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Bitcoin Faces a Global Market Bloodbath — Transcript

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0:02Welcome back
0:05to Cryptos Are Us. I'm George.
0:08We're all George. Welcome to another
0:11market open stream.
0:14Happy Friday. Is today going to be a
0:16better day
0:18than yesterday? Yesterday was a brutal,
0:22brutal red day. US markets fell like I
0:26haven't seen in years. Crypto fell down
0:31and we're facing a global market
0:35bloodbath. But is today better day?
0:39Let's discuss. All right, let's do it
0:43guys. Welcome, welcome, welcome.
0:48So, we are starting out a day
0:49unfortunately with Bitcoin down over 5%
0:53versus yesterday's number.
0:56So, we're at 75,000 right now and a lot
0:58of alts are bleeding. ETH is at 2,200.
1:04Uh, Soul is right under 90
1:08and then uh you got Sooie at 86. XRP
1:12down almost 10% from yesterday 118. But
1:16today the US market is looking stronger.
1:21Uh you could see that
1:24we are plus 200 for NASDAQ at least.
1:28There's a little bit of buying.
1:30Yesterday was just absolutely horrible.
1:32Overall, tech has been selling off like
1:34crazy. And yesterday just escalated.
1:37There was just way too much FOMO and I
1:39mean, yeah, FOMO in the wrong direction.
1:41Panic dumping. But normally when you
1:44have a large correction like this and it
1:47bottoms, especially for tech,
1:49it recovers and it's a really good
1:52buying opportunity. It's just uh it's
1:55hard to time,
1:57right? A lot of people are looking for
1:59that bottom like the absolute moment
2:02where it bottoms and bounces is hard to
2:04time. Yesterday could have been that
2:06day. Maybe we have a few more days like
2:08that before we finally find bottom. But
2:10basically all the gains from the last
2:12like six months were wiped out within
2:16the last few weeks. But today we are
2:19bouncing a little bit. Uh and we got
2:22good economic data which actually isn't
2:25what we want.
2:28Uh economy added a lot more jobs than
2:31expected last month. 165,000 versus like
2:33it was 80 something anticipated. And
2:36then unemployment slips down to 4.1 from
2:384.2.
2:41This is good as a nation but bad for
2:44lowering interest rates uh lowering the
2:46Fed fund rate because we were actually
2:49you know we're trying to put some
2:51pressure on the Fed
2:54and uh this doesn't put pressure on the
2:56Fed. You know if if the economy was
2:58suffering and then we had high inflation
3:01you know it it makes them choose right
3:03and they normally choose to save jobs
3:05and save the economy. But if the economy
3:07is actually recovering, then they don't
3:08have to do that. They just concentrate
3:10on inflation and that leads to more rate
3:14hikes. That's not what we want. You have
3:19this one uh Fed president says uh hikes
3:24ahead but at a gradual pace.
3:27See, that's not what we want. That's not
3:30what we want at all. Right now in
3:32December,
3:34it's gotten a little better. Hike is at
3:3661%. Hold is 31%. It it was way higher
3:41for Hike. So, we're starting to climb up
3:43with the markets falling. It does help a
3:45little bit, but what more people are
3:49expecting and hoping and pushing for at
3:52this point is the end of the war to stop
3:55the war. If you stop the war, oil prices
3:59will slowly gradually come down. Just
4:01like when we had ceasefire a few months
4:03ago, when we had the ceasefire, oil
4:06dropped dramatically down to pre pre-war
4:09levels. So oil could come down really
4:12quickly.
4:15So this is what people are looking
4:16forward to. If we stop the war or end
4:19the war or pull out or whatever,
4:23oil prices come down, things stabilize,
4:28okay? then we don't have to force the
4:30Fed to raise rates and then 2027
4:36it could completely change.
4:38I think that's the new that's the new
4:40thing, right? That's that's what most
4:42people are pushing for. Uh don't know if
4:46that's actually going to happen.
4:49I actually don't you know a lot of
4:51people just overlook it. I guess because
4:53Congress couldn't push anything through
4:55because Republicans were controlling the
4:57Senate side, but as acting president,
5:00your war powers, right, only give you
5:02like 60 or 90 days and that and that
5:04expired already. So, I don't even know
5:06how the war is continuing
5:10because normally speaking, if you
5:12declare war, you have to get approval
5:13from Congress and Trump didn't do that.
5:16So, I don't know how it's continuing. I
5:18guess no one stopped it because they
5:20couldn't vote to stop it. But I'm pretty
5:22sure Congress is already working hard to
5:28figure out how to end the war.
5:32And uh so this may be forced upon soon.
5:35I don't know. I don't know if there's uh
5:37more to it than that. But yeah, that
5:42that is what the number one thing e even
5:46Vance and Rubio and Trump, they all
5:49admitted that the Republicans lost the
5:51primary, the not primary, the midterms
5:54because
5:56people don't understand the war. They
5:58don't like it. it has caused things to
6:00go up in price and people still don't
6:04understand why we have this reliance uh
6:06wi with uh with Israel and why we're
6:09paying them billions of dollars and a
6:11lot of people see this war as a way to
6:14help Israel like not sure why
6:18we're doing all that when we got our own
6:20problems here statewide right like that
6:22the these are the big questions and no
6:24one has been able to really answer or
6:28clarify Okay. Uh, all right. So, outside
6:31of this, what else? Uh, obviously AI,
6:34meltdown, tech selloff, you have Nvidia,
6:38Qualcomm, Micron, SanDisk, Dell, HP, you
6:43name it.
