AI Trade is Back On, Equity Pairings are Just Memes, and the $70M $PONS Short Trade

0:00What is up, everybody? Welcome back to another episode of Full Port. So happy to have you here.

0:59A lot happening, whether it is Hunter Biden’s laptop, the crypto market, the AI trade being back. We are here to help you figure out how to navigate these markets, make the money you deserve to make, and hopefully not lose any money while you’re at it. As always, I’m joined with my amazing co-host and great friend, Gee, or Gee Money. Good to see you, brother.

1:21We got to spend some time in person last week. I think from Thursday onward, we saw a lot of stuff that got us excited. Markets have been interesting, whether it’s been Quotrons, Fun, Bitcoin, the AI trade, a lot to get into today. Let’s just jump straight into it. How are you doing? I’m doing well. Obviously, there was a long weekend. I think a lot of people were super excited for trading over the weekend. I want to start off with probably the AI trade in Tradify markets and then go on chain from there if you’re cool with that.

2:06Let’s do it. Yeah, I mean, a lot to cover there, but let’s jump straight into the AI trade this morning. Yeah, so basically Astra came out on, I don’t know, over the weekend at some point. I haven’t tried it out myself. I was just trying, messing around with it a little bit this morning. But the feedback that I’ve seen on X from like my trusted AI Quants has been pretty remarkable. And I think the fact that SoftBank, I think was up 25%. Because obviously, Asian markets were open yesterday and last Sunday night and Monday night. And SoftBank has a lot of exposure to open AI means people are like super excited about what’s going on there.

2:53So, you know, I need to mess around with it. But I think basically what that ended up happening in public markets is that people are now getting excited about AI again, whereas, you know, a week or two ago, people like well, how much improvement is there actually going to be the top is in, you know, all this bear porn. And you know, I think this morning, it seems like the market sold off a little bit from from the highs, but Micron is popping. And I don’t know if you have the chart up yet. But the chart I mean, to me, this looks like a bullish chart, you know, I mean, like, it already get long, you know, like, you could use that like eight, whatever that is, eight 80 stop. But this like, looks like it’s getting ready. This reminds me a lot of after last quarter, when I think it printed from 450 down to the low 300s, and then it got ready to go on that run. And so obviously, it’s from a higher base. But I think what basically, you know, all this is kind of showing is that there is demand for AI agents, there’s going to be more demand for chips because of all of this, right? Nebius Palantir announced that Nebius is their partner, their trusted partner for their trusted what’s called Neo cloud partner.

4:15So I think that that’s kind of what’s what’s causing that pop to you know, there’s been a lot of downward pressures since they did that secondary. And it seems like now it’s above that range. And yeah, I mean, it seems like on any given day, the whim is different depending on what’s the narrative people feel like pushing or how let’s say people wake up that day. But, you know, I again, this is kind of what I’ve been saying for the last couple of weeks is that these AI agents as they get smarter, they’re going to become more capable, and then people are going to start using them more for everyday tasks, right? And they’re going to be easier to use, and easier to just do stuff with. And that increases demand for it. So I think that that’s what we’re starting to see, I think also on Friday, after the show, the jobs report number came out, and it was surprisingly strong. And I think the market initially sold off, but I saw AI in general was pretty strong because all sudden the narrative starts to shift from AI is going to take our jobs, there’s no return on it to, hey, this is actually causing more people to be hired.

5:21Wow, shocker. Right? It’s like, it’s like, nobody except us to have been saying this for the last six months, essentially. Yeah, I mean, listen, there’s a lot of I think there’s a lot of people have been saying it’s just probably not in our Twitter sphere. Yeah, no, no. But, you know, it’s just, you know, I think this is to me, just the thing you want to keep an eye on. So like, I saw that on Friday, I saw my metals positions were a little weaker, but my AI positions were stronger, right? Because it’s again, it’s just like narrative violation, right? And it’s like, when you when you get those narrative violations, you have to be paying attention, especially when, like, believe it or not, I feel like sentiment just so low on the AI space at this moment, right? There’s so many bears that are like, the trades over this and that now, obviously, even in the consumer space, too, like I, I would have thought at this point, more people would be like, Oh, yeah, AI is good. I like like, like, I, so I named every single one of my fantasy football teams, their team name is Fable 5.1. And then in parentheses, Max effort, which I think is a great, a great team name. Oh, I might steal that one. I think I’m going to

6:35steal that one. And it has rubbed every single league very wrong. Like I am I am the least like person in every single one of my leagues because they’re like, Oh, this like, you know, this dick is using AI like, Oh, you’re stupid AI won’t work. I am I am projected rank one in every single one of my leagues right now. Actually, I take it back, three of them rank one, one of them ranked two. But I, I could not believe everybody who’s like, dude, you’re so dumb, AI is not that good. Like, you’re gonna come in last, like, like, why would you use AI like, it’s like, everybody’s just like crapping on it to where I’m like, what are you talking about?

7:17Like, I’m quite literally, I have scripts running that like monitor like, like the open league and all this, but it just it like drives back this fact that these are average consumers who are like pushing back on AI still, which makes no sense to me. It’s much like the crypto trade, like it’s like, oh, crypto never be used. Well, here we are stablecoin seems to be like the perfect fit and it’s doing billions of dollars a day and people people just don’t want to accept the new technology. Yeah, I mean, and you know, I feel like tokenized stocks is next, but we’ll get into that probably in a couple of minutes.

7:52But on my on this, again, this fantasy football league that I, I did, I signed up for it. And I was like, I immediately regretted that decision. So I’m like, all right, whatever. I’ll just gonna go through with it. But then I saw they send out like the commissioner sent out an email being like, you can’t use AI like during the draft or whatever. It’s like, we’re using the honor system like my ass. But I think I might rename mine. I might rename mine to AI.

8:22Astra, Astra, hard, hard or whatever, Astra extreme, whatever the top Astra model is. But yeah, it just it just funny. I think people still in general, there’s a lot of pushback, which tells you that there’s like opportunity there.

8:39Yeah, yeah, where there’s not like, I love being the early adopter. I think that’s like, that has defined a lot of my career here. But I don’t know, I think if you want to win in these markets, you have to be willing to try and test things. We’ve said a number of times on the show. Maybe you don’t have to be an early adopter, but you got to be curious and you got to you can’t be a maxi on things.

9:03That’s probably the number one thing that from crypto that I’ve learned is like never ever no matter how tied your bags are don’t become a maxi.

9:13Never go full maxi. Never go full maxi. It’s not good. Don’t do it.

9:20Yeah, no, I agree. I think that that’s where, you know, I think that’s probably one of the characteristics of being a crypto is that you’re generally early and you’re willing to try and you’re willing to experiment.

9:34And that’s how you find stuff, right? I think that was kind of my thing with Quotrons of why I got into it so early was because I had a couple of buddies hit me up and they’re like, hey, this is like a really elegant design and a mechanism.

