You know you have to say. Why are people buying bitcoin in in reality, bitcoin just like an nft, is a digital version of art. You know we compared it to the mona lisa. Bitcoin is a digital version of gold right gold. You know people say well: gold has real value as jewelry. Nobody needs gold, jewelry people like gold jewelry, because you know it keeps a shine, etc, etc. Theres a lot of reasons to love gold as jewelry, but if, if gold jewelry went away the world wouldnt change, you know and theres only a really theres a few manufacturing applications. But gold has value because people assign it value and thats those types of investments are called store of value, theyre kind of like commodities, like you just said, bitcoins the same way. It just happens to be digital, its limited by an algorithm and how many thats created. So theres a scarcity factor you cant just create it forever and because of that, and because its easy to transfer its easy in some cases to use for cross border payments between country people in different countries, so theres some utility, but mostly people, buy bitcoin and own Bitcoin, like i do because other people own bitcoin, just like people, buy gold. Now you hear a lot of stories. Bitcoin is a hedge to inflation. Gold is a hedge to inflation, its not its, not you know, were having a lot of inflation right now. Bitcoin aint going up were having a lot of inflation right now: gold aint going up, you know theyve, they bounced around pretty much where they are, and so youve got to understand if youre buying, bitcoin its store value and like any store of value, gold or otherwise, Its the price is based on supply and demand.

When people are selling more people are selling them buying. It goes down when more people are buying and selling. It goes up and again, thats not a whole lot different than the stock market either. You know tech stocks have gotten crushed worse than bitcoin and ethereum now ethereums a little. The theorem is a little bit different right. Ethereum has some level of utility where you can use it for transactions. Most um nfts are bought and sold using ethereum. So, in order to buy a board ape for 100 ethereum, you have to go buy that ethereum and so the more demand there is for board apes or the apecoin or whatever thats um, based on ethereum, the more value ethereum um. The token is going to have, and so when i look at any of my crypto investments thats the first question: i have what is the core utility of it? What value does it serve and so thats? Why i own more ethereum than i do bitcoin now? That said again, when, when all tokens like stocks, have some level of speculators in it right people who arent long term investors, they just want to buy because they think its going up, and so when a market loses those speculators and that were losing a lot of Them now because interest rates are going up, because, if you, you know, when you had your choice of putting your hard earned dollars in the bank and earning 0.

1 interest, youre – probably going to speculate more. But now that inch rates are going up, people are speculating less and you cant borrow money to speculate as inexpensively, so they speculate even less and as a result, stock prices are going down. You know i own amazon, i own netflix. Those prices have gone down more than my bitcoin and my ethereum have gone down, but thats just the way it goes, and so you know at this point in time. What im doing is looking to see, or is there anything there thats gotten so cheap that its time to really take a strong look at starting to buy some and ive dabbled? You know when, when ethereum gets down under to you know under lets, say eighteen hundred dollars ill buy a little bit when um bitcoin gets down under twenty eight thousand ill. Buy it just a little bit because its really hard to predict how low its going to go so im, not i havent gone all in in yet i look at dallas and say: okay, how can they change how company how people do business right right, and so One of the big things thats happening right now is you know. Employees are starting to get a little bit more traction and having an impact at the companies that they work for. You know because, at least as of now theres more jobs than there are employees and its not hard to go. You know, leave your job and find another job, possibly paying even more and companies are having to pay more to keep good people.

Employees are getting more and more power, and that power is an example of why daos may start to have an impact in reg in startups, going forward and so im starting to talk to companies. Now that are saying okay, rather than creating an llc, or rather than creating a subchapter s corporation and incorporating in delaware, im going to create a company as a dow and im going to pay my employees good wages because they need to be compensated. But at the same time, i want them to participate more in how we govern the company and so were going to give them tokens and were going to were going to post things so that they can vote on different business decisions. Um – and so i think were were really just not even in the first minute of that industry and that happening, but i think thats, the future of daos, where it may be a better way to do a startup that allows your employees to be more participant and Contribute ideas and vote on ideas and make it more democratic, more progressive, more democratic, and if you start to see some companies that achieve some success that way, i think youll see more and more taos take place if you dont eat sleep and drink your business, 24. 7, because thats, how much you love being part of it, youre youre, probably not right for me as an investor and ive made – and i say this because ive made so many mistakes – you know i ive gotten it wrong gotten.

So many investments wrong um that ive learned what what to look out for the crypto stuff is exciting for me, but i like it more for business applications. You know for content yeah for content its going to be great id like to see textbooks. You know college textbooks done as an nft, where you can take like a kindle reader and make it part of an nft, and so you know you take your class um, you you take l1 class and law school and all the books you have to read. If theyre an nft when youre done with it at the end of your your semester, you just sell it and the author and the publisher get their share and you dont have to go through all that hell of okay. Do i buy a new one, a used one, you know what do i do with it now that i just spent 300 for the stupid textbook that ill never use again so theres a lot of valid applications. There um, i think, in business, we talked about dows and how they may change how businesses are started um. I think that the distributed aspect of um approval right, the centralization aspect of it, so things like um insurance approvals right right now it you know insurance is very vertically integrated.

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