you about a plane right now. So let's talk about the government's first witness who was a trader on, or I should say customer on FTX, Marc Antoine Julliard.
Unchained
A highlight from SBFs Lawyers Could Be Annoying the Judge. How Might That Impact the Trial? - Ep. 554
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So you were both recent guests, so I'm not going to go into your backgrounds first, but to help people differentiate your voices, Sam, why don't you start by telling us what your top takeaway is so far from the trial? I think the top takeaway is you see the government honing in on their theory. A big part of their theory of the alleged fraud is this notion that FTX told customers, hey, deposit your money, it's safe, without disclosing that they were going to let an affiliate, Alameda Research, use the funds to trade and have special privileges that other customers of FTX did not have. That, I think, is one interesting thing. And then we've seen from the defense side, some of their defense themes come out, like that Sam Bankman -Fried thought it was legitimate for Alameda to have these privileges, that he didn't think there was anything wrong with that because there was enough collateral for the money Alameda was borrowing and some of the defense themes in terms of normalizing the conduct. So things like they were building the plane while they were flying it to help the jury sort of understand that things were chaotic and they shouldn't necessarily infer criminal intent from things that may have just been sloppy, negligent, overlooked. And Brian, what would you say your top takeaway is so far? I think the government's diving into this case and going to the deep end very quickly. I mean, they're calling key witnesses right off the bat. Gary Wang's up now, and then they're going to call Carolyn Ellison. These are the people everyone's been waiting to hear for them and they're coming up right away. And so one of my questions is how is this case going to go five to six weeks? I don't know what's going to have it take that long if they're going through key witnesses off the bat. Now we can all anticipate other types of witnesses they'll call, things they'll do, but I mean, they're really going right at it right away. All right, so let's dive in with the very beginning of the trial, which was this new term I learned at some point in the last couple of weeks, voir dire, did I say that right? Which, Sam, I love this term. I know I said this multiple times. It's jury D selection. And what we ended up with is a jury that consisted of people with these professional backgrounds. There was a physician's assistant, a social worker, a Metro North train conductor, a librarian, a United States Postal Service vehicle maintenance worker, special ed teacher, a nurse, a Ukrainian advertising person. And then there was a retired I banker. And yeah, it was about three quarters women and I think a fourth men. And so I wondered how you thought these people, you know, the fact that, for instance, nearly none of them have financial backgrounds would affect how the trial unfolds. I think what's interesting about jury selection, it's not surprising there's a postal worker there because almost every case I had, there was a postal worker. So a lot of government employees get called all the time. They get full pay while they're in jury duty. So it's easier for them to serve, which is a part of an interesting thing. That sounds like a Manhattan jury to me. I mean, you've got a lot of well -educated people. You've got people from professional backgrounds, some of them, and you've got a pretty diverse array of people who would live in the Southern District of New York, which stretches from, you know, Staten Island, Manhattan, the Bronx and up. And so I think this jury, you know, reflects a cross section of that district. You know, you can read into, well, you got three quarters women, one quarter of men, and there's only one or two hard finance people there. I don't think that really matters here. I think that the prosecutor are putting their theory forward in something that lay people can understand. And they need to do that anyways, because you're always speaking to the juror or the jurors who aren't the highest educated people or aren't the most professionals who don't have the special maybe skill set that's relevant for your trial. Because you've got to, if you're a prosecutor, you've got to get 12 people to agree unanimously on something. So you can't be talking above the head of anybody. And I think that's going to be a real focus of the prosecutors here is making this a simple, understandable case. And, you know, often the defense tries to make things seem more complex than they are, or it may be complex and just blame the complexities. I agree with all of that. And I'll just say, I think the makeup of the jury, I think would be, it doesn't favor one side or the other from what's described. But I think one thing to remember is the jurors can talk to each other. Right. So if you have one or two that you educate and they get a point, they can educate the rest of the jury. And so I think the way both sides look at it is they think about who do I need to arm with the points who can then advocate in the jury room when it comes to deliberation. So maybe they're not all finance people, but if one finance person gets it and they can explain it to the others, that makes sense. And then there may be something that that is, you know, more understandable for the postal worker that is that they can relate to more that they make make more sense. And, you know, another important thing is, regardless of finance, a big part of the jury's job is to evaluate witness credibility. And that's something everybody is equipped to do. Indeed, the folks who may not be in front of a computer all day, but rather are delivering the mail to lots of people, talking to lots of people may have a pretty good sense of what to look at when they're evaluating demeanor to determine whether somebody's lying or not. And they have value to add in that room. I just add one point that the jurors can't talk now about the case. And I think Sam's saying at the end, when they're set off to deliver, they can talk among themselves. I think that is an important point. I suspect every time I've done a trial, you pretty quickly try to figure out who the foreperson is going to be. And usually you're right. You know, and so oftentimes, to Sam's point, you are trying to get one or two people to be advocates for you, but you really need everybody to kind of understand what's happening. Otherwise, you're going to have a problem, particularly if you're across. Wait, and I'm sorry, who the foreperson is going to be. What does that mean? So the jurors at the end, when they go back, they'll select somebody who's the foreperson. That's the lead juror who will communicate the notes usually and communicate the final verdict when they come back. They're kind of the head juror. They got their votes the same as every other jurors. It's not different, but they're sort of the nominal head juror. But oftentimes it's a person who may be in the finance case, the person with the finance background, because the other jurors will look to that person and say, hey, why don't you help us lead us through this, because to Sam's point, you can explain this to us also. Yeah, the person who was the retired investment banker also had a Stanford MBA. But I think what - I put my money on that person being the foreperson, but I was a betting man, right? Yeah, I should also say their spouse also was retired and had worked at Berkshire Hathaway. But anyway, oh, this is the reason, and maybe I should have said this in the phrasing of my question. But the other reason I had wondered about the professional backgrounds of these people is that when you were actually in the room and you were listening to all the prospective jurors, a very large proportion of them actually worked in finance, probably because it is Lower Manhattan. So just to see that it all got whittled down to only one, I was like, oh, OK. Because it just felt like, you know, there was like a FINRA person and there were like RIAs and like accounting people. They were just like a lot. So anyway, we don't need to belabor at this point, but it was just something - One thing I think would be interesting, I'd love to hear Brian's take on this. If you were defending Sam Beckman Fried, would you want a finance person or would you want to exclude them? Because I think, you know, on the one hand, they're going to get a lot of the concepts, which is relevant to some of the defenses. But on the other hand, if they were in a traditional financial background, they may be accustomed to more controls than were in place here and may find some of this stuff to be fugazi. What do you think? I don't think if I were, you know, representing Sam Beckman Fried, I would want an accountant, a traditional finance person. I would want someone out of the mainstream. I'd want younger people in general. There's certain, you know, you do trade in stereotypes when you're selecting a jury, because you have to, because it's a very quick process. And the sense that you're trying to like figure out what a person might believe. And you're also doing, just to go into a little bit of deep dive here. Sometimes if you have a robust defense team, you're looking up their, you know, social media posts. You're trying to, you're quickly Googling their names. You're trying to figure out about them to learn about their views. And they're generally like pro -government or there's someone who is, you know, had views that are skeptical of government. And if you're the defense, you're, of course, you're looking for people who are skeptical. And one last question I wanted to ask about this was, one of the questions that the prospective jurors had to face was whether or not they had served on a jury before. And if so, whether or not they'd reached a verdict, but the judge did not want to know what the verdict was. I wondered what was the purpose of that question? And I wondered, like, you know, would the prosecution be more motivated to pick people who had reached a verdict and then the defense wouldn't want to pick those people? I was like trying to figure that out. That the questions asked for every juror and every type of case, even civil cases, it's a standard question. And I think the goal is if you're a lawyer, you know, trying to pick a good juror. You want to know if they've been able to reach a verdict, if you're a prosecutor, since 95 percent of people who go to trial in criminal cases are convicted. It's probably safe to assume that they voted to convict. But if they didn't reach a verdict and you're the defense lawyer, you know that there was a hung juror and that there was some element of whether that juror or others who weren't able to reach a conclusion. And that you would look potentially favorably on depending on how the juror described it. So that is an important question. If you're a prosecutor or defense lawyer and for the judge, the judge doesn't want people who are disruptive on the jury. He wants this case to go through and he wants the juror to deliberate and reach a verdict. This judge isn't supposed to have a thought about, you know, whether a conviction or acquittal, but this Judge Kaplan wants an orderly process. And that's what he's looking for. OK, yeah, by the way, if I remember correctly, I should have checked through my notes, but I'm pretty sure everybody who said that they had served on a jury said that they had reached a verdict. I don't think there was anybody who said they didn't. So that's kind of interesting. All right. So let's move to opening statements. What did you each think of the opening from the prosecution? So I thought it was a textbook government SDNY opening in terms of the style well done, in terms of being accessible to the jury, simplifying the issues executed well, as I can tell from the from the transcript. And I think the general theme was, you know, to explain at a very simple level how a fraud was committed by Sam Bankman -Fried and the essence of the of the fraud. What was it that made this fraudulent telling customers that their money would be safe, repeating that to Congress, saying it in tweets, when in fact the money could be given out the back door to Alameda. The weren't controls disclosed. Alameda, the funds were going to Alameda to literally to an Alameda bank account when customers thought they were depositing at FTX. And according to the government, Bankman -Fried is taking the money and using it for his own purposes, as he was authorized to do. They also gave, I thought, a pretty good roadmap of, you know, here's how we're going to prove the case. We've got documents, we've got cooperating witnesses and they previewed. These are folks who committed crimes. They've admitted the crimes, scrutinized their testimony, but look for corroborating evidence. What I thought that they did not, you know, I thought they elided over some complicated issues in ways that the defense could exploit things that are more complicated than they seem and were not necessarily nefarious. But the government is trying to paint them as nefarious by just sort of glossing over the details. One thing I didn't see when I was last on, I said the STNY prosecutors love to say at the end, there are three things. We ask you to do three things. Pay close attention to the evidence. Follow Judge Kaplan's instructions on the law. Use your common sense. They did not do that here. That was a departure. I'm going to have to talk to Damian Williams, the U .S. attorney, about why they chose not to do that after this. I thought it was a standard, you know, opening statement by prosecutors. One thing I didn't couldn't tell, it didn't seem like there were visuals tied to it or if there were, they weren't really discussing them. And a lot of times there were some, I think, but I wasn't in the courtroom, so I didn't see them, but there were a few. There were presentations for both. Yeah, the defense definitely was clear from the transcript. They were using them because you could, the lawyer was having somebody like put it out. Right. And so usually you want a simple story with some visuals. And, you know, prosecutors, everything comes down to the close, really. I mean, you want the jury to understand what you're trying to do. You want them to know what to pay attention to, but you're not expecting them to make up their mind. They're not supposed to, the opening statement. So you're really trying to give them a roadmap of how to understand the trial, both sides are, and how to look at it. I think, you know, the defense made that a little clearer in how they were presenting it. The lawyer made it very clear, like, Hey, this is how I want you to try to look at things. This is the prism I want you to see things, but I thought both were pretty standard and nothing really strayed from what was expected and either one. Interesting. I have to say, like my experience in the courtroom was like, the prosecution was very easy because they use simple words like lie, stole, things like that. But parts of the defense, they used terms that were technical, like security, collateral, margin. And so even though I know this in and out, like I was also like having a slightly hard time to follow. There was a point where they moved away from that, but I remember thinking, how is that going over with this particular jury? Because I was like a little lost also because he was also speaking, I felt like a little bit more quickly than the prosecution. I personally thought that if I was comparing the two, I thought the defense opening was better and not typical of what you would see in most trials because they really engaged with the substance of the case. However, I do agree that there were times where Mr. Cohen was sort of not explaining the background, you know, like just jumping in with stuff that the jury had not been given any context for. And I think Brian can tell you, like on the defense side, why does that happen? The defense is much more reactive. So the government gets to plan their opening. They can execute it as they plan it. They can practice it a thousand times. The defense lawyer is hearing the government opening for the first time, has to react to it and may have a lot of things going on in terms of the prep. And so, you know, you could sort of see in that defense opening, oh, you got the wrong slide up. Could you go back to that to that other slide? You know, they're much more like they have to deal much more in the moment of what's happening. But I still fought on the substance that the defense opening was strong. Oh, interesting. Yeah, maybe what I also picked up was it definitely felt like the prosecution delivery was like, like I said, it was just it felt like it was delivered a bit more slowly. And anyway, for whatever reason, I felt like in the courtroom, I had an easier time following it. You need to talk slower than you think, actually. It's one of the hard things about presenting to a jury is it's not meant to be rapid fire conversation usually. I mean, you need to be yourself, of course, you can't, shouldn't change your personality, but oftentimes myself, you know, there's a lot of adrenaline. You need to like take a beat, take a breath and remember to just go slower. Because again, you've been living and breathing this case, both sides for over a year now, whatever, almost a year now and everything you understand. And you've got to remember these, you know, people, the 12 plus the alternates. Yeah, I'm sure they've heard about it, but they don't, you're now throwing them in the deep end of the pool with you. And so, I mean, your point is in the student one, Laura, because if you're knowledgeable and you're wondering about some of these terms, you can imagine what some of the jurors are thinking. What the heck's a margin, like where was that even? And so I think that could be a danger for them, but I do think that the defense did use this analogy or metaphor, whatever it is about building a plane while it's flying, which is somewhat common defense theme for financial cases. And I thought that I'm sure we're going to hear that again, but I would tell you what, right now, the prosecutors love when defense lawyers use those kind of metaphors because they will slam them, in my opinion, in the close with that. They'll talk about the plane and how, I mean, they, they love that. That's always a danger. I don't like using analogies or metaphors and things like that in the opening of the defense lawyers. I always worry that it will get turned on me because I've seen it and I've done it when I was a prosecutor and I've seen what happened on both sides. So you've got to be very careful in your opening because you will comment on someone's opening at the close. You will say, if you're, remember when they told you this, this, and this, and I'm going to tell you right now, those three things didn't happen, or you heard this and it's different. The government will do the same. Remember when that defense lawyer got up and told you this and we talked about that plane? Well, guess what? I'm gonna talk to you about a plane right now. So let's talk about the government's first witness who was a trader on, or I should say customer on FTX, Marc Antoine Julliard.
