The Mark Moss Show Nov 2, 2022

change the way you see things. I want to bring to you the latest breaking news and some interesting guests so you can hear some different viewpoints. And I want to run through some of the biggest news that I saw this week that really just highlights exactly what's going on out there. And it's uh, you know, it shouldn't be as a big surprise to anybody, especially if somebody who's listening to this show on a regular basis, and if you're not, I would encourage you to tune in

on a regular basis. You can check me out on YouTube. You can just search Market Disruptors to find these episodes live on YouTube. You can watch me listen to me there or on your favorite podcast player. Just search the Mark Moss Show. Um, but it shouldn't be a surprise that we are going through a rough economic cycle right now. Um, Facebook, Meta just produced their earnings this week. Their their stock is down seventy from its peak. Cryptocurrencies are down anywhere

from seventy off their peak. Most of the NASDAC, the text stocks are down. You know. UM, we're definitely in a bear market. We've had two quarters of negative GDP growth. The Biden administration doesn't want to call that a recession. Technically it is, but whatever. But the point that I want to make is that, UM, in the bear markets, which is what we are in right now, in the bear markets, is when it's time to build. That's when the real builders, That's when the real wealth is made.

At the bottom of the market, that's where the opportunities are. And we can see that, Um, that's exactly what's happening. As a matter of fact, there's this article that came out this week from Fidelity. Fidelity is one of the largest asset managers in the United States, and it says that per there's a survey that they did that the bear market didn't slow down institutional interest in bitcoin and crypto.

This is the fourth annual study they've done and has showed that seventy four percent of institutional investors UM still want to get into bitcoin and crypto in the future. Now, Like I said, this is one of the largest asset managers in the United States maybe and the world for that matter. And uh, they have a division called the

Fidelity Digital Assets Group, and they studied them. They said that more than half of those surveyed of the people they surveyed had already invested into digital assets during the first half of two and seventy four planned to invest in the future. UM. Now that's a pretty big deal. Now, that's included over one thousand institutional investors spread across the US, Europe,

and Asia. The responds included family offices, digital and traditional hedge funds, pensions, financial advisors, endowments, foundations, and high net worth individuals. So this isn't just like random run of the mill people off the street that have a Hunter Bucks. These are what we might typically call the smart money. UM I am, and I hate to break it to you, are we're considered the dumb money, but this we consider

the smart money. So the smart money in the US, Europe and Asia are saying they are going to continue to invest in they want to continue. Sevent of them planned to invest into these markets in the future, and so that's that's a big deal. It's a big deal a lot of times. A lot of people lately think that this entire sector bitcoin and crypto is dead, but it's not, not by a long shot. And we can see that these companies are not only being invested into,

but they're also building. There's a company this week, col Nder. They announced that they raised two almost two and a half million dollars to build a Lightning Native I said that with air quotes lightening Native financial products. Now what does that mean? Lightning Native. So one of the oldest and still maybe most pervasive arguments against the bitcoin is it's too slow and too expensive. Bitcoin can't scale, it's

too slow, it's too expensive. Now, I've heard that more than any other argument in the history of bitcoin UM and I don't understand how it's still being used today. UM. I tell people that that argument is the argument like things have changed, new developments have happened. I talked about it all the time, and that's what lightning is. And they're raising money to build more on lightning Native um products.

So what do I mean by that? Well, um, they raised close two point three million seed funding round and they're going to use the funds to expand its exchange business and add more Lightning Native financial tours to its existing product. What is Lightning Native? So technology scales in layers, so it works just like our financial system was built

on layers. Gold was the final was the base settlement layer, and in order to speed up gold transactions, because to go get my gold out of the ground and then send it to somebody across the country took a lot of time. So if I put the gold in a bank and they gave me a paper gold certificate, that's a an IOU A debt claim. That's layer two. Now it's much easier, faster, and cheaper to spend the paper than it is to move the base metal. Um technology

scales the same way. So we have a t c P I P as a protocol that transfers information, and then we built layers on top of it. So if we want email, then we create an S t M S t MP protocol S t MP protocol on top of that. If we want security for websites, we created HTTPS and we scale layers on top of it. And bitcoin is the same way. So bitcoin is a base settlement protocols base settlement layer and on top of it we have layer two's and now we have layer three

