Nick Navis

And keep in mind, meme coin trading is a zero-sum game. Every dollar someone makes on a meme coin mathematically has to come at the expense of someone else buying it, which means that this tiny minority of winners, that 3% of traders, is making their fortunes off the vast majority of meme coin investors.

In your mind, is this all just a giant casino? Like, is this just like an ancient practice of sometimes irrational gambling, like just updated and put onto the blockchain?

In your mind, is this all just a giant casino? Like, is this just like an ancient practice of sometimes irrational gambling, like just updated and put onto the blockchain?

In your mind, is this all just a giant casino? Like, is this just like an ancient practice of sometimes irrational gambling, like just updated and put onto the blockchain?

In a way, a lot of what's going on here feels like a new twist on the classic pump and dump scheme.

In a way, a lot of what's going on here feels like a new twist on the classic pump and dump scheme.

In a way, a lot of what's going on here feels like a new twist on the classic pump and dump scheme.

Has anyone made a greater fool coin?

Has anyone made a greater fool coin?

Has anyone made a greater fool coin?

And in fact, when we checked the pump.fun registry, there turned out to be no less than 12 competing greater fool meme coins. Half of them with the ticker sign fool.

And in fact, when we checked the pump.fun registry, there turned out to be no less than 12 competing greater fool meme coins. Half of them with the ticker sign fool.

And in fact, when we checked the pump.fun registry, there turned out to be no less than 12 competing greater fool meme coins. Half of them with the ticker sign fool.

Just a quick warning, this episode includes a kid cursing.

Just a quick warning, this episode includes a kid cursing.

Just a quick warning, this episode includes a kid cursing.

A few months ago, I came across this livestream video clip that had started going viral online that I think captures something essential about the absurdity of the current financial moment we're living through. Here's the backstory. On the night of November 19th, 2024, this baby-faced kid, he looks around 13 years old, used a new online platform to launch a brand new cryptocurrency into the world.

A few months ago, I came across this livestream video clip that had started going viral online that I think captures something essential about the absurdity of the current financial moment we're living through. Here's the backstory. On the night of November 19th, 2024, this baby-faced kid, he looks around 13 years old, used a new online platform to launch a brand new cryptocurrency into the world.

A few months ago, I came across this livestream video clip that had started going viral online that I think captures something essential about the absurdity of the current financial moment we're living through. Here's the backstory. On the night of November 19th, 2024, this baby-faced kid, he looks around 13 years old, used a new online platform to launch a brand new cryptocurrency into the world.

We're not using his name because he did all this anonymously. The cryptocurrency he created is what's known as a meme coin, which is a kind of joke currency, something that doesn't hold any inherent value besides what other people on the internet are willing to pay for it. The kid named his coin Gen Z Quant. He spent a few hundred dollars to buy up about 5% of the total supply of his new coin.