WEBVTT

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I

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Hope it's everything you wanted

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That's always my hope and dream on this thing is that it's everything you all want and you all hope for

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But what are we talking about today?

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Bitcoin hardware we want to download we want to update

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JD you are very familiar and close to this stuff because you

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Have some connections, let's just say that are that put you in privy conversations. And so we wanted to try and have

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folks

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Yeah, I want to try and see like what's happening on the inside. What's the

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What's the Bitcoin hardware stuff obviously?

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Hardware is a part of the Bitcoin world and a part of the Bitcoin

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Ecosystem and it's very important Bitcoin mining needs hardware Bitcoin nodes need hardware and without these things

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You don't have Bitcoin. So yep

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Good you want to start with just a high-level

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Overview actually probably might even be good to just talk about the basics of like, you know

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What what are the different types of hardware and then what?

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What's happening in those spaces?

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yeah, I think we can do that and I think we can't even dig one one layer up higher and I and if you guys

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Have any more insight on the like power grid side of it because there's a bunch of different

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Pieces I think the beginning of it is if people aren't aware actually kind of like the the energy money is what I'm gonna call

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Bitcoin idea actually originated from Henry Ford and I believe it was in like

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1940 whenever he wrote the articles an article named the New York Times I can try and find it

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But he essentially posited this idea of an energy based money

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Hashtag Bitcoin and so it took a while but it was interesting because he was thinking about this and what he posited in his article

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Was if you have a money that's backed by energy or a currency that's backed by energy

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Which is something that's finite based on physics because you have to have conservation of mass and all that stuff

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Wars would end that's literally what he posited back in the day

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Was you would have wars end because you can't fund these endless things forever

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If you have a currency that's actually based on something and so flash forward to now where we have the tariff war going on

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or we have

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You know the the

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centralization of not just Bitcoin mining but the centralization of

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manufacturing

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period you know that people don't realize that the largest manufacturer of

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Semiconductors in the world is a company called TM TMCI, which is basically Taiwan

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Like silicon manufacturing company, and I think it's TSM. They did just announce that they're opening a plant

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I believe somewhere in Texas

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But if you take China so mainland China and then Taiwan those two entities and merge them together

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Which this is actually why everybody was always talks about Taiwan. Like why is Taiwan so important because Taiwan as a

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small

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island in the Pacific Ocean

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Equates to I believe 56% of all silicon production in the world. They're the largest manufacturers of silicon

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Yeah, then if you take China mainland so you take mainland China and silicon and

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Taiwan and merge those two together that equates to like 94% something like that. It's it's in the 90s

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Percent of all manufacturers silicon in the entire world. Why is that important?

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because at the end of the day if you don't have silicon these things don't work and

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The issue with that is we've become so dependent as a culture and as a society on

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Silicon manufacturing the the biggest

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risk we have in

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Terms of society not just Bitcoin is the centralization of the manufacturing of those ships because now we're in this terraform with China

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Which is doing wonders to kind of remove a lot of the inflation

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We're actually seeing deflation in the market, but the big issue that we're seeing to go to actually we're gonna question is now

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We're now getting an understanding though of the danger. We're in

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When it comes to the centralization of the manufacture of chips not just for you know cars and for computers and for all that stuff

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But the centralization of chips for a six for Bitcoin

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China just said yesterday, which again we don't have proof of this, but they said they just sold 15,000 Bitcoin

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Yes, I personally don't believe it show me the UTXO show me the transaction

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but the reason that that is actually super interesting which now plays back into the hardware thing is

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Hardware and software are really difficult to reverse engineer, but hardware is even harder because if you can get software

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You can kind of poke and prod at it really quickly if you have a computer you can kind of look at it

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You can open it you can look under the hood

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Hardware is not that way think of hardware as a gated thing where if I you know you send water down a hill

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It's going down that hill

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It's really hard to push water up the hill

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To try and see where it floats because like if you push the water down the hill you see it goes in all the different

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Like you know crevices and does all that, but you can't really push the water back up the hill

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So if you're trying to reverse engineer it, it's a lot more difficult to find

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Hardware back doors so like Scott and the bid axe guys are doing a lot of really good reverse engineering

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That's actually how they made bit X work, and they're kind of putting it all putting all that out there

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but being able to find a back door which a back door if you're you know if you're familiar with the term if you've heard

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the term a

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Software or a hardware back door

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Would allow you to put something into the hardware or the software that would give you complete control over it one of the things

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I think it was on Rogan or

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Tucker the other day, and it's been kind of going viral on the internet is the Department of Homeland Security when

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Somebody was importing a power grid so to manage the electrical grid

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They have these giant transformers somebody brought in the transformer from China

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And the DOD heard just caught wind of something and what they caught wind of was this

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Particular grid thing had a hardware back door in it ie China could turn off. Thank you camera for freezing China could turn off

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this

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piece of our power grid

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Ad nauseum as they would want to do and that thing goes into now

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What the bigger topic of this Bitcoin mining stuff with the centralization of all of these ASIC chips being built in China a?

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Nation that has been openly hostile towards Bitcoin

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By kicking all the miners out. You know

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Well, they've attempted they've attempted to be hostile they've attempted, but the problem is that

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Bitcoin has a higher level of game theory than they can engage for sure and so the really that mustering right

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landing the plane though is

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you have

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Centralization of the manufacturing of these chips we need to decentralize that and

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That's honestly one of the biggest problems that we have and personally I think would be interesting to see

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How we can get that here at LA that's kind of where it is

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So I guess the question to open it up is

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You know and I just kind of like went high level on like a bunch of different things, but hardware back doors

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and then like militant nation-states can

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Bitcoin survive that I

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I

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Mean yes, but to like to even just to just like wrap that up into like a

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More digestible entry-level kind of thing what JD is talking about here is

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To mine Bitcoin you need hardware and

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That hardware needs to be manufactured

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China

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Presently manufactures most of that hardware some would you say 90 think China's actually for when it comes to Bitcoin so all

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Silicone is like 90% I believe when it comes to Bitcoin mining. It's like over 99%

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There is a very few if any a six not manufactured in China

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so if if there's the possibility of having a back door on a

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Bitcoin

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ASIC minor

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Then that can for instance with the ant bleed

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Vulnerability, which I don't fully understand, but it it's it's kind of a remote access kind of thing

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What's like hey, you can shut down somebody's minor from China?

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Because there was a vulnerability a back door that they put into these miners this happened years ago

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Actually, I haven't again last week with the new firmware up to in the s21 pluses

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Yeah, so there's another interesting thing. That's continuing to happen. Yeah, so essentially these hardware back doors are

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Are real we're starting to see that they're real or rather. It's seeming like it's plausible that they're real and

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They're starting to be

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Put in place we'll put it that way and so it's a shout off just one minor

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They used a back door to shut up one minor so no there is a firmware update for the s21 pro

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plus I think and

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After people were doing this update they were no longer allowed to mine on certain pools

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And so their miners just would not connect to those pools

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and so that's the kind of stuff that we're getting into is that is if an update is pushed and

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You just kind of are doing what you're doing you're doing you're okay cool

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We need to do the newest update because I've got security bug fixes or whatever

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Could you do an update that bricks your minor from be or rather?

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Restricts you from doing what you want to be doing you know because ant pool is the largest Bitcoin mining

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conglomerate

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Not just from hashrate, but from block temple construction like where there's a whole bunch of different things here

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But hardware is so we want to talk about but they they legitimately did something or rather it appears

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You don't have proof yet, but it appears. There is something that was done that is

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causing a

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ruckus with some people trying to mine on particular pools and

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It's it's only after a software update because the people who did the update on some of their machines and not others

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The machines that were not updated are still able to mine on these other pools

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so that's one of the issues are starting to see now is the game theory of if China wants to win the Bitcoin war

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They're going to war and they're actually gonna like start doing stuff like this. I mean

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hilariously they've also just

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allegedly sold

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15,000 Bitcoin for gold right so I

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Mean they're interested in control right any power structure is interested in control so whether or not they believe that

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Bitcoin then nobody can do anything about Bitcoin. They're still interested in the control. They want to control Bitcoin right oh well

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You have fun with your bitcoins as Trump says, but we're still gonna try and control that ecosystem now

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The thing about Bitcoin is that nobody can control it and

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The the result of that is is is just straight up well

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We really don't like that. We are manufacturing a six in China, so let's manufacture that in the u.s.

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Or let's figure out a better

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You know less controlled situation. I want to take ownership of that pipeline on you know figure out how I can get

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How I can solve that problem how I can meet mitigate that risk how I can reduce that

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Exposure right

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Yeah, I agree. I'm curious

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This is definitely gonna be a topic where I'm the one that needs it to be explained to them like they're five

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But to me the hardware backdoor is such a bigger deal

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If you're running a node if there's somehow to some way to manipulate know yeah at a large scale

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Because the ability to prevent

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Miners from mining just makes it more likely for a short period of time that other miners are gonna get the Bitcoin instead

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Which doesn't actually threaten the system at all?

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It's a way to gain

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Razor-thin odds it's like pushing the casino in your favor a little bit

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Yeah, in terms of a threat to Bitcoin

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It's it's kind of a complete non sequitur to me right if you're if you're manipulating miners

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Yeah, because well, I mean there is a threat there like you can you can

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Reverse transactions within a certain time frame you can do you can you can cause damage?