6:44They all fell hard yesterday and even
6:48harder the last few weeks. So,
6:50basically, all the gains that they had
6:51in the last six months wiped out
6:53completely. But that could be a good
6:55thing. So, if you missed
6:58If you missed all that, the rise up, now
7:02is your chance to get back in again
7:05or get in for a first time, I should
7:06say. Um, so there's a lot of talk. Why
7:10is this all happening? There's a lot of
7:12talks about how Democrats don't like
7:16data centers. They're going to try to
7:18slow down growth. A lot of states like
7:21Texas
7:23was like
7:25was the growth center for data centers
7:27and now people are afraid that well
7:28Texas now the blue they're going to stop
7:31it they're going to halt all this
7:34momentum and that's why there's this all
7:37this fear right but Texas did say
7:39they're not going to stop any contracts
7:40that's already in place for 2027 2028 so
7:44at least we have that but afterwards who
7:46knows what's going to happen
7:48and I saw all this ING, which is a big
7:52bank out there, is trying to actually
7:53sell off their $500 million worth of
7:56debt from some of these big AI
7:58companies. So, they're trying to delever
8:01the risk at this point, right? So,
8:02anyways, when you hear about this, it
8:04doesn't sound very good.
8:09So, there's that. But again, I I've been
8:11making this point. I think it's there's
8:14too much fear, too much panic selling.
8:16Everything's too oversold. And that's
8:19what happens with market corrections. It
8:21always goes to the extreme. These
8:23companies are still doing fine. They're
8:24making money hand over fist. AI is not
8:26going to go away anytime soon and
8:28they're only growing. And you can't just
8:31ignore it. You can't just ignore and
8:32say, "Well, we're just going to stop a
8:34building data centers and that's it. You
8:36know, that's going to stop
8:37advancements." No, because other
8:38countries will continue to push forward
8:40like China
8:42and then we're going to fall behind. And
8:44AI is the one category you don't want to
8:47fall behind with, right? You can fall
8:49behind a lot of things and be fine.
8:51Military is probably not one of them,
8:53but AI is certainly not one because
8:55whoever dominates AI, whoever controls
8:58the frontier models basically wins,
9:03right? So, I hope people in Congress
9:05people
9:07understand that we can't lose the AI
9:10race. We really can't. We can't afford
9:12to lose. That may be the last war we
9:15ever lose if we lose that war.
9:20Uh outside of that global meltdown
9:23everywhere,
9:25bloodbath everywhere. Look at all these
9:27countries that are now in bare market
9:31territory. And I think the US is also at
9:34least for NASDAQ.
9:36But I mean you got UAE, you got China in
9:40here, uh Japan,
9:43Brazil, Taiwan,
9:46you got all these countries, right? So
9:50this is what the world is facing right
9:52now. Not just the US, worldwide selloff.
9:56A lot of panic selling at this point.
10:07Yep.
10:08Now, as for Bitcoin and crypto, what
10:13does uh what does this have to relate?
10:15Well, obviously, when you have this uh
10:17panic selloff, a lot of people, a lot of
10:21funds, a lot of institutions
10:24are selling off because they're just
10:26scared. They're they're led by humans.
10:28And as smart as these guys are supposed
10:31to be, a lot of time they just react
10:33with market news like the rest of us.
10:35Honestly, now that I've been studying
10:38the markets more over the last few
10:40years, not just not just about Bitcoin
10:42and crypto, but just looking at markets
10:44overall and sentiment and how rates and
10:47and uh and markets move and how our
10:51financial system works. You put it all
10:52together and you just watch it,
10:57you come to realize that a lot of these
10:58guys are just no smarter than you or I.
11:01They're just reacting to news. If they
11:04see everyone else selling, they just
11:06join in on the fun. They see everyone
11:08else buying, they join in on the FOMO.
11:11Sometimes it just comes down to that.
11:13That's why if you look at a lot of these
11:15funds, you go back and look at how these
11:18funds have performed. Some of the
11:20largest hedge funds out there, they have
11:24performed no better than just buying the
11:26S&P 500. And certainly not better than
11:28just buying and holding Bitcoin.
11:31So, are they really that smart?
11:34I don't know. They know a lot of fancy
11:36terms, but they fall for their emotion
11:39just like everyone else. Um, and I feel
11:42like that's just exactly, you know,
11:45exactly uh what's happening right now.
11:47You got a lot of people that are scared,
11:51okay? Anticipation of pain is worse than
11:53pain itself and they're trying to
11:55protect their portfolio. And in most
11:57cases, when you make rash moves, you
12:01lose. You lose money or you lose the
12:03underlying thing that you're selling.
