The Wolf Of All Streets - Decentralize Everything: The Crypto Takeover of Social Media | James Heckman & Eyal Hertzog

Episode Date: May 19, 2024

James Heckman, an entrepreneur and media executive with decades of experience, and Eyal Hertzog, co-founder of Bancor and CEO of deWeb, are on a mission to dethrone social media giants with blockchain and give power back to the audience. Learn about the inner workings of social media and how these two plan to disrupt it. James Heckman: https://x.com/jamescheckman Eyal Hertzog: https://x.com/eyal ►► Sponsored by iTrust Capital Invest in Bitcoin, Crypto Assets & Gold with Your IRA Using iTrust Capital. 👉 https://bit.ly/itrust-scott ►► JOIN THE FREE WOLF DEN NEWSLETTER, DELIVERED EVERY WEEKDAY! 👉https://thewolfden.substack.com/ ►► The Arch Public Unleash algorithmic trading. Discover how algorithms used by hedge-funds are now accessible to traders looking for unparalleled insights and opportunities! 👉https://thearchpublic.com/ ►►OKX SIGN UP FOR AN OKX TRADING ACCOUNT THEN DEPOSIT & TRADE TO UNLOCK MYSTERY BOX REWARDS OF UP TO $60,000! 👉https://www.okx.com/join/SCOTTMELKER ►►TRADING ALPHA READY TO TRADE LIKE THE PROS? THE BEST TRADERS IN CRYPTO ARE RELYING ON THESE INDICATORS TO MAKE TRADES. Use code 'TENOFFSALE' for a 10% discount. 👉https://tradingalpha.io/?via=scottmelker ►►NGRAVE This is the coldest hardware wallet in the world and the only one that I personally use. 👉https://www.ngrave.io/?sca_ref=4531319.pgXuTYJlYd ►►NORD VPN GET EXCLUSIVE NORDVPN DEAL - 40% DISCOUNT! IT’S RISK-FREE WITH NORD’S 30-DAY MONEY-BACK GUARANTEE. PROTECT YOUR PRIVACY! 👉 https://nordvpn.com/WolfOfAllStreets Follow Scott Melker: Twitter: https://twitter.com/scottmelker Web: https://www.thewolfofallstreets.io Spotify: https://spoti.fi/30N5FDe Apple podcast: https://apple.co/3FASB2c #Bitcoin #Crypto #media Timestamps: 0:00 Intro 0:31 Media and innovation 3:03 Demonopolize 4:23 iTrustCapital 5:22 Blockchain role in social media 8:35 Web3 and capital 13:00 The project 16:00 Disrupting media 17:47 Miss World 20:30 Authentic voices 21:50 Censorship 25:40 Social media is fragmented 29:00 Monetary value of the audience 34:20 The coalition 37:00 Wrap up The views and opinions expressed here are solely my own and should in no way be interpreted as financial advice. This video was created for entertainment. Every investment and trading move involves risk. You should conduct your own research when making a decision. I am not a financial advisor. Nothing contained in this video constitutes or shall be construed as an offering of financial instruments or as investment advice or recommendations of an investment strategy or whether or not to "Buy," "Sell," or "Hold" an investment.

Money, beautiful women, and sports, right? Like everyone on this boat here right now, they've all built something from nothing. Trillion here. Billionaire's not cool anymore. They will crush you. Hey, no problem. Hey, do you mind if I lower your rev share by 10%?

Very honored to be here and announcing our program with you. Let's go. I think a good starting point for this is where we are and why. We're sitting on the back of a yacht in Dubai, beautiful weather behind us. The three of us weren't always crypto guys, and maybe you wouldn't describe yourself as one now. Can you talk a bit about your background and why you arrived at this point because pretty clear you could be doing anything right now. Like my partner Ayal here, I think our weakness is we're attracted to innovation, revolutionary thinking. I noticed over the past three decades the

people who move into a sector because they think they're going to get rich quick end up making no money and they end up not inventing anything right they're looking what someone else is doing and then they try to duplicate it and of course they're always late right but you know for me media has been the most interesting innovation in the last hundred years. Ultimately, whether it's making new governments, preventing or making war, building wealth, 100% of it comes from communication. You take over a country, it's not money, it's the voice to the people. You want to get out of tyranny, it's somehow figuring out voice to the people. You want to have your project or your company

