WEBVTT

00:00:00.229 --> 00:00:02.593
where's dark mode with uh on

00:00:02.633 --> 00:00:03.576
streamer and you can turn

00:00:03.596 --> 00:00:04.357
on dark mode you get all

00:00:04.477 --> 00:00:05.219
get this bright light out

00:00:05.240 --> 00:00:06.883
of your face all right

00:00:06.942 --> 00:00:09.227
how'd you do that who the fuck knows

00:00:25.890 --> 00:00:26.731
Welcome to Game of Nodes,

00:00:26.751 --> 00:00:28.532
the most punctual validator

00:00:28.571 --> 00:00:32.414
podcast in the interchain.

00:00:32.613 --> 00:00:34.755
Only two minutes over the...

00:00:34.835 --> 00:00:35.615
Some sort of record.

00:00:36.235 --> 00:00:37.137
It's New Leaf, baby.

00:00:38.156 --> 00:00:39.158
We are so early,

00:00:39.237 --> 00:00:40.497
people haven't even fucking

00:00:40.557 --> 00:00:44.520
showed up yet.

00:00:44.539 --> 00:00:45.021
People have no idea.

00:00:45.040 --> 00:00:46.420
It's like a very, very long-running,

00:00:46.521 --> 00:00:49.283
one hundred and thirty-three episode.

00:00:50.243 --> 00:00:51.703
rug pool where we do the we

00:00:51.743 --> 00:00:52.503
actually do the episode on

00:00:52.543 --> 00:00:53.804
time and and people aren't

00:00:53.823 --> 00:00:56.924
prepared for it uh yeah

00:00:56.945 --> 00:00:57.405
it's kind of like the

00:00:57.524 --> 00:00:59.244
anti-rug maybe we're maybe

00:00:59.265 --> 00:01:00.485
we're bringing the rug back

00:01:00.545 --> 00:01:01.665
but we're we're flipping

00:01:01.706 --> 00:01:02.725
the script on the rug the

00:01:02.746 --> 00:01:04.867
rug is at the beginning I

00:01:04.906 --> 00:01:07.066
don't know man uh I think

00:01:07.087 --> 00:01:09.128
by now we've alienated all

00:01:09.147 --> 00:01:09.927
of our audience

00:01:10.686 --> 00:01:12.188
Yeah, but the thing is,

00:01:13.489 --> 00:01:14.230
the wonderful thing about

00:01:14.251 --> 00:01:15.412
this washing machine, right,

00:01:15.492 --> 00:01:16.534
is eventually, like,

00:01:17.655 --> 00:01:19.376
it's highly likely due to

00:01:19.397 --> 00:01:21.659
the cyclical nature of, well,

00:01:22.100 --> 00:01:23.081
economic cycles, right,

00:01:23.242 --> 00:01:25.165
that the bull will come back around.

00:01:25.405 --> 00:01:26.385
And maybe, you know,

00:01:26.465 --> 00:01:28.048
Cosmos may be done for, but they're...

00:01:28.808 --> 00:01:29.450
there will be a bull

00:01:29.489 --> 00:01:31.111
somewhere in some ecosystem

00:01:31.131 --> 00:01:31.691
that we work on.

00:01:33.231 --> 00:01:35.233
And then maybe, maybe for a moment,

00:01:35.373 --> 00:01:36.355
we will be relevant again

00:01:36.635 --> 00:01:38.195
and people will go and they will go,

00:01:38.596 --> 00:01:39.697
I wonder if there is more

00:01:39.796 --> 00:01:41.638
insightful commentary from

00:01:41.817 --> 00:01:42.879
these wonderful and

00:01:43.198 --> 00:01:47.503
wholesome validator operators.

00:01:47.563 --> 00:01:48.503
And they will watch,

00:01:48.722 --> 00:01:51.224
they will watch potentially at that point,

00:01:51.265 --> 00:01:52.566
because obviously the bull

00:01:52.605 --> 00:01:54.266
will start in another three years time.

00:01:54.668 --> 00:01:57.028
So there'll be, there'll be, there isn't,

00:01:57.209 --> 00:01:57.650
and there won't,

00:01:58.546 --> 00:01:59.387
There will be two hundred

00:01:59.427 --> 00:02:00.248
and ten episodes.

00:02:02.828 --> 00:02:03.689
So far we have.

00:02:03.750 --> 00:02:04.069
Yeah.

00:02:04.209 --> 00:02:04.310
One.

00:02:04.650 --> 00:02:04.969
What is it?

00:02:05.069 --> 00:02:06.150
One hundred and one hundred

00:02:06.171 --> 00:02:06.730
and thirty three.

00:02:07.792 --> 00:02:09.973
Three, which is quite a few.

00:02:10.013 --> 00:02:13.474
We there are more there are

00:02:13.495 --> 00:02:14.836
substantially more episodes

00:02:14.876 --> 00:02:16.415
than there are shit chains in Cosmos,

00:02:16.496 --> 00:02:17.556
which is impressive.

00:02:18.508 --> 00:02:20.269
yeah surviving shit changing

00:02:20.288 --> 00:02:23.290
sorry our numbers out of

00:02:23.350 --> 00:02:24.872
eighty right it was eighty

00:02:24.972 --> 00:02:25.772
five or something when it

00:02:25.812 --> 00:02:26.853
started to change with

00:02:26.973 --> 00:02:30.376
economic value over uh one

00:02:30.436 --> 00:02:31.575
hundred thousand dollars I

00:02:31.596 --> 00:02:32.836
think that's probably about

00:02:32.896 --> 00:02:34.117
five of those something

00:02:34.138 --> 00:02:37.860
like that um yeah I don't

00:02:38.259 --> 00:02:38.920
know in too fair there's

00:02:38.961 --> 00:02:39.881
probably some with that's

00:02:39.920 --> 00:02:40.741
probably a bit low that's

00:02:40.762 --> 00:02:42.062
probably a bit unfair of me but um

00:02:43.712 --> 00:02:46.253
when we were doing some

00:02:46.414 --> 00:02:48.316
winding down of operations

00:02:48.376 --> 00:02:50.516
in Cosmos this last week, as planned.

00:02:52.258 --> 00:02:55.020
And when you do the maths to

00:02:55.540 --> 00:02:57.301
just work out what those

00:02:57.382 --> 00:03:00.784
realized losses are and what those,

00:03:01.004 --> 00:03:01.746
what is it called?

00:03:05.647 --> 00:03:08.110
What the current value of tokens is now,

00:03:08.210 --> 00:03:09.971
you're like, we are down a bit, aren't we,

00:03:09.991 --> 00:03:10.231
fellas?

00:03:10.252 --> 00:03:12.133
Yeah, I'm bad.

00:03:13.338 --> 00:03:14.180
it's how bad you're like

00:03:14.500 --> 00:03:16.061
you're like uh it was I I

00:03:16.080 --> 00:03:17.841
think I said I think I said

00:03:17.860 --> 00:03:18.762
a message like being like

00:03:18.801 --> 00:03:19.662
it's like that scene in the

00:03:19.701 --> 00:03:21.302
simpsons where he's he

00:03:21.323 --> 00:03:23.024
looks at the teleprinter mr

00:03:23.063 --> 00:03:23.524
burns looks at the

00:03:23.563 --> 00:03:24.443
teleprinter and he's like

00:03:24.985 --> 00:03:26.604
ah yes here's where I last

00:03:26.645 --> 00:03:28.866
checked my stock portfolio october

00:03:33.668 --> 00:03:34.769
So, yeah.

00:03:34.868 --> 00:03:35.389
And he's just like,

00:03:35.429 --> 00:03:37.209
let's see what happened later that week.

00:03:37.968 --> 00:03:39.689
And, oh, no.

00:03:40.129 --> 00:03:40.310
Yeah,

00:03:40.449 --> 00:03:42.711
that's kind of what I felt like this week,

00:03:42.811 --> 00:03:44.830
being like, huh,

00:03:44.911 --> 00:03:46.010
we have staking rewards we

00:03:46.050 --> 00:03:47.032
haven't claimed in a while.

00:03:47.192 --> 00:03:47.912
Oh, that's nice.

00:03:48.512 --> 00:03:50.032
It's two thousand Juno.

00:03:50.211 --> 00:03:51.252
I wonder what those are worth.

00:03:51.513 --> 00:03:54.993
Twenty five dollars or something.

00:03:55.234 --> 00:03:55.973
Ah, dear.

00:03:56.554 --> 00:03:57.574
Good times.

00:03:57.693 --> 00:03:58.514
Yeah, good times.

00:03:59.134 --> 00:03:59.414
That was...

00:04:00.784 --> 00:04:03.807
That was worth a few bob at some point.

00:04:05.509 --> 00:04:06.811
I think I accidentally just

00:04:07.512 --> 00:04:08.932
banned Rama from YouTube.

00:04:08.953 --> 00:04:12.796
A news researcher has just been banned.

00:04:12.817 --> 00:04:13.318
I think I did.

00:04:19.365 --> 00:04:20.646
I didn't mean to hit that

00:04:20.665 --> 00:04:21.747
and it just kind of went

00:04:21.786 --> 00:04:23.427
forward on that I'm sorry

00:04:23.447 --> 00:04:24.369
I'm gonna try to bring it

00:04:24.389 --> 00:04:25.829
back the buttons got away

00:04:25.870 --> 00:04:26.951
from you he's switching

00:04:27.011 --> 00:04:27.872
he's switching accounts as

00:04:27.891 --> 00:04:29.552
the yell at us sorry about

00:04:29.572 --> 00:04:33.636
that dude yeah I'm sure um

00:04:33.755 --> 00:04:36.358
so yeah uh what's been

00:04:36.377 --> 00:04:37.519
happening this week other

00:04:37.538 --> 00:04:39.261
than the blindingly obvious

00:04:43.221 --> 00:04:45.523
in light of the incredible

00:04:46.043 --> 00:04:47.483
crab market for the last as

00:04:47.543 --> 00:04:49.764
long as I can remember um

00:04:50.605 --> 00:04:51.884
you know just thought do a

00:04:51.904 --> 00:04:54.266
bit of a an audit on uh

00:04:54.526 --> 00:04:56.406
what servers we have and

00:04:56.466 --> 00:04:58.127
like what the is on them

00:04:58.627 --> 00:04:59.908
because my list seemed to

00:04:59.927 --> 00:05:00.908
be a little bit out of date

00:05:01.939 --> 00:05:04.262
And did find a seventy nine

00:05:04.281 --> 00:05:05.642
fifty X three day with an

00:05:05.783 --> 00:05:10.228
SSV client on it only.

00:05:10.327 --> 00:05:10.567
Well.

00:05:12.134 --> 00:05:12.494
Yes.

00:05:12.814 --> 00:05:13.555
I mean, I think,

00:05:14.134 --> 00:05:15.435
was it not episode like

00:05:15.915 --> 00:05:17.377
fucking one hundred and

00:05:17.396 --> 00:05:18.197
three or something was

00:05:18.237 --> 00:05:18.997
called like time to

00:05:19.038 --> 00:05:20.259
formalize this cartel.

00:05:20.399 --> 00:05:21.800
I think I think we've been

00:05:21.839 --> 00:05:23.081
paying for something of

00:05:23.480 --> 00:05:25.021
something somewhere with an

00:05:25.041 --> 00:05:31.045
SSV client on it for some time.

00:05:31.105 --> 00:05:31.365
You know.

00:05:32.423 --> 00:05:33.624
to do some Game of Nodes

00:05:33.663 --> 00:05:36.444
formalized cartelling on Ethereum.

00:05:37.285 --> 00:05:37.865
Yeah, look,

00:05:38.146 --> 00:05:39.807
I'm just really apprehensive

00:05:39.846 --> 00:05:42.028
about committing my Ethereum,

00:05:42.067 --> 00:05:42.608
to be honest.

00:05:43.468 --> 00:05:44.769
I just don't know if I can do it.

00:05:46.721 --> 00:05:48.360
At the moment,

00:05:48.380 --> 00:05:49.721
your Ethereum is not making you anything.

00:05:49.942 --> 00:05:51.302
If you committed to the cartel,

00:05:51.322 --> 00:05:53.124
you get a percent or whatever.

00:05:53.963 --> 00:05:54.925
I'm not making anything.

00:05:55.564 --> 00:05:56.305
I'm losing money.

00:05:57.886 --> 00:05:59.526
Which is weird because

00:05:59.567 --> 00:06:00.187
normally you're quite

00:06:00.247 --> 00:06:01.687
rational about business decisions,

00:06:01.728 --> 00:06:03.468
but this is demonstrably a bad one.

00:06:05.807 --> 00:06:06.369
Yeah,

00:06:06.449 --> 00:06:08.129
and I don't understand why I would do

00:06:08.170 --> 00:06:08.589
that.

00:06:09.230 --> 00:06:10.632
We've all set up the servers

00:06:10.651 --> 00:06:12.153
and the infrastructure at its rate.

00:06:12.934 --> 00:06:13.593
For once,

00:06:14.495 --> 00:06:16.776
I am not the one dragging my feet.

00:06:16.976 --> 00:06:18.377
That shit has been set up for months.

00:06:18.798 --> 00:06:19.379
We set it up.

00:06:20.339 --> 00:06:21.339
It's in pager duty.

00:06:21.360 --> 00:06:22.641
That shit will wake me up if

00:06:22.661 --> 00:06:23.221
it goes wrong.

00:06:23.562 --> 00:06:25.002
and right now well I mean

00:06:25.023 --> 00:06:26.362
start doing anything if

00:06:26.423 --> 00:06:26.942
I've screwed up the

00:06:26.983 --> 00:06:28.463
monitoring rules it might

00:06:28.504 --> 00:06:29.543
still wake me up if that

00:06:29.584 --> 00:06:30.925
box has a problem even

00:06:31.004 --> 00:06:32.745
though it has no bonded

00:06:32.786 --> 00:06:34.545
stake because a certain

00:06:34.567 --> 00:06:35.666
member of this cartel has

00:06:35.726 --> 00:06:37.507
not yet formalized his you

00:06:37.528 --> 00:06:39.307
know he's not yet cut the

00:06:39.327 --> 00:06:40.389
blood from his hand on the

00:06:40.428 --> 00:06:42.569
handshake whatever it is

00:06:42.589 --> 00:06:45.031
that they do I mean our our

00:06:45.170 --> 00:06:46.451
cohort is a chaffinch with

00:06:46.471 --> 00:06:47.812
a hood over his head or

00:06:47.851 --> 00:06:48.612
whatever the hell it is

00:06:48.651 --> 00:06:50.233
people do to join a cult I

00:06:50.252 --> 00:06:52.913
don't know I just don't know if like

00:06:54.442 --> 00:06:55.663
that platform is the one

00:06:55.684 --> 00:06:56.423
that I want to be on you

00:06:56.884 --> 00:06:58.185
know what I mean ethereum

00:06:58.625 --> 00:07:00.665
or ssb no I like the that

00:07:00.745 --> 00:07:04.067
staking liquid yeah who

00:07:04.088 --> 00:07:06.288
cares yeah who cares it's a

00:07:06.329 --> 00:07:08.029
commodity right it's just

00:07:08.069 --> 00:07:09.470
another thing what if I

00:07:09.490 --> 00:07:11.130
want my eth back and you

00:07:11.151 --> 00:07:12.132
don't agree to get it back

00:07:12.172 --> 00:07:13.291
yeah you just don't take it

00:07:13.331 --> 00:07:14.213
and then you just don't

00:07:14.233 --> 00:07:16.134
take it and it falls out and it falls out

00:07:17.134 --> 00:07:17.795
I'm sure it's going to be,

00:07:17.814 --> 00:07:19.596
this is going to be a massive pool.

00:07:19.755 --> 00:07:20.737
I mean, we're going to have thousands.

00:07:20.776 --> 00:07:24.160
So if you take your huge, huge, huge,

00:07:24.180 --> 00:07:25.221
if you take your anyway,

00:07:25.240 --> 00:07:26.182
it's not going to make a difference.

00:07:32.005 --> 00:07:34.528
So there was a new L president over there.

00:07:34.548 --> 00:07:34.629
Yeah.

00:07:34.649 --> 00:07:35.209
I heard.

00:07:35.249 --> 00:07:35.329
Yeah.

00:07:35.348 --> 00:07:38.391
Well, came up on the news this morning.

00:07:38.951 --> 00:07:40.153
How does everyone feel about that?

00:07:40.653 --> 00:07:41.113
I don't know.

00:07:41.713 --> 00:07:42.514
I've been staying away from it.

00:07:42.595 --> 00:07:44.476
I've been staying away from it.

00:07:45.305 --> 00:07:48.271
Do you think that, you know,

00:07:48.331 --> 00:07:49.574
I don't want to talk about it this much,

00:07:49.613 --> 00:07:52.761
but do you think that Elon

00:07:52.800 --> 00:07:55.166
and Joe Rogan played a big part in that?

00:07:55.247 --> 00:07:55.307
No.

00:07:56.283 --> 00:07:56.843
No.

00:07:56.862 --> 00:07:57.524
What about Elon?

00:07:57.704 --> 00:07:58.964
He's been spruiking him hard.

00:07:59.264 --> 00:08:00.966
There's been so much fucking

00:08:01.005 --> 00:08:02.966
propaganda on X. It's money.

00:08:03.286 --> 00:08:05.728
Like Elon's put up a lot of

00:08:05.788 --> 00:08:07.430
money and the money talks.

00:08:08.029 --> 00:08:10.451
But the propaganda on X and

00:08:10.471 --> 00:08:13.112
the fucking amount of shit

00:08:13.132 --> 00:08:13.992
that I've seen on there

00:08:14.012 --> 00:08:17.134
that's pro-Trump and like

00:08:17.235 --> 00:08:18.235
against that other lady.

00:08:19.189 --> 00:08:19.711
what was her name?

00:08:20.752 --> 00:08:21.331
Kamala Harris.

00:08:21.372 --> 00:08:22.132
Yeah.

00:08:22.153 --> 00:08:22.754
Kamala Harris.

00:08:23.535 --> 00:08:25.978
It's just like so much stuff.

00:08:26.338 --> 00:08:28.259
That's like all this fucking

00:08:28.300 --> 00:08:29.360
photoshopped shit.

00:08:29.380 --> 00:08:29.562
Oh yeah.

00:08:29.742 --> 00:08:30.583
You know,

00:08:31.142 --> 00:08:32.904
of like the Diddy parties and all

00:08:32.924 --> 00:08:33.645
the other bullshit.

00:08:33.706 --> 00:08:36.548
It's just fucking insane.

00:08:36.589 --> 00:08:37.971
The amount of like propaganda.

00:08:37.990 --> 00:08:38.071
Yeah.

00:08:38.919 --> 00:08:41.542
I mean, it's a platform of it, right?

00:08:41.601 --> 00:08:42.602
So, I mean, sure,

00:08:42.663 --> 00:08:43.503
I'm sure it had an effect.

00:08:43.663 --> 00:08:44.764
There's no doubt about it, right?

00:08:44.844 --> 00:08:45.804
It had to have had.

00:08:47.265 --> 00:08:49.027
I also think Democrats find ways to lose.

00:08:50.388 --> 00:08:51.009
Like,

00:08:51.068 --> 00:08:55.471
I think they're experts at can't

00:08:55.491 --> 00:08:56.292
getting out of their own

00:08:56.351 --> 00:08:59.715
way with ideology and

00:09:00.274 --> 00:09:01.995
incorrect rhetoric and not

00:09:02.015 --> 00:09:03.998
reading the room and just

00:09:04.057 --> 00:09:05.719
being fucking stupid about shit.

00:09:05.938 --> 00:09:07.179
So I think, like...

00:09:08.259 --> 00:09:11.381
Part of that is I do think

00:09:11.442 --> 00:09:14.763
that most of those teams

00:09:14.783 --> 00:09:15.744
don't know how to run campaigns.

00:09:15.964 --> 00:09:17.365
And they don't know how to communicate.

00:09:17.865 --> 00:09:18.465
And they don't know how to

00:09:18.524 --> 00:09:21.626
actually answer questions.

00:09:21.647 --> 00:09:24.888
They just can't get out of

00:09:24.908 --> 00:09:25.489
their own way in some of

00:09:25.509 --> 00:09:26.068
those types of things.

00:09:26.769 --> 00:09:28.509
And I think people see through that shit,

00:09:28.549 --> 00:09:29.490
too.

00:09:30.410 --> 00:09:31.130
And right now, I mean,

00:09:31.932 --> 00:09:32.892
from an economy perspective,

00:09:32.912 --> 00:09:34.812
I think the economy's doing quite well.

00:09:35.253 --> 00:09:38.455
From a post-COVID inflation side,

00:09:40.514 --> 00:09:41.255
it's miserable.

00:09:41.495 --> 00:09:42.096
And I think people have

00:09:42.115 --> 00:09:42.676
short-term memories.

00:09:42.956 --> 00:09:45.177
So let's solve the problem now.

00:09:45.197 --> 00:09:46.077
And I think that's what's

00:09:46.097 --> 00:09:46.817
going to solve the problem.

00:09:46.857 --> 00:09:48.479
Fucking hell.

00:09:48.859 --> 00:09:49.938
America's been living on

00:09:49.999 --> 00:09:51.960
printed money for fucking decades now.

00:09:52.480 --> 00:09:53.341
No, way longer than that.

00:09:54.431 --> 00:09:55.971
I mean, way longer than that.

00:09:56.032 --> 00:09:56.591
At some point,

00:09:56.652 --> 00:09:58.352
the actual debt will come up again,

00:09:58.734 --> 00:10:00.794
but we've pushed that can for like,

00:10:00.815 --> 00:10:01.134
you know,

00:10:01.375 --> 00:10:03.355
I love how they kick that can

00:10:03.495 --> 00:10:03.836
down the road.

00:10:03.856 --> 00:10:05.658
Every time the ceiling comes

00:10:05.677 --> 00:10:06.317
up and they're like, oh,

00:10:06.337 --> 00:10:07.078
the government's on a

00:10:07.119 --> 00:10:08.740
shutdown and it's like, raise the limit.

00:10:09.460 --> 00:10:11.000
But the U.S.

00:10:11.041 --> 00:10:13.162
markets are so dominant and

00:10:13.261 --> 00:10:14.802
so much larger than any

00:10:14.842 --> 00:10:16.924
other market in the world by multiple,

00:10:16.965 --> 00:10:19.125
multiple, multiple, multiple X's, right?

00:10:19.806 --> 00:10:22.467
They are so fucking dominant and that...

00:10:22.768 --> 00:10:24.649
capitalism drives fucking

00:10:24.710 --> 00:10:26.091
everything right like you

00:10:26.130 --> 00:10:28.352
take like amazon google

00:10:28.513 --> 00:10:30.634
apple and fucking tesla out

00:10:30.654 --> 00:10:32.275
of the fucking picture no

00:10:32.556 --> 00:10:34.518
it's heavily sure it's

00:10:34.557 --> 00:10:36.099
heavily you take a handful

00:10:36.139 --> 00:10:37.080
of companies out of the

00:10:37.100 --> 00:10:38.100
picture from tech and

00:10:38.140 --> 00:10:39.442
fucking america ain't shit

00:10:39.481 --> 00:10:40.682
anymore totally don't agree

00:10:41.063 --> 00:10:42.184
totally don't know right

00:10:42.585 --> 00:10:45.748
retail uh yeah healthcare

00:10:45.847 --> 00:10:47.788
well that's a problem we create but yeah

00:10:49.528 --> 00:10:52.288
Yeah, I was going to say like that.

