Market Mondays 12-16-24

Summary

Market Mondays Episode Summary: December 16, 2024

Hosted by EYL Network, Market Mondays features Rashad Bilal, Troy Millings, and stock market expert Ian Dunlap, who delve into strategies for thriving in the stock market under any conditions. In this episode, released on December 17, 2024, the hosts discuss a wide array of investment topics, ranging from the burgeoning fields of artificial intelligence and quantum computing to the enduring strength of cryptocurrencies like Bitcoin. Additionally, they engage with special guest Caleb Silver from Investopedia, exploring investor sentiment and market trends.

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1. Market Updates and Announcements

Before diving into the main discussions, the hosts briefly mention upcoming events and promotions. Notably, they announce the relaunch and expansion of EYLU (Earn Your Leisure University) with new educational content, local chapters, and interactive teaching sessions.

2. The Rise of Broadcom in AI Infrastructure

Ian Dunlap opens the discussion by highlighting Broadcom's impressive performance in the AI infrastructure sector. At [15:00], he states:

“Broadcom just made $87 billion this quarter. They've blown out their earnings and are forecasting growth until 2027, showcasing their firm belief in their growth potential.”

Rashad Bilal adds at [16:10]:

“Broadcom is integral to the AI ecosystem. As companies like Nvidia lead in AI, Broadcom provides the necessary high-efficiency chips, making their success logical and sustainable.”

The hosts emphasize Broadcom's strategic partnerships, particularly with tech giants like Apple, positioning the company as a cornerstone in future technological advancements.

3. Quantum Computing: The Next Frontier

The conversation shifts to quantum computing, with Rashad discussing its current state and future prospects at [46:00]:

“Quantum computing is still in its infancy. Current systems like Willow’s 105 superconducting qubits need significant advancements to reach operational reliability, requiring around 1,500 qubits for satisfactory error rates.”

Ian Dunlap echoes the sentiment, expressing skepticism about imminent breakthroughs:

“I need to see more tangible demonstrations. Without solid proof, it’s hard to place confidence in these claims.”

They explore potential investment opportunities within the quantum computing sector, focusing on infrastructure and hardware companies essential for the technology's advancement.

4. Bitcoin and Cryptocurrency Outlook

A substantial portion of the episode is dedicated to Bitcoin's future and its role as a hedge against inflation. At [23:59], Ian provides his projections:

“Bitcoin’s low-end target is $155,967, with a high-end target of $211,885 by the end of the year, contingent on various economic factors.”

Troy Millings supports this bullish outlook, highlighting institutional investments and Michael Saylor's influence:

“Michael Saylor continues to position MicroStrategy as a leader in Bitcoin investment. As Bitcoin gains traction as an asset, MicroStrategy stands to benefit significantly.”

Rashad emphasizes Bitcoin's resilience against centralized control and its potential to overshadow traditional assets like gold:

“Bitcoin has the potential to overtake gold by 2040, especially if the U.S. adopts a security-backed stablecoin, bolstering its legitimacy and global acceptance.”

5. Elon Musk’s Strategic Influence

The hosts delve into Elon Musk's multifaceted influence across industries. Troy discusses Musk's diversification and political connections at [34:00]:

“Elon is not just an entrepreneur; he's building an empire that spans automotive, space, and telecommunications. His close ties with political figures like Trump amplify his market influence.”

Rashad reflects on Musk's role in driving technological innovation and economic impact:

“Elon's ventures, from Tesla to SpaceX, contribute significantly to America's GDP. His strategic moves ensure that his companies remain at the forefront of technological advancement.”

6. Interview with Caleb Silver: Investor Sentiment and Market Trends

Caleb Silver, Editor-in-Chief of Investopedia, joins the discussion to share insights from his year's analysis. At [89:00], he notes:

“Inflation topped our list of 2024 terms, remaining a central concern despite slowing growth rates. Investors were also highly focused on tariffs and geopolitical tensions, particularly with the ongoing wars and U.S.-China relations.”

Caleb highlights Analyst perspectives on the stock market's continued strength:

“Despite fears of a recession, investor confidence remained high, driven by significant gains in AI-related stocks and the launch of new financial products like Bitcoin ETFs.”

He anticipates evolving investment strategies as Bitcoin gains institutional favor and traditional sectors like technology and energy continue to lead growth.

7. The Intersection of Betting Culture and Investing

A unique segment of the episode explores the convergence of betting and investing. Caleb discusses the rise of betting on financial outcomes:

“2024 saw the emergence of betting on everything from election results to stock performances. Platforms like Moneyline Bet have made it easier for individual investors to engage in this trend, blending traditional investing with speculative betting.”

The hosts debate the implications of this trend, considering its impact on market dynamics and investor behavior.

8. Data Centers: The Backbone of Modern Technology

Rashad introduces data centers as a critical yet underappreciated investment term at [104:30]:

“Data centers process the most valuable currency of the 21st century—data. With companies like Blackstone aggressively acquiring data center real estate, this sector is poised for significant growth over the next decade.”

Ian underscores the importance of infrastructure in supporting advancements in AI and other technologies, positioning data centers as a foundational investment pillar.

9. Closing Thoughts and Future Projections

As the episode wraps up, the hosts reflect on the year’s lessons and offer projections for 2025. Ian expresses caution about potential market volatility:

“The back half of 2025 may present challenges, including possible inflation resurgence and market corrections. However, staying invested in high-growth sectors like AI and cryptocurrency remains a prudent strategy.”

Caleb emphasizes the importance of continuous learning and adaptation in investment strategies, advising investors to remain engaged and informed.

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Notable Quotes with Timestamps:

• Ian Dunlap [15:00]: “Broadcom just made $87 billion this quarter. They've blown out their earnings and are forecasting growth until 2027, showcasing their firm belief in their growth potential.”

• Rashad Bilal [46:10]: “Quantum computing is still in its infancy. Current systems like Willow’s 105 superconducting qubits need significant advancements to reach operational reliability.”

• Troy Millings [34:00]: “Elon is not just an entrepreneur; he's building an empire that spans automotive, space, and telecommunications. His close ties with political figures like Trump amplify his market influence.”

• Rashad Bilal [104:32]: “Data centers process the most valuable currency of the 21st century—data. With companies like Blackstone aggressively acquiring data center real estate, this sector is poised for significant growth over the next decade.”

• Caleb Silver [89:22]: “Recession never made it past the top five. What were they worried about? First they were worried about interest rates. Then they had worries about geopolitical concerns...”

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Conclusion

In this episode of Market Mondays, the EYL Network hosts provide a comprehensive analysis of current and emerging investment trends. From the robust performance of Broadcom in AI infrastructure to the promising future of Bitcoin amidst institutional backing, the discussion offers valuable insights for both seasoned investors and newcomers alike. The exploration of quantum computing's potential, Elon Musk's strategic maneuvers, and the evolving betting-investing nexus further enrich the conversation, underscoring the dynamic nature of today's financial landscape. The episode closes with an engaging interview with Caleb Silver, highlighting investor sentiment and setting the stage for future market movements.

Transcript

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[Ian Dunlap]

December deals just dropped at Lowe's. Get up to 30% off select major appliances. Plus take an additional $75 off every $1,000 you spend on select kitchen major appliances from Whirlpool, KitchenAid, Amana, and Maytag. Also save $20 on a Craftsman Versa.

[Rashad Bilal]

Stack rolling tool chest.

[Ian Dunlap]

Now just $69.98. Lowes knows deals valid 1212 through 1218 cannot be combined with additional discounts. See lowe's.com for details and qualifying items. Wal earners.

[Rashad Bilal]

What's going on? Listen, EYLU is relaunching, revamping, retooling. That's right. We're creating a new educational experience that's more expansive. Shoti, tell them what we got.

[Troy Millings]

Yes, 2023. We got a lot in store, a lot planned for you guys. So you know that EYLU already includes monthly financial planning calls with me, book club calls with Troy, real estate calls with MG the mortgage guy, access to the home buying blueprint volume one and volume two. Part of the revamp will include 27 local chapters from across the United States. Live interactive teaching, hands on, not just pre recorded videos. Plus 15 brand new curriculums.

[Rashad Bilal]

The biggest just got bigger.

[Ian Dunlap]

Head over to eyluniversity.com that's E Y.

[Rashad Bilal]

L U N I V E R.

[Ian Dunlap]

S I T y dot com. See you there.

[Troy Millings]

All right, guys, we're back. Welcome back.

[Ian Dunlap]

Yeah, Happy Monday.

[Troy Millings]

Market Mondays. Yes, Ian. Fighting through illness Facts. Well, you know we're gonna get it, gonna get it done.

[Rashad Bilal]

Shall not prosper.

[Troy Millings]

Sure a lot to talk about. End of the year projections, predictions, the whole, the whole nine. We got a special guest, Caleb Silver joining us later on in the show. And man, we got, we got a lot to cover, man. Before we start, definitely wanted to black out. We have Blackout Wednesday at 10:00. Make sure you check that out. And then we got a special episode of Earn your leisure this Thursday. Hold on. Did you ever decide what you're gonna do? Class?

[Rashad Bilal]

I moved it.

[Troy Millings]

We got a special episode of earn your leisure this Thursday at 6:00 for one of the greatest lyricists of all time. Common shot Town.

[Rashad Bilal]

What up?

[Troy Millings]

Yes. Shout out to Diamond Chicago. Chicago's very old South South. And not just, not just, not just the lyricist, actor, legendary actor, you know, Fat Joe actually told a story about how he was heavy and how, how Common was heavy in real estate in the 90s.

[Rashad Bilal]

Yep.

[Troy Millings]

In Chicago, of course. You know.

[Rashad Bilal]

Author.

[Troy Millings]

Yeah, author. When you talk about Kanye west, that's definitely part of the Kanye west legacy as far as him really getting back to the roots. Kanye getting back to his roots at that era. You know, he definitely had to tap in with Common and Pusha T and a few other people, but that meant a lot for the city. When Common came, came back under, under Kanye west.

[Rashad Bilal]

That was the time. That was the time that good music era. Common, John Legend, the early, the early John Legend. That B album.

[Ian Dunlap]

Album was fire. Yo.

[Rashad Bilal]

Yeah, yeah, save room, all that shout out to Chicago.

[Troy Millings]

But yeah, then he's also. I think he got nominated for a Grammy for his new album with Pete Rock.

[Rashad Bilal]

He did. Yes.

[Troy Millings]

Still putting out music. Still doing it.

[Rashad Bilal]

And he won an Oscar.

[Troy Millings]

Yeah, for sure.

[Rashad Bilal]

So you want to ask her for Selma. The, the sound. The.

[Ian Dunlap]

Yeah, right.

[Rashad Bilal]

The. The song for summer.

[Troy Millings]

Shout out to Common man. So that episode is just a dope epis. We talk about a lot of different stuff in that episode. So that comes out 6:00 on Thursday. And yeah, tap in, tap in with that for sure.

[Ian Dunlap]

What was the biggest lesson you took from or one of, because I don't want to bury the lead, but one of the gems you took away from the interview so that they check in and tune out, tune into it on.

[Troy Millings]

Thursday, just his ability to reinvent himself, stay relevant over the, over the years. And you know, that was something that I asked him about and it's not something that he necessarily did on purpose, but he was just saying that, you know, you gotta be open to new ideas. You got to be open to new things that's happening because a lot of people, you know, he came out, I think he came out in like 94.

[Rashad Bilal]

94, 94.

[Troy Millings]

You know, you're looking at, that's, that's 30 years.

[Rashad Bilal]

Nobody, they don't do that.

[Troy Millings]

So very, very few people have that, that longevity. So, you know, it says a lot to be able to withstand the test of times, deal with, you know, from physical selling CDs to streaming music. Being able to adapt not only musically, culturally, you got to be able to adapt business wise as well. So yeah, just his ability to, to be able to adapt and. And his ability to be able to pivot in different genres. So, like, he talked about how he. He made the switch from. From rapping to acting at a certain point. And that's important too, because it's like, you know, you need. You need to diversify because if you're just doing just a one trick pony, that's not gonna. It's not going to be successful long term.

[Rashad Bilal]

It's crazy. I think one of the. The most important things you'll hear it in the interview, but prior to starting the interview is his graciousness. Like, we were talking about the, the music and the way he responded was like, yo, I really appreciate that. I was telling them we took like what B met and at the time how classic that was and how, you know, that stands the test of time. And we spoke to him about his book. Like, that was one of the first books I had read from, from somebody in the hip hop genre. And I was like, it was so dope. I didn't even know that, you know, your mom was a teacher. And he, the way he responded was like, yo, that's really dope that you actually read it. And to hear his graciousness, he talks about the act and he talks about what is meant to him. Even now having the new album with Pete Rocking, I should check it out. It' is really a dope album. He still has that humility, right? So, like everything you ever hear about him, his graciousness, how humble he is, he's really down to earth. Like, you see it in real life and it comes through on the interview. So definitely check it out. It's one of the ones.

[Troy Millings]

Yeah.

[Ian Dunlap]

Yeah, I'm looking forward to it.

[Troy Millings]

Good dude. Good dude. Sure. So check that out. Ian, any. Any announcements?

[Ian Dunlap]

Yeah. Stock club call will be tonight after market Mondays, so join us tonight. I'll be going over how to prompt a little bit for investing. And if you want to get rich from investing in the market, go to Ian invest.com, put in chat what percentages you're up for the year as a result of listening. If I've made you money, please put yes in chat. Let's have an amazing show and I appreciate y'all.

[Rashad Bilal]

Numbers.

[Ian Dunlap]

I get the all Black memo.

[Rashad Bilal]

You know, I mean, numbers on the board. Numbers are definitely on the board.

[Troy Millings]

Disclosure.

[Rashad Bilal]

Yeah. Y'all know how this works, man. This is a disclaimer. Do your own research. Do your own research. Our content is intended to be used and must be used for informational purposes only. It is very important to do your own analysis. Before making any investment based on your own personal circumstances, you should take independent financial advice from professional in connection with or independently research and verify any information that you find on our show and wish to rely upon whether for the purpose of making an investment decision or otherwise. You know how this works. Do the research. Share the research. It's good research. Give credit to the people. Let's make some money together, man. There's nothing better than watching people see their lives change financially. So shout out to everybody. Red Panda. Shout out to everybody in ey University. Some people that starting. We're seeing it more and more people are actually executing and for a while was like information, information, information, information overload. We're seeing execution after execution after execution, which is dope. Let's keep doing it.

[Troy Millings]

Yeah, for sure. So, okay. And yeah, shout out to 19 keys. Check out that debate.

[Ian Dunlap]

Yeah.

[Troy Millings]

I didn't know what happened with Billy Carson.

[Ian Dunlap]

Oh, yeah, he.

[Troy Millings]

Him and him and the brother's name. He had, he had a debate with. Well, not a debate. He had a. He had a. Live with the brother from the nation yesterday and they went over. They dissected the Billy Carson situation. Don't debate if you're not ready to debate. And never underestimate your opponent. That is never. That is a key to life. Because when you reach a certain level, people, they want. They want to take you off of this. And it's like a heavyweight fight. So that's a learning lesson. But he'll be back. I think Billy will be back. But, you know, sometimes we got. Everybody takes an L. Every once in.

