Controversies, Disrupting High End Real Estate, And The Best Way To Use Twitter

sam bake freed was nineteen years old about nineteen years old about when this post was posted in two thousand ten and i just wanna read this is gonna be a little bit long but it's really interesting i wanna read what this post says so it says first off and this is a review of someone using this drug first off i'm a nineteen year old male about hundred and seventy pounds who is experimenting with new topics out of curiosity a few months ago i ordered a bottle with sixty doses of five milligrams of ce ce from a research chemical site and it looked and i've been taking it pretty much every day the day i started taking it i noticed a market increase in motivation for me it was money there was a huge desire for me to make as much money as possible alright what's going on we have an awesome episode so we're gonna start off by talking a ton about controversy in fact this entire episode feels like it's about controversy so the first part is on f t x and we talk about the drugs that they are on and it's kinda funny actually how ridiculous it is the second thing we talk about is liver king you guys have to hear the stories about this yolk guy who's like this fitness influencer who's built this hundred million dollar company it turns out he's been on steroids a whole time but in my opinion that's actually not the most interesting part the most interesting part is like these emails that we got our hands on about him talking about how he was gonna get huge on instagram he totally call this shot and then we talk about buying and selling high high really expensive real estate we're talking like things that are like thirty forty fifty million dollars and how this one woman katie bought some real estate that kinda sent some signals to to sean and how he thinks it's a little little mysterious and how she actually afforded that it's a really really interesting story so check it out i think you're gonna like this episode alright we're live i have two interesting things to bring up to you and i think they're both pretty hilarious hit me the first one we've talked about f t x we've talked about sam bacon freed but something and and then the next two segments i completely ripped off a youtube channel called more plates more dates so i don't wanna take credit for any of this something that's interesting is that these guys we're doing drugs like like sometimes they call them nut topics i but they're really just in or drugs and they were talking about it publicly we're looking back it's just hilarious how late this was and they just were rubbing it in our face and so i i wanna talk about that do know anything about that with these folks so i know what you're talking about i know that they were kinda like open about it promoting it but not but you like like you said this wasn't seen as too much of a red flag it was sort of almost like oh man this is that like ultra competitive nerd thing where they're like basically you know i guess do an adderall all and making all this money you know so when you're making money it's like not seeing as as much of a bad thing when you scam people and lose everyone's money then it's like these drugs are a problem alright so this youtube channel it's called more plates more dates it's the guy who breaks down like what drugs different celebrities are for different roles whatever and he's goes into in analysis on it and it's pretty nerdy but it's quite awesome and he did this thing talking about f t x and the drugs that sam beck fried was on and a few interesting segments the first thing so basically this whole f t x saga it boils down to like two interesting people so sam beck freeze who's like the leader and then like his right hand woman what what's her name caroline caroline ellis i believe so in april fifth two thousand twenty one here's listen to this tweet that she she put out nothing like regular and methamphetamine use to make you appreciate how dumb love normal non medicated human experiences and at the time she's running alameda research which has billions of dollars under management and she's making huge decisions and she tweets out the dumbest thing this morning i was lying on the couch reading a book that i decided to go for a hike but it took me like half an hour the point to must the energy and motivation to actually get from the couch i guess this means this is when she wasn't a drug and the hike it was good my body had no problem making the countless exert of effort involved in ascending and climbing this whatever but the second dumbest thing that i realized is that apparently there's about a twenty percent of my brain that's dedicated to food so when you're on in means you don't worry about food and the she's just tweeting this in the in the open you know this is like this is she just telling us how to go fuck ourselves you know all all of the the like it just it's that's hilarious that that like looking back that that was actually a thing that she just openly talking about this and it's and it's wild and i actually said that openly she had a tumble where she said she wants to date a guy who's like once to conquered the world and wants to dominate global governments like control governments control governments that i thought this she's like think that's what i'm into it's so funny and so another interesting thing is there's this picture of sb spf of of sam and he's sitting at his computer and you see like a patch on his arm and you see a rapper like a like a like it looks like a food wrapper on his desk and people start analyzing it and they realize that this picture basically and this is actually autism capital my favorite my favorite source of news they actually tweeted this out and they go if you look closely it's actually a stimulant patch that sam that sam was wearing and it's called em which is basically a drug normally used to treat depression or parkinson's but for off label use people use it for alertness and focus benefits and so they go down and and they talk about it so e s a m that's the brand name drug but it's really what is it how do you pronounce that ce i don't know ce i believe is what it's called and it has fatal effects if it's eaten with meat products which is interesting because spf was a vegan so that kinda checks out and the downsides of it are that it is linked to impulse control disorders such as pathological gambling and hyper sexuality which could lead to some of the weird things that that sam was doing and here's what's even more interesting in march of two thousand nineteen there was this like website that was built for users of this drug and in two thousand nineteen this person left a post and it said where basically he was reviewing his thing and at the time if you do the math sam beck freed was nineteen years old about nineteen years old about when this post was posted in two thousand ten and i just wanna read this is gonna be a little bit long but it's really interesting i wanna read what this post says so it says first off and this is a review of someone using this drug first off i'm a nineteen year old male about a hundred and seventy pounds who is experimenting with new topics out of curiosity a few months ago i ordered a bottle with sixty doses of five milligrams of ce ce from a research chemical site and it looked and i've been taking it pretty much every day the day i started taking it i noticed a market increase in motivation for me it was money there was a huge desire for me to make as much money as possible i never been a material person at all although i had money i never thought about doing anything with it other than spending it i guess some might say that and then the arrow kinda screws me up on twitter but some might say that possessing money is a bad thing but the feeling was and is and nothing short of complete empowerment i love doing math problems in my head involving money the thinking was so clear from having a bit