SPEAKER_00: Okay, we're kicking off our crypto series with doing analytics CEO and founder Frederick Haga. But first I'm going to do the solo dolo news program Molly's out for spring break. I'm hoping she's enjoying some well deserved rest gonna go rapid

SPEAKER_01: fire today. Uber is making a super app and piloting long

SPEAKER_02: distance travel options in the UK. Twitter is debating the edit button again and looks like it's coming and open AI has launched a new product called Dolly to it allows you to give a caption and then it builds you an illustration it's next level and super interesting. Plus, I do a quick review of CNN plus the $3 a month $6 a month depending on when you bought it over the air service over the top service OTT that is ad free stick with us.

SPEAKER_05: It's going to be a great program. This week in startups is brought to you by Odoo Odoo is a fully customizable and fully integrated suite of business apps that lets you build and scale your stack as you build and scale your business. Your first app is free forever. And right now Odoo is offering $1,000 off your first implementation pack at odoo.com slash twist. That's O D O O dot com slash twist. Coda. Coda is the all in one doc for teams. If you've got a stack of niche workflow tools or if you're buried in docs and spreadsheets, Coda is the doc that brings it all together. Startups can get a $1,000 credit at coda dot IO slash twist and rocket to hire in today's competitive market. You need outstanding recruiting rockets expert recruiters paired with ML candidate matching set them apart from the rest. Get 20% off your first placement at get rocket dot com slash twist.

SPEAKER_07: Hey everybody. Welcome to another episode of this week in startups

SPEAKER_01: housekeeping up front. Shout out to my friend Mark Pesci for launching this week in startups Australia's 10th season. I kid you not we've been doing it for 10 seasons. Thanks to all the sponsors for supporting the show over these 10 seasons. And I as is the tradition was his first guest. So you can go check out TWI startups a US. So we're at TWI startups and then we added a US to the feed or he adds that to his Twitter handle or you can search for this week in startups Australia across all your podcast feeds and subscribe. Mark is just an incredible futurist or you can go to TWI startups a US.com. He's got his own website set up for it and it's like my own little franchising business here. We let Mark do it. He takes the advertising revenue. I trust him and he's built this great little franchise over there in Australia and we love the ecosystem there. We like to invest there. So it's just been absolutely great. And in fact, I'll just ask my team. Let's publish that first episode on Saturday. Now we'll do a little

SPEAKER_10: Saturday episode and publish it to our feed and I can do a little preamble to set the stage for that we're cross posting. Shout out to

SPEAKER_01: rule of both my friend and for a long time collaborator for being officially named Doug Leone's successor at Sequoia. We had an amazing interview with Doug Leone one of the you know five best I think in the history of the program. If you want to check out that episode, it's episode 1403 1403 in your podcast player or you type Doug Leone this week in startups into YouTube and find it instantly. If YouTube is your jam. Okay, on to the news. Uber is planning to pilot long distance travel bookings in the UK. So what this means is you'll open up the app and instead of just being able to get food or order your groceries, get an Uber x get a Lincoln town car or Uber black, you'll be able to book your train tickets, buses, which are popular in Europe, obviously, and even flights according to a report from the Financial Times. This is no news flash to anybody who's paying attention. Travis had this vision from the beginning at Uber and they've been piloting this for a while. Now the UK is going to be the pilot market you may have read that they were just able to get their license renewed there. There was some controversy around Uber, you know, being able to operate actually in the UK. And they seem to have cleaned that up and made peace with whatever the issues were. So what is this

SPEAKER_02: going to look like? Well, you know, you're you take an Uber to a train station on the way to the train station, you book your ticket all in the same app. And these super apps as they're called are popular in Asia. And you can do many things in one app because you have your preferences in there. It has your location, you trust the app, it's got your credit card information. Maybe you have a premium, you know, like there's an Uber one, I think subscription is what it's called. So that is the concept here. Pre COVID 15% of Uber rides were to airports according to the Financial Times report. And

SPEAKER_07: Jamie Hayward, the Uber Regional General Manager for Northern Eastern

SPEAKER_02: Europe gave a quote. You have you have been able to book rides by exposed services and scooters on Uber app on the Uber app for a number of years. So adding trains and coaches is an after progression. And I think that's absolutely correct. What this does show is Dara is really just taking the time to fill out Travis's original vision. But remember Dara was at Expedia. And so this is something that's very much in his wheelhouse. Expedia obviously was great for booking tickets and hotels. If I could open the Uber app, and you know, go down to the Tesla Austin event going on tomorrow night, and I could book my flight on Southwest or, you know, Virgin JetBlue, I guess, book my JetBlue flight, go to Austin, and on the way to the airport, book a hotel, man, that would be so easy. Or if it said, Hey, you're we see you're going to the airport, what's your destination? I put in my destination is Austin, and then it preloads Austin for me, right? So this could be really clever. I put in that I'm going to Austin. It's like, Okay, here's the restaurants in Austin, would you like a reservation over the next three nights? When are you coming back from Austin? Okay, we'll have a driver at would you like to reserve a driver at your hotel? Do you have a hotel, all of those things would be done pretty seamlessly. And you can even see them doing packages. And this is very popular amongst young people was very popular in the UK. In fact, where people would have these last minute there was a literal service called last minute.com. I don't know if it still operates. And what they would do is people would say on a Thursday with their friends, they would be at a bar and a pub. And hey, what do you want to do this weekend? I don't know. Let's go to Spain and they would just open up last minute or another travel app and would say, here's a package flight plus two nights hotel, plus breakfast included, you know, $199 person $299 person book here. So I think that's kind of going to be an amazing experience and experiences also launched in the Uber app recently. Uber stock is down a little bit today. It's been sideways since they IPO. It's gone up as high as 60 down to 15 or 16 during the pandemic. And I am still long the company I did take some chips off the table over time. You know, so some chips to Masayoshi son, I was very public about that, but still holding a very large portion of my position to this day. I think the stock could go 10x from here, you should do your own research. But that's why I'm holding it same reason I'm holding Robin Hood. I think the best is yet for both of those companies that I was an early investor in. All right, in other news, Twitter is adding an edit button. They've been talking about this forever. This should not be difficult. It's very simple to have an edit button. Why don't they have an edit button is what you have to ask yourself? Well,

SPEAKER_00: there are a ton of people publishing to Twitter all the time. And if somebody were to say, I love Joe Biden, and then

SPEAKER_01: everybody starts retweeting it and some really partisan thing, I love Trump. And then they take the word love and make it loath. And now you've retweeted it, you favorite it, somebody takes a screenshot. Oh, you retweeted this haha. You retweet or you know, something even God forbid something super inappropriate. They use hate speech. So everybody's like, Hmm, should we

SPEAKER_00: let people edit it or not? Those are the big issues around an edit button. They are easily easily solved with doing what I believe Facebook did. If you edit a post, it says edited, and it says the time and then you can click and see the edit history. And

SPEAKER_01: if you get reported for doing the bait and switch kind of thing, trying to trick people into retweeting something that they would be absolutely terrified or regret retweeting. Well, that is easily reported. And then you just don't trust that person and follow them, you never retweet them again. So I think a five minute window is probably reasonable. And having the history there and letting showing the history just says in big letters under the tweet, this has been edited, and then it says, click here. And when you click it, it opens up a little caddy opens up and says, Here's the actual original tweet, and it just puts in red, something called redlining in legal, take two different documents, you redline them. So opposing counsel sends you a document back with their changes, you they can tell you what the changes are, but you want to trust, but verify. So you verify that with redlining, you do the red line, boom, you can see it there. So in January 2020, during a Q&A session on Wired's YouTube channel, Jack Dorsey explained why Twitter didn't have an edit button. Here's 68 seconds. I'll see you on the

SPEAKER_07: other side.

