Bitcoin Faces a Global Market Bloodbath Transcript, AI Summary & Key Points

00:02 Welcome back to Cryptos Are Us. I'm George. We're all George. Welcome to another market open stream. Happy Friday. Is today going to be a better day than yesterday? Yesterday was a brutal, brutal red day. US markets fell like I haven't seen in years. Crypto fell down and we're facing a global market bloodbath. But is today better day? Let's discuss.

00:39 All right, let's do it guys. Welcome, welcome, welcome. So, we are starting out a day unfortunately with Bitcoin down over 5% versus yesterday's number. So, we're at 75,000 right now and a lot of alts are bleeding. ETH is at 2,200. Uh, Soul is right under 90 and then uh you got Sooie at 86. XRP down almost 10% from yesterday 118. But today the US market is looking stronger.

01:21 Uh you could see that we are plus 200 for NASDAQ at least. There's a little bit of buying. Yesterday was just absolutely horrible. Overall, tech has been selling off like crazy. And yesterday just escalated. There was just way too much FOMO and I mean, yeah, FOMO in the wrong direction. Panic dumping. But normally when you have a large correction like this and it bottoms, especially for tech, it recovers and it's a really good buying opportunity.

01:52 It's just uh it's hard to time, right? A lot of people are looking for that bottom like the absolute moment where it bottoms and bounces is hard to time. Yesterday could have been that day. Maybe we have a few more days like that before we finally find bottom. But basically all the gains from the last like six months were wiped out within the last few weeks.

02:16 But today we are bouncing a little bit. Uh and we got good economic data which actually isn't what we want. Uh economy added a lot more jobs than expected last month. 165,000 versus like it was 80 something anticipated. And then unemployment slips down to 4.1 from 4.2. This is good as a nation but bad for lowering interest rates uh lowering the Fed fund rate because we were actually you know we're trying to put some pressure on the Fed and uh this doesn't put pressure on the Fed.

02:56 You know if if the economy was suffering and then we had high inflation you know it it makes them choose right and they normally choose to save jobs and save the economy. But if the economy is actually recovering, then they don't have to do that. They just concentrate on inflation and that leads to more rate hikes. That's not what we want. You have this one uh Fed president says uh hikes ahead but at a gradual pace.

03:27 See, that's not what we want. That's not what we want at all. Right now in December, it's gotten a little better. Hike is at 61%. Hold is 31%. It it was way higher for Hike. So, we're starting to climb up with the markets falling. It does help a little bit, but what more people are expecting and hoping and pushing for at this point is the end of the war to stop the war.

03:55 If you stop the war, oil prices will slowly gradually come down. Just like when we had ceasefire a few months ago, when we had the ceasefire, oil dropped dramatically down to pre pre-war levels. So oil could come down really quickly. So this is what people are looking forward to. If we stop the war or end the war or pull out or whatever, oil prices come down, things stabilize, okay?

04:28 then we don't have to force the Fed to raise rates and then 2027 it could completely change. I think that's the new that's the new thing, right? That's that's what most people are pushing for. Uh don't know if that's actually going to happen. I actually don't you know a lot of people just overlook it. I guess because Congress couldn't push anything through because Republicans were controlling the Senate side, but as acting president, your war powers, right, only give you like 60 or 90 days and that and that expired

05:04 already. So, I don't even know how the war is continuing because normally speaking, if you declare war, you have to get approval from Congress and Trump didn't do that. So, I don't know how it's continuing. I guess no one stopped it because they couldn't vote to stop it. But I'm pretty sure Congress is already working hard to figure out how to end the war.