[Ian Dunlap]

A while, Billy gonna come back stronger. And y'all better be ready. Y'all better do. He gonna call the Anunnaki and get some Sumerian tablets and the emerald tablets.

[Rashad Bilal]

He gonna put them Jones on you real quick.

[Troy Millings]

Oh, Wesley. Wesley Muhammad. That's the brother's name.

[Rashad Bilal]

I was gonna say.

[Troy Millings]

That's who. That's who. 19 keys. 19 keys and Rusty Muhammad. They, they. They had a conversation yesterday about the Billy Carson situation.

[Rashad Bilal]

Yeah, that was. That was spirited. Shout out to Keys Messi. What up. High level conversations. Go check in.

[Troy Millings]

For sure. For sure. All right, so who. Let's, let's, let's. Okay, where do we want to start? Let's start with. Let's start with tick tock. So tick tock. I think they said that they, they gave them to January 19th lawmakers, Democrats and Republicans. Now they saying that they want Google and Apple to get them off of the app stores by January 19th.

[Rashad Bilal]

Yep.

[Troy Millings]

But there has been several billionaires that have expressed interest in in buying tick tock and especially some that's very close to Donald Trump and rumor has it that they're kind of waiting in the wings for him to be inaugurated so that they can kind of settle this tick tock thing. So I have a long standing belief that I don't think the tick tock will be banned. But what do you think the outcome.

[Ian Dunlap]

Is going to be for senior Trump and everyone who's close to him? It would be insane. I'm not saying that it's going to happen but it would be insane if an American billionaire bought it who was close to him. I, I don't think it would be banned. I don't think the economy can't afford it despite where the stock market may be. So yeah I'm with that long standing belief with you. I don't think they'll end up selling. I think they'll come to an agreement sometime after he is inaugurated.

[Troy Millings]

Tick tock.

[Rashad Bilal]

Okay.

[Ian Dunlap]

It's a hot asset but, but it would be amazing hypothetically if like you guys were in office and let's say the country demonize the asset and I got to buy for 50 cents on a dollar. Thank you. Bottle service every day to the house on the wake up. Thank you.

[Rashad Bilal]

This, this is the part that even today's news with soft link I think we gotta look into that a little bit deeper. Soft bake CEO Master son talked about the hundred billion dollar. Maybe we'll get into a little bit later today. If you look at the investments he made in 2016 one of the biggest vestas he made was in this company called bytedance. You know what they own Tick tock. Tick tock. So you make it. You, you've made an investment already with the in 2016 it was a 50 million dollar investment into the U S economy. Today you announced a hundred billion. So you've upped it 100.

[Ian Dunlap]

Yeah.

[Rashad Bilal]

One of his 200 he did like live just said yeah we're gonna do this.

[Ian Dunlap]

That's a good lesson in that to ask for the upsell when the deal is about to be done.

[Rashad Bilal]

Right, right.

[Caleb Silver]

Public.

[Rashad Bilal]

Yeah I know we agreed to 100 but like now that the camera's on what's up with 200?

[Ian Dunlap]

Yes.

[Rashad Bilal]

Clever it. I used to think that it was going to get banned and and gonna get sold. Seeing that today raises some eyebrows on whether he'll try to hurt an investment for somebody he's doing a deal with presently.

[Ian Dunlap]

Yeah.

[Rashad Bilal]

So I'm up in the Air I'm up in here, I think is something again that the, the Congress is bipartisan on. Right. So they'll try to push something through. It'll probably last for a week or so. And then I think he'll lift it. If there is a ban, he'll figure out a way to lift it. The sale, like I said, there's a lot of moving factors in it. It'll be tough. So I think he comes in and just says, all right, after a week of this, we got an executive order type situation.

[Troy Millings]

Yeah.

[Ian Dunlap]

It's still an app store, so unless it gets taken down, I don't think there's anything to worry about. But if it comes off of Apple's app store, major blow. There may be some issues.

[Rashad Bilal]

Yeah. And then where does all that data go? Like we talk about that being the gold of this, this generation and generations going forward. That's a lot of data.

[Ian Dunlap]

Yeah.

[Rashad Bilal]

Where is it going? Where is it at now?

[Troy Millings]

Yeah, for sure. Okay. Okay. Well, only time will tell. We'll monitor the situation for sure. But yeah, we'll, we'll see. We'll see what happens.

[Rashad Bilal]

So what's your prediction?

[Troy Millings]

About what? Tick tock.

[Rashad Bilal]

Yeah, the stage.

[Troy Millings]

No, I already said I don't think it's gonna get banned as usual. Yeah, I don't think it's gonna get banned like you said. I mean, if anything, they might try to do like it, but as far as a long standing ban, I just don't see a world where tick tock just vanishes. I don't, I don't see that.

[Rashad Bilal]

Yeah.

[Ian Dunlap]

Because the truth is we can't afford the blowback if they decide to take some of our apps out of their app stores.

[Rashad Bilal]

Never hurt.

[Ian Dunlap]

Oh, tremendous. I mean, I know they made my boy Mark go kiss the ring in Mar a Lago, but he had to go fly to Beijing or something real quick.

[Rashad Bilal]

Yeah, I feel like every, every day there's somebody new that's, that's decided that they're going to donate a million every day.

[Troy Millings]

Yeah, sure.

[Ian Dunlap]

Yeah.

[Rashad Bilal]

Here's a mill.

[Ian Dunlap]

Scott, you need to go bring a million.

[Rashad Bilal]

Why they doing the boy like that? Come on, man.

[Troy Millings]

Salute to Tim Scott.

[Ian Dunlap]

Man, these just jokes written by 85South.

[Rashad Bilal]

Who's that?

[Troy Millings]

We're gonna figure it out. Okay, let's talk about Broadcom. Broadcom is a company that is the 13th company to, to reach a trillion dollar valuation, I believe.

[Rashad Bilal]

Incredible.

[Troy Millings]

In the history of the stock market. It was up 25, I think Friday running again today. 10 today. So talk about Broadcom I know that's one of the companies actually. Mike, can we put this screenshot up? Because we, I know you have put that in Eyo University app in September. Let's put this screenshot up to kind of explain. Okay, so talk about that because you talked about this company. So why, what, what's the, what's the, the vibe with Broad, Broadcom.

[Rashad Bilal]

Yeah, we spoke about it a few times. Definitely in September. At the time, I think they were about to report their, their quarter earnings around the infrastructure of AI. We talked about Nvidia. We talk about TSM obviously from a manufacturing standpoint, but inside it, these chips need to run at a high efficiency. And one of those high efficiency producers of equipment is Broadcom. And so if we've seen this happen, right, like we talk about the ecosystem of AI, this is one of those links that is necessary. And so if Nvidia is rising and we saw what they did and I don't know if great is good enough anymore for Nvidia earnings. Right. We see 87 growth and that's not great. We see it happening inside the space. This is the next one in line. They had a ridiculous quarter, I think $87 billion. It was just absolutely. They blew out their earnings. The guidance is until 2027. Right. We talk about companies in, in the stages of where like hey, will they talk about next quarter's guidance or will they talk about next year's? They're talking about their guidance and their roadmap till 2027 which tells you that they are in firm belief of their growth potential. Obviously we've been talking about it. We said put on your watch list. We put some call in EYL University at 170 and the return has been incredible. I think we got up to 300. There's a lot of people who make some calls on that. So shout out to everybody that made money. But this is the type of thing when we talk about the economy around a space, whether it be data centers or whether it be AI. Yes, it's cool to have the company that is leading the charge, which is Nvidia. And that's great. And most people like, well, I'll wait till Nvidia comes down or did I miss the boat on it maybe. Right. But there's things that have to work in order for Nvidia to continue to excel. Broadcom is one of those companies in that chain. It just made two too much sense. And this is why it's leading right now.

[Ian Dunlap]

And one thing that I do love about Broadcom so When a sector takes off and like Nvidia is leading the race, look for the CEOs who are incredibly quiet and the teams that are quiet who are just executing like the stock is up with a hundred and twenty three bucks, 133 bucks in one year for that space. Home run numbers, home run executive management, they just keep their head down, focus, make the products better. You couldn't ask for a better return out of this company and better leadership out of this company. While a lot of other companies kind of fell to the wayside. So they've been incredibly focused and it's definitely paid off for them.

[Rashad Bilal]

Yeah. And it they pay attention to the partnerships and who they're aligning with. Right. So when Apple says that they're going to decide to try to create their own chip or who partner. Right. Procom is right there. Right. So you're talking about a 3 trillion dollar company that says hey we're going to partner with this company that has high efficiency when it comes to to semiconductors. These are the type of things you want to align with. When this future growth is is there and you can see the roadmap and the com. The company believes in it and you have max7 companies partnering with it. This is, these are all the signs you need to see when we talk about catalysts inside of a a position. These are the catalysts.

[Ian Dunlap]

Meanwhile, intel is negative 25 over the same one year period. Babe, boy who's writing on my YouTube, where you at? I see you on the show about eight months, nine months. It's not coming back.

[Rashad Bilal]

Intel, I mean even with the, the the US granted 8 billion has still just been trading I mean under $2021. I told people like look yes, Broadcom is, is important in, in terms of hyper efficiency. Same reason why I talked about Micron and we saw Micron have a great, a great day anticipating having a great quarter. When they report on Wednesday they're in the memory sector. So there's, there's pockets inside of AI that we need to just make sure that we keep on our watch list and look at because it's potential growth that's sitting there. Right. It's trading under I think it was at 110 or 102 earlier this morning. It was at a high of 135 in, in August. There's opportunities. We just got to make sure that we see them.

[Troy Millings]

Yeah, for sure. So and with that being said. So yeah you said I showed the screenshot that was in ey university of the 170 call that was called in September. So I say that to say we are a few weeks away from the book launch of our first novel you deserve to be rich. And it comes out January 15, 1414.

[Rashad Bilal]

Yep.

[Troy Millings]

But what we did last month we did a 48 hour bonus. If you had the pre sale you got the stock option boot camp. And we actually it was, it was a part two that was planned to this all along. So this is the last pre sale push that we'll be making. So we're doing another situation similar to this. So for the next 48 hours Troy and Eyo University after he did the stock option boot camp he actually. It's like a 45 minute video where he actually went over how he looks at stocks from a charts perspective and how he actually uses artificial intelligence. We talked about this a few times on in Chicago and a few other places.

[Ian Dunlap]

Are you gonna give him that breakdown?

[Rashad Bilal]

I mean we got to go back to that in, in that performance and I'll call it performance. There was a company that we talked about that was trading at 400 called for sure. That company is now trading at 475. $447. All from artificial intelligence which gave me the, the plug to it. So I mean it's there.

[Troy Millings]

Yeah. So. So if you so go to you deserve to be rich book.com for the next 48 hours. If you order the pre sale, put your, put your information, your transaction information in and you will get that video for free. So you'll get the video for free where he actually goes over artificial intelligence, how to pick stocks and then how to use charts for the options. So 48 hours and. And we actually are doing a book tour too. So those tickets are on sale now. Same website, you deserve to be rich.com and it'll be five cities. It's gonna be Brooklyn and January 13th. Atlanta, January 14th, January 15th in D.C. january 16th in New Orleans and January 17th in Houston. And the price of a mission is just like a book ticket. So I think the tickets is like 35. So but it's a small room so that they will sell out pretty quickly. So if you're interested in this and we're gonna have special guests at every city that we go to. So you deserve to be richbook.com you can buy the book for the pre order and you can get the AI and the charts now for free. And then you can, if you want to come to the actual in person events in those five different cities then you can get that information there for your tickets. As well.

[Rashad Bilal]

Five cities, five days.

[Troy Millings]

For sure. Sure.

[Ian Dunlap]

And giving an AI blueprint as a bonus is crazy.

[Rashad Bilal]

Yeah.

[Troy Millings]

Making it.

[Ian Dunlap]

Making us a work of art.

[Rashad Bilal]

Yeah. You know what the interesting part is that the AI, it actually starts to create answers in an algorithm from what you. You've prompted it. And so every time you ask questions, it gets smarter and get smarter. So when we did that in October, that was 2022. 2023.

[Ian Dunlap]

3.

[Rashad Bilal]

Yeah, 2023. It's actually gotten better. So the information and the replies have gotten much better. It's way more efficient. Right. Because we. We try to get rid of the errors. So now it's updated. It's updated. I mean, I don't. If you're not using it, if you.

[Troy Millings]

Bought a book, you might want to buy another one because this just for this offer. Actually, I'm sure if you bought the book the first time and you got the stock option boot camp, you. You found tremendous value in it. And the book is tremendously valuable within itself. So. Yeah. There you have it, ladies and gentlemen. That's the deal.

[Rashad Bilal]

That's crazy. We just talking about. Shout out to Joseph. He just put. Congratulations. I was in the Broadcom play. Shout out to you my guy.

[Ian Dunlap]

Get that coin. Yeah.

[Troy Millings]

So. Okay, let's talk about this. What are the year in. What are your year end project price targets for 2025? So next year in.

[Ian Dunlap]

Yeah.

[Troy Millings]

What's the. What's the 2025 year end price? I wanna price target.

[Ian Dunlap]

Yeah. I wanted to like guide them so they can have it in advance. And I know everyone's planning for the new year, so The S P 2025 target is 804.47. Once again, I'll say 804.47. Bitcoin.

[Troy Millings]

You said S P?

[Ian Dunlap]

Yeah. Spy.

[Troy Millings]

Spy.

[Rashad Bilal]

Oh, Spot.

[Troy Millings]

Not. Not the S P as a whole.

[Ian Dunlap]

No, no, no, no.

[Troy Millings]

Yeah.

[Rashad Bilal]

We're in trouble.

[Troy Millings]

6800.

[Ian Dunlap]

Michael Saylor. Gotta call you. The UFO Really? The Martian invasion for real? We gotta talk about them drones.

[Troy Millings]

No, we are Blackout.

[Rashad Bilal]

We know why they're here. Just telling people.

[Ian Dunlap]

Bitcoin. Low end target is 155 967. So Bitcoin 155, 967. My high end target for end of year is 211 885. A lot of things have to go right. But the high end target is 211 885. My NASDAQ target is 30463.75. Nvidia's 21133 and Tesla. I have interview again to 672.05 Elon committed to 18 strong months to being an efficiency expert for the government. Him and Trump are buddy buddy. No tariffs on Tesla to the moon. I know he messed up on the dogecoin last time when he went on snl. He gonna make up for them gains being close to Trump this election for sure. So 672.05 for Tesla.

[Rashad Bilal]

What was the Nvidia?

[Ian Dunlap]

Nvidia 21133211 yeah, we're talking 4 trillion easily. Like listen, the Blackwell chip hasn't come out and I think I know we're going to talk about Quantum. I know y'all been sending the stocks that y'all think are going to run it easy. Trust me, it's not those small companies. Nvidia is going to be vital, a vital accessory to that Quantum race. They won't lead it how they did this AI race but they will be a pivotal part. So yeah they are. They'll definitely get to that 4 trillion mark next year.

[Troy Millings]

So what's, what's everybody's stock for 2025?

[Ian Dunlap]

I haven't found it yet. I'm going to be very honest. I do want to give one for ego reasons but when I was doing my research this weekend, I haven't found one that I think could be the breakout. So give me to next week and I hope I can pinpoint which one it'll be.

