191: MoneyTalks #53 | Ethereum Post-Merge l Revolut Pay Later Trial | a16z Funds Sequence and Sardine | Bored Yachts

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Hey, there on Pete Townsend, and
this is money, never sleeps.

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We look inside the minds of
entrepreneurs, and at the

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crossover of startups,
Enterprise Finance, technology

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and Life.
As we know it in this episode,

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Owen, Fitzgerald, and I talk
through what happened last week

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with the etherium merge and
prove the steak, some pandas,

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and Goofy songs, and early
morning Bank list live.

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Dream of the merge and
critically a 99 percent.

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More energy efficient
blockchain.

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We also look at the new revolute
be npl product live in Ireland

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or buy now pay later and how an
early morning test of the new

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product feature from revolute
went for me, we also look at two

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new fintech funding deals at a
16z or Andreessen, Horowitz did

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on this side of the pond and
sequins and sardines and how it

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feels like, 2002 all over again
with Builder.

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Still building on the
infrastructure tip.

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All right here, On money, never
sleeps.

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Oh, and how are you tonight?
Wonderful piece on this lovely

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evening.
It's a wonderful evening, isn't

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it?
Yes, we have training.

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We had my middle kids 10th
birthday this morning.

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So this morning was a bit hectic
and the kids get on birthdays.

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Daddy, makes French toast.
Yes, I make a mean batch of

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french toast.
So nice.

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That was a bit crazy getting
everybody out and about this

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morning and getting that French
toast done and then I'm getting

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them to school but we're all
good.

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The rest of the day was
wonderful.

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Thank you, excellent.
Did you get caught up into any

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of this madness?
I meant to ask you when we were

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talking yesterday to get caught
up into any of this madness.

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I'm Garth Brooks.
I got the only way I got caught

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up with it was, I went to
brought the kids to the zoo on

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Saturday afternoon.
It was half price obviously, to

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encourage people to go because
Garth Brooks was on, but we are

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caught in the traffic going in.
So half the country was up and

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coming into town on Saturday
afternoon.

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So we got caught.
Yeah, but I do it on the way and

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I remember talking to Caribbean,
like I know one song Friends in

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Low Places, that's literally the
only one I've heard I could say,

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is his son.
Yeah, yeah, I kind of was like

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yeah, cheese.
The only things that I would

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know would be friends in low
places in achy, breaky heart and

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then sometimes we may Cyrus
host, Billy Ray Cyrus.

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Yeah, but no, just for those
that don't know out there

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outside of Ireland, that Garth
Brooks played five nights at

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Croke Park.
I've said it holds like 85,000

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people and there's this long
term love affair between Ireland

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and Garth Brooks and I was
introduced to Michelle Hoffman

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from Genesis Block Chain, couple
weeks.

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Ago.
And she was coming over to

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Dublin and she and I meant to
connect, and it didn't happen.

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But following up the email
afterwards, she's like, what's

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up with Garth Brooks?
Like how many concerts do you

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actually need and it's just
crazy.

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It's just some, you know, love
affair on again off again but

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I'm glad this is aren't as it
is.

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We must be his only Market, I
think so now.

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Well you know, it's a pretty big
Market with 300 million people

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in the US that are no, I know.
But I mean, how many?

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Like, that's what 400,000 fun.
Some Over the last two weekends

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or something?
Does he get that are equivalent

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in a couple of concerts over the
US?

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Yeah, that's one percent of the
u.s. well more than 1% of the US

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population.
So, you know, I doubt he's that

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popular in the u.s. so of
course, he loves coming over

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here.
Sorry.

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It's not more than one percent
of the u.s. population, that

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would be 43 million.
So more than 1.1 percent, have

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you doing my math correctly.
Thank you.

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But listen I am still reading
that Matthew ball book

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metaverse.
I've been working late again, I

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only get to read 45 minutes a
night before I fall asleep, when

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I go up to bed with my Kindle,
right?

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So but getting more and more
into the infrastructure side of

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things like, we talked about a
couple of weeks ago and came

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across a couple of different
references that he's making two

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players that we wouldn't even
think about one being Nvidia.

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Now, Invidia make these gpus
that we talked about a couple of

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weeks ago, these that are used
for or, you know, the graphical

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processing units for video games
that allow you to render these,

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you know, virtual 3D worlds,
whatever.

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But they're also building all
these utilities around doing

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even more of that.
And they're incredibly well,

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positioned and Sony are as well.
So many have done loads.

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So, Matthew ball is basically
listen.

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If you look at the Gaff am
companies Google Amazon,

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Facebook Apple Microsoft that
one of them over the next 10

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years is just going to fall off
because they're not.

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To be able to keep up with all
this that's going on.

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And they did just so much
infrastructure left to be built

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on that.
But I'm, I will hopefully get

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through the rest of the book
over the next week or two, but I

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will let you know on the final
conclusions from that but it's

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fascinating.
So, put it back in the show

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notes.
Again, it's definitely worth a

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read to get to kind of get your
head around, all this stuff and

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make it real and make it.
That how is, how is the world

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actually going to do this?
But speaking of infrastructure

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as well, just kicking off on the
stories, the etherium merge

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happened last week.
So that's where the proof of

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stake Network went into place.
It's equivalent.

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Violent of changing the engine
on a running car, you know,

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moving at 100 miles per hour, so
or 200 miles per hour.

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So that was, that was a big
achievement.

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There was actually a watch
party.

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So I woke up on Wednesday
morning, and I'm like, there's

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got to be something on.
And I just wanted to tap in to

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see what was going on.
So, it's like white Americans

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actually happened.
Yeah, emerge actually happened

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at about 7:30 on Wednesday
morning and the guys from Bank

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lists.
So, David Hoffman was hosting

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this YouTube live stream, watch
party with a bunch of people

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from the whole etherium
Community.

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Theorem Global Community, a guy
called super Fizz was in there

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as well.
And obviously, out of the 40

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people that were on screen, that
were who were participating in

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this and perhaps we're talking
on the live stream, one woman.

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Right?
Which is just indicative of this

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whole Community.
This whole ecosystem, right?

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But there were 40,000 people
watching the live stream and to

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watch as the proof of stake.
Network took over and these

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pandas came up onto the screen.
I think it was on the etherium

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virtual machine.
Perhaps I may be butchering that

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because I don't know what screen
it was, but it was this

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monitoring screen that you could
see a theory.

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Mm, live in action was
happening.

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And when the merge happened,
these pandas came up on screen

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in this old text designed
pictures.

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That we'd see back in the 90s,
there was actually a merge song

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that Someone had written it
sounded like the Barenaked

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Ladies.
I don't even remember them from

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like the 90s and 2000, and it
was, it was, it was ridiculously

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camp.
And but so what does it all

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mean?
Peace passionately.