Nudge
"accountant" Discussed on Nudge
"My guest on Nudge today is Yuri Ganesi. He's a behavioral economist behind two brilliant books The Y-Axis and Mixed Signals and here he is introducing himself. My name is Yuri Ganesi. I'm a behavioral economist at the University of California, San Diego and my main topic of research is incentives. Yuri specializes in incentives and signals. In particular he spent a lot of time studying costly signals. I wanted Yuri to explain signaling to me, to share how costly signals like the Walkman sold in water affect our decision-making process. To do so, Yuri explained to me why his accountant probably won't get a tattoo. Right, so think about tattoos. We are watching each other over zoom now. If I had the neck tattoo, a big neck tattoo, you would have noticed that and made some assumptions about me. Right, so you would have thought that I'm cooler than I am and maybe some other stereotypes would come to mind and because of that it's really a costly signal. So imagine the story that I tell in my book is about my accountant, whose accountant in the U.S. you know they have this deadline where everyone has to submit their taxes which is horrible for them but then they can take a break. Right, so I asked him how does he survive this April 15 deadline and he basically pointed to the wall of his office where he had pictures of him and his buddies on the motorcycle and basically told me we're going around and then I thought look this guy is a big guy tall guy but bold you know so all the features that you would say would make him cool but it was clear that he's not cool. He's an accountant, right, he's like me and I think that and then I thought you know they can buy all the gear, they can buy the motorcycle, the leather jackets, the boots, everything but they will never have tattoos, the real tattoos that you need in order to be a cool hell ride. Right, because imagine me entering the office with a new accountant and seeing that he has a big neck tattoo. Right, many of us, maybe I'm not, maybe others will be worried by that. I don't know, I want my accountant to be a boring person, I don't want him to be an exciting person and because of that it would have been very costly for him to have it and that's why he cannot really pretend to be a real biker. The real bikers do it and then they block themselves from a lot of professions, a lot of things that other people can do in their life and because of that it's costly for them and because of that it's a credible signal, you can really believe that that's who they are. They're not pretending, they're not doing it for two weeks a year. Incurring significant costs can signal your commitment. Uri's accountant loves his motorcycle but he'll never be accepted into the biking community like the hard-cored bikers are until he incurs more costly signals. To do so he would need to quit his accounting job, he'd need to spend months cruising from state to state on his Harley, he'd need to grow a whispery beard and get a neck tattoo. Of course it's never as black and white as this but Uri makes a good point. To be truly accepted into a community you need to make a costly signal. Accountants need to is evidence to back this up. Incurring extra cost does indeed change perception. One great study from the Journal of Marketing Research which was shared last year shows just this. The 12-part study conducted by Sunjin and Dubois involved analysing thousands of clicks on different Facebook ads, some shown in slow motion and others shown at normal speed. They found something very surprising. People said they would pay 11.4% more for wine when they were watching the slow motion version of the ad than watching the regular version. So you're shown an ad for wine and somebody else has shown another ad for wine, they're the same ad but one is in slow motion and when you view the slow motion version you are more likely to buy, you are more likely to pay more. That's not all, the Facebook ad for artisan chocolate had 17% more clicks when it was shown in slow motion as well. The researchers speculated that costly signalling was involved. Recording in slow motion, well it simply costs more to do, it is harder to do and when viewers see this they subconsciously value it more. But enough of my speculation, let me hand back to the expert on a bit like the tattoos, it's not something that I can pretend to be that easily if I do it. So imagine that I want to signal to you that I'm very smart. I'll go and take, I don't know, I'll do an undergrad in physics at a good university, that's a signal that I'm smart, right? Even if I learn nothing that is important for you, you know, you're interviewing me about incentives, it has nothing to do with physics. But the fact that I was able to finish physics at MIT, which I would never be because I'm not smart enough, but in an imaginary world in which I would, you would know that I'm very smart, right, without doing this. And I cannot get even an undergrad in physics at a good place, let alone a Nobel Prize. So that's why if they can get it, that's a signal that they are smart. Degrees are fantastic examples of costly signals. By dedicating years of your life to studying a subject and thousands of dollars on your studies, you signal to employees your commitment and your expertise. Here's an example. If your hairdresser tells you that they've trained for 25 years in Italy's best hair salon, your perception of your haircut might change. You'd probably value that haircut much more, you'd probably pay much more compared to the exact same haircut from your local barber. But how about a real world example? Well, Uri explained to me how costly signaling helped Toyota win the hybrid car market. Here's how. So the late 90s, early 2000s, the first hybrid cars hit the market and Toyota and Honda were the two big players in this. Now, the funny thing is that the first hybrid cars were really bad cars. They were bad in the sense that for the same price, you could have gotten a much better car, you could pay less and get a better car. In most cases, when you come up to the market, come to the market with a bad product, you're not going to be successful. But in this case, it was actually great for them because if I care about the environment and I want to signal to other people that I care about the environment, I can buy a hybrid car. Back then in the early 2000s, I could buy a hybrid car. And then everyone would know that, wow, Uri, you're a good guy, care about the environment. You really show it, right? You're willing to drive this bad car. And that's a very strong thing. So surprisingly, they benefited from the fact that their car was not great. But that wasn't enough because if you look at the outcome, you see that Honda basically lost the battle to the competition to Toyota and why. Honda came up with a car that was based on Honda City, a car that there are millions of cars of it already out there. And they, probably the engineers told them, look, that will be the easiest way to do it with a supply chain and everything. We just base it on an existing car, change the engine, change a few things, but that's it. But then when you entered the parking lot in your work, you would enter with, at the end of the day, with Honda Civic, right? So no one would know that you're driving a hybrid car and that you're a good person, right? You're wasting the signal. Toyota did a very smart thing. They came up with a car that looks differently than any other car that we saw. And by doing that, people who entered the parking lot could signal to all their friends, look, I'm a good guy. I'm driving a hybrid car. And that was the power of signals in this case. So the fact that the car was bad and that Toyota came up with something really distinct that enhanced the power of the signal. And because of that, according to everyone, including the CEO of Honda, that's why Toyota want them. People bought Toyota's not because it was a better car, but because it made a clear signal about the buyer's environmental principles. The Honda hybrid looked like a normal fuel guzzling Honda Civic, but the Toyota Prius, it looked different. It signaled the driver's environmental concerns. This isn't just hearsay. In 2007, the CNW marketing research paper studied Prius buyers. The study found that 57% of buyers said they bought the Prius because it makes a statement about me. That was easily the main reason customers bought it. It was way ahead of the other reasons. The second was that 36% of people said they bought it because the fuel economy and only 25% of people chose it for its lower emissions. Prius enjoyed more success than other cars because its design made it clear to everyone that they were driving a hybrid. This signal mattered more to buyers than the actual reduction in the emissions the car offered. You don't have to look far for other examples of this. People pay thousands for handbags from Prada not because of the quality but because of the signal it displays. Lawyers dress up in sharp suits to signal their competence and marketing executives wear beanies and shirts to signal their creativity. And most of the purchases we make are in part due to the signal that the product will give off. Alright so we've covered costly signaling, we've looked at why tattoos are a costly signal, we've understood how Toyota won the hybrid car market and why slow motion ads perform better. After the break we'll go a bit deeper. Uri will explain to me the difference between social signaling and self-signaling and why we shouldn't pay blood donors for their donations. Today's sales leaders know that expectations are at an all-time high. Beyond cold calls and closing deals sales folks they're really expected to use loads of different tech to do things like dig into the numbers, to analyze, to reach out to leads and collaborate with other teams like marketing and product. But there is a solution to help and a better way to win and it starts with the HubSpot Sales Hub. HubSpot Sales Hub unifies your data, your tools and your team inside a smart and powerful platform so teams can prospect smarter, they can grow revenue faster and they can get to deeper customer insights without using up a bunch of time. In this software you'll find new prospecting workspaces, deal management tools and AI-powered tools to help based off real-time results. With Sales Hub closing deals is no big deal. Try it for yourself at HubSpot.com forward slash sales. Okay welcome back to the show. So everything we've covered up until now has been about social signaling. The signals I give off to change how others perceive me. Now I assumed this social signaling was a new thing but I was dead wrong. Social signaling has part of our society for millennia. In fact fashion signaling was legally enforced by the Roman Empire. Dan Ariely writes in his book The Honest Truth About Dishonesty how Roman law dictated who could wear what according to their station and their class. The laws went into extraordinary detail. For example in Renaissance England only the nobility could wear certain kinds of fur and fabrics and lace and decorative beading while those in the gentry could wear decisively less appealing clothing. Prostitutes for example had to wear striped hoods to signal their impurity and heretics were sometimes forced to don patches decorated with wood bundles to indicate that they could or should be burned at the stake. Clothing has been a social signal since civilizations began but Ariely was keen to tell me that social signaling is not the only type of signaling. In fact it's not even necessarily the most powerful type of signaling. There is another type called self-signaling. Here's Ariely to explain the difference. So social signaling is like we like I discussed with the Toyota it's right to signal to other people what you are and that's easier to understand. Self-signaling is a bit deeper and a bit more confusing because basically what it says is that I don't really know how good of a person I am. I have some notion I know what I want to be but I'm not really sure and I actually look at my actions and learn from actions about myself. So if I did something good I say oh you're a great guy. If I did something bad I say well you should do better in the future. So let me give you an example. So imagine that let's stay with the environment. You see your neighbor going to the recycle center with a large bag filled with 100 soda can and say let's make it dramatic on a cold day on the ice. What are you going to think about her? She's a cool person. She cares about the environment. She's great. She could have trashed the cans. She chose to do that. She's probably going to feel the same about herself. So she would say look I'm a good person. I didn't just throw it. I really care about the environment. So that's the self-signaling part of it. So social signaling is what others think about you. Self-signaling is what you think about yourself. If you decide in the privacy of your own home to scrub your tins and you're not signaling to anyone else socially that you're a good environmentally friendly citizen but you are signaling it to yourself. This signal reinforces of you you have of yourself. But Yuri says self-signaling gets really interesting when incentives are brought in. And the interesting part is really the interaction of this with incentives because imagine that you have the same scenario but now the city introduces a 10 cent incentive for every soda can that you recycle. Again the same story. You see your neighbor going to the recycle center. Everything is the same. But now you're going to say oh she must be cheap for 10 dollars really. She collects all these soda cans and instead of just throwing them away it goes all the way in the snow and ice whatever. So you're changing your perception about why she's doing this because of the introduction. And she can also change her perception of why she is doing it. Before that she thought that she was doing it because she's a great person. Now she'll say well it's only 10 cents per soda can. It's not worth it. This leads to an interesting thought. See most of us presume that to encourage people to complete an action we should pay them. To get people to work we should give them a salary. In Europe many recycling centers pay people a small fee for returning glass bottles. In the US many people are paid to donate the plasma in their blood. But is this a good idea? Does it actually encourage people to complete that action or does it conflict with the self-signal we have of ourselves? I asked Uri. Now if you look at the market there is a shortage of blood. There is the blood bank, the hospitals, everyone needs more blood and it's a real business. So hundreds of millions or billions of dollars are changing hands with it. So the simple solution is give the donors money and they will give more blood. But then you run into the same story as with the soda can. You'll give me $50 for donating blood. I will think that I'm doing it because I'm can't show off to other people because they're going to think that I'm cheap. But you can find other ways. That's a good place where you can think about alternatives to compensating people. So you can give me $50 and say that that's to pay for Uber. Okay then it's fine. Then it's not bribing me. Then it's fair. Then it's not even nicer. You can give me a coffee mug with a blood bank logo on it. I don't need another coffee mug. It definitely costs less than $50. But then every morning I can drink coffee from it and when I'm zipping my coffee I can say, wow, you're a great guy. You've donated blood. And I can take it to the meeting, put it on the desk and everyone will see that I donated blood. So I can get these kinds of benefits of signaling with the right incentives. And I think that that's a really important lesson. The right incentive, money is not always, and actually in many cases it is not the best incentive. Paying people to donate blood probably would decrease the number of donors. Why? Because it changes how we perceive the act. Rather than thinking of ourselves as good people doing something for others when donating, we'll think of ourselves as doing it for a bit of cash. Rather than others perceiving us as kind, generous people, they'll view us as needing a bit of spare cash. Signals can dramatically influence how we act. Changing signal by giving an incentive in this example can dramatically change the action. Now if all of this sounds a bit hypothetical to you then hold on, there is a brilliant study conducted by Uri that truly shows the power of self-signaling in action. I'll hand back to Uri to introduce the study. We teamed up with a restaurant in Vienna that's close to university. It's a Pakistani buffet. People come there to eat. The interesting part about it is that it's based on something that is called pay what you want, which I worked on in other papers. But the idea is that at the end of lunch you decide how much you want to pay. So the regular way in which they did it is that at the end of lunch each person would pay the waiter whatever they felt is the right amount. Now you can think why would anyone pay? They can pay zero. It turns out that most people paid and on average they paid about six euros, which was enough for the restaurant to be profitable. Now why are they paying? You can think about signaling to others. So they don't want the waiter to think that they are jerks, so they give some money. And maybe also they get some self-signaling from doing the right thing, but it's hard to think about this separately. So what we thought about, let's do another treatment. So let's use this as a control where they pay the waiter and have another treatment in which they just put the money in an envelope, seal the envelope and put the envelope in a box at the exit of the restaurant. This way I can't tell how much each customer paid. At the end of the day I can tell you how much we received from each customer, but it's anonymous. I don't know how much you paid. So now if the expansion is that they don't want to look like a jerk, then I don't have any reason to give money. The social signal is basically lost. But what happened now is that now I'm really thinking, oh, okay, I want to be a nice person. How much would I give? And then you start thinking in a very different way. Instead of thinking how much do I have to give in order for the waiter to like me, now I think how much do I have to give in order to feel good about me? And what we found is 7 euros, if I remember correctly, on average. When they put the money in the envelope, no one saw how much they put. And the explanation that we have is that that's the self-signaling. The self-signaling got pure if you like. This study really surprised me. I've known about signaling for years. I've read dozens of studies about the bias and I've always assumed that public signals are stronger than internal ones. So I assumed that people would pay more for the meal when others could see what they pay. We want to signal our generosity. We want to signal our wealth. So being able to show our payment should increase the amount spent. But it doesn't. Uri found that people donated more when the payment was private. It's an important point. Self-signals, the signals that influence how we view ourselves, can be more powerful than public signals. Here's another example of the same concept from Uri. And think about when you're in hotels for three nights, the first morning you can leave money to the cleaning person and you might do it because you're a nice person or because you think that they will clean your room, tidy up your room better. Second night, second morning, the same. The third night, the third morning, just before you check out, if you leave money, then that's going to make you feel much better about yourself. You're just doing this out of pure, you being a very nice person. People paid more for their meal when their payment was private. It's a really interesting takeaway. And it makes me wonder, would fundraising pages get more payments if all their donations were private? Would Instagram accounts get more engagement if all their followers likes and comments were hidden? Would public transport providers like buses get just as much if not more payments if the payments were private and voluntary? Now I'm not 100% sure any of this would happen. And it is interesting there is some evidence to suggest this might work. Now clearly I have undervalued the power of self signaling. I've always assumed we act to mainly signal something to something else. But Uri's shown me how the opposite can be true. Now we have only scratched the surface of the power of signals today. As you can imagine, there is heaps we haven't had time to cover. But if you are looking to learn more, I'd recommend checking out Uri's book, Mixed Signals. It explains the concepts of self signaling, social signaling, but also much more about his famous studies on incentives. It's a really good read. And I've dropped a link to it in the show notes. Now we've all heard about the power of a self signal today. So let me ask you to consider this. Do you see yourself as an intelligent individual? Do you see yourself as someone keen to keep up to date on all the latest insights in the world of psychology and behavioral science? Well, if that's how you view yourself, then maybe you should consider signing up to my newsletter. I send it once a week every Friday with some of the best insights I've found from the world of behavioral science. To sign up, head to nudgepodcast.com and click newsletter in the menu. That is all for me this week. As always, I'm your host Phil Agnew. Please do subscribe to nudge wherever you listen and I'll be back next week for another episode. Cheers for listening.
Nudge
"accountant" Discussed on Nudge
"Imagine you are the marketing manager for Sony Walkman back in 2014. You're seeing sales for your Walkman MP3 player start to dwindle while iPod sales grow and grow. But your product team has developed a solution. They've built a new waterproof MP3 player. This MP3 player and its headphones work underwater. Brilliant for swimmers, surfers and Londoners putting up with the daily London drizzle. It is a great product but the question I have for you is how do you market it? How do you promote this product in a way that helps customers quickly understand the value while also grabbing their attention? Think for a second. What would you do? Would you show ads of swimmers using the MP3 player say at the pool? Would you up digital billboard ads whenever it started to rain to promote the Walkman? Maybe but both are expensive and neither are particularly eye-catching. They're also both a little textbook but Sony they didn't follow the textbook instead they did something truly brilliant. To promote their new waterproof MP3 player Sony packaged the product in a bottle of water and sold it out of vending machines. Seriously the MP3 was literally submerged in water. To get it out you needed to open the bottle, drink the water and then grab the Walkman. The bottles were placed at vending machines at sports centers across the country and this meant they were always seen by their target audience which was these sporty people. The marketing instantly showcased that the product worked in water and it captured attention by surprising all vending machine users with this very unusual product and unsurprisingly this campaign went viral with hundreds of articles written about the stunt. This marketing it seems like a pure stroke of genius but it is built on a fairly well-known behavioral science principle. In fact it's one I've spoken about before on the show costly signaling. Now costly signaling means the meaning and significance that we attach to something is felt in direct proportion to the expense with which it is communicated. We remember and value and perhaps buy more Sony Walkmans because of the clear costs and expense used to market that product. Packaging a product in water is hard, selling it in a vending machine is unusual and this cost makes us value the product more. Today my guest is Yuri Ganesi. He holds the Atkinson's and Down Chair of Behavioral Economics at the University of California and he explained to me why signaling like this works, why your accountant probably won't get a tattoo, how to get more folks to donate blood and how to get diners to pay more for their meal. All of that coming up after this quick break. The podcast I'd like to recommend today is Inclusion and Marketing hosted by Sonya Thompson which is brought to you by the HubSpot Podcast Network, the audio destination for business professionals. Now Inclusion and Marketing digs into important topics like customer experience and diversity and how you can practice inclusive marketing authentically. The host Sonya makes a really important point that when you lead with inclusivity you actually do win more attention, more admiration, more loyalty and you win the trust of a broader group of consumers. So after you're done with Nudge go and listen to Inclusion and Marketing wherever you get your podcasts.
