The Nomics Update

There's a concept in cognitive psychology called theory of mind, and theory of mind is the ability for someone to predict what someone else might be thinking in a given scenario. Young children have pretty horrific theory of mind. They're unable in most cases, you know, when kids are pretty young, to guess what a third party might be thinking [00:00:30] in a given scenario. They're unable to figure out or estimate what someone else might be thinking. So an experiment that's done with very young children to figure out if they have developed theory of mind is a child who is being tested for theory of mind abilities might see a stuffed animal, and [00:01:00] the experiment or the person that's running this experiment would show the child that a stuffed animal sees a piece of candy. Then the researcher would cover up the eyes of the stuffed animal and put the candy in his or her pocket and then lift up the blindfold or whatever that's on the eyes of the stuffed [00:01:30] animal, and then ask the child who's seen all of this where the stuffed animal thinks the piece of candy is. And in most instances the child will tell the researcher that the stuffed animal thinks the piece of candy is in the researcher's pocket because the child ascribes to the stuffed animal what the child knows about where the candy is, even though during this experiment it was very evident [00:02:00] that the stuffed animal's eyes were covered when the piece of candy was placed in the experimenter's pocket. And theory of mind is something that is commonly known to differentiate between people with and without autism. So people with autism are known for not doing especially well on theory of mind tests, but theory of mind [00:02:30] isn't just something that people with autism score poorly on. I've found through the years that most people who are looking to engage in business relationships don't have very good theory of mind at all. They don't spend much time trying to figure out what the person on the other end of a deal might be thinking, what a customer might be thinking, what problems [00:03:00] they'd be struggling with. On a very, very small scale, it looks like salespeople who reach out to someone and try to set an appointment not using the time zone of the person that they're looking to set an appointment with. So let's say I'm in Chicago and I'm communicating with a salesperson in California, someone with highly [00:03:30] developed theory of mind, in my opinion, would give me times in my time zone, right, would relate to me on my own terms. They would also do some background and try and get a sense for what my pain points might be. I encounter this lack of theory of mind or lack of consideration of theory of mind all the time when people pitch [00:04:00] me on coming onto the Flippening podcast, right, our popular podcast that often gets over 30,000 downloads an episode. People will pitch me on coming onto that podcast. They'll often asked to come on and talk about the same topic that someone else just spoke about. They won't say anything about how they'll promote the episode. They won't say anything about sponsoring [00:04:30] [transcript truncated due to character count restrictions] Website: https://nomics.com Crypto Market Data API: https://nomicsapi.com Personal Twitter: https://twitter.com/ClayCollins Company Twitter: https://twitter.com/NomicsFinance --- Support this podcast: https://podcasters.spotify.com/pod/show/nomics/support

Something I've been really curious about for a long time are the methods of Wim Hof. Wim Hof is a Dutch extreme athlete and a really likable guy. I've seen him interviewed several times and he doesn't have the typical stunt devil persona. He really seems to be coming from a great place and he is really into [00:00:30] breath and breathing and how that lets you go deeper into yourself. He's set a bunch of really, really remarkable world records. For example, he holds the record for swimming the longest under ice without any wetsuit or anything else on, just wearing a pair of shorts. He at one time held the record for the fastest half-marathon barefoot [00:01:00] on ice and snow. He frequently swims in frozen water. He holds the record for the longest time in direct full-body contact with ice, which is pretty nuts. He's climbed Mt. Kilimanjaro wearing only shorts.  But his program, which I'm going through and enjoying, I'm only one week into this, [00:01:30] his program is called The Wim Hof Method and it's a couple hundred bucks. It's really about breathing. It's almost a meditation and yoga course. He claims that this comes with a bunch of health benefits. I remember seeing a documentary about him where folks at a hospital in a very controlled environment ejected him with, I believe, a virus and he was able to fight it off [00:02:00] by breathing in a certain way, keep his temperature down, and it was a virus that could have brought a lot of harm to him unmedicated, but he beat it without medication. But I'm going through this because of the benefits that it claims, better sleep, better energy, better mood, and [00:02:30] overall better mindfulness. The practice really takes, I don't know, maybe 20 minutes a day of breathing and taking cold showers. I don't know, I'm only a week in, or I have one week down. It might escalate quite a bit, but it's a lot of fun. I'm enjoying it. I have already noticed that I am sleeping better, that I do have more energy throughout the day, that my mood is [00:03:00] generally better. I'm just generally happier. Maybe it's all this forced hyperventilation or something. But yeah, it's a good thing. This entry is definitely more on the journal side of the kind of topics that are covered by this podcast, but yeah, this is my personal audio journal. I think that a startup can only grow at the rate that a founder [00:03:30] is growing, so I try and do things like this to expand myself. Sometimes they work, sometimes they don't. Maybe I'll report back after I'm done with the 10-week course. But again, it's proving to be really enjoyable and it's amazing how good I feel after, you know, cold exposure, after taking a long cold shower. Alright, take care. Bye. [transcript truncated due to character count restrictions] Website: https://nomics.com Crypto Market Data API: https://nomicsapi.com Personal Twitter: https://twitter.com/ClayCollins Company Twitter: https://twitter.com/NomicsFinance --- Support this podcast: https://podcasters.spotify.com/pod/show/nomics/support

Something I've been meaning to do for a while is offer you the opportunity to post thoughts and tips and experiences here on the Nomics Update. We've got a nice audience kind of aggregated around what we're doing. Each episode will get a few thousand downloads, and generally I think the people that listen are interested in a range of topics. [00:00:30] Everything from growing startups to crypto to personal development, so if you have a tip that you want to share on the Nomics Update, here's what I'll do. I'll take that tip from you. I'll introduce you and your company if you want, say a little bit about how folks can find you on Twitter, and then I'll roll the tip from you.  So to send me a tip that you'd like to share with the audience, or an update or some thoughts [00:01:00] in general, you can go to claytelegram.com and just leave me an audio message there on claytelegram.com. Telegram has a really great asynchronous voice feature where you can leave a voice message. So just leave me a voice message at that location, and if I like it and I think it would be useful to the broader community that listens to this podcast, then I will [00:01:30] absolutely share it. All right. Take care. Bye. [transcript truncated due to character count restrictions] Website: https://nomics.com Crypto Market Data API: https://nomicsapi.com Personal Twitter: https://twitter.com/ClayCollins Company Twitter: https://twitter.com/NomicsFinance --- Support this podcast: https://podcasters.spotify.com/pod/show/nomics/support