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Want to know what it all means.
Okay?

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Basically 99% last electricity
consumption.

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Okay.
From the ethereum blockchain

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this stat.
Is that now there is 0.2 percent

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less energy in the world.
That is being consumed because

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of this switch from the
energy-intensive proof-of-work,

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blockchain, that etherium had
been running on for the last,

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what, seven years?
Eight years to the proof of

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stake chain.
Okay.

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What is all mean in the long
term?

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Vitalik, vitalik Patera, and who
is the the head of the etherium

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community and foundation and
everything having to do with,

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you know, one of the cofounders
of etherium said that In the

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past, before proof of stake,
aetherium had been dependent on

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the physical world very much
dependent on the physical world.

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So the gpus to be able to do the
mining very energy intensive and

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obviously, you know, people
having to look after that.

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Now it's become a lot more
virtual and that just means that

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it's laid.
The foundation for the etherium

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platform to really scale.
What it hasn't done is bring

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down the gas phase or the
transaction fees on the theorem

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Network because there's still a
lot more To do in order for that

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to happen.
But you know I did have the

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pleasure of sending Point 1 e 2
Mega fans one of the

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participants in the textures web
3 program that I ran earlier

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this year because they're doing
their nft mint and sending that

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usually would have generated.
And it's you know roughly about

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$150 150 Euro usually would have
generated.

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I don't know 25 or 30 worth of
Gatsby's generated, two dollars

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worth of gas fees or transaction
fees.

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Now from what I've been told
it's Science.

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It's just purely a coincidence
because this will not bring down

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the Gatsby's, but in the longer
term, there's going to be a lot

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more growth.
So I heard another voice that

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was now pointing at aetherium.
It's calling it The Lazy Man's

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crypto ETF in that.
When you buy a theory, mm, you

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get exposure to and of teas, you
get exposure to defy, you get

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exposure to all of these
different elements, different

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segments of web, three that are
building on a theorem.

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And I think, you know, the just
sets us up for More growth, all

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different types of perspectives
on this.

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But it's, you know, it was a big
achievement now that it's behind

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us.
I'm glad to say that it is

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because, you know, more Panda
songs, which were very, very

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goofy but the overall
communities in a better place

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Brent I was, I wasn't directly
paying attention to it, but it

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was rather, it was kept popping
up in my kind of Twitter a news

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feed because of the teal
Fellowship because obviously

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vitalik got funded through the
field Thiel Fellowship.

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And so did the guy whose name I
can't remember now?

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I'm looking it up who founded
figma?

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Which obviously was in the news
for being acquired by Adobe for

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20 billion.
Yep.

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So it was just, you know, they
were referencing the two

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together, given the timing of
boat kind of news announcements

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and stuff.
So pretty impressive.

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Anyway, everything that's going
on, but I need to do.

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I need to do some more thinking
about this.

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Right?
Kim Smith from techstars and

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shout out to Kim.
She's she's like, you know, tell

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me more tell me more what you
think about this?

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And I was talking to her last
night when I was at my kids

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soccer practice.
And I wasn't in Flow.

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But I got to, I got to think
more about this because I, it's

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it's critically important to how
the infrastructure around the

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metaverse will continue to
develop.

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Now, me saying that right now
with the best prediction for the

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true live, 3D version of the
internet arriving for us with

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all these different
infrastructure building on right

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now is say 20 30 to 10 years
from now.

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So it's very, very difficult for
me to sit here right now and say

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that the theory emerges that
happened last week is laying the

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foundation for the metaverse.
I think that's an incorrect

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statement but it's one of the
many many pieces because

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etherium compared to bitcoin
Theory.

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Mm is the utility layer
aetherium, is that the execution

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layer that people are building
on top of and web 3.

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And obviously there's quite a
number of other block change.

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Probably, you know, 2025 worth
writing about that are called

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the layer 1 block chains that
others build on as well.

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But etherium is the second
biggest Block Chain in the

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world.
The other one Bitcoin.

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Really build much on it.
So it's there is kind of its own

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thing, so park Bitcoin to one
side.

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It's incredibly important.
But etherium is incredibly

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useful as a network, as a
toolkit, as a utility, as an

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execution layer.
So there's so much ahead of us

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with this.
I could speculate for hours but

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given that we only have less
than an hour today.

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00:11:35,600 --> 00:11:41,100
Owen I'm going to I'm going to
park it, do some more thinking.

226
00:11:42,100 --> 00:11:44,000
Alright yeah I will do some more
thinking, I'll come back.

227
00:11:44,100 --> 00:11:45,800
Just like we did with the
flywheel right now.

228
00:11:45,800 --> 00:11:51,000
I got, you know, last year even
a year before or like the Disney

229
00:11:51,000 --> 00:11:53,000
flywheel.
There's something going on here

230
00:11:53,000 --> 00:11:56,100
in fintech and we figured it out
just by talking through it.

231
00:11:56,100 --> 00:11:58,300
So what we're going to keep
we're going to keep coming back

232
00:11:58,300 --> 00:12:03,600
to this.
With fintech next story on 2

233
00:12:03,600 --> 00:12:06,400
revolutes, right?
And you pointed this out to me

234
00:12:06,700 --> 00:12:10,000
last night, which revolute
rolled out there.

235
00:12:10,000 --> 00:12:16,400
Be n PL, which I call a bank
non-performing loan in Ireland.

236
00:12:16,500 --> 00:12:18,300
Ireland's great place to roll
out.

237
00:12:18,300 --> 00:12:20,900
New fintech in crypto apps
because we've got a highly

238
00:12:20,900 --> 00:12:24,400
educated Workforce and
population here, all that, you

239
00:12:24,400 --> 00:12:27,200
know, and highly concentrated
within Familia and of people

240
00:12:27,200 --> 00:12:28,600
that are working at all
different types of tech

241
00:12:28,600 --> 00:12:29,800
companies, and fintech
companies.

242
00:12:30,000 --> 00:12:31,600
He's in financial services and
startup.

243
00:12:31,600 --> 00:12:34,200
So good place for reviling to
roll this out right.

244
00:12:34,200 --> 00:12:35,900
But what's your, what's your
take on this?