The Podcast On Podcasting
A highlight from Ep388: Start With A Life Vision
"Nothing in this life can happen physically unless it happens in our minds first. Most hosts never achieve the results they hoped for. They're falling short on listenership and monetization, meaning their message isn't being heard and their show ends up costing them money. This podcast was created to help you grow your listenership and make money while you're at it. Get ready to take notes. Here's your host, Adam Adams. Hey Podcaster, it's your host, Adam A. Adams, and we're talking about your life vision. So before you press record, before you go and schedule that next meeting, before you decide to do the next thing that might be on your agenda or you might think you want to do, I want you to figure out how do you filter that through your life's true vision. And to filter something through your life's true vision, you first have to have a life vision and that life vision, just like our fingerprints, it's going to be unique for everybody. So I might share a little bit of my vision today. I might share a little bit of my fingerprint today. That doesn't mean you need to copy and imitate my fingerprint. You've got your own fingerprint. You've got your own life vision. You might not know it yet. You may not have studied your fingerprint so far, but I need you to look into the mirror look into the future and figure out what's important to you and what's not. And then we can figure out how to filter out all of the decisions through your purpose, through your vision, through what you care about. Here's a problem that always seems to happen when there is an entrepreneur or somebody like you and I who start a podcast. We go crazy and things get out of balance and that's actually okay for a while. For a short time, maybe max, depending on how out of balance it is, maybe it's okay for a couple of weeks, a couple of months, or maybe even a couple of years as long as everything fits with our vision and is filtered through our vision. Now I recently was interviewing Alex Pardo. Alex is actually a really good friend and he's been a friend for a long time and he's a client. He's been a client for years as well. Alex has a podcast that is about flipping houses and I interviewed him on the podcast and during the episode of interviewing on the podcast, he talked about how during his own podcast, there came a day that he told everybody, even though he identified as this wholesale guru, that means that he buys houses and sells them to somebody else really, really quickly, makes a good profit. He doesn't have to do all of the fix and flipping. He doesn't have to do all the work. He has a lot less of the risk and he's able to make a good pretty penny. Now Alex was passionate about real estate because real estate investing is a great vehicle for most of us. For most of us, we ought to have a business that is going to support our lifestyle and we ought to be putting that extra money to work. I was actually at my parents' house and my stepdad, who's the one who got me into real estate investing a long, long, long time ago, it looked like this. My stepdad told me from the time I was about eight years old that I needed to save 10%. I needed to pay myself first 10%. I needed to invest 10 % and I'm like, freak dad, you know, you pay me a buck an hour. If I save 10%, invest 10%, donate 10 % and whatever the fourth one is for 10%, I can't think of it right now, I'm going to have 60 cents. What can I buy? Even back then, it was barely a candy bar. And so I didn't believe in it. I didn't do it. I didn't follow what he told me, even though it was freaking wise advice. It wasn't until college that I got into real estate investing and it wasn't even my idea. He gave me a gift. I don't remember if it was a Christmas gift or a birthday gift, but that year in 2005, before graduating college, like in the middle of college, actually, I did six years to get a small degree. I'm not a doctor or anything like that, but I did six years to get a small degree because I kept changing my major. Anyway, the point is that he gifted me this cabin lot and I was stoked to finally own a piece of America. This was the beginning of my American dream. I never did it before. I never believed in it. And I recall as a college student, a struggling college student about to get married and all that stuff, I didn't have a whole bunch of money and his accountant turned around and said, wait a second, you can't just give him this property or else you're going to pay a whole bunch of taxes. He's got to pay for it. So I ended up paying a hundred bucks. It doesn't sound like a lot, but I was in college as a bartender, preparing for a wedding and I didn't have a whole bunch of money. I didn't have a lot of money. I put all of my money, went to books and food and rent. My dad gifted this to me. I was so stoked. And then I got the call, Oh, Adam, you're going to have to pay for it. How much dad? A hundred bucks. Now to you, this sounds miraculous. To me at the time I was like, how am I going to do that? You know, cause like you're not a good gift receiver if you don't follow through with all this stuff. How would that have looked on how ungrateful would that have looked if I didn't do it? And so I found a way to get the a hundred bucks together, paid my dad and I was talking to him recently. He forgot about it. He forgot that he made me pay for him, pay for the thing. Cause I think it was such a small amount. There's a reason there's a purpose for me sharing this. Anyway, I sold that property two years later and made more money than I would have made in the first year of graduating with my degree. My degree was music education. I wanted to be a band teacher. I wanted to teach kids my passion, which my passion at the time was absolutely music. I composed music. I was that young kid. You could almost say a prodigy, but I'm no Mozart. I'll tell you that much. But I was that young kid that took to this thing, although I wasn't really any smarter than anyone else, I kind of put my nose down and this became my favorite thing. And then I sell this piece of property and I'm thinking my freaking stepdad is Ben Wright this whole time. Ever since I was eight years old and I was working for him for a dollar an hour, all of that stuff that he told me was true. I read this book, Rich Dad Poor Dad, and Robert Kiyosaki says in that book, you need to have a business and you need to put your money aside. And I said, hey, you know, I might not have believed my dad when he told me this, but now that Robert Kiyosaki, some author, is telling me the exact same thing. Now it's true. You know, now I can believe it. So I started following my dad's advice in college. I start my business. I'm netting $20 ,000 a month as a kid in college. And it was amazing. And I start investing. I buy an apartment. I buy a small triplex, a three unit multifamily, my first multifamily asset. And I start working on this. And then it goes through some trouble during the downturn of 2008, 9, 10, and 11. And I'm afraid of it. And then my dad comes. I'm living in Denver at this time, and he drives out to Denver and we go to a real estate conference together. And dad tells me to come, he'll pay for the whole thing. So he pays for my ticket. And then I'm seeing that real estate really is amazing. So I'm stoked and I get involved and I start doing some really cool transactions. There was a guy that funded me, his name's Steve. He ended up funding everything and I did all the work. So I didn't have to come out with any of the money. And he didn't have to do any of the work, any of the hard part. So it was a win -win. And one thing leads to another. And I end up deciding in 2015 to be completely full time. My now business, because remember, part of what we're talking about is it's really helpful to have a business that pays you and then to invest the difference in something else like real estate investing. And I have this business, it's going great and I'm excited. But here's the problem. I stopped listening to my dad. I don't know why, but I do. So you remember the save 10%, invest 10%, donate 10%. And I think there's another 10 % that I just can't think of while I'm recording this episode. I'm not paying myself first. I'm not putting money aside for a rainy day anymore. I'm making so much money in my businesses, 2000, 15, 16, 17, 18, 19. I'm making so much money. And as new money, think about it as new money, new money, you never had it before. You never could afford all of these things. And now you've got the money and you want to get everything that you thought.
The Bitcoin Podcast
A highlight from Lefteris Karapetsas of Rotki | Private Portfolio Management
"Hey welcome everybody back to hashing it out and we're about to hash it out with the founder of Rocky Lefteris. How you doing? Hey happy to be here. Good we're all happy to be here we're gonna roll right into it man let's let's get past the you know the standard issue questions of you know give us a little bit of your background and I know we'll take it from there. Yeah so I'm Lefteris I worked in this field since 2014 I think. I worked with Ethereum Foundation on the Solidity compiler and then in the C++ client then I worked on with Christoph Jensson on the DAO which is what closed the fork in Ethereum. Some people may know it. That guy. Yeah that guy. The good old days. Yeah and then helped like three worst months of my life to clean up the mess of what happened there and later I worked in Rider Network which is what is the lightning network to Bitcoin. This is what riding was supposed to be for Ethereum but I mean it worked it still is there but it didn't gain them. Now we have rollups in Ethereum it's the preferred L2 method but in the meantime I also started Rotki which is the portfolio tracking and management tool that protects your privacy. It's a local application that just does tracking and managing your funds. What motivated you? I remember you stopped with Raiden and then you took a hiatus for a bit and then you came back and started a portfolio application. What motivated you to switch to that? Why did you like I'm gonna do portfolio like a portfolio application I can understand and we'll get into this the local first mentality of what Rocky is supposed to be and is. Why portfolio? So the funny thing is that it's not a I didn't stop riding and then go into it exactly. I had the Rotki since maybe after a year after I started working Raiden in but it was just a side project and what motivated me to do it was that I just wanted to do my taxes. It was like pretty simple and what were the choices back in 2016 to do your taxes? It was nothing it was just Bitcoin tax that's what I remember and then I was like okay so I don't waste any time what is Bitcoin tax I go Bitcoin tax where is the application where is the link to download an application there is no such thing you just give us everything and we calculate and that sounded absurd to me that sounded just crazy and so I just made some scripts that helped me calculate what I think I should have paid and then this how Rotki started this script slowly slowly became into what Rotki is today. I guess a question would be like what regions do you support because what I understand you know tax code is different from region to region from country to country so how does it do that? That's a very good question we don't officially support anything the idea is that taxes are very hard and we want to make a tool that is customizable by anybody so we want to support as many rules so to provide configurability to the user so that they can just customize the tool to their needs but we I mean to be correct we would actually have to be tax accountants to be like 100 % legal and have tax accountants that work with us in every single jurisdiction and that alone is a fit to manage to have CPAs in the US and the equivalent in the Great Britain and then in Germany and Netherlands Italy everything it just becomes unattainable especially for a small open source project so we went with a process that you just configure it yourself so we talk with accountants we talk also with people to understand their needs and try to make it as configurable as possible. So there is some aspect of I go to I don't know Rocky's website and I can download the actual application but then there is some sort of consultancy that needs to happen that's human to human? Yeah pretty much so like you you need a tax accountant like we don't know tax accountants you would need someone to ask them what are the rules in your jurisdiction and then you need to configure it appropriately if your jurisdiction doesn't have a configuration that we can do then you talk to us and we will try to do it. Wow so how does it manage all the different or how do you manage all the different financial situations that you can get yourself into with crypto like staking and getting staking rewards and I don't know an airdrop hits you out of the blue you know yay some money like how do you account for those things and how does Rocky do? It's different one so each one is a different scenario like every single one of those is different for example in Germany airdrop is considered I don't remember the word right now but it means that it's just airdropped but if it's really airdropped like it's not taxable just you just came up with some money and that's fine okay good for you but that means if it's really an airdrop if it's something that you have to do something for then that is different. Of course I'm not a tax accountant. This is like a thing that you have to put we actually have it in Rocky when you download it but each one of this is a difficult thing that we have to add new protocols new new situations so like Ethereum staking was a lot of work to add support for but then for example Ethereum staking is like Gnosis staking so Gnosis staking will hopefully be easier then there is Uniswap right and then there is all the Uniswap forks that take the same kind of approach so it's easy to do something that is based on top of a common format but then if it's something like Solana for example that's totally different it's a different one or now with the new stuff like maybe Starkware so like you really need a lot of work there and this is why we go for open source because we can't do everything wrong.
Crypto Altruism Podcast
A highlight from Episode 123 - Dream DAO - Empowering Gen-Z builders with Web3 to regenerate the planet
"Dreamdow comes from this place that the kids will lead. When she was training all these young people to change democracy and government, they realized that there was not many people investing in having 15 to 20 years old in the web3 space. When you're at that age and you're in this world, in between worlds where the internet that you're using and all the things that you're using, you had no contribution in creating it. And the generation before you did, to have an ability to co -create and develop the new version of that, that's one thing that is super exciting. 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 opportunities investment or any opportunity, including its legality. And now, let's get onto the show. Welcome and thanks so much for joining. Youth are the leaders of tomorrow. This is a saying you've probably heard many times and while it's true, I also believe that youth are the leaders of today. After all, we've seen so many movements of change led by young people, whether it's climate justice campaigns or the civil unrest in Iran following the death of Masa Amini. Youth are the leaders of today and it is important that they have a seat at the table and are given the opportunity to, well, lead, including in new and emerging spaces like web3. For today's episode, I'm excited to welcome Amanda Maritan and Sean Patel, co -stewards of Dreamdow, a movement that gives Gen Z the funding, mentorship, and training to contribute to web3 projects that regenerate people and our planet. We discussed their innovative program that has helped onboard pioneering Gen Z leaders to web3, why young people should get excited about blockchain, their incredible Skywalker Z NFT collection, how web3 technology can help regenerate the planet, and much more. So without further ado, please join me in welcoming Amanda and Sean to the Cryptoaltrism podcast. Amanda and Sean, thank you so much for being here. It's a pleasure to have you on the Cryptoaltrism podcast. Hi. Thank you for having us. Thanks. Excited to be here. Yeah, for sure. I'm excited to have both of you here and to learn about the great work that Dreamdow is doing. I've been following it for quite some time. I think it's such a great mission, so really excited to dive into that. Before we get there, I'd love to hear about both of your stories of how you got into the world of web3. It's always just so interesting to hear everyone's unique journeys to this new and innovative world. So maybe we can start with you, Amanda, and then I'd love to hear your story, Sean. What was your aha moment that got you excited about web3 and crypto originally? So I joined web3 through Dreamdow. It was co -founded by Civics Unplugged. So I was part of the Civics Unplugged fellowship. It's like a leadership democracy fellowship of three months. And then after that, I realized that they were launching Dreamdow, it would be used like this emerging technology and also like social impact and democracy. And it would be really nice to explore. So I applied and I got in and I didn't know much about web3 actually. I was never like this very tech person. I know like how to do things in your computer and all that, but I never actually tried to get more knowledge. And I was like, okay, maybe it can work, but maybe not. But they were actually very nice in giving us confidence to just join, even though you're not like very tech savvy. So I joined and I began, you know, contributing to the DAO, just helping actually build this learning journey that we were going to do. So all the offerings that we have for builders to learn about web3, we were actually building during the first season. So I was just actually getting engaged on that. And it was how I actually began, you know, working in web3, like as a part time thing. And I think my aha moment was when after all of the things that we did with Dreamdow, they decided to like reward all of the builders, like for the time that we spent building things in there and creating. And they also began organizing like these travels for conferences. And it was when I realized that it was actually about us Gen Z, like young people, they were actually going to support us. And when I joined Climate Collective through an internship that Dreamdow matched me, we were mapping all this like refined projects and there was like so many different ideas. And it was when I was, Oh my God, this is really exciting. You know, it's something that you definitely will change because not just because of the technology, but also because of the creativity and the innovation that is in the entire space. And yeah, it's been really excited about it since then. Yeah, totally. And I love that because too, you mentioned there around the, you don't have to be like a tech savvy person to be really, to succeed in this space, right? Cause I'm certainly not, my background is not in technology, but really in web3, you know, no matter what your background, if you're in business and artists, legal, you know, marketing, whatever it is, there's a place for you in web3, right? So yeah, that's amazing. And it's great to hear about the excellent experience you have with Dreamdow too, which I'm excited to dig into a bit later on. And so Sean, I'd love to hear your story now. Yeah, of course. So my journey started in 2018, about then, when I had started my first year in university, studying environmental economics. And I had started my first semester doing research for one of my professors and honestly, you know, going into academia and just being like really immersed in doing research, especially when it came to how to incentivize sustainable decision -making, you know, it was a big task and I seen how many hurdles my professor that I was researching under had to jump through just to like get a little bit ahead and get a little bit more funding for her research. And yeah, it just, it was really frustrating for me because her stress kind of overlaid on to me and everything kind of came full circle at that point where like something that I was really, really interested in and really thought I was in the right place, right, then kind of got dismantled because I was like, okay, a lot of politics involved, all these things. And then a lot of overall inefficiencies in terms of the actual application of that research, even if it's reputable. And so yeah, they say I look for ways in which to disrupt my professor's research, but also it was kind of just a random occurrence in that fact, right, where I had always known about Bitcoin because of a trend and it came to a point where really it was understanding that that was the space, not only Bitcoin, there's a lot that's happened in even like those past three years, whether it had been from 2015 Ethereum and understanding what has come next. And so it was a lot of trying to find ways, like new ways to disrupt basically incentivization research. And that was kind of the aspect that drew me in where at first, what my part of the project was, was how to track individuals' consumption and basically put nudges in their daily life or whatever it might be to get them to reduce their consumption. And a big part of it was just me trying to go through a supply chain and understand things and then seeing all the fragmentation and stuff, I'm like, oh, well, now I'm trying to solve a second or third order problem. And it's really taking away from the main research aspect that I was expecting to enjoy a lot. And yeah, and that was kind of what pulled me in was, I guess, not even the sustainability implications of using blockchain, but it was purely the fact that programming our values into financial services was a possibility. Because what I saw was my professor who was an academic and people I got interested and introduced to in the space of Web3 were practitioners. And I saw both very smart individuals, but very separated by a big gap. And it was just that kind of thing where I had to dive in like everyone kind of did and get pulled down so many different rabbit holes of just experimenting per se, because there is no like absolute kind of fully functioning use case in that sense. So a lot of exploration for a lot of years had not invested any money, very small amounts like pennies to dollars and just to be able to test and experiment with things. I think the coolest thing was at the time of studying economics, you had a place in those economic experiments, rather than doing it on real people and like a case study or something. And then nevertheless, overlaying the environmental aspect. So I think the idea of provenance and tracking things faster than our source and not having any of that right now, then the opportunity to have that in the future was like profound for me because I was like turning, becoming more vegetarian at that point and everything. I wanted to like know where my food was coming from and stuff. And I'm like, Oh, which way to solve this? Oh, you know, watching and ended up being this kind of just like deep rabbit hole. And then finding myself kind of in that Dow space, understanding that like this can be something that's developed only by a select few people because you started seeing that in the beginning. A lot of corporations kind of just coming out saying they have their own private blockchain and that's good enough. And I hate it always hearing that kind of good enough kind of saying. So yeah. And then I had the kind of opportunity by exploring the Dow ecosystem by finding my own Dow and it called EcoDow to then have the opportunity to just like be in New York and be in that area and randomly meeting Gary from Civics Unplugged, just like at a coworking session. And yeah, I mean, it was that kind of serendipitous thing where like, we all had made those same decisions and came to those same conclusions from our own personal experiences. Then we ended up finding ourselves in that same place. And it was ultimately like a trust, a meaningful sense of trust that like we didn't have to really build, it was