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At FIA's IDX conference, Walt Lukken sat down with DRW founder and CEO Don Wilson to discuss how innovations in blockchain and AI will transform trading and reshape markets as we know them. Don also shared his advice for success to up and coming traders.
Lex chats with Yuval Rooz, CEO and co-founder of Digital Asset, about the company's transformation from its early institutional blockchain experiments to launching the Canton Network - a purpose-built, privacy-enabled smart contract platform designed for financial markets. Rooz shares insights into why Digital Asset was inspired by Bitcoin's financial principles rather than its technical assumptions, highlighting the importance of rethinking blockchain infrastructure rather than replicating flawed legacy models. He also unpacks the hard lessons from high-stakes projects like the Australian Stock Exchange overhaul, emphasizing why large-scale financial infrastructure must evolve incrementally to succeed. Finally, the conversation dives into Canton's unique tokenomics, where 70% of block rewards go to the developers and users who create economic activity on the network, challenging traditional validator-centric models and aligning incentives more fairly for long-term ecosystem growth. Notable discussion points: 1. Canton's innovative tokenomics: Unlike Ethereum, where validators capture most of the rewards, Canton allocates 70% of block rewards to developers and applications, creating sustainable alignment. 2. Lessons from ASX: Rooz reflects on the failed ASX blockchain migration, advocating for iterative upgrades rather than “big bang” infrastructure transformations. 3. True tokenization: Rooz critiques superficial on-chain IOU models, asserting that real tokenization must place the asset's books and records natively on-chain to unlock the benefits of DeFi and composability. MENTIONED IN THE CONVERSATION Topics: Digital Asset, Canton Network, DRW, ASX, Ethereum, Bitcoin, Plaid, DAML, fintech, web3, tokenization, digital assets, financial infrastructure, DeFi, onchain ABOUT THE FINTECH BLUEPRINT
Welcome back to The Gwart Show! Today, Wilson Huang from DRW Cumberland joins us to talk about the explosive growth of Bitcoin options markets, why crypto volatility attracts both miners and hedge funds, how ETFs are reshaping institutional adoption, and why traditional finance principles are finally making sense in digital assets. We dive deep into market structure, OTC trading, and the future of crypto derivatives. Subscribe to the newsletter! https://newsletter.blockspacemedia.com Notes: • Bitcoin dominates 90% of crypto options volume • DRW started 30 years ago in CME trading pits • ETF volumes reached historic highs recently • Crypto vol trades in 40-60% range typically • Cumberland handles thousands of BTC clips OTC • Mining companies hedge at specific cost levels Timestamps: 00:00 Start 00:48 Background 02:04 Crypto options markets 04:52 Requirements for a good options market 10:13 How exposed are miners? 19:05 OTC 21:24 Custody 29:53 Spot selling 36:13 Coinbase buying Deribit 41:40 Options & DeFi 45:02 Perpetuals 49:11 The future
