So we know a company's worth, this value with stock value, is much greater than the underlying

assets of the property or the equipment that they have. If you add all that up, there's

another layer, and that's the brand equity, that intangible value that a company has. And for

me, memes, I like 100% brand equity.

MAME equity is brand equity.

This episode is sponsored by SAFE, the account abstraction leader on Ethereum. Avery, we're back. It was so great seeing you in Austin last week for consensus. I want to talk about that.

I think I saw you also just got back from Patau and you're going to be heading to Cannes in about a week and a half. So so much things happening on the event side that I thought it would be good for us to break down

all of that before we play one of our sessions from consensus that I've been thinking about a lot.

So first of all, you were there for a couple of days.

Tell us your impressions of consensus.

Sam, congrats to you when the whole coin dust team for absolutely crushing consensus. I thought it was so well done,

both from a production standpoint and a 10D perspective and of course the thoughtful programming

that Sam Ewen is known for. Just across the board, I really enjoyed it. I pleasantly surprised.

This is my, I think my third or fourth

consensus. And as happens with crypto, excitement like waxes and wanes. And this was a time when there

was so much excitement, so much positivity, so many people sort of building the space, all coalescing in

Austin to exchange ideas, to network, to talk about the future of where this industry and this

space is heading. So I thought it was absolutely fantastic. And the weather cooperated as well,

which was nice. We did have a couple of like 5 a.m. rainstorms. I don't know if that woke you up,

but I thought they were very poetic and picturesque. And I agree. I think this year we had a ton of

optimism, energy. I think that we had some amazing conversations. I think this year we had a ton of optimism, energy. I think that we had so amazing

conversations. I think one of the things that was one of the key themes, I'm actually like writing my

...