WEBVTT

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They're a little bit slow

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because they acquire hardware as it goes,

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but that's okay because

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sometimes it just takes a

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little bit longer.

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I had no idea that was coming.

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So I was like, who?

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What?

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Why?

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Oh, my God.

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GM to our one active viewer this morning.

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Welcome to Game of Nodes,

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the podcast by validators

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and node operators and

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degens and fuckwits.

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So did you guys even realize

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that the music was different?

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I did.

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That's what I'm saying.

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Totally blew me off.

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I was like, what?

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That is definitely going to get us banned.

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I was doing the Australian

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National Anthem.

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It would have been funny if

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somebody else was here.

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Did you change the music, sir?

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Yeah.

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I even put it under the same

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name with intro so nobody

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would recognize it.

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I did the whole thing.

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And then I loved it.

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I thought it was great.

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I enjoyed it.

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However,

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will that just not get us a

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copyright strike?

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I'm sure it will.

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Every single episode?

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Yeah, nobody watches this.

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No, it's just only for today.

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It's only for today.

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It's only for number 99.

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Oh, okay.

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Only for today.

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Oh, yeah, number 99.

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Mm-hmm.

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If you're having chain problems,

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I feel bad for you, son.

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I like that.

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Who came up with that?

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Was that you or Alex?

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Ray.

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Oh.

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Frey.

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We both did it.

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Frey.

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You know that other guy?

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We both did it.

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The other guy.

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Yeah.

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Right.

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Well, fucking what has happened this week?

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I think...

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Oh man, it's busy at the moment.

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All the degens are out.

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Everything's happening.

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All the testnets are going.

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Everyone wants to do stuff all the time.

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Some of those testnets are busy.

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Some that can't be mentioned,

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but are busy.

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Lots of changes.

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Lots of tweaking.

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Lots of try this, try that type action.

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I think we can mention that one now.

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I think that's in the public.

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Yeah,

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I'm not sure that we can mention

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anything.

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We have mentioned it.

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Yeah, I think we have.

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Well,

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maybe we shouldn't say any more about

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that.

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Yeah, I mean, it's quite intense.

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There's a lot of... So, you know,

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I kind of lose track of

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some of the changes just

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because there's like so many of them.

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And occasionally I just go

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back to the default settings because...

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they work well lately lately

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I've been taking like out

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of the announcements and

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like copying them putting

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them back into the my

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individual channel with

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them and just like saying

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it's done like because I

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because I need that I need

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like a running tally of

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what's going on I still put

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a little moniker on each of

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those so I have an

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understanding of it so I

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know that it's done but but

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a lot of them look exactly

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the same and some of those

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are like 20 minutes apart

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A lot of them are like

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flip-flopping back and forth.

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They'll say, go to this number,

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then go to that number,

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then go to this number.

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You're like, fucking hell, man.

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Yeah,

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that's what I use my little icon for.

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If it's tagged, then I've done it.

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Right, right.

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Honestly, that's been like,

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I know it looks cocky maybe

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in those types of things or whatever,

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but it's really for me.

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Yeah, that's exactly why I do it as well.

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My little crown goes on

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anything that I've actioned.

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Yeah,

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like it's really helpful because then

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I can go back and look and

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see what I fucked up.

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So I always like to keep

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track of all these things, even upgrades.

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Whenever there's the announcement,

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I'll like read it in the

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morning when I wake up I'll

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go through all of the

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discord shit right and then

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as I go through it anything

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that's like pertinent I

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just mark as unread again

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so I can action it when I

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get back to my computer

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sure when I get to my

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computer because I read

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them all on my phone just

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to like get rid of all the

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chaff kind of like uh

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unreading email and stuff

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like that I do the same

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thing like I read it

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through yeah I need to go

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back and do something with it

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exactly yeah it sort of

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works discord's tough with

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that though and you can't

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really do that telegram I

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don't think right you just

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kind of think you can do

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that you can yeah I can do

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that telegram for sure yeah

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um yeah I mean lots of lots

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of bd happens on tg so the

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bd and the tg yeah I've

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been using the folders the

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folders a lot like the

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little I've been starting to too

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Yeah.

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So, you know,

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I've got like a folder called leads.

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So anyone who's like

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messaged me about some

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service or something,

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I just chuck them in there

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and then it makes it easier

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to follow up on.

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Yeah.

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I have a folder called good G U D blokes.

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Do you?

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Yeah.

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You're not in it.

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It's okay.

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I'm okay with that.

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I always think about that actually,

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because I do keep notes on

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like what's going on,

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but some of those like threads,

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it's like no different than

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any other BD thing where

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like you're waiting on me

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or I'm waiting on somebody else.

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Right.

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And so it's not time for a CRM system,

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but I thought it might be

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something a little bit more

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formal than leads holders.

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You know what I mean?

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Cause I might need a little

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bit more task management

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associated with some of those things,

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but we'll see.

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Well, I know for a fact that,

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Lavender L5 has some sort of

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tracking system for BD.

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Well,

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it's also different when you have

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multiple people too,

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because then it's a

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collaboration tool as well, right?

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If it's just you, then it's whatever.

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We mostly just use Notion for it,

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and then basically a Jira

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board that tracks the status of things.

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Yeah.

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Yeah, a Kanban is a good idea, actually,

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versus like CRM.

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I don't want fucking pipelines and shit.

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I don't give a shit about that.

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but a simple Kanban actually

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just showing am I waiting

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on something or somebody

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waiting on me or proposals

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or this or that would be,

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that's probably a good start maybe.

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The only problem is with

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those types of things.

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Well,

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you have to manually update them though.

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You do.

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It's kind of a pain in the ass.

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Yes.

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Well, if you don't have a team doing BD,

0:06:36.735 --> 0:06:37.495
it's a pain in the ass.

0:06:37.656 --> 0:06:38.656
Obviously, if you have a team,

0:06:38.716 --> 0:06:39.516
it's useful.

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If you don't,

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then it's just notes for yourself.

0:06:42.576 --> 0:06:43.156
Yeah.

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The leaf folder works just as well.

0:06:45.557 --> 0:06:45.757
Yeah.

0:06:46.327 --> 0:06:47.288
Yeah.

0:06:47.447 --> 0:06:50.269
I forget what fucking tool we used to use.

0:06:50.290 --> 0:06:51.769
We could put it in Jira.

0:06:51.810 --> 0:06:52.831
I could put it in GitHub or something too,

0:06:52.891 --> 0:06:56.531
but we used to do fucking hell.

0:06:56.692 --> 0:06:59.153
There was like a free type

0:06:59.552 --> 0:07:01.673
of just simple Kanban tool

0:07:01.754 --> 0:07:02.694
that we used to use.

0:07:02.714 --> 0:07:03.134
Trello?

0:07:03.654 --> 0:07:04.235
Yeah, yeah, yeah.

0:07:04.295 --> 0:07:04.995
That's exactly what it is.

0:07:05.194 --> 0:07:05.836
Yeah, we used to use Trello.

0:07:05.855 --> 0:07:05.915
Yep.

0:07:06.649 --> 0:07:07.670
Yep, I used to use Trello as well,

0:07:07.711 --> 0:07:08.810
but with multiple people.

0:07:08.870 --> 0:07:09.331
For some reason,

0:07:09.350 --> 0:07:10.831
we had some issue with it and decided, oh,

0:07:11.593 --> 0:07:11.733
no,

0:07:11.952 --> 0:07:13.173
so that we could see the history of

0:07:13.233 --> 0:07:13.514
changes.

0:07:13.553 --> 0:07:14.473
Trello doesn't have the

0:07:14.514 --> 0:07:15.194
history of changes.

0:07:15.314 --> 0:07:16.214
Oh, yeah, an audit.

0:07:17.175 --> 0:07:17.975
Yeah, yeah.

0:07:18.175 --> 0:07:19.677
So that's why we ended up leaving that.

0:07:21.057 --> 0:07:21.598
Trello.

0:07:22.298 --> 0:07:22.978
Trello.

0:07:23.399 --> 0:07:23.918
Never heard of it.

0:07:26.180 --> 0:07:26.420
Well...

0:07:27.898 --> 0:07:29.139
What's the big news this week?

0:07:29.238 --> 0:07:34.963
Stride has launched on DYDX, which, well,

0:07:34.983 --> 0:07:36.444
that's not actually first in the news,

0:07:36.504 --> 0:07:37.964
but it's on my mind.

0:07:38.084 --> 0:07:42.487
So Stride finally launches ST-DYDX,

0:07:42.528 --> 0:07:44.750
the auto-compounding USD

0:07:44.810 --> 0:07:47.031
swapping liquid asset with

0:07:47.471 --> 0:07:49.913
insane Stride incentives to

0:07:49.954 --> 0:07:50.874
attract liquidity.

0:07:51.274 --> 0:07:54.916
An airdrop of $150K to ST-DYDX holders.

0:07:55.517 --> 0:07:56.718
Whoa, much wow.

0:07:57.478 --> 0:08:00.281
So I didn't know that they

0:08:00.300 --> 0:08:02.461
were going to be doing the airdrop.

0:08:02.541 --> 0:08:04.463
I know that Schultz has

0:08:08.786 --> 0:08:12.108
comments on the stride

0:08:12.148 --> 0:08:13.608
deployment for DYDX.

0:08:13.668 --> 0:08:15.009
I think we've talked about previously,

0:08:15.029 --> 0:08:15.449
Schultz.

0:08:17.170 --> 0:08:18.050
Comments in what sense?

0:08:18.692 --> 0:08:19.891
What do you mean?

0:08:21.572 --> 0:08:22.374
Well, he knew it was coming.

0:08:23.122 --> 0:08:29.230
Yeah.

0:08:29.550 --> 0:08:30.411
We've talked previously

0:08:30.471 --> 0:08:33.134
about the whole swapping

0:08:33.895 --> 0:08:36.038
mechanism that they're

0:08:36.118 --> 0:08:37.980
using instead of just paying out DYDX.

0:08:38.321 --> 0:08:39.982
I made some on their forum

0:08:40.023 --> 0:08:42.706
post on DYDX when they were...

0:08:43.687 --> 0:08:44.527
um talking about it

0:08:44.586 --> 0:08:46.668
originally I i made a

0:08:46.707 --> 0:08:47.688
suggestion that maybe they

0:08:47.708 --> 0:08:49.229
have two two products one

0:08:49.249 --> 0:08:53.671
that um compounds your your

0:08:53.951 --> 0:08:56.812
um dydx by buying it with

0:08:56.932 --> 0:08:58.352
the usdc rewards and

0:08:58.373 --> 0:08:59.254
another one that just

0:09:00.073 --> 0:09:01.635
distributes dy dx but I

0:09:01.655 --> 0:09:02.697
guess that didn't uh

0:09:02.956 --> 0:09:05.019
distributes um usdc but I

0:09:05.038 --> 0:09:07.062
guess that didn't um gain

0:09:07.101 --> 0:09:08.222
any traction but

0:09:08.263 --> 0:09:10.365
nonetheless it is launched

0:09:10.465 --> 0:09:12.126
as of I believe yesterday

0:09:12.206 --> 0:09:13.928
or the day before just after the v

0:09:15.870 --> 0:09:17.812
three upgrade proposed by

0:09:17.851 --> 0:09:20.773
king nodes um got my dy dx

0:09:20.812 --> 0:09:23.975
back thank god did you yeah

0:09:24.034 --> 0:09:27.456
yeah it's a bit hairy on dy

0:09:27.476 --> 0:09:28.777
dx because you've got I

0:09:28.797 --> 0:09:29.857
mean it's unlikely you're

0:09:29.878 --> 0:09:32.538
ever going to get vetoed on a on a um

0:09:34.357 --> 0:09:35.942
on an upgrade proposal

0:09:36.042 --> 0:09:38.245
unless it's bad and you didn't realize.

0:09:38.285 --> 0:09:41.693
But yeah, I mean,

0:09:41.714 --> 0:09:43.236
just to like put 6K in the

0:09:43.256 --> 0:09:44.879
wind for a week is like...

0:09:46.181 --> 0:09:46.500
Okay.

0:09:48.001 --> 0:09:48.422
That's fun.

0:09:49.582 --> 0:09:51.524
All right.

0:09:52.423 --> 0:09:54.144
But yeah, man, I'm a, you know,

0:09:54.205 --> 0:09:54.846
I'm a company man.

0:09:54.885 --> 0:09:55.466
I do what I'm told.

0:09:56.245 --> 0:10:02.450
So, but anyway, successful proposal,

0:10:02.889 --> 0:10:03.649
smooth upgrade.

0:10:05.250 --> 0:10:06.292
I did wake up for it.

0:10:07.412 --> 0:10:08.452
and I didn't have to do

0:10:08.493 --> 0:10:10.053
anything which was nice I

0:10:10.073 --> 0:10:11.274
think they did have a

0:10:11.374 --> 0:10:13.034
couple of operators who

0:10:13.095 --> 0:10:14.416
reported that they had some

0:10:14.855 --> 0:10:17.017
upgrade issues um did

0:10:17.057 --> 0:10:19.197
either of you guys uh have

0:10:19.238 --> 0:10:20.438
any like stalled nodes or

0:10:20.458 --> 0:10:21.298
anything like that after

0:10:21.318 --> 0:10:22.659
the upgrade I think I might

0:10:22.700 --> 0:10:23.879
have actually had to go

0:10:23.919 --> 0:10:25.000
back and restart one of my

0:10:25.061 --> 0:10:29.302
nodes sometime later I mean

0:10:29.342 --> 0:10:30.222
it was smooth running for

0:10:30.263 --> 0:10:32.183
me um yeah I thought it was

0:10:32.203 --> 0:10:33.845
more and I thought the um

0:10:34.639 --> 0:10:35.740
The following Jailings were

0:10:35.779 --> 0:10:36.660
way more entertaining.

0:10:36.740 --> 0:10:37.361
Basically,

0:10:37.442 --> 0:10:38.563
everything for V3 has lost my

0:10:38.583 --> 0:10:40.004
mind because the Jailings

0:10:40.024 --> 0:10:42.788
drama has been so succulent

0:10:42.948 --> 0:10:45.291
that it's held brain space for free.

0:10:47.033 --> 0:10:50.758
So what was the juice in the

0:10:50.857 --> 0:10:53.160
post-upgrade drama with the Jailings?

0:10:54.753 --> 0:10:56.874
There were, I think,

0:10:57.073 --> 0:10:58.374
eight validators that were

0:10:58.413 --> 0:10:59.595
jailed from the upgrade

0:10:59.875 --> 0:11:01.315
just because they just

0:11:01.475 --> 0:11:02.816
didn't do the upgrade.

0:11:03.135 --> 0:11:04.155
They didn't stage it, maybe,

0:11:04.336 --> 0:11:05.356
which also means, of course,

0:11:05.376 --> 0:11:06.476
that they don't have monitoring,

0:11:06.496 --> 0:11:07.456
so they didn't get woken up for it.

0:11:07.778 --> 0:11:08.177
Why would you?

0:11:09.298 --> 0:11:11.999
Yeah, why would you have monitoring?

0:11:13.058 --> 0:11:13.639
They look for the words

0:11:13.659 --> 0:11:16.520
like... Were they any of

0:11:16.561 --> 0:11:17.360
those Cosmos validators,

0:11:17.380 --> 0:11:18.500
or are they all like EVM,

0:11:19.100 --> 0:11:20.642
ERC-20-type chain validators?

0:11:21.712 --> 0:11:22.553
Ooh, that's a good question.

0:11:23.053 --> 0:11:23.854
I think there was.

0:11:24.534 --> 0:11:24.794
Was there?

0:11:25.554 --> 0:11:26.235
I'd be surprised if there's

0:11:26.255 --> 0:11:27.456
Cosmos Validator.

0:11:27.515 --> 0:11:28.716
Usually those are like other

0:11:28.777 --> 0:11:29.977
ones that like don't

0:11:30.118 --> 0:11:30.999
actually recognize that

0:11:31.038 --> 0:11:31.999
each upgrade like that is

0:11:32.058 --> 0:11:32.740
actually a hard fork.

0:11:32.759 --> 0:11:34.821
Because if they see the term hard fork,

0:11:34.860 --> 0:11:35.620
then they prep for it and

0:11:35.640 --> 0:11:36.402
usually get like three

0:11:36.442 --> 0:11:37.302
months of notice on those

0:11:37.322 --> 0:11:37.863
types of chains.

0:11:37.903 --> 0:11:39.903
But here you got seven days,

0:11:40.203 --> 0:11:41.144
get it prepped or you're

0:11:41.544 --> 0:11:42.445
going to miss blocks and

0:11:42.465 --> 0:11:43.625
then they don't even realize it.

0:11:43.706 --> 0:11:44.826
Although no monitoring is like,

0:11:44.866 --> 0:11:45.667
what the fuck is that?

0:11:45.726 --> 0:11:46.488
Like, that's ridiculous.

0:11:47.392 --> 0:11:47.591
Okay,

0:11:47.611 --> 0:11:50.434
so there was definitely one that is a

0:11:50.514 --> 0:11:53.158
Cosmos native validator that got jailed.

0:11:53.739 --> 0:11:53.938
Cool.

0:11:55.159 --> 0:11:55.360
Yeah.

0:11:56.061 --> 0:11:56.280
Nice.

0:11:57.702 --> 0:11:58.303
Well done, team.

0:11:59.203 --> 0:12:00.645
Is that a surprise to you

0:12:00.785 --> 0:12:02.888
about that jailing or is it like, wow,

0:12:02.908 --> 0:12:03.249
50-50?

0:12:04.769 --> 0:12:05.750
About that one specifically?

0:12:05.770 --> 0:12:07.552
I don't know that guy well

0:12:07.572 --> 0:12:08.254
enough to say that.

0:12:08.274 --> 0:12:08.293
50-50.

0:12:08.413 --> 0:12:08.815
Yeah.

0:12:12.081 --> 0:12:12.562
Yeah, I mean,

0:12:12.602 --> 0:12:14.524
there's some 50-50 validators out there,

0:12:14.544 --> 0:12:15.065
you know what I mean?

0:12:15.245 --> 0:12:16.346
Like, ah, they might do it.

0:12:16.366 --> 0:12:16.927
Maybe they'll make it.

0:12:16.947 --> 0:12:17.408
I don't know.

0:12:17.888 --> 0:12:20.270
Yeah.

0:12:20.451 --> 0:12:23.293
But, yeah, I mean, you know.

0:12:23.433 --> 0:12:24.916
No, we didn't have any stalled nodes,

0:12:24.936 --> 0:12:25.495
I don't think, anything.

0:12:25.515 --> 0:12:26.777
I didn't really touch that.

0:12:26.937 --> 0:12:28.158
Actually, I think I staged it.

0:12:28.278 --> 0:12:28.879
I don't remember.

0:12:28.940 --> 0:12:29.100
I mean,

0:12:29.120 --> 0:12:30.061
I know we got the notification for

0:12:30.100 --> 0:12:31.461
the possible stall,

0:12:31.481 --> 0:12:33.745
but no issues after that, I don't think.

0:12:35.565 --> 0:12:36.985
I can't remember if that

0:12:37.145 --> 0:12:39.366
save V2 upgrade was post

0:12:39.466 --> 0:12:43.229
last podcast or pre last podcast.

0:12:43.288 --> 0:12:45.690
But I know you, sir.

0:12:45.710 --> 0:12:47.951
And after seeing your tweet,

0:12:48.150 --> 0:12:50.091
I made a tweet about the

0:12:50.231 --> 0:12:52.092
actual reduction in thrash

0:12:52.312 --> 0:12:53.572
is amazing on that.

0:12:54.293 --> 0:12:54.433
Yeah.

0:12:55.254 --> 0:12:56.615
that save it's sorry it's

0:12:56.654 --> 0:12:57.917
not the it's not the save

0:12:57.937 --> 0:12:58.797
v2 upgrade it was just the

0:12:58.876 --> 0:13:01.320
say db implementation so

0:13:01.379 --> 0:13:02.841
right on the on the way to

0:13:02.961 --> 0:13:04.962
say v2 I think it's like

0:13:04.982 --> 0:13:05.964
you know part of the road

0:13:06.004 --> 0:13:08.046
map and man it had like

0:13:08.125 --> 0:13:10.028
it's it's been fantastic

0:13:10.628 --> 0:13:11.629
yeah pebble something man

0:13:11.928 --> 0:13:14.030
this works yeah it's uh

0:13:14.051 --> 0:13:15.312
which I think we knew from other teams

0:13:16.519 --> 0:13:17.059
They use Pebble.

0:13:17.279 --> 0:13:17.480
Yeah,

0:13:17.639 --> 0:13:20.644
it's Pebble backend for not all the

0:13:20.683 --> 0:13:21.504
databases though.

0:13:21.985 --> 0:13:22.926
I don't know.

0:13:23.226 --> 0:13:24.048
When you look at the data

0:13:24.067 --> 0:13:24.908
folder after you make some

0:13:25.028 --> 0:13:26.370
transitions there,

0:13:26.650 --> 0:13:27.471
you'll probably figure it out.

0:13:27.591 --> 0:13:29.573
But yeah, it's been nice.

0:13:30.014 --> 0:13:30.355
It's been nice.

0:13:30.375 --> 0:13:31.375
There's a bunch of different

0:13:31.416 --> 0:13:32.437
things going on there.

0:13:33.018 --> 0:13:34.438
And they've like broken up.

0:13:36.019 --> 0:13:38.061
So you can change,

0:13:38.621 --> 0:13:39.481
like they've added

0:13:39.522 --> 0:13:40.783
configurations so you don't

0:13:40.822 --> 0:13:43.083
have to store certain things anymore.

0:13:43.504 --> 0:13:44.203
So what is it?

0:13:44.823 --> 0:13:46.424
They got the state store and the,

0:13:46.445 --> 0:13:48.025
what was the other?

0:13:48.645 --> 0:13:51.147
The state store and, hold on,

0:13:51.206 --> 0:13:52.027
I'll tell you right now.

0:13:52.607 --> 0:13:52.947
Yeah.

0:13:53.107 --> 0:13:53.748
I'll tell you right now.

0:13:53.768 --> 0:13:54.928
But, you know, as a validator,

0:13:54.948 --> 0:13:56.288
you sort of only need one of them.

0:13:57.570 --> 0:14:00.431
And then as a RPC provider,

0:14:00.451 --> 0:14:01.471
you need like both of them.

0:14:01.892 --> 0:14:02.572
That's right.

0:14:02.631 --> 0:14:04.432
Or the other ones or something.

0:14:05.748 --> 0:14:06.707
Yeah, you're correct.

0:14:06.788 --> 0:14:08.469
It's state commit, which you need,

0:14:09.389 --> 0:14:12.009
which defines the CDB

0:14:12.229 --> 0:14:12.909
should be enabled to

0:14:13.009 --> 0:14:15.490
override the existing IAVL

0:14:15.889 --> 0:14:16.690
database backend.

0:14:17.070 --> 0:14:18.331
And then there's state store.

0:14:18.671 --> 0:14:20.171
State store is not needed if

0:14:20.191 --> 0:14:20.831
you're a validator,

0:14:21.691 --> 0:14:22.892
which defines whether the

0:14:22.932 --> 0:14:23.672
state store should be

0:14:23.711 --> 0:14:25.211
enabled for storing historical data,

0:14:25.511 --> 0:14:26.552
supporting historical queries,

0:14:26.611 --> 0:14:27.292
or exporting state

0:14:27.312 --> 0:14:29.413
snapshots requires a setting to be true.

0:14:30.332 --> 0:14:31.533
So we run true on both.

0:14:31.753 --> 0:14:33.193
And then you can control...

0:14:35.134 --> 0:14:36.134
it shows like what the

0:14:36.174 --> 0:14:37.917
snapshot interval is on the

0:14:38.517 --> 0:14:39.557
on the state commit and

0:14:39.577 --> 0:14:40.658
then on the state store you

0:14:40.698 --> 0:14:42.721
can also control the keep

0:14:42.841 --> 0:14:44.682
recent um so we have all

0:14:44.702 --> 0:14:45.384
those set to a hundred

0:14:45.423 --> 0:14:46.344
thousand blocks which I

0:14:46.364 --> 0:14:47.566
think I'd say is what I

0:14:47.586 --> 0:14:48.166
don't even know how long

0:14:48.186 --> 0:14:50.748
that is um which I could

0:14:50.768 --> 0:14:51.589
probably increase on both

0:14:51.629 --> 0:14:53.030
these because I mean even

0:14:53.171 --> 0:14:54.071
even I think I have a

0:14:54.111 --> 0:14:54.792
couple nodes I've been

0:14:54.812 --> 0:14:55.932
running for a while and I

0:14:55.972 --> 0:14:56.533
think it doesn't even

0:14:56.714 --> 0:14:58.434
increase past like 160 gigs

0:14:58.596 --> 0:14:59.596
maybe something like that

0:15:00.330 --> 0:15:02.490
have to look really yeah I

0:15:02.530 --> 0:15:03.471
think because I mean

0:15:03.511 --> 0:15:04.371
honestly this is the first

0:15:04.412 --> 0:15:05.312
time I've ever run pruning

0:15:05.373 --> 0:15:06.833
on say because in the old

0:15:06.994 --> 0:15:09.634
iavl days um I never pruned

0:15:10.254 --> 0:15:11.895
like it just it just didn't

0:15:12.115 --> 0:15:13.397
like it always too much too

0:15:13.437 --> 0:15:15.018
much overhead right I just

0:15:15.038 --> 0:15:15.778
didn't want that overhead

0:15:15.798 --> 0:15:16.999
in those spikes and we were

0:15:17.119 --> 0:15:18.480
you know like either on the

0:15:18.519 --> 0:15:19.559
valves we would drop blocks

0:15:19.580 --> 0:15:20.740
which I wasn't really crazy

0:15:20.760 --> 0:15:21.981
about and then the rpc side

0:15:22.001 --> 0:15:23.101
like I don't want any I

0:15:23.121 --> 0:15:24.163
don't want any halts right

0:15:24.182 --> 0:15:25.524
I don't want anything slowing down

0:15:26.297 --> 0:15:27.077
And so we never pruned.