David Ramsden-Wood stops by the Energy Impact and the Energy News Beat Podcast to talk about the Trump Middle East Tour, EOG, and his Hot Take of the Day.DRW wrote on his Substack, "EOG Goes Abroad, and So Does American Power." It is a great article that raises some huge issues in the oil and gas markets.This is a must-watch episode for anyone who wants to understand the real future of American energy and why it's being shaped overseas.Highlights of the Podcast00:01 – Introduction01:21 – The Trump Doctrine & Energy Strategy05:16 – EOG's 900,000-Acre Concession in UAE07:37 – Energy as an Export Service09:10 – Global Energy Demand: Asia Rising11:35 – Natural Gas & Policy Quid Pro Quo13:59 – Policy Failures in Green Energy States17:21 – Are We at Peak U.S. Oil?23:34 – EOG's Move: Independence or Buyout Prep?27:18 – Geopolitics, Israel, and the Energy Landscape29:09 – Gas vs. Oil: The Future Molecule31:21 – Politics and Policy Under Biden38:27 – Canadian Politics & U.S. Strategy40:00 – Gavin Newsom and Political Opportunism41:36 – Can Trump End Climate Subsidies?44:02 – Censorship, Free Speech, and Elon Musk47:20 – Tesla, Consumer Choice & Auto Industry Shifts49:01 – Political Aspirations & Civic Engagement51:42 – Social Security & Fiscal Imbalance54:14 – 2025 Tax Cuts & Electoral Consequences56:36 – Closing Thoughts on Energy, Policy & Optimism58:09 – Contacts
Quentin Harris, Georgia Cee - Don't U WorryMaxxi Soundsystem, DRW, Royston - Open Your EyesDistant People ft Chappell - Blows You AwayGordheaven ft Morobi - KhuzekaDJ Chus - Harmonica TrackMotor City Drum Ensemble - LOVECity Life ft. DD- San FranciscoMaya Jane Coles - Humming BirdSebastien Leger - MajuroThe Pimp - EverydayVolta Bureau - Alley CatLovebirds - The RideTime 61:28
The US Dollar has been the world's global reserve currency since the Second World War, underpinning global trade and US dominance. However, as our guest argues, its use as a global policy tool such as in sanctions, increasing geopolitical competition and political instability at home is threatening its status. Various countries and blocs are attempting to circumvent dollar trades. Yet, perhaps, the dollar's biggest threat comes from blockchain and especially Bitcoin. What does that mean for commodities and the world? Our guest is Jonah Van Bourg, former oil derivatives trader at Goldman Sachs and Vitol, crypto and precious metals trader at DRW and now helping to build Onyx Commodities. Jonah is also the co-host of the 1000x podcast.To see the 1000x podcast visit: https://www.youtube.com/@1000xPodcastFor more on HC Group visit: www.hcgroup.global
Follow On The Margin On Spotify: https://spoti.fi/46WWQ6T Follow On The Margin On Apple Podcasts: https://apple.co/3UsnTiM Follow Blockworks Macro On YouTube: https://bit.ly/3NKpujX -- This week, Jonah Van Bourg Director at Onyx & Former Global Head of Trading at DRW joins the show for a discussion on his 2024 outlook for both commodity and crypto markets. We deep dive into Jonah's Bitcoin thesis, the U.S debt end game & the outlook for an Ethereum ETF in 2024 & beyond. To hear all this & more, you'll have to tune in! -- Access liquidity on centralised exchanges through Copper's off-exchange collateral management and settlement solution. To find out more about ClearLoop visit: https://copper.co/products/clearloop -- Follow On The Margin: https://twitter.com/OnTheMarginPod Follow Jonah: https://twitter.com/jvb_xyz Follow Mike: https://twitter.com/MikeIppolito_ Follow Blockworks: https://twitter.com/blockworks_ -- Digital Asset Summit 2024. Use Code: MARGIN10 for a 10% discount. https://blockworks.co/event/digital-a... Research, news, data, governance and models – now, all in one place. As a listener of On The Margin, you can use code "MARGIN10" for a 10% discount when signing up to Blockworks Research https://www.blockworksresearch.com/ -- Timestamps: (00:00) Introduction (05:05) Trading Crypto & Commodities (09:40) The Crypto Thesis (14:03) Copper Ad (18:04) Macro Outlook In 2024 (28:22) The Debt End Game (31:05) The Bitcoin ETFs (35:55) Das London Plug (37:12) The Bitcoin Thesis (44:53) The Crypto Thesis (48:54) Ethereum ETF (55:18) Final Thoughts -- Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.
