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.

The breakdown is sponsored by Nidig and produced and distributed by CoinDes.

What's going on, guys? It is Sunday, September 26th, and that means it's time for Long

Reads Sunday. And today, I wanted to do something a little bit different. I've been enjoying

interspersing the traditional essays with threads from Twitter, getting back to Long

Read Sunday's roots when it was a thread of Twitter threads. And today I've picked out four

threads very different, but all have a similar theme to me of, it's the dawn of something. It's the dawn of something new, something interesting,

something different, a different phenomenon that good or bad, right or wrong, we have to deal with

on its own terms. That is the meta theme. And to start, I'm going to grab a thread from

Chris Sidial from a couple weeks ago

that's all about the shift in millennial mindset. He writes,

About a year ago, I went on Corey Hofstein's Flirting with Models podcast. Outside of my thesis,

one important change in the microstructure that I listed was the shift in speculative

sentiment due to a change in the demographics of the

buying power. Simply put, this means that millennials and under are more inclined to make speculative

investment decisions. This is aided by the confirmation that they were correct because asset

prices continue to rise. Like a gambler on a roulette table, more winnings means more gambling.

The important thing to note

is how this translates over to asset prices. This means we should expect asset price changes

to demonstrate wider variance. This means price changes can move more rapidly and more obscure

than we are used to seeing. We are seeing this thesis confirmed in the NFT space, crypto, and

...