Loading video...

Video Failed to Load

Go Home

Reflections after a day on Sora 2: It's a huge step up over the first model from a quality perspective. I'm not sure it's SOTA - but I don't think that matters. This isn't competing with other video models, it's much more of a social app. Beyond Cameos, I...

venturetwins's profile picture

Justine Moore

175,826 subscribers

61,291 views • 10 months ago •via X (Twitter)

Science & Technology
LIVE

Anya Rossi• Live Now

Private livecam show

0 Comments

No comments available

Comments from the original post will appear here

Related Videos

If you go back to Trump's first term and even in the second term, the number of people in the inner circle, it's very volatile. People come, people go. It's kind of like a rotation. You get too close to the sun, your wings melt and you fall out. It's not the end of the free world as we know it. I actually think these two men will get back together again. I know it's salacious, it's really an interesting story, but at the end of the day they both have attributes that the other wants. Elon is a unique individual and Trump is a unique individual. They both have huge egos. They had a bad date. It's like a marriage and they're having a fight. I'm over it already. I think this is noise frankly. I don't think it really matters long-term. They can call each other on their cell phones and work it out and they will.
2:04

If you go back to Trump's first term and even in the second term, the number of people in the inner circle, it's very volatile. People come, people go. It's kind of like a rotation. You get too close to the sun, your wings melt and you fall out. It's not the end of the free world as we know it. I actually think these two men will get back together again. I know it's salacious, it's really an interesting story, but at the end of the day they both have attributes that the other wants. Elon is a unique individual and Trump is a unique individual. They both have huge egos. They had a bad date. It's like a marriage and they're having a fight. I'm over it already. I think this is noise frankly. I don't think it really matters long-term. They can call each other on their cell phones and work it out and they will.

Kevin O'Leary aka Mr. Wonderful

267,461 views • 1 year ago

“Bridgerton: Benedict and Sophie speak about romance rumours in real life” Luke: I think people can think and say what they like. […] I think it's a reflection of the show. I think that's all it is. I think the interest only comes from the fact that you're being presented with an illusion, which is Benedict and Sophie. And so you want to sort of, I don't know, like it's lovely in a way, it's sort of wish fulfillment” +
1:52

“Bridgerton: Benedict and Sophie speak about romance rumours in real life” Luke: I think people can think and say what they like. […] I think it's a reflection of the show. I think that's all it is. I think the interest only comes from the fact that you're being presented with an illusion, which is Benedict and Sophie. And so you want to sort of, I don't know, like it's lovely in a way, it's sort of wish fulfillment” +

malu saw riize! benophie promoter🪁

142,722 views • 5 months ago

As AI models get better, I don't think the next breakthrough is another model. It's having a workspace that remembers the project instead of starting over every time you write a prompt. That's what I like about TapNow Creative OS. It connects the context around the work, which is usually where most of the creative effort actually goes. #TapTV #CreativeOS #TapNow
0:30

As AI models get better, I don't think the next breakthrough is another model. It's having a workspace that remembers the project instead of starting over every time you write a prompt. That's what I like about TapNow Creative OS. It connects the context around the work, which is usually where most of the creative effort actually goes. #TapTV #CreativeOS #TapNow

Maria

33,359 views • 16 days ago

Elon Musk: We have to have free speech in order for civilization to advance. “It's a bigger deal than you'd think. It's the kind of thing that you don't know what you're missing until you don't have it. In a lot of places, people don't have it. It's important to bear in mind that the nature of free speech is, the acid test for it is, are people you don't like allowed to say things that you don't like? Otherwise it's not free. It can't be just be things that you like because eventually somebody's not going to like what you say and they're going to shut you up. That's the essence of free speech. That's why it's the First Amendment in this country. And if we lose that, I think we lose the bedrock of democracy.” From: NBC Universal Marketing Conference, April 18, 2023
1:05