under five hundred dollars in the bank to having over ten thousand dollars and two months that i since i started taking the drug of course i can't quite disclose how i made this money but i have to say that i engaged in activities that i probably wouldn't have without ce lien and then i'll i'll kinda like skim the rest of the stuff but it says i was motivated to use better vocabulary while speaking to people i used to be pretty goofy and not many people took me seriously but now when i talk people listen there's a notable increase in strength in voice and i would say i probably had low confidence before taking this and now the words that i say instead of saying may i form it's i will it makes it makes people tend to look it makes me tend to look down on most people but not in such a way that it would affect friendships although a few friends mentioned to me that i changed because my general mindset there's probably sounds incredibly cocky but it's true confidence i'm still nice to people it's just that it's just now they've seem i it just now that i look more confident another benefit is emotional numbing before taking this i would jump on any chance to be with a decent looking girl and i'd become attached pretty quickly on it i'm completely rational in my emotions my emotions are never affected by my thinking i'm not even looking for a girlfriend until one can rationally show me that she's really worthy girls love to play the game to say the least i'm a calmer i'm calmer with a without emotional outburst when i get upset with people i simply use my enhanced charisma to undermine them rather than losing control this is awesome be actually thought you're gonna have like are you trying to take this right now we'll no my enhanced charisma i increased desire for money no patch with my first million in it dude i i was prescribed brittle for my like when i in fourth grade and i took it for one year and it was the fucking worst since then i've never taken any of this crap so i hate it i hate these in instead but this is a pretty good commercial this is a pretty great this is pretty awesome it's also like what if this is him what if this actually is him it is it it's probably not him just by odds but way maybe to assume that it is him and you know as we say f this guy so so yeah it's him as far as i'm concerned but even if it's not him this this person it if you go to the website by the way where this forum it's like a nerdy form like i it it definitely like there's no evidence but it adds up to where like i could i could i could see that this could be him but even if it's not him the way this person describes it makes a lot of sense for how this guy behaved no excuses but like this guy was great i i feel like these are gonna become excuses for his behavior no i'm i'm there's no no excuses this guy is it this guy is that he did all of this under his own control and vol and and that's just that's where i that's i stand well it's there's no excuse because i just brag about it you know you tweeted he tweeted it another thing where he goes the best thing i do is take stimulants in the morning and then sleepy bills when i have to go to bed and then i'll just round this out i didn't this was another funny thing the this just is explains why this is sounded an excuse the former c chief executive of alm he bought a boat shortly after stepping down in august only months before the trading firm collapse and he named his boat that he bought soak my decks yeah yeah you get rid this a stuff but did you know like the you know one of like the of most damning things about how f t collapsed i feel like this kinda gets lost in the shuffle of there's a whole bunch of details and it's kind of overwhelming but one of the truly unbelievable parts is that they just lost track of eight billion dollars and he called it poorly labeled fiat accounts and what this actually was his explanation as far as i understand is at the beginning f t x when they launched the exchange or trying to move fast kinda scrappy start thing they didn't have their own bank account and he was running alameda before that so they're like oh cool just send the money to alameda and then we'll we will give you the credit in your f account and they never true it up they never moved the money from the alameda account to the f account it just accrued in the f in the alameda account and then they just used it to trade so the the money literally never even made it to the bank account of the of of the of the company itself and that's what he meant when it was like people are like did you loan the user's money did you did you do this against the terms of service did you did you lend this out or give this away to your other company it's like no actually i never even got it it went straight to their bank account i never even realized it we forgot to like connect the link later and so eight billion dollars of deposits just went straight to alameda and never even touched f t x and we were just like it was just being like there's lazy on the account yeah lazy uno disorganized or fraudulent right like you you take your pick you know pick pick three as far as i'm concerned and so that that i thought was crazy so you know these stimulants aren't aren't so stimulating if you feel like forgot to to like you know pick up the eight billion dollars that you you know your business is generating like if you get beyond the fact that people are hurt here which is a big deal but get beyond that it's hilarious you're like it's funny it's funny like this is like like just what's funny is how ridiculous this is and and i fell for it too but it it it's wild this is a wild story i wanna see like you ever seen the movie mis con where sandra bullock from this like you know butch cop to like a beauty pageant queen and they like transform her i wanna see the version of that for f t x which is like sam is normal looking that guy they're like you know grow out your hair he's like what you mean it's gonna look completely dish she they're like yes the dish she equals genius and they're like hey when you're walking turn your knees in he's like it's a little uncomfortable they're like you need to walk like this okay and they're like hey you you need to put this batch on and they're like hey can you start saying things like you know this is a twelve sigma event like what does that mean they're like don't worry about what it means it sounds provocative him and so they you know they're training him to be this like you by way autistic hero you know nerd that everybody's gonna believe in he's the type of guy who probably wears a backpack wherever he goes and he doesn't walk runs he's he's that type of guy did you see the clip of him running through the bahamas was he running it's hilarious somebody said there's a clip post on twitter i'm i'm sure you're you're your boys that autism capital will have it on their feet but basically it's like sb spf on the run and it's literally him wearing a backpack running and he's doing the run where you know like most people run like this you put your hands behind on your back he just had straight arms and so he was just swinging his straight on and crying that's how they running me like a penguin running as fast as he could just down the street and they're were like where is he going god that's crazy man this whole story is crazy crazy crazy he he came some more stuff leaked yesterday or like he did it he did a random interview with somebody who's like you know a youtuber with ten thousand subscribers he like decided to give her the scoop and he's like she's like she she goes so what what you know she addressed each of the concerns she's like so you know when you guys reopened withdrawals but only for the bahamas where people felt like maybe you know the employees yourself included and insiders could cash out and everybody else was stuck and there's was like twenty four hours where you guys you know people in bahamas could withdraw and nobody