Jeff Walton
👤 SpeakerAppearances Over Time
Podcast Appearances
It's incredibly transparent.
I've said multiple times, it's really simple when you boil it down.
And that's by design.
It's elegant.
It's very elegant.
It's very simple.
And the simplicity almost confuses people.
Yeah, absolutely.
I think one way to think about it is, and I've posed this to people as well.
It's like, I think of each one of these, each one of these instruments that is sold is performing labor, right?
So, but what is the labor?
The labor is digital labor.
It's risk-taking.
Okay, so I sell a share for $100 and I'm paying you $13 into perpetuity, right?
Well, so then at that point it would take, if I just took that $100 and paid you $13 back to you and I didn't park it anywhere else, I just held it in cash, I would give you all your money back by like year seven.
Okay, now what if you deployed that excess into an asset that's moving positively?
Right.
It's as simple as that.