Elon Musk: We have to have free speech in order for civilization to advance. “It's a bigger deal than you'd think. It's the kind of thing that you don't know what you're missing until you don't have it. In a lot of places, people don't have it. It's important to bear in mind that the nature of free speech is, the acid test for it is, are people you don't like allowed to say things that you don't like? Otherwise it's not free. It can't be just be things that you like because eventually somebody's not going to like what you say and they're going to shut you up. That's the essence of free speech. That's why it's the First Amendment in this country. And if we lose that, I think we lose the bedrock of democracy.” From: NBC Universal Marketing Conference, April 18, 2023

ELON CLIPS

33,631 views • 1 year ago

🚨 ELON MUSK: "It's not like, I agree with everything the administration does. I agree with much of what the administration does, but we have differences of opinion, you know, the things that I don't entirely agree with. But it's difficult for me to bring that up in an interview, because then it creates a bone of contention. So then I'm in a little stuck, in a bind where I'm like, Well, I don't want to, you know, speak up against the administration, but I don't want to, you also don't want to take responsibility for everything, the administration is doing."
0:38

🚨 ELON MUSK: "It's not like, I agree with everything the administration does. I agree with much of what the administration does, but we have differences of opinion, you know, the things that I don't entirely agree with. But it's difficult for me to bring that up in an interview, because then it creates a bone of contention. So then I'm in a little stuck, in a bind where I'm like, Well, I don't want to, you know, speak up against the administration, but I don't want to, you also don't want to take responsibility for everything, the administration is doing."

DogeDesigner

98,616 views • 1 year ago

🎥| “Well, for starters, it's not the first time I've heard a story like that, you know, of people kind of being inspired to work in the industry. Um, and I think that's really cool, you know. I've always been a big believer that the more fans that work in the music industry, the better for the music and the better for everyone, really. You know, they're definitely the most passionate people. Um, you know, especially the likes of like managements or record labels, these kind of opinions are vital. [Fan: We live it, like, quite literally.] Absolutely, absolutely, yeah. There's not really, you know, it's not about kind of guessing, it's, like you say, you guys kind of live that life. So, I think it's really, really important, it's really cool that it seems to be happening more and more, um, which I think is great. Um, in terms of the relationship with the fans, something I really, really cherish. it's a really funny thing, you know, when you've grown up together, but that ‘together’ to me is, you know, a decent chunk of people. It's a funny concept to me, really, in general. But I feel very, very lucky to have it, and I feel really—I think I've always felt quite protective over my fans as well, and I think... that is a nature of kind of growing up together, you know? I feel like we've got each other's back like that. [Fan: I feel like you have a unique relationship with your fans that is not common amongst artists today, so we really appreciate that, the effort you put in and the care.] I like to, yeah, I like to think so. I mean, I feel very, very blessed that wherever I am, you know, wherever I am, there's a certain kind of level of support and passion, you know? And that... there's a friend, exactly, that's lovely.” via Jesslyn Downey
2:21

🎥| “Well, for starters, it's not the first time I've heard a story like that, you know, of people kind of being inspired to work in the industry. Um, and I think that's really cool, you know. I've always been a big believer that the more fans that work in the music industry, the better for the music and the better for everyone, really. You know, they're definitely the most passionate people. Um, you know, especially the likes of like managements or record labels, these kind of opinions are vital. [Fan: We live it, like, quite literally.] Absolutely, absolutely, yeah. There's not really, you know, it's not about kind of guessing, it's, like you say, you guys kind of live that life. So, I think it's really, really important, it's really cool that it seems to be happening more and more, um, which I think is great. Um, in terms of the relationship with the fans, something I really, really cherish. it's a really funny thing, you know, when you've grown up together, but that ‘together’ to me is, you know, a decent chunk of people. It's a funny concept to me, really, in general. But I feel very, very lucky to have it, and I feel really—I think I've always felt quite protective over my fans as well, and I think... that is a nature of kind of growing up together, you know? I feel like we've got each other's back like that. [Fan: I feel like you have a unique relationship with your fans that is not common amongst artists today, so we really appreciate that, the effort you put in and the care.] I like to, yeah, I like to think so. I mean, I feel very, very blessed that wherever I am, you know, wherever I am, there's a certain kind of level of support and passion, you know? And that... there's a friend, exactly, that's lovely.” via Jesslyn Downey