else what was that about and you know their the previously they had said oh the bahamas government ordered us to do this that's what that's the first lie he had told and then the bahamas government came out and said we didn't do that what he you talking about so that was kinda debunked and so then on this call he just goes yeah that was a decision you know we had to make because you know it's funny you don't wanna be in a country where everybody's angry at you so we had to do that just you know because f is based in the bahamas if we just didn't want to be in a country where everybody was mad at us it's like what this is literally you're you're were saying this out loud like that was your reason for this like you didn't want to get like beat up basically like you didn't you don't wanna get your door kick in by the government how can you have okay so let's get beyond like the crime now this is the stage of a criminal period were you supposed to shut the fuck up you don't talk you say i plead the fifth where's my lawyer i don't talk i go on on tour he's going on tour he's at speaking at a new york times summit with zuckerberg and like you know these politicians i think mike pence is speaking there he's going on tour i think that's today by the way i think he's he's yeah he's going on tour and i don't think he has any idea what he set trying to say because none of it makes sense none of it sounds good and his parents are lawyers himself more yeah but lawyers and then he tweets out this dumb stuff or he's just tweeting like letters as a joke this guy is just what the hell hell you're you you shut up you don't say a word don't say a word you shut you i hope he keeps talking keep talking keep talking boy yeah can you keep talking i just wanna hear we hear what you gotta say let you go ahead build your own trap that's fine it's crazy so i had to bring that up and then another scandal you you want wanna can i give tell you one more interesting scandal this might be less interesting but it's interesting nonetheless the so we talked about this guy named liver king a while ago do you remember that yeah liberty king the yeah just for those who know the ultimate meat head this guy looks like a caveman he's absolutely jacked and he's just like always eating like raw you know kidneys from a cow like and he he's just butchering and eating it so he basically the background stories is this guy owns a company called ancestral supplements or something like that where it's all like liver and meat organ supplements which i think that's great i i i like the people who i like filed they're like yeah that's like fine that's a fine you're in the demo let's just say yeah yeah like i i i i guess that's good for you with persona it was called there you they're they're like instead of joe smith or jane jane doe they're were like okay so sam par is online how are we gonna talk to him how are we gonna get this kind of buyer like liver tablets so it came out yesterday that basically this was another more place where dates thing that more place where dates this youtuber name's derek he got a hold of these email exchanges back and forth with a doctor that brian johnson who's the liver king so basically this guy looks huge he's y he has millions of followers and he's makes a hundred million dollars a year on supplements they have these documents of these emails back and forth of brian saying hey i'm gonna get popular on social media in the next month or two i need to look totally shredded here's the steroids i currently take i spend fifteen thousand dollars a month and here what else should i be taking and so spoiler alert he's on steroids but that's not the interesting thing he's on lots of steroids and the reason this is a big deal is free for the past year or two he's gone on and he's explicitly said there's not a chance i'm on steroids no i'm not on steroids i only do this because i eat my liver which you guys should buy to at my website so that's shady but whatever he's on steroids but here's what's interesting i wanted to call out a couple different things in the email that he wrote so he says let's dig right in as it relates to my goal i'm the face of several brands including ancestral supplements and i've hired a team to build the liver king brand with a goal of one million followers by two thousand twenty two i looked it up he had he wasn't even really he had zero followers he had like single digit thousand followers when he when he wrote this in an email and he hit a million followers before this number before march twenty two that's pretty impressive he says i've hired a film crew who's who's living at my house and they're filming they're filming constantly and i got to staying in great fucking shape year round and what's interesting is that he nailed it this guy totally called his shot and he hit it and if even though he's a liar i respect that and so he basically says that he goes i live on i live on a fifteen acres on the lake and have everyone come to me my ranch is five hundred acres of paradise i don't go out to eat i don't go bowling i don't go to the movies i stay home and people come to me that was kind of interesting but here's another funny thing that he wrote the doctor asked him all these different questions about like what foods he's allergic to what is current daily routine is what type of fu he's eating and then he says what type of food this is funny what type of food do you like to eat that isn't body building related none even when i eat sushi i have a sushi chef come over and make it exactly how i want it if i ever have ice cream my my my wife makes a c c ice cream made out of first milk c i don't know that it is egg yolks vanilla extract and a little maple syrup and implicit of us he goes you should come over and fuck some of this shit up with me doc and and then he says the doctor says how's your mood as you go deep in your diet can you function and continue with your jobs and deal at friends and family or does it become increasingly difficult to maintain your obligations you know outside your body building goals listen to this response i can do anything i'm unequivocally strong in mind heart and spirit and even though this guy's a liar i gotta dig it i dig this out attitude let's your moral code straight alright guy proven liar borderline scammer for lying about you know what causing his gains weirdo absolute weirdo absolutely absolute weirdo it is daylight routine he goes first in the morning redeemed himself in your eyes hold redeemed himself no not not quite it it's kinda like lance armed armstrong cheated sued people for saying he cheated ruin people's reputation well it was a real competitor real real competitor okay on podcast gotta love the guy yeah so like make for us you're good in my butt pete that you know people you know they're you know my dad used to say no matter how in a pancake there's always two sides to it and i wanna a gem yes so anyway kind of interesting that this guy he says he's spending by the way fifteen thousand a month on steroids that's got any eddie he goes i'll spend whatever like i i need to get this done so i just think it's interesting that he had a goal he called his shot and he nailed it that's interesting was willing to go all the way and all in and did it his way so you know there is there is respect we do put respect on his name even though he was a liar and scammer that's that makes sense to me though i'm like i'm with you other people might hear that and be like what i don't get it i totally get it i'm the same way absolutely the same way i we were seeing sam's camera go in and out of focus we're just we're working on the the new studio look we gotta figure out some settings so just might just have a seizure today but by next episode you're you'll be totally fine alright so let me give you one while we're on this time actually i wanna do two things number one you've said the more plates more dates sky a couple times now you know is