245
00:12:36,700 --> 00:12:39,000
I like that.
I think it's just, I think it's,

246
00:12:39,600 --> 00:12:41,400
you know, they're not look,
there's a good market share

247
00:12:41,400 --> 00:12:43,400
here, whatever.
They've but I think a million to

248
00:12:43,408 --> 00:12:45,900
two million customers somewhere
somewhere in the middle there,

249
00:12:46,500 --> 00:12:49,300
but like that, it's rolling it
out on having it as their kind

250
00:12:49,300 --> 00:12:52,500
of test bed aren't out.
I need a problems fairly

251
00:12:52,500 --> 00:12:54,700
receptive audience here for a
lot of our products and

252
00:12:54,700 --> 00:12:56,900
features.
So I think that's really the

253
00:12:56,900 --> 00:12:59,500
drive behind us.
My saw another announcement of

254
00:12:59,500 --> 00:13:01,500
the needle.
At it earlier about the rolling

255
00:13:01,500 --> 00:13:04,100
out, some of their business
features into revolute Pro and a

256
00:13:04,100 --> 00:13:07,900
retail site live. 20 million
customers on the retail side and

257
00:13:07,900 --> 00:13:09,400
only half a million on the
business side.

258
00:13:09,400 --> 00:13:11,800
So they're starting to kind of
merge the two offering.

259
00:13:11,800 --> 00:13:15,000
So we might see more of this,
you know, the the sort of

260
00:13:15,000 --> 00:13:18,200
solutions are brought in on both
sides of the kind of revolute

261
00:13:18,200 --> 00:13:20,900
offering and they're available
to everybody and you start

262
00:13:20,900 --> 00:13:24,400
having more more functions and
it coming back to our flywheel,

263
00:13:24,400 --> 00:13:27,000
the more you can get from
revolute and the more you use it

264
00:13:27,200 --> 00:13:29,000
and the more you more, you bring
to it.

265
00:13:29,500 --> 00:13:32,100
And maybe It stops being a kind
of business offering and it just

266
00:13:32,100 --> 00:13:35,500
becomes, you know, I can do
whatever on it.

267
00:13:35,500 --> 00:13:37,700
Like we were talking about with
cash app and they're kind of

268
00:13:37,700 --> 00:13:41,400
closed loop Merchant solution
because if the merchant is using

269
00:13:41,400 --> 00:13:43,800
it on one side for business and
the customer is using on the

270
00:13:43,800 --> 00:13:46,700
other side and I don't need to
go to your bank and I'd say

271
00:13:46,700 --> 00:13:49,200
revolute are trying to do that
by bringing out more kind of

272
00:13:49,208 --> 00:13:51,700
features.
Yeah yeah I tried it this

273
00:13:51,700 --> 00:13:55,500
morning.
Oh yes I yep I tried it's you

274
00:13:55,500 --> 00:13:58,400
know simple like it says in the
article you just go right to the

275
00:13:58,400 --> 00:14:01,400
main menu in your ooh, app and
where they've got all the

276
00:14:01,400 --> 00:14:03,100
different icons in there and you
pay later.

277
00:14:03,500 --> 00:14:05,800
It literally took 2 minutes to
set up, right?

278
00:14:05,900 --> 00:14:10,800
It was then a three to five
minute, wait to get approved for

279
00:14:10,900 --> 00:14:16,500
a pay later line of 499 Euro.
So that offer was put in front

280
00:14:16,500 --> 00:14:18,900
of me.
The way that they do it though,

281
00:14:19,100 --> 00:14:24,700
is that I needed to connect to
the true layer API that connects

282
00:14:24,700 --> 00:14:27,900
revolute to my Bank of Ireland
account.

283
00:14:28,500 --> 00:14:32,900
And that all of the data in my
Bank of Ireland account when in

284
00:14:32,900 --> 00:14:36,300
2 revolutes hands for and I'll
come back to this in a minute

285
00:14:36,300 --> 00:14:38,900
for them to be able to do a
quick assessment of my inflows

286
00:14:38,900 --> 00:14:42,200
and outflows to see if I was
eligible for the maximum of up

287
00:14:42,200 --> 00:14:44,300
to four ninety-nine and it gave
me the 499.

288
00:14:44,900 --> 00:14:52,500
Now, I thought that okay, this
just happened and you then get

289
00:14:52,500 --> 00:14:54,300
the notification to accept the
offer.

290
00:14:54,700 --> 00:14:57,700
There's an extremely long
standard European Consumer

291
00:14:57,700 --> 00:15:00,600
Credit.
Mason agreement that you have to

292
00:15:00,600 --> 00:15:05,700
agree to and then the same for
an actual pay later agreement

293
00:15:05,700 --> 00:15:08,600
that you have to agree to and
loads of terms and conditions

294
00:15:08,600 --> 00:15:12,000
and I'm sure nobody's reading
this, that's the Trojan Horse.

295
00:15:12,000 --> 00:15:14,200
They just want my bank data,
right?

296
00:15:14,200 --> 00:15:17,900
That's what they're in this for.
Is that the cash flow, how I'm

297
00:15:17,900 --> 00:15:21,500
spending, how?
I'm saving, but good luck

298
00:15:21,500 --> 00:15:25,000
figuring out where my money is
going, because the Bank of

299
00:15:25,000 --> 00:15:27,600
Ireland descriptions on each one
to the transactions, I don't

300
00:15:27,600 --> 00:15:30,400
even I can't even though you can
tell that Bank of Ireland app,

301
00:15:30,700 --> 00:15:34,900
right?
So, you know, but the big thing

302
00:15:34,900 --> 00:15:37,400
though is I didn't accept the
offer, I shut it off.

303
00:15:37,400 --> 00:15:39,600
I don't trust revolute with my
data, right?

304
00:15:39,600 --> 00:15:42,000
For the reasons, I've discussed
in the past or that I've refused

305
00:15:42,000 --> 00:15:44,200
to discuss in the past.
I don't trust him with my data

306
00:15:44,900 --> 00:15:47,600
lo and behold, I go to look at
the very next story that we're

307
00:15:47,600 --> 00:15:50,800
going to talk about Owen and
something pops up on TechCrunch

308
00:15:50,800 --> 00:15:54,500
that says revolute confirms
Cyber attack exposed personal

309
00:15:54,500 --> 00:15:59,100
data of tens, of thousands of
users only, but, um, Right.

310
00:15:59,200 --> 00:16:01,600
And I'm like, okay even though
it was something like I don't

311
00:16:01,600 --> 00:16:03,500
know if 40,000 users or
something like that, that's

312
00:16:03,500 --> 00:16:07,400
still a lot of users.
So I think I made the right

313
00:16:07,400 --> 00:16:10,600
decision this morning and I
won't be using it, but I can

314
00:16:10,600 --> 00:16:12,200
confirm for those that want to
use it.

315
00:16:12,400 --> 00:16:15,000
It was a very simple.
Easy straightforward process is

316
00:16:15,000 --> 00:16:18,500
just buyer beware, right?
Yeah, I don't know what's it

317
00:16:18,500 --> 00:16:21,000
like, it's really like that.
It's really impressive being

318
00:16:21,000 --> 00:16:23,600
able to roll it out that quickly
because the reality is the

319
00:16:23,600 --> 00:16:26,100
issues.
You're you know you can't access

320
00:16:26,300 --> 00:16:28,100
these sort of products on the
other side, you know?