already there. And DreamDow kind of showed me that value proposition from the inception. Even before DreamDow had launched, Amanda could say like at Civics Unplugged, there was this moment where that transition was happening for a lot of people and no one knew what to expect. I think that was the biggest thing where I was also like 20 years old. So I was between the cutoff maybe for being a builder or a mentor. And so it felt weird for me too, to be still in university and then like supposed to be a mentor. And I'm like, I need a mentor myself. You know, and yeah, it was a beautiful experience in that sense that like we didn't know exactly what we were getting into. There was a rough guidelines that Gary had designed in terms of like having DreamDow be his brainchild, but it wasn't only him. It was a lot of inputs from the builders that were Civics Unplugged members and also just people around him, his friend network, my friend network, and that was a beautiful thing. I think it was a beautiful arrangement of cross pollination between different orgs in and outside of Web3 that made DreamDow possible. And it ended up bringing a lot of unique people from different backgrounds together. And I just tell my friend today that like, even though maybe things have changed in the ecosystem of market and things, it's like one thing that has at least stayed true to the experiences and the meaningful relationships that have been fostered is still there with DreamDow in a lot of ways. And even just Amanda, knowing her for this long and the expectation that it would have been for something else, you know, it's the kind of thing that we didn't have any expectations. Right. And so then what kind of manifests it, whether DAOs didn't work out or they did work out, or they're still trying to get worked out, a lot of benefits came along the way, especially because it was all focused on funding public goods and DreamDow being the public good and that kind of influence from Gitcoin people and stuff. Like, it's really just been a great opportunity to get to this point in the space. At first, that was my main intention. And then I got lost down all the rabbit holes in the space. And then as coming to DreamDow and now to present, being re -centered and reinvigorating that original conviction, it's hard once you go through the ebbs and flows of different cycles of the market and stuff, you get tossed around. But it's nice to still be here and have that original conviction, let's say five years ago. So, yeah, it's been a fun time from that first aha moment of just like, how can I disrupt my professor's research? Yeah. Yeah. It's funny how that happens, right? You like first start by looking at one thing and then you kind of go down this rabbit hole and you see all these other kind of use cases and discoveries. So, yeah, I can totally resonate with that. And, you know, it sounds like DreamDow has played an important role in both of your Web3 journeys. So I was hoping now, like, I'd love if you could just give an introduction for listeners who aren't as familiar to the mission of DreamDow and Civics Unplugged. Yeah, of course. So DreamDow comes from this place that the kids will lead. So when she was training all these young people to like change, you know, democracy and government, they realized that there was not many people investing in having, you know, 15 to 20 years old in the Web3 space, right? Because usually you need to have some sort of experience and previous knowledge to join either as like working or as a builder in the whole space. And they thought that why we don't do this on boarding and then we train these people and give them like their first opportunities like mentorships and internships and all like help them to build this network. So that's what DreamDow has been doing since it was launched in November 2021. We are investing in the future of Web3 social impact ecosystem by training, funding and mentoring and giving opportunities for Gen Zs, specifically 15 to 20 years old. People are still in high school, beginning college or in gap years so they can discover this whole Web3 space and find ways to leverage, you know, use the technology to leverage the world. We really believe in the solarpunk movement. So how we can, what we can do right now to reach this point, you know, in the future. And we thought about bringing the people who will lead in the future because right now we have, you know, other generations building the Web3 space and innovating and doing all these things, but in the future we are going to lead and I hope I'll be leading as well. So, yeah. And then we just have this intergenerational learning community between like, you know, other generations who are the champions and also this Gen Z builders. So we just have all this knowledge exchange and it's a place not for builders to learn and champions to teach, but also, you know, vice versa. I think Sean always talk about this, about how you get in here expecting to like teach someone about it and then you also learn about it. And I think that's really interesting. So it's like this whole community of having people learning about how to use the Web3 and like the ReFi space so we can, you know, change and do things like that, improve our system and, you know, that makes the world a better place and more sustainable as well in that sense. I love that. I think that that's such an important mission. And, you know, like we said, too, that it gives people a chance to kind of figure out and, you know, experiment in Web3 and learn about the space in a very accessible way. Because I think that, you know, at that age, you know, 15 to 20, if you think about that, you have to make a lot of big life decisions. Right. You know, and often you're like in the moment, OK, what do you want to be? You're in a university, you're going to be a doctor, a lawyer, you know, an accountant or whatever it is. Right. And it's a big decision. And then, you know, having something like this that gives you a chance to kind of experiment in an area, learn about it, see if it's something that you want to like really dive into is really, really powerful. And so, you know, the focus is obviously on Gen Zers of DreamDot, which I think is great. I'm really inspired by just the work that, you know, so many young folks in Web3 are doing. So why should Gen Zers care about and get excited about Web3? I think like the one thing that Amanda was highlighting in the fact that there's this opportunity that's given, right, that is not really like an open opportunity. It's a lot of kind of experience has to come with just trying to like get some position of, you know, contributing on a structured basis in the space. We actually now have like this opportunity, right, to not only disrupt that way of like working, right, but disrupt just education in general, right? That like how you were saying, you know, a lot of decisions have to be made at those young ages. And is this type of thing where it shouldn't have to be so deterministic, and also just like discrete to what you have to do, per se, instead of like having a learning experience be something that's more perpetual, rather than something that, you know, you do till you're 18, or you do till you're 20, and you finish your university or whatever year, and then it's like, it's over. Right. And I think that's something that like Amanda has benefited from in the sense of like, okay, there's not even like more to learn about, but that like, the learnings don't stop, particularly. And then more so, it's even more relevant, because when it when you're at that age, and you're in this like, world in between worlds, where like, the internet that you're using, and all the things that you're using, like you had no, like, contribution in creating it, right, the generation before you did. And, you know, there's a lot of things that are being pushed on you, whether it's what you have to do in terms of choose a career, choose what you study. And then also, just all the things you use in your daily life, right, to have an ability to co -create and develop kind of the new version of that, whether it just be the internet, or how you learn, right, and how you educate yourself, like, that's one thing that is super exciting, because like, yeah, like teaching yourself has been always something that's been valuable. But now it's even more like, I guess, emphasize with there being like, this kind of open source space that is interfaced with like, a more friendly experience for kind of everyone, right, even though the space had been like, highly technical, that was like, somewhat maybe a barrier to people that were just getting started adopting it. There had been so many new avenues opened up, right, for someone to come in from like, any vertical, right? Like, we're just lucky, actually, in DreamDell that, you know, the vertical have been civic innovators and young social entrepreneurs, and they cared about it on like, a deeper level rather than just like, what they can kind of get out of it, right. And so that was like, something that is getting, I think, ever more so exciting, right? It's just being able to see how the kind of the impact not only happens from the value capturing that you see is there, but now like coming in and like, okay, how can we create more value? And that happens from an earlier age. You know, I think we all wish in some ways we got in earlier or whatever, but it's more of just, you know, age component, right. So I think I've seen all these builders, been able to gain more that expertise I could have ever in that short amount of time, especially at that time in my life, right. So it's just, yeah, the hope is, I think that the most important thing when it comes to that, right, just getting excited about all the hope that gives us for moving forward, right, especially in these, like, very, very uncertain times, when anything can happen. Yeah, totally. And I think, you know, some you said there, too, that, you know, really stood out to me is I think, you know, these Gen Zers, these 15 to 20 year olds have grown up with this technology that they had really no part in creating, right. And there might be some value misalignments, right, with this technology and them, you know, like, you know, you've seen what's happened with traditional web to social media, and the breakdowns of trust and, you know, lack of transparency, and, you know, those sorts of things, and then being able to have the opportunity to right the wrongs of, you know, the past internet and build a new, you know, more internet that more lines with their values, I think is really powerful. So I think that's a great point that you made there. And we'll be right back after this short message.
Accelerate Your Business Growth
Creating your Rock-Solid Business Model
"I do lots of things, but I tend to lead by I'm a business coach. I also do leadership coaching. I do personal coaching. I do relationship coaching. I'm a problem solver, a creative people problem solver. So I can turn my hand to an awful lot of things that I've developed skills with over the years. And someone who can fix one thing can fix many other things. But it allows you to pick and choose if you're focusing and marketing. The one, two or three things that really drive your revenue, rinse and repeat, so you're not inventing the wheel every time. And that I think is what is so key is if you have to go through two different process, say, for example, even if you're a Web designer or, you know, every every Web site will be different. Every client need it will be different. But you're still so probably working on small, medium, large Web sites for your size business. And there's a rinse and repeat process for small, medium and large Web sites. It doesn't mean there won't be a curveball project you'd love to do and do do. Yeah. But you don't market on those just because you did one. Not until you've done you know, until that becomes your new bread and butter flagship offer. And then you might lead on that. But also clients or customers tend to have a lead in. There's the low cost entry level product that gets them to know, you know, to try you out, know you like you, trust you, that old formula. So very often what you want to do is market on the lead in product. But you have to know there's a natural progression from that to the high ticket product. I've met businesses where they have that entry level product, but the high ticket product is so unrelated, then a customer is never going to make the leap. Ah, that's interesting. That's very interesting. And when you were talking about, excuse me, like the Web designer, one of the things that I was hearing is you may have small, medium, large, but your system and your process for all the small is the same. You're not reinventing every single time someone reaches out to you or, you know, you're talking to somebody. And because I find a lot of small business owners, that's what they do. Each one is unique. So each one has different pricing. Each one has a different process. And it just feels like it's so much work. Well, this is one of the another of the classic mistakes I see over and over again is a business owner will have an idea, that thing they love to do, and they'll try and sell it and they'll sell a few, but it's not quite working. And it's certainly not making the money they need it to make. So what they do is they've got one product not quite working. And the marketing is not really driving it well enough. So they bring in a new product that they start to push and market. And that doesn't quite work. It doesn't quite fly because the business model isn't right for that either. So then they bring in a third and then a fourth and then a fifth. What they end up with is essentially, if you like, five different businesses or business models, none of which work rather than getting one right and then tearing something more advanced over the top and something else over the top. I mean, my business evolved by tearing things on top of each other. But I got one so I've locked in and established and successful and then brought in something else that related to it. And clients tend to end up using all three of my services over time, which is the business, the leadership and the personal coaching. Right. Right. Yeah. Oh, that's so interesting. So you define your model and work that and then don't. I mean, it sounds to me like once you define your model, then that helps keep you focused and in one line instead of jumping around and trying all those different things. Yeah. So, for example, if you're in construction, what's the bit of construction you do best? Is refurbishments? it Is it modern bills? What's the thing that you really enjoy and specialize in market in that? It doesn't mean if someone comes along going, I've got a different type of project, could you do it? You turn it away. Right. Right. Yeah. But it's like that mindset of, oh, but I can do all these things. Good for you. But what's your thing? What's your sweet spot within that? So if I just give a little story, a simplified example of that, when I was just taking a bit of a breather from the leadership coaching and I was having a rethink because I'd moved, I decided to move my business locally and I couldn't see how to replicate what I'd been doing in London, in a big city. And so I was just doing life coaching and I'd do some networking to promote it, just going to local networking events. And at that time, there are a lot of other life coaches and they would tend to stand up and go, I can help you get fitter. I can help you have a loving relationship. I can feng shui your house. I can help you have a happier life. I can help you be richer and wealthier. And they'd end up listing so many things they could do. I could see people glazing over, losing track, but also losing confidence in what they were really good at. Now, you know, much of it is still just coaching, but I thought I've got to do something different. So I said I would stand up and say, most of us know someone with a relationship that isn't working. I specialize in how people fix their broken relationship. And people would still come up to me afterwards and say, actually, my husband's got depression. Can you help with that? Or is it a career change? They'd come up and talk about other things that I was perfectly capable of working with, but it was the confidence and the clarity of message that gave them confidence. That is a great example. Wow. Thank you so much for sharing that. It shows the real value in just offering one thing and letting people that ask you questions. And as you evolve, it can be one, two or three core areas. And people start to get confused with more than three things. I know I do. My sister told me they call it the magic rule of three, that people can maybe absorb five things, but it's really three is the sweet spot. I do so much work in threes. My clients, if they listen to this, will be laughing. Here's Martin and his threes again. I occasionally let them go up to five. But after that, it's a no -no. Yeah, it's too much. It's too much. And it makes it easier for everybody. So let's stay there. Oh my gosh, Martin, I love this information. I think this is clear. You share it so well and so that it feels simple. I know it's not necessarily simple, but the concept is easy to absorb and understand. Can I jump in there? Yes. Going back to that first circle, what gives you edge? And you saying I've made something really quite complex, so simple. Yes. When people think through what gives them edge, what gives them competitive advantage? And often there's that look of terror in a client's eyes when I say, you know, we're going to look at what is it you've invested time, money and energy in that makes you completely unique as an accountant or whatever they're doing. And they think, well, really, I'm not doing anything very different. But then when we look at the experiences they've had, the years in business, the type of specialist areas, the courses they've been on, the kit they have bought, but also then their life experiences, what they've done elsewhere, previous jobs. They may have, say, a lot of knowledge of the construction industry because they grew up with a father who was a builder and they had friends or they've been in that industry as an accountant. And then you find out actually they've got a real knowledge of a different industry that can give them a specialism that most accountants may not have. And so, for example, as a coach, my first career as a product designer and one of the things you're meant to do as a designer is make the complex simple and easy to understand. And I used to do product design. You have a lot of complex bits of machinery and casings and dials and things you've got to figure out and you've got to go, which bits do most of the work? What does the user need to see on a screen or an interface? Which buttons have to stand out more clearly than others? How do we make this simple, quick and easy to understand? And so what I've done is spend 20 years figuring out how to make business and leadership simple, quick and easy to understand. So yes, it's simple, but it took me 20 years to figure it out. Yeah, but that's your thing, right? That's what gives me edge. Yes, exactly. That's right. I love that. Oh, my gosh. Well, thank you. And will you let the listeners know how they can find you and whatever you've got going on that you think they should know, please? Yeah, absolute pleasure. Yes, if they go to businessjetengine .co .uk or .com, either work, and they will find various free tools and resources on my website, on my home page. They can find my socials and connect with me on LinkedIn and Facebook and Instagram. And yeah, if they go to my website, they'll be able to either get in contact, sign up to a newsletter or get some free downloads. The business jet engine we didn't get on to, which is how you plan against your business model. You put plans in place to go. If I want to be where I propose my numbers should be in a year's time, two years time, let's diagnose my business and look at what are the one, two or three things in my business to really change to get me there to focus on. So that's all about focus. So if people go to the website, there's a free download that will talk them through all of that. So yeah, be great if they want to do that. I'd love them to connect with me in whatever form. Be awesome. That's so great. Thank you. I'll make sure that that is in the show notes. And so, as I said, thank you, Martin and listeners. Thank you. You are who we're doing this for. Thank you for tuning in to this episode of Accelerate Your Business Growth, a production of Evergreen Podcasts. Discover more episodes of this podcast and explore others at evergreenpodcast .com. As always, continue to prosper and be curious. And if you're looking to get your sales strategy headed in the right direction, pick up a copy of Succeed Without Selling on Amazon or wherever books are sold. Until we meet again on another episode of Accelerate Your Business Growth, goodbye and good day. I go with one of the most scrutinized jobs in the executive suite, the chief marketing officer. Guests from all over the business world join Mike Linton, a five -time CMO, to share stories about what it's really like in the marketing
Crypto Altruism Podcast
A highlight from The Web3 Nonprofit Episode 3 - Black Women Blockchain Council