Greg Magadini, Director of Derivatives at Amberdata, spent over a decade as a professional trader in traditional finance markets with proprietary firms such as SMB Capital, Chopper Trading, and DRW before co-founding and working as CEO of Genesis Volatility, a leading crypto options insights provider. Genesis Volatility was acquired by Amberdata in 2022 to grow their options data analytics capabilities for their roster of institutional clients such as Citi, NASDAQ, Franklin Templeton, and more.In this conversation, we discuss:- Bitcoin ETF- Crypto derivatives- Choosing which ETF to invest in- Data gathering- Differences between volatility and implied volatility- ETF news driving the market- DEX pool data- Buy the rumor, sell the news- On-chain data- 2024 trendsAmberdataWebsite: www.amberdata.ioX: @AmberdataioLinkedIn: AmberdataGreg MagadiniX: @genesisvolLinkedIn: Greg Magadini, CFA --------------------------------------------------------------------------------- This episode is brought to you by PrimeXBT. PrimeXBT offers a robust trading system for both beginners and professional traders that demand highly reliable market data and performance. Traders of all experience levels can easily design and customize layouts and widgets to best fit their trading style. PrimeXBT is always offering innovative products and professional trading conditions to all customers. PrimeXBT is running an exclusive promotion for listeners of the podcast. After making your first deposit, 50% of that first deposit will be credited to your account as a bonus that can be used as additional collateral to open positions. Code: CRYPTONEWS50 This promotion is available for a month after activation. Click the link below: PrimeXBT x CRYPTONEWS50
This episode of the Web3 with Sam Kamani podcast featuers Tama Churchouse, Chief Operating Officer of Cumberland Labs, an early stage blockchain venture studio backed by DRW and Cumberland. Tama has been involved in crypto since 2016, coming from over 10 years in structured finance at JP Morgan in Hong Kong. At Cumberland Labs, Tama helps ideate, scope, research, build POCs and launch new crypto businesses from scratch. Some of their current projects include: Hashflow - An on-chain asset management platform for structured products and volatility trading. It caters to institutional clients by being fully on-chain yet regulated. Expand.network - A one-stop API for developers to easily interact with dozens of blockchains through a single API while retaining self-custody. Already has corporate clients. Digitally - An NFT wiki community to provide clear, objective info on NFT projects. Includes history, functionality, rights etc. There is a lack of reliable NFT info currently, so this aims to be a reliable source. When discussing the future of NFTs, Tama believes we are in a bear market currently after the 2021 hype cycle. However, NFTs as a technological primitive remain as fascinating as years ago. Stronger projects will emerge from this winter by providing more utility, community and commercial viability. In DeFi, Tama sees more merging with TradFi coming in the next 6-12 months. This includes bringing traditional assets on-chain while still providing access to DeFi. For example, placing idle stablecoins into structured on-chain products vs putting money in and out of bank accounts. On stablecoins, Tama believes the structure and market making are most important for maintaining the peg. Non-USD stablecoins are still lacking, which is a missed opportunity - stablecoins are perfect for transferring cross-border value. When asked about challenges, Tama explained the regulatory limitations on attaching economic features to tokens is frustrating. This restricts the upside and democratizing potential of blockchain. Keeping up with the explosion of new protocols is also difficult. Finding high quality entrepreneurs and ideas early that fit their vision and network is an ongoing effort. Overall, Tama remains excited about the potential for crypto to enable creation and transfer of economic value in a permissionless way. He wants to enable projects to provide as much value as possible to their users and token holders. Nothing mentioned in this podcast is investment advice and please do your own research. Finally, I don't run ads on my podcast. It would mean a lot if you can leave a review of this podcast on ApplePodcasts or share this podcast with a friend. Connect with Tama and Cumberland Labs here. https://www.cumberlandlabs.co/ https://cumberland.io/ https://www.linkedin.com/in/tamachurchouse/ Connect with me here - https://samkamani.com/#linktree --- Send in a voice message: https://podcasters.spotify.com/pod/show/web3podcast/message
Explore Dancing-Reading-Writing (DRW) as a dynamic and ever-evolving ABR practice that fuses bodily engagement with research. Dr. Carolina Bergonzoni delves into the synergy of dance, reading, and writing, emphasizing how DRW transcends traditional research approaches. Her personal reflections, photos, and poetic writing exemplify ways in which dance guides understanding and generates insights. DRW challenges the notion of fixed research, advocating for a continuous process of inquiry and underscoring how this process leads to unexpected discoveries. DRW encourages educators, artists, and researchers to integrate embodied experiences and creativity into their research journey.