05:32 And uh so this may be forced upon soon. I don't know. I don't know if there's uh more to it than that. But yeah, that that is what the number one thing e even Vance and Rubio and Trump, they all admitted that the Republicans lost the primary, the not primary, the midterms because people don't understand the war. They don't like it. it has caused things to go up in price and people still don't understand why we have this reliance uh wi with uh with Israel and why we're paying them billions of dollars and a lot of people

06:11 see this war as a way to help Israel like not sure why we're doing all that when we got our own problems here statewide right like that the these are the big questions and no one has been able to really answer or clarify Okay. Uh, all right. So, outside of this, what else? Uh, obviously AI, meltdown, tech selloff, you have Nvidia, Qualcomm, Micron, SanDisk, Dell, HP, you name it.

06:44 They all fell hard yesterday and even harder the last few weeks. So, basically, all the gains that they had in the last six months wiped out completely. But that could be a good thing. So, if you missed If you missed all that, the rise up, now is your chance to get back in again or get in for a first time, I should say. Um, so there's a lot of talk.

07:06 Why is this all happening? There's a lot of talks about how Democrats don't like data centers. They're going to try to slow down growth. A lot of states like Texas was like was the growth center for data centers and now people are afraid that well Texas now the blue they're going to stop it they're going to halt all this momentum and that's why there's this all this fear right but Texas did say they're not going to stop any contracts that's already in place for 2027 2028 so at least we have that but afterwards who

07:46 knows what's going to happen and I saw all this ING, which is a big bank out there, is trying to actually sell off their $500 million worth of debt from some of these big AI companies. So, they're trying to delever the risk at this point, right? So, anyways, when you hear about this, it doesn't sound very good. So, there's that. But again, I I've been making this point.

08:11 I think it's there's too much fear, too much panic selling. Everything's too oversold. And that's what happens with market corrections. It always goes to the extreme. These companies are still doing fine. They're making money hand over fist. AI is not going to go away anytime soon and they're only growing. And you can't just ignore it. You can't just ignore and say, "Well, we're just going to stop a building data centers and that's it.

08:34 You know, that's going to stop advancements." No, because other countries will continue to push forward like China and then we're going to fall behind. And AI is the one category you don't want to fall behind with, right? You can fall behind a lot of things and be fine. Military is probably not one of them, but AI is certainly not one because whoever dominates AI, whoever controls the frontier models basically wins, right?

09:03 So, I hope people in Congress people understand that we can't lose the AI race. We really can't. We can't afford to lose. That may be the last war we ever lose if we lose that war. Uh outside of that global meltdown everywhere, bloodbath everywhere. Look at all these countries that are now in bare market territory. And I think the US is also at least for NASDAQ.

09:36 But I mean you got UAE, you got China in here, uh Japan, Brazil, Taiwan, you got all these countries, right? So this is what the world is facing right now. Not just the US, worldwide selloff. A lot of panic selling at this point. Yep. Now, as for Bitcoin and crypto, what does uh what does this have to relate? Well, obviously, when you have this uh panic selloff, a lot of people, a lot of funds, a lot of institutions are selling off because they're just scared.

10:26 They're they're led by humans. And as smart as these guys are supposed to be, a lot of time they just react with market news like the rest of us. Honestly, now that I've been studying the markets more over the last few years, not just not just about Bitcoin and crypto, but just looking at markets overall and sentiment and how rates and and uh and markets move and how our financial system works.

10:51 You put it all together and you just watch it, you come to realize that a lot of these guys are just no smarter than you or I. They're just reacting to news. If they see everyone else selling, they just join in on the fun. They see everyone else buying, they join in on the FOMO. Sometimes it just comes down to that. That's why if you look at a lot of these funds, you go back and look at how these funds have performed.

11:18 Some of the largest hedge funds out there, they have performed no better than just buying the S&P 500. And certainly not better than just buying and holding Bitcoin. So, are they really that smart? I don't know. They know a lot of fancy terms, but they fall for their emotion just like everyone else. Um, and I feel like that's just exactly, you know, exactly uh what's happening right now.

11:47 You got a lot of people that are scared, okay? Anticipation of pain is worse than pain itself and they're trying to protect their portfolio. And in most cases, when you make rash moves, you lose. You lose money or you lose the underlying thing that you're selling. Uh, and I think we're going to see a lot more of that as we recover upwards. But uh yesterday we did have a minus430 million day.