321
00:16:28,200 --> 00:16:30,300
Bank of Ireland control.
Something like this out for you.

322
00:16:30,600 --> 00:16:33,300
So being able to have revolute
and then like that connect them

323
00:16:33,300 --> 00:16:36,600
into your account and give them
access to your main account to

324
00:16:36,600 --> 00:16:39,500
be to do that quick assessment.
I mean, it's pretty cool.

325
00:16:39,900 --> 00:16:43,400
Now, you know, the other side of
it is there's only I think Clara

326
00:16:43,400 --> 00:16:46,100
are at the moment.
Looking to securitize their buy.

327
00:16:46,100 --> 00:16:48,600
Now pay later loan book and sell
it in the market and having a

328
00:16:48,608 --> 00:16:50,900
bit of trouble with that.
I saw it on one of the other

329
00:16:50,900 --> 00:16:54,200
news sites.
So, you know, it's not an, it's

330
00:16:54,200 --> 00:16:57,200
not an attractive product to
have sitting on your book.

331
00:16:57,300 --> 00:16:58,100
In that sense.
Yeah.

332
00:16:58,200 --> 00:17:00,700
House bank non-performing loan?
Yes.

333
00:17:00,700 --> 00:17:05,500
Ed or a bank is not performing
load if your clarinet right?

334
00:17:05,500 --> 00:17:06,400
Yeah.
No.

335
00:17:06,400 --> 00:17:08,500
Really interesting one because
obviously, you know, we're

336
00:17:08,500 --> 00:17:11,000
seeing more and that space has
been more announcements about

337
00:17:11,000 --> 00:17:11,599
it.
I'll see.

338
00:17:11,599 --> 00:17:14,400
Even this week.
We had HSBC putting a big chunk

339
00:17:14,400 --> 00:17:17,599
of money into monies, you know,
there's still a lot of interest

340
00:17:17,599 --> 00:17:20,000
in the kind of meal Bank space
and the offerings there.

341
00:17:20,400 --> 00:17:23,000
But again, they need to build
out more products, offer more

342
00:17:23,000 --> 00:17:25,400
products and continue to build
scale.

343
00:17:25,800 --> 00:17:28,000
So that's the challenge.
Yeah, yeah.

344
00:17:28,200 --> 00:17:31,300
And the infrastructure is so
critical to scale and and

345
00:17:31,600 --> 00:17:34,800
speaking of infrastructure I'm
just seeing that it again is

346
00:17:34,800 --> 00:17:37,600
more continuing Trend and that
was just coming out of the hole

347
00:17:37,600 --> 00:17:40,700
techstars experience for me is
that we really focused on

348
00:17:40,700 --> 00:17:45,700
projects in web three that users
could understand right and that,

349
00:17:45,700 --> 00:17:48,000
you know, to make web three more
accessible.

350
00:17:48,400 --> 00:17:52,300
And that would also have a token
at the core of their value

351
00:17:52,300 --> 00:17:55,500
proposition on how they
incentivize users and Builders

352
00:17:55,500 --> 00:17:58,600
okay.
With our approach.

353
00:17:58,600 --> 00:18:02,200
The first time around, we left
behind any infrastructure

354
00:18:02,200 --> 00:18:04,700
players.
Those that might be more

355
00:18:04,700 --> 00:18:08,000
difficult to explain to people,
but also that, you know,

356
00:18:08,400 --> 00:18:12,000
basically would operate on, more
of a web to type of business

357
00:18:12,000 --> 00:18:13,000
model.
Okay?

358
00:18:13,400 --> 00:18:16,800
So, you know, I've been thinking
more and more and more about

359
00:18:16,800 --> 00:18:18,600
this and I'm seeing more and
more evidence that a lot of

360
00:18:18,608 --> 00:18:20,300
other people are doing the same,
okay?

361
00:18:20,300 --> 00:18:23,800
So, doubling down on that
infrastructure side, I saw

362
00:18:24,100 --> 00:18:29,400
Andreessen Horowitz are a 16z is
They LED London, fintech

363
00:18:29,400 --> 00:18:32,100
sequences 19 million dollar seed
round.

364
00:18:32,100 --> 00:18:34,100
That's a big seed round.
It was a big seed round from to

365
00:18:34,108 --> 00:18:36,400
do to Europe, you know.
Did they are not known to be

366
00:18:36,400 --> 00:18:38,100
very active in Europe?
Yeah.

367
00:18:38,200 --> 00:18:40,300
Yeah.
They used to and we'll get to

368
00:18:40,300 --> 00:18:43,200
the next one in a minute.
But what sequence do is billing

369
00:18:43,200 --> 00:18:45,700
and payment simplified for
platforms with analytics.

370
00:18:45,700 --> 00:18:49,400
So, when you're doing deliver
roof for example, that payment

371
00:18:49,400 --> 00:18:53,100
needs to be split for when I pay
for food, that payment needs to

372
00:18:53,100 --> 00:18:55,200
be split between a tip going to
the driver.

373
00:18:55,900 --> 00:18:58,800
The restaurant themselves and
then deliver to deliver.

374
00:18:58,800 --> 00:19:01,500
Ooh.
So for every, you know, 50 Euro

375
00:19:01,500 --> 00:19:04,300
worth of sushi that I order
there is that split and keeping

376
00:19:04,300 --> 00:19:08,300
track of those analytics related
to who's getting what who's

377
00:19:08,300 --> 00:19:11,600
getting, how much of that 50
Euro and what are my own

378
00:19:11,600 --> 00:19:15,200
Tendencies on what I'm spending.
And because that order that that

379
00:19:15,200 --> 00:19:17,100
payment is split.
It's like, well, it's not just

380
00:19:17,100 --> 00:19:21,100
50 Euro that is driving.
This, it's 37 year or whatever

381
00:19:21,100 --> 00:19:23,200
the split is, right?
That is actually attributable to

382
00:19:23,200 --> 00:19:27,800
what, to what I've bought.
So this Is this is a big move

383
00:19:27,900 --> 00:19:29,800
from an infrastructure
perspective.

384
00:19:30,400 --> 00:19:33,100
Like I said, I'm seeing the same
thing in web three with kind of

385
00:19:33,100 --> 00:19:35,600
my thoughts around this, in the
direction of the thesis and

386
00:19:35,600 --> 00:19:38,800
where I'm heading.
But again, I think the hidden

387
00:19:38,900 --> 00:19:41,900
the hidden thing in this story
about what sequence are doing

388
00:19:41,900 --> 00:19:45,100
with our 19 million seed round.
Is that the real nugget in this

389
00:19:45,100 --> 00:19:49,100
whole story?
Was that a 16z had a strong

390
00:19:49,100 --> 00:19:51,500
signal from the later.
Stage startup Founders that were

391
00:19:51,500 --> 00:19:54,100
investing as Angels.
So everyone kind of seeing that

392
00:19:54,100 --> 00:19:56,900
this is something that is This
is necessary.