9:46And so, you know, just like every other good trader ate first DD later, right? And so like I bought some and then I started looking into it and I was like, oh, yeah, this is actually pretty cool. And, you know, and it’s been playing out pretty nicely.

10:01And the ecosystem developing around it has been nice.

10:04But I think that that’s kind of one of the, you know, for every one of those, there’s, you know, a hundred that don’t work.

10:10Right. But like that one that does work more that should more than pay for all the ones that don’t.

10:15No, no, that that’s a good thing.

10:19As far as the, you know, coming back to the AI trade here, this micron chart looks really good.

10:26Are you are you making any moves in the AI trade after seeing this price action jobs report as well as I would say knowing knowing where Fed decisions are most likely to land.

10:44Like anything changed for you since our last show.

10:48No, nothing’s changed for me. I’m just kind of like monitoring my positions.

10:52I’d say my big AI trades on right now are Micron, Nebbius, NVIDIA and Sunrise Technology, which is a little further up the stack right there, producing Scandium, which goes into Blumboxes, which helps without the AI trade.

11:08And so I’ve just been monitoring those.

11:11I think if maybe I wasn’t as busy in crypto, I’d be probably like monitoring these more, putting on like, you know, cute trades.

11:20There are shorter term trades. But, you know, right now, these are like more longer term positions for me.

11:24And I’m just like this type of thing that it’s like, yeah, in six months, nine months, you know, I’m hoping to come back and look at these things and they would be way higher.

11:31So for me, it’s just like holding steady.

11:34Again, I still don’t think I’ve seen the narrative change on them.

11:39If anything, I feel like it’s getting stronger and especially with more people, you know, you got to climb that wall of worry, right?

11:46And so I think a lot of people still have that wall of worry out there.

11:50And, you know, I think that’s that’s good for for the stock, because I think like once you if everybody was a believer, then like you have no other no new person to convince to to buy the stock, whether it’s a short or a new long, you know.

12:04I agree. We’ll keep monitoring the AI trade here.

12:10I am watching each of those charts, looking for any entries that make sense.

12:17I like I said, I’m sidelined from previous shows where I’ve kind of taken the money out.

12:23I’m playing in the crypto sphere, mainly.

12:29Talking about AI trade, this this SpaceX chart looks nice.

12:33SpaceX looks nice here.

12:34Wow, it does. I guess if I if I were to buy, I would probably buy some SpaceX right here.

12:41You know, you were a criminal to me for every time I want to buy, you’re like, oh, like a little lower.

12:49But again, like, dude, like, I mean, that’s that’s trading, right?

12:53Like the conditions change by the second.

12:55So, you know, we the news that’s on the field now today is different than when it was at 110.

13:02So we like you like this.

13:04Let’s walk you through. Like, yeah, hold hold my hand like the the equities trading toddler I am.

13:12Are you bidding here?

13:14Are you looking for, you know, a red day to get in and then obviously in validation, I guess, is under 130.

13:20If I’m looking at this chart correctly.

13:23Yeah, so basically, I decided I’m going to be building my SpaceX position with my crotrons rewards.

13:33So I’m going to be like building that slowly over time.

13:36But if I were to buy a position right now, so like here’s the thing was in.

13:41A downward spiral, right.

13:45And and then, you know, the lockup, the lockup comes through.

13:52It pops on it apparently because there wasn’t any stock and we were talking about it.

13:56And then I think somewhere around here, I think Rockbot comes out.

14:01Right. And Rockbot, to me, was really what kind of changed everything of my view on SpaceX.

14:06Right. It’s like, OK, well, I think Rockbot’s like a really good consumer product.

14:10I think they showed, Elon showed that he could one, maybe not be at the forefront of the frontier models, but, you know, be pretty close. Right.

14:22And and be very fast. I think that’s one of the things I like the most about Rockbot is that it doesn’t take, you know, 90 seconds to tell me what the weather is in New York City today.

14:32Like it’ll get that back very quickly.

14:35And I think that that’s like a good competitive advantage.

14:38And so, yeah, so I think the product is good.

14:40And that product was not out at the beginning of August. So again, like, dude, like I could tell you that I think SpaceX is a great long year.

14:48But then if some news comes out in five minutes after the show’s over, then obviously my thesis changes.

14:54And that’s that’s literally what trading is.

14:57Right. When new information comes out, you reevaluate your thesis at all times and then just say, is, you know, do I still want to hold this?

15:05Do I still is this still worth the risk or reward?

15:08Right. And so, like I said to me, like, again, as a trader, I’m not like, oh, should have could have would have I could have bought it at one hundred ten.

15:15I didn’t. The information that was out was different at that time.

15:19And it wasn’t a trade for me. You know, I know a lot of people made that trade and made good money on it and whatever.

15:25I think to me buying here is probably a safer setup than trying to pick a bottom at one ten.

15:32Makes sense. Makes sense.

15:34Yeah, no, rock again, I.

15:37Actually, I’m blown away by it after using it.

15:39I didn’t get the hype. I was like, yeah, I can’t be that much better.

15:42It’s it’s really good.

15:46You know, I kind of I use it.

15:49Yeah, I use it like more than I use all the other models, though.

15:56Really? It’s pretty much like my assistant, because it’s also very easy for me to interact with it on my phone.

16:03And yeah, I’ll use like pretty much now the way I’m almost not really using.

16:09I guess like I can tell you how I’m using AI in my workflows right now.

16:13I use Grotbot for anything where I’m like, I want to know the exact news.

16:17So, for instance, I was like, tell me a little bit about this Apple event that’s coming out tomorrow.

16:23Right. And it gave me like expectations of what was supposed to come out and what people think is going to be and stuff like that.

16:31And like it’s just very timely and it’s very fast.

16:33So I can be like, hey, do quick research on this.

16:36So it’s great. Fable or Claude, at this point, I kind of only use it for co-work on my computer where I’m like, hey, like find this file.

16:46Like I can’t find the file, like sort through it or like sort my folders, you know, stuff like that.

16:51And then anything I think dev wise, I use Codex because Codex to me like just does everything in a technically sound way.

17:00And that’s kind of how I’m using stuff at the moment.

17:02And I would say that like I haven’t necessarily experienced it personally, but I’m hearing more and more things of like Claude models not doing things because it doesn’t agree with the ethics of it or whatever.

17:16Right. And so it’s just like I think like that’s starting to come back and bite Claude in the ass because it’s one.

17:23I think you can get away with it when you have the best model.

17:25But if you have a marginally better model or you don’t have the best model, then people are like, all right, well, give me something.

17:32You know, like if I want truth and I don’t want to be censored at all, like I go to RockBot.

17:37Yeah. No, no, I was running something for Index, which is our in-house watching data company at Lute and was trying to use it on Robinhood Chain to find potential new launches that were happening and basically was asking for it to go back and look through certain wallets activity and look for liquidity edition events.