[Rashad Bilal]

It's interesting. We and we got a class Thursday. I'm actually going to release my, my five stocks of the year but I think last year two for the past two years it's kind of been, I've been going back and forth between Amazon and TSM. I will say that TSM is in my 5 for sure for a couple of reasons. If you read the Wall Street Journal this weekend, you they actually have built the first fab in Arizona. It will be, I think they've, they'll be online late 26th, early 27. That's encouraging. And then when we talked about Blackwell, I also told you about Reuben, which is the chip for 2026 that is starting to begin production. TS there's another couple reasons I'm gonna tell it in the class but yeah, TSM is definitely in my top five for sure and it was last year. So that's one of them.

[Ian Dunlap]

Rashad, what about you?

[Troy Millings]

I think it's the year. I think it's the year of bitcoin. I think it's the year of bitcoin. So I Think bitcoin for sure is going to go up like you said. I agree with your number, I think, I mean, it could hit 250. 250 for sure. In a perfect scenario. In a perfect. If all. But that's 150 definitely for sure. I think it's very realistic. For sure. 150. And I mean, if you look at 150, that's 50 gain, right?

[Ian Dunlap]

So, yeah, that's a couple month run, I think.

[Troy Millings]

I think it's the year of bitcoin, which would help. Micro strategy. I think this micro strategy thing is going. They just got added to the NASDAQ 100 and he's kind of positioned himself as. Bitcoin doesn't have a face because nobody knows who Shytoshi Nakatoto is. So some do.

[Ian Dunlap]

But Scottie Pippen knew facts.

[Troy Millings]

He's positioning himself as the voice of bitcoin. That's, that's, that's a powerful position to be in. And I don't know, there might be no limit to how like MicroStrategy, what he, how he's positioned his company outside of government regulation, which I don't see that happening, is as long as bitcoin continues to go up, MicroStrategy is going to continue to go up even higher than Bitcoin. So, yeah, maybe you could talk about an option play for that on Thursday. But the MicroStrategy play is going. MicroStrategy, I think they're going to have a great year because I just think bitcoin goes up, microstrategy goes up along with a few other companies as well. But Michael Saylor, he's not stopping. He's, he's doing every media run possible. If you look at his Instagram, it's interesting. It's like a meme page. Almost like he got stuff on cartoons. It's like a meme page. That's a fact. That's a fact. He's pumping it, he's pumping it as hard as he possibly can. So we go, we're gonna, we're gonna, we're gonna see. But bitcoin, like, I added some more position under. I think anything under a hundred thousand you got to be bullish on because it already reached 100. So you know that it's going to get back to that now. It's way over. It's over that now. Yeah, probably the next, the next break point is 120. But I think, I think bitcoin Trump, he's gonna, he's just gonna do everything he possibly can to Ensure that this, this thing is here to stay and a lot of people gonna make a lot of money. If you're in bitcoin.

[Rashad Bilal]

I think that's a great call. He has, he's made a great case as to why would go. I watched, I've been watching Michael for the past like three weeks and every time he gets has an interview he just doubles down and, and I'm like, wow, this is, this is an impressive case. Now the case that he made earlier today which was really interesting was the catalyst event. Right. Like we always talk about catalysts in stocks, but what is it really inside of the crypto space, specifically bitcoin. And he was like the need from the United States to have a security backed stablecoin. And he was like if that can happen. We're not, we're talking about this is 250. That's you talk about best case scenario.

[Ian Dunlap]

That'S gonna be a floor. Yeah.

[Rashad Bilal]

I mean because if you look at it now like tether has become that but it's not really backed by the US if they can figure out and if you have a pro crypto president and administration, if they can figure out have one that is backed by United States, you'll start to see the United States buy more and then you start to see worldwide. Right. When we talk about the US dollar and how China is not going to use it or we talk about bricks. If you can get a US backed security in the crypto space. I mean.

[Ian Dunlap]

And as investors I think the great lesson is to hoard every asset and have a hedge for your competitor's hed. So if they're forming bricks, if we can find a way to make America the crypto capital when we originally were not well played. The interesting part about Trump in these interviews we have to see once inauguration happens, I'll see you guys there. But he's been there front row. Me, you and Tim's go with Tim gonna be in the back. No pun intended. Just jokes, just jokes. But Trump has been very calm and if he can keep this energy post January into February, the market is going to take off. I haven't seen him calmer. He hasn't been on his tweet storm like Meek Mill how he did last presidency. So I think the people that surrounded him have him a lot more focused and I think he realizes what's at stake for the country and if he can get us out of one of these wars, if we can in that Ukraine, Russia conflict, that would be an incredible sign for the economy, for the market as well.

[Troy Millings]

And Tesla. Yeah, Tesla's going to keep going up too.

[Ian Dunlap]

Absolutely.

[Troy Millings]

He hasn't left. He hasn't left Trump yet. Like, they've got the army and Navy game together.

[Ian Dunlap]

It's a good lesson. Power relationships and networking. Everything you guys have been saying. But if you, okay, if you're next to the king, why would you leave to go back to hq?

[Troy Millings]

But it's also a lesson for like, people that's trying to like, all right, he's the richest person in the world, right? And he has, I think he has 10 kids. Four different. So it's like he's, he's not with his family to be with Trump. He spent Thanksgiving with Trump. He's. He, he has been with Trump.

[Rashad Bilal]

I think he brought the family, though.

[Troy Millings]

He sent with Trump probably more. More than he's been with his family.

[Ian Dunlap]

How would have been with Kamala if she would have won? Shout out to the Queen. But we tried to get y'all to play.

[Troy Millings]

But it's paid off on. It's paid off for him. I mean, sometimes you gotta make short term sacrifices for long term gains. So say it again. It's a fact. And if, if you're with somebody that can't understand that the, your, the best thing that you should do is leave.

[Ian Dunlap]

Gotta let him go.

[Troy Millings]

This is the richest person in the world. You think, like he's making sacrifices to get a hundred billion dollars. Is it worth it?

[Rashad Bilal]

I don't know. Is it? Yeah. You have two. Here's the thing. Here's the thing. No, here's why, here's why I'm with.

[Ian Dunlap]

Pack the bags.

[Rashad Bilal]

Here's what I'm asking. Right? At 270 million or 270 billion, which you were at prior to all this.

[Ian Dunlap]

Yeah.

[Rashad Bilal]

Now you have 400. What, what changes for you? Even if you have a trip, what changes for you?

[Ian Dunlap]

Can we be very honest?

[Troy Millings]

Power.

[Rashad Bilal]

You're already the richest man in the world.

[Troy Millings]

It's power levels of power.

[Rashad Bilal]

You've accumulated it.

[Ian Dunlap]

He's trying to catch up to the Saudis while America is falling. Like, I give Elon a lot of flack. The one thing I will give him credit for, he has built enough companies in America to help drive up the GDP of America. And if we're going to be very honest, this is the part about generation of wealth people don't want to see. Generational wealth is not 2 or 3 million.

[Rashad Bilal]

No.

[Ian Dunlap]

People gonna say, yo, he has enough. I get that he's looking at Saudi Aramico, their family.

[Rashad Bilal]

From that standpoint, I'M saying monetary, that's one thing, but you. You have the pieces on the puzzle board already prior to all this, right? Like, you had all those companies prior to this, right? Like, start.

[Ian Dunlap]

That's what the valuation goes higher being.

[Rashad Bilal]

I mean, yeah, the valuation of. It's going to go higher, but you already have the pieces in place. I guess now it's just like, policy.

[Troy Millings]

Power has no end. It's just like Alexander the Great, like, when they was like, yo, all right, how much more you want to take? He's like, keep going. So when you reach a certain point, it's not about money, it's about power. And you can never have enough power. So it's like, all right, he's a powerful person. He's trying to become the most powerful person in the history of the world. He has. He's not there yet. So it's like, I need. But he has. He has a trajectory. He's moving very quickly into that world. So as he's looking, he's probably looking at this, like, damn, this. This opportunity that's in front of me right now, I might never have this opportunity again. Like, he's literally right next to the President of the United States and he's positioning himself and all his companies and his startup companies that he's invested in. And I mean, the dynasty that he. That he's curating is legend.

[Ian Dunlap]

Open AI from him, if we're gonna be honest.

[Rashad Bilal]

That's a. That's a whole nother, by the way.

[Troy Millings]

I think that Elon's a piece of. By the way.

[Rashad Bilal]

But does that make. Does that make the Pres. The President elect, the most powerful person in the world, then? I'm asking. I'm just asking.

[Troy Millings]

He's one of the most powerful people.

[Ian Dunlap]

One of.

[Troy Millings]

One of. For sure. Yeah.

[Rashad Bilal]

But even Alexander, right? Like, that rain came to an end.

[Troy Millings]

Everybody's rain gonna come to an end.

[Rashad Bilal]

But you said power has no end.

[Troy Millings]

But you chase it. That's. It's a game. It's a game. It's all a game. It's all a game.

[Ian Dunlap]

It goes back to the medicine. Power. Power to protect the money.

[Troy Millings]

Game of Thrones. Yeah, it's a game of Thrones.

[Rashad Bilal]

Yeah. But even those have finales.

[Troy Millings]

But it's not for everybody. Game's not for everybody. So if Most people. Most. 99.9. 9.9 of the people is never gonna even aspire. They don't want to aspire to that. They wanna. But that 0.1% of the population that actually do think like that they wired differently. This dude is trying to take over universes. He's trying. He's trying to colonize Mars. If you have in your brain the idea to colonize a planet that we. You got to think, you got to be a different type of person.

[Ian Dunlap]

Absolutely.

[Troy Millings]

And he, like I said, I mean, as far as stuff that he says, I don't agree with anything that he says, but I do respect the fact that he's probably one of the most smartest people that's ever walked the earth. And what he's been able to accomplish, nobody else in human history has ever has. Yeah, he's accomplished things that nobody else in human history has ever been able to accomplish. That's. That's almost impossible. That's a rare. That's a rare type of person.

[Rashad Bilal]

Somebody catching.

[Ian Dunlap]

If it's more likable.

[Rashad Bilal]

Yeah. Can somebody catch him?

[Ian Dunlap]

No, no, not in this era.

[Troy Millings]

And because he's too. He's too diversified.

[Rashad Bilal]

Who's the closest?

[Troy Millings]

Nobody.

[Ian Dunlap]

I'm gonna be real, bro. Elon is probably four or five times better than Steve Jobs.

[Troy Millings]

You gotta have government. His biggest threat.

[Ian Dunlap]

Yeah. You need governmental power to catch him.

[Troy Millings]

That's the only people that he hasn't talked about. That's the only, that's the only threat is China. If China collectively tries to take him off of this, like, that's his biggest threat. Nope, no individual person. It's going to take a billion people or quietly.

[Rashad Bilal]

And it's. I mean, this is the time that we live in. Like, Zuck is at 220 billion.

[Troy Millings]

Yeah, but it's different, you know, like.

[Rashad Bilal]

Like we're not even talking about that like this. No, I'm just saying in terms of wealth, right, this dude is at 220 billion, but we're talking Basil's at 279.

[Troy Millings]

Well, that's why I said like, like, but when I said 100 million, like a million is like the new hundred thousand. 100 million. Like the new 10 million. People didn't understand that because it's just like there was no trillion dollar companies. Now there's 13 trillion dollar companies. There will be no, there's no trillionaires in the next 10 years. In the next 10 years, there's gonna be at least 10 trillionaires. So the value of money is just getting devalued so quickly. But these guys have a lot of money, but they don't have the infrastructure or the power that he has. When you control 70 of the satellites in the world.

[Ian Dunlap]

Yeah, you.

[Troy Millings]

He controls space. That's crazy.

[Ian Dunlap]

Yeah.

[Troy Millings]

Crazy as hell that he controls.

[Ian Dunlap]

He was the market maker for EV to work. It is gonna have an army.

[Troy Millings]

Army of robots.

[Rashad Bilal]

Who has the most data out of those guys?

[Troy Millings]

Google too.

[Rashad Bilal]

Well, Zuck has more because he has more users.

[Ian Dunlap]

Yeah. And with the acquisition of WhatsApp. But, but you're gonna argue Elon did Zuck's job of infiltrating and taking better. He didn't found Tesla, but he took it to another level.

[Rashad Bilal]

Yeah.

[Ian Dunlap]

Starling, I keep. I think it's probably the best and most important startup in America.

[Rashad Bilal]

They're buying back private shares already and he's.

[Troy Millings]

And he don't have the political clout. Zuckerberg doesn't have the political clout that Elon has. At least for the next four years.

[Rashad Bilal]

He's younger.

[Troy Millings]

No, no, I'm just saying for the next four.

[Rashad Bilal]

Four years. Yeah.

[Troy Millings]

Zuckerberg got to give a million dollars to the inauguration because he's trying to get into the. They even said like when he went to go have dinner with Trump, Trump was like, if I lost, would you be here? Like Trump, like, hello. They don't have the political cliche that, that Elon has a green light to do whatever he wants.

[Rashad Bilal]

And that's for the next four.

[Troy Millings]

Four years. A long time.

[Rashad Bilal]

That's what I'm saying. So. But I'm talking about for real. But the future projection of that. Right.

[Troy Millings]

Like four years can set you up for life.

[Rashad Bilal]

Yeah, I mean he's already set for life in terms of like.

[Troy Millings]

No, no. I mean control the world except for life. Control.

[Rashad Bilal]

Can he control the world in the next four years?

[Troy Millings]

Yeah.

[Ian Dunlap]

Think about this though. If Sam wouldn't have him pause out of open AI, Elon would probably be under Rockefeller's 1B.

[Troy Millings]

He's gonna be.

[Rashad Bilal]

That's an important.

[Troy Millings]

He's gonna be over Rockefeller. He's gonna be over Rockefeller.

[Rashad Bilal]

Just hit. They just hit.

[Troy Millings]

It's gonna be tough.

[Rashad Bilal]

300 because the government regulation.

[Troy Millings]

Startup company. Look, that's what I'm saying. He get. He. For the next four years he gonna bring all these companies. Government regulation means nothing to him for four years. He gotta get out of jail free car for four years. That's why he's not sleeping. He's like, yo, this is. I'm up. I'm up. I'm with you. Anywhere you go, I'm with you. Think about what you can do in four years. You got Nora, Link, you got. You got Starlink, you got.

[Ian Dunlap]

Still got the boring company.

[Rashad Bilal]

That's all the same. SpaceX is on the no space starlink. Starlink is under SpaceX.

[Troy Millings]

But I'm saying as far as the government contracts and all that stuff. Oh yeah, he's going to be able to maneuver himself.

[Rashad Bilal]

Yeah, that's why I said policy.

[Troy Millings]

Not just in America.

[Rashad Bilal]

Yeah.

[Troy Millings]

He's going to be able to maneuver himself globally in the world to, to control a lot of different sectors. Like he's going to be able to control a lot of different sectors. You start putting chips in people's brains. Globally.

[Ian Dunlap]

Yep. And you send them little robots over to fight that war. I'm talking that stock alone, Starlink gonna be worth 280 to 400 easily.

[Rashad Bilal]

I think the valuation for SpaceX right now they were talking about the buyback of shares at 185, which would give it a 350 billion dollar valuation.

[Troy Millings]

People, even, even Tesla people, it is so bullish on Tesla because of Elon. That's the only publicly Trump company that they can actually invest in. So it's like the next best thing to invest in his own. They're so bullish on Elon that Tesla's a no brainer. It's like this is why the stock represents the, the confidence.