go up in value, it's voice to the people. The venture dollars, the institutions, they don't lead, right? They might invest, but until the people say we believe you there's no wealth there's no value there's no new government there's no new change so you know i think you know where are we now i'll tell you where we are now um slowly media monopolies have come in and are controlling the message i remember my high school media class the theme was media is the message. And that's when there were three networks and it was really scary. Walter Conkright would determine what people think, right? We thought briefly that blogging kind of decentralized monopoly media. And then what happened, Silicon Valley grabbed all the platforms. And so they ended up

reasserting control and we're back to three networks, right? You know, so for me, I mean, I think if there's money to be made, I think that's a measure of success. You know, if the people validate a platform, then with mass scale comes mass monetization, right? And so, you know, my view has always been to demonopolize. My background, you know, I was in Seattle, Pagemaker invented digital publishing. My classmates were part of that company and it gave me a chance to create hundreds and hundreds of magazines efficiently. Then Microsoft was there, I was in Seattle, we built the first blogging platform called Rivals, which is the largest sports network. And we were successful against and actually passed ESPN

because we empowered individual journalists as opposed to one central newsroom, right? And then at Scout, we empowered people to sell subscriptions when the advertising model blew up. At Hulu, we helped major media companies resist the YouTube monopoly, which Spotify, you know, did as well because, you know, overcoming YouTube music and making, helping make you be, you know, successful. And so, you know, for me, monopoly is the scourge of the world. Demonopolization and an open marketplace where brilliance, like IL, flourish. If you can put together in a unified coalition, genius, not controlled, then you've got nuclear energy.

And I think we're in a pivotal moment for media, for government, for currency, and some of the greatest minds in the world are right here talking about it. Crypto investors in the United States face some major challenges. One of them is that there's almost no way to get exposure to the asset class inside of your traditional investment vehicles. The other thing is the taxes.

They are absolutely atrocious. What if I told you there was a way to solve both of these problems? Well, there is, and it's with a self-directed IRA from I trust capital guys Not only can you open a new self-directed IRA and fund it with the limits each year But you can actually convert over from your 401k your Roth IRA any other IRA that you already have and you can do that tax-free just transferring over the balance and then you can go to cash buy as Much Bitcoin than you want and not pay taxes when you sell it. You absolutely have to try this if you are in the United States.

Use the link down below. It's bit.ly slash itrust-scott. That's bit.ly slash itrust-seott. You have to try this now. So how did you find him? Or maybe you can tell the story. How did you find him? Or maybe you can tell the story. How did you find him? And what role do you play? Because a lot of what you just discussed sounds like the early ethos of

Bitcoiners and crypto people and the same mistrust or skepticism. And so it's a marriage made in heaven, but you need the right parts, as you said. Yeah. So we started talking two years ago and I think, you know, it was very clear from our first conversation that we're going to build stuff together. And I came to it, you know, being in crypto many years and being in social media since 98. I always didn't like the fact that it was a winner takes it all in social media as a founder of Metacafe that had to compete with YouTube and then seeing Google acquiring YouTube and essentially you know becoming the monopoly with really no place for a second place video platform just given the technology that was available at that time and when I I saw Bitcoin in 2011, I got so excited about the potential

of essentially demonopolizing those huge data services that were monopolized because they can only function if they control the data. And blockchain technology essentially allow data not to be controlled by a single corporation for the first time in history. So in 2020, the technology became so mature that I felt like really we can build a social network on the blockchain. And we did build it with, you know, an amazing team, a kind of a community Reddit-like platform.