being built on top of that. And so lightning is a way that we can send bitcoin faster and more cheaper than any other cryptocurrency is out there. So that's what they're talking about with lightning. Lightning Native. Colander refers to its core product as quote the world's first lightning native Derivatives exchange and quote they're also working on bitcoin

back synthetic stable coins, and a lightning enabled bitcoin wallet. So, um, what they do is they they level the network allows users to instantly open close positions directly to and from their lightning walls. So typically what happened is, if I wanted to open up an exchange account, I have to send bitcoin. Now, when I send the bitcoin, it could take an hour for that bitcoin to get there, which it could take me an hour to drive to my bank and send a wire transfer, much less of the

time it takes to get the money there. But um, so an hour still pretty fast. But with Lightning it can be done instantaneously, as a matter of fact, pretty much instantaneously and free. Um, and that's what they're talking about so they're going to be allow people to fund their walts with using lightning. Lightning is the second layer that allows to send bitcoin faster and cheaper than any

other cryptocurrency that's out there. Also, they're creating this synthetic stable coin UM, which basically is a traditional stable coin is UM. I would give you one US dollar and you would give me back a token that's a claim on that dollar, So I can use this token as a dollar. It's stable to the price of the dollar, but anytime I want to give you the token back and give my dollar back. These are synthetic stable coins.

Is a little bit different, and basically they mimic a stable coin, but they don't actually create a stable coin token, and so it's synthetic. So what it does is it aims to achieve stability by simultaneously maintaining a long a by and a short cell position on bitcoin at the same time. So if I buy bitcoin, I hold bitcoin, I'm long, and what I would do is I would

go short one bitcoin at the exact same time. So that way, if the price goes up or down, the two the long and the short positions are evening themselves out. UM and with the synthetics um Bitcoin. You can also short it in several other FIA denominations, So I could create a synthetic stable coin pegged against the Euro or the end or whatever I want. So it's pretty cool. Now they also are building out a Lightning wallet, which

is going to be like a Google Chrome extension. Now this is pretty interesting because it will integrate with the stable coins. The synthetic stable coins are they're they're creating, but also other applications in the ecosystem. Now, the reason why this important is because of what's being built now in this creator economy. So the creator economy is basically where me as a content creator putting out this podcast

to you right now. For example, instead of needing for me to get sponsors who may or may not want to tell me what I can and can't say, what I could do is I could just provide value to you as a listener, and you could give me value back in the form of money. That I don't need sponsors now, I'm working for my users. Um, I'm gonna talk about that and and more in a minute. You're listening to the Mark mo Show talking about the decentralized revolution.

Now the world is changing through politics, finance, and technology. We're talking about the technology right now today and how it's changing. I got a lot more to cover on this specifically and some other big stuff that just happened. Be back with all that and more in a minute. You don't want to miss it, so don't go away. I'll be right back, all right, Welcome back. You are still listening to the Mark mo Ma Show. If you're just tuning in and you listen to the Marketma Show,

we're talking about the decentralized revolution now. The world is changing, of course you knew that, and we're looking at it through the lens of politics, finance, technology right now today we're looking at the technology piece and we're talking about, um, how the bear market. What we're going through right now is the time for building. Most people they want to buy when the markets at all time highs. Oh, everybody's

making money. I want to buy bye bye, And then when things crash they just want to set on the sidelines. But the real money made in buying it and building at the bottom and selling at the top. UM. Just Unfortunately, human emotions don't work that way. And so what we're talking about is how people are building right now giving examples of how companies like this are building applications that will really change their future and change our future as well.

Now I was talking about how they're building this lightning wall. It's company called Callander raised about two and a half million dollars to build this lightning wall that sits in the Google Chrome extension. And the reason why I was talking about this enablement of this creator economy. And so right now, as a creator, I'm a creator on YouTube for example, and um, YouTube gives me money for ad sens right, they run ads on my YouTube videos, and

they give me money on my podcast. I can get sponsors, they can give me money. But if YouTube doesn't like what I say or my sponsors don't like what I say, that could be a problem. But in a creator economy would allow me to just work directly with my um with my you know, people that listen to my content and they could give me my directly. And that's one thing that bitcoins fixing. So imagine, for example, UM, Joe Rogan.