"We feel that as we're building this ecosystem, there's a need for so many different hands to be involved so that we can build it the right way. I see blockchain as a revolution. I see it as an opportunity to rewrite the wrongs of the past, or at least try to start with a fresh start and create opportunities for everyone and not just a select few in tech. Hi there, welcome to the Web3 Nonprofit, a special 10 -part crypto -ultrism podcast series exploring stories of nonprofits who are leveraging Web3 technology for good. My name is Drew from Crypto -ultrism .org. In this series, we will chat about the highs and lows of being a nonprofit in the world of Web3 and how organizations of all sizes can leverage this transformative technology to grow their impact. So let's dive right in. Welcome, welcome to the third episode of our new very special 10 -part podcast series. In each episode, we will be highlighting a different nonprofit organization that is innovating with Web3 technology. Now before we dive in and welcome our guest, I want to give a special shout out and thanks to Endowment for their partnership in helping bring this to life. So before we get started, I wanted to share a special message from their team. Hey, it's day. So as you know, Endowment lets you gift over a million US nonprofits and thousands more globally and you probably want to support a lot of them. You might be like, I want to support five different organizations. Does that mean I'm going to get five different tax receipts and have to bring them all to my accountant? And I've got something that I think can help. It's called a donor advised fund. You might hear it sometimes called a DAF. Think about it as your personal giving account where you can make one donation and get one tax receipt. Oftentimes you can write off the full amount and then take your time. You can grant to those five orgs, 10 orgs, however many you want all from one place. And because Endowment funds are all on chain, they're faster than traditional DAFs, they're way more affordable and they're transparent. You can follow the money all the way to its destination. So if you're ready to simplify your giving life, go to app .endowment .org and click the start of fund button. And now a word from Larry at the lawyer box. Endowment does not give financial advice that is a job for a licensed tax professional. I love that. Definitely head over to endowment .org that's E -N -D -A -O -M -E -N -T .org to learn about their incredible work. Okay, now the moment we've all been waiting for. For the third episode, we're excited to highlight the work of Black Woman Blockchain Council. An organization incredible with a mission to create a safe space that inspires, trains and activates a talent and economic pipeline of Black women pursuing professional and entrepreneurial careers in blockchain and fintech, including inspiring and educating the next generation of diverse and inclusive blockchain leaders. Today, we welcome to the podcast, Olayinka O 'Danneran, founder and chairwoman of Black Woman Blockchain Council. So let's dive right in. Okay, Olayinka, thank you so much for being here today on the Web3 nonprofit podcast. So excited to have you. Thank you very much, Drew, for having me. I'm excited to be here with you as well. Yeah, yeah, for sure. And, you know, really excited to learn about the fantastic work you're doing with Black Woman Blockchain Council. I've been following it for a while now. You're really doing some really great stuff to just build up, you know, inclusion and to make sure that it's a really positive space to build in. And so to start things off, I'd love to hear your story of how did you end up working in the nonprofit sector? Well, I have to go back a journey to how did I even get involved in the whole blockchain space, right? Yeah, yeah, for sure. So it was around 2015, I wanted to do a startup and I met up with a guy that I had reached out to simply because his name was in a magazine that I was reading about a local startup and she had referenced his name, so I was like, okay, he must be a great person to reach out to. I ended up reaching out to him. We met in D .C. and he was talking about Bitcoin and every time that we met, he kept talking about it. So it piqued my curiosity and I started going down the rabbit hole and fell in love with the technology more than the cryptocurrency and actually got myself involved in the ecosystem as an educator through Black Women Blockchain Council since 2018. That's been going as a benefit LLC, but more for for profit. We really wanted to build a lot more programs in this space to provide access and resources to the black community, especially black women in this space and young girls as well. And so we figured going the nonprofit route would make sense for us to be able to tap into our networks and get them to feel incentivized to donate money so that we can bring a lot more of our programs to life. And that's really how I got involved in 2021. We started Black Women in Blockchain and since then, it's been a great journey that we've been going through. We've had several great sponsors and donors of our effort and brought forth some programs and we're looking to bring forth some more. Definitely. And I'm excited to learn more about those programs, including the training and mentorship and stuff that you offer. I think that's so important and I'm really excited to hear about that. So maybe to start things off, can you please just like at a higher level, introduce listeners to Black Women Blockchain Council, including your mission and impacts? Yeah, so Black Women Blockchain Council, we're here to provide education and awareness about the blockchain technology. Our goal is to make sure that no one gets left behind in this ecosystem that we're building and that there's plenty of resources that are presented to the Black community as well as underrepresented communities within the space. So that way we can continue to grow and really create solutions that can be social impactful. I love that. And I want to dive now a bit more into your programs and on your website, you mentioned how your organization is committed to empowering Black women through comprehensive training, mentorship, networking opportunities, and visibility programs, which is great. Love that, super important. So tell me about the programs you offer. Tell me more about this. Yeah, so we have educational programs. We have a two -track certification program that we created with ConsenSys, which is part of the Ethereum Foundation. They're a huge organization out there and they're really diving in into helping a lot more people get involved in the blockchain ecosystem, in particular, the Ethereum blockchain ecosystem that they're working under. And so with them, we've been able to create these certified programs to allow individuals to one, understand the foundation of blockchain, two, dive deeper into the realms of being a developer. In this space, there's still a lot more people that are just understanding the basics, but not really understanding how to create the technology or build the technical code, I should say, the technology, right? So we want to make sure that women in particular have access to that. And our goal is to bring on board half a million Black women blockchain devs. And that's an ambitious goal by the year 2030. We feel that, you know, as we're building this ecosystem, there's a need for so many different hands to be involved so that we can build it the right way, right? I see blockchain as a revolution. I see it as an opportunity to rewrite the wrongs of the past, or at least try to start with a fresh start and create opportunities for everyone and not just a select few in tech. I love that. And, you know, that's something I've heard consistently when I've spoke with builders, you know, especially builders from communities have been like traditionally excluded from like traditional tech circles and those sorts of things is that like, it's almost like this feeling of like it's wet cement, you know, we can just kind of build from the ground level, have a say in the development of this new ecosystem and learn from the mistakes of web one and web two and build from that and build a more equitable ecosystem. So really appreciate the work that you're doing. I think that's fantastic. So let's say that there's someone listening right now that wants to get involved in that course or take part in the certificate program. How would they go about doing that? Yeah, they can go to our website, bwbc .io and click on BWBC Academy. That will take them directly to our LMS learning management system that we've created specifically for this course and also for individuals to interact with others who are taking the course. They can do it that way. Or they can go to community .bwbc .io forward slash sign up and they'll be able to quickly sign up for the course that way, too. Very cool. I love that. And so you mentioned earlier that you're a public benefit LLC, a nonprofit benefit LLC. Tell me more about the structure in the community behind the organization, because I'm you know, I'm not as familiar with this this type of structure. So tell me more about this and why you chose this. Yeah, because, well, the the it really starts with what the intention of the organization was. When I came into the scene around 2015, not a lot of people were talking about blockchain. And, you know, it was it was a tech space for tech bros. Right. And so you you got surrounded by that. And but then at the same time, you saw opportunities around 2018. There was a huge uproar about a Bitcoin conference and that created avenues for women to really stake their feet into the space and let it be known that there are women in here. I started seeing opportunities being passed around and my fear was that we were in the verge of recreating Silicon Valley in the sense that only a certain group of people were known as the builders of tech. Right. And so I didn't want to repeat what I feel was a mistake. I saw it as a way for us to be able to create an avenue, as I mentioned before. So with BWBC, the intention was really to go into it, creating an opportunity to be impactful into the ecosystem that's being built, as well as the black community. So our intentions wasn't really to generate money, but really create avenues that allow people to to gain the sources, gain awareness. And so the benefit aspect is really what drove that. And so we wanted to make it clear to people that we're not just a fly by night. We really want to have intentional, beneficial programs for the community to get involved. And that's where Benefit LLC came from. Yeah, that's amazing. That's really cool. And, you know, you'd mentioned around, you know, a woman building in Web3 and blockchain. You have a really beautiful piece of artwork in the background there that says the future is female. Love that. That's beautiful. So, you know, what advice, I guess, would you give to two women that are looking to build in the Web3 ecosystem that are maybe hesitant because of this perception of like, you know, that it is maybe reality to some extent, too, that it is, you know, just a tech bro dominated space. What would you say? What advice would you give? I would tell them not to consider it that way. I would tell them that there's a lot of women in this space. One of the things that I've been privileged to have in this space is surround myself by women left, right, front, back, you know, and they're everywhere. So I don't know that type of tech space where there's no women. I know the tech space where there are women because I've been fortunate to be surrounded by them. And I want to let other females know that we're out here. We may not be as vocal. We may not be the one that are pushed to the front, but we're the one that's building. We're the one that's educating. We're the one that's creating community because, you know, you can't have blockchain without community. And Web3 is solely based on community. And the people that are actually taking the time to build that foundation to make it sustainable are the women. And so there's a lot of us here and we're coming from various backgrounds. You could be tech adjacent. And when I say tech adjacent, you know, attorneys are needed more than ever in this space. As educators like myself that are in this space, you know, we have a lot of hackers going on. So if you're in cybersecurity, you're needed in this space. Policymakers are needed. So like these are avenues that women tend to, you know, gravitate towards. But for some reason, they feel that they can't be in tech. Yes, you can be in tech. There's a lot of opportunities and positions for you. And I would say don't let the fear stop you because you just may end up realizing that you love it and you love being here and this is where you need to be. Because right now we're still in the build phase. And so we want you we want all voices to be added to how the structure is being built and what type of foundation so that it can be sustainable. We have so many different, you know, negativity that are coming our way that we're trying to build something sustainable and impactful to society. And women are important in that. Yeah, definitely. And I think, you know, what you said there, too, really stood out to me around, like you don't have to be, you know, a developer, a coder. Right. And I knew that like a lot of people have this perception that you need to have a computer science degree or background and be some super coder to be able to engage and be successful in this new ecosystem. But I think you're 100 percent spot on that, like anyone, no matter what your background can find a place in Web3. Right. If you're a lawyer, an artist, an accountant, you know, a creative. Right. There's just so many opportunities in this space for you to join it and to have an impact, which is great. So I'd love to shift now, if that's OK, a little bit, you know, because you mentioned earlier that you've done some fundraising in the space to be able to raise funds to help get this off the ground. I'd love to hear about your experience fundraising with crypto and, you know, what advice you'd have for other nonprofits, whether it's, you know, a benefit LLC or a charitable organization that are interested in engaging in crypto fundraising. Yes, so for me, it was easier to transfer into fundraising through crypto because I'm in this space, I know how it is. I've been able to meet individuals like Alexis Miller, who works with Endowment, that was able to bring us on board to their platform, which made the exchange from, you know, crypto to US dollar really easy. So I suggest that, you know, this is not a plug, but it kind of sounds like it. You know, Endowment was a lifesaver. The fact that they had such a platform in place really was helpful. But, you know, it's it's just it's just preparing yourself for the future. Right. As a nonprofit, we got to think of avenues, different ways of, you know, fundraising and different ways that people are going to show up with their funds. There's a lot of people that, you know, a couple of years ago made a lot of money in crypto, knowing the IRS is now looking at that and they're thinking, you know, long term capital gains or, you know, taxes, the word taxes is now introduced into this space. A lot of people are looking to actually, you know, find ways to assist them in being deducting their taxes. But I want to say that they're looking for ways to donate, you know, to a really good program or something that's social impactful. So, you know, this is an avenue that a lot of nonprofits are missing out on because they're not looking at crypto. I think it's it's it's just being more sustainable in this space, you know, to be able to take different resources and different funds as a nonprofit and as a new nonprofit. You know, we we can't afford to be closed minded to the way the funds are coming. Any opportunity for us, we're going to research it. We're going to look at it and see if it's viable for us. And it just so happened that crypto was something that we definitely were able to receive. Yeah, definitely. And Love Endowment as well. Huge fan of the work they're doing. Excellent platform. And Alexis, I think it was actually who connected us as well. So shout out to Alexis. Thank you for the work you're doing. But yeah, that's great advice. And I think that, you know, like nonprofits, a lot of nonprofits that I've worked with are struggling to kind of like keep afloat and keep up with all the tech advances and everything and, you know, really relying on kind of their traditional donor base and everything. But that donor base is also really, you know, aging out as well. And, you know, they're really struggling to, I think, attract new donor bases. I think what you said around like it's a great way to like future proof and like, you know, I think, yeah, definitely spot on. And, you know, I think fundraising, too, is just one piece of the puzzle, right? When it comes to the benefits of blockchain and crypto. And so I was wondering, like, you know, beyond fundraising, what are some of the ways that other impact organizations like Charities, B Corps, whatever it is, can leverage blockchain technology to grow their impact? Yeah, I mean, like NFTs, non fungible tokens, right? A lot of people have heard of NFTs, you know, a couple of years ago when people were making ridiculous amount of money, all for what they deemed to be PFPs or profile pictures. Right. But these NFTs can also be a way to incentivize your donors by giving them something, an NFT, an artwork that are either created by the people that were impacted by that donation, by the program that, you know, a symbolism of, you know, a thank you for helping us obtain our goal. I think a lot of people will find value in using NFTs in a way that will be more commemorative of actions that donors have done. And yeah, and it could also be a way to make it fun for especially the younger generation, because they're all into NFTs. So, you know, imagine if a sponsor or sorry, a donor, imagine if a donor decides to present you with some crypto currencies, right? And you send them an NFT just simply as a thank you. That's really impactful for them. And also they will keep it within their portfolio or their gallery. And others can see that NFT. And once they see the NFT has your name, it's another way of marketing, you know, that's nonprofit. So if someone sees it, they can click on it, see the name and then decide to research it, look into what you guys are doing and consider donating that way. So it's it's an ongoing gifting platform or avenue or vehicle that you can use. Yeah, definitely. I know and I think NFTs are so fascinating because a lot of people like look at them and NFTs are just no JPEGs and whatnot. But I think that there's such a cool opportunity there for like nonprofits to use them to engage donors, like you mentioned, right. You know, to recognize and reward them. It can be like a really cool like badge of like a proof of impact. Right. Proof of impact, yeah. Yeah. I've also seen like dynamic NFTs where, you know, it can be updated, you know, as you donate more. So like there's some really creative use cases there. And you're right, too. It can also be a way for the nonprofit to tell a story or to raise awareness of the work they're doing, too. So, yeah, I think that nonprofits should definitely not be so quick to discount NFTs. I think they can be a very valuable tool for them in their in their yeah, in their growth. So, you know, obviously, a lot of nonprofit leaders are skeptical about Web3 and many rightfully so as well. Right. You know, there's been a lot of unfortunately bad actors that I think have kind of tainted the space a bit, you know, which has resulted in a lot of negative coverage, that it's a lot of scams and, you know, bad actors and those sorts of things. So nonprofit leaders are skeptical. So for those that are skeptical to get involved in this new and emerging space, what advice would you give to them? Oh, if you're skeptical, I would say, you know, read up on the technology. Right. Because I did come in being skeptical of crypto, one aspect of, you know, the technology and decided to read up and started seeing, oh, there's so many different possibilities in this space. You know, my background is also in cybersecurity, so I know about hackers and vulnerabilities and all that stuff. And I want to say that just to say that, you know, the breaches and incidents that do happen in this space is not only isolated to this space, it happens elsewhere as well. It happens with fiat, you know, US dollars as well, you know, so you're not really going to prevent all kinds of, you know, vulnerabilities. But however, that should not be the reasons why you decide to stay away. Another thing is, you know, regardless of the things that are happening when it comes to the vulnerabilities and the threats and incidents, so many different industries are already incorporating, you know, the different type of use cases. We have Visa, you know, that just stepped up, you know, their game again. They issued NFTs, now they're doing, you know, USDs, you know, stable coins. And so, you know, there's a lot of people that are slowly changing and things are changing around you, you know, you don't want that negativity to stop your progress into what the future is going to be. And the future is coming. The future is tech, you know, and it's female, but, you know, the future is tech, you know, and it's important for nonprofits to stay up to date. Every single time when people ask me, you know, about why should people be concerned about, you know, crypto or not using crypto, I always think of Blockbuster, right? They were a well -known company when I was younger, you know, used to be able to go to their store, rent out videos and all that stuff. And everybody thought that they were going to be here forever. All of a sudden they're gone, right? They're replaced. And the younger generation have no idea who they are only because they didn't change with time. So as nonprofits, we have to change with time. We have to be kind of one step ahead, you know, wear multiple hats. And I hate to say it, but kind of experimental, you know, in our approaches, in our marketing and in everything, right? Because if we get to the space where we're just stagnant and say, this is the only way that we're going to receive, we're going to be left in the dust. So you do have to conform to tech. You know, even A .I., nonprofits can't be close minded to A .I. is very helpful to a lot of people. The same thing with blockchain technology. You have to be open minded to it. Yeah, definitely. Wow. Great advice. Thank you so much for sharing that. Yeah, I think, you know, it's the future, right? And to stay afloat, to stay relevant, to stay impactful in the future, you got to, you know, stay up to date with these new technological trends and movements. So, yeah, that's some great advice there and great advice all around, some great insights. I appreciate everything you've shared and obviously weren't able to cover everything about the work you're doing. So for those that are listening and that want to learn more and get involved and support the work that you're doing, what's the best way for them to do that? Yeah, so you can go to BWINB .org, which is Black Women in Blockchain, and find out more about us. We are doing a fundraiser right now. And, you know, you can check out our fundraiser. Our goal is to raise money for programs that we want to implement. One of them is a mentorship program for the younger generation, high schools and college students. It's an 18 week course that we're trying to launch. And this 18 week course will allow these younger generations of females to be able to tap into careers in the blockchain space because there's several different careers and give them access to mentors within these different careers so that they can have the opportunity to maybe transition or look into the possibility of transitioning into these wonderful, lucrative careers that are happening in the blockchain space. And there's plenty of them. It's not just developers. You have influencers. As I said, you have regulators, policymakers, lawyers, attorneys, educators, so many different positions and roles. Yeah, definitely. Thank you for sharing that. And of course, those listening in, all the links will be in the show notes so you can follow along and get involved in this incredible movement. And to end on one final note of inspiration, if that's OK, I'd love to hear a recent success story or win that you've had at a Black Women Blockchain Council that you can share with the audience. Yeah, a recent success story was our ability to provide a fellowship program to college students to attend one of our conferences that happened earlier this year. It was the Women of Blockchain, the International Women of Blockchain Conference, which is an annual conference that we put together. It gives you access to different women in this space. As I mentioned, there's a lot of us. And you get to hear from them and what they're building, how they're showing up in this space. And it's a three day conference. So we were able to provide free room at the hotel as well as their travel expenses. And that's something that a lot of conferences don't oftentimes do. They will lower the price for scholar students. But I remember being a college student, you know, I remember not having the resources, but I want to attend. And so we made sure that they were that they had the opportunity to attend for free without having to worry about how they're going to come up with the money and gave them access to a lot of networking. And to this day, a lot of them are finding success in this space. So I'm really excited about that and the potential of what's to come for them. Yeah, totally. That's amazing. I love that. What a great opportunity for those for the scholars to be able to join that conference. And yeah, I think back as a student, I would have never been able to afford to and transportation hotel and, you know, all that stuff to go to a conference. Right. So that's so important and so inspiring for those individuals that we were able to go. So thank you so much for all you do to uplift and build in this space. And thank you for sharing all the fantastic advice you have today for those listening and definitely check out the show notes to follow along. Hopefully you can also support this movement because they're doing a fundraiser right now. So thank you so much for being here, Olga. It was a pleasure to have you. And thank you for the work you're doing. Thank you, Drew. Thank you very much for having me. A huge thank you to Olga for joining us today on the Web3 nonprofit podcast. Make sure to check out the show notes so you can learn more about their work and consider making a donation to this incredible organization. They're actually running a fundraising campaign right as we speak. A big thank you again to Endowment for their partnership in this podcast series. We couldn't have done it without them. So thanks for listening in and make sure to join us again in a couple of weeks for next episode. Also, feel free to head over to cryptoautism .org to learn more about our work and feel free to shoot us a message if you'd like to chat. Until next time, let's keep showing the world the good of crypto.