But we found out the number one challenge is really getting the big numbers because the social networks were so closed and they would actually reduce the distribution of posts when they include the link to the outside. So you can even not use social networks in order to promote anything outside of it. And seeing this challenge and talking to James I was it was like a moment of enlightenment that there is all this potential there of huge media assets that are being used and accessed every

day and instead of you know creating a social platform for their users they're essentially sending their users to Twitter and to Facebook and to Instagram and essentially losing the connection with the users. They don't even have their email address. They're just becoming a promoter for social networks. And again, we didn't have any other choice until blockchain. But blockchain allows the social media to function where you can have many many different enclaves or I would say you know sites that all share the same data. So it doesn't need to be all on facebook.com or all on Twitter. It can be in many many different media assets but still be a single

social network with all the users and all the content can interact with each other and we saw a lot of potential of essentially merging our operation which is what we have recently done. I really hit it off in terms of you know how we see the world and I would say the amazing thing about web3 and and Bitcoin and so even though it's true, blockchain gives that opportunity, the amazing thing is capital, right? So, so many times in the world, you saw innovators in the car industry like DeLorean taken out by wealthy monopolies, right? And if you've seen the movie Tucker, you should watch. It's one of the greatest movies ever. He was 20 years ahead,

but capital crushed resistance, right? In the media industry, there was a radio roll-up and billions came in and rolled up every radio industry. In cable, there were hundreds of channels. And then huge Wall Street capital crushed the ability for individual cable news and different thought leaders. And in the end, it ended up with the three networks had all 250 channels and then eventually thousands of channels. And then we came with the internet

and we were both there, early innovators, me with blogging, him with video platforms. And capital came in and crushed, crushed innovation. And so you think about how Rockefellerian Google is. I mean, it's insane that our democracy doesn't see something that is so far beyond violation of the Sherman Antitrust Act. They control distribution. They control the customer data. They control the ad agencies, actually have people within the ad agencies making the decisions. They're an intermediary in between the ad agency, and then they control DFP, the actual

ad serving function at the supply level, right? And then they make it impossible for agencies to work for any more than 5%, which they don't want to spend more than 5% because they've been all been ditted down, bedded down to that margin. So Google tells them where they have to spend money. So when you have an ecosystem and ultimately that's all controlled by Wall Street, that's controlled by the investment banks who control the cap table with these major media companies. But what's amazing about Bitcoin is $3 trillion of value. When I say Bitcoin, Bitcoin's 1.2.

But I mean, I think the whole ecosystem is half is non-Bitcoin and half is Bitcoin. And if I'm wrong, you're the expert. But I think that's the number, right? Look, a trillion is not what it used to be, but it's enough. A trillion is over lunch now. I'm watching guys here. A trillion here. Billionaire is not cool anymore.

But I got to tell you, like we're doing a project. And when I was at Web 2, I had to get in an airplane, go to Silicon Valley and talk to people who've never run a business in their life and have them look down and be smug and decide where they're getting me money. Because they went to Stanford Business School and they got a friend from a buddy. Never invented anything in their life. It made me throw up in my mouth every time I was talking to somebody who'd never done anything about, hey, will you give me money?

Because capital is controlled by the hedge funds that put money into all the major Silicon Valley banks. Do you know how long it takes me to raise money for a project in Web3? Less than five seconds. As long as you and I just talked. By the way, they don't want contracts, they don't wanna go, you know,

have you do a PowerPoint, right? These guys know at the end of the day, it's the gut, it's the experience, it's the person behind it, and you give them a wallet, and that's the contract, I gave you the money, and I'll never give you a project again if it doesn't work, right?

But you can raise millions instantly because there's so much firepower. Right. And a person who's behind firepower meets somebody who also is behind firepower. They're like, yeah, I understand because all them took a risk and built the future. So the ecosystem of minds like everyone on this boat here right now have all built something from nothing, right? And so we're all investing in each other's projects. But we're not talking about $50,000, $100,000. People are deploying major capital behind real projects. And that's the breaking of the monopoly, right? And this is why they want CBDC.

And they don't want people to have currency not controlled by Wall Street. We can definitely go down that rabbit hole if we so desire. I want to stop. But before we do, I want to talk specifically then about what you're building and how you intend to disrupt this and why you're choosing to effectively cover this industry with a bridge between mainstream and I would say decentralized media. Because you're still coming from a place of mainstream media. You hate it, but you've owned half of it.