SPEAKER_31: As I owe Twitter, can we get that edit button in 2020? The answer is no. The reason there's no edit button, there hasn't been edit button traditionally, is we started as a SMS text messaging service. So as you all know, when you send a text, you can't really take it back. We wanted to preserve that vibe and that feeling in the early days. But now, you know, we have an app, and a lot of people are using us on the web. And there's some issues with edit that we can we can solve. One is, you might send a tweet, and then someone might retweet that. And then an hour later, you completely change the content of that tweet. And that person that retweeted the original tweet is now retweeting and rebroadcasting something completely different. So that's something to watch out for. A lot of people want it because they want to fix a quick spelling error or a broken link or whatnot. And that's great. We've considered a one minute window or a 30 second window to correct something. But that also means that we have to delay sending that tweet out because once it's out, people see it. So these are all the considerations. That's just work. But we'll probably never do

SPEAKER_01: it. Okay. So 75% or so people want it. Obviously, Elon did a poll and the new Twitter CEO said, that's happening. And so here is actually an exchange where somebody talks about everyday astronaut actually talks about it under two conditions. He says it's available for a few minutes. Yep, I've 10 minutes. I put it at five. And when it means there's a small link that shows the edit exactly what I just described. It's pretty obvious stuff. It's been done a million times. But I think what we're seeing is, um, with Twitter's new shareholder, um, who likes to do customer support. I think Elon's really good at building products, obviously. He's also good at talking to customers. And you saw that all the time where somebody would have a problem with their Tesla and he would do frontline customer support. And this is not something new. Since the early days of Tesla, you know, anytime I would be driving the roadster, Elon would say, what should we fix? What should we change? Like this? The first thing he would say to me when you know, and to the first 100 car owners, and he'd write it down, he texted the blackberry it to everybody in the in the in the team, and he takes that stuff seriously. And I think product velocity is something that has been a little bit challenged at Twitter, because Twitter had, you know, a series of CEOs, you you did have Evan Williams, who is a very thoughtful person. And, you know, methodical. If you look at medium, if you look at blog or his other products, he was very methodical. Another way of saying considered another way of saying, candidly slower. And then you had to Costello to Costello was the adult, let's build this into a business. He did not have, I would say to Costello incredible product shops, he's not a product driven CEO, he is a people driven CEO, an operations driven CEO and a business driven CEO, he really built the business. So you had back to back CEOs, neither one who was making bold decisions. They had jack, who is I would say a product genius, perhaps even, you know, a product genius who maybe wasn't as interested in these mundane, simple things and had a very strong opinion and also was working on the product, you know, half the time while he was running square. So you didn't have product velocity there. We'll see what the new CEO if product velocity comes back, it does seem towards the end of Jack's

SPEAKER_02: tenure, the product velocity did increase dramatically, where you had Twitter blue. And they tried their own like stories product, they got Twitter spaces, a clubhouse competitor out instantly. So the product velocity is up. Now let's see if they listen to customers. And really, the big thing I think is getting rid of bots and making the overall experience more pleasant. And that's where I think they should just take my advice, which I wrote a couple of years ago on my blog about letting anybody, anybody become verified. That is the killer feature. Just let people take their credit card out. When they pay for Twitter blue, whatever name is on the credit card you have is your name, and it's written into your account. I know

SPEAKER_01: you can spoof a credit card, of course, but it puts a you know, light blue checkmark there, we have some indication that this is the name from the credit card. Therefore, you know, we have an idea of who this person is, you can pay at one time, or if you have a subscription, they go through the process of generally verifying you a little bit, then you as a user could pick, I want to see only verified accounts, or I want to see

SPEAKER_02: verified accounts, first and up top and then, you know, give me 20% on verified accounts, and you could kind of move the service to

SPEAKER_07: having more real names, and less noise, less aggressiveness, let's say from anonymous accounts, which I think is what drives away a lot of people and why Facebook and other places maybe are a little more delightful. Listen, when you

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SPEAKER_07: $1,000 credit on your first implementation pack. Go to odoo.com slash twist for $1,000 off. That's odoo.com slash twist. Okay, in the

SPEAKER_02: we live in the future section, which we love doing this segment every week. Open AI, the nonprofit organization that Sam Altman founded, just announced a new product called doll dash E D A L L dash E dolly, I guess like Wally, and it's dolly too, in fact, and it creates realistic images from text, you've seen this before. It's a bit of a parlor trick. In in some people's minds, but in other

SPEAKER_00: people's minds, this is becoming more sophisticated. And what it's basically showing is the relationship between words text text in a box and an image. And over time, AI is starting to figure this out, not just, hey, can we tell what's in this photo

SPEAKER_02: that was mind blowing decades ago, hey, we take a photo and we just put the tags on it automatically. That's a baseball. That's an orange. The difference between a baseball and an orange are these

SPEAKER_01: factors, right? You train the data set. Well, now you can just give a caption and it builds a photo or an illustration from it. So Sam Altman, the founder or co founder of open AI asked people for suggestions and Flexport CEO and bestie guest Ryan Peterson replied asking for something pretty unique. Ryan Peterson, who is, you know, deep in the shipping game says I would like to see a shipping

SPEAKER_00: container with solar panels on top and a propeller on one end that can drive through the ocean by itself. The self driving shipping

SPEAKER_01: container is driving under the Golden Gate Bridge during a beautiful sunset with dolphins jumping around, to which we all see the following image. Oh, my Lord, you know, and this is but, you know, a couple of minutes later, I don't actually I didn't actually look at the timestamps. But it was, you know, just very quick. And it is actually a very gorgeous photo. And what a great vision, but no dolphins. So I, you know, I was going to give this an A plus, but I'm going to give it a B minus. Sorry, the AI forgot the dolphins. And here is a

SPEAKER_10: 30 second video of the Dolly to service to is a system from open AI that can

