Am telling you from the bottom of my heart. Everyone the next biggest thing since since the internet itself and social media. Itself is now upon us. It is called consumer blockchain when i really analyze what has allowed me the great flattery of having a speaking career and having successful businesses and being a happy person professionally.

I do a lot of things well. I do a lot of things not well we're all that way. But at the end of the day. There's always been one thing that i've done exceptionally well and i define it in my mind as day trading attention the one thing that i know whether you're an entrepreneur.

Whether you're an executive whether you work for a fortune. 100. Or whether you work for a fortune 1000. Or 10 000.

Or 100. 000. The only common denominator that i can talk up to in a room of this size and bring value to each and every one of you is predicated on attention. The currency that we are all battling for to achieve anything we want including knowing that many of you have your professional wants and needs.

But there are things that you care about in your life outside of your work. Whether it's a family business that you're not involved in whether that's a non profit. Whether that's social issues. Whether that's raising a couple of dollars for your kids school.

The one thing. That is the common thread to this room is before you can tell someone what you want or what you'd like them to do you need their attention and attention has been a huge passion of mine. My whole life. I've been in the advertising industry for the last 13 years and vaynermedia has disrupted that industry.

Quite a bit and it was because of my focus of attention. Many people here work in big businesses. Whether it be to be in b2c. It has been my hypothesis for the last 15 years that the way they've tried to build their brands and create sales has made assumptions on consumption from television commercials from digital assumptions.

On reports assumptions on reach they buy and spend so much money to get reach to get awareness. But they accept reports and how the industry has traded on it yet. It's not true. It's not actual consumption.

It's potential reach this thesis that i see from the world's biggest companies also plays out for the individual influencers and creators and entrepreneurs in this room that right now. I'll give you a great example in romania. So many of you continue to be obsessed with growing on instagram while tiktok is underused in the country. But the attention is there at enough scale that the content you provide would outsize the return of followers and awareness that you're looking for we are incredibly good as human beings at respecting yesterday's attention and we're terrible at respecting today's attention because we convince ourselves that it's tomorrow's attention.

This is a framework that i've been trading under pretty much my whole life and definitely the last 25 years of my career before i get into the state of the union of. Web. 2 the state of the union of web 25. Which is really the big opportunity while we go to web 3.

I want to create context about web. One there are many people in this room that would never admit to this. But only 25 years ago. They disregarded the internet itself and thought the internet was a fact there are many people in this room.

Many people in this room. Who disregarded every technology over the last 25 years. They didn't want to put their credit card into a computer because they were scared their credit card. Number would be stolen to buy something they did not want to give up their there's how many people in this audience raise your hands are over the age of 45 raise your hand.

Don't be scared. I'm over 45. Too higher higher the amount of people who just raised their hands. That did not want to give up a pager to get a smartphone or my favorite.

One for everybody who raised their hands kids do you know how many people just raised their hands that swore they would never give up their blackberry for an iphone. Because they didn't want to give up the buttons. Watch this raise your hand. If you're one of those people.

How many of those people now have an iphone that what just happened there is what i do for a living. What do you say you're not gonna do that i know you're going to do and how do i build infrastructure. There so that when you show up i have more market share this happens within genres. So many people in this audience thought that facebook and twitter was stupid.

The first time they heard it when facebook first hit the scene. It was only for kids today only 15 years later it's only for grandparents. This is an important way to start the conversation with all of you because of where i'm about to go we as human beings love know and are scared of yes. It's what we do we get comfortable.

And we are unable to see the opportunity that is in front of us because of that fear of trying something else because of that lack of interest to put in the extra work to do the homework to understand the new thing almost everybody in this room that struggles with nfts is only because they haven't done the 25 hours of homework to understand that it's the blockchain and that's different than the internet and you're bringing your internet brain to the blockchain. Which is why you're confused. The reality of the world we live. In today is technology is happening faster and the opportunities happen faster and the vulnerabilities happen faster and more extreme you in a corporation can hold on you can hold on as an executive.

How many people here work at a company raise your hands raise hide please. Most you can hold on you know why it's not your business at the end of the day. I have empathy for that you're a human being you can't care about somebody else's business. More than you care about your life.