393
00:19:56,900 --> 00:20:00,600
So plaid intercom Jeeves, go,
cardless, marshmallow lendable

394
00:20:00,600 --> 00:20:03,500
hop in uipath, Manzano and
comply Advantage.

395
00:20:03,900 --> 00:20:06,600
The founders of those companies
were those within the founding

396
00:20:06,600 --> 00:20:09,900
teams are all angels in this
round, okay sequence, right?

397
00:20:09,900 --> 00:20:12,800
It's a big.
So that's that's a big, big

398
00:20:12,800 --> 00:20:16,900
signal, right.
And so there's no shortage of

399
00:20:17,200 --> 00:20:20,000
payment, infrastructure
companies out there, but like

400
00:20:20,000 --> 00:20:21,600
that.
Yeah, there's not when you've

401
00:20:21,600 --> 00:20:24,300
when you've cohort like that put
in the money and they clearly

402
00:20:24,300 --> 00:20:26,800
know or they see something.
Yes, isn't obvious from the

403
00:20:26,808 --> 00:20:29,600
outside as to the direction,
these guys are going and the

404
00:20:29,608 --> 00:20:30,800
value.
They're going to add to it.

405
00:20:31,100 --> 00:20:32,100
Yep.
Yep.

406
00:20:32,100 --> 00:20:37,500
Definitely similar on also for a
16z, another deal that they did

407
00:20:37,500 --> 00:20:39,900
this was just announced
yesterday and this was in

408
00:20:39,900 --> 00:20:43,700
TechCrunch.
So sardine raised 50 1.5 million

409
00:20:43,700 --> 00:20:47,700
in their Series be led by a 16z
to sniff out.

410
00:20:47,700 --> 00:20:50,300
Fishy fintech transactions.
I'm like, is that where the name

411
00:20:50,300 --> 00:20:53,300
sardine came from?
You're trying to find it.

412
00:20:53,500 --> 00:20:55,200
The stinky transactions in
there.

413
00:20:55,800 --> 00:21:00,600
And this is what they do, is
they use behavioral financial

414
00:21:00,600 --> 00:21:04,300
and device specific user data to
detect fraud on behalf of its

415
00:21:04,300 --> 00:21:06,100
clients in the crypto and fin
tech industry.

416
00:21:06,100 --> 00:21:09,900
So, plugging into those that
have direct consumer user bases,

417
00:21:09,900 --> 00:21:14,400
in fintech and crypto, and the
very interesting stat that came

418
00:21:14,400 --> 00:21:18,600
out of this piece that I'm very
much aligned with is that 90% of

419
00:21:18,600 --> 00:21:20,400
fraud detected.
On sardines.

420
00:21:20,400 --> 00:21:23,300
Customers platforms comes from
individuals have already passed

421
00:21:23,300 --> 00:21:26,500
the kyc process.
So what that means Is that you

422
00:21:26,500 --> 00:21:29,000
could sign up for an account,
you could pass the kyc, you've

423
00:21:29,000 --> 00:21:32,000
got your utility statement, you
got your passport but you know,

424
00:21:32,200 --> 00:21:35,500
you can get through that process
and whether that was you, who

425
00:21:35,500 --> 00:21:38,200
actually was that person that
signed up or not.

426
00:21:38,200 --> 00:21:42,900
Obviously but post that set up
the ability to then undertake

427
00:21:42,900 --> 00:21:46,100
fraudulent activities.
That's what sardine is really in

428
00:21:46,100 --> 00:21:48,800
there to sniff out this inside
this you know this is lots of

429
00:21:48,808 --> 00:21:51,300
different layers to it.
It's you know you can still I

430
00:21:51,300 --> 00:21:54,300
can sign up with me and here's
my details but I could be

431
00:21:54,300 --> 00:21:55,700
laundering the money on behalf
of someone.

432
00:21:55,900 --> 00:21:58,200
It's been a couple of cases like
that in the court are recently

433
00:21:58,200 --> 00:22:00,900
even in Ireland where people
have been, you know, they've

434
00:22:00,900 --> 00:22:03,300
been the account used by someone
to launder money.

435
00:22:03,300 --> 00:22:05,800
So the account is a legitimate
account but the fought the

436
00:22:05,800 --> 00:22:08,600
proceeds going through or so.
Not like in that example there,

437
00:22:08,700 --> 00:22:11,500
you know, there's obviously
plenty people are signing up as

438
00:22:11,500 --> 00:22:14,800
legitimate accounts getting past
the kyc, because it's correct,

439
00:22:15,400 --> 00:22:17,000
but it's actually the
transaction Behavior.

440
00:22:17,000 --> 00:22:19,900
Then is the bit that they need
to try to figure out yep.

441
00:22:20,000 --> 00:22:21,100
Yep, no.
Absolutely.

442
00:22:21,100 --> 00:22:24,500
And they are, you know, the
simplest example I went through

443
00:22:24,500 --> 00:22:29,000
this with a, with a With trading
app once where I moved in a

444
00:22:29,008 --> 00:22:31,800
bunch of money and that I was
going to trade on.

445
00:22:32,300 --> 00:22:35,600
And then I said, you know what,
I'm actually not sure about this

446
00:22:35,600 --> 00:22:37,400
provider.
I'm not going to do that.

447
00:22:37,400 --> 00:22:39,300
I'm going to go off and do some
more research.

448
00:22:39,500 --> 00:22:43,900
So I moved the money back and I
got a call pretty quick saying,

449
00:22:44,200 --> 00:22:48,100
okay, we just want to check on
this source of funds because you

450
00:22:48,100 --> 00:22:50,500
move money in and then you took
it out really quickly, which is

451
00:22:50,600 --> 00:22:52,800
obviously, you know, are you
laundering money through the

452
00:22:52,800 --> 00:22:54,200
account?
And I'm like, no.

453
00:22:54,200 --> 00:22:56,500
I was just unsure about whether
or not You wanted to use your

454
00:22:56,500 --> 00:23:00,800
crappy app, but that that's, you
know, that was a manual alert

455
00:23:00,800 --> 00:23:04,100
that went off.
And what sardine is doing, is

456
00:23:04,100 --> 00:23:06,800
obviously far more automated
with our apis, to find these

457
00:23:06,800 --> 00:23:07,900
types of things.
Right?