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But the network is resilient, it's that that damage will will not be very long lasting

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No this guy right here

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These are all this is my

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Raspberry Pi

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high availability node

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To your point directly

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Corey those are that's that's five Raspberry Pi nodes

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Orchestrated together using kubernetes and

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if

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Raspberry Pi like if that found if the Raspberry Pi foundation

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Basically was infiltrated and they decided oh, you know what one of our primary use cases is for Bitcoin nodes

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so we're gonna

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Put in a backdoor in the hardware for Raspberry Pis

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that basically says oh we recognize that a Bitcoin node is running on this Raspberry Pi and

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And

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We're gonna you know, oh we oh they usually use this particular

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consensus

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mechanism

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21 million Bitcoin. That's the standard mechanism. Well, if you're running on a Bitcoin or a Raspberry Pi node

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you know if it has a

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Back door, maybe they maybe some nefarious actor would want to change that back door and that's like that's the real threat

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By the way, I made this node years ago

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I do not recommend using Raspberry Pis as nodes anymore, but it's a whole nother conversation

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But um, yeah, of course, that's what I mean with the node

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That's yeah, the back door that could actually real a significant number of nodes feels like the real threat

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Yeah, and that all would come down to the silicon though

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Right is what the thing the the brain of the node is the silicon and that is the the key here is the centralization

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Risk outside of the ASIC construction is the actual CPU or SoC software or system on a chip?

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Infrastructure like or like hardware infrastructure that would cause these issues because if you're you know

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You build your hardware in such a way that it sees a Bitcoin transaction

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Coming and it just basically flushes that out

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You know that they flip a switch and it's like cool now all nodes that were manufactured or that exist outside of China

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Essentially just flush Bitcoin transactions now, we're gonna get into an issue now again

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we're getting over my head when it comes to actually how some of this technical stuff works, but the the TLDR is the

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decentralization that was the risk and so the question comes in do you guys

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Do you guys ever?

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be

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You know manufacturing coming back to LA you guys see this like that's been actually one of my hopes for a long time

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This is seeing this become big. Yes

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Yeah, that's what I'm hoping but I mean, it's gonna be difficult. I mean before I answer I want to hear Anton answer

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Well, I'm not I'm not trying to change the subject

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I love talking about this stuff, but I do want to bring up another thing

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Do you guys remember in the late 90s to early 2000s? I actually even before that

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Because we're all about the same age. Do you guys remember Circuit City or?

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Fries electronics. Oh, yeah, and you go there and you look at the latest

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Sony little or those things called the little flip computer things

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You got Vizio or the PSP?

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Yeah, but what they call that device where it's like a little mini computer that everybody used. Oh the the pocket PC type things

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Yeah, there was a word for it. Yeah, they're always coming out with new

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Hardware that was really cool that had different features and now when we think of hardware we think of a black

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screen a black mirror and

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Something that I think a lot of Bitcoin errs

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Get excited about have gotten excited about as people become Bitcoin errs is all of the weird hardware

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That's involved with Bitcoin. You have hardware wallets like there were ledgers treasures

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Cold card, you know cypherpunk ism has this hardware aspect to it. Maybe that changes in the future, but

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You know if you've ever mined if you've run

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GPU mining or if you've had a six

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There's a lot of different hardware that's used for it. And in the future if we're using Bitcoin as money

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There's a lot of different ways that we can interact with the world like bond or and I were talking about before we went on

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The tap card that people are using for lightning in Costa Rica

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there's all this cool gadgetry and people have to make that gadgetry and

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So there's I'm just saying there's a big opportunity for people to manufacture actual products again

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And so we'll we'll manufacturing come back to LA. I think yeah

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I think it already is starting to do that on a on a small scale the fact that a cold card

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This is an LA but a fact that a cold card is made in Canada as opposed to China

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You know, maybe that maybe some of the electronics are Chinese components, but it's assembled in Canada

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it says made in Canada on the device and

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You know

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I'm just trying to imagine what that's gonna be like in the future

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They're gonna be things that are made in the USA that are these weird hardware devices that we use to interact with Bitcoin

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I think probably there will be

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NVK who makes the cold card actually posted about this to a degree. I believe some of their

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Hardware circuitry is made in China if I remember the the tweet

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Specifically but I could be wrong on that so NVK or anybody if you're watching please correct me on that but

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But yeah the the the issue regardless though is the with apologies to NVK

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Yeah

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I'll try and find out

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I was trying to read I couldn't I couldn't remember though

00:17:55.119 --> 00:17:58.800
Maybe his thing was saying that you know making in China is the problem

00:17:58.800 --> 00:18:01.119
but I think that the tweet though that was more specific was

00:18:03.119 --> 00:18:05.119
China does have the

00:18:05.119 --> 00:18:11.959
Largest in the same way. We have brain drain for like software engineers from India. They have the largest brain drain of

00:18:13.680 --> 00:18:15.920
Really high value high

00:18:18.599 --> 00:18:20.599
Like

00:18:20.880 --> 00:18:22.160
Insight and

00:18:22.199 --> 00:18:23.680
Understanding silicon manufacturing

00:18:23.680 --> 00:18:26.400
We just don't have that all that goes over

00:18:26.680 --> 00:18:30.719
To China because they have the plants because like to drop a silicone plant

00:18:30.719 --> 00:18:34.640
I believe is it's like a 15-year venture in 2 billion before you're even

00:18:35.199 --> 00:18:40.400
Like turning it on to make it work kind of thing and we have no incentive to do it right now

00:18:41.199 --> 00:18:46.439
Because you have cheap labor cheap manufacturing. The infrastructure is over there right now

00:18:46.800 --> 00:18:49.599
The incentive is gonna be you know

00:18:49.599 --> 00:18:56.920
If trade wars heat up turn into real wars and all of a sudden you can't get the silicon the value of bitcoins going

00:18:56.920 --> 00:18:58.680
Up people want to mine Bitcoin

00:18:58.680 --> 00:19:06.479
We're gonna have a massive incentive to make new bigger faster more energy efficient a six and have them in the United States as

00:19:06.719 --> 00:19:11.839
An actual race to mine Bitcoin starts to take place that gets really feverish

00:19:11.839 --> 00:19:15.079
I mean, they're already firing up nuclear power plants to run

00:19:15.760 --> 00:19:17.680
What are essentially data

00:19:17.680 --> 00:19:21.719
Facilities so that they can run HPC high-performance computing is what they call it

00:19:22.439 --> 00:19:26.400
AI as soon as it was financially viable. Yeah to underwrite an AI

00:19:27.280 --> 00:19:29.280
We figured out climate change

00:19:30.520 --> 00:19:32.520
Climate change not a problem anymore

00:19:32.880 --> 00:19:39.119
The climate changed it's better now. It's the densest form of energy we've ever discovered. Yeah, it was that one

00:19:39.719 --> 00:19:42.000
Wow, yeah, it's interesting. There's a lot of

00:19:42.400 --> 00:19:44.400
Yeah

00:19:44.400 --> 00:19:49.119
Just power and yeah all the things so in terms of LA

00:19:49.119 --> 00:19:51.839
I mean Corey and JD you guys were both

00:19:52.160 --> 00:19:58.760
Did an entire episode about the studio space in LA and how the Hollywood the entire industry of Hollywood is essentially

00:19:59.439 --> 00:20:01.439
bifurcating and turning into a

00:20:01.640 --> 00:20:03.640
distributed storytelling

00:20:03.880 --> 00:20:05.479
device

00:20:05.479 --> 00:20:07.479
internationally, right

00:20:07.800 --> 00:20:12.040
Historically that all of that industry took place in LA and

00:20:13.359 --> 00:20:17.459
historically to produce movies you needed

00:20:18.319 --> 00:20:20.160
unbelievable amounts of space

00:20:20.160 --> 00:20:21.319
right

00:20:21.319 --> 00:20:26.479
Warehouses on warehouses next to warehouses like so much of that space today

00:20:26.479 --> 00:20:31.160
I imagine and Corey you probably have better numbers on this than I do. I don't have any numbers

00:20:32.160 --> 00:20:36.859
So much that space largely goes unused because the productions are not shooting here in LA

00:20:38.239 --> 00:20:45.680
Consequently, that's true. And and you just just just drive through the city of industry. It is warehouse after warehouse. You can like pull up

00:20:46.479 --> 00:20:48.079
pull up a

00:20:48.079 --> 00:20:52.400
Google Maps and like look at the east side of LA it is

00:20:53.160 --> 00:21:00.079
Huge big box actually had an internship at a big-box real estate commercial real estate firm in college

00:21:00.079 --> 00:21:03.680
And we would just drive around and look at all these like massive

00:21:04.520 --> 00:21:05.760
warehouses

00:21:05.760 --> 00:21:07.760
most of that

00:21:08.560 --> 00:21:11.719
Back when I was in college was was utilized for

00:21:12.959 --> 00:21:18.920
Distribution it was you unload your trucks you or you unload your your shipping containers

00:21:19.040 --> 00:21:24.000
It sits in the warehouse and then it's shipped to the rest of the country because LA is the biggest port on the west coast

00:21:24.520 --> 00:21:26.040
now

00:21:26.040 --> 00:21:28.040
what does that look like in terms of

00:21:29.040 --> 00:21:36.359
Retooling the economy, right like half. Oh, well, LA has this incredible already connected infrastructure

00:21:36.880 --> 00:21:38.599
Does it have the?