Simply Bitcoin
A highlight from Parker Lewis | Why Bitcoin is Inevitable | Simply Bitcoin IRL
"Hello everybody, welcome to another episode of Simply Bitcoin IRL. Today we have a very special guest and someone who I've been looking forward to have on the show for the first time, Parker Lewis. But before we start the show, I want to give a very special shout out to the Bitcoin company that makes this show possible, Swan Bitcoin, best place to build your Bitcoin stack, it's being built by Bitcoiners, it's for Bitcoiners, they incentivize dollar cost average and they incentivize self -custody, definitely check out swanbitcoin .com today if you haven't already done so. Alright everybody, no more delay, let's jump straight into it, let me bring Parker up on stage. Hey Parker, how you doing? Doing well, glad we could finally get together to do this and sorry it took me so long to be here but I'm very excited. Well no dude, I'm a super fan of your work and your essays, some of them that I remember you dropped while you were at Unchained and it really, really made me kind of rethink about, there was this piece, basically it was called The Great Definantialization, sorry English is my second language. It's a word I made up I think, so it's not readily available. But it was, it explains a lot, it explains a lot, right? It was very, very kind of influential in my perspective of the world and my Bitcoin journey as well. But before we get into all of that, I really want to ask you about what's your take on the ruling FASB's today in terms of, basically this was one of the three things that Michael Saylor said would be necessary in order to take Bitcoin to the next level. So what's your take on that? Yeah, I mean I think that it's, one it's a very logical move, it was a no brainer. I think that I didn't read too much about it today but I did see the news and I believe the vote was unanimous, I'm not sure exactly how many votes there are, but that it was very clear that it was the right thing to do. I think that it reduces a source of friction without doubt, Michael Saylor's talked about this quite a bit, but ultimately for those people who are not familiar, what the rule in certain types of companies, and there's different standards for public companies and private companies, but the standard that public companies had adopted was, I think it was treated as an indefinite life intangible, and effectively what that meant was that companies that held Bitcoin on their balance sheet would have to market it effectively the lowest value it had ever traded at, and basically impair the Bitcoin, and then as it traded back up they couldn't write the asset back up. And so what the FASB basically changed today was saying that companies could mark Bitcoin on their balance sheet at fair value. So as it goes down, they market down, as it goes up, they market up, rather than only marketing down and never marketing it up. I think the reality of the situation is that that does, I think, reduce some friction for some companies. I think if somebody was valuing a square who has Bitcoin on their balance sheet, or a micro strategy, they were probably looking past that and being like, okay, they disclose how much Bitcoin they have, how much is actually worth, so I think the market was probably treating it from a market, mark to market basis anyways, but I think for accountants and for finance departments, treasury departments that are considered about their borrowing basis and their balance sheets, there's certain things that are tested against their balance sheets. So I do think that it reduces friction, particularly for large companies, large public companies to putting it simplifies things for them. And yeah, and I have been following it for for for quite a while. Right. And it put them like in this kind of predicament, right, where they couldn't they couldn't accurately report a loss on the downturns. And it was it just became accounting. It was an accounting nightmare. So it de -incentivized companies to put Bitcoin on their balance sheet. Now, the other two things that Michael Saylor brought up, which would be major catalyst number one, was the Bitcoin spot ETF. Right. So we all know what's been going on with BlackRock in the news. We've been hearing it, you know, we hear rumblings coming out of the SEC, how, you know, it seems to me like they're running out of road, like they're running out of excuses. They can only delay this for so long. The grayscale lawsuit, you know, they got defeated there. So what's your take on this whole situation? Do you believe it's it's politically motivated from the SEC? Why do you think why do you think they're taking so long to approve a spot Bitcoin ETF? Yeah, I think that that I don't know if it's yeah, I guess in some way politically motivated or state motivated, I don't want to say politically motivated in the sense that I don't think it's one party versus another. I think it's more of the interests of the federal government and particularly the Fed Treasury impacting the SEC. And so I think that what I would say is it does feel like they're they're getting at the end of the road in terms of excuses and that the conventional wisdom with the likes of BlackRock coming in is that an ETF will get approved very soon. I'm someone who is just cautious around that. I think that there are very large, powerful interests that ultimately do not want Bitcoin to continue to even incrementally gain ground and kind of be a potential future threat to the dollar. I think that is ultimately what it is, not in a threat in a bad way, but in terms of competition, it's providing an option for people to opt out of endless fiat debasement like everybody is paying attention to Bitcoin is figured out. But that has consequences for the Federal Reserve, for the Treasury Department, for FinCEN. And I think that currently the SEC is basically the fall guy or the front man for other interests within the federal government that would rather not see Bitcoin proliferate via an ETF. And so even though typically BlackRock gets what BlackRock wants until an ETF is approved, I'm skeptical that it will happen in the short term. And I don't think people should necessarily or people should not be making investment decisions as to whether or not an ETF is or isn't going to get approved. Like maybe it's inevitable in the long run, but Bitcoin replacing the dollar is also inevitable in the long run.
CoinDesk Podcast Network
A highlight from UNCHAINED: Friend.tech | The Legal and Tax Ins and Outs of This Years Hottest Crypto App
"Hi everyone. Welcome to Unchained, your no -hype resource for all things crypto. I'm your host Laura Shin, author of The Cryptopians. I started covering crypto eight years ago and as a senior editor at Forbes, was the first mainstream media reporter to cover cryptocurrency full time. This is the September 5th, 2023 episode of Unchained. Toku makes implementing global token compensation and incentive awards simple. With Toku, you get unmatched legal and tax tech support to grant and administer your global team's tokens. Make it simple today with Toku. Arbitrum's leading layer 2 scaling solutions can provide you with lightning -fast transactions at a fraction of the cost, all while ensuring security rooted on Ethereum. Arbitrum's newest addition, Orbit, enables you to build your own tailor -made layer 3. Visit arbitrum .io today. Buy, trade, and spend crypto on the crypto .com app. New users can enjoy zero credit card fees on crypto purchases in the first seven days. Download the crypto .com app and get $25 with the code Laura. Link in the description. Today's topic is legal and tax issues around friend tech. Here to discuss are J .W. Verrett, Associate Professor of Law at George Mason Law School, and Jason Schwartz, Tax Partner and Co -Head of the Digital Assets and Blockchain Practice at Freed Frank. Welcome J .W. and Jason. Good to be here. Good to be here, Laura. Let's start by having each of you give your backgrounds so the audience understands how your experience relates to the topic at hand. J .W., let's start with you. Okay. I teach corporate securities and banking law at George Mason Law School, and I also teach accounting, forensic accounting there. I practice as a securities lawyer. I defend clients from the SEC and I do internal investigations of accounting matters and also practice as a forensic accountant where I support litigation matters and in working on U .S. versus Sterling off right now, which is taking a lot of time. Great to be here. Jason. And I'm Jason Schwartz, as you mentioned, Tax Partner and Co -Head of Digital Assets at Freed Frank. I have been a financial products and funds lawyer for many, many years, a crypto lawyer for several years now. I represent clients ranging from centralized exchanges to banks to large asset managers to DAOs in the crypto space. I'm also an enthusiast myself, and I have an embarrassingly large collection of digital art.
Divine Naples Podcast
A highlight from 435 Someone is stealing pens in our office. Matt does not use envelopes and Rich used to use them behind curtain to bring them to government workers. Bear with no teeth is under bed staining carpet green and red like a Christmas. Matt is expanding his family and he puts them in Naples ZOO for good reason. One of them is a grandmother. Episode #435 September 5th. 2023
"Another divine and that is Tuesday September 5th and episode 435 from ThisMikeRich and from ThisMikeRich on episode 435, it's Matt. Oh, that's my pen. You take my pen again. Yeah, you always cry baby about it. Why are you taking my pen? Well, because you have a red one and I have this blue one and sometimes they're close to next to each other and I grab yours by accident and you get all crazy. I always wanted to... You pull it out of my hand real quick and snatch it and then you throw my pen onto my side of this desk here. That's what you do. Yes. Like a little baby having a temper tantrum. Yeah, I have to be... What are you? Six? Five? Three years old? No, because then I find it in your pocket. Well... That's exactly right. So, you know... Well, let me just give you a question here since we started so nicely. Okay. Because I want to know how focused you are today. All right. I'm not really focused, but I'll try. Okay. So focus now. You ready? On both of us. What starts word with E, ends with E, and has only one letter in it? You got me. Envelope. Really? Yeah. Oh, that's nice. I haven't used an envelope for I don't know how long. Do they even still make those? Yeah. With emails today and all the different forms of communication? Yeah. Last time I seen envelope that was addressed to me, it was with a paycheck. It was 1997. Really? That's it? That was the last paycheck with an envelope. You've never gotten a subpoena? You've never had a ticket? No. You've got the court date one? You go online and pay online. They save money. What about divorce court? You ever had one of those? No. No. You ever get a bill? How about a bank statement? I get the bills and I throw them in the bag and somebody else deals. Yeah, that's right. You're an accountant. For me, I do everything electronically now, so I don't really see very many envelopes except for those people that send all kinds of ... You know how you change your address and I'll quit. You change your address and all of a sudden you get all the new introductory, welcome to the neighborhood mail. I love that thing. You came to the post office before. They had this envelope and you filled up the address where you live and you took all the discounts out of the envelope. I used to go and collect them, those envelopes. I threw the paper in the garbage where you fill up the address, but I took all the discounts for the loans and Home Depot. Then they came. The day D came. No more envelopes. How much longer do you think the existence of an envelope will be? As long as until - I mean, everything's electronic. No, I think it's going to be forever. Okay. Yeah, it's going to be like your books. Like nostalgia? Yeah. Yeah. I'll save some. Okay. I still have envelopes. They've been flooded, so they're kind of already enclosed. Oh, that's right. They're already enclosed. You don't know what's inside. No, there you go. They said to open them. I have a whole box of 500 envelopes. We can slowly open one by one, find nothing. I'll let you have at it. That'd be nice to open an envelope, find nothing. No bill. No bill. No love letter, and then breaks your heart, you know? Nothing. So, since you failed on that question, I have another one for you. Okay. What do you call a bear with no teeth? That's going to be very soon your situation, because you've done such a lovely - I have no idea. Can you tell me? You're like a fluffy bear already. I have no idea. You act like I'm the Riddler on Batman.
Divine Naples Podcast
A highlight from 435 Someone is stealing pens in our office. Matt does not use envelopes and Rich used to use them behind curtain to bring them to government workers. Bear with no teeth is under bed staining carpet green and red like a Christmas. Matt is expanding his family and he puts them in Naples ZOO for good reason. One of them is a grandmother. Episode #435 September 5th. 2023
"Another divine and that is Tuesday September 5th and episode 435 from ThisMikeRich and from ThisMikeRich on episode 435, it's Matt. Oh, that's my pen. You take my pen again. Yeah, you always cry baby about it. Why are you taking my pen? Well, because you have a red one and I have this blue one and sometimes they're close to next to each other and I grab yours by accident and you get all crazy. I always wanted to... You pull it out of my hand real quick and snatch it and then you throw my pen onto my side of this desk here. That's what you do. Yes. Like a little baby having a temper tantrum. Yeah, I have to be... What are you? Six? Five? Three years old? No, because then I find it in your pocket. Well... That's exactly right. So, you know... Well, let me just give you a question here since we started so nicely. Okay. Because I want to know how focused you are today. All right. I'm not really focused, but I'll try. Okay. So focus now. You ready? On both of us. What starts word with E, ends with E, and has only one letter in it? You got me. Envelope. Really? Yeah. Oh, that's nice. I haven't used an envelope for I don't know how long. Do they even still make those? Yeah. With emails today and all the different forms of communication? Yeah. Last time I seen envelope that was addressed to me, it was with a paycheck. It was 1997. Really? That's it? That was the last paycheck with an envelope. You've never gotten a subpoena? You've never had a ticket? No. You've got the court date one? You go online and pay online. They save money. What about divorce court? You ever had one of those? No. No. You ever get a bill? How about a bank statement? I get the bills and I throw them in the bag and somebody else deals. Yeah, that's right. You're an accountant. For me, I do everything electronically now, so I don't really see very many envelopes except for those people that send all kinds of ... You know how you change your address and I'll quit. You change your address and all of a sudden you get all the new introductory, welcome to the neighborhood mail. I love that thing. You came to the post office before. They had this envelope and you filled up the address where you live and you took all the discounts out of the envelope. I used to go and collect them, those envelopes. I threw the paper in the garbage where you fill up the address, but I took all the discounts for the loans and Home Depot. Then they came. The day D came. No more envelopes. How much longer do you think the existence of an envelope will be? As long as until - I mean, everything's electronic. No, I think it's going to be forever. Okay. Yeah, it's going to be like your books. Like nostalgia? Yeah. Yeah. I'll save some. Okay. I still have envelopes. They've been flooded, so they're kind of already enclosed. Oh, that's right. They're already enclosed. You don't know what's inside. No, there you go. They said to open them. I have a whole box of 500 envelopes. We can slowly open one by one, find nothing. I'll let you have at it. That'd be nice to open an envelope, find nothing. No bill. No bill. No love letter, and then breaks your heart, you know? Nothing. So, since you failed on that question, I have another one for you. Okay. What do you call a bear with no teeth? That's going to be very soon your situation, because you've done such a lovely - I have no idea. Can you tell me? You're like a fluffy bear already. I have no idea. You act like I'm the Riddler on Batman.
The Dan Bongino Show
If Only the Media Told the Truth
"You understand you so let me show you some right now because I'm about to obliterate the reputations or slivers of reputations may have been left may have been left of a couple of media imbeciles and morons and I'm gonna just shred right now let me tell you some right now I will never stop doing this ever I don't like these people at all not even a little bit what they're doing to America is disgusting they've been given a specific carve -out in our Constitution inspired believe I by the hand of God it's such a powerful document they have been named specifically they are so important in the Constitution specifically it's not freedom of the sanitation worker it's not freedom of the accountant but freedom of the press they were given specific powers because they are they so important are so important to the maintenance of a sane healthy prosperous constitutional republic that our great heavenly founding fathers actually carved out a freedom of the press specifically in our Constitution for them only specifically mention and they become a galactic disgrace a disgrace an embarrassment how these people's parents spawn this cancerous malignant rot on humankind I folks this country would be in a different place if people just tell the truth I mean it I don't mean tell the conservative truth of the liberal truth I in the true just tell if they just told people the truth Donald Trump was spied on collusion was a hoax the Reagan tax
Evangelism on SermonAudio
A highlight from Churches Start Churches
"Alright Acts chapter 13, let's stand for the reading of God's word. We'll look at verses 1 through 3. Acts chapter 13 verses 1 through 3, the word of God says, Now there were in the church that was the Antioch certain prophets and teachers as Barnabas and Simeon that was called Niger and Lucius of Cyrene and Manaen, which had been brought up with Herod the tetrarch and Saul. And as they ministered to the Lord and fasted, the Holy Ghost said, Separate me Barnabas and Saul for the work whereunto I have called them. And when they had fasted and prayed and they laid their hands on them, they sent them away. And let's pray. Lord, thank you for the truth in your scriptures, we're going to look at this even help us to in the world, as individuals, as a church, and Lord, may we find a cause that is greater than ourselves, that pulls us out of bed and towards a worthy goal. We pray you'd speak to our hearts tonight in Christ's name, Amen. You may be seated. So tonight I want to give you a Bible study on this subject and you'll see how it helps our church but also applies to each one of us. And that is that in the scriptures, we see that churches plant churches, churches plant churches. In Acts chapter 13, there's a lot of different ways we could go with this. But we see the church here at Antioch, which was a prominent church, really became the prototypical church of the time after the persecution pushed believers outside of Jerusalem and they scattered, taking the gospel with them. The church at Antioch became just a powerhouse of Christianity and sending missionaries and soul winners in the local community, missionaries around the region there. And in this case, we find them sending out some more folks. They had a lot of wonderful ministers there. By ministers, that just means a servant of the Lord. We think often of a minister as one who is a professional or has a position. But the words use two ways. A minister can just be a servant. A minister, capital M, can be like a pastor, an evangelist, something like that. But they obviously had a lot of mature Christians doing a mighty work. And verse 2 says these people were busy serving the Lord, they were fasting, they were seeking the Lord, they were seeking His power, they were consumed with doing the work of the Lord. Let me just remind you that you don't have to be a pastor to serve the Lord. You don't have to be a missionary or an evangelist to serve the Lord. The truth is every Christian is a servant of the Lord. You say, well, I'm an accountant, I'm a construction worker, I'm a driver, I'm a this, I'm a that. Well, that may be what you do to provide for your family, but it shouldn't be who you are. That should not be the limit of who you are. And never forget that we should always get up to make a difference, not just get up to make a living. If you get in the habit of just getting up to make a living, that gets old real fast. But if you get in the habit of waking up and your profession might be X, but your purpose is Christ and your identity is Christ, and that's a powerful way to live. And so we must never forget that. But as these men were serving the Lord, the Holy Ghost said, separate me, Barnabas and Saul. This is the call of God. Sometimes God will call specific people to a certain work outside of the church. As a young man, 17 -year -old man at Blessed Hope Baptist Church in Jasonville, Indiana, the Holy Ghost said, separate me, Paul Chapman. And God put on me the call to become a full -time preacher and a pastor.