458
00:23:07,900 --> 00:23:10,300
I looked as a lot of commentary
out there but fintech in

459
00:23:10,300 --> 00:23:12,100
particular, having a foot fraud
issue.

460
00:23:12,800 --> 00:23:15,400
I've seen it from Ron shevlin
and a few others have written

461
00:23:15,400 --> 00:23:17,900
kind of pieces out about this
being an issue because obviously

462
00:23:17,900 --> 00:23:20,100
the speed at which you can sign
up accounts and it all being

463
00:23:20,100 --> 00:23:22,000
done, automatically as much as
possible.

464
00:23:22,200 --> 00:23:25,100
They're not picking up on as
much and you see people using

465
00:23:25,100 --> 00:23:27,500
multiple Counts in multiple
different providers, that sort

466
00:23:27,500 --> 00:23:30,500
of thing.
And then, even with things like,

467
00:23:30,500 --> 00:23:32,900
you know, buy now pay later, for
example, with those stutter

468
00:23:32,900 --> 00:23:35,700
stuff, not being or as had
historically not been kind of

469
00:23:35,708 --> 00:23:38,200
shared with the credit bureaus.
Then people were being able to

470
00:23:38,200 --> 00:23:40,900
kind of work around building.
A baxter Dash in different

471
00:23:40,900 --> 00:23:42,700
peoples names and stuff like
that because it wasn't been

472
00:23:42,700 --> 00:23:44,800
reported to the bureau's.
So the bank's weren't aware of

473
00:23:44,800 --> 00:23:47,400
it has loads of different ways.
Obviously that's fraud is

474
00:23:47,400 --> 00:23:49,100
becoming an issue in the fintech
space.

475
00:23:49,100 --> 00:23:51,400
So it's great to see what the
guys and kind of Sardine or

476
00:23:51,408 --> 00:23:53,200
doing.
It'll be cool to try.

477
00:23:53,200 --> 00:23:55,300
Reach out and get Simon Taylor
on to talk about it.

478
00:23:55,600 --> 00:23:59,000
Yeah, yeah, absolutely Simon.
So having moved from Allah, A

479
00:23:59,000 --> 00:24:02,300
fast which he still listed as a
co-founder of, but now I think

480
00:24:02,300 --> 00:24:06,100
head of strategy for sardines
and he put this tweet out

481
00:24:06,100 --> 00:24:09,800
yesterday as but you know, they
go beyond the fraud side of

482
00:24:09,800 --> 00:24:13,100
things as well is that they have
instant ACH which is automated

483
00:24:13,100 --> 00:24:16,600
Clearing House in the u.s. so
that you can eat your on-ramp

484
00:24:16,600 --> 00:24:22,100
for providing Fiat into crypto.
So they allow users to purchase

485
00:24:22,100 --> 00:24:24,600
over 30 different crypto assets
instantly.

486
00:24:24,700 --> 00:24:28,500
And if those crypto platforms
are connected to obviously,

487
00:24:28,500 --> 00:24:31,800
sorry, Gene's utilities rather
than having to wait, you know?

488
00:24:31,800 --> 00:24:34,400
But a day or two for access to
your funds.

489
00:24:34,400 --> 00:24:39,200
They also have the direct Fiat
nft check out in partnership

490
00:24:39,200 --> 00:24:41,300
with Tom Brady's company
autograph, which I thought was

491
00:24:41,300 --> 00:24:42,600
pretty cool.
That's pretty good.

492
00:24:42,600 --> 00:24:45,300
And, you know, they're going out
to other entity marketplaces

493
00:24:45,300 --> 00:24:46,500
with that.
So that's right out of the

494
00:24:46,500 --> 00:24:50,200
article from TechCrunch.
So it was you know and it's

495
00:24:51,500 --> 00:24:53,400
feels like you can't just do one
thing anymore.

496
00:24:54,100 --> 00:24:58,200
You need to do one thing really
well to get to Market, but then

497
00:24:58,200 --> 00:25:02,300
you need to To solve the
adjacent problems next to your

498
00:25:02,300 --> 00:25:04,600
customer base.
So those customers you're

499
00:25:04,600 --> 00:25:06,600
bringing in.
What are there?

500
00:25:06,600 --> 00:25:08,300
Other headaches, what else can
you do?

501
00:25:08,400 --> 00:25:11,400
Listen to a great podcast
totally outside of fintech for

502
00:25:11,400 --> 00:25:14,400
this yesterday.
As I was walking around, while,

503
00:25:14,500 --> 00:25:16,700
you know, at my son's soccer
practice after I finish the chat

504
00:25:16,700 --> 00:25:20,800
with Kim, it was I think, Trina
Spire Spiner from the business.

505
00:25:20,800 --> 00:25:26,300
Figs and figs do scrubs, right?
Okay, so medical professionals

506
00:25:26,400 --> 00:25:29,600
attire that they wear during the
day and she I said they moved

507
00:25:29,600 --> 00:25:32,500
from, you know, think they got
deep inside the customer base

508
00:25:32,500 --> 00:25:36,100
because what it used to be.
Was that just these pullover

509
00:25:36,100 --> 00:25:37,800
tops?
You're wearing these drawstring,

510
00:25:37,800 --> 00:25:42,200
trousers, the size of your top
was on the back of your top.

511
00:25:42,200 --> 00:25:44,800
So everybody knew whether you
were small medium, large or

512
00:25:44,800 --> 00:25:48,200
extra large right now, you know,
it's some people care about that

513
00:25:48,200 --> 00:25:52,000
and some people don't so but but
still, you know, that can be

514
00:25:52,000 --> 00:25:55,300
sensitive.
And a woman was saying that she

515
00:25:55,400 --> 00:25:58,700
had to put her wedding ring on
her bra strap.

516
00:25:58,900 --> 00:26:00,900
A clip it to her bra strap
because she had nowhere else to

517
00:26:00,900 --> 00:26:03,200
put it because you didn't want
to wear her wedding ring when

518
00:26:03,200 --> 00:26:05,000
she's looking after patients.
Right course.

519
00:26:05,100 --> 00:26:09,500
So what what figs did was they
got deep inside the customer

520
00:26:09,500 --> 00:26:11,900
mind to figure out what they
really wanted and they sold

521
00:26:11,900 --> 00:26:14,300
those initial few products just
to get going.

522
00:26:14,600 --> 00:26:16,500
But now they sell everything
right?

523
00:26:16,500 --> 00:26:19,400
Everything that a medical
professional, then their attire

524
00:26:19,400 --> 00:26:21,900
that they may want because they
want to make excellent products

525
00:26:21,900 --> 00:26:24,700
for people and to support this
community of medical

526
00:26:24,700 --> 00:26:27,400
professionals and make them more
comfortable with what they're

527
00:26:27,400 --> 00:26:28,900
doing every day, right?
Right?

