02:14:02 · John Coogan, Micky Malka, Jordi Hays
[02:14:02] S1: I love it. [02:14:03] S8: It it sounds like I I we we told the Stripe that we're we're shareholders. We love them. We're good friends with Patrick and John and the whole team and Will. We told them that we felt that we were we were we were their core of their team because the two investors we need in stable going infrastructure, they took out of our plates in less than a year. [02:14:19] S1: Yeah. Yeah. [02:14:19] S0: Wild. But but yeah. So so you you made some infrastructure bets. Are there are there consumer bets that you see going forward? I I know there's a bunch of different potential use cases but again it's so easy for an existing company to add stable coins and they already have the distribution and the customer network to quickly, you know, service?
02:14:19 · Jordi Hays, Micky Malka
[02:14:19] S0: Wild. But but yeah. So so you you made some infrastructure bets. Are there are there consumer bets that you see going forward? I I know there's a bunch of different potential use cases but again it's so easy for an existing company to add stable coins and they already have the distribution and the customer network to quickly, you know, service? [02:14:44] S8: Yeah. So it's a great question, Jordi. We we've been trying to find we've been looking worldwide for consumer applications that start with stablecoins first as a user experience. We haven't found one that will say, this is the way it's gonna work to scale globally at a scale that matters. So that's why we have been backing much more the infrastructure providers of all these schemes because they feel like they have a lot more growth potential than than the consumer side. But I think we're just starting. I think now we're starting to see the beginning of agentic experiences with crypto rails and and AI Yep. With through agents. And I think in that intersection, we're gonna find native stablecoin retail brands that are gonna provide services that you don't expect. So we've been we've been investing a lot there in learning. We've been testing ourselves a lot there. We have our own thesis on how it's gonna work, so we're actually building some of them and learning. But we expect to see entrepreneurs worldwide working around them in the very near future. My my guess is in the next year. We will be surprised to find a few already.
02:15:54 · Jordi Hays
[02:15:54] S0: Well, when we when you come back on and and hopefully, you'll come back on many more times between now and then. But in I'm I'm assuming in 02/1930, we'll have the same conversation again. You got every single new stable coin pure play that mattered. What about on the issuer side? I feel like the big now that stable coins have clear regulation, it seems like we'll see a lot more people start to issue them. Is that needed? Do you see use cases or are the USTCs and the Tethers, like, providing kind of enough value right now?
02:16:28 · Micky Malka
[02:16:28] S8: I think people underestimate how important the Tether brand is worldwide. I think when you when you are in Argentina or in Venezuela or you're in Indonesia, they don't even say USDT. They just call it Tether. Mhmm. Right? And I think Tether has a chance to be a really global brand that most people were well, under imagine the scale of it. Circle has a great reputation institutional side, but we're super early. I mean, think about it. We're only $250,000,000,000 into stablecoins. Mhmm. We should be in $2,000,000,000,000 in the next year or a year and a half or two. And if we're not there, something's off. Mhmm. So for that, we'll probably need, like, five, seven, 10 more names. Now you're not gonna care as a user, to be honest. You may have a preference. I remember growing up, my parents and us to to save money from inflation in Venezuela. Every Friday, we walked to the bank branch, and we bought travel checks. And and it was a way a way of saving, which is literally the same as stablecoins today. And those travel checks in the era, you could buy American Express travel checks. You can buy Thomas Cook, which were Mastercard travel checks. And there was another third brand I forget. I didn't care which one we got. All I care was getting the dollars and being able to save. So I think but over time, I remember my family's Q2 American Express Travel Checks. For whatever reason, it had, like, a better recognition brand. So I think we're still in the early days of that, and that's going to happen. And I think we're going to see five to 10, and we're going see the incumbents issuing their own token and stablecoins. And now the bridges of the world are going to be super important because they're going to be the bridge to connect all of them no matter what what what you're doing. And it's going to be very simple to solve. So my guess is five brands in the next five years.
02:18:22 · Jordi Hays, John Coogan, Micky Malka, Casey Neistat
[02:18:22] S0: Wow. Great. Great. Very exciting. This was awesome. [02:18:25] S1: Yeah. Thanks so much. [02:18:26] S0: You're a legend. [02:18:27] S1: Hoping on. [02:18:27] S0: Come back on again soon. [02:18:28] S8: You guys are doing amazing job. We'll be following your show, and congratulations. It's really fun, and you bring super fresh content and news and people to the show. [02:18:38] S1: Thank you so much. [02:18:39] S0: Thank you, Nikki. [02:18:40] S8: Talk to you [02:18:40] S0: again soon. Looking forward to it. [02:18:41] S1: Bye. Bye. Up next, have Casey Neistat. Recently [02:18:46] S0: The YouTuber. The creator. [02:18:48] S1: He's a broad retro now. Working on the chromatic, which we've been playing in the studio, working on the m 64. How are doing, Casey? [02:18:57] S0: There he is. [02:18:59] S6: How Alan, are good to see you. [02:19:00] S1: Welcome to the stream. What's new in your world? How did the are those the nothing ear ones? Give us a little review. [02:19:08] S6: Oh, yeah. These are fantastic. I actually had to take them off because the noise canceling on these is, it's it's like too good and I'm at home right now and my kids were screaming two seconds ago. Yeah. But, yeah, these things are fantastic. [02:19:21] S1: Yeah. We had Carl Pei on the show a week ago and he put them down and I was like I was too afraid to ask like, oh, are those for me? Like, are you gonna leave those for me? I kinda want those. I need a new pair. I'll to pick up
02:19:21 · John Coogan, Casey Neistat, Jordi Hays
[02:19:21] S1: Yeah. We had Carl Pei on the show a week ago and he put them down and I was like I was too afraid to ask like, oh, are those for me? Like, are you gonna leave those for me? I kinda want those. I need a new pair. I'll to pick up [02:19:32] S6: You know It's I'm not enough of an audiophile to know what if something sounds good or not. Like, it's either good or it's not good. Yep. But physical switches, like buttons you can touch Yeah. I really like. And the like the Apple I don't know what they're called. What are they? AirPod AirPod Maxes. [02:19:50] S1: Yeah. AirPod Maxes. [02:19:52] S6: There's no on off switch. [02:19:53] S1: Yeah. Like, I can't digital crown. [02:19:56] S6: I needed I needed an on off switch and you have that. [02:19:59] S1: I like I like your textiles, Keith. Yeah. Yeah. You are you a big teenage engineering guy? It feels like kind of like that that that they're almost coining like a trend that's like becoming more mainstream now. [02:20:09] S6: Teenage engineering is the only company whose products I buy religiously even though I have no idea how to use any of them. [02:20:17] S1: The same thing happened to me. I bought the [02:20:18] S0: little kids. I was [02:20:19] S1: like, I'm a musician now. Couldn't figure out how to make a song. [02:20:22] S6: I gotta use it. [02:20:23] S1: I love it. It's amazing. [02:20:24] S0: Looks good on a desk. [02:20:25] S1: Beautiful? It's so beautiful. [02:20:26] S6: Someone that cares that much about the craft. Totally. I wanna be part of that.