But for the people that have a business that they own it is their life their business is their fourth child their third child their child. It is their family. It is their livelihood. This is why entrepreneurs often will move faster not because they're smarter really not because they're smarter.

But because they have no choice they have no choice when you miss market inside your company you can resign and go work at a different company even a competitor of the company you just work for happens. All the time that used to make a lot more sense in the 50s 60s 70s and 80s because everything moved slower but what i'm passionate about is flying into this great country and looking across this many people and just getting one one one of you to recognize that you're putting your head in the sand to recognize that you're living and know to recognize that you have a lot more of your career left one of the biggest arguments. I hear from so many people when i talk about this stuff is like gary. I've been doing this for 25 years.

I don't have you know i'm just not going to do this much longer. I don't even have the energy for this anymore. And i always ask them like how much longer are you going to do this and often they say 15 years 12 years 20 years. That's a long time.

That's a long time. And so i come here because 2021. 2022 and now going into 2023 has absolutely started the process of us living in a web 3 world this does not mean like some of my friends believe that we're going to live in the metaverse next year. I don't see it i don't see people wearing headsets and spending seven hours a day in the metaverse.

I think that conversation is premature but on the horizon. What i do know though is that every hour on the hour more people become comfortable with the concept of owning a custodial wallet have purchased a cryptocurrency have tasted it have bought an nft the problem with web3 is there's too much greed in it because there's too much money being thrown around web. One and web. Two was all happening behind the scenes web.

Three everybody's trading and people are getting fomo. When people are making lots of money and people are making fun of people when it crashes like it has the last month. All of that is just noise that means nothing in the macro. The technology doesn't give a of the price of bitcoin and ethereum.

The technology doesn't care if v. Friends or board. Ape or world of women is doing well or not well. The technology is the biggest mistake that we make from america to romania to china and everywhere in between is we actually think technology cares about our opinion the amount right.

I'm gonna go to the guy. Who clapped because i'm very happy with him right like as if the blockchain caters. What we think about cryptocurrency like our opinion of cryptocurrency is going to dictate the world's technology. More importantly.

It already happened we're not talk. I'm not standing up here talking about web 4. It already happened it already happened i watched this movie play out for the last 20 years with the internet. Again nobody would like to admit what they thought about the internet about email about the iphone about facebook and twitter and snapchat and tick tock.

Nobody here wants to make fun of themselves for what they actually thought yet so many of you in this room are repeating the same mistake again now when i say repeating the same mistake. I don't think anybody should dictate somebody else's ambition. I think that's ludicrous. We all have different levels of success.

And what we want to happen to me i'm just talking about what's actually happening how one in this room wants to decide what they do about it is on them. Some people in this room are actually retiring as a matter of fact who here in this room is retiring in the next five years and i don't mean that you're gonna build a huge company and retire and buy an island. I mean you're old and you're almost done raise your hands put on the lights. I want to see it i was really hoping you were going to raise your hands too hold on raise your hands.

I want to see who's retiring in the next five years one two all right let's clap it up for the four old people so four people out of seven thousand don't need to pay attention to the next 45 minutes. Everybody else here better wake the up and let me tell you what i mean by wake. The up it comes in two ways for some of you wake the up means actually going on the offense and making a career change putting in work to educate yourself for 30 40 hours on all these new things uh try something on the side creatively. While you do your thing and pay your bills in case.

Maybe it clicks. And then you can maybe do that for some of you wake the up means defense. Meaning you need to be very. Careful.

If you are a cliche 38 to 54 year old executive right now and you are not paying attention to the current state of web. 2 web 2 5. Web. 3.

Emergence you are going to lose in the next. 10 to 15 years your opportunity to grow within the organization. What is going to happen because it's been happening for the last 25 years is one of your fellow workers. Almost always who's reporting to you or reporting to somebody who's reporting to you will outmaneuver you in their efforts to understand what the consumer is doing today and for the next 10 years and when economic stress happens.