that a dog whistle to try to get him to come on maybe could be but totally it is i love this guy man but you also tweeted something out the end of the day and i think he's a good example you said something like the following you go to have a great podcast you need either like three factors and yeah i think you said unique slash amazing content unique slash amazing delivery and then the last one is unique slash amazing perspective so like you have specific knowledge or insights that like you know the average person doesn't have and you said you need at least one to have a a successful podcast two is a she was great three would be unbelievable but extremely rare and you got a bunch of replies to this and i would i wanna first ask you i wanna ashley a little bit about that but also let's use this guy derek for more place more dates as a as a as a case study here i think he's a perfect example of what you're doing so unique amazing content before him i didn't see any youtube channels i'm sure there were some but they were nobody is popular but there wasn't like a common wasn't a common content category to be like i'm gonna make videos speculating is this dude on steroids and if so what roy do i think it is that's his that's his entire from of his channel from a non judgment perspective this next eric says yeah here's what i use he's not trying to blood work he's not trying to take them down he's just trying to speak honestly about what he thinks he's like here's my here's my guess if i'm this dude i'm looking at looking like this is what i'm doing and you know here's the evidence that i'm piecing together to make that that claim yeah and so need content check unique delivery his delivery is actually very very good it's very good it's because non judgmental because it's not over produced because he's not trying to sell you something and during the thing and he's just like humorous on laughing about it so he does it without like there are other people that do this and they're either judgmental or they're like i'm ripping the mask off this scandal like i expose and he's just like he's like like you know he'll like the guy will claim he's all mad like alright sure bro like whatever you say right like i don't think so like that's the level of like his delivery and then he and he and he has a lot of really good phrases like he'll like oh this guy's look at saucy here yeah he's like he's exhausted to the gills he just wants to be a little saucy that's alright like he just says really funny funny ways his delivery is good i don't even care about i don't have any interest in steroids i don't even care if other people are taking steroids i will watch his channel because his delivery is so good he's so likable like he's very likely watches his channel like i would be friends with him and it's actually a self compliment it's a self delusion that you think he would be friends with you because the guy's like just he just seems like a good dude a great hang so i think that's the second one third amazing perspective he has he has at also because he actually has quite a bit of scientific knowledge but also like street science so like he's not just straight academic nor is he just a meat head he's got enough knowledge about the science while having enough you know sort of street smarts about what it dudes is actually use when they're doing this stuff and how do they say it makes them feel what do they say or the side effects dude he's so good and you wanna know another interesting thing about him is no one knows his last name so i i actually tried to like google and i only spent five minutes i'm i'm sure i could really find it but he's done a really good job everyone just knows him as derek from more plates more dates and you can't find a lot of like personal information about them wow that's interesting i didn't know that and he records i think he records every i think he makes a video every single day so he makes a video every single day and he's got one point five or two million subscribers and it's really good and what's really fascinating is that there's guys like him who they don't call themselves a journalists with a capital j but they really are you know these guys are doing investigative journalism that's quite good it's better than a lot of different stuff out there that's done by the quote professionals yeah yeah totally so yeah he's he's great okay so that's a good example should we can skit we continue the theme of by the way for that for that podcast one that i quoted i i further i said i go let's do all in for an example their delivery it's decent i said it's decent which i thought was like a compliment but i was like delivery is is pretty decent they're not like a comedian you know they're not like cereal or like some like investing in well well produced and cut and edited and or or like a unique format that we haven't seen before it's like you know four dudes on a zoom call yeah four guys on a zoom call sometimes speaking through airpods and like they're quite funny they're quite charismatic but they're not like ten x better at that than other people who are i'd say it's definitely above average like you know the intros they do the kind of ball busting and like the way ten times that's not ten times better than the other people who are just a batch of that magnitude i'm comparing them to like the other like people who are doing great yep it's maybe better it's maybe worse to some it may be better than a lot and then what else did i say i said their delivery was was was decent their content like the the format and everything that's just normal just four people who are speaking it it's kind of rare that you have well they're talking about current events which is not like current events and news which is not like super unique it's not a super angle right that in itself is not the unique part but the thing that makes it amazing is that it's them it's four people who typically who have incredibly like un godly successful potentially some of them are billionaires and they sit down every week and they talk about all types of stuff in an unfiltered way that is ten times better than most things that are trying to become that and that's why they're awesome and people including jason i i i think jason one of the hosts he was like i think he thought i was insulting him and i'm like no dude this is like this is a compliment i said like it's it's a it's like saying like lebron is like good at a lot like he's so so such a great basketball player but maybe he's not the best at blocking shots or whatever yeah and people got mad at me and they're trying to pick a fight and that was not my intention i i to me i was complimenting them yeah yeah yeah i i thought you were confident them but you have a way with words where you'll like you'll add a little period after a word you'd like it's decent period and it that that kinda sounds like you know like like hey this you gotta you gotta watch the periods dude the periods totally change the tone like if you're using a period like it's fucking twitter i have like a hundred and ninety characters and you used one of them on a period and you know that that that that that thing that adds that adds the tone right i did mean it that way i did not meet it that way well you also double down after he was like you know whatever he put the i took that personally meme up there you're like you know i said what i said it's decent oh i didn't double it down i i don't backtrack i'm like dude it yeah your delivery is like pretty good you're not like feel von you don't say like the most like funny shit on earth you say pretty great stuff but whatever that's my point send the kind of guy that doubles down on a seventeen in vegas is like whoa sir you sure i said what i said give me another card our software is the worst have you heard of hubspot see most crm are a cobb together mess but hubspot is easy to adopt and actually looks gorgeous i think i love our new crm our