SPEAKER_51: take text like a koala dunking a basketball and turn it into an image that never existed before. It can also create new variations of preexisting images through deep learning. Dolly understands the relationship between text and images. Dolly can edit this image of a monkey doing something new, like paying its taxes while wearing a funny hat. Dolly shows how imaginative humans and clever systems can work together to make new things, amplifying our creative

SPEAKER_01: potential. Yeah, I mean, so what's the point of all of this? Well, this kind of passes, you know, a the uncanny valley test of like, did a human do this? Or was it done by a machine, right? You're always trying to figure that out? You know, who did this work? When I saw that solar image, I immediately thought an illustrator was given this assignment to make this for Ryan, who had this idea and just wanted a visual and he paid somebody 500 bucks to make it. So in that way, it did work. What could what else could you use this for? Well, obviously, if you were making a screenplay or a comic book. Now somebody with absolutely no artistic talent could say, I would like to have a comic book in which Batman is fighting Wolverine. And it's like, well, those are two different Marvel universes. Yeah, that's the whole point. Like Marvel is not going to be able to do that DC is not going to be able to do that. So you think about fan fiction, which is an entirely interesting category out there. Twilight the movie series was actually fan fiction. I forgot what it was based on. Oh, no, I'm sorry. I think 50 Shades of Grey was fan fiction based on Twilight. Somebody fact check me on that. But all these crazy fan fiction people, they kind of cut their teeth with other people's characters in IP. And then they obviously don't publish that because it would be illegal to do

SPEAKER_02: that. But here, a young person could be like, I want to see Batman fight Wolverine. It's kind of actually a dope concept. I wonder if they ever did that crossover. Now you got this whole

SPEAKER_01: series, it's made by somebody. And then instead of, you know, writing a script and hiring an artist and taking six months, you can do this in six hours, six days, whatever it is. Uh, and that's a bright, interesting new future. So creative tools that allow people to be superhuman, dare I say, like the email client that we're investors in shout out to superhuman.com and Raul, those tools, uh, just move humanity forward. So what's really great about this is that image of the shipping container that could

SPEAKER_02: raise a seed round. Now, many founders don't have the 500 bucks or 1000 bucks to get that image made. But I can tell you if you sat there and just iterated on this one concept, okay, well, we have a solar paneled one. And it's okay, how about if these, I would like to have 17 of these, uh, two abroad and then one at the front. And the one at the front is the cabin for people to sit in, uh, to monitor it. And they're able, I want to make a video of this because eventually able to do this in video, I would like to have the shipping containers break apart when they get, uh, you know, 500 miles off of the California coast. And two of them are going to go to San Diego, three of them are going to Long Beach, two of them are going to go to the central coast and the rest are going to go up to Long Beach. Wow, what an amazing video that would be, because then you would be adding to this creative concept that it's not just a solar powered shipping container flying to sea that there's they're able to connect to each other to get efficiencies and they're able to separate to go to different ports, which a ship obviously can't do

SPEAKER_01: just lots of creative ideas. And you could imagine, well, you know, we say a picture is worth 1000 words, while a video is

SPEAKER_60: worth a million, and that'll be the next card to drop is we

SPEAKER_59: obviously have deep fakes. But you could literally say, I want

SPEAKER_02: to see Wolverine as played by Russell Crowe. And I would see like to see the Batman played by Ethan Hawke. You know, these are two people who were rumored to play those parts. Wow, how great would that be? Or hey, show me the I want to watch the entire, uh,

SPEAKER_01: Nolan series of Batman films, but I want them to be with Ethan Hawke as Batman, or somebody else, right? You pick the character. That's a pretty crazy idea. Or I'd like to see Daniel Craig in Moonraker, that the original, uh, James Bond

SPEAKER_02: film, these things are all going to happen in our lifetime, like literally, Amazon is going to be able to take the entire James Bond series, and you'll be able to pick the James Bond movie, and then pick the actor in it. So we're having this whole debate that should, you know, does James Bond need to be a white English guy? You know, could it be a woman? Could it be a person of color? Yeah, sure. You pick, you start the movie and you say, I

SPEAKER_22: want Idris Alba. I want a woman to play it. I want to play G.I.

SPEAKER_60: Jane. What's the actress's name? Who was awesome in G.I. Jane? I hate to make a reference to G.I. Jane was the first one that came to my mind. Demi Moore. Demi Moore is James Bond. Sure. Let's go.

SPEAKER_10: So really exciting stuff. We certainly do live in the future.

SPEAKER_45: Efficiency is one of the main components in startup success. Everybody knows this. You got to be efficient. That's what Coda is all about. Coda is the all in one doc for teams. Text and tables live together in the same document. And this helps any team collaborate more efficiently, especially remote ones. They've got thousands of templates to work with at Coda, or you can repurpose templates published by some of the best innovators out there for yourself. Coda works out of the box and it's completely customizable. So you can create a wiki or a knowledge hub for your team. You can onboard new hires quickly and adapt fast to any major or minor changes in your business. Here's how we use it at This Week in Startups. My guy Presh made an upvoting system on Coda so that you, the audience of This Week in Startups, can ask questions and request topics to be covered on this very program. You can see this at This Week in Startups dot com slash questions. And if you go there, you can submit a question or a topic and our producers might include you in the show. You can vote things up and down. How amazing and awesome is that Coda has an amazing program for startups I want to tell you about. They're here to optimize and support your docs. And they're going to give you $1,000 credit right now. Yeah, you heard that right $1,000 credit at coda.io slash twist coda.io slash twist. Alright, moving right along as

SPEAKER_01: we do the solo dolo, a former fast employee Gary Darna ran swag at fast. And he tweeted today about fast shutting down. I'm saddened by the outcome at fast. If you don't know, they spent over $100 million to make 600,000 in revenue is a complete debacle. And, you know, what made it particularly easy to dunk on is the founder who's Dom who's been on the show was more than willing to give everybody advice. And, you know, was a super marketer, maybe too much marketing. And, uh, he said, you know, he was this person, Gary, obviously ran the swag there. And he said, if you've heard of us, it may have been through our 60,000 hoodies sold. I ran our store and need to find what's next who wants me to make their company swag. And I quote tweeted him. And I, I, and I just said they had a dedicated swag person at fast before product market fit. That's like signing autographs for people before you're famous. So a little mini dunk for me, but I did it for a reason. I'm making the point about startups like you really need to focus if you're making the swag before you've actually become a brand. That's a problem. Like it shows a lack of focus or it shows maybe a little delusion. But that does seem like a very good idea for larger brands. In fact, Elon has sold surfboards and flamethrowers and other things and Apple obviously, you know, people would buy, you know, a napkin. People would

SPEAKER_02: literally buy napkins with the Apple logo on them and they would pay five times as much literally. If I made napkins, just a napkin. If I made that with the Apple logo, you could sell it