00:10:52.548 --> 00:10:54.549
We make our own.

00:10:54.570 --> 00:10:54.950
Pharma,

00:10:55.169 --> 00:10:57.110
still not so much airlines anymore.

00:10:57.692 --> 00:11:00.113
Transportation, no.

00:11:00.153 --> 00:11:02.774
Jacket P Potatoes says,

00:11:02.833 --> 00:11:04.835
you guys starting on time these days.

00:11:04.855 --> 00:11:07.456
I know, we're also surprised.

00:11:08.056 --> 00:11:10.076
And we managed to kick Rama out,

00:11:10.256 --> 00:11:11.716
so there's that.

00:11:11.918 --> 00:11:12.498
I don't know if we

00:11:12.538 --> 00:11:13.758
actually... He's sending me

00:11:13.798 --> 00:11:14.778
nasty messages on Discord.

00:11:15.458 --> 00:11:16.179
Is he?

00:11:16.200 --> 00:11:16.860
Did we actually,

00:11:17.240 --> 00:11:18.441
did we just de-platform his

00:11:18.480 --> 00:11:20.601
commenting or did we actually remove him?

00:11:20.621 --> 00:11:21.663
I guess I put him in timeout,

00:11:21.682 --> 00:11:22.644
which I can't even see how

00:11:22.663 --> 00:11:23.524
to put him in timeout.

00:11:23.604 --> 00:11:24.325
I mean, I'm enjoying it.

00:11:24.445 --> 00:11:24.904
Don't get me wrong.

00:11:25.504 --> 00:11:25.865
He sent me,

00:11:26.525 --> 00:11:27.667
I got gifs of like flexing

00:11:27.706 --> 00:11:29.607
kangaroos and shit.

00:11:29.727 --> 00:11:32.750
I don't see any controls in

00:11:32.789 --> 00:11:33.971
here whatsoever.

00:11:34.350 --> 00:11:36.672
No, I think it's a YouTube.

00:11:36.711 --> 00:11:37.452
It must have just passed it

00:11:37.472 --> 00:11:37.952
down to YouTube.

00:11:37.972 --> 00:11:38.774
I haven't looked on YouTube.

00:11:38.793 --> 00:11:39.333
I couldn't figure it out.

00:11:39.354 --> 00:11:40.414
I think you'd have to log

00:11:40.455 --> 00:11:42.015
into YouTube and figure it out.

00:11:42.135 --> 00:11:42.556
That's all right.

00:11:43.375 --> 00:11:45.876
I mean, how do you even click this button?

00:11:45.917 --> 00:11:48.116
You have to click the three dots menu,

00:11:48.537 --> 00:11:49.437
go down three,

00:11:49.477 --> 00:11:51.477
and then specifically press that button.

00:11:51.798 --> 00:11:53.278
Yeah, well,

00:11:53.938 --> 00:11:54.739
I was seeing if I could hit a

00:11:54.798 --> 00:11:56.298
reply just to that comment,

00:11:56.798 --> 00:11:57.860
and then I was sliding down,

00:11:57.879 --> 00:11:58.600
and then I think I just

00:11:58.779 --> 00:11:59.960
accidentally clicked put user.

00:12:02.260 --> 00:12:02.581
Click.

00:12:02.600 --> 00:12:04.000
Just accidentally.

00:12:04.860 --> 00:12:06.981
I'm glad I had my finger on it.

00:12:07.062 --> 00:12:08.241
I'm glad I didn't hit ban user.

00:12:08.261 --> 00:12:10.243
That would be really when I

00:12:10.263 --> 00:12:10.942
got the gifs in.

00:12:10.982 --> 00:12:11.722
It would have been all over.

00:12:12.559 --> 00:12:13.581
just a hundred percent ended

00:12:13.640 --> 00:12:14.240
his whole career.

00:12:15.022 --> 00:12:17.203
Um, yeah.

00:12:17.244 --> 00:12:20.446
So, um, yeah, I saw the,

00:12:20.466 --> 00:12:22.107
the news I saw about this in the UK,

00:12:22.168 --> 00:12:22.607
obviously,

00:12:22.748 --> 00:12:24.389
cause I'm a fucking whinging

00:12:24.590 --> 00:12:25.210
liberal cunt.

00:12:25.629 --> 00:12:29.033
Um, I'm, I look at this and I'm just like,

00:12:29.072 --> 00:12:29.513
nice one.

00:12:29.793 --> 00:12:30.875
Dreadful.

00:12:31.154 --> 00:12:34.057
Um, circus is back in town, but, uh, yeah,

00:12:34.076 --> 00:12:35.658
I just like the Nazis are back in town.

00:12:35.717 --> 00:12:36.359
Woo hoo.

00:12:36.418 --> 00:12:36.958
Amazing.

00:12:37.019 --> 00:12:39.201
Let's, let's, let's fucking go baby.

00:12:39.421 --> 00:12:40.142
Um, but,

00:12:41.009 --> 00:12:42.230
I'm reminded that, you know,

00:12:42.250 --> 00:12:44.013
the saying that when America sneezes,

00:12:44.052 --> 00:12:46.475
the world gets a, uh, gets a cold.

00:12:47.294 --> 00:12:49.277
And, um, I was thinking like when, uh,

00:12:49.297 --> 00:12:50.937
when America kind of shits its nappy,

00:12:51.458 --> 00:12:52.318
do we all just have to get

00:12:52.359 --> 00:12:53.139
out the baby wipes?

00:12:53.159 --> 00:12:54.660
Is that like the deal here?

00:12:54.681 --> 00:12:57.003
Cause I once got shat on by

00:12:57.043 --> 00:13:01.066
my baby when I was, I had him in a, um,

00:13:01.086 --> 00:13:01.307
you know,

00:13:01.346 --> 00:13:02.847
the carrier on your front and I was,

00:13:02.908 --> 00:13:04.308
it was like rush hour and I

00:13:04.328 --> 00:13:06.071
was on a public bus in the

00:13:06.110 --> 00:13:07.211
center of the city of London.

00:13:07.412 --> 00:13:07.631
Right.

00:13:08.211 --> 00:13:08.493
And, um,

00:13:09.544 --> 00:13:10.485
yeah yeah exactly and we

00:13:10.504 --> 00:13:12.326
were like we we were

00:13:12.346 --> 00:13:13.245
traveling through london

00:13:13.285 --> 00:13:14.426
wearing a white t-shirt

00:13:15.407 --> 00:13:16.667
well we both had a meeting

00:13:16.706 --> 00:13:17.726
right my wife had a meeting

00:13:17.787 --> 00:13:18.827
first then I had a meeting

00:13:18.847 --> 00:13:20.707
so the deal was I'll take

00:13:20.748 --> 00:13:22.388
baby then we do switcheroo

00:13:22.408 --> 00:13:23.989
then I do my thing bish

00:13:24.009 --> 00:13:25.769
bash bosh we both like done

00:13:25.788 --> 00:13:26.929
the meeting we had to do in

00:13:26.950 --> 00:13:28.110
the city on our way through

00:13:28.149 --> 00:13:29.049
while we kind of and then

00:13:29.090 --> 00:13:30.171
we had the half day off

00:13:30.230 --> 00:13:31.051
right we had the afternoon

00:13:31.110 --> 00:13:33.030
off so we like smashed it

00:13:33.091 --> 00:13:35.272
like super efficient and um

00:13:38.168 --> 00:13:39.489
You can't change that shit

00:13:40.009 --> 00:13:41.149
on public transit.

00:13:41.190 --> 00:13:45.172
You are just covered in shit.

00:13:46.153 --> 00:13:47.232
You could be the smartest

00:13:47.352 --> 00:13:48.114
guy in the world.

00:13:48.354 --> 00:13:49.254
You could be the smartest

00:13:49.293 --> 00:13:49.995
guy in the world and it's

00:13:50.014 --> 00:13:50.794
not going to save you.

00:13:51.215 --> 00:13:52.235
You're still covered in shit.

00:13:52.676 --> 00:13:55.398
That's kind of like this situation.

00:13:56.177 --> 00:13:57.099
It doesn't matter what's led

00:13:57.139 --> 00:13:58.078
us to this situation.

00:13:58.119 --> 00:13:59.799
We all thought we had this

00:13:59.820 --> 00:14:00.701
situation covered.

00:14:00.740 --> 00:14:01.500
Turns out we didn't.

00:14:01.541 --> 00:14:02.341
We weren't prepared.

00:14:02.361 --> 00:14:04.863
Did you have an extra shirt or no?

00:14:05.546 --> 00:14:05.826
What's up?

00:14:06.025 --> 00:14:08.606
Do you have an extra shirt?

00:14:08.647 --> 00:14:09.128
Luckily,

00:14:09.207 --> 00:14:10.748
we were away for a couple of days.

00:14:10.908 --> 00:14:12.869
So I had my laundry bag,

00:14:12.889 --> 00:14:14.529
which had like yesterday's T-shirt in it.

00:14:14.669 --> 00:14:15.691
You know, fucking YOLO.

00:14:15.750 --> 00:14:17.932
But I love that transport is

00:14:17.971 --> 00:14:19.312
so fucked in London that

00:14:19.351 --> 00:14:20.852
when you need to go to a meeting,

00:14:21.013 --> 00:14:23.774
you have to go away for multiple days.

00:14:23.833 --> 00:14:24.173
I don't know.

00:14:24.193 --> 00:14:25.394
We were away somewhere else

00:14:25.595 --> 00:14:27.115
and we were traveling back

00:14:27.135 --> 00:14:27.735
through London.

00:14:27.796 --> 00:14:30.017
So we were killing family

00:14:30.037 --> 00:14:31.216
and then we were coming through London.

00:14:31.256 --> 00:14:31.837
So we're just like.

00:14:33.191 --> 00:14:34.758
He's ruined my fucking story.

00:14:35.099 --> 00:14:36.264
Well, I mean,

00:14:36.504 --> 00:14:37.931
Noel and I have been talking because...

00:14:39.134 --> 00:14:40.797
we always joke about one of my kids,

00:14:40.836 --> 00:14:41.878
always the shit up the back.

00:14:41.898 --> 00:14:42.879
That was like always their thing.

00:14:42.918 --> 00:14:44.841
Like they'd be in a carrier or something.

00:14:44.880 --> 00:14:46.261
And then we'd be walking

00:14:46.302 --> 00:14:46.962
somewhere and they'd be

00:14:47.003 --> 00:14:48.663
like a car seat where the car seats in a,

00:14:48.884 --> 00:14:49.924
in a stroller,

00:14:49.945 --> 00:14:51.105
or maybe it's in like a

00:14:51.246 --> 00:14:52.167
grocery cart or something.

00:14:52.587 --> 00:14:53.869
And then you hit that smell and you go,

00:14:54.009 --> 00:14:54.690
oh shit.

00:14:55.149 --> 00:14:56.270
And we like, is it a blowout?

00:14:56.431 --> 00:14:57.292
Tell me it's not a blowout.

00:14:57.351 --> 00:14:58.273
And you pick this kid up and

00:14:58.312 --> 00:14:59.193
it's like all the way up.

00:14:59.354 --> 00:15:00.674
Like it's touching the back of their neck.

00:15:00.695 --> 00:15:00.855
Right.

00:15:01.296 --> 00:15:02.817
And you go, how the fuck did this happen?

00:15:02.836 --> 00:15:03.457
And we're in the middle of

00:15:03.498 --> 00:15:04.099
this type of thing.

00:15:04.698 --> 00:15:05.419
And then Nell sent me a

00:15:05.460 --> 00:15:06.179
picture because he had,

00:15:07.240 --> 00:15:09.643
his son had a front blowout,

00:15:09.722 --> 00:15:11.264
which was totally reminiscent, right?

00:15:11.283 --> 00:15:12.325
That like up the belly

00:15:12.365 --> 00:15:12.904
button and everything.

00:15:13.184 --> 00:15:14.005
You fill it up, right?

00:15:14.706 --> 00:15:17.207
And because that same story,

00:15:17.548 --> 00:15:18.609
I remember that happening

00:15:18.929 --> 00:15:20.571
in like a Target and I had

00:15:20.591 --> 00:15:21.831
to buy a shirt in Target.

00:15:23.932 --> 00:15:25.715
I had a carrier on and he

00:15:25.754 --> 00:15:26.855
just totally blew it out.

00:15:26.875 --> 00:15:27.956
It was like, I had to cover it.

00:15:27.975 --> 00:15:28.817
I literally went and bought

00:15:28.856 --> 00:15:30.817
a shirt and then I had to,

00:15:30.899 --> 00:15:33.159
I just took mine, shoved it somewhere.

00:15:33.640 --> 00:15:33.961
Same thing.

00:15:35.307 --> 00:15:38.489
My partner was feeding the baby,

00:15:39.269 --> 00:15:42.490
and his little belly was getting big,

00:15:43.292 --> 00:15:45.812
and she loosened the nappy.

00:15:47.173 --> 00:15:50.294
No, no, no, no.

00:15:50.495 --> 00:15:51.096
No, no, no, no.

00:15:51.155 --> 00:15:51.615
Don't do that.

00:15:54.645 --> 00:15:56.067
That thing is dying for a reason.

00:15:56.086 --> 00:15:58.629
I gotta do it.

00:15:58.669 --> 00:16:00.370
That's gotta be like a full fucking,

00:16:01.211 --> 00:16:02.131
you know, full seal.

00:16:02.152 --> 00:16:02.972
It's gotta be squared away.

00:16:02.993 --> 00:16:07.856
You have to tape that shit on there.

00:16:07.917 --> 00:16:09.498
It's like rigging on like a

00:16:09.538 --> 00:16:12.360
Napoleonic era sailing ship, right?

00:16:12.399 --> 00:16:14.022
If that isn't squared away,

00:16:14.442 --> 00:16:15.602
if it's not sorted out,

00:16:16.082 --> 00:16:16.884
people are gonna die.

00:16:16.923 --> 00:16:18.985
People are going to die and

00:16:19.025 --> 00:16:20.506
you are gonna walk the fucking plank.

00:16:20.626 --> 00:16:21.528
That's what's gonna happen.

00:16:22.488 --> 00:16:23.408
Analogy's not perfect.

00:16:23.428 --> 00:16:24.448
Too much Master and Commander.

00:16:25.029 --> 00:16:26.009
It's a little bit too much

00:16:26.049 --> 00:16:26.671
Master and Commander.

00:16:27.892 --> 00:16:30.072
We got more shots yesterday too.

00:16:30.413 --> 00:16:31.673
We got some more of that

00:16:32.153 --> 00:16:32.995
when we went in for our

00:16:33.034 --> 00:16:33.894
five G maintenance.

00:16:36.197 --> 00:16:37.216
So you've got the brain chip?

00:16:38.057 --> 00:16:40.399
Yeah, he's fucking fully cyborg up now.

00:16:40.619 --> 00:16:41.620
He loves that shit, man.

00:16:41.639 --> 00:16:43.301
He goes in there, he gets those things,

00:16:43.321 --> 00:16:44.301
he has his little squeal,

00:16:44.501 --> 00:16:45.682
and then he just sleeps the

00:16:45.701 --> 00:16:49.063
rest of the day, every time.

00:16:49.283 --> 00:16:50.004
When they're a bit older,

00:16:50.044 --> 00:16:51.105
you get the full betrayal.

00:16:51.285 --> 00:16:51.625
You get the

00:16:52.283 --> 00:16:54.264
But you brought me here.

00:16:54.304 --> 00:16:55.424
You're supposed to be my protector.

00:16:55.445 --> 00:16:57.684
Why have you done this to me?

00:16:57.905 --> 00:16:58.285
Oh, yeah.

00:16:58.326 --> 00:17:01.005
Why?

00:17:01.025 --> 00:17:02.927
They love that fucking Panadol shit, man.

00:17:03.246 --> 00:17:03.726
They're like, oh,

00:17:03.767 --> 00:17:04.787
if his temperature goes up,

00:17:04.826 --> 00:17:05.567
give him Panadol.

00:17:05.728 --> 00:17:07.607
I'm like, how the fuck does that work?

00:17:08.327 --> 00:17:08.528
One.

00:17:08.888 --> 00:17:10.409
And two, he loves that shit.

00:17:10.449 --> 00:17:11.249
He fucking.

00:17:11.269 --> 00:17:11.628
What is it?

00:17:11.648 --> 00:17:13.029
It's like Panadol Calpol.

00:17:13.170 --> 00:17:13.849
Is that Calpol?

00:17:14.609 --> 00:17:17.330
It's like, you know, the paracetamol.

00:17:18.654 --> 00:17:20.016
The oral is paracetamol.

00:17:20.036 --> 00:17:22.176
It's like in the fucking tube.

00:17:22.676 --> 00:17:24.637
Stick it in his mouth and he's... Oh,

00:17:24.678 --> 00:17:24.877
really?

00:17:26.338 --> 00:17:26.818
Yeah.

00:17:26.838 --> 00:17:27.659
It's like the painkiller.

00:17:27.919 --> 00:17:28.680
Baby painkiller.

00:17:29.460 --> 00:17:31.260
Like an ibuprofen, but lighter,

00:17:31.280 --> 00:17:33.162
I'm guessing.

00:17:33.221 --> 00:17:33.882
Well, you know,

00:17:34.442 --> 00:17:36.303
do you have paracetamol over there?

00:17:36.363 --> 00:17:37.644
We've got ibuprofen and paracetamol.

00:17:37.723 --> 00:17:38.505
Oh, yeah.

00:17:38.625 --> 00:17:41.205
Panadol is the Australian

00:17:41.246 --> 00:17:42.526
brand name for cowpaw.

00:17:43.426 --> 00:17:43.866
For what?

00:17:44.227 --> 00:17:45.188
Cowpat?

00:17:45.208 --> 00:17:45.627
Cowpaw.

00:17:47.307 --> 00:17:48.448
is that like the uk brand

00:17:48.468 --> 00:17:51.308
name or paracetamol child

00:17:51.568 --> 00:17:53.670
child paracetamol cal poll

00:17:53.730 --> 00:17:54.430
I don't know what's cal

00:17:54.450 --> 00:17:59.730
yeah I guess it must be

00:17:59.851 --> 00:18:00.671
child like that would be an

00:18:00.871 --> 00:18:01.391
o wouldn't it I don't even

00:18:01.411 --> 00:18:03.771
know why is it called I

00:18:03.791 --> 00:18:04.811
feel like it's his first

00:18:04.892 --> 00:18:05.771
introduction to like

00:18:05.811 --> 00:18:06.692
something sweet too because

00:18:06.711 --> 00:18:08.333
it's got a berry flavor it

00:18:08.353 --> 00:18:09.133
will be it will be the

00:18:09.192 --> 00:18:10.073
sweetest thing they've ever

00:18:10.113 --> 00:18:11.413
tasted unless they go mad

00:18:11.452 --> 00:18:14.574
for it fucking loves it

00:18:16.761 --> 00:18:17.201
Oh, I see.

00:18:17.301 --> 00:18:18.163
So paracetamol here in the

00:18:18.222 --> 00:18:20.242
US is acetaminophen, which is Tylenol.

00:18:20.462 --> 00:18:20.702
Okay.

00:18:20.982 --> 00:18:21.782
That's acetaminophen.

00:18:21.803 --> 00:18:22.403
That's what we call it.

00:18:23.983 --> 00:18:24.663
Got it.

00:18:24.683 --> 00:18:25.344
That makes sense.

00:18:25.364 --> 00:18:26.963
So like a baby Tylenol type of thing.

00:18:26.983 --> 00:18:27.263
Yeah.

00:18:27.324 --> 00:18:28.164
Or it's like a suspension.

00:18:28.204 --> 00:18:29.204
They put like grape or

00:18:29.244 --> 00:18:29.944
something else like that.

00:18:29.964 --> 00:18:31.184
They just suck it down with

00:18:31.305 --> 00:18:32.025
a hundred percent sugar.

00:18:32.526 --> 00:18:33.165
Just like you're sucking,

00:18:33.326 --> 00:18:34.486
like just your coffee, like right now.

00:18:34.506 --> 00:18:37.807
And just get their first hit of the cane.

00:18:41.519 --> 00:18:42.699
Let's get a little touch of that cane.

00:18:42.838 --> 00:18:44.259
I don't have sugar in my coffee, man.

00:18:44.318 --> 00:18:46.079
It's fucking shit.

00:18:46.220 --> 00:18:50.500
I used to be like a two-sugar guy.

00:18:50.740 --> 00:18:51.780
Get that raw sugar in there.

00:18:52.621 --> 00:18:56.141
And man, I don't think I could do it now.

00:18:57.981 --> 00:18:58.961
The sugar in the coffee.

00:18:59.122 --> 00:19:00.842
It'd just blow my fucking hair off.

00:19:01.862 --> 00:19:03.083
You'd be blown away.

00:19:03.843 --> 00:19:04.682
Blown.

00:19:05.143 --> 00:19:05.323
Yeah,

00:19:05.442 --> 00:19:07.282
it turns out it's just the company

00:19:07.643 --> 00:19:08.663
who came up with it in the

00:19:08.683 --> 00:19:10.804
UK was called Carlnick.

00:19:11.527 --> 00:19:13.450
That was the name of the paracetamol.

00:19:13.490 --> 00:19:14.391
That was the name of the company,

00:19:14.431 --> 00:19:15.232
and they were bought out by

00:19:15.252 --> 00:19:16.173
GlaxoSmithKline.

00:19:16.654 --> 00:19:18.657
And they just went, Calmic?

00:19:18.837 --> 00:19:19.338
Cal?

00:19:19.659 --> 00:19:20.560
And what is it?

00:19:20.601 --> 00:19:21.342
Paracetamol?

00:19:22.462 --> 00:19:22.884
That'll do it.

00:19:22.903 --> 00:19:24.586
Calpol?

00:19:24.767 --> 00:19:25.228
Calpol?

00:19:25.788 --> 00:19:26.589
Calpol?

00:19:26.690 --> 00:19:27.270
Calpol?

00:19:29.166 --> 00:19:32.851
smashed it I mean like all

00:19:32.871 --> 00:19:34.252
of those farmer names just

00:19:34.292 --> 00:19:36.455
sort of sound like someone

00:19:36.476 --> 00:19:38.038
just made that shit up and

00:19:38.057 --> 00:19:39.078
they're like I mean

00:19:39.098 --> 00:19:40.240
somebody probably literally

00:19:40.279 --> 00:19:41.501
did well they were probably

00:19:41.521 --> 00:19:42.202
told by their boss like

00:19:42.242 --> 00:19:43.483
come up with a name you got

00:19:43.523 --> 00:19:46.688
till now go yeah we're

00:19:46.708 --> 00:19:48.069
going to market we need this now

00:19:48.734 --> 00:19:49.296
Yeah, a hundred percent.

00:19:49.355 --> 00:19:51.137
It's just, it's just a lab worker.

00:19:51.317 --> 00:19:52.559
It's just some lab worker on

00:19:52.579 --> 00:19:54.000
the Cheshire plane in the

00:19:54.060 --> 00:19:55.963
nineteen sixties going like, oh shit,

00:19:56.183 --> 00:19:57.605
it's paracetamol for children.