software is the best hubspot grow better alright so i have one that's not it's not in the category we did spf liar probably fraud scammer whatever we did lit liver king liar probably scammer probably allegedly whatever this is not that but i am calling this the curious case of katie hahn that's right music for that music what was that music that's my new that's my new like x files it's style music whatever we're getting into a a little case that makes me say how does this work so how do you spell this woman's name i wanna do google while you're talking katie like katie as in jd and then han h a u n okay so she you know i think you probably know of her seems like a great person so you know i think her her backstory is kind of like you know went to stanford law and then worked you know for work for the government so she i i forgot what her she's like federal prosecutor or something it was for her job title let me find my notes here so okay so she she goes to stanford for law then she spends a decade as a federal prosecutor for the the doj and she's you know and then she creates at one time the government's cryptocurrency task force us and we know her because she was involved with or helped i think after the fact with the silk road case so the silk road was you know that website where people were buying and selling drugs and you know you could buy anything assassination attempts so you could buy a lot of lot of crazy shit on there they eventually take ross down in your your neighborhood in san francisco and after the fact they you know have all this bitcoin from because silk was using bitcoin for most of the purchases and so she's involved in that case that's kinda how she got on my radar was she did a great interview with tim ferris where she's talking about that story so you know i hear the story that's kind of amazing like this person who like you know was just grinding it out as part of the government and that's kinda was the impression i had of her was this like awesome civil servant so imagine the look on my face when i hear that katie hahn just purchased a forty one million dollar home in at forty one million dollar home what's going on what's going on here katie h like what do you how much she have to be worth to meet forty one type go go to doj average salary federal prosecutor ninety four thousand to a hundred fifty thousand okay so she worked there for ten thousand years no okay that's not it so what what's what's been going on so katie's in at one point she wait with that doj seller she could pay her property taxes for a month yeah the ga is like her property is making that so so but you know she she made a switch so she did the decade there and she's doing these like i forgot you called like the rico cases and it's like these crazy like drug cases cartel stuff and then she makes the leap and she comes all of a sudden she's a vc so she becomes a vc at and h in two thousand and eighteen she joins as a general partner the year before that twenty seventeen she was named to the board of coinbase that's interesting i guess like you know they wanted a diverse board member who had a different background coin best all you can't you can't say that she's a dive i mean that's bullshit no i'm saying like her her work history so she's not a gus person she's from like a regular the regulatory like you know okay side of that's her expertise that's a good person to have on your board somebody who know who was part of the government's cryptocurrency task force definitely see the value there but how much value is what i gotta asked that's the question of the day how much value and what's this too much value okay so she joins the board and she gets so okay no on the day of her ipo it was worth seventy three million that was april fourteenth twenty twenty one and she sold pretty much the top so she was selling at yeah you know she was she sold at that that price and then she sold even more as it went up to like whatever three hundred something dollars a share it's currently trading you know for far less than that so let's see what coinbase is trading at today coin stock price i think the forty something bucks a share yeah forty one dollars a share so you saw that like the whatever three hundred three eighty you know three yeah type type of range almost so so sells the absolute top but what i have to the the question i have and i'm not sure anything wrong or illegal yeah have more power to you but i don't understand is why did this person get a hundred million dollars for sitting on the board is that not an outrageous number so like there i i don't think there's any wrongdoing doing but goddamn how did somebody make so much for doing so little like a board seat you know a board member does not work very hard for the company a board does not usually create this much value i thought the board members typically got like two hundred fifty thousand a year like yeah that's normal board compensation so what i wanna know is why did this board member get a hundred million dollars and i don't know if you know the answer to this but that is the that is why it is the curious case of katie hahn what what well you're asking this question you're asking this sounds like a leading question it sounds like you have an opinion but keep in mind i'm looking just at a long looks about these things i she founded a thing called han ventures which is which has a one point five billion dollar fund that's focused on web three and i believe she's the only partner so the fees on that alone two of venture capitalist gets two percent management fees on is typical and her one point five billion fund and she's the only partner i think that's thirty million dollars per year that she takes us her management fee it's fucking crazy and when she was at andre again hard to know the exact specifics here but like their their a sixteen z crypto fund was seven billion dollars i think at the time there were five general partners you know so i don't i know exactly if that if that number's the total after coinbase exit or if that's what they raised i haven't gone that that far in but like i think it's it is believable that she was making thirty million dollar that she's made thirty million dollars plus off of her slice of the crypto fund before she left and by the way i think her portfolio there coinbase was the only one that that has exited there's or are we there's autograph there's royal there's much of others but like these are these are early early bets right because it's we're only talking four years ago when she joined the fund so kinda crazy that somebody made a hundred hundred million dollars plus off of off of their board seat after working for the government for ten years ever yeah and so i don't know what's going on i don't know if this is like a very fancy way of like buying favor in in washington it's like hey we're gonna get this veteran who's super plugged in you know great she gets this you know really really really really really really really capital really strong comp and you know she's gonna make sure that the right people you know think favorably about coinbase base i don't know if it's that i don't know if this is standard i don't think this is standard for what board members make that's crazy just very what did the other board members what's going on there did you look at the other board members the during the s one you could see kinda who the other major shareholders were i didn't see any of the other board members that were there but i could i could be wrong so there's mark is there fred willis and those are the investors maybe yeah i mean hers is just outs outside so like i don't know who who's is go cool raja i think he's i think he might have been another board member so let me see coinbase base i don't if you worked there if he's a board member but he got you know whatever he had was six hundred thousand shares hers was five point nine million shares so like you know just definitely like a step a step