0:15:27.097 --> 0:15:28.418
And so that's the reason we had, well,

0:15:28.438 --> 0:15:29.318
we still have the same number of nodes,

0:15:29.359 --> 0:15:29.479
but,

0:15:29.980 --> 0:15:31.620
but we would just get into these

0:15:31.681 --> 0:15:32.621
rotations around state sync.

0:15:32.701 --> 0:15:32.841
Right.

0:15:33.722 --> 0:15:34.783
Which we've talked about, I think on here,

0:15:35.464 --> 0:15:35.644
but,

0:15:35.864 --> 0:15:36.745
but now I just have a hundred

0:15:36.764 --> 0:15:37.625
thousand on all these and

0:15:37.644 --> 0:15:38.765
we'll just kind of see and watch it.

0:15:39.006 --> 0:15:39.846
So we haven't had any issues.

0:15:39.886 --> 0:15:41.708
I have had some nodes that

0:15:41.749 --> 0:15:43.669
have panicked and like do a restart.

0:15:44.591 --> 0:15:45.671
So I do get those notifications.

0:15:45.711 --> 0:15:48.013
So I know that the binary is panicking.

0:15:48.033 --> 0:15:48.894
We had one node that was

0:15:48.933 --> 0:15:50.835
doing it like once every 18 hours,

0:15:50.934 --> 0:15:52.437
not 18 hours, maybe day and a half.

0:15:53.508 --> 0:15:53.748
36 hours.

0:15:54.188 --> 0:15:54.649
And then I,

0:15:54.849 --> 0:15:56.509
my state sync node actually just panicked,

0:15:56.690 --> 0:15:57.831
um, like an hour before this call.

0:15:57.850 --> 0:15:59.551
So, um, but they know about it.

0:15:59.610 --> 0:16:00.471
I sent them logs and they

0:16:00.491 --> 0:16:01.633
have a fix coming for that.

0:16:01.972 --> 0:16:03.293
Um, I think they are,

0:16:03.614 --> 0:16:05.294
they're so good at just fixing stuff.

0:16:05.754 --> 0:16:06.794
I just sent them logs and they're like,

0:16:07.535 --> 0:16:08.176
cause they were thinking

0:16:08.196 --> 0:16:08.956
like it was something

0:16:08.996 --> 0:16:09.537
related to the upgrade.

0:16:09.557 --> 0:16:10.417
I was like, no, this is post.

0:16:10.437 --> 0:16:11.457
And they looked at it and then they said,

0:16:11.477 --> 0:16:11.898
we have a fix.

0:16:11.918 --> 0:16:12.859
I was like, okay, cool.

0:16:13.418 --> 0:16:15.600
So, um, so that's coming as well.

0:16:15.919 --> 0:16:17.260
But, um, but yeah, so,

0:16:17.500 --> 0:16:19.701
so all of our nodes are on CDB, well,

0:16:19.782 --> 0:16:20.942
validators on both chains.

0:16:21.763 --> 0:16:22.583
And then, um,

0:16:23.688 --> 0:16:24.311
Yeah, we're on it.

0:16:24.432 --> 0:16:24.591
Well,

0:16:24.611 --> 0:16:26.378
the only thing we're not on site EB

0:16:26.498 --> 0:16:27.942
for is our archive.

0:16:28.384 --> 0:16:29.147
Which I don't think you're

0:16:29.167 --> 0:16:30.090
going to be able to do, right?

0:16:30.736 --> 0:16:31.177
Well,

0:16:31.477 --> 0:16:33.600
been talking with the team about

0:16:35.280 --> 0:16:37.643
basically having it

0:16:37.744 --> 0:16:40.586
internally resync to say DB.

0:16:41.427 --> 0:16:44.048
So obviously that's like

0:16:44.089 --> 0:16:45.250
some custom ass shit

0:16:45.711 --> 0:16:47.893
software to like make that happen.

0:16:48.614 --> 0:16:50.695
But they are seeing if they

0:16:50.735 --> 0:16:51.696
can make it happen because

0:16:51.735 --> 0:16:54.298
otherwise it's going to be, you know,

0:16:54.519 --> 0:16:55.379
IAVL forever.

0:16:56.980 --> 0:16:57.179
Yeah.

0:16:57.200 --> 0:16:58.140
That would be, I mean,

0:16:58.160 --> 0:16:58.740
you would literally

0:16:58.921 --> 0:17:00.841
probably like how much data

0:17:00.860 --> 0:17:01.301
would you save?

0:17:01.321 --> 0:17:02.760
You'd save a ton of space, right?

0:17:02.941 --> 0:17:04.021
So, well, I mean, it's,

0:17:04.122 --> 0:17:05.801
it's 14 terabytes at the moment.

0:17:05.821 --> 0:17:08.942
So probably knock that down

0:17:09.002 --> 0:17:09.863
to at least four.

0:17:10.702 --> 0:17:11.962
I mean, but we're, I mean,

0:17:11.982 --> 0:17:12.763
we're in this for the long haul,

0:17:12.784 --> 0:17:14.304
like five, what, five years from now that,

0:17:14.344 --> 0:17:15.324
that node won't even start.

0:17:16.364 --> 0:17:16.523
Right.

0:17:16.663 --> 0:17:20.305
Like, well, interestingly,

0:17:20.565 --> 0:17:21.884
it hasn't taken.

0:17:23.185 --> 0:17:24.286
So over time it's,

0:17:25.472 --> 0:17:27.094
It took longer for a little bit.

0:17:27.473 --> 0:17:29.314
It increased in restart time

0:17:29.334 --> 0:17:29.814
for a little bit,

0:17:29.854 --> 0:17:30.775
and then it's just sort of

0:17:30.875 --> 0:17:32.035
plateaued at about 20 minutes.

0:17:32.055 --> 0:17:32.355
20 minutes?

0:17:33.095 --> 0:17:38.596
Yeah, it's 20 minutes for a restart.

0:17:39.497 --> 0:17:41.198
And the computer it's on is

0:17:41.778 --> 0:17:43.979
balls to the wall.

0:17:45.259 --> 0:17:46.240
Sorting ones and zeros like

0:17:46.279 --> 0:17:46.900
a motherfucker.

0:17:46.920 --> 0:17:48.519
Yeah, man.

0:17:48.720 --> 0:17:50.701
It's like a big epic with

0:17:50.800 --> 0:17:52.280
just shitloads of RAM.

0:17:52.541 --> 0:17:52.821
So the...

0:17:54.122 --> 0:17:56.962
the the binary alone uses

0:17:57.123 --> 0:18:00.084
over 100 gig of ram now so

0:18:00.743 --> 0:18:04.144
really wow yeah no yeah

0:18:05.046 --> 0:18:07.026
it's uh wow let me let me

0:18:07.046 --> 0:18:09.707
get my most recent um it's

0:18:09.727 --> 0:18:10.267
gotta be more than that

0:18:10.307 --> 0:18:13.907
actually right the node

0:18:14.087 --> 0:18:15.808
itself is using um

0:18:18.137 --> 0:18:19.857
using over 400 gig of ram

0:18:20.097 --> 0:18:21.219
but most of that's just

0:18:21.298 --> 0:18:24.858
cached um cfs I mean which

0:18:24.919 --> 0:18:26.119
is fine for right now but I

0:18:26.160 --> 0:18:27.759
mean I mean it's it's a

0:18:27.799 --> 0:18:29.240
beast but over time like

0:18:29.279 --> 0:18:30.299
it's just untenable right

0:18:30.359 --> 0:18:31.299
like we're only not even a

0:18:31.359 --> 0:18:33.260
year in so at some point

0:18:33.361 --> 0:18:34.721
yeah it'd be interesting

0:18:34.820 --> 0:18:36.621
after a couple years but I

0:18:36.661 --> 0:18:37.961
mean you know it's it's

0:18:39.082 --> 0:18:40.241
it's a good challenge like

0:18:40.501 --> 0:18:43.742
to just plan and um you know

0:18:45.083 --> 0:18:46.824
you have to we're talking

0:18:46.844 --> 0:18:48.925
about so much data and you

0:18:48.945 --> 0:18:49.926
have to keep multiple

0:18:49.967 --> 0:18:52.387
copies of it um you know it

0:18:52.407 --> 0:18:53.229
takes planning for the

0:18:53.288 --> 0:18:57.231
future so um and what I

0:18:57.251 --> 0:18:58.011
mean by that is you can't

0:18:58.031 --> 0:18:58.992
just wait till your drives

0:18:59.032 --> 0:19:01.855
are full like that's right

0:19:02.194 --> 0:19:03.596
then what do you do like

0:19:03.635 --> 0:19:04.977
you really gotta plan yeah

0:19:05.017 --> 0:19:06.298
exactly yeah like you gotta

0:19:06.357 --> 0:19:07.659
play when you're at 50

0:19:07.659 --> 0:19:09.279
you're like planning ahead

0:19:09.319 --> 0:19:10.020
and that might mean

0:19:10.621 --> 0:19:12.501
Having room in that machine

0:19:12.561 --> 0:19:14.502
to put more and bigger

0:19:14.522 --> 0:19:17.064
drives and then sort of, you know,

0:19:17.124 --> 0:19:19.726
re-syncing side by side to

0:19:19.786 --> 0:19:21.606
those drives and then

0:19:22.007 --> 0:19:24.627
switching over and then, you know,

0:19:24.688 --> 0:19:26.269
retiring the old drives and then,

0:19:26.709 --> 0:19:26.949
you know,

0:19:26.989 --> 0:19:28.289
bringing in some more and then

0:19:28.369 --> 0:19:29.009
adding it to the...

0:19:30.119 --> 0:19:31.942
to the ZFS to get you through another year,

0:19:32.281 --> 0:19:34.364
or it might mean moving to

0:19:34.384 --> 0:19:35.585
a completely new machine

0:19:35.765 --> 0:19:37.326
and syncing it side by side.

0:19:37.846 --> 0:19:39.328
But all the time you need to

0:19:39.348 --> 0:19:40.048
keep it back up.

0:19:40.690 --> 0:19:42.832
So we use ZFS snapshot

0:19:42.872 --> 0:19:47.256
syncing to keep it back up.

0:19:47.415 --> 0:19:51.279
And that's not like with the

0:19:51.339 --> 0:19:53.041
current database, like with...

0:19:54.679 --> 0:19:56.181
the IAVL implementation,

0:19:57.041 --> 0:19:58.423
it touches a lot of files.

0:19:58.723 --> 0:20:03.469
And so whenever you do a ZFS snapshot,

0:20:03.489 --> 0:20:04.549
the diff is basically

0:20:04.589 --> 0:20:07.594
whatever it's touched between snapshots.

0:20:08.054 --> 0:20:10.416
So when you resync that to

0:20:10.436 --> 0:20:12.358
your backup machine, so you can just...

0:20:13.319 --> 0:20:13.680
you know,

0:20:13.859 --> 0:20:15.201
sync across the difference

0:20:15.340 --> 0:20:17.402
between your last snapshot

0:20:17.481 --> 0:20:18.323
and your most recent

0:20:18.343 --> 0:20:22.025
snapshot with ZFS onto a remote machine.

0:20:22.625 --> 0:20:23.325
But, you know,

0:20:23.605 --> 0:20:26.287
that snapshot is at least a

0:20:26.326 --> 0:20:27.047
terabyte a day.

0:20:28.647 --> 0:20:28.788
Right.

0:20:29.048 --> 0:20:30.328
In files that's touched.

0:20:30.608 --> 0:20:31.009
Yeah.

0:20:31.429 --> 0:20:32.609
It dumps a shitload, right?

0:20:32.650 --> 0:20:33.671
It reorganizes everything.

0:20:33.730 --> 0:20:34.631
It does a bunch of stuff.

0:20:34.671 --> 0:20:34.851
Yeah.

0:20:35.491 --> 0:20:36.412
Yeah.

0:20:36.432 --> 0:20:36.672
Yeah.

0:20:36.711 --> 0:20:39.554
So, you know, that takes a long time.

0:20:39.634 --> 0:20:39.794
So,

0:20:41.626 --> 0:20:43.489
Even with a backup strategy

0:20:43.509 --> 0:20:44.930
that accounts for that, you know,

0:20:45.810 --> 0:20:50.195
to do that locally is fast.

0:20:50.375 --> 0:20:52.837
To do that remotely is very, very slow.

0:20:52.857 --> 0:20:55.260
Yeah, it's not compressed, right?

0:20:56.752 --> 0:20:58.954
Well, you can stream it compressed,

0:20:59.335 --> 0:21:00.596
but it is still slow.

0:21:02.258 --> 0:21:05.640
To read the drives, compress everything,

0:21:05.700 --> 0:21:07.961
send it over the slow internet link.

0:21:08.682 --> 0:21:09.663
Even if you've got a gig,

0:21:09.824 --> 0:21:12.445
it's slow for a terabyte.

0:21:13.747 --> 0:21:16.308
And then on to whatever remote machine.

0:21:16.348 --> 0:21:17.068
And obviously, like...

0:21:17.910 --> 0:21:19.531
When you're using a backup machine,

0:21:19.571 --> 0:21:20.893
you're using spinners too.

0:21:20.993 --> 0:21:22.795
So they're not the fastest.

0:21:23.375 --> 0:21:25.097
You don't need for that

0:21:25.157 --> 0:21:27.421
application really the NVMe

0:21:27.461 --> 0:21:29.162
and it's just an extra cost

0:21:29.182 --> 0:21:30.183
that you don't really want to have.

0:21:30.503 --> 0:21:31.144
But I tell you what, man,

0:21:31.164 --> 0:21:34.909
like big SAS drives that

0:21:34.949 --> 0:21:36.309
are spinners are still not that cheap.

0:21:37.369 --> 0:21:39.071
Um, SAS drives are more expensive too.

0:21:39.112 --> 0:21:39.291
Yeah.

0:21:39.992 --> 0:21:40.213
Yeah.

0:21:40.233 --> 0:21:40.673
I mean, they're not,

0:21:40.933 --> 0:21:41.996
they're not that much more

0:21:42.016 --> 0:21:44.438
expensive than a SATA drive, but, uh,

0:21:44.498 --> 0:21:45.680
so we've got 12 gigs SAS,

0:21:45.680 --> 0:21:47.501
20 terabyte drives,

0:21:47.701 --> 0:21:53.407
and they're probably about 400 to 450 us,

0:21:53.489 --> 0:21:54.549
I think somewhere around there.

0:21:55.150 --> 0:21:56.830
And some of those also 10K spinners,

0:21:56.891 --> 0:21:58.830
or are they all 7,200 RPM?

0:21:58.871 --> 0:22:00.332
They're all 7,200.

0:22:01.352 --> 0:22:01.932
But I mean,

0:22:01.951 --> 0:22:03.833
I don't know how much

0:22:03.913 --> 0:22:04.893
performance difference I'm

0:22:04.932 --> 0:22:05.593
really going to get.

0:22:05.613 --> 0:22:09.034
Because your faster spin

0:22:09.074 --> 0:22:10.875
rate sort of gives you a faster seek.

0:22:11.154 --> 0:22:13.155
But if you're just spraying

0:22:13.316 --> 0:22:14.675
data on block after block,

0:22:14.695 --> 0:22:16.376
I don't think it's too much of a issue.

0:22:16.676 --> 0:22:17.217
No, it does.

0:22:17.856 --> 0:22:18.336
No, sure it does.

0:22:18.636 --> 0:22:19.156
But I'm guessing your

0:22:19.176 --> 0:22:19.897
network limited anyway.

0:22:19.917 --> 0:22:20.018
Yeah.

0:22:21.198 --> 0:22:21.598
Those drives,

0:22:22.098 --> 0:22:23.580
even 5,400 RPM drives are

0:22:23.601 --> 0:22:25.102
probably faster than one gig a second.

0:22:25.122 --> 0:22:27.325
But you're not getting that anyway,

0:22:27.365 --> 0:22:29.467
so you're getting 400 and et cetera,

0:22:29.487 --> 0:22:29.787
et cetera.

0:22:30.647 --> 0:22:32.028
Local network's 25 gig.

0:22:32.930 --> 0:22:33.651
Oh, okay.

0:22:33.770 --> 0:22:33.911
Okay.

0:22:33.931 --> 0:22:34.291
All right.

0:22:34.332 --> 0:22:35.093
Then it would make a difference.

0:22:35.113 --> 0:22:35.492
Yeah.

0:22:35.653 --> 0:22:35.894
So...

0:22:37.848 --> 0:22:39.869
just to the local backups, 25 gig.

0:22:39.970 --> 0:22:41.549
And then we're working on a remote backup,

0:22:41.890 --> 0:22:42.690
but I'm hoping that I can

0:22:42.730 --> 0:22:43.851
actually just get a private

0:22:44.671 --> 0:22:48.692
link between the Colo data centers.

0:22:48.771 --> 0:22:49.451
So I can have,

0:22:50.613 --> 0:22:52.353
so the primary node at the

0:22:52.393 --> 0:22:53.813
moment is in Melbourne.

0:22:53.833 --> 0:22:56.034
So we're looking at putting

0:22:56.074 --> 0:22:57.034
another one in Sydney.

0:22:57.493 --> 0:22:58.835
And if we use the same data center,

0:22:58.855 --> 0:22:59.634
we're hoping to get like a

0:22:59.694 --> 0:23:01.816
private backhaul over to

0:23:01.875 --> 0:23:03.796
Sydney of like a 10 gig

0:23:03.836 --> 0:23:04.695
link or something like that,

0:23:04.836 --> 0:23:05.777
which is much cheaper than

0:23:05.797 --> 0:23:06.636
going over the internet.

0:23:07.096 --> 0:23:08.898
yeah really I figured it'd

0:23:08.919 --> 0:23:10.400
be way more expensive oh

0:23:10.420 --> 0:23:11.300
it's fucking way cheaper

0:23:11.701 --> 0:23:12.662
yeah oh they have they have

0:23:12.781 --> 0:23:13.702
they must have fiber drop

0:23:13.742 --> 0:23:14.544
between those two and so

0:23:14.564 --> 0:23:15.984
they just oh yeah there's

0:23:16.005 --> 0:23:17.026
dark fiber all over the

0:23:17.066 --> 0:23:19.788
place um yeah so yeah

0:23:19.807 --> 0:23:23.131
especially like the um uh

0:23:24.695 --> 0:23:25.676
I won't tell you the data center,

0:23:25.696 --> 0:23:26.638
but it's one of the bigger

0:23:26.719 --> 0:23:28.020
ones in Australia.

0:23:28.040 --> 0:23:30.364
And they're all tier four

0:23:30.403 --> 0:23:31.545
data centers with like

0:23:32.086 --> 0:23:33.847
backhaul between all of them.

0:23:33.928 --> 0:23:34.729
They've got dark fiber

0:23:34.769 --> 0:23:35.951
between the whole network

0:23:35.990 --> 0:23:36.811
of data centers.

0:23:36.832 --> 0:23:39.055
So you can just plug into them.

0:23:39.635 --> 0:23:40.695
You don't have to worry about uptime.

0:23:40.715 --> 0:23:42.537
You're just worried about... No,

0:23:42.696 --> 0:23:44.238
it's disaster recovery.

0:23:45.278 --> 0:23:46.198
If you have... Say the

0:23:46.238 --> 0:23:47.898
backup is up there and

0:23:47.939 --> 0:23:48.778
something happens to the

0:23:48.818 --> 0:23:49.659
node down here and I have

0:23:49.679 --> 0:23:50.420
to go... I don't know.

0:23:51.000 --> 0:23:52.380
Say for whatever reason I

0:23:52.400 --> 0:23:54.780
lose three drives and then

0:23:54.800 --> 0:23:59.843
it nukes that node and then

0:24:00.063 --> 0:24:01.403
for whatever reason at the

0:24:01.423 --> 0:24:02.703
same time something happens

0:24:02.763 --> 0:24:05.184
to the local backup machine

0:24:05.964 --> 0:24:06.785
and then you need to get

0:24:06.825 --> 0:24:07.705
your data from the...

0:24:08.959 --> 0:24:11.181
off-site backup then to do

0:24:11.221 --> 0:24:12.340
that well I mean just

0:24:12.401 --> 0:24:13.701
imagine if it's 50

0:24:13.701 --> 0:24:15.442
terabytes like well at that

0:24:15.482 --> 0:24:16.183
point you're definitely

0:24:16.203 --> 0:24:16.923
probably grabbing you're

0:24:16.943 --> 0:24:17.644
probably grabbing drives

0:24:17.704 --> 0:24:19.226
again I would just get in

0:24:19.266 --> 0:24:20.426
the car seriously yeah

0:24:20.467 --> 0:24:21.207
that's that would be the

0:24:21.227 --> 0:24:22.367
way to do it is you at some

0:24:22.387 --> 0:24:23.008
point it doesn't make any

0:24:23.028 --> 0:24:23.808
sense like it'd be faster

0:24:23.828 --> 0:24:25.049
just to go fly it down there

0:24:26.334 --> 0:24:27.934
right yeah exactly yeah yeah

0:24:28.575 --> 0:24:29.576
um but even like you'd have

0:24:29.596 --> 0:24:30.455
to take the whole machine

0:24:30.796 --> 0:24:33.178
like it's uh you couldn't

0:24:33.218 --> 0:24:34.738
even just take drives out

0:24:35.219 --> 0:24:38.760
by by the seat yes you and

0:24:38.780 --> 0:24:41.362
this 2u box sitting in in

0:24:41.422 --> 0:24:44.182
17a I mean sydney and

0:24:44.784 --> 0:24:46.464
melbourne are only a

0:24:46.505 --> 0:24:47.704
thousand k's apart so I'd

0:24:47.724 --> 0:24:48.586
probably just drive it

0:24:49.506 --> 0:24:50.747
rather than getting the

0:24:50.807 --> 0:24:52.448
fucking windows down server

0:24:52.468 --> 0:24:54.828
in the back seat yeah yeah

0:24:55.583 --> 0:24:56.303
Feet out the window.

0:24:56.323 --> 0:24:59.084
Feet out the window.

0:24:59.144 --> 0:25:00.144
ECDC on the radio.

0:25:00.263 --> 0:25:03.565
Just fucking haul my backups to Melbourne.

0:25:04.705 --> 0:25:05.526
I don't mind driving.

0:25:05.586 --> 0:25:07.746
It's from Tamworth to

0:25:07.786 --> 0:25:12.387
Melbourne is 12 and a half hours.

0:25:13.147 --> 0:25:14.587
It's about 12 and a half hours.

0:25:14.627 --> 0:25:15.328
I do it in one hit.

0:25:16.048 --> 0:25:17.169
I get just enough diesel in

0:25:17.189 --> 0:25:18.409
my car to get there in one hit.

0:25:20.210 --> 0:25:21.710
Don't even stop.

0:25:21.809 --> 0:25:22.411
Everybody's tired of us

0:25:22.431 --> 0:25:23.810
talking about fucking CR cab nodes.

0:25:25.717 --> 0:25:27.196
yeah well you know I didn't

0:25:27.376 --> 0:25:28.438
didn't see anyone say that

0:25:28.538 --> 0:25:30.837
but if that's what you're

0:25:30.877 --> 0:25:34.959
taking I'm bored yeah fry's

0:25:34.999 --> 0:25:36.900
not here today he's coming

0:25:36.940 --> 0:25:38.819
right now cycling next to a

0:25:38.880 --> 0:25:41.320
train he should be here by

0:25:41.361 --> 0:25:42.240
now he said he's gonna be

0:25:42.260 --> 0:25:42.881
here but he's probably

0:25:42.901 --> 0:25:44.221
making is he making tea or

0:25:44.260 --> 0:25:45.582
some shit and just he's

0:25:45.602 --> 0:25:46.261
probably listening on his

0:25:46.301 --> 0:25:48.241
phone making tea it's like

0:25:48.321 --> 0:25:50.423
I got time I got I got

0:25:50.542 --> 0:25:51.502
plenty of time I got time

0:25:52.304 --> 0:25:53.669
Although 38 minutes ago,

0:25:53.689 --> 0:25:55.757
he said he was five kilometers from home.

0:25:55.836 --> 0:25:57.584
So hopefully he didn't get pegged by a...

0:26:00.502 --> 0:26:01.182
Homeless person?

0:26:01.623 --> 0:26:03.104
By a Citroen driving the

0:26:03.144 --> 0:26:04.124
wrong way or something.

0:26:04.144 --> 0:26:06.183
Oh, right, right.

0:26:06.203 --> 0:26:07.025
A different kind of thing.

0:26:07.045 --> 0:26:07.464
Cyclist.

0:26:08.085 --> 0:26:09.805
Yeah.

0:26:10.184 --> 0:26:10.826
Yeah, yeah, yeah.

0:26:11.945 --> 0:26:12.326
Oh, yeah.

0:26:12.806 --> 0:26:13.066
Oh, yeah.

0:26:13.246 --> 0:26:14.626
He's fixing his hair before he hops in,

0:26:14.666 --> 0:26:15.047
I can tell.

0:26:15.067 --> 0:26:18.847
Yeah, it's for the viewers.