00:19:58.086 --> 00:20:02.211
Calm, calm, calm, calm pole.

00:20:02.230 --> 00:20:02.310
Yeah.

00:20:02.330 --> 00:20:04.192
But then how did they come

00:20:04.252 --> 00:20:05.934
up with the paracetamol as well?

00:20:05.954 --> 00:20:06.316
It's like,

00:20:07.175 --> 00:20:07.316
Well,

00:20:07.336 --> 00:20:09.817
presumably paracetamol is related to it.

00:20:09.837 --> 00:20:11.577
People would just be making up words left,

00:20:11.617 --> 00:20:12.638
right, and center.

00:20:12.659 --> 00:20:12.858
Well,

00:20:12.999 --> 00:20:14.700
what does paracetamol take its name from?

00:20:14.960 --> 00:20:15.799
Is it the active ingredient?

00:20:15.819 --> 00:20:15.859
No,

00:20:15.880 --> 00:20:18.221
I thought acetaminophen would be based

00:20:18.260 --> 00:20:19.122
off the active ingredient.

00:20:21.623 --> 00:20:23.042
Well, we have Sudafed as well.

00:20:23.784 --> 00:20:24.324
We do.

00:20:27.585 --> 00:20:29.645
So a lot of my organization

00:20:29.705 --> 00:20:31.747
these days is via post-it

00:20:31.767 --> 00:20:33.847
notes on my monitor.

00:20:33.867 --> 00:20:35.108
Yeah, same.

00:20:36.449 --> 00:20:37.509
Which means that work only

00:20:37.529 --> 00:20:40.931
gets done when I'm at my monitor.

00:20:41.471 --> 00:20:45.233
Now, I've just noticed the generic name.

00:20:46.074 --> 00:20:48.055
Oh, okay.

00:20:48.214 --> 00:20:49.135
That's somebody else's brand name.

00:20:50.155 --> 00:20:51.136
I've just noticed the

00:20:51.196 --> 00:20:54.298
post-it note with the word levy on it.

00:20:55.419 --> 00:20:55.699
Levy?

00:20:55.739 --> 00:20:56.598
No other context.

00:20:57.400 --> 00:21:00.340
No idea what that is, but that's done.

00:21:03.951 --> 00:21:05.711
acetaminophen that's my

00:21:05.751 --> 00:21:07.354
whole fucking life okay

00:21:07.374 --> 00:21:09.595
little things the entire

00:21:09.635 --> 00:21:11.176
world calls it paracetamol

00:21:11.757 --> 00:21:13.157
except for in america

00:21:13.778 --> 00:21:16.560
canada japan south korea columbia

00:21:17.204 --> 00:21:17.984
And Venezuela,

00:21:18.105 --> 00:21:20.026
where it is called acetaminophen.

00:21:20.365 --> 00:21:21.086
Acetaminophen.

00:21:21.586 --> 00:21:22.406
Acetaminophen.

00:21:22.527 --> 00:21:24.527
It is a non-opioid analgesic

00:21:24.826 --> 00:21:26.788
and antityprotic agent.

00:21:26.827 --> 00:21:28.367
I feel like the phrase

00:21:28.448 --> 00:21:29.308
really hung up on this

00:21:29.328 --> 00:21:30.189
fucking paracetamol.

00:21:30.209 --> 00:21:32.230
It's kind of interesting, isn't it?

00:21:32.289 --> 00:21:32.910
It is a little interesting.

00:21:32.970 --> 00:21:33.630
I didn't know it was called

00:21:33.650 --> 00:21:34.089
something different.

00:21:34.109 --> 00:21:36.131
I didn't know what you were talking about.

00:21:36.211 --> 00:21:37.131
And then, yeah, Tylenol,

00:21:37.171 --> 00:21:38.912
Palinol are the brand names.

00:21:39.132 --> 00:21:39.571
Cool.

00:21:40.132 --> 00:21:41.833
Slightly reduces fever,

00:21:41.893 --> 00:21:43.313
but it is inferior to

00:21:43.452 --> 00:21:45.173
ibuprofen in that respect.

00:21:45.354 --> 00:21:45.394
Oh.

00:21:46.673 --> 00:21:49.434
Can you give ibuprofen to babies, though?

00:21:49.575 --> 00:21:50.796
Probably not.

00:21:50.816 --> 00:21:50.955
No.

00:21:51.415 --> 00:21:52.057
No, you can't.

00:21:52.336 --> 00:21:53.557
You can't.

00:21:53.577 --> 00:21:54.258
There's a minimum age.

00:21:54.337 --> 00:21:55.019
I forget what that age is.

00:21:55.038 --> 00:21:56.019
It's about six months.

00:21:56.059 --> 00:21:56.720
It's about six months,

00:21:56.740 --> 00:21:58.780
and then you give them baby ibuprofen,

00:21:58.800 --> 00:22:00.583
which is super dilute, I think.

00:22:00.942 --> 00:22:01.663
Yeah.

00:22:01.682 --> 00:22:03.884
When our kids have fears,

00:22:03.924 --> 00:22:10.189
one of ours had pneumonia,

00:22:10.450 --> 00:22:11.549
and then they bounce back

00:22:11.569 --> 00:22:12.351
and forth like you do.

00:22:13.749 --> 00:22:14.028
And they don't,

00:22:14.048 --> 00:22:14.888
they don't interact with each other.

00:22:14.909 --> 00:22:15.749
So you can do like every

00:22:15.788 --> 00:22:16.670
three hours you can bounce

00:22:16.710 --> 00:22:17.109
back and forth.

00:22:17.130 --> 00:22:18.089
So you have a six hour break,

00:22:18.109 --> 00:22:19.910
which is really effective.

00:22:19.930 --> 00:22:21.049
Like that shit works when

00:22:21.069 --> 00:22:22.190
they've got like RSD or

00:22:22.230 --> 00:22:23.010
some shit and you're just

00:22:23.070 --> 00:22:24.671
like fucked and you need to

00:22:24.691 --> 00:22:25.211
give them something.

00:22:25.570 --> 00:22:26.010
Also,

00:22:26.070 --> 00:22:27.290
like you've got to pray that those

00:22:27.330 --> 00:22:28.932
teeth start coming in after

00:22:29.051 --> 00:22:30.531
you can give them the, uh,

00:22:30.551 --> 00:22:31.291
the double dose.

00:22:31.432 --> 00:22:32.892
Cause then that first,

00:22:32.951 --> 00:22:36.173
that first tooth or two is like, yeah,

00:22:36.192 --> 00:22:36.853
that's when you're double

00:22:36.873 --> 00:22:38.673
dosing every three hours.

00:22:40.094 --> 00:22:41.473
It hurts, which it does.

00:22:42.155 --> 00:22:43.036
And now they sell, they sell,

00:22:43.076 --> 00:22:44.896
actually sell Advil dual action,

00:22:44.916 --> 00:22:46.298
which is Advil and acetaminophen,

00:22:46.317 --> 00:22:47.357
which is ibuprofen,

00:22:47.417 --> 00:22:48.898
acetaminophen mixed in one pill,

00:22:49.419 --> 00:22:52.901
which I take for hangovers,

00:22:52.941 --> 00:22:53.881
which is really effective too.

00:22:53.941 --> 00:22:54.441
That stuff's good.

00:22:55.082 --> 00:22:55.622
Dual action.

00:22:55.902 --> 00:22:56.942
It's super effective.

00:22:58.682 --> 00:23:00.223
It's not just for hangovers.

00:23:00.263 --> 00:23:01.104
I mean, just in case.

00:23:01.124 --> 00:23:03.805
Cool.

00:23:03.825 --> 00:23:03.944
Good.

00:23:03.964 --> 00:23:04.865
There we go.

00:23:04.905 --> 00:23:05.066
Yeah.

00:23:05.105 --> 00:23:05.445
Big deal.

00:23:06.578 --> 00:23:09.019
So what would you prescribe?

00:23:09.059 --> 00:23:10.840
Will the Advil dual action

00:23:10.921 --> 00:23:12.642
work for America's current hangover?

00:23:12.662 --> 00:23:13.363
I don't know.

00:23:13.682 --> 00:23:14.963
I did try some this morning.

00:23:16.183 --> 00:23:17.664
They drank a little bit too much.

00:23:17.884 --> 00:23:18.685
To no effect.

00:23:18.726 --> 00:23:19.665
They got a bit carried away.

00:23:19.685 --> 00:23:20.207
To no effect.

00:23:20.646 --> 00:23:22.948
Yep.

00:23:23.008 --> 00:23:23.808
Yeah, boys will be boys.

00:23:23.868 --> 00:23:25.009
But I was reading a thing

00:23:25.028 --> 00:23:26.049
about how a Trump

00:23:26.089 --> 00:23:27.049
presidency is going to cost

00:23:27.069 --> 00:23:29.152
the UK economy five percent of GDP.

00:23:29.192 --> 00:23:29.632
It's worst.

00:23:29.711 --> 00:23:30.311
And I'm kind of like,

00:23:30.332 --> 00:23:31.212
we don't have five percent.

00:23:31.232 --> 00:23:32.212
Really?

00:23:32.913 --> 00:23:34.193
Can you just like not?

00:23:34.734 --> 00:23:35.275
Is it coming here?

00:23:36.586 --> 00:23:37.287
What's that?

00:23:37.406 --> 00:23:38.386
Is that five percent coming here?

00:23:39.508 --> 00:23:39.647
No,

00:23:39.907 --> 00:23:42.288
I think I think you just lose it

00:23:42.508 --> 00:23:43.548
because that's how

00:23:43.567 --> 00:23:45.009
protectionism works is that

00:23:45.108 --> 00:23:47.128
like everybody loses,

00:23:48.730 --> 00:23:49.450
especially when you're like

00:23:49.470 --> 00:23:51.029
the big when you're the big dog.

00:23:51.049 --> 00:23:52.170
Like what happens is like we

00:23:52.190 --> 00:23:52.930
kind of all lose.

00:23:52.970 --> 00:23:54.990
But but, you know, if your economy,

00:23:55.050 --> 00:23:55.911
if you're an economy that

00:23:55.951 --> 00:23:57.590
has just shot itself in the

00:23:57.631 --> 00:23:58.892
head with Brexit like six

00:23:58.932 --> 00:24:01.011
years ago and has is now

00:24:01.051 --> 00:24:02.472
just floundering in the

00:24:02.532 --> 00:24:04.313
where they now file, you

00:24:05.151 --> 00:24:06.852
like it's not I believe

00:24:07.093 --> 00:24:08.173
traditionally helpful to

00:24:08.213 --> 00:24:09.273
lose another four percent

00:24:09.294 --> 00:24:11.056
of your exports uh sorry

00:24:11.096 --> 00:24:12.537
four percent of your gdp

00:24:12.557 --> 00:24:13.678
that is assigned to exports

00:24:13.698 --> 00:24:15.920
to a foreign market I I

00:24:15.960 --> 00:24:21.644
hear that's like bad um not

00:24:21.865 --> 00:24:24.426
traditionally helpful not

00:24:24.467 --> 00:24:25.366
traditionally known to be a

00:24:25.406 --> 00:24:26.347
helpful a helpful

00:24:26.387 --> 00:24:28.390
happenstance the double h

00:24:28.430 --> 00:24:29.990
helpful happenstance how is

00:24:30.010 --> 00:24:30.951
that going anyway

00:24:32.025 --> 00:24:32.986
How is that Brexit thing going?

00:24:33.385 --> 00:24:33.625
Well,

00:24:34.146 --> 00:24:38.250
I gather every single statistical

00:24:38.410 --> 00:24:39.530
measure from an official

00:24:39.570 --> 00:24:41.633
body that publishes decent

00:24:43.454 --> 00:24:45.876
analysis says that, yep, it was bad,

00:24:46.076 --> 00:24:47.038
it turns out.

00:24:47.258 --> 00:24:48.138
Isolating yourself from your

00:24:48.179 --> 00:24:49.380
largest market is

00:24:50.339 --> 00:24:53.103
incredibly counterproductive for business,

00:24:53.343 --> 00:24:55.244
and it's had a massive impact on

00:24:56.548 --> 00:24:57.911
An already stagnant labor

00:24:57.951 --> 00:24:59.612
market and real wage growth

00:24:59.731 --> 00:25:01.314
and has cemented a number

00:25:01.354 --> 00:25:03.675
of bad trends for UK productivity,

00:25:04.316 --> 00:25:05.257
as well as compounding

00:25:06.417 --> 00:25:07.598
budget deficit problems,

00:25:08.180 --> 00:25:08.960
which have only just come

00:25:08.980 --> 00:25:10.060
to light with change of government,

00:25:10.102 --> 00:25:11.343
where they found like a

00:25:11.383 --> 00:25:12.703
twenty billion pound black

00:25:12.723 --> 00:25:13.664
hole in the finances.

00:25:14.105 --> 00:25:15.665
Um, so it turned out we were,

00:25:15.746 --> 00:25:16.726
we were even worse off than

00:25:16.746 --> 00:25:18.705
we thought we were, which is like top.

00:25:18.967 --> 00:25:19.946
That's, that's totally great.

00:25:20.547 --> 00:25:21.287
Um,

00:25:21.386 --> 00:25:22.587
I think the important piece is you just

00:25:22.647 --> 00:25:22.867
keep,

00:25:23.688 --> 00:25:25.508
you just keep blaming whoever's

00:25:25.548 --> 00:25:26.308
currently in charge, right?

00:25:26.328 --> 00:25:27.328
You don't actually blame the problem.

00:25:27.348 --> 00:25:28.709
You just blame whoever's.

00:25:29.250 --> 00:25:29.430
Yeah.

00:25:29.690 --> 00:25:31.529
I think the problem is, yeah, exactly.

00:25:31.630 --> 00:25:32.490
What we really need to do is

00:25:32.510 --> 00:25:33.230
like kind of double down

00:25:33.270 --> 00:25:34.790
and not identifying that we

00:25:34.830 --> 00:25:36.092
made like a big mistake

00:25:37.771 --> 00:25:38.352
because it's really

00:25:38.372 --> 00:25:39.413
important to just like not

00:25:39.452 --> 00:25:42.012
lose face or something.

00:25:42.634 --> 00:25:43.134
I don't really,

00:25:45.051 --> 00:25:46.731
I don't really understand, but that's,

00:25:46.813 --> 00:25:48.292
I gather, what it's all about.

00:25:48.333 --> 00:25:49.153
You can't tell,

00:25:49.753 --> 00:25:50.914
even though the swing vote

00:25:50.954 --> 00:25:51.595
of people who actually

00:25:51.615 --> 00:25:53.355
voted for it are now statistically dead.

00:25:54.296 --> 00:25:56.458
I gather that in public, this is true,

00:25:56.538 --> 00:25:57.518
it's hugely demographic

00:25:57.857 --> 00:25:59.398
shifted towards older people.

00:25:59.818 --> 00:26:00.640
Working age people didn't

00:26:00.660 --> 00:26:01.740
want it because we have jobs,

00:26:01.859 --> 00:26:02.320
which we now

00:26:03.425 --> 00:26:04.747
whatever, been screwed over by.

00:26:05.106 --> 00:26:06.768
Statistically dead.

00:26:08.068 --> 00:26:09.951
It's true.

00:26:10.070 --> 00:26:10.911
There was this crazy piece

00:26:10.951 --> 00:26:13.113
of statistical research put

00:26:13.153 --> 00:26:13.972
out by the London School of

00:26:14.012 --> 00:26:15.634
Economics about six months

00:26:15.693 --> 00:26:16.535
after the referendum where

00:26:16.555 --> 00:26:17.234
they basically did,

00:26:17.996 --> 00:26:19.277
based on trend analysis, they were like,

00:26:19.356 --> 00:26:19.557
oh yeah,

00:26:19.576 --> 00:26:21.498
if you'd held the referendum six

00:26:21.538 --> 00:26:22.878
months later on exactly the

00:26:22.919 --> 00:26:24.579
same voting participation and turnout,

00:26:24.880 --> 00:26:25.661
it would have gone the

00:26:25.721 --> 00:26:27.061
other way because it

00:26:27.281 --> 00:26:30.203
literally relied on over-seventy-fives,

00:26:30.304 --> 00:26:32.144
I think, turning out to vote,

00:26:32.265 --> 00:26:32.865
and you're just like,

00:26:33.766 --> 00:26:34.146
cool.

00:26:34.467 --> 00:26:35.847
We literally got beaten by

00:26:35.907 --> 00:26:38.348
dead people who've decided

00:26:38.388 --> 00:26:39.170
the next ten years of

00:26:39.210 --> 00:26:42.311
economic policy for this country.

00:26:43.752 --> 00:26:44.792
Who literally would not even,

00:26:45.493 --> 00:26:46.594
whether we're successful or not,

00:26:46.614 --> 00:26:49.195
will not see a change in their lifetime.

00:26:49.316 --> 00:26:49.476
No,

00:26:49.635 --> 00:26:50.977
and whose pensions are unaffected

00:26:51.017 --> 00:26:52.317
because they typically are

00:26:52.357 --> 00:26:53.178
on like final salary

00:26:53.218 --> 00:26:53.858
pensions or whatever.

00:26:53.898 --> 00:26:55.079
So, you know,

00:26:55.099 --> 00:26:56.200
it's just like one of those lovely,

00:26:56.319 --> 00:26:58.422
lovely things where you get

00:26:58.461 --> 00:26:59.501
shafted and then you get

00:26:59.541 --> 00:27:00.103
told that you're the

00:27:00.143 --> 00:27:01.903
problem and you have to pay to fix it and

00:27:03.615 --> 00:27:05.236
blah blah blah so

00:27:05.256 --> 00:27:06.376
corporation tax for small

00:27:06.616 --> 00:27:07.457
companies has gone up a

00:27:07.477 --> 00:27:08.538
couple of times even under

00:27:08.557 --> 00:27:09.577
a conservative government

00:27:09.858 --> 00:27:11.819
and which you know fine if

00:27:11.859 --> 00:27:12.420
it's going to be used to

00:27:12.440 --> 00:27:13.840
fix the country but you are

00:27:13.881 --> 00:27:16.481
kind of like well it would

00:27:16.501 --> 00:27:17.502
have been nice if we'd done

00:27:17.542 --> 00:27:19.183
this from a strong position

00:27:19.304 --> 00:27:20.203
and actually fix some

00:27:20.223 --> 00:27:21.065
problems rather than just

00:27:21.105 --> 00:27:23.086
plug the hole that you guys

00:27:23.145 --> 00:27:24.567
made by voting for the old

00:27:24.626 --> 00:27:25.708
people dumb idea yeah

00:27:26.885 --> 00:27:29.188
then you know um that and

00:27:29.208 --> 00:27:30.249
they're wasting kind of ten

00:27:30.269 --> 00:27:31.250
years of economic growth

00:27:31.269 --> 00:27:35.073
which we now haven't had so

00:27:35.113 --> 00:27:37.255
sweet um however in the

00:27:37.275 --> 00:27:38.155
most recent budget they

00:27:38.296 --> 00:27:39.576
they have finally decided

00:27:39.636 --> 00:27:41.618
to put vat on private

00:27:41.638 --> 00:27:43.099
school fees which is a

00:27:43.160 --> 00:27:45.561
policy so awesome that it

00:27:45.622 --> 00:27:46.983
literally makes me hard so

00:27:47.144 --> 00:27:48.984
there you go um they put

00:27:49.125 --> 00:27:52.808
vat on private school fees okay

00:27:54.186 --> 00:27:55.008
So in this country,

00:27:55.468 --> 00:27:56.288
that was not there before.

00:27:57.088 --> 00:27:57.269
Yeah.

00:27:57.329 --> 00:27:58.250
So in this country, basically,

00:27:58.289 --> 00:27:59.111
like private schools are a

00:27:59.151 --> 00:28:00.751
way of like the upper class

00:28:00.771 --> 00:28:01.653
staying in power, right?

00:28:01.673 --> 00:28:04.015
They're set up as charities.

00:28:04.894 --> 00:28:05.675
It means they're very tax

00:28:05.996 --> 00:28:07.037
advantaged if you already

00:28:07.057 --> 00:28:08.557
have a lot of money, particularly wealth,

00:28:08.617 --> 00:28:09.739
because wealth is also very

00:28:09.778 --> 00:28:10.500
tax advantaged,

00:28:11.240 --> 00:28:12.361
especially inherited wealth.

00:28:13.582 --> 00:28:14.301
And you don't pay VAT,

00:28:14.382 --> 00:28:15.982
you don't pay sales tax on

00:28:16.323 --> 00:28:17.064
paying for private schools.

00:28:17.144 --> 00:28:18.423
Not only is it tax advantage,

00:28:18.463 --> 00:28:19.444
not only is it potentially

00:28:19.464 --> 00:28:20.345
a write-off depending on

00:28:20.424 --> 00:28:21.224
your circumstances,

00:28:21.285 --> 00:28:23.086
but also you don't pay,

00:28:24.105 --> 00:28:25.366
the school doesn't have to

00:28:25.406 --> 00:28:26.547
charge you sales tax, right?

00:28:27.448 --> 00:28:29.409
So the government loses out on,

00:28:29.769 --> 00:28:31.088
because it's only like

00:28:31.128 --> 00:28:32.029
three percent of people,

00:28:32.130 --> 00:28:33.410
like something like that,

00:28:34.151 --> 00:28:34.931
the top three percent of

00:28:34.951 --> 00:28:36.132
people that send their kids

00:28:36.152 --> 00:28:36.771
to private school,

00:28:37.372 --> 00:28:38.531
but that is like a quite

00:28:38.571 --> 00:28:39.393
significant amount of money.

00:28:39.432 --> 00:28:40.373
Like I think average private

00:28:40.393 --> 00:28:41.512
school fees are probably about twenty.

00:28:42.032 --> 00:28:42.772
When I was a kid,

00:28:42.792 --> 00:28:43.453
they were like twenty two

00:28:43.473 --> 00:28:44.213
thousand pounds a year or

00:28:44.233 --> 00:28:44.953
something for a lot of these.

00:28:44.993 --> 00:28:46.653
So you're twenty percent of

00:28:46.693 --> 00:28:47.654
twenty two thousand pounds a year.

00:28:47.734 --> 00:28:49.015
That's a lot of money going

00:28:49.055 --> 00:28:51.194
to the exchequer potentially, you know,

00:28:51.214 --> 00:28:52.276
to pay for things like

00:28:52.736 --> 00:28:54.096
other people's schools, you know,

00:28:54.256 --> 00:28:55.556
just what are they?

00:28:56.017 --> 00:28:57.217
So that was never charged

00:28:57.297 --> 00:28:58.156
because it wasn't.

00:28:58.376 --> 00:28:59.517
And now it is going to be charged.

00:29:00.077 --> 00:29:01.917
And people who have a lot of

00:29:01.958 --> 00:29:02.657
money and send their kids

00:29:02.698 --> 00:29:04.278
private school have lost their minds.