12:05Uh, and I think we're going to see a lot
12:07more of that as we recover upwards. But
12:11uh yesterday we did have a minus430
12:13million day. That kind of proves that
12:15point. You have a lot of people that are
12:18just selling off right now. If you look
12:19at liquidity is even worse. I haven't
12:21looked at liquidity for a while. Uh
12:23minus 1.1 billion just from yesterday
12:26alone.
12:30In one single day, people pulled out
12:321.15 billion in stable coins. in the
12:35last seven days even worse 5.53 billion.
12:39So there are a lot of people that are
12:42panic selling trying to you know delever
12:46and make cash which is fine if you don't
12:48have cash. I know how important that is.
12:51That's actually a good reason. But if
12:53you're doing it just because you're
12:54trying to outsmart the market, you're
12:56trying to trade, you think you're going
12:58to time the bottom, it's not going to
13:02work out. It never does. So, don't do
13:05that. But if you need it because hey,
13:07you need to pay the bills, that's a
13:09different story, right? All right.
13:12Outside of that, uh 1.15 billion in
13:16leverage wrecked last night. It was even
13:19more when I did my videos, was like 1.3
13:21billion or something. Uh still clearing
13:23out a lot of leverage. Okay. And this
13:26doesn't help the situation.
13:28you know, whenever we get stuck between
13:30a range and there's not a lot of buying
13:32pressure or selling pressure, we kind of
13:35just hover in that range and liquidation
13:38just I think contributes to that because
13:42you get a lot of people from one side or
13:44another that just keeps on getting
13:46liquidated and we go nowhere fast.
13:48That's an 1.15 billion.
13:51Had they just held
13:55and not played with leverage, they'll be
13:57fine. They there will be 1.15 billion
14:01more in the market right now.
14:06So just think about that.
14:09Just think about that.
14:11All right. Uh last few things.
14:16Uh, this shows a lot of sell pressure
14:20from Binance and Coinbase.
14:24Well, again, this goes to what I was
14:26saying. A lot of these people are panic
14:28selling because
14:30because they're fearful and fear spreads
14:34quickly, faster than maybe even FOMO. I
14:38don't know what's what spreads faster,
14:40fear or FOMO. probably fear.
14:44But keep in mind, like I said, I think
14:47there's just too much panic right now.
14:49And every single time,
14:52we do have a major correction.
14:55What happens? We find a footing, we find
14:58a bottom, and then recover, and then we
15:00make a new high. Has always been like
15:03that. Even throughout all the crypto
15:05winters that we have gone through, every
15:08single time
15:10that's what happens. You may have to
15:13wait a while,
15:15but eventually we come back up
15:21and someone found this. This looks
15:23almost identical to what happened in
15:262022
15:27when we found that bottom at 15,000,
15:30right? We did these weird
15:33weird
15:35moves where we kind of recovered, went
15:38down, then went down a little bit lower,
15:40then recovered, went down, and then we
15:43started heading higher.
15:46It looks almost identical at this point.
15:53So, keep that in mind.
15:57All right.
16:00That's pretty much it today. NASDAQ is
16:03gaining some strength, some buying,
16:06going back into some of the decimated
16:08stocks yesterday. Like AMD was down like
16:1120% or something yesterday, like
16:13something ridiculous. Now they're up
16:1513%. It doesn't make up for how much
16:17they went down. It's like halfway, but
16:19it's something. Micron, look at that.
16:21Look, look at how fel how much it fell.
16:23Now it's just barely up 10%. It needs to
16:26go up like 50% to even go back to where
16:29it was. Uh Sandis, Dell, you know, look
16:33today hardly registers because that's
16:36how brutal yesterday was. It it doesn't
16:38even show up, right? But it's a start.
16:41People are recognizing that, hey, maybe
16:45markets are too oversold.
16:47Maybe this is a good time to be buying,
16:51right? Because you really can't time
16:52bottom. The best way to do it is DCA. If
16:55you buy a little now, which isn't a bad
16:56idea, and then next week we go down
16:59further, it's okay. You buy more. You're
17:01dollar cost averaging. You're bringing
17:02your average down. And then when you
17:05recover, you're golden.
17:08All right, let's do some Q&A.
17:37Not sure if CMDC reported as Revolt Bank
17:40swaps clock code for self-hosted Chinese
17:42open way model cutting AI bill by 90%. A
17:45lot of people it's not just them.
17:47Microsoft
17:49added it. um
17:53not GitHub but co-pilot like yeah I mean
17:56it could save a lot of normal things
17:59don't require frontier models okay that
18:01that's the honest truth if you're just
18:03doing it for like normal number
18:05crunching and stuff you don't need
18:06frontier models but you need frontier
18:09models when it comes to a very intensive
18:12stuff if you're trying to plan a war
18:16uh yeah if you want to solve math
18:18equations that haven't been solved in 60
18:20or 90 years. Yeah, you need frontier
18:22models for that. Um, even gaming like
18:25right now what I'm doing with uh
18:28Frontline and Clash World, I need
18:30frontier models. 3D modeling is very
18:33intensive
18:35to calculate how all these triangles and
18:38pixels and textures and shaders, how
18:41they work together to look good to
18:44simulate a 3D world.
18:47It takes a lot of intelligence. And this
18:49lower four models just can't do it.
18:51They're getting better, but
18:54still
18:56not quite there yet.