The organization will go with the more contemporary marketer or decision maker to get the next step at this is happening right now. I say this in this room. Because the last three weeks of my life have been talking to fortune 5000 board members and ceos because the recession is coming and they know that their marketers are not on it. And they are asking me who in the organization that i'm servicing that's not the cmo should get the next job and none of the number twos are on my recommendation list why because of what i'm saying.

Now. What i've been confused about for my whole career is why people get away from the trenches. Why they become so about meetings and boardrooms and lose touch with what actual human beings do why they begin to believe reports that are fake over their own common sense. Intuition.

And what they believe as a human being this is foreign for the entrepreneurs in the room. Because you have no choice you have to pay attention to what the customer's doing. That's how you eat it is incredibly real. I'm watching some of the faces in front of me for the people that are in the trenches in corporate environments.

I know why they do it it's the currency of their organization. It's how bonuses get done. It's how everyone is scored. These reports are broken.

We must go into the next decade. Becoming more consumer centric and more common sense oriented. What i see that is very clear to me because i lived through 1996 to 1999 and i lived through 2005 to 2009 is the next transition to how human beings are going to interact. I'm going to start with web 2 before i get into blockchain.

I want to talk about social media. Because it will affect everybody in this room tomorrow right now we live in a world where social media is the infrastructure to communication of course. Mainstream media has a place of course print has a place. But let there be no confusion.

The scaled opinion shaping of our society. Is overwhelmingly happening across seven to twelve platforms where other human beings and organizations are producing content. There are incredible opportunities for organizations and individuals in this room in this world. However.

Most people here today look at these channels as distribution channels. And so they make a single piece of content and they want to put it everywhere whichever ones they're in these platforms are very specific rooms. The keynote. I will give here for example me pushing everyone here to finally open up a tick.

Tock account. If you're in romania is specific to romania in australia. Everyone's already done it it won't come out of my mouth. I know the mix of executives versus entrepreneurs in this room thus tailoring my message for this hour based on the room.

If you do not produce content advertising information creative. That is contextual to the distribution and most importantly contextual and relevant to the person. That's actually consuming it you have no shot of succeeding. We must all collectively here take one humongous key point out today.

Which is i believe today not tomorrow. Not the next day today the variable of your business growth from a consumer standpoint. Including b to b. How many people here are in b to b raise your hands including b to b.

I am. I am. Flabbergasted by how many people continue to not use linkedin to produce three four five pieces of creative content marketing. A day a day.

I watch unlimited startup. Sas companies to fortune 500 companies selling 20 million 50 million dollar rfp. Scopes win. It on linkedin through a single piece of content yet the b2b marketers in this room would rather spend a million dollars to build out a booth at a convention or by print ads or more importantly as all the b2b people that just raised their hands.

They know really deep down their company is a sales organization not a marketing organization yet. We are sitting in a time. Right. Now where linkedin is the close second to tick tock.

When it comes to getting more organic reach for your post. Than you deserve based on the way. The algorithm and supply and demand of content and attention is playing out all this world is built on is how many people's attention is on it how many people are consuming. It and how many ads are coming into it three things how many people are producing content every day.

How many people are over in that world. Consuming content. And only one other variable how much money and ads are coming into it today if you spend no money on ads. The places where there's the most attention and not as enough content to fill it thus rendering your ability to reach a lot more people is tick tock and linkedin.

One is very b to c. And one is very b to b this is what i do daily as a matter of fact here's a curveball for anybody. Here who's very into this world because of the ios 145. Update.

And trackability that apple updated that really hurt facebook many of the dtc and trackable app advertisers on facebook have walked away ironically on the flip side still many 35 year older and older are not there 14 times a day. But are still there multiple or at least one time a week. Consuming content. My organization and the organizations.

I'm on the board of or an investor of have gone from not even talking about facebook as an organic place on your fan page or running. Ads for 24. To 36 months. Because of the explosion of instagram.

Linkedin and tick tock to spending. The last six to 12 weeks being obsessed on how good of a deal facebook has become again day trading attention day trading attention means some of the things of the past may be strong again as a matter of fact my overall thesis is not even digital. I would be thrilled to buy more television ads. More newspaper ads and more radio ads.