I hate myself. So yeah, so I'm curious exactly what you guys are building and how you intend to deliver the message that you're creating. Well, first off, it always starts with great technology. Bring an idea to market, especially, you know so well with probably your followers. Early innovation, if it's not adopted by youth,

it's not gonna work. If your 60, 70 year old father loves it, doesn't mean anything, right? If the rich guy who writes you the check likes it, they probably don't know. If you wanna find out if the product works, you need to have your 12 year old play with it. Now I've got five kids from six to mid-20s,

and when they lampoon my ideas, I'd rather hear it from them. Right. You've got, you know, kids the same age. But, you know, listen, his genius has been, you know, wonderful. And I think when I saw his product, I think what he was missing was bringing it mainstream. But the features are, you know, Twitter plus Reddit on steroids, Web3 enabled. I mean, just four years with an amazing team. And so we, you know, we've got relationships with, you know, look, gentlemen like you, great thought leaders, you know, the street, we're just announcing Miss World, the NHL, you know, is coming together in this project. We'll be rolling out hundreds of big clients. And I think if you try to fight Silicon Valley

and hope you go viral, he just described, they will crush you. When people start linking out to a new platform, they will cut those links off. When something goes viral and Google sees it, it will suffocate that as a search result. If you're not involved in their Rockefeller ecosystem, if they're not making money, if it's not part of that niche,

you're never going to go viral, right? They will suffocate even a great post. And so what we're doing is we're going to individual thought leaders, major brands who already have their own audience. They're not dependent on a Google. And pulling them together into a coalition. And then I would describe his social platform as enterprise level platform. Not hoping something's going to go viral when the market's fixed anyway. So not trying to come off as negative on that, but I think unleashing people who've already proven themselves in the marketplace to build a following by themselves with their brand, with their genius. You know, enabling that is really important and not hoping that Silicon Valley might accidentally let you slip through because it's never going to happen. Ever. Yeah.

So how do you actually do that then? There's been no lack of attempts within and outside of crypto, obviously, to disrupt the conglomerates of social media that exist. So it's a bold attempt. That's a great question. And I think, you know, one of the problem is that if you come to some influencer or social media and you tell them, hey, my platform which we did several times we find out that it's very very challenging because 90 percent of our users are not going to move outside of the social network with him with the influencer or um or or the you know whatever asset it is however when there is already a media site that is popular on its own, because it's got a lot of traffic, might be from Google News or from other social networks.

There's many established media sites that, for them, they don't need to leave a social network, which is the number one challenge with launching a new social network. You say, hey, you don't need to leave any... you keep your site but we add a social layer to your site to your media so people can read the article they can read what people think about it within the article they can they can see the comments there they can see other interesting posts on that subject matter there they can register and you will have their information, not through Google.

You don't need to pay in order to access your own customers. So when you integrate the experience to their assets, we think that there's a lot of potential to overcome the difficulties that I think a lot of Web3 socials are running into, trying to grab users from social network and tell them, hey, let's start something from scratch, which is very, very hard. Let me give you two examples. So we were just speaking with Miss World, who is one of the most beautiful women ever. She's also highly educated, and she has been in social media bringing her following over

the last 10 or 15 years of her life. When she tells all the people in the Czech Republic and all the young ladies out there who want to be like her, this is where you can find me, they'll find her. When you're talking on your show, if you're part of this coalition, for example, they're listening to you. You're not doing some marketing company to set links or anything like that. They're listening to your voice. Say, hey, look, I'm doing this now over here in addition to what you're doing. You've got the power and the trust and the relationship, authentic relationship, not paid for

relationship. Most media right now, they've given up and they literally write headlines. They have teams writing headlines to please Google so that as indentured servants, they can give a little bit of wheat back from the, from the wheat field that they grew up. You actually have a relationship. People believe in you and they trust, right? So we're going to meticulously work through various topics and sectors, starting with, you you know money and beautiful women it's probably not a bad place to start you're being intellectually honest yeah and we've got some huge sports announcements right

money beautiful women in sports right not a bad way to start and and the greatest leaders in those areas and and then I think people don't want to be I think told where to read and what to read. As much as we complain about this generation, I think they're disgusted by the status quo. Offering them the ability to listen to intellectual revolutionaries is a great opportunity that 20 years ago, like when we grew up, you know, if the brand was invalidated, we're not going to drink it. We're not going to drive it. We're not going to listen to it. And I remember, you know, Richard Nixon said, if I've lost Walter, I've lost the country.