19:01We do not need Gary Gunler back. No,
19:04that's not
19:06that's not what we want.
19:09Uh despite the conditions we're in right
19:12now, you got to look at it from the
19:15glass half full side. Okay, we have very
19:18pro- crypto
19:20SEC, CFTC, Treasury, and President
19:26and they're going to keep pushing
19:27forward and that's a good thing as long
19:30as they don't allow corruption to keep
19:31happening,
19:33which mainly everyone's looking at the
19:35Trump family now. Um, but outside of
19:39that, we're going to have, you know,
19:42this nation is going to foster really
19:44good innovation going forward. and I
19:46welcome it and I look forward to it.
19:49Okay, but
19:52just got to make sure that another like
19:54FTX moment doesn't happen. Uh we had
19:57Binance happen. If Binance didn't have
20:00the funds and they collapse,
20:03man, we would be at like 30,000 Bitcoin
20:05right now. Um but luckily it happened to
20:09exchange that could cover
20:12and they kind of squashed the fears, so
20:14that's good. But
20:17if it happens to a lower exchange just
20:20as big and you know they weren't able to
20:22recover then
20:25uh it would be really bad. But even when
20:27that happens we saw it happen with FTX
20:30with Mount Gaus with some of these
20:32bigger exchanges. It gets really bad for
20:34a while and then we recover back up
20:36because nothing can stop this train. It
20:39has it's a moving train that is
20:42unstoppable at this point. Even if it
20:45gets derailed,
20:48okay, it'll just continue back up.
21:02Ake says, "I really like your concise
21:04breakdown why inflation won't ever go
21:06down."
21:07Yeah, it won't ever go down. when the
21:10money supply
21:13grew by 30% then everything got 30% at
21:16least 30% more expensive so that will
21:18never go away and the Fed has always
21:20said they like to maintain a 2 to 3%
21:23inflation rate
21:25um so they will always try to maintain a
21:292 to 3% inflation rate they will never
21:31say we're going we're going to like
21:35maintain a 0% inflation rate um there's
21:38probably some smart reason for why that
21:40is. I guess you you want to distribute
21:44money to help grow the economy in some
21:47way. I I don't quite understand why you
21:49do need to actually have a set two to 3%
21:52inflation rate. There's some bigger
21:54purpose to that. So, I'll have to I'll
21:57have to look at it. But
22:00when the money supply grows, I mean,
22:02just look at it. If you don't even think
22:04about money, just think about anything
22:05else that that's out there, right? Let's
22:08say
22:11uh I don't know, you got a you got a
22:14very limited group of
22:18uh cards, sports cards, basketball,
22:21football cards, or limited group of
22:24Pokemon. They're rare because I mean
22:27they're they're priced high because
22:29they're rare because there's only
22:31certain amount. Now take that certain
22:34amount. Maybe there's 10 in the world or
22:36there's 30 in the world or a thousand in
22:38the world. Now you inflate it by 30%. A
22:42th00and becomes 1300. 10 becomes 13. Do
22:46you think that's going to increase the
22:48price of those goods or collectibles or
22:51items? No. It's going to decrease them
22:54dramatically. That's what happened with
22:56money.
22:58Our our money supply went up by 30%. So
23:02obviously
23:03that devalues all the other money that's
23:06in circulation and that is why things
23:10got more expensive
23:12because money itself became less
23:15valuable. So everything got more
23:18expensive to make up for it. That's what
23:21inflation is. It's it's sometimes hard
23:24to understand but if you think about it
23:26that's you know just think about in
23:27terms of items rather than money and
23:30then and then it becomes much more
23:32clear.
23:43I did post some new new photos in
23:45Discord
23:47on Frontline of my first person shooter
23:51game. Um, so I've been making a move to
23:54to ported to Unreal Engine and things
23:56look damn good. I mean, just look at how
23:58good that looks. It's going to look like
24:01a real AAA studio game. Still still
24:05improving upon it. Added some more
24:08pictures today. It's going to be damn
24:11good when it's done.
24:17So, just FYI,
24:25I should get this done hopefully by this
24:28weekend. So, you could still play. One
24:30of the great things about Front Line is
24:31it's a it's a browser based game. So,
24:34you could play it on any computer. You
24:36just had to do a small download, but you
24:38buy any computer right away. Graphics
24:40are decent and the mechanics and
24:42everything is really good. But once I
24:45get the Unreal Engine out, man, then
24:47this becomes a really good AAA game. I
24:51might even be able to like put on Steam
24:53and stuff and uh and get more attention
24:56that way. So, both versions will be able
24:59to play each other. They'll be on
25:01basically one server still. So, um, it's
25:05going to be it's going to be really
25:07good. But this is what I'm talking
25:08about. You use an inferior model and
25:10they can't they can't do this. They they
25:12they just can't process things. Now,
25:15this isn't perfect, but I know, but if
25:18you use like inferior model, um, it just
25:22the results are just way worse. Way
25:24worse.
25:49I don't get people's hatred of data
25:51centers.
25:53I don't I honestly I don't get it
25:55either. I I don't know why. Like data
25:58centers are normally just housed in like
26:01uh
26:03commercial areas or uh you know
26:05warehouse areas.
