The Ledger, every show

“The best way for Bitcoin to really work is for the U S to collapse.”

“I really think crypto is the only real venture investable vertical that is taking place right now.”

“Stocks are going to tank again 100%.”

“China wins. And that this was not like, this wasn't the case after nine, 11 in the financial crisis. Like after both of those, the U S stepped up, right? The U S like had everyone else's back, but this is A, like we're just feeling it's very de-globalized bec…”

“I do wonder if we will have an election in November. I'll say that. I don't know. I w I don't think it's crazy to think that we won't have, what happens is you delay, quote unquote, you delay the election in November.”

“This idea of like creating a negative CAC SaaS business is Probably the only way to build a successful SaaS business today in my mind.”

“CoinDesk almost died in 2019 because of that reason. They had like, I don't know, 10,000 plus people in 2018. And then in 2019, they fell to like 2000 people, right? They fell 80% and that almost wiped out their whole business.”

“It's an enterprise events platform. It's like, it's, they sell it like SaaS. It's like 20 K a year, 30 K a year subscription. You host all your platform, your events on them. They don't take a cut of the fee, of the ticket sales. I don't think it's just a, but…”

“Of my liquid portfolio, I'm, until very recently, I was a hundred percent in crypto.”

“No single person ever got wealthy through diversification.”

“In the 2008, 2009, the pumping money into the economy that actually worked really well. Right. And we got out of that recession. Why? Because it was a financial crisis. So people didn't have enough money. You print more money, you give them more money. They go…”

“What you're going to have is you're going to say, you're going to have these folks saying, I need to hedge against the, I need to hedge against our current system because we are in a system that they see completely falling apart. And so they need to, what they…”

“My price target for the next two years at a minimum is 20,000 dollars. That's at the low end. At the high end, that's a 100,000 dollars.”

“I think a lot of people now with startups do it on notion, but that doesn't really solve it because notions pages, even though I want to love them, they end up oftentimes sucking and there's like, it's really hard to find things.”

“The women's Personal care market. Went from twenty seven billion in 1997 to five hundred and eleven billion, right? It grew about 20 X in the last 25 years. I think the men's care market is about to do the same thing.”

“Look at Huberman, Peter Atiyah, like Brian Johnson, like these weird, like health folks are celebrities now. That's never happened in the history of the U.S. Or the world.”

“I think for first time founders I am convinced that building a B to B niche media brand is the best way to go make your first buck.”

“I talked to a company earlier this week that's doing 500 K a day in revenue. They have 40,000 users. They launched a couple months ago and they built on the back of this like meme coin community.”

“I would argue though, like the problem with most media companies and the reason they don't work is because they're started by folks who can't monetize. So they're usually started by a podcast host or a newsletter writer in 20, 23, and they're brilliant at cont…”

“The thing that a lot of entrepreneurs get wrong with events is the business model of small events is a really good experience for attendees. It's really fun. You bring people together, good community building. It is a shit business model. So the kind of secret…”

“Everybody thinks that founders had this vision from day one. But if you talk to founders who have built big companies, 99% of them do not. They do, they never did at the beginning. Second-time founders actually do, I've noticed. Like, second-time founders will…”

“I actually think there's more Safety and security and doing something that you own and where you can like manage a hundred percent of the risk. Like you can be the best employee somewhere. And if all hell breaks loose and like the company's doesn't have a good…”

“So MakerDAO, for example. They'll do a hundred million of revenue this year.”

“Anyone who's still in crypto is not a scam artist. It's to the, no one operating in a market that's 90% down trying to scam people.”

“This is the greatest financial crisis that we've seen since the great depression.”

“I think we're, we'll be at 10 trillion dollars right on the feds balance sheet, which is basically the amount of money that's in the economy right now.”

“When you get a ton of like stimulus, well, the equity market's going to pump. It's not just, I, you know, I think Bitcoin's going to go up. I think gold's going to go up, but I think the equity market's going to absolutely rip.”

“Charles Schwab put out an interesting report. It was like, it showed the baby boomers, their top 10 holdings, Gen X, their top 10 holdings and millennials, their top 10 holdings. Well in the top 10 holdings for all three of those classes, you had Amazon, you h…”

“First year of business, 250 K of revenue. Second year of business, two million of revenue. Third year of business, three and a half million. Fourth year, 12 and a half million. Fifth year, 25 and a half million. So, and we didn't raise any venture that whole t…”

“So then in May or April, 20, 23, about a year ago, we raised twelve million at a one 35 post money valuation.”

“And that the Degen chain L three is doing the most transactions per second in the entire Ethereum ecosystem today.”

“Last year we had a goal of twenty million in revenue, and we pretty decently exceeded that. and we've been profitable since day one. So, yeah, we bootstrapped the business for the first five and a half years, and then back in April or May, we took we raised …”

“Last year we did, like, well over ten million from permissionless.”

“50% of tickets get sold in the four weeks leading up to a conference.”

“Ended up having 4600 people in my downline had like a thousand people in France.”

“This idea that it gets easier as you grow, right? That's I think anyone startups are like this weird or being a founder is this weird thing where like, I think what they, you kind of hold constant, the rate at which you can tolerate problems and Everything els…”

“You had an economy that was running it Three and a half times leverage, most leverage in history.”

“You had pre-tax corporate profits in the U S hadn't grown in like five, six, seven years. Right. But the market had doubled, right. Because of corporate buyback.”

“Sixteen million unemployed in three weeks. That's more than we're unemployed in the global financial crisis.”

“33% of US apartment renters didn't pay Their April rent, or excuse me, didn't pay their March rent, right?”

“The Fed, like when the Fed does these buyback programs and you know, gives money to the banks and things like that, or excuse me, tries to give money to small businesses. They're not set up to give money to individuals and small businesses.”

“Plus you've got a massive transference of wealth of trillions of dollars going from old folks to millennials. And we know one thing, which is millennials love Bitcoin.”

“If the, what if four hundred million continues to pump into the system, then should double the price.”

“Then COVID hit, and 80% of our revenue got wiped out overnight because we were, 80% of revenue came from events”

“Request to delay mortgage payments grew by 1300% between the mark, the week of March second and the week of March 16th and another 1900% in the set in the latter two weeks of March.”

“So what's about to happen in 30 days is the Bitcoin halvening will programmatically cut the daily incoming supply of Bitcoin from 1800 To 900.”