0:26:19.028 --> 0:26:21.167
Speaking of hair, Schultz,

0:26:21.627 --> 0:26:22.648
do you want to talk about

0:26:23.249 --> 0:26:24.009
why you're bald?

0:26:26.976 --> 0:26:28.997
I don't, but thank you for asking.

0:26:29.376 --> 0:26:30.457
I appreciate that.

0:26:30.497 --> 0:26:31.537
You seem like you've lost

0:26:31.557 --> 0:26:32.417
some hair since the last

0:26:32.458 --> 0:26:33.077
time that we were on a

0:26:33.117 --> 0:26:33.857
phone call together.

0:26:34.617 --> 0:26:37.019
Yeah, it's about a centimeter long now.

0:26:37.038 --> 0:26:38.439
I won't talk about it.

0:26:38.479 --> 0:26:38.798
Thank you.

0:26:40.420 --> 0:26:43.681
I don't know if the

0:26:43.740 --> 0:26:44.721
Americans are going to

0:26:44.861 --> 0:26:47.541
understand your metric units.

0:26:47.561 --> 0:26:50.643
That's true.

0:26:52.017 --> 0:26:54.336
actually centimeter is not

0:26:54.417 --> 0:26:56.238
even a scientific unit

0:26:56.298 --> 0:26:57.317
anyway I don't know if I

0:26:57.337 --> 0:26:58.438
like you using that

0:26:59.298 --> 0:27:01.499
centimeter isn't that one

0:27:01.898 --> 0:27:03.278
isn't that like two point

0:27:03.338 --> 0:27:05.059
something fluid ounces but

0:27:05.140 --> 0:27:06.500
only in a container that's

0:27:06.599 --> 0:27:08.799
like got a diameter of two

0:27:08.859 --> 0:27:09.859
inches or something that's

0:27:09.880 --> 0:27:10.740
probably how it works in

0:27:10.780 --> 0:27:12.780
america right no it's

0:27:12.820 --> 0:27:14.121
always about some english

0:27:14.240 --> 0:27:16.321
king's length of a finger

0:27:16.362 --> 0:27:17.461
between the knuckle and the

0:27:19.686 --> 0:27:20.886
That's what we base everything on,

0:27:20.928 --> 0:27:23.188
is some dead king's fucking

0:27:23.268 --> 0:27:26.049
hand length that happened 350 years ago.

0:27:26.089 --> 0:27:27.069
But we're going to hold on to it.

0:27:27.109 --> 0:27:27.549
We love it.

0:27:28.009 --> 0:27:29.151
It's the bridge of your nose.

0:27:30.510 --> 0:27:31.172
Standard unit.

0:27:31.892 --> 0:27:32.551
One inch and a half.

0:27:33.192 --> 0:27:34.212
I thought it was... Wasn't

0:27:34.232 --> 0:27:34.952
it this originally?

0:27:35.012 --> 0:27:36.354
Wasn't it this between these

0:27:36.394 --> 0:27:37.034
two originally?

0:27:37.473 --> 0:27:37.753
No.

0:27:38.335 --> 0:27:39.615
I am definitely talking shit.

0:27:39.755 --> 0:27:41.476
But none of those joints on

0:27:41.536 --> 0:27:42.776
my hands look to be an inch.

0:27:44.017 --> 0:27:44.497
Actually, yeah.

0:27:44.537 --> 0:27:45.518
Between the two knuckles

0:27:45.557 --> 0:27:46.478
could be around about an inch.

0:27:47.980 --> 0:27:48.721
I thought that's where it was.

0:27:48.741 --> 0:27:50.563
I thought that's where it started.

0:27:50.643 --> 0:27:51.403
I thought it was too.

0:27:51.423 --> 0:27:52.565
I actually use this as my...

0:27:52.585 --> 0:27:55.626
You're not thinking like a qubit.

0:27:57.188 --> 0:27:58.548
That's the forearm one, isn't it?

0:27:58.568 --> 0:28:00.210
It's your fucking system of measure.

0:28:00.230 --> 0:28:00.911
Why are you asking us?

0:28:01.250 --> 0:28:03.272
We just inherited this shit.

0:28:03.292 --> 0:28:04.913
Now we won't give it up.

0:28:05.714 --> 0:28:07.115
Wasn't qubits like Egyptian

0:28:07.215 --> 0:28:12.619
or pre... The one before... I'm tired,

0:28:12.680 --> 0:28:12.880
man.

0:28:13.039 --> 0:28:13.059
I...

0:28:15.114 --> 0:28:17.516
It should be like cranked, man.

0:28:17.536 --> 0:28:18.635
You're just like fucking

0:28:18.736 --> 0:28:19.836
blasted down here on your

0:28:19.856 --> 0:28:20.958
motorbike next to a train.

0:28:22.038 --> 0:28:22.778
Motorbike.

0:28:23.479 --> 0:28:25.520
No, pedal bike.

0:28:25.601 --> 0:28:26.801
Push bike, yeah.

0:28:26.902 --> 0:28:27.362
Motorbike.

0:28:28.323 --> 0:28:29.103
Did I say motorbike?

0:28:29.563 --> 0:28:30.483
You did.

0:28:30.804 --> 0:28:32.464
During the reign of King

0:28:32.664 --> 0:28:35.267
Edward II in the early 14th century,

0:28:35.307 --> 0:28:36.907
the inch was defined as

0:28:37.268 --> 0:28:40.770
three grains of barley, dry and round,

0:28:41.151 --> 0:28:42.832
placed end-to-end lengthwise.

0:28:44.413 --> 0:28:44.553
Wow.

0:28:45.240 --> 0:28:45.720
Here we are.

0:28:45.779 --> 0:28:46.421
Drawing around.

0:28:46.441 --> 0:28:47.060
Yeah, baby.

0:28:47.421 --> 0:28:49.801
They measure horses and hands, don't they?

0:28:51.063 --> 0:28:51.323
They do?

0:28:51.682 --> 0:28:53.183
Yep.

0:28:53.263 --> 0:28:54.424
I still use stone, right?

0:28:54.464 --> 0:28:55.484
Isn't stone still around?

0:28:55.505 --> 0:28:56.925
Oh, geez.

0:28:57.385 --> 0:28:58.446
It's quite boomer-ish.

0:28:59.146 --> 0:28:59.407
Is it?

0:28:59.948 --> 0:29:01.388
Typically, you'll know your weight.

0:29:02.189 --> 0:29:03.230
I think it's quite typical

0:29:03.289 --> 0:29:04.630
that I think in my generation,

0:29:04.670 --> 0:29:06.891
people would know their weight in both.

0:29:07.771 --> 0:29:09.633
I can kind of convert in my

0:29:09.653 --> 0:29:11.213
head between stone and kilograms,

0:29:11.233 --> 0:29:12.294
but if you ask me my weight,

0:29:12.513 --> 0:29:13.134
I would use...

0:29:14.266 --> 0:29:15.606
I would use kilograms

0:29:15.787 --> 0:29:17.807
because you configure bike

0:29:17.928 --> 0:29:21.430
cleats in kilograms and you

0:29:21.490 --> 0:29:23.671
configure ski binding in kilograms.

0:29:24.191 --> 0:29:24.711
Well,

0:29:24.771 --> 0:29:25.971
the two times I need to know my

0:29:26.011 --> 0:29:26.972
weight accurately are for

0:29:26.992 --> 0:29:28.733
the release tension on a ski binding,

0:29:28.753 --> 0:29:29.574
which granted I haven't

0:29:29.614 --> 0:29:30.474
needed for a few years,

0:29:30.714 --> 0:29:32.355
and release tension for a bike cleat.

0:29:32.776 --> 0:29:33.155
Other than that,

0:29:33.175 --> 0:29:34.257
I don't need to know my weight.

0:29:35.037 --> 0:29:35.616
Is that true?

0:29:36.317 --> 0:29:37.178
Bike cleats are supposed to

0:29:37.198 --> 0:29:38.179
be adjusted by your weight?

0:29:39.492 --> 0:29:41.653
It helps,

0:29:41.894 --> 0:29:44.433
especially if you're using zero degree.

0:29:46.034 --> 0:29:48.174
I cycle with road cleats,

0:29:48.654 --> 0:29:49.835
not mountain bike cleats.

0:29:50.134 --> 0:29:53.036
I use zero degree cleats as well.

0:29:53.276 --> 0:29:56.136
They really lock you in.

0:29:56.277 --> 0:29:57.156
They're a bit finickety.

0:29:57.196 --> 0:29:58.237
If you have them too light,

0:29:58.737 --> 0:29:59.896
they release too easy if

0:29:59.936 --> 0:30:00.916
you have them too.

0:30:01.018 --> 0:30:03.218
You need to tune it to what

0:30:03.258 --> 0:30:04.478
your weight is a little bit.

0:30:06.278 --> 0:30:07.078
Do they measure the height

0:30:07.098 --> 0:30:08.138
of horses in bike cleats?

0:30:09.266 --> 0:30:11.146
Yes, but only in France.

0:30:13.207 --> 0:30:14.186
The horse is 12 cleats.

0:30:16.367 --> 0:30:17.248
Une cleat.

0:30:20.328 --> 0:30:24.329
Le cheval est 14 cleats.

0:30:25.911 --> 0:30:29.152
N'est-ce pas?

0:30:29.372 --> 0:30:32.633
Do you know why the US doesn't use metric?

0:30:32.833 --> 0:30:33.853
This is actually a true story.

0:30:33.873 --> 0:30:34.272
Do you know why?

0:30:35.834 --> 0:30:36.253
Stop it.

0:30:36.314 --> 0:30:37.054
We don't give a fuck.

0:30:37.869 --> 0:30:39.351
No, no, this is, this is really good.

0:30:39.530 --> 0:30:39.790
Okay.

0:30:40.211 --> 0:30:41.972
So metric was invented

0:30:42.153 --> 0:30:43.753
sometime way back yonder, right?

0:30:44.273 --> 0:30:45.615
So guy creates the metric

0:30:45.634 --> 0:30:47.195
system and he sends it to

0:30:47.375 --> 0:30:48.096
all the different like

0:30:48.176 --> 0:30:49.218
presidents and Kings and

0:30:49.238 --> 0:30:49.817
stuff in the world.

0:30:49.837 --> 0:30:50.298
Okay.

0:30:50.317 --> 0:30:50.919
He just sends the mail.

0:30:50.939 --> 0:30:51.419
They're like, Hey,

0:30:51.439 --> 0:30:52.140
this is this really cool

0:30:52.160 --> 0:30:52.940
system I came up with.

0:30:53.220 --> 0:30:53.800
You should use it.

0:30:54.560 --> 0:30:56.061
Most people were like, this is awesome.

0:30:56.122 --> 0:30:56.982
Yes, we're doing it.

0:30:57.782 --> 0:30:59.104
Here's what happened to the United States.

0:30:59.944 --> 0:31:00.944
Pirates intercepted it.

0:31:01.105 --> 0:31:02.066
They intercepted the ship.

0:31:02.086 --> 0:31:02.707
Okay.

0:31:03.560 --> 0:31:04.020
This is true.

0:31:04.342 --> 0:31:05.202
Pirates intercept the ship.

0:31:05.563 --> 0:31:06.083
They're going through the

0:31:06.103 --> 0:31:07.244
documents and they see this letter.

0:31:07.644 --> 0:31:08.846
They see this letter, they read it,

0:31:09.165 --> 0:31:10.007
and they're like, holy shit,

0:31:10.027 --> 0:31:11.028
this is really important.

0:31:11.428 --> 0:31:12.489
We're going to deliver it to

0:31:12.509 --> 0:31:13.150
the United States.

0:31:13.170 --> 0:31:13.711
And so they did.

0:31:14.191 --> 0:31:15.192
But because they're pirates,

0:31:15.853 --> 0:31:16.432
I believe they were

0:31:16.512 --> 0:31:18.015
executed and the letter was just burnt.

0:31:21.117 --> 0:31:22.858
So it's just some really odd

0:31:22.999 --> 0:31:23.799
fluke of why we...

0:31:25.182 --> 0:31:26.143
Don't do metric.

0:31:26.762 --> 0:31:27.202
You sure?

0:31:27.242 --> 0:31:28.183
It's not institutional

0:31:28.223 --> 0:31:29.423
inertia because bear in mind,

0:31:29.443 --> 0:31:30.644
like in the UK,

0:31:30.664 --> 0:31:32.605
we still use miles distance weirdly.

0:31:32.786 --> 0:31:33.606
Like there's a bunch of

0:31:33.626 --> 0:31:34.467
things where we're just like,

0:31:34.866 --> 0:31:35.907
you guess mix and match, right?

0:31:36.387 --> 0:31:36.627
Yeah.

0:31:36.647 --> 0:31:38.449
We're very mixed match like pints.

0:31:38.888 --> 0:31:41.330
Um, and people like.

0:31:42.506 --> 0:31:43.566
there is a whole generation

0:31:43.605 --> 0:31:44.727
of people that lose their

0:31:44.747 --> 0:31:46.646
mind if you use anything

0:31:46.727 --> 0:31:48.167
other than imperial still

0:31:48.748 --> 0:31:49.807
and that they will like

0:31:49.827 --> 0:31:50.689
they will vote for any

0:31:50.749 --> 0:31:52.769
political party that uses

0:31:52.828 --> 0:31:55.849
imperial um they'll be like

0:31:55.890 --> 0:31:57.391
okay so we're the party of

0:31:57.490 --> 0:31:58.631
docking your salary every

0:31:58.671 --> 0:32:02.051
month but we will allow you

0:32:02.192 --> 0:32:03.333
to measure your beer in

0:32:03.393 --> 0:32:05.453
pints forever not anybody's

0:32:05.473 --> 0:32:06.814
even threatening it but

0:32:08.680 --> 0:32:08.880
Yeah.

0:32:09.440 --> 0:32:10.161
And also,

0:32:10.480 --> 0:32:11.561
we'll make sure that you can

0:32:11.602 --> 0:32:12.883
measure distance in miles.

0:32:13.262 --> 0:32:14.284
But we are going to dock

0:32:14.304 --> 0:32:16.505
your pay every month and give it to,

0:32:17.566 --> 0:32:21.948
I don't know, ourselves to be richer.

0:32:23.028 --> 0:32:23.950
Well, I don't know.

0:32:23.990 --> 0:32:25.911
Look, you know what?

0:32:26.391 --> 0:32:27.491
In this country, right,

0:32:27.592 --> 0:32:28.633
when the upper classes,

0:32:28.972 --> 0:32:30.834
be it in the form of the Tory party,

0:32:30.953 --> 0:32:31.734
win an election...

0:32:32.535 --> 0:32:33.335
that's basically what

0:32:33.355 --> 0:32:34.316
they're doing they go and

0:32:34.336 --> 0:32:35.836
give themselves a tax break

0:32:35.977 --> 0:32:37.436
usually via wealth taxes

0:32:37.557 --> 0:32:38.698
trusts and money laundering

0:32:38.738 --> 0:32:39.718
through the city of london

0:32:40.357 --> 0:32:41.759
and then every working age

0:32:41.818 --> 0:32:44.279
person um faces various

0:32:44.339 --> 0:32:45.540
regressive taxes that mean

0:32:45.601 --> 0:32:47.241
that the the share of tax

0:32:47.281 --> 0:32:48.622
burden is overwhelmingly

0:32:48.682 --> 0:32:50.222
borne by people between

0:32:50.282 --> 0:32:51.824
sort of 18 and about 50

0:32:51.824 --> 0:32:53.663
that work and that don't

0:32:53.703 --> 0:32:54.765
vote for the tory party

0:32:55.674 --> 0:32:57.635
um by and large uh so you

0:32:57.675 --> 0:32:59.176
know I'm being facetious

0:32:59.217 --> 0:32:59.998
but it's also how british

0:33:00.038 --> 0:33:02.159
politics works um which is

0:33:02.199 --> 0:33:03.400
they do dock your pay and

0:33:03.420 --> 0:33:04.820
they do put it in their own

0:33:04.861 --> 0:33:06.902
pocket and they do just

0:33:07.082 --> 0:33:08.163
basically promise you that

0:33:08.202 --> 0:33:09.084
they will let you measure

0:33:09.124 --> 0:33:11.065
stuff in miles unlike this

0:33:11.204 --> 0:33:12.226
goddamn french that

0:33:12.266 --> 0:33:12.865
measures things in

0:33:12.986 --> 0:33:14.507
kilometers but there's no

0:33:14.886 --> 0:33:17.368
but do do uh road signs in

0:33:17.388 --> 0:33:18.430
the uk they don't show

0:33:18.470 --> 0:33:19.830
miles at all do they it's

0:33:19.851 --> 0:33:21.211
all yeah everything's miles

0:33:21.632 --> 0:33:23.313
everything's miles yeah really oh is it

0:33:25.102 --> 0:33:27.182
So everything is miles an hour,

0:33:27.722 --> 0:33:29.604
miles distance, pints.

0:33:30.505 --> 0:33:31.684
No, it's not.

0:33:32.726 --> 0:33:33.786
But then weight is kilograms.

0:33:34.126 --> 0:33:35.267
Weight is kilograms, not pounds.

0:33:35.307 --> 0:33:35.988
So pounds is gone.

0:33:36.048 --> 0:33:36.847
Weight is kilograms,

0:33:36.948 --> 0:33:38.429
unless you're talking about a person,

0:33:38.568 --> 0:33:39.930
in which case you might get either.

0:33:40.390 --> 0:33:43.912
Height is always feet and inches,

0:33:43.991 --> 0:33:44.291
actually.

0:33:44.771 --> 0:33:47.314
I know what my height is in

0:33:47.334 --> 0:33:49.595
centimeters because I'm not a psychopath,

0:33:49.674 --> 0:33:51.915
but if you asked me my height,

0:33:51.976 --> 0:33:52.936
I would tell you six foot three.

0:33:54.582 --> 0:33:56.242
obviously so okay do you use

0:33:56.303 --> 0:33:58.864
liters per kilogram or

0:33:58.884 --> 0:34:00.585
liters per kilometer or do

0:34:00.625 --> 0:34:01.925
you use miles per gallon

0:34:02.046 --> 0:34:03.186
what's liters per kilometer

0:34:03.946 --> 0:34:06.409
miles yeah that was miles

0:34:06.449 --> 0:34:08.989
per gallon yeah really yeah

0:34:09.030 --> 0:34:11.751
wow okay but but if you

0:34:11.791 --> 0:34:14.413
were like but if you were

0:34:14.432 --> 0:34:15.574
like yeah I want a pint of beer

0:34:16.108 --> 0:34:17.028
I want a pint of milk.

0:34:17.610 --> 0:34:19.570
So milk and beer come in pints.

0:34:20.150 --> 0:34:23.072
But if I was buying a soda,

0:34:23.492 --> 0:34:24.152
it would be five.

0:34:24.192 --> 0:34:26.132
It would be a half liter or

0:34:26.413 --> 0:34:28.094
one liter or two liters.

0:34:28.114 --> 0:34:29.474
And if you gave me a pint of

0:34:29.693 --> 0:34:32.255
Coca-Cola in any situation

0:34:32.295 --> 0:34:34.235
other than a pub, there would be, I would,

0:34:34.777 --> 0:34:36.496
I think I can legally get

0:34:36.536 --> 0:34:37.737
above an hour and shoot you

0:34:37.818 --> 0:34:39.378
as long as it's midday on a Sunday.

0:34:39.759 --> 0:34:39.998
And you're,

0:34:40.159 --> 0:34:41.458
but you're buying fuel in gallons.

0:34:42.320 --> 0:34:42.480
Yeah.

0:34:43.659 --> 0:34:43.860
Okay.

0:34:44.340 --> 0:34:45.300
So you're buying fuel in gallons.

0:34:45.320 --> 0:34:45.840
Fuck.

0:34:49.875 --> 0:34:50.596
Maybe it's liters.

0:34:50.655 --> 0:34:51.195
I can't remember.

0:34:52.297 --> 0:34:56.079
I thought it was in liters.

0:35:00.043 --> 0:35:01.284
Do you know what?

0:35:01.304 --> 0:35:02.025
Do you own a car?

0:35:02.585 --> 0:35:05.688
I don't own a car.

0:35:05.728 --> 0:35:06.748
I think it's a gallon.

0:35:07.108 --> 0:35:08.510
I think the price is per gallon.

0:35:08.530 --> 0:35:09.590
You've seen a gas station, right?

0:35:09.610 --> 0:35:11.612
You've seen the signs at the gas station?

0:35:11.632 --> 0:35:12.693
The last time I bought petrol,

0:35:16.230 --> 0:35:17.411
Obviously, I know how to drive a car.

0:35:17.431 --> 0:35:18.550
I have a driving license and stuff,

0:35:18.590 --> 0:35:19.771
but I've always just rented

0:35:19.831 --> 0:35:21.351
a car or borrowed a car.

0:35:21.391 --> 0:35:22.132
So I haven't really had to

0:35:22.152 --> 0:35:22.773
worry about petrol.

0:35:22.793 --> 0:35:23.733
So I haven't really thought about it.

0:35:26.554 --> 0:35:27.855
Friday's got 99 problems,

0:35:27.875 --> 0:35:28.715
but gas ain't one.

0:35:30.536 --> 0:35:31.195
Yeah.

0:35:31.356 --> 0:35:32.655
The last time I bought gas was literally,

0:35:32.996 --> 0:35:34.317
do you have a petrol mower?

0:35:34.577 --> 0:35:35.396
You know, like a lawnmower?

0:35:35.697 --> 0:35:36.177
Yeah, sure.

0:35:37.237 --> 0:35:39.938
I remember about 15 years ago now,

0:35:40.659 --> 0:35:42.539
my dad going to mow something, being like,

0:35:42.860 --> 0:35:43.460
I'm out of petrol.

0:35:43.521 --> 0:35:44.320
Go get me some petrol.

0:35:45.164 --> 0:35:46.144
And then they'd be like, no,

0:35:46.204 --> 0:35:46.945
you go get it.

0:35:46.985 --> 0:35:49.005
It's like, no, I've got other stuff to do.

0:35:49.085 --> 0:35:49.865
I'll give you a fiver if you

0:35:49.885 --> 0:35:51.547
could get the whatever,

0:35:51.827 --> 0:35:52.907
a jerry can of petrol.

0:35:53.547 --> 0:35:55.007
I just went to a gas station

0:35:55.027 --> 0:35:55.947
and bought some petrol.

0:35:56.367 --> 0:35:57.068
It was literally the last

0:35:57.088 --> 0:35:58.088
time I bought petrol.

0:35:58.809 --> 0:36:02.369
Jack Potato says it's leaders at the pump,

0:36:02.949 --> 0:36:06.230
but everyone talks about the MPGs.

0:36:06.250 --> 0:36:08.130
I just did an image search

0:36:08.150 --> 0:36:09.471
for UK gas stations,

0:36:09.530 --> 0:36:10.811
and they're all dollars per liter.

0:36:12.744 --> 0:36:13.704
That, that does make sense.

0:36:13.806 --> 0:36:14.346
I was like,

0:36:14.365 --> 0:36:16.327
I had a little wibbly there

0:36:16.347 --> 0:36:16.786
when I was like,

0:36:16.827 --> 0:36:18.407
I'm sure it's not gallons.

0:36:18.447 --> 0:36:19.288
That seems weird.

0:36:20.489 --> 0:36:22.429
You were talking about car and gallons,

0:36:22.550 --> 0:36:23.210
but then you would,

0:36:23.550 --> 0:36:24.570
you would buy it in liters.

0:36:24.771 --> 0:36:26.050
Well, it wouldn't be a,

0:36:26.331 --> 0:36:27.112
it wouldn't be a court.

0:36:27.472 --> 0:36:27.632
Right.

0:36:27.811 --> 0:36:27.911
And,

0:36:28.072 --> 0:36:29.972
and usually a gallon is a large unit

0:36:30.012 --> 0:36:32.074
of measure for fuel in Europe.

0:36:32.695 --> 0:36:32.815
Right.

0:36:32.835 --> 0:36:34.034
Cause usually it's like per liter,

0:36:34.434 --> 0:36:35.376
which everybody here can't

0:36:35.436 --> 0:36:36.376
figure out because we buy

0:36:36.396 --> 0:36:37.876
in a gallon because all our cars get,

0:36:37.916 --> 0:36:38.996
should get mass, you know,

0:36:39.018 --> 0:36:39.438
miles per gallon.

0:36:40.157 --> 0:36:40.197
Um,

0:36:40.237 --> 0:36:41.398
and they're too large and everything

0:36:41.438 --> 0:36:41.599
else.

0:36:41.679 --> 0:36:41.838
Right.

0:36:41.878 --> 0:36:41.978
So.

0:36:43.396 --> 0:36:44.297
It does make sense that it

0:36:44.336 --> 0:36:45.637
would be a smaller unit of

0:36:45.697 --> 0:36:46.657
measure than gallon.

0:36:47.498 --> 0:36:48.139
And I wouldn't think it

0:36:48.179 --> 0:36:49.019
would be quart because that

0:36:49.039 --> 0:36:49.599
would be weird.

0:36:50.121 --> 0:36:50.860
I've never heard of that.

0:36:50.900 --> 0:36:51.942
So liters.

0:36:51.961 --> 0:36:53.923
What you're saying is that

0:36:55.485 --> 0:36:57.166
the American vehicle uses

0:36:57.326 --> 0:36:59.246
so much fuel that it's just

0:36:59.447 --> 0:37:00.608
unfeasible to have a

0:37:00.668 --> 0:37:01.608
measurement in liters

0:37:02.009 --> 0:37:03.891
because the numbers is too darn big.