Well, I hate that. Right? Ruin the nation. You know, I hope they listen to you. I hope they listen to him. I hope you listen to him. And make up their own mind. It's interesting.

It's clearly a pendulum. That ruined the nation. But I would argue that when the pendulum swung the other way and we got 24-7, everything's breaking news, even though it's not important, it swung completely the other way and everyone with an opinion became news. market cap, the way that Google and Instagram and Facebook and I would have to say, unfortunately, Twitter works is they amplify whatever makes people excited. Every link not clicked on is a lost financial opportunity for Zuckerberg. And so what we're doing is we're handpicking authentic voices, top professionals, experts. And I can live with that. If they say, hey, well, you're kind of reverse engineering censoring,

we're not censoring your fans, we're not censoring your voice, but we're picking people that I think are icons that people will look up to and respect. You can't sign up for this new platform. You can be invited. And I think, you know, intellectually we can handle that. And, you know, to let you loose, to go talk to your people. Censorship is a huge issue, which leads to deplatforming, right? We've seen a number

of the type of people that you're talking about who build a humongous audience. They've monetized that audience. It becomes effectively what they do for a living, then the platform cuts them off, gone. Those fans never port, right, because they were on that platform. You don't have their emails, you don't have their phone numbers, you can't move them. So if you're a layer on top of these other social media platforms, how would you fight deplatforming by those platforms? Which we're not. Right? Right.

And, you know, so how do you how do you solve that problem? I think that the problem with censorship is really a problem of monopoly of censorship. So there's no problem with censorship if it's not monopolized. Actually one can call it moderation. For example, this is what a lot of internet service providers are doing today. Some of them will censor porn or censor fishing sites or send it for you as a service.

They will actually charge you for that. The reason that we never had an issue of ISPs censorship discussed in Congress is because it's not monopolized. So people have choice. And if people can choose who is their sensor or moderator there's no problem it's become valuable it's become a service what we're suffering today from is the fact that we really have as he said three platforms that manage human communication 1

billion people spending 3.5 hours a day on platforms that are controlled by a very small group of people that decide what can be and cannot be on this platform. And if you're not there, you're like, you don't exist. And that's way too much power to be centralized in a single place. And we should not be surprised that we saw governments go all over that and the Twitter files, all of that, because this is really a center of power that no one can resist to try to control.

But when you don't have that monopoly, just one person deciding what goes and what's not, even if Elon Musk comes and saves the day on Twitter, it's still a one person deciding what goes and what's not. When you break up that paradigm, then I think you're moving to the next generation. To give him a little bit of credit and to answer your question tactically, specifically, he said they don't port over. OK, the reason they don't port over is because the monopoly controls the data.

And what IELTS built is a web3 database. And so let's say that you build up a hundred thousand users on your platform that you control on roundtable, on RTB. You got all their email addresses, you got their phone number, they're your data, you own them forever, it's yours. I can't shut, right? You can port them over. You can communicate with them directly. I'm going here. Try to move your Instagram followers out. They're not even aware you're gone. You're just going to disappear. And we saw some of the, you know, some of the doctors during the COVID thing and, you know, double PhD MDs would publish research, you know, after treating 10,000 patients. It didn't connect with the FDA narrative. And so the doctor disappeared off Twitter and his data.

He couldn't even reach the people who had been following him. He'd been having conversations with thousands of doctors who were sharing data. It disappeared in the mist. IELTS built a system so that if we ever become tyrannical and hard to deal with, which I'm sure we will be, you own that data. It's forever on the blockchain. Am I…? Exactly. Exactly. When the data is public, it cannot be controlled. And this is social media. It's not supposed to be private. When I publish something on social media, I publish

it to the world. What reason do I have to give it to a specific? Company that will control and all the data that I want the entire world to see it's just the only reason that we had to Do it is technological because we did not have the technology for what I like to call a public database But guess what now we do and it's time to move on it's like before the internet what do we have we had a lot of data network information network that were just you know simple separated networks with users that cannot communicate with each other this is where social media is today just separate networks of users and content that simply cannot communicate with each other and what we're trying to do here is, I like to call it,

internetization of social media. Just like the internet says, no more private social, no more private data network. We are all one single big data network, and we all saw what happened because of that. It's quite remarkable. Just imagine what will happen if you take this potential that today billions of people are using for so much of their time and you

