fine if if if all you're doing is um kind of a joke that's why i think kind of like nfts are interesting because it's like it's like a joke and and so it's like it's like can't be illegal because it's just art and so the same people who i think so i have a friend who um created an nft project and he's like got a computer science degree really good at machine learning and like he decided to make nfts um out of college and it's like on the one hand that's cool sort of because it's like a protest art thing maybe but on the other hand it's also like is that the only thing that's not banned like if you can't sell shares in your in your futuristic new bank or hedge fund or something on the blockchain but you can sell pictures of uh cats or something hey guys hope you enjoyed the episode brought to you by our sponsors at blue blocks go to URL_TOKEN forward slash impact theory for NUMBER_TOKEN off your order or just use discount code impact theory at checkout all right enjoy the episode so we just did a big nft drop and dude the number of hours that i had to spend with attorneys trying to figure out like hey i want to make sure that i can keep supporting this thing that the sec is not going to come after me yeah of course the first words out of their mouth are like hey this is just a big question mark yeah some of the attorneys were like you shouldn't do it there's questions and so our job is to cya and so just you know don't and then other people you know were far more thoughtful in their guidance but it is so the thing that winds me up about the system now that i'm like really looking at it so the old system worked very well for me right i generated a tremendous amount of wealth so while i was doing that i it seemed like everything was working perfectly but then once i had wealth and i was like oh i want to do something with this and then i needed to look at the way the system is made for somebody who isn't an entrepreneur which is the vast majority of humanity then i started to just be dizzied and it started with accredited investor regulations and i was like wait a second i am the dumbest investor of all time but now because i have over a million dollars in liquid net worth i can invest like it was so yeah strange to me that the value of an idea or a company or whatever is captured long before an ipo and it's now captured by vcs or you know who all accredited investors and so i remember the day that i learned about it i forget who told me but i was like why aren't people rioting in the streets over this like this is crazy and that's crazy to me and so to your point about nfts how do we get how do we deal with that what's like the path forward well i mean it's it's so obviously bad that and and one thing that's kind of interesting i think is i i do think there's quite a lot of research coming out on like um marginalized groups let's say traditionally considered marginalized people are actually much more likely to be involved in cryptocurrency um and uh
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