00:29:04.419 --> 00:29:05.019
And people who

00:29:06.027 --> 00:29:07.268
went to state school and

00:29:07.347 --> 00:29:07.989
don't plan on sending their

00:29:08.028 --> 00:29:08.990
kids to private school and

00:29:09.069 --> 00:29:10.010
don't give a shit find it

00:29:10.030 --> 00:29:11.792
very funny and so um

00:29:11.992 --> 00:29:13.374
because I'm like I you know

00:29:13.653 --> 00:29:14.796
I have to pay sales tax on

00:29:14.855 --> 00:29:15.957
a fucking toothbrush I

00:29:15.977 --> 00:29:16.616
think you guys should have

00:29:16.636 --> 00:29:17.858
to pay sales tax on private

00:29:17.898 --> 00:29:19.921
education um thank you so

00:29:19.941 --> 00:29:21.182
that's great and what what

00:29:21.201 --> 00:29:22.222
percentage of what do you

00:29:22.242 --> 00:29:22.883
know what the percentage

00:29:23.124 --> 00:29:23.683
actually go to private

00:29:23.703 --> 00:29:26.126
schools versus four it's four I think

00:29:26.920 --> 00:29:29.121
four percent all right so

00:29:29.161 --> 00:29:30.740
it's it's pretty small but

00:29:30.800 --> 00:29:32.701
still and you know if you

00:29:32.721 --> 00:29:33.942
don't want to do it because

00:29:33.982 --> 00:29:34.923
it's you know you think

00:29:34.962 --> 00:29:35.863
it's not a good so good a

00:29:35.923 --> 00:29:37.284
deal now then you know you

00:29:37.304 --> 00:29:38.304
can just go to state school

00:29:39.003 --> 00:29:41.905
um right that's cool it's

00:29:41.945 --> 00:29:42.665
cool that's an option

00:29:43.637 --> 00:29:44.298
I guess they're taxier.

00:29:44.318 --> 00:29:45.640
I mean, it would, I mean, I don't know if,

00:29:45.660 --> 00:29:46.259
I don't know if tuition,

00:29:46.279 --> 00:29:46.921
I don't know if there's a

00:29:46.961 --> 00:29:48.122
sales tax on tuition.

00:29:48.761 --> 00:29:49.522
I should actually look at that.

00:29:49.542 --> 00:29:50.884
I don't think so for a private school.

00:29:50.903 --> 00:29:52.244
I don't think there'd be sales tax on it,

00:29:52.285 --> 00:29:53.546
but I mean, obviously it's post income,

00:29:53.727 --> 00:29:54.686
it's post income tax.

00:29:54.988 --> 00:29:56.429
So the income's being taxed.

00:29:56.449 --> 00:29:57.609
It's not like it's, it's not like a,

00:29:58.507 --> 00:30:00.307
It can't be deducted in any sort of way.

00:30:00.409 --> 00:30:00.568
Yeah.

00:30:00.588 --> 00:30:01.388
So I think previously,

00:30:01.469 --> 00:30:02.630
because they were charities,

00:30:02.650 --> 00:30:04.392
it was literally a charitable donation.

00:30:04.471 --> 00:30:07.453
So it is deducted from, yeah, exactly.

00:30:07.713 --> 00:30:08.634
And they didn't have to

00:30:08.674 --> 00:30:09.455
charge you sales tax.

00:30:09.496 --> 00:30:09.715
Right.

00:30:10.016 --> 00:30:11.277
It's not taxable income at that point.

00:30:11.676 --> 00:30:12.198
That's crazy.

00:30:12.218 --> 00:30:12.778
That's ridiculous.

00:30:13.278 --> 00:30:13.838
Yeah, exactly.

00:30:13.858 --> 00:30:14.660
So that's what it was before.

00:30:15.941 --> 00:30:17.422
They haven't fully closed that loophole,

00:30:17.461 --> 00:30:18.482
but they're making sure

00:30:18.542 --> 00:30:21.545
that some tax gets paid, which, look,

00:30:21.585 --> 00:30:21.806
you know,

00:30:22.465 --> 00:30:23.866
Small businesses like ours

00:30:24.146 --> 00:30:25.147
had corporation tax rates.

00:30:25.307 --> 00:30:25.627
Fine.

00:30:25.907 --> 00:30:26.367
Like I say,

00:30:26.528 --> 00:30:27.509
if that's what's needed to be done,

00:30:27.689 --> 00:30:28.169
that's cool.

00:30:29.210 --> 00:30:30.190
National insurance has gone up.

00:30:31.171 --> 00:30:32.191
Some stuff basically affects

00:30:32.211 --> 00:30:33.951
the amount you pay for hiring somebody.

00:30:34.432 --> 00:30:35.153
And again,

00:30:38.474 --> 00:30:39.694
it's a complicated and big issue

00:30:39.714 --> 00:30:40.496
that is not interesting

00:30:40.536 --> 00:30:41.516
enough for this podcast to go into,

00:30:41.796 --> 00:30:42.356
let's be honest.

00:30:42.436 --> 00:30:44.678
But it primarily is born by

00:30:44.738 --> 00:30:46.019
small to medium businesses, right?

00:30:47.298 --> 00:30:49.200
Like the world's smallest violin,

00:30:49.259 --> 00:30:50.040
because you've got to pay

00:30:50.480 --> 00:30:51.461
sales tax and tuition.

00:30:53.031 --> 00:30:53.653
Right.

00:30:53.712 --> 00:30:54.373
We've talked about more

00:30:54.413 --> 00:30:55.233
petty things in the show.

00:30:55.253 --> 00:30:56.575
So it's, well, that is true.

00:30:56.595 --> 00:30:57.015
That is true.

00:30:57.055 --> 00:30:59.897
Um, you know, it's, it's, Hey, you know,

00:31:00.038 --> 00:31:00.818
it's a good news story.

00:31:00.959 --> 00:31:02.880
I was like, Oh, I read that in the thing.

00:31:02.940 --> 00:31:04.862
I was like, Hey,

00:31:04.882 --> 00:31:06.323
that's a great policy that, that,

00:31:06.343 --> 00:31:08.785
that I love.

00:31:08.826 --> 00:31:10.366
So in a much,

00:31:10.386 --> 00:31:11.647
it's a quite lukewarm budget.

00:31:11.728 --> 00:31:12.808
So I was like, yeah, cool.

00:31:12.868 --> 00:31:13.890
Take, take the W man.

00:31:15.386 --> 00:31:16.166
When you guys were talking

00:31:16.247 --> 00:31:16.708
about TVL before,

00:31:16.728 --> 00:31:18.468
I actually had this dashboard up.

00:31:18.508 --> 00:31:19.068
I shouldn't have looked at

00:31:19.088 --> 00:31:19.848
this TVL dashboard.

00:31:20.088 --> 00:31:20.509
TVL?

00:31:20.528 --> 00:31:23.411
I don't look at the TVL dashboard.

00:31:23.431 --> 00:31:23.871
Cosmos?

00:31:24.211 --> 00:31:24.351
Yeah.

00:31:24.651 --> 00:31:27.051
Well, Noel has this little Zabbix thing.

00:31:27.071 --> 00:31:30.713
He pulls all the commission

00:31:30.733 --> 00:31:31.773
amounts out and he pulls

00:31:31.834 --> 00:31:33.115
all the unstaked amounts

00:31:33.154 --> 00:31:34.756
and he pulls the TVL in there.

00:31:34.776 --> 00:31:35.695
And if it's public,

00:31:35.736 --> 00:31:37.436
if it's a token that's actually traded,

00:31:37.457 --> 00:31:38.696
he pulls the price off

00:31:38.717 --> 00:31:41.117
CoinGecko and does a little mathy math.

00:31:41.337 --> 00:31:42.558
And it's pretty brutal.

00:31:43.935 --> 00:31:46.998
I think, I think it's pretty brutal.

00:31:47.018 --> 00:31:48.138
You're going to need to expand on that.

00:31:48.338 --> 00:31:48.519
Well,

00:31:48.598 --> 00:31:50.160
I think I remember in twenty twenty one,

00:31:50.299 --> 00:31:51.601
I was looking in to say if

00:31:51.621 --> 00:31:52.080
we didn't have like one

00:31:52.101 --> 00:31:53.442
hundred thousand dollars in

00:31:53.461 --> 00:31:54.903
TVL on the on the note,

00:31:54.923 --> 00:31:55.604
it wouldn't make sense.

00:31:55.644 --> 00:31:56.423
And I think like the break

00:31:56.503 --> 00:31:58.625
even at five percent.

00:31:58.645 --> 00:31:59.306
What is it like three

00:31:59.326 --> 00:31:59.946
hundred fifty thousand

00:31:59.987 --> 00:32:00.987
dollars or something like that?

00:32:01.007 --> 00:32:01.768
I forget what it is.

00:32:02.607 --> 00:32:03.568
Half a million dollars, maybe.

00:32:04.926 --> 00:32:06.489
which network any network

00:32:06.989 --> 00:32:07.609
meaning like if you have a

00:32:07.630 --> 00:32:08.290
half a million dollars

00:32:08.371 --> 00:32:09.852
staked at five percent

00:32:10.212 --> 00:32:12.095
based on rewards that

00:32:12.174 --> 00:32:13.016
probably equals a couple

00:32:13.036 --> 00:32:13.997
hundred bucks a month or

00:32:14.017 --> 00:32:14.817
something more than that I

00:32:14.837 --> 00:32:15.778
forget what the hell it was

00:32:15.858 --> 00:32:17.780
but yeah but it was going

00:32:17.800 --> 00:32:18.701
to be closer to a million

00:32:18.741 --> 00:32:19.682
dollars I would have thought

00:32:20.446 --> 00:32:22.347
No, well, I mean, it depends on,

00:32:22.508 --> 00:32:23.269
depends on if you're,

00:32:23.848 --> 00:32:24.469
if you're talking about,

00:32:24.489 --> 00:32:25.289
do you want to eat or you

00:32:25.309 --> 00:32:26.029
just want to pay for

00:32:26.390 --> 00:32:28.872
whatever's running at a, at a net.

00:32:28.932 --> 00:32:30.833
Oh, I guess selfishly, I'm assuming some,

00:32:31.313 --> 00:32:33.054
some money for the, uh,

00:32:33.074 --> 00:32:35.375
for work on top of hardware, but, but yes,

00:32:35.394 --> 00:32:35.494
yeah.

00:32:35.535 --> 00:32:36.256
Pure, pure hardware.

00:32:36.276 --> 00:32:37.056
You're probably right.

00:32:37.336 --> 00:32:37.476
Right.

00:32:37.536 --> 00:32:38.817
I remember saying like,

00:32:38.856 --> 00:32:39.897
if it was under a hundred thousand,

00:32:39.917 --> 00:32:40.637
it wouldn't make any sense.

00:32:40.657 --> 00:32:41.499
Like it was silly.

00:32:41.679 --> 00:32:42.459
Like, why would you,

00:32:42.598 --> 00:32:43.319
why would you have running

00:32:43.380 --> 00:32:45.401
nose at a hundred, under a thousand TBL?

00:32:45.820 --> 00:32:47.321
If I draw that line here, it's a lot of.

00:32:48.731 --> 00:32:50.053
Like there's, then I was like, well,

00:32:50.093 --> 00:32:51.272
maybe I should make it fifty thousand.

00:32:51.313 --> 00:32:51.393
Well,

00:32:51.413 --> 00:32:52.394
maybe I should make it twenty-five

00:32:52.433 --> 00:32:52.753
thousand.

00:32:53.074 --> 00:32:53.493
Yeah, I mean, well,

00:32:53.513 --> 00:32:55.035
that was under ten thousand dollar stake.

00:32:55.575 --> 00:32:56.455
Well,

00:32:56.496 --> 00:32:57.476
I think that was the point we got to

00:32:57.496 --> 00:32:58.457
with Juno and Stargate is

00:32:58.497 --> 00:32:59.237
like we were just,

00:32:59.997 --> 00:33:02.317
it was substantially below

00:33:02.378 --> 00:33:03.078
the break even.

00:33:03.659 --> 00:33:05.019
Despite being like on paper

00:33:05.059 --> 00:33:07.661
quite a large stake

00:33:07.701 --> 00:33:09.082
quantity and you just go like, well,

00:33:09.102 --> 00:33:09.682
at what point?

00:33:11.603 --> 00:33:12.583
Yeah.

00:33:12.603 --> 00:33:13.564
I think Juno right now, I mean,

00:33:13.604 --> 00:33:14.743
we're not very high in the Juno set,

00:33:14.763 --> 00:33:16.144
but I think we have twelve

00:33:16.184 --> 00:33:17.105
grand staked on Juno.

00:33:17.266 --> 00:33:17.526
Total.

00:33:18.382 --> 00:33:19.583
yeah twelve thousand total

00:33:19.603 --> 00:33:22.065
tbl yeah I think we were

00:33:22.444 --> 00:33:23.665
that's like something like

00:33:23.806 --> 00:33:25.467
what am I doing we we were

00:33:25.586 --> 00:33:27.688
so I I had honestly thought

00:33:27.748 --> 00:33:28.909
it was like a hundred k for

00:33:28.989 --> 00:33:31.750
us um until I did the maths

00:33:32.070 --> 00:33:33.853
when I did like the you

00:33:33.873 --> 00:33:35.073
know claiming rewards begin

00:33:35.113 --> 00:33:36.453
to unstake on bonding and

00:33:36.493 --> 00:33:38.375
whatnot and I just looked

00:33:38.435 --> 00:33:40.217
in the kepler dashboard and

00:33:40.237 --> 00:33:42.097
it was like oh fifteen

00:33:42.117 --> 00:33:43.618
thousand juno is like eight

00:33:43.659 --> 00:33:44.859
hundred bucks and I'm like

00:33:46.536 --> 00:33:46.715
Yeah.

00:33:46.955 --> 00:33:47.395
Oh shit.

00:33:47.435 --> 00:33:47.696
Okay.

00:33:47.717 --> 00:33:48.017
Yeah.

00:33:48.037 --> 00:33:49.637
It's actually way less than I thought.

00:33:49.678 --> 00:33:51.439
Like it's more like there's

00:33:51.459 --> 00:33:52.199
probably still about fifty

00:33:52.219 --> 00:33:54.259
sixty K. I think we had on the validator,

00:33:54.700 --> 00:33:55.901
but like nowhere close,

00:33:55.941 --> 00:33:56.980
like not even with eight

00:33:57.000 --> 00:33:57.801
percent commission or

00:33:57.821 --> 00:33:58.561
whatever we had on it.

00:33:58.882 --> 00:34:00.563
Like it's just the numbers

00:34:00.583 --> 00:34:00.982
are really weird.

00:34:01.022 --> 00:34:02.923
Like even even like Stargaze

00:34:03.484 --> 00:34:04.684
Stargaze where we have a

00:34:04.884 --> 00:34:06.266
pretty significant amount of stake there.

00:34:06.286 --> 00:34:07.487
But that's like eighty five grand.

00:34:07.926 --> 00:34:09.547
Our OmniFlix stake is three

00:34:09.588 --> 00:34:10.128
hundred thousand.

00:34:10.748 --> 00:34:11.789
So we have three times as

00:34:11.849 --> 00:34:13.369
much on OmniFlix than we do on Stargaze.

00:34:13.449 --> 00:34:14.829
And that that doesn't make

00:34:14.851 --> 00:34:15.411
any sense to me.

00:34:16.976 --> 00:34:18.556
Like that tokenomics doesn't,

00:34:18.597 --> 00:34:19.418
it doesn't make any sense.

00:34:19.438 --> 00:34:19.637
Like it,

00:34:19.898 --> 00:34:21.478
like just for in terms of the

00:34:21.498 --> 00:34:22.518
amount of traffic on those

00:34:22.739 --> 00:34:24.179
respective sites and other

00:34:24.199 --> 00:34:25.619
types of things that doesn't seem,

00:34:26.000 --> 00:34:26.920
is it about circulating

00:34:26.980 --> 00:34:28.360
supply being substantially lower?

00:34:28.380 --> 00:34:29.880
I would assume it's, I mean,

00:34:29.900 --> 00:34:36.161
it must be so inflationary that you can,

00:34:36.202 --> 00:34:38.123
you can have like two

00:34:38.143 --> 00:34:39.043
million stars and it's

00:34:39.063 --> 00:34:40.364
worth like five grand.

00:34:41.023 --> 00:34:41.164
Yeah.

00:34:41.184 --> 00:34:41.684
Right now it's,

00:34:41.943 --> 00:34:45.125
it's a six tenths of a cent.

00:34:47.505 --> 00:34:48.806
Do you remember it was worth half a cent?

00:34:48.827 --> 00:34:49.827
That was wild time.

00:34:50.467 --> 00:34:50.847
Yeah, it was.

00:34:51.347 --> 00:34:52.469
Yeah, it was forty something.

00:34:52.608 --> 00:34:53.210
Forty five.

00:34:53.250 --> 00:34:53.690
Forty two.

00:34:53.889 --> 00:34:54.110
Yeah.

00:34:54.550 --> 00:34:56.391
I mean, look,

00:34:56.612 --> 00:34:58.853
stars became the NFT marketplace.

00:34:58.913 --> 00:35:01.454
We went back to twenty cents.

00:35:01.675 --> 00:35:02.355
Thirty cents.

00:35:02.715 --> 00:35:03.496
Yeah.

00:35:03.516 --> 00:35:04.137
We'll see what happens.

00:35:04.157 --> 00:35:05.496
I'll be on a beach so fast.

00:35:06.938 --> 00:35:07.938
Your head would spin.

00:35:08.199 --> 00:35:09.199
We'll see what happens with Astra.

00:35:09.219 --> 00:35:10.561
Because they're doing some

00:35:10.601 --> 00:35:12.001
stuff with Astra as well.

00:35:12.833 --> 00:35:15.954
as a subchain on Celestia,

00:35:16.634 --> 00:35:18.135
which will have much faster

00:35:18.155 --> 00:35:19.394
block times and finality

00:35:19.414 --> 00:35:20.235
and a bunch of other stuff

00:35:20.255 --> 00:35:20.835
that's coming in there,

00:35:20.876 --> 00:35:21.815
which I think will be interesting.

00:35:22.456 --> 00:35:23.195
I don't know if that affects

00:35:23.215 --> 00:35:25.197
Star's token price at all.

00:35:25.277 --> 00:35:26.297
I don't understand that well enough,

00:35:26.396 --> 00:35:28.338
but yeah.

00:35:28.358 --> 00:35:28.858
You'd hope so.

00:35:28.898 --> 00:35:29.217
Otherwise,

00:35:29.257 --> 00:35:33.719
that's just changing to a new project.

00:35:33.739 --> 00:35:34.599
Yeah, yeah.

00:35:34.639 --> 00:35:35.000
No, I agree.

00:35:35.039 --> 00:35:35.440
I agree.

00:35:35.460 --> 00:35:36.340
Yeah, yeah.

00:35:36.360 --> 00:35:38.240
I think that would be kind of the point,

00:35:38.260 --> 00:35:38.420
right?

00:35:39.101 --> 00:35:40.782
So yeah, anyway.

00:35:41.416 --> 00:35:42.336
Stand away from that dashboard.

00:35:42.597 --> 00:35:43.757
Fuck that thing.

00:35:43.797 --> 00:35:44.438
Just ignoring it.

00:35:45.677 --> 00:35:46.717
Let's just not worry about it.

00:35:46.757 --> 00:35:49.398
What we don't know can't have a test.

00:35:49.438 --> 00:35:51.059
Which is... Chihuahua's

00:35:51.239 --> 00:35:52.079
pretty high up that list too,

00:35:52.099 --> 00:35:52.599
which is weird.

00:35:53.880 --> 00:35:55.320
I have seven networks under

00:35:55.340 --> 00:35:56.860
a hundred grand, by the looks of it.

00:35:56.880 --> 00:35:58.481
I probably have more.

00:35:58.501 --> 00:35:59.922
From my summary dashboard.

00:36:03.782 --> 00:36:05.744
I have one, two, three, four.

00:36:05.983 --> 00:36:06.963
Seems to have been a bit of

00:36:06.983 --> 00:36:07.923
a Trump pump though.

00:36:09.784 --> 00:36:10.804
I have nine under eight.

00:36:11.282 --> 00:36:13.784
under I I was I this morning

00:36:13.824 --> 00:36:15.144
I woke up and I was like

00:36:15.204 --> 00:36:18.106
yeah I I kind of I called

00:36:18.126 --> 00:36:19.407
it last time in this time

00:36:19.547 --> 00:36:22.528
and maybe well certainly

00:36:22.548 --> 00:36:24.469
called it this time but it

00:36:24.489 --> 00:36:26.891
was just like I've got a

00:36:26.990 --> 00:36:27.911
I've got a ride somewhere

00:36:27.951 --> 00:36:28.751
first thing in the morning

00:36:28.791 --> 00:36:30.273
I'm not gonna I don't want

00:36:30.293 --> 00:36:32.494
to be like bothered when

00:36:32.514 --> 00:36:34.775
I'm in traffic and whatever I'm just like

00:36:35.952 --> 00:36:37.114
just not going to worry about this,

00:36:37.173 --> 00:36:37.574
whatever.

00:36:37.813 --> 00:36:38.614
I'm not an American.

00:36:38.775 --> 00:36:41.137
This is kind of beyond my control,

00:36:41.177 --> 00:36:41.777
not my problem.

00:36:42.438 --> 00:36:45.340
And then, then I saw just,

00:36:45.579 --> 00:36:47.302
I get some node metrics,

00:36:47.961 --> 00:36:49.143
get sent to me every morning.

00:36:49.242 --> 00:36:51.625
And I saw a price ticket and I was like,

00:36:51.804 --> 00:36:52.806
well, I know what's happened.

00:36:53.326 --> 00:36:54.226
Yeah.

00:36:54.246 --> 00:36:55.708
It was like, Bitcoin appears to be up.

00:36:55.748 --> 00:36:56.009
Well,

00:36:56.188 --> 00:36:58.389
I'm fucking down to tell me what's

00:36:58.449 --> 00:36:59.291
happened then.

00:36:59.351 --> 00:37:00.231
It's up nine percent.

00:37:00.411 --> 00:37:02.753
The range of ten, eleven right now.

00:37:02.833 --> 00:37:03.014
Yeah.

00:37:03.559 --> 00:37:05.059
yeah I'm okay with a little

00:37:05.079 --> 00:37:06.300
pump though let's get some

00:37:06.521 --> 00:37:08.402
get some going here yeah

00:37:09.081 --> 00:37:11.403
sell some stuff that's just

00:37:11.943 --> 00:37:13.085
us enthusiasm around crypto

00:37:13.125 --> 00:37:15.126
I I mean I don't know if

00:37:15.206 --> 00:37:16.407
that any of that is real I

00:37:16.427 --> 00:37:17.827
don't I think each

00:37:17.867 --> 00:37:19.027
candidate there's just

00:37:19.047 --> 00:37:19.768
saying things that they

00:37:20.048 --> 00:37:21.210
want to say to be able to

00:37:21.250 --> 00:37:22.550
get into office so I don't

00:37:22.570 --> 00:37:23.050
think there's anything

00:37:24.291 --> 00:37:25.534
I don't think it's in their control.

00:37:25.653 --> 00:37:26.534
I don't think there's going

00:37:26.554 --> 00:37:28.157
to be a significant amount of change.

00:37:28.257 --> 00:37:28.797
I think it's just one of

00:37:28.818 --> 00:37:29.338
those things that gets

00:37:29.378 --> 00:37:30.880
kicked down the road.

00:37:30.900 --> 00:37:32.143
But we'll see.