00:21:38.599 --> 00:21:40.599
whatever 10 mile

00:21:40.599 --> 00:21:46.199
Square my 10 10 square mile manufacturing things that China has no

00:21:47.280 --> 00:21:51.920
but we have all this infrastructure that's already there ready to go and

00:21:52.640 --> 00:21:55.479
It's it's really fascinating to think like well jeez if

00:21:56.359 --> 00:22:03.599
You you start switching the levers of the incentives in the the political landscape and like all of this stuff can come back

00:22:04.079 --> 00:22:09.439
Pretty quickly. I mean, there's a whole ramp up of difficulty with bringing

00:22:10.839 --> 00:22:16.560
Manufacturing online, but the space is there the infrastructure is there at least there is enough

00:22:17.000 --> 00:22:22.280
Yeah, enough enough infrastructure and enough like way to get it's like to okay cool

00:22:22.280 --> 00:22:26.560
We got our foot in the door. Now we can get to the next level right proof of concept. Yeah

00:22:27.719 --> 00:22:31.719
For sure. I still think the space is so much more expensive even than going

00:22:32.439 --> 00:22:38.000
To like the desert Nevada or like outside of Phoenix right within a drive

00:22:38.000 --> 00:22:40.040
You can get to so much empty land where you could

00:22:40.920 --> 00:22:45.319
I think the space isn't the issue. I think I think it's not coming back to LA

00:22:46.079 --> 00:22:51.280
Manufacturing at all all due respect to the trade war because when China becomes non-viable

00:22:51.280 --> 00:22:55.479
There are the a hundred other countries that want to do it and they can still do it a tenth of the cost

00:22:55.560 --> 00:23:00.920
Because our labor costs are too high and I don't know how we're getting around our labor costs being too high

00:23:01.920 --> 00:23:05.479
It's it's I don't know how you put the toothpaste back in that in that tube

00:23:07.119 --> 00:23:08.239
But

00:23:08.239 --> 00:23:14.280
Yeah, that to me. I just need a deflationary currency. Yeah, we've got that taken care of but could do that

00:23:14.719 --> 00:23:19.359
Yeah, that that was actually one of the biggest things that orange filled me from BTC pins

00:23:20.479 --> 00:23:26.280
talking with with him down at his meetup when I first became a bit corner and and he kind of explained to me the

00:23:27.119 --> 00:23:29.119
the deflation of of

00:23:31.040 --> 00:23:36.280
Job titles and so what he means by that is, you know, if you're a really damn good writer

00:23:36.280 --> 00:23:41.239
It doesn't matter where you are. You're gonna be able to write and you're gonna get paid the same as somebody else

00:23:42.199 --> 00:23:43.479
Regardless of where you are in the world

00:23:43.479 --> 00:23:47.160
Then AI is gonna make that even more true because at the end of the day and this kind of goes to what you were

00:23:47.160 --> 00:23:49.160
Talking about in the in the last pod

00:23:50.160 --> 00:23:56.160
Anton where it's like you can put your books from your taxes into this AI and it'll tell you exactly how much money that you

00:23:56.160 --> 00:24:01.439
Oh, so you're not gonna need to go to a person you can literally just use this AI and so then what you're gonna actually

00:24:01.439 --> 00:24:07.079
Be paying for is it's like the job costs, you know, I'm gonna use Bitcoin at a million

00:24:07.079 --> 00:24:11.680
So if the job costs a thousand sats a day, whatever it is

00:24:12.199 --> 00:24:14.199
Or a thousand sats an hour

00:24:14.479 --> 00:24:18.439
But what you'll pay extra for is or what? I want somebody closer to me

00:24:18.439 --> 00:24:24.000
okay, so like the premium on somebody closer to me is like 250 sats or whatever it is an hour and then the premium on

00:24:24.560 --> 00:24:29.479
Corey's take on it is gonna be another 300. So like I might pay like the standard for

00:24:30.319 --> 00:24:33.839
Chipset manufacturing person a is a thousand

00:24:33.839 --> 00:24:38.119
But if I want them closer to me, I'll play a premium for that if I want Corey's specific take

00:24:38.119 --> 00:24:40.500
I'll pay a little bit of a premium on that and so it's like everybody kind of knows

00:24:41.119 --> 00:24:43.119
What the what the rates are?

00:24:44.119 --> 00:24:48.400
Globally because everything is just settling on chair, you know on L twos or whatever

00:24:50.000 --> 00:24:52.000
But the the the

00:24:52.560 --> 00:24:56.099
Skillset is what you pay for and then like the bonuses of like, okay

00:24:56.099 --> 00:25:00.459
How close to are like how close to me? Are you how close to manufacturing? Are you that that that that I?

00:25:01.699 --> 00:25:03.260
remember

00:25:03.260 --> 00:25:05.260
Back in the early 2000s. There was this

00:25:05.780 --> 00:25:10.219
director, he's like a commercial director and he lived in the suburbs in North, Texas and

00:25:11.739 --> 00:25:15.140
Everybody was like he's not he's not legitimate. He lives in the suburbs and

00:25:15.819 --> 00:25:18.459
You had to live in downtown Dallas to be

00:25:19.180 --> 00:25:25.420
Legitimate in the commercial industry now if you have an Instagram and it looks really good

00:25:25.780 --> 00:25:33.140
You're legitimate and nobody gives a crap where you live and you get paid the same amount and I'm witnessing this in my own industry

00:25:33.140 --> 00:25:40.540
I'm a cinematographer by trade and I know there's a guy who lives in Iowa who is really in demand

00:25:40.579 --> 00:25:43.739
He just loves Iowa. It's where he was born and raised. That's where he lives

00:25:43.979 --> 00:25:48.459
He gets paid more than I do for doing work. He just flies wherever he's gonna go

00:25:48.459 --> 00:25:55.300
And so yeah, it is a little less important when it comes to job titles where you physically are anymore

00:25:56.420 --> 00:26:03.660
not only because things are so online but also just because the ease of travel is you can just go anywhere I

00:26:04.180 --> 00:26:10.739
Yesterday I had a job in Phoenix. I literally flew from LAX to Phoenix and back same day

00:26:10.739 --> 00:26:13.420
I commuted to Phoenix for the job. There was no problem

00:26:13.939 --> 00:26:15.939
in terms of in terms of

00:26:16.020 --> 00:26:22.979
Manufacturing this really gets interesting because of 3d printing how much is it necessary?

00:26:23.739 --> 00:26:28.819
To do that. Oh, I got a manufacturer this part this teeny little plastic piece

00:26:29.900 --> 00:26:36.260
In Chile, and I got to ship it to China to be assembled and it's got to go through here and there and it's like

00:26:36.260 --> 00:26:42.260
why don't we just print the print the piece with and you know, not just like silly plastic parts, but like

00:26:42.780 --> 00:26:44.060
the

00:26:44.060 --> 00:26:46.939
legitimate hardcore 3d printed metal

00:26:48.260 --> 00:26:51.180
like pieces that you like really

00:26:52.180 --> 00:26:53.819
Specified

00:26:53.819 --> 00:26:56.859
High grade stuff that you can. Oh, yeah

00:26:56.859 --> 00:26:57.020
well

00:26:57.020 --> 00:27:02.859
we just bought the the printer and that as as people realize you can do this the cost of the printers come down and like

00:27:02.859 --> 00:27:04.219
the whole thing

00:27:04.219 --> 00:27:07.819
Wait a second. We don't like what kind of scale are we looking at here?

00:27:07.819 --> 00:27:14.900
And then all of that again to Zack's point on the the pod you guys did

00:27:14.900 --> 00:27:21.699
Bro, it's all being distributed. All of it is decentralized now, right all the manufacturing like

00:27:22.260 --> 00:27:28.420
90% of 94% of manufacturing takes place in China 99% of the chip manufacturing. There's gonna be

00:27:30.060 --> 00:27:32.060
Some other place where it makes more sense

00:27:32.060 --> 00:27:36.979
and then there's gonna be another place or it makes more sense and as the as we push the limits of you know,

00:27:36.979 --> 00:27:43.219
How close we can go to the physical the physical limits of reality as we get closer to those?