Cryptocurrency for Beginners: with Crypto Casey
A highlight from What is DeFi in Crypto? Decentralized Finance Explained! (Ultimate Beginners Guide on DeFi)
"What is DeFi? DeFi is the trendy shortened version of the term decentralized finance. And to better understand what decentralized finance is, we will compare it with centralized finance, or the not so trendy CFI for short. So the word finance in these concepts simply refers to the financial industry at large, while decentralized and centralized describe the nature of its foundation and how it works. Currently, the entire traditional global financial system is centralized. So centralized finance is just how financial systems work now and how they have worked in the past few decades. And as we can all see, especially in recent times, the CFI or centralized finance foundation is severely outdated and highly manipulated, making it rot with costly fees and efficiencies, deception, fraud, and corruption, all while being vastly inaccessible to most people living on the planet. Maybe more for the better than worse, who really knows with all this inflation, devaluation of fiat currencies and waves of bank failures. Luckily, the leaps and bounds we've made in the technological realm this past decade have allowed for the development and emergence of a new decentralized financial foundation. So although DeFi stands for the term decentralized finance, the word DeFi is used colloquially to describe the movement or crusade towards a low cost, fast, efficient, trustworthy, and completely transparent global financial ecosystem, one that operates without any central authority and is highly accessible to everyone around the world with just a smartphone and internet connection. Cool. Now that we know DeFi, conversationally and in the media, alludes to a paradigm shift in the global financial industry, let's talk about the underlying technology that has millennials, Gen Xers, and some boomers alike actually bullish on DeFi becoming a reality and widely adopted in the not so distant future, DeFi's foundation, blockchain. So how can the backbone of a new global financial system conceivably harbor all of these attributes like efficiency, transparency, and accessibility that have been completely absent from the current system we've known and been subjected to our entire lives? Ethical politicians, altruistic governments, philanthropic financial institutions, decent hardworking Gen Zs? Nope. Oxymoronic quips will not be our saving grace, neither will leaving matters in the hands of actual genuinely ethical and altruistic people, instead, the new financial era will operate from the very place numbers, mathematics, physics, and computer science were derived, the ever enduring fabric of the universe. Traditionally, banks, accountants, bookkeepers, and governments have managed the financial system. However, in the coming years, DeFi will allow the entire financial foundation to operate purely from principles of mathematics and computer science using what's known as blockchain technology. Blockchain's recording and storage protocols make it such that once new data is verified, it is unmodifiable, it's distributed across a vast network of computers around the world so it's hard to destroy, and no one person or entity controls the data or network, creating a transparent environment. And blockchain technology is the cornerstone of decentralized finance, as it's what makes the decentralization aspect of DeFi possible. So without losing sight of this video, if you would like to learn more about the details of Ethereum's blockchain foundation, check out this video guide by clicking on the link above. Amazing! Now let's talk about the technological layers built on top of its blockchain base from which DeFi was born. Hello, I'm Crypto Casey and in this video we are going to explore what DeFi is, how its ecosystem works, its technological architecture, and why it could become the foundation of the future global financial system. Let's hit it! Let's start off with the first step. Trade cryptocurrencies tax -free within an Individual Retirement Account or IRA with iTrust Capital. Practice finding altcoin gems before they pump to prepare for the next face -melting altcoin season with Morales Money, and invest in your very own cold storage hardware wallet like Tangem Wallet. It's the size of a credit card, multi -currency, multi -chain and it's by far the easiest crypto wallet to set up and use on the market right now. Note that Tangem has been swamped so orders have been backed up for a few weeks so pre -order one to get your spot in line for the next batch of wallets today. Scroll down and use links below to access the correct and official sites as well as redeem any special offers they have for us. Sweet. So Bitcoin and Ethereum are both use cases of blockchain technology with different purposes. Bitcoin is simply a digital currency that people can use as a form of payment to send to and from each other or hold as a store of value while Ethereum is basically a programmable blockchain that people can build software on to create valuable products and services. And due to decentralized properties of blockchain technology, the software people can build on Ethereum are called Decentralized Applications or DApps for short. And the nature and potential of these decentralized applications or DApps inspired the idea and desire for a crusade towards Decentralized Finance or DeFi back in November of 2018. The DeFi movement aims to transform the current financial system into a more transparent and So let's talk about how all of these decentralized financial applications are being developed and working together to make the DeFi era become a reality sooner than we think. DeFi's Financial Stack There are five main components of DeFi's financial stack or framework that lend to its potential usability and mass adoption in the global financial realm. Let's briefly go over these five components together. Component 1. Stable Coins So each cryptocurrency has a different function or utility. And types of cryptocurrencies that peg their price to something with stable pricing like the US dollar are known as stable coins. For example DAI or D -A -I is a token that is pegged to the US dollar in that it maintains the same value as the US dollar. This makes the token price stable, staying at nearly $1 per DAI, which is why tokens with this function are called stable coins. Stable coins were designed to bridge the gap between fiat currencies and cryptocurrencies and decrease also the volatility associated with holding those cryptocurrencies by allowing people with the token to hold an amount of cryptocurrency with less price fluctuation. For example when you look at the price of cryptocurrencies like bitcoin and ethereum, you will see how their prices are constantly in flux. One minute bitcoin can be worth $30 ,000 and the next it can be worth $27 ,000. On the other hand with DAI you can hold $10 ,000 worth of the cryptocurrency and minute to the US dollar and remain relatively unchanged, which gives stable coins like DAI a lot of utility in the DeFi space. So as you can see stable coins are an important building block in the DeFi financial system as it ensures the stability of value in the market.
The Dan Bongino Show
Bruce Dubinsky: How Shell Companies Can Be Used for Illegal Purposes
"Pathetic. I want you to listen to this though. This is important. They had a forensic accountant, Bruce Stabinsky on Fox talking about the money trail from these foreign governments to the Biden regime. This is This good stuff. And keep in mind these two questions because he nails it. If the Biden family crime operation was getting paid for a service, then what exactly was the service they provided? And if that service was legitimate, why did you need seven, eight, nine, 10 shell companies to launder the money through? Why not pay directly? This is a good segment. Check this out? We asked a forensic accountant. The transaction from Yelena it dollars moving, coming inbound from Russia. And then it moves into transactions to Devin Archer and 100 Biden's companies that almost dollar for dollar. That is signature of, uh, of a problem. The Binsky says people sometimes create shell companies. Then they transfer money through those firms. That makes it hard to track. And I think it was, um, uh, Seneca Thornton, uh, partners, if I have the name correctly, I think that was one of the, uh, the top, uh, tier, what I, what I call a top tier, you have layered companies. So usually there's one or two companies that start the transactions or that are controlling. And if you start with those and then follow it all the way down, that's where you'll start to get, uh, more information. Debinsky says the question to ask is what did these firms do? Did they provide a good? Did they provide a service? Did they make anything? The purpose of some of the firms was, quote, consulting. That's why Republicans believe the key service was access to the president. They didn't do anything. They used Joe Biden. then what And we're seeing is Joe
KAILASH HAZARI IAS ACADEMY /ADMINISTRATIVE CONSULTANT SERVICE (WORLDWIDE)
"accountant" Discussed on KAILASH HAZARI IAS ACADEMY /ADMINISTRATIVE CONSULTANT SERVICE (WORLDWIDE)
"Hello Friends, cabinet approves signing off. Memorandum of understanding between the institute of chartered content of India and the institute of chartered a content in land and wealth. The union cabinet chaired by the honorable prime minister Serena Modi has approved the signing of memorandum of understanding between the institute of chartered accountants of India and the institute of chartered accountants in England and wells. The MOU is to provide recognition of the qualification, training of each other's members and admit the members in good standing by prescribing bridging mechanism on the prevailing turns and conditions the priority to this MOU will provide each other with the information on material change to their qualifying or adverse requirements, policy, and any other relevant metrics. ICA collaboration with IC, EW will bring a lot of professional opportunities for CH in UK and also for Indian CH2 are looking for the global professional opportunity in UK.
Grazing
"accountant" Discussed on Grazing
"So we did we just set up in Google at school. They had a festival in September. And then we did the farmers market on Thursdays. I think it's on Thursday. Yeah, Thursdays in good looks for. And then people who came to those festivals, this is just a little early for me, can we pick them up? Can we get some in two weeks? Absolutely. So we did a lot of that. We would set up a whole bunch. We would set up a Tom in a date in one area and they would come meet us there and we would load vehicles up and do it that way too. So it's a big hit this time of year. You see them all over the place. Where's the word mom come from? Y'all haven't the idea. I guess it's just a shorten of their long name Chris anthem. Yeah. Well, that came from. That's probably a species genus done thing. Yeah. It's all about. Well, it's a very appropriate for this time of year because you're about to start seeing a lot of them. Well, Caroline, thank you so much. No problem. You are the hen house mom queen. If anybody needs advice or moms, I know what to send them to now. That's right. So moving on to our next segment, the factor fiction segment, we're gonna do the same thing we did last week. We got four choices, geographically, of places within the United States, with strange names. One of them is an actual place. Three of them are made up off top of my head. Now, keep in score, reindeer and Caroline. None. Your own one so far. Clint, you must feel pretty good about today. Because he wants to keep going. He wants to keep score. We're going to get him. We're going to get you today. Okay, 99. I'm going to try. Well, I'm giving one of y'all an advantage in this. I'm not going to say who it is or what it is, but I think one of y'all has the upper hand on this. We're going to see if it pays off. All right, y'all ready? Now that's not fair. The way it could be you. Could be you. Randy was pointing himself he's confident, but it may not be him. Are you ready? Ready? Number one. Yapping wife, Mississippi. Whooping wife, Mississippi, you're looking to make Claire. I'm not making a comment. I don't know comment. Never mind. Go ahead. B, hairy legs, Arkansas. You're not writing down this week. No, I can remember so far. Okay. Yeah. C, burnt porcupine, Maine. What? Burnt porcupine main. And D, cold, hearted Eskimo, North Dakota. Things all sound awful. Cold hearted Eskimo North Dakota. Well, that's what you think. Okay, I've got my guess. I'm gonna write it down. I have the winner. Great. I forget the state. There we go. I've got mine written down. Go ahead, Caroline. I'm gonna go with burnt porcupine main. Well, Harry legs. It was at Indiana. Harry legs Arkansas. Well, okay. Okay. I believe there's a hairy legs Indiana. But I'll go with Arkansas. Maybe I must. One of y'all.
Grazing
"accountant" Discussed on Grazing
"I don't know about y'all, but he taught me a lot. Oh, yeah. I was, I was surprised at some of the things that he said. I loved how they got started. That was really neat. Yes. From accountant to pumpkin farmer to what Randy said he does much, much more than pumpkin farming. Randy, have you ever been out there before? I haven't. But you know, it gives people an opportunity that we take for granted the things we get to see we get to be involved in production agriculture and be out on farms. A lot of people don't have that opportunity, but they're giving them a little bit of that opportunity there. And helps people recharge a little bit on the weekend. You know, to get away and it's a nice thing for people to be able to do. Well, again, we appreciate mister Jeff coming on and spending some time with us, like we said it was very eye opening to some of the things that he had to say. So y'all moving on our next segment is this day in history. And today is September 20th. So I looked up some facts about September the 20th and what took place in history long before we were here. Or maybe not, this may have happened, while we're on this plan, but I want to get y'all's opinion of it and see if you have any recollection of these things. Okay. So September the 20th. In 1904, Wilbur Wright, this is according to time and date dot com. Wilbur Wright makes the first circular flight. Right, who with his brother orville is credited for inventing the first airplane and made a complete circle in one minute and 16 seconds on the right flyer two. 1904. Indict no how? Is that right? That would be my guess. In addition to, Randy, will you be born? 69. Okay, you may remember this. In 1973, Billie Jean King wins the battle of the sexes. The mixed gender tennis match between top tennis player, Bobby Riggs and Billie Jean King. The match was prompted by Riggs, comments that even at age 55 he could beat any female tennis player. King beet rigs and took home the $100,000 grand prize money. So he ended up getting beat by her. Do you have any recollection of that? I remember it being reported. I don't think I remember the actual event, but you've been 5 or 6 years I remember her as a tennis player. In 1984, the Cosby show airs for the first time..
Grazing
"accountant" Discussed on Grazing
"Will be our busiest weekend, starts off slow. Everybody wants this is my I don't know. This is what I think is that people want their pumpkins two weeks out two weeks before Halloween. And so our busiest weekend and last year we had 8000 people was the middle of October 15th. Peaks, and then by Halloween, it's very low volume on Halloween. I don't know if it's been there done that, or there's too many other things going on Halloween trick or treat and whatnot. But Halloween weekends usually not that. I mean, I say not that busy. We'll have three, 4000 people. We don't have the 8000 people. And y'all don't do the haunted house attraction. No more. It's been about three I can't remember. Maybe 5 years, you know, time is just fine. But it's been a while. And it just really wasn't, you know, our demographic is three year olds and 12 year olds. We target that. We ever ever traction we put in we make sure that fits that three to 12 year old demographic. And the hard house doesn't. And so it was a totally different demographic, totally different customer base. And so we just decided that wasn't what we do. That's three to 12. That's what attracts me the most. That's where I fit in. It's a good market to deal with. I mean, families with children, that's great demographic. And the world is so nutty and backwards right now that it's probably I would imagine an escape for a lot of people that aren't they don't have access to a farm or access to land, they can come out and be in that environment. And it probably feels I imagine safe to them. We had our biggest year ever last year in the COVID year. Biggest issue ever. Everybody wanted to get outdoors. Of course they've been cooped up for the whole year. And so October came around, we were open and we had our biggest season ever. It's very important because obviously you're running a business, but you're providing a service for people to be there enjoy and I imagine it's very therapeutic to them. Just like you said during that strange time last year, that was an escape for a lot of people. And that's very important. So kudos to you for offering that to people and given access like that. So the last question I would like to ask you, JF, I would rent you Caroline. They may have some more questions. But there was a guy I think he's probably still there. Tom Brown he works for farm bureau. He's down in Murray county. Then I Colombia. And he has, I think a small business..
Grazing
"accountant" Discussed on Grazing
"And that first year we had 3500 people. And so I'm like, man, this is cool. And so I kind of got into the industry and was in pumpkin patches and Christmas tree farms and things like that. We're just starting to become a thing. It's kind of when the tobacco industry was kind of fizzling or changing, converting over. And so they were tend to department agriculture was looking at diversification and they're like, well, you want to get out tobacco, maybe you can get an angle truism. And so they were giving some grant money the tea, AEP, grant money, and the state was they built an department to support us. And then they encouraged us to set up association..
The Black Ones
"accountant" Discussed on The Black Ones
"Got update. We got update here. Yeah roy moore podcast on your own podcast. Were all its own pocket. Joe biden is doing edgy. Live with some yes. He's going to accounting. Yes he's over accounting. It's all about accounting accounting accounting accounting. Didn't see counting yes. Joe biden live with some blockers on live. As you all know molly bori came out of their mother fucking shales. They came to put the registry capello style. Nah not referred scratching or remix. This was a one get wonder some natella nabila for your a s by now. I'm sure you know nigga came out on a rebuttal. Podcast is it was coming out of the closet. Finally they're gay not as in guy old guy they're finally de isn't happy nigga gaily but they knew it was sitting on a goldmine worth of mission so why not charged with a flex dollars to see the show. I definitely mad at him. Although you can obviously watch ship free. It's all about the support. You might ask yourself. What can you give for two bucks either a parables or you could support a good cause anyway. It was a solid debut. I got to hear the other side. Basically it all boils down to profit sharing. It wanted to see the numbers. The problem is somebody is blatantly lying. If you believe. Joe all worry that means you think them tunisia's conspired together although both forgive corroborating statements to concoct a story to defame. Joe if you believe me and not joe. It's two guys cooperating. About certain events pertaining to the issue that took place but what you people need to understand. The burden of proof is on joe. If you was to their lion present the documents it's plain and simple. If you don't do that pretty much all worry should be exonerated. But i must admit during an interview. Tim nigga seem so relaxed. Maldon see. mikey was counting. Sheep was geared up from head to toe. Rory looked like he didn't have the grudge over his shoulder. They look good. But all i know is after interview. You can feel the energy. How people are tidal waving to their side. All those who doubted them based off joe's accusations and firing him are now siding with the fuck is causing over. it was like a light switch. The puck and lights was off. It was dark as fuck show over. Vegas are berry. All of a sudden the lights popped out of nowhere. It's brightest fuck now nigga. Now see clearly but listen whether you think jones on the fourth floor not that nigga is where he's at for reason not because he rolled the short yellow bus. If you get what. I'm saying but i'm gonna end it with this. The burden of proof is on joe onto the next.
The Black Ones
"accountant" Discussed on The Black Ones
"Or sprint ship. That's what it seems like. Nigga shoulda understood that when they joined that podcasts. You should have known joe's all my business that's all speak on is business numbers in business. Numbers and business is businessman. Hopefully roy moore was see it like that. They can move on peacefully. Create their own paths blood mall and rory. All y'all did was get that nigga dj alkaline. I mean academics. And i do want to apologize. It's just every time. I think you'll name. I think but nine. Volt battery alkaline. Academics are pictured energizer. Bunny podcast with the exception of the ears but the similarity means are not that far off gipper. Take some confidence. But this nigga by the way has a huge task following respected in game mini. The dude has met club but no. He's not my cup of tea. I don't follow him. No subscriptions anything like that. But i do get snippets from what he says from third party outlets and from what i'll be listening to. He's just fucking annoying for me to listen to for long periods time. No fence the him. But i just can't listen to a mother fucker whose dialogue is ninety percent screaming. The whole time nikki. You gotta mix it up near. You can still get a point across without yelling every fucking time. I need to hear some kind of civility sound like. He's bullied throughout junior high high. School always had us nipples pinched tossed in a dumpster. Much money stolen on a regular all. The women thought he was too short and did get no pussy. That's had an experience me now. Don't get me wrong relax. Relax. i'm not seeing. That should happen to fix is how we sounds in no. I'm not speaking from experience that you will never know put. An academic are just insecure. Mother buckets in my opinion. Dare outlet is belittling defaming in bashing until they are no more in existence. Figuratively damore traumatize. Necas like that from your pass the more wrath. You'll get which is very fucking scary because dj academics mall in warri as long as they're breathing dd. Economics is making sure that when mall robbery. Go to sleep. They see his face knicks. Go to bed and shit counting sheep hop fences did he academics. Face gonna be on them sheep's but whether his name sounds like a battery or not bullied in school or not he's a force to be reckoned with..