At Nomics, one of the things we don't talk about very often but something that's been really popular among our enterprise customers are our consultative or concierge data services. It's something that's a lot of fun because it allows us to partner at a deeper level with institutional investors, family offices, hedge funds, private investment offices, prop [00:00:30] shops, et cetera. It allows us to get to know a lot more about how these organizations use data, how they think about data, and how data is integrated with their trading strategy. Whether it's active strategy, and maybe they're running a real time trading environment or it's more of a passive strategy and they're looking for analysis on historical data sets for the purpose of [00:01:00] back testing and things like that. But our concierge data services are really for organizations that make heavy use of crypto asset data. They either don't have an in-house development staff that can build out arrays of machines or the infrastructure necessary to run [00:01:30] pretty complex trading operations. That's fine. There's a lot of really brilliant investors and big data people at these places that are really great at what they do but they don't necessarily have a background in software development or they're too busy making money for their fun to set up some of this infrastructure at least to take the first pass [00:02:00] at some of this infrastructure. They either don't have the in-house engineering resources or the people that could do this in the organization are too busy executing against strategies that they know work, and that they know make money and they come to us because they have a hypothesis around some things that might work, and they want to test a strategy. In most cases [00:02:30] when these folks come to us to have custom work done, to have concierge data services done or created, we're able to charge them a lot less than it would cost them to build it themselves from scratch even paying existing employees, or to farm this out because we're working with data and cryptocurrency data all day long, really. So, we have a lot [00:03:00] of the building blocks in place already to do this. We're usually not starting from scratch, we're usually not testing different ways to store this data or to ingest new data sources that they might need. We have a lot of these ingestion pipelines already in place if they need a strategy that scales across multiple machines, we have that infrastructure in place already. I should note that, [00:03:30] to get started, it's usually again, less money than hiring someone to do this from scratch. But these services do start at 30 grand, for anyone I think, who has a fund of the size that would need these services, this usually isn't a problem at all, especially if you're a $20 million plus fund and [00:04:00] you're winning, and you have a hypothesis of what might work. This is really a drop in the bucket and certainly below market, well below market. In fact, often we're able to charge sometimes, less than other firms might charge for just out of the box products that are already created. A little bit about [00:04:30] [transcript truncated due to character count restrictions] Website: https://nomics.com Crypto Market Data API: https://nomicsapi.com Personal Twitter: https://twitter.com/ClayCollins Company Twitter: https://twitter.com/NomicsFinance --- Support this podcast: https://podcasters.spotify.com/pod/show/nomics/support

I think founders for the most part seem to, at least speaking for myself here, I think founders go through roughly a nine month cycle of founder failure that starts up, gets going, and then, repeats itself over, and over, and over again. The cycle's pretty simple. I think most founders when they start a company, if they're experienced, and they know what they're doing, [00:00:30] they start off doing a pretty good job. They've thought a lot about a given problem, and what they're looking to do when they first start a business, and they spend about three months being pretty good at their job. They know what their responsibilities are, what their duties are. They've thought a lot about what needs to be done, and what order it needs to be done in, and all of that. After this first initial three months of being pretty good at [00:01:00] their job, if they're having any kind of success, there's getting, traction is developing, then usually the job changes. In any kind of fast evolving situation, a situation with a lot of momentum behind it, I think after the first three months the job generally changes, and often a founder, and this applies to many people in startups. I think anyone who's at an early [00:01:30] stage company might, after the first three months of having a general sense of what needs to be done. After those first three months they realize that the job has changed, and often they don't know how it's changed. They just know that the things that they were doing initially weren't working, so after the first three months of doing a pretty good job at their job, I think they spend another three months learning how their job has changed, [00:02:00] and usually they learn why, they learn that their job is changing, and how their job is changing, because old things aren't working anymore. They start failing. Maybe at first they were doing a lot of meetings, but then they realized they need to start implementing, and they can't be on all the meetings that they were being ... That they were on before, and execute like they need to execute now that they have a sense of what needs to be done. The second three months of the cycle is around learning how [00:02:30] the job has changed, and the nature of the differences that have emerged, and then, I think the last three months of this nine month cycle of founder failure is learning the new job, and what it entails, and what needs to be done to be successful in the new job, so creating the circumstances to be successful again, and then, [00:03:00] once they've learned what their new job is, the cycle starts all over again. To summarize, I think the three months cycle of founder failure, or the three months cycle of founder success, I guess that's a little bit more optimistic is that there's three months at being okay at your job, three months learning that your job has changed, three months learning the new job, and then, of course starting all over, being okay at your job again once you've learned what the new job is. [00:03:30] I'm certainly right now in the phase where I'm learning my new job. I think, I was really, I think, I was doing a really great job for a while, then hired more people, got more customers, got a lot more traction to the website, and realized that things have started to change. The things that worked when there wasn't as much traction in the business, [00:04:00] [transcript truncated due to character count restrictions] Website: https://nomics.com Crypto Market Data API: https://nomicsapi.com Personal Twitter: https://twitter.com/ClayCollins Company Twitter: https://twitter.com/NomicsFinance --- Support this podcast: https://podcasters.spotify.com/pod/show/nomics/support