00:27:43.339 --> 00:27:49.420
As we get closer to those well, then the economies of scale are gonna say like well, you know

00:27:50.219 --> 00:27:54.540
Any anybody who wants to manufacture a six they can just do that

00:27:55.060 --> 00:27:58.819
Right now we're at the stage where it's like anybody who wants to run a miner in their home

00:27:58.819 --> 00:28:02.140
They can just do that which is cool. But like you you start to

00:28:03.260 --> 00:28:08.979
Unravel this a little bit further and push a little bit harder on the same logic. It's anybody who wants to have a

00:28:09.939 --> 00:28:13.979
basic manufacturer and their home can do that, you know, that's

00:28:14.859 --> 00:28:22.300
Decades away probably but it's still like that's that's the direction we're headed. It's crazy to think about that. Yeah

00:28:22.900 --> 00:28:29.660
Tesla has done that to some degree. So Tesla gets talked about as being the largest manufacturer of

00:28:30.180 --> 00:28:33.699
US made cars with US manufactured parts

00:28:33.699 --> 00:28:39.380
But Tesla also has a factory in China where they make cars that are made in China

00:28:39.380 --> 00:28:43.500
But the cars look the same if you take a Model Y in China and a Model Y in the United States

00:28:43.500 --> 00:28:46.300
They look the same one is made in China one is made in the u.s

00:28:46.300 --> 00:28:51.859
And it makes sense because they have a robotic arm that is programmed to make the car

00:28:51.859 --> 00:28:55.420
You just put the raw materials into you know at some point

00:28:55.420 --> 00:28:59.300
this is not exactly how it's done now, but at some point you just put the raw materials in a

00:28:59.939 --> 00:29:05.140
Computer program and a robotic arm just assembles the thing and you can have multiple

00:29:05.979 --> 00:29:12.579
Assembly plants in multiple places all over the world making the same stuff you hit on one unique thing there Anton to on the

00:29:14.699 --> 00:29:16.699
Raw material

00:29:16.859 --> 00:29:20.420
Transformation into the thing because Tesla is actually doing that exact thing

00:29:20.420 --> 00:29:26.060
I've heard Elon and a couple other people talk on that is the the other issue is the raw material

00:29:27.060 --> 00:29:35.140
Manufacturing process where it's like actually making the silicone that you need to actually like the silicone wafers and menu and

00:29:35.660 --> 00:29:39.699
Manufacturing those into like creation and existence type thing

00:29:40.260 --> 00:29:43.619
That I think is also another thing that's like regardless of who can actually make

00:29:43.780 --> 00:29:47.020
Like do the printing on the chips because it's like once you make the chip

00:29:47.020 --> 00:29:49.579
Then you have to like do all the laser etching and everything on the actual

00:29:50.260 --> 00:29:52.540
Wafer, but it's like turning the raw

00:29:53.420 --> 00:29:57.380
Silica and everything else like that into the actual wafers is also another

00:29:58.420 --> 00:30:00.140
completely

00:30:00.140 --> 00:30:01.300
centralized

00:30:01.300 --> 00:30:08.660
Thing that Tesla's doing a good job of starting to you know distribute and and and make I think also some chips are many to manifest

00:30:08.660 --> 00:30:10.579
in Mexico

00:30:10.579 --> 00:30:14.739
But yeah, it's it's it's I agree with you Corey that there's gonna be

00:30:15.459 --> 00:30:20.099
It's gonna be hard-pressed to get that stuff here, but I'm gonna certainly possible

00:30:20.099 --> 00:30:24.180
I just think that we had like the wave of globalization basically since the 90s

00:30:24.819 --> 00:30:25.780
was

00:30:25.780 --> 00:30:31.579
multinational companies dodging taxes and finding the cheapest place to to make their goods and all of that works when

00:30:32.180 --> 00:30:37.979
America's the most powerful we spend half of the half of the half of the naval spending in the world is American and

00:30:38.819 --> 00:30:43.099
that's not by coincidence, that's because our shipping lines are perfect and they're protected and

00:30:44.180 --> 00:30:49.260
there's absolutely no difference to an American multinational company whether something is is

00:30:50.060 --> 00:30:53.380
It's fabricated in Cambodia or Vietnam or China or

00:30:54.219 --> 00:30:58.140
The the middle you know the middle of the country middle of America

00:30:58.140 --> 00:31:01.500
And that's been true like those assumptions have been true for all this time

00:31:01.500 --> 00:31:05.540
And it feels like those assumptions are starting to unwind and we're saying it's not possible

00:31:05.540 --> 00:31:12.140
It can't happen, but it's just not as financially viable as if the world was as peaceful as it was in 1992

00:31:12.900 --> 00:31:16.540
Which basically just moves the supply-demand curve a little bit?

00:31:17.540 --> 00:31:21.619
And probably makes goods generally quite a bit more expensive

00:31:21.619 --> 00:31:25.219
I'm curious on your take on this Cory because I think you might know more about it

00:31:25.219 --> 00:31:27.540
but can you unpack a little bit about the

00:31:28.420 --> 00:31:32.060
like rise and fall of Japan during the 90s and kind of like

00:31:33.459 --> 00:31:36.579
You know because I'm curious like I'm on a Japanese camera right now

00:31:36.579 --> 00:31:38.660
I think most of you guys are in Japanese cameras right now

00:31:38.660 --> 00:31:39.699
It's like they have

00:31:39.699 --> 00:31:43.219
Really good optics like they still have that thing that they own like optics

00:31:43.459 --> 00:31:48.339
Anywhere in the world if you're gonna get lenses or whatever you might have Leica which was I think German

00:31:48.500 --> 00:31:54.140
Like for the most part you're using like you know Canon Nikon Sony all these are you know?

00:31:54.739 --> 00:31:58.780
Japanese optics to a degree or Korea, but like what what what kind of happened there?

00:32:01.060 --> 00:32:02.979
Yeah, what kind of happened there, can you kind of yeah?

00:32:02.979 --> 00:32:08.699
I'm not I'm definitely not a scholar on this my dad taught a lot of this. He's a he's a supply chain

00:32:09.619 --> 00:32:13.739
Like business school professor about supply chains and ops management and inventory management and all that

00:32:14.819 --> 00:32:20.099
But I mean Japan just dominated innovation there aren't that many countries in the world where innovation is really protected

00:32:20.099 --> 00:32:25.780
And you you know you we talked about most of the countries in the world being capitalist, but in most of the countries

00:32:26.380 --> 00:32:31.300
If you start a company and successful the government can just take it from you. That's true in China

00:32:31.339 --> 00:32:38.099
So the best Chinese entrepreneurs come to America the best entrepreneurs anywhere come to America. It's basically for the past 50 years

00:32:39.060 --> 00:32:43.180
You know Brazil's okay, Japan's very good. Germany is very good

00:32:43.939 --> 00:32:48.859
America's very good in terms of actually protecting IP so places that really fostered innovation

00:32:48.859 --> 00:32:49.939
There's only a handful of places

00:32:49.939 --> 00:32:55.660
And they pulled you know America mostly pulled the entrepreneurs from around the world because they want to capitalize on their own value

00:32:56.619 --> 00:33:00.500
Japan did that really well. I think the way that they've tapered off is genuinely just

00:33:01.060 --> 00:33:08.020
Massive massive population issue they have an incredibly aging population. They didn't value children at all they didn't value family at all

00:33:08.540 --> 00:33:13.060
And there's this mix of this new world old world. That's led to this population bomb

00:33:13.060 --> 00:33:20.540
That's blown up and is an enormous issue for them that that to me genuinely is by far their biggest issue not a

00:33:20.780 --> 00:33:25.140
Lack of interest in innovation or a lack of interest in being a part of the world economy. They just didn't

00:33:25.660 --> 00:33:31.020
They just didn't have kids. It's pretty straightforward. They should have been a power player of the past 10 years

00:33:32.020 --> 00:33:36.979
Well longer than that the power player of the last like 90s 2000s

00:33:36.979 --> 00:33:43.020
I forget when when was the the book made like there's a famous book on this called Japan on top

00:33:43.819 --> 00:33:48.900
and if somebody wants to like fat check me on when Japan on top was released, but

00:33:49.619 --> 00:33:57.119
It basically marked the top the thesis of the book was like Japan's manufacturing their culture

00:33:57.239 --> 00:34:04.439
Their innovation they're like every single thing basically says that Japan is going to be the leader going into the future and

00:34:04.719 --> 00:34:06.719
when that book was published

00:34:06.959 --> 00:34:08.959
that marked the top of

00:34:09.399 --> 00:34:15.239
Japan that's a real Jim Kramer call. Can you imagine being a Japanese inventor at the time like come on?

00:34:15.840 --> 00:34:23.679
Yeah, so I mean the the results of that like from that point like that was the height of the

00:34:24.000 --> 00:34:29.159
Unless my history is incorrect, but that was the height of the the Nike

00:34:30.719 --> 00:34:34.040
How we pronounce it like their stock market, which

00:34:37.560 --> 00:34:42.239
That was the height of their stock market peaked and it didn't

00:34:42.840 --> 00:34:48.439
Return to those peaks until like the last month. I think yeah, right. It was over 30 years

00:34:49.439 --> 00:34:51.439
It's been such a

00:34:51.439 --> 00:34:57.760
Long it's been a long slow to unbelievable long road. Yeah, not the last 10 years the last 30 years like it's just yeah

00:34:57.760 --> 00:34:59.760
No, it's really true. I just

00:35:00.320 --> 00:35:07.659
Just crazy. Yeah, it's been it within my adult life that they've been a relevant player in tech and hardware and yeah and innovation

00:35:08.120 --> 00:35:13.959
But in you know decreasingly so and I didn't actually realize when when that Japanese carry trade

00:35:15.159 --> 00:35:19.760
Blew up. I didn't realize how much foreign investment was propping up their currency. That was incredible

00:35:20.280 --> 00:35:22.760
I didn't realize the volume behind that trade

00:35:23.800 --> 00:35:27.800
But it's pretty savvy move by them for a long time, you know

00:35:28.000 --> 00:35:32.719
Yep, get an enormous amount of you know for an investment by basically just giving it away for free

00:35:33.399 --> 00:35:35.479
Anton can you can you unpack?