0:37:04.311 --> 0:37:05.032
Nobody would understand it.

0:37:05.072 --> 0:37:06.052
Well, nobody here would understand it.

0:37:06.092 --> 0:37:06.413
So that's.

0:37:06.893 --> 0:37:07.032
Yeah.

0:37:07.793 --> 0:37:08.614
Like gallon.

0:37:09.355 --> 0:37:10.596
Well, I mean, to our credit,

0:37:11.157 --> 0:37:12.318
unlike what we just talked about,

0:37:12.597 --> 0:37:13.679
we do measure cars in miles

0:37:13.719 --> 0:37:15.300
per gallon and we buy gallons of gas.

0:37:15.320 --> 0:37:16.280
So at least there's some,

0:37:17.262 --> 0:37:19.422
there's some consistency.

0:37:19.884 --> 0:37:21.405
How many gallons of gas does

0:37:21.445 --> 0:37:25.387
your car take?

0:37:25.608 --> 0:37:27.710
That tank holds 35 gallons.

0:37:29.110 --> 0:37:31.753
So that's like a billion liters, I think,

0:37:31.893 --> 0:37:32.393
something like that.

0:37:32.472 --> 0:37:33.954
So my tank holds 95 liters.

0:37:38.619 --> 0:37:39.481
How many gallons per liter?

0:37:39.501 --> 0:37:40.141
95 liters.

0:37:40.181 --> 0:37:42.483
That's quite a lot of liters.

0:37:42.643 --> 0:37:43.403
Four liters per gallon.

0:37:45.170 --> 0:37:47.913
quite right 3.78 okay yeah

0:37:48.152 --> 0:37:50.514
so all right my bad so so

0:37:50.554 --> 0:37:52.976
this truck holds 132 liters

0:37:53.838 --> 0:37:56.840
that is a sweet jesus if

0:37:56.960 --> 0:37:58.061
we're on a highway this

0:37:58.121 --> 0:37:59.121
totally makes sense though

0:37:59.141 --> 0:38:00.063
because you know when you

0:38:00.083 --> 0:38:01.443
watch like a disaster movie

0:38:01.583 --> 0:38:02.744
and then like the survivors

0:38:02.764 --> 0:38:04.005
are like fucking siphoning

0:38:04.487 --> 0:38:06.007
they siphon one suv and

0:38:06.027 --> 0:38:06.989
they're like yeah we've got

0:38:07.028 --> 0:38:08.269
enough petrol to last our

0:38:08.309 --> 0:38:09.610
survivor camp like a year

0:38:09.650 --> 0:38:10.590
and you're like yeah you

0:38:10.610 --> 0:38:12.193
siphon one fucking truck no

0:38:12.333 --> 0:38:13.514
bullshit I'm calling bullshit

0:38:14.293 --> 0:38:16.056
Or they drive to the other

0:38:16.115 --> 0:38:18.217
side of America without ever filling up.

0:38:19.599 --> 0:38:20.320
This, and this,

0:38:20.380 --> 0:38:22.202
this truck is not like on the highway.

0:38:22.222 --> 0:38:22.983
It is like, it isn't that bad.

0:38:23.003 --> 0:38:24.644
Even it's got big, stupid tires and big,

0:38:24.744 --> 0:38:25.626
stupid suspension.

0:38:25.646 --> 0:38:27.708
And all this kind of big, like big,

0:38:27.728 --> 0:38:30.030
like zero coefficient, like zero, zero.

0:38:30.951 --> 0:38:32.110
coefficient in terms of like

0:38:32.210 --> 0:38:33.391
smoothness in the air right

0:38:33.411 --> 0:38:35.172
it's like a billboard with

0:38:35.253 --> 0:38:38.114
knobby tires dragging a

0:38:38.333 --> 0:38:39.753
pile of sandpaper behind it

0:38:39.793 --> 0:38:40.614
literally it's like really

0:38:40.634 --> 0:38:41.715
one of this but even with

0:38:41.735 --> 0:38:42.594
the way to submission

0:38:42.614 --> 0:38:44.936
literally it's like I don't

0:38:44.956 --> 0:38:45.655
give a fuck what's coming

0:38:45.695 --> 0:38:46.996
at me and that even with

0:38:47.056 --> 0:38:48.516
that I would probably still

0:38:48.556 --> 0:38:50.898
get 500 miles out of a tank

0:38:52.778 --> 0:38:53.579
which is pretty good

0:38:54.608 --> 0:38:57.068
not bad so I get about from

0:38:57.088 --> 0:38:59.371
my 95 liters I get probably

0:38:59.431 --> 0:39:04.773
close to 900 kilometers so

0:39:04.793 --> 0:39:06.215
about the same mileage it's

0:39:06.255 --> 0:39:07.775
about 600 yeah yeah what do

0:39:07.795 --> 0:39:08.635
you get what is that like

0:39:08.635 --> 0:39:09.836
25 miles a gallon what is

0:39:09.856 --> 0:39:11.217
that thing it's how many

0:39:11.277 --> 0:39:12.177
liters per hectare it's

0:39:12.318 --> 0:39:14.340
about it's about 10 liters

0:39:14.460 --> 0:39:17.221
per hundred uh 10 yeah 10

0:39:17.221 --> 0:39:18.181
liters per 100 kilometers

0:39:19.346 --> 0:39:21.106
What's that Simpsons thing

0:39:21.146 --> 0:39:22.387
when Homer's in the little

0:39:22.427 --> 0:39:22.907
car and he's like,

0:39:23.748 --> 0:39:24.789
what country is this from?

0:39:24.949 --> 0:39:26.110
It no longer exists.

0:39:26.550 --> 0:39:30.592
He's like, and he gets 35, 35, what is it?

0:39:30.612 --> 0:39:31.632
It's like 35 liters of

0:39:31.711 --> 0:39:32.992
kerosene per the hectare.

0:39:33.012 --> 0:39:35.233
I can't remember what the hell,

0:39:35.614 --> 0:39:36.894
what the fuck the unit of measure is.

0:39:37.835 --> 0:39:39.335
So what'd you say?

0:39:39.396 --> 0:39:39.797
How long?

0:39:40.677 --> 0:39:42.197
About 10 liters per the

0:39:42.237 --> 0:39:43.018
hundred kilometers.

0:39:43.378 --> 0:39:44.679
He listens to Game of Modes,

0:39:44.719 --> 0:39:45.619
the Validator podcast.

0:39:45.639 --> 0:39:45.960
Fucking hell.

0:39:46.755 --> 0:39:46.934
Right,

0:39:47.135 --> 0:39:48.155
but don't you guys measure in

0:39:48.514 --> 0:39:49.936
distance per liter,

0:39:50.195 --> 0:39:51.476
not liters per distance?

0:39:53.556 --> 0:39:54.396
Don't you usually say like

0:39:54.456 --> 0:39:58.277
it's like 100 miles or... No,

0:39:58.297 --> 0:40:00.159
because we say miles per gallon,

0:40:00.438 --> 0:40:01.559
but don't you usually do

0:40:01.579 --> 0:40:02.699
like liters per hundred?

0:40:02.719 --> 0:40:03.659
Isn't that what it is?

0:40:03.679 --> 0:40:04.659
Like liters per hundred

0:40:04.679 --> 0:40:05.599
kilometers or something like that?

0:40:05.639 --> 0:40:06.559
Is that what you said?

0:40:06.599 --> 0:40:07.440
Yeah, that's what you said.

0:40:10.463 --> 0:40:12.103
I was too busy at home

0:40:12.123 --> 0:40:14.186
wearing that little car with the B on it.

0:40:15.246 --> 0:40:16.726
Like miles per gallon,

0:40:17.027 --> 0:40:19.570
if you're doing kilometers per liter.

0:40:20.369 --> 0:40:20.550
Yeah,

0:40:20.570 --> 0:40:21.891
it's one over whatever you're telling me.

0:40:22.291 --> 0:40:23.733
10 kilometers per liter, I guess that is.

0:40:25.594 --> 0:40:26.114
Something like that.

0:40:26.135 --> 0:40:27.114
I don't know.

0:40:27.295 --> 0:40:28.255
The inverse of whatever I

0:40:28.275 --> 0:40:30.378
was talking about previously.

0:40:30.378 --> 0:40:32.099
40 kilometers per gallon,

0:40:32.298 --> 0:40:35.222
which is about 24, 25 miles per gallon.

0:40:35.302 --> 0:40:35.981
That seems about right.

0:40:36.943 --> 0:40:37.083
Right?

0:40:37.563 --> 0:40:38.063
Something like that?

0:40:39.005 --> 0:40:39.505
Plus or minus?

0:40:41.916 --> 0:40:42.356
Who knows?

0:40:42.856 --> 0:40:43.797
I'm just like,

0:40:45.438 --> 0:40:47.199
there's that creepy sketch in, uh,

0:40:47.360 --> 0:40:48.380
in monkey dust, the,

0:40:48.480 --> 0:40:49.460
the creepy and weird

0:40:49.501 --> 0:40:50.541
British comedy show that

0:40:50.561 --> 0:40:51.782
I'm forever trying to get

0:40:51.802 --> 0:40:55.224
you guys to watch where somebody is sad,

0:40:55.264 --> 0:40:56.244
some traffic lights and

0:40:56.346 --> 0:40:58.427
three robotic looking cyclists pull out,

0:40:58.706 --> 0:41:00.989
pull up and go, we are the cyclists.

0:41:01.409 --> 0:41:05.130
How quaint a car powered by dead animals.

0:41:05.771 --> 0:41:07.733
We merely require sunshine

0:41:07.913 --> 0:41:09.554
and food to power our Lycra

0:41:09.594 --> 0:41:10.835
clad bodies through the air.

0:41:13.164 --> 0:41:14.065
and then they just coast

0:41:14.166 --> 0:41:15.146
they coast off with the

0:41:15.186 --> 0:41:16.128
without even moving their

0:41:16.148 --> 0:41:18.108
legs and it's yeah it's

0:41:18.148 --> 0:41:19.090
like an encounter with the

0:41:19.130 --> 0:41:21.791
uncanny all right I'm

0:41:21.811 --> 0:41:22.652
putting a link to crazy

0:41:22.672 --> 0:41:28.956
about gloves used cars it

0:41:28.976 --> 0:41:29.938
doesn't have a simpsons

0:41:29.978 --> 0:41:31.139
reference it's not a real

0:41:31.219 --> 0:41:32.360
episode of game of nodes

0:41:32.400 --> 0:41:33.440
that's what he's getting

0:41:33.460 --> 0:41:34.822
out in the road he's like put it in h

0:41:39.436 --> 0:41:41.617
It's difficult now because I

0:41:41.797 --> 0:41:42.657
look around the world.

0:41:42.838 --> 0:41:43.478
I have a son.

0:41:43.778 --> 0:41:44.579
Things have changed.

0:41:44.739 --> 0:41:45.199
And I'm like,

0:41:45.940 --> 0:41:47.141
what will I show them to give

0:41:47.181 --> 0:41:48.161
them a moral compass?

0:41:48.181 --> 0:41:49.043
And I'm like, ah, yeah,

0:41:49.503 --> 0:41:51.284
seasons one to six of The Simpsons.

0:41:51.425 --> 0:41:52.925
It's absolutely what it is.

0:41:52.965 --> 0:41:54.507
Where the fuck will I get such a thing?

0:41:54.547 --> 0:41:55.708
Because they're on season

0:41:55.708 --> 0:41:58.889
100 now on the televisual device.

0:41:59.110 --> 0:42:00.771
And it's just insanity.

0:42:01.351 --> 0:42:02.632
It's like, ah, Tony Blair,

0:42:02.693 --> 0:42:03.634
noted war criminal.

0:42:03.673 --> 0:42:04.753
We must include him in an

0:42:04.793 --> 0:42:05.954
episode because he was once

0:42:05.994 --> 0:42:06.815
British Prime Minister.

0:42:06.835 --> 0:42:07.556
Let's get him in.

0:42:08.336 --> 0:42:09.117
It's like, it's just,

0:42:09.237 --> 0:42:11.039
everybody gets to go on the Simpsons.

0:42:12.400 --> 0:42:13.780
That's why I've had hard

0:42:13.800 --> 0:42:15.842
drive spinning for 20 years of this shit,

0:42:16.021 --> 0:42:16.202
right?

0:42:16.322 --> 0:42:18.403
Like that episode of crazy

0:42:18.423 --> 0:42:19.284
Bach loves has been

0:42:19.364 --> 0:42:20.125
spinning around on a

0:42:20.164 --> 0:42:22.806
platter at 5,400 RPMs for 20 years,

0:42:23.728 --> 0:42:24.789
waiting for that moment.

0:42:24.809 --> 0:42:26.050
Cause it's like,

0:42:26.130 --> 0:42:28.391
I think I need to get this clip.

0:42:28.411 --> 0:42:29.692
That's right.

0:42:29.711 --> 0:42:31.233
I tell you what the, the, you know,

0:42:31.713 --> 0:42:33.514
we don't people say about

0:42:33.574 --> 0:42:34.775
the utility of blockchain.

0:42:34.815 --> 0:42:34.936
Yeah.

0:42:35.764 --> 0:42:37.228
proof that we never needed a

0:42:37.268 --> 0:42:38.068
blockchain to have

0:42:38.108 --> 0:42:39.110
everything we needed on the

0:42:39.150 --> 0:42:40.954
internet is that frinkiak

0:42:41.014 --> 0:42:42.657
has existed for like 10

0:42:42.657 --> 0:42:44.880
years and frinkiak is the

0:42:44.900 --> 0:42:45.961
best website on the

0:42:46.001 --> 0:42:47.965
internet bar none like oh

0:42:50.389 --> 0:42:51.070
I remember.

0:42:52.271 --> 0:42:53.670
Do you know that you must know the site?

0:42:53.710 --> 0:42:54.210
I mean, right.

0:42:54.471 --> 0:42:55.072
Yeah, I do.

0:42:55.811 --> 0:42:57.431
And when they introduced the

0:42:57.592 --> 0:42:58.913
automatic gift feature in

0:42:58.952 --> 0:43:00.592
like 2015 or whatever it was,

0:43:00.672 --> 0:43:01.233
I was just like,

0:43:01.873 --> 0:43:03.974
how like the internet is completed.

0:43:04.014 --> 0:43:04.414
We're done.

0:43:04.474 --> 0:43:05.574
Like technology doesn't get

0:43:05.635 --> 0:43:07.215
any better than this.

0:43:07.795 --> 0:43:09.255
I think of a Simpsons quote.

0:43:09.556 --> 0:43:10.797
I put it in a Frankie act.

0:43:11.516 --> 0:43:13.460
It's got an elastic search

0:43:13.500 --> 0:43:15.021
cluster or whatever with fuzzy match,

0:43:15.041 --> 0:43:16.523
so I don't even need to get it perfect.

0:43:16.563 --> 0:43:17.405
I could be really tired.

0:43:17.425 --> 0:43:18.746
I could get that quote a little bit wrong.

0:43:19.027 --> 0:43:20.128
It'll find me the episode,

0:43:20.168 --> 0:43:21.411
and it'll spit a gif out.

0:43:22.092 --> 0:43:22.351
That's it.

0:43:26.675 --> 0:43:30.018
I do miss the archives of response memes.

0:43:30.818 --> 0:43:31.599
There used to be a folder on

0:43:31.639 --> 0:43:33.121
my desktop which would be

0:43:33.681 --> 0:43:36.923
sorted by emotion and then

0:43:37.023 --> 0:43:38.686
intention and all sorts of

0:43:38.706 --> 0:43:39.425
nonsense just to have the

0:43:39.527 --> 0:43:42.349
perfect gif or the perfect response meme.

0:43:42.769 --> 0:43:44.231
Those don't exist anymore.

0:43:44.550 --> 0:43:45.251
I'll send you my folder.

0:43:46.092 --> 0:43:47.072
yeah I was gonna say oh you

0:43:47.193 --> 0:43:49.976
still have yours I have

0:43:50.036 --> 0:43:51.077
some checked into github

0:43:51.117 --> 0:43:53.920
yeah totally totally

0:43:54.159 --> 0:43:56.322
inappropriate 1994 gifts

0:43:56.382 --> 0:43:57.623
and yeah there's tons of

0:43:57.643 --> 0:43:59.164
them I have like a folder

0:43:59.204 --> 0:44:00.346
full of like it's called

0:44:00.385 --> 0:44:01.907
like essential work stuff

0:44:02.027 --> 0:44:03.248
and it's just like all the

0:44:03.268 --> 0:44:05.471
random that I need on a laptop

0:44:06.471 --> 0:44:07.512
when I buy a new laptop.

0:44:07.532 --> 0:44:10.335
So it's like the template for taxes,

0:44:11.217 --> 0:44:12.498
like a couple of basic

0:44:12.559 --> 0:44:16.242
things for like admin

0:44:16.262 --> 0:44:17.565
things that I find super useful,

0:44:17.625 --> 0:44:18.425
some spreadsheets that I

0:44:18.465 --> 0:44:21.108
always end up using over and over again.

0:44:21.849 --> 0:44:23.371
um a folder full of memes a

0:44:23.692 --> 0:44:24.893
folder full of photoshop

0:44:24.932 --> 0:44:27.755
templates uh you know like

0:44:27.896 --> 0:44:29.317
a bunch of fonts you know

0:44:29.336 --> 0:44:30.597
like the random fonts that

0:44:30.637 --> 0:44:32.699
you use for like posting

0:44:33.161 --> 0:44:33.800
you know like a little

0:44:33.820 --> 0:44:35.202
8-bit font you know when

0:44:35.222 --> 0:44:36.503
you're looking to do you

0:44:36.543 --> 0:44:37.184
know the thing where it's

0:44:37.204 --> 0:44:39.525
like the the pokemon gif where it's like

0:44:40.387 --> 0:44:41.728
you can photoshop in so and

0:44:41.748 --> 0:44:43.048
so wants to fight and all

0:44:43.068 --> 0:44:44.030
of that kind of thing like

0:44:44.050 --> 0:44:45.871
that's a specific font so

0:44:45.911 --> 0:44:47.032
when I've used fonts for

0:44:47.072 --> 0:44:48.152
like shit posting those

0:44:48.193 --> 0:44:49.032
sorts of things I always

0:44:49.052 --> 0:44:50.474
save the font in a folder

0:44:50.534 --> 0:44:51.934
so that if I have a new

0:44:51.974 --> 0:44:52.996
laptop and a new copy of

0:44:53.016 --> 0:44:54.177
photoshop I can load in

0:44:54.217 --> 0:44:56.378
that font all the fonts for

0:44:56.398 --> 0:44:57.358
the shit posting are just

0:44:57.418 --> 0:44:58.659
there in photoshop should I

0:44:58.719 --> 0:44:59.721
ever open it I'm just like

0:45:01.121 --> 0:45:03.684
maybe today's the time to shit post um

0:45:04.847 --> 0:45:05.728
I've gone through this folder.

0:45:05.768 --> 0:45:09.670
This is the oldest file in here.

0:45:09.750 --> 0:45:10.911
This is exactly what we're talking about.

0:45:10.931 --> 0:45:13.313
My oldest file in here is 1997.

0:45:13.432 --> 0:45:16.775
There's some shit in here, man.

0:45:18.476 --> 0:45:19.257
There's some shit in here.

0:45:19.376 --> 0:45:22.458
I'm surprised it's even got metadata.

0:45:22.498 --> 0:45:22.800
I know.

0:45:22.840 --> 0:45:24.581
All these GIFs are like 64 by 64 and shit.

0:45:24.601 --> 0:45:26.581
It's like one of those types of things.

0:45:26.601 --> 0:45:27.222
They're perfect.

0:45:34.197 --> 0:45:35.619
Is it like a comic book guy

0:45:35.659 --> 0:45:37.760
downloading the picture of Janeway?

0:45:38.621 --> 0:45:39.722
Simpsons and all.

0:45:39.742 --> 0:45:41.244
Yeah, it's a bunch of stupid shit.

0:45:42.505 --> 0:45:45.989
You know, Say is up to 55 million blocks.

0:45:47.130 --> 0:45:47.831
We'll have to have a 100

0:45:47.831 --> 0:45:48.632
million block party.

0:45:50.914 --> 0:45:51.293
Speaking of 100.

0:45:51.373 --> 0:45:53.717
Next week.

0:45:53.817 --> 0:45:55.778
There's another important 100 coming up.

0:45:56.079 --> 0:45:56.619
Yeah, the 100.

0:45:56.818 --> 0:45:58.400
Let's not celebrate it.

0:46:01.206 --> 0:46:02.547
Well, you know, the perverse thing, right,

0:46:02.568 --> 0:46:05.648
is that as soon as we get past 100 to 104,

0:46:05.648 --> 0:46:07.110
then it is the two-year Annie.

0:46:07.269 --> 0:46:09.050
So, like,

0:46:09.210 --> 0:46:10.972
it's just milestone after

0:46:11.012 --> 0:46:12.193
milestone at this point.

0:46:12.612 --> 0:46:13.373
I thought we were going 100

0:46:13.373 --> 0:46:14.114
and going to go back down.

0:46:15.775 --> 0:46:16.014
No, 29.

0:46:16.155 --> 0:46:18.675
Count back down to zero.

0:46:18.715 --> 0:46:19.496
That's all, folks.

0:46:20.717 --> 0:46:20.998
Yeah.

0:46:21.818 --> 0:46:23.458
Everything's about to end.

0:46:23.498 --> 0:46:24.719
Yeah,

0:46:25.000 --> 0:46:27.280
will the token price come back before

0:46:27.340 --> 0:46:28.081
we hit zero?

0:46:29.775 --> 0:46:31.076
Will we get to the bull market?

0:46:31.576 --> 0:46:33.476
Well, we had a bull market a few weeks ago,

0:46:33.536 --> 0:46:33.797
right?

0:46:34.117 --> 0:46:34.938
Yeah, I think we might have.

0:46:34.958 --> 0:46:35.657
Another two years?

0:46:35.677 --> 0:46:37.059
Another two years till the next one?

0:46:38.139 --> 0:46:38.259
Yep.

0:46:38.320 --> 0:46:38.800
I enjoyed it.

0:46:39.820 --> 0:46:41.481
Yeah, we had a good innings.

0:46:41.501 --> 0:46:42.061
That was a good run.

0:46:42.601 --> 0:46:43.742
It was nice.

0:46:43.802 --> 0:46:45.943
It was 48 hours on January

0:46:46.063 --> 0:46:46.764
8th or whatever it was.

0:46:47.284 --> 0:46:48.125
Yeah,

0:46:48.144 --> 0:46:49.965
there was a few hours we felt alive

0:46:50.005 --> 0:46:50.226
again.

0:46:51.465 --> 0:46:53.347
Didn't make any of my price targets back,

0:46:53.387 --> 0:46:54.288
hold it at zero again.

0:46:55.579 --> 0:46:55.880
Yeah,

0:46:56.099 --> 0:46:58.521
so... I'm going to wait for 10 more

0:46:58.561 --> 0:46:58.902
percent.

0:46:59.983 --> 0:47:02.565
Just that fucking... $2.50, man.

0:47:02.666 --> 0:47:05.989
Just got to get there.

0:47:06.329 --> 0:47:07.429
Juno's going to a dollar.

0:47:08.550 --> 0:47:09.610
So hang on a second.

0:47:10.893 --> 0:47:13.494
It's just... So it's the end of tax year,

0:47:13.875 --> 0:47:14.474
right?

0:47:14.556 --> 0:47:15.135
Only for you.

0:47:15.675 --> 0:47:16.036
Today...

0:47:17.068 --> 0:47:18.568
Oh, so no, isn't the end of the tax year.

0:47:19.128 --> 0:47:19.670
No, it's the,

0:47:19.809 --> 0:47:21.391
you've got to pay your taxes deadline.

0:47:21.831 --> 0:47:22.751
Make sure you filed your

0:47:22.771 --> 0:47:24.152
return and pay your taxes deadline.

0:47:24.713 --> 0:47:27.755
So if you haven't, uh,

0:47:27.876 --> 0:47:28.735
you might have a different

0:47:28.815 --> 0:47:30.137
end of tax year and whatnot,

0:47:30.396 --> 0:47:31.237
unless there's something

0:47:31.277 --> 0:47:32.119
very special going on with

0:47:32.139 --> 0:47:32.778
your accounting.

0:47:33.179 --> 0:47:34.099
That shit needs to have been

0:47:34.139 --> 0:47:35.061
filed before today.

0:47:35.161 --> 0:47:36.422
You might've got it sorted months ago,

0:47:36.581 --> 0:47:37.501
in which case, good job.

0:47:38.043 --> 0:47:39.583
Otherwise today's your last day to do it.

0:47:39.684 --> 0:47:40.664
So, uh,

0:47:40.764 --> 0:47:42.005
if you're listening to this podcast

0:47:42.146 --> 0:47:44.086
on catch up on a podcast player in the UK,

0:47:44.106 --> 0:47:45.608
and you're thinking, damn,

0:47:46.550 --> 0:47:48.132
forgot to do that well it

0:47:48.291 --> 0:47:48.972
probably is already

0:47:49.012 --> 0:47:50.094
february the first and you

0:47:50.353 --> 0:47:51.295
might need to call up

0:47:52.521 --> 0:47:53.663
HMRC.

0:47:55.063 --> 0:47:56.625
And if you're very,

0:47:57.224 --> 0:47:58.525
if you're contrite about it,

0:47:59.047 --> 0:48:01.128
I've found they quite often

0:48:01.188 --> 0:48:02.369
will just give you an

0:48:02.409 --> 0:48:03.228
extension of a couple of

0:48:03.248 --> 0:48:04.610
weeks to get your shit together.