528
00:26:28,900 --> 00:26:32,100
So, you know, in taking that
same approach here with the

529
00:26:32,108 --> 00:26:35,600
sardines, it's Simon.
I don't know if he'll listen to

530
00:26:35,600 --> 00:26:39,700
this fight going on down in
angle of comparing sardines to

531
00:26:40,000 --> 00:26:42,400
Scrubs.
Yeah, you just keep building and

532
00:26:42,400 --> 00:26:45,000
you solve those problems
adjacent to your customers.

533
00:26:45,000 --> 00:26:48,600
Now with sardines ever say Hey
listen, we see our customers.

534
00:26:48,600 --> 00:26:50,800
That are these crypto platforms
that are these fintech

535
00:26:50,800 --> 00:26:52,900
platforms.
They're having other problems

536
00:26:52,900 --> 00:26:55,800
with perhaps how they connect to
AWS know.

537
00:26:55,800 --> 00:26:57,800
They may not go out and solve
that because that's not going to

538
00:26:57,800 --> 00:26:59,300
be within their core.
These that.

539
00:26:59,300 --> 00:27:02,300
But they would continue to solve
problems along the side of how

540
00:27:02,300 --> 00:27:04,500
those customers engage with the
tools.

541
00:27:04,500 --> 00:27:06,800
They need, that are really
important to their customers,

542
00:27:07,100 --> 00:27:10,700
right?
So which a scenario where they

543
00:27:10,700 --> 00:27:13,700
could help their companies, then
on whatever reporting

544
00:27:13,700 --> 00:27:17,000
requirements they have.
So yeah in terms of whoever to

545
00:27:17,000 --> 00:27:19,300
reporting it to the regulator
whatever dust, you know they

546
00:27:19,300 --> 00:27:21,100
build additional functionality
to say.

547
00:27:21,100 --> 00:27:24,300
Okay well this is how we know
you need to use this information

548
00:27:24,400 --> 00:27:27,600
internally and externally.
So we're already covering you

549
00:27:27,600 --> 00:27:30,100
internally in terms of Reporting
capability or whatever.

550
00:27:30,100 --> 00:27:32,400
But here's the next step of it
is, well, this is how we can

551
00:27:32,400 --> 00:27:35,100
package it up for you in terms
of what the regulator is looking

552
00:27:35,100 --> 00:27:38,500
for from you or the data for
commissioner or whoever that's a

553
00:27:38,500 --> 00:27:41,200
great point.
Because in order to do

554
00:27:41,500 --> 00:27:46,800
anti-fraud, you need really
strong data sets and if you can

555
00:27:46,900 --> 00:27:51,700
ensure that you're doing the
right type of anti-fraud checks,

556
00:27:52,600 --> 00:27:55,700
On that data, that data is going
to be strong enough to be able

557
00:27:55,700 --> 00:27:58,200
to use for that type of
regulatory reporting.

558
00:27:58,200 --> 00:28:02,600
Now, that's a big leap of logic
right there that you know, from

559
00:28:02,600 --> 00:28:08,300
my past that isn't always true.
But I've you know, there's a

560
00:28:08,300 --> 00:28:11,300
strong sign there of what else
they may be able to do.

561
00:28:11,300 --> 00:28:16,200
So listen we hadn't talked about
sardines much before and but I

562
00:28:16,200 --> 00:28:18,800
thought it was worth it with
their 51.5.

563
00:28:18,800 --> 00:28:21,100
Millions.
Here's the big endorsement.

564
00:28:21,100 --> 00:28:24,000
Yeah, yeah, to go after So
awesome, awesome to see that

565
00:28:24,000 --> 00:28:27,700
happening.
One other one, we talked about

566
00:28:27,700 --> 00:28:33,100
this before the board a yacht
club and FTS are more than just

567
00:28:34,000 --> 00:28:38,200
a, you know, a community, a
digital, a virtual community of

568
00:28:38,200 --> 00:28:40,900
collectors of these?
Well they are digital

569
00:28:40,900 --> 00:28:45,600
Collectibles that aboard a yacht
club in ftes and you know of

570
00:28:45,700 --> 00:28:49,700
incredibly high value or and
many of them are right now but a

571
00:28:49,800 --> 00:28:53,300
board ape Theory.
Mm nft owner Is launching a real

572
00:28:53,300 --> 00:28:56,700
world yacht club.
Now, I had heard that there was

573
00:28:56,700 --> 00:28:59,600
a board, a Piat Club being built
in Miami and I don't know what

574
00:28:59,600 --> 00:29:01,300
happened to that.
I didn't look into it a little

575
00:29:01,300 --> 00:29:05,700
bit, you know, after I saw this
story, but this is from decrypt

576
00:29:05,700 --> 00:29:08,500
via, Lex, auckland's, fintech
blueprint, where he referenced

577
00:29:08,500 --> 00:29:13,300
this, and that someone is
actually starting with the first

578
00:29:13,300 --> 00:29:17,500
yacht called a lady, Amanda that
holders, you can actually make

579
00:29:17,500 --> 00:29:21,500
use of.
So for those owners of Yachts

580
00:29:21,600 --> 00:29:24,600
that are bored, Whether yacht,
they can make them available as

581
00:29:24,600 --> 00:29:27,500
part of this club.
So, connecting the virtual world

582
00:29:27,500 --> 00:29:31,500
to the real world through yachts
and to really give a shout-out

583
00:29:31,500 --> 00:29:34,600
to you need to give a shout out
to my buddy, human GE.

584
00:29:34,600 --> 00:29:38,200
He took me out on his yacht with
with two of my three kids a

585
00:29:38,200 --> 00:29:40,200
couple weeks ago off out of
hope.

586
00:29:40,200 --> 00:29:42,900
So got the kids doing a little
bit of fishing and jumped in the

587
00:29:42,908 --> 00:29:45,700
water for a quick swim and
harbor, which was, which was

588
00:29:45,700 --> 00:29:47,400
pretty cool.
But yeah, there's, you know,

589
00:29:47,400 --> 00:29:50,200
that was a one that I just
picked up towards the end of my

590
00:29:50,200 --> 00:29:52,200
troll through the stories this
morning.

591
00:29:53,300 --> 00:29:56,700
I had one other one, it was more
interesting because sort of the

592
00:29:56,700 --> 00:29:59,400
fintech start to power.
This is on TechCrunch in the

593
00:29:59,400 --> 00:30:01,600
last week.
Yeah I saw that it's a credit

594
00:30:01,600 --> 00:30:05,000
card full stack, credit card
issuance platform a year in

595
00:30:05,000 --> 00:30:08,900
stealth mode did 16 million in
seed funding 300 million in

596
00:30:08,900 --> 00:30:11,800
credit from Ann Thomas Plug and
Play.