00:37:32.262 --> 00:37:33.664
Unless you get an increase

00:37:33.704 --> 00:37:35.047
in disposable income or you

00:37:35.067 --> 00:37:36.268
get real use cases that

00:37:36.289 --> 00:37:36.949
people want to use,

00:37:36.989 --> 00:37:38.090
it's kind of six one half a

00:37:38.130 --> 00:37:38.931
dozen the other, right?

00:37:38.952 --> 00:37:39.914
In terms of moving the needle.

00:37:41.606 --> 00:37:42.768
Yeah, yes.

00:37:43.427 --> 00:37:46.650
I do think that if there is

00:37:46.851 --> 00:37:52.275
a road to a realistic stablecoin use,

00:37:52.375 --> 00:37:53.255
that's where it's going to start.

00:37:53.275 --> 00:37:54.295
If there's a road to a

00:37:54.576 --> 00:37:56.998
realistic stablecoin use

00:37:57.137 --> 00:37:59.639
that is in use by credit

00:38:01.041 --> 00:38:03.461
entities and by others,

00:38:04.123 --> 00:38:05.923
I think you get use cases

00:38:06.143 --> 00:38:07.164
fucking skyrocketing.

00:38:08.226 --> 00:38:11.228
What do you mean by stablecoin use?

00:38:11.829 --> 00:38:12.530
real estate?

00:38:14.331 --> 00:38:16.052
Stablecoin use in terms of

00:38:16.112 --> 00:38:17.213
paying credit card bills

00:38:17.514 --> 00:38:18.795
and using it as assets

00:38:18.815 --> 00:38:20.275
associated to home loans,

00:38:20.757 --> 00:38:22.458
as using it as assets

00:38:22.518 --> 00:38:25.701
associated to net wealth in

00:38:25.760 --> 00:38:26.961
terms of being able to do

00:38:27.521 --> 00:38:28.163
payments for you.

00:38:30.164 --> 00:38:30.385
I mean,

00:38:30.405 --> 00:38:31.485
I kind of see it from a point of

00:38:31.505 --> 00:38:32.045
view of like,

00:38:32.166 --> 00:38:33.166
if you have RWAs and whatever,

00:38:33.186 --> 00:38:33.646
but what would be...

00:38:36.706 --> 00:38:37.648
What would be the advantages

00:38:37.688 --> 00:38:39.449
of stablecoin over just a

00:38:39.469 --> 00:38:41.090
traditional bank account,

00:38:41.130 --> 00:38:42.690
private money credit type setup?

00:38:42.951 --> 00:38:43.851
I think we all know that, right?

00:38:46.293 --> 00:38:48.275
There's a lot.

00:38:48.295 --> 00:38:48.474
Really?

00:38:48.514 --> 00:38:49.135
Reduce fees?

00:38:50.576 --> 00:38:56.360
Reduce fees, time, cross-border transfers,

00:38:56.380 --> 00:38:57.380
yada, yada, yada, yada.

00:38:57.481 --> 00:39:00.282
I mean, there's plenty.

00:39:00.302 --> 00:39:00.543
Plenty.

00:39:02.623 --> 00:39:03.264
Yeah.

00:39:03.384 --> 00:39:04.985
Maybe anonymity?

00:39:05.324 --> 00:39:05.565
Maybe?

00:39:06.585 --> 00:39:06.826
Well,

00:39:06.925 --> 00:39:08.266
I was going to say it's kind of the

00:39:08.327 --> 00:39:08.708
opposite.

00:39:08.967 --> 00:39:10.389
You're trading off doing

00:39:10.429 --> 00:39:11.710
transactions in the open in

00:39:11.769 --> 00:39:14.632
exchange for reduced fees, right?

00:39:15.072 --> 00:39:17.054
Maybe so.

00:39:17.114 --> 00:39:18.094
It kind of depends whether

00:39:19.315 --> 00:39:20.976
you think the payment system is going to

00:39:23.882 --> 00:39:24.362
Well, that's it.

00:39:24.382 --> 00:39:25.943
You know, I suppose the, and again, to, to,

00:39:26.003 --> 00:39:26.804
to be fair here,

00:39:26.844 --> 00:39:28.385
you can do faster payments,

00:39:28.405 --> 00:39:29.706
which were one pound, nine, five,

00:39:30.007 --> 00:39:30.907
typically there,

00:39:30.927 --> 00:39:32.610
thereabouts to up to a million pounds.

00:39:33.289 --> 00:39:34.652
It should clear in three seconds.

00:39:35.132 --> 00:39:35.652
It's pretty good.

00:39:36.813 --> 00:39:38.034
So I'm kind of also just like,

00:39:38.195 --> 00:39:39.295
I think I would rather have that.

00:39:39.456 --> 00:39:39.856
And then like,

00:39:40.077 --> 00:39:40.956
obviously your bank is

00:39:40.996 --> 00:39:42.639
always going to know, um,

00:39:42.960 --> 00:39:43.521
what's going on.

00:39:43.541 --> 00:39:44.621
I'm not really worried about that,

00:39:44.701 --> 00:39:45.981
but like it's not being

00:39:46.001 --> 00:39:47.141
broadcast on a blockchain.

00:39:47.402 --> 00:39:49.762
So that's a plus.

00:39:50.983 --> 00:39:51.163
Yeah.

00:39:51.262 --> 00:39:52.282
I mean, yes.

00:39:52.784 --> 00:39:53.983
It's not being broadcast publicly.

00:39:55.264 --> 00:39:56.704
But you know, that it's shit.

00:39:56.724 --> 00:39:58.025
That's low hanging fruit to fix.

00:39:58.085 --> 00:40:00.686
Like for somebody to actually go in,

00:40:00.965 --> 00:40:02.226
you know, like, ah, yeah.

00:40:02.306 --> 00:40:02.786
If you were just,

00:40:02.925 --> 00:40:04.746
if you were a company and you were like,

00:40:04.766 --> 00:40:05.086
I don't know,

00:40:05.126 --> 00:40:06.666
like a post quantum or

00:40:06.706 --> 00:40:08.608
quantum safe cryptography company,

00:40:08.728 --> 00:40:09.268
I would just be,

00:40:10.717 --> 00:40:11.617
I would just be fucking

00:40:12.177 --> 00:40:13.659
getting a solution for that in place.

00:40:13.760 --> 00:40:14.260
Just be like,

00:40:14.641 --> 00:40:16.641
like fucking zero knowledge

00:40:16.661 --> 00:40:17.943
solution for just like really,

00:40:18.304 --> 00:40:20.025
really like the most basic

00:40:21.967 --> 00:40:22.847
payment settlement,

00:40:22.947 --> 00:40:24.228
like just posting a proof

00:40:24.949 --> 00:40:25.990
and having it on a chain.

00:40:27.251 --> 00:40:27.311
Um,

00:40:31.034 --> 00:40:32.695
those exist it's it's not so

00:40:32.715 --> 00:40:33.735
much technology right it's

00:40:34.195 --> 00:40:35.635
just it's getting the it's

00:40:35.655 --> 00:40:36.476
the regulatory approval

00:40:36.835 --> 00:40:37.976
yeah it's regulatory and

00:40:38.016 --> 00:40:39.996
it's it's actual use that

00:40:40.036 --> 00:40:42.697
will yeah I mean I guess I

00:40:42.717 --> 00:40:43.217
guess that's the thing

00:40:43.257 --> 00:40:44.137
that's that's maybe an

00:40:44.297 --> 00:40:46.818
easier sell here where I

00:40:46.838 --> 00:40:48.038
think in the next two three

00:40:48.057 --> 00:40:49.978
years the regulator is

00:40:50.179 --> 00:40:51.259
going to move on that in a

00:40:51.298 --> 00:40:54.840
pretty big way and the uh

00:40:55.911 --> 00:40:56.871
bank of england just put out

00:40:56.891 --> 00:40:58.333
a paper which I actually I

00:40:58.353 --> 00:40:59.074
think because I took two

00:40:59.094 --> 00:40:59.894
weeks off I think I

00:40:59.914 --> 00:41:00.655
probably haven't mentioned

00:41:00.695 --> 00:41:01.697
this actually that the bank

00:41:01.717 --> 00:41:02.416
of england put out a

00:41:02.456 --> 00:41:05.019
discussion paper I won't

00:41:05.039 --> 00:41:06.181
say it's last month and it

00:41:06.221 --> 00:41:07.322
has some some quite

00:41:07.342 --> 00:41:09.184
interesting stuff about um

00:41:09.224 --> 00:41:10.664
tokenized assets about

00:41:10.885 --> 00:41:12.306
computable and programmable

00:41:12.347 --> 00:41:16.010
money um and also about uh

00:41:16.110 --> 00:41:17.052
essentially the stablecoin

00:41:17.112 --> 00:41:17.952
use cases that you've just

00:41:17.992 --> 00:41:19.773
described right and it says that

00:41:20.784 --> 00:41:21.184
you know, their,

00:41:21.344 --> 00:41:23.266
their concern is they are

00:41:23.686 --> 00:41:25.188
the systemic bag holder.

00:41:25.268 --> 00:41:27.190
If you like their job is systemic risk.

00:41:27.329 --> 00:41:28.130
That's their thing.

00:41:28.510 --> 00:41:28.731
Right.

00:41:29.771 --> 00:41:33.094
Um, and they're just like, yeah, okay.

00:41:33.155 --> 00:41:38.259
We're, we actually have a relatively like,

00:41:38.418 --> 00:41:38.918
we're like, we,

00:41:39.179 --> 00:41:40.019
we think as long as we

00:41:40.039 --> 00:41:42.862
don't introduce wholesale, um,

00:41:42.983 --> 00:41:45.545
stable coin or CBDC at this stage,

00:41:46.715 --> 00:41:47.956
We think that the private

00:41:48.177 --> 00:41:49.117
use of these things is

00:41:49.237 --> 00:41:50.958
probably actually fine from

00:41:50.978 --> 00:41:52.478
a systemic risk perspective.

00:41:52.998 --> 00:41:54.518
And there are use cases to be found,

00:41:54.659 --> 00:41:57.800
but there are X caveats, blah, blah, blah,

00:41:57.820 --> 00:41:58.159
blah, blah.

00:41:59.400 --> 00:42:00.061
It's a good paper.

00:42:00.621 --> 00:42:01.541
It's quite well written.

00:42:02.081 --> 00:42:03.021
Does that mean they would

00:42:03.181 --> 00:42:04.603
back the use of those stable coins?

00:42:04.722 --> 00:42:05.583
Or what are they saying there?

00:42:06.148 --> 00:42:07.331
Well, so this is within the frame.

00:42:07.351 --> 00:42:08.472
So this is merely a

00:42:08.512 --> 00:42:10.016
discussion paper to offer.

00:42:10.175 --> 00:42:11.559
So they say, this is our positions,

00:42:11.599 --> 00:42:12.139
what we're thinking.

00:42:12.380 --> 00:42:14.224
And then you can, sorry,

00:42:14.244 --> 00:42:15.545
you could up to the thirty

00:42:15.565 --> 00:42:18.170
first of October reply.

00:42:19.940 --> 00:42:20.701
I don't know if that

00:42:20.740 --> 00:42:21.862
firework came through the mic,

00:42:21.942 --> 00:42:23.382
but so we just blew a firework.

00:42:23.402 --> 00:42:24.063
Yeah.

00:42:24.384 --> 00:42:28.806
So, but up till the first of October,

00:42:28.847 --> 00:42:30.088
you could reply to it as a business.

00:42:30.128 --> 00:42:30.449
Basically,

00:42:30.469 --> 00:42:31.148
if you were a business

00:42:31.168 --> 00:42:32.190
interested in the space or

00:42:32.409 --> 00:42:33.751
like an academic or research or something,

00:42:33.791 --> 00:42:34.512
you could reply to the

00:42:34.552 --> 00:42:35.393
consultation and say,

00:42:35.992 --> 00:42:36.472
here are some of my

00:42:36.492 --> 00:42:37.653
thoughts on the areas that

00:42:37.733 --> 00:42:39.815
you've asked for input.

00:42:39.876 --> 00:42:40.036
Right.

00:42:41.657 --> 00:42:42.597
But it's within the

00:42:42.637 --> 00:42:43.900
framework of this wider

00:42:44.059 --> 00:42:45.121
piece of work they're doing,

00:42:45.141 --> 00:42:46.161
which is all of the stuff

00:42:46.181 --> 00:42:47.963
on the digital pound, all the stuff on.

00:42:48.907 --> 00:42:52.690
sandboxes for already regulated entities,

00:42:52.789 --> 00:42:53.769
of which there are a few,

00:42:54.630 --> 00:42:56.452
to experiment with these use cases.

00:42:57.211 --> 00:42:59.074
There's an accelerator of some kind.

00:43:03.215 --> 00:43:04.356
I think it's called an elevator.

00:43:04.797 --> 00:43:06.157
There's a particular name for it.

00:43:06.177 --> 00:43:07.018
There's some kind of thing

00:43:07.038 --> 00:43:08.278
for proving out a use case

00:43:08.318 --> 00:43:09.780
and beginning to put it in front of users,

00:43:11.820 --> 00:43:12.422
which may or may not

00:43:12.481 --> 00:43:13.983
actually be the same thing as the sandbox,

00:43:14.003 --> 00:43:15.143
but just at a later stage.

00:43:15.163 --> 00:43:15.884
But either way,

00:43:15.923 --> 00:43:17.105
the point is they're kind of like...

00:43:17.864 --> 00:43:18.885
look as long as you don't

00:43:18.945 --> 00:43:20.405
endanger the wider economy

00:43:20.626 --> 00:43:21.306
as long as you don't

00:43:21.405 --> 00:43:23.905
actively scam users we are

00:43:23.945 --> 00:43:25.027
prepared to work with you

00:43:25.067 --> 00:43:26.827
on this but you will be

00:43:26.887 --> 00:43:29.067
regulated you know from the

00:43:29.086 --> 00:43:31.547
get-go kind of thing um and

00:43:31.588 --> 00:43:32.927
it's obviously like being

00:43:33.027 --> 00:43:33.947
one of those organizations

00:43:33.987 --> 00:43:35.668
is not like easy you don't

00:43:35.688 --> 00:43:36.809
just like walk it you're

00:43:36.849 --> 00:43:38.449
just like right to mr bank

00:43:38.469 --> 00:43:39.429
of england and be like yeah

00:43:39.550 --> 00:43:40.650
I'm I'm a dj in the

00:43:40.670 --> 00:43:41.449
basement and I want to

00:43:41.469 --> 00:43:42.869
launch a stable coin they'd

00:43:42.889 --> 00:43:45.951
be like I bet you do go fuck off

00:43:47.559 --> 00:43:49.961
So they are saying that,

00:43:51.523 --> 00:43:52.663
with those specific caveats,

00:43:52.862 --> 00:43:54.344
that they think it's acceptable use.

00:43:55.045 --> 00:43:56.425
And they do think that

00:43:56.666 --> 00:43:57.786
there's some layer of...

00:43:59.387 --> 00:44:00.126
What's the right word for it?

00:44:00.146 --> 00:44:01.248
I guess it's some layer of

00:44:04.090 --> 00:44:05.050
organizational viability

00:44:05.070 --> 00:44:05.851
that they need to pass to

00:44:05.871 --> 00:44:06.951
be able to be sponsored in

00:44:06.990 --> 00:44:07.492
some sort of way.

00:44:08.391 --> 00:44:09.432
Yeah, they're basically saying,

00:44:09.532 --> 00:44:11.114
at the moment, the pool is...

00:44:12.030 --> 00:44:13.190
The pool is tiny.

00:44:13.672 --> 00:44:15.032
If you are one of the people

00:44:15.072 --> 00:44:16.231
who is authorized to do this,

00:44:16.931 --> 00:44:17.793
you already know.

00:44:18.072 --> 00:44:19.273
So don't bother asking.

00:44:19.753 --> 00:44:21.054
But they are saying that

00:44:22.434 --> 00:44:24.454
they understand that there

00:44:24.474 --> 00:44:26.775
is a framework and a way

00:44:26.815 --> 00:44:28.456
that this will be brought to market.

00:44:29.449 --> 00:44:31.170
What they are dubious about

00:44:31.650 --> 00:44:33.972
is... So they're like... Again,

00:44:34.032 --> 00:44:34.652
summarizing,

00:44:34.793 --> 00:44:36.054
you can go read this yourself

00:44:36.153 --> 00:44:37.034
and draw it out.

00:44:37.054 --> 00:44:37.956
Yeah, we'll put it in the show notes.

00:44:37.996 --> 00:44:38.835
I do want to read it.

00:44:39.416 --> 00:44:42.539
But they sort of say, from our perspective,

00:44:42.639 --> 00:44:44.141
wholesale CBDCs is where we

00:44:44.161 --> 00:44:45.320
think there's a systemic risk.

00:44:45.882 --> 00:44:47.322
We're less worried about consumer stuff.

00:44:47.882 --> 00:44:49.585
We see that there's a lot of

00:44:49.625 --> 00:44:50.545
potential benefits for

00:44:50.626 --> 00:44:51.485
using this stuff for

00:44:51.887 --> 00:44:52.746
anything that will reduce

00:44:52.766 --> 00:44:54.307
fees or intermediaries, but...

00:44:55.108 --> 00:44:58.333
But our concern is actually uptake,

00:44:58.353 --> 00:44:59.215
because many of the real

00:44:59.235 --> 00:45:01.358
world asset type use cases

00:45:02.628 --> 00:45:03.648
exist in an environment

00:45:03.788 --> 00:45:06.088
where high trust is required, right?

00:45:06.208 --> 00:45:07.170
They're around things like

00:45:07.210 --> 00:45:08.369
housing or high value

00:45:08.409 --> 00:45:10.530
payments or important assets or whatever.

00:45:10.971 --> 00:45:11.471
And it's not,

00:45:12.391 --> 00:45:14.192
we use the Bank of England to

00:45:14.211 --> 00:45:16.213
understand that you can reduce fees,

00:45:16.492 --> 00:45:17.853
but our understanding is

00:45:17.932 --> 00:45:19.494
that fees are not the big

00:45:19.934 --> 00:45:21.675
blocker to these transactions.

00:45:22.355 --> 00:45:25.056
And actually they kind of work fine as is,

00:45:25.096 --> 00:45:25.516
like, I mean,

00:45:26.076 --> 00:45:28.056
you can certainly undercut the market,

00:45:28.336 --> 00:45:29.137
but whether or not anybody

00:45:29.157 --> 00:45:30.898
will use your solution is,

00:45:31.994 --> 00:45:32.514
an unknown.

00:45:32.795 --> 00:45:35.820
So we're not against people trying it,

00:45:36.019 --> 00:45:38.063
but we're honestly a bit

00:45:38.103 --> 00:45:39.244
dubious that people will go

00:45:39.264 --> 00:45:42.289
for it because we don't

00:45:42.329 --> 00:45:43.210
necessarily see that mass

00:45:43.251 --> 00:45:44.353
adoption is going to happen

00:45:44.472 --> 00:45:45.434
of these technologies.

00:45:45.655 --> 00:45:47.036
Is that in there?

00:45:48.331 --> 00:45:49.271
Essentially, yeah.

00:45:50.132 --> 00:45:50.851
There's a kind of comment

00:45:50.992 --> 00:45:53.333
on... Just drop that in there?

00:45:53.353 --> 00:45:56.614
By the way, it doesn't make a difference.

00:45:57.815 --> 00:45:58.516
I'm paraphrasing.

00:46:00.356 --> 00:46:02.398
I think there might actually

00:46:02.438 --> 00:46:05.298
be a discussion point which

00:46:05.358 --> 00:46:06.599
specifically says, oh, you know,

00:46:06.659 --> 00:46:08.621
like total bond clearances

00:46:08.661 --> 00:46:09.800
in a one-week period or

00:46:09.840 --> 00:46:11.342
something were like a

00:46:11.501 --> 00:46:13.043
trillion pounds or something.

00:46:13.083 --> 00:46:14.864
Total clearances on all

00:46:15.344 --> 00:46:17.105
digitalized assets today are like

00:46:17.844 --> 00:46:18.744
two billion pounds or

00:46:18.764 --> 00:46:20.085
something I'm pretty sure

00:46:20.106 --> 00:46:20.965
there is actually a number

00:46:21.005 --> 00:46:21.646
in there where they go like

00:46:21.865 --> 00:46:22.706
hey let's let's just be

00:46:22.766 --> 00:46:23.726
real about the numbers

00:46:23.746 --> 00:46:24.487
we're talking about here

00:46:24.947 --> 00:46:27.788
yeah um but then I might be

00:46:27.847 --> 00:46:28.387
getting that a little bit

00:46:28.407 --> 00:46:29.467
jumbled because I have also

00:46:29.507 --> 00:46:32.009
obviously read analysis of

00:46:32.329 --> 00:46:33.869
the thing as well as the

00:46:33.929 --> 00:46:35.610
thing so it's entirely

00:46:35.650 --> 00:46:37.570
possible I'm lying but I

00:46:37.590 --> 00:46:38.891
think I'm correct in saying

00:46:38.911 --> 00:46:40.471
that um and like I say

00:46:40.490 --> 00:46:41.010
we'll put it in the show

00:46:41.030 --> 00:46:42.592
notes so you can have a look and uh

00:46:43.331 --> 00:46:43.510
Yeah.

00:46:43.590 --> 00:46:44.471
Yeah.

00:46:44.510 --> 00:46:44.710
Cool.

00:46:44.871 --> 00:46:45.012
Yeah.

00:46:45.032 --> 00:46:46.152
Although I do want to see it.

00:46:46.831 --> 00:46:47.032
Cool.

00:46:47.512 --> 00:46:47.711
I mean,

00:46:47.731 --> 00:46:49.512
I do think we've had a couple of these,

00:46:49.552 --> 00:46:49.813
right?

00:46:49.893 --> 00:46:50.313
There was one,

00:46:50.512 --> 00:46:51.452
I think last year we talked

00:46:51.472 --> 00:46:52.893
about it and maybe even before that,

00:46:52.954 --> 00:46:53.293
when we,

00:46:53.634 --> 00:46:55.213
when these kind of groups came together.

00:46:55.253 --> 00:46:56.594
So I'm glad there's some progress.

00:46:56.675 --> 00:46:57.235
This seems like they

00:46:57.275 --> 00:46:58.114
actually have an opinion

00:46:58.815 --> 00:47:00.255
and that they want to float that opinion.

00:47:00.275 --> 00:47:01.195
The first one was just like, Hey,

00:47:01.215 --> 00:47:02.856
we were thinking about having opinion,

00:47:03.637 --> 00:47:03.757
right?

00:47:03.777 --> 00:47:05.237
That was basically the sense.

00:47:05.257 --> 00:47:06.038
First of all, I was like, yeah,

00:47:06.057 --> 00:47:06.697
this is interesting.

00:47:06.737 --> 00:47:07.918
We might come up with an opinion.

00:47:08.378 --> 00:47:10.278
So now they have an opinion.

00:47:10.298 --> 00:47:10.679
Well, they,

00:47:11.889 --> 00:47:12.168
Yeah.

00:47:12.248 --> 00:47:14.190
I mean, the difficulty is that in the UK,

00:47:14.230 --> 00:47:14.710
like there's,

00:47:15.230 --> 00:47:18.030
there's kind of like a bit of a,

00:47:18.050 --> 00:47:19.490
I was about to say a rude word.