18:03And it pushed back and was like, I’m not going to do that.

18:06I think that there’s now like you have an analysis on what you’re doing.

18:10And I was like, no, like, just go look at the liquidity pools.

18:13And I was like, I can’t do that for you. And I was like, there’s I’m doing nothing wrong.

18:17Like, just go look at liquidity pools and report back.

18:21I again, blown away by what it feels like to have an AI model, choose what you’re allowed to and not allowed to do when it’s such a like that’s not black or white.

18:35That’s like a gray area where, you know, if I’m trying to do something that’s around like an actual crime, I would understand that.

18:45Right. Like, I totally understand if I was like asking it how to make drugs or something like if I can’t do it.

18:51I would do that. That is like quite literally an illegal thing.

18:55I don’t get this other stuff, though.

18:57I will also say, entropic, and I have a little bit of a beef this morning.

19:02I tried out Fable 5.1 max effort.

19:07I went through a week’s worth of credits in an hour.

19:15Like, really not happy.

19:18Well, also, so I guess like, so it’s funny because when I was messing with Astra Astra this morning, I was like, all right, what what level of effort do I put it on?

19:29And I left it on Medium because I’m like, at this point, like, I think I’ve done a lot of I’ve done a lot of the hard work that I personally wanted to do.

19:38And so now I’m just like, all right, well, I’m going to be I’m working on like a mini website or something for something that I’m working on.

19:46And I’m like, I don’t need, you know, max effort on this.

19:50Right. Like, I’m good with Medium. Right.

19:51Like, I’m not building a security database, blah, blah, blah, whatever.

19:56It’s like it’s just this very. Yeah.

19:58So I find that I myself am starting to be like, all right, well, I don’t need like the frontier, frontier intelligence, because if not, I’m going to use all my compute in about 10 minutes.

20:10And frankly, like, I don’t need the most frontier intelligence for that stuff.

20:14When I think when I was working on like more technical stuff and building out these systems and these back testing systems and stuff like that, of course, I probably want more frontier intelligence than that.

20:25But, you know, it’s yeah, I think that like now it’s like I’ve done a lot of the work that I’ve wanted to do.

20:32I know the tools that I have in the tool shed.

20:35And yeah, I think it’s probably just like the same thing on everybody’s end.

20:39Right. Like they’re probably going to start throttling compute more because also they’re very compute constraint.

20:44Right. I think last week Claude was down for a couple of hours.

20:47Right. Like I was like trying to do something. I’m like, like, am I at my usage limits and then like, is my Internet connected?

20:53Like what’s going on here? And then it was just, you know, I saw a couple.

20:57I think I think all the models were down for a little bit like there was kind of like a mini attack or something from.

21:03Really? Again, I was I was I could just be making that up.

21:06I don’t know. But like I did see a couple of people talking about it on the next.

21:12Interesting. Well, we’ll keep in our radar as we continue throughout the day and the week.

21:21A lot of other things happening within the industry.

21:24I would say, unfortunately, the big one that got caught up with crypto over the last few days while we did see Zcash pop off and some other names starting to move quite significantly.

21:38The one area that I feel like we need to chat into because it’s kind of funny, but also I think it leads into a lot of maturity happening throughout the ecosystem is Hunter Biden trying to launch his own token named Laptop.

21:51I’m hearing reports that he’s he’s in debt and like all these other things.

21:56And look, he said that on a podcast, I think.

22:00He said on a podcast, he’s like 15 million dollars in debt.

22:03Really? I got somebody shared that tweet with me yesterday.

22:06I saw it yesterday. I’m like, OK, well, then, you know, he is in debt.

22:10There you go. From from the source himself.

22:14Look, we had Coinbase, Kraken, Pump.fun, everybody tweeting about it.

22:20Kraken actually walked it back, which was the only centralized exchange, I think, actually put its foot down and was like, we’re not going to do this.

22:28We’re stepping, you know, pulling back from this, which I love to see.

22:32I’m also hearing reports that Pump.fun purchased this launch to launch it directly on Pump.fun, playing into this kind of like do whatever for attention and chain activity moment that we’re seeing between different chains as well as different trading venues.

22:51What’s what’s your take here? Because I have a strong one on where we go after seeing the reaction with this or what what happens with meme points going forward.

23:02So I’ll be honest, like I really don’t care if I’m being perfectly honest.

23:08I think that again, like this is a meme. We know how meme points play out.

23:12It’s dead over. The celebrity coin is dead. It will never, ever happen again.

23:18Like it’s just clear. I think. Yeah. Like I. So again, like to that point, I think the people that were loudest on the timeline were people whose bags were new.

23:29Yeah, right. Because like it’s a liquidity stock. Liquidity is coming.

23:33Like if you look at what happened with Trump, Melania and Libra, right?

23:38Like it was literally, you know, it was a cat, an 11 hurricane that hit meme coins, right?

23:46Because it took out all liquidity. And so, you know, I think people are like thinking about it the same way.

23:52Again, meme coins are not really my thing.

23:55I saw obviously that it sucked up a lot of on chain liquidity as people were maybe getting ready for it to happen over the next.

24:04I think supposed to launch tomorrow. Right. I think so.

24:07You know, maybe that’s delayed. Maybe who knows? Right.

24:10I don’t really know. But yeah, I just again, like it’s it’s really it’s like these are permissionless systems.

24:18People are going to launch tokens and, you know, it’s up to people in the space to support them or not.

24:24I think big shout out to Ansem for he was a big he was a big proponent of celebrity meme coins last cycle.

24:35And he basically was like, no, like not, you know, not into it.

24:40So good for him. You know, he’s obviously a really smart guy, really loud voice in the space.

24:44So, you know, it’s good to see like that self reflection and not just kind of like pushing that.

24:50But yeah, like we’ll see. Like I think that like a lot of people are like, oh, no, like I’m not going to buy it.

24:55But like I think people are going to buy it like like if somebody is like, I think I can make money, they’re going to do it.

25:03So I think as much as there’s like a lot of grandstanding on it and people like, no, like this is not how you do it.

25:09Blah, blah, blah. And whatever.

25:12I mean, the thing launches and it’s trading at let’s say 10 million FTV.

25:18I’m sure people are going to buy it and try to pump it to 100 for 10 X.

25:24I tweeted this yesterday. The crack pipe is hard to put down. And that is I mean, that’s like at its core.

25:30That’s where we’re seeing we’re seeing people that want to keep gambling and keep playing this short term speculation game.

25:37Continue to play it. I mean, we even had.

25:41Dude, if people get like allocations and stuff like that, then all of a sudden they’ll go from from haters to to being like, this is going to revolutionize politics on a go forward basis. Right.