unleash it and you're saying now it's all open and all connected. To anticipate the negative side of this, you still protect privacy of individuals on our platform. Of course, of course. I just want to be clear. This has nothing to do with sharing your email to the world. It's not about your personal information. It's about sharing the media that you want to share to the world in a way that no one can decide otherwise. But he, as the owner of his own platform, and we hope to be working with you, he is able to keep that customer data if he wants to go, you know, move it to Telegram or he wants to go, you know, have an email list. And so I just, you know,

just explaining the platform. It's the customer data, which is one of the things. And the other thing is the media itself. Because when you're censored, you lose both. You lose both access to your customers and all the media that you posted that is just not accessible, which makes no sense in the technology of the world that we live in right now. I've had both of those things happen to me. So in my music career, I was known for remixing and sampling, and SoundCloud removed all of my content, which is where all of my music was, which then removed the widgets that were embedded in every music blog in the world

because of a Beatles sample. I should have known better. And you lost everything. Everything. Never to be recovered. It was effectively the end of my music career. And on Instagram, you know how if you're in crypto, you have thousands of imposters, naturally.

An imposter created an account that looked like me, reported me as a fake, got me removed, and then my actual name was given away. So I've experienced both of these things on some level in my career, and I can tell you there was nothing to be done about it, period. With your platform, 0.000% data loss for him in that case. He would have no data loss. I like to say that our platform is like a browser between the user and the data that is on the blockchain. And tomorrow, you can build your own browser.

If you're a good programmer, you can build an app for your users that access all the data that is on-chain. You don't need us. Of course, we're making it much easier for everyone to do, but we're not monopolizing this space. And that's the big difference. Just like an internet service provider, you don't need us. Of course, we're making it much easier for everyone to do, but we're not monopolizing this space. And that's the big difference. Just like an internet service provider. You don't like your internet service provider, you switch, you get the same internet. Right.

It's not a different internet. And it's somehow not obvious to us that that's how it should work in social networks. Another issue for content creators, I think, is that they not only feel like their audience is trapped or they're trapped on a platform but they feel like they're taking advantage of as far as monetization. They don't really get to capture the value. So when you're wooing a Miss World or the NHL or one of these others what's the angle for them to actually capture the monetary value of their audience? I think this has to do with a very important point of price discovery. When you are a monopoly, there's no price discovery for the value of your service.

If I'm YouTube, I can charge as much as I want. You have no choice. You cannot go to YouTube 2 and publish through them. What happens when you open up a platform and you make it public, that you actually create a market condition that allows price discovery. Someone will say, you know what, when I work with this provider, he's taking too much fees, so I'm going to switch to that provider who's taking more reasonable fees because guess what, they can both access the same data. And that's what

this technology enables. It enables consumer choice, which enables price discovery, which I think enables evolution because evolution is driven by the ability of people to choose between different providers and not being locked to a single provider that doesn't really have an incentive to improve because he has a captive audience. Why would he work so hard to improve? I'm going to put my monopoly hat on a little bit as an ex NFL, Yahoo, and Fox exec. I think the word curation is okay. Monopolies tend to commoditize content creators by having a portfolio of millions. If you quit tomorrow, you're not going to get a call from Dan Eck on Spotify.

Oh, we lost you. And because they have been able to aggregate millions of contributors on Spotify, Dan knows that he can continue to lower your revenue share until he feels an actual shift in anger. But Uber, you talk to those Uber drivers, it's terrible, right? They've commoditized Uber drivers where they're basically working for slave wages now. They just kept going down, down, down, down, down, down, down. YouTube, they obviously have never been transparent about their revenue, to start. They say it's a certain percent, which is a lie. And then they say, oh, but we cover our expenses. And then you get this

rough expense, which is total bullshit. What they do is they take an allocation of their overall OPEX, which they embed into their COGSgs and so they're not kind of lying say oh well here's our cost well i'm not paying for your investment costs your engineering costs and everything you're an incremental cost of a micro cent of bandwidth to them the incremental cost of you going onto youtube is nothing from a material standpoint. And yet they're allocating their cost to you and then they're giving you an unfair rev share. It is 1933 Ukrainian peasantry. Send all the grain to Moscow and maybe we'll let you have some of the chaff. I mean, it's ridiculous.