SPEAKER_36: with a 90% March as opposed to the 2% March paper towels from Apple literally would go for 50 bucks. And in fact, they do right. They, they, they actually sell a polishing kit, right? So but somebody hired this kid because if you don't know the

SPEAKER_01: history of this, they sold a $5, uh, hoodie and they sold tens of thousands of these. And everybody is running around with fast hoodies and socks and other apparel who have no idea what

SPEAKER_02: the company does, but they, they were able to tap into something. So congratulations, uh, to him on actually, uh, doing something interesting. And if you've got a company at scale, like, I don't

SPEAKER_01: know if you're, I don't know, stripe, uh, maybe stripes would hire this kid or yeah. If you're Ryan Breslow from bolt, the ultimate troll would be to hire, uh, Gary and have him make your

SPEAKER_10: swag for bolt. So let me just get a shout out one more time. His Twitter handle is Gary G A R Y obviously Darna, D A R N A. Somebody go hire Gary Darna. Seems like a smart kid. Uh, he might be 50 years old, but he seems like a smart kid to me. Uh,

SPEAKER_01: little quick CNN plus review. I, uh, was able to subscribe to it. I thought, Hey, this is an interesting idea. Um, you know, people subscribing to a news program. Uh, and I watched a couple of shows, Jake Tapper's book club, you know, his magazine style show. I love Jake Tapper, but it was way overproduced. Um, and it would have been much better if it was less edited and glossy. I don't think people are going to pay for magazine style shows. It's like CNN is kind of generic enough. And then this is, I would say weaker content than the other book clubs in podcasting. So it feels like they took the magazine style show, whoever did the art direction for CNN plus probably should be, you know, uh, sunset. I don't want to say fired. I'm going to be fired here, but it was the wrong editorial direction to go for magazine style shows because magazine style shows are what you watch when you have

SPEAKER_02: over the air television and you don't want to go deep. They're just generic made for the lowest common denominator. And I would rather see Jack, Jack, Jake Tapper, who I like a lot. I love JT. I would much rather see him go deeper and do 90 minutes on a book. And, you know, as opposed to this very short, uh, magazine style show, the, you know, magazine style show like, uh, Anthony Bourdain's is one in a million of those shows because he's so fascinating himself. And he did the artistic

SPEAKER_00: direction for that show. He was the one who really made it interesting and, and they did something different in that show and his ability to write his own monologues was just second to

SPEAKER_02: none. And I think they looked at Bourdain's show and just said, how do we make 10 more of those? And none of them are good. They're all just overproduced and very lightweight. And it feels like the hosts are kind of going through the motions and they're not putting enough work into them. So that show was kind of weak. And then they have a live component, which they've obviously copied, you know, YouTube, like we're doing here. Um, and you kind of queue up and ask questions. And it was interesting, this interview club, uh, and I'll pull up the interface here, but it wasn't live chat. So you lost the, I don't know, dare I say the riskiness of having a live chat for having a filter chat. Now I understand it's CNN and they don't want somebody to screen grab somebody saying something racist or insane or insulting and shaking up the host. But if you want to make it interactive, then you have to take the good with the bad. And if you're going to make interactive, but you

SPEAKER_00: put a queue where some person has to screen the tweets or the questions coming in, you fail. So this shows that they don't understand how to do live, but it's easily fixed. They should just be the question should come up and then the mod should be able to take them down afterwards. Just copy what YouTube does. YouTube has mods. You can designate people as mods. And if somebody says something inappropriate, people don't see it by default. It's just like put in a smaller font. And then you have to click to show it to everybody. And the mods kind

SPEAKER_02: of watch things that have certain keywords in them. You

SPEAKER_01: know, if you put the F word in there or something, I watch Professor Galloway show. Again, it's a magazine style show. I know people think I have an axe to grind with them. I don't I just think his predictions are hilarious. And I honestly thought his predictions were kind of a put on and that it was kind of an act, you know, like a little over the top. But apparently, he's pretty sensitive to the stuff. But it's

SPEAKER_00: not good because it's overproduced. The one thing he did do that's good is actually because he can think on his feet, his man on the street work where he's like

SPEAKER_01: interviewing people at South by Southwest was interesting. But it's the it's not as good as when he's with Kara Swisher on pivot. So again, CNN plus is like, we're going to make a magazine style show that is nowhere near as interesting as the free podcast you're getting. And it's quicker and faster and, you know, kind of cheesily produced. And then they expect people to pay for it. That's just not going to happen. What they need to do is if you're going to have interesting choices like Professor Galloway or somebody like, you know, Jake Taper doing something interesting, you want to let them go for it, you want to let them go for 90 minutes, 120 minutes, 75 minutes, did you learn nothing from Joe Rogan or podcasting or interactive shows on Twitter? The best part about it, which I didn't think I would enjoy as so much in a news app was that there were no commercials. So you know what the actual best move here is, instead of CNN plus being like a bunch of new shows that are just not as good as Anthony Bourdain's magazine style show and no magazine shows that we're going to touch that and very few will be that interesting. I mean, I haven't watched the Stanley Tucci stuff yet, but I have a feeling that's going to be very

SPEAKER_10: good. Again, some transcendent talent, going to foreign places

SPEAKER_00: pretty interesting for people not having ads is the big win. So why don't they make CNN plus CNN without ads. So it's CNN minus the ads. That's really the name of this it's CNN minus when you

SPEAKER_01: don't have ads, your consumption goes up. That's why I pay for

SPEAKER_02: YouTube. And it's absolutely fantastic. If you don't pay for YouTube's ad free service, it's awesome. I pay for Hulu's ad free service, they pay for the NBA is still they try to insert

SPEAKER_01: some ads once in a while. I love Chris Wallace. And I was watching him live, but his show doesn't use interactive interface. So I have a feeling Chris Wallace doesn't want to deal with the Meshuggah and craziness of a live audience. Therefore, they gave him a pass so he doesn't have to take the interactivity. And then Anderson Cooper did something on parenting. And it was very one on one is, you know, kind of talking about basic parenting techniques, which again, is just

SPEAKER_78: not worth paying for. But Anderson Cooper talking to people

SPEAKER_01: about his children is incredibly compelling, because you can see it's authentic, and he cares deeply. So that was a that was kind of hitting a note, I think for the producers are well done. Anderson Cooper showing something personal, really compelling because you see him in a different context. But I would say is this is closer to Quibi and will probably go away than it is to YouTube or,

SPEAKER_02: you know, HBO Max, but it's easily fixable. I don't know if it's easily fixable, but it's fixable. You need to make shows that are

SPEAKER_00: more authentic, go a little bit longer, you don't need to fit into this magazine format. It's goofy, and it's not worth paying for it. What people want is something more authentic, akin to what you're seeing on podcasting. The roadmap is there, look at the live shows on YouTube, look at podcasting, and do that. That would be much more interesting to people. It's what we do here at the speaking startups is what we do at all in. It's what Joe Rogan does authenticity, not polish. And I'll just say this about polish. I'm watching the Anderson Cooper show. And they're