World Tomlinson

18,346 views • 20 days ago

Trump: And if you'd like, you can come up and have lunch like you did yesterday. Would you like that or not? Do you want that? Because some of them think it's terrible. It's a bribe. But, you know, a bribe for $25. I don't know. If you'd like. You can go. And if you don't, you can stand in a driveway and melt.
0:41

Trump: And if you'd like, you can come up and have lunch like you did yesterday. Would you like that or not? Do you want that? Because some of them think it's terrible. It's a bribe. But, you know, a bribe for $25. I don't know. If you'd like. You can go. And if you don't, you can stand in a driveway and melt.

Acyn

67,929 views • 7 months ago

Stephen Chow on the reason for the popularity of "Shaolin Soccer" (2001): "Interviewer: Do you think people are drawn to the movie because of the martial arts aspect or because it's a comedy, because soccer [football] is popular, or because of the love story? Chow: All of that. You've given a perfect answer. Some people just like it because it's soccer and some people just like the comedy, and some people like special effect, and some people like the drama. I read a lot of critics in Asia that they think it is not only a comedy but also a drama. And you find I don't know how to say in English—I'm sorry—you just—after you watch a movie, then you—it's some kind of feeling— like a long time ago, after watching a movie, I was full of energy and I just wanted to go learn Kung-fu—you know I kicking and punching, you know. A feeling like that. It's something. Some kind of thing like when you explode. After you watch a movie and you're full of energy and you so confident of yourself and you think you can make it. That you can solve any problems." (Stephen Chow's interview with Kristin Lootens, Premiere, 2007) P.S: On this day, 25 years ago, "Shaolin Soccer" (2001) was released in China.
2:03

Stephen Chow on the reason for the popularity of "Shaolin Soccer" (2001): "Interviewer: Do you think people are drawn to the movie because of the martial arts aspect or because it's a comedy, because soccer [football] is popular, or because of the love story? Chow: All of that. You've given a perfect answer. Some people just like it because it's soccer and some people just like the comedy, and some people like special effect, and some people like the drama. I read a lot of critics in Asia that they think it is not only a comedy but also a drama. And you find I don't know how to say in English—I'm sorry—you just—after you watch a movie, then you—it's some kind of feeling— like a long time ago, after watching a movie, I was full of energy and I just wanted to go learn Kung-fu—you know I kicking and punching, you know. A feeling like that. It's something. Some kind of thing like when you explode. After you watch a movie and you're full of energy and you so confident of yourself and you think you can make it. That you can solve any problems." (Stephen Chow's interview with Kristin Lootens, Premiere, 2007) P.S: On this day, 25 years ago, "Shaolin Soccer" (2001) was released in China.

DepressedBergman

20,192 views • 27 days ago

The co-founders of Flapping Airplanes call the current RL paradigm for model training "environment slop." They explain: "The reinforcement paradigms of today are shockingly inefficient. You don't really get much generalization across tasks, you teach a model through one kind of learning and then you teach it the next one. It's kind of like whack-a-mole. We look at this and think it's kind of crazy. The next paradigm of AI will not be environment slop." "Human level intelligence is not the ceiling, it is merely the floor on what is possible. If you can train models with vastly less data and possibly more compute in very different ways, what is going to happen? We actually don't know. But I do think they'll be different and weird and they'll have interesting capabilities that we'll find really valuable ways to use."
2:40

The co-founders of Flapping Airplanes call the current RL paradigm for model training "environment slop." They explain: "The reinforcement paradigms of today are shockingly inefficient. You don't really get much generalization across tasks, you teach a model through one kind of learning and then you teach it the next one. It's kind of like whack-a-mole. We look at this and think it's kind of crazy. The next paradigm of AI will not be environment slop." "Human level intelligence is not the ceiling, it is merely the floor on what is possible. If you can train models with vastly less data and possibly more compute in very different ways, what is going to happen? We actually don't know. But I do think they'll be different and weird and they'll have interesting capabilities that we'll find really valuable ways to use."

