Ben McKenzie

I am looking at it at a different level or certainly a different angle, which is like it's not just about who wins and loses in this thing, although we should talk about how many people win and how many people lose.

So economically, if these things are more just gambling devices than actual investments and things that exist in the real world, what are they?

They're zero-sum games, which is like poker, right?

Like let's say we all sit at a table in Vegas playing poker.

You might win a hand.

You might win a hand.

I might win a hand.

But if you win, it's coming out of our pockets.

If you win, it's coming.

You know, there's no value creation.

We're playing a game where maybe it's entertainment.

That's great.

We get some free drinks.

Meanwhile, as we play the game, the house is taking the rake.

The house takes a tiny bit of money to allow the game to go so they can pay the dealer.

And so can you win in Vegas?

Of course.

But if you play long enough in Vegas, on average, you're losing.

Yes.

Because how else do they keep the lights on the casino, right?