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.

What's going on, guys? It is Sunday, July 20th, and that means it's time for Long Read Sunday.

Before we get into that, however, if you are enjoying The Breakdown, please go subscribe to it,

give it a rating, give it a review, or if you want to dive deeper into the conversation,

come join us on the Breakers Discord. You can find a link in the show notes or go to bit.ly slash

breakdown pod. All right, friends, today we have

something a little different for LRS. Regular listeners will know that Blockworks recently

combined their daily newsletter with this daily podcast, so it is all the big breakdown now,

and the newsletter is written by Byron Gilliam and often has some of the best written content

in crypto each week.

Today, I am turning things over to the 11 Labs version of myself to read not one, not two,

but three of Byron's pieces from this week. The first is called Crypto's Competitive Advantage,

Saturday ICOs. Byron writes if Pump. Fun is a success, the New York Stock Exchange may have to return to a six-day

workweek. In this century full of big tech successes, Europe's only big success is Spotify,

whose shares are listed on the New York Stock Exchange. I mentioned this because New York is not

in Europe. Spotify was founded in Sweden, incorporated in Luxembourg, and keeps its accounts in Euros.

At the time of its 2018 IPO, half of its workforce and more than half of its customers were in Europe.

But Spotify was one of 87 non-US companies that chose to list its shares primarily in the US that year.

It's easy to see why. No market makes it easier to sell shares than the

U.S. does, no matter where the company's from, and no market pays more for them. This is not a recent

development. The U.S. has been a magnet for international investment capital for at least 200 years,

...