26:08when when you're outside, you don't hear
26:09any more noise. It's not like it's super
26:11noisy. Um, I think there's a lot of
26:14concerns about like water usage, which
26:16is now no longer really a thing,
26:19electricity usage, which is it which is
26:21true, but a lot of these data centers,
26:24at least the AI ones, they're paying to
26:27upgrade the energy infrastructure.
26:30They're not just building out the data
26:31center. They're upgrading. This is the
26:34same argument before people hated
26:36Bitcoin mining,
26:38right? All these states still hate it.
26:40They don't want Bitcoin miners because
26:43they're afraid that there's not enough
26:45electricity in the grid. But what
26:48Bitcoin mining has done is upgraded a
26:51lot of these towns that they're in with
26:53better infrastructure.
26:55That's what these data centers, it's the
26:57same principle. I bet these data centers
26:59don't even take as much energy as
27:01Bitcoin mining facilities, which take a
27:04lot more.
27:06I guess it depends on the size and
27:08stuff, but still,
27:10uh, Bitcoin mining is extremely energy
27:13intensive,
27:15but it's the same thing. It's like I get
27:17it if they're building like a data
27:18center in your backyard in a residential
27:21area that no one wants to see that. But
27:24if it's in the middle of a commercial
27:25area among all these other warehouses,
27:29you don't even notice.
27:31Like I see a lot of Amazon warehouses,
27:34enormous Amazon warehouses. How come no
27:36one complains about Amazon warehouses?
27:39You know, I don't it's no different from
27:42the outside.
27:43Um so that's the thing. And it brings in
27:45a whole bunch of revenue for the cities
27:47too, for the states. States are all
27:49broke. All these states are broke. So
27:53what do they do? They keep raising
27:54taxes, trying to come out these
27:56ridiculous taxes
27:58to try to make up for it rather than
28:01create new businesses that they could
28:03tax. How about allowing data centers,
28:06but just tax them more then, right? If
28:08Open AI or Anthropic really wants to
28:10build a B data center so badly, okay,
28:13just tax them more.
28:15They'll probably still agree and then
28:17get you more money and up and help
28:19upgrade infrastructure. Like, why would
28:21you not think that way?
28:37All I know is next five to 10 years
28:40things are going to be very different
28:41and we don't want to lose the AI war
28:44without data centers. Our models are not
28:47going to be able to grow. We need them
28:50to grow and maintain the lead. We don't
28:54want to be second tier in terms of
28:56models
28:58or agents. Okay. So
29:03we need we need to we need to do
29:05something. And not only that, Elon said
29:08this too.
29:10We don't have enough energy in the US.
29:13Even if we build all these data centers,
29:15we don't have enough power plants.
29:18We need some nuclear power plants. But
29:19nuclear has always been like so taboo.
29:22Like oh there's there could be nuclear
29:24fallout. There could be
29:27I don't know some meltdown you know
29:29nuclear waste which are all disproven at
29:33this point like things the modern
29:36nuclear power plants give out very
29:38little waste
29:40and then uh they build them safe so that
29:44unless a tsunami hits and and causes a
29:47breach it's fine
29:50and China is building like
29:53I heard something ridiculous like 10 or
29:5520 nuclear plants a year because because
29:58they're trying to maintain their growth.
30:00I mean that that's just ridiculous. We
30:02haven't built a nuclear plant in like
30:03decades.
30:05We need we need a lot more nuclear power
30:08plants.
30:19T Schmidt says, "So my electricity bill
30:21goes up so billionaires can make all the
30:23profit." How about you stop playing
30:25victim
30:27and do something? How about you use AI
30:29to make yourself a billionaire
30:32instead of complaining that billionaires
30:34are making all the money and then you
30:36don't see that's a victim's mindset. And
30:39if you're a victim mindset, I don't even
30:41know why you're here. Why? Why are you
30:43even investing in crypto?
30:46Right? There's there's always
30:48billionaires everywhere. There's
30:49billionaires in crypto. They're making a
30:50lot more money than you. So why don't
30:53you complain about that?
30:56Right? So that's why I don't get those
30:58kind of comments.
31:00If you're going to be a victim,
31:04okay, then then you could just sit in
31:06your mom's basement and, you know, do
31:09whatever
31:11and not not do anything.
31:15But if you want to succeed, stop playing
31:17victim and do something about it.
31:33Crypto and AI are not the same thing. Of
31:35course not. But they're both technology
31:38and one could think for itself. The
31:39other can't. But you they can certainly
31:42go together. It's just people haven't
31:43really figured out how yet. But they
31:46will be able to. You could certainly use
31:49AI to build out better crypto products
31:51to safeguard crypto better to stop the
31:54attacks to patch vulnerabilities,
31:57right? AI is a tool right now, a very
32:01very powerful tool, but it could also be
32:05a thinker, agent,
32:07and that's, you know, that's that's
32:10something that still needs to be figured
32:11out. Most people haven't. Most companies
32:13haven't
32:43Francis, you're talking about circular
32:44financing. That's a that may be a scam,
32:47but the technology itself isn't.