00:35:36.600 --> 00:35:38.600
You're really close to this

00:35:40.399 --> 00:35:46.439
Like the cultural context and what what you know, cuz again going back to hardware manufacturing in like Japan with you know

00:35:46.439 --> 00:35:49.639
the lack of care for families, but can you unpack the

00:35:50.320 --> 00:35:56.120
Like the cultural context because I think you've you know, you have successfully tapped into cultural like ice twice

00:35:57.479 --> 00:36:02.280
Like how do you how do you see us pulling out of this tailspin? Can we?

00:36:04.360 --> 00:36:07.280
Well, yeah the way that I see us pulling out of the

00:36:08.040 --> 00:36:13.520
cultural tailspin is essentially things get they're probably gonna have to get worse and

00:36:14.439 --> 00:36:20.919
There's gonna have to be some sort of collapse and at the exact same time the time is not gonna be perfect but

00:36:21.760 --> 00:36:23.760
there's gonna be a point where

00:36:24.239 --> 00:36:30.520
Bitcoin essentially decouples becomes incredibly valuable and then the people like us frankly

00:36:30.639 --> 00:36:35.040
who are Bitcoin errs are going to have a lot of

00:36:35.919 --> 00:36:38.719
For lack of a better word. It's gonna be a lot of power

00:36:39.600 --> 00:36:41.439
to

00:36:41.439 --> 00:36:47.560
Deploy the capital we have to do the things that we want to do at the same time as that's happening

00:36:47.800 --> 00:36:51.199
even people who haven't been Bitcoin errs are going to

00:36:51.840 --> 00:36:57.399
They're essentially gonna buy Bitcoin. They're going to see the value of their own money growing

00:36:57.679 --> 00:37:04.360
It's gonna slow down their spending a little bit because they're not gonna want to spend money that is growing value

00:37:04.439 --> 00:37:06.679
Essentially, they're gonna be investing in Bitcoin as well

00:37:07.679 --> 00:37:09.280
How we get there, I don't know

00:37:09.280 --> 00:37:13.439
I don't see things going in a positive positive direction for a long time

00:37:13.439 --> 00:37:18.959
Like Wanderer was I think it's Wanderer was asking if manufacturing is gonna come back to LA or maybe it was you JD

00:37:20.120 --> 00:37:24.199
Things are so bad from a regulatory standpoint here

00:37:24.639 --> 00:37:31.719
There are so many laws on the books that make it so hard to do any kind of business here that the

00:37:32.239 --> 00:37:40.000
Taxation the fees you're essentially punished for succeeding here and it just drives out anybody who's doing innovation punish for even

00:37:40.320 --> 00:37:43.679
Participating here whether or not you succeed you're punished for participating

00:37:43.679 --> 00:37:49.719
Yeah, if you obey the laws here you get punished for it. If you completely break the laws

00:37:49.919 --> 00:37:53.800
It's a free-for-all you can do whatever you want. But if you know business at all

00:37:54.479 --> 00:38:00.159
Being ethical is the way that you succeed in business being wildly unethical

00:38:00.159 --> 00:38:06.360
Let's say you're a drug dealer or you're mafia or whatever. There are consequences for not doing things ethically

00:38:06.600 --> 00:38:11.840
but if the environment is so punishing from a regulatory standpoint and

00:38:12.320 --> 00:38:17.560
Essentially people vote for this stuff. It makes it that makes the cost of living too expensive

00:38:17.560 --> 00:38:20.280
It makes the cost of doing business to it expensive

00:38:20.280 --> 00:38:24.879
And so even though we have all of this infrastructure here in a place like, California

00:38:24.879 --> 00:38:28.159
Which is like the Shangri-La of the world. This should be the best place ever

00:38:28.439 --> 00:38:30.679
It's hard to do any kind of business here

00:38:30.679 --> 00:38:34.800
so that stuff has to massively fail to a degree to where the

00:38:35.000 --> 00:38:40.080
Mentalities of the type of people that come here have to then want to change

00:38:40.439 --> 00:38:47.719
The systems and those systems don't just change overnight. They take a long time. And so I don't know how all that shakes out

00:38:48.479 --> 00:38:49.959
Yeah, good

00:38:49.959 --> 00:38:53.040
Here's an interesting take on it. This is just a new thought so

00:38:53.560 --> 00:38:55.560
Shoot shoot down if there's nothing there

00:38:56.159 --> 00:38:58.159
But there's a theory

00:38:58.560 --> 00:39:01.959
You guys have you have to have heard of this theory if you haven't I'll explain it

00:39:01.959 --> 00:39:08.800
But if you haven't here tell me if you haven't which is the nothing ever happens theory. Have you heard of this?

00:39:10.800 --> 00:39:11.840
Okay

00:39:11.840 --> 00:39:16.199
So the nothing ever happens theory and you go look it up because I'm gonna butcher it right now

00:39:16.199 --> 00:39:20.520
But it's this idea that like nothing ever happens. Oh, well, there's this emergency

00:39:20.679 --> 00:39:22.080
But then there's

00:39:22.080 --> 00:39:29.479
administrators that are that exists to handle the emergency and so the emergency is handled and the results of the emergency is that

00:39:29.800 --> 00:39:33.000
Well, nothing really ever happens because it was all just taken care of

00:39:33.639 --> 00:39:38.520
so and it applies in this these really weird ways and you can you apply like I

00:39:40.199 --> 00:39:45.040
First had this thought like in Trump's first term of president when they're basically something like

00:39:45.840 --> 00:39:47.840
The mainstream media is essentially saying

00:39:48.239 --> 00:39:55.199
We're gonna enter World War three because Iran is gonna send some nukes over here. We're sending nukes to Iran

00:39:55.199 --> 00:40:00.399
This is happening this week. This is like this is like a month before kovat something like that, right?

00:40:01.439 --> 00:40:04.919
but then the administrators got involved and I realized well, this isn't

00:40:07.360 --> 00:40:12.600
Nothing really happened nothing there was no World War three now some things do happen obviously with kovat

00:40:12.919 --> 00:40:18.840
But to bring it bring it home to the point that Anton's making or not to the point that Anton's making but to

00:40:19.840 --> 00:40:21.919
To have a further thought about it

00:40:23.080 --> 00:40:26.000
the state of the world as it is right now is

00:40:26.919 --> 00:40:29.719
The is the nothing ever happens world, right?

00:40:30.679 --> 00:40:35.199
When people say things are gonna get a lot worse. Well, maybe they get a lot worse, but

00:40:35.840 --> 00:40:40.600
There's all these like we have this insane administration state that basically just

00:40:41.120 --> 00:40:44.840
Quote-unquote manages all of these things like oh, it's gonna get so much worse

00:40:44.840 --> 00:40:50.840
But then there's like a thousand people employed to handle that particular problem. It's this weird

00:40:51.639 --> 00:40:56.479
Unbelievable weird fiat world dynamic, right? So nothing. It's always a little bit worse

00:40:57.719 --> 00:41:02.840
But it's never catastrophic. It's like the riots. Oh, there's so many riots, but

00:41:03.760 --> 00:41:08.679
Wow, we have all of the riot gear already. It's like these weird dynamics of

00:41:09.320 --> 00:41:11.320
but this is not really a

00:41:12.320 --> 00:41:16.540
Problem. I mean, you know again real real disasters really happen

00:41:16.540 --> 00:41:17.439
which is

00:41:17.439 --> 00:41:22.479
the fires here in LA burned down a whole bunch of people and burned down a whole bunch of buildings and a whole bunch of

00:41:22.479 --> 00:41:24.800
People lost their entire existence, right?

00:41:25.280 --> 00:41:29.560
But like what's changing from that like literally nothing is changing

00:41:30.239 --> 00:41:36.139
The entire administration state has completely just dug in their heels more like oh, well

00:41:37.159 --> 00:41:40.159
We got all the men. We got all the consulting firms working on

00:41:41.000 --> 00:41:45.239
Making bringing people there the permits so they can rebuild their homes

00:41:45.239 --> 00:41:51.879
But like what is it the Palisades have approved permits for like less than 10 homes or something. It's like

00:41:52.639 --> 00:41:54.639
No more than I thought

00:41:55.239 --> 00:42:03.199
It's just it's like none of like none of this is is none of these problems are like

00:42:04.360 --> 00:42:06.479
none of the the disasters actually

00:42:08.439 --> 00:42:11.520
Result in anything changing. I think that's what I'm trying to get at

00:42:11.520 --> 00:42:15.280
So when people say things are getting a lot like it's got to get a lot worse

00:42:16.159 --> 00:42:21.360
I'm sitting here. I mean like well, it's never gonna get a lot worse. It's always gonna get a little bit worse

00:42:21.360 --> 00:42:25.120
It's never it never goes all the way, but it always gets a little bit worse, right?