12:13 That kind of proves that point. You have a lot of people that are just selling off right now. If you look at liquidity is even worse. I haven't looked at liquidity for a while. Uh minus 1.1 billion just from yesterday alone. In one single day, people pulled out 1.15 billion in stable coins. in the last seven days even worse 5.53 billion. So there are a lot of people that are panic selling trying to you know delever and make cash which is fine if you don't have cash.

12:48 I know how important that is. That's actually a good reason. But if you're doing it just because you're trying to outsmart the market, you're trying to trade, you think you're going to time the bottom, it's not going to work out. It never does. So, don't do that. But if you need it because hey, you need to pay the bills, that's a different story, right?

13:09 All right. Outside of that, uh 1.15 billion in leverage wrecked last night. It was even more when I did my videos, was like 1.3 billion or something. Uh still clearing out a lot of leverage. Okay. And this doesn't help the situation. you know, whenever we get stuck between a range and there's not a lot of buying pressure or selling pressure, we kind of just hover in that range and liquidation just I think contributes to that because you get a lot of people from one side or another that just keeps on getting liquidated

13:46 and we go nowhere fast. That's an 1.15 billion. Had they just held and not played with leverage, they'll be fine. They there will be 1.15 billion more in the market right now. So just think about that. Just think about that. All right. Uh last few things. Uh, this shows a lot of sell pressure from Binance and Coinbase. Well, again, this goes to what I was saying.

14:26 A lot of these people are panic selling because because they're fearful and fear spreads quickly, faster than maybe even FOMO. I don't know what's what spreads faster, fear or FOMO. probably fear. But keep in mind, like I said, I think there's just too much panic right now. And every single time, we do have a major correction. What happens? We find a footing, we find a bottom, and then recover, and then we make a new high.

15:00 Has always been like that. Even throughout all the crypto winters that we have gone through, every single time that's what happens. You may have to wait a while, but eventually we come back up and someone found this. This looks almost identical to what happened in 2022 when we found that bottom at 15,000, right? We did these weird weird moves where we kind of recovered, went down, then went down a little bit lower, then recovered, went down, and then we started heading higher.

15:46 It looks almost identical at this point. So, keep that in mind. All right. That's pretty much it today. NASDAQ is gaining some strength, some buying, going back into some of the decimated stocks yesterday. Like AMD was down like 20% or something yesterday, like something ridiculous. Now they're up 13%. It doesn't make up for how much they went down.

16:17 It's like halfway, but it's something. Micron, look at that. Look, look at how fel how much it fell. Now it's just barely up 10%. It needs to go up like 50% to even go back to where it was. Uh Sandis, Dell, you know, look today hardly registers because that's how brutal yesterday was. It it doesn't even show up, right? But it's a start. People are recognizing that, hey, maybe markets are too oversold.

16:47 Maybe this is a good time to be buying, right? Because you really can't time bottom. The best way to do it is DCA. If you buy a little now, which isn't a bad idea, and then next week we go down further, it's okay. You buy more. You're dollar cost averaging. You're bringing your average down. And then when you recover, you're golden. All right, let's do some Q&A.

17:37 Not sure if CMDC reported as Revolt Bank swaps clock code for self-hosted Chinese open way model cutting AI bill by 90%. A lot of people it's not just them. Microsoft added it. um not GitHub but co-pilot like yeah I mean it could save a lot of normal things don't require frontier models okay that that's the honest truth if you're just doing it for like normal number crunching and stuff you don't need frontier models but you need frontier models when it comes to a very intensive stuff if you're trying to plan a war uh

18:16 yeah if you want to solve math equations that haven't been solved in 60 or 90 years. Yeah, you need frontier models for that. Um, even gaming like right now what I'm doing with uh Frontline and Clash World, I need frontier models. 3D modeling is very intensive to calculate how all these triangles and pixels and textures and shaders, how they work together to look good to simulate a 3D world.