25:53I think like that I think to me, like the interesting weird dynamic of the token from like the little that I read into it was that he’s air dropping some of it to people that lost on Trump coin.

26:07Right. So that’s one. And then if the Dems win the midterms, he’s going to burn like 30 percent of supply.

26:17And like, I don’t know, it’s just like, you know, like I know Elon got a ton of flack during the last presidential election because he was he kind of ran like a lottery type of thing in Pennsylvania where it’s like I forgot exactly what it was like.

26:35Like if you registered to vote Republican or something, you were entered to win like this jackpot prize.

26:41And a lot of Dems were like going after him saying that what he was doing is illegal and blah, blah, blah, and like trying to buy votes or whatever.

26:47And it’s like I think like the mechanics of this meme coin of, hey, if the Dems win midterms will burn supply.

26:55So you’re going to like make money because supply is going to go down.

26:58It’s almost like you’re trying. It’s like the same type of mentality and mechanic of him trying to, let’s say, buy the crypto vote per se to see if they because like I think they said right in in the presidential election that the crypto vote was one of the swaying factors.

27:14I think it was really like I think it was like the homage vote in Pennsylvania that like one of the election from like my understanding.

27:21But like crypto obviously did play a factor.

27:24But yeah, so like it’s basically like using the same game theory right behind it of like, hey, let’s get like crypto people on board with this so that if the Dems win, they make money.

27:37So I don’t know. Like to me, it’s like the same types of mechanics dressed up a little differently.

27:42But listen, it’s politics. Politicians are going to politic. So it is what it is.

27:50Obviously, obviously, there’s probably going to be some people buying this, but I’m sitting this one out completely.

27:57You know, I think there’s better things like the AI and memory trade to put money into.

28:04And if not that, obviously, we’ve got a lot of other projects and protocols within the space that actually have a real product, real revenue over the weekend.

28:17My Sunday evening, I hadn’t left the house all day, watched my quote on bag basically double from earlier in the day that ripping all the way up to twenty two million dollar market cap on the token.

28:31We saw the floor, I think at one point above for for a single quote on obviously that’s pulled back significantly into today.

28:42But we’re also seeing the number of unique holders on that continue to go up.

28:47So at some point here, I’m expecting that we’ll have the weekends fully out and just going through kind of some of the NFT activity here.

28:59It looks like we’re seeing people that were sitting on eight to ten of these down to two to four or zero in some cases, just kind of doing some due diligence here while I’m talking.

29:14It would seem most people are just like, hey, I’ll keep my moon bag and I’m out.

29:17But we’re almost up to a thousand unique holders. A lot of interesting things happening there.

29:23They added points to Quotrons this morning, which makes me think there’s something around Ink Chain.

29:30It was added. I think the points were added on Saturday or Sunday or Sunday or Sunday.

29:36Yeah, yeah, yeah. I’m not like I’ve never been a points speculation guy.

29:43So I’m just like, whatever I think any points or whatever, I think is just like great.

29:49What’s it called? Gravy on top. Right. I think on the cake. Sure.

29:52So because I just think I don’t know. I think what what he’s doing, I think he’s a crack dev.

29:59I think wanting to integrate into the xStocks pools as as we’re at the beginning of a stock tokenization trend that I think will very much follow what we just saw happen with stable coins over the last decade. I think, cool, you want to be in there. And I think this is a great way to get cheap exposure because I’m sure you can get exposure through a bunch of different vehicles. I just think like the valuations are probably just way higher.

30:31You so you’re OK. I agree on that. What is it? Have your has your opinion on tokenized stock pairing change at all? I see tokenized equities becoming super hot and I’ll cover a project that I think is going to crush this after this point. But I think this pairing thing is just it’s meme coins with, you know, wearing a nice suit, essentially, at this point.

30:59You know, if I pull up the screen share side here, I’ll pull up my my screen.

31:04Yeah, I mean, I’m looking at it right now, right? I saw that post last night.

31:08Yeah, that’s how I did that. And I thought it was hilarious. It’s very true. So I think that, yeah, I think that what meme coins are providing, I think, is a demand sink to bring more and more stock on chain. Right. And I think it starts with that kind of like a little bit in the same theory as, you know, it always starts off as looking like a game. If we call this look like the game, right? Meme coins, the game, then, yeah, it’s bringing stuff on chain and it’s bringing token equities on chain. And then ultimately, we’ll start seeing some interesting primitives because now we have, you know, three billion dollars worth of tokenized stock on chain or whatever that number is. Right. And growing. So I think that, you know, this meta is does it last forever? I don’t think so. I think it’s more so because it’s it’s a little more novel and it’s brand new. And again, like, you know, I’ve said it a couple of times now, I think that the tokenized the stuff we’re seeing with tokenized stock on chain is some of the most interesting stuff I’ve seen in years with crypto. And now all of a sudden, these DeFi primitives can start working that people were working on a couple of years ago, because now

32:28you have like things that have real value, right, on chain, right. And not saying that, like, Bitcoin and Ethereum and all these crypto coins don’t. It’s just that, you know, you could wake up one day and like Bitcoin could be up or down, Ethereum could be up or down 10 or 25 percent, right. If NVIDIA was up or down 10 or 25 percent, like, if NVIDIA was down 25 percent, like, like, there’s a lot of shit going on in the world and you’re not necessarily worried about your portfolio at that point, right. So overnight, right. And so I think that, again, I think that it’s a demand sink. People are going to be coming more on chain. It’s allowing people to do that.

33:10And then I think we’re going to start seeing the second order effects of that of like, cool, what are what are the cool things that can be done? Like, I saw something yesterday where somebody was building a protocol where you can shop, like, at your favorite places, yeah, I think you just you just brought it up, right. You can shop at your favorite places.

33:29I need to invest in this. I need to invest in this. Yeah, you get cash back in the form of tokenized equity of the place you just spent money at. Right. And again, like, I think that, like, this is very, very cool. And I think that, again, there’s something psychological of getting equity back instead of cash back. It’s technically the same exact thing, right? If you want to, there’s just like one extra step. Instead of giving you a dollar, I’m giving you a dollar worth of stock. It’s pretty much the same. You could sell that stock and get immediate liquidity if you want. But there’s something about, like, even I’m looking at like, quote, trons of like, when I get paid my yield, right, I’m like, oh, I’m building my portfolio. Like, I could sell it into cash or whatever. But like, my psychological, the way I’m processing it psychologically is just very, very different than cash back because cash back is like, I feel like it’s like, all right, I’m like a credit card participant, and I’m getting money back, and then I can spend that blah, blah, blah. But I feel like equity back is like, oh, I’m becoming a stakeholder in this business that I’m already a customer of. Right. And I just think the