TBPN

85,358 views • 6 months ago

We asked rahul about the global reach of ChatGPT and the emphasis on personality in AI models. "When you want to get to the one to like the remaining 90% of the users, do you want a model that thinks for longer? You want more personality?" "They definitely leaned in on personality, which I think is interesting." "It's kind of different than a (social media) feed in some ways because you have this person you talk to. It's like a relationship and then it just switches up on how it talks to you."
0:50

We asked rahul about the global reach of ChatGPT and the emphasis on personality in AI models. "When you want to get to the one to like the remaining 90% of the users, do you want a model that thinks for longer? You want more personality?" "They definitely leaned in on personality, which I think is interesting." "It's kind of different than a (social media) feed in some ways because you have this person you talk to. It's like a relationship and then it just switches up on how it talks to you."

TBPN

89,226 views • 11 months ago

"It's not so much that I think empathy is wrongly defined. It is the fact that I don't think empathy is a thing. I don't think it's real. It is a substitute for a real Christian morality." From today's edition of The Briefing. You can listen here:
1:40

"It's not so much that I think empathy is wrongly defined. It is the fact that I don't think empathy is a thing. I don't think it's real. It is a substitute for a real Christian morality." From today's edition of The Briefing. You can listen here:

Albert Mohler

143,597 views • 5 months ago

"I actually don't think live like you are dying is very helpful advice. Live like you are living. Live like you got your whole life in front of you, and just be your strongest, healthiest, and best self. Everything that I have told you is just more and more confirmed to me. Try to take over the world. Try to accomplish everything that you can in this life. Use your strength to its greatest ends that you can. Everyone dies. Rich people, wealthy people. Julius Caesar's dead. Alexander the Great is dead. Achilles is dead. My grandpa is dead. It's not that romantic. I'm not that special because I'm dying. It's actually one of the most common, unremarkable facts of life, I have a family that I love very much. I have four wonderful children and a tremendously supportive wife. I have found my vocation in life, my calling. I have loved being a podcaster and speaking to all of you and sharing what I have learned. And so I would just say, don't let death catch you unprepared." – Ben Wilson
1:06

"I actually don't think live like you are dying is very helpful advice. Live like you are living. Live like you got your whole life in front of you, and just be your strongest, healthiest, and best self. Everything that I have told you is just more and more confirmed to me. Try to take over the world. Try to accomplish everything that you can in this life. Use your strength to its greatest ends that you can. Everyone dies. Rich people, wealthy people. Julius Caesar's dead. Alexander the Great is dead. Achilles is dead. My grandpa is dead. It's not that romantic. I'm not that special because I'm dying. It's actually one of the most common, unremarkable facts of life, I have a family that I love very much. I have four wonderful children and a tremendously supportive wife. I have found my vocation in life, my calling. I have loved being a podcaster and speaking to all of you and sharing what I have learned. And so I would just say, don't let death catch you unprepared." – Ben Wilson

Jeff Tang

29,521 views • 28 days ago

🗣️: Is there any comment from a fan that you have never forgotten? 🪽: I think it's just when they say that they kind of love me, for me. They don't expect anything out of me, just hope I'm happy. I'm healthy. Just because it's more like, you know, the world is full of expectations. So it's just nice if you can be yourself. #TaoKaeNoixBecky
0:30

🗣️: Is there any comment from a fan that you have never forgotten? 🪽: I think it's just when they say that they kind of love me, for me. They don't expect anything out of me, just hope I'm happy. I'm healthy. Just because it's more like, you know, the world is full of expectations. So it's just nice if you can be yourself. #TaoKaeNoixBecky