So what I would say, I'm so sorry for not taking a breath, but if you can, in a coalition, in a non-controlled decentralized coalition, all work together to consolidate reach. And because we curate premium, if you're GM, E-Trade, AT&T, you actually don't want your brand in an uncontrolled environment because brand value equals authenticity. And if it makes you look good being associated with AT&T and AT&T associated because you're so smart, Scott, that's a perfect harmony. But if we curate and we bring major brands to major media brands in a one-place shop, and we're transparent about the revenue, and you can leave and pick up and leave. We don't have you captured. I can't give you a career-suffocating rev share. Or guess what?

I kill you, right? That's not a way to negotiate. Hey, no problem. Hey, do you mind if I lower your rev share by 10%? You die if you don't agree. Like, come on. Yep. And interestingly, I'm shocked at this point

that anybody advertises on these mainstream social platforms anyways. I can tell you what I see anecdotally. Twitter, you know Obviously, when Musk took over, there were a lot of companies that took issue with what kind of tweets they were being advertised below, whether it was something political, war, violence. You don't have the control, as you said. So of course, an advertiser would want to be with something where they know exactly who they're going to see and what they're going to be on. On YouTube, if you post crypto content, which is why I've removed monetization entirely from my platform, I started to watch my own content and every commercial was

either Brad Garlinghouse, Michael Saylor, or someone else doing a deep fake telling people to send them crypto. This is the monetization of the crypto YouTube channels that's supposed to be advertisers running a four or five second commercial and it's a literal scam with Michael Saylor's mouth moving for AI. There's Elon Musk, there's Mark Zuckerberg, they're all promoting Forex platform apparently. So what's the timeframe on saving the world here? So we're launching some of our first projects. We're really excited about Miss World. Their television program,

three times bigger than the Super Bowl. The aggregation of the number one woman representing 140 nations. They each have their own micro ecosystem. There's a competition with the top 100 from the Czech Republic who all have their own ecosystems. They're gonna run a virtual pageant on our platform with these amazing women reaching the people who love them and then a winner and then they're competing with 140. I mean we we all know that, you know, women like this

know how to reach, you know, their followers. And so they're going to take this platform over and go crazy. It's premium. It's pristine. This is one of the oldest brands in media in this world. Their ownership is privately held. And so they're going to make sure that they represent Roundtable, RTB, you know, well, we've we've dove in deep into crypto. But I think the problem is, is that the media companies have been tiny cults speaking to each other and all their jargon and hey, I'm an L2, blah, blah, blah, blah. Nobody knows what that is. Right. 90 percent of investors who have a million dollar plus portfolio, they know about Bitcoin, may have heard about Ethereum and what's this having thing.

So I think, you know, welcoming somebody like you into an ecosystem of other thought leaders. So the coalition brings enough people and then taking the amazing brand that Jim Cramer founded, you know, 30 years ago, the street.com and having a, uh, again, bringing professionals like you to be able to reach, you know, over 30 million investors on the street and our syndication partners, the scales there, the qualities there, the brand is there existing brands already on the street, you know, major financial brands. It makes it real overnight. It makes it real overnight. And then, you know, again, I think these amazing women,

these amazing thought leaders in finance, currency, and economics is a great combination. And then we've got some sports announcements coming soon. Yeah, I think it's very clear that it required the right team to do it. I asked before why these other social media platforms have failed. They could have been great ideas, but the clicks and eyeballs would never be there without the top of funnel that you just described. Well, it takes great minds like yours and others to come together and have built that

authenticity over the years. If you were a scammer, you wouldn't have the amazing following that you have now. And being here at this conference and seeing some of the brilliant investors and innovators and, you know, all know you and I've been listening to some of the conversations. So very honored to be here and announcing our program with you. Thank you, guys. Absolutely a pleasure. I'm going to go change my shirt for him. Got to go shopping. We are in Dubai. It's the biggest mall in the world right over there. Amazing.

Amazing. No shortage of expensive brands that they're charging double for. Absolutely. Thank you, guys. Let's go.