34:42psychology behind that is just so powerful. And it’s like, it’s kind of like the same psychology that, you know, token launches have, right? Where, you know, when people are like, oh, you know, people are farming the airdrop, collecting points, this and that, right, you’re doing it because you want to get the token, right, and quote unquote, make money off of it. But there is something of like, oh, maybe this, I think at a high level, it’s meant to increase, increase brand loyalty, right? Because like, you now are an owner of it, right? So yeah, well, and I think this is spot on. I mentioned this, my good friend Daniel, when he was here visiting me in Baltimore, I was like, Hey, I started eating a lot more Kava. They have earnings coming up, I’m going to buy some because usually like I’m a good, like even you with like, noticing the air, everybody wearing like the Apple headphones, you’re like, Oh, I’m going to buy some of the stock, like I see the behavior changing. And then obviously, they ripped. And I’ve done this number numerous times where I’m like, all right, where am I spending money? Where am I acting? And then using that almost as like, hey, this is where like, I should put money. I ultimately think if you find

35:57yourself shopping and buying a bunch of Proctor gamble, you know, consumer goods, and that’s spiking up, like probably also want to have some of the stock because likely there are other humans doing the same thing, and that will show up in earnings. So this is my call to action.

36:14For anybody, and I’m going to reach out to a few VCs here, anybody that has an intro to crumbs.

36:19I would love to invest in this. There, I’m trying to go to Oh, here we go. Like, this is my call. Somebody listening to the show knows something about about crumbs, whether you’re a VC or a builder or whoever. This is this is a venture check all day for me. So please, I want to get in touch with the team, as well as I think there’s a bunch of stuff infra related that we can provide to them. So I don’t know. It seems like there’s a lot of people who watch the show. I just replied to the last post and said DM me, please. So hopefully they write back and we can get on a call with them because I do think it’s like very interesting.

37:00I think it’s a slam dog. I also think I will I will note here that Peter from 1KX tweeted a day before this came out was like, I think I identified the next big company like consumer company and I’m going to try to own as much about them.

37:18I would wager that this was the company that he was talking about it just the consumer behavioral here. It’s like this is like a baby between like acorn and in Robinhood and like crypto. If they had a baby, like what would it look like? And it’s this it’s a consumer behavioral change. And I love those, especially if they’re done in a way that they’re not reinventing anything. They’re really just taking one step out of it.

37:48It will come down to moat. We’ll see. We’ll see. Again, the moat the moat side of things.

37:56They’re going to have to figure out how to like own the marketing machine here and then maybe do some like interesting things with on chain, maybe yield. I’m not sure. I don’t think I don’t think this is like a fully fully like hey, no other company can do it.

38:12We own the tech mode will be interesting though. But I’m a backer. So I think so.

38:17I think like the interesting thing with stuff like this is how how much does it not feel like crypto? Because I think like that’s one thing that FOMO did really well, right? Is it doesn’t feel like crypto. And I think any app that can do that, especially an app like crumbs or anybody trying to do that is like you need like Courtyard does a really good job of it too, right? It obfuscates all the crypto away so that you feel like you’re just doing a normal like you’re just downloading a normal app and interacting with it. And it’s like, oh, cool.

38:47Like I got like, you know, stock, right? And I think also like the the I think the Trump account stuff that was announced a couple months ago is also kind of normalizing this, right? Because like, you can give stock to kids and stuff like that. And it’s like, you know, I think we’re like, probably moving closer and closer to a world where I’m like, Hey, Hunter, it’s your birthday.

39:10I know you love Apple. So like, you know, I got you some, you know, here’s like $100 of Apple stock. Sure. Probably more impactful, like if you’re younger, right? Like, like, hey, like, instead of a toy, you know, here’s $100 of this stock, you know, and like, enjoy it and enjoy it when you’re older and you can, you know, it’s been invested for you. So yeah, I just think like, again, these, these are the things that get me really excited about crypto in general, these types of primitives that begin to exist. And I think now we’re starting to get to a point where these things are very like, even, you know, even in 2021, when people are like, Oh, how do I buy an NFT?

39:50And like, it’s still very difficult, right? And it’s still like, for some things, like, it’s not like the easiest, but I think the easier we can make it, the better it’ll overall be for adoption in general.

40:06Agree. Agree. Yeah. Look, and I also think we’ll probably see other companies adopt this.

40:15Most, most likely here will be Robinhood who has their own credit card, has their own reward system, runs all the tokenized stocks, will be very interesting. I don’t, like I said, I don’t think, I don’t think this is something that won’t become the standard, and it won’t become an option for for the right people. But I do think crumbs here has a huge shot at being a front runner of this adoption of human behavior, or consumer behavior going forward. It’s funny, because I also I know a couple other people that have been working on like, this type of stuff, but with stablecoins.

40:58So I’m sure, I mean, I’m sure it’s an easy pivot to take out USDC and put in like, favorite stock here, right? So I’m actually probably going to reach out to them after, after this podcast today to see like what they’re working on. Yeah, yeah. And I think we’ll also see. So in general, I think the bigger part to like, step back as an investor, somebody’s trying to understand this market right now is this crumbs company did not go and like split the atom and do something, you know, crazy, like technologically, they took a, like a very sleek design. They took a very accepted concept, which is cashback, and basically just said, okay, on chain now allows us to give somebody instead of USDC back, we can choose any asset, and we can now do it in a way that creates a different narrative, which is if you buy an Apple iPhone on Apple, you get some Apple stock back. And it’s going to be one to one with what the cashback rate would have been. But we, you know, consumers had changed mentality, what they’re getting, and their mentality when they’re spending as well. This can be applied across the entire financial consumer space, not just for like credit card spending, but for anything that evolves a stock, anything that ever evolves dollar. And you

42:23probably want to start thinking of like, where can this concept or this redesign be applied, you’re probably going to see and be able to understand the best plays going forward.

42:35Off the top of the head, like the launchpad space, so asset creation, and then also probably asset management as well for like just holding on to assets and managing them. How does that get re-thunk instead of just hey, you’re getting a dollar of yield, Quotrons, again, is probably a great example of instead of you getting, you know, $5 USDC in yield, $5 in Tesla stock, and now you don’t sell, you hold it. We’ll get very interesting, we’ll get very, very interesting.

43:08And so keep your minds open, keep looking at the industry, if you have ideas on stuff you want to build, send them in the chat also, I would love to discuss them, or if you’re building something in any of these spaces, I want to discuss it on stream, reach out to us as always.

43:26I got to talk about one other thing that I make sure I get in on the show here about building.