Hey, folks. I am pleased to tell you that the Flippening Podcast is back. It's been over a month since we published the last episode, and frankly, I didn't know if we were going to continue doing them. The Flippening Podcast, if you've ever heard if you've ever heard an episode, for example, the Security Token Documentary, it's something that takes a lot of time to put together, to put [00:00:30] content together in simple content that's produced at that level. There's a lot of scripting, there's scripting of intros and outros. There's a lot of post production editorial work, and frankly, there's a lot that goes into it. And I don't know honestly about every day or so someone hits me up and wants to be on the podcast, and often it's these podcast PR firms that [00:01:00] are trying to get their CEO or the CEO of a company that's hired them to be on the podcast, and I don't think they have any idea how much time I've put onto this. Someone casually shows up because they're doing a 'podcast tour', and we record them for an hour. And then after that, it's like hours of work go into getting that episode live probably. Probably eight hours per episode. No joke.  [00:01:30] And so just to actually clarify, so far no one who's ever reached out to me to be on the Flippening Podcast has been booked with one exception. It's all been people I reach out to and ask.  So we're starting the Flippening Podcast back up again, and like I might have said before, I didn't know if we were going to bring it back. Honestly, [00:02:00] I look at the top crypto podcasts and I would count the Flippening a couple months ago, I would put the Flippening in that category when we were releasing episodes on a regular basis. But the top crypto podcasts generally aren't run by people that are also CEOs of product companies. At least product companies in the software space versus perhaps the media space. And [00:02:30] that's because it takes a lot of time. So in the time that's past since we posted the last episode, a bunch of people reached out asking what had happened, and basically making the case for bringing it back. And we had an internal debate about whether or not to proceed with the podcast, and after a lot of deliberation, I decided it was worth doing but I needed some help.  So [00:03:00] we hired someone who's going to be essentially the producer for the podcast. So we have an editor but now we have an editor and a producer, and they're going to be able to help with everything from concepting the shows to helping with distribution to concepting things. And it's really exciting. And I believe if all this goes right that [00:03:30] it's going to require much less of my time than it did before because of the producers who's job is going to be to focus on this. It's not a full-time position. They do other things as well.  So anyway, lots of great stuff is on the way, and I think you can expect starting maybe starting next week ... I think you can expect [00:04:00] that episodes will be released every week, every single week, maybe even more frequently than that if we can get our act together. And as of today, hopefully by the time you're listening to this, but if not, a few hours after we release this, the first new episode will be live, which is actually part two of the deep dive we were doing on decentralized exchanges.  So [00:04:30] [transcript truncated due to character count restrictions] Website: https://nomics.com Crypto Market Data API: https://nomicsapi.com Personal Twitter: https://twitter.com/ClayCollins Company Twitter: https://twitter.com/NomicsFinance --- Support this podcast: https://podcasters.spotify.com/pod/show/nomics/support

So Pravin, and I hope I'm pronouncing your name correctly Pravin, but Pravin from Block.Kitchen wrote in with a question, and I'm gonna address it. First off, Block.Kitchen, I didn't even know there was a dot Kitchen domain name. There's just so many now, it's crazy. It's hard to follow. I'm always looking at these domain names and be like, "Wait, is this a dot com? It's a ..." That's the extension, dot Kitchen. Anyway, he wrote in [00:00:30] with a couple of questions. The first question he asked is this, if ... So here's the question, if you are not pursuing Nomics, what other business opportunities or categories in the blockchain space would you be executing on? Good question. So I think first and foremost I wanna mention that I really don't know. This question stumped me, and it's not like I have a [00:01:00] list of things in the back of my head that I'm just waiting to do. I'm very focused on what we're doing and in another update I'll speak about why I'm so excited about what we're doing in the Pathron and the problem that we're really solving, versus the problem that a lot of people think we're solving. But the answer is, I can't think of anything of the top of my head. I'm very interested in distributed datasets [00:01:30] and in data platforms, which is really at the core of what we're doing at Nomics, and core to the infrastructure that we're building. Much of which people can't see. And right now there's just nothing that excites me as much as data platforms. By the way, data platforms as an interest, like I've never been interested in anything that bored people to death as much as data platforms, but they're really [00:02:00] exciting if you ever wanna talk data platforms. Sometime maybe can have that conversation if we see each other at a conference or something. I think all of this said, if I have to think about it for a bit and stretch, I think I'd be interested in blockchain based lending, so on the Flippening Podcast, my other podcast, I did an interview with [00:02:30] Nadav Hollander from Dharma. I'm very impressed with what they're doing, I think that is potentially the killer use case, or one of many killer use cases. And if you look at US bond markets, they're bigger than the stock market, and both the bond market and the stock market individually are much larger at the into money supply, which is just the amount of money people have in [00:03:00] back accounts and savings accounts and cash. And that doesn't even include ... The bond market doesn't even include personal loans and household debt and things like that. So, I think there's a ton of opportunity there, everyone borrows money and because of hurdles around user experience and knowledge, access to technology. I don't know that the average [00:03:30] person would use Bitcoin just to use it unless they live in a place like Argentina or Venezuela and there isn't another reliable form for storing value, there isn't another reliable means of doing that. Obviously if you live in a place where the banking system is terrible, then Bitcoin is potentially a great place to put your money, I don't know, I don't give [00:04:00] [transcript truncated due to character count restrictions] Website: https://nomics.com Crypto Market Data API: https://nomicsapi.com Personal Twitter: https://twitter.com/ClayCollins Company Twitter: https://twitter.com/NomicsFinance --- Support this podcast: https://podcasters.spotify.com/pod/show/nomics/support

I got an invite to be interviewed for actually a pretty cool thing. The problem is it's not a interview where we get on the phone and they interview me and then they take notes and publish that. It's an interview where they send me a list of questions, and I need to answer them, and I'm bad at getting to these things. Normally, [00:00:30] I don't do these kinds of interviews just because it's hard to make the time for them, to sit down and write out all my answers, but when there's upside for it and I can justify my use of time this way, I'll go ahead and do it from time to time. One of these things came in. It's a series of questions. What I'm probably going to do is record the answers and have them transcribed [00:01:00] and have a content person on my team turn it into an article and send that in.  You guys, today, you folks ... I guess guys is not ... It's not cool to say "guys" anymore, and I'm not making fun of people who say, "It's not cool to say 'guys' anymore," but you can't say "guys" anymore, so I'm saying "folks" from now on. You folks get to hear my answers to these [00:01:30] questions for a few days here as I answer them because I don't even know that I would record the answers in audio format to get transcribed to send to a content person on my team if I couldn't publish it on the show, so thanks for listening as I do this.  The question one that I need to answer for this is, what is your background, [00:02:00] and how did you get into crypto? I don't know that I've told this story before. What's my background? Nomics is second software company, and before doing this, I co-founded a company called Leadpages, which now that corporate entity is called Drip, and they create a eCommerce CRM, [00:02:30] and we acquired Drip and it ended up being such a big thing, but the company pivoted around for lots of reasons, and I think it's a smart move. My previous company was Leadpages. I was the CEO of that company, grew that to over 150 people, raised 38 million in venture capital. In [00:03:00] I think late 2013, arguably the second, but, really, the first year of that company, we hired someone on our devops team who came to us from Best Buy, and now they live in Palo Alto and work at Facebook, and are doing really cool things over there. I think they did cool things for us, as well, but that person got me into Bitcoin, [00:03:30] and he was a miner. I live in Minnesota. Minnesota winters are notoriously cold, so he had his mining equipment in his basement and claimed that, on some days, it produced enough heat to heat his house. It's kind of a cool dual use of that electricity, but he got me into Bitcoin. He started talking about it quite a bit, and I'm not sure [00:04:00] most people spent much time listening to him speak about it, but I was fascinated. It combined things that I was interested in, which was economics and money and computers and the Internet, so it's like this combination, this amalgamation of things that I'm intensely interested in, and it just made sense. It just clicked to me.  There are so many [00:04:30] things that or so many businesses or projects or companies that were analog, and then another company came by and created a digital version of it, and then it could, that product or that idea, the function that was executed by that product, could hop on the back of Moore's law and go exponential, [00:05:00] [transcript truncated due to character count restrictions] Website: https://nomics.com Crypto Market Data API: https://nomicsapi.com Personal Twitter: https://twitter.com/ClayCollins Company Twitter: https://twitter.com/NomicsFinance --- Support this podcast: https://podcasters.spotify.com/pod/show/nomics/support