00:47:19.530 --> 00:47:20.170
There is a,

00:47:23.311 --> 00:47:26.773
an interaction between the bank

00:47:26.793 --> 00:47:27.634
of England is like,

00:47:27.853 --> 00:47:29.534
we are the ones who guard

00:47:29.554 --> 00:47:30.733
the stability of the economy.

00:47:31.335 --> 00:47:32.295
That's their role, right?

00:47:32.315 --> 00:47:33.534
They're the bank of last resort.

00:47:34.615 --> 00:47:38.036
The FCA are like the regulator, um,

00:47:38.077 --> 00:47:39.277
the financial conduct authority.

00:47:40.568 --> 00:47:41.768
But there's also a third

00:47:41.789 --> 00:47:43.050
regulator just to make

00:47:43.070 --> 00:47:44.429
things really confusing who

00:47:44.469 --> 00:47:46.190
are in the same building, I think,

00:47:46.610 --> 00:47:49.690
as the FCA or their next door.

00:47:50.391 --> 00:47:51.891
But they don't, they don't,

00:47:52.152 --> 00:47:53.391
they're not the same regulator.

00:47:53.411 --> 00:47:54.052
It's very different.

00:47:54.072 --> 00:47:55.833
The payment systems regulator,

00:47:56.512 --> 00:47:57.273
very different,

00:47:57.592 --> 00:47:58.452
even though a lot of the

00:47:58.472 --> 00:48:00.074
staff have worked at one

00:48:00.134 --> 00:48:01.614
and the other is very different.

00:48:02.054 --> 00:48:03.634
Don't, don't do the same thing.

00:48:04.195 --> 00:48:04.635
Yeah.

00:48:04.675 --> 00:48:06.074
Very different remit payment system,

00:48:06.114 --> 00:48:07.795
regulator, FCA don't get them mixed up.

00:48:08.556 --> 00:48:10.155
Um, and all three of them.

00:48:11.764 --> 00:48:13.744
interact on this issue and

00:48:14.184 --> 00:48:15.784
if honestly I literally

00:48:15.824 --> 00:48:19.746
don't even know where the

00:48:19.806 --> 00:48:21.226
line like they don't know

00:48:21.246 --> 00:48:22.987
either like they'll figure

00:48:23.007 --> 00:48:23.568
it out when they get there

00:48:23.588 --> 00:48:25.708
I I had a discussion with

00:48:25.748 --> 00:48:27.289
somebody at thing on

00:48:27.329 --> 00:48:29.530
systemic risk and there

00:48:29.550 --> 00:48:30.271
were people from those

00:48:30.311 --> 00:48:31.811
organizations there and I

00:48:31.851 --> 00:48:34.452
said to somebody I am

00:48:34.492 --> 00:48:36.373
literally a dj I know

00:48:36.452 --> 00:48:39.594
nothing about how these guys interact

00:48:40.509 --> 00:48:43.369
do you know who is responsible for X?

00:48:43.389 --> 00:48:44.269
I can't remember what it was.

00:48:44.309 --> 00:48:45.670
It was just like some like token.

00:48:45.690 --> 00:48:46.931
I was like, as an example,

00:48:47.030 --> 00:48:48.351
who is responsible for this thing?

00:48:48.710 --> 00:48:49.811
And this other person was like,

00:48:52.692 --> 00:48:53.871
it could be any one of those three.

00:48:53.891 --> 00:48:55.432
And I'm just like, okay, cool.

00:48:55.452 --> 00:48:56.032
Awesome.

00:48:56.072 --> 00:48:56.452
Yeah.

00:48:56.592 --> 00:48:58.932
I think they were just like, look,

00:48:58.972 --> 00:48:59.753
they're just over there.

00:48:59.793 --> 00:49:00.974
If you want to embarrass yourself,

00:49:01.014 --> 00:49:02.634
just go ask one of those, those,

00:49:02.813 --> 00:49:03.793
those guys and they'll make

00:49:03.813 --> 00:49:04.954
you feel real stupid.

00:49:06.735 --> 00:49:07.715
So I probably, yeah,

00:49:07.755 --> 00:49:08.695
I probably should have just done that,

00:49:08.755 --> 00:49:09.496
but I didn't.

00:49:09.536 --> 00:49:10.135
So yeah.

00:49:12.222 --> 00:49:13.603
nice anyway so yeah I mean

00:49:13.643 --> 00:49:15.204
like the the fucking what's

00:49:15.244 --> 00:49:16.005
it called the glorious

00:49:16.025 --> 00:49:17.626
stable coin future is is is

00:49:17.686 --> 00:49:19.768
soon it's coming well yeah

00:49:19.789 --> 00:49:21.449
I mean now in england or

00:49:21.489 --> 00:49:22.771
don't because it's still

00:49:22.791 --> 00:49:23.612
going to get right I mean

00:49:23.731 --> 00:49:24.652
it's actually I think it

00:49:24.693 --> 00:49:25.634
already is regulated

00:49:25.713 --> 00:49:26.554
actually stable coins are

00:49:26.574 --> 00:49:27.574
already regulated so don't

00:49:27.615 --> 00:49:29.456
launch your shit coin or do

00:49:29.516 --> 00:49:30.597
launch a shit coin don't

00:49:30.637 --> 00:49:32.199
launch a don't launch a

00:49:32.219 --> 00:49:34.181
stable coin and don't

00:49:34.221 --> 00:49:34.981
promote your shit coin

00:49:35.001 --> 00:49:36.222
because then you will break

00:49:36.262 --> 00:49:37.103
the fca's rules

00:49:38.530 --> 00:49:38.789
Yeah.

00:49:38.809 --> 00:49:40.231
Don't launch it privately

00:49:40.251 --> 00:49:41.092
and don't post about it on

00:49:41.112 --> 00:49:43.853
Twitter or blue sky or

00:49:44.014 --> 00:49:45.855
whichever platform you

00:49:45.875 --> 00:49:49.378
prefer to use word word

00:49:49.398 --> 00:49:51.398
advice or regulatory advice

00:49:51.778 --> 00:49:52.539
or legal advice.

00:49:55.521 --> 00:49:56.643
Game notes, baby.

00:49:58.976 --> 00:50:01.697
I did find, I've been looking for a,

00:50:01.777 --> 00:50:02.436
not to switch topics,

00:50:02.456 --> 00:50:03.057
but I've been looking for a

00:50:03.077 --> 00:50:04.838
way to back the payments,

00:50:04.998 --> 00:50:06.259
but on the opposite side.

00:50:06.278 --> 00:50:07.679
I've been trying to find a

00:50:07.699 --> 00:50:08.480
decent tool set to do

00:50:08.519 --> 00:50:11.041
crypto invoices and

00:50:11.081 --> 00:50:12.561
something that would allow

00:50:12.981 --> 00:50:14.722
the ability to get paid,

00:50:14.922 --> 00:50:16.342
either stable or anything else, honestly.

00:50:17.043 --> 00:50:18.483
um but like that actually is

00:50:18.503 --> 00:50:19.985
a like really reasonable

00:50:20.126 --> 00:50:21.646
invoice structure allows

00:50:21.686 --> 00:50:22.288
the ability to create

00:50:22.307 --> 00:50:23.268
invoices obviously allows

00:50:23.289 --> 00:50:24.630
to be able to send those be

00:50:24.650 --> 00:50:26.070
able to close those have a

00:50:26.110 --> 00:50:27.032
nice interface for that for

00:50:27.072 --> 00:50:27.893
people to be able to pay

00:50:28.273 --> 00:50:30.315
amounts um and I think I

00:50:30.335 --> 00:50:30.855
might have found one

00:50:30.894 --> 00:50:32.376
actually which is kind of interesting so

00:50:34.237 --> 00:50:36.380
I think from our perspective,

00:50:36.400 --> 00:50:38.663
we just want something that is like that,

00:50:38.702 --> 00:50:39.623
but we'll just integrate

00:50:39.664 --> 00:50:43.648
with existing like accounting tools.

00:50:43.768 --> 00:50:44.429
That's what I found.

00:50:44.668 --> 00:50:45.489
That's exactly what I want.

00:50:45.710 --> 00:50:46.972
I just want it when I create an invoice,

00:50:46.992 --> 00:50:48.594
have it go create one in

00:50:48.653 --> 00:50:50.295
QBO or in Xero or whatever else.

00:50:50.896 --> 00:50:52.317
if they pay it market is

00:50:52.356 --> 00:50:53.617
being closed and mark the

00:50:53.677 --> 00:50:54.617
payment as you know as

00:50:54.679 --> 00:50:56.260
received like basic you

00:50:56.280 --> 00:50:58.280
know what I mean um with a

00:50:58.340 --> 00:50:59.342
nice little interface to it

00:50:59.402 --> 00:51:00.762
nothing crazy just email it

00:51:00.862 --> 00:51:02.864
out put my logo on it uh

00:51:02.884 --> 00:51:03.764
because I think the issue

00:51:03.923 --> 00:51:06.005
we have is is it's like we

00:51:06.025 --> 00:51:06.865
don't want to take a ton

00:51:07.367 --> 00:51:09.047
but whatever we whatever

00:51:09.088 --> 00:51:10.128
amounts that we take in are

00:51:10.148 --> 00:51:11.349
all the same like for the

00:51:11.369 --> 00:51:12.829
most part and so trying to

00:51:12.869 --> 00:51:14.251
like track people down to

00:51:14.271 --> 00:51:15.271
say hey they paid it like

00:51:15.351 --> 00:51:16.693
where like I can't see it is it

00:51:17.478 --> 00:51:18.418
this one there's two coming

00:51:18.438 --> 00:51:19.460
from binance god damn it

00:51:19.820 --> 00:51:21.300
like you can't track it so

00:51:21.621 --> 00:51:22.742
um I did find something

00:51:22.762 --> 00:51:23.603
else sent to you like it's

00:51:23.742 --> 00:51:25.344
it's actually it's early

00:51:25.443 --> 00:51:26.505
like it's like it's a

00:51:26.525 --> 00:51:27.585
little bit I've been giving

00:51:27.606 --> 00:51:28.445
them feedback on a bunch of

00:51:28.465 --> 00:51:29.907
stuff because some stuff is

00:51:30.126 --> 00:51:33.190
just not it works um but it

00:51:33.389 --> 00:51:34.590
isn't exactly how I want it

00:51:34.610 --> 00:51:35.371
and it's like well maybe

00:51:35.550 --> 00:51:36.211
what would you guys think

00:51:36.231 --> 00:51:36.911
about doing this it was

00:51:36.931 --> 00:51:38.172
like some branding type

00:51:38.193 --> 00:51:39.353
things or the ability to

00:51:39.393 --> 00:51:40.574
copy invoices like they

00:51:40.614 --> 00:51:41.456
don't do recurring right

00:51:41.496 --> 00:51:42.577
now which I need to which

00:51:42.677 --> 00:51:44.277
they're working on invoices

00:51:44.338 --> 00:51:45.639
otherwise kill me now

00:51:45.958 --> 00:51:46.539
Yeah, exactly.

00:51:46.579 --> 00:51:46.760
Like,

00:51:46.940 --> 00:51:48.320
like I did the ability just to

00:51:48.360 --> 00:51:49.681
duplicate it at the very least,

00:51:49.702 --> 00:51:51.264
or just set up recurring, um,

00:51:51.284 --> 00:51:52.125
which would be nice.

00:51:52.545 --> 00:51:53.545
Um, yeah, so,

00:51:53.786 --> 00:51:54.606
so I actually found something

00:51:54.907 --> 00:51:55.827
I can share what it is.

00:51:55.847 --> 00:51:56.509
I don't really matter.

00:51:56.909 --> 00:52:00.132
Um, but I, I demoed a couple and, uh,

00:52:00.152 --> 00:52:01.253
I don't know if I can find it.

00:52:01.273 --> 00:52:01.753
I'll, I'll,

00:52:01.853 --> 00:52:02.914
I'll look for it while I'm going to,

00:52:02.954 --> 00:52:03.815
but I actually found something that's,

00:52:03.835 --> 00:52:04.695
that's somewhat reasonable.

00:52:04.775 --> 00:52:05.476
So I'm going to give it a

00:52:05.516 --> 00:52:07.338
shot in December and see how it works.

00:52:07.639 --> 00:52:08.239
Just get it going.

00:52:09.059 --> 00:52:09.219
Um,

00:52:09.920 --> 00:52:11.242
and see if that, I mean,

00:52:11.282 --> 00:52:11.862
we actually have pretty

00:52:11.882 --> 00:52:14.224
good DSO or day sales outstanding, like,

00:52:14.284 --> 00:52:15.244
which means that the time

00:52:15.264 --> 00:52:16.025
between when we send

00:52:16.045 --> 00:52:17.206
something and when we get paid,

00:52:17.706 --> 00:52:19.007
that's usually pretty, pretty small.

00:52:19.688 --> 00:52:19.967
Um,

00:52:19.987 --> 00:52:22.188
the issue for me is reconciliation and

00:52:22.268 --> 00:52:22.909
trying to figure out what

00:52:22.929 --> 00:52:23.550
the hell is what.

00:52:23.690 --> 00:52:25.711
And that means I want to invoice less,

00:52:25.751 --> 00:52:26.652
which is not a really good

00:52:26.693 --> 00:52:27.793
thing in business.

00:52:28.673 --> 00:52:29.253
It's not really the,

00:52:29.695 --> 00:52:30.074
it's not the right

00:52:30.155 --> 00:52:31.135
motivation you want to create.

00:52:32.135 --> 00:52:33.936
You can't just, uh,

00:52:34.137 --> 00:52:36.398
and then you don't have to

00:52:36.418 --> 00:52:37.360
invoice a tool cause you're

00:52:37.380 --> 00:52:38.079
not making money.

00:52:38.119 --> 00:52:38.940
That's kind of my,

00:52:39.693 --> 00:52:40.414
Nope.

00:52:40.454 --> 00:52:41.554
Yeah, nobody puts a memo in.

00:52:41.594 --> 00:52:42.976
My plan for the last year

00:52:43.235 --> 00:52:44.958
was to reduce the voicing overhead.

00:52:45.938 --> 00:52:50.302
Yeah, nobody puts a memo in.

00:52:50.682 --> 00:52:52.264
Nobody sends me the transaction ID.

00:52:54.099 --> 00:52:55.778
Just I get either it's paid or it's not,

00:52:55.898 --> 00:52:57.260
or I do a follow-up email

00:52:57.280 --> 00:52:58.440
with a reminder when it's

00:52:58.539 --> 00:52:59.480
after it's due and they go,

00:52:59.500 --> 00:53:00.280
I've already paid this.

00:53:00.721 --> 00:53:01.420
And I go, okay,

00:53:01.440 --> 00:53:03.481
can you please go back in

00:53:03.501 --> 00:53:05.521
your life and send me how

00:53:05.581 --> 00:53:07.021
you did this and when, and they're like,

00:53:07.041 --> 00:53:08.181
God damn it.

00:53:08.242 --> 00:53:09.063
So yeah.

00:53:09.083 --> 00:53:09.762
So I'm just trying to find

00:53:09.782 --> 00:53:11.143
something that's like way, way, way,

00:53:11.163 --> 00:53:11.643
way easier.

00:53:12.242 --> 00:53:14.063
So we'll see how it goes.

00:53:14.083 --> 00:53:17.965
I think like, again,

00:53:17.985 --> 00:53:18.784
it's just trying to find

00:53:18.844 --> 00:53:20.485
ways to reduce friction.

00:53:20.525 --> 00:53:22.065
Like just don't even want to,

00:53:22.945 --> 00:53:23.485
I don't even want to,

00:53:25.322 --> 00:53:26.143
It should be easy, right?

00:53:26.184 --> 00:53:28.646
What the hell?

00:53:28.766 --> 00:53:29.467
Oh, Rahm is out.

00:53:29.706 --> 00:53:30.827
Rahm is back with a spanner.

00:53:30.847 --> 00:53:35.351
He's back with a spanner.

00:53:35.371 --> 00:53:35.692
What was it?

00:53:35.711 --> 00:53:36.793
It was almost an hour.

00:53:36.853 --> 00:53:37.512
Forty-five minutes, maybe?

00:53:37.552 --> 00:53:39.275
I forget when I banned him.

00:53:39.295 --> 00:53:40.135
It's a good amount of time.

00:53:40.576 --> 00:53:40.695
Yeah,

00:53:40.755 --> 00:53:42.717
it's good that I can... Even though

00:53:42.737 --> 00:53:44.719
he's a moderator, you can still ban him.

00:53:44.739 --> 00:53:45.280
That's important.

00:53:46.672 --> 00:53:47.994
moderator going going off

00:53:48.014 --> 00:53:49.114
that tree how did you even

00:53:49.155 --> 00:53:50.836
make him a moderator I I

00:53:50.856 --> 00:53:51.538
don't know somewhere on

00:53:51.557 --> 00:53:52.539
youtube I thought maybe

00:53:52.559 --> 00:53:53.619
that would would bring him

00:53:53.659 --> 00:53:55.561
out of the band hammer so

00:53:55.762 --> 00:53:57.983
he's got a little spanner g

00:53:58.003 --> 00:54:04.190
mega I don't know figure it

00:54:04.230 --> 00:54:08.052
out you'll have to google

00:54:08.072 --> 00:54:09.614
it what else is going on

00:54:12.061 --> 00:54:13.061
lots of test nets at the

00:54:13.101 --> 00:54:13.882
moment I've noticed that

00:54:13.922 --> 00:54:16.503
there is quite a lot of avs

00:54:16.623 --> 00:54:18.644
related test nets everyone

00:54:18.684 --> 00:54:20.846
claiming to be the the omni

00:54:20.865 --> 00:54:24.108
chain yeah yeah this is all

00:54:24.148 --> 00:54:25.228
the individual chains have

00:54:25.288 --> 00:54:29.951
no liquidity uh I don't know

00:54:32.855 --> 00:54:33.034
Yeah.

00:54:33.074 --> 00:54:33.996
Well, so we're in a period,

00:54:34.036 --> 00:54:35.836
like we've had two, two years of,

00:54:36.117 --> 00:54:37.056
of bear market.

00:54:37.277 --> 00:54:39.057
So they decided that this

00:54:39.077 --> 00:54:41.239
decentralization shit didn't work.

00:54:41.458 --> 00:54:42.679
So it's time to centralize

00:54:42.699 --> 00:54:45.260
that shit into one true

00:54:46.721 --> 00:54:50.922
liquid staking protocol or whatever.

00:54:51.003 --> 00:54:51.163
Yeah.

00:54:51.242 --> 00:54:53.664
ABS is our, uh, uh, yeah, I don't know.

00:54:59.132 --> 00:54:59.713
I hope it turns into

00:54:59.733 --> 00:55:02.514
something that's it's right now.

00:55:02.594 --> 00:55:02.775
I mean,

00:55:03.255 --> 00:55:04.315
I think she'll see probably as the more,

00:55:04.434 --> 00:55:06.456
most of these running within Eigen,

00:55:06.536 --> 00:55:08.536
but yeah,

00:55:08.597 --> 00:55:09.358
I think that idea is going to

00:55:09.378 --> 00:55:11.599
show up in other, other chains as well.

00:55:12.878 --> 00:55:13.639
Like just the ability to,

00:55:14.739 --> 00:55:15.900
to do something with stake

00:55:15.920 --> 00:55:17.541
funds and with liquidity

00:55:17.601 --> 00:55:18.402
and use it in other types

00:55:18.422 --> 00:55:19.862
of tool sets and all that kind of shit.

00:55:20.121 --> 00:55:21.023
Like we might say that elsewhere.

00:55:22.271 --> 00:55:23.130
Um, yeah.

00:55:23.291 --> 00:55:24.311
And Roman asked anybody

00:55:24.331 --> 00:55:25.032
excited for initial?

00:55:25.052 --> 00:55:27.913
We are excited, but for initial, um, it's,

00:55:28.494 --> 00:55:28.873
it's funny.

00:55:28.934 --> 00:55:30.094
It feels like it's been

00:55:30.835 --> 00:55:32.815
ready for mainnet for a while.

00:55:34.396 --> 00:55:36.257
There are a number of chains like that,

00:55:36.336 --> 00:55:37.257
that are just waiting for

00:55:37.677 --> 00:55:39.777
more favorable market conditions.

00:55:40.038 --> 00:55:40.338
Yeah.

00:55:42.639 --> 00:55:43.659
Um, I can be waiting a while.

00:55:47.251 --> 00:55:49.012
Today there's a security patch,

00:55:50.932 --> 00:55:51.853
but I haven't seen anything

00:55:51.873 --> 00:55:55.373
about actual Genesis coming.

00:55:55.393 --> 00:55:56.074
I mean,

00:55:56.114 --> 00:55:59.534
isn't Alio the absolute meme of that?

00:56:00.255 --> 00:56:02.335
They've been ready for a while.

00:56:03.016 --> 00:56:03.456
Alio is launched.

00:56:03.476 --> 00:56:04.137
It is launched.

00:56:05.436 --> 00:56:06.237
Is it finally launched?

00:56:06.876 --> 00:56:07.637
It has been launched.

00:56:10.599 --> 00:56:11.318
It is launched.

00:56:11.739 --> 00:56:13.780
It's got a silent mainnet, right?

00:56:13.900 --> 00:56:14.920
Is that what it was?

00:56:16.936 --> 00:56:17.858
I don't know I think they

00:56:17.938 --> 00:56:22.420
launched and yeah happy

00:56:22.481 --> 00:56:26.885
days yeah our man's gone so

00:56:26.905 --> 00:56:27.865
wait they launched and

00:56:27.885 --> 00:56:28.987
you're not on a beach yet

00:56:29.166 --> 00:56:30.668
what the fuck we're not in

00:56:30.688 --> 00:56:32.289
it well we're not in it I

00:56:32.309 --> 00:56:33.771
think there's only there's

00:56:33.791 --> 00:56:34.532
only well they launched

00:56:34.672 --> 00:56:36.432
they launched with what was

00:56:36.452 --> 00:56:37.414
it like maybe twelve

00:56:38.467 --> 00:56:39.487
Yeah, just a handful.

00:56:39.568 --> 00:56:40.469
And there's only one friend

00:56:40.509 --> 00:56:41.809
of the podcast in there.

00:56:43.510 --> 00:56:44.492
They messed up a couple of

00:56:44.512 --> 00:56:46.693
things with inflation and stuff.

00:56:46.733 --> 00:56:48.554
And there was some prolific selling,

00:56:48.574 --> 00:56:49.755
which absolutely fucking

00:56:49.775 --> 00:56:50.996
destroyed the token value.

00:56:51.036 --> 00:56:52.498
So I think there's a lot of

00:56:52.538 --> 00:56:53.818
thinking going on there at the moment.

00:56:53.838 --> 00:56:55.119
A lot of thinking.

00:56:55.559 --> 00:56:56.219
Hard thinking.

00:56:56.780 --> 00:56:58.342
A lot of head scratching, yeah.

00:56:58.402 --> 00:57:00.664
From their private yacht.

00:57:00.744 --> 00:57:01.644
I think there's probably a

00:57:01.664 --> 00:57:04.065
lot of stress floating around over there.