0:48:04.630 --> 0:48:05.451
You have found,

0:48:05.490 --> 0:48:06.411
how many times have you not

0:48:06.452 --> 0:48:07.192
paid your tax?

0:48:07.893 --> 0:48:09.132
Only the very first time.

0:48:10.634 --> 0:48:14.376
And it was because I had

0:48:14.416 --> 0:48:14.976
basically made some

0:48:14.996 --> 0:48:16.797
mistakes on the form on the 31st.

0:48:16.878 --> 0:48:18.358
I was like, I can't submit this.

0:48:18.579 --> 0:48:19.760
The very first time,

0:48:19.840 --> 0:48:22.882
like when you were 15?

0:48:22.882 --> 0:48:23.021
Well,

0:48:23.041 --> 0:48:24.782
we don't submit tax returns in the UK.

0:48:25.804 --> 0:48:26.384
You don't have to.

0:48:26.403 --> 0:48:27.445
He's talking business.

0:48:28.945 --> 0:48:29.286
Yeah.

0:48:29.306 --> 0:48:31.067
So if you just work for a company,

0:48:31.086 --> 0:48:32.246
you don't submit tax returns.

0:48:32.286 --> 0:48:33.248
They do your taxes for you

0:48:33.967 --> 0:48:34.869
because it's pay as you earn.

0:48:36.989 --> 0:48:37.210
What?

0:48:38.289 --> 0:48:38.990
In the UK,

0:48:39.130 --> 0:48:40.170
if you just go work for another

0:48:40.231 --> 0:48:41.052
company your entire life,

0:48:41.112 --> 0:48:42.572
you never have to fill in a tax return.

0:48:42.753 --> 0:48:43.172
Most people,

0:48:45.193 --> 0:48:46.155
overwhelming majority of

0:48:46.175 --> 0:48:47.775
people in the UK never see a tax return.

0:48:47.815 --> 0:48:48.615
I've never filled one in.

0:48:49.215 --> 0:48:50.476
do they not earn any income

0:48:50.516 --> 0:48:51.617
outside their normal job?

0:48:52.157 --> 0:48:52.958
You've got no side hustle.

0:48:53.398 --> 0:48:55.199
You have a threshold.

0:48:55.460 --> 0:48:56.380
You have a threshold before

0:48:56.400 --> 0:48:57.161
you have to report it.

0:48:59.184 --> 0:49:00.664
So like if you go like sell

0:49:00.684 --> 0:49:02.146
stuff at car boot sales, right?

0:49:02.427 --> 0:49:03.467
Or just like you get rid of

0:49:03.487 --> 0:49:04.547
an old car for 500 quid,

0:49:04.588 --> 0:49:06.789
you don't have to declare that.

0:49:07.170 --> 0:49:08.612
Or you've got an NFT problem.

0:49:09.958 --> 0:49:11.219
you have an afc problem you

0:49:11.478 --> 0:49:12.699
probably have to declare it

0:49:12.719 --> 0:49:14.280
because then it's cap gains

0:49:14.340 --> 0:49:15.222
and you do need to list the

0:49:15.322 --> 0:49:17.302
assets um but I'm I'm not

0:49:17.322 --> 0:49:18.684
an accountant so citation

0:49:18.704 --> 0:49:19.704
need on that one I think

0:49:19.744 --> 0:49:20.905
until you hit the threshold

0:49:21.025 --> 0:49:21.545
maybe you don't need to

0:49:21.585 --> 0:49:22.827
worry about it you would

0:49:22.847 --> 0:49:23.887
need to keep a track of

0:49:23.927 --> 0:49:24.907
what the value is though

0:49:24.967 --> 0:49:25.768
just in case you ever did

0:49:25.809 --> 0:49:27.750
sell it um but yeah so most

0:49:27.769 --> 0:49:28.690
people never fill out a tax

0:49:28.731 --> 0:49:29.751
return but I've always

0:49:29.831 --> 0:49:32.112
worked more than one job um

0:49:32.934 --> 0:49:34.474
since I finished university

0:49:34.494 --> 0:49:35.815
like 15 years ago or whatever so

0:49:36.760 --> 0:49:38.382
i I had to fill in the tax

0:49:38.422 --> 0:49:39.342
return but I was tired and

0:49:39.382 --> 0:49:41.123
stupid and 22 years old or

0:49:41.143 --> 0:49:44.324
whatever and so uh I cocked

0:49:44.364 --> 0:49:46.005
it up because I left it to

0:49:46.025 --> 0:49:47.126
the deadline because that's

0:49:47.146 --> 0:49:48.646
what I always do and so I

0:49:48.686 --> 0:49:51.067
had income for fy 20 yes I

0:49:53.429 --> 0:49:54.809
had to call I had to call

0:49:54.829 --> 0:49:56.070
them up and say look guys I

0:49:56.090 --> 0:49:57.030
just need to recalculate

0:49:57.070 --> 0:49:57.871
this it's going to take me

0:49:57.911 --> 0:49:59.690
a day I'm really sorry um I

0:49:59.751 --> 0:50:00.552
am going to pay it and they

0:50:00.572 --> 0:50:00.992
were just like

0:50:02.509 --> 0:50:03.248
I guess they probably looked

0:50:03.268 --> 0:50:04.369
at my details and they were like,

0:50:04.409 --> 0:50:06.329
he's a fucking 23-year-old idiot.

0:50:06.891 --> 0:50:08.050
Let's just give him the other piece.

0:50:08.431 --> 0:50:10.072
It's like he's not making shit,

0:50:10.092 --> 0:50:10.871
so it doesn't really matter.

0:50:10.952 --> 0:50:11.672
Yeah, exactly.

0:50:11.692 --> 0:50:14.432
I think that year I made

0:50:14.512 --> 0:50:15.954
less than minimum wage

0:50:16.253 --> 0:50:17.414
because of reasons.

0:50:18.295 --> 0:50:18.755
Okay, son.

0:50:19.777 --> 0:50:21.619
Yeah, I paid some.

0:50:22.260 --> 0:50:23.460
You just come back when you

0:50:23.481 --> 0:50:24.541
scrape up enough jelly

0:50:24.601 --> 0:50:25.682
babies to pay your bill.

0:50:25.702 --> 0:50:28.726
Yeah, it was a little bit like that.

0:50:28.786 --> 0:50:30.286
The amount I had to pay was small.

0:50:30.867 --> 0:50:31.927
So anyway, yeah,

0:50:31.947 --> 0:50:33.230
tax returns and everything.

0:50:33.369 --> 0:50:34.351
Get that squared away today.

0:50:34.471 --> 0:50:35.612
If you're listening to this on catch up,

0:50:35.692 --> 0:50:38.014
then I feel bad for you.

0:50:38.054 --> 0:50:38.494
Fine town.

0:50:39.295 --> 0:50:42.177
Yeah, get on the blower.

0:50:43.719 --> 0:50:45.739
Have a word with your man at HMRC.

0:50:45.760 --> 0:50:46.440
So end of January,

0:50:46.460 --> 0:50:47.621
you have to have it all figured out, huh?

0:50:48.648 --> 0:50:52.251
Yeah, for the preceding.

0:50:52.351 --> 0:50:53.690
So if your tax year ends,

0:50:53.710 --> 0:50:54.992
for most people it ends in April,

0:50:55.672 --> 0:50:56.393
and then you need to have

0:50:56.432 --> 0:50:57.532
it figured out and paid on

0:50:57.552 --> 0:50:59.894
the 31st of January the following year.

0:50:59.914 --> 0:50:59.954
Oh,

0:50:59.974 --> 0:51:00.735
so you're talking April 22 to April 23

0:51:00.735 --> 0:51:01.215
due January 24.

0:51:01.215 --> 0:51:01.315
Yeah.

0:51:01.335 --> 0:51:01.514
Oh, fuck.

0:51:01.534 --> 0:51:02.655
What the hell?

0:51:02.675 --> 0:51:02.795
What?

0:51:02.815 --> 0:51:03.576
January 24th?

0:51:15.733 --> 0:51:17.655
You have nine months to

0:51:17.675 --> 0:51:18.275
figure it out or whatever

0:51:18.295 --> 0:51:18.735
the hell that is.

0:51:20.094 --> 0:51:20.795
Get your shit together.

0:51:21.215 --> 0:51:24.775
Yeah, I mean... US, we get three months.

0:51:25.056 --> 0:51:25.856
Actually, three and a half months.

0:51:26.956 --> 0:51:28.536
But sometimes it requires

0:51:28.556 --> 0:51:29.318
quite a bit of work.

0:51:29.878 --> 0:51:30.617
Corporate returns are due on

0:51:30.657 --> 0:51:32.659
March 15th for the last year.

0:51:33.159 --> 0:51:35.159
So we have basically, what is that,

0:51:35.159 --> 0:51:35.539
105 days?

0:51:36.219 --> 0:51:37.599
And then personal returns

0:51:37.639 --> 0:51:38.679
are due 30 days after that.

0:51:38.719 --> 0:51:40.181
So you have 135 days.

0:51:41.240 --> 0:51:41.541
That's it.

0:51:42.101 --> 0:51:42.840
Or you do an extension.

0:51:43.422 --> 0:51:44.942
We get 10 and a half months...

0:51:47.065 --> 0:51:47.324
Yeah, see,

0:51:47.385 --> 0:51:48.346
now I know what I'm talking about.

0:51:48.365 --> 0:51:49.746
Those are reasonable timelines.

0:51:50.146 --> 0:51:51.367
Well, personally,

0:51:52.168 --> 0:51:53.088
extensions you can always do.

0:51:53.108 --> 0:51:55.070
You have to pay on April,

0:51:55.110 --> 0:51:56.490
but you can file later.

0:51:57.411 --> 0:51:58.952
So you can file 10 and a half months later,

0:51:58.972 --> 0:51:59.673
you can do an extension,

0:52:00.014 --> 0:52:01.235
but the money is owed on April 15th.

0:52:02.644 --> 0:52:03.865
For personal taxes in the US.

0:52:04.045 --> 0:52:04.907
In Australia, though,

0:52:05.007 --> 0:52:09.070
I think... So our end of FY

0:52:09.130 --> 0:52:10.411
is at the end of June, right?

0:52:11.992 --> 0:52:13.032
The sixth month.

0:52:13.932 --> 0:52:16.994
And then if you don't have an accountant,

0:52:17.275 --> 0:52:18.376
you have to have it done by

0:52:18.396 --> 0:52:19.697
the end of August, I think.

0:52:21.077 --> 0:52:22.079
Or sometime in August.

0:52:22.599 --> 0:52:24.159
But if you do have an accountant,

0:52:25.420 --> 0:52:26.461
then you can have it done

0:52:26.541 --> 0:52:29.384
in 14th of May the following year.

0:52:29.403 --> 0:52:30.405
What?

0:52:30.425 --> 0:52:30.565
What?

0:52:31.561 --> 0:52:33.063
yeah that's a bit weird just

0:52:33.443 --> 0:52:36.724
here is you know time well

0:52:36.744 --> 0:52:37.463
you know accountants are

0:52:37.503 --> 0:52:38.463
busy they can't just do

0:52:38.523 --> 0:52:41.385
everyone's you have to pay

0:52:41.545 --> 0:52:43.166
on account so we have the

0:52:43.206 --> 0:52:44.166
thing where you have to pay

0:52:44.206 --> 0:52:46.126
your bill and then you also

0:52:46.206 --> 0:52:48.447
pay the first payment of

0:52:48.628 --> 0:52:50.469
half of you you pay the

0:52:50.528 --> 0:52:51.949
first payment of half of

0:52:52.028 --> 0:52:53.670
your tax bill from the last

0:52:53.710 --> 0:52:56.550
tax year as a prepayment

0:52:56.590 --> 0:52:57.331
for the coming one

0:52:58.458 --> 0:52:59.059
Jesus Christ,

0:52:59.099 --> 0:53:00.201
they really fucking strained

0:53:00.221 --> 0:53:01.181
their brain coming up with that,

0:53:01.202 --> 0:53:01.523
didn't they?

0:53:01.963 --> 0:53:05.146
So we have the same amount.

0:53:05.847 --> 0:53:08.150
Then you have already paid

0:53:08.190 --> 0:53:09.110
it by the time it rolls

0:53:09.150 --> 0:53:10.172
around next year and you

0:53:10.193 --> 0:53:10.992
just get a refund.

0:53:11.074 --> 0:53:12.755
It's a super weird system.

0:53:13.436 --> 0:53:14.376
So here...

0:53:16.639 --> 0:53:18.400
So if it's an individual tax,

0:53:18.420 --> 0:53:19.181
like if you don't have a

0:53:19.922 --> 0:53:20.661
company or whatever,

0:53:21.422 --> 0:53:23.143
if it's just your own individual tax,

0:53:23.744 --> 0:53:25.266
then if you have income

0:53:25.425 --> 0:53:28.907
outside of your regular job,

0:53:29.288 --> 0:53:31.150
so a regular job, you get pay G tax,

0:53:31.210 --> 0:53:31.369
right?

0:53:31.409 --> 0:53:32.150
It's like what you were

0:53:32.190 --> 0:53:34.351
talking about before, the fray.

0:53:35.393 --> 0:53:37.614
You just pay tax every time you get paid.

0:53:37.813 --> 0:53:39.596
It calculates and then pays a tax.

0:53:39.635 --> 0:53:40.315
It's never right,

0:53:40.396 --> 0:53:42.077
but it's approximately

0:53:42.518 --> 0:53:43.478
around about what you would

0:53:43.518 --> 0:53:44.059
expect to pay.

0:53:45.099 --> 0:53:47.920
Um, and then you, if,

0:53:48.181 --> 0:53:50.081
if you have income outside of that,

0:53:50.601 --> 0:53:52.603
then you get away with it

0:53:52.623 --> 0:53:53.443
for the first year,

0:53:53.503 --> 0:53:54.364
but then you do your tax

0:53:54.384 --> 0:53:55.505
return and then you have to pay it.

0:53:55.565 --> 0:53:55.764
Right.

0:53:56.045 --> 0:53:57.025
So say if you buy a rental

0:53:57.045 --> 0:53:57.726
property or something and

0:53:57.746 --> 0:53:58.525
you're renting your property,

0:53:58.545 --> 0:54:00.306
you're getting some rental income.

0:54:00.347 --> 0:54:01.146
That's not getting all

0:54:01.226 --> 0:54:03.548
completely chewed up by fucking interest.

0:54:03.568 --> 0:54:03.989
Um,

0:54:04.309 --> 0:54:05.750
Then say you get like another 10,000,

0:54:05.750 --> 0:54:06.409
right?

0:54:06.731 --> 0:54:08.871
And then you do your tax turn.

0:54:08.891 --> 0:54:09.532
They say, okay,

0:54:09.572 --> 0:54:10.492
you've got this other 10,000.

0:54:10.492 --> 0:54:12.875
You owe us $3,000 of that as tax.

0:54:13.315 --> 0:54:14.195
You pay your fucking tax.

0:54:14.715 --> 0:54:15.615
And then the following year,

0:54:15.655 --> 0:54:17.016
they send you a little letter that says,

0:54:17.036 --> 0:54:18.878
okay, now every single quarter,

0:54:18.918 --> 0:54:21.539
you have to give us $750.

0:54:21.539 --> 0:54:23.342
So that we know that you've,

0:54:24.603 --> 0:54:25.525
that's what we estimate

0:54:25.545 --> 0:54:26.846
your tax is going to be for

0:54:26.865 --> 0:54:27.947
your rental property, right?

0:54:28.728 --> 0:54:29.648
And then at the end of the year,

0:54:29.668 --> 0:54:30.309
if it's different,

0:54:30.369 --> 0:54:31.972
you get a refund or you pay extra.

0:54:32.431 --> 0:54:33.592
So that's similar to that.

0:54:34.815 --> 0:54:35.355
In business,

0:54:35.375 --> 0:54:36.717
you have to do a business

0:54:36.777 --> 0:54:38.257
activity statement every three months.

0:54:39.018 --> 0:54:42.623
that says we we have this

0:54:42.682 --> 0:54:44.726
amount this is how much gst

0:54:44.766 --> 0:54:45.646
we have to give back to the

0:54:45.686 --> 0:54:46.367
government or the

0:54:46.708 --> 0:54:47.528
government has to give back

0:54:47.548 --> 0:54:49.710
to us and based on our

0:54:49.851 --> 0:54:51.813
profit and loss is gst

0:54:51.853 --> 0:54:54.496
sales tax yeah yeah that so

0:54:54.516 --> 0:54:55.438
we report that every

0:54:55.478 --> 0:54:56.938
quarter but all the rest of

0:54:56.998 --> 0:54:57.940
it you just do once a year

0:54:58.929 --> 0:55:00.010
Okay, well,

0:55:00.289 --> 0:55:02.831
we think we've made this much

0:55:02.891 --> 0:55:03.791
profit for the quarter,

0:55:03.831 --> 0:55:04.592
so we'll give you a little

0:55:04.632 --> 0:55:06.673
bit of... We don't have to

0:55:06.713 --> 0:55:07.393
declare any of that.

0:55:07.534 --> 0:55:09.074
We just say we've had

0:55:09.135 --> 0:55:10.476
like... We made like a

0:55:10.516 --> 0:55:11.456
pretty hard distinction

0:55:11.496 --> 0:55:13.038
between vatable income and

0:55:13.097 --> 0:55:14.059
non-vatable income.

0:55:14.079 --> 0:55:15.478
Okay.

0:55:16.769 --> 0:55:18.351
And actually companies that

0:55:18.771 --> 0:55:19.952
there's a whole different thing.

0:55:20.012 --> 0:55:21.072
I don't really understand this.

0:55:21.132 --> 0:55:22.472
So there's a whole different

0:55:22.512 --> 0:55:23.592
thing where if you're a

0:55:23.652 --> 0:55:24.833
company that does

0:55:25.114 --> 0:55:26.253
activities that mean the

0:55:26.293 --> 0:55:28.295
majority of your income is

0:55:28.375 --> 0:55:31.536
like stocks and shares or

0:55:31.757 --> 0:55:33.297
other assets or whatever,

0:55:33.358 --> 0:55:35.818
it's not really like trading activity.

0:55:35.998 --> 0:55:37.458
You get filed away as a

0:55:37.518 --> 0:55:39.000
whole different other type of company.

0:55:41.297 --> 0:55:42.336
And then I think your

0:55:42.376 --> 0:55:44.358
reporting might be different, but we're,

0:55:44.378 --> 0:55:46.257
we're like a consultancy structure.

0:55:46.297 --> 0:55:46.617
So,

0:55:47.257 --> 0:55:49.219
so our company tax rates are different.

0:55:49.699 --> 0:55:50.699
If you're a company that

0:55:50.778 --> 0:55:52.199
earns money from passive

0:55:52.398 --> 0:55:53.599
investment or a company

0:55:53.619 --> 0:55:56.079
that earns money from active, um,

0:55:56.380 --> 0:55:56.739
business.

0:55:57.880 --> 0:56:00.081
So if you just own a bunch

0:56:00.101 --> 0:56:01.260
of shares in a company,

0:56:01.981 --> 0:56:03.402
your tax rates higher than

0:56:03.501 --> 0:56:05.902
if you were like, you know,

0:56:06.742 --> 0:56:09.083
shoveling dirt from the

0:56:09.103 --> 0:56:09.943
ground to a trailer.

0:56:12.485 --> 0:56:13.545
I mean, you'd hope so, right?

0:56:14.726 --> 0:56:14.987
Yeah.

0:56:15.387 --> 0:56:18.088
Because those guys just

0:56:19.068 --> 0:56:20.568
making their money off their shares.

0:56:21.469 --> 0:56:22.550
That's money for nothing and

0:56:22.570 --> 0:56:23.750
your chicks for free, right?

0:56:24.269 --> 0:56:24.510
I mean,

0:56:24.570 --> 0:56:25.670
at the end... We've got to move all

0:56:25.690 --> 0:56:27.431
these TVs and microwave ovens,

0:56:27.472 --> 0:56:28.012
you know what I mean?

0:56:28.791 --> 0:56:30.092
At the very end of the day,

0:56:30.172 --> 0:56:30.733
it doesn't make...

0:56:32.534 --> 0:56:34.396
any difference really in

0:56:34.476 --> 0:56:36.860
that a company with a

0:56:36.900 --> 0:56:38.402
higher tax rate has less

0:56:38.442 --> 0:56:40.684
cat working capital um

0:56:41.304 --> 0:56:42.246
because they're paying more

0:56:42.306 --> 0:56:44.668
tax but when like companies

0:56:45.250 --> 0:56:45.789
the whole point of a

0:56:45.849 --> 0:56:46.911
company is to make money so

0:56:46.931 --> 0:56:48.954
you can distribute um you

0:56:48.974 --> 0:56:50.556
know profits to the shareholders right

0:56:51.036 --> 0:56:52.416
So when you distribute the

0:56:52.456 --> 0:56:54.358
profits to the shareholders in Australia,

0:56:54.577 --> 0:56:56.018
you distribute them with a

0:56:56.057 --> 0:56:57.699
thing that's called a franking credit.

0:56:58.159 --> 0:56:58.778
So basically,

0:56:59.320 --> 0:57:00.119
all of the tax that the

0:57:00.179 --> 0:57:01.280
company's already paid

0:57:01.740 --> 0:57:03.521
accumulates franking credits.

0:57:04.161 --> 0:57:05.461
And then when you distribute

0:57:05.481 --> 0:57:08.063
the profits to shareholders,

0:57:08.603 --> 0:57:09.744
they get distributed with a

0:57:09.784 --> 0:57:10.445
franking credit.

0:57:10.824 --> 0:57:13.146
So 100% franked is 30%.

0:57:13.606 --> 0:57:15.547
That means that if I give you a dollar,

0:57:15.567 --> 0:57:15.967
I actually...

0:57:16.206 --> 0:57:17.807
I actually give you $1.30.

0:57:18.228 --> 0:57:19.369
This sounds like a scam.

0:57:19.710 --> 0:57:23.172
I don't want to buy your NFT project.

0:57:23.231 --> 0:57:24.213
I don't understand what the

0:57:24.273 --> 0:57:25.414
banking NFT is.

0:57:25.954 --> 0:57:28.496
I'm not interested.

0:57:29.536 --> 0:57:31.197
It's to avoid double taxation, right?

0:57:31.237 --> 0:57:33.500
So if your company earns a

0:57:33.539 --> 0:57:34.521
bunch of money and pays a

0:57:34.561 --> 0:57:35.722
bunch of tax on its income,

0:57:36.302 --> 0:57:38.003
and then it distributes the

0:57:38.043 --> 0:57:39.905
profits to you as the shareholder,

0:57:39.925 --> 0:57:40.684
and then you have to pay

0:57:40.684 --> 0:57:42.246
$0.30 on the dollar tax again,

0:57:43.007 --> 0:57:43.648
then the government's

0:57:43.688 --> 0:57:45.349
getting fucking like 70

0:57:45.349 --> 0:57:48.353
cents for every dollar the company earns.

0:57:48.414 --> 0:57:49.494
It's double taxation.

0:57:49.534 --> 0:57:51.317
So what we do here is we

0:57:51.336 --> 0:57:52.257
give you a dollar and we

0:57:52.297 --> 0:57:53.340
give you a franking credit.

0:57:54.221 --> 0:57:55.983
So we actually give you 70

0:57:55.983 --> 0:57:58.505
cents as a distribution.

0:57:58.686 --> 0:58:00.568
What we do here is the

0:58:00.608 --> 0:58:01.570
company pays the taxes.

0:58:02.731 --> 0:58:05.692
And then the director taking

0:58:05.711 --> 0:58:06.751
a shareholder's dividend

0:58:07.492 --> 0:58:10.572
pays taxes and that's it.

0:58:12.813 --> 0:58:13.554
And that's it.

0:58:14.014 --> 0:58:18.416
But the dividend to

0:58:18.456 --> 0:58:19.695
shareholders is obviously

0:58:19.835 --> 0:58:21.516
not counted against profit either.

0:58:21.617 --> 0:58:24.496
So it's a dividend out of profit,

0:58:24.556 --> 0:58:25.498
which I guess is probably

0:58:25.518 --> 0:58:26.177
the same everywhere.

0:58:27.597 --> 0:58:29.478
And I'm sure then somewhere

0:58:29.557 --> 0:58:31.880
in that they kind of cut

0:58:31.960 --> 0:58:33.320
off a slice for the upper

0:58:33.360 --> 0:58:34.681
classes and just hand it

0:58:34.782 --> 0:58:35.862
over to them to spend on

0:58:35.902 --> 0:58:36.983
horses or something.

0:58:37.764 --> 0:58:38.184
Hounds.

0:58:38.905 --> 0:58:39.864
Yeah, just hounds.

0:58:40.905 --> 0:58:41.126
Right.

0:58:41.706 --> 0:58:43.447
It is one of the most insane things to me,

0:58:43.547 --> 0:58:43.788
right?

0:58:43.907 --> 0:58:44.547
Hounds.

0:58:45.469 --> 0:58:45.588
Right.

0:58:45.949 --> 0:58:48.570
So you guys might not know this,

0:58:48.670 --> 0:58:51.833
but hunting with dogs, like organized,

0:58:51.853 --> 0:58:52.193
you know,

0:58:52.833 --> 0:58:55.014
red tails and poshos riding

0:58:55.054 --> 0:58:55.896
around on horses,

0:58:55.976 --> 0:58:57.217
ripping foxes to pieces.