higher yeah she he was also a board member so like for some reason she got ten times more and her stock grant than this this dude go did this is yeah this is wild things that make you say i don't i i i agree this not very curious say it could be a perfectly reasonable explanation for this i don't know it i would love to hear it and i'm not i'm not owed any explanation either i just thought this was weird because i'm like how the heck did this person who worked with the government for almost their whole career except for the last three years how were they buying forty million dollar pads that doesn't make sense to me and then i looked at where the money came from and then that didn't make sense to me but again that might be my own limitation of of you knowing how this stuff works have you ever spoke to her or like heard her speak i've heard her speak yeah she's she's you know whatever she tells cool stories i i heard her on a couple of podcasts i have she's invest she's c invested in some of the crypto deals that i'm in so i'm not saying like you she's a bad investor if she is then i'm probably i'm terrible so so you know i don't know much about her from that angle but there was one other funny thing so there's is a guy who l shapiro i don't know if that's don't know if i say that right but have you seen this guy on twitter there's a fan of the show we listen to the show he is also the number one like crypto skeptic on twitter so his mission is basically to just expose the like you know like the fallacies scams and hip critical things about web three and so he tweeted this out four days ago he goes opens seas lot large investor katie hahn claims that n entities have many uses and invites us to check out her latest purchase okay let's check it goes to her profile on on on open sea and it's called wrapped moon cat and it's just like this purple cat it's like okay that not only has no uses you know besides just being a funny little purchase her account has zero activity since june if you weren't using n entities yourself maybe you shouldn't keep investing in the space and you know so he's kinda call it her out of that now of course she could have other wallets or whatever but like it is a little strange that know the kinda lead investors you know in in opens the biggest you know n nfc platform doesn't seem to have much activity you know do them on the platform absolutely beyond this woman i've i've like do you do you like look at zillow and like read like the real estate like trade magazines of like you know anytime someone buys like a fifty million dollar home or twenty million dollar home i i love reading that stuff do you ever read that stuff yes and actually call to action i wanna i want to to know or help start one of these instagram accounts that's just featuring baller homes that baller buy so like i just want like celebrity business celebrity kind of like yeah homes that rich people are buying like who are they how are they rich and what's their home look like i think that just be a great instagram account that i wanna follow and i i don't know if that exactly exists so so somebody start that please and and i i i love that stuff and i always think about the economics of that of like how do people afford the i don't know thirty forty fifty sixty million dollar homes i wanna know what the monthly nut is each month if they have a do you have to have a full time staff member just something home there's no mortgage right i don't that's not a mortgage you're not i don't know what do you doing are you putting like getting like a forty million dollar mortgage like i i i don't know that's why i wanna i wanna know wanna know what the tax bill is i wanna know how they actually care for i wanna know what their liquid position is and like how they finance it if they pay cash like what they do when you have a forty million dollar home is that like do you view it like for example when i think of a home owning a home i don't think of it as necessarily an asset i think of it as like a store value because it typically don't grow much more than inflation and so like do they view that as like an asset do they take care of it of like like an asset like i i just wanna know how they how they account for it in their in their net worth there's so many fascinating things with owning these forty and fifty million dollar homes i wanna know all about how they work and frankly i just wanna have huge that shit i just wanna have one do you tip the landscape or do you not tip it i'll like dude who cares about all these details man i'm wanna who bought it how they get rich what does it look like and how can i get one those are my friends i'm i'm about that too man i just i'm always curious about how that works because in in new york you see it like crazy you see people buying twenty thirty million dollar dollars homes and there's you know it's another shocking thing is how many of them there are there's so many of them i read this blog called matching global and they always talk about like different mansions that are being a bought and sold in new york there's just so many of them san francisco there's not that many twenty thirty forty million dollar purchases in new york it's constant and it's like a fucking condo it's crazy yeah i i think i told you this once but when i was working with michael birch he put up his he he it's for sale right now i think he put up his house in san francisco and so i think sanders like three years right i think i was out at his house and he's yeah i was like you're gonna sell this place and he's like yeah to sell it i was like so you bought this for like thirty million dollars he's was like yeah i was like the the highest purchase at that time i think in san francisco and he's like i was like well i was like was that was like you over pay or you're gonna have to you can take a big loss on this or he's like no i don't think so and so and then when he came out listed he listed for fifty million dollars which it didn't sell that but but you know that's kind of like the the range here and i was like how do you even sell a house like this and like what is the process do you just put it on the ml you have open houses on sundays i problem head flyers and so he was like no actually this is a one of the ideas i wanted to talk to you about like i'm thinking like what if we made a service for buying and selling these like only homes that are worth ten million dollars or more he's like because it breaks the traditional model like you shouldn't pay six percent commissions to an agent when the when the purchase price is twenty million or thirty million dollars that how much they pay well that's just like it's the standard real estate model is that right is the five or six michael goes and like tries to negotiate and they're like oh you know our paperwork already says six percent like it's gonna be a hassle like change that six zero one i'm gonna have to hire somebody for the social media and it's like yeah like if you know like a month like what are you talking about here i'm like it's like i didn't make up the rules i just thought them up and wrote them down you know like so he wanted to make a thing that was a service for only selling homes that are ten million or more it's a it's a flat one percent commission that's it because we could do one percent on a twenty million dollar home and it's it's pays for the actual service that was done by the person who's doing it he goes second it's one broker not two so you have you know you you're basically that you're gonna take both sides because no open houses because like people just wanna walk through my house they're not serious buyers so basically anybody who does the the open house tour there's like on the website itself you'd be like almost like an a accredited investor it's like you need to show that you are able to buy homes of this caliber in order to get access to the open houses i actually toured michael's home i was one of those