00:42:25.120 --> 00:42:27.120
But that's just the incentives of Fiat

00:42:28.879 --> 00:42:33.879
Some I don't know just throwing that out there curious about your like your thoughts because it ties back into

00:42:34.360 --> 00:42:39.280
Anton what you're saying like yeah things got to get a lot worse for people to wake up and I'm just sitting there thinking

00:42:39.879 --> 00:42:46.439
No, no things never get that much worse. It's like yeah some people's lives like bad things happen, but

00:42:47.600 --> 00:42:49.600
at a large scale the last

00:42:50.159 --> 00:42:57.199
Worst thing to happen in the last 20 years is basically two things or maybe three things which is 9-11

00:42:58.080 --> 00:43:00.080
30 years

00:43:00.120 --> 00:43:01.600
Kovat

00:43:01.600 --> 00:43:03.000
BLM

00:43:03.000 --> 00:43:10.000
GFC for things right and and what are the what are the results of that how much of your lives have changed because of those things

00:43:10.719 --> 00:43:14.439
To me it feels like I'm kind of living in this weird

00:43:17.000 --> 00:43:19.000
Twilight zone where it's just kind of goes on

00:43:19.600 --> 00:43:23.639
It's like it just kind of goes on. There's the ongoing joke. Yeah, we're still in March of

00:43:25.040 --> 00:43:27.040
2020 that's groundhog nothing is

00:43:28.760 --> 00:43:32.760
Nothing has changed since the shutdown. It's just the same thing over and over again

00:43:33.919 --> 00:43:37.320
Anyway, the point the point here. Yeah, the point here is that like I

00:43:38.600 --> 00:43:42.959
Don't necessarily think think things need to get a lot worse for people to change

00:43:42.959 --> 00:43:48.159
I think it's I think it's actually just an intellectual switch. I think it's it's wait a second

00:43:48.159 --> 00:43:54.560
We just push on Bitcoin more. We explain Bitcoin more. We get out. We should like take the time to like really try and

00:43:55.199 --> 00:44:02.719
Change people's minds intellectually about this stuff go through the logic and see that see that this the logic is sound

00:44:03.719 --> 00:44:10.320
Do you agree or disagree with the logic and and go from there? I don't think it necessarily that it's this

00:44:10.800 --> 00:44:14.919
Like catastrophic end times kind of thing. Anyway, okay all done

00:44:15.919 --> 00:44:17.919
Can I just say one thing on that and

00:44:18.800 --> 00:44:26.360
It's very positive. It's a very optimistic way of looking at things and that's good optimism is it's important to

00:44:26.760 --> 00:44:31.520
Feel optimistic so that you continue and you take steps forward in your life

00:44:32.239 --> 00:44:39.639
One thing that's also optimistic is you can say well one thing that hasn't changed is Bitcoin hasn't changed for the last 10 years

00:44:40.639 --> 00:44:42.879
it's just continued running and

00:44:43.879 --> 00:44:50.639
Nothing ever changes and one day to the next like there's not that big of dramatic changes and even for us as big winners and

00:44:50.639 --> 00:44:56.239
Yet, if you look at the price of Bitcoin 10 years ago compared to today, it's gone

00:44:57.000 --> 00:45:03.159
Essentially a hundred X. So nothing has changed and yet over 10 years if you have been

00:45:03.840 --> 00:45:05.320
investing into

00:45:05.320 --> 00:45:07.239
studying Bitcoin

00:45:07.239 --> 00:45:11.679
Investing your actual money into Bitcoin the money that you've been invested

00:45:11.679 --> 00:45:14.439
I mean wouldn't have 100 X unless you put all of it in 10 years ago

00:45:14.439 --> 00:45:19.439
But if you've been dollar cost averaging you've been seeing your purchasing power

00:45:20.320 --> 00:45:25.040
Increasing during that entire time. Whereas if you were saving dollars, you've seen your purchasing power

00:45:25.639 --> 00:45:28.280
Decreasing that entire time so nothing ever changes

00:45:28.479 --> 00:45:34.479
But at the same time you get to choose at this point what does change for you over? Yeah, exactly. Yep. Mm-hmm

00:45:35.479 --> 00:45:37.959
Nothing ever changes for everybody all at once

00:45:38.919 --> 00:45:44.120
But things you get to in the whole social media like I live in a silo

00:45:44.120 --> 00:45:49.520
I can just choose who what all of my inputs are and nobody else has the same inputs all of your stuff

00:45:49.639 --> 00:45:51.639
You get to essentially choose

00:45:51.840 --> 00:45:53.280
What?

00:45:53.280 --> 00:46:00.139
What things do you want? This is like a very like Christian concept to which is the idea like oh, well

00:46:00.419 --> 00:46:06.699
You know the CS Lewis version of hell well hell is just you just get what you finally want like that's what hell is because

00:46:07.540 --> 00:46:12.340
Bro, if you just if you just wanted the big house and that was the entire you'd lived your entire life

00:46:12.340 --> 00:46:17.379
And then you die and like that was your God your big house. Well, you get your big house and in hell great

00:46:18.260 --> 00:46:25.780
Have fun with your big house man for eternity and there's nothing else that you can get just the big house, right?

00:46:26.419 --> 00:46:27.699
it's

00:46:27.699 --> 00:46:30.419
It's interesting. I'm kind of just I was I'm using a

00:46:31.260 --> 00:46:37.580
Grock to look up some Bible verses. So if the Bible verses are wrong blame grocks, I'm I'm not quite checking a lot of

00:46:38.219 --> 00:46:40.219
theological inquiry to grok to

00:46:40.540 --> 00:46:44.699
But it's interesting the whole nothing ever changes theory is actually biblical to a degree

00:46:45.820 --> 00:46:47.820
Ecclesiastes 1 9. Oh, yeah

00:46:48.939 --> 00:46:50.219
literally

00:46:50.219 --> 00:46:56.459
What has been is what will be and what has been done is what will be done and there's nothing new under the Sun

00:46:56.860 --> 00:47:00.260
Is there a thing of which you know is said to see this is new

00:47:00.820 --> 00:47:07.280
It has already been in the ages before us. So literally that is it nothing ever changes is biblical in that sense

00:47:08.379 --> 00:47:10.580
It's interesting because that was actually one of the things that

00:47:12.020 --> 00:47:14.020
If you think about it

00:47:14.580 --> 00:47:17.020
You know you have an idea and this is you know

00:47:17.100 --> 00:47:22.659
La is so litigious and what's one of the first things I learned when I got here was just how litigious ie suing everybody it

00:47:22.659 --> 00:47:24.659
is

00:47:24.659 --> 00:47:28.739
And it's like the number of people like you stole my idea you stole my idea you did my thing you do whatever and

00:47:29.300 --> 00:47:33.620
It's just so interesting. It's like there are you know, seven billion people on the face of the planet

00:47:35.219 --> 00:47:41.739
Outside of the fact that your DNA and you occupying a specific space at a specific time

00:47:42.219 --> 00:47:44.219
Will be completely unique

00:47:44.580 --> 00:47:46.780
like that just will be but

00:47:47.699 --> 00:47:49.860
completely unique ideas I think are

00:47:50.500 --> 00:47:52.459
very very

00:47:52.459 --> 00:47:53.500
uncommon

00:47:53.500 --> 00:47:56.659
Bitcoin was one of those things and you everybody recognizes them when you see them, right?

00:47:56.860 --> 00:48:00.939
Because Bitcoin is an amalgamation of a lot of ideas, but like the execution is the thing

00:48:02.179 --> 00:48:06.179
People people recognize them as something new but also people absolutely

00:48:07.100 --> 00:48:08.739
reject like

00:48:08.739 --> 00:48:10.860
Full-heartedly get out of here, etc

00:48:10.860 --> 00:48:15.939
Like that's another sign that it's an actual new idea because people are like so well

00:48:15.939 --> 00:48:19.379
I mean heliocentric reverses geocentric in terms of like, you know

00:48:19.659 --> 00:48:21.659
Our

00:48:21.979 --> 00:48:26.540
Exactly. Yeah. Mm-hmm. Yeah solid so the point love that point

00:48:28.500 --> 00:48:30.500
Like AI is like that like

00:48:31.419 --> 00:48:33.419
You're good things that people are Luddites for

00:48:34.659 --> 00:48:38.100
JD we didn't hear anything. What do you just said? There's nothing important

00:48:40.139 --> 00:48:42.139
He's gonna sue us

00:48:43.620 --> 00:48:45.620
Yes

00:48:46.260 --> 00:48:50.899
Well, just you know, you're saying, you know how you know, you have something

00:48:51.419 --> 00:48:57.780
Really innovative as if some people accept it and some people hard reject it AI is one of those things there

00:48:57.780 --> 00:49:02.780
We're talking about just now using AI to essentially do theology research

00:49:02.780 --> 00:49:08.699
I mentioned this to somebody recently and he was he just thought that idea was important

00:49:09.139 --> 00:49:11.699
that and I was like what I used it for was

00:49:12.340 --> 00:49:18.979
There was a particular character in the Bible who was mentioned in all these different books and I was like you can have grok put

00:49:18.979 --> 00:49:22.979
All the verses chronologically for you so that you can just see him

00:49:22.979 --> 00:49:28.100
it's a nice study tool if you're interested in this character for me this character happened to be John the Baptist and

00:49:29.340 --> 00:49:31.500
He just didn't immediately didn't trust this

00:49:32.300 --> 00:49:37.780
And I was like, well, I mean you can check the work like the AI doesn't have any incentive to lie to you about this

00:49:37.780 --> 00:49:40.340
You're not you're not, you know asking the AI

00:49:40.860 --> 00:49:46.139
You know something that's gonna make you like reject your faith you're just doing this objective research and