Das Heizungsgesetz hat diese Woche für Diskussionsstoff gesorgt. Mit der Verzögerungstaktik der FDP ist unklar, ob es noch vor der Sommerpause beschlossen wird, um nächstes Jahr in Kraft zu treten. Was steckt hinter der Taktik der Liberalen? Und was kommt eigentlich genau auf uns zu mit diesem neuen Gesetz? Welche Heizungsformen sind dann noch erlaubt? Und könnte das auch für Mieter, nicht nur Haus- und Wohnungsbesitzer, bedeuten, dass die Heizkosten dann wieder steigen? Diese Fragen bespricht Moderatorin Lisa Fritsch mit t-online-Chefredakteur Florian Harms und Politikredakteurin Sonja Eichert in dieser Folge des "Diskussionsstoff"-Podcasts. Den „Tagesanbruch" gibt es auch zum Nachlesen unter https://www.t-online.de/tagesanbruch Anmerkungen, Lob und Kritik gern an podcasts@t-online.de Den „Tagesanbruch“-Podcast gibt es immer Montag bis Freitag gegen 6 Uhr zum Start in den Tag. Verpassen Sie keine Folge und abonnieren Sie uns bei Spotify (https://open.spotify.com/show/3v1HFmv3V3Zvp1R4BT3jlO?si=klrETGehSj2OZQ_dmB5Q9g), Apple Podcasts (https://itunes.apple.com/de/podcast/t-online-tagesanbruch/id1374882499?mt=2), Google Podcasts (https://podcasts.google.com/feed/aHR0cHM6Ly90YWdlc2FuYnJ1Y2gucG9kaWdlZS5pby9mZWVkL21wMw?ep=14) oder in Ihrer Lieblingspodcast-App. Auf YouTube finden Sie die Playlist mit allen Tagesanbruch Folgen hier: https://www.youtube.com/watch?v=HfO2v_r_RvE&list=PL7bR88NaY8TQfvMmvsKEYOvd0lSkdIkQ- Wenn Ihnen der Podcast gefällt, lassen Sie gern eine Bewertung da. Die Diskussion vom „Tagesanbruch am Wochenende“ heißt jetzt „Diskussionsstoff”. Diesen neuen Podcast finden Sie über die folgenden Links bei Spotify (https://open.spotify.com/show/3ClozyyjHAhdKBGM4iiQD8), Apple Podcasts (https://podcasts.apple.com/podcast/id1686917996), Google Podcasts (https://podcasts.google.com/feed/aHR0cHM6Ly9kaXNrdXNzaW9uc3N0b2ZmLnBvZGlnZWUuaW8vZmVlZC9tcDM) oder YouTube: https://www.youtube.com/playlist?list=PL7bR88NaY8TSSS6oLqZ0nwmb68sWUMGQm. Abonnieren Sie den Podcast am besten gleich dort, um keine neuen Folgen zu verpassen. Auf t-online finden Sie den neuen Diskussionsstoff-Podcast hier: www.t-online.de/podcasts/diskussionsstoff/ #nachrichten #politik #news #meinung #podcast #heizungsgesetz #heizung Quellen Töne: 1. Habeck, Grüne: Deutschlandfunk Nova https://share.deutschlandradio.de/dlf-audiothek-audio-teilen.3265.de.html?mdm:audio_id=dira_DRW_3e6466b3 2. Djir-Sarai, FDP: ZDF https://www.zdf.de/nachrichten/heute-journal/heute-journal-vom-22-mai-2023-100.html
In today's episode of 1000x, we are joined by Don Wilson, the founder of DRW and one of the world's most successful traders. Don explains how to use probability distributions to make decisions, how he founded DRW, why BTC has negative convexity, how AI will change financial markets and more! We'll drop a new 1000x episode on Empire's RSS feed and the 1000x YouTube channel every two weeks. Hit the links below and give us a follow! - - Timestamps: (00:00) Introduction (00:57) How Don First Became a Trader (06:28) Custom Valuation Models and Strategies (10:37) The Transition to Electronic Trading (14:56) Bitcoin's Appeal: Removing Intermediaries (19:21) Cumberland's Origin Story (21:15) BTC's Negative Convexity (26:35) How Will AI Impact Financial Markets? (30:16) Crypto's Evolution and Market Structure (35:15) When Will RWAs Move to Crypto Rails? (37:50) Today's Infrastructure Shortfalls and the Canton Blockchain (42:54) Don's Decision-Making Process (47:51) Favorite Trades of All Time - - Follow Don: https://www.linkedin.com/in/donwilsonjr/ Follow Avi: https://twitter.com/AviFelman Follow Jonah: https://twitter.com/jvb_xyz Follow 1000x: https://twitter.com/1000xPod Subscribe on YouTube: https://bit.ly/3FuSarX Subscribe on Apple: https://tinyurl.com/mv4frfv7 Subscribe on Spotify: https://tinyurl.com/wbaypprw Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ - - Resources: Golden Tree https://www.goldentree.com/ Cumberland https://cumberland.io/ https://twitter.com/CumberlandSays DRW https://drw.com/ https://twitter.com/DRWTrading Digital Asset https://www.digitalasset.com/ Canton Network https://www.canton.network/ - - Disclaimer: Nothing said on 1000x is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Avi, Jonah and our guests may hold positions in the companies, funds, or projects discussed.