0:58:57.876 --> 0:59:00.039
was only banned like 10 years ago,

0:59:00.039 --> 0:59:04.141
15 years ago, like really recently.

0:59:04.340 --> 0:59:05.181
Why would they ban it?

0:59:06.222 --> 0:59:06.443
Yeah.

0:59:06.483 --> 0:59:07.123
Why was it banned?

0:59:07.302 --> 0:59:08.563
Because it's insanely cruel

0:59:08.583 --> 0:59:09.885
to foxes and fox

0:59:09.925 --> 0:59:11.106
populations are quite small.

0:59:11.286 --> 0:59:12.567
And we are a tiny Island

0:59:12.626 --> 0:59:14.047
with an E with an ecology

0:59:14.088 --> 0:59:15.849
that is completely out of whack.

0:59:16.713 --> 0:59:17.152
Well then,

0:59:17.552 --> 0:59:19.054
you can bring that practice over

0:59:19.114 --> 0:59:20.755
here because we've got a

0:59:20.855 --> 0:59:21.715
shitload of foxes.

0:59:22.675 --> 0:59:23.715
We'll have a go at the pigs.

0:59:24.235 --> 0:59:25.496
Hey, you know what, man?

0:59:25.976 --> 0:59:27.297
You are welcome to our posh people.

0:59:27.317 --> 0:59:28.277
They can just go to Australia.

0:59:28.297 --> 0:59:29.157
They can fuck off to

0:59:29.217 --> 0:59:30.358
Australia and never come back.

0:59:30.378 --> 0:59:32.338
That would be amazing.

0:59:32.958 --> 0:59:33.918
They still have to buy their

0:59:33.938 --> 0:59:35.079
hounds with British pounds.

0:59:35.420 --> 0:59:37.320
We don't have fucking...

0:59:38.420 --> 0:59:39.722
but anyway the point was

0:59:39.762 --> 0:59:41.081
they were like no we want

0:59:41.101 --> 0:59:42.623
to rip apart foxes with our

0:59:42.663 --> 0:59:43.963
dogs and so they just went

0:59:44.023 --> 0:59:45.603
and fucking did illegal

0:59:45.643 --> 0:59:47.543
hunts but still all fucking

0:59:47.583 --> 0:59:48.724
dressed up in like their

0:59:48.804 --> 0:59:49.764
finery and all that

0:59:49.804 --> 0:59:50.746
bullshit you're just like

0:59:51.606 --> 0:59:53.367
will you guys just get will

0:59:53.387 --> 0:59:54.547
you guys just get a fucking

0:59:54.586 --> 0:59:56.007
better hobby you absolute

0:59:56.128 --> 0:59:57.728
posh knobbers I'm sure

0:59:57.768 --> 0:59:59.128
they'd just be be just as

0:59:59.168 --> 1:00:00.268
happy dressing up in all

1:00:00.289 --> 1:00:01.309
their poshery and like

1:00:01.389 --> 1:00:02.610
drinking tea out in the forest

1:00:03.123 --> 1:00:04.983
just fucking just just have

1:00:05.043 --> 1:00:06.304
an orgy or something who

1:00:06.344 --> 1:00:07.545
gives a shit about horse

1:00:07.784 --> 1:00:09.146
fucking like well they do

1:00:09.186 --> 1:00:11.007
that too after the fox hunt

1:00:11.827 --> 1:00:13.208
oh yeah that's later that's

1:00:13.307 --> 1:00:14.507
later they hang the foxes

1:00:14.568 --> 1:00:17.188
what's wrong what's wrong

1:00:17.449 --> 1:00:19.190
with cricket right cricket

1:00:19.570 --> 1:00:21.550
also in the countryside in

1:00:21.590 --> 1:00:23.052
the sunshine you drink a

1:00:23.092 --> 1:00:24.972
bunch of beers you try not

1:00:24.992 --> 1:00:26.373
to get hit by the ball when

1:00:26.454 --> 1:00:27.153
you're at the point where

1:00:27.173 --> 1:00:28.414
you're too drunk and you

1:00:28.675 --> 1:00:29.675
you might just not be able

1:00:29.695 --> 1:00:30.436
to catch it it'll just

1:00:30.456 --> 1:00:31.115
whack you in the head

1:00:31.836 --> 1:00:33.398
And then ideally you want to

1:00:33.438 --> 1:00:34.440
avoid batting because it's

1:00:34.460 --> 1:00:35.280
kind of hassle.

1:00:36.663 --> 1:00:37.463
Great sport,

1:00:37.744 --> 1:00:39.246
great sport on a summer day in

1:00:39.266 --> 1:00:40.068
the countryside.

1:00:40.427 --> 1:00:41.449
What's with all this fucking

1:00:41.489 --> 1:00:43.393
horse bullshit and Fox

1:00:43.432 --> 1:00:46.336
bullshit and coats and tails bullshit.

1:00:46.376 --> 1:00:46.496
Just.

1:00:48.500 --> 1:00:49.541
have an orgy like a regular

1:00:49.621 --> 1:00:50.661
fucking bunch of people

1:00:50.702 --> 1:00:56.246
right like yeah um what are

1:00:56.505 --> 1:01:01.228
you gonna do right I have a

1:01:01.248 --> 1:01:02.090
friend that's probably from

1:01:02.130 --> 1:01:03.170
the countryside right and

1:01:03.231 --> 1:01:04.090
one of the first things I

1:01:04.150 --> 1:01:05.251
found out about him after I

1:01:05.271 --> 1:01:07.172
met him um first of all was

1:01:07.193 --> 1:01:08.494
that he thought scrumping

1:01:08.534 --> 1:01:09.934
was perfectly natural and

1:01:09.974 --> 1:01:11.096
normal thing that people

1:01:11.155 --> 1:01:12.277
just did and I was like

1:01:12.456 --> 1:01:13.538
okay I've only ever heard

1:01:13.577 --> 1:01:14.798
about that from children's books

1:01:16.159 --> 1:01:16.838
What is that?

1:01:17.500 --> 1:01:18.039
Scrumping.

1:01:18.059 --> 1:01:19.159
It's when you go to an

1:01:19.320 --> 1:01:20.360
orchard and you take the

1:01:20.440 --> 1:01:22.300
apples so that you can make cider.

1:01:24.262 --> 1:01:25.021
Hard cider.

1:01:25.222 --> 1:01:25.882
Sorry for the Americans.

1:01:25.902 --> 1:01:27.123
That's called scrumping.

1:01:27.503 --> 1:01:28.302
Scrumping, yes.

1:01:28.322 --> 1:01:29.402
I love how you throw that

1:01:29.422 --> 1:01:30.164
term out like we all know

1:01:30.184 --> 1:01:30.884
what the fuck that is.

1:01:33.284 --> 1:01:33.885
Very different from

1:01:33.925 --> 1:01:35.045
something like we're sailing,

1:01:35.184 --> 1:01:35.965
which is where you go and

1:01:36.184 --> 1:01:38.846
ask for apples or alcohol

1:01:39.206 --> 1:01:40.186
in order to then go and

1:01:40.306 --> 1:01:42.487
serenade the orchard so

1:01:42.527 --> 1:01:43.967
that the next harvest will be good.

1:01:44.788 --> 1:01:45.728
um you know all these

1:01:45.969 --> 1:01:47.188
standard normal things

1:01:47.829 --> 1:01:49.849
anyway so he so he just

1:01:49.909 --> 1:01:50.469
said something about

1:01:50.510 --> 1:01:51.530
scrumping and I've never

1:01:51.550 --> 1:01:52.771
heard about that outside of

1:01:52.791 --> 1:01:53.570
a children's book I don't

1:01:53.590 --> 1:01:54.331
think people actually did

1:01:54.351 --> 1:01:55.072
that he was like well how

1:01:55.112 --> 1:01:55.952
do you how do you get your

1:01:55.972 --> 1:01:57.572
free cider and I was like

1:01:59.869 --> 1:02:00.230
Okay.

1:02:01.150 --> 1:02:02.291
It turned out his dad had

1:02:02.351 --> 1:02:07.697
been mayor of the local village by losing,

1:02:07.717 --> 1:02:08.597
I think it was like losing,

1:02:09.217 --> 1:02:10.418
basically it's such a small

1:02:10.438 --> 1:02:11.579
hamlet that eventually

1:02:11.619 --> 1:02:13.360
everybody had to be mayor at some point.

1:02:13.882 --> 1:02:17.425
And the actual mayoring

1:02:17.824 --> 1:02:18.985
involved being dunked in

1:02:19.005 --> 1:02:19.907
the village pond.

1:02:21.889 --> 1:02:23.130
Is this a doubt?

1:02:23.630 --> 1:02:24.610
Yeah, is this a doubt?

1:02:24.911 --> 1:02:25.831
That's what he said I heard,

1:02:25.891 --> 1:02:26.733
is they put him under.

1:02:26.753 --> 1:02:26.833
Yeah.

1:02:32.487 --> 1:02:33.288
These are the kind of places

1:02:33.307 --> 1:02:36.110
where I'm just like, I am a city slicker.

1:02:36.150 --> 1:02:38.293
This does not compute.

1:02:38.653 --> 1:02:39.894
I don't know what you're talking about,

1:02:39.934 --> 1:02:40.375
I'm afraid.

1:02:40.394 --> 1:02:41.956
What was the other term?

1:02:41.976 --> 1:02:42.336
Scrumping?

1:02:42.356 --> 1:02:43.237
And what was the other term you used?

1:02:43.257 --> 1:02:43.679
Scrumping.

1:02:43.699 --> 1:02:43.739
No,

1:02:44.159 --> 1:02:45.280
what was the other one you said after

1:02:45.320 --> 1:02:45.460
that?

1:02:46.541 --> 1:02:47.222
Oh, we're sailing.

1:02:48.824 --> 1:02:49.525
What was that one?

1:02:49.885 --> 1:02:50.465
We're sailing,

1:02:50.606 --> 1:02:52.067
which is when you go sing to the orchard.

1:02:53.282 --> 1:02:54.543
sing to the orchard or sing

1:02:54.664 --> 1:02:55.244
in the orchard?

1:02:56.184 --> 1:02:58.086
You sing to the orchard, but you can also,

1:02:58.226 --> 1:03:00.487
so sometimes when people

1:03:00.507 --> 1:03:01.048
say we're sailing,

1:03:01.088 --> 1:03:02.070
they mean going and singing

1:03:02.110 --> 1:03:02.630
to the orchard.

1:03:02.690 --> 1:03:04.231
And sometimes they mean

1:03:04.570 --> 1:03:07.434
around the same time you

1:03:07.474 --> 1:03:10.735
would go and bring a hearty tune to,

1:03:10.956 --> 1:03:11.876
to other people.

1:03:12.237 --> 1:03:13.197
And then they would give you

1:03:13.398 --> 1:03:14.719
like a seasonal greeting,

1:03:15.059 --> 1:03:16.280
probably hot cider or

1:03:16.320 --> 1:03:17.561
something like that in

1:03:17.621 --> 1:03:18.661
exchange for the song.

1:03:20.322 --> 1:03:22.182
what is this on a specific

1:03:22.222 --> 1:03:23.184
day or just like any day

1:03:23.224 --> 1:03:24.844
like hey it's june 24th you

1:03:24.885 --> 1:03:25.905
go do this like it's like I

1:03:26.085 --> 1:03:26.666
think it's kind of like

1:03:26.686 --> 1:03:27.706
harvest sort of time yeah

1:03:27.987 --> 1:03:30.349
okay all right so um so

1:03:30.369 --> 1:03:31.750
bear in mind to do over

1:03:31.769 --> 1:03:33.550
there after the black death

1:03:33.831 --> 1:03:34.891
there was a period where

1:03:34.952 --> 1:03:35.873
like the country was very

1:03:35.913 --> 1:03:37.974
very depopulated and so in

1:03:38.034 --> 1:03:39.215
response to this there were

1:03:39.235 --> 1:03:40.996
a lot of um like minor

1:03:41.036 --> 1:03:42.478
holidays high holidays a

1:03:42.538 --> 1:03:44.079
lot of folk traditions that kind of

1:03:44.918 --> 1:03:46.119
either kind of re-emerge

1:03:46.139 --> 1:03:47.440
during that period or or

1:03:47.481 --> 1:03:48.641
whatever I guess people

1:03:48.702 --> 1:03:49.722
needed to like kind of have

1:03:49.782 --> 1:03:51.643
a lot of parties and drink

1:03:51.664 --> 1:03:52.664
a lot of cider to start

1:03:52.704 --> 1:03:53.764
repopulating the country

1:03:53.824 --> 1:03:54.666
right so they need we're

1:03:54.686 --> 1:03:57.947
alive we're alive that's

1:03:57.967 --> 1:04:02.791
that's a famous let's go

1:04:03.192 --> 1:04:04.092
sing to the trees and

1:04:04.192 --> 1:04:05.773
fucking drink or whatever I

1:04:05.992 --> 1:04:07.835
mean well I mean that's uh

1:04:08.155 --> 1:04:09.235
you know all that singing

1:04:09.255 --> 1:04:10.536
to the tree stuff is all um

1:04:11.434 --> 1:04:12.554
It's all the pre-Christian

1:04:13.755 --> 1:04:15.135
funky business of the British Isles,

1:04:15.215 --> 1:04:15.594
isn't it?

1:04:15.614 --> 1:04:17.956
So King Arthur and, ah, God,

1:04:17.976 --> 1:04:18.976
what's the fox called?

1:04:19.335 --> 1:04:22.496
You know, from the Disney, you know,

1:04:23.077 --> 1:04:23.637
Robin Hood.

1:04:23.737 --> 1:04:24.277
The Robin Hood.

1:04:24.318 --> 1:04:25.677
He's a fox in the Disney Robin Hood,

1:04:25.737 --> 1:04:26.418
isn't he?

1:04:26.518 --> 1:04:26.797
Ralph?

1:04:28.719 --> 1:04:28.978
Ralph?

1:04:29.099 --> 1:04:29.978
No, that's not Ralph.

1:04:30.599 --> 1:04:31.199
What's the fox called?

1:04:31.599 --> 1:04:32.280
You know, Robin Hood.

1:04:32.300 --> 1:04:33.400
I do.

1:04:33.460 --> 1:04:35.900
I assume his name would be Robin.

1:04:37.079 --> 1:04:37.900
Yeah, but he's a fox.

1:04:38.041 --> 1:04:39.302
Well, yeah, it's not Ralph.

1:04:39.362 --> 1:04:42.608
It's clearly Robin Hood,

1:04:42.648 --> 1:04:45.331
but he's the green man, isn't he?

1:04:46.614 --> 1:04:47.496
That's what Robin Hood is.

1:04:50.119 --> 1:04:50.460
Goodness.

1:04:50.601 --> 1:04:51.722
I learned so much in this episode.

1:04:53.134 --> 1:04:54.594
yeah just all sorts of

1:04:54.635 --> 1:04:56.737
random facts so like one of

1:04:56.757 --> 1:04:57.538
the best facts about robin

1:04:57.557 --> 1:04:58.338
hood right robin hood's a

1:04:58.378 --> 1:04:58.918
really interesting

1:04:58.938 --> 1:04:59.880
character because there's

1:05:00.000 --> 1:05:00.760
there's loads and loads of

1:05:00.780 --> 1:05:02.722
different bits the folklore

1:05:02.762 --> 1:05:03.563
that kind of get jammed

1:05:03.603 --> 1:05:05.184
into this one character

1:05:05.244 --> 1:05:05.945
over time like there was

1:05:05.985 --> 1:05:07.806
this uh anglo things

1:05:07.885 --> 1:05:08.967
anglo-saxon that like I

1:05:09.007 --> 1:05:10.148
think was the vikings tried

1:05:10.168 --> 1:05:11.148
to get rid of out of the

1:05:11.248 --> 1:05:12.769
norfolk broads or maybe the

1:05:12.829 --> 1:05:14.572
plantagenets and he

1:05:14.592 --> 1:05:15.371
basically just lived in a

1:05:15.411 --> 1:05:17.293
swamp and um every time

1:05:17.313 --> 1:05:18.375
they tried to like you know

1:05:19.175 --> 1:05:20.797
throw him out he'd just be

1:05:20.856 --> 1:05:23.378
like nah fuck off and so um

1:05:25.099 --> 1:05:25.699
he just they would just

1:05:25.719 --> 1:05:26.800
disappear into the into the

1:05:26.840 --> 1:05:28.262
swamp with his little band

1:05:28.322 --> 1:05:29.603
of um bandits and they were

1:05:29.643 --> 1:05:31.664
like he just keeps defying

1:05:31.684 --> 1:05:32.565
the king and calling him a

1:05:32.605 --> 1:05:33.925
dickhead I'm paraphrasing

1:05:34.547 --> 1:05:35.907
um but that's like I think

1:05:35.927 --> 1:05:36.867
that's one of the origin

1:05:36.927 --> 1:05:38.248
myths for for robin hood

1:05:38.268 --> 1:05:39.670
was basically the swamp guy

1:05:39.690 --> 1:05:41.072
that was just larry as fuck

1:05:42.331 --> 1:05:43.472
Oh, merry man.

1:05:43.492 --> 1:05:48.197
He's just like, we'll see you later.

1:05:49.378 --> 1:05:49.918
And then of course,

1:05:49.958 --> 1:05:51.400
all the stuff about the, you know,

1:05:51.440 --> 1:05:51.880
the Britain,

1:05:52.039 --> 1:05:53.501
the Britain's fleeing to sort

1:05:53.521 --> 1:05:54.501
of Wales where it's sort of

1:05:54.541 --> 1:05:55.682
green and whatnot.

1:05:55.762 --> 1:05:56.923
I think they took a lot of that with them.

1:05:56.963 --> 1:05:57.824
And then there's all the way,

1:05:57.844 --> 1:05:59.005
like it all crosses over

1:05:59.025 --> 1:06:00.047
with the Druids and the

1:06:00.106 --> 1:06:00.867
Romans and all that.

1:06:01.467 --> 1:06:01.748
I don't know.

1:06:01.768 --> 1:06:02.708
You'd have to get some like

1:06:02.748 --> 1:06:04.250
historian of folklore to,

1:06:04.289 --> 1:06:06.731
to really fully tie it all together,

1:06:06.831 --> 1:06:08.172
but it's all super interesting.

1:06:08.193 --> 1:06:08.813
Yeah.

1:06:09.653 --> 1:06:10.355
The most interesting thing

1:06:10.375 --> 1:06:11.175
about Robin Hood, of course,

1:06:11.215 --> 1:06:13.597
is that he was like a commoner.

1:06:13.657 --> 1:06:14.358
That was the whole point.

1:06:14.378 --> 1:06:15.438
He was a commoner in touch

1:06:15.478 --> 1:06:17.561
with the land via the forest.

1:06:17.641 --> 1:06:19.302
And there's an avatar of a green man.

1:06:20.463 --> 1:06:21.405
And the green man is like

1:06:21.425 --> 1:06:22.204
this really powerful

1:06:22.306 --> 1:06:24.246
folkloric entity in kind of

1:06:25.728 --> 1:06:27.329
pre-Christian sort of

1:06:27.550 --> 1:06:28.570
folkloric traditions.

1:06:28.630 --> 1:06:29.931
And also Celtic Christianity

1:06:29.972 --> 1:06:31.514
to some extent, I believe.

1:06:31.534 --> 1:06:33.635
Sang to the trees type of dude, right?

1:06:33.675 --> 1:06:33.775
Yeah.

1:06:34.096 --> 1:06:36.097
Yeah, just kind of your classic, you know,

1:06:36.117 --> 1:06:38.139
you go into the woods and you're the king,

1:06:38.179 --> 1:06:39.039
but you've been bad,

1:06:39.099 --> 1:06:40.460
a bad guy to the people and

1:06:40.501 --> 1:06:41.342
maybe the trees,

1:06:41.461 --> 1:06:42.443
and then maybe the trees

1:06:42.543 --> 1:06:43.844
just don't let you leave the woods.

1:06:43.884 --> 1:06:44.864
You have an orgy,

1:06:44.884 --> 1:06:46.385
you save the foxes and you

1:06:46.405 --> 1:06:46.885
save the trees.

1:06:46.925 --> 1:06:47.606
Yeah, exactly.

1:06:48.126 --> 1:06:49.088
It's your classic.

1:06:49.288 --> 1:06:51.730
You know the story.

1:06:52.690 --> 1:06:55.693
But the myth was so powerful

1:06:55.893 --> 1:06:58.054
that it gradually changed

1:06:58.135 --> 1:06:58.974
over time where the upper

1:06:58.994 --> 1:07:00.516
classes appropriated it and

1:07:00.657 --> 1:07:01.818
made Robin Hood

1:07:02.657 --> 1:07:04.039
a minor noble in the

1:07:04.079 --> 1:07:05.081
retellings of the story.

1:07:05.101 --> 1:07:06.762
So he becomes Robert of Locksley,

1:07:07.603 --> 1:07:09.065
where he's this minor noble

1:07:09.125 --> 1:07:10.706
who's disenfranchised upon

1:07:10.746 --> 1:07:12.188
his return from the Crusades.

1:07:14.170 --> 1:07:15.210
And it's a really

1:07:15.231 --> 1:07:17.554
interesting story of how a

1:07:17.614 --> 1:07:18.994
folk tale had such power

1:07:19.034 --> 1:07:20.235
that the upper classes were like,

1:07:20.257 --> 1:07:21.378
we can't have this.

1:07:21.978 --> 1:07:22.818
like we're gonna have to

1:07:22.838 --> 1:07:23.818
just make him one of he

1:07:23.838 --> 1:07:25.039
will have to make him a

1:07:25.119 --> 1:07:26.501
minor aristocrat to like

1:07:26.521 --> 1:07:27.641
take the sting out of this

1:07:27.721 --> 1:07:28.541
because people are just a

1:07:28.581 --> 1:07:29.561
bit too excited about

1:07:30.143 --> 1:07:31.583
flipping off um the power

1:07:31.623 --> 1:07:32.563
of the king or whatever so

1:07:33.483 --> 1:07:35.405
yeah I mean any story to

1:07:35.425 --> 1:07:36.646
tell somebody to fuck off

1:07:36.706 --> 1:07:38.487
is a good story with me hey

1:07:38.586 --> 1:07:40.047
I mean what is slapshot

1:07:40.108 --> 1:07:42.208
about it's other than folk

1:07:42.248 --> 1:07:43.289
heroes telling people to

1:07:43.329 --> 1:07:46.690
fuck off it's true it's a

1:07:46.710 --> 1:07:48.391
great story it's true it's

1:07:48.431 --> 1:07:49.413
a good fucking story

1:07:50.934 --> 1:07:51.434
You know what?

1:07:51.474 --> 1:07:52.275
That's kind of what Butch

1:07:52.295 --> 1:07:53.556
Cassidy is about as well.

1:07:54.297 --> 1:07:55.498
All stories are about

1:07:55.818 --> 1:07:56.860
somebody telling somebody to fuck off.

1:07:56.880 --> 1:07:57.460
What are you talking about?

1:07:57.521 --> 1:07:58.101
Like every movie.

1:07:59.802 --> 1:08:00.523
Somebody's getting the bird.

1:08:00.543 --> 1:08:04.206
All right.

1:08:04.367 --> 1:08:06.188
Should we do a couple news pieces?

1:08:09.112 --> 1:08:09.592
Number one.

1:08:09.972 --> 1:08:11.173
Well, actually, we did do one.

1:08:11.693 --> 1:08:12.275
Before you got here,

1:08:12.295 --> 1:08:13.295
we talked about Stride on

1:08:13.315 --> 1:08:14.496
DYDX and all that kind of stuff.

1:08:16.072 --> 1:08:16.612
That kind of shit.

1:08:16.712 --> 1:08:18.393
Let's, do you want to talk about, let's,

1:08:18.552 --> 1:08:20.234
so, so we,

1:08:20.354 --> 1:08:21.895
we did talk about last week

1:08:21.935 --> 1:08:23.076
about Reese officially

1:08:23.176 --> 1:08:24.136
retiring from Juno.

1:08:24.796 --> 1:08:25.778
And there's,

1:08:26.278 --> 1:08:29.319
so there's a Reese Williams who's,

1:08:30.478 --> 1:08:31.439
I guess dev lead, right?

1:08:31.479 --> 1:08:32.538
Was the development lead?

1:08:32.559 --> 1:08:33.079
Is that the right?

1:08:33.340 --> 1:08:34.940
I don't know.

1:08:35.001 --> 1:08:36.002
I'm sorry if I'm not hearing your title.

1:08:36.021 --> 1:08:37.643
I'm not sure what you said.

1:08:37.662 --> 1:08:38.302
You said you resigned from

1:08:38.342 --> 1:08:40.765
Juno on January 9th in private,

1:08:40.784 --> 1:08:42.525
so PR pull request and

1:08:42.565 --> 1:08:43.646
finalization plans can be made.

1:08:44.488 --> 1:08:46.269
V19, which I think just happened, right?

1:08:46.309 --> 1:08:47.069
Was this last week?

1:08:47.949 --> 1:08:48.810
Just on testnet.

1:08:49.011 --> 1:08:50.631
I think the prop has just

1:08:50.652 --> 1:08:51.613
gone up for May 9th.

1:08:51.653 --> 1:08:52.113
Oh, you're right.

1:08:52.132 --> 1:08:52.493
You're right.

1:08:52.533 --> 1:08:53.713
It's going up on... You're right.

1:08:53.734 --> 1:08:54.515
It's up on my board here.

1:08:54.675 --> 1:08:55.655
On February 5th,

1:08:55.775 --> 1:08:56.376
that will be the last one.