SPEAKER_01: recording this in a park. And I'm like, these people idiots like this is frickin CNN. And I'm hearing wind noise. I'm hearing kids screaming in the background. I'm hearing horns going off because it's obviously somewhere in New York. And so I'm like, these people are and then I was like, Wait a second, that's actually kind of cool. I actually enjoyed it more. Because I was like, Oh, they really went to a park. And they really had to deal with this stuff. So authenticity is what sells. And I think maybe letting the oddball characters in the CNN family kind of go even a little bit more authentic and a little bit more raw is more interesting. That's why the you know, I'm giving Professor Galloway a pat on the back. He's really good with the man on the street stuff. And that's an actual skill. You need to be able to think on your feet, you need to be a little bit fearless. And when he's interacting with the public, it's kind of like his predictions are horrible. Obviously, it's we all make fun of them because they're so stupid. And they're wrong 90% of the time and the anti portfolio that he's actually very good with people. So I would just take Prof G have him do everything man on the streets, you know, vox pop, I think they call that and then Anderson, maybe interacting with his kids and maybe even a little more raw and a little more deep about these issues, talking to people about challenges with parenting. And then Jake Taper, haven't go deeper into the books, like, if you're going to do a book review, do a book and make it three hours and go through every chapter of the book and really go deep. So you're competing with something, you know, you're really servicing an audience that's a niche audience that's willing to pay you money. So I give it like a C plus maybe, I think if they, you know, really evolve this quickly that it maybe could be worth paying for but I don't know if any news product as a ad free subscription service is going to work but it's kind of bold of them to try to be honest, I would just take CNN and just take

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SPEAKER_00: great interview coming up. Dune analytics CEO and founder Frederick Haga is with us. Dune is a crypto analytics company that lets users analyze blockchain based activity. Why is that important? Well, if you want to see a fraud is going on or you want to see a trend, you can look at all of the trades

SPEAKER_01: because trades are put on the blockchain typically and you can make your own dashboard. You can do it for free with their tool and then other people can see the dashboard you made. Now if you want to do private dashboards where you're analyzing all this stuff, you got to pay them a fee. So Frederick joined Molly and I from Norway and we spoke about the entire space what metrics he uses to evaluate different projects and which two projects in crypto have actually released a product that has impressed Frederick based on their usage. It's a really interesting interview and you know I'm a crypto skeptic and this is a tool that lets you be an informed crypto speculator and cynic and you know skeptic because you can actually find the fraud and then if you can find the fraud and eliminate that well, you're going to probably going to be able to find the real projects which exist but they're sadly one out

Jason Calacanis: of 50. Hey everybody, this is the first episode of a 10 part series that we're doing on crypto because I don't know if you've noticed but in the past few years or so the web 3 space has been on an insane ride. After COVID hit, crypto saw a major boom. Obviously all these investors had in the words of Jason, stimmy checks and nowhere else to spend money except on stocks and crypto and also to be fair it was a democratized investment play that people felt like they could get in on in a different kind of way. This continued into 2021 where according to pitch book VCs then invested over 32 billion dollars in crypto companies that number by the way was 4.7 x higher than 2020 and more than 3x higher the previous record of 9.8 billion dollars in 2018 so yeah I mean tons of money being

David Friedberg: poured into the space and what we're going to try to do in this

SPEAKER_01: series is find out is anybody actually shipping a product and actually doing uh you know a product or service that consumers or somebody can buy and use and so today we've got actually a

David Friedberg: pretty good uh person to have on to kick off the series uh frederick hagga did I pronounce your last name correct frederick yeah that's uh approved yeah approved fantastic uh so frederick is the founder of a crypto analytics company what a great person to kick off the

SPEAKER_01: series with because we can get our bearings molly and that uh company is called dune analytics and people will pay them hundreds of dollars a month in fact 390 a month for their pro service almost five thousand dollars a year customers include uniswap ave missari consensus I know some of these names and um what let me ask you just uh welcome to the program frederick um why do people pay for your product to analyze the blockchain and to analyze wallets etc why are they paying for it and what does it do for them

SPEAKER_105: yeah so actually actually I think it makes more sense to start with the free version of our product which is uh way bigger and more exciting right now so we essentially allow anyone to analyze blockchain data so if you think about it a blockchain is a shared computer back end um where people run nodes and those nodes those nodes are made for verifying transactions and that's basically a piece of software trying to do that as efficiently as possible but when people put code on the blockchain and people start using it it produces a lot of data and this data is public however it's pretty hard to work with and extract because these nodes are not made for actually serving that data so essentially what we do is that we take all of the data that happens um on the blockchains all the activity we put it in a nice human readable format and we put it up on our website so anyone can write sql queries and get results and visualize um the results so basically we allow anyone to analyze any activity on the chain and then this is all done in a open public manner so anyone can also see what other people

SPEAKER_106: are doing so you have this sort of compounding open nature which is kind of the same ethos as the actual blockchains with people building smart contracts if i was to do a query and say hey who are

David Friedberg: the first 10 000 people who bought solana and what are the wallets and where did it go who's hodling who's selling who's got paper hands who's got diamond hands who lets go with stuff quickly who

SPEAKER_01: holds on forever yada yada i could use your tool to do that but by using your free tool do my queries automatically get posted to the blockchain and i don't have the choice to do them covertly i.e i wanted to make trades on this data so i didn't want to tip my cards is that what you're saying the

SPEAKER_114: free product free product works yeah so it's it's kind of a little bit similar to to github

SPEAKER_105: in terms of business models so essentially everything is free and open but if you want to keep it private you want to export it or like you know keep it to yourself uh that's when you pay us so basically if you contribute to the open sort of knowledge around what's happening on the chain it's all for free um but and that's like a very very powerful product and experience um but if

SPEAKER_116: you do want to keep it private that that's when you can pay us yeah what's the most interesting

SPEAKER_78: public query that you've ever seen somebody do that had downstream impact on the ecosystem yeah so we

SPEAKER_105: have we can talk about this chart right here that's up here now which is the the open sea volume this one has been extremely uh popular in one of our top dashboards um and open sea of course is the nft

SPEAKER_28: marketplace where people buy and sell nfts right and and what you can see here since this is all

SPEAKER_105: trading on public smart contracts that you can see on you you can see here their trading volume and what's interesting is when they recently did like a 13 billion dollar round you can actually see what product metrics they're doing that round on you can see reef time on the blockchain what they're actually trading volumes are what fees they're picking up and so as you can see here you know what what does the nft hype actually look like in numbers you can see that in january they reached almost 5 billion in volume and in january 2021 a year earlier it was 8 million dollars so they did a 625 x year over year on their trading volume you know and what's what's really cool here is that anyone can look into this stuff it's not just like you know investors that that see some kind of deck there's you know thousands and thousands of these dashboards looking into different uh product metrics and engagement in these products so when especially then when there's a token you know you can actually do investments so if you uh i can show you so this is my screen so there's a product called maker dao which is essentially a bank on the blockchain and here you can look at um you know the the balance that they have so they have like nine billion in assets in that bank you can also look at their revenues so

