Welcome back to The Breakdown with me, NLW.

It's a daily podcast on Macro, Bitcoin, and the Big Picture Power Shifts remaking our world.

What's going on, guys? It is Sunday December 1st. Happy December. And that means it's time for Long

Read Sunday. Before we get into that, however, if you are enjoying the breakdown, please go subscribe

to it, give it a rating, give it a review, or if you want to dive deeper into the conversation,

come join us on the Breakers Discord. You can find a link in the show notes or go to bit.ly

slash breakdown pod. All right, friends, happy December.

Hope you had a great Thanksgiving.

We're back with our first LRS of the month, and we are just going to try to make

fetch happen, by which I mean discuss meme coins.

Memcoins get so little time on the actual show that I don't mind using LRS as a way to

explore it. The context that

interests me about meme coins is the extent to which people believe that they really can be

this cycle's thing that draws in new retail audiences. In other words, the natural positioning

is that meme coins are this cycle's ICOs or this cycle's NFTs. The question, though, is how well that analogy

holds up, what things they have in common, what things they don't. The piece that we're reading

today is called Why Memcoins Matter, and of course I am handing it over to AI me to read this,

and it's by Evo Enchev. Evo is a partner at UB Capital, and let's listen to what he has to say.

You might think they're stupid, but meme coins are set to revolutionize everything from civic engagement to the development of AGI, argues Ivo and Chev.

Memcoins are the most divisive topic in crypto. By meme coins, I mean tokens that represent an idea and fluctuate in price based on the attention that idea

receives. The best meme investors tend to be young people who are very online and attuned to

internet culture. Meme coins are commonly juxtaposed with tokens that possess actual utility

...