Adam Jackson

me and you could you know get a case of red bull and do it in a weekend yeah no tech tech is trivial now right it really is right like the value of a network is its people where are the where are the drivers where are the riders right that's the if we were to steal uber's database that's the value uber app we can knock that off in a weekend adam put your evil hat on for a second i just realized we're way over time but i've lost myself because i'm just intrigued um

Oh, no.

First of all, there is no equity.

It's only token, right?

They bought tokens.

They bought something that will convert into tokens called a SAFT.

So convertible note converts into equity, right?

Yeah.

Or a safe.

You've heard of the safe.

A simple agreement for future equity.

A SAFT is a simple agreement for future tokens.

Same thing.

It's except instead of you take out the equity and you put in the tokens.

And so there's no equity cap table.

There's only a token cap table.

And so and so that's what the founders have.

That's what the investors will have.

And that's what all the users have.

We're giving investors.