43:33And it’s a good example of if you’re in the space, you don’t, and you’re not working for your bags, you’re not working hard enough, you don’t want it bad enough. Okay. I’m not sure if you saw this story, but there’s a user, Lorikl XYZ, they he’s the founder or one of the co-founders of HyperScan, really, really deep on the hyper liquid space. He’s down, I mean, tens of millions of dollars on different short positions, but one of his largest short positions is on Pons. And I think at one point, he was down about 17 million on this trade, and he had about 70 million, don’t quote me on that, $70 million worth of a short position. As this started to go to the red for him, he basically tweets out fable 5.1 one shot at this Pons family fork, now I’m doing 0% fees and launched Pez.family. We didn’t see this necessarily like hurt the price of Pons, we definitely saw a little bit of price action. But this has painted an incredible target onto this short position. And now he is doing anything it takes to find a way to drive the Pons price lower. And essentially, he’s trying to say like, hey, anybody can just build this Pons company with AI, there’s nothing special about it. And really putting this like narrative of,

45:12okay, launch pads are nothing special, they’re just a brand. And basically customer trust in where tokens launched. Why is it valued at, you know, $800 million market cap, even though they are doing I think $100 million in fees annualized right now. Really, really interesting situation. I’m sure if you search this on x, you could figure out where he stands on the P&L side, but wanted to highlight this. And as you know, you and I discussed a little bit before the show, people are looking and probably hunting this guy with whatever mechanics are possible, whether that’s sending the price higher or lower, and knowing that there’s more, you know, forks coming that are going to try to take this down.

46:01So, okay, I found this, I found this thread so entertaining over the weekend. And it’s like, there’s working for your bags. And there’s working for your fucking bags. And this guy, I mean, do you you built a competitor, and you launched it, the end, like zero, like he doesn’t even need to make money on it. Because if he’s if it works, he’s gonna make so much money on the short. Um, yeah, I mean, listen, I think this has been always the thing with crypto, right?

46:33If something works really well, people fork it. And again, I think a lot of it is the community, the trust that gets built around it. It’s more than just the tech, right? It’s not just the tech.

46:44So I don’t know, we’ve seen this play out, I think we’re gonna we’re gonna see it play out more and more. Because now, you know, like, if you and me wanted to do this, we could technically do this as well. Right? Like, anybody can do it with just like, a $200 a month AI subscription. And yeah, like, I just, you know, this is like, I also think the nature of crypto is very PPP.

47:09And if somebody is making money, and there’s fees to be made, then like, people will try to raise it to zero as fast as possible. And now, like, I wouldn’t be surprised, especially because I think he’s short on perps, right? I wouldn’t be surprised if we start seeing more of this, right? If like, if whatever if what if when sushi swap launched, they took out a massive short position on uniswap. And then like, the lower fees that they would charge are offset by their short position on uniswap, right? So we’re, I think we’re just going to see more and more of this type of stuff on a go forward basis. But I you know, it’s, I it’s hilarious. But he’s also being stop hunted, right? So, you know, I think the people that are in the Pons community that I think are some of the bigger and louder voices, like, they also understand how markets work. And it’s not like a free short, like, he’s definitely going to be getting squeezed. And I’m sure he’s gonna be, he’s gonna have a lot of sleepless nights over the next couple weeks or months or however long he keeps that short position on because, you know, it’s crypto. And since you can see everything on chain, you can see where his liquidation price is,

48:19right? We’ve seen we’ve seen that play out so many times, right? And now that he’s like, on the radar, like, there’s money to there’s money to be made on stop hunting him. So the question is, right, like, how much money does he does he have, right? Like, if he gets close to the stop, can he put up more money as collateral? And then, you know, that gets hunted as well, because at some point he runs out of money, right? So I don’t know. You would like to think he would run out of money at some point here. No, I mean, he will. He definitely will like that.

48:49That’s no, there’s no question about it. Like, you know, he definitely will run out of money.

48:54So what I believe, I believe his entry point is somewhere in the 700 million range. So he’s probably a bit off of it right now. Still, as you can see the Pons chart, if you bought anywhere you’re gonna, you know, get through it, get through it. Like, if you’re gonna, you know, carry around almost any time on the show, we were discussing this down, I mean, like, Look, we just ran up to 40. And then this was when uni swap was like, Hey, we’re gonna launch our own Robinhood launchpad I think it’s definitely OSF, some others got pretty long there, and it was only a few days until that started absolutely ripping.

50:07I know it’s hard.

50:09I don’t like touching the launchpad space that often just because I think it’s often hard to not get run over by another brand name, being like, oh, we’re going to support that chain now and now they gain all the attention.

50:29I like to compare it to like, it reminds me of like watch manufacturers, right?

50:35You see certain, like there are certain watch manufacturers, like yeah, I trust them, I know the name, I know the brand, I will buy from them.

50:43And so like on Robinhood, you have Pons and Flap and a few others, and you’re like, yep, I trust them. On Solana, you have, I mean, really it’s Bonk and Pump are the leading two.

50:58And then obviously there’s a handful of others there.

51:01Base, there’s Aerodrome and Uniswap.

51:05And like each of them you trust, but you don’t have a singular one that’s like, this is the brand name for all launchpads across all chains.

51:14We haven’t seen that happen. It will happen at some point here.

51:17I’m pretty certain of it.

51:20Pumpfun’s refusal to leave the Solana ecosystem is interesting to me.

51:27And obviously their alignment, I think with the Solana Foundation and ecosystem, I mean, they’re fighting a lot of fights right now.

51:36They’re fighting the consumer trading space, as well as fighting probably the blockchain adoption space at the same time.

51:44So we’ll see how that plays out as we go forward.

51:47Gee, anything else you want to cover here?

51:51I got a bunch more topics we can get into.

51:54Obviously enjoyed spending time with you in New York City.

51:57I think we found that a lot of people watch the show.

52:01A lot of people watch the show. Yeah. No, I will say, being in New York, we were hanging out a little bit.

52:08We hung out a little bit at the OpenSea event.

52:11Shout out to everybody watching the show because we got a lot of good feedback.

52:15I feel like sometimes it’s tough because you feel like you’re talking into the void sometimes. So always great to get positive feedback on things.

52:24Alpha is an IRL.

52:26I think that’s always been the case.

52:29Was good to see the NFT space alive and kicking.

52:37I don’t think the turnout was obviously that big.

52:40I wasn’t even in New York for NFT NYC.

52:42So I ended up going to a couple of events just because I was there and people were around.

52:49But the vibes are there.

52:53So I think the OpenSea Pudgy event was focused a lot on IRL collectibles, which as I’ve been pounding the table are physical NFTs.

53:02So I think when people ask, are NFTs dead?

53:07It’s like they’re not. They’re like you’re trading NFTs like your Pokemon cards is NFT like news flash.

53:13So I think being able to see that IRL people are still kicking.

53:17Actually, it was great to see OpenSea there with a loud and big presence.

53:23Like I feel like everybody in the OpenSea team was there, like Devin included.

53:27So it was really cool to see people walking around, showcasing the cool stuff that they’re working on, being interactive with the community.

53:37Gary V showed up, I think, for like an hour signing and signing autographs and talking to people. So it was cool. Right. I tried. I reached out to get the video of you getting doing the photo with him and dapping him up.

