
The Degenerate Economy Enters Ludicrous Mode – Just As AI Meets The Internet of Attention And The Internet Of Money …Sunday Reads and Listens
Happy Sunday…
Let me start with some great news…we are all Moses now:

Pace yourself please.
Onward…
Just a few weeks ago I wrote ‘everything is up for grabs’.
The gist:

This weekend, degeneracy has quickly entered ‘ludicrous mode’. There are no guardrails and just like Adam and Eve discovered..nowhere to hide.
Degeneracy did not begin with booze and guns and tobacco, it started with Adam and Eve. If only they had behaved! Sidenote – when I searched for ‘Adam and Eve’ a sex toy site was the top sponsored search of course (and maybe I bought a few things).
So why ‘ludicrous mode’? and maybe more importantly what comes after this?

Of course our Crypto Czar David ‘Ball’ Sacks is in his own ‘god mode’ running cover for the grift $TRUMP and $MELANIA dropped on the world a few days before the election. I noted this would happen in my newsletter last week.
Great news from our Czar…your $TRUMP memecoin losses are now a collectible.
Next up…Banks are now allowed to custody Bitcoin as The SEC rescinds SAB 121. This is what JP Morgan’s Jamie Dimon and Charlie Munger call ‘rat poison for all’. Now that JP Morgan can leverage Bitcoin, they surely will love it. Finally every dark pool and criminal organization in the world can bank in the USA again. Make America Launder Again – MALA!
Next..young Eric, grifter in residence, shouted this as well yesterday:

As an investor and entrepreneur, I am cool with this but let’s not forget the massive unintended consequences to our portfolio’s as this gets digested.
Next…while Trump waffles on all things China and TikTok, a bigger problem may have emerged for America…DeepSeek. AI is having a Jurassic Park moment and China is the T-Rex. My ‘Trends with Friends’ cohost Michael Parekh covers the Chinese AI newcomer. Rest assured, this weeks headlines will be full blown ‘should we panic about owning Nvidia and Open AI’. My simple advice on this developing story is do what millennials have been doing, turn off traditional financial media:

Before these bits of weekend degeneracy fuel, the biggest problem Coinbase already had was managing the supply of tokens/shitcoins:
We need to rethink our listing process at @coinbase given there are ~1m tokens a week being created now, and growing. High quality problem to have, but evaluating each one by one is no longer feasible. And regulators need to understand that applying for approval for each one is… x.com/i/web/status/1…
— Brian Armstrong (@brian_armstrong)
1:42 AM • Jan 26, 2025
How many tokens a week is enough?
We will soon find out. Supply will crush demand.
It is not just crypto where degeneracy is in ludicrous mode… The Wall Street Journal says America is in love (addicted) to ‘parlay bets ’

How mainstream are memecoins already?
David Portnoy, the parlay king and the voice of sports degeneracy explains his/the greedy dilemma:
I’ve been going back and forth about if I want to launch my own meme coin #DDTG
— Dave Portnoy (@stoolpresidente)
2:37 PM • Jan 23, 2025
Every grifter is quickly out contemplating their next grift.
The ‘grifters of grifters’ Chamath went on Phucker Tarlson’s Twitter video show (I will not link to the drivel) to attempt to clean up his image so he can take his next grift to the ‘flyover’ states. His best pal is Crypto Czar David ‘Ball’ Sacks so don’t ‘@’ me.
How do you keep up with degeneracy gone ‘ludicrous mode’?
This is a massive opportunity that I am spending most of my day on at Social Leverage (some new Investments to be announced soon) and at Stocktwits.
This weekend, every trending ticker on Stocktwits is a memecoin (see below). I am as confused as 99 percent of grizzled Stocktwits, investing and trading veterans because the next click leads to nowhere. We have been working tirelessly the last few months and reallocated resources so that in 45 days all of Stocktwits crypto and memecoins will be reimagined. Crossover investors and traders that lived in a stock market world can begin to make heads and tails of this new boom/bubble/mania. There is no going back. In 2025 and beyond we are all crossover investors.

Finally, at least for today…what comes next?
More speculation of course.
Some unbelievable scams.
Very little oversight.
You are on your own. Your job is to ignore or participate. If you are going to participate you might as well profit.
When I saw this all coming a few years back in 2023 I set up a ‘Degenerate Economy Index’ so that people could follow along and invest in the trend. The idea was to pick the picks and shovels of this new economy. The index has crushed the Nasdaq 100 ($QQQ) up 120 percent to date. I make small changes to it once in a while which you can track in real time from the link above. Here are screenshots from today:


One thing I plan to have my son Max do is to invest an equal amount of dollars in my ‘degenerate economy’ index each time he makes a parlay bet.
Nine years after investing in Robinhood, thirteen years after investing in Etoro and 16 years after starting Stocktwits, my thesis of leveraging the mobile and social web to create better onramps, user interfaces/design and cost structures has evolved. I was extremely confident that Twitter and the real time web would change finance/investing.
As I wrote in December…here comes ‘real time 2.0’. It is real time with no guardrails and built on the internet of money.
I am bullish, nervous, excited and creeped out and trying to prepare myself and the family.