Anthony Pompliano

or is something else going on that, you know, could we actually see multiple compression, but the companies continue to grow, they actually make more money in the future, it's just the multiples have come down.

And so you don't need to have impaired financials as much as just people treat it as less valuable in the future.

Why do you think that there's not gonna be public companies?

That's interesting.

on-chain fundraising, all this stuff.

We've seen now multiple crypto companies, whether they're public or private, acquire various type of cap table management, fundraising on-chain, et cetera type of businesses.

We also see tokenization coming fairly quickly.

Figure Technologies, a company I've been involved for a while now, they just, I think they're the first company

to take shares and say, we're not going to take the public shares, put them in like an SPV and then tokenize the SPV.

They instead said, if you have a share that is on the, I think it's New York Stock Exchange or NASDAQ, and we are going to create native digital shares and it's a one for one.

So for every native digital share we create, we're taking one out of circulation on the traditional stock exchange.

Yep.

is all of that like headed towards this theory that you know there's not gonna be public companies there may be like public liquidity but it looks different than the companies of today yeah it's a great question and and we haven't talked about this so um

What you're describing here is, and for context for those that maybe weren't kind of in this industry paying attention, almost a decade ago, in 2017,

I used to say over and over again, publicly, tokenize the world, tokenize the world, tokenize the world.

And my entire theory was we had an analog world.

So physical stock certificates, physical bonds, physical, you know, deeds to your home, et cetera.

We transitioned at some point in the late 80s into the early 2000s to an electronic QSIP system.

And so today when you buy an Apple stock, you are really just moving electronic QSIP around in a database.

There is no physical stock certificate that gets sent to your house.