Cham_Cham

11,761 views • 1 month ago

It's official. OpenAI just launched SORA 2... and an entirely new social app. Truthfully... I wanted to hate this. The idea of an endless turbo slop scroller is just… nightmare fuel to me. BUT. The reason I think Sora (the app) might actually just work, is that it’s a multiplayer meme-creation machine. It’s fun. It doesn’t take itself seriously. I think of it like a super advanced evolution of JibJab. The group chats will love it. Now… personally, I'd guess that I will be churning after the novelty fades… but I wouldn’t be surprised if they built some meaningful network effects here. But let’s talk about the model. Sora 2 is an instant Veo 3 alternative. It actually produces better physics, better audio, and deeper realism imo. It can also generate up to 15 seconds of video. Where it falls short is that it’s limited to 720p right now. We can assume 1080p and 4k exist, but the compute cost associated would probably not be economically viable for OpenAI. Okay back to the app. You can create a model after your own likeness, for yourself OR other people to use as a “cameo.” You have control over who and how someone can use your likeness. I’m “rpn24” on the app. If you have access to the app (it’s invite-only for now) – go ahead and create whatever you want using me (for now). I'm not too worried because OpenAI leaned heavily into moderation for launch. Which is probably smart because I expect the media and general public to blast this at first. They’ve also taken further precautions to protect your likeness. You can not export or save a video with someone else's likeness on it, and screen recording is disabled. Also Sora is testing (first I know of its kind) an algorithm you can prompt.
1:46

It's official. OpenAI just launched SORA 2... and an entirely new social app. Truthfully... I wanted to hate this. The idea of an endless turbo slop scroller is just… nightmare fuel to me. BUT. The reason I think Sora (the app) might actually just work, is that it’s a multiplayer meme-creation machine. It’s fun. It doesn’t take itself seriously. I think of it like a super advanced evolution of JibJab. The group chats will love it. Now… personally, I'd guess that I will be churning after the novelty fades… but I wouldn’t be surprised if they built some meaningful network effects here. But let’s talk about the model. Sora 2 is an instant Veo 3 alternative. It actually produces better physics, better audio, and deeper realism imo. It can also generate up to 15 seconds of video. Where it falls short is that it’s limited to 720p right now. We can assume 1080p and 4k exist, but the compute cost associated would probably not be economically viable for OpenAI. Okay back to the app. You can create a model after your own likeness, for yourself OR other people to use as a “cameo.” You have control over who and how someone can use your likeness. I’m “rpn24” on the app. If you have access to the app (it’s invite-only for now) – go ahead and create whatever you want using me (for now). I'm not too worried because OpenAI leaned heavily into moderation for launch. Which is probably smart because I expect the media and general public to blast this at first. They’ve also taken further precautions to protect your likeness. You can not export or save a video with someone else's likeness on it, and screen recording is disabled. Also Sora is testing (first I know of its kind) an algorithm you can prompt.

Roberto Nickson

147,341 views • 10 months ago

NEW The Age of Disclosure director Dan Farah on Bill Maher, Pt I. Maher: "Things have changed... If you don't think this is happening now, I'm not sure who the kook is, but I don't think it's me." "You did a great service with this movie...[it's] not just Rubio, it's bipartisan."
3:59

NEW The Age of Disclosure director Dan Farah on Bill Maher, Pt I. Maher: "Things have changed... If you don't think this is happening now, I'm not sure who the kook is, but I don't think it's me." "You did a great service with this movie...[it's] not just Rubio, it's bipartisan."

Marik vR

85,261 views • 9 months ago

Tom Holland revealed he became so famous he needed security after Spider-Man 3 Tom Holland: And then Spider-Man 3 came out, and that's when I was like, "I think I need a security guard." (Laughter erupts from the other guests at the table) Host: But how do you handle that? Because that's—that's a level of fame that I couldn't comprehend on any level. Tom Holland: I think that's where Zendaya and I have been such a—like, a strong couple. It's in the spirit of being able to relate with one another on something that is very, very unique. And I think it's just relying on the people around you. It's about being able to go where you want to go and, you know, there are restaurants that have little backrooms and stuff where you can have a more private night. But at the end of the day, it's no hardship, you know? When people are recognizing you because they enjoy your work, it's a pretty it's a pretty wonderful thing, like with the beer.
1:08

Tom Holland revealed he became so famous he needed security after Spider-Man 3 Tom Holland: And then Spider-Man 3 came out, and that's when I was like, "I think I need a security guard." (Laughter erupts from the other guests at the table) Host: But how do you handle that? Because that's—that's a level of fame that I couldn't comprehend on any level. Tom Holland: I think that's where Zendaya and I have been such a—like, a strong couple. It's in the spirit of being able to relate with one another on something that is very, very unique. And I think it's just relying on the people around you. It's about being able to go where you want to go and, you know, there are restaurants that have little backrooms and stuff where you can have a more private night. But at the end of the day, it's no hardship, you know? When people are recognizing you because they enjoy your work, it's a pretty it's a pretty wonderful thing, like with the beer.