Coal Trading with Hayn Park Coal demand reached an all-time peak in 2022. Prices reached levels not seen for over a decade. China is permitting two new coal fired power plants a week and Germany is burning lignite to meet its power demand. Traders reaped huge rewards trying to connect a fragile, disrupted, supply chain. As the world strives for the energy transition, removing coal from our power mix is vital. Financiers and public companies have made firm commitments to this. This has pushed the coal supply chain into ever more private hands and into a more opaque and volatile arena. What is the coal market? What is its structure? How is it traded? And where is it headed. Our guest is Hayn Park, head of European energy trading at DRW and a veteran energy trader.
Have you ever wondered how successful traders make their fortunes in the markets? In this episode of The Derivative Podcast, we explore the world of trend following with a master in the field, Andrew Strasman. Here first-hand about his journey as a trend follower, from his early days in the trading pit to his experience in the real estate market and the birth of high-frequency trading. Throughout the discussion, Jeff and Andrew talk about the importance of risk management, position sizing, and having a stop order in place. We'll also dive into the problem of shorting cryptocurrencies and trying to predict market winners. Uncover the significance of monitoring trades from inception to conclusion and implementing stop orders, and delve into the no-nonsense approach towards the financial crisis of 2008, the global impact of central bank digital currency, the utilization of CTA indices, the methods by which conventional trend followers generated alpha, and a plethora of other captivating topics — SEND IT! Chapters: 00:00-01:29=Intro 01:30-12:52= The turtle Quiz & Skiing creekside 12.53-36:47= First taste of Trend Following, Board of Trade shenanigans, early days of high-frequency trading 36.48-54:00= A French Trading company, DRW days & You vs. Yourself 54:01-01:19:53= Earning your stripes, 40in20out: importance of stop-orders & your pure dollar at risk 01:19:54-01:30:58= Totem: the spark between boldness & humility / Central Bank high jinx 01:30:59-01:46:26= Vol targeting: Last year's darling is this year's heel & Side-stepping Trend Following Check out Andrew's websites for more information at totemasset.com & 40in20out.com & follow along with Andrew on LinkedIn for all the latest news. Don't forget to subscribe to The Derivative, follow us on Twitter at @rcmAlts and our host Jeff at @AttainCap2, or LinkedIn , and Facebook, and sign-up for our blog digest. Disclaimer: This podcast is provided for informational purposes only and should not be relied upon as legal, business, or tax advice. All opinions expressed by podcast participants are solely their own opinions and do not necessarily reflect the opinions of RCM Alternatives, their affiliates, or companies featured. Due to industry regulations, participants on this podcast are instructed not to make specific trade recommendations, nor reference past or potential profits. And listeners are reminded that managed futures, commodity trading, and other alternative investments are complex and carry a risk of substantial losses. As such, they are not suitable for all investors. For more information, visit www.rcmalternatives.com/disclaimer
