So i i think that we are seeing really really early signs that inflation could potentially cool in the year ahead. Of course, it remains pretty hot uh in the current day and age, but as we look to next year were starting to see the the baltic dry index come down youre, starting to see the cost of containers come down youre, starting to see the number of days At port uh begin to ease, and so, while theres still a long road to go on the supply side, i think were moving in the right direction, at least when it comes to the inflationary story, mike we mentioned earlier. Obviously, tesla also palantire down quite a lot. Peloton had another damn day and paypal, another one of that sort of arc, ish type con universe, type stock, which was down pretty pretty sharply overall, an arc down yeah between tesla pay, pal and palantir yeah. It was. It was not a good one. You know its its interesting because they have those types of stocks had their ultimate peak in january february, and they had the big decline bounced a couple of times since then, its really been the jurys been out as to whether, in fact uh that was a consequential Peak in those types of big total addressable market, innovative company, no real pla path to to neo term sustainable profitability, now paypals profitable, thats a different story. I think thats just kind of a crowded space uh right now with too much capital being thrown at it.

In terms of uh payments, but its not been where the market has been gathering most of its upside impetus for a while right now, but i do think you have to take note of you know, and then they have the roblox move on the upside. So theres really a lot of aggressive kind of separation, of winners and losers uh in these markets, and they take back the amounts in a big bite too mimi. I think you oh never mind. I think we have yeah lets get to coinbase, which is uh just crossing uh k, rooney well coinbase shares getting hit here after hours, the company reporting a miss on revenue coming in total revenue, 1.31 billion dollars that was lower than expected net revenue, 1.23 billion dollars. We have gap eps as well, which were not comparing to analyst estimates, but that came in at a dollar 62 monthly active transaction users thats a core metric here, uh 7.4 million – that was down from the previous quarter, but it is up from the prior year verified Users did increase to 73 million transaction based revenue was about 88 of total revenue, so down uh as far as diversification from from the prior quarter subscription and services. Revenue also grew to about 145 million dollars. Trading volume meanwhile, was down as well from the prior quarter. Seeing a bit of a slowdown at 328 billion coinbase shares, though, getting hit now down more than nine percent here after hours back to you, okay, rudy, thanks so much mike its another one where you dont want to miss uh given given the multiple things well for Sure, and also the run that the stock had had um the you know.

I know that the published uh estimate was in the 150s per share. I think the real implied expectation was closer to 180. thats, where some of the estimates had been trending and you had a lot of increase in the uh in the forecast in the last few months. Declining users in this quarter is not great one of the bigger questions out there, and i know that the bitcoin etf has only just come on the scene. It wasnt really a factor in this quarter, but one of the bigger questions is. Does that just add to the entire excitement of people getting involved in crypto and therefore help coinbase or is it an easy alternative to people to just trade through your regular old broker to buy the etfs thats still an open question, but i still think thats why People are sensitive. We saw that in the robin hood numbers as well. Yes, uh, it is slowing. Now it picked up from the you know from the uh from i guess the depths of the of the summer, but yes, absolutely lindsay whats your take on on crypto. At this at this level and whether a coin base will ever break ultimate long term correlation with with what the underlying crypto is doing, um, you know, i think, were still in very early stages of what cryptos going to be long term. Obviously, its becoming more and more mainstream, more and more financial institutions are legitimately considering it and building building businesses around it too.

I think a lot, though, comes down to what is the regulation going to be right, um, so thats going to weigh heavily on on the future of crypto and the uncertainty that is there. I think for a stock like coinbase, though it had a magnificent run over the course of the last month. Earnings moved significantly higher, so the bar was set really high and it was easy for these guys to miss and – and you see the stock down uh as a result of that. But there is a you know they are trying to diversify. Theyre moving into nfts theyre going to be testing that stuff this quarter, so the future is, is still theres still opportunity for a company like this.

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