people i i i saw that they are having figure sandwiches mud all up on your shoes yeah like free sandwiches when i got there i was gonna keep bummed like yeah sandwich i was like my no ham so he's like you know that's one maybe be one difference and then he's like you know the the or he's like the the brokers commission on top of the one percent is just a tip based on how you felt the service was like if you felt like you were taking really good care of then you can optional tip and so he like this plan and he's like he's like figure out how many of these houses sell so i did some analysis and i was like oh there's you know i i forgot was like seven or eight years ago but it was thousands yeah i was like there's like you know five thousand or ten thousand homes like this sold per year okay so you backed that out average home let's say is fifteen million that's in this category so that's x hundreds millions of of it was like in the hundreds of millions of sales you know so then your one percent commission would be x and like okay how would you take the market oh these are all your friends okay that makes sense we can get the first hundred hundred people just out of your network that makes sense we never pulled the trigger i think we should've have because i thought it a great idea i in fact i had a whole brainstorm with them which is just like you know what are the one percent problems like tell me the the like i got you know my problems sound like i can't even speak about my problems because they sound too privileged because they exist and nobody's talking about them and you know them we could build for them and you know all the people that are in that group so you could like kind of help bring those people on board of whatever service we may we make so so yeah that does i think a a good brainstorm in general dude i think that's awesome i think i can't decide if that would be a pain in the ass of people to work with or if it would be the best person to work with you know like are they are they or are they not going to nickel and dime you if no then yeah it could be awesome well i don't think it's necessarily about nickel and diving but this is how i feel about all businesses that are based on influencers it sucks doing an influencer based business because you are pretty much always grove at the feet of these people who they should take your offer it's in their best interest but they are just busy and they have too many offers and they don't care and even if they say yes then they'll just flake on you even if they say yes when it comes time to post the thing it'll be done half done and you're like oh my god this is like we really needed this to work this was really important to our business and like you know it's so difficult to do stuff like that of course when it works it works right like you know you build one of you know you build the whiskey brand with conor mcgregor or you you know you do the honest company with jessica like you could make it work for sure but i hate influencer based businesses i remember i remember talking to a buddy who was building something around twitch when we were both in the twitch space and we're twitch is basically like you know there's a hundred streamers that matter and if you can get them else will follow if you can't get them it's very hard to make stuff work and i go i'm like i'm like i'm talking him over over dinner i'm like what about this strategy what about this strategy what about this pivot he just he let me the i'll never forget it because i heard this and i ended up pivoting my business because this just rang in my ears for so long he goes i'm just tired of suck dick man and i just met this person i didn't knew this this is like my friend this is only met for a business meeting and he said this to me and i go what and i i i asked of what and then i immediately knew exactly what you're talking about it's the i been doing for the last year which was basically going and trying to get these like twenty people who really really mattered to just like watch our demo to like just say yes to like just partner with us or just agree to take our money to promote our thing and i was like she's right i hate this i really really hate this and we pivoted like three months later because i was like that's is terrible this is terrible style of business to build well thank you katie her bringing us to this topic the curious case of katie hahn yeah i do to put it sound good no okay dude you're gonna get dms about this so well i'm sure we're gonna have a follow up dude had already hates me man they why did they hate you mark blocked me again you blocked first for the club house thread which by the way not only she did not blocked me where's my where's my apology where's i was right i called that shit i was that was a bad investment was gonna fail i called it okay so you know he blocked me then that he unblock me for some reason and you know i got a second chance second least online why did he unblock you just think about that through his head like what was he going through his his going is what happens settings to be like oh let's just someone sends someone in the firm sends the post the thread he clicks it it says you can't view this you have blocked the person i got fuck unblock the person so yeah i'm i that's only thing i imagine how i would even show back up on his race no maybe just laying in bed going through his blocks like oh i missed him the one that got away but yeah like i wonder what he's doing now what what he's up to now like do you think we're staring at the same moon right now he's looking at the sixty five who work for him and he's just i just need one more i just wanted more i did none of these are right well i of them are above six feet tall i wanted six foot tall one so know what happened but unblock me and then the other day he blocked me again i don't know i don't know what i did i'm not i'm not even mentioning this guy i think what did was i i put out that tweet that i said like you know this year have realized that like a lot of the things that i thought were smart money and you could just kinda of them or just assumed they know what's going on like there is no smart money in the space f we ever thought was the the quan geniuses quan genius traders fucking dummies and scammers and then you know cha ben spa this is the ipo two point o oh this must be great nope spa collapse you know they'll these are all but he didn't mention him lipstick on a pig i did mention him oh i didn't see it you specifically named him no no i didn't name in mark reason i just said a sixteen z like i got whatever i wasn't trying to pick on anybody i was just saying like yeah you most prestigious names also make a bunch of bets that don't work out that's part of their business model this is what i was trying to say this part of their business model you can't look at any anyone bet in isolation and say well if they did it must be must be good it must be smart must like they must know something that i don't know in fact trust your own gut trust your conviction trust your research because you know you don't know their whole portfolio you don't know the strategy and they're gonna make mistakes that's part of like venture investing so like you know don't don't just assume because the really smart person who you like to listen to invest in this that doesn't mean it's a good investment necessarily do you think that having like being an asshole on the internet like i don't think you and i are assholes but both of us sometimes get into it with toes do you think that we toes yeah just just a tip do you think that that is gonna bite this in the butt or that it helps us or should we just go to the nice guy route like like i can think of a few guys who are assholes and it's paid off for them or not assholes but like like scott gallo and jason gal both cause a us they get into it with people and it's and i would say been a net positive for them there's a few other examples