53:54I’m sure I couldn’t get in time.

53:57Yeah, I’m sure.

53:59Like somebody took it. So I’m sure I’m sure he’ll show up there at some point.

54:03So yeah, yeah. I got a shout out though, too.

54:06Like I really want to like hammer this out. OpenSea team was so sick because they like they were just walking around.

54:11You could talk to everybody and like on a like non-business level.

54:16They’re just fun people like hang and you know, talk to you for like two hours.

54:21And they obviously love that they’re you know, in the token and NFT space, but that there’s excitement back at the company after a pretty brutal bear.

54:33And I also think the collectability world with them seeing trading cards and like digital to physical stuff taking off is super exciting.

54:43It kind of gives like this fresh breath of air.

54:47I know I went around and was like tapping my phone like you got like points and then you could claim for like digital collectibles during the event.

54:56I ended up winning from one of those collectibles was on Port-Ape Yacht Club t-shirt, which I got. So shout out to Port-Ape Yacht Club for the tee.

55:06I even got a shirt from you from OpenSea.

55:10I got an OpenSea 90C.

55:12It was a vintage.

55:14Like I think that was kind of rare.

55:17Yeah, that was one of the last t-shirts that we did.

55:20I think that was like one of the last they were that was one of the last projects we did. I should hang this on the wall, not wear it.

55:27I feel like this is where I think it’s fine.

55:32But yeah, hang it on the wall. Yeah, put it put it put it behind you on the wall.

55:37But but yeah, it was very cool.

55:39I was very surprised. OpenSea for swag. We need to be like I want to deck out like ours.

55:44We should have like a studio at each of our houses.

55:48A swag studio. Yeah. The Pudgy team. We were talking to the Pudgy team too. They’re like, oh, we got to get you some stuff. So I want the big penguin in my house.

55:56I want people to come over and be like, why do you have a 200 pound stuffed penguin?

56:02Yeah, I don’t know if I’m in my house, but you can have it.

56:06You can put it in your background.

56:09I gee, I think the ladies will love it.

56:12I’m sure they would.

56:15What else we got going on here? I know we have Apple iPhone event tomorrow.

56:20Um, are you buying it?

56:22So let’s say it’s a foldable phone. Are you buying it? No, no. I’m buying it first. I will. I think I think Apple.

56:30It’s interesting. I think Apple is kind of just going throw in like Hail Mary’s all around.

56:35I’m sure they are losing some consumer.

56:37You don’t think so. I think the. No, I do.

56:41Oh, man, I can’t wait for the full phone.

56:43Like it just really annoys me because like I obviously like everybody, you do more and more stuff on your phone.

56:50And there are some things that I use my laptop for only because that has a bigger screen. And so if I had the ability to just open up my phone and like have like a bigger canvas to whatever, check my email, I just, I would do it.

57:05Like I, I’m buying, I’m buying that phone the first day it comes out.

57:09Here’s, here’s my takeaway on the Apple event.

57:11What I’m most excited for.

57:13There’s one specific tech stack in the entire event that I care about.

57:20Well, actually two, I take that back. There’s two. And I’m curious, do you have any idea what the most important tech spec of the event will be for iPhones this year?

57:29Memory. I, yeah, I think, I think it will be what is the RAM?

57:35Because I think they’re only doing pro models tomorrow.

57:39I think it’s only going to be 18 pro and then the 18 polar wolf phone.

57:43And then they’re pushing just a normal 18 launch back to the spring.

57:49But I believe the debate is if it’s going to be eight gigabytes of RAM or nine gigabytes of RAM or potentially 12.

57:57I think those are the three numbers floating around and then a minimal memory storage bump up to either 256 or 500 in 12.

58:09Don’t quote me out there. But essentially the whole the whole conversation here is around memory and what are they going to do for the pro line?

58:16And then where does this put the expectations for the normal phone going forward? So I don’t know.

58:23I think I think if you see the RAM higher and the minimal memory storage higher, it is a bullish thing for the memory environment, just meaning that Apple recognizes that you have to have these higher memory usages for their pro lineup and then likely forcing all their consumers in the spring to have to buy the pro models that they’ve been producing for the last six months by not putting the RAM as high.

58:54But if it’s a higher ceiling, they’ll be able to go to like eight and then just be like, oh, you can’t use the pro features.

59:00You have to use the pro model.

59:02That is my takeaway. Higher the RAM, the more memory I’m buying tomorrow in the equities market.

59:19I like that. I wasn’t even thinking about that. So I think that to your point, that’s probably the trade. So I think that that’s probably what people will be able to do. And I owe this to you a lot since starting the show. I’ve been thinking about second, third and like fourth order effects of Apple drops on iPhone.

59:27Most people, the direct thinking is I’m going to go like based on their event and the reception of the event, I will go buy or short Apple stock.

59:35However, we both know that an iPhone is made up of metals.

59:37It’s made up like they can come out tomorrow and be like, oh, we’re using a new like processor.

59:41It’s really interesting because like I remember it.

59:43So when I when I was trading like these iPhone events would always be like events that like in the middle of the day, it’s like, all right, I need to be there. The thing about them is that even though they’re not like they’re not like they’re not like they’re not like they’re not like they are live streamers of the lay on it.

1:00:04Right. So there’s usually not even live streamer.

1:00:06They’re shot weeks before now.

1:00:26But then to what you were just saying is there would be like, oh, this is the type of glass like we’re using Gorilla Glass, blah, blah, blah, blah. Gorilla Glass is made by Corning.

1:00:36Right. So there would always be like a trade if like they were if there was more Gorilla Glass usage or blah, blah, blah, or whatever to buy or sell.

1:00:44It’s like, oh, the megapixels are this.

1:00:46It’s like, oh, this is the component maker for that specific megapixel. Right. And it’s like all these types of trades.

1:00:53So to your point, there’s definitely like a memory trade there.

1:00:56Probably there’s most likely a memory trade there.

1:00:58Yeah. I think it’ll be interesting, right?

1:01:02Because like they were basically trying to lobby to get what is it?

1:01:06CXMT, CMXT, the new Chinese memory company to sell them memory.

1:01:11We’ll see. Like we’ll see. Right.

1:01:13But like to your point is it’d be very interesting to see what the composition of stuff is. I assume it’s going to be at the higher end because these are the pro models. So, you know, like I think like, you know, I’m probably going to be paying three thousand dollars for, you know, the mid tier phone. Like I got I got sticker shot when I went to I bought a new MacBook last week and I like literally I felt like I got punched in the face with how much it cost.

1:01:41I mean, it’s probably I was like six grand.

1:01:43It was six grand on the north side of five thousand dollars when I used I when I think when I bought my twenty one MacBook, I was like it was like forty five hundred.

1:01:52People were like, whoa, like what the hell? Yeah, that’s crazy.