32:50You could listen to all the naysayers
32:52that say this and that and blah blah
32:54blah blah blah. That's probably because
32:57you haven't used it. If you actually use
32:59it, you'll know it's not a scam. These
33:01agents are actually thinking for
33:03themselves. They have more knowledge
33:06than any human on the planet and they're
33:09only getting smarter and more useful. So
33:12don't fall for this thing where you're
33:14hearing, oh, it's a scam and they're all
33:16go belly up and it's no better than
33:19Google. That's nonsense because you
33:21haven't used it. Go do it yourself and
33:24you'll see how good it is. If it's no
33:27joke that 5 to 10 years almost everyone
33:30that has a white collar job will be
33:32replaced. People still don't believe
33:34that. You're going to start seeing a lot
33:35more layoffs. A lot more layoffs soon.
33:38And you're starting to hear that
33:40already. Microsoft and all these guys
33:42giving out early retirement packages
33:46left and right.
33:50Let's go replace a lot of jobs.
33:53So yeah, the circular financing I could
33:56agree with. You know, one is investing
33:58another and they're investing back. I
34:00get that.
34:02But the technology itself is certainly
34:05no scam.
34:13What What do I do as a white collar
34:15worker? That's a good question. Um
34:17there's two things that you could do to
34:21one is make as much money as you can
34:25and invest it.
34:27Okay, short-term obviously save it.
34:30Don't don't wildly spend. Save as much
34:32money as you can and then invest.
34:36And two,
34:38uh learn how to use AI.
34:42So the the more you know how to use it,
34:44the more valuable you become for your
34:47company and for yourself.
34:49And that that may be a hard thing
34:51because you may never have been an
34:53entrepreneur yourself, but it doesn't
34:54matter. You should still learn it. It's
34:56just like when Google came out, people
34:59refused to use it and they fell behind.
35:04A lot of the jobs went to people that
35:06knew how to use Google, knew how to do
35:08research better than
35:10normal people, right? It's going to be
35:12the same thing. The more you know how to
35:14use AI, the more you keep up with it,
35:16the more you could help your boss or
35:18your company with it, the more valuable
35:20you become and it delays the inevitable,
35:25which is your firing. Um, but it'll
35:28prolong it. It'll extend it. And then
35:30you could also use it for other things.
35:33build a business that you always wanted
35:34to.
35:57T Schmidt, I didn't You didn't strike a
35:59nerve. You're just a [ __ ] idiot.
36:02You're you're a lefty whiner that is a
36:05victim.
36:10Who are you
36:12trying to get me and trying to get on my
36:15nerves? You're a sore loser
36:19and you think you're going to change my
36:22mind. Why don't you [ __ ] off? Yeah. And
36:25I did block you. What are you going to
36:26do about it,
36:29you piece of [ __ ] Yeah. What are you
36:31going to do about it? Huh? Go live in
36:34her mom's basement.
36:57Near
37:01Um,
37:03I like Deer. I like more more of their
37:06AI side than the regular side. I think
37:10Near AI is kind of interesting. It's an
37:12interference company where you can lease
37:14models from them. Um, but the regular
37:17chain
37:19is meant for AI, but I don't I don't
37:23hear a lot about their normal chain.
37:26See, this is the problem with crypto. I
37:28don't I don't think there's a lot of
37:29crypto that's really really really
37:31heavily into AI or at least maybe they
37:34are and I could be mistaken
37:36but you don't really hear about products
37:38I guess right that people care about
37:40right now it's just really hard to
37:41create products that people care about
37:43especially when prices are down because
37:45honestly I create products and people
37:47just don't care because all they care
37:49about is their portfolio right so
37:54I get it but when things come back
37:56that's when those products shine and
37:58you're going to hear more of them and
38:00they're going to be covered more in the
38:02news. So, yeah.
38:19What's your estimate timeline on when
38:20the last white collar job to go home?
38:23It's going to be next 5 to 10 years.
38:25It's going to be way sooner than people
38:27think because advancement AI is way
38:30faster than people know. Like the models
38:33that we have now and the models they're
38:35about to release are old. These frontier
38:38labs are using models that's two, three
38:40generations ahead. No joke. And every
38:44generation is that much more powerful
38:47because now they all learned how to do
38:49recursive training. The models are
38:51training themselves. So, every model
38:53that gets released is way smarter and
38:58and they come out with them way faster.
39:02It hasn't even really been a year.
39:03Enthropic has been around for three
39:05years, but when did things really start
39:07going?
39:10Like in February,
39:12so it's only been nine months.
39:16Like in nine months, models have
39:19quadrupled maybe even more, five times,
39:23maybe 10 times their intelligence in in
39:26nine months.
39:28So think about five more years of this.
39:33If every year the intelligence of the AI
39:35goes up by at least 500% and I think
39:38this will go up more probably 5,000% in
39:41a year this extrapolate the intelligence
39:45you know it's it's just going to
39:46skyrocket to the moon
39:48and uh and these companies will figure
39:52out how to use them
39:55in fact you don't even need to figure
39:56out you know what as a company
40:00you could already ask AI how to replace
40:02jobs and it'll tell you exactly. You
40:05feed it all the information.
