00:00 Speaker A

Tokenized representations of stock are are nothing new and defy yield is also nothing new. We’re just combining these two things, which is a really interesting movement in crypto, uh, using crypto primitives without taking crypto risk and and and allowing that to to accrue value to assets that people believe in like SpaceX.

00:27 Speaker B

What was really interesting was Robin Hood CEO has been pretty vocal about this report saying that its customers move more money through ordinary stocks than the entire tokenized stock market is currently worth. So it seems like there’s still a lot of opportunity, still a lot of road map. So why would an investor choose this route instead of maybe more of the traditional way?

00:54 Speaker A

Yeah, it just offers a a superior asset, right? So we’re able to offer yield on top of of SpaceX or Google or other tokenized stocks, but but we begin with SpaceX because that’s such a high conviction, uh play for us. And if someone’s going to hold the the underlying stock or hold it with a native yield on top of it, you know, compound interest is the strongest force in the universe.

01:23 Speaker B

Right.

01:23 Speaker A

And over time, that the compounding of of that yield is is going to pay, uh, big dividends.

01:31 Speaker B

Walk us through why SpaceX was the first company that you’re sort of jumping in on here.

01:38 Speaker A

Yeah. So we really built dialectic for ourselves to be able to to create compounding and yield on assets that that we believe in. you know, Ethereum, Bitcoin. Uh, SpaceX became early on, uh an asset that we just generally believed in. And uh, and so creating a yield on top of these high conviction assets is at the core of what we do.

02:08 Speaker B

Now, are you worried at all that SpaceX has come down since that high IPO price, since that trillion dollar, the biggest IPO in history, there was so much hype. It’s come back a little bit.

02:20 Speaker A

Uh, it has, but it still represents, I think a generational opportunity. You know, I I think there is a uh an intention by Elon to launch the IPO on the eve of of America’s uh 250th as a gift to America and I think it’ll go down as generational gift. That gift has been given back. Today you can buy SpaceX for effectively the value of the compute business plus the consumer Starlink business and the uh and the launch business. You get all the infinite possibilities of space for free.