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One loyalty has changed. And I talk a lot about how there's purchased loyalty and there's earned loyalty.

Points programs are purchased loyalty. You're basically creating a discount program. And are you going

to the car wash on the corner because it's really the best or because one more punch and you're

going to get a free car wash, right?

That's purchased loyalty.

And that's what points programs are.

And I think as we came through the pandemic and then we started hitting inflation,

those programs really were shook because we started having the devaluation of points.

All right, Gen C, season three.

We are really focusing this season on the brands that are building in primarily crypto.

We're still doing a little bit in emerging technology.

And actually, our next guest, we talk a lot about sort of the crypto space and the adjacencies.

...