SPEAKER_106: you can see okay they're doing 75 million dollars in annualized revenues and then you can look at the

SPEAKER_105: asset price the mkr token that gives you a for ownership stake in that system and what you essentially get them is that you get a real-time pe measure and this is all feeding life from the blockchain so if you're wondering where this revenue is coming from you can click and look at the query and you can take it all the way back into to the blockchain data so you have this insane thing where i have this saying that the revolution will not be reported quarterly and that's because you know

SPEAKER_106: these things used to go in like a quarterly pdf um and that's how a product uh or a business reports what they're up to but here you actually don't need anyone's permission or any pdfs because it's all

SPEAKER_125: feeding real time live from the blockchain and you can see the actual traction in these products um

Jason Calacanis: feeding real time right i mean what's so remarkable about this is that the trading the fundamentals unlike many many markets are right there in the open available to people for free who is paying for this is it investors is it people who want to use this data to get a jump and also like jason said want to make sure their queries themselves are not manipulating the fundamentals yeah so so the the

SPEAKER_106: stuff we're looking at right here is is public and free like anyone in the world can use this and this is made by um a guy called seb that works with the maker team and he builds this sort of internally but also for the public and for their community um and basically all the investors that's active in in the space they use student to you know look at the traction of the things they're looking at but what's exciting here is that an even broader audience get access to this stuff and i think you

SPEAKER_105: know when there's questions around sort of reporting or like how dodgy is crypto or not this stuff is extremely powerful but also 100 public so you know anyone can you know this is essentially a bank's balance sheet we're looking at here and it's real time and probably that means that anyone in the

SPEAKER_106: world with an internet connection has more granular understanding of this system if they want to

SPEAKER_130: than like jamie diamond has over jp morgan's actual balance sheet from day to day um right back in the

David Friedberg: day we saw all these incredible news stories um where people had figured out that the unregulated exchanges were essentially faking how much transaction volume there was and they would say oh we have billions of dollars a day they didn't really have it and then of course you have the next level of

SPEAKER_01: uh what they call painting the tape um you know creating fake trades to prop up a market and so would your software does your software give the ability to look back into those early days of bitcoin and find those moments where people were creating false volume and is there a discussion about this very acute issue of painting the tape because we see it in nfts as well where people self deal and self-trade in order to create the appearance of volume which then pulls suckers into the game who say oh there's a hundred people who've traded this nft i'll be the hundred first i have all that downside protection of those other participants who if this dips well they're going to jump back in and buy it and other people have bought it therefore it's a safe bet yeah so i mean partly this this comes down to

SPEAKER_105: sort of civil resistance which means like can you identify the participants right it's kind of

SPEAKER_106: impossible to know exactly which address maps to which person um but what happens on chain which is a bit different from sort of an exchange reporting on itself is that it actually costs you fees right

SPEAKER_105: so if you do a trade you pay a network fee to the to the system so in that sense you have you

SPEAKER_106: know an actual cost for doing these trades because what we record here is actually happening on chain and someone paid a fee to do that transaction right um but there's like an interesting related

SPEAKER_105: um situation recently where this there was this attack on open sea a new product called looks rare that forked a lot of what um open sea had and they put a token in the system and they created this new nft marketplace that was competing with with open sea and an interesting thing is that they incentivize the activity so again if we look at the uh chart here you can see how this volume stack up against each other and the green one is looks rare this new system and you can see that in the beginning here it was actually higher than open sea which was you know a massive piece of news given that open sea was a de facto standard but then if you actually look at um for instance user numbers you see that the blue one is open sea which is at like 60 000 daily ish and then you look at this other one looks rare and they're down at 2 000 users daily and so there's been a lot of analysis on like what how much of this is worth trading because you're incentivized with a token if you trade on the system and what's been found is that so much of the the volume of this new system looks rare is just

SPEAKER_106: worth trading right so you have this way way more granular way of understanding these things and what you realize was everything that was incentivized you know uh was like heavily was traded but there's

SPEAKER_108: only like 2 000 users versus 60 000 for instance so it sounds like what you're saying is you're trying

Jason Calacanis: to create a you have created a product that can differentiate ideally uh data that can be faked because it is more centralized or data that can at least be manipulated because it's more centralized uh from real on-chain transactions to maybe cut through the hype like ultimately give people more

SPEAKER_139: confidence that the things that that are happening are real yeah yeah um yeah so we in general we we just

SPEAKER_106: make what's what's on the blockchain accessible and then we have a community of thousands of people uh like like these dashboards where this is a guy called hill doby and he's like extremely prolific

SPEAKER_105: and looks into everything that's happening right and then he serves up these ways of of analyzing the data and uh trying to figure out like in this specific case is this real um and then you know there's this

SPEAKER_106: ocean of knowledge out there in the world and i think in in the previous financial system you know everything is very siloed and and then you're sitting within a bank or within some uh company and you're serving your client or company but in this crypto space everything is very open and it's all like internet communities so instead of producing siloed analysis you know people just put their stuff

SPEAKER_105: out there build a name for themselves get like a cv as an analyst and then serve the the community with

David Friedberg: interesting insights given that you are uh you know just trying to spread the truth i would assume

SPEAKER_36: and that the platform's open like this and and you're giving people the tools to find out reality i would assume many regulators are subscribers to your product yes

SPEAKER_143: there are some that's using it yeah so the idea that

SPEAKER_36: you could as a crypto trader who was involved in wash trading or maybe in some kind of market

SPEAKER_01: manipulation get away with it this is a clear shot across their bowels that not only are we publishing this stuff and people are analyzing when you're doing something to manipulate the markets there are regulators who are using tools like this i happen to know they are um because i've talked to people who told me they were and who are deep in the crypto space and say you know listen the people who are

SPEAKER_36: cheating right now and who are like this you know we don't know with this you know openc competitor if they're actually cheating but it sure doesn't look good when you show 2 000 accounts having twice as much volume as 60 000 unless those are 2 000 whales something's fishy um there are regulators using these

SPEAKER_01: tools as we speak and they're you know probably building cases against the people who who are doing

SPEAKER_106: this yeah yeah yeah um i i think it's fair to assume that that regular regulators in general are some of the the most uh you know uh tentative or our focused uh observers of what's happening on chain um yeah

SPEAKER_36: that's fascinating and the fact that yeah you know that is speaks volumes that you're making the tools that maybe they put in a couple requests hey uh let me ask you a question about wallets because

