Billy Evans

My understanding is this: - onchain revenue obviously accrues to the token - off chain revenue for integration goes to CLL opex, but these are one time set up costs - off chain revenue for usage (I.e. partners who are paying usage costs in fiat) gets converted to LINK and is used to pay nodes and stakers, the leftover goes to the reserve. This all comes from Chainlink documents and videos. Usage fees are what will really drive the price of the token but that wont happen until usage scales. But usage should scale considering the level of integration that is occurring. The big question though is why isnt the token reflecting this already?

Day 3 in the quest for an answer on @chainlink’s: - value distribution - lack of transparency - inorganic sell pressure Responses from top $LINK marines: 1. Lack of transparency is for our own good We should understand, not question. There’s a bigger plan and solid financials we’re not supposed to see. 2. Chainlink Labs captures the value. $LINK is just a service token. CLL generates hundreds of millions in revenue, but $LINK holders are not entitled to it. Today, the system works as follows: > Revenue accrues to CLL > Sell pressure hits $LINK > No direct value routing between the two CLL revenue ≠ network value accrual. Holders should be okay with it because: > big things are coming > more usage will drive demand 3. Transparency creates competition, and we don't want that. The Google analogy keeps coming up, but Google didn’t ask users to: > fund its growth > absorb sell pressure > speculate on future alignment If opacity is required to win, fine, but then let's make one thing clear: this is a company-first strategy, not a token-first one. 4. Staking caps are low by design. CLL is waiting for Clarity to make a single big splash. CLL is just waiting for the Clarity Act to drop and create a big moment. So the idea is: >Mechanisms for increased demand already exist > They could be deployed now > They're intentionally delayed for timing/impact That raises a simple question: If the system is ready to absorb supply and strengthen demand today… why should holders wait for a regulatory catalyst to unlock it? It's not looking great.

Worst part of X ui, I don’t want to listen to spaces, why do I have to have this purple bar blocking the posts? Can I get rid of it? @nikitabier

@TheLongInvest Correct, but you’re missing Chainlink.

Blackrock CEO Larry Fink: 'The next generation for markets… is the tokenisation of financial assets.' But what does this mean? It means that: Stocks, bonds, funds, Real Estate etc will all be on the blockchain and moved away from traditional systems which typically take days to process. Meaning, no more: - Paper records - Brokers and clearing houses - or 2-3 Day Settlements - This also allows 24.7 commerce and trading. This is a major shift in the financial world And it will be lead by one crypto eco-system: $ETH

@TedPillows @nikitabier Integrating an AI content detection feature isn't just good policy - it's good business. The companies who do so will distance themselves from the pack. ...that's my handwritten AI slop.

X officially integrates AI content detection feature. Good job @nikitabier.

@ClintFiore Driver should be the same, but you’ll probably hit your irons fat

Does getting better at golf exclusively while playing golf simulators mean I'm actually better in the real world? Or am I still gonna be a shankopottamus when I play my next tourney IRL?

@girdley You need a new deal team

Buying an $8mm real estate property: 2 lawyers, 9-page template contract, a few inspections, 9 weeks Buying an $8mm business: 12 lawyers, seventeen 85-page custom contacts, 1,400 pages of diligence work, 9 months

@Seanfrank Where are you getting your data on multiples?

Everything you need to know to sell your brand: Ecom valuations are going to rise again in the next 24 months. Here is everything you need to know if you want to make money during this window. 1- How are companies valued? Almost everything will be sold on a multiple of earnings. If you are small, you will use "Seller discretionary earnings". The money you as an owner can take every year. If you are bigger, it will be a multiple of EBITDA. Right now, a mid growth brand (growing 20%), in an average category (clothing, not beverage), with a solid team and clean financials, with 10 million in trialing 12 month EBITDA could get 8x-10x. That means they will sell for 80 million to 100 million. What makes the multiple go down? - not at all time high revenue (shrunk one year) - weak margin / too discount focused - bad channel mix (too amazon, too wholesale) - platform risk (tik tok shop) - tariff risk (all china) What makes the multiple go up? - good product mix (multiple hero items) - very diversified revenue (omni) - best in class margin - very strong LTV - HIGH MER But this brand will not trade on REVENUE. If someone told you that, they lied to you or are old. PE buys profit. The only things trading on revenue will be beverage or the most elite CPG. Gruns could get a rev deal done. Ridge cant. But valuations, multiples, will continue to go up. why? 2- Interest rates are coming down. SAAS is being crushed. All this money needs to seek a return and ecom/brands/cpg have been suppressed for a while. It is a natural ebb and flow- Dollars are going to come in, valuations are going to go up. Covid highs we would see this appeal brand go for 10-14x EBITDA. In 2022-2025 the lows got as bad as 4x. So we have already recovered a lot from the low, but we are still 50% off the peak. Do I think we will see 20x EBITDA deals again? Or 3x revenue deals? no. But I think the asset class is still underpriced and will turn out to be pretty ai resilient. 3- Understand timing and terms. Part of the rise in valuations will be doing deals on forward looking projections. The past 4 years every deal was being done on trailing 12 months. I suspect in the next 12 months, more deals will be done on forward or current year numbers. SO doing a deal in June, but getting credit for the projected ebitda for the entire fiscal year. The flip of this, in the past 4 years most deals have been very preditorary. Lots of coupons, dividends, participation snuck in. I saw deals being done at 10x EBITDA, but its a minority deal where the buyer basically is guanreteed a 4x on their money... Someone was buying 25% of something but getting so many protections its like they owned th3 whole thing. Thats all going to go away 4- Hire help. If you are small use a broker or a lawyer. For 50k a lawyer can save your ass on a 3 million dollar deal. If you are bigger, 3-5m in ebitda and up, hire a banker they will charge 1-5% of the entire deal, but every banker pays for themselves. they will find more buyers, tighten the screws, and guarantee a deal closes also- if you want to sell, dont miss the window. the windows are open 2 years every 6 years. Eventually everything goes to shit and you gotta wait out the bad times anyway- this is actually a series and this is part 1 of 5 suckers see you soon

@Han_Akamatsu Can you give us more swing trade plays? Instead of just 0dte and weekly options?

Right around summer I had a +$250,000 position in $NVO. We got the bounce we wanted after the early August 25’ dip, my average was somewhere near $48? Something like that, and got out with some good profits. This position would be down -$50,000/70,000 by now. This market treats better the swing traders, than the long traders. Buy into strength and sell into resistance.

@Han_Akamatsu Seems like it might be smarter to do toward shorter time window trading, like 0dte, with an edge like heatseeker…

I came to the conclusion that no stock is safe these days. No matter the innovation and how ahead of the curve they may are, with such AI technology around now, any thesis can be dismantled overnight. It’s okay searching for Drones and Space satellite plays. Something with exponential growth. And although there may be some players ahead of their competition, you can wake up one day, with another player revolutionizing the whole sector and your stock being -40% with a snap. What you do next? Wait and hope, or move on? One year ago stocks like Duolingo indeed were ahead of the curve on the space, but since nobody really is motivated to learn a new language as long as they don’t immigrate, rest tasks can be easily managed by AI translators. So I’d really say believe on a thesis, but never marry a stock. Things are changing faster than ever, and you never know what’s next. Even a day can make a difference with all this stuff coming out.