The Ledger, every show

“There's this swap mechanism where, If suddenly that yield starts to drop or if they're not able to maintain it, if people start selling rather than buying Luna, and if you have a bunch of people swapping It does create this market spiral, right? Like there is …”

“I actually don't know where I would land on the bet for one year from now, but 10 years from now, I like I like the Duquan side of it.”

“My gut tells me that we're going to see like a pretty bad Q two from an economy standpoint. Like I wouldn't be shocked if we actually saw a negative growth and people panic. I think the fed will just like reverse course very quickly. Cause they've shown an unw…”

“The middle of this landscape that exists here is going to be challenged. And I think what it leads to is maybe not the death of the middle. It's going to be a survival of the fittest though, where they have to, and will be forced to figure out what their true …”

“TikTok, which is Chinese owned, and de facto controlled by the Chinese government, by the way, and owns the data of literally every single teenager in the United States.”

“I do think in 10 years, it's hard to imagine the level of criminalization around psychedelics as exists today, and so if you were out in front of it and building You should reap outsized rewards for doing that.”

“I actually looked recently at my portfolio and like my five-year returns and the like smart investments I made like things where I thought I had edge or some sort of insight that was going to make it, you know, beat the market have underperformed the dumb doll…”

“FTX is now, you know, under a definitive agreement to acquire block five for like, I don't really care how, you know, the CEO positioned it, you know, with the revolving line of credit, that's not really enterprise value. It's not like buying the equity, but l…”

“Yeah, I think they're going to have to create like a You know, like a separate entity that kind of allows it to be more free ownership and it'll come from one of those big studios. Not a, I actually don't think it'll be a new studio that raises money.”

“The U.S. Government has, like, basically secretly signed a deal with him that this one billion dollar bounty that they have found from a hack of the Silk Road, they are crediting towards his debts to the U.S. Government, and so he has now effectively paid back…”

“I think there's, like, a broad case to be made that that he will get out at some point.”

“We have friends who are like literally making multiple millions of dollars of cash income a year and paying zero dollars in taxes because they have all this depreciation off their real estate portfolios. It's like a well-known loophole that was created by the …”

“There's twenty-five billion dollars of debt sitting on the business now, and that debt has interest rates on it that aren't super low. And in an environment where so far the, you know, the baseline rate is rising right now, it's actually going to be a shitload…”

“My gut tells me that more open leads to more memes, which will continue to drive growth of the ecosystem, and, I think that that will win in the long run.”

“Only two percent of Spotify artists are earning more than 1000 dollars a year, and one 10th of one percent.1%, are earning over a hundred K per year.”

“I think that a lot of tech jobs are going to go back to being in person versus this, like, you know, assumption that everything is going to be a remote forever.”

“And part of me thinks that there's actually like a increase in overall societal happiness from having things that we love surface to us without us actually doing it. And this is like an unlock for that. If you actually have AI that suddenly is able to, maybe n…”

“Alexis Ohanian has at seven, seven, six, they have this internal proprietary software they built out called Cerebro. I think it's called like Star Trek reference that manages like all of their internal stuff. And one of the portals is this like value add, like…”

“The stock is gonna be 200 dollars if you just drive more direct response ads.”

“When we went and got quotes from those preferred providers, it was literally like 25 grand to move cross country. We went and got an outside quote, not a preferred provider, and it was like 10. And so literally those people are just providing you these massive…”

“Science is starting to show in a meaningful way that psychedelic compounds can be extraordinarily useful for people dealing with depression. I mean, we're gonna, it's gonna completely separate and completely change antidepressants, anti-anxiety medicines, and …”

“There is scientific evidence that if I have my phone out on the table, even face down while we're having a conversation, you and I experience less feelings of connection after that interaction than if I don't have my phone out in front of us.”

“If you have a hard conversation with someone, going for a walk with them while you have the hard conversation is scientifically proven to improve that conversation.”