1:01:54I think I spent like three grand on my last one.

1:01:56And I was like, that’s a lot.

1:01:58But like, yeah, and I maxed.

1:02:00Well, it was also like NFT bull season.

1:02:02And I was like, all right. Yeah, I got to buy the JPEGs.

1:02:05I need I need the best compute to buy these JPEGs.

1:02:08I will look I haven’t upgraded my iPhone in a long time because I don’t think there’s been a reason.

1:02:14I’m at the point, though, where like, bro, I’m I got to upgrade.

1:02:18I’m getting weird looks now. It’s bad.

1:02:22You got it. You got to go to the folding phone.

1:02:24I’m telling I’m a day one buyer.

1:02:26I can’t wait unless it’s like unless it’s like really thick and like, yeah, I like I’m most likely I’m like ninety seven percent a day one buyer.

1:02:37My my prediction is there’s memes around the folding phone.

1:02:40It’s like, you know, you might have like it’ll be memes like ladies, you might have a blue blue text bubble.

1:02:48But if it’s a floating phone, like don’t talk to him.

1:02:51Like I can see that coming.

1:02:53I maybe maybe. But like, again, like I don’t like it’s like it’s not for everyone. But like there’s Samsung’s been making foldable phones for like a decade at this point.

1:03:04So like there is a market for it.

1:03:06There is a market for it. And obviously Apple likes to wait back, see things play out and then make their move once they know how to perfect it and absolutely dominate at it.

1:03:16So excited to see how they change the consumer space and the folding phone vertical going that direction.

1:03:26I have one last topic I definitely want to talk about.

1:03:28Very short one here.

1:03:31I will pull this up on screen.

1:03:34I’m not sure if you were following this, but the original blockies drop was just looking at this the other day or this morning even.

1:03:45If you aren’t familiar, this project did a mint by raffles.

1:03:50You deposited money and that’s allowed you to win the different number of mints that you’re allowed to get.

1:03:58They had $65 million in deposits, $65 million worth of capital tied up for the mint.

1:04:06The mint still obviously were only like .02 or .025 I think for each mint.

1:04:14Floor price is .129 with a max bid.

1:04:19And I think the bigger number here is a max depth of about, I think it’s like 5 ETH worth of bids into this.

1:04:30So just over 10K worth of demand.

1:04:36We went from $65 million deposited to just 10K of demand for these NFTs.

1:04:44It made me think of the good old days when we used to see this demand and then obviously it fall off.

1:04:49I’m excited for what blockies do.

1:04:51Hope it whiplashes and goes higher.

1:04:55Actually, it’s just PFPs.

1:04:57I’m not sure the full extent, but it was interesting to see the marketing around how much hype and all the attention that these got.

1:05:09It’s funny because I saw people when it happened, people like 2026 and there was just a $65 million mint on NFTs.

1:05:19I don’t think it was a $65 million mint.

1:05:22Again, I don’t know anything about this project, but I was like, I’m pretty sure it was exactly what you said.

1:05:31You get pro rata of what the total pot is, what you put in.

1:05:37And then I think they held onto the capital for a little too long.

1:05:43So then it became like, wait, are they going to rug because it was in their own contract and it wasn’t in a meta-dow or something where there’s a trusted, what’s it called, custodian almost.

1:06:00So, yeah, again, to your point, you would think that if there was $65 million worth of demand, the floor price would be like, I don’t know, one or two ETH.

1:06:11So, again.

1:06:14Another thing to keep an eye on, I would say my attention is on Zcash, Pump, and each of those also setting up very interestingly on the charts.

1:06:26And as always, my kind of old man, uncle commentary here is unrealized P&L is not real P&L.

1:06:36We did a deep dive into the top leaderboards, not only on Pump, but also on FOMO.

1:06:42Of the, I think it was like something like $30 million worth of the top people, it’s like $35 million.

1:06:52Of that $35 million, the actual realized was basically like a couple hundred thousand dollars, maybe a million dollars actual P&L.

1:07:02Just kind of hammering home the fact that not everything is real.

1:07:07And a lot of people I know from previous cycles who’ve been sitting on $5 million, $10 million positions, only being able to get out maybe 25% to 40% of that position at the end of the day.

1:07:21And obviously also holding onto it way too long.

1:07:24Kind of my call to action, anybody reading this show or listening to the show and reading the timeline about all the hype in a token, the second you want to take a screenshot, the second you want to do something around a, you know, basically like a bag, a bag dance and be like, you know, do your, do your, I told you so campaign.

1:07:47It’s time to sell or at least take some profit.

1:07:50I know I sent some screenshots about Quotrons.

1:07:53Probably should have taken some profit when I was up like irresponsible amount of money.

1:07:59So I’m going to keep saying this for the next 20 shows.

1:08:04No, I think it’s smart. I know I’ve seen it on the timeline.

1:08:06I think say was pushing back on some of that data that was posted, but whatever.

1:08:14That’s all above my pay grade. I’m just watching.

1:08:17And, you know, I think even from the trading days, right?

1:08:20Like you P&L is not the same as realized P&L.

1:08:23So, you know, when you put it, when you lock it in and you can spend it at a bank, right?

1:08:30And you know, put it in your bank account and spend the money and pay bills and do all that.

1:08:34That’s when it’s real until then. It’s just magic internet money.

1:08:40It is. It is. Gee, anything else you want to go over?

1:08:43Rapping up the show today here.

1:08:45No. You know, I’m looking forward to the Apple event.

1:08:49Hopefully those things go on sale tomorrow so I can just run to the store right after the event.

1:08:54But I know it’ll probably be like a week and a half or something if, if, if they’re, they’re out that early.

1:09:00And yeah, I mean, I think like I’m excited to see, you know, how Claude kind of punches back to the open AI model drop.

1:09:13I’m sure they’re going to come up with their, their own thing.

1:09:15They’re also got the IPO coming up. So, you know, I think this is like this is a bazooka fight between these frontier models because they also know that they need to go public and they need to choose up their valuations and all the stuff like that. Right.

1:09:29I think we’ve got, I think we’ve got an interesting end of the year set up. So, oh yeah, I mean, that was going to be my next comment.

1:09:36I think the two areas we got to watch our airdrop season is 100% coming and we are going to see AI like mafia wars there as well as everybody kind of gears up for IPO.

1:09:48Just expect everything to get juiced because you know there will be a thumb on the scale in some way in that trade.

1:09:58For sure. So, looking forward to it. I’m sure there’s gonna be a ton of new stuff when the next time we see each other in two days.

1:10:06Exactly. I will look forward to it.

1:10:09We’re back Thursday morning 1030am Eastern time as always.

1:10:14If you haven’t make sure you’re following Full Port show on X. You can see all the clips latest news and our guest announcements.

1:10:22And as always, thank you for tuning in. We’ll catch you on the next one. Cheers, guys.