[Ian Dunlap]

Yeah.

[Rashad Bilal]

There's no fundamentals. Like this isn't a car play. This is not like Elon Musk Tech company play.

[Troy Millings]

And he's going to bring at least four companies public in the next.

[Ian Dunlap]

Oh yeah, yeah. For sure. Stalin. SpaceX to 26 get. Maybe even boring company. Cool. Close it out. Neural link. Cool. Power of relationship. I know a lot of y'all keep asking why y'all keep doing shows and diversifying. And I know y'all get criticized for interviewing celebrities. This is why Davis Sachs got a position in the White House. Czar doing the same thing. Made his own position South Sax. I'm not mad at you for doing it. Eli made up his own title.

[Rashad Bilal]

Yeah. Y'all saw Chris Rock on snl.

[Ian Dunlap]

That was crazy.

[Rashad Bilal]

You say the wealthiest man in the world is African American.

[Ian Dunlap]

Crazy.

[Troy Millings]

Well, let's talk about quantum computing. Quantum computing. Something that's been getting a lot of attention lately.

[Rashad Bilal]

Yeah.

[Troy Millings]

You know, they said the quantum computers, these things actually will solve in minutes with a regular computer. Takes 1 million years to solve.

[Ian Dunlap]

Yeah.

[Troy Millings]

It's not really at full capacity yet. They said over the next five years, maybe 10 years it'll be like. But you have to keep it in the coldest conditions known to human. And they're complex computers. They pose a, a great risk security because they can crack codes. They could do. They could, they could do pretty much anything. So a lot of people think that that's going to be a, a risk to cryptocurrency.

[Ian Dunlap]

It will be.

[Troy Millings]

Especially bitcoin. Because bitcoin, it's not like they have like a working in governance that's actually updating cyber security on nobody even, you know, it's a little harder than like say Ethereum, more centralized COIN where they can, you know, adapt with the times a little quicker. So how will this affect bitcoin and cryptocurrency?

[Rashad Bilal]

Short term or long term?

[Troy Millings]

No, short term is not gonna have an effect, but long term.

[Ian Dunlap]

I think I first mentioned Quantum on the show maybe three years ago. Two and a half years ago you did Next biggest space. It's gonna be really interesting though what I will say about that Google quantum chip. I scoured the Internet high and low looking after. I looked at Travis's drama that he had going on and the thing that I didn't see was a demo. So if you have this amazing chip and I'm seeing more videos about Cooking with Kaya than you of this demo, the quantum, I don't believe you. We need more people. Y'all missed out on the AI race the first time. I'm not saying that Google does not have the chip. I would have loved to seen the demo though. Now how will it affect bitcoin? I think at some point there may be some attacks, but I think they'll also. Whoever runs the quantum space will end up providing cyber security for them. So if I have the ability to break into your safe, why not hire me a security for your safe to help you kind of keep some of these things encrypted. So. But I do think this sector is going to have a tremendous impact on crypto as a whole, the economy as a whole. It's going to be the next space. It's going to be as hot as AI was the last two years. But I don't, I'm not sold on Google having the solution yet. And I know everybody's asking about Q U B s and the small companies. I'm telling you, a small company is not going to take the lead over in this race because it's probably one of the most important innovations of like the last 80 years.

[Rashad Bilal]

So yeah, I'm with you on that. I think short term it the, the quantum computers, they're just not powerful enough to interrupt Bitcoin. It's interesting. I was with you, I did, I didn't see a demo. So when we talk about one, we're talking about Willow and that that's the computer. And so I had to like, now I got to do the research on it. So now I'm trying to figure out like how does this thing work? And so the word qubits come up. So like if you're doing research on quantum computing, you're going to hear qubits and it just means a quantum bit. So for all y'all, like that grew up playing video games, you remember when it was like 16 bit, 32 bit, 64 bit, that was just the measure of information that can be taken. And so a qubit is that it's the measure of information that could be taken inside of quantum computing. Willow right now is at 105 superconducting qubits. So 105, that's where it's at presently. Currently, the problem with quantum computing, if you read every physicist and every expert, is the error test. Right. It can do things very fast but accurate. The reliability of it is so far off right now in present day, in order for it to have satisfactory error rates, it needs about 1500 qubits. So right now Willow's at 105 to have satisfactory error rates and it needs 1500. For it to have large perform large fault tolerant calculations, it needs between a hundred thousand to one million qubits.

[Ian Dunlap]

Yeah.

[Rashad Bilal]

So when we talk about where are we at in quantum computing, very beginning, which was a breakthrough, is at 105. To have large model, we need about a hundred thousand to a million. So we're kind of out of that. Like I said, as far as bitcoin, not powerful enough yet when it becomes right, because bitcoin isn't going anywhere, Quantum computing isn't going anywhere. Bitcoin, if you understand proof of stake, proof of work, it has the ability to change in terms of forking. And so again doing the research on it, they're already trying to figure out how they can have cryptographic algorithms at are resistant to quantum computing. And so these technologies are working at the same time. They know the issue that's ahead of it. There are already people trying to figure out what is the soft fork that can help be resistance to it. And so that happened like by the time we figured it out, they've been working on it for probably three years already knowing that this is the case going forward for quantum computing and the road that it'll collide with Bitcoin. Because like you said, security and reliability are going to be the two things that be at the forefront of it.

[Ian Dunlap]

It's kind of like when an artist back in the day said I had a Fire album and it's like, well let me hear something. It's like give me nine more months. It's like if it was there they would have had demo day immediately.

[Rashad Bilal]

10 second snippet of the album.

[Troy Millings]

No, I mean most, most people say that it's not ready yet. Yeah, but it will be more money in than, than anybody else. And I even saw a study there was like the scientists like the graduation, the graduate classes for like these type of. The average in America is four students per class and China is 25 students. So they, they, they are pumping billions of dollars into America is too. But they're, they're putting even more resources, talent, human resources into quantum computing and their patience. So when it does happen, they're definitely working hard towards fine tuning it and being the leaders in it.

[Rashad Bilal]

That's, that's the point. It's like quantum computer is not going anywhere. And if we look at it like we looked at AI, then yeah, there'll be companies leaning it, but infrastructure will still be needed. Right. So if you're looking like how do we, what's the play? Like we, like you said, there's people that'll put up like these other quantum computing stocks. Look for the, look for infrastructure. Right, because they need to be housed somewhere. Cooling is very important to it. Who are the companies that are creating those things? Power and energy are going to be important. Like the, the power is ridiculous. Like when you're talking about how fast this works. They said that Willow's complex calculation can create a solve something in five minutes which would normally take a classic supercomputer around 10 septillion years to complete.

[Ian Dunlap]

That sounds good. With no demo, that's ridiculous.

[Rashad Bilal]

So think about the power that's going to take to do that. Think about the infrastructure that needs to be housed to do that. Those are the areas that I would be looking at. If we're talking about five, 10 years when it comes to quantum computing.

[Ian Dunlap]

Yeah, you gotta wait. The land is there, but it hasn't been developed yet. No amazing properties are there yet. So give it time and trust me, like if there's a clear winner in quantum, it's going to be on the news non stop the same way Nvidia was the last two or three years.

[Troy Millings]

We talked about MicroStrategy. So what's your thoughts on MicroStrategy and Palantir being added to the Nasdaq 100.

[Ian Dunlap]

Goodbye. Who left intel on Moderna Fauci Supermicro.

[Rashad Bilal]

11100 Nasdaq 102 well deserved. Not, not the Nasdaq, the Nasdaq 100.

[Ian Dunlap]

Hit the road, Jack.

[Rashad Bilal]

Two different things. Two different things.

[Ian Dunlap]

Yes. Okay. I think they were great additions. I think Palantir is going to be promising even though I don't like some of the inner workings of the company. I do like Alex, though. I think Alex is a great CEO. So great additional micro strategy. I think this is really a great. The. The next four years is going to be America versus China. And this goes back to what you were saying earlier. If you can't invest directly in Elon. Michael has positioned himself as a new Cathie woods that is connected to Trump and that is riding that bitcoin and Trump train. So I think it's a great addition. When is the earnings call for MicroStrategy?

[Rashad Bilal]

I'll get it to you right now. One sec.

[Ian Dunlap]

I will. I cannot wait. I'm shutting everything. And listen, if we got a film that day, let's take a little pause break because I need to hear if these profit margins have changed as a result. So that'd be like.

[Rashad Bilal]

Like the Super Bowl. We just sit there.

[Ian Dunlap]

Absolutely. But great additions for sure. And whatever happens in three or four years.

[Troy Millings]

MicroStrategy is not even. It's like. It's like 99-2-4 billion dollars market cap. So it's not a hundred billion dollar company yet. So I mean this is interesting as far as the earnings. Earnings, because does it really matter as far as their core product of selling soft computer software, nobody cares about that. It would have to be looked at as far as their earnings on bitcoin and that's through the roof.

[Ian Dunlap]

True. Why not fire sell all the products then to another company and just go full investment there?

[Troy Millings]

Maybe. Maybe that's what they'll do.

[Ian Dunlap]

Maybe. Yeah.

[Troy Millings]

Oh no, huh?

[Ian Dunlap]

We will monitor. Michael. I've learned too as an investor that end up broadcasting never attacked. I did it on the first episode with Forex. Right. Never attack an asset. But when some things change in 26 or 27, don't say I didn't tell you. Also monitor how much Elon and Tesla's buying.

[Rashad Bilal]

Yeah.

[Troy Millings]

How much they're buying of what?

[Ian Dunlap]

Bitcoin.

[Troy Millings]

He bought a bunch a while ago.

[Ian Dunlap]

A while ago?

[Rashad Bilal]

Yeah. Sailor just bought 15,000. Micro Strategy bought 15,000 more at. When they hit a hundred thousand, they're sitting right at 100. That's sitting at 99 and a half billion. So they're right at the 100 billion mark.

[Troy Millings]

Right. He's gonna. He's gonna keep buying bitcoin.

[Rashad Bilal]

Yeah.

[Troy Millings]

All the time. And as he keeps buying bitcoin, he helps. He just adds his more and more to his position, which makes him a whale in a space. Which adds to the value of bitcoin, which adds to the value of his company.

[Rashad Bilal]

Yeah.

[Troy Millings]

So it's not really in his interest to have us not. It don't matter where all time highs. He's going to keep buying it.

[Ian Dunlap]

Yeah. Because it's really a spread trade against this company anyway. Because the bitcoin average quarterly return is outpacing what MicroStrategy's yearly returns were. So it's doing. It's a win. It's a win for him across the board.

[Rashad Bilal]

It's doing 29 a year. That's the average.

[Ian Dunlap]

Easily it's 140 this year. Home run.

[Rashad Bilal]

So yeah, he was. He was on. I believe it was CNBC earlier just today.

[Ian Dunlap]

Yeah.

[Rashad Bilal]

Like you. You show me the asset that can get you that.

[Troy Millings]

Are you gonna keep moving? You're gonna keep doing it? 00 or a million. That's the first. It's going to reach one of those first.

[Rashad Bilal]

Yeah.

[Troy Millings]

Because at the end of the day the only thing that can make it, it's either going to be a. The biggest Ponzi scheme in the history of the world or it's the unstoppable asset. So the odds is that it's an unstoppable asset.

[Rashad Bilal]

Yeah.

[Troy Millings]

I guess the only for the pessimists, they. They have questions like who's. Who is Shytoshi Nakamoto? Like that's a story that's. Nobody really ever has answered. And that's dangerous because if. If it does come out that he is a government entity or you lose trust and this all thing, this whole thing is based on trust.

[Ian Dunlap]

So you know what? I'm gonna be real not to cut you off. It's part of my apologies. But I don't even think people care. Like Langley. Y'all can go ahead and come out and tell them. They don't even give a. No more. Y'all don't care about the centralization no more. None of that. Y'all was talking three years ago.

[Rashad Bilal]

You know, I don't know who Satoshi is, but I know who Larry Fink is. And Larry Fink is the CEO of BlackRock. And BlackRock has the fifth largest holding of Bitcoin. When? Five, six years ago that was not the case. And so if we follow the money and we follow the largest asset allocation managers in the world, their Belief is that it's going toward a million, not zero.

[Ian Dunlap]

Yep.

[Troy Millings]

Potentially.

[Rashad Bilal]

Potentially.

[Troy Millings]

Or they could be propping it up, and that could be the biggest rug pull of all time. Hypothetically speaking, for my conspiracy theorists out there, anything is possible. Not saying that that's the case, but.

[Ian Dunlap]

Just, you know, it won't go to zero because there's too much money on an ECF side to let it go to zero.

[Troy Millings]

So institutional investing, the conspiracy theorists out.

[Rashad Bilal]

There, has anybody checked on Jamie Diamond's opinion on it yet lately?

[Ian Dunlap]

Jamie gonna do what he been doing. He gonna talk about it bad and publicly and keep buying that privately.

[Troy Millings]

Warren Buffett is the one. I think that really. That's.

[Rashad Bilal]

Well, Charlie, rest in peace.

[Troy Millings]

Well, no, Warren Buffett said himself that if you gave him all the bitcoin in the world for 25, he wouldn't take it. That's his famous quote. Because he said it doesn't do any. It doesn't do anything. It serves no purpose. It has no. No farms, no land, doesn't produce any product. So he said, if you gave me every single bitcoin in the world for 25, I would not take it. That's what he said a couple years ago.

[Rashad Bilal]

So shout out to Warren.

[Troy Millings]

He would be interested. He would be an interesting person to actually have.

[Ian Dunlap]

Absolutely.

[Troy Millings]

On market Mondays, because I wonder if he still holds the same. The same view. And, I mean, he's obviously an intelligent person as well, so he's made some mistakes. Everybody has. But I would wonder what he. What he thinks about this, because if he felt that strongly against it, he had to feel that strongly against it for a reason. I wonder if he's starting to change his perspective or if he still feels like if you gave him all the bitcoin in the world for 25, he wouldn't take it.

[Rashad Bilal]

No. I was gonna say just based on, like, reading about him and reading everything he said, I think he's gonna hold firm. He's 90, what, 3 years old? He's not. He's not changing his opinion on it, but it'd be interesting to see what Berkshire does in the event of his passing at some point over the next 10 years, what their stance will be as you get fresher ideas, new people in there.

[Troy Millings]

I mean, you can change your opinion. It's not wrong changing your opinion.

[Rashad Bilal]

Yeah, I. I think. I don't know if he will, but Charlie Munger didn't, and he. He passed away, so. He passed away with that opinion. But it'd be interesting to see.

[Ian Dunlap]

Yeah.

[Rashad Bilal]

It'S.

[Troy Millings]

You Know, the Satoshi Nakamoto question is always going to be a. That's. That's going to be a thing. People like him, they're not going to be able to understand it. They're like, why would I invest in something that is shrouded in a mystery? But like I said, there's. If you look at the vast majority of belief systems that we have as a. As human beings, most of them are shrouded in mysteries.

[Ian Dunlap]

So time out 50.

[Troy Millings]

Where's Billy when you need it?

[Ian Dunlap]

I agree. But emerald tablets, 13th data. Hey, I feel you. I agree, but keep the lights on.