00:57:04.146 --> 00:57:05.788
No, I think what happened...

00:57:06.518 --> 00:57:07.699
What happened was that there

00:57:07.719 --> 00:57:11.119
was a way I understand it,

00:57:12.141 --> 00:57:13.400
that as Noel said,

00:57:13.661 --> 00:57:15.201
there was an issue with,

00:57:15.701 --> 00:57:16.322
there was actually a

00:57:16.342 --> 00:57:17.521
technical issue that was incorrect.

00:57:17.541 --> 00:57:18.322
It's a block speed issue.

00:57:18.961 --> 00:57:20.023
It's a block speed issue

00:57:20.083 --> 00:57:20.963
that was incorrect,

00:57:20.983 --> 00:57:21.882
maybe because the number of

00:57:21.922 --> 00:57:22.722
valves or something else,

00:57:22.762 --> 00:57:23.903
but it was basically

00:57:23.943 --> 00:57:27.264
progressing way faster and

00:57:27.344 --> 00:57:28.485
the emissions were higher.

00:57:28.525 --> 00:57:29.244
Were the emissions higher

00:57:29.264 --> 00:57:30.284
than what they should have been?

00:57:30.324 --> 00:57:31.706
Way higher, yeah.

00:57:31.746 --> 00:57:33.146
So there was massive

00:57:33.186 --> 00:57:34.025
emissions out to an

00:57:34.065 --> 00:57:35.806
extremely small valve set.

00:57:37.266 --> 00:57:38.208
had stake tokens from

00:57:38.228 --> 00:57:38.949
foundation and from

00:57:39.088 --> 00:57:40.010
investors and all that kind

00:57:40.030 --> 00:57:41.831
of stuff valsat was selling

00:57:41.952 --> 00:57:43.634
off at extremely large

00:57:43.673 --> 00:57:47.018
numbers like but you would

00:57:47.057 --> 00:57:49.280
have to imagine so would be

00:57:49.340 --> 00:57:52.043
the the you know vcs and

00:57:52.063 --> 00:57:53.083
stuff that was staked as

00:57:53.123 --> 00:57:56.427
well maybe I don't know

00:57:56.628 --> 00:57:59.070
validators were selling off like hotcakes

00:57:59.530 --> 00:58:00.831
but but those those other

00:58:00.871 --> 00:58:01.572
entities might have

00:58:01.612 --> 00:58:02.572
contracts that that

00:58:03.092 --> 00:58:03.992
preclude them from doing

00:58:04.032 --> 00:58:06.032
that like if I was if I was

00:58:06.072 --> 00:58:07.072
taking money in there would

00:58:07.092 --> 00:58:08.934
be clear rules around when

00:58:08.954 --> 00:58:09.934
those vcs could sell and

00:58:09.954 --> 00:58:10.753
not sell right I mean

00:58:11.054 --> 00:58:12.474
obviously right because you

00:58:12.494 --> 00:58:13.815
wouldn't want what are you

00:58:13.855 --> 00:58:15.014
gonna do you're gonna it

00:58:15.036 --> 00:58:15.635
over and they wouldn't want

00:58:15.655 --> 00:58:16.416
to do that anyway right

00:58:16.436 --> 00:58:17.795
because they're not in it

00:58:17.835 --> 00:58:19.237
for going to mainnet and

00:58:19.257 --> 00:58:20.237
having a make-believe token

00:58:20.257 --> 00:58:21.117
and selling it all and

00:58:21.137 --> 00:58:21.998
saying this and walking

00:58:22.038 --> 00:58:23.237
away they would never get

00:58:23.257 --> 00:58:25.518
work again right so so

00:58:25.918 --> 00:58:26.639
unlike those vowels

00:58:28.219 --> 00:58:29.621
like I don't know who that I

00:58:29.681 --> 00:58:30.722
don't know all those groups

00:58:30.762 --> 00:58:31.722
in there but if you're

00:58:31.762 --> 00:58:33.682
selling at seven figures a

00:58:33.722 --> 00:58:36.385
week you're never you're

00:58:36.505 --> 00:58:37.326
never going to be involved

00:58:37.346 --> 00:58:38.166
anything I involved in

00:58:38.266 --> 00:58:39.286
right like you would never

00:58:39.347 --> 00:58:41.869
do that that's crazy well I

00:58:41.909 --> 00:58:43.068
think one of the vows was

00:58:43.108 --> 00:58:44.409
selling at seven figures a

00:58:44.449 --> 00:58:46.612
week yeah like what the

00:58:46.751 --> 00:58:49.273
fuck dude that's insanity

00:58:49.733 --> 00:58:53.175
yeah but also you know boys would be boys

00:58:54.913 --> 00:58:56.114
I mean, there's no rules around it.

00:58:56.253 --> 00:58:56.494
Sure.

00:58:56.994 --> 00:58:57.974
I mean, I guess I can.

00:58:58.074 --> 00:58:59.617
Hey, the game, not the player, man.

00:58:59.657 --> 00:59:01.177
They made a technical mistake.

00:59:03.059 --> 00:59:04.239
But I would share that with

00:59:04.300 --> 00:59:05.320
every single foundation.

00:59:06.380 --> 00:59:06.601
Sure.

00:59:07.461 --> 00:59:09.023
Everything beyond this.

00:59:09.043 --> 00:59:10.143
Would you ever involve that

00:59:10.164 --> 00:59:12.565
group in another token and say, hey,

00:59:12.746 --> 00:59:14.867
back here, this inflation issue was here.

00:59:15.188 --> 00:59:16.367
There was a mistake in the numbers.

00:59:16.489 --> 00:59:17.309
They were selling it a

00:59:17.349 --> 00:59:18.210
couple hundred thousand a day.

00:59:19.514 --> 00:59:21.175
Before the token was really even launched,

00:59:21.795 --> 00:59:23.538
like there's any retail usage,

00:59:23.858 --> 00:59:25.219
it was just literally dumping.

00:59:25.780 --> 00:59:27.780
Yeah, but if you had... Okay,

00:59:27.800 --> 00:59:29.001
so I'm just playing devil's

00:59:29.041 --> 00:59:29.543
advocate here.

00:59:29.563 --> 00:59:30.724
You're obviously not involved in it,

00:59:30.764 --> 00:59:31.864
but whatever.

00:59:31.885 --> 00:59:33.246
Let's say you have... You're

00:59:33.266 --> 00:59:34.166
a slightly bigger VAL.

00:59:34.306 --> 00:59:35.126
You have a board.

00:59:35.307 --> 00:59:36.068
You have people that are

00:59:36.088 --> 00:59:37.429
going to hold you to account, right?

00:59:38.230 --> 00:59:39.891
And you see that and you go

00:59:39.931 --> 00:59:41.753
like... You ask somebody, hey,

00:59:41.773 --> 00:59:43.074
what's the value of this token right now?

00:59:43.094 --> 00:59:43.934
And they go, okay, this.

00:59:43.954 --> 00:59:44.775
And you go, oh, shit.

00:59:44.815 --> 00:59:46.056
Okay, so how much are we making a week?

00:59:46.097 --> 00:59:47.036
And they go like, oh, this.

00:59:47.056 --> 00:59:47.538
And you go like...

00:59:48.518 --> 00:59:48.860
Right.

00:59:48.940 --> 00:59:50.501
So you're telling me that if we sell now,

00:59:50.802 --> 00:59:52.324
we're going to make seven figures a week.

00:59:53.226 --> 00:59:54.286
And if we don't sell now,

00:59:55.108 --> 00:59:56.329
we are going to have the

00:59:56.389 --> 00:59:57.331
moral high ground.

00:59:58.652 --> 01:00:00.355
I'm really looking forward

01:00:00.375 --> 01:00:01.335
to telling our board.

01:00:02.300 --> 01:00:04.282
when we discuss our earnings this quarter,

01:00:04.822 --> 01:00:06.143
that we took the moral high ground,

01:00:06.282 --> 01:00:06.983
that is going to be,

01:00:07.643 --> 01:00:08.382
that's going to be tip top.

01:00:08.402 --> 01:00:10.503
I mean, I guess it's, you're,

01:00:10.664 --> 01:00:14.445
you're taking profits today for, or a, I,

01:00:14.585 --> 01:00:15.445
in my eyes, I think,

01:00:15.646 --> 01:00:16.606
I think you have a fucking

01:00:16.927 --> 01:00:18.608
destroyed business after that point.

01:00:21.009 --> 01:00:21.909
I, how many validators,

01:00:22.688 --> 01:00:23.269
how many of those big

01:00:23.289 --> 01:00:24.369
validator companies have

01:00:24.389 --> 01:00:27.570
just flat out double signed?

01:00:27.690 --> 01:00:29.032
Yeah, that's, that's incompetence though.

01:00:29.597 --> 01:00:29.958
Yeah, I know,

01:00:29.978 --> 01:00:33.123
but this is no... User funds got lost.

01:00:33.282 --> 01:00:36.068
This is... The only people

01:00:36.088 --> 01:00:36.568
that have got...

01:00:38.050 --> 01:00:38.349
Well, sure,

01:00:38.389 --> 01:00:39.690
but user funds haven't got lost

01:00:39.710 --> 01:00:40.811
because it's pre-set.

01:00:40.992 --> 01:00:41.972
Yeah, yeah, yeah.

01:00:42.012 --> 01:00:42.552
No, I know.

01:00:42.572 --> 01:00:43.914
The token tag has been knocked,

01:00:43.954 --> 01:00:46.474
but you just reach out to

01:00:46.494 --> 01:00:47.615
the validator and you say, hey, yo,

01:00:47.635 --> 01:00:48.295
can you stop selling?

01:00:48.315 --> 01:00:50.297
I'm not saying it's illegal.

01:00:50.318 --> 01:00:50.958
I don't think it's illegal.

01:00:51.597 --> 01:00:52.159
I'm just saying,

01:00:54.559 --> 01:00:55.481
I totally understand your point,

01:00:55.880 --> 01:00:56.601
and I agree with you.

01:00:56.902 --> 01:00:57.802
We don't have a board like

01:00:57.822 --> 01:00:59.302
that that would be pushing that and say,

01:00:59.784 --> 01:01:00.983
why did you leave three

01:01:01.023 --> 01:01:01.864
million dollars on the table?

01:01:02.005 --> 01:01:03.226
Right?

01:01:03.525 --> 01:01:05.567
I think that's, or whatever that number is,

01:01:05.626 --> 01:01:05.786
right?

01:01:05.827 --> 01:01:06.867
Whatever, three hundred thousand dollars.

01:01:08.005 --> 01:01:08.666
I totally agree with you.

01:01:08.686 --> 01:01:09.887
That's a difficult decision to make.

01:01:10.347 --> 01:01:11.969
Also, you would have to be in,

01:01:12.009 --> 01:01:13.250
you'd have to be in contact with that,

01:01:13.289 --> 01:01:16.291
with, with that layout team to say this,

01:01:16.692 --> 01:01:17.612
we have to do something

01:01:17.652 --> 01:01:19.393
here and we have to work

01:01:19.452 --> 01:01:20.333
out an agreement of what

01:01:20.353 --> 01:01:21.034
we're going to do,

01:01:21.434 --> 01:01:23.416
because I do think that,

01:01:23.456 --> 01:01:24.817
that that's a really tough,

01:01:25.197 --> 01:01:26.458
that's a tough business

01:01:26.498 --> 01:01:27.577
position to be in on both

01:01:27.637 --> 01:01:29.980
sides because there's both

01:01:30.000 --> 01:01:30.699
a technical mistake.

01:01:31.181 --> 01:01:32.201
It's not, it's not prop.

01:01:32.221 --> 01:01:32.320
Right.

01:01:32.340 --> 01:01:36.563
But that, I mean, that was like,

01:01:37.829 --> 01:01:39.351
not the same but you you're

01:01:39.371 --> 01:01:40.471
in a situation where you

01:01:40.510 --> 01:01:42.751
have a situation that that

01:01:43.072 --> 01:01:44.072
um there's a legal right to

01:01:44.092 --> 01:01:44.773
be able to do something but

01:01:44.793 --> 01:01:46.014
at the same point does that

01:01:46.094 --> 01:01:47.173
legal right the best

01:01:47.233 --> 01:01:48.295
interest of all the parties

01:01:48.315 --> 01:01:50.135
involved and in that case I

01:01:50.155 --> 01:01:50.695
would think it probably

01:01:50.715 --> 01:01:52.436
wouldn't be like because

01:01:52.476 --> 01:01:53.956
that like that group I I

01:01:53.976 --> 01:01:55.557
lost I mean these are I

01:01:55.577 --> 01:01:56.898
hate to tell you you said

01:01:57.039 --> 01:01:58.880
but leo tapping the sign

01:01:59.440 --> 01:02:01.380
yeah as as an academic who

01:02:01.420 --> 01:02:02.721
works on these right now

01:02:02.860 --> 01:02:05.623
like it is zero it is a low trust

01:02:06.242 --> 01:02:08.543
permissionless decentralized system.

01:02:09.523 --> 01:02:11.025
And that's, that is the point.

01:02:11.105 --> 01:02:11.945
That is the point,

01:02:11.965 --> 01:02:13.385
the very point of the protocol,

01:02:13.405 --> 01:02:14.326
the configuration,

01:02:14.365 --> 01:02:15.686
the foundations involvement.

01:02:16.746 --> 01:02:18.648
You are allowed to do what,

01:02:18.728 --> 01:02:19.789
and I know you're, you're saying this,

01:02:19.829 --> 01:02:19.929
right?

01:02:19.949 --> 01:02:21.228
You're allowed to do whatever the economic,

01:02:21.248 --> 01:02:22.650
whatever the fuck you want.

01:02:22.750 --> 01:02:22.869
Right.

01:02:23.626 --> 01:02:24.985
I, whether that's the right thing to do.

01:02:25.085 --> 01:02:25.226
Yeah.

01:02:25.266 --> 01:02:27.246
I take your point, but I think,

01:02:27.427 --> 01:02:28.646
I think it's in their right to do it.

01:02:28.686 --> 01:02:29.626
You as a node operator,

01:02:29.666 --> 01:02:30.427
you have to tell the

01:02:30.467 --> 01:02:32.027
foundation there's been a mistake here,

01:02:32.088 --> 01:02:32.307
dude.

01:02:32.668 --> 01:02:33.228
Yeah.

01:02:33.268 --> 01:02:34.309
You guys need to fix this.

01:02:34.829 --> 01:02:34.929
Right.

01:02:34.969 --> 01:02:37.128
But I think at the same time, it's, it's,

01:02:37.389 --> 01:02:39.150
it's, is it that dissimilar from like,

01:02:39.170 --> 01:02:39.349
you know,

01:02:39.369 --> 01:02:40.690
back in the day when a token

01:02:40.710 --> 01:02:42.449
first launch and it got

01:02:42.489 --> 01:02:43.951
listed on osmosis and then

01:02:44.510 --> 01:02:45.291
sometimes they weren't even

01:02:45.331 --> 01:02:46.331
traded yet at that point.

01:02:46.391 --> 01:02:46.891
And it was just,

01:02:46.992 --> 01:02:47.831
they were just waiting for

01:02:47.871 --> 01:02:51.813
the token to stabilize, you know, um,

01:02:51.833 --> 01:02:53.193
validators sold at that point.

01:02:55.614 --> 01:02:56.335
That's not really any different.

01:02:56.635 --> 01:02:57.617
We did that on Stargate.

01:02:57.637 --> 01:02:58.159
And do you know what?

01:02:58.219 --> 01:02:59.159
The only reason we could

01:02:59.219 --> 01:03:02.284
sustain two plus years,

01:03:02.324 --> 01:03:03.847
three years of losses on

01:03:03.887 --> 01:03:05.429
that validator was because

01:03:05.568 --> 01:03:08.193
we took fifteen K profit or

01:03:08.233 --> 01:03:10.697
twenty K profit in that first week.

01:03:10.717 --> 01:03:11.498
You know?

01:03:11.577 --> 01:03:11.657
Yeah.

01:03:13.240 --> 01:03:13.400
Again,

01:03:13.722 --> 01:03:14.862
we didn't have a lot of stake tokens

01:03:14.882 --> 01:03:15.242
at that point,

01:03:15.262 --> 01:03:16.644
so we hadn't generated a lot of emissions,

01:03:16.684 --> 01:03:17.686
but we just went, okay,

01:03:17.726 --> 01:03:18.706
the token price is higher

01:03:18.726 --> 01:03:19.788
than it's going to be for a long time.

01:03:20.547 --> 01:03:21.548
This, I mean, that is,

01:03:22.309 --> 01:03:25.172
people were saying at the time, okay,

01:03:25.193 --> 01:03:25.413
granted,

01:03:25.472 --> 01:03:26.614
it's like twenty thousand dollars

01:03:26.653 --> 01:03:27.715
or fifteen thousand dollars or something,

01:03:28.496 --> 01:03:29.938
then to run a validator at

01:03:29.998 --> 01:03:30.938
like however many,

01:03:32.239 --> 01:03:32.880
I don't even want to know

01:03:32.900 --> 01:03:33.581
how much money we've lost

01:03:33.601 --> 01:03:34.581
on that validator every time, whatever,

01:03:34.681 --> 01:03:35.362
not important.

01:03:36.706 --> 01:03:38.128
It's a different order of magnitude,

01:03:38.148 --> 01:03:38.489
the number.

01:03:38.588 --> 01:03:39.070
I get that.

01:03:39.130 --> 01:03:41.391
But the situation is similar

01:03:41.411 --> 01:03:42.713
in that people were saying

01:03:42.753 --> 01:03:45.036
these validators are dumping on people,

01:03:45.135 --> 01:03:47.057
even though there were no retail yet.

01:03:47.237 --> 01:03:47.878
There was no retail.

01:03:48.800 --> 01:03:51.163
Nobody was getting dumped on.

01:03:51.202 --> 01:03:52.403
The token was losing value

01:03:52.423 --> 01:03:53.164
because people were selling.

01:03:53.264 --> 01:03:56.148
But I don't know.

01:03:56.427 --> 01:03:57.869
Did you sell any tokens in that period,

01:03:57.889 --> 01:03:58.010
Nalo?

01:03:58.030 --> 01:03:58.150
No.

01:03:59.329 --> 01:04:00.550
On what?

01:04:00.610 --> 01:04:01.130
As a business.

01:04:01.449 --> 01:04:03.411
You were in the early, you know,

01:04:03.590 --> 01:04:04.851
the token price discovery

01:04:04.891 --> 01:04:06.313
period on Stargate.

01:04:06.333 --> 01:04:07.193
There was like a weird

01:04:07.233 --> 01:04:08.934
period where validation was

01:04:08.954 --> 01:04:09.894
basically only people with

01:04:09.934 --> 01:04:11.675
liquid tokens from staking.

01:04:12.596 --> 01:04:14.297
And that was like the price discovery.

01:04:14.436 --> 01:04:15.398
Yeah, we've always,

01:04:16.177 --> 01:04:18.438
we always sell either a

01:04:18.478 --> 01:04:21.440
portion or all of our income every month.

01:04:22.762 --> 01:04:24.603
There you go.

01:04:24.623 --> 01:04:27.023
Looking at this Alio validator set, man,

01:04:27.603 --> 01:04:28.184
one of these...

01:04:30.322 --> 01:04:33.804
uh validators has pocketed a

01:04:34.043 --> 01:04:35.585
almost nine million alio

01:04:37.545 --> 01:04:40.206
which is at today's price

01:04:40.306 --> 01:04:42.007
over there's like twelve

01:04:42.027 --> 01:04:43.608
million dollars that's

01:04:43.708 --> 01:04:45.847
fucking ridiculous they

01:04:45.867 --> 01:04:49.610
have been online for like a month

01:04:52.554 --> 01:04:53.335
A month and a half.

01:04:54.096 --> 01:04:57.418
The lowest take is a million

01:04:58.778 --> 01:04:59.599
and a half dollars.

01:05:00.099 --> 01:05:00.840
Who pays for that?

01:05:01.501 --> 01:05:02.601
At today's shitty price?

01:05:03.422 --> 01:05:04.204
Well, I don't know.

01:05:04.224 --> 01:05:04.844
Who's going to pay for that?

01:05:04.903 --> 01:05:05.864
Market makers, I guess.

01:05:05.945 --> 01:05:07.206
VCs and market makers.

01:05:08.286 --> 01:05:08.746
To be fair,

01:05:08.766 --> 01:05:10.108
they must have market makers

01:05:10.148 --> 01:05:10.969
lined up who are going to

01:05:11.009 --> 01:05:12.429
basically take the L on that.

01:05:13.610 --> 01:05:14.791
I mean, stabilize the price.

01:05:16.516 --> 01:05:16.876
What was it?

01:05:16.956 --> 01:05:17.697
It dropped, what, from, like,

01:05:17.737 --> 01:05:18.777
five dollars to a dollar?

01:05:18.858 --> 01:05:19.858
I'm surprised it stopped at there.

01:05:19.878 --> 01:05:20.059
Like,

01:05:20.539 --> 01:05:21.181
there must have been... It was a

01:05:21.221 --> 01:05:21.661
high... Well,

01:05:21.681 --> 01:05:23.722
it was a high of over... About six-fifty.

01:05:24.724 --> 01:05:25.605
Six-fifty down to a buck?

01:05:25.625 --> 01:05:26.164
Seven bucks.

01:05:26.485 --> 01:05:26.746
Yeah.

01:05:26.786 --> 01:05:26.965
So,

01:05:27.005 --> 01:05:28.688
I think there was a lot sold at that...

01:05:28.987 --> 01:05:30.088
Like, at that initial period.

01:05:30.108 --> 01:05:31.670
It was just shitloads dumped.

01:05:31.751 --> 01:05:32.891
Just fucking dumping.

01:05:33.132 --> 01:05:33.351
Right?

01:05:33.411 --> 01:05:33.932
Just... Yeah.

01:05:35.193 --> 01:05:35.434
I think...

01:05:36.208 --> 01:05:37.670
think the alio foundation

01:05:37.710 --> 01:05:39.190
are now like I I see

01:05:39.231 --> 01:05:40.710
there's um how much did

01:05:40.731 --> 01:05:41.931
they validators that have

01:05:41.952 --> 01:05:44.432
been closed so what does

01:05:44.492 --> 01:05:46.353
that mean I don't well I

01:05:46.614 --> 01:05:47.614
assume that means that they

01:05:47.635 --> 01:05:49.396
can't take delegations

01:05:49.436 --> 01:05:51.677
anymore oh there's one of

01:05:51.697 --> 01:05:52.717
them has a hundred percent

01:05:52.737 --> 01:05:53.518
commission right they've

01:05:53.557 --> 01:05:54.579
taken in three and a half

01:05:54.639 --> 01:05:56.039
million fucking alio just fucking

01:06:00.001 --> 01:06:01.041
He's out of control here, man.

01:06:01.463 --> 01:06:03.023
After one and a half months,

01:06:03.244 --> 01:06:05.184
the lowest take at today's

01:06:05.244 --> 01:06:06.905
price is a million and a half dollars.

01:06:07.186 --> 01:06:09.168
When will there be a Prop.

01:06:09.327 --> 01:06:10.528
XVI on ADA?

01:06:10.548 --> 01:06:14.992
Congratulations, friend of the podcast.