So back in the day I said I'd answer questions if you send them in. I believe also at the end of each episode I mentioned that I'll answer questions that folks submit as well. So I got a question from Casey. And they asked who inspires me in this space? What companies or individuals inspire me? So I thought about this a little bit and the first person that came to mind was Andreas [00:00:30] Antonopoulos. I hope I'm pronouncing his last name correctly. I think there's a good chance that I'm not. But when I was first getting involved in this space, his content and his thoughts, and his wisdom influenced me more than anyone else. This is someone who spent his own money and lost money at first. And frankly had to cash in quite a bit of his Bitcoin to fiat to fund his travels where he'd go [00:01:00] to conferences and speak often for free before he could command a stipend. He's created a lot of different videos and man, just really, really deepened my understanding of this space. And I'm so grateful to him. So he's first and foremost on this lesson. When I think of someone who speaks for Bitcoin, no one officially speaks for Bitcoin, [00:01:30] but I really think he is probably the most influential spokesperson on behalf of Bitcoin. And I've just learned so much from him, not just about bitcoin but about the lightening network, and a bunch of other things. Really great guy. I've bought, I believe, all of his books. I am a member of his Patreon community. I believe for awhile there I was donating $250 a month [00:02:00] to him just because I was so grateful for his contributions. I think the second company on this list is really the Dharma Protocol. I think lending is way underrated as a use case. The bond market is much bigger than the stock market, and both the bond market and the stock market are bigger than circulating into [00:02:30] cash supply, at least in the United States. And everyone borrows money. Rich people borrow money, poor people borrow money. The middle class borrows money. It's just an important function of a well operating economy. And I believe that when lending, on the blockchain that when it's working and the incentives are correct, and it's functioning at scale, [00:03:00] I really believe that this has the potential to be the killer app that brings in millions of people. Because most people won't switch to Bitcoin just because it's neat, or it's cool, or even because it's censorship resistant, right? Unless they're in a place with a horrible banking system, and don't have access to USD accounts or other stable forms of wealth. Most people aren't going to make that switch, especially when you consider [00:03:30] the amount of knowledge that's required to use Bitcoin. And also a lot of the UX hurdles. The user experience hurdles that exist. But I believe there are a lot of people that don't have access to loans that will find a way to make it work, right? Even if they've got to go into an internet cafe and navigate a pretty difficult process to get a loan. So I think loans, blockchain based loans [00:04:00] [transcript truncated due to character count restrictions] Website: https://nomics.com Crypto Market Data API: https://nomicsapi.com Personal Twitter: https://twitter.com/ClayCollins Company Twitter: https://twitter.com/NomicsFinance --- Support this podcast: https://podcasters.spotify.com/pod/show/nomics/support

So I got a second question from Pravin. Pravin, I hope I'm pronouncing your name correctly, from block.kitchen. Again, man I didn't even know there was a .kitchen domain extension. I'm perplexed by these, just this infinite number of domain names available now. And the prices all over the board. Sometimes you'll see like .blue domains [00:00:30] are like $100 a year and then there'll be some other kind that's like 15 cents. Anyway, I don't understand that business very well.  But Pravin wrote in and asked a question that I was trying to dodge, but I told people I'd answer questions so I'm going to do it. He even wrote in and revised this question, but I'm going to answer the original question. Sorry. I'm going to answer the original question.  So he asked what my, I don't know why I'm chuckling [00:01:00] here, but he asked what my morning ritual looks like or my morning routine. And the reason why I laugh is because back in the day, a long time ago, I used to be a personal development blogger right after college because I thought I knew something about personal development. And the truth is I think I probably know very little about personal development.  But I learned a lot about marketing back then and about blogging and about growing an audience, [00:01:30] none those skills I'm using to actually grow this podcast, which I spent no time promoting at all. Other than I think I have this automated thing that tweets every time I put out a new post.  So onto this question, but I want to preface this by saying that this used to be the obsession of like productivity bloggers. If you've followed productivity bloggers, basically the space that created [00:02:00] like Tim Ferriss or if you've been following the Getting Things Done Movement. There was this blog back in the day, it's still around, called Zen Habits. But everyone used to blog about their morning routine. There were all these blog posts about how to build a habit of getting up early in the morning. I think, really I think all that stuff is BS. All right, I'm not going to digress here too much but there have been studies on [00:02:30] different chrono types. And that's just a fancy way of saying people that have certain proclivities around when they get up and when they go to bed. Most people have this flexible chrono type where if they work on it, they can get up early. And most, I mean it's like a majority, but I don't think it's significantly over 50%.  But most people are in this kind of flexible chrono type category where, [00:03:00] like I said, they can train themselves to get up early or train themselves to get up late, they're flexible. But then there's this early riser, chrono type that tends to be much more organized and less creative, although there's certainly creative people that do get up early in the morning. This just about averages. And it is very hard for them to do anything other than get up early, like that's just how their body is wired.  And then there's people with this sort of late [00:03:30] rising chrono type that can get up like I don't know, they get up later and they need to sleep in the morning. It's when their body produces certain hormones. They tend to be less structured and how they think and less organized and more creative.  And if you're in either of those buckets, you really can't change this. And it's just, it's really absurd, kind of this cult around getting up early. There's that quote by, I believe Benjamin Franklin who said early [00:04:00] [transcript truncated due to character count restrictions] Website: https://nomics.com Crypto Market Data API: https://nomicsapi.com Personal Twitter: https://podcasters.spotify.com/pod/show/nomics/support

