DomoDomo.eth

Nice thing about kids is, no need to buy art for next 10 years. 😃

@iampaulgrewal 2 parts idealism mixed with 2 parts pragmatism mixed with 2 parts realism and 4 parts execution is what successful companies and people do.

Constitution>statutes>regs>guidance. Always. But in law you work with the tools you are given, not the ones you wish you had.

@materkel Sorry, I fat fingered the approval... but I enjoyed making all the arbitrage people rich... I would argue there has to be at least one other check box or a slider if you're gonna lose 90% of your investment or basically 100% in this case.

imagine having the kind of "fuck you" money of a person one clip swapping ~$50M on a smartphone, ignoring all slippage warnings... and losing $50M (!!!) in the process☠️

@iampaulgrewal They said same thing about money markets... everyone adapted, banks will too... my .05% bank yield on cash from banks is criminal when banks are overnighting my money at 5% and keeping the spread by doing nothing.

What is being attempted is to take rewards out of retail consumers’ pockets and put it into the pockets of the biggest banks on the planet. All to prevent a deposit flight “risk” that lacks any evidence whatsoever. Is that what people elected their Senators to do?

This is very true, however, apply that to the last four years and ask the upside down deal owner's with recourse debt and stress... and LP's asking where their returns are and where their money is, and the waterfall lawsuits. I'm all for leverage, but, unless your doing deals during a historic continuous rates going down environment, there is a lot of people (GPs and LPs) that tried to jump into this approach in the last four to five years and they got completely wrecked. RE is more of a bet of interest rates than in anything else, rates go up 500 basis points prob underwater on valuation no matter what, rates go down 500 basis points, your prob printing record exit profits.

Two real estate investors. Investor 1 Uses only his own money. Investor 2 Starts raising capital. Let’s look at the numbers. Year 1: Investor 1 Has $2M he’s comfortable investing. Buys deals at 25% down. $2M → controls $8M of real estate Investor 2 Also invests $2M of his own money But raises $8M from investors Total equity = $10M 25% down → controls $40M of real estate Same net worth. Same starting point. But one change. Investor 1 buys $8M of property. Investor 2 buys $40M of property. 5x more. Now fast forward 5 years. If both portfolios double… Investor 1 → $16M portfolio Investor 2 → $80M portfolio But here’s the part people miss. All the things that make real estate powerful compound with time: Cash flow Appreciation Loan paydown Rent growth Tax advantages When you control 5x more real estate, those benefits multiply too. That’s why the biggest real estate investors don’t just buy property. They raise capital.

If you know about the bitcoin block size wars - imagine anybody getting anything done with BlackRock, ETFs, fund managers, Michael Saylor and all the other paper bitcoin managers ... working to consensus with core devs... in my opinion Bitcoin is at high risk of failure to make any or the right changes in the proper timeline without impacting its economic purity, incentives, tgere is no security budget as it stands today... I would invest in Ethereum, no such monumental unknown risks like BTC is going to face.

This is why I was alarmed when I had a core dev on my show and he said that "the community at that time" would make decisions on what to do. He also said making Bitcoin post-quantum was a two-step process. And that he knew the community would easily choose to burn Satoshi's coins. And that they'd do a block size increase to deal with the greater data requirements for a post-quantum signatures ... and a lot more. I hate to say that it didn't give me confidence 😬 x.com/laurashin/stat…

Do Bitcoiners understand the exponential? Over the past 15 years, the estimated physical qubits needed to crack RSA-2048 has dropped by 10,000x. 📉 2012: ~1 billion 📉 2017: 230 million 📉 2019: 20 million 📉 2025: ~900K 📉 2026: ~100K That last number? Published this month by Iceberg Quantum. $ETH has already started migrating to post-quantum cryptography. Meanwhile $BTC maxis are still debating whether quantum computing is even real. It's real. And the curve isn't slowing down. The question isn't if quantum breaks current crypto — it's whether your chain upgrades before it does. 🔑 10,000x in 15 years. What does the next 5 look like?

@Camp4 AND is an important word to thoughtfully consider when goal setting, the unchallenged/lazy use of OR secretly eliminates options during planning when other terms can keep things in play, but on a different time horizon if needed...

Most guys can relate to this. But you can do both. There are seasons to life and it’s good to reinvent yourself every 10 years. The problem is most people don’t have the courage to do it, so they stay in one season forever.

@Camp4 @mattpat1 That is not cheating, that is equipping and putting yourself in the best place to win your goals, great work, don't allow any others words besides your own and/or others getting after your same results to have any space.

@mattpat1 Amazing transformation, my friend!