[Troy Millings]

So, yeah, zero a million. But y'all don't think it's gonna go to zero. But it is kind of. You know, it.

[Caleb Silver]

You.

[Troy Millings]

You have to have some level of paranoia in the back of your head, because as this. As this keeps getting more and more valuable, you know, how far you guys think, like, how. How big can it actually grow? As far as. Will it ever actually fulfill his prophecy? If it fulfills his prophecy, then that's going to be a historic.

[Rashad Bilal]

What's the prophecy?

[Troy Millings]

That it overtakes gold?

[Rashad Bilal]

Oh, okay. He said, look, he said by 2040, he has it at 13 million. Michael Saylor. I'm speaking of overtaking dust for that.

[Ian Dunlap]

That's not gonna happen. But if he's on.

[Rashad Bilal]

If you do the calculations by 29, he's is. That's what it'll reach.

[Ian Dunlap]

For most institutions, it would be an uninvestable asset if it. If. Even if it crosses a million. Well, can't do a stock split.

[Troy Millings]

Well, that's what I'm saying. Well, it's like, oh, you. You don't have to buy the whole entire thing. Fractional, you could buy. And. And that's. Even Hill Harper was saying years ago that shitoshis. It would get to a point where, like, nobody. The average person, you look at gold, right? Nobody really looks at gold as, like, a bar of gold. You look at it as an ounce of gold. That's because the bar of gold has gotten so pricey that it's out of realm of possibility for most people. So we don't. We don't price gold like that. We price it in ounces. So his. His thing has always been, like, at some point in time when coin just become so out of the realm, then we're going to price Bitcoin and shytoshis, not the actual price of one particular coin.

[Ian Dunlap]

Yeah. Langley, y'all can. Don't care. Yo. Just come out, tell them y'all made up Satoshi, he and Montana with Kanye working on new album, it'd be okay. They don't even care about the centralization. Even Michael Saylor being the face of it and because like it's a different crypto era, I get it. But when this was first being positioned and poised, it was supposed to be anti the system. Now it is the system.

[Troy Millings]

Yeah, that happened pretty quickly though.

[Ian Dunlap]

Very fast. They was calling me all kind of Rashad, how dare you align yourself with Ian. And he saying that the banks are going to take over. He don't. Okay, here we are, y'all. Pro JP Morgan and pro blackrock now.

[Troy Millings]

Even before the banks took it over. The winklevark twins. Yes. A very few people. It's been, it's been the power structure has been centralized for a while.

[Ian Dunlap]

Yes. Kathy was the first large scale institutional investor who paired this trade with Tesla and they took her home and nobody gave a damn.

[Troy Millings]

Interesting thing about it is that everything around bitcoin has failed. Like I remember Gary Vee was saying that NFTs was. And the NFTs failed. And then most altcoins talk about it. Every altcoin really has failed for the most part, except for like a couple like Ethereum for stuff like that. But to the XRP army. Yeah, handful you got, but they still haven't reached their all time peak. So. And then the mo. The. What was that called? The digital who Meta. Metaverse. That was all this was tied to cryptocurrency. That, that, that's one by the wayside. So the, the ecosystem has not been successful. Yeah, because there's been an ecosystem around Bitcoin. All coins, NFTs, the metaverse, none of that said none of this has been successful. That's why even it gives even more doubt for the critics.

[Rashad Bilal]

The NFTs when based around Ethereum, but it's still crypto.

[Troy Millings]

But yeah, bitcoin. So I know it's like it's tying.

[Rashad Bilal]

The two together, but like it's the mothership, you know the count. They're gonna be like, yo, but it's the mothership. Yeah, yeah, yeah.

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[Rashad Bilal]

Gift card is the perfect gift for that hard to buy for person give the gift of convenience from O'Reilly Auto Parts. Auto parts the dominance that it has on the space.

[Troy Millings]

Yes. Bitcoin is the. Is the sun and then there's a. There's a universe that comes from that. And then so none of this, none of this works out. None of this. Nothing has worked out so far. Not nothing.

[Ian Dunlap]

A lot of thanos Snapchat. I mean that's a chill guy meme that I liked fell apart. I didn't invest in it. But I like the little dog with the chill vibe. Cool. Like it's a lot of none of.

[Troy Millings]

It has worked this whole universe. But I still like bitcoin. I think bitcoin gonna go up. I'm just saying the bitcoin universe, the universe of cryptocurrency has not been. It's been scammed comments.

[Ian Dunlap]

Now Rashad, you're wrong. You don't know to that you say.

[Rashad Bilal]

They stay like I still got my crypto kitty.

[Troy Millings]

What. What. What has the. What has the value? Look at okay if some litecoin something.

[Rashad Bilal]

Goes like it's back expect. Not that.

[Troy Millings]

Yeah that's just some scam to make money. Something goes like this then that. That's negative. Something goes like this is positive. Bitcoin is going like this. That's positive. NFTs is going like that for sure. Real estate value in the metaverse has gone like that.

[Ian Dunlap]

So I mean web3 is in the grave now that we all quit talking about that. You don't understand the utility and the tokenization dog. What okay, what if Web3 was that powerful? You don't think we would use it? Okay.

[Troy Millings]

I mean like I said, I, I believe, I do believe that bitcoin is here to stay. But I mean it's just, it is a little concerning that all the universe, the Marvel universe has has just come and gone.

[Ian Dunlap]

That failed too.

[Rashad Bilal]

And then that's back. That's coming back.

[Troy Millings]

And then they keep doing the same thing over and over again. Like even these venture capital. A lot of these venture capitalists investing in these, in these talk about it.

[Ian Dunlap]

You want to talk about the Ponzi for real? I don't want to ruin her.

[Rashad Bilal]

A two finger point.

[Troy Millings]

That's the real rug pull. That's the Aladdin mug pool.

[Ian Dunlap]

How y'all leave y'all put money in crypto left and went to NFT took that money out, brought the angel investors with y'all into Web three. That failed. And then y'all went back to crypto.

[Troy Millings]

That's what they're doing. The angel investors figured out a way to actually 10x their returns quicker because it's like, okay, if I invest in X, y and Z Co. Now they got to go through the due diligence, they gotta build a company. But if I invest in X, Y and Z, you know, NFT project related to Metaverse, related to whatever. Now all they could do is just as soon as they issue coins, like Chris talked about this, as soon as they issue coins on ICO now they become valuable. Now I have, I have my money back and more in six months. And then I could sell it up it on the public and then just move on to the next project. So it's. I made my money back a lot quicker and a higher return guarantee than I would if I just was invested in just textile companies in, in Argentina. And the venture capital people got. Because none of these. So it's like, why is venture capital jumping so much money in, in an area that's not successful? They're making money. Just nobody. It's just.

[Rashad Bilal]

Ico, initial corner and ipo. They're going to make more money doing it this way because there's less regular. Like you said, there's less regulations. There's. Who. What's the, what's the guard dog on that?

[Troy Millings]

And that's why they all stand close to Trump. Because Trump got you is he's the, he's the wizard of it right now. And he's, he's, he's the man with the, the power. And he had his own coin, right?

[Rashad Bilal]

Did he have his own coin for sure.

[Troy Millings]

Trump, I think.

[Ian Dunlap]

The crazy part is, even though he is the guard dog, his idea for America to buy up the remaining Bitcoin and make it an American asset is actually a brilliant idea.

[Rashad Bilal]

But they said they got to borrow money to do it.

[Ian Dunlap]

Should we borrow money for everything else?

[Rashad Bilal]

Yeah, that's what I was like, nobody gives a. About anything at all.

[Ian Dunlap]

Like, everything we learned about risk control is out the window. Even like some other guy a couple days ago on Instagram was like, yo, you're talking about investing index funds. Isn't that SEC violation? I'm like, Michael Saylor's talking this book on cnbc. You talking to me, bro? Please, if I made you one, please put yes in chat. Oh, to you hedge funds, if you need help, yeah, you can hire me. You don't have to hate. I love you. If you need some high returns, I know a guy who's pretty good at this thing. If you're not, I won't even tell.

[Troy Millings]

Nobody what can happen in 2025 that people might not want to hear when it comes to the markets that the.

[Ian Dunlap]

Back half could be, I wouldn't say disastrous, but I think the back half, maybe August, September could be really rough and that the gains that we're seeing from the post Trump win probably will not stay through all of 2025. Whenever I've always said it, whenever financial and investment advice is at the forefront of SportsCenter, that's when I get worried. I saw people who never talked about crypto start talking about Bitcoin and xrp. I'm like, didn't you, didn't you used to manage only fans models two years ago? Like, wait, what you are XRP xenophyte or whatever you call them? Like, oh, okay, cool. Getting kind of toppy. No pun intended. Okay. So the second half of the year it may be a little bit of trouble. And I think that AI Run starts to cool off that battle between Sam and Elon and maybe we'll talk about on blackout, but rest in peace to that gentleman who died of suicide who whistleblowed on open AI. Very telling, very telling that battle. Elon's wrong about a lot of things. How that was taken from him. Sam, you got to go kiss that ring too. I know you, you know he did you feeling himself too.

[Rashad Bilal]

Yeah.

[Ian Dunlap]

But if you made enemies with me and then I'm right hand man with the president, I'ma start the out your.

[Rashad Bilal]

Ipo, he was the, he was the latest to say that he was going to donate a million dollars. So he did that over there.

[Ian Dunlap]

Donate 25 million.

[Rashad Bilal]

I, I think both points that you made a hundred. I think it's interesting as we approach a rate cut this week, potentially with Drone Powell.

[Ian Dunlap]

Yeah.

[Rashad Bilal]

When you look out for the forecast of 2025, there's not a cut in sight.

[Ian Dunlap]

Scary.

[Rashad Bilal]

There's not a cut in sight. And so when we've been talking about lowering inflation and lowering interest rates, there's no sign of that in 2025, which was something that we, we kind of were looking for and pricing in. In 2024. We thought the first half of the year there would be six and then maybe there's another. So we had some in 2024 and obviously that helped. There's no sign of that in 2025 and there's no sign that to say, hey, what if inflation rises again? Then what?

[Ian Dunlap]

Which I think it will. The cost of everything is higher and take the feelings out of it, like people can't afford as much. Right? People can't afford as much.

[Rashad Bilal]

Yeah. They asked the, the president elect about that. What about the price of eggs coming down? He said, I don't think it will. That's not really how it works. Things don't just don't come down because we want. As soon as people raise prices and people start paying them, they usually keep those prices.

[Ian Dunlap]

And that's for everything. Rent. I mean even looking at the average car part, like I saw a report that the average car price in three years could be a 1100. I was like, what the. For a non luxury car.

[Caleb Silver]

What.

[Ian Dunlap]

How is that sustainable? Debt is incredibly high. Like even seeing all the tech billionaires and multi millionaires go gravel because they have to, that's scary to me.

[Rashad Bilal]

What do you think happens there now? I'm thinking about it. Right. Like as far as the EV market, they, they took out the incentives to have EVs. The inaugural team that's coming in is not really big on evs. But Elon has Tesla. How does, how do you think that plays out?

[Ian Dunlap]

It'd be big on Tesla because Tesla's a technology company, not just solar. Ev, that classification thing. Right. That matters a hell of a lot. But it goes back. I keep saying it, the power relationship, like even making my next like five year plan. Right. A lot of people like, okay, what are you going to do next? And they're thinking linear instead of exponential. But looking at what Kanye did and the leaps and from music to fashion to tech, Elon did the same thing. He just had a cleaner path. And I think you have to look at companies that are not doing traditional things to, to continue to have an edge. Because if you just focused on one, if Elon just solely focused on being a car maker in the EV space, it could be disaster for him if he didn't have Trump. Even in that like going back to the work ethic part, Rashad, she was alluding to and having the right person. It takes time to build these companies. But if he's building all those and Elon's up, like I was listening to. Was it Mark Benioff? No, I think Reid Hoffman. And they were saying he's still going to every company every week with all the lead people and saying what's the number one problem? And he's trying to fix it. That's not because he's bored. Like they know something is coming or could happen that we're not aware of. Like Elon's working as if he's back broke and he just got into Silicon Valley while other people are chilling. Like, you have to look at that.

[Rashad Bilal]

It makes sense when you think about, I don't know, what's kind of in the show notes is like now if you look at all the spaces, one of the ones he's not in is telecommunications, which is why the partnership with T mobile kind of makes sense. Right. It looks on the surface, let me try to solve the world's problems. Like, what are the problems that the world. Right. Like so, like let's, let's eradicate dead zones for cell service. Well, how do I do that? Well, I got satellites in space and if I get carrier that can partner with me, then we can do that. So it. From that standpoint. Yeah. The interesting part will be they think, I think they have a one year exclusive deal with them.

[Ian Dunlap]

Yeah.

[Rashad Bilal]

But after that deals up, you could see like if this works out right now you got the data of maybe Verizon. You get the major carriers in there with you. Now you're talking about data the way that I was kind of alluding to what Zuckerberg has because yeah, people use that app, but they use it on a device. And if I can get everybody who has a device.

[Ian Dunlap]

Ye. And then what's the average age of the Nigerian population got to be? Under 25.

[Rashad Bilal]

I think it's like 30 or 31.

[Troy Millings]

That's like 18, I think.

[Rashad Bilal]

Is it?

[Ian Dunlap]

So let's say it's just sub 26.

[Rashad Bilal]

Yeah.

[Ian Dunlap]

That's a whole. Okay, so now if you have partnerships here that work and then you bring them to Africa because I think maybe in 10, 15 years, I mean, they're already setting up there because that's the next gold rush. Hell, they'll subsidize and give everybody phones in Africa to start with. It's 18.

[Rashad Bilal]

It's 18, bro.

[Ian Dunlap]

You got, you got 35, 40 years of Runway. Then they'll ask y'all, why y'all going to Ghana and building a house.

[Caleb Silver]

What?

[Ian Dunlap]

Everybody's going. The NFL's there, the average age of.

[Rashad Bilal]

The continent, the entire 20.

[Ian Dunlap]

They haven't even got close to a financial uptick yet, let alone a prime.

[Rashad Bilal]

That's crazy.

[Caleb Silver]

What?

[Rashad Bilal]

That's crazy.

[Ian Dunlap]

Don't be surprised like if they bring out the old idea that Chamath had and give everybody a phone on the continent or like now these are major tech wars that are being played.

[Rashad Bilal]

Yeah. And the opportunity is there. Like when you go to. Most people have like a cell phone or. Yeah, I mean that's, that's the way they communicate. It's also the way they bank. It's also the way they trade.

[Ian Dunlap]

The super colonizer play.

[Rashad Bilal]

Let me give you a whole cell phone. Track your data for the rest of your life.

[Ian Dunlap]

For real?

[Rashad Bilal]

Yeah. Use these satellites. They're free.

[Troy Millings]

So what's, what's some. What's like three companies that could lead quantum computing.

[Ian Dunlap]

Google for sure. I don't know if they'll directly invest or have the infrastructure, but I think Microsoft will do what they did in the AI space and they'll invest. That's a way to have exposure. And I think there's going to be a dark horse that nobody sees yet. I'm looking internationally to see and like you alluded to earlier, I think China may end up. We can't afford that, but I think China may be the kickoff in a quantum space and we'll probably have to play catch up. But I'm trying to find one internationally that I think will have great exposure and I've been able to find one yet.

