Now, today, we have one of my favorite

segments called how not to invest. Hit

the music.

>> How not [music] to invest.

>> How not to invest.

>> So good.

I almost want to play it again.

Not going to do it though. Okay, so I

told you one of the stories yesterday,

the zombie L1s, cuz there's another one.

Harmony's one sinks 37% after attacker

mints 4 billion tokens. That's me right

there. I told you they minted 4 billion

tokens, went and sold them. Now Harmony

has to decide whether they're going to

roll back the chain or what they're

going to do and blah blah blah blah

blah. But at the same time, a quieter

story, one of the darlings of previous

cycles, RavenCoin. This is proof of

work, not proof of stake,

crashes

20% as critical exploit threatens to

roll back network. So, different kind of

hack. RavenCoin suffered a consensus

exploit that allowed blocks to be mined

without performing the required proof of

work.

Cool.

Right? So, they have

They didn't even know They didn't even

announce it there for a couple days,

right? And so these are just separate uh

chains with individual problems. But it

Here's the story, and this is the how

not to invest is don't invest in zombie

crypto projects and certainly in zombie

crypto L1s.

But I mean, dying chains don't just lose

like their price and their users, they

lose the developers, which means that

they lose the security, and as the hash

rate drops, they don't have the security

that they did, and it means they're ripe

for attackers, and now we have AI and

mythos and fable and all these killers

AIs that are going to steal our women.

They're coming for us,

and they're going to come for your

stupid L1 that's been dead for 5 years,

but still has for some reason tens or

hundreds of millions in market cap and

fully diluted value,

and you're going to lose your money. So,

listen, if you're still invested

or trying to invest in something, it's

down 99%. It's a great deal. It's not a

great deal, it's dead.

Right? And something down 99% can go

down another 99%, especially in a world

where someone can hack it, make a few

million dollars, send it closer to zero,

and there's nobody even sitting in the

lighthouse watching for it to happen,

right? There's nobody guarding the walls

of these things. The security is

entirely gone. How not to invest. Don't

buy these stupid things because then

you, like the people who think that

we're going to get a rate raise, will

also be smoking crack.

It's all we got for you today. Am I

allowed to talk about smoking?