Joe Rogan is getting about two hundred million views a month now, UM imagine if each of those users were to give him fifty cents per episode, that would be a hundred million dollars per month. He could be making just everyone gave him fifty cents. Now, I know that lots of people will be willing to give him five or ten dollars per episode. I know that because, oh, I probably would. I don't listen to him all the time.

I don't listen to him very often, but on the shows I do want to listen to, I'd probably chip in five bucks. But we can also see if you go onto YouTube. YouTube has when you do live streams your power, you that can give you money if you watch, like Tim Cast, he does an I r L Tim Cast I r L every night he goes live, and if you watch, you'll see people are going hundred, hundred, hundred, fift, Like literally tip him hundred dollars at a time, hundred dollars,

fifty dollars, twenty dollars at a time. I've only done it two or three times, and I've gotten hundred dollar tips. And I'm not a tem Cast. So um, if you can get a hundred dollar tips, um, if he can, if I can, I mean certainly Joe Rogan could. And I'm just saying fifty cents now, he doesn't have to listen to Spotify and employees the Spotify telling him that what he's making isn't good. He doesn't have to listen to sponsor, hadn't listen to anybody. He can do the

best that he wants for his customers. If they find value, they can return back. So if that sits in the browser, then it's very easy for me as I'm browsing around to just click a button and just drop money. The other thing is like you probably noticed how the internet everything was free on the internet, right and now almost

not almost, but lots of things are behind paywalls. So now you click to read on an article New York Times, and it's like, oh, you gotta pay, you gotta pay, you have to membership, you gotta pay five bucks a month or fifty bucks a month or whatever. It is like all the stuff is starting to go behind paywalls, and that's real paying that. And now it's like I have to create account and I have to give you my name and I have to give you my pass where I have to create a password. I hate that.

I hate that have to create an email and a user name and a password for every single side I go to. I can't remember all this stuff. What a hassle. But what if in my browser I had a lightning extension and just, oh, do you want to read the article? Just drop five cents. Now you might say, well, why do we need bitcoin lightning to do that? And I would say, how can you send thirty five cents over the internet? And I'll wait for your answer, except I can't hear you, so I know you, and I know

you don't have one. There is no way to send thirty five cents over the internet. And as transaction costs to fifty cents, so you can't send ten cents or five cents over the internet. But with bitcoin you can, with lightning you can. And so if I had that lightning extension on my Goo Chrome and I came upon a paywall and said, hey, give us five cents for

this article, I just click a button. It doesn't I don't need to create account, I don't need a user name, I don't need a pass around need tony that I just dropped the five cents. Other things that we could do, for example, we could fix the bots on social media, which are a massive problem, which by the way, if you're following me on Instagram, I apologize in advance for all the scammers and bots that you get. Um, if you're not following on Instagram, then I know I just

made it so appealing, but you should. You can find me on on Twitter and Instagram. Just at one Mark Moss that that's the number one. But the bots on on Twitter and Instagram are so bad. If I post on on on Twitter sometimes I'll get up like a hundred bot replies like instantly Instagram, same thing. And the reason why is there's no cost for them to do that. They can instantly like on if you want on my YouTube, which again, if you're not following me on YouTube, check

it out. Just search Mark Moss on YouTube. But literally, um, I have you know, I'll get a thousand comments on a video for example. And I think they have some sort of like this boss has some sort of like script where they just probably put a button and it literally puts spam comments on every single comment that's there. And that cost them no money to do that. But for me, I have to pay a full time person, like a real person. I have to pay them full time just to sit there and go through and clean

all the spam out of my comments. So it costs them nothing, but it costs me something. Now, what if um, these social media platforms, he said, hey, UM, in order to join, we don't, we don't what they're what what the mainstream is gonna want to do is make it where you can't use these platforms anonymously anymore. I don't like that. But what they could easily do is say, hey,

you have to post up a bond. You have to put up a one dollar bond or a fifty cent bond, and if you, um, if you post spam, you lose your bond. Well just by having to put up that fifty cents. These spammers, these these scammers wouldn't be able to do that because now they will create that a million accounts, a million acounts fifty cents. It's too expensive.