[Rashad Bilal]

I'm looking at1 now. RGTI and for the sole reason that it deals with infrastructure, with manufacturing quantum computers and the hardware for it. Early into my research for it. I'm just letting y'all know now that's on. This is what I'm currently researching. Rgti, rejected company, computer company. It's on the watch list because I'm. Look, that's how I'm viewing things. Yes. This is who's building the infrastructure, who has a central hardware that's needed. It's one of my companies.

[Troy Millings]

You know who invested more money than any of those companies that you named?

[Ian Dunlap]

Who?

[Troy Millings]

IBM.

[Rashad Bilal]

Yeah, they started before Google. It was them.

[Ian Dunlap]

True.

[Rashad Bilal]

Right. They. What was. I forgot the name. Oh my gosh.

[Ian Dunlap]

Watson.

[Rashad Bilal]

Right?

[Ian Dunlap]

Watson. Yeah. Yeah, yep. And I think this is a great lesson too. Even if you don't like a company, you have to still be objective for if they can come back, I don't think they will. But you are right. They have invested a lot in that space.

[Rashad Bilal]

I think they're gonna play a role for sure.

[Troy Millings]

Maybe it's their comeback. Maybe that's what they. That's what they're thinking. That's what they're banking on.

[Ian Dunlap]

If the colonizer play works, if you know the origin of IBM and what they did here and what they tracked overseas before, maybe.

[Troy Millings]

Robin Hood is reportedly exploring sports betting to add to their portfolio of options that they can give to their customers. Is this a smart decision?

[Ian Dunlap]

I'm biased. I'm pro Robin Hood. I'm pro Vlad. I don't care what y'all say. Most of the innovation, if we're gonna be very honest, I've been on Think or Swim when it was with TD Ameritrade going back to 2012, 2013. I never seen innovation come out of this industry as fast. If they have some missteps. Yes. Did they sell data? Yes. Did everybody else sell data and just didn't tell you? Absolutely.

[Rashad Bilal]

They charge you fees?

[Ian Dunlap]

Absolutely. Yes. So do I love the idea. I think one thing they're doing really well for sure is innovating at a faster clip in the financial space. And if you can bet on a order block, that would be really fascinating. Seeing what they showed us at the conference, the futures, I was impressed. If they can add that to sports betting, I would definitely take it over under before of how long Travis gonna keep that girl? Sure.

[Rashad Bilal]

Yeah. I think they. I mean kudos to Vlad. They have a responsive and innovative CEO. So I mean how many times you hear your users have complaints and how many times do you actually see the CEO respond to those. The complaints and updating and making things better based on those complaints? We watch it happen in real time. He's aware of what's happening inside of the world of sports betting. Rather than going to all these other platforms and you're already investing here. He's already made it a gamified situation in terms of the. The ease case on his platform. I felt it was like it was a no brainer. I feel like for him he's taking advantage of the moment.

[Ian Dunlap]

Do I like the. The over sensationalizing of gambling? No. When y'all clip this up, don't say that we hate people that we cool with. But. But I do think it's smart for them to take advantage of it. They love to play Rashad and Troy hate Joe for talking about pride. I'm like damn. Stop bro.

[Rashad Bilal]

Got it.

[Ian Dunlap]

I know the slow news day.

[Troy Millings]

Gotcha.

[Rashad Bilal]

Got it. The bills by four shout out to Joey.

[Ian Dunlap]

But it is interesting to see how big that market has got. And it goes to show if all of the former illegal vices that were available to Americans are now legal, what does that tell you about the state of the economy?

[Rashad Bilal]

More legalization. That's what it tells me.

[Ian Dunlap]

Coming. Need it more.

[Rashad Bilal]

What. What sports gambling has done for New York and New Jersey. Unprecedented.

[Ian Dunlap]

Yeah.

[Rashad Bilal]

And it's only going to get you thinking the casinos that potentially could be Coming to Queens. The casino that could potentially be coming into Manhattan.

[Ian Dunlap]

Yeah. Insane Brian's on the wall and James don't get paid off. All of that. I'm not joking. Nick's cooking. Nick's cooking though. Shout out to the Knicks. Yeah. It's interesting to see.

[Rashad Bilal]

Yeah.

[Ian Dunlap]

Do you think the second half of the decade will be a stronger performing market or do you think it will perform less than the first half of this decade?

[Troy Millings]

I think it's spot investments, not like the whole entire thing. So crypto or particular stocks related to technology or artificial or quantum. Yeah, quantum for sure. It's like the whole entire stock market. Probably not.

[Ian Dunlap]

Yeah.

[Rashad Bilal]

Sector specific. Yeah. I think. I mean technology is always going to lead. I don't think that changes.

[Ian Dunlap]

Yeah.

[Rashad Bilal]

Bitcoin will be the asset that we potentially see it as. I'm interested to see what financials. What happens in that sector as we start to see more and more debt and we. We see more and more spending and we potentially see inflation returning. Industrials financials even. Yeah. It. It could get interesting.

[Ian Dunlap]

All the hedges have become the main investment. Like I'm trying to think of a time maybe you guys can remember and Rashad is using advisor. Well all the. The risk on investments became the primary driver. I can't. I think this is the first time in history where like because bitcoin should be a hedge. And once again no one's talking about the bomb. The bomb market is dead. Life support. No one cares. Crypto's great replacement. Don't get me wrong. But if you were told to do 6048 years ago. Oh your portfolio got crushed holding bonds. Who would have thought? Langley.

[Rashad Bilal]

Langley. The good folks. Agent Starling.

[Ian Dunlap]

Yep.

[Rashad Bilal]

What happened? Remember the. The regional bank story?

[Ian Dunlap]

Just.

[Rashad Bilal]

Nobody even.

[Ian Dunlap]

It's a bunch of little sectors. When you go look at. You're like this is still 50 under and no. No one said a word. Yeah.

[Rashad Bilal]

JP just took over Silver bank.

[Ian Dunlap]

Like quietly.

[Rashad Bilal]

All these little regional banks are just. Clock is ticking. I don't know. We'll see.

[Ian Dunlap]

Yeah.

[Troy Millings]

All right. Now we're going to take a intermission break to bring up our good friend.

[Rashad Bilal]

Friend of the show.

[Troy Millings]

He was with us last week so he's coming back for sure. Caleb Silver, editor in chief of Investopedia. Let's bring Caleb up.

[Rashad Bilal]

Caleb, my good brother.

[Troy Millings]

What's going on?

[Ian Dunlap]

Thank you for being here.

[Caleb Silver]

Thanks for having me guys. Always a pleasure.

[Troy Millings]

For sure man. Thank you so much. So if. Yeah if anybody missed it use with us last week for earn your leisure we did a live tutorial on crypto 101 for beginners. So check that out if you haven't if a lot of great information about cryptocurrency, bitcoin and everything that you need to know. And today we're going to be switching gears and I know you want to talk about some of the hot topics I believe right on this site of year.

[Caleb Silver]

Right? Every year. Investopedia likes to quantify to see what our users were looking for. We got millions of readers coming to us every single day, every single month looking for an answer to something. Could be just a definition, it could be an explanation. It could be a question, how do I invest 10,000 bucks? 401k Roth IRA. So everybody has an individual question. That's the thing about finance. It's super personal. But looking at those over time, aggregating those over time gives us a sense of where our psyches were as investors throughout this incredible year. And for investors, it's been an incredible year. Am I right? We don't get back to back years of plus 25% very often and we don't get these rallies and risk assets like we've had this year every single year. So it's been fun to watch and I'd love to share them. So every year we're looking to see what people are looking for. And it shouldn't be a big surprise that inflation was our top term of 2024. It was on everybody's mind. Not only was it on everybody's mind, even though the growth rate of inflation was slowing, it was the thing that kind of turned the tide in a lot of different ways, especially the election. So people were watching inflation closely. They knew the headline numbers were coming down, and you guys can relate to this, but they didn't feel like they were paying any less for anything. And that's because they weren't. The rate of growth was slowing, but inflation was still prevalent. It's still prevalent today. It will probably be a popular term next year. And then the thing that they were making this decision with among the economic decisions they were making is if they elect President Trump back into office, they're going to get tariffs. So tariffs became a very big theme with our readers throughout the second half of the year, especially as the campaign in the election heated up quite a bit. That was fun and fascinating to watch. And then you it's rare to have a company dominate our top 10, but Nvidia was that company in 2024, arguably in 2023 as well. But the returns from a company like Nvidia that became the story stock. I've been watching you guys every single week. I know you've been talking about it and talking about the other chip makers, but Nvidia was a stock that all of a sudden people were gathering together and having earnings watch parties like regular people. Not people like me and Ian and you guys. But regular folks were getting together and watching the Nvidia earnings reports, listening to every word Jensen Wong had to say. That became a super important story. And then stock split, follow that right behind because Nvidia had that big ten for one stock split, which just shows you the behavior of investors. They know about this company. They hear about a stock split, they know the stock is going to get cheaper. And what do they do? They go and they investigate what it means when a stock splits. We also had 340 other stock splits, including Walmart. But that was on people's minds. And then another one that really got two that got my attention. Bitcoin, for obvious reasons that, you know, was. It was the risky but very profitable asset for a lot of people. And the money line bet guys. This was the first year where the betting polls on the election were actually more accurate than the polls themselves, which have gotten more and more inaccurate over the years. But you could bet on the outcome of the election and polymarkets really kicked it off. But you could do it on Robinhood, you could do it throughout the, throughout Europe. You could do it on multiple sites. This is the year that really came together. And that to me, I think is the beginning of a big trend in betting on just about everything. You can securitize everything and you can bet on everything.

[Rashad Bilal]

Yeah, that's a hell of a list. The one thing that's glaring to me, and it probably was on Your list for 2020 is the word recession. That's. We kept hearing that coming out of 2023 into 2024, the second half of the year or the last quarter, we're going to start to see inflate recession or recessionary environments. Not on your list. What are your thoughts about that?

[Caleb Silver]

Yeah, we ask our readers every two months, what are the things you're most worried about? Give us your top ten concerns. Recession never made it past the top five. What were they worried about? First they were worried about interest rates. Then they had worries about geopolitical concerns because we had the war in Russia and Ukraine, we had the war in the Middle East. Then they were worried about the election. Not necessarily the outcome of the election, but the political chaos that might have ensued if Things went a certain way. We knew that was top of mind for them. And then it became things like the US relations with China. But recession never got to them. They never felt like that was going to happen. Even though that was a big threat. They felt like there were other things that were going to affect their portfolios. But from about June, July on until the rest of the year when it just when the Fed indicated that it would start lowering rates, risk was on big time. And the stock market basically took off and went into high gear and they got very confident. They're as confident as we've seen them in the history of the time. We've been surveying them right now for obvious reasons. Stock markets at all time highs, risk assets at all time highs. The prospect of lower interest rates and less regulation. Green lights, guys.

[Troy Millings]

So what about expectations for 2025?

[Caleb Silver]

Yeah, expectations for 2025. It looks like this. We asked them what do you think the results will be in the stock market over the next six months? And then what do you think they will be going out the next four years? What, what it amounts to is that investors think the next six months are going to be really strong. Short term returns are going to continue to be strong. After that, they are less confident about returns in the market. Now why is that? They're concerned about the national debt, which is something nobody likes to talk about, but the fact that we're just printing more and more money, spending more and more money and if we do have tariffs and we do have tax cuts, one is inflationary and one reduces the amount of revenue that the government is able to keep, they think that will impact their portfolios over time in the long term. But for the short term they're in full Sprint mode right now. And you can just see it in the behavior of individual investors and the markets themselves.

[Ian Dunlap]

When we get to the end of 2025, do you think Nvidia will still be on the top of that list or do you, do you think we'll see another company?

[Caleb Silver]

I think we'll probably see another company, right?

[Ian Dunlap]

Which one?

[Caleb Silver]

20, 2023 and 2024 were the years of the, of the build out for AI. Look at the amazing amount of money that the, the Alphabets, the Amazons, the alp, the apples of the world, Salesforce, everybody is spending on AI. It's a zero sum game. So that favors the chip builders, that favors the equipment builders. Look at Broadcom, look at the other chip makers that are building the infrastructure and the chips that are going to power AI Supercomputing. And it benefits the energy companies. But look at the companies that have done super well just associated with both the AI build out and bitcoin. The microstrategies of the world. Right, the super micros of the world. These are the companies that have now dominated in terms of returns and in terms of investor interest. I think we'll see one of those types of companies at the top of the list or a company like a Palantir, which is in the top 10 now of our investors favorite holdings. We might see a company like that which has got a lot of contracts with the government.

[Rashad Bilal]

Yeah, we, we looked at statistics based obviously knowing the, the outcome of the electric now when election now when, when the Republicans have cleaned the Washington suite. Right. They control the House, they control Senate. We've seen sectors perform really well. The top three being real estate, utilities and energies going into 2025. Knowing the sectors are there ETFs that you're looking at saying like these are the ones that our users should be looking forward to if they're trying to begin in the investing journey.

[Caleb Silver]

Well, here are the top stocks investors would bet on for the next 10 years. See at the top of the list. But then when we ask him what ETF would you buy and hold for the next 10 years? Guess what guys? Investors like running with the herd. Individual investors like running with the herd with everybody else. So they're looking at things like the, you know, VTO, they're looking at the spies, they're looking at the Qs, the total stock market ETF. ETFs they are, we like to crowd together, right. If you see the most crowded trades in 2024, it was the Nvidia trade, right? It was a crypto trade. It was the micro strategies, the super micro computers of the world, the Mag 7 Mag 8 stocks still performing. But when you look at ETFs we like to stick together with the biggest stocks and the biggest indexes. These are the ETFs they would buy and hold. But look at the chip sector. ETF Sox is on there, right? The some of the Bitcoin ETFs had a pretty good year. And think people think that there's going to be a lot of viability in those going forward. So big year for ETFs and guess what, the ETF industry, they're gearing up for the next $10 trillion in assets because there's an ETF for everything right now, but just not enough for that industry. They're going to keep printing ETFs and that should be really interesting to see over the next year to five years.

[Troy Millings]

Yeah, you know, it's interesting as you said, the consumer confidence as far as the deriving that. Ian, you gonna make it?

[Ian Dunlap]

Hopefully.

[Troy Millings]

I was watching, I was watching Jamie Fox and Snoop. They had a clip, he's talking about Trump. He was like, this was like years ago. He's like, they gave me the virus, they tried to give me the virus.

[Caleb Silver]

Just works too hard. That's it true.

[Troy Millings]

But that, you know, connecting the dots, that's what. All right, so they might be bearish on stocks, but I'm wondering how to how the sentiment is around crypto because what one of the things that Mike Novogradz said as far as one of the catalysts that would be good for bitcoin is a rising debt because since it is a hedge against inflation and alternative to the dollar, he thought that gold and bitcoin would benefit from the national debt going up higher. So do you see that optimism for Bitcoin works parallel to pessimism of the stock market?