SPEAKER_01: molly i think the core here is if you were to open a bank account in the real world trading account there's friction you have to kyc know your customer you might have to get signatures sometimes you have to get what's called a wet signature literally a notary has to do something or you have to sign a piece of paper and even the people who can open accounts quickly still have to retroactively get your information social security numbers etc if you want to take your money out and there's a certain you know uh friction there in crypto there's no friction if people want to correct me if i'm wrong create 10 000 accounts right now and trade 100 000 nfts between them using software there's nothing to stop somebody from doing that today correct there's zero friction there correct except that you do pay

SPEAKER_152: fees if you do any transaction on the blockchain right right so if you did trade every time you trade that

SPEAKER_01: nft it's going to cost you whatever a dollar ten dollars something in that range uh depending on how busy the the network you've chosen to traded it there so is there any way or any path because we're seeing regulation now in a major way um towards you being able to say this group of wallets are let's call them tier one for lack of a better term they're known they're on coinbase they're on robin hood what you know i guess robin hood is launching their own wallet system so these are known actors on tier one they're in western democracies with western with western regulation or you know real world modern advanced society regulation these ones are tier three they're in non-regulated dark pools of money and then these ones are kind of tier two and then do analysis based on

SPEAKER_153: real wallets versus fugazi wallets fugazi is a term for fake if

SPEAKER_105: yeah um yeah no that that's certainly is certainly possible and you know it's as simple as you know

SPEAKER_106: seeing who's putting some you know the the coinbase wallets are known uh so you can see who sends money

SPEAKER_108: to a coinbase wallet and these things and uh probably get a pretty good proxy of who's interacting has

SPEAKER_162: anybody done that like what what is the most like unregulated large what's the most unregulated or

SPEAKER_153: less regulated large exchange like what exchange has millions of people but it's less regulated

SPEAKER_105: offshore you know it's it's a bit of a patchwork on on the different jurisdictions in which um which exchanges are regulated where and how and these things so i'm not sure i can sort of comment uh credibly on those things specifically but i think in general um there's a lot of ways to figure out

SPEAKER_106: what these addresses are and there's also even a trend towards people more self-reporting you know tying it to their twitter account when it comes to nfts it's a lot about social signaling and it's like your your dart on your internet wall right so you you really do want to be public and more and more people have these ethereum names that are also in their twitter profiles and all that right so there's like a myriad of ways in which this activity has more context really yeah when that

SPEAKER_148: wouldn't that be interesting molly if you could take the coinbase ones and then some offshore account

SPEAKER_36: and then just compare the solana holdings the nf you know board apes uh you know pick a major project just bitcoin trades for for people who are legit and then people maybe who are hiding so what are the people who don't want to be known doing with their bitcoin versus the people who are don't care if they're known and are regulated and do pay taxes be right really fascinating i'd love to see some of those

Jason Calacanis: reports i mean one of the things we've been talking about so much on this show is this question of sort of like where we are in this technology cycle right a new technology comes along the people who understand it better than anyone else are in a position to make a lot of money whether that is you know legit or not but on the road to legitimacy and mass adoption are services like dune or at least something that tries to quantify the realness the fundamental realness of an economy right and on that note i want to ask you um about tokens because obviously it feels like not all of them serve a real purpose uh from your tweets it seems that you agree and so i wonder how you distinguish like a useful governance token a real token from a cash grab by somebody who's sort of slapping a veneer on it to

SPEAKER_106: you know make it sexier yeah no great question i think there's a lot of learnings to to be had from from just traditional web startups and and in many ways where for instance you know uh if something is

SPEAKER_105: lindy has how long has it existed a lot of things in crypto pop up get extremely hyped and prices pump right and then it ends up going away in three months so one thing is just like how long has this thing existed right um and how time tested is this idea and then i think another thing is simply you know does this product have traction are people actually using it and part of that is what we looked into earlier where it's you have openc and you have looks rare and looks rare has yeah so this is one of my tweets um so i think right now a lot of these um systems are like labeled as governance but actually people want what people want is a stock and they want to get you know the

SPEAKER_106: the financial upside and i think partly we're here because of the regulatory stuff where it's like you can't label a token of stock because then sec will come after you right um so that's partly why why people uh say it's governance and and those things um another thing you can do is like actually look at

SPEAKER_108: product traction so again if i if i share the dashboard here's uh dashboard with the category of uh

SPEAKER_105: decentralized exchanges so exchanges running on top of ethereum and you can see their trading volumes um and you can see okay there was 17 billion in in volume last seven days and then you can break it down by market share and you can see oh uniswap has 80 percent of market share in terms of trading value in in in decentralized exchanges and most of these have a token right so then you can think about okay what how do i want to invest um and you can see okay so uniswap market share is increasing

SPEAKER_106: over time right it's going downward here and the the pink part is is becoming bigger and bigger so basically you can do the same types of assessments that you do if you invest in a in a traditional startup or technology company like who's using it how are they doing in the marketplace in in their category right um and then you can look at the whole category so here's all trading volume on ethereum

SPEAKER_105: and you can see it exploded throughout 2020 and then kept growing and then it's plateaued a bit and now it's at around i think 60 70 billion a month and you can see it still that uniswap is dominating

SPEAKER_106: right so a lot of the same ways of thinking as in web 2 can be used in that tree i think um even though of course some of the assets are a bit more uh experimental um but you still want to probably own a piece of something that has users and engagement uh rather than something that does not and the

SPEAKER_107: people who are buying and selling the tokens in most cases like you're saying are looking for upside in

David Friedberg: them they're not buying them for the utility of it have have people figured out a way to look at people using a token of some type and say these people are speculators they're buying it just to see if the price goes up versus these people are using it in some way you know to play the game uh was it acts infinity or something you know are they using it to buy and sell uh songs or the rights to

SPEAKER_160: songs in a music token have people figured out how to parse speculators from people using the utility of the

SPEAKER_105: token yeah no no that's a great question and it depends a lot on each ecosystem um and of course

SPEAKER_106: these are programmable assets right so you can indeed make it part of the product's experience or some way you know you need to stake it or or some other way put it into the product to use it um and so you can of course track these things um and i think again these success rates are wildly different um and and how people build these communities and seeing also participation in governance is kind of a big one where you see okay you know we have 100 000 people holding this token but is it like a thousand or ten thousand or you know however many actually engaging with the um governance which is in many cases the intended use of the token and very often that engagement level is really low right and i think that again your question around like where we're in the cycle or where in the sort of evolution is uh crypto i think still quite early because many of these things are not figured out right you you distribute an asset there are some reasons why why that asset is interesting for people to hold but there are also like a lot of ways in which that asset is intended to to work where the engagement uh for that property is actually pretty um minimal um which and it's too cumbersome and so forth

SPEAKER_123: which two projects in the entire corpus of crypto which two are you most impressed with

SPEAKER_153: the data of utilization coming out of those projects which which one's number one which

