Meme Coins & The Elon Markets Hypothesis

Patrick Boyle On Finance

Patrick Boyle

Investing, Business

4.9 • 320 Ratings

🗓️ 28 October 2021

⏱️ 7 minutes

🔗️ Recording | iTunes | RSS

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Summary

Send us a textIn this video we look at meme coins and learn about the Elon Markets Hypothesis. Patrick explains why he is all in on Shibu Inu.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Patreon Page: https://www.patreon.com/PatrickBoyleOnFinanceVisit our website: www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoylePat...

Transcript

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0:00.0	Hello and welcome. You are listening to Patrick Boyle on Finance, a podcast exploring ideas from quantitative finance, examining events occurring in markets right now and financial history to see what lessons can be taken away, including interviews with some of the most interesting people in the world of finance. To learn more about the podcast, visit onfinance.org.
0:27.0	When I started out in the world of finance in the late 1990s, the dot-com boom was in full swing,
0:33.9	and there were some hints that the world of finance had gotten a bit dumb.
0:38.3	This morning I opened the Financial Times to see this story.
0:42.4	A digital token named after Elon Musk's dog has launched a major advertising campaign on
0:49.1	London's public transport system, funded by attacks on new buyers.
0:54.6	These adverts are supposed to drum up enthusiasm around a flucky Enu coin.
1:00.4	The article goes on to say,
1:02.1	The branding campaign aims to legitimise the coin and increase the confidence of the average consumer.
1:10.4	The group's head of marketing, who identified himself by the alias Sabre said, you get a lot
1:16.2	of scam artists in this game.
1:19.9	Yeah, so that's what's going on in the world of finance right now.
1:24.1	A man using the alias Sabre, a name most likely stolen from a comic book villain, is
1:30.2	warning us against scam artists while pitching his Elon Musk dog-themed currency. He's been
1:37.3	quoted in the Financial Times, a serious newspaper. The article continues, Floky Enu can splash out on pricey advertising because,
1:48.6	like some other meme coins, it imposes a marketing fee of 4% on buyers. That fee is used for onboarding
1:57.4	influencers and to further develop and grow the flocky ecosystem.
2:03.7	I guess at least they're onboarding influencers.
2:06.6	If there's one thing that can be counted upon to legitimize a new form of money,
2:11.4	it's YouTubers and Instagrammers, because after all, this is finance in 2021.
2:16.5	The article goes on to discuss whether the FCA or the SEC should get involved.
2:23.7	I mean, maybe they should, but you have to imagine that there are some adults that work at these financial regulators,
	...

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