So these are things that can happen very quickly. As we start to see this happening more and more and more, UM, then we've also seen, you know, more and more of this lightning adoption happening. I just named one company, but it's happening really fast. As a matter of fact, um Block, which is the parent company of Square and cash app, they integrated lightning into their cash app and has seventy million users UM in l Salvador. They're using it an

achiev a wallet. There's three or four million users. They're packs full companies about seven million users. Arcane Research put out a report saying that UM they see in the last two years Lightning users have gone from about a hundred thousand years to over eighty million potential users. Eighty

million potential keyword potential. They have access to Lightning, doesn't mean they're necessarily using it yet, but we've seen that payment volume has increased by four hundred percent just between the first quarter and the first quarter of twin two. So in a year, four increase in a year. That's amazing. Now, UM, like I said, what you can do it through podcasts. Now,

there are some podcast players. There's one called Fountaining UM sorry, Fountain is one called Lightning Video that are allowing UM to pay content creators for their work directly. There's games now that have Bitcoin rewards that get paid out over Lightning. UM. There's the Lightning enabled browser extensions that I'm talking about. Another one is called ALBI and you can have the bitcoin UM Lightning payments right in your browser payments. I'm sorry,

in your browser. This is all happening. It's all happening really really quickly. So all those people say that bitcoin is too slow and too expensive, they haven't checked out any new since uh we have who is the number? It was too big? Oh, eighty million potentially eighty million potential users could be using this right now. There's no other cryptocurrency that has eighty million users that have the ability to use any of their stuff right now. It's

pretty big. Lean. Listen to the Mark Ball Show if you're just tune in. We're talking about the decentralized revolution, how the world is changing through the lens of politics, finance, and technology. We're talking specifically about the technology that's being built out right now in the bear market that's changing the world. We be back with a lot more were in a minute when I come back. You don't want to miss it, so don't go away. I'll be right back. Hello.

You're listening to the Mark Mass Show. Welcome back if you're just joining us. We're talking about the decentralized revolution eation. Every week, of course, we talked about that and we look at it through the lens of politics, finance, and technology, and we're looking at some of this latest breaking news so you can be up to date. We're talking about before the break how UM. People that say that, well two things. One, how we're in a bearer market and

most investors run away in the bearer market. But the bearer markets are for building the bear markets. When you invest the bear markets when you create, when you build,

that's how you have the best opportunity. We're also talking about how UM the latest breaking news shows that these people with these old arguments that bitcoin is too slow and too expensive just haven't looked at anything literally since we're talking about how with Bitcoin lightning and how all these people are building on Bitcoin Lightning and how it's enabling us to send bitcoin faster and cheaper, but also in new ways. We're talking about this creator economy things

like that. But cash app this week came out out with some new announcements says that now users Cash app users which there's a lot of people, um can now send him receive bitcoin using the Lightning network. So again, now if you're using the cash app, you can send him receive bitcoin for free, nearly nearly free and instantaneous UM, which is a pretty big deal. It speeds up the bitcoin transactions and reduces costs by writing transactions through channels

without needing to use the main bitcoin blockchain. So there is a trade off. If I was going to sell you a car for fifty tho dollars and you're gonna pay me in bitcoin, I'd probably want you to send that on the base settlement layer. Then if I have to wait ten or fifteen minutes for that to go through, whatever, no big deal. Able to do the paperwork, but I want to make sure that that final confirmation is that. I want to make sure that transaction is censorship resistant

and immutable. Now, if I'm buying a cup of coffee for two or three bucks, or I'm a Starbucks for five bucks, I don't really care if that transactions uh censorship resistant, immutable for all attorney. So I'm happy to trade it off. I'm getting more speed and lower costs of the transaction for a cup of coffee, but I'm giving up some of the censorship resistance and mutability. But I don't really care about that because it's a couple of bucks. If it's a big transaction, I do care