If they just slash the prices by 90. My friends everything that's going on in the world everything that is going on in the world is based on. Communication i was born in the former soviet. Union i immigrated to the us.

When i was three years old because i had those soviet roots and because i liked history. I did a lot of homework as a kid on history last 50 60 years and there was something when i was in third or fourth grade. That really caught my attention. Which was what would happen when a country would have a coup a coup d'etat not your normal fourth grade homework.

But it always fascinated me and i never knew why and i always thought it was this very weird thing that i was curious about and i read about a lot of countries overthrowing their governments. But it wasn't because i was so fascinated about that part the thing that kept me interested all those years in my youth finally made sense to me in my 30s. Which was i was always fascinated why the army would go to the newspaper station and the television station at the same time that they would go to the king or dictator's palace to overthrow that person somehow as a child. I was intuitive that communication was the punchline of all of this i don't have to explain to anybody in this room.

We have absolutely been all very educated in the last 10 years as the world has shifted from america to india to russia and everywhere in between the world has absolutely recognized the argument. I was trying to make in 2005 in 2005 678 when i would go to conferences like this and we would go to dinner. My argument with the people from the outside of a small group that believed in social media was very simple. Which was everybody in that table was underestimating the power of the platform.

I was ridiculed laughed at it was silly people did not believe that twitter and facebook could sell anything only 15 years later everybody is always in a debate on how much these platforms should be regulated. How awful are they or not we went in 15 years from a place where we did not think that facebook and twitter could sell a bar of soap to a place that we think they're so powerful they can undermine democracy that happened in 15 years. What's about to happen with the consumer blockchain is going to be incredibly similar today as i sit here so many of you have not even begun your journey of actually educating yourself on what a blockchain is you have opinions you have opinions based on one or two or three headlines. You saw or one conversation with one friend.

That has a strong opinion by the way pro or con you have opinions. But the reality is we do not put in the work. However why this is important is very simple it will change the way every single human being interacts now what's ironic about it is it is much more web one than it is web 2. The reason.

It's more web. One for the og's in this room. Especially even a generation even older than me i heard about the internet in high school. But i had no idea how to even get on it no different than people hearing about the blockchain and nfts.

But they don't know how to get a wallet and buy one i kids sit down and wait to hear what i'm about to say in 1994. I used to pay three dollars a minute to aol to be on the internet and if my mom picked up the phone. I was knocked off the internet think about that think about that right now is the biggest opportunity for wealth distribution for company growth and decline. It's starting right in our face consumers will always pick things that eliminate friction in 1996.

I told everybody when i was just entering my father's liquor store business in new jersey that i was going to take my dad on the internet. And i was gonna sell wine on the internet every wealthy successful business person that was in their 20s 30s and 40s that used to come to the store that i would talk to said to me why would anybody buy wine on the internet. You can just come to the store and get it they would end with asking me who who would buy wine on the internet. I would look them dead in the face and reply everybody in 2007 people looked me dead in the face and said why would anybody use twitter who cares if somebody's eating a pizza or walking their dog.

I would look them dead in the face. And say everybody cares humans are very bad at understanding humans. Today. I have dinners all year long and people say to me.

Nfts are so stupid. Bill gates. One of the great technologists of our time. Much like he did with the internet 20 years ago.

Said they're scams and they're stupid. Yesterday on stage or two days ago. People say to me why would somebody want an nft who cares to own a jpeg with a monkey on it and if these are stupid gary. Who is going to own how many people are going to own an nft and for the last year.

I've looked them all dead in the face and said everybody but let me tell you let me tell you why because that's more interesting than a pontification like the lovely gentleman who just put up his phone and showed me a v. Friend. Yes people will collect nfts for collectibility for the art. That is a part of our world just to remind everybody when art went to canvases instead of being on buildings.

This is history the only class that i was good at you can go read it on google. When art had a big innovation. Technology called the canvas was invented everybody in the art world said art on a canvas is not real art. It must be on a building.

So art is a part of our society and collectibles are a part of our society. And that's absolutely true. But let me tell you why i have conviction that all of you will own an nft. All the nfts are are better technology for things that you already want to do many people here if i said 15 years ago on this stage.