1:08:56.395 --> 1:08:58.256
You said V19 will be able to upgrade.

1:08:58.296 --> 1:08:58.476
And then...

1:08:59.398 --> 1:09:00.399
I think that was in response

1:09:00.458 --> 1:09:02.100
to a friend of the show, Highlander,

1:09:02.119 --> 1:09:03.041
who's been on the show before.

1:09:03.461 --> 1:09:04.082
There's a great tweet,

1:09:04.122 --> 1:09:05.203
which I'll link in this.

1:09:05.363 --> 1:09:06.844
It says, thank you for all your hard work.

1:09:07.043 --> 1:09:08.345
I think the idea was that

1:09:09.046 --> 1:09:11.167
there was some structure

1:09:11.188 --> 1:09:12.929
within Juno community

1:09:12.988 --> 1:09:15.211
paying amount to Reese,

1:09:15.230 --> 1:09:16.752
but I think maybe Reese is

1:09:16.771 --> 1:09:17.512
going to work for Strange

1:09:18.052 --> 1:09:18.833
Love or something similar.

1:09:19.073 --> 1:09:21.095
So he's been working for Strange Love,

1:09:21.456 --> 1:09:22.497
yeah, for a period of time.

1:09:23.582 --> 1:09:23.841
Oh, okay.

1:09:23.862 --> 1:09:24.462
So it's been a while.

1:09:25.082 --> 1:09:25.543
Yeah.

1:09:25.604 --> 1:09:26.043
I didn't know that.

1:09:26.203 --> 1:09:29.145
So thank you for all your

1:09:29.185 --> 1:09:30.646
hard work on Juno Reese.

1:09:30.667 --> 1:09:31.448
It's been a pleasure,

1:09:31.507 --> 1:09:32.108
but I certainly don't want

1:09:32.127 --> 1:09:33.029
the Juno network community

1:09:33.048 --> 1:09:34.109
paying you 20 K a month to

1:09:34.130 --> 1:09:34.989
go work for strange lab.

1:09:35.331 --> 1:09:36.652
You're in or you're out lad

1:09:37.051 --> 1:09:38.052
one or the other.

1:09:40.077 --> 1:09:40.997
I thought that was a really good tweet.

1:09:41.018 --> 1:09:43.279
Literally one second later, he's like,

1:09:43.319 --> 1:09:44.301
yeah, I quit last week.

1:09:44.320 --> 1:09:45.582
Yeah, I quit on January 9th.

1:09:45.822 --> 1:09:47.042
So that was on January 9th,

1:09:47.122 --> 1:09:48.203
and then Highlander posted

1:09:48.224 --> 1:09:49.045
that on January 21st,

1:09:49.085 --> 1:09:49.786
but we'll put a link.

1:09:49.865 --> 1:09:50.706
I thought that was pretty funny.

1:09:51.087 --> 1:09:52.307
We did talk about what's

1:09:52.328 --> 1:09:54.750
going to happen next within

1:09:54.770 --> 1:09:56.110
Juno and who's taking that over.

1:09:56.190 --> 1:09:57.072
Is there anybody who's been

1:09:57.112 --> 1:09:58.233
identified for that, or we don't know?

1:10:00.314 --> 1:10:00.675
I don't know.

1:10:00.734 --> 1:10:01.876
Is there a posting or anything?

1:10:01.916 --> 1:10:02.577
Everybody's out.

1:10:04.478 --> 1:10:07.422
I have literally no idea.

1:10:07.963 --> 1:10:12.792
When Charter happened, I... Yeah.

1:10:13.051 --> 1:10:14.094
When the cores dissipated.

1:10:14.113 --> 1:10:15.275
That was the end of it, right?

1:10:15.652 --> 1:10:17.393
yeah so well I so I never

1:10:17.453 --> 1:10:19.212
took um any kind of vesting

1:10:19.252 --> 1:10:20.673
to be part of core one like

1:10:20.734 --> 1:10:24.295
I just took it as a to help

1:10:24.416 --> 1:10:25.456
the transition to the

1:10:25.475 --> 1:10:26.855
charter and to make sure

1:10:26.936 --> 1:10:28.396
that re in particular

1:10:28.436 --> 1:10:29.398
really that reset some

1:10:29.417 --> 1:10:30.618
stability and to try and

1:10:30.637 --> 1:10:31.939
maybe hire one or two more

1:10:31.958 --> 1:10:34.920
devs so we you know we kind

1:10:34.979 --> 1:10:36.760
of got um joel on during

1:10:36.779 --> 1:10:38.581
that period as well which

1:10:38.621 --> 1:10:39.721
was pretty good um and he

1:10:39.761 --> 1:10:42.103
did a good job um but I you

1:10:42.122 --> 1:10:42.943
know I just think that

1:10:46.029 --> 1:10:47.470
like managing a dev team

1:10:47.770 --> 1:10:48.951
even asynchronously even

1:10:48.990 --> 1:10:50.032
with a small amount of time

1:10:50.072 --> 1:10:52.353
commitment is not nothing

1:10:52.613 --> 1:10:54.333
and uh so it's just one of

1:10:54.354 --> 1:10:54.993
those things that my

1:10:55.033 --> 1:10:56.395
commitment to it wasn't

1:10:56.515 --> 1:10:57.715
like I could only I could

1:10:57.774 --> 1:10:58.956
only do a very small amount

1:10:59.836 --> 1:11:01.117
um it wasn't being paid for

1:11:01.197 --> 1:11:02.277
it you know I hadn't been

1:11:02.296 --> 1:11:03.757
paid for that stuff in a

1:11:03.778 --> 1:11:05.439
very long time um

1:11:06.757 --> 1:11:08.797
And so I think the reality

1:11:08.818 --> 1:11:11.219
there was it was sort of part direct.

1:11:11.658 --> 1:11:13.338
It was very self-directed on Reese's part.

1:11:13.479 --> 1:11:14.500
And then any additional

1:11:14.539 --> 1:11:16.039
stuff was kind of managed

1:11:16.119 --> 1:11:17.340
by his inclusion within the

1:11:17.359 --> 1:11:18.500
Strangelove team from a

1:11:18.539 --> 1:11:20.381
kind of pastoral perspective, I suppose.

1:11:20.400 --> 1:11:23.081
And I know Jake also talked

1:11:23.100 --> 1:11:24.242
to him pretty regularly.

1:11:24.341 --> 1:11:26.141
So there was a bit of this

1:11:26.162 --> 1:11:26.761
and that and the other.

1:11:26.822 --> 1:11:27.301
But, you know,

1:11:27.381 --> 1:11:28.703
my my kind of main concerns

1:11:28.722 --> 1:11:30.002
were just trying to keep it.

1:11:30.942 --> 1:11:31.802
a little bit stable.

1:11:32.002 --> 1:11:33.904
And to be fucking honest,

1:11:33.944 --> 1:11:35.065
making sure we didn't pay

1:11:35.246 --> 1:11:36.728
notional a million dollars

1:11:36.927 --> 1:11:39.291
for notional stuff, um,

1:11:39.930 --> 1:11:41.032
was like one of my biggest

1:11:41.072 --> 1:11:43.134
reasons why I joined a core

1:11:43.234 --> 1:11:44.456
one when offered and, uh,

1:11:45.076 --> 1:11:46.457
just fucking died on that Hill,

1:11:46.637 --> 1:11:47.158
to be honest.

1:11:47.179 --> 1:11:47.578
Um,

1:11:48.262 --> 1:11:49.804
um just to keep that shit in

1:11:49.823 --> 1:11:51.185
check right just to make

1:11:51.206 --> 1:11:51.945
sure they didn't they

1:11:51.985 --> 1:11:53.046
didn't get that money

1:11:53.887 --> 1:11:55.829
because they didn't right a

1:11:55.850 --> 1:11:56.609
million dollars for what

1:11:56.710 --> 1:11:58.070
and and yeah imagine my

1:11:58.110 --> 1:11:59.072
surprise it's all collapsed

1:11:59.091 --> 1:11:59.853
since then because of

1:11:59.872 --> 1:12:01.954
course it was going to um

1:12:02.895 --> 1:12:04.115
so we didn't pay notional

1:12:04.136 --> 1:12:05.337
of a million dollars which

1:12:05.497 --> 1:12:06.177
we shouldn't have done in

1:12:06.217 --> 1:12:06.779
the we shouldn't have

1:12:06.798 --> 1:12:07.359
agreed to in the first

1:12:07.399 --> 1:12:08.060
place and we didn't pay

1:12:08.079 --> 1:12:09.421
them the money so that's if

1:12:09.480 --> 1:12:11.662
I did one thing mission accomplished

1:12:12.815 --> 1:12:14.617
yeah exactly um and then you

1:12:14.657 --> 1:12:15.957
know the charter folks you

1:12:15.997 --> 1:12:17.938
know sort of um I you know

1:12:18.118 --> 1:12:19.179
I did some stuff with them

1:12:19.219 --> 1:12:20.479
as part of the early period

1:12:20.500 --> 1:12:25.322
of the charter but um I

1:12:26.122 --> 1:12:27.203
there's not really a not

1:12:27.283 --> 1:12:29.944
crass way of saying that I

1:12:32.204 --> 1:12:34.426
what I want to do work-wise

1:12:34.466 --> 1:12:35.546
does not correspond with

1:12:35.606 --> 1:12:37.608
what they want to do number

1:12:37.688 --> 1:12:38.787
one and number two I don't

1:12:38.807 --> 1:12:40.408
really think juno can afford me um

1:12:42.219 --> 1:12:42.599
Fair.

1:12:43.099 --> 1:12:45.239
Because I have to charge them this.

1:12:45.560 --> 1:12:47.881
If I was going to go back and work for now,

1:12:48.240 --> 1:12:49.201
rather than saying, you know,

1:12:49.220 --> 1:12:50.921
I've given free time for a long period.

1:12:52.021 --> 1:12:52.622
If I was going to go back

1:12:52.662 --> 1:12:53.242
and work for it now,

1:12:53.462 --> 1:12:54.603
if I put out my rate card

1:12:54.682 --> 1:12:56.863
for what I do for corporate clients,

1:12:58.743 --> 1:12:59.484
I don't think it's good.

1:12:59.503 --> 1:13:01.323
It's not so much they couldn't afford it.

1:13:01.344 --> 1:13:02.305
I don't think it's good

1:13:02.324 --> 1:13:03.784
value to the Juno community.

1:13:04.244 --> 1:13:04.425
Right.

1:13:06.065 --> 1:13:06.305
So...

1:13:08.027 --> 1:13:08.426
So that's it.

1:13:08.466 --> 1:13:10.328
So, so I, I, so I say, you know, I,

1:13:10.408 --> 1:13:12.289
I didn't continue with that either,

1:13:12.329 --> 1:13:13.511
so I don't really know what's going on.

1:13:14.150 --> 1:13:15.712
But honestly, that, that, I mean,

1:13:15.891 --> 1:13:16.712
we've talked about Juno a lot,

1:13:16.752 --> 1:13:17.672
but I don't think that

1:13:18.054 --> 1:13:19.454
issue is a technical,

1:13:20.015 --> 1:13:21.095
that chain is not in need

1:13:21.115 --> 1:13:22.076
of technical assistance.

1:13:22.176 --> 1:13:23.056
It's in need of direction.

1:13:23.701 --> 1:13:24.761
And it's a need of

1:13:24.801 --> 1:13:25.462
leadership in my

1:13:25.523 --> 1:13:26.783
perspective in terms of

1:13:27.423 --> 1:13:28.425
where it fits in the market,

1:13:28.585 --> 1:13:30.386
what the plan is to work out of this,

1:13:30.487 --> 1:13:31.306
and what value it's going

1:13:31.327 --> 1:13:32.068
to bring long-term,

1:13:32.448 --> 1:13:33.288
and what types of project

1:13:33.368 --> 1:13:36.712
is it going to acquire and try to court.

1:13:37.631 --> 1:13:40.234
And whether that's community-led,

1:13:40.595 --> 1:13:41.314
which is never going to

1:13:41.335 --> 1:13:41.956
happen because there's no

1:13:41.996 --> 1:13:42.756
agreement around that,

1:13:43.396 --> 1:13:43.997
or if there's somebody

1:13:44.018 --> 1:13:44.978
going to step in that aspect,

1:13:45.158 --> 1:13:46.699
just continually upgrading

1:13:46.739 --> 1:13:47.319
and building new

1:13:47.340 --> 1:13:48.560
capabilities is not going

1:13:48.581 --> 1:13:49.582
to create that opportunity.

1:13:49.844 --> 1:13:50.003
Right?

1:13:50.123 --> 1:13:51.045
It's like there's plenty of

1:13:51.064 --> 1:13:51.845
vehicles for these

1:13:51.904 --> 1:13:53.466
situations out here in

1:13:53.485 --> 1:13:54.826
terms of what projects need.

1:13:55.386 --> 1:13:56.907
It's more of a business and

1:13:56.947 --> 1:13:58.047
financial need than it is a

1:13:58.307 --> 1:13:58.927
technology need.

1:14:01.328 --> 1:14:01.850
My two cents.

1:14:02.569 --> 1:14:02.909
Yeah.

1:14:03.369 --> 1:14:03.730
I mean,

1:14:03.751 --> 1:14:08.672
I think they had the time to strike

1:14:08.712 --> 1:14:09.552
while the iron is hot.

1:14:09.814 --> 1:14:10.993
I think the iron is now cold.

1:14:11.954 --> 1:14:13.774
Yeah.

1:14:14.155 --> 1:14:15.416
Yeah.

1:14:15.576 --> 1:14:17.096
That's part of the challenge of Web 3 is,

1:14:17.157 --> 1:14:18.438
well, maybe it's not different than Web 2,

1:14:18.438 --> 1:14:18.738
but like

1:14:19.448 --> 1:14:21.128
you get a lot of visibility

1:14:21.208 --> 1:14:23.310
for a very small attention span.

1:14:23.430 --> 1:14:24.591
And then once that is gone,

1:14:24.650 --> 1:14:26.292
it's really tough to bring that back.

1:14:26.632 --> 1:14:26.912
I think,

1:14:27.313 --> 1:14:28.774
especially when you have a price

1:14:28.814 --> 1:14:31.756
drop from 40 bucks to 35 cents,

1:14:31.815 --> 1:14:33.176
like it's really hard to like,

1:14:33.216 --> 1:14:34.618
say there's so many other

1:14:34.658 --> 1:14:36.019
opportunities like for,

1:14:36.979 --> 1:14:38.579
for execution level and for

1:14:38.640 --> 1:14:40.081
chains and for, you know,

1:14:40.121 --> 1:14:41.162
now you have roll apps and

1:14:41.181 --> 1:14:42.222
all this other types of stuff coming in.

1:14:42.243 --> 1:14:44.363
Like, like where are we going with this?

1:14:44.423 --> 1:14:45.425
Or is it just miss its window?

1:14:46.725 --> 1:14:47.305
But anyway,

1:14:47.609 --> 1:14:48.769
yeah well I mean that's just

1:14:48.788 --> 1:14:50.449
it I mean I i kind of spent

1:14:50.470 --> 1:14:51.449
a lot of time in startups

1:14:51.470 --> 1:14:52.610
right and I know you have

1:14:52.650 --> 1:14:55.192
as well and other folks you

1:14:55.212 --> 1:14:56.091
know in and around this

1:14:56.131 --> 1:14:58.332
podcast have too um you

1:14:58.792 --> 1:15:00.194
know some of the best

1:15:00.314 --> 1:15:01.514
founding teams that I've

1:15:01.613 --> 1:15:05.435
worked for um I mean to be

1:15:05.456 --> 1:15:06.055
fair almost all the

1:15:06.076 --> 1:15:07.015
startups I've worked for

1:15:07.115 --> 1:15:08.377
have actually in the end

1:15:08.476 --> 1:15:09.877
made an exit of some kind

1:15:09.997 --> 1:15:11.597
but not all exits are

1:15:12.765 --> 1:15:13.966
um not all exits are made

1:15:14.046 --> 1:15:16.766
equal yeah um and and I

1:15:16.787 --> 1:15:17.707
would say the the most

1:15:17.747 --> 1:15:19.587
successful as far as I can

1:15:19.627 --> 1:15:21.009
tell from the outside like

1:15:21.048 --> 1:15:24.170
some of the the maybe most

1:15:27.631 --> 1:15:28.953
good like in terms of every

1:15:29.212 --> 1:15:30.132
every person was like a

1:15:30.172 --> 1:15:32.493
very s-tier person and they

1:15:32.533 --> 1:15:33.854
kind of will point in the same direction

1:15:34.676 --> 1:15:35.576
they're still beholden to

1:15:35.615 --> 1:15:37.737
market conditions even in web two, right?

1:15:38.337 --> 1:15:38.516
Yeah.

1:15:38.957 --> 1:15:39.216
You know,

1:15:39.636 --> 1:15:41.658
I worked for a very good startup

1:15:41.698 --> 1:15:42.837
in the hospitality sector,

1:15:42.858 --> 1:15:44.097
like immediately before COVID.

1:15:45.519 --> 1:15:46.418
And that sector, you know,

1:15:46.899 --> 1:15:48.059
just died on its ass overnight.

1:15:48.099 --> 1:15:49.880
Like it was there one day

1:15:49.920 --> 1:15:51.279
and it wasn't there the next, you know?

1:15:51.380 --> 1:15:52.239
So it doesn't matter how

1:15:52.279 --> 1:15:53.860
good your execution roadmap

1:15:54.820 --> 1:15:56.161
leadership behaviors are in

1:15:56.201 --> 1:15:56.942
that situation.

1:15:56.981 --> 1:15:58.202
You have, that's it.

1:15:58.322 --> 1:15:58.542
You know,

1:15:58.582 --> 1:16:00.341
you're basically shuttering the

1:16:00.362 --> 1:16:02.182
staff and going into survival mode and

1:16:04.724 --> 1:16:05.645
But I guess, you know,

1:16:07.065 --> 1:16:08.506
there is kind of a minimum bar,

1:16:08.567 --> 1:16:10.688
isn't there, of a functioning team,

1:16:11.429 --> 1:16:12.189
like a functioning

1:16:12.288 --> 1:16:13.869
functional team with a plan.

1:16:14.591 --> 1:16:16.391
Well, and one thing that's different,

1:16:16.412 --> 1:16:16.631
I think,

1:16:16.652 --> 1:16:18.934
in Web3 than in traditional is

1:16:19.413 --> 1:16:20.295
it's very difficult for

1:16:20.375 --> 1:16:22.615
founders or those types of

1:16:22.716 --> 1:16:23.936
individuals to exit with

1:16:24.077 --> 1:16:26.658
equity before their success.

1:16:27.765 --> 1:16:28.666
So usually those are,

1:16:28.845 --> 1:16:29.747
those individuals are the

1:16:29.886 --> 1:16:30.807
last to get paid.

1:16:31.328 --> 1:16:32.029
Meaning you might have,

1:16:32.189 --> 1:16:33.109
you might have investors or

1:16:33.130 --> 1:16:34.511
you might have employees

1:16:34.530 --> 1:16:36.292
that might have action, have options,

1:16:36.313 --> 1:16:36.912
or you might have other

1:16:36.953 --> 1:16:39.354
situations where if there's no exit,

1:16:39.615 --> 1:16:41.197
there's nothing that comes about that.

1:16:41.818 --> 1:16:42.698
Typically in web three,

1:16:44.091 --> 1:16:47.471
You have founders dumping or

1:16:47.511 --> 1:16:48.653
you have founders creating

1:16:48.733 --> 1:16:51.474
equity during the rise of the valuation,

1:16:52.373 --> 1:16:53.814
which is typically not the case.

1:16:53.833 --> 1:16:56.734
They need an exit to get paid, not just,

1:16:56.854 --> 1:16:57.074
hey,

1:16:57.636 --> 1:17:00.136
as we... And there might not be a

1:17:00.155 --> 1:17:01.037
second payday either.

1:17:01.096 --> 1:17:01.256
Yeah.

1:17:02.117 --> 1:17:02.957
And there might not be,

1:17:03.016 --> 1:17:04.677
because in a regular situation,

1:17:04.698 --> 1:17:05.877
you might have a huge valuation,

1:17:05.917 --> 1:17:07.118
but then it goes to shit

1:17:07.158 --> 1:17:08.198
and you're left with nothing,

1:17:08.698 --> 1:17:09.719
even though you're paying employees.

1:17:09.759 --> 1:17:11.439
I mean, you even see that with dApps,

1:17:11.578 --> 1:17:12.819
which is what we saw with

1:17:12.859 --> 1:17:14.000
launching a dApp on Juno.

1:17:14.020 --> 1:17:15.000
We were one of the first to

1:17:15.039 --> 1:17:16.100
get to market on Juno,

1:17:16.140 --> 1:17:16.860
which is good for us.

1:17:16.900 --> 1:17:17.720
We did make some money,

1:17:17.921 --> 1:17:19.360
but then there was no more money.

1:17:19.381 --> 1:17:20.622
Right, yeah.

1:17:21.181 --> 1:17:24.481
And we burnt through a big

1:17:24.542 --> 1:17:27.802
portion of that doing the HAL stuff,

1:17:28.103 --> 1:17:29.503
which then never made any money.

1:17:29.604 --> 1:17:30.724
And you're just like, okay, well...

1:17:31.935 --> 1:17:32.454
Um, you know,

1:17:32.494 --> 1:17:33.275
actually the reason I brought

1:17:33.315 --> 1:17:34.917
up taxes earlier was less

1:17:34.957 --> 1:17:36.356
about warning all of our

1:17:36.417 --> 1:17:37.497
British listeners to do

1:17:37.537 --> 1:17:40.219
their taxes and more that, um, you know,

1:17:40.279 --> 1:17:42.100
to say mayor Culper, and I don't know,

1:17:42.119 --> 1:17:43.320
I've said this before that, you know,

1:17:43.341 --> 1:17:44.161
you guys were right.

1:17:44.801 --> 1:17:46.141
On the AWS stuff, you know,

1:17:46.162 --> 1:17:47.061
there's a time and a place,

1:17:47.162 --> 1:17:49.323
and probably this was not the place,

1:17:49.944 --> 1:17:51.003
but we had to have a, um,

1:17:51.805 --> 1:17:52.965
a debrief like with the

1:17:53.005 --> 1:17:55.225
finance people before they submitted it,

1:17:55.326 --> 1:17:55.527
you know,

1:17:55.567 --> 1:17:56.806
just go through like the final

1:17:56.846 --> 1:17:58.307
high level line by line and say,

1:17:58.568 --> 1:18:00.029
do these numbers look reasonable?

1:18:01.792 --> 1:18:02.713
Is there nothing cheaper?

1:18:02.734 --> 1:18:04.136
Here's our rationale.

1:18:04.818 --> 1:18:07.061
And that was the conversation.

1:18:07.363 --> 1:18:08.104
They sort of said, look,

1:18:08.144 --> 1:18:09.086
here's your incoming.

1:18:10.572 --> 1:18:12.472
You could have had a pretty stable,

1:18:12.493 --> 1:18:16.875
normal year for a business

1:18:16.914 --> 1:18:19.555
that's got only one

1:18:19.595 --> 1:18:21.716
full-time employee and a few contractors.

1:18:23.377 --> 1:18:24.457
But look,

1:18:25.318 --> 1:18:29.699
some of these loss events that

1:18:29.739 --> 1:18:31.680
are caused by essentially

1:18:31.720 --> 1:18:33.942
spending a huge amount on infrastructure,

1:18:33.981 --> 1:18:35.042
which probably could be

1:18:35.061 --> 1:18:35.943
done more cheaply.

1:18:37.042 --> 1:18:38.042
has turned what would have

1:18:38.063 --> 1:18:41.264
been maybe an okay year into a bad year.

1:18:42.104 --> 1:18:48.824
There are other ways of making that money,

1:18:48.864 --> 1:18:49.485
basically,

1:18:49.525 --> 1:18:50.905
that don't involve working

1:18:50.945 --> 1:18:51.765
seven days a week.

1:18:52.006 --> 1:18:54.127
And it was really interesting, actually.

1:18:54.167 --> 1:18:55.027
I think when you're in it,

1:18:55.087 --> 1:18:55.587
and especially when

1:18:55.606 --> 1:18:56.426
you're... We've talked

1:18:56.447 --> 1:18:57.527
about burnout stuff like

1:18:57.546 --> 1:18:58.247
this in the past and

1:18:58.287 --> 1:18:59.568
decision-making when you're

1:18:59.587 --> 1:19:01.028
burnt out before.

1:19:01.887 --> 1:19:02.847
I think I went through a

1:19:02.868 --> 1:19:03.988
very long period of that.

1:19:04.908 --> 1:19:05.809
And it's quite...

1:19:08.998 --> 1:19:10.338
embarrassing is maybe a bit

1:19:10.378 --> 1:19:11.680
of a strong word but when

1:19:11.720 --> 1:19:12.359
you have somebody who's

1:19:12.460 --> 1:19:13.600
outside your business look

1:19:13.621 --> 1:19:14.820
at your numbers and then

1:19:15.320 --> 1:19:15.961
just look at your

1:19:16.020 --> 1:19:17.381
management decision making

1:19:17.782 --> 1:19:19.021
for that one year period

1:19:19.061 --> 1:19:21.042
and say look you would have

1:19:21.082 --> 1:19:22.944
had an okay year instead

1:19:22.963 --> 1:19:25.283
you had a bad year and

1:19:25.663 --> 1:19:26.425
fundamentally from a

1:19:26.484 --> 1:19:27.585
financial perspective you

1:19:27.625 --> 1:19:28.625
made bad decisions that's

1:19:28.725 --> 1:19:29.905
just in black and white here

1:19:30.666 --> 1:19:32.087
You came out of it with more

1:19:32.127 --> 1:19:32.867
money at the end of the

1:19:32.907 --> 1:19:34.207
year than you had at the

1:19:34.247 --> 1:19:36.307
beginning of the year, but not much.