In Episode 29 of The Energy Question, David Blackmon hosts energy analyst/writer David Ramsden Wood in a wide-ranging discussion about the global energy situation.Much of the discussion centers on the need to deal with energy issues from a standpoint of facts and science rather than just acceding to the popular propaganda narrative pushed by western governments and the media.Run of Show:00:00 - Intro00:41 - Biden's efforts to ban Gas Stoves01:38 - Propaganda and misinformation around the "Climate Emergency"02:00 - The similarities between Climate and COVID propaganda03:53 - Why hybrids are preferable to EVs06:23 - DRW's take on where we are in this energy transition08:33 - Germany and its Industrial Infrastructure09:04 - Inflation Reduction Act10:26 - Comparing the way we're dealing with climate now to the way we dealt with COVID in 202017:58 - Relationships with other countries (China, India, others) going on different direction19:47 - Energy transition28:42 - OutroSponsorships are available or get your own corporate brand produced by Sandstone Media. David Blackmon LinkedInDB Energy Questions Energy Transition Absurdities SubstackThe Crude Truth with Rey TrevinoRey Trevino LinkedInEnergy Transition Weekly ConversationIrina Slav LinkedInArmando Cavanha LinkedIn ENB Top NewsENBEnergy DashboardENB PodcastENB Substack
Financial Freedom for Physicians with Dr. Christopher H. Loo, MD-PhD
Please read disclaimer below. About: Ivan is currently focused on using the power of Web3 to give people more agency over their money. Before co-founding PennyWorks, Ivan was the Head of Delta Execution for FICC Options at DRW. He founded the desk and built fully automated execution algorithms in the futures markets. Additional roles include Senior Portfolio Manager reporting to the Chief Investment Officer at Bank of America, and co-founder of Blockchain Systems LLC, a megawatt-scale crypto miner. He holds degrees in computer science from Georgia Tech, financial mathematics from UChicago, and mathematics and economics from McGill University. Ideas For Episode Titles / Main Focus Be The Master of Your Own Financial Universe The Self Sovereign Individual, and How You Can Get There What They Don't Teach You About Money and Why Should Know Crypto 101: From Zero to Hero 5 Things You Didn't Know About Inflation Questions Discussed During the Interview: How can I protect myself from inflation? What investment opportunities are there in DeFi? How does DeFi work? What are blockchains, smart contracts, and web3? How do I protect myself from hacks, scams and fraud online? How do I optimize my investments for retirement? How do I keep my crypto safe? What industries will be disrupted by blockchain and web3? What's next for central bank policy? How will the central bank's actions impact me? Ivan can be reached at: https://www.pennyworks.com/ Disclaimer: Not advice. Educational purposes only. Not an endorsement for or against. Results not vetted. Due your due diligence. Click here to join PodMatch (the "AirBNB" of Podcasting): https://www.joinpodmatch.com/drchrisloomdphd We couldn't do it without the support of our listeners. To help support the show: CashApp- https://cash.app/$drchrisloomdphd Venmo- https://account.venmo.com/u/Chris-Loo-4 Thank you to our sponsor, CityVest: https://bit.ly/37AOgkp Follow our YouTube channel: https://www.youtube.com/chL1357 Thank you to our advertisers on Spotify. Financial Freedom for Physicians, Copyright 2022
In the series finale, Avery is back for her final appearance on DRW, and she, Xio, and Roan exchange holiday traditions, discuss their favorite moments over the past season, and share what they're looking forward to in the next year.
Crain's residential real estate reporter Dennis Rodkin talks with host Amy Guth about local housing news, including how Chicago house flipping hit a new high in the first half of 2022, a repurposed schoolhouse in Humboldt Park for sale, and the home of the "Lord of the Dance" Michael Flatley's family on the market. Plus: Senators push Kroger-Albertsons CEOs on concerns over $25 billion merger, a Northwestern tech spinoff wins a Department of Defense contract, Jump Trading and DRW join group investing in Cboe's crypto unit, and Thanksgiving air travel falls short of 2019.