18:47 It takes a lot of intelligence. And this lower four models just can't do it. They're getting better, but still not quite there yet. We do not need Gary Gunler back. No, that's not that's not what we want. Uh despite the conditions we're in right now, you got to look at it from the glass half full side. Okay, we have very pro- crypto SEC, CFTC, Treasury, and President and they're going to keep pushing forward and that's a good thing as long as they don't allow corruption to keep happening, which mainly everyone's

19:33 looking at the Trump family now. Um, but outside of that, we're going to have, you know, this nation is going to foster really good innovation going forward. and I welcome it and I look forward to it. Okay, but just got to make sure that another like FTX moment doesn't happen. Uh we had Binance happen. If Binance didn't have the funds and they collapse, man, we would be at like 30,000 Bitcoin right now.

20:05 Um but luckily it happened to exchange that could cover and they kind of squashed the fears, so that's good. But if it happens to a lower exchange just as big and you know they weren't able to recover then uh it would be really bad. But even when that happens we saw it happen with FTX with Mount Gaus with some of these bigger exchanges. It gets really bad for a while and then we recover back up because nothing can stop this train.

20:36 It has it's a moving train that is unstoppable at this point. Even if it gets derailed, okay, it'll just continue back up. Ake says, "I really like your concise breakdown why inflation won't ever go down." Yeah, it won't ever go down. when the money supply grew by 30% then everything got 30% at least 30% more expensive so that will never go away and the Fed has always said they like to maintain a 2 to 3% inflation rate um so they will always try to maintain a 2 to 3% inflation rate they will never say we're going we're

21:31 going to like maintain a 0% inflation rate um there's probably some smart reason for why that is. I guess you you want to distribute money to help grow the economy in some way. I I don't quite understand why you do need to actually have a set two to 3% inflation rate. There's some bigger purpose to that. So, I'll have to I'll have to look at it. But when the money supply grows, I mean, just look at it.

22:02 If you don't even think about money, just think about anything else that that's out there, right? Let's say uh I don't know, you got a you got a very limited group of uh cards, sports cards, basketball, football cards, or limited group of Pokemon. They're rare because I mean they're they're priced high because they're rare because there's only certain amount.

22:31 Now take that certain amount. Maybe there's 10 in the world or there's 30 in the world or a thousand in the world. Now you inflate it by 30%. A th00and becomes 1300. 10 becomes 13. Do you think that's going to increase the price of those goods or collectibles or items? No. It's going to decrease them dramatically. That's what happened with money. Our our money supply went up by 30%.

22:58 So obviously that devalues all the other money that's in circulation and that is why things got more expensive because money itself became less valuable. So everything got more expensive to make up for it. That's what inflation is. It's it's sometimes hard to understand but if you think about it that's you know just think about in terms of items rather than money and then and then it becomes much more clear.

23:43 I did post some new new photos in Discord on Frontline of my first person shooter game. Um, so I've been making a move to to ported to Unreal Engine and things look damn good. I mean, just look at how good that looks. It's going to look like a real AAA studio game. Still still improving upon it. Added some more pictures today. It's going to be damn good when it's done.

24:17 So, just FYI, I should get this done hopefully by this weekend. So, you could still play. One of the great things about Front Line is it's a it's a browser based game. So, you could play it on any computer. You just had to do a small download, but you buy any computer right away. Graphics are decent and the mechanics and everything is really good. But once I get the Unreal Engine out, man, then this becomes a really good AAA game.

24:47 I might even be able to like put on Steam and stuff and uh and get more attention that way. So, both versions will be able to play each other. They'll be on basically one server still. So, um, it's going to be it's going to be really good. But this is what I'm talking about. You use an inferior model and they can't they can't do this. They they they just can't process things.