about it, then I'm gonna I'm gonna wait. And so now it's up to us as the users to decide how we want to do that. And cash app allows you to send bitcoin now on both the base base layer, so it's more secure, it takes longer, or we can stand over the lightning layer, which is faster, cheaper, but maybe we give up some of the security. And so you get to try, you get to decide, it says on from the cash a website. It says that with lightning there is typically little to no fees involved, little

to no fees involved. However, it's for smaller amounts of bitcoin they're eliminating, eliminating it to just under a thousand dollars, just under a thousand dollars. But the cash app, uh, it's well, it's only available to the US and the UK right now, but they have over forty four million monthly users right now. That's how big and how fast

this thing is taking off. Now. Another thing I want to talk about, Um, some news that I saw this week that came out is that you know a lot of people say that bitcoin is too correlated to the NASDAC right. Um, they say that it's it's too volatile. Um, and uh, Wall Street is taking it over because they took these big positions, and I would agree with that, and I would yeah, I mean, I guess I would

agree with that, all right. So, um, Wall Street they love to trade, they love to manipulate, right, So they have big amounts of money, hundreds of billions of dollars, and they can push the prices of assets up and down, and they like to trade, and so um, they have taken bitcoin on as like a new trading toy. It's fun for them. And uh, it's super volatile, which they like because they can make profits up and down, and so they short it. It goes down the long and

it goes up. But what we want as longer term investors is we're always trying to spot the mismatch between perception and reality because therein lies our edge, therein lays our opportunity. So while um, I don't want to say the world, while people in the United States look at bitcoin is too volatile, they look at us like a risk asset, as a Wall Street trading toy. And it sort of is that's the perception. The reality is that

it's not. The reality is that's not what bitcoin is the reality for billions of people in the world living under very harsh authoritarian dictatorships UM with double or triple digit inflation, it's a life raft. So that's the difference of perception of reality. The perception is it looks like a Wall Street trading toy. The reality is that's not really what it is, and at some point that mismatch is going to swing back the other way. This week I saw an article it says that UM bitcoin is

quote basically a savior in Turkey. So it says, in Turkey, crypto represents freedom from inflation, national currency and the constraints of corporate life. So in Turkey, if you're not aware UM, they have massive inflation. As a matter of fact, their dollar, the Turkish, the Turkish lira, the t r y Turkish later has fallen over eighty percent to the US dollar in the last five years, massive inflation. So it says

it represents freedom from inflation. So if your currency is going to lose eighty percent of its purchasing power, what do you need to do? You need to get out of that currency before it loses all that value. If you're in a plane or you're in a ship going down, what are you gonna do. You're gonna get off of that ship, You're gonna try and get a lifeboat. So you've got a currency in Turkey that's losing that fast, you have to get out of it. Well, how can

you do that? Well, that's where a bitcoin comes in and gives him this life raft. Now, um, it says that. So first of all, people say that bitcoins to volatile, it's lost too much value priced in dollars, But what if you're not priced in dollars, what if you're priced in Turkish lear that's going down. So, for example, I saw here, um, so I posted this on Twitter. Again, if you're not following me on Twitter, you should check me out there. I do a lot more play by

play on a daily basis. You can follow me on Twitter or Instagram at one Mark Moss that's just the number one Mark Moss. Um. But I posted this on Twitter and I said, um, you know this perception versus reality kind of thing. And someone commented back and said, um, oh yeah, but you know it's it's too volatile and gold are much better you know, life raft, Gold's life better life draft um and I so I had to do a little bit of research. So I got the

research for you here and um. In the last twenty four months Bitcoin priced in Turkish lira, not priced in dollars, but price in Turkish is up. Gold in the same period is up eight So gold has been a great life raft. Basically, instead of losing eight percent of your money, you're even. You didn't lose. That's good, it's good you didn't lose. You say it even congratulations. If you had bought bitcoin, not only did you not lose your up now you might say mark your cherry picking dates. Yes,