Business Confidential Now with Hanna Hasl-Kelchner
"accountant" Discussed on Business Confidential Now with Hanna Hasl-Kelchner
"Startups and small businesses don't have much experience with professionals in the counting field. And that's why. I think it's important for them to understand what a certified public accountant is. What is well. I let me just back up and tell you what a person has to do to become a cpa as you know. There are many people in your community who work on taxes when we think of as the first thing we think of is someone who can prepare our taxes. But i hope. I'll lay out for you so many other ways that a cpa can help your business. There are many other people that can help you if you just need tax preparation but i think all businesses could use the experience. That cpa's had doing their work so the qualifications to become a cpa vary by state. They're generally the same but each state will have the details a little bit differently. I is an educational component their courses that all accountants take in accounting rules and procedures auditing management accounting tax law general business loss finance and very important one in business ethics. And i believe that's a more recent addition to the curriculum because there's been emphasis in the more recent years on having a profession. That's much more honest and open to people looking inside and seeing what they're doing anyway there's an educational component these days in many states. You have to have a master's degree to become a cpa. That was not the case until recently. Now there's also an experience component which varies by state and a national exam and then when a person qualifies by passing all those areas They have to register with their state. Licensing board to keep an active license. You have to renew it annually. And in north i think it's great that Everyone has to do forty hours of continuing education so that it keeps you up on all of the laws and in addition. You have to attest that you've had no convictions. In the court of law and ethical breaches in the past year given that you might wanna hire a cpa. That's what you'll be getting. I'd like to go over the ways of cpa can help you and your business when someone starts business a cpa can be a huge help. If you have an idea for a business or you think of what you wanna create one of your first conversation should be with a certified public accountant as many of you know everyone really needs to keep track of the business finances but there are many other ways that the cpa can help you first of all along with an attorney the cpa can help you. Think about the best structure for your business. That is whether you want to set up a limited liability company or a partnership or a corporation and the cpi should have experience so that he can he or she can say well. If you set up a partnership these might be your problems down the road or if you set up a corporation. Are you sure that this is what you wanna do for the future of your business. So that's a very interesting conversation. And once you decide that the cpa can help you in making a business. Plan particularly the Financial analysis because of that very important to figure out all aspects of the startup of the business and projecting the business into the future. So i would really recommend that. And then the cpa can also provide you with advice on the type of accounting software. You might want to have in your business and when you decide on a cpa. It may be important to have a conversation about whether that your software will interact with the one that the cpa's firm uses so that tax preparation will be quicker and more accurate and much cheaper. That's a very important thing to decide right in the beginning. Of course when you start your business you have to open a business bank account these. Cpa can help you in the business. Make sure that all of your procedures for your money. And for their revenues coming in and the expenses going out are set up so that they'll be easy to track and so that there's set up in a way that minimizes the possibility of fraud because the business owner is usually not the one who has his or her hands on all of the business procedures for example payroll for example paying bills and in the accounting world. The procedures that will help you protect your assets in the business are called internal controls and so if a your procedures is set up in a particular way it makes it much more difficult for anyone handling finances to steal the money of the business. I know that you go into business. You don't think about that. You don't think about an employee or a friend of an employee taking advantage of the good business that you have but this is very very common particularly in small businesses. When you have a one person performing multiple roles. I just think it's extremely important in the beginning to have a cpa. Just look over what you've set up and give you some pointers pudding that extra time and money into setting up business might help you protect thousands of dollars
Business Confidential Now with Hanna Hasl-Kelchner
"accountant" Discussed on Business Confidential Now with Hanna Hasl-Kelchner
"Their state..
KDWN 720AM
"accountant" Discussed on KDWN 720AM
"Didn't take into account. And CPS, do they not? Also know every years for you can get big tax breaks or what have you onto the onto guys? Well up on those type things. Yeah, No, that's there's one whenever requirements to be Ah, Licensed professional license, Deepa is is continuing Professional education. And what that means is that as a licensed professional, we have to regularly educate ourselves that it's not just get it back towards your C p A. And that's it. No, it's uh A lot of us. Get a bachelor's get a master's in your sleep again. Another masters, get another certification and you just keep going. It's a It's a lifelong learning process right to keep the tube with what's going on in the world that could impact our clients. And I don't have to have a life long run and process in the accounting business. All I have to do is have a C P A. Who has done that. And who does that, and I'm home for you. So having to think about something You know, when you have this little thought in the back you read when you know you don't have an accountant. You know you don't have a C p A. And you haven't too. Greatness to think about all the problems that that you have to keep in your head. You can't free yourself to go do the business that you want to do Because you're acting as your own C p A or you're acting as your own accountant, So you really have to take a large portion of your mindset. And keep it out there rough and ready. How these problems every year. Does that take a toll on the business persons? Business contracts.
710 WOR
"accountant" Discussed on 710 WOR
"Shows in a Q and a format And of course, we aren't all the popular podcasting channels. Spotify Apple podcast. Tune in player that FM and, of course on the extremely powerful, powerful I Heart radio network without further Ado, Tonight's guest, Richard H. Roberts, MD. PhD, is a medical doctor, Doctor of biophysics and former pharmaceutical industry CEO for nearly a quarter century 25 nearly 25 years at U R L Pharma Tonight show is all about. In fact, you know what Earlier this week, the Wall Street for those watching on YouTube, The Wall Street Journal had a story and, in fact, on their opinion page here it is. Biden gives regulators a free and heavy hand an entire column here. And we thought of. I mean, who well stand Dr Roberts, who understand this, unfortunately all too well. He has stories on the front lines of tonight's show is all about navigating regulatory issues. Some of the highlights what you need to know about regulatory nightmares. And as Dr Roberts is going to explain many people are going to think. Listen, I don't have a company with with with 1000 employees. How does it affect me? Well, Dr Roberts is going to share that How you and your company can be protected and stories from the front lines with that intro. Ah, very world. Welcome, Dr Rich Roberts. Thank you for joining me here once again on 7 10, WR. Thanks for having me back and that will see General article is very interesting. So this is typical, generally characteristic of a of a democratic administration that the basically gonna let the wolf pack out to go buy people. So that's what we're gonna discuss. And have you tried toe avoid getting bitten? Yeah, so our first my opening question is as follows. What are regulatory authorities? And why should it matter for our listening audience here? Mind your business. So regulatory authority is, um any of those government rating agencies that are going to interact with you? If you are building a home, it's going to be your local A building inspector. Your local construction inspector. If you are a new accountant, it could be the guy arrest. You're in a company could be OSHA, the Department of Labor and if you're the pharmaceutical company for your company, it also includes Di Jordan Person Agency, D a F D a Federal trade commission. DOJ under there all over again, So no matter who you are, and whatever level with your own a business or not. Especially your management, run a business, even those who were working in a salaried position and we're now really position. I'm going to tell you how to keep yourself out of trouble. Now, I'm glad you're touching on this. But if I may what's gonna hold you to this? Because, um, many in the listening audience are probably thinking like I mentioned a few minutes ago. I'm not running a major operation and I'm not running a pharmaceutical giant. I'm running. Ah, operation. I have 25 employees. 50 employees. I'm B to B. I'm not B to C Do they do people like that also have to be concerned about regulatory authorities. Absolutely so. Yes s O These records. When I tell people is first of all, there's no such thing as the government. For you. The government is the individual who from the governor's interacting with you. You might happen to get a nice person who is really not out to get you Not after trick you on is very reasonable. We might get someone who just wants to right up right up violations. And you're so shoot first ask questions later. This is an old levels of any organization. I'm so for example, if if the if the president of your company or your manager In your worker tells you to do something that's illegal. And they just told you verbally, you know quietly, a wink and a nod. If you go do that. They can come in you the regulatory agencies, law enforcement, they can come hold you responsible. Go after the manager also natural say, I never told him to do that. So one of the first things I want to tell you was get things in writing. And before that, I'll even tell you the sniff test. There's something as a width of being off. Maybe not right. When you're told to do something Be courteous. I'll be glad to do it to Mr Mr Manager, director vice president. Whatever just be sent me an email, not a piece of paper and emails. Emails are or basically forever. You could delete the email. You know, he's computer. It's not off your computer. Do you know about the lead it? It's on the server s O. Make sure they get it, giving me an email and also, if you knowingly do something that's wrong, the stick and still coming at you. Has to be addressed. The good news is, um Any wife. People only do what they're incentivized to do right now. The extent so what incentivizes a person in a regulatory department to coming after you right violations or even worse going for prosecutions. And that is what's going to help their career. So So when you have a case like this where the president now says, you know, unleashes the dogs. Go get on. You don't have regulatory agencies at all levels don't teach businesses. And writing them violations. Now you have recourse. Which is I mean, at the highest levels for the 88 Administrative Procedures Act where you can actually sue the regulatory agency. That could be if you think that there are citing you is our quotes. The words are arbitrary and capricious. Like By the time you get through the court system, you'd probably be out of business or you'll be in jail and and it's too late. It's not unless you're huge, Huge corporation is probably really not going to protect you. So, um, the other thing I know is these regulations change. So Congress doesn't write a will the detailed regulations? Congress will say that to make sure sure that companies make sure that their products Have had the integrity of quality, purity and effectiveness. Allow the thousands of regulations the hell that's achieved are written by FDA. And they change they change over. They could change everything without bet any warning at one thing. What if it was doing for a long time? I'm not running a company anymore. Sort of love is still doing it. I think what they did was they would you escort podium policy. FDA would give a speech at some industry conference on their new policy, and then the center inspectors out all over the country inspecting and citing companies for violations. We're not having this new policy that they're giving a speech. One example was going back many many years ago. Behave a speech that not only do you get the maker of drug, according to the application that FDA approved But you also have to check your raw material control the particle size. Horrible size of little porkers. The powder Became incited us for that. We're like what it's not been, or FDA approval to do this. Um, I'm not going anywhere. They don't care. They cite you for violation. S o. So they're they're generally regulatory agencies are incentivized to write up violations. So the end of the year they can show their boss or the nature of the department. They control Congress where they show the township for the state. Look, we might inspectors each found 2500 violations there. Saving everybody doesn't matter. Muslim were bogus. It doesn't matter this matter, Botham or trivial. Doesn't matter. I'll tell you something, somebody and it was building building a building and the township. Um, the township environmental inspector came over. And cited them that they destroyed the greenery, which, because you know, rain runoff. Well, of course, the constructing a building that grass was destroyed..
Biz Talk Radio
"accountant" Discussed on Biz Talk Radio
"Sure. I have a question just retired. I'm trying to make this quick. I know it's rapid fire Friday and I every time 72 years old and I retired from a bank. And I had with that bank called it peace talks, which they took part of our quarrel one and put in the bank stock. I believe. Well, I Didn't take it out at Gideon. He told me he thought it was getting about 3.75%. And they had done good. My only question was when they did their accountant and when they do their accounting I don't get something that you want to. You're on what I had in there If I was a year behind, I've never understood that. So I retired in 2020. And if I had taken it And I couldn't take it because I had to retire to certain date or something. And I didn't know that that I would have been a year behind. And I don't understand that. So I left it in there and they're going to get me. I can't taken our MD You know, at the end of year, leave it in there. Laying around that I want And I just wondered what you thought about Bank stock. And if that would get good thing, believe it in Well, I don't like banks in general, I've never ever had a bank stock on my list in 35 years. Never Never will. But there are regional banks. That I might like, Like the bank you're talking about. But unfortunately because they're not publicly traded I can't. Can't get enough information on them. To include those so that the small regional banks, some of them are very good, but unfortunately.
MyTalk 107.1
"accountant" Discussed on MyTalk 107.1
"Me so much. But But truly my point was like a side by side because we've seen this now with. I think we just called Chloe out for this last week for wearing her sister's face. She literally puts a different face on her instagram account than the one she walks around with. No, you were absolute. Don't you just 1000% like people shut like they're at the public's and I don't know They have public's in l A. I just feel like they were at the Arab want their one and like and you know, and Dakota walks around the corner with her, like Reusable hemp bag and, you know, comes face to face no pun intended with Khloe Kardashian and thinks Oh, my God. But see, here's the thing And this is this is the piece of like, maniacal genius about this is Do you recognize her? Because you never see her actually think that lady looks kind of like a weird Khloe, Kardashian said. You know, that's actually Chloe. They don't have to put on the Groucho Marx glasses like a weird beret. Tow walk around in so they can hide in plain sight. They're doing it by wearing their actual face. Well, in that sense, that's genius. I know what I'm saying. It's maniacal genius. Me and stick with us. We understand how the world operates. Y'all also, I just showed up on this accountant saw people that I know and think better of who liked that photo. Do you wanna come on? I really would love to do a segment cheese. Okay. Sorry. They're doing some work downstairs, and it went right under my feet. Sorry. That scared me. It felt like somebody was tapping my feet. I feel like Bradley. We could do a therapeutic segment Where you just call the people you know out for like, it's like, Hey, Bob McCracken 84 I see you liking that Farrah Abraham Post. You have no Business doing that? Nothing but good times.
WNYC 93.9 FM
"accountant" Discussed on WNYC 93.9 FM
"But at a certain point when you're 40 that option to go to law school and become a tax lawyer started to disappear, And likewise as you go down a certain area. If you've been a forensic accountant for the past 18 years, it's a lot harder to shift and go into other areas of counting so opportunities will start to limit themselves and disappear. And this is something I've seen in students where the first few years of their career they just kind of wander around in their early twenties. They go that path or manager says I'm putting you on these projects. And they don't realize they're starting to cut themselves off from other opportunities You can still shift by gets much more costly and difficult later in your career. Let's go to Michelle on line one who is thinking about a career shift. Hi, Michelle. Thanks for calling all of it. Hi. Thanks for taking my call Island. My question is that I spent the majority of my career pretty much 20 years in the fashion industry, you know, dealing with closing it, retail, etcetera, and I want to make a Incredibly like hard left into the ceramics world, um, as a ceramic artist. And I have a lot of network. And I think pretty big network in fashion, but that has nothing to do with ceramic. And like that industry, So how can I kind of navigating new industry? While using like some of my past Even though it's not related to what I want to move into going forward. Mark the big shift. People are taking a hard left or right into something new. That's a very common question and first, don't think of your network as it's the wrong network. Your network is more powerful than you think. Your first order network connections might primarily be fashioned. That's true, But that doesn't mean they don't know people who are closer to it. Your network is not just the people, you know, It's also everyone they know it's anyone you can be connected to. And so your friends and network connections can connect you to others. Particularly in your case because you're going into a creative field from a creative field. There is likely to be some overlap. So you already have some connections in there. It might now immediately be obvious. But if you poke around your network, you can start to assist to discover it. Of course, you're going to want to begin to build up your own network directly in there, And so you're gonna want to go to events events online. I would recommend also just finding ways you can start getting involved in small projects. And I'm not off the top of my head. I'm not sure how to do this for ceramics. I can think about commercially by think you're doing it more artistically. Volunteering is often a great way to start to pick up new skills. Because you can go into a nonprofit and say I can help you with this, and then you start to pick up skills like Go on your resume. Maybe there's some way you can start to do certain ceramic projects. Helping out other people in the field and start to build up your networking game Circum experience. Good luck. Michelle. My guest is Mark Hirschberg. He's the author of the Career tool kit. Essential skills for success that no one taught you. If you have a question, If you like to get in on this conversation, our numbers 6464357280. You can reach out via social media at all of it. W N Y c. We got after the break. We're gonna talk about early career advice, mid level career advice, And once again, we'll talk about pivoting or getting a lot of calls about that. Mark. Stay.
WIBC 93.1FM
"accountant" Discussed on WIBC 93.1FM
"This is important because to the extent that you work, you have a secure source of income. But when you retire, you need to replace that secure source of income. From secure sources, so that could be social Security. It could be a pension if you're lucky enough to have one, but most people are going to have what we call an income gap that they're going to have to fill from their asset base. Or the retirement accounts. Now the question becomes We want to look at those assets. Those retirement accounts as one big pile of cash. And furthermore, do we want to leave that pile of cash in the world's greatest casino? Susceptible to the upward downward viol tile market swings, or do we want to use that pile of cash and transform it into something that will provide you the same reliable income that you had while you were working? If I ask 10 people eight out of 10 people would say I want to have the same income that I had while I was working. So it's important to think about this as your assets are an income producing vehicle rather than just a number in an accountant. Now, some sources of passive residual income can be commercially least property that pays you a positive cash flow month after month. Other people have oil wells that pay per month royalties. Then there are those of you who have become my clients a crown haven Over the last decade, I've shown my clients a crown haven how to take their IRA for one K or other retirement accounts and turn them into income accounts. That will grow until they're ready.