ICOs, oof, not great, like NFT mince, oof, not great, but we have to remember that like

that part of the market cycle for financial assets exists before and after crypto. And the reason

why we don't see it in the traditional world is because by the time a traditional equity

IPO's on the stock market, all of that speculation by early VCs, the first round of financing,

the second round of financing, that's not available to the general public. And so this is the

naked truth of markets. And now it's public. And the public is reacting to it.

Is Friend.tech good or bad? That's the conversation David and I want to have today. This is a special

episode. I think an opinion episode getting into some controversy here. Friend.tech,

this is an app that has dominated the crypto landscape for the last two weeks, kind of

exploded on the scene. And now it's breaking out into mainstream audiences. These are non-crypto

audiences. So should we pat ourselves on the back? Is this a moment for victory lap and

congratulations? Or do we need to take a moment to more carefully reflect on the consequences

of this new financialized social application? Some questions we're asking today. Is Friend.tech

good or bad? Our financialization and Ponzi games, all that crypto can really give to the world,

is any of this even a correct conclusion? Or maybe we're just moralizing this whole crypto thing

too much. These are the conversations I want to have with you today, David. What are your thoughts

going to this episode? Why are we even doing it? I think on the surface level, friends.tech,

Friend.tech is a fun fun game for crypto influencers and their followers all kind of played together.

And I think simultaneously while that shenanigans is happening, there's another conversation

brewing as to like what are the deeper consequences of an application like this if it does scale to

the whole mainstream world? Is this the crypto dream? Is this what it means to be a crypto person?

I don't think a lot of people are here for that mission or that future. And so I think we also

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