25:12 Now, this isn't perfect, but I know, but if you use like inferior model, um, it just the results are just way worse. Way worse. I don't get people's hatred of data centers. I don't I honestly I don't get it either. I I don't know why. Like data centers are normally just housed in like uh commercial areas or uh you know warehouse areas. when when you're outside, you don't hear any more noise.

26:09 It's not like it's super noisy. Um, I think there's a lot of concerns about like water usage, which is now no longer really a thing, electricity usage, which is it which is true, but a lot of these data centers, at least the AI ones, they're paying to upgrade the energy infrastructure. They're not just building out the data center. They're upgrading.

26:31 This is the same argument before people hated Bitcoin mining, right? All these states still hate it. They don't want Bitcoin miners because they're afraid that there's not enough electricity in the grid. But what Bitcoin mining has done is upgraded a lot of these towns that they're in with better infrastructure. That's what these data centers, it's the same principle.

26:57 I bet these data centers don't even take as much energy as Bitcoin mining facilities, which take a lot more. I guess it depends on the size and stuff, but still, uh, Bitcoin mining is extremely energy intensive, but it's the same thing. It's like I get it if they're building like a data center in your backyard in a residential area that no one wants to see that.

27:21 But if it's in the middle of a commercial area among all these other warehouses, you don't even notice. Like I see a lot of Amazon warehouses, enormous Amazon warehouses. How come no one complains about Amazon warehouses? You know, I don't it's no different from the outside. Um so that's the thing. And it brings in a whole bunch of revenue for the cities too, for the states.

27:47 States are all broke. All these states are broke. So what do they do? They keep raising taxes, trying to come out these ridiculous taxes to try to make up for it rather than create new businesses that they could tax. How about allowing data centers, but just tax them more then, right? If Open AI or Anthropic really wants to build a B data center so badly, okay, just tax them more.

28:15 They'll probably still agree and then get you more money and up and help upgrade infrastructure. Like, why would you not think that way? All I know is next five to 10 years things are going to be very different and we don't want to lose the AI war without data centers. Our models are not going to be able to grow. We need them to grow and maintain the lead.

28:50 We don't want to be second tier in terms of models or agents. Okay. So we need we need to we need to do something. And not only that, Elon said this too. We don't have enough energy in the US. Even if we build all these data centers, we don't have enough power plants. We need some nuclear power plants. But nuclear has always been like so taboo. Like oh there's there could be nuclear fallout.

29:24 There could be I don't know some meltdown you know nuclear waste which are all disproven at this point like things the modern nuclear power plants give out very little waste and then uh they build them safe so that unless a tsunami hits and and causes a breach it's fine and China is building like I heard something ridiculous like 10 or 20 nuclear plants a year because because they're trying to maintain their growth.

30:00 I mean that that's just ridiculous. We haven't built a nuclear plant in like decades. We need we need a lot more nuclear power plants. T Schmidt says, "So my electricity bill goes up so billionaires can make all the profit." How about you stop playing victim and do something? How about you use AI to make yourself a billionaire instead of complaining that billionaires are making all the money and then you don't see that's a victim's mindset.

30:36 And if you're a victim mindset, I don't even know why you're here. Why? Why are you even investing in crypto? Right? There's there's always billionaires everywhere. There's billionaires in crypto. They're making a lot more money than you. So why don't you complain about that? Right? So that's why I don't get those kind of comments. If you're going to be a victim, okay, then then you could just sit in your mom's basement and, you know, do whatever and not not do anything.

31:15 But if you want to succeed, stop playing victim and do something about it. Crypto and AI are not the same thing. Of course not. But they're both technology and one could think for itself. The other can't. But you they can certainly go together. It's just people haven't really figured out how yet. But they will be able to. You could certainly use AI to build out better crypto products to safeguard crypto better to stop the attacks to patch vulnerabilities, right?

31:57 AI is a tool right now, a very very powerful tool, but it could also be a thinker, agent, and that's, you know, that's that's something that still needs to be figured out. Most people haven't. Most companies haven't Francis, you're talking about circular financing. That's a that may be a scam, but the technology itself isn't. You could listen to all the naysayers that say this and that and blah blah blah blah blah.