Left: Me a year and half ago. Right: Me this week after 6 months of health based changes. Yeah, I used the stack: TRT, peptides, NAD, retatrutide. Call it cheating if you want. But the stack didn’t lift the weights for 6 days a week. Didn’t force high-protein, low-cal meals when I wanted to cave. Didn’t keep me consistent when the excuses hit hard. The compounds opened the door. I walked through it every day because I decided that my 40’s were going to be the best years of my life. Burn the ships, decide there is no going back. Decide you’re done drifting. The body is just the receipt. God gave you this life to build something with it. Stop wasting it. Your move, brother. 💪 Want to check out TRT use bolt.health and my code MATTP100 for a discount. Want NAD+, Glutathione, etc. check out ionlayer.com and use my code IONMATT Have questions? Shoot me a DM.

I was a no coffee person into my 30s until I saw many older-v older healthy people religiously consuming, there is a lot of long-term studies, Nurses Health Study, 200k over 30 years, and a follow-up, HPFS, 130k, showing and confirming long-term benefits to coffee consumption. So, that is 100% in my daily.

@CoachDanGo Same. It’s my one vice and I’m ok with that.

Awhile ago I quit coffee for 6 weeks to see what would happen. Although I had a slight boost in my sleep I came to the conclusion that life is better with coffee than without.

@Camp4 100%, my dad, who studied addiction medicine, said oftentimes ones greatest strengths are also their greatest weakness, the CEOs are there for a reason, IMO it is also a 1% type of personality + skillset, usually not there to enjoy the moment and chill...

Something I've observed in both rock climbing and business: People at the top levels tend to be selfish. It's probably part of why they're successful (if you measure success as accomplishment at one thing) but it also tends to make them bad friends, spouses, and parents. In general, people who are exceptional at one thing tend to be unbalanced and equally bad at other things. Many of them will concede that they live a tortured existence. I know climbers who’ve turned the thing that once brought them joy into a source of misery. Yet they won’t change because the scoreboard says they’re winning. Ask me how I know... As a goal-oriented achiever, I've only recently (at the age of 55) learned to slow down and smell the roses. Now I see the negative traits that I used to embody (and still occasionally do) and it makes me cringe. I used to pride myself on being an elite among elites. Now I realize that version of me was just… a clown. To be clear, there’s nothing wrong with ambition and achievement—but it’s important to pause and answer this question: What is winning, really? A lot of really smart people buy into a fallacy: If they just collect one more trophy, then they’ll be happy. The world around them exists to support that endeavor. The truth is that most of our suffering stems from two things: 1. Not being present. In a literal sense, the only time you can experience happiness is right now. 2. Being focused on self. Any parent knows that there’s something better than standing on the podium... Helping someone else reach theirs. 📸: Chasing another hard send in the Flatirons. Just one more and then I'll be satisfied.

Yes and if they bought at peak low interest rates (peak price) they're likely not gonna see the evaluations back to those points unless interest rates go back down. Super low interest rates are a blessing and a curse... blessing for sellers and sometimes curse for investors or developers unless they have ultra conservative underwriting.

The deals for renting a cabin in the Smoky Mtns are some of the best I’ve seen. This is off season & slow, but in the past many owners wouldn’t adjust their prices down. Now you have lots of people who bought at peak, desperate for revenue taking $150/nt for a 6 bedroom, sleeps 20 cabin. If you’ve ever wanted to visit and you’re on a budget, now through April are going to have some of the best deals you’ll ever see. In May the prices will shoot back up with tourist demand for the summer months and fall colors and then holidays, but currently, you could stay an entire week in the Smokies for less than $1,000. And it’s one of the best time for hiking, mountain biking, horseback riding, ATV’ing and sightseeing since no leaves on the trees encumbering any views of the mountains from practically anywhere.

@dig_deeper1 If I bought every property I looked at over the last 20 years my net worth would be 20X... I've probably decided that 90% of the properties I looked at were overpriced and all of them are at least double or triple to quadruple in value if you go back 15 - 20 years.

If you want to buy a property that’s over your budget and you want to wait until you can afford it I don’t think that’s the right approach Buy within your budget even though it’s not the property you want. But your money will be at work. That’s what matters.

@dig_deeper1 What are some other cities you would recommend - my goals are to rent half of it and keep half of it optional, rent or keep as a residence.

@Law_Privacy Yes there are. Duplexes there are in the $800k+

If you can afford the $500K debt to buy a property then do it. You’re locking in $500K capital. Never sell. Power of real estate. Many folks don’t understand this

@ChrisRamsey60 Which almost always directly correlates to the rates they bought at v are now... lower rates now, they are genius timed sellers, rates higher now, odds are they are under water or even, struggling.

It doesn’t matter what the owner bought the property for! How much is it worth today? How much can you make it be worth in the future?

There is dark side to STR, I've seen many beautiful buildings that used to be condos or townhomes with great character and great residents, turn into cheap, loud, lifeless motels once they allowed STR, and, anybody who actually still wanted to live at the property found themselves living next to transient strangers every night and the associated music, festivities that go along with it. Good for the investors, bad for the building/community.

Our county council is now considering new regulations that would severely restrict short term rentals. This is the main reason I've avoided the STR asset class: any city or county council could destroy the value of your portfolio at any time.