SPEAKER_160: one's number two for you coke and pepsi that people are actually using the most yeah good question um i think

SPEAKER_105: i think actually the maker one we looked at uh with like it's essentially a bank on the blockchain and

SPEAKER_106: you can actually read their financial statement as you could have in the traditional bank you know

SPEAKER_105: in the real time dashboard feeding life of the blockchain i think that is really amazing and really cool that they you know did the effort to to present that um so i think that one is is a up there it's a really really cool example and then frankly i think is maker a stable coin or something that's

SPEAKER_191: the maker down yeah you make your dial so they have die a dollar peg stable coin um and so that's like

SPEAKER_153: a as opposed to using tether or usdc controlled by uh circle maker is like a dow controlled stable coin

SPEAKER_194: where people vote on the governance of it yeah so it's essentially over collateralized so you put in like you know 1500 worth of eat into a smart contract and then you can get the thousand dollars

SPEAKER_106: worth of die out um so it's like on chain you know credit facility um very very you know and and again

SPEAKER_105: back to like lindy like lindy effect these have been around for a long time and this the system has

SPEAKER_106: withstood like ups and downs and dramatics ups and downs in in crypto and it's still like a working

SPEAKER_198: on chain system okay so maker is your number one most impressive participation wise and what's number

SPEAKER_106: two yeah i think i'd say uni swap as well um that we have looked at like their volumes are absolutely insane you look you saw the market share right it's yeah explain to the audience what uni swap does for somebody who is not a crypto expert yeah so it's a pool of capital that you can trade against so say again i have um you know a thousand dollars worth of eat i have thousand dollars in usdc i put that into a pool of capital and then anyone can do a trade between those assets and say i will supply a little bit of it that will take out a little bit of um usdc and the the fantastic thing about the system is that anyone can be a market maker and you don't have to be there you know at the moment so

SPEAKER_105: it's just a pool of capital that lives in a smart contract um and anyone can you know show up to that smart contract supply a little bit of capital or trade against the pool that's currently there um so

SPEAKER_106: it's a novel new way of thinking about creating liquidity and but basically i think i i can't

SPEAKER_105: remember the exact number but there are you know hundreds of thousands of pairs on uni swap and this is a type of product that you know is uniquely enabled by crypto because a traditional exchange

SPEAKER_106: you need some amount of volume to actually get someone to bother to be a market maker and create

SPEAKER_105: some liquidity and actually get some trading going right in in some asset but with a system like this this is all self-serve and can be done in a sort of grassroots scalable manner where you know the

SPEAKER_106: three of us can can bootstrap liquidity from some for some system that we create um and then which is

SPEAKER_200: the equivalent of somebody who owned a bunch of shares of google being able to put them out so if

SPEAKER_60: people wanted to create derivatives on it short it go long it they would be doing it against those

SPEAKER_205: shares and that person would get some upside in it is the way to think about it yeah you could say so

SPEAKER_114: yeah you know it's like a lot of these things that happen in crypto are just like new venues for

SPEAKER_105: doing finance and you sort of it's a new design space in the sense that anyone can write write a

SPEAKER_116: piece of code right and and figure out some way they want people to interact financially or enable

Jason Calacanis: people to interact financially what was your goal in creating dude like what's the what is the mission are you trying to decomplexify are you trying to make this more accessible are you trying to weed out you know signal from noise what's the mission yeah no the mission is to make crypto data

SPEAKER_105: accessible and as i alluded to initially i think previously historically so all data has basically been b2b or within companies or within a team it's all like very siloed you know it's produced in-house and and sort of analyzed in-house or you buy some data set from someone and what we have

SPEAKER_106: here for your first time is a public data set that's created by the blockchain that has a lot of interesting things going on in it right and i think that's a unique opportunity to build a different kind

SPEAKER_105: of data product and experience than what we've seen before because you get this sort of bottoms up you know grassroots uh dynamic where you know uniswap can't tell anyone to not look into their data like this is all on chain same with openc same with any product that built right and i think this is

SPEAKER_114: extremely liberating in the sense that you you don't have to be a you know vc and get a deck to

SPEAKER_106: to see what's happening here you know you use these products you can look at the actual traction the actual usage you can see how much money is this contract holding do i think it's safe or do i think you know it might be hacked because there's not enough money or it hasn't been enough money in it for a long enough time right these type of things um and i think that what's also exciting is that crypto is very evolutionary and it's an infrastructure that anyone can build on right but as i've shown you you can also see what products are getting what traction and i think that's also an extremely strong revolutionary for evolutionary force because i in in sort of the

SPEAKER_105: traditional world i might start a startup that someone did a year ago and it didn't work out and i wouldn't know but in this world i can actually go and see on chain okay someone deployed this smart contract and i can see they got this many users and then it died or you know here's a here's a

SPEAKER_106: category of lenders or exchanges or nft products and i can actually see okay how many users uh who's winning and how are they doing every single block and i can go and build a product that i think has better properties right um and so i think it's creating an insane velocity and evolutionary force that's just spinning so so fast um and it's extremely exciting for people building and it's extremely exciting for people wanting to participate invest engage um in this world because it's so radically open and compounding like anyone can you know we have a hundred plus thousand charts on you know already you can go look at all that and you can build on top of it and you can you know um

SPEAKER_218: engage with it without paying a single cent because it's the shared knowledge of anyone that ever looked

SPEAKER_219: into this yeah and your business model will be premium subscriptions there's no other model here

SPEAKER_200: just premium subscriptions people pay for the tool extra tools yeah essentially if you don't want to

SPEAKER_105: you know build something open if you don't want to um share it and also like of course over time like performance if you want very frequent refreshing of the data things like that very cool all right

SPEAKER_60: listen continue success with it it's brilliant and uh when you when you find a good report tip us off like if there's an interesting report that kind of informs a business story we'd love to hear about it i think it's absolutely fantastic what you're doing and more transparency and more insights is obviously better for an ecosystem that let's face it you know has challenges in that regard and i think

Jason Calacanis: you can help clean it up so yeah great job frederick hagga keeping it real and crypto thank you thank

SPEAKER_227: you thanks for having me hi everyone producer nick here i want to tell you about the sas syndicate if you're a founder of a sas company with a product and market our investment team wants to talk to you head over to the syndicate.com slash sas s-a-a-s to apply to raise from the sas syndicate and you can join jason syndicate of over 9 000 accredited investors at the syndicate.com

SPEAKER_228: producer justin here no cool startup check out openscouting.com where anyone can refer a startup to our investment team here at launch even if you don't know the founder if you're the first to flag a company for us and we decide to invest you'll get 5k in cash or 10 of our carry hey everybody

SPEAKER_232: producer rachel here are you an early stage startup that has product and market some traction and are looking to raise at least 500 000 apply today to remote demo day for your chance to pitch to over 9 000 investors in jason syndicate submit your application at remotedemoday.com our next event

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