BREAKDOWN: The End of the Super Bubble vs. WAGMI
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 7 November 2021
⏱️ 13 minutes
🧾️ Download transcript
Summary
A reading of two threads that paint a very different picture of the world.
This episode is sponsored by NYDIG.
On this week’s ”Long Reads Sunday,” NLW looks at two very different takes on the economy in threads by Raoul Pal and Alex Good.
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NYDIG, the institutional-grade platform for bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.
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“The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell, research by Scott Hill and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Dark Crazed Cap” by Isaac Joel. Image credit: VectorInspiration/DigitalVision Vectors/Getty Images, modified by CoinDesk.
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Transcript
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| 0:00.0 | Welcome back to The Breakdown with me, NLW. |
| 0:09.0 | It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world. |
| 0:16.2 | The breakdown is sponsored by Nidig and produced and distributed by CoinDes. |
| 0:22.6 | What's going on, guys? It is Sunday, November 7th, and that means it's time for Long Reads Sunday. |
| 0:29.7 | Today we have a bit of a fun one. We are going to discuss dueling threads. |
| 0:36.8 | And I think in many ways, these threads represent |
| 0:39.6 | poles of understanding and interpretation of what's going on in the world right now. |
| 0:45.4 | They represent different takes on how the macro relates to what's going on inside crypto. |
| 0:51.4 | They address things that seem bubbly but might not be or they might be even more |
| 0:56.0 | than we think they are. I think this conversation is fascinating and I think it's important. |
| 1:01.8 | I also think, as you'll be able to tell from these reads, that there are really different ways to |
| 1:06.6 | look at it. So, without any further ado, let's read the first of these threads, which comes from |
| 1:12.5 | none other than Raoul Paul, the founder and CEO of Real Vision. Rale writes, |
| 1:17.8 | Not on holiday yet, so I'll allow myself one more thread. The markets are crazy. NFTs are just |
| 1:25.3 | JPEGs. Dog coins, cat coins, Tesla, GameStop. Everyone is going to |
| 1:31.1 | get burned. Don't they realize about discounted cash flows? These people are ruining everything. Green |
| 1:36.8 | energy? Crypto is a bubble. Tech is a bubble. VC is a bubble. Biotek is a bubble. Passive |
| 1:43.3 | investing is a bubble. Web 3.0 is a bubble. Green energy is a bubble. The |
| 1:48.0 | metaverse is insanity. Can't they see? They are all wrong. No, they are a new generation of investors. |
| 1:56.5 | 86 million millennials got financialized in the U.S. last year. They hit their prime investing |
| 2:01.5 | ages of their 30s. They have debts, no savings, no hope from the grind. They are poorer than |
| 2:07.0 | any 30-year-old in the last 70 years. They were f***ed. Unlike their parents in their 30s, |
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