where i can just say it just has ruined the reputation but do you think then there's other guys who like jason lump who did it jason i don't know i mean there's people i follow i'm like oh you're just a joke and not even i don't even wanna mention them because i i just don't wanna do that but there's people who because i i think of them no i definitely can and i'll tell you all fair but like i you i i messaged you one the other day where i'm like this person i just it's it's yeah they're working through some stuff okay gotcha and anyway i just think that like sometimes it hurts a reputation but other times it's like it's definitely been beneficial where there's guys like you know who jason lump is i love jason he's disaster yeah he's great just generally a positive person and i never say hey here him he goes out of his way not to disrespect people another guy guy's is nathan barry goes out of his way in nine out of ten times to not disrespect him not disrespect people the one time he called someone out which was gum i was like oh well gum road must be bad because nathan never is rude right do you think that being rude has its benefits or you gonna try and be like the the nice guy both i think i think being a kinda call artist has its benefits is very addictive you could be right you could be wrong kinda doesn't matter you're provocative people pay attention to you people fight with you it definitely draws attention if your goal attention it definitely works having said that doesn't really generate a lot of pos like positivity in your life and doesn't add a lot of value typically sure unless you go full on like a w care which is what i consider like scott gallo to be where they just you know hey i'm gonna take this super strong stance i'm gonna argue it and like know if i'm wrong like the truth kind of the truth or accuracy is like sort of secondary i wouldn't say it's not an important but it it's secondary like the more important thing is to have like strong opinions i get share they get read they get commented on that caused a debate because that's the that's what makes that's what makes that's what drives clicks that's drives followers things like that so there's strategically i see that advantage life you know like life e i think it's kinda net negative and but i also don't think you should just be like mister nice we know a bunch of people that are i like this that we'll talk mad shit and text messages to us but they won't then publicly they'll suck up to those people and it's like that that is disgusting to me that i actually judge the worst i would rather you know just speak my mind but sometimes realize that like you know a i'm wrong you know more often than i'm right and mb like sometimes it's just not worth the hassle like you just don't you don't need to say anything at all you could just kinda go on with your day is there any time that you've been rude to someone on the internet and you've lost sleep over it no no can't happened that's crazy to be that's crazy to be but you do that you you feel bad you feel guilty or something or what what happens yeah sometimes i'll say something to someone like oh man i i i was too rude i i came older i'll question it like i'll say that was maybe a bit much or like you know i should've just stayed out of it or whatever but it i don't like i guess loosely just sounds so serious like for example when i wrote that club out there when i wrote that club i started i remember getting a message from i won't say their name but somebody i i respect i admire somebody super smart and somebody who's kind of like you know loosely affiliated with that that you know there's like the project so and they were like oh man this twitter thread like you know i'm torn on one hand amazing storytelling and i think you might be right on the other hand i don't really like you know tearing down like a startup like you know startups or you know small fragile things like you know i don't really like tear downs in general we should be building each other up but like you know this was a know whatever this was like it was super interesting the way you wrote it and and i was like yeah i think that's right like i think that's a fair i think that's a really fair point like you know i have nothing against them i felt like i wanted it i was like i was rooting for to fail or anything like that i just thought this is what might happen based on my previous experience in the space and i thought this helped my might play out and i just wrote it and i just sent it and i thought oh you know there's something to that you know i don't really wanna you know even though i know i could make it my thing to be the tear down guy i don't like where that leads me right right hey that's a that's a i wanna corner myself in that area so you know what like let's just what i'll often do is i'll say it i'll say it and was let me see how that goes let me see how i feel about that and maybe later i'll say you know what i should've just stayed out it i shouldn't have said that or that was too harsh or whatever and okay lesson learned but i just move on from it i don't really like you know do dwell on it it's i got i'm okay float you know like it's a trial balloon and it's like let me just put that out there i'll do this with ideas all the time too be like i wanna do x anybody wanna work on this with me and then people do mean be like you know after i see how kind of like the first three days went and i kinda slept on the idea a bit like no i'm i'm just not doing that and i think people find that very strange and like but for me i'm like this is like an experimental platform like i'm not like i don't know it's not that serious it's okay to like say something and change your mind you know based on you know further reflection or information that's okay like when you tweet it out that you're gonna put x amount of your net worth into crypto and then someone automatically wrote an article about it if you're like well you know like there's it's a discussion no no i did that one but they specialty thing like this happens all the time people could tell you when they buy they don't usually tell you when they sell and or they don't tell you if they hold right like they don't tell you either direction so people make a whole lot of assumptions about things like you know somebody told me i remember somebody told me the stock was great and then like turned out to be dog and i was like oh man we we got busted on that when he's like no i sold but like at was like dude where was my message for that like you only told me the body part alright that i think that was a that was a lively discussion what was that is that the pottery you wanted to do one more no that's the pod i have a bunch of other topics but yeah that same for monday we have a bunch of cool people we have austin reef from morning brew coming on formally my nemesis now one of my great friends he's up come are the cool people that are coming on got we have a photo another by the way is austin saw hill these are our friends we we make fun each other all the time and you know it's just a it's just a competition because we who can who can get the right z in on them the other person at the right time we have austin do we have anyone else interesting coming up get the owner of whoop is coming on we're gonna do another nearly early awards where we do our end of year awards with andrew wilkinson consent you know the three year tradition now and i think that's that's kind of the most popular episode of the year so so that one's coming up and then early next year we're having the return of deer deck oh going back dude rob been on a tear i i i i we i think jonathan booked him we got in a little bit early we early on his podcast journey i i take a lot of pride in that he's been on he was on impulsive verde and i watch all of them man he's inspiring the guy's awesome he's great he's a real deal alright cool i'm looking forward to that alright that's spot