I want to start out this week talking about NFTs or non-fungible tokens because I don't want my

views on this topic to be misconstrued. I did a blog post this week about digital collectibles

and how reminiscent a lot of the stuff we're seeing is of the beanie baby bubble from 1999

and I even threw in dutch tulip mania. I pull that all the stops just to make the point that

eventually what happens with these types of booms and collectibles is that opportunity to come

in and create too much product. And when the prices stop rising as quickly as they were

because everybody has more than enough stuff that they're able to buy, these types of booms tend

to fade away. That does not mean however that I am in any way shape or form bearish or dismissive

of the potential for NFT to be a very important technology and even reorganize some of the ways in

which services and goods and IP are bought and sold and even invested in because I am not an expert

number one in the technology itself. I'm reading about it all the time but I also think even if I

were an expert that doesn't mean that I would be able to definitively say where the technology would

be going and NFT and I guess the most popular example of this would be the Ethereum blockchain-based

NBA top shot phenomenon is very very young and very early and I want to share something that

a venture capitalist wrote on his blog 10 years ago January of 2010 that I think is every bit

as true today as it was when he wrote it a decade ago in fact it may have even become more vital

to understand. Now before I even get into this Tomat Chris Dixon and Chris is a partner at A16Z

which is everybody's favorite venture capitalist thought leadership firm that's Ben Horowitz,

Mark Andreessen, they have great podcasts, they're all over Clubhouse, chatting it up and they

have been early investors in some of the most important companies and technologies that exist

in our world today. So Chris Dixon is a partner there and you know he's been a personal investor

in companies he've heard of everything from Kickstarter to Stripe, Warby Parker, Pinterest,

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