32:54 That's probably because you haven't used it. If you actually use it, you'll know it's not a scam. These agents are actually thinking for themselves. They have more knowledge than any human on the planet and they're only getting smarter and more useful. So don't fall for this thing where you're hearing, oh, it's a scam and they're all go belly up and it's no better than Google.

33:19 That's nonsense because you haven't used it. Go do it yourself and you'll see how good it is. If it's no joke that 5 to 10 years almost everyone that has a white collar job will be replaced. People still don't believe that. You're going to start seeing a lot more layoffs. A lot more layoffs soon. And you're starting to hear that already. Microsoft and all these guys giving out early retirement packages left and right.

33:50 Let's go replace a lot of jobs. So yeah, the circular financing I could agree with. You know, one is investing another and they're investing back. I get that. But the technology itself is certainly no scam. What What do I do as a white collar worker? That's a good question. Um there's two things that you could do to one is make as much money as you can and invest it.

34:27 Okay, short-term obviously save it. Don't don't wildly spend. Save as much money as you can and then invest. And two, uh learn how to use AI. So the the more you know how to use it, the more valuable you become for your company and for yourself. And that that may be a hard thing because you may never have been an entrepreneur yourself, but it doesn't matter.

34:54 You should still learn it. It's just like when Google came out, people refused to use it and they fell behind. A lot of the jobs went to people that knew how to use Google, knew how to do research better than normal people, right? It's going to be the same thing. The more you know how to use AI, the more you keep up with it, the more you could help your boss or your company with it, the more valuable you become and it delays the inevitable, which is your firing.

35:25 Um, but it'll prolong it. It'll extend it. And then you could also use it for other things. build a business that you always wanted to. T Schmidt, I didn't You didn't strike a nerve. You're just a [ __ ] idiot. You're you're a lefty whiner that is a victim. Who are you trying to get me and trying to get on my nerves? You're a sore loser and you think you're going to change my mind.

36:22 Why don't you [ __ ] off? Yeah. And I did block you. What are you going to do about it, you piece of [ __ ] Yeah. What are you going to do about it? Huh? Go live in her mom's basement. Near Um, I like Deer. I like more more of their AI side than the regular side. I think Near AI is kind of interesting. It's an interference company where you can lease models from them.

37:14 Um, but the regular chain is meant for AI, but I don't I don't hear a lot about their normal chain. See, this is the problem with crypto. I don't I don't think there's a lot of crypto that's really really really heavily into AI or at least maybe they are and I could be mistaken but you don't really hear about products I guess right that people care about right now it's just really hard to create products that people care about especially when prices are down because honestly I create products and people just don't care

37:47 because all they care about is their portfolio right so I get it but when things come back that's when those products shine and you're going to hear more of them and they're going to be covered more in the news. So, yeah. What's your estimate timeline on when the last white collar job to go home? It's going to be next 5 to 10 years. It's going to be way sooner than people think because advancement AI is way faster than people know.

38:30 Like the models that we have now and the models they're about to release are old. These frontier labs are using models that's two, three generations ahead. No joke. And every generation is that much more powerful because now they all learned how to do recursive training. The models are training themselves. So, every model that gets released is way smarter and and they come out with them way faster.

39:02 It hasn't even really been a year. Enthropic has been around for three years, but when did things really start going? Like in February, so it's only been nine months. Like in nine months, models have quadrupled maybe even more, five times, maybe 10 times their intelligence in in nine months. So think about five more years of this. If every year the intelligence of the AI goes up by at least 500% and I think this will go up more probably 5,000% in a year this extrapolate the intelligence you know it's it's just going to

39:46 skyrocket to the moon and uh and these companies will figure out how to use them in fact you don't even need to figure out you know what as a company you could already ask AI how to replace jobs and it'll tell you exactly. You feed it all the information. You feed it like, "Hey, I run a company of a thousand employees and this is what they all do." Okay?