“Steve Jobs was looking for someone to hire and saw his resume and like saw the IBM track and was like, oh, weird, big company guy, probably not a fit. Then saw that he had taken this job at this little startup, and was like maybe this guy's actually different …”

“The Harvard study of adult development is this incredible longitudinal study that was done over the course of 85 plus years. They tracked the lives of 1300 original participants and then all of their descendants, so like about 2000 plus people, and they found …”

“Anyway, now fast forward like three months after initial launch and they're doing, you know, 10 plus million of GMV through this thing without having a single dollar of marketing expense yet. Have not spent a dollar. It's been all completely organic and like p…”

“I imagine like OpenSea will work on this or will acquire a company that is going to do it.”

“The challenge with most of these businesses historically, by the way, has been the customer acquisition cost. Is insanely high because kids are like Gen Z, all of these like teen investing apps and teen banking apps, notoriously very difficult businesses that …”

“I was looking it up the other day, the unit economics on the boxes, like they make a couple million dollars per box with like really high margins. Cause it's literally just a pool. Like it's not a fancy place.”

“I bet you could build a seven figure community around older people that are looking to like understand how to spend and live in a more kind of Glamorous way for the remaining years.”

“I do think you're gonna see more companies having to reprice and think about employee incentives in a more comprehensive way.”

“In their most recent drop, which was a error in the code around the smart contract that was exploited and caused about thirty three million dollars to be locked forever in the smart contract.”

“What really happened was that someone got access to the private keys that stored the funds that existed in the, like, Ronin bridge that was kind of between between currencies and into the game and someone took six hundred twenty five million dollars worth of…”

“And so the businesses that are thriving and that are going to continue to thrive in the coming years are going to be the ones that actually have a story to tell and tell it really effectively.”

“This past week he did a deal for Allegheny and he structured the deal and he said, I'm not paying bankers a Dime in this deal. And he cut the deal price by a certain amount because he said, I am not paying Goldman Sachs a dime on this transaction.”

“Equity investors expect a 20 plus percent return on their investment. Debt, right now, you could probably get debt in the mid-single digit. Yeah, depending on what it is, four to seven percent, four to six percent, depending on how risky.”

“That Squid Games reenactment video did more generated more revenue than the original, which is completely insane to me.”

“If you bring these people together, if you had the collective sway, Of a bunch of the biggest YouTubers, a bunch of the biggest Twitter, a bunch of the biggest TikTok a bunch of the biggest Instagram, et cetera, and you kind of brought it into a single fund, t…”

“Basically, this was, it was ten billion dollars that was gonna be the impact to Facebook in 20, 22 was what they said on the earnings call, which, as he pointed out, is a, it's a pricing change because it's the level of price you can charge to the advertisers,…”

“I've written about Disney's IP coming into public domain and how Disney will fight to the death to maintain their, they've actually changed IP law in the U S on like seven or eight occasions to avoid Mickey mouse coming into the public domain.”

“When you look at Spotify relative to other music streaming platforms, they are way lower than others, way lower than Tidal and some of the other players in terms of the average payout per 1000 streams for the artists.”

“Doge was the, over the past 12 months, the fourth most traded asset across all retail brokers and exchanges. And it was, it beat out by the way, it beat out Apple, Amazon, and the SPY index, the S&P. It was literally behind Tesla, Bitcoin, and Ethereum”

“I mean, over a million and a half probably pre-launch. We hadn't even released anything yet.”

“I'm getting messages from Red Bull, Rockstar, Monster Energy all these big agencies, huge investor groups reaching out with interest.”

“So six months go by and I'm like talking to all these people early in the morning. And I was having a conversation with one guy and I walk away and someone comes up to me and is like, do you know who that is? That guy you were just talking to? And I was like, …”

“He is the CEO of one of the largest companies in the world, and he wakes up at 3:45 every single day and goes and works out.”

“Michael Norton, this Harvard Business School professor, went and interviewed high net worth individuals, people worth anywhere from a million on through a hundred million plus. And he asked them, how happy are you on a scale of one to 10? So they answered, and…”

“The Forbes top 10 richest people in the world have 13 divorces among them. Last time I checked.”