01:06:15.012 --> 01:06:15.612
Fuck me.

01:06:15.972 --> 01:06:17.594
I mean, that is... I don't know.

01:06:17.614 --> 01:06:22.376
I don't know what you do with that.

01:06:22.818 --> 01:06:23.617
To spend all that time...

01:06:24.398 --> 01:06:24.938
This team was in

01:06:25.259 --> 01:06:26.679
development for two years, right?

01:06:26.699 --> 01:06:27.201
Something like that?

01:06:28.221 --> 01:06:28.742
A long time.

01:06:29.481 --> 01:06:30.483
I mean, you raise a shitload,

01:06:30.523 --> 01:06:31.423
you build this vision,

01:06:31.744 --> 01:06:32.804
you work for two years,

01:06:33.664 --> 01:06:36.047
you make this fucking mistake, right?

01:06:36.668 --> 01:06:37.347
And then you have a seven

01:06:37.367 --> 01:06:39.150
dollars price that goes down to one.

01:06:39.210 --> 01:06:40.971
Getting to seven is a long way away.

01:06:42.092 --> 01:06:44.034
And that valuation.

01:06:44.054 --> 01:06:47.036
Getting to seven in this market is a long.

01:06:47.476 --> 01:06:48.557
It might never happen, right?

01:06:50.079 --> 01:06:50.159
Yeah.

01:06:51.090 --> 01:06:53.210
It might be impossible at this point.

01:06:53.431 --> 01:06:53.791
And also,

01:06:53.931 --> 01:06:55.032
I'm not sure what their unlock

01:06:55.072 --> 01:06:55.831
period is and everything else.

01:06:56.092 --> 01:06:56.753
And then plus you have

01:06:57.132 --> 01:06:58.152
foundations unlocking and

01:06:58.172 --> 01:06:58.833
all that type of stuff.

01:06:58.853 --> 01:07:01.054
You're just working backwards.

01:07:01.454 --> 01:07:05.416
It's just a brutal... It's a

01:07:05.456 --> 01:07:06.317
brutal business to be in.

01:07:06.797 --> 01:07:07.637
Yeah, it's pretty mad.

01:07:07.978 --> 01:07:08.378
Like...

01:07:10.088 --> 01:07:11.369
Oh, yeah.

01:07:11.449 --> 01:07:11.650
I mean,

01:07:11.730 --> 01:07:12.730
but it's also like the nature of

01:07:12.750 --> 01:07:13.389
this business, isn't it?

01:07:13.409 --> 01:07:15.490
Like when some teams win, they win big.

01:07:16.311 --> 01:07:17.371
And when some people, you know,

01:07:17.391 --> 01:07:18.931
some teams bring an amazing

01:07:18.972 --> 01:07:19.992
product to market and they

01:07:20.012 --> 01:07:21.952
get absolutely nothing back.

01:07:22.193 --> 01:07:25.414
And some teams bring, you know.

01:07:25.753 --> 01:07:25.833
Yeah,

01:07:25.853 --> 01:07:26.735
but that's not really the point of

01:07:26.755 --> 01:07:27.494
this whole business, right?

01:07:27.514 --> 01:07:29.996
It's not like making money.

01:07:32.677 --> 01:07:33.577
Making money in this way.

01:07:36.264 --> 01:07:37.726
So which way?

01:07:38.387 --> 01:07:39.626
The foundation is looking to make money.

01:07:39.666 --> 01:07:40.588
They want to build a product.

01:07:40.867 --> 01:07:42.608
They want to build a product

01:07:42.628 --> 01:07:43.469
that actually has users and

01:07:43.489 --> 01:07:44.710
that actually grows and all

01:07:44.730 --> 01:07:45.530
that kind of stuff, right?

01:07:45.831 --> 01:07:47.431
I think also all the

01:07:47.452 --> 01:07:49.072
founders want to get rich as fuck.

01:07:49.132 --> 01:07:52.494
Yeah, right.

01:07:52.534 --> 01:07:53.454
Like filthy rich.

01:07:53.534 --> 01:07:55.757
Like real fuck you rich.

01:07:55.797 --> 01:07:58.277
Validator rich.

01:07:58.358 --> 01:07:59.338
What's validator rich?

01:07:59.378 --> 01:08:00.500
I've not heard of this one yet.

01:08:01.920 --> 01:08:02.641
Will it be soon?

01:08:02.721 --> 01:08:04.222
When validator rich?

01:08:05.387 --> 01:08:14.648
So in the one and a half odd month,

01:08:14.688 --> 01:08:15.849
like conservatively one and

01:08:15.889 --> 01:08:19.850
a half months that the

01:08:19.911 --> 01:08:20.990
network's been live,

01:08:21.930 --> 01:08:23.310
the Alio paid in

01:08:23.350 --> 01:08:26.851
commissions is fifty five million.

01:08:27.992 --> 01:08:29.432
Total.

01:08:29.453 --> 01:08:30.292
Were they raised total?

01:08:32.573 --> 01:08:34.274
And the and the

01:08:36.074 --> 01:08:37.435
that dollar value of that on

01:08:37.475 --> 01:08:39.978
today's money is seventy six million.

01:08:41.519 --> 01:08:42.000
That's it.

01:08:42.039 --> 01:08:43.921
Well, that's right.

01:08:44.060 --> 01:08:44.280
Right.

01:08:44.520 --> 01:08:45.061
Is that is that what's

01:08:45.082 --> 01:08:46.823
sitting in walls or that's that's sold?

01:08:46.882 --> 01:08:47.444
That's gone.

01:08:48.043 --> 01:08:50.086
So this is on the Alio Explorer.

01:08:50.105 --> 01:08:51.186
It says total earnings.

01:08:51.287 --> 01:08:54.069
I don't know if that is just

01:08:54.248 --> 01:08:56.170
in commissions or if that is.

01:08:57.832 --> 01:09:01.253
That must be that must be as well,

01:09:01.274 --> 01:09:02.274
because otherwise that is

01:09:02.494 --> 01:09:03.996
otherwise that is just, you know,

01:09:04.036 --> 01:09:04.657
completely.

01:09:05.993 --> 01:09:07.594
like comedy that might be

01:09:07.634 --> 01:09:09.416
all meant right yeah that

01:09:09.456 --> 01:09:10.957
must be all men because

01:09:11.037 --> 01:09:12.417
otherwise you know friends

01:09:12.457 --> 01:09:13.578
of the podcast would would

01:09:13.658 --> 01:09:14.539
literally be on a beach

01:09:14.579 --> 01:09:15.600
right now and we would be

01:09:15.621 --> 01:09:17.341
going no I but I think

01:09:17.362 --> 01:09:17.983
those other numbers are

01:09:18.023 --> 01:09:18.622
right though I mean we've

01:09:18.663 --> 01:09:20.604
had we've had I mean some

01:09:20.625 --> 01:09:21.706
of those vows did pull

01:09:21.765 --> 01:09:22.787
seven eight or seven

01:09:22.806 --> 01:09:24.969
figures a week right I

01:09:25.109 --> 01:09:26.670
think away from just like

01:09:26.689 --> 01:09:27.570
that was you we tracked

01:09:27.591 --> 01:09:29.632
that uh yeah well yeah the

01:09:29.672 --> 01:09:31.293
number two one was yeah

01:09:32.076 --> 01:09:32.716
They don't have the names

01:09:32.756 --> 01:09:33.957
here and I won't name who they are,

01:09:33.976 --> 01:09:36.136
but they were pulling quite a bit.

01:09:36.677 --> 01:09:37.898
Um, in my understanding,

01:09:38.398 --> 01:09:39.158
I'm not a hundred percent sure.

01:09:39.177 --> 01:09:41.439
Yeah.

01:09:41.458 --> 01:09:43.159
Um, but like the market cap is only,

01:09:44.100 --> 01:09:44.579
you know, from,

01:09:44.800 --> 01:09:46.081
from circulating the market

01:09:46.121 --> 01:09:47.961
cap is like three point, uh,

01:09:47.980 --> 01:09:48.942
three hundred and twenty million.

01:09:49.341 --> 01:09:52.243
So it's like what to fucking put it to,

01:09:52.422 --> 01:09:54.904
to put the market or,

01:09:54.944 --> 01:09:58.784
or to have emissions of like a quarter.

01:09:59.618 --> 01:10:00.118
A quarter.

01:10:00.600 --> 01:10:02.420
Of your fucking market value

01:10:02.439 --> 01:10:04.060
in a month and a half.

01:10:04.161 --> 01:10:05.181
Yeah, in forty-five days.

01:10:05.721 --> 01:10:06.481
Yeah, it's a bit wild.

01:10:06.743 --> 01:10:07.422
That's a bit wild.

01:10:08.042 --> 01:10:10.384
That's a bit brutal.

01:10:10.524 --> 01:10:11.984
Twenty-four hour trading volume,

01:10:12.024 --> 01:10:12.685
eleven million.

01:10:13.945 --> 01:10:17.328
Yeah, man, that's pretty crazy.

01:10:17.448 --> 01:10:17.988
That's a bit rough.

01:10:19.189 --> 01:10:19.788
But like you say,

01:10:20.408 --> 01:10:23.291
you have to feel for the teams.

01:10:23.310 --> 01:10:24.150
They've been working on this

01:10:24.190 --> 01:10:25.091
for a long fucking time.

01:10:25.631 --> 01:10:25.811
Yeah,

01:10:25.851 --> 01:10:28.313
that's a tough... Not seventy-six

01:10:28.372 --> 01:10:29.373
million a long time.

01:10:30.895 --> 01:10:31.576
Are you talking about Alejo

01:10:31.615 --> 01:10:32.256
or are you talking about

01:10:32.277 --> 01:10:34.557
the Validator teams?

01:10:34.618 --> 01:10:34.797
Alejo.

01:10:34.898 --> 01:10:35.217
Oh, yeah.

01:10:35.238 --> 01:10:35.337
Sorry.

01:10:36.298 --> 01:10:38.198
These Validator teams haven't done shit.

01:10:40.501 --> 01:10:41.560
They've just spun up their things.

01:10:41.581 --> 01:10:42.140
Hey, hey, hey.

01:10:42.201 --> 01:10:43.622
Come on.

01:10:44.242 --> 01:10:44.922
We're in that test.

01:10:44.943 --> 01:10:48.323
I know exactly what they did.

01:10:48.404 --> 01:10:49.324
We're in this together.

01:10:49.765 --> 01:10:50.784
Apes together strong.

01:10:50.826 --> 01:10:51.805
Come on now.

01:10:51.966 --> 01:10:52.626
You know the rules.

01:10:54.886 --> 01:10:55.108
Dude,

01:10:55.167 --> 01:10:57.128
I get up and work fourteen hours a

01:10:57.189 --> 01:10:59.029
day and never get a fucking

01:10:59.109 --> 01:11:00.090
opportunity like this.

01:11:01.672 --> 01:11:03.734
Yeah, but it's just a number.

01:11:04.154 --> 01:11:04.573
Woe is me.

01:11:04.634 --> 01:11:06.175
Woe is Null.

01:11:07.695 --> 01:11:10.777
You know, but Null,

01:11:11.657 --> 01:11:14.177
you have youth looks and purpose.

01:11:14.698 --> 01:11:15.899
I have youthful looks and a

01:11:16.059 --> 01:11:19.439
fucking backyard full of plants.

01:11:20.480 --> 01:11:21.360
Yeah, yeah.

01:11:21.400 --> 01:11:22.902
You didn't need anything.

01:11:22.921 --> 01:11:24.682
That's funny.

01:11:26.724 --> 01:11:27.043
Yeah.

01:11:27.083 --> 01:11:28.384
To be fair, actually, I think,

01:11:28.524 --> 01:11:29.364
I think as soon as I've

01:11:29.404 --> 01:11:31.305
thought about it a bit, like, like, uh,

01:11:31.465 --> 01:11:32.885
what it must be like for the LAO team,

01:11:32.925 --> 01:11:34.145
I'm like, yeah,

01:11:34.206 --> 01:11:35.565
it's kind of like the

01:11:35.605 --> 01:11:36.926
experience of working on

01:11:36.945 --> 01:11:38.747
the Juno team and then

01:11:38.787 --> 01:11:40.386
running into the brick wall of prop,

01:11:40.487 --> 01:11:44.488
and you're just like, well, I have, uh,

01:11:44.507 --> 01:11:45.908
what's the, uh, is it comic?

01:11:46.389 --> 01:11:49.708
Is it comic book guy where he's like, yeah,

01:11:49.729 --> 01:11:50.670
it's comic book guy where

01:11:50.710 --> 01:11:52.350
he's walking down the street.

01:11:52.489 --> 01:11:52.670
Yeah.

01:11:53.524 --> 01:11:53.823
Everything.

01:11:54.425 --> 01:11:55.485
He's walking down the street

01:11:55.666 --> 01:11:57.247
and he is reading a comic and he goes,

01:11:57.689 --> 01:11:58.430
but Aquaman,

01:11:58.489 --> 01:12:00.891
you cannot marry a woman without gills.

01:12:01.752 --> 01:12:03.654
And then he sees a missile.

01:12:03.675 --> 01:12:04.917
I can't remember what the context is.

01:12:04.936 --> 01:12:06.238
Is it Treehouse of Horror?

01:12:06.537 --> 01:12:07.519
There's a missile going

01:12:07.560 --> 01:12:09.100
towards him and he goes, oh,

01:12:09.180 --> 01:12:10.743
I've wasted my life.

01:12:10.762 --> 01:12:10.922
Mm-hmm.

01:12:13.774 --> 01:12:14.753
little d says adam one is a

01:12:14.795 --> 01:12:15.574
similar thing going on

01:12:15.614 --> 01:12:16.315
doesn't have the decks to

01:12:16.355 --> 01:12:17.796
trade it yet one wallet has

01:12:17.936 --> 01:12:19.738
staked nine million tokens

01:12:19.898 --> 01:12:21.179
more than fifty percent of

01:12:21.198 --> 01:12:22.640
the total stake ten percent

01:12:22.659 --> 01:12:24.921
of supply to six vowels but

01:12:25.002 --> 01:12:27.404
adam one that's uh what was

01:12:27.423 --> 01:12:28.345
that is that jay kwan

01:12:28.364 --> 01:12:30.605
saying is that what that is

01:12:31.186 --> 01:12:32.427
it maybe it is maybe that's

01:12:32.467 --> 01:12:34.488
jay's wallet I guess that

01:12:34.708 --> 01:12:38.292
could be nine million

01:12:38.332 --> 01:12:39.292
tokens fifty percent of the

01:12:39.313 --> 01:12:40.434
total stake ten percent of

01:12:40.493 --> 01:12:42.354
total supply to six vowels yeah

01:12:43.402 --> 01:12:44.082
Yeah, checks out.

01:12:44.103 --> 01:12:44.703
Totally cool.

01:12:44.743 --> 01:12:46.363
No worries.

01:12:46.404 --> 01:12:47.985
Congrats, Adam.

01:12:48.086 --> 01:12:49.707
I think that is Jaycon's thing, isn't it?

01:12:49.907 --> 01:12:50.728
Wasn't that like the whole,

01:12:50.747 --> 01:12:51.609
we're going to make a new cosmos,

01:12:51.628 --> 01:12:52.069
yada yada?

01:12:52.128 --> 01:12:54.511
Yeah, because it was Gnosis, wasn't it?

01:12:54.530 --> 01:12:55.712
And then it was something else.

01:12:55.731 --> 01:12:56.271
I don't know.

01:12:56.372 --> 01:12:57.653
Yeah.

01:12:57.734 --> 01:12:58.793
In between those manifestos

01:12:58.833 --> 01:12:59.295
and all that shit.

01:12:59.375 --> 01:13:00.034
Or Noland?

01:13:00.154 --> 01:13:01.296
No, it's Noland, not Gnosis.

01:13:01.355 --> 01:13:02.256
Gnosis is a different thing.

01:13:02.356 --> 01:13:03.318
Yeah, Gnosis is a different thing.

01:13:05.539 --> 01:13:07.001
You know that we've been in this too long.

01:13:07.081 --> 01:13:11.384
There are just too many words.

01:13:13.395 --> 01:13:14.376
there are too many words

01:13:14.416 --> 01:13:17.417
it's too many words can you

01:13:17.457 --> 01:13:18.177
tell I'm getting past my

01:13:18.198 --> 01:13:20.338
bedtime but um no no no

01:13:20.378 --> 01:13:21.139
isn't like they're running

01:13:21.198 --> 01:13:22.659
out of names for blockchain

01:13:22.699 --> 01:13:23.921
projects and it's just like

01:13:24.501 --> 01:13:25.560
it's like is it this one or

01:13:25.581 --> 01:13:27.122
is this one is this one

01:13:27.141 --> 01:13:27.601
they're all the same

01:13:27.622 --> 01:13:28.922
fucking words man I don't

01:13:28.943 --> 01:13:34.145
know no no no idea more like hey

01:13:35.612 --> 01:13:36.471
yeah there's a yeah all

01:13:36.492 --> 01:13:38.552
these main net almost there

01:13:39.273 --> 01:13:41.354
uh chains maybe maybe now

01:13:41.373 --> 01:13:41.873
that we're past the

01:13:41.894 --> 01:13:42.833
election we'll start to see

01:13:42.854 --> 01:13:45.234
some movement here like we

01:13:45.255 --> 01:13:45.715
talked about before

01:13:45.795 --> 01:13:47.295
uncertainty uncertainty

01:13:47.335 --> 01:13:49.496
always creates stagnation

01:13:49.555 --> 01:13:52.476
right and so um oh man it's

01:13:53.337 --> 01:13:54.997
adam one has the same

01:13:55.698 --> 01:13:57.198
fucking logo as adam

01:13:57.984 --> 01:13:58.923
on CoinGecko.

01:13:59.305 --> 01:14:00.305
Sweet.

01:14:01.546 --> 01:14:02.426
Oh, it's on CoinGecko?

01:14:02.805 --> 01:14:02.945
Really?

01:14:02.966 --> 01:14:03.546
There's no price.

01:14:03.586 --> 01:14:04.087
It's a preview.

01:14:04.587 --> 01:14:07.427
Oh, okay.

01:14:07.528 --> 01:14:07.648
Nice.

01:14:09.328 --> 01:14:10.189
Looks like... What's this

01:14:10.509 --> 01:14:11.869
Comet BFT security patch

01:14:11.890 --> 01:14:13.029
that's now making the rounds?

01:14:13.069 --> 01:14:14.591
Anybody know?

01:14:14.631 --> 01:14:15.390
Which one?

01:14:15.430 --> 01:14:16.931
This Comet BFT security

01:14:16.971 --> 01:14:18.393
patch that's coming out.

01:14:18.412 --> 01:14:20.252
It's to do with vote extensions.

01:14:20.493 --> 01:14:23.975
So it'll probably be for DYDX, etc.,

01:14:26.314 --> 01:14:26.515
Okay.

01:14:26.917 --> 01:14:27.056
Yeah.

01:14:27.779 --> 01:14:28.822
I think they did push something.

01:14:28.841 --> 01:14:29.684
Didn't they push something today?

01:14:30.886 --> 01:14:31.387
Or yesterday?

01:14:31.507 --> 01:14:32.650
Tested it?

01:14:33.493 --> 01:14:33.833
No, no.

01:14:33.873 --> 01:14:34.114
Mainnet.

01:14:36.306 --> 01:14:38.967
Oh, V seven is on the docket.

01:14:38.988 --> 01:14:39.747
And then I thought they pushed it.

01:14:39.768 --> 01:14:41.929
They had this six, nine.

01:14:42.368 --> 01:14:42.509
Yeah.

01:14:42.529 --> 01:14:44.088
Six or nine.

01:14:44.149 --> 01:14:44.248
Yeah.

01:14:44.288 --> 01:14:45.369
I see.

01:14:45.390 --> 01:14:45.869
Was that main?

01:14:46.130 --> 01:14:47.229
Yeah, it was main net.

01:14:47.250 --> 01:14:48.511
That must've been the patch actually.

01:14:48.970 --> 01:14:49.070
Yeah.

01:14:49.091 --> 01:14:49.791
That must've been the patch.

01:14:50.911 --> 01:14:51.310
Same thing.

01:14:51.551 --> 01:14:52.712
I guess that initial patch

01:14:52.731 --> 01:14:55.573
yesterday was maybe the same thing,

01:14:55.932 --> 01:14:56.252
I guess.

01:14:56.273 --> 01:14:56.733
I don't know.

01:14:57.292 --> 01:14:58.273
Oh no, that was an actual upgrade.

01:14:58.313 --> 01:14:58.613
Actually.

01:14:58.793 --> 01:14:59.314
I shouldn't say that.

01:14:59.354 --> 01:15:00.213
That was an actual upgrade.

01:15:00.253 --> 01:15:01.073
So that might not have been it.

01:15:01.994 --> 01:15:02.074
Yeah.

01:15:02.114 --> 01:15:02.835
I started to see that flow

01:15:02.854 --> 01:15:03.515
through a little bit though.

01:15:05.435 --> 01:15:06.296
What about vote extensions?

01:15:07.337 --> 01:15:07.618
Who knows?

01:15:08.917 --> 01:15:09.698
I'm not really sure.

01:15:09.778 --> 01:15:10.658
Some security thing?

01:15:11.278 --> 01:15:12.538
It was just a security thing.

01:15:13.380 --> 01:15:13.699
And then,

01:15:14.100 --> 01:15:16.140
because I saw that Injective gave

01:15:16.201 --> 01:15:16.902
notice that they were going

01:15:16.921 --> 01:15:18.523
to do a security patch,

01:15:18.563 --> 01:15:24.405
and then when they were due to put it out,

01:15:24.466 --> 01:15:24.926
they said, oh,

01:15:24.966 --> 01:15:26.488
it's only to do with vote extension,

01:15:26.528 --> 01:15:27.868
so it does not apply.

01:15:28.649 --> 01:15:28.809
Oh,

01:15:28.828 --> 01:15:30.109
SATA's actually saying that they don't

01:15:30.130 --> 01:15:30.750
use vote extension,

01:15:30.789 --> 01:15:31.551
so we're not worried about it.

01:15:31.730 --> 01:15:32.551
Okay, that's cool.

01:15:33.452 --> 01:15:34.032
Yeah.

01:15:34.091 --> 01:15:34.733
Yeah.

01:15:34.773 --> 01:15:36.314
So I guess anywhere we're running skip,

01:15:36.333 --> 01:15:36.493
right?

01:15:36.814 --> 01:15:38.314
DivX and all that other kind of shit.

01:15:40.599 --> 01:15:40.958
Yeah, yeah, yeah.

01:15:40.979 --> 01:15:41.059
Guys,

01:15:41.099 --> 01:15:43.041
I am unfortunately going to have to

01:15:43.421 --> 01:15:44.020
bugger off.

01:15:45.322 --> 01:15:46.063
Anything else?

01:15:46.342 --> 01:15:46.662
We done?

01:15:47.543 --> 01:15:48.123
We getting rugged?

01:15:49.265 --> 01:15:52.726
I mean, what's we got to do?

01:15:53.027 --> 01:15:53.787
It's kind of a nothing

01:15:53.828 --> 01:15:54.648
burger week this week.

01:15:54.688 --> 01:15:55.708
Nothing happened in politics

01:15:55.729 --> 01:15:56.189
or anything else.