No successful technology company ever launched version 2.0 first, they launched an imperfect 1.0 as the best they had and then iterated, millions of tech companies never launched out of fear it was not perfect... same for Clarity, let's strike v 1.0 while we can, seeking perfection is not the goal, pass and work towards continues innovation. @brian_armstrong @coinbase

It’s always a pleasure with sit at a table next to @s_alderoty, @milesjennings and other wise crypto counsel who can run legal circles around anyone. Especially when we work together, hand in glove, on behalf of all of the crypto community, as we did today. Thank you.

I thought I saw Blackrock wrote down a private lender fund 20%, guessing some of that is in hopelessly lost upside down multi-fam... LPs wholly wiped out, agree debt getting a haircut too. Lesson to learn about doing anything during historical low interest rates, be very very very cautious on your costs (likely peak high), and construction loan refi-assumptions, very risky... only thing not risky was to sell at all time high prices.... 🤔

My saddest meetings recently are with developers just finishing new multifamily buildings in LA. Best case, for the ones who underwrote & borrowed conservatively & kept a lid on construction costs, is they can refi the construction loan (maybe with a little cash-in) and live to fight another day. For those who pushed the boat out on their underwriting in '21-'22, there is ~no hope for the equity and even the debt is going to take a haircut. By temperament, am inclined to try help. But there's not much a property manager can do if you need rents that are 50% north of current market.

They made a similar false argument when they were considering money market savings accounts... the best thing for the consumers and the banks and the financial industry is to allow free market and let people choose where they want to have their yields... the banks still have FDIC and some other things that let consumers decide... right now the banks are taking advantage of consumers by offering almost 0 yield while getting 4% on the overnight.

Kind of amazing to read in the WSJ of big bank CEOs being mean or short to @brian_armstrong at Davos over Clarity. These are the CEOs of some of the largest companies in the world. They represent over $5 trillion in balance sheet and hundreds of billions in annual revenues. They've collected gobs of money in bailouts over the years and have regulatory moats every other industry could only cream of. But it's a $50b crypto company they think is harming them? The thing that frustrates me most about the stablecoin debate is the sheer amount of inaccuracy and misrepresentation that bank CEOs now spew on a regular basis. Some of the more egregious ones: Stablecoins hurt borrowers: False. They help savers and people who want better payments. That's literally everyone, every consumer and business in the country. Borrowers are a tiny subset of that group. The borrowers who get their credit from a bank (as opposed to capital markets or the government) are an even smaller subset. The government has forecast $6 in threatened deposits: False. That entirely made up figure, with little academic rigor, was put out by a private sector advisory group, many of its members work at banks. Stablecoins are especially dangerous to small banks: False. The too big to fail banks are the real threat to community banks. We saw this post-SVB when massive deposits ran from small banks to the TBTF ones. Many of the largest banks have ambitious branch expansion plans in the coming years. JPM alone is executing a plan to open 1000 new branches, many in new markets. Why do they want to do this? To take deposits from smaller banks. The CEO of PNC said as much to @TheStalwart & @tracyalloway on their podcast recently Imagine a 60 year old farmer in Nebraska who currently banks at a small community bank in town. If he switches, what do you think he's likely to switch to, a checking account at a new JPM branch, or a Coinbase wallet holding USDC? Stablecoins are a pure threat to banking system deposits, and by extension, lending: False and False. A lot of the money that goes into stablecoins will end up back at banks. It'll just be in different types of accounts that pay more interest. Stablecoins threaten bank profits, not lending. It's logical to regulate stablecoins as either bank accounts or money market funds: False, and stupid. This is like arguing ChatGPT should be regulated exactly like a search engine, and if that doesn't work, then LLMs should just not be allowed to exist. Stablecoins are a novel product with unique features that require bespoke rules. Narrow banks aren't nearly as dangerous as levered ones, and tokens on a public blockchain are not shares on an exchange. Every single student who takes my class intuitively gets this. I have a hard time believing the CEOs of the biggest banks in America don't. Brian is right, they just want to outlaw competition in a way that hurts consumers and businesses, not to mention innovation and progress. Their approach is deeply un-American.

@iampaulgrewal @SECGov Pretty solid clarity and guidance.

It’s happening. What an excellent preview by @SECGov of how tokenized equities can be issued for onchain trading. You are going to see these products in market with the support of a regulator that understands the importance of these innovations to US competitiveness. 1/2

Being with the right partner makes all the difference... it's just like tenants... if you have good tenants everything runs perfectly... even probs are worked through w/o prob... the property is the same no matter what... but if you have a bad tenant (just like a bad partner) its going to be a pain.

There is never a 50-50% partnership. If you think it does then let me tell you the other guy has the upper hand. Doesn’t matter what the contract that you signed says. When it gets ugly at the end of the day it really comes down to who has the more expensive lawyer