I think hiring is a multi-year ... a multi-year game. About half the people I ... we've hired at [Nomics 00:00:11] I've known ... oh, about a year. Some of them, two of them I knew for over a year before they were hired, and it's just so important, I think, as a CEO, to stay in contact [00:00:30] with people who are excellent at what they do. A lot of people try and stay in contact with thought leaders, or other CEOs, and ... you know, people with huge brand names.  Those people are already bombarded. They have way too much to do. I think the highest ROI relationships to keep up are ones with just amazing operators in their space. I really believe that the biggest lessons I've learned as an entrepreneur [00:01:00] have been around what excellence looks like in different positions, and in different roles.  And, until you've worked with an A-player ... any given role ... it's just hard to know what that looks like, specially in some of these roles that don't get a lot of attention, like finance leaders, sales leaders, design and product leaders, engineering leaders.  Generally, the top people [00:01:30] on many of these roles don't have huge followings on Twitter. There's not a lot of social signaling around who they are, other than maybe companies that they've worked at in the past, maybe. And, the only way that they'll have ... for the most part, that they'll have really [fanty 00:01:47] past roles is if they've lived on the coast. Right? If they've lived in New York, or San Francisco; but other than that, those signals are often not there.  But, [00:02:00] I think these are really important people to stay in touch with, so I just got off the phone with someone who we were looking at, at my last company, when we were looking to replace me as CEO. I went to the board, I said, “I think it's time to higher another CEO. This company ... you know. I feel really comfortable between 30 people to 80 people, or 100. Past that, I think I'm [00:02:30] a bit out of my league. We should hire someone,” and someone applied for that position, who I really think the world of.  I think they're one of the best executives I've ever seen. Again, they don't have a huge following on Twitter. They don't have a huge personal brand, but holy crap, they're amazing operators, and I think they've been successful in every single role they've ever been in, ever. And so, [00:03:00] I stay in touch with them.  I'd like them to be an advisor to the company, and so we're talking about that. I also, as a side note, stay in touch with the person that we hired for that role to replace me as CEO at my last company. He's an advisor to the company, we meet every month. I've learned so much from him, and have the utmost respect for him, as well.  But, yeah, I [00:03:30] think staying in touch with the best operators in these often looked-over areas of a business. I think it's one of the highest ROI activities ever, as an entrepreneur, and I don't think it's done enough, because I just don't know a lot of people that do it; but those are the people that make the difference between really taking [00:04:00] [transcript truncated due to character count restrictions] Website: https://nomics.com Crypto Market Data API: https://nomicsapi.com Personal Twitter: https://twitter.com/ClayCollins Company Twitter: https://twitter.com/NomicsFinance --- Support this podcast: https://podcasters.spotify.com/pod/show/nomics/support

We just turned on Brave verified publisher status on nomics.com and I'm kind of excited about it. I don't think it's going to, at least in the short term, result in any kind of real and meaningful short term value. But I really like the direction that the Brave browser is going in. It's almost at the point that I can start using it on a daily basis, even though it's not quite there yet.  [00:00:30] I thought it was going to be there. I thought I was going to completely switch over to Brave. They did a lot of things that I think make a lot of sense. I think they've basically forked Chrome, at least the open sourced parts of Chrome, so you can create different workspaces and personas that have saved cookies and bookmarks. There's a state behind [00:01:00] each of these environments that you can switch in and out of, and that's cool.  For the most part, I believe all Chrome plugins now work in the Brave browser, which is nice, so I can use my password manager and a bunch of other plugins for Chrome that I've become dependent upon, like those working in Brave, which is really nice. And it seems to be faster than Chrome [00:01:30] and it has a real emphasis on privacy which I like, and blocking third party cookies and on, and on, and on. They've done a really good job there, and I'm happy that we are now verified in Brave, or as a Brave publisher.  There's a few things that didn't work. One, when I use Google Hangouts in the Brave browser, I can't seem to hear the person [00:02:00] on the other side. They can hear me, they can see me, I can see them, but I can't hear them. I've done a lot of Google Hangouts. I'm pretty sure that I have it configured correctly, but I can't seem to hear the person on the other line.  The other issue, and I'm sure there's more, is that I can't seem to print to anything but PDF in the Brave browser. It doesn't connect to printers on my system for some reason. I have no idea. [00:02:30] Maybe if I spent a couple of hours screwing around with the stuff, I could get it to work. But these things don't work.  But I'm really glad that there is a team that's focused on some of the UX components of distributed finance or this ... I don't know, whatever we call this space; the crypto-sphere. I think Brave has come a long way. It does look like they took out the MetaMask wallet, or the native MetaMask wallet. [00:03:00] But it's really come a long way. I'm happy that we have it turned on. If you are a user of the Brave browser, and you want to donate to nomics.com, we would obviously, obviously welcome that. But we're not looking at it to be a huge source of revenue. Maybe we'll be pleasantly surprised. I don't know.  But it's cool to see something come along that operates this well. Generally speaking, when I go [00:03:30] to a website and they tell me that I need to have MetaMask installed, I'm just like, "No. No, I'm just going to move on." Because the UI there is just so clunky and I wish it could get a lot better. I really do. Anyway, that's the update for today. Take care. Bye.  [transcript truncated due to character count restrictions] Website: https://nomics.com Crypto Market Data API: https://nomicsapi.com Personal Twitter: https://twitter.com/ClayCollins Company Twitter: https://twitter.com/NomicsFinance --- Support this podcast: https://podcasters.spotify.com/pod/show/nomics/support