If i was as passionate about nfts back then about qr codes. I would say every one of you is going to use a qr code. Many of us would struggle with that 10 years ago. Because they were not a great utility.

It existed some of us as marketers put it on stuff. Four people used it and we deemed it a failure. What i understood about qr codes back then was it was technology. It wasn't a debate.

It was technology today everybody in here uses a qr code a because if you want to eat at a restaurant you need to use it to get the menu but b. It's your airline ticket you're not getting anywhere on any airline. Without using a qr code soon that qr code at your airline will be an nft. It will be better technology for british airways lufthansa and everybody else because it will become a digital asset after you use it today all of our airline tickets sit in our apple wallets and just sitting there from prior flights in a decade.

They will become micro collectibles. Because they will have an artist attached to it and somebody may offer you 280. Because they follow that artist for a flight that you took from bucharest to mykonos. Why is that important why will lufthansa do that why will british airways do that because when that person buys the 280 flight ticket.

You had because remember they commissioned an artist to make it and remember they commissioned that artist. Because most corporations have very big social good corporate initiatives and they chose this artist. Because she's from war torn. Ukraine.

Or she's. A dni candidate or this that and the other thing and then when she makes it and collectors want all her stuff. Including the year where she made all the airline tickets for a month. When that is sold for 280 british airways gets 10 royalty on that transaction so instead of issuing an app or an email or a qr code for you that goes into the digital garbage.

The day you stop using it it becomes a digital asset. That becomes a revenue stream in perpetuity imagine if this technology existed 75 years ago and there was airline tickets from andy warhol or or banksy or whoever you want to choose jackson pollock knock yourself out people don't understand that when technology is built the mundane the day to day every sporting event ticket nft every world cup ticket nft concert nft go to ebay and sites like it around the world right now and see how much tickets stubs from famous events are sold every month. The people that issued those ticket stubs made zero dollars. Ebay made the money dhl made the money the digital infrastructure.

That the blockchain creates allows the issuer and the ip creator to have financial attachment in perpetuity every club card you have to any place the gym restaurant country club digital asset. What people have not done yet and it's why they make the joke of oh you bought that nft for twenty thousand dollars. I right clicked and saved it i have it too hahaha. The reason they make that ludicrous joke that they think they're so clever about but in 20 years.

Everyone's going to make fun of them for making that joke. Just like people that said. The internet was a fad is because they don't understand that the blockchain is not the internet. The blockchain is an invention that created the ability for the whole world at any time to know how somebody owns something digitally and accept it it is a ledger.

The same way that you do you know many people in this place right now own a home own a home. Yeah. Let's race dance clone's a home or an apartment. Do you know how many of the people that just raised their hands have no idea how to prove it just don't know how a title actually works that it's a paper or digital ledger.

That's centralized and controllable by others this is profound technology. Oh and let me remind you one other thing. How many people here have children either their own children grandchildren or nieces and nephews that are of the age of five to fourteen raise your hands let me just ask this room that has that have you ever heard of roblox have you ever heard of minecraft have you ever heard of madden and fifa and all this just to remind everybody every single child on earth. Under the age of 18 is being trained every day to believe and understand nfts all of them all of that you know my favorite part is how many people in this room made fun of their mom and dad for holding on to their hotmail.

Email or dial up or not getting a smartphone or not getting an instagram account for every one of you that's on nfts in this room in your head prior to this talk. I've got good news for you you've become your parents. Now. This is very important because i feel like the last eight minutes have been very compelling and may have started the process of people becoming curious.

And maybe doing something i need you to hear something very very very profound 99 of the nft projects that are in the world today will go to zero. It's very important here what i just talked about for the last 10 minutes. Is not the friends is not board ape is not crypto punks. It's about the technology and consumer behavior as a matter of fact.

Many of the large corporations here are part of the one percent. Because they'll be able to actually provide utility on the back of the collectibility. We have just lived through the collectible era with a hint of utility. We are going to the era of utility with a hint of collectibility so before thank you but before you go and run out and buy something tonight you must you must do 20.

30. 40 hours of homework. What and let me tell you how i did it just two years ago. Even though i watched it in 2017 with crypto kitties.