FlickHub

98,254 views • 7 days ago

#WATCH | On L&T Chairman SN Subrahmanyan advocates a 90-hour work week, Mahindra Group Chairman Anand Mahindra says, "I have a huge respect for Narayan Murthy and others. So let me not get this wrong. But I have to say something. I think this debate is in the wrong direction because this debate is about the quantity of work. My point is we have to focus on the quality of work, not on the quantity of work. So it's not about 40 hours, or 70 hours or 90 hours. What output are you doing even if it's 10 hours? You can change the world in 10 hours... I have always believed that you have to have leaders and people in your company who make wise decisions and wise choices. So the question is, which kind of mindmakes the right choices and right decisions? And I think a mind that is exposed to holistic thinking, thinking that is open to inputs from around the world, that's when you'll make a good decision. If you don't spend time at home, if you're not spending time with friends, not reading, and don't have time to reflect, how will you bring the right inputs into making a decision?... I don't want it to be about quantity. Ask me what's the quality of my work. Don't ask me how many hours I work...."
4:16

#WATCH | On L&T Chairman SN Subrahmanyan advocates a 90-hour work week, Mahindra Group Chairman Anand Mahindra says, "I have a huge respect for Narayan Murthy and others. So let me not get this wrong. But I have to say something. I think this debate is in the wrong direction because this debate is about the quantity of work. My point is we have to focus on the quality of work, not on the quantity of work. So it's not about 40 hours, or 70 hours or 90 hours. What output are you doing even if it's 10 hours? You can change the world in 10 hours... I have always believed that you have to have leaders and people in your company who make wise decisions and wise choices. So the question is, which kind of mindmakes the right choices and right decisions? And I think a mind that is exposed to holistic thinking, thinking that is open to inputs from around the world, that's when you'll make a good decision. If you don't spend time at home, if you're not spending time with friends, not reading, and don't have time to reflect, how will you bring the right inputs into making a decision?... I don't want it to be about quantity. Ask me what's the quality of my work. Don't ask me how many hours I work...."

ANI

102,689 views • 1 year ago

Jr: We need Republican like dog catchers because who knows what they're going to do with those dogs. We've been seeing the videos, I don't know. They’re like.. how dare you say that was a dog? Like it's a dog, it's a cat. It's something with four legs and really small. I can tell you what it's not, it's not a rib eye, it's not something any of you have ever barbecued before. I can assure you that.
0:26

Jr: We need Republican like dog catchers because who knows what they're going to do with those dogs. We've been seeing the videos, I don't know. They’re like.. how dare you say that was a dog? Like it's a dog, it's a cat. It's something with four legs and really small. I can tell you what it's not, it's not a rib eye, it's not something any of you have ever barbecued before. I can assure you that.

Acyn

1,518,339 views • 1 year ago

"I think it's important to realize that antisemitism is not racism. It's not just bigotry. It's not just, like, 'Hey, I don't like you because you have these characteristics.' Antisemitism is a kind of totalizing mind virus. It changes the way you think. It changes the way you perceive things that happen in the world. And it leads you down dark roads. Not dark roads because they're ugly and gross—they are—it leads you down paths where you don't understand what's happening in the world and why. Because you can say, 'Oh, well, you know, there's a Jew behind, you know, every terrible thing.' And that's kind of what we're seeing now." David Reaboi, Late Republic Nonsense Ashira Solomon עשירה סולומון
0:44

