We are selling erection pills and we are selling weight loss, but we are not selling crypto. So there's a lot of brands that you'll see that are just, they're there because this is the largest audience that exists in the TV industry. And folks think that you can get a big bang for your buck when it comes to advertising in the Super Bowl.

All right, Sam here from Gen C.

It is time for the Super Bowl.

One thing that has struck me over the last few years is most of the crypto companies have stayed out of marketing in the Super Bowl.

We will talk in a second about 2022, which was the crypto ball.

But in general, I think it's interesting that all of these companies that have so much money

that are really looking for wide mass retail audiences have been avoiding the biggest

advertising platform that exists.

All right. I want to take a look at this chart. What this is is the cost of a 30 second ad spot

in the Super Bowl from inception to today. You'll see this has gone up almost as much as Bitcoin has.

One of the things to think about is there are two moments here where we saw these kind of

big jumps, right?

So there was the 1995, 1996 to 2000.

We saw a big leap there in the cost of a 30-second spot, primarily due to this being the

dot-com boom era.

So when the technology companies came in, they spent a lot of money

on brand awareness. And one of the places they spent that money was the Super Bowl. You'll see also

2010 to like 2012-13, another big jump. Why? Because that's when all the social media companies

were coming in. So technology has often fueled these big, expansive opportunities for rates to go up in the

Super Bowl. And yet, other than one blip, there really hasn't been a big prolonged crypto effort

to appear in the Super Bowl. Right now, there's a ton of AI, there's a lot of soft drink,

there's a lot of chips, there's a lot of travel, there's all the things you would expect,

...