Anthony Pompliano

I love ASCOs.

I think that's great.

However, yes, people lost a lot of money because the maturity of the projects was not there.

But I think we're at a different stance.

I think if people are better at assessing whether or not a team is able to ship something, whether that something is able to achieve product market fit, fuck the VC model.

Let's go back to funding from the crowd.

And I think we're going to get a better alignment of incentives, better capital formation, and better post-TGE token performance.

Yeah, and I guess when you have a sit in the game, then you participate in particular ways, which is why governments always support housing.

Because if you have a physical house in a particular nation state, then you're going to essentially be much more conservative than you otherwise would have been.

I think all those products will fail and they're not gonna fail because of a poor implementation.

They'll fail because of clearing.

I think this is the thing that most people don't understand why this product works.

When you invest in a PIRP and a crypto platform, you have a limited loss.

You put in your initial margin or however much it is, 10%, 1%, what have you.

That's all you can lose.

The crypto exchange isn't coming after your entire financial net worth because we don't have the heft of the government, the legal system, and the banking system there to make good on bankrupt debts.

We only can take what you have, what you come to the exchange with.

And that allows us to have the high leverage.

And to have the high leverage, we have all these socialized loss mechanisms.

Now, I know that Wall Street hates this because they don't want to invest in a product where you're making money and all of a sudden, you're not.