"I think it's important to realize that antisemitism is not racism. It's not just bigotry. It's not just, like, 'Hey, I don't like you because you have these characteristics.' Antisemitism is a kind of totalizing mind virus. It changes the way you think. It changes the way you perceive things that happen in the world. And it leads you down dark roads. Not dark roads because they're ugly and gross—they are—it leads you down paths where you don't understand what's happening in the world and why. Because you can say, 'Oh, well, you know, there's a Jew behind, you know, every terrible thing.' And that's kind of what we're seeing now." David Reaboi, Late Republic Nonsense Ashira Solomon עשירה סולומון

Max 📟

11,618 views • 5 months ago

“I'm not a huge hater of the institutions. I wasn't a huge hater of altcoins. These institutional products are just kind of altcoins. People can go make their money. Go do your thing. But it's not Bitcoin. An ETF is not Bitcoin. With these centralized projects, you're not getting the core values of Bitcoin, the control, the censorship resistance, the privacy. You're putting it in a centralized wrapper, and if you put Bitcoin in a centralized wrapper, you lose everything that's good about it. It's not Bitcoin. It's just an affinity marketing thing. It's “Hey, you like Bitcoin, go buy my other project." Just like, "Hey you like bitcoin? Go buy my altcoin." It's not the same thing, and I think in many ways it's a step backwards. I don't hate these people, but they certainly shouldn't be celebrated. It's not forwarding our industry if we do treasury strategies, if we do ETFs, we cheer for BlackRock and Cantor. That's a step backwards. It's not something to be cheerful for. It's not a victory, in my opinion. A victory is having more people have direct ownership of real Bitcoin. We now have millions of people who've been onboarded into this fake paper thing that's a claim on a claim on a claim of something that has Bitcoin in the words, but it's not actually Bitcoin. They are never actually holding a wallet like many of us did back in 2012 where somebody sent us that first dollar and you say, "Wow, this is cool. I didn't need to give my ID and I'm able to control and hold this sound money for the first time." You now have a whole generation of millions of people that don't have that. They have some junk fiat product sitting like sludge on their centralized brokerage account at the centralized clearing firm, traded on a centralized exchange, with a centralized transfer agent, and a centralized custodian, and they have to trust six levels of people on a claim for something that has the word ‘Bitcoin’ in it. It's not a victory. It's not a step forward. I don't think it's something that should be celebrated at all.”
2:00

“I'm not a huge hater of the institutions. I wasn't a huge hater of altcoins. These institutional products are just kind of altcoins. People can go make their money. Go do your thing. But it's not Bitcoin. An ETF is not Bitcoin. With these centralized projects, you're not getting the core values of Bitcoin, the control, the censorship resistance, the privacy. You're putting it in a centralized wrapper, and if you put Bitcoin in a centralized wrapper, you lose everything that's good about it. It's not Bitcoin. It's just an affinity marketing thing. It's “Hey, you like Bitcoin, go buy my other project." Just like, "Hey you like bitcoin? Go buy my altcoin." It's not the same thing, and I think in many ways it's a step backwards. I don't hate these people, but they certainly shouldn't be celebrated. It's not forwarding our industry if we do treasury strategies, if we do ETFs, we cheer for BlackRock and Cantor. That's a step backwards. It's not something to be cheerful for. It's not a victory, in my opinion. A victory is having more people have direct ownership of real Bitcoin. We now have millions of people who've been onboarded into this fake paper thing that's a claim on a claim on a claim of something that has Bitcoin in the words, but it's not actually Bitcoin. They are never actually holding a wallet like many of us did back in 2012 where somebody sent us that first dollar and you say, "Wow, this is cool. I didn't need to give my ID and I'm able to control and hold this sound money for the first time." You now have a whole generation of millions of people that don't have that. They have some junk fiat product sitting like sludge on their centralized brokerage account at the centralized clearing firm, traded on a centralized exchange, with a centralized transfer agent, and a centralized custodian, and they have to trust six levels of people on a claim for something that has the word ‘Bitcoin’ in it. It's not a victory. It's not a step forward. I don't think it's something that should be celebrated at all.”

Bruce Fenton

23,862 views • 7 months ago