40:13 And this is how much revenue we're making, how much expenses we have. You put it all together, you feed it, you feed Opus that or Fable that, it will tell you exactly and give you a timeline in the next five years how to grow, how to lay off your employees, and how to efficiently integrate Claude code and claude and models in. You could ask AI to do that already.

40:46 Most companies are not doing that, but if you did that, you probably be way further ahead than everyone else. Um, but eventually everyone's going to figure out that I'm old school. Straight mobile only. That's not old school. That's new school. It's okay. Okay. Anyone that says they're mobile only and don't use a computer, whatever. I can't live without a computer.

41:31 Though I get it, it's easier to be on a mobile, but like there are certain things it's just way more efficient and better on the computer. Everyone should have a good computer. A decent setup. Not a gaming computer, but a decent setup. If I ask it to build me a better chip than Nvidia, what value does Nvidia have? Well, because Nvidia is asking the same thing and they're building better chips.

42:07 It's it's just like every other company. They're trying to leaprog each other. you know, Nvidia's chip development is like 100% using AI now. They said that themselves. Microsoft and and uh whatever um Apple haven't admitted this, but Microsoft already admitted this. Like almost all of their code is written by AI. Unreal Engine came out, the next one, they said that it's going to be 100% AI focused.

42:41 And all these guys are like, "No, no, no. We don't want that." that like get the [ __ ] out of here, right? If you're a coder and you're not using cloud code or codecs, then you're already an ancient dinosaur and you're about to lose your job anyways. Like all these companies are using AI. Like every single one. If you're a company that isn't, you're already falling behind.

43:06 Again, it's the same as previous, I don't know, previous advancements in technology. Just like the mobile revolution, just like the Google revolution, just like the internet revolution, if you sat on the sidelines thinking it's a fad and everyone else got really good at it, then you wet belly up and you died. Same same concept, but this is even worse.

43:48 Oh yeah, that reminds me. Um, like the mobile revolution. Um, I watched that uh I think it's a movie. Yeah, it's a movie, not a documentary about Nokia. No, no, about Blackberry. I forgot what they called it. It's on Netflix or one of the streaming things. It's like a story about how Blackberry got so big and then due to some shenanigans but also their arrogance um they died and lost the iPhone.

44:18 They were so huge. I I remember I was in the corporate world, you know, everyone was using a Blackberry. Every single damn person on the planet was using a Blackberry. And then they kind of, you know, thought that iPhone would never catch on. Then they released inferior model called Bold and that was a horrible, horrible phone and had a lot of problems.

44:43 And then uh and then they died shortly afterwards. So it's kind of same thing. It's like you can't you got to pay attention to these trends. You can't just ignore it. Yeah, same deal with Nokia. I think Nokia is still around though. They they sell like chips or something. Um they're still around, but they haven't died off completely. I think they still do have flip phones, but I think Blackberry is completely dead.

45:23 My two largest holdings are Microsoft Nvidia. Am I safe for the next five years? Yes. Yes. Both are not going away anytime soon. Though Microsoft is starting to they're starting to uh trail a little bit. Microsoft is also late in the game, but they have Azure, which is good. That's being used. That's infrastructure, cloud infrastructure for AI. Uh their investment in OpenAI is good, but they I don't know what it is.

45:54 their relationship got sour. So, Microsoft is now looking at a lot of open- source Chinese models. They integrated with um Copilot. So, I don't know what it is with that. AI can't do trial and error because it can't draw conclusion of something it doesn't know about. That's not true. And how is it solving all these math equations that hasn't been solved for like 80 years?

46:39 It could still do it. Just a matter of prompting it, right? It could prove something or disprove something. Um, I agree. It hasn't gotten to a point where sometimes it can't critically think. It pigeon holes itself inside like a path or a box that it can't get out of. And I get very frustrated when it does that. It's not perfect. If it was perfect, I we wouldn't even have this conversation.