00:49:47.379 --> 00:49:49.379
Yeah, I mean, that's just what I doesn't

00:49:50.580 --> 00:49:53.219
Yeah, this goes into actually one of the things I know

00:49:54.739 --> 00:49:56.739
Bondo and I've talked about

00:49:57.260 --> 00:50:00.459
at different periods of time where it's like the the

00:50:01.060 --> 00:50:04.459
The value of the work going into something like the garbage in garbage out

00:50:04.979 --> 00:50:10.179
concept of stuff and this goes into like a greater concept of like the future of work that he sees that would love to see

00:50:10.179 --> 00:50:14.580
which I'd love to talk about a different episode, but I'm not gonna open up your kind of worms, but it's just the

00:50:16.979 --> 00:50:22.139
You know, the the trust is gonna be the key trust is the currency of the future

00:50:22.820 --> 00:50:27.899
Period, you know right now. I'm working with some people and the you know, I'm like thinking like oh

00:50:27.899 --> 00:50:31.219
I don't have like a proper contract in place with this person yet

00:50:32.620 --> 00:50:37.060
And you know, sometimes that just happen even just in you know entertainment in general. It's just a

00:50:37.580 --> 00:50:43.820
Traditional thing is like hey, are you free Thursday to work? You don't know anything about these people. It's literally just cool

00:50:43.820 --> 00:50:48.060
Can you come be a gaffer or be a DP or be or whatever and then people show up and they do work for you

00:50:48.060 --> 00:50:49.979
and then you know

00:50:49.979 --> 00:50:53.459
They expect you to pay them and they want you to pay them and you should pay them

00:50:53.459 --> 00:50:57.739
but the the thing is it's like LA and entertainment are

00:50:58.260 --> 00:51:02.580
One of the few remaining completely handshake businesses in a lot of ways

00:51:03.580 --> 00:51:10.379
That I think actually will be the way of the future just like if you guys know the story of Sriracha, you know for until like

00:51:11.659 --> 00:51:13.219
2016

00:51:13.219 --> 00:51:16.500
Sriracha all of the chilies were grown by a farmer that

00:51:17.659 --> 00:51:21.060
Just had a handshake deal with the the guy who founded Sriracha

00:51:21.899 --> 00:51:25.139
Literally, that's it. He just was like, hey, man, you grow these chilies

00:51:25.139 --> 00:51:30.340
I'll pay you and the guys like cool and he just basically kept sending the chilies and the guy kept paying him and

00:51:30.500 --> 00:51:34.580
Kept going back and forth and that there's that's it. They're like, where's the contract? We don't have a contract

00:51:34.580 --> 00:51:39.060
it's just a handshake deal, so it's just wild, but I think that's gonna be actually the the future and

00:51:40.580 --> 00:51:42.179
Agree hard

00:51:42.179 --> 00:51:47.179
We've talked about well, first of all, please don't talk about food anymore or some of us are fasting for Good Friday

00:51:47.179 --> 00:51:49.179
We're very observant secondly

00:51:49.379 --> 00:51:51.379
We talked about the return to the trust economy

00:51:52.100 --> 00:51:59.739
Where the less that you can trust what's happening digitally the more you have to trust in the way that humans have always trusted

00:51:59.739 --> 00:52:04.060
which is the people that are right in front of them and the people that are right around them people that they know and

00:52:04.060 --> 00:52:08.459
have history with and we've substituted that trust for this digital presence and

00:52:09.020 --> 00:52:14.459
we gave it to things like news organizations and politicians and big churches and

00:52:15.179 --> 00:52:21.260
But there those are things we don't know at all and we just feel like we do and I think as as that digital

00:52:21.379 --> 00:52:23.939
Trust moves away the new trust economy

00:52:23.939 --> 00:52:27.459
We'll just return to what it was before and we'll look back on this as an odd little blip

00:52:27.699 --> 00:52:34.100
Where it was really easy to capture people with propaganda using this digital thing that for some reason we all had this implicit trust in

00:52:34.300 --> 00:52:38.459
and honestly, I think Bitcoin plays a huge role in that because

00:52:39.340 --> 00:52:44.219
Like you're I mean just at the extremely basic level. Oh

00:52:45.659 --> 00:52:49.780
If I am cussing my own Bitcoin and I have my own private key

00:52:50.739 --> 00:52:55.120
Hope holy. Holy shit. Do I I have my private key on my computer?

00:52:55.560 --> 00:53:02.040
But now I'm questioning whether or not I trust my computer at all, right and like it's

00:53:03.120 --> 00:53:10.320
Wow, right, but that's just my computer now. Let's talk about the web browser. That's on my computer. Do I trust that?

00:53:11.000 --> 00:53:15.239
Okay, cool. Let's talk about whether or not I trust the website that's on my web browser

00:53:15.239 --> 00:53:20.120
that's on my computer and you just like the whole thing going back to the very top of the conversation and

00:53:20.719 --> 00:53:22.719
All of this runs on

00:53:22.800 --> 00:53:29.320
a microchip do I trust that right looks like the hardware itself do I can I trust that and

00:53:29.679 --> 00:53:32.840
You really start to get anything like and Bitcoin basically

00:53:33.360 --> 00:53:41.439
Calls all of that out. It says well, maybe you can but like you probably shouldn't and then you just you just go down that rabbit

00:53:41.439 --> 00:53:46.080
Hole of like no, I don't trust that I don't trust that intercept and then all of a sudden Corey to your point

00:53:46.159 --> 00:53:51.239
The things that matter the most in everyone's life are the real-life in-person

00:53:52.000 --> 00:53:53.959
relationships they have the

00:53:53.959 --> 00:53:55.800
Handshake is

00:53:55.800 --> 00:54:02.959
Way more important than any legal document or DocuSign BS signature that you can ever create

00:54:03.399 --> 00:54:09.020
Your hands that you look at somebody in the eye and you shake their hand. That's the deal you're getting and if it's not then like

00:54:09.379 --> 00:54:11.379
Like

00:54:11.540 --> 00:54:15.820
I'm not interacting with this person ever again their reputation. They're dead to me like that kind. It's like

00:54:16.340 --> 00:54:18.260
We're it's a different

00:54:18.260 --> 00:54:25.179
Different playing field for all of civilization like and it's awesome because it's real. It's it's like the way God designed

00:54:26.060 --> 00:54:30.780
Humanity to interact with itself. Yeah, it's incredible. Yeah. Yeah

00:54:31.300 --> 00:54:37.659
Now I will say when that was more the norm xenophobia was also just the assumed interaction with the world

00:54:37.659 --> 00:54:43.500
Just the assumed interaction between cultures. Do you think we see a rise of that as we as we go back to that?

00:54:44.419 --> 00:54:46.100
um, I

00:54:46.100 --> 00:54:48.100
Think you have to define

00:54:48.699 --> 00:54:51.419
Xenophobia because I think we're gonna get into

00:54:53.340 --> 00:54:55.340
The

00:54:55.699 --> 00:54:57.699
Yeah, I think you'd have to define it

00:54:58.020 --> 00:54:59.860
It's probably a whole different podcast

00:54:59.860 --> 00:55:05.699
But it's an interesting thing right the the globalization did lead to peace among cultures in a way that we haven't really seen before

00:55:06.020 --> 00:55:10.179
Yeah, to get get rid of that do you think we know it's very

00:55:12.780 --> 00:55:18.179
Right now, yeah, yeah, it feels like we're getting back like babbles happening again essentially

00:55:18.899 --> 00:55:20.899
yeah, I

00:55:21.139 --> 00:55:23.139
Would love to talk about that on another episode

00:55:26.620 --> 00:55:30.540
You guys have any because we're kind of coming up on the hour, so what are the what are some last thoughts?

00:55:31.139 --> 00:55:35.300
I'll give my two seconds, which is we need to

00:55:35.739 --> 00:55:39.459
We need to start building our own stuff. That's it

00:55:39.459 --> 00:55:46.100
And so I think it's the most valuable and important thing we can do as a as a country and not just the United States

00:55:46.219 --> 00:55:48.820
Everybody, you know if you live in Germany, you should make your own chips

00:55:48.820 --> 00:55:53.179
If you live in France, you should make your own chips and this goes back to though the things you should be making

00:55:53.179 --> 00:55:57.020
Not just hardware. You should be making your own culture like you should

00:55:58.100 --> 00:56:03.020
Be requiring people to assimilate to your culture if you're in Italy you were Italian

00:56:03.020 --> 00:56:06.459
You know if you're in Ethiopia you become Ethiopian because the the

00:56:07.659 --> 00:56:12.939
We as humans are called to be in tribes. That doesn't mean you can't have people in right?