[Caleb Silver]

I think risk on is what benefits bitcoin in general. I don't think most individual investors make the correlation between a higher national debt, more government spending, more reticence from the biggest buyers of the 10 year US treasury, which is the most widely held asset on the planet, turning into more excitement about Bitcoin. I think the bitcoin crowd, the people that understand it most, really get that the best. But what we have been asking our readers for the past several years is would you consider exposing your portfolio to more cryptocurrencies like bitcoin? What would it take? Well, last year we had the introduction of the spot Bitcoin ETFs that opened the market. We saw what happened to price then. And then we asked them as bitcoin, you know, got near 100,000, would you consider buying bitcoin now? Would you consider having it in your portfolio? Those numbers went from about 9% of our readers to about 25% of our readers. So it just tells you there's a lot of individual investor enthusiasm at bitcoin. But as we learned last week and at the podcast, a lot of people are still learning the basics of it. And when we look at the questions people ask around bitcoin, they're asking things like, first of all, what is. Second of all, how do I buy? Third of all, what's the difference between bitcoin, say and Ripple, Robin Hood or Coinbase? They want to know what it is and they want to know how to buy it. And they want to know which ones to buy. So this tells you there's still a lot of new investors that have no exposure to this. They've been hearing about it for long enough. They've heard their Aunt Jane ask them about it at the Thanksgiving table year after year after year. They haven't done anything about it. Guess what? They're ready to do something about it. And we know the supply is constrained and we know that this government is very bitcoin friendly. So I expect a lot more price increase probably for bitcoin in the near term. We'll see how long that lasts. The other coins is what I'm concerned about because bitcoin, you know, has proven itself to be a real asset that's now a trillion and a half in market cap. The other coins, the meme coins, are the ones people flock to because they think they can make a quick buck. Those are usually ones where the bottom comes out quickly.

[Ian Dunlap]

I'm pretty sure bitcoin to do probably at least 100 return next year. I know you said Nvidia probably won't be on that list for next year. Do you think Nvidia prints sub 100? It's crazy to even say that. But do you think they'll be in the normal range next year of like 40 to 80%?

[Caleb Silver]

And the fact that you say that's normal insane, right?

[Ian Dunlap]

For them.

[Caleb Silver]

That's the crazy part. The crazy thing is that, that, that would actually be normal for us, like a normal return. But the reality is we don't even know. There's so much enthusiasm behind that stock now. A lot of it was it was the only game in town for printing these chips that can power the AI servers and the super centers. Right? They have some competition now. And as I said, it's a zero sum game with, with these companies. So they're going to spend as much as they absolutely need to Nvidia's customers to get the infrastructure they need to control AI the way they want to. I don't see why it doesn't continue to do better. But the fact that this company can grow revenue 100% right, year over year for several years in a row now, how long can that be sustainable? We haven't even seen this Blackwell chip come out. So I have a feeling it could grow revenue and profits again next year meaningfully. And that could translate to a higher stock price, especially with a cheaper stock price given the split. The value is the same. It just appears cheaper. And that's very important for the psyche of individual investors. Price Tag means a lot.

[Rashad Bilal]

There's a word that hopefully is not on the 2025 list, but it's starting to come up in the news when we talk about inflation. And that word is stagflation. Can you break down what that is and why we should be worried about that?

[Caleb Silver]

Yeah, you don't want stagflation. That is not a boring bachelor party with Tom Hanks. That is when both prices are going down and unemployment is rising. The economy is slowing, so you don't want a decrease in prices. At the same time you have a slowing economy and more people going out of work. That is a very bad sign. Usually leads to a recession. Usually it leads to a pretty brutal recession. We want to avoid stagflation, we want to avoid disinflation. And believe it or not, a little inflation is actually good. The average inflation rate is 2.7% a year. You need a little inflation for pricing. Power companies need to be able to raise prices a little bit so they can pay their workers more so we can go spend more money. And that's how the wheel goes round. You don't want stagflation, you don't want disinflation. A little bit Goldilocks. Inflation would be just right.

[Troy Millings]

So what's the, what's the demographics of the people that use investor PD as far as like age? Yeah, well, like that.

[Caleb Silver]

18, 18 to 80. As, as a rapper would say, to 80. No bar. Our demographics are. I would say the Preponderance are about 40 to 45 years old. Right. Mostly male, 65% male. Individual investors who are self directed with $100,000 in assets or more to invest. So this is an engaged investor that has money to put to work and likes doing it.

[Troy Millings]

So okay, that's interesting. Only 9% was invested in crypto. I'm sure artificial intelligence was something that people correlated with investments. Now we hear about quantum computing. Is quantum computing stocks like are people trying to look for quantum computing stocks yet or. They're still not there yet.

[Caleb Silver]

I think that's still fringe for most individual investors. Right. Most individual investors catch up up from time to time with what's going on and they get into popular names. The popular names were Nvidia, MicroStrategy because of the bitcoin of it all. But you know how it is, it's very rare. Like you, you guys trade actively. And Ian, I know you're an active trader and the. Through the, through the club as well. You're making decisions and you're making tactical moves on a semi Regular basis. Not every single day per se, but you do that. Most individual investors, you know what we do? Every two weeks, we put our money into the market. Every two weeks, we put our money into the market. And if you ask a man or woman, what's your allocation, if you change your allocation, most people would be like, I don't even know what you're talking about. So they buy the market, they buy a Target Date Fund, or they buy a VTO or VOO or SPY or the qs, and they just feed that every two weeks. And that is the relentless bid that just keeps this stock market going higher and higher. Ian, Troy, Rashad. There's been dips this year of 2, 3%, but that's it. We have never seen a daily dip beyond 2% that wasn't bought up the next day. Why is that? Yeah, because nobody wants to miss out on this relentless bid higher. And that's why the stock market keeps grinding higher.

[Ian Dunlap]

I know you guys are top 10 terms for the year, but is there one that you think that's going to be incredibly important for next year for everyone to look out for?

[Caleb Silver]

Yeah, I mean, I think bitcoin is going to be on this list again next year, and I think the Moneyline bet is going to be on this list. This is the first year. Sports betting, politics, betting, stock trading, it all kind of mashed together into the same stream. And I think it's just the beginning of the betting of just about everything. This is a betting culture that we live in, right. Especially young men, they love to bet on just about everything. I think the Moneyline bet and all sort of sports betting that molds into stock trading. Think these were distant cousins that used to show up at the same barbecue. Now, I think that they're much closely related. I think we'll see that again. But if we have, if these tariffs come to pass, or even some of them come to pass and they lead to an inflationary environment which could potentially tip towards a recession, I think you'll see those terms popping a lot as well. It's going to be a very interesting year on the geopolitical front with a new administration with some aggressive policies both outward and inward. So we're going to probably get a whole new swath of words, words we haven't even thought of, that we'll probably have to write definitions for how engaged.

[Troy Millings]

Politically our people as far as looking up terms like not just tariffs, but, you know, sanctions or embargo or stuff.

[Caleb Silver]

Like that, like a percent.

[Troy Millings]

That part of it.

[Caleb Silver]

The journey of people coming through Investopedia is fascinating. They may start with a term like inflation, but what they really want to know is, and what they wanted to know going into the election was which president had the highest rate of inflation. Right. What's the average rate of inflation? What does inflation do to a stock portfolio over time? So they wanted. There's an answer. There's a question beyond the question they actually asked to get to us in the first place. Following that reader journey is completely fascinating. So when people look up tariffs, they also look up smoot. They also look like. Look up half tartly. They look up the origins of these tariffs. They look up how many tariffs or the dollar amount of tariffs we have right now, which countries pay the highest, which countries pay the lowest, what products and goods are being exposed to it, and what's the ultimate impact both on their wallets and on their portfolio. So they always want to know something beyond the thing they came in through the side door on. And that's the fascinating thing to watch. That's where we. Why we love looking at these terms of the year.

[Rashad Bilal]

There's a term that I've been speaking about for the past six months, and it's pretty much over the news, and that's data centers. It wasn't on your list, but I'm sure that, I mean, it's going to play a role. Can you talk about the significance of it? We kind of alluded to it a little bit the other night, the role played inside of cryptocurrency, specifically Bitcoin, obviously the role it plays inside of AI. What are your thoughts around people not finding that to be one of the top 10 words or words?

[Caleb Silver]

Yeah, I mean, data center is a, you know, is an. Is a piece of real estate, really. But what is it actually? It's actually a processing center for our data, which is the currency of the 21st century. Used to be, you know, railroads, it used to be telecom, but now it's data. Our data is everything to marketers. Our data is everything for AI. So I was saying on the other night on the, on the UIL Pod, when you're driving across country, you're flying across country and you see those warehouses below, you are all around the airports and all across America right now. Half of those are fulfillment centers bringing us our. Whatever we ordered the next day or that same day from Amazon, Target, Walmart, what have you. The other half are data centers processing those orders and processing AI. When you look at companies like a Blackstone, right, one of the biggest real estate firms in the world. What have they been buying aggressively for the past three to four years? Data centers, warehouses. So they can put more data centers in them across America and across Europe. You basically can't even buy one anymore because they've bought them all up. So data centers is where the processing of this most valuable currency is happening. And I think that is the trend for the next decade beyond.

[Troy Millings]

Okay, so before, before we leave, what you've, you studied the situation, how do you feel about the US Economy in your own personal opinion? Like, do you think that because we're at the top of everything as far as prices when it comes to NASDAQ, S, P500, you know, everything is at an all time high, Bitcoin. Do you think that we're due for a pullback, a recession or we're just going to keep going up?

[Caleb Silver]

I think this, I think we're in this position right now and it's really been for the last decade plus maybe 20 years where there is no moral hazard. Right. Anytime we get into economic choppiness, anytime we get into stock market choppiness, what happens? We get bailed out in some way, shape or form. But who gets the benefit of the bailout? Asset holders, stockholders, property owners. Right. We have a K shaped economy where if you own stocks, if you own your home, if you own a business, if you own real estate, you're doing fine. And anytime it looks like we're on shaky ground, guess what? Somebody floors interest rates, makes money cheap again. They dump money over in the economy like helicopter money that bails out businesses. Sometimes that can be very beneficial. We needed it during the early days of the pandemic. But we never worry about what happens on the other side of that. And I don't know if we ever will, especially with this administration because they're going to do whatever they can to keep this economy humming, or at least the headline numbers humming and the stock market humming. Nobody likes to brag more about the performance of the stock market than the incoming president. Even though presidents don't have a lot to do with the performance of the stock market, I think they're going to not let anything happen that would feel like bad headlines for several months in a row. They gotta, you know, the first two years are about delivering on the promise. The next two years are going to be about trying to get somebody back in office from that party. So I don't feel like we're going to see the top now. I want to also eat a little bit of cr. Last year we did the same Thing. You asked me what I thought my expectations were going to be for the stock market for 2024. And I said good years follow great years. It's rare to have a great year follow a great year. I was wrong. And I wasn't the only one. Every Wall street strategist, and I'm not one of them, was wrong. Every one of them had to raise their targets on the S P 500 because the relentless bit took everything higher. And about 10 profitable, ultra profitable companies that became trillion, 2 trillion, 3 trillion dollar market cap companies just lifted everything up. So I was wrong. We had a great year. After a great year, three in a row would be unbelievable. But anything's possible these days. So I'm not going to make a prediction on the market. But I am going to stay invested, I'm going to stay long and I'm going to keep buying what I think are the best companies and the best ETFs out there. Because I got a long time to go before I stop investing.

[Ian Dunlap]

We're almost halfway through this decade, which is crazy how time flies. What's your biggest lesson that you've learned or relearned in this half decade?

[Caleb Silver]

Yeah, I don't know as much as I think I do, and I got to keep learning. But I also know that I can't time anything. Timing the market is dangerous. My time in the market is super valuable. Ask anybody that looked at their portfolio in June of this year and that's been invested in the stock market and looked at it now there they can't believe the returns. And that's what's happened to me. Time in and time out, stay invested. I do rebalance, right. I do reallocate. When I feel like the economic winds are shifting, I do those things that I've been exposing myself to. Riskier and riskier assets. But not more than 5% of my portfolio. I have been right in doing that and it hasn't taken me any genius thinking to do it. I just kept persistently investing and not doubting the fact that eventually things were going to keep returning to the mean and they did twice as good as that. So I'm going to stay involved, stay in it, but also realize that anything can happen and prepare for the unforeseen. But don't pull out of the market because I think we're headed towards something that's, you know, I haven't seen before. Far.

[Troy Millings]

There you have it. Well, thank you for your time. Thank you so much. Always value your opinion, for sure.

[Caleb Silver]

Thank you for having me, guys. Always a pleasure. Thanks to you all. Have great holidays and thanks for sharing the platform. I appreciate you.

[Rashad Bilal]

Oh, my brother. Appreciate you, brother.

[Ian Dunlap]

See you soon.

[Troy Millings]

Okay. Great job from Caleb.

[Rashad Bilal]

Good dude, man. Good dude. Solid dude, man.

[Ian Dunlap]

One of my favorite people.

[Rashad Bilal]

Yeah, sure. There's a wealth of knowledge, man. All right.

[Troy Millings]

All right.

[Ian Dunlap]

Well, NFTs make a comeback.

[Troy Millings]

I don't know.

[Ian Dunlap]

Now if I see blackrock get into the NFT market, boy, we moving.

[Rashad Bilal]

I'll let you know.

[Troy Millings]

We gotta ask, we gotta ask Gary Vee, John Henry, a few people that was very. NFT advocates, opponents. So maybe, maybe they, maybe they're actually working on something on the underground. Because these things do work in cycles. It's like fashion. Because all coins died, then they came back. Yeah. So maybe, you know, it's gonna have a resurgence and go up 400 maybe, you know, out the blue.

[Ian Dunlap]

Well, Apudgy Penguins are moving. They moving like crazy right now.

[Troy Millings]

Yeah, now it's hard to come back. NFT started to come back. I mean, they're not at prominence level like they were right three years ago.

[Rashad Bilal]

I think the average price was down 97. But some of them. It's still $10,000 to get one of them, them crypto bunnies or whatever kitties or whatever they call. Still a lot. 10,000 a lot.

[Ian Dunlap]

That's crazy. Y'all need to put some NFTs on. Only fans since Rashad told me that they doing a three thousand dollar zoom call. Y'all some freaks, boy. Y'all talking to crypto bunny for three grand. Yo, they said they had the top.

[Rashad Bilal]

The top 10. I'll send it to y'all, y'all. Maybe on black. The top 10 earners on OnlyFans.

[Ian Dunlap]

Yeah, crazy.

[Rashad Bilal]

48.

[Ian Dunlap]

What I'm at. Shout out to y'all who doing and get 115 a year. Oh, you know what I mean?

[Troy Millings]

What do you have more faith in the US dollar or bitcoin?

[Ian Dunlap]

Bitcoin for sure. Just because the. The banks in Vanguard and BlackRock and their own investment are investing more to bitcoin than they are. The US dollar, I think with the value of the dollar since 1920 has dropped what, 98. And if you. Man, I never thought as a kid some of the things that just the cost of things would be where they are now. I keep saying, like in major Cities I'm seeing two bedrooms go for $6,000 at least.

[Troy Millings]

Yeah. It says a lot about the times.

[Rashad Bilal]

That we're in nasty work.

[Ian Dunlap]

Absolutely.

[Troy Millings]

You know, hey, what can you do? You go to. You deserve to be richbook.com for the next 48 hours. We are running a promo for anybody that buys the pre order. The last one that we're doing, you will get access to a video that Troy did a few months ago, talking about how he uses artificial intelligence to pick stock options and charting how to.