I bought ethereum in 15. I was watching but i wasn't in because the timing wasn't ready but two years ago when i got very deeply like uh oh the hairs on my neck. It's time it's time i sat on my floor it was covered. I put my youtube on my tv and the first thing i typed in is what is an nft enter.

And i watched hours of videos. I'm not a good reader some of you are so you'll be even more efficient and i had to listen and watch and over and over and over and over and over and over and then when i fell in love with crypto punks. Which was kind of not the first ethereum project. But the one that established the way that the world is working today.

And i always believe history always defeats execution because execution must be sustained forever and so i was very much pot committed to investing. I did 20 hours of why crypto punks were going to be worthwhile and then i did 20 hours of searching. Why are crypto punks at fad enter. Why are crypto punks.

A scam enter. Why i chose to look at both sides the majority of this room both into it or against it have chosen to only look at one side. This is an important time of opportunity because let me give you an example. How many people here sell product on the internet to customers raise your hands can you put the lights on i want to get a sense raise it high please i want to see if i want to go down this path.

I'll go through it quickly here is why another example why nfts will matter to so. Many of you if you sell product on the internet using digital assets to enhance the buyer experience is an incredible opportunity instead of selling to somebody one off as you can imagine whether you're selling toothpaste or clothes or digital content getting somebody to sign up for a subscription with recurring revenue is a much better business model than hoping they come back when you offer your product. If the person buys a subscription. They get a free nft of value you have now induced and produced so much more value as digital assets become valuable and the cost of them to make is so low.

That is profoundly valuable to the person issuing them not only that you will now know who owns it you will know the. Customer they will have it you can then again web 25 use the internet with the blockchain. Web 2. Web.

3 and create web 25. Experiences. Where the individual might have ordered a one year subscription to your business. But six months in you may have a zoom event where all the people that are subscribers have access to a one day digital conference that you put on and you will know who that is because they have to connect their wallet to prove they own the asset to consume it what will that do there will be people who want to get access to the content who have not subscribed to you who will buy the nft off of people who bought the subscription.

You as an organization will make a royalty on that transaction that person will consume the content will become aware of your brand potentially sell after the one day. The asset. Because now the conference is over you become the central bank and economy of your organization. If you have no idea.

What the i said watch the repeat of what i just said on google suck at 90 of things. But for the last 25 years. I was very blessed that my parents had sex at the right second to give me dna that makes me uncomfortably intuitive to what you're going to do. What is very clear to me that you're going to do is there's not a person in this room.

Who's not going to interact with the consumer blockchain at scale many of us hear the history of aol google yahoo microsoft facebook twitter and we missed it we missed the opportunity to invest in the stock we missed the opportunity some of the executives in here missed the opportunity to go work at the company. They were scared. It was too new we missed it i am telling you from the bottom of my heart. Everyone that the next biggest thing since the internet itself and social media.

Itself is now upon us. It is called the consumer blockchain. There's a ton of confusion. One of the reasons.

There's a confusion as i said earlier there's so much greed so much greed. Because there's so much money attached to it web. One and web two all the money was behind the scenes. The vcs and the startups but the consumers us we didn't we didn't get to participate.

We just used the products unfortunately. And i see this as an entrepreneur and a capitalist. Unfortunately. There's so much money being thrown around that we're seeing the worst behavior in people trying to steal and scam and then even not bad intent people i'm sure this is not going to confuse anybody.

People do dumb for money and so people are guessing and hoping and borrowing and just and unfortunately. The market got very hot for a year skyrocketed prices. So people that were guessing were winning and when people that are guessing are winning. I'm always scared.

I'm incredibly happy standing here today based on the last six to 12 weeks of the correction of the market. It's going to weed out a lot of people that are going to go on to the next thing that they think is a quick buck. But the builders. The technologists the people that understand what the consumer's actually going to be doing for the next 20 years.

This is their favorite time i want to remind everybody especially the ogs that lived it to remember and then for the kids that didn't live it i want to remind you when the internet started to get momentum in 1997 1998 1999 many of those companies went. Public some of those companies went public in. 199899. And were worth 80 billion.