I am, I am. We can sit here and look any dates you want. Do you want to look at five years, ten years, you want, look at one day, seven days. We can look at whatever time frame you want. Um. And if we look at seven days or seven weeks, or seven months or seven years, we're gona get different answers for all of those. The reason why I chose two years is two years is a pretty decent time frame, UM. I think when it comes to bitcoin, um, it's very volatile to be used on a daily basis, meaning the

price goes up and down. You know, now lately it's been pretty dang stable, but the price does go up and down. And so if I was holding my life savings or all my money in bitcoin, and then I needed to pay my rent next month. It could be down, right, it could be down And so I think it works well um as a store of value. Right now, I think it's on its way too evolving too many of exchange. It works at the store of value now, store of value being like a long term store of value. Now, I,

as an investor, think long term. I think in years, not days, weeks or months. I think it really started because I started as a real estate investor. In most of my real estate projects in beginning to take about a year. Then as I started getting bigger projects, they take like five years. So I started looking at things on like a five year time frames. So if you look at bitcoin over like a three year time frame, UM, I don't think there's ever been a three year time

frame where bitcoin has been down. So I pulled a two year time frame. You can pull whatever time frame you want, um, but if you're looking at it over days, weeks, or months, you're not gonna make it. Um. You're you're listening to the Marketma show. We're talking about the decentralized revolution. We're talking about bitcoin, the technology, how it's faster, cheaper, and more private to send Bitcoin than any other cryptocurrency.

How um eight eighty million users have access to do that right now, and how it's a life raft in Turkey. I got a lot more to cover when I come back in a minute. Um, we are going to talk about some other tech stuff that's happening. Big, big, big news. They're two big, two big piece of news. You don't want to miss. It'll be back in a minute. Don't go away, all right, welcome back. You are listening to the Mark Mo Show. We're talking about the decentralized revolution

each and every week. Of course, the way the world's changing, and it's changing fast. Some goods, I'm bad depends on how you look at it and what you're looking at. I guess specifically, UM, but we're talking about um the technology piece today I look at I like to look at through the lens of all three things, politics, finance, and technology, specifically where those three things converge. So I

don't they care about politics for politics sake. I care about politics insofar as it drives finance, and I care about finance as so much as you know it involves technology and and all that together. I like the convergence of those three things specifically, UM, and so we look at those. Um. Some big news came out this week though it was earnings week, meaning we already know that the stock markets are down. We're off to you know, one of the worst years for stocks and bonds than

we've seen in history. And uh man, it has not been good for the text stocks specifically. And I think it's an interesting thing to look at if we want to look at kind of like I said, these, uh, the combination of politics, finance, and technology. As we look at this, the tech stocks are getting smashed, some of it because of their political leanings and some of it

because the technological leanings. But leading the board here, I mean the company that just is getting just absolutely smash is uh the artist formerly known as Prince No, I'm kidding. The company formerly known as Facebook, now known known as Meta and Meta is just getting absolutely demolished. Um. You know, maybe for any number of reasons, maybe because of their

political ideologies. Right. We've seen Mark Zuckerberg go on Joe Rogan and admit that, yes, because the government asked us to, we censored information that probably could have cost the Democrats an election. I mean he admitted it out of his own mouth. Maybe people are mad about that. Maybe it's because technology is changing. Maybe it's because um, he made a very bad bet. Um and he changed the name of the company from Facebook to Meta basically betting on

the metaverse. So they're trying to capture on this cryptocurrency hype. Obviously, Bitcoin is the big technological revolution is changing the world, and we have lots of little spinoffs of this, and one of these is this cryptocurrency little niche called the metaverse, and um he positioned his whole company for that and has lost billions, hundreds of billions of dollars because of that. Bad bad choices, maybe political leans, maybe it was because

of bad choices, investment choices. Um maybe it was because of other bad choices such as buying their stock back. But never mind that. We can see that they have gotten completely torched. As a matter of fact, when they're stock came out, it dropped, I'm sorry. When the earnings were working out this week, they've lost twenty in after hours. Looking at the daily chart, you can see that they've