47:00 Everyone would be out of job already. Uh so it's not perfect, but these companies are programming them to get smarter every generation so that they could think more for themselves and get themselves out of that box. So it's just a matter of time. they already they already figure everything else out. Um yeah, once they can once they figure out how to make a model really think for itself, like really think like a human critically think and analyze all angles from a top- down perspective, then it's game over.

47:41 It's just it might be harder to do that, but uh that's the last step. Yeah, we identified the problem, but we don't know the solution and it came up with a solution. So that trial and error thing that you just said doesn't make sense. If there's no solution and it finds a solution, okay, then that disproved your point already. We're talking about problems that have no human solution.

48:21 It can't find that anywhere and it found the solution. So that's telling you something. It would seem like the total destruction is the only solution. Um, yeah, it's a path we It's a Pandora's box. Okay. It's just like when we discovered nuclear power or nuclear weapons. Once you have it, you can't take it back. It's not like every nation is going to say, "Oh, we're just going to pretend like we don't have nuclear technology.

49:03 We don't have nuclear bombs." Right? You can't you can't undo it. So it's the same thing like we have figured out a way for these large language models to think. We know how to train them to think. Okay. And now they know how to train other future models. You could turn a blind eye to it and say we're just going to stop. We're just not going advance anymore because we're afraid which is what most people think we should do.

49:32 But unfortunately technology is out of the bag already. There's other companies in other countries of the world that's working on it and they're not going to stop. So that's the problem. If the other country is not going to stop, then you can't stop either and you just have to win the war. And you hope that the person that wins the war or the company that wins the war is ethical and moral and doesn't have some nefarious agenda, right?

50:03 That's the only thing you could hope for. So maybe you can have good regulations, good oversight, whatever. You don't want to stop, but you want to make sure that the people leading are good people, right? Um otherwise, you let I don't know, let's say you let North Korea win the AI race, it's game over for a world. It would be game over. That would be the worst case scenario.

50:29 they'll figure out how to hack everyone's nuclear codes and just blow up all the nukes around the world and win. Um, yeah. So, you don't want that situation. I guarantee you every field every field in in every field, I don't know how you say it better, every field out there that is trying to improve. Someone asked about nuclear fision like energy. Okay.

51:02 Certainly money, medical, military, like every single field out there, you have these companies or agencies that are running thousands and thousands of agents trying to improve or solve a problem. It's guaranteed that's already happening and there will be more of that going forward. Like the rate of advancement have gone up a thousandfold now. I think we're going to see some beautiful things.

51:34 People that don't really care about any of this stuff. I think in the next five years, you're going to see such a huge advancement with medical, with new drugs or shots or whatever that solve all these things that have been lingering forever. anti-aging and anti-cancer vaccines and all these things are will come out and basically make everyone live to 200 years.

52:02 So that that's probably going to be the first major breakthrough that people see. We're going to have all these things. People that have Alzheimer's get get cured. people that have, you know, blindness or whatever or some kind of rare disease or kidney failures go away and all these things get cured. I think in the next five years, you're going to hear a lot more of that.

52:36 But here's the truth. Like I think the next 10 year, five, 10 years see a lot of that. and everyone starts living forever. But here's the thing. Do you really want to live forever where you have to work for 150 years? You know, retirement age goes from 70, 80 to 150, 160. So, doesn't mean that you're just going to be a lot better. You'll live longer, but the the quality of life will be better, but you're still have to figure out how to make money and and live for another lifetime, basically.

53:21 All right, that's pretty much it. All right, guys. Have a good Friday. Rambled on too long today. We'll go back to work. Crypto is not recovering today but uh but some tech stocks are. You know when we go through these periods where there are large large major corrections things will get better. Don't try to outsmart the market. Don't try to panic dump while everyone else is doing it.

53:50 Hold DCA right strategy. You guys get it. So hang in there. All right, guys. Have a good one. Smash a like. Subscribe to the channel. Take care.