At the end of last week, I decided that I am no longer doing meet and greet phone calls or I don't know even calls that feel like they're going to be meet and greet phone calls. When someone says they want to do a meet and greet, the answer is just no. But recently, I've been hit up with a bunch of different people reaching out who won't actually say they want to do a meet and greet [00:00:30] phone call. They'll disguise it as something else. I had someone reach out and say they wanted to sponsor the podcast. As soon as I got on they said that they'd be interested in sponsoring a few months out, but they just wanted to talk to me, and then they pitched me on being on the [inaudible 00:00:47] podcast and that was the podcast they were going to sponsor. But it really felt deceitful, frankly, and [00:01:00] they come in with hey I'd like to sponsor, but then it's three months out and we have to figure out what our budget is. Yadi, yadi, yada. That is not cool, people. That is not cool. Please do not do that. Not to me. Not to anyone else. You're just wasting time.  I also had someone reach out. It was a journalist, and they said they wanted to talk, and when I got on the phone they said they were exploring different ideas for articles for something they're going to write [00:01:30] about three months out. It's always about three months. I don't know why, and they wanted to hear about Nomics. They're like just tell me more about Nomics. What are you doing? They were actually a journalist. They seemed legit. But that also was a complete waste of time.  I think there's a lot of people with far too much time on their hands who when they don't feel like they're making progress or when they want to create for themselves the illusion that they're making progress on a given day. [00:02:00] They just want to talk to people, right? They like to hang out in telegram groups and talk on communities and debate various things and get on the phone with each other and talk about these things as well. They need a lot of social reinforcement around what they're doing.  I'm getting better, for the most part, at filtering through these things. One of the key words I've found [00:02:30] around people who are likely going to waste my time is that they use the phrase "learn more". It might be a VC who reaches out and says something to the effect of, "I like what you're doing. It seems interesting. Let's get on the phone. I'd like to learn more." It's like what motivation do I have to educate you on our market and what we're doing just so that you can learn more? Are you really not going to offer anything of concrete value to me?  The same on the sales front. Someone will reach out and try and sell me something, [00:03:00] and they'll say, "Hey. Here's what we do. I'd really like to get on the phone. Are you interested in learning more?" I don't what it is about the phrase "learn more" that is just this huge indicator that there's absolutely going to be no value transfer.  I've started de-escalating these requests. If I don't know the person, I'll just ask for an email. On the bus dev [00:03:30]   [transcript truncated due to character count restrictions] Website: https://nomics.com Crypto Market Data API: https://nomicsapi.com Personal Twitter: https://twitter.com/ClayCollins Company Twitter: https://twitter.com/NomicsFinance --- Support this podcast: https://podcasters.spotify.com/pod/show/nomics/support

For the most part, I've been sharing general business advice on this podcast, and I really, really, really want that to change. For one, I don't know that I'm a general advice kind of person or an advice kind of persona at all. So what I've been sharing is not what I think is the right way to build a company. I think it's just how we're building a company, and a lot of this is influenced by my past experiences and [00:00:30] successes and also mistakes. I think general business advice starts veering into the category of thought leadership, and I'm also not a fan of thought leadership. One of my favorite things to say is that a leader is kind of like a thought leader except they actually get stuff done, and even when it comes to 'wrong' ways to build a business, [00:01:00] there are plenty of people who build a business the wrong way and still manage to have enormous success.  So yeah. So I really I guess my journal entry today is just to note that I want to be sharing more about the specific things we're doing at Nomics, but there's a lot that I just can't share yet. I definitely had the experience in the past of [00:01:30] walking other through exactly what I've done in the market to have success and then seeing that copied. And I'm okay with that as long as enough of emote has been built up and as long as enough time has passed. And we're starting to see some real success at Nomics that I'm proud of, but enough time just hasn't passed yet. And I'm [00:02:00] kind of itching to share it. For one, I want to brag. For one, I want to brag.  But I guess another piece of this is I just think there's a lot of things to learn about the space that we're in, cryptocurrency, market data, data companies, data platforms. And so I'm really looking forward to sharing some of our findings, some of our learnings, some of our [00:02:30] wins and also some of the things that I think are other people work that absolutely don't work. But, again, not enough time has passed for us to have a true mote there yet. So I'm just waiting for that to develop.  So the message today is just that I am itching to share more. I'm itching to share more than just ideas and general thoughts on product and building an org. [00:03:00] But I also think that as I go about documenting what we're doing here and 'working' in public, whatever that means. There's a lot of people that talk about working in public or building a company in public, and I think that's just code for content marketing. And it can be really great content marketing, and it can help other people like join in the journey that you're having. I think a lot of the best marketing makes your listeners protagonists [00:03:30] or participants in the story about the development of your company, right? But it's just too early to share more details. Just know that they're coming, that I want to share them, that it's for the most part not in my nature to go so general on so many things. I hope you're enjoying this nonetheless. But stay tuned. Details are coming. They're forthcoming. All right. Bye. [transcript truncated due to character count restrictions] Website: https://nomics.com Crypto Market Data API: https://nomicsapi.com Personal Twitter: https://twitter.com/ClayCollins Company Twitter: https://twitter.com/NomicsFinance --- Support this podcast: https://podcasters.spotify.com/pod/show/nomics/support

I think it's dangerous for companies to become obsessed with consistency. I think there's a time and a place for consistency, and I'm not talking about consistency of execution, I'm talking about consistency of content. Of course, consistency of execution is important, being a consistent person, doing what you say you're going to do. All that stuff [00:00:30] is of upmost important. But when I talk about consistency in this podcast, I'm talking about consistency from a product and perhaps even a content perspective.  I think one mistake that junior product managers make is they can be obsessed with consistency, and, in fact, in a lot of new product managers will come in and say, "I'm going [00:01:00] to make this new thing, and it's going to be consistent with that thing." And my primary job here once I started is to create consistency across our product or across our app, and there's nothing wrong inherently with consistency. But I think when that becomes the highest form of inspiration, problems can occur, right? When people stop [00:01:30] thinking about new ways to do things, when they stop asking questions like what does the user really want here, sometimes that can create situations where a new aspects of an app are in some ways highly inconsistent with past things. And maybe it's the older parts of the app that need to be made consistent with the new parts, or maybe it depends on your market [00:02:00] and your user group and who your customers are and why they bought your product. But maybe it's okay that there's inconsistency. Maybe as you build out the first version of your product, there are parts of what you're doing that are inconsistent with past parts. And that's okay. It's the first coat of paint, and when you go to put a second coat of paint on, maybe you can create consistency if that's the right thing to do. But [00:02:30] I think there is sometimes within organizations this faith in what existed before they were around, and I think that's not only true of companies or products, I think it's true culturally. I think about a lot of religions where ... [00:03:00] So I'm not a religious person. But I've definitely seen ... But I grew up in a religious culture, and there's this tendency to not question the things that we're around before someone was born, right? So you can think about things like, I don't know, the birth of Jesus, right? If someone came around today saying the types of things that Jesus said or any other religious prophet or figure, most people would [00:03:30] discount them, right? But because these things, Jesus and others, existed before someone was born, it has a certain amount of weight.  And I definitely see this in startups where a cohort of people will come into an organization, and they accept it almost faith value or at face value what was done prior to their arrival. But everything done since their arrival is subject to [00:04:00] a huge amount of scrutiny and there's this desire to create consistency with what's always been there. And I think a danger for companies is that a whole bunch of people get hired or enough people get hired that bring up consistency concerns at every meeting that you create this organization that it's like this consistency creating machine that everything that's done is pulled into this [00:04:30]   [transcript truncated due to character count restrictions] Website: https://nomics.com Crypto Market Data API: https://nomicsapi.com Personal Twitter: https://twitter.com/ClayCollins Company Twitter: https://twitter.com/NomicsFinance --- Support this podcast: https://podcasters.spotify.com/pod/show/nomics/support