40:07You feed it like, "Hey, I run a company
40:10of a thousand employees and this is what
40:13they all do." Okay? And this is how much
40:17revenue we're making, how much expenses
40:20we have. You put it all together, you
40:23feed it, you feed Opus that or Fable
40:27that, it will tell you exactly and give
40:29you a timeline in the next five years
40:32how to grow, how to lay off your
40:34employees, and how to efficiently
40:38integrate Claude code and claude and
40:42models in.
40:44You could ask AI to do that already.
40:46Most companies are not doing that, but
40:48if you did that, you probably
40:52be way further ahead than everyone else.
40:54Um, but eventually everyone's going to
40:56figure out that
41:15I'm old school. Straight mobile only.
41:17That's not old school. That's new
41:19school. It's okay.
41:22Okay. Anyone that says they're mobile
41:25only and don't use a computer,
41:28whatever.
41:31I can't live without a computer. Though
41:33I get it, it's easier to be on a mobile,
41:35but like there are certain things it's
41:38just way more efficient and better on
41:40the computer. Everyone should have a
41:43good computer. A decent setup. Not a
41:46gaming computer, but a decent setup.
42:00If I ask it to build me a better chip
42:02than Nvidia, what value does Nvidia
42:04have? Well, because Nvidia is asking the
42:06same thing and they're building better
42:07chips. It's
42:10it's just like every other company.
42:12They're trying to leaprog each other.
42:15you know, Nvidia's chip development is
42:17like 100% using AI now. They said that
42:21themselves.
42:22Microsoft and and uh whatever um Apple
42:28haven't admitted this, but Microsoft
42:30already admitted this. Like almost all
42:32of their code is written by AI. Unreal
42:36Engine came out, the next one, they said
42:39that it's going to be 100% AI focused.
42:41And all these guys are like, "No, no,
42:43no. We don't want that." that like get
42:45the [ __ ] out of here, right? If you're a
42:47coder and you're not using cloud code or
42:50codecs, then you're already an ancient
42:52dinosaur and you're about to lose your
42:54job anyways. Like
42:57all these companies are using AI. Like
43:00every single one. If you're a company
43:01that isn't, you're already falling
43:03behind.
43:06Again, it's the same as previous,
43:10I don't know,
43:12previous advancements in technology.
43:16Just like the mobile revolution, just
43:18like the Google revolution, just like
43:21the internet revolution,
43:23if you sat on the sidelines thinking
43:25it's a fad and everyone else got really
43:27good at it, then you wet belly up and
43:30you died.
43:33Same same concept, but this is even
43:35worse.
43:48Oh yeah, that reminds me. Um, like the
43:50mobile revolution. Um,
43:52I watched that uh
43:55I think it's a movie. Yeah, it's a
43:57movie, not a documentary about Nokia.
44:00No, no, about Blackberry.
44:02I forgot what they called it. It's on
44:04Netflix or one of the streaming things.
44:07It's like a story about how Blackberry
44:09got so big
44:11and then due to some shenanigans but
44:13also their arrogance
44:15um
44:18they died and lost the iPhone. They were
44:21so huge. I I remember I was in the
44:23corporate world,
44:25you know, everyone was using a
44:26Blackberry. Every single damn person on
44:29the planet was using a Blackberry. And
44:31then they kind of, you know, thought
44:35that iPhone would never catch on. Then
44:37they released inferior model called Bold
44:40and that was a horrible, horrible phone
44:43and had a lot of problems. And then uh
44:46and then they died shortly afterwards.
44:50So it's kind of same thing. It's like
44:51you can't
44:53you got to pay attention to these
44:54trends. You can't just ignore it.
45:04Yeah, same deal with Nokia. I think
45:06Nokia is still around though. They they
45:08sell like chips or something. Um they're
45:11still around, but they haven't died off
45:13completely. I think they still do have
45:14flip phones,
45:16but I think Blackberry is completely
45:18dead.
45:23My two largest holdings are Microsoft
45:25Nvidia. Am I safe for the next five
45:26years?
45:29Yes. Yes. Both are not going away
45:32anytime soon. Though Microsoft is
45:35starting to
45:37they're starting to uh trail a little
45:40bit. Microsoft
45:42is also late in the game, but they have
45:45Azure, which is good. That's being used.
45:47That's infrastructure, cloud
45:49infrastructure for AI. Uh their
45:51investment in OpenAI is good, but they I
45:54don't know what it is. their
45:55relationship got sour. So, Microsoft is
45:58now looking at a lot of open- source
46:00Chinese models. They integrated with um
46:03Copilot.
46:07So, I don't know what it is with that.
46:26AI can't do trial and error because it
46:28can't draw conclusion of something it
46:29doesn't know about. That's not true. And
46:32how is it solving all these math
46:33equations that hasn't been solved for
46:36like 80 years?
46:39It could still do it. Just a matter of
46:41prompting it, right? It could prove
46:43something or disprove something. Um, I
46:46agree. It hasn't gotten to a point where
46:48sometimes it can't critically think. It
46:50pigeon holes itself inside like a path
46:52or a box that it can't get out of. And I
46:55get very frustrated when it does that.
46:57It's not perfect. If it was perfect, I
46:59we wouldn't even have this conversation.