[Ian Dunlap]

Actually, that's a crazy but. I don't mean that's a crazy but. Like, that's worth a couple thousand. Like, when he showed that on stage, I was like, wait, what the. You. You was like tom Cruise, a Minority Report.

[Rashad Bilal]

It was. The crazy part is I. Before I went up there, I called you. I'm like, yo, I think I'm gonna give him this today. And he was like. He looked at me like, you sure? I'm like, yeah, yeah. I don't think I've ever heard anybody use it like this. You were like, well, damn. I was like, work of art.

[Ian Dunlap]

Yep.

[Troy Millings]

So let's do it. And then we're going on tour. Book tour. Five, five days, special guests. We go on Houston, we go to New Orleans. We're going to Brooklyn. We're going to Atlanta and dc and dc. We're gonna have a special guest at each city. So tap in, get your tickets to that. Price of admission is the price of a book, so pretty low barrier of entry. And. And, oh, you get a book too. So if you buy a ticket, you. When you come. You get. You get a book. Yeah, so that's like. Yeah, you get a book if you buy a ticket.

[Ian Dunlap]

Yeah.

[Rashad Bilal]

Sign it up for you. Take a picture or two. You know, how's go?

[Ian Dunlap]

That's fire.

[Troy Millings]

It's a lot going on. It's a lot of drones. We talk about that on Blackout, but it's a lot of drone situations. It's a lot. It's a lot that's happening in the world lately, for sure.

[Rashad Bilal]

Yeah, it's a lot. It's a lot.

[Ian Dunlap]

On a personal note, are there any creators that you've seen that have done a great job this year outside of Casa night, or you want to keep that close to the chest? I'm not mad if you do.

[Troy Millings]

Creators. Yeah, he's been speed both. Both of them. Speedy from conflict and speed. The streamer.

[Rashad Bilal]

He won the stream of the year.

[Troy Millings]

They. They doing their numbers. I still don't understand streaming, but I respect it. So of course, cost not of course. It's crazy how. Because when we did invest fest at that point in time, the number one person of the year was Shannon Sharp. And four months later, now Kai Sinap is The number one person in the year. So things. Things can change. Nobody even remembers Cat Million situation anymore.

[Rashad Bilal]

So the. The remnants of that is still.

[Troy Millings]

I mean, yeah, for sure. But I'm just saying that's how quickly things changes.

[Ian Dunlap]

Yeah, yeah.

[Troy Millings]

Shannon Sharp. People don't people. I say, I have to say, people forget the year that Shannon Sharp had. Sharon Sharp had a hell of a year.

[Ian Dunlap]

Hell of a year, bro.

[Rashad Bilal]

He probably would be number one in media, don't you think?

[Troy Millings]

I think cost or not.

[Ian Dunlap]

Mafia thon did it. Yeah.

[Rashad Bilal]

Mafia thon too, was hard. He just. He just came back to streaming yesterday.

[Troy Millings]

He actually changed the whole entire landscape of how artists do things. So Kasana Speed, Shannon Sharp.

[Rashad Bilal]

We gotta give a shout out to our guy, Lethal Shooter. He killing it out here, man.

[Troy Millings]

He's hot.

[Rashad Bilal]

I understand. I understand it.

[Caleb Silver]

Yeah.

[Ian Dunlap]

I understand. Yeah. Gummy Bear, like all the tricks is amazing.

[Rashad Bilal]

Oh, man. I understand it.

[Ian Dunlap]

Gummy bear in a water bottle.

[Rashad Bilal]

That was ridiculous. That might be the most ridiculous off one foot backwards, sitting down.

[Troy Millings]

Oh. But you also gotta give a shout out to our guy that we had at Invest Fest that we interviewed also who gave us the. The sneak peek of what he was going to do, Stephen A. Smith. And he told us this months ago that he was going to be up for his new contract. We talked about like. And then. So now they talk about 120 million contract. So shout out to Stephen Riding was on the wall. He's doing his numbers. He's doing his numbers. A lot of people that, you know, he putting up numbers that's doing good out there. But those are some of the top people that kind of change the game. Trusky. Like I said, Drew Ski, he's changing the game from comedy standpoint.

[Ian Dunlap]

Next year. How big you think the numbers would.

[Troy Millings]

Be if Kanye did streaming?

[Ian Dunlap]

Yeah.

[Troy Millings]

Oh, it's Kanye Extreme. Like, do you got to be a personality? You got a certain personality to talk for 24 hours or three hours? Like, it's not easy. That's a lot of impromptu stuff. And I was even, because I'm talking to one of one of my friends who's younger, and he's. I'm like, you explain to me this consonant thing. He's like, yo, when I do the Mafia thon, like, they come up with different game ideas. It's like, it's thought out. It's not just getting wing it. But I don't watch it. So I don't. I don't know. I watched it.

[Rashad Bilal]

Shout out to my young boy. These are the thing about Kai, like, these are young kids from the Bronx. So, like, my. One of my students is. Is part of that crew, so.

[Ian Dunlap]

I remember you told me that. Yep.

[Rashad Bilal]

Yeah, Yeah. I text him after Mafia Thon. He was just. I just like, yo, just keep going, bro. Like, I love it. He was actually on my basketball team. But they're. They're innovative. Like, that. That thought process that they have to come up with skits and come up with ideas and have people pull up. I saw a speed say he want to get in contact with Elon. He said at some point he wants to stream from outer space. Yeah, they're just. They're young, they're innovative, and they. They're willing to do whatever. Like, streaming is their life. So, I mean, it is a skill. I watched a few. I saw the Chris Brown. I saw the Kyrie joint. Them dudes are skilled, man. And.

[Ian Dunlap]

Yeah, what.

[Rashad Bilal]

What he's doing and the team that's around him right now. Yo, it's.

[Ian Dunlap]

Why hasn't Netflix thrown a bag of one of them yet?

[Rashad Bilal]

Maybe they have.

[Ian Dunlap]

They haven't announced it. Yeah, because I'm like, that would go perfect with the NFL and the. I mean, I know WWE is a big thing, but. Yeah, two nights a week with Kai.

[Rashad Bilal]

Can you. I could. Could you imagine mafia thon3 being on a streaming plot? Like, it's gonna go crazy.

[Ian Dunlap]

Numbers through the roof.

[Rashad Bilal]

Yeah, it's gonna go crazy.

[Ian Dunlap]

A couple billion added to the market cap.

[Rashad Bilal]

Yeah.

[Troy Millings]

Mafia.

[Ian Dunlap]

So you got to be thinking of 20, 25 diversification.

[Rashad Bilal]

Shout out to Kyle, shout out to.

[Troy Millings]

The Bronx, Shout out to Kai. But, yeah, that's a lot of people that's doing their thing out there in the. In the content space. You know, just see Wheezy and Mandy, they rebranded their situation.

[Rashad Bilal]

Decisions, decisions. Yep.

[Troy Millings]

They got a new. They got a new vibe. Of course. You know, Drink Champ. Shout out to Drink Champ. You know, Nori and DJ Effing. That's the family. Joe Button, he's doing his thing. The Joe Button podcast. Charlemagne still the most powerful person in. In the culture when it comes to media, for sure. That's a fact.

[Ian Dunlap]

So, yeah, and he got show sign in perpetuity, plus one life, you know, plus one.

[Troy Millings]

Hopefully.

[Ian Dunlap]

Hopefully, boy. Hopefully. You missed that cash cow. I gotta put everybody on papers now.

[Troy Millings]

That's a fact. All right.

[Rashad Bilal]

All right, y'all. We be good to each other. Love is love. Share the information. Make some money. Happy birthday, Amy. Shout out to Amy. Happy birthday. And happy birthday to our guy, Jibo. Greg Barnett was his birthday and Paulie. Happy birthday to y'all twins. Touch 50, man. I watched people. I'm like, yo, man, 50 look. They look looking good for 50. Like the rules look good.

[Troy Millings]

Salute to sp2 and kiss. When I was. So I went to the show, shout out to the Locks staff Chic and. And Jadakiss and I went to the show and I was backstage. I was actually on the side of the stage as the show was going on.

[Ian Dunlap]

Jacket tough too, by the way. I mean, I know you, you know.

[Troy Millings]

But appreciate it, appreciate it. So. But I was talking and I was. And I was. I was having conversations with. It was kind of a crazy situation because during the show they like Kiss was like, yo, Rashad, come here. And he. We talked with. That's for off camera conversation. But I was talking to Styles during the show. I'm talking to him and he's like. I'm like, yo. He's like, yo, bro, I'm 50, bro. I can't believe I made it this far, man.

[Rashad Bilal]

Crazy, bro.

[Ian Dunlap]

That was a different person after from what he was from Gangster and the Gentleman.

[Rashad Bilal]

Yeah, that's a fact.

[Troy Millings]

He like, he like, yo, I can't believe. He's like, I can't believe this, bro. He's like, I'm like, yo, bro, like, damn. You like, you would like, you admit mid age, man.

[Rashad Bilal]

Like you like, this is wild.

[Troy Millings]

Damn it. Almost a senior citizen. And he's like, yo, it's just bug the out.

[Rashad Bilal]

That is wild. Like these. We watch these dudes our whole lives.

[Troy Millings]

But shout out to them because like I said, that just shows their longevity to still be able to pack up a show out and have 50 Cent come and Benny the Butcher rock him.

[Rashad Bilal]

How old is Rockham? He gotta be like 56, 60. 60.

[Troy Millings]

If they 50. If they 50.

[Rashad Bilal]

Let me Google.

[Ian Dunlap]

8. At least.

[Troy Millings]

He came out in the 80s. 87, they came out in the 19.

[Rashad Bilal]

86 is actually rocking.

[Troy Millings]

So Rakim gotta be at least, if not 60, close to 60, for sure.

[Rashad Bilal]

Rakim is 56 years old.

[Troy Millings]

That's like Jay Z's age.

[Rashad Bilal]

That's what I'm saying. We don't look at them the same.

[Ian Dunlap]

Like that's his rapper age.

[Troy Millings]

But a lot of them dudes came out young. Like, like, yeah, LL Cool J came out when he was like 14, 15 years old.

[Rashad Bilal]

Yeah, like nowadays these dudes get.

[Troy Millings]

They start at 28 years old or starting eight 30s.

[Rashad Bilal]

Rick Ross in their 30s. Yeah, but two chains. 30s, two chains.

[Troy Millings]

Yeah, yeah, but yeah, 56. Because Jay is like with 55, right?

[Rashad Bilal]

LL is 56.

[Troy Millings]

How old is Jay?

[Rashad Bilal]

I think 54. He might be 56. I think he just has. His birthday was, I think, 56, 55.

[Troy Millings]

He left by, like, 54.

[Ian Dunlap]

That'd be 55. They're in the same 55, 75.

[Rashad Bilal]

He's 68.

[Troy Millings]

And so him and Rakim is the same age now.

[Rashad Bilal]

He just turned 55 December 4th, and Rakim, 56. Yeah, but he. He's turning 57.

[Troy Millings]

They're one year apart. Yeah, that's crazy.

[Ian Dunlap]

Yeah, that's crazy.

[Rashad Bilal]

Yeah. I'm saying him. And we never look at him and LL as the same age because LL came out 86. Jake came out in 96. LL was 16, though. And, like, he's been like. People were asking me, like, yo, do you think LL is true? When he's talking about he's the most important artist in the history of hip hop. That's an argument. But the time frame, one of, though. Yeah, he is, but he is, right. Like, he has an argument for, like, being a solo artist. What he meant to the most important label in hip hop.

[Ian Dunlap]

Longevity.

[Rashad Bilal]

Longevity, Yeah. I mean, he was able to diversify. I mean, super important. But, like, yo, they're the same age, bro. And we look at him like a super old school. But I guess people now look at Jay like, the young boys now. Like, yo, Jay, like, he. Oh, that's for y'all.

[Troy Millings]

Yeah, but shout out to Jojo. Shout out to Mike for the hospitality. I appreciate it. The hospitality. But, yeah, that was a great show that. They had Benny the Butcher. They had Ghostface. He came out.

[Rashad Bilal]

Oh, he wasn't even on the bill.

[Troy Millings]

Ghostface.

[Rashad Bilal]

Yeah, I think he was.

[Troy Millings]

Yeah. 50, I said. I think I said 50 came out.

[Ian Dunlap]

Yeah.

[Troy Millings]

So, man, and I was talking to Style. I'm like, yo, how you get it? He's like, yo, just like any other business, bro. Relationships.

[Rashad Bilal]

So day 50. Shout out to Kiss, man. We got. We gotta. We'll be at the school. I'll probably see him at school on Friday.

[Troy Millings]

Salute to Kiss. You know, I never met Chic. That's weird. It's a weird situation. It's a weird situation. That's crazy because Styles Kiss, you know, we. And even, like, yet, like, at that time, like, he. He just so happened to be at the other side of the stage, so I didn't get a chance.

[Rashad Bilal]

Oh, still, you didn't meet him?

[Troy Millings]

Yeah, I've never met him before. That's crazy.

[Rashad Bilal]

I met him a few times.

[Troy Millings]

It's just weird because I'm like, I've Always kissed out and. But she'd just be chilling.

[Rashad Bilal]

Shout out to Loose.

[Troy Millings]

Oh, academics had a good year too.

[Rashad Bilal]

Oh, yeah, yeah. Act led that whole Drake, that Drake Kendrick thing. Yeah.

[Troy Millings]

And more.

[Rashad Bilal]

Nah, nah, nah, nah. Let's do this, let's do this.

[Ian Dunlap]

Now Glass is more different. Yo, Glasses, though.

[Rashad Bilal]

Shout out to DJ Head.

[Ian Dunlap]

Shout out to dj.

[Rashad Bilal]

We was rocking with. We was rocking with dj. We was working with DJ Head prior to all this. So this. To see this, this year happen for him.

[Troy Millings]

When we first met, DJ had. I don't think he was there. DJ Sus one shot to him. This was.

[Rashad Bilal]

I was there. We went up to the station.

[Troy Millings]

He was there, of course, with Mike.

[Rashad Bilal]

Yeah. So that's a whole nother thing.

[Troy Millings]

We. Yeah, that's when we first met him. Probably 2,000 years ago, something like that.

[Rashad Bilal]

Yeah, like 17.

[Troy Millings]

But he was like, Yo, DJ, I. I think Mike had was like with him, something. I don't know. But that was 10 years ago. So to see his growth from 10 years to now has been. Because he was working a night shift. 2:00 in the morning.

[Rashad Bilal]

Yeah, we was up there. We got to the station, late hours.

[Troy Millings]

Yeah. So shout out. Yeah, shout out to dj. He representing the west coast on another level.

[Rashad Bilal]

He's killing it too. Him and obviously the show. Elliot and Jeremy, they killing it. Then he got the David show, effective immediately. And now, like, I see him popping up on DJ sets everywhere. So as a smart dude, waited, paid his dues, stay true to the coast, and now he's full of integrity. Oh, he's like the General. Now they gotta, you know, I mean, if he don't stamp it, it ain't official. So shout out.

[Ian Dunlap]

Yeah, we gotta get him on blackout.

[Rashad Bilal]

For sure. For sure. Yeah, he's had a hell of a year.

[Troy Millings]

All right, all right, guys, it's been real.

[Rashad Bilal]

Love is love. Peace.

[Ian Dunlap]

Peace.

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[Rashad Bilal]

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