1:19:36.768 --> 1:19:39.670
And to be honest,

1:19:39.909 --> 1:19:40.930
you were not making hay

1:19:40.989 --> 1:19:42.711
while there was any sunlight,

1:19:43.230 --> 1:19:44.372
no matter what market

1:19:44.412 --> 1:19:45.351
conditions were like.

1:19:46.252 --> 1:19:47.993
And I think it was real.

1:19:48.012 --> 1:19:48.972
I don't know.

1:19:48.993 --> 1:19:50.014
I've been thinking about it.

1:19:51.014 --> 1:19:51.734
This is only obviously for

1:19:51.755 --> 1:19:53.194
the last few days, these conversations.

1:19:55.511 --> 1:19:56.332
it's very interesting to

1:19:56.393 --> 1:19:57.353
just have somebody out and

1:19:57.412 --> 1:19:58.413
out say to your face,

1:19:58.953 --> 1:20:00.914
you had a bad year and you're like,

1:20:00.975 --> 1:20:02.176
but I work seven days a week.

1:20:02.275 --> 1:20:03.536
How could I have had a bad year?

1:20:03.555 --> 1:20:06.118
If trying to relate it back,

1:20:06.137 --> 1:20:07.698
would it be something like work smart?

1:20:07.759 --> 1:20:07.958
Yeah.

1:20:17.735 --> 1:20:18.676
so something like that is

1:20:18.697 --> 1:20:20.417
that kind of that is yeah

1:20:20.917 --> 1:20:22.478
yeah but it's it's exactly

1:20:22.497 --> 1:20:25.939
the same you know I just

1:20:25.960 --> 1:20:26.779
talked about it before

1:20:27.341 --> 1:20:28.140
about trying to work

1:20:28.161 --> 1:20:29.822
smarter just walking into

1:20:29.881 --> 1:20:31.823
rakes for a whole year yeah

1:20:33.082 --> 1:20:33.884
but you know we've also

1:20:33.904 --> 1:20:34.583
talked about this in the

1:20:34.623 --> 1:20:36.425
context of marketing or

1:20:36.585 --> 1:20:38.045
going to conferences you

1:20:38.085 --> 1:20:39.305
know it's also in what we

1:20:39.326 --> 1:20:41.167
do here it's very very hard to

1:20:43.170 --> 1:20:45.270
work out any kind of perspective,

1:20:45.490 --> 1:20:46.452
any kind of model for

1:20:46.492 --> 1:20:47.671
perspective return and

1:20:47.771 --> 1:20:48.613
where you should put

1:20:48.672 --> 1:20:51.394
additional energy to grow the business.

1:20:51.833 --> 1:20:52.954
And I think that's how you

1:20:52.975 --> 1:20:54.876
can end up working seven days a week.

1:20:55.475 --> 1:20:56.697
And then 18 months later,

1:20:56.716 --> 1:20:57.997
have somebody who's kind of

1:20:58.478 --> 1:20:59.337
tangentially involved in

1:20:59.358 --> 1:21:00.338
your business say, well,

1:21:00.498 --> 1:21:01.439
you had a bad year.

1:21:04.280 --> 1:21:05.980
You're like, but I worked really hard.

1:21:06.001 --> 1:21:06.561
Yeah.

1:21:07.909 --> 1:21:08.109
Yeah.

1:21:08.229 --> 1:21:09.091
Where I feel like I did.

1:21:09.110 --> 1:21:11.853
Well, I mean, we've always said this is,

1:21:11.932 --> 1:21:12.634
this business can be a

1:21:12.654 --> 1:21:14.255
little bit casino ish where you put,

1:21:14.335 --> 1:21:15.074
you put a lot of bets and

1:21:15.095 --> 1:21:15.496
you put a lot of,

1:21:15.655 --> 1:21:16.515
and your bets are both

1:21:16.976 --> 1:21:19.278
effort and time and resource, right?

1:21:20.078 --> 1:21:21.739
Um, whether that resource be liquid,

1:21:21.760 --> 1:21:24.402
like cash or your time or

1:21:24.421 --> 1:21:25.722
your team's time or something else.

1:21:25.762 --> 1:21:25.903
Right.

1:21:26.724 --> 1:21:26.863
Um,

1:21:27.304 --> 1:21:28.664
and some of those pay off and some of

1:21:28.704 --> 1:21:29.166
those don't,

1:21:29.466 --> 1:21:30.907
and there's only so many bets

1:21:30.926 --> 1:21:31.386
you can place.

1:21:31.927 --> 1:21:32.108
Right.

1:21:32.347 --> 1:21:32.847
And so, um,

1:21:34.716 --> 1:21:36.216
And some of those bets are

1:21:36.256 --> 1:21:36.997
within your control.

1:21:37.037 --> 1:21:38.819
And I would think in this case,

1:21:39.039 --> 1:21:39.840
there's a lot of things

1:21:39.859 --> 1:21:40.860
that are outside of your control.

1:21:40.961 --> 1:21:42.322
And sometimes it works out

1:21:42.341 --> 1:21:43.302
and sometimes it doesn't, right?

1:21:43.844 --> 1:21:44.884
And I think the value of

1:21:44.925 --> 1:21:47.506
being the figments or

1:21:47.567 --> 1:21:48.487
whatever else at that point

1:21:48.527 --> 1:21:49.328
is they play so many

1:21:49.427 --> 1:21:53.150
fucking bets that you need

1:21:53.171 --> 1:21:54.292
to have less wins.

1:21:54.511 --> 1:21:54.712
I mean,

1:21:54.853 --> 1:21:56.274
your percentage can be... We can

1:21:56.293 --> 1:21:57.033
have the same percentage,

1:21:57.074 --> 1:21:59.155
but from their perspective,

1:21:59.176 --> 1:21:59.657
they're going to have...

1:22:00.887 --> 1:22:02.167
since they're placing more bets,

1:22:02.188 --> 1:22:03.288
that percentage is higher.

1:22:03.788 --> 1:22:04.628
And so therefore you're

1:22:04.649 --> 1:22:06.210
going to have a higher return.

1:22:06.409 --> 1:22:08.010
And so when you're a small validator,

1:22:08.029 --> 1:22:09.289
I think, or a small node operator,

1:22:09.329 --> 1:22:10.650
and you're trying to focus

1:22:10.671 --> 1:22:11.791
on where you're going to spend your time,

1:22:11.930 --> 1:22:12.792
like I know me,

1:22:12.832 --> 1:22:13.872
like I know where I spend

1:22:13.912 --> 1:22:16.752
my time and what change we do.

1:22:16.792 --> 1:22:18.233
And usually that's not even based off of,

1:22:18.693 --> 1:22:18.953
honestly,

1:22:18.972 --> 1:22:20.453
that's even not based off of market.

1:22:20.753 --> 1:22:22.953
It's not usually based off of technology.

1:22:23.034 --> 1:22:24.095
It's usually based off the team.

1:22:24.875 --> 1:22:26.596
like do I like the people

1:22:26.636 --> 1:22:27.518
and can I work with the

1:22:27.557 --> 1:22:28.518
people on the other end of

1:22:28.559 --> 1:22:30.500
this and do I believe that

1:22:30.520 --> 1:22:32.402
they are not full of shit

1:22:33.082 --> 1:22:34.304
um that's usually where it

1:22:34.384 --> 1:22:35.604
is and that and honestly to

1:22:35.625 --> 1:22:36.725
get to that point takes a

1:22:36.845 --> 1:22:38.828
long fucking time like it's

1:22:38.847 --> 1:22:39.408
not something like you

1:22:39.427 --> 1:22:40.189
figure out in a week like

1:22:40.208 --> 1:22:41.409
it takes months right

1:22:41.791 --> 1:22:42.671
before you realize like

1:22:42.731 --> 1:22:43.612
this scene is what the fuck

1:22:43.631 --> 1:22:45.234
you're doing right and even

1:22:45.274 --> 1:22:47.515
like first yeah well even

1:22:47.576 --> 1:22:48.577
even like first even like

1:22:48.617 --> 1:22:50.738
first first um um

1:22:51.922 --> 1:22:53.304
perceptions are usually wrong too,

1:22:53.323 --> 1:22:54.184
because you're like either

1:22:54.224 --> 1:22:54.765
some teams are like, well,

1:22:54.784 --> 1:22:55.845
this team is their shit together.

1:22:55.864 --> 1:22:56.865
And you look at them like two months later,

1:22:56.886 --> 1:22:57.706
you're like, what the fuck is this?

1:22:58.167 --> 1:22:58.846
Or other ones, you're like,

1:22:58.867 --> 1:22:59.667
these guys don't know what

1:22:59.686 --> 1:23:00.207
the hell they're doing.

1:23:00.247 --> 1:23:01.167
And you come back and then like,

1:23:01.929 --> 1:23:02.569
and you know,

1:23:02.609 --> 1:23:04.689
then they're totally a wall oil machine.

1:23:05.050 --> 1:23:07.551
And so it's a tough business, man.

1:23:07.591 --> 1:23:07.891
Like it's,

1:23:08.152 --> 1:23:09.472
it's tough to build

1:23:09.533 --> 1:23:10.332
repeatability in here.

1:23:11.073 --> 1:23:11.993
Well, I mean that, yeah,

1:23:12.215 --> 1:23:12.814
but they might know what

1:23:12.835 --> 1:23:13.835
they're doing in some respects.

1:23:13.875 --> 1:23:14.935
And then other things that it's like,

1:23:14.956 --> 1:23:15.456
what the fuck?

1:23:15.716 --> 1:23:16.957
Like, correct.

1:23:17.016 --> 1:23:18.118
I don't mean technically, I mean like,

1:23:18.137 --> 1:23:19.719
how do you, how do you build a product?

1:23:19.798 --> 1:23:19.958
Right.

1:23:19.998 --> 1:23:20.538
Like how do you build

1:23:20.559 --> 1:23:21.340
something that really works?

1:23:22.078 --> 1:23:23.079
we'll say at their launch

1:23:23.119 --> 1:23:24.720
had a great technical team,

1:23:24.761 --> 1:23:27.082
like their guys that were

1:23:27.103 --> 1:23:29.505
building the chain were great, right?

1:23:30.104 --> 1:23:31.046
And good to work with.

1:23:31.345 --> 1:23:32.546
And then, but, you know,

1:23:32.587 --> 1:23:33.648
like the launch obviously

1:23:33.728 --> 1:23:37.190
was terrible and, you know,

1:23:37.211 --> 1:23:38.112
they didn't have the...

1:23:38.931 --> 1:23:40.073
Either the right people or

1:23:40.172 --> 1:23:42.354
enough of the right people or, you know,

1:23:42.395 --> 1:23:43.796
the right mix of people to

1:23:43.837 --> 1:23:46.800
sort of make it an overwhelming success.

1:23:46.819 --> 1:23:48.501
But, I mean, that's not uncommon either.

1:23:48.520 --> 1:23:49.502
There's so many launches

1:23:49.542 --> 1:23:51.423
that just don't go great.

1:23:52.305 --> 1:23:53.365
And a lot of that's because

1:23:53.426 --> 1:23:54.487
they just hype the shit out

1:23:54.506 --> 1:23:57.149
of it before they do something as well.

1:23:57.189 --> 1:23:59.431
And then it's underwhelming or whatever.

1:23:59.452 --> 1:23:59.532
Yeah.

1:24:00.122 --> 1:24:01.144
Or some tokenomics thing

1:24:01.163 --> 1:24:02.524
that they don't realize or

1:24:02.904 --> 1:24:03.585
something that they don't

1:24:03.664 --> 1:24:04.864
realize how large of a deal

1:24:04.904 --> 1:24:05.725
it is and it turns into

1:24:05.746 --> 1:24:10.047
this massive... Or something, right?

1:24:11.108 --> 1:24:12.349
They didn't realize that it

1:24:12.389 --> 1:24:13.349
might be a problem that one

1:24:13.368 --> 1:24:14.930
of the validators had over

1:24:14.930 --> 1:24:17.791
33.4% of voting power.

1:24:17.890 --> 1:24:18.811
Or that it might have been a

1:24:18.832 --> 1:24:19.492
problem that they didn't

1:24:19.511 --> 1:24:21.993
realize that just some whale might go,

1:24:22.033 --> 1:24:23.573
well, fuck it, I'm not parting with 5%.

1:24:23.573 --> 1:24:26.114
Yeah, exactly.

1:24:26.395 --> 1:24:27.836
Put up a validator and just be a...

1:24:28.595 --> 1:24:29.817
own the network all of a

1:24:29.837 --> 1:24:31.097
sudden at a hundred percent

1:24:31.198 --> 1:24:33.260
right yeah yeah yeah so I

1:24:33.539 --> 1:24:35.442
yeah I but I mean I mean

1:24:35.462 --> 1:24:37.082
and fuck accountants and

1:24:37.103 --> 1:24:37.944
their viewpoints on your

1:24:37.963 --> 1:24:40.386
business too like it's not

1:24:40.747 --> 1:24:41.407
they weren't they weren't

1:24:41.426 --> 1:24:42.747
being like rude about it

1:24:42.787 --> 1:24:43.588
they were just they were

1:24:43.689 --> 1:24:44.409
they were just sort of

1:24:44.449 --> 1:24:45.511
looking at the raw numbers

1:24:45.671 --> 1:24:47.631
and what was funny is that

1:24:47.733 --> 1:24:48.873
they thought I knew right

1:24:50.582 --> 1:24:51.984
knew what well they thought

1:24:52.043 --> 1:24:54.086
I knew that I'd had a bad

1:24:54.166 --> 1:24:55.527
year so they were like oh

1:24:55.667 --> 1:24:56.408
bad year and you're like

1:24:56.448 --> 1:24:58.911
what well no no no this was

1:24:58.970 --> 1:25:01.233
it they only said that it

1:25:01.273 --> 1:25:02.134
was like a rolls-royce

1:25:02.173 --> 1:25:02.954
product parked out front

1:25:02.975 --> 1:25:03.654
you got a crown on your

1:25:03.676 --> 1:25:04.416
head you're like what are

1:25:04.435 --> 1:25:05.516
you talking about yeah it

1:25:05.537 --> 1:25:06.597
was over simpson because

1:25:06.618 --> 1:25:08.220
they they basically they

1:25:08.359 --> 1:25:09.621
open with saying that

1:25:10.261 --> 1:25:11.042
Because they were like,

1:25:11.122 --> 1:25:12.984
but look at all the positives, you know,

1:25:13.005 --> 1:25:14.627
that we got a couple, we got a,

1:25:15.047 --> 1:25:19.091
you got a nice new desk on your asset.

1:25:20.052 --> 1:25:21.154
The phrase slides,

1:25:21.215 --> 1:25:22.615
the Lamborghini color

1:25:22.636 --> 1:25:23.777
selection book under the bed.

1:25:23.817 --> 1:25:23.978
Yeah.

1:25:25.920 --> 1:25:27.400
So they were basically being like,

1:25:27.541 --> 1:25:29.221
in spite of it being a bad year,

1:25:29.443 --> 1:25:30.622
there's a lot of reasons to

1:25:30.684 --> 1:25:32.444
think that the company's in

1:25:32.484 --> 1:25:33.265
a solid place.

1:25:33.386 --> 1:25:35.106
And we know that the year

1:25:35.226 --> 1:25:36.688
after that is a bit more solid,

1:25:36.708 --> 1:25:37.229
the year that we're

1:25:37.269 --> 1:25:38.170
currently going through,

1:25:38.229 --> 1:25:39.350
because you've made some changes,

1:25:39.371 --> 1:25:41.051
you've reduced your costs.

1:25:41.372 --> 1:25:42.472
So in a lot of ways,

1:25:42.512 --> 1:25:43.434
we need to think of this as

1:25:43.474 --> 1:25:44.515
an adjustment year.

1:25:44.534 --> 1:25:46.155
And I was just like, wait, wait, wait,

1:25:46.216 --> 1:25:46.856
back up a second.

1:25:46.877 --> 1:25:47.516
Bad year?

1:25:47.717 --> 1:25:48.238
Bad year?

1:25:48.297 --> 1:25:50.019
And they're like, well, but it's all...

1:25:51.060 --> 1:25:52.021
on the balance sheet I'm

1:25:52.042 --> 1:25:53.162
just like I like looking

1:25:53.202 --> 1:25:54.042
through it like an idiot

1:25:54.063 --> 1:25:56.203
being like yes yes I see

1:25:56.243 --> 1:25:57.283
the pro like it's very

1:25:57.323 --> 1:25:58.425
homer simpson I was like

1:25:58.725 --> 1:26:00.666
yes point dexter's I see

1:26:00.685 --> 1:26:04.507
the no no no so but yeah I

1:26:04.747 --> 1:26:05.788
it took me a second to be

1:26:05.849 --> 1:26:06.869
like oh no this has

1:26:06.970 --> 1:26:08.970
actually not been our finest hour

1:26:10.777 --> 1:26:14.078
You know, Def, name the fray.

1:26:15.259 --> 1:26:16.738
The top row here, the top shelf,

1:26:17.220 --> 1:26:18.500
we both lost money last year.

1:26:18.520 --> 1:26:19.279
I think the bottom shelf

1:26:19.300 --> 1:26:21.121
here is they've made profits.

1:26:22.141 --> 1:26:23.662
So I feel your pain,

1:26:23.721 --> 1:26:24.622
but I knew I was losing

1:26:24.682 --> 1:26:25.502
money the entire time.

1:26:27.810 --> 1:26:28.190
Yeah.

1:26:28.391 --> 1:26:30.153
I mean, the surprising,

1:26:30.673 --> 1:26:31.375
the surprising thing is

1:26:31.414 --> 1:26:32.234
obviously that although the

1:26:32.274 --> 1:26:33.355
first few months of Aptos,

1:26:33.376 --> 1:26:34.497
the token price was low,

1:26:34.557 --> 1:26:36.179
the cost of running was pretty high.

1:26:36.219 --> 1:26:37.820
And we also had incurred all

1:26:37.841 --> 1:26:39.421
the costs of the test nets

1:26:39.462 --> 1:26:40.643
before it launched and everything.

1:26:42.465 --> 1:26:44.527
Again, like it's so easy to spend.

1:26:45.207 --> 1:26:45.847
I know this.

1:26:45.868 --> 1:26:46.128
Okay.

1:26:46.849 --> 1:26:47.869
Should the fray even be in

1:26:47.909 --> 1:26:49.652
business with what he's about to say?

1:26:49.872 --> 1:26:51.333
It's very easy to spend money.

1:26:52.395 --> 1:26:53.515
And sometimes it's quite

1:26:53.555 --> 1:26:54.716
hard to keep a track on

1:26:54.796 --> 1:26:56.698
what every budget line was

1:26:56.759 --> 1:26:58.199
expended against until you

1:26:58.220 --> 1:26:59.121
get right to the end,

1:26:59.480 --> 1:27:00.641
to literally the report I

1:27:00.662 --> 1:27:03.003
was given three days ago and go, huh,

1:27:04.484 --> 1:27:05.225
that was the cost of

1:27:05.265 --> 1:27:06.207
actually running all that,

1:27:06.306 --> 1:27:07.387
acquiring that client,

1:27:07.747 --> 1:27:08.708
getting on that network,

1:27:08.809 --> 1:27:09.729
getting on main net,

1:27:10.270 --> 1:27:11.751
running it for the first five months.

1:27:13.712 --> 1:27:16.055
I think that's tough too,

1:27:16.074 --> 1:27:18.197
because I try not to...

1:27:19.337 --> 1:27:22.000
I try not to budget or be

1:27:22.060 --> 1:27:23.701
able to identify

1:27:23.761 --> 1:27:25.703
profitability at a chain level.

1:27:25.983 --> 1:27:27.123
I really try not to.

1:27:27.144 --> 1:27:29.886
It's more of a group level, right?

1:27:30.305 --> 1:27:31.106
More of a group level,

1:27:31.306 --> 1:27:34.149
or I have groups of either

1:27:34.168 --> 1:27:36.350
validator operations or RPC

1:27:36.430 --> 1:27:37.570
or other types of things, right?

1:27:37.610 --> 1:27:39.112
I know what those are at a high level,

1:27:40.052 --> 1:27:40.672
but I try to do it at a

1:27:40.712 --> 1:27:41.514
chain level because then

1:27:41.533 --> 1:27:42.173
becomes really...

1:27:43.096 --> 1:27:45.338
it becomes really difficult to then to,

1:27:45.819 --> 1:27:47.020
I mean, it's good to, I guess it's good.

1:27:47.560 --> 1:27:48.720
I guess it'd be good to look at it and say,

1:27:48.740 --> 1:27:50.322
this is worthwhile or not worthwhile.

1:27:50.341 --> 1:27:51.082
And I'm spending this much

1:27:51.122 --> 1:27:52.063
on this for this long.

1:27:52.103 --> 1:27:53.764
And is, is that return going to be there,

1:27:53.804 --> 1:27:55.085
which I, you know, I have in my head,

1:27:55.926 --> 1:27:58.347
but it's tough to look at

1:27:58.387 --> 1:28:00.109
and be able to be really,

1:28:01.420 --> 1:28:02.661
really that level of deal

1:28:02.680 --> 1:28:03.481
because also like a lot of

1:28:03.502 --> 1:28:04.762
times you run nodes for for

1:28:04.802 --> 1:28:05.764
multiple different chains

1:28:05.823 --> 1:28:06.765
at once so it's difficult

1:28:06.784 --> 1:28:07.985
to break that out but I

1:28:08.025 --> 1:28:09.167
mean and honestly the

1:28:09.207 --> 1:28:09.987
hardware side is really not

1:28:10.006 --> 1:28:11.469
a big deal just be I know

1:28:11.488 --> 1:28:12.328
you have some people cost

1:28:12.368 --> 1:28:13.250
too which which is

1:28:13.310 --> 1:28:14.591
different like people cost

1:28:14.631 --> 1:28:15.692
is really where that gets

1:28:15.731 --> 1:28:16.393
really expensive

1:28:17.454 --> 1:28:18.636
We definitely don't break

1:28:18.695 --> 1:28:22.719
down costs by network or

1:28:22.779 --> 1:28:25.341
even by division.

1:28:26.100 --> 1:28:29.684
Our RPC services division is

1:28:30.385 --> 1:28:31.886
the same thing as the

1:28:31.926 --> 1:28:32.865
validators division.

1:28:33.466 --> 1:28:34.707
The income from both are

1:28:34.728 --> 1:28:38.350
broken into separate lines,

1:28:38.409 --> 1:28:40.292
but all the costs are the same.

1:28:40.894 --> 1:28:41.875
Yeah, they're all COGS, right?

1:28:42.095 --> 1:28:43.176
So they're all cost of goods.

1:28:43.396 --> 1:28:45.779
They're all cost of goods, yeah.

1:28:46.320 --> 1:28:47.362
And it's tough to break that out,

1:28:47.402 --> 1:28:48.764
but I assume I could.

1:28:48.923 --> 1:28:50.905
It's really like a lack of... I mean,

1:28:50.966 --> 1:28:52.047
do I know that the contract

1:28:52.087 --> 1:28:52.929
is covering those costs and

1:28:52.948 --> 1:28:54.029
I have an understanding of that margin?

1:28:54.170 --> 1:28:55.192
I think the answer to that is yes.

1:28:55.351 --> 1:28:56.833
And then in the grand scheme of things,

1:28:56.854 --> 1:28:57.635
do I really need to care?

1:28:58.274 --> 1:28:59.596
We have different types of...

1:29:00.768 --> 1:29:02.088
costs of goods broken down

1:29:02.189 --> 1:29:04.030
so like colo is separate to

1:29:04.411 --> 1:29:05.572
um you know cloud is

1:29:05.612 --> 1:29:07.432
separate to you know uh

1:29:08.194 --> 1:29:10.576
routing and um and dns and

1:29:10.615 --> 1:29:12.237
that type of stuff we sort

1:29:12.256 --> 1:29:13.337
of break those down and

1:29:13.377 --> 1:29:14.319
then you've got all of your

1:29:14.359 --> 1:29:15.699
like business expenses like

1:29:16.320 --> 1:29:18.381
zero and um google and

1:29:18.922 --> 1:29:20.064
fucking I don't know

1:29:20.304 --> 1:29:21.203
discord or whatever the

1:29:21.243 --> 1:29:22.125
fuck else we pay for

1:29:22.145 --> 1:29:23.386
there's like so many of

1:29:23.426 --> 1:29:24.606
those things they just get

1:29:24.646 --> 1:29:26.087
all chucked in a subscriptions line

1:29:28.109 --> 1:29:28.369
You know,

1:29:28.409 --> 1:29:29.591
we break that stuff down to get a

1:29:29.631 --> 1:29:31.573
better idea of where our money's going.

1:29:31.632 --> 1:29:33.073
But in terms of like

1:29:33.134 --> 1:29:33.954
actually trying to figure

1:29:34.015 --> 1:29:35.555
out what to attribute that to,

1:29:35.576 --> 1:29:36.457
we don't bother.

1:29:37.257 --> 1:29:38.338
I don't know if that would

1:29:38.519 --> 1:29:40.060
be a good exercise or just make me sad.

1:29:40.079 --> 1:29:41.862
Yeah, like...