597
00:30:11,800 --> 00:30:14,700
A number of Angel Investors, I
thought this is interesting

598
00:30:14,700 --> 00:30:17,100
because obviously we've talked
about the likes of bricks and

599
00:30:17,100 --> 00:30:19,800
others and this is like, you
know, create your own credit

600
00:30:19,800 --> 00:30:23,300
card offering for Brands.
And You know, Banks, but

601
00:30:23,300 --> 00:30:26,600
actually where there were two,
CEO saying, the see the market

602
00:30:26,600 --> 00:30:29,300
is obviously Brands being able
to offer Their Own Credit Card.

603
00:30:29,300 --> 00:30:32,200
They're branded kind of credit
card functionality for their own

604
00:30:32,200 --> 00:30:34,800
customers.
Really crowded space.

605
00:30:34,800 --> 00:30:37,900
So we, you know, big announce it
like that means again, similar

606
00:30:37,900 --> 00:30:41,900
to the the other a 1601 this
sequence that's the one

607
00:30:41,900 --> 00:30:44,200
sequencer sardines sequence.
That was on.

608
00:30:44,200 --> 00:30:47,300
Yeah again big announcement some
big names backing at you'd

609
00:30:47,300 --> 00:30:48,400
Wonder.
Okay well how are they

610
00:30:48,400 --> 00:30:51,200
different?
Bricks, which has been around a

611
00:30:51,200 --> 00:30:54,000
lot and some of the others that
are out there and it seems that

612
00:30:54,000 --> 00:30:57,900
the play here on this one and it
seems to play with any of these

613
00:30:57,900 --> 00:31:01,200
chronic corporate credit cards
is on expense management and the

614
00:31:01,200 --> 00:31:06,100
more you can get embedded or
integrated on the payroll side

615
00:31:06,100 --> 00:31:09,000
with some of these corporates,
you know, there's your kind of

616
00:31:09,000 --> 00:31:12,800
Treasure Trove of data and
access to information and it

617
00:31:12,800 --> 00:31:17,300
becomes an a kind of Finance
solution, as opposed to, you

618
00:31:17,300 --> 00:31:19,400
know, a credit card or what
appears to be a simple kind of

619
00:31:19,408 --> 00:31:20,900
credit card.
Or corporate card.

620
00:31:20,900 --> 00:31:23,700
Totally totally.
Yeah, I see that.

621
00:31:23,700 --> 00:31:25,400
It's an interesting technique.
Like we're talking about there

622
00:31:25,400 --> 00:31:28,200
with sardines, it's moving up to
not to supply chain but getting

623
00:31:28,200 --> 00:31:31,400
further embedded into the kind
of core of our business.

624
00:31:31,700 --> 00:31:35,000
You know through what you could
argue is like a trojan horse in

625
00:31:35,000 --> 00:31:37,400
the corporate card in this
example.

626
00:31:38,100 --> 00:31:39,600
Yep.
You get so much spending

627
00:31:39,600 --> 00:31:42,400
information out of that and
that's kind of, you know, the

628
00:31:43,100 --> 00:31:46,200
it's kind of looking at that at
that way Flyer model and saying,

629
00:31:46,200 --> 00:31:52,400
how do you provide Financial
Services In a way that lets you

630
00:31:52,400 --> 00:31:57,400
mind data to improve the risk
profile for yourself and

631
00:31:57,400 --> 00:31:59,000
providing those financial
services.

632
00:31:59,200 --> 00:32:02,000
Yep, corporate credit cards.
Analytics platforms for

633
00:32:02,000 --> 00:32:03,800
e-commerce.
Right.

634
00:32:03,800 --> 00:32:09,800
But hey, that's the idea here
is, you know, data is a rich

635
00:32:09,800 --> 00:32:14,700
thing that you can make a lot of
use of so go for it, right?

636
00:32:15,400 --> 00:32:18,000
So just some of those interests
in one big announcement fig

637
00:32:18,000 --> 00:32:20,900
funding in a Crowded space one
to keep an eye on.

638
00:32:21,000 --> 00:32:24,200
Yep, yep.
And and it feels like 2001-2002

639
00:32:24,200 --> 00:32:26,300
all over again.
Now, you know, honestly, 20

640
00:32:26,300 --> 00:32:28,800
years ago, was I have the
mindset to be thinking about, oh

641
00:32:28,808 --> 00:32:30,800
my God, we just had a
massive.com crash.

642
00:32:30,800 --> 00:32:33,400
And of course, there's going to
be a huge amount of network

643
00:32:33,400 --> 00:32:36,400
infrastructure now built, but
now I'm thinking about it and

644
00:32:36,400 --> 00:32:39,100
seeing it all happen, it's just
very reminiscent.

645
00:32:39,100 --> 00:32:42,500
And that reminds me that it's
happened before it will happen

646
00:32:42,500 --> 00:32:45,600
again, the world moves in
Cycles, so they'll be another

647
00:32:45,600 --> 00:32:47,000
run up.
They'll be another downfall

648
00:32:47,000 --> 00:32:50,000
after this and, you know,
hopefully, The world will not go

649
00:32:50,000 --> 00:32:53,500
insane.
I'm not happy note on that.

650
00:32:53,500 --> 00:32:56,900
Happy, note this fine evening.
So pleasure is always eat at

651
00:32:56,900 --> 00:32:58,500
their for this finding take it
easy.

652
00:32:58,900 --> 00:33:09,300
All right, pal, adios.
That does it for this week

653
00:33:09,300 --> 00:33:11,400
folks, you can learn more about
the stories we covered in the

654
00:33:11,400 --> 00:33:14,000
show, notes on our website
money, never sleeps that I eat.

655
00:33:14,300 --> 00:33:16,900
Also, thanks to Conan Brophy,
from create sound for mixing and

656
00:33:16,900 --> 00:33:18,900
editing.
This episode Conan is an

657
00:33:18,900 --> 00:33:20,900
excellent medium and to get in
touch with when you're thinking

658
00:33:20,900 --> 00:33:22,300
about launching your own
podcast.

659
00:33:22,700 --> 00:33:25,800
As for me, I'm an early stage,
startup investor focused on

660
00:33:25,800 --> 00:33:28,800
where fintech meets crypto and
crypto meets web three there

661
00:33:28,800 --> 00:33:30,900
plenty of links in the show
notes on money, never sleeps

662
00:33:30,900 --> 00:33:34,000
that IE on how to Get in touch
with us, so don't hesitate to

663
00:33:34,000 --> 00:33:36,400
reach out finally till next
time.

664
00:33:36,400 --> 00:33:37,700
Thanks for listening.
See you