00:56:12.939 --> 00:56:18.659
You can't be a melting pot, but you are American period and so I think it's really really important actually to not

00:56:20.540 --> 00:56:27.280
You know ignore your differences you should actually celebrate them and you should move forward in them and I think that's the problem is you know

00:56:27.979 --> 00:56:29.979
Yeah, so

00:56:30.979 --> 00:56:36.139
Yeah real tangible things that you can feel are very very important for

00:56:36.739 --> 00:56:40.020
Years, we have had things go

00:56:40.860 --> 00:56:46.679
Streaming and now we're meeting to get even though we're all in the same city. We're meeting together virtually

00:56:46.939 --> 00:56:48.939
But hopefully one day in person

00:56:49.100 --> 00:56:55.340
Yeah, we should we should do one of these in person. So if you think about what we ate as children

00:56:55.739 --> 00:56:57.020
It was

00:56:57.020 --> 00:57:02.179
Absolute garbage and we didn't realize because there was this convenience all of a sudden we had packaged food

00:57:02.179 --> 00:57:09.979
We had cereals we didn't even notice when the grains were eating started becoming horrible filled with pesticides

00:57:09.979 --> 00:57:12.300
We didn't even notice when the coca-cola

00:57:12.300 --> 00:57:18.219
We were drinking started to have high fructose corn syrup or the potato chips that we're eating or the McDonald's french fries went from

00:57:18.379 --> 00:57:21.060
being made with beef tallow, it's being made with

00:57:21.739 --> 00:57:23.739
seed oils so

00:57:24.060 --> 00:57:30.860
Being able to make your own things applies to everything like we still live in a physical world and

00:57:31.139 --> 00:57:36.860
Somehow this thing this digital currency that I mean, it's not just the digital currency with this thing Bitcoin

00:57:36.860 --> 00:57:40.899
That's united us and got us all thinking on this same thing

00:57:41.659 --> 00:57:44.340
Even though it's digital has started making us

00:57:44.699 --> 00:57:50.540
Reconsider how we interact in the physical world and the importance of the actual physical things our actual physical

00:57:50.699 --> 00:57:53.540
Relationships that we have the things that we put in our bodies

00:57:54.500 --> 00:57:56.500
It's all interrelated somehow

00:57:58.500 --> 00:57:59.620
Yeah

00:57:59.620 --> 00:58:02.860
the one thing that comes to mind so there's a

00:58:03.379 --> 00:58:07.020
1970 novel by Larry Niven called ring world and

00:58:07.620 --> 00:58:09.260
Cory

00:58:09.260 --> 00:58:14.020
You got to read the whole series. I don't know if you've heard of this series. Have you okay?

00:58:14.500 --> 00:58:19.219
Go sit down there. There's the original ring worlds and then there's like the extended ring worlds

00:58:19.219 --> 00:58:23.500
You got to read the whole extended series. It's some of the best sci-fi that's out there

00:58:24.500 --> 00:58:29.379
Not without its faults ridiculous in some capacities, but there's one thing that I thought was interesting

00:58:30.179 --> 00:58:35.379
Larry Niven has a future for envisions a future for earth where earth is essentially this

00:58:36.179 --> 00:58:39.620
homogenous all cultures are 100% the same and

00:58:40.580 --> 00:58:44.620
you know, that's a it's a result of the technologies that they have and all that sort of stuff and

00:58:45.139 --> 00:58:53.219
Listen interacting and listen to you guys talk about this and like looking at Bitcoin. I'm like, bro. That's so off

00:58:54.179 --> 00:58:58.699
the thing that's gonna map the thing that's gonna like make humanity like

00:58:59.139 --> 00:59:04.540
Humanity is the uniqueness of every single culture and how we all dig into our own

00:59:05.179 --> 00:59:08.219
personal cultures and own local identities like

00:59:09.100 --> 00:59:13.820
Maybe we get teleportation where we can like literally travel across the world in a second

00:59:14.340 --> 00:59:16.659
you know, that'd be awesome great, but like

00:59:18.020 --> 00:59:22.179
Yeah, but that's not me. You know like that's yeah, it's great to go to Japan and

00:59:22.979 --> 00:59:24.979
interact with Japan and consume

00:59:25.699 --> 00:59:30.580
the incredible quality that that Japan is able to produce but like and

00:59:31.300 --> 00:59:35.699
Speaking of somebody who's lived in South Korea. It's like yeah, that's all amazing

00:59:36.780 --> 00:59:40.820
But like it's not me. It's not my culture. It's not my people. It's not and

00:59:41.659 --> 00:59:46.739
Maybe there's xenophobia in there. I don't I really don't think so cuz I like I love I love

00:59:47.540 --> 00:59:52.340
All the people like this is incredible, but like they're not my people, right?

00:59:52.979 --> 00:59:56.340
So, I don't know. I just I just look that look at that

00:59:56.340 --> 01:00:01.060
I'm like, no, no, like I'd always like rung false with me. Like this is not

01:00:01.780 --> 01:00:04.899
This is not the the beauty the depth of humanity

01:00:05.459 --> 01:00:07.459
That really is

01:00:07.500 --> 01:00:10.459
It immediately makes me think of the Tower of Babel which is

01:00:11.179 --> 01:00:14.939
Thought of as this prideful act of humans and there is pride in it

01:00:14.939 --> 01:00:21.459
But God doesn't frustrate it because they're gonna fail to be to act like God if he frustrates it because he says

01:00:22.060 --> 01:00:24.060
For them nothing will be impossible

01:00:24.459 --> 01:00:25.620
right

01:00:25.620 --> 01:00:30.179
They're gonna deliver the promise of earth without going forth and multiplying

01:00:30.179 --> 01:00:33.860
They're gonna ignore the first command and deliver what I want them to do

01:00:33.860 --> 01:00:40.739
But without actually becoming all of what humanity is supposed to be and it's an interesting thing with sci-fi

01:00:41.860 --> 01:00:46.659
Yes, Lewis does it in that hideous strength as well where there's there's a group of people who I now

01:00:47.219 --> 01:00:50.340
Think are extinctionists, but communist also works

01:00:51.540 --> 01:00:55.060
Who want the world to go back to a complete homogeneity, right?

01:00:55.060 --> 01:00:57.899
They want the world to be a world economic forum

01:01:03.580 --> 01:01:05.459
Exactly

01:01:05.459 --> 01:01:09.739
but then there you know, there's people on the other side who want humanity to grow in individuality and

01:01:10.979 --> 01:01:13.179
Connection across community and you know

01:01:13.780 --> 01:01:20.780
University right as you want those cultures to come together in a way that cherish that it cherishes each other and as Christians

01:01:20.780 --> 01:01:24.699
We say that that that every person reflects God differently

01:01:24.699 --> 01:01:29.860
So every human life has the opportunity to bring something to the world to the kingdom of God

01:01:30.540 --> 01:01:31.060
literally

01:01:31.060 --> 01:01:37.620
Every single life has something that no other life will ever have in terms of reflecting God because it lands on an individual fingerprint

01:01:38.219 --> 01:01:43.580
And that should be really encouraging and I would love it if our economy and our hardware

01:01:43.580 --> 01:01:45.899
This is such a cheap way to bring this back around

01:01:45.899 --> 01:01:53.739
But if story if story did that if culture did that if architecture did that if hardware did that right if the things that we bought

01:01:53.739 --> 01:02:00.860
And the way that we interacted with the world was also reflected the individuality and beauty of humanity

01:02:00.860 --> 01:02:03.500
That would be way better. So I you know

01:02:04.139 --> 01:02:08.939
Things are gonna get more expensive because we're not in 1992 globalized free trade

01:02:10.419 --> 01:02:11.899
But I think that was fake

01:02:11.899 --> 01:02:16.860
I think that was a Fiat driven fake fake piece fake like

01:02:17.300 --> 01:02:22.219
Similar to the euro like let's just make a policy that pretends that we're all friends with each other

01:02:22.419 --> 01:02:26.820
Is it a good policy? No, but it'll be nice. Won't that feel nice, right?

01:02:26.820 --> 01:02:31.500
And now they have this terrible currency that's lost most of its value since it was incepted. Yeah

01:02:31.979 --> 01:02:36.340
So the fake stuff dies the individual stuff

01:02:37.139 --> 01:02:40.540
You know the the stuff that's real that stuff that's actually driven by humans

01:02:40.939 --> 01:02:46.260
Yeah, we get back to artisanal aspects of things but we get back to real value and pride in your work

01:02:46.260 --> 01:02:49.179
You know and I say this is somebody who our air conditioner just died

01:02:49.620 --> 01:02:52.780
But we went back and looked at it in our air conditioners from 1994

01:02:52.780 --> 01:02:59.979
And so it's like 31 years on AC is wild actually and so because those are usually like 20-year units

01:03:00.060 --> 01:03:02.139
But it's one of those things like we're gonna get back to that

01:03:02.139 --> 01:03:05.459
We're gonna get to a place where it's like you have a 50-year refrigerator, right?

01:03:05.459 --> 01:03:09.300
It's gonna cost you three grand four grand five grand, you know, whatever it is

01:03:09.979 --> 01:03:12.939
But it's gonna last you a half a generation, you know

01:03:12.939 --> 01:03:19.300
You're gonna use the same fridge as your kids and their kids, you know, and it's gonna be and it's gonna be manufactured locally in your neighbor

01:03:22.899 --> 01:03:24.899
And then your other neighbors gonna make the chip

01:03:25.860 --> 01:03:28.659
And if it breaks you're gonna be able to fix it yourself. Yes

01:03:29.340 --> 01:03:30.780
Yeah

01:03:30.780 --> 01:03:32.060
so

01:03:32.060 --> 01:03:36.860
Cool, any other any other closing thoughts, but I'm stoked guys. Thanks for

01:03:39.300 --> 01:03:41.300
Good stuff interesting

01:03:43.020 --> 01:03:47.300
All right, who's gonna say it better by Bitcoin