Speaker unverified: commitment

Transcript context

…Which it turns out may actually be pretty good advice. I should be more succinct. Anytime there's a paradigm shift, it requires a leap of faith to become a true believer in the new thing. The earliest people that have to do that, there's the most upside for them because they get to be early to that thing which could accrue them reputation or actual shares and whatever the new thing is, but it requires that leap. So it's really easy when you are someone who's looking around and seeing other people become awakened to this new thing to have some shyster convince you that, oh, you should just become awakened to my new thing too. That looks a lot like the legit awakening that's going on with other people that's paying big dividends for them. Right, and I get that. I think that you have to ask your question—this is happening in the NFT spaces as well—what are the real motivations of this project? So I will certainly miss some things that started off as a joke, eventually had real legs to them, and evolved into a place where they are innovating in some interesting capacity. That means multibillion-dollar kind of ideas out of a joke. That will happen. Communities will form and they will evolve and make something that is more than just that initial kind of hype cycle that happens that we see a lot. For me, when I evaluate new cryptocurrency projects, I always look through the lens of, is there a use case here that needs to be solved that this company is going out and solving? Is it a credible team behind it? And is there a discussion of price appreciation? Is that the main topic? Because the easiest way to see through a scam is to look at what are people talking about? Are people talking about the mooning of the coin, the price going up? Or are they talking about why the underlying technology and what is being built are so important for the future of the world? And if the conversation is around making money, there's a good chance you're in something that is going to be some type of pump and dump where eventually this has the bottom fall out from underneath it. That's how I try to evaluate things. It's part of why I want to start focusing and having more NFT-related content is because there's a lot of that happening in the NFT spaces as well now. It's like anyone armed with Photoshop can instantly churn out 10,000 characters with different glasses, hats, goggles, and all that other stuff. People call it aping into something where you just go all in. People see this and they ape into something, and a community can be built around that. You can have some serious growth there. But I worry about the long-term durability of these projects. Is there going to be so many of them that they just seem all copycats and clones? For me, that means I'm very selective about which investments I place there and I do consider them investments. You're talking about when you personally buy an NFT?…

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