This is back in 1999. That's like 80 trillion today 80 billion 50 billion. They didn't have any revenue. The world subconsciously this is very important sentence.

The world subconsciously knew something big was happening thus pushing so much money into it. But the thing that was happening wasn't mature yet and so what everybody expected me included. I was a kid somebody asked me yesterday they they're doing a pretty deep research on me and she asked me what have you gotten wrong. Because she's trying to she wants to actually get me she wants to razz me.

She's like i can't find it and i said i got lucky everything i got wrong was before i made content. I got a lot of things wrong in my 20s. I didn't understand timing let me explain how it played out in 2017. I saw an ethereum project called cryptokitties who's familiar with cryptokitties.

Very nice i saw it but because i learned the lessons of timing in the 90s. I looked at it and i said nobody's doing this yet. It's a very very very small very nerdy group and i love the nerds they're always right. But what they're wrong about is timing.

Too i mentioned the metaverse earlier the metaverse makes a lot of sense. It's less friction for the consumer. We're just not there yet the technology's not there yet the consumer's not ready. But there'll be a time.

The mistake. I would have made back in the 90s is i would be giving this speech in 2017 and i would have been wrong. I would have been too early. The reason.

I give this speech in the middle of 2022 is now we're close now. We're close millions are involved hundreds of millions are aware big corporations really creative people are all testing and tasting starting their process this next five years those internet stocks that were worth billions 99 of them in march of 2000 went to zero history always repeats itself my friends 99 of them went to zero. However if you did your 20 30. 40 50 hours of homework back then you might have done what i did.

Which is you might have really believed in this one ceo out of seattle left named jeff bezos. Who had a company named amazon and he would have known that people actually were buying a little bit from amazon and you would have loved that the stock during the crash went from a hundred dollars to four dollars in the next year. The nft market will clean itself out in the one to two percent are the next amazons ebays and paypals. What i what i desperately want for everybody here.

Because i want to get an email from you in 13 years saying. Thank you and then they said you know is it bucharest in 2022 at first. I thought you were full of but then i did the homework now i made a million dollars. Thank you gary you're welcome sandro what i want for this room what i came here to do was to give context clarity on actual consumer behavior.

Timing with the hope to inspire you to not listen to me to not listen to the mainstream media. That always has an agenda to not let the world advance because it hurts their business model to not listen to your one internet friend whether they're pro or con. But for you to have the curiosity and the understanding that you've lived long enough now to know it hasn't mattered in the past. When you didn't want the technology.

You eventually had to figure it out and it's always better to figure it out early to go home. And do the work it's a perfect time it's the summer. A lot of you are gonna go on vacation. A lot of you are gonna do half day friday.

A lot of you are working remote and actually have a little more time to do an hour of research. This is the time to get educated. On. Web 3 and start executing web.

25. Web 25. For me the way i define. It.

Is when you use equally and aggressively the current state of the internet social discord and the blockchain which i would argue is the far majority of what's happening now we are not in web. 3. Yet we are not in decentralized servers at sales yet. We don't have a tick tock and facebook social network.

Yet that's built on the blockchain that's owned by nobody and we all use you know i actually am going to close with this i'm going to tell you why i'm so excited about the blockchain. The blockchain is decentralized nobody controls it over the last five years us human beings have gotten very good at something let me tell you what that is we in the last decade have become remarkable at blaming everyone and everything besides our own selves. I listen to people talk about facebook and instagram and tick tock and china and mark zuckerberg. And this and that in short order there will be a leading social network.

That is decentralized rendering nobody in control of the algorithm that will be the day that everybody realizes the algorithm didn't you up you yourself up. I believe if we are fortunate the blockchain will become the foremost technology to allow us to start the process of a more brighter decade. One that we all realize that accountability accountability is the foundation of happiness. It may not be fun to face the mirror and understand your shortcomings.

It's not fun for me i have plenty. But i promise you you want some anxiety to come off your chest. You want to smile a little more than worry it starts with accountability and i believe as we head into this decentralized world accountability will gain momentum and that will be good for society bucharest. I love you thank you for having me.