lost seven years of price growth, seven years. They're all the way back to where they were in so seven years of the biggest bull market in history, with tens of trillions of dollars of federal money propping up equities, all gone, all for nothing. That's what Facebook has done, or I should say, Meta sorry, they've They've lost about seventy five of its value, which is unbelievable. Now. One of the best reverse indicators, meaning when they say by

you sell. One of the most reliable, one of the best indicators we have for the stock market is Jim Kramer when he says to buy, you sell when he says to sell you by and I mean it like I think, like a accuracy. I mean maybe it's like I don't know. And he came out on October and tweeted the lack of respect from Meta is incredible, meaning that the price was selling off and why would people do that? And people should buy there was October, which

that is the kiss of death. As I said, if he comes out and says that, that means you do the opposite. And that's exactly what happened with Meta. As a matter of fact, if we look at where are we here the twenty fourth, if you would have listened to Jim Kramer and bought on that day, you'd be down right now. And for the first time ever, I saw Jim Kramer actually come out and make a formal apology.

I think this reverse indicator is getting to him. He's finally had to come out and make an apology, which should have done a long time. But what he shouldn't do is he should stop telling people to buy and sell. He should probably just hang up his hat and realize he's the absolute worst. Well I had to say the worst in the world, but he's certainly the worst in known media. Like I said, his indicators like near perfect. Now on top of that, Meta has completely screwed up

UM since night. Until corporations were not as in like illegal, they were not allowed to buy their own stock back. But then the rules changed and then companies started buying their stocks. And part of the reason why is because what happened is I believe it was under President Bill Clinton. Um. They said that companies, when they pay their employees, that's tax deductible. Right, that's an expense. When I pay my employees, that's an expense. I have to pay tax on that money.

But they said that you can't pay a CEO over a million dollars or any anything over a million dollars is not tax deductible. So they make one stupid law and it creates even bigger problems. And so what happened is corporation stead fine, then we won't pay them over a million dollars. What we'll do is we'll give them stock instead. And because now CEOs were incentivized with stocks, what do you think their main priority was to get

the price of the stock up. And so they do anything they can to get the price of the stock up, even if it's for short term gains at long term expense of the company. So they start thinking very short term about what they're doing with the company just to get the price of the stock ups. They can cash out. Who cares if it ruins the company down the road. One of those things was buying back stock. When they take stock off the market, it pushes the price up.

We see that Meta Facebook had spent just since July of two thousand one, spent fifty billion dollars. That's b would be fifty billion in cash money in the bank their cash. Meta spent fifty billion in cash to buy up their stock at a price of over three hundred dollars. Today, the price of the stock is under one hundred dollars that means they've lost about one third of their fifty billion dollars in cash, or they've torched lit on are thirty two billion dollars? Mm hmmm, pretty bad, Pretty bad,

Pretty bad choice. Now. I talked about that because I want to highlight it in contrast to something else. In contrast to something else, Elon Musk has agreed to buy Twitter, And as a matter of fact, it looked like the deal wasn't gonna go through, and now it looks like this week it should go through. He should take control of the board this week. Now there's lots of stuff going on about this. How dare he As a matter of fact, now the government wants to open up investigations

into him. Uh is there anything they can do to block this? How dare he buy this platform because he wants to have free speech? How dare he? M They said that they're losing control of the narrative management tool known as Twitter. Um Bloomberg ran article saying, quote, there's no commercial viability for a network that doesn't have some level of content moderation. And Twitter is already struggling with

losing its most active users. So in deciding how to free Musk wants speech to be he may have alien users to get there. Well, it's funny because he says he wants to create free speech. He says that it's important to the future of civilization to have a common digital town square. He says there's currently greater danger that social media will splinter into far right and far left echo chambers that generate hate and divide our society. And he says that he wants to have a place that

is open, available for everyone to have dialogue. Doesn't sound so bad to me, And I say that because Twitter stock prices up thirty one per cent since his announcement. At the same time, since the announcement, met us down and Googles down, Facebook and Google censoring, They're down Twitter. Free speech is up, and that is the decentralized revolution we're talking about. You listen to the Mark Moa show. Hopefully enjoyed that. Thanks for us a name