My thinking, over the years, on hiring freelancers and other people with nonpermanent status has really changed a lot over time. I used to be of the opinion that I wanted to hire lifers, people who are in it for the long haul, people who could develop deep company knowledge and really kind [00:00:30] of be there forever. I still want to hire folks with some of those attributes. There's nothing wrong with that. I think was has changed is this staunch anti-freelancer or anti-contractor approach, and there's a few things that kind of changed my mind.  I think the first is that hiring freelancers is a really great way to run experiments. They might [00:01:00] be more expensive per hour, but there are definitely people with highly-developed skillsets that have developed those skillsets over long periods of time that are staunchly committed to being contractors. They like it for a variety of lifestyle or other reasons, and they've developed deep expertise. You can hire them fairly quickly to [00:01:30] work on really important things in your business and test them out.  When you test them out, you don't have to permanently commit to spending a certain amount of money per year. You don't have to invest in recruiting like you otherwise would. You don't have to invest in health insurance, but most importantly, you can pivot. If you run an experiment and it works, then perhaps you double down on that experiment or you decide to scale it, and that [00:02:00] might involve hiring someone full time, but if it doesn't work, you can just part ways when that makes sense and kind of within the terms of the contract you've established. When it comes from everything to branding to SEO to writing to all kinds of different tasks, I think now I'm much more likely to hire a freelancer to test and [00:02:30] see if that works. Often, the freelancer won't be right, but the basic idea of what were attempting is right, and hiring that freelancer really allowed us to evolve our idea of what we need in a given position. It could be that our initial thoughts on the skillset or consolation of skills that would be required to create wins, that our initial idea of that was completely wrong, [00:03:00] and hiring a freelancer allows us to realize that. Then we can hire another freelancer and see if we nail it.  Then, if that works, maybe we move to a full-time position or maybe, and this often happens, that the freelancer does bring a lot of success, but they bring success around something that only needed to be executed once over a period of three months, or with a lot of marketing things, someone [00:03:30] can bring success and then, over the course of six to eight months, that traffic opportunity or that advertising opportunity or that paid media opportunity kind of the ship has sailed on making that work because the economics of ad buying changed or competition in the space heated up, and there's no longer an opportunity there.  Yeah, so my thoughts have really changed on this. I've also found that [00:04:00] there are some people that are so good at what they do that it's near impossible for a company of our size to hire them as full-time employees, but it's absolutely possible to hire them as freelancers, whether they're for-hire CFOs that have advanced skillsets in a given area or what have you. My tune has really changed here. I used to be [00:04:30] [transcript truncated due to character count restrictions] Website: https://nomics.com Crypto Market Data API: https://nomicsapi.com Personal Twitter: https://twitter.com/ClayCollins Company Twitter: https://twitter.com/NomicsFinance --- Support this podcast: https://podcasters.spotify.com/pod/show/nomics/support

So, I'm looking for an executive assistant, and I just want to put this out there. It's not a mad dash to hire someone. I'm not going to be hiring a recruiter. Yeah, I'm not going to be hiring a recruiter or running a strict process. I think it's the kind of thing where, when I find the right person, [00:00:30] it'll just happen. There are definitely hires that we make where we're running a process and we're shooting for a date. This hire is not like this.  Yeah, so what's the predicament that I'm in, that's leading me to want to make this hire? I think the reality is that we've decided to build our company in a specific [00:01:00] way. There's five of us, and I'm the only one who's not a full-time maker. There's three engineers, one front end developer slash graphic designer, who's our creative director, and then there's me, and I really want the rest of the team focused on building and making our product. [00:01:30] That means banking, HR stuff, interfacing with lawyers, sales, customer support. I mean, we share customer support, communication with the outside world, doing webinars, content marketing, marketing in general. Everything that's not related to building the product is falling [00:02:00] on me, and I need help.  The truth is that I don't really need help in quotes, and there's lots of people that will offer to help you. The truth is that I don't even have time for assistants, you know, for someone to assist me, because when someone's assisting you, it implies that you're doing it too, right? I've got two toddlers, and I'll say to them, " [00:02:30] Hey, I'm going to help you clean this room, or can you help me?" So I don't want someone to amplify what I'm doing. I want someone who truly is ... someone operates at a very high level, that can take entire functions of the business and just handle them with without [00:03:00] a ton of instructions. Right? I can just kind of describe the outcome I'm looking for, and they make it happen. They've got great judgment, and they can operate pretty independently, right?  This is not a great position for someone who wants to mirror me or shadow me. If someone wants to learn from me directly, [00:03:30] this isn't a good position for that. What I do know is that there's a lot of writing that needs to be done. It doesn't make sense to hire a full-time writer just yet, who's just going to write. There's a lot of processes and organization that needs to be created, but we don't have to have enough to do to just hire a full time process person.  Whoever we hire [00:04:00] needs to be a lover of new technology, new software. We have so much interesting technology that we use on so many fronts, security, organizational stuff, communication stuff. I think we do a lot of nonstandard things, and we're early adopters of communications technology. It can't be the thing where I'm like customer support for whoever's hired [00:04:30] on how this stuff works. They also need to be passionate about business growth. I think the mistake that a lot of executive assistants make is that they think their job is to respond to everyone, and that's a real problem, right? Then you've just hired someone [00:05:00] [transcript truncated due to character count restrictions] Website: https://nomics.com Crypto Market Data API: https://nomicsapi.com Personal Twitter: https://twitter.com/ClayCollins Company Twitter: https://twitter.com/NomicsFinance --- Support this podcast: https://podcasters.spotify.com/pod/show/nomics/support