47:00Everyone would be out of job already. Uh
47:03so it's not perfect, but these companies
47:07are programming them to get smarter
47:09every generation so that they could
47:11think more for themselves and get
47:13themselves out of that box.
47:16So
47:18it's just a matter of time. they already
47:20they already figure everything else out.
47:23Um
47:26yeah, once they can once they figure out
47:29how to make a model really think for
47:30itself, like really think like a human
47:34critically think and analyze all angles
47:37from a
47:39top- down perspective, then it's game
47:41over. It's just it might be harder to do
47:44that, but uh that's the last step.
47:57Yeah, we identified the problem, but we
48:00don't know the solution and it came up
48:02with a solution. So that trial and error
48:04thing that you just said doesn't make
48:06sense. If there's no solution and it
48:09finds a solution,
48:12okay, then that disproved your point
48:15already. We're talking about problems
48:17that have no human solution.
48:21It can't find that anywhere and it found
48:24the solution. So
48:28that's telling you something.
48:39It would seem like the total destruction
48:41is the only solution. Um,
48:45yeah,
48:47it's a path we It's a Pandora's box.
48:50Okay. It's just like when we discovered
48:51nuclear power or nuclear weapons. Once
48:55you have it, you can't take it back.
48:57It's not like every nation is going to
48:58say, "Oh, we're just going to pretend
49:00like we don't have nuclear technology.
49:03We don't have nuclear bombs." Right? You
49:06can't you can't undo it.
49:09So it's the same thing like we have
49:13figured out a way for these large
49:15language models to think. We know how to
49:17train them to think. Okay. And now they
49:21know how to train other future models.
49:24You could turn a blind eye to it and say
49:26we're just going to stop.
49:28We're just not going advance anymore
49:30because we're afraid which is what most
49:32people think we should do. But
49:35unfortunately technology is out of the
49:36bag already.
49:39There's other companies in other
49:40countries of the world
49:43that's working on it and they're not
49:45going to stop.
49:47So that's the problem. If the other
49:49country is not going to stop, then you
49:51can't stop either and you just have to
49:52win the war. And you hope that the
49:54person that wins the war or the company
49:56that wins the war is ethical and moral
49:59and doesn't have some
50:03nefarious agenda, right? That's the only
50:05thing you could hope for. So maybe you
50:07can have good regulations, good
50:09oversight, whatever. You don't want to
50:11stop, but you want to make sure that the
50:13people leading are good people,
50:16right? Um
50:19otherwise, you let I don't know, let's
50:22say you let North Korea win the AI race,
50:25it's game over for a world.
50:28It would be game over. That would be the
50:29worst case scenario. they'll figure out
50:32how to hack everyone's nuclear codes and
50:34just blow up all the nukes around the
50:35world and win. Um,
50:38yeah. So, you don't want that situation.
50:45I guarantee you every field every field
50:48in
50:51in every field, I don't know how you say
50:53it better, every field out there that is
50:55trying to improve.
50:57Someone asked about nuclear fision like
51:00energy.
51:02Okay. Certainly money, medical,
51:07military,
51:09like every single field out there,
51:13you have these companies or agencies
51:16that are running thousands and thousands
51:18of agents trying to improve or solve a
51:21problem. It's guaranteed that's already
51:24happening and there will be more of that
51:27going forward. Like the rate of
51:29advancement have gone up a thousandfold
51:32now. I think we're going to see some
51:34beautiful things. People that don't
51:36really care about any of this stuff. I
51:38think in the next five years, you're
51:39going to see such a huge advancement
51:41with medical, with new drugs or shots or
51:46whatever that solve all these things
51:49that have been lingering forever.
51:51anti-aging and anti-cancer vaccines and
51:56all these things are will come out and
51:58basically make everyone live to 200
52:01years.
52:02So that that's probably going to be the
52:04first major breakthrough that people
52:06see. We're going to have all these
52:07things. People that have Alzheimer's get
52:11get cured. people that have, you know,
52:14blindness or whatever or some kind of
52:17rare disease or
52:20kidney failures go away and all these
52:23things get cured. I think in the next
52:25five years, you're going to hear a lot
52:27more of that.
52:36But here's the truth. Like I think the
52:39next 10 year, five, 10 years see a lot
52:40of that. and everyone starts living
52:42forever. But here's the thing.
52:46Do you really want to live forever where
52:48you have to work for 150 years? You
52:51know, retirement age goes from 70, 80 to
52:56150, 160.
52:59So, doesn't mean that you're just going
53:02to be a lot better. You'll live longer,
53:05but the the quality of life will be
53:07better, but you're still have to figure
53:09out how to make money and and live for
53:12another lifetime, basically.
53:21All right, that's pretty much it. All
53:24right, guys. Have a good Friday. Rambled
53:26on too long today. We'll go back to
53:28work.
53:30Crypto is not recovering today but uh
53:34but some tech stocks are. You know when
53:37we go through these periods where there
53:39are large large major corrections things
53:42will get better. Don't try to outsmart
53:46the market. Don't try to panic dump
53:50while everyone else is doing it. Hold
53:53DCA right strategy. You guys get it. So
53:57hang in there. All right, guys. Have a
54:00good one. Smash a like. Subscribe to the
54:02channel. Take care.

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