One of my favorite blog posts is on the AVC.com blog. It came out in 2010. It's called What A CEO Does. This is on Fred Wilson's blog. In this blog post, it's pretty short, but it's incredibly powerful. In this blog post, Fred Wilson describes being on a board with another VC and [00:00:30] a search at that board was doing for a CEO of a portfolio company, right? They're looking to hire a new CEO. Fred, I think he was a junior VC at that time, certainly didn't have the experience that he has now, but Fred turned to the more experienced VC as described in this blog post and said, "What does a CEO do? We're looking to hire this position. [00:01:00] What are the foundational aspects of this person's job that we're hiring for?"  As Fred tells the story, the senior VC on the board replied or answered without thinking. He said, "A CEO only does three things." Oh, it's my wife calling. I'll call her right back. Fred responded that a CEO does three things. One, [00:01:30] sets the overall vision and strategy for the company and communicates it to all stakeholders. Two, recruits, hires and retains the very best talent for the company. Three, make sure there's always enough cash in the bank. In the story, Fred said, "Is that really it?" The senior VC said that the CEO should be delegating everything else in the business. I think that's right. [00:02:00] I really agree with this.  There's three jobs, make sure there's money in the bank, make sure the company is making good hires, and three, communicates the vision, right? Investors, employees, customers, the market, etcetera. I've been thinking about this a lot and I really think that of those three things, communicating the vision is the most important one. Because when you [00:02:30] communicate the vision frequently and perhaps in a one too many fashion, right, through blog posts, through podcasts, through all hands meetings of the company, when you tell lots of stories, you'll make good hires. You really will.  At least it helps a lot when you're making good hires, especially if a lot of the communicating the vision is also to the press, if [00:03:00] you can get it. You'll make good hires and you'll tend to have money in the bank, right? Because customers will listen to this. Customers will listen to the communication of the vision. I think kind of at the top of the food chain, this three item food chain, is communicating the vision. Something I've been doing [00:03:30] five days a week, I try and do it every weekday, but sometimes in order to hit my number here, I got to do it on the weekends, but something I've been doing is sending a daily audio note to the company about different things that are going on.  I call it the B Cast. I have a channel that it goes out on. I think that's been really helpful. I've gotten some good feedback on it, but I think it's always important [00:04:00] for CEOs to be communicating. That's part of why I do this podcast everyday. It's part of why I do the daily "podcast" of the company. It's not really a podcast, but it's important. I've seen this trend recently. It's not recent. I've seen this trend for a long time of CEOs [00:04:30] [transcript truncated due to character count restrictions] Website: https://nomics.com Crypto Market Data API: https://nomicsapi.com Personal Twitter: https://twitter.com/ClayCollins Company Twitter: https://twitter.com/NomicsFinance --- Support this podcast: https://podcasters.spotify.com/pod/show/nomics/support

So, I was reading this article in the New York Times about Donald Trump and Nancy Pelosi, and how Donald Trump has never had to really go up against someone like Nancy Pelosi in business negotiations before. And why he's being a bit, you know, he's been frustrated by that. And someone in the article, someone quoted in the article, "The art of war." So, there's this ancient [00:00:30] Chinese book by a man name Sun Tzu. So, I'm not a fan of war, but I am a fan of strategy and so this is a book about war strategy and a lot of people have used it to draw analogies to business strategy. In any kind of like zero sum adversarial strategy in general. There's a lot of takeaways that you can take from this book.                      So anyway, someone in this article was quoting Sun Tzu and the quote [00:01:00] that they read was this, here's the quote. "Victorious warriors win first and then go to war, while defeated warriors go to war first and then seek to win." And this quote reminded me a lot about the things I'd like to do differently and the things that I think I am doing differently as a second time entrepreneur. So, I think a lot of [00:01:30] entrepreneurs are like, they start a business, and they raise funds, and they are basically executing with the hopes of winning, right? So, they'll raise money and the belief is that this money that they've raised is a lottery ticket and it basically allows them to enter the game to play the game. [00:02:00] And maybe they'll win, maybe they'll lose. And at best the money that they've raised they believe increases their likelihood of winning. And, I think that's a bad way to think about venture capital or any kind of investment, or business in general.                      I think the best entrepreneurs when they do raise money, or deploy capital, or invest in anything as a business, they are [00:02:30] deploying capital against a strategy that they've proven that they can execute against. And, they're deploying capital so that they can scale what is already winning, right? They're deploying capital to scale what is already working and how does this relate to business strategy, or entrepreneurship, or building a product company? I think for me [00:03:00] the biggest way that this comes into play is around product market fit and around engineering. So, a lot of companies spend a lot of money compensating for lack of product market fit, or compensating for not having a sticky product, not having a product that sells itself. Not having a product that goes viral, [00:03:30] et cetera. And so, they'll do a lot of things like, buy ads on AdWords, or hire a bunch of salespeople, or go to a bunch of conferences and buy booths, and they're doing all these things because they believe that they can deploy capital to increase the [00:04:00] [transcript truncated due to character count restrictions] Website: https://nomics.com Crypto Market Data API: https://nomicsapi.com Personal Twitter: https://twitter.com/ClayCollins Company Twitter: https://twitter.com/NomicsFinance --- Support this podcast: https://podcasters.spotify.com/pod/show/nomics/support

Hey how's it going? I hope you're having a great day, a fantastic day wherever you are. So, I have been asked this a few times. I though I'd answer it here. What do I think of the current state of bear market and when are we going to recover? So, I went through this a little bit in 2013, 2014. During that time Bitcoin spiked to ... at the end of 2013 it spiked to around $1200 and then it crashed again to, [00:00:30] I don't know, $100, $200, $300 and fluctuated around there for a long time. Then it took all of 2014, all of 2015 all of 2016 and into the first quarter of 2017 to see 1200 again. So three whole years. Then it spiked, went to 20K. Then we crashed again [00:01:00] at the beginning of 2018. I really think it could be all of 2018, 2019 and all of 2020 and then at the beginning of 2021 it might spike again. So yeah, I think it's probably until beginning of 2021 until we see the kinds of prices that we saw at the end of 2017, but that doesn't mean there is not lots of opportunity. I think it's gonna go up during that time.  In my opinion, this is all [00:01:30] for educational purposes only, I just don't think we'll see 20, 21K etc until then. Then I think once it hits 20, I think we could see another 2017 in 2021. So if you are a trader and you have experience and or like trading during markets that are going sideways, you benefit from the ups and downs and you know how to make that work for you, I think you're gonna see a pretty good time here [00:02:00] in the next few years. All right, so that is my hot take. Again, this is not financial advice. This is for entertainment purposes only. Please, please, please, do not make any decisions whatsoever based on my thoughts. All right take care. Bye.  [transcript truncated due to character count restrictions] Website: https://nomics.com Crypto Market Data API: https://nomicsapi.com Personal Twitter: https://twitter.com/ClayCollins Company Twitter: https://twitter.com/NomicsFinance --- Support this podcast: https://podcasters.spotify.com/pod/show/nomics/support