Ivan is currently focused on using the power of Web3 to give people more agency over their money.Before co-founding PennyWorks, Ivan was the Head of Delta Execution for FICC Options at DRW. He founded the desk and built fully automated execution algorithms in the futures markets.Ivan's picks for learning about block chain technology:https://www.gemini.comhttps://marketcap.com/To learn more about Ivan's work go to https://www.pennyworks.com/P.S Please leave a review of this episode in your podcast listening app. Much appreciated
On this midweek show, Crystal chats with Darya Farivar about her campaign for State Representative in the 46th Legislative District - why she decided to run and her thoughts on addressing issues such as homelessness, housing affordability and zoning, healthcare accessibility, progressive revenue and effective spending, education funding, climate change, and ballot access. As always, a full text transcript of the show is available below and at officialhacksandwonks.com. Follow us on Twitter at @HacksWonks. Find the host, Crystal Fincher, on Twitter at @finchfrii and find today's guest, Darya Farivar, at @DaryaForHouse. Resources Campaign Website - Darya Farivar: https://www.daryaforhouse.com/ Transcript [00:00:00] Crystal Fincher: Welcome to Hacks & Wonks. I'm Crystal Fincher, and I'm a political consultant and your host. On this show, we talk with policy wonks and political hacks to gather insight into local politics and policy in Washington State through the lens of those doing the work with behind-the-scenes perspectives on what's happening, why it's happening, and what you can do about it. Full transcripts and resources referenced in the show are always available at officialhacksandwonks.com and in our episode notes. So today I am excited to welcome to the program a candidate for the 46th Legislative District in Northeast Seattle running for State Representative - welcome, Darya Farivar. [00:00:49] Darya Farivar: Thank you so much for having me, Crystal and Bryce. I'm really excited to be here and to talk with you all about my campaign and the issues that are important to me and what I want the 46th to look like. So thank you for a warm welcome. [00:01:01] Crystal Fincher: Absolutely. Thank you for joining us. The 46th doesn't have competitive races very often - it's been a decade basically since the last one, so this is a big opportunity for everyone in the 46th. I'm very happy that people are getting the chance to know you better. Just starting off - what is your background and what made you decide to run for office? [00:01:25] Darya Farivar: Yeah - there are a lot of different things that pushed me towards this decision to run. First and foremost is that the 46th is my home - I've lived here my whole life - I grew up here, I went to grade school here. My parents - when they fled Iran because of the revolution, they actually met at Roosevelt High School, which is my high school. And it's a very sweet story about how they met, but I'll spare you the details. They ended up putting down roots in the Lake City neighborhood and we've been there ever since. And I love this community fiercely - it is such a tight-knit community, a strong community. But it's also one that's been struggling pretty significantly over the years. In Lake City, I'm not really able to go anywhere without seeing folks who are experiencing homelessness, housing instability, mental illness, and substance use - and seeing folks get pulled into the criminal legal system when they don't get the help that they need. Those are my top priorities for this race - not just 'cause I see folks who are struggling every day, but also because it's the work that I'm doing in the Legislature right now. I'm the Public Policy Director at Disability Rights Washington, so I spend my days working on civil rights legislation, mostly at the intersection of challenges that Lake City is experiencing. I think it's really critical that we're electing folks who have a strong understanding of how to navigate Olympia successfully. My entire job relies on me being able to do that successfully - managing an organization's legislative agenda and legislative strategy. And I don't think that can be underlined enough - Olympia's a difficult place to participate and try and get bills passed. And I think it also relies on folks having a deep understanding of how these issues and this policy really translates to on-the-ground work. And I have some understanding there as well - I'm really lucky to have been part of a team that's overseeing 12 different behavioral health diversion programs across the state. There are programs that are doing well - well enough that they've been funded by the Legislature to keep going. And they're doing that really hard work of trying to meet people where they're at and provide help as soon as help is needed. And I know that we can create a state system even beyond just behavioral health that's built on that concept. And that's what I'm looking to do. [00:03:43] Crystal Fincher: Excellent. And I have definitely appreciated the work that you and others have been doing with Disability Rights Washington and the wins that you've been able to achieve, the work that you continue to do to try and make our state more equitable and help it serve everyone. You have talked - I've heard you talk before - about those challenges facing Lake City and the district at-large. And there are more homeless people now, more people struggling with being able to pay rent, to find shelter than there have been - than we've seen before. What can be done to help people stay in their homes and to get off of the street? What are your plans for that? [00:04:28] Darya Farivar: Yeah, it is certainly easier to keep folks in their homes at the beginning, rather than wait for folks to - for example, you have to be homeless for a night in order to access a lot of housing services. And that just doesn't make sense - to wait for someone to lose absolutely everything before intervening is not okay. It's not helpful. It's incredibly traumatizing to the individual. And it's also just not a good use of our funds too, and the very little resources we have as a state. So building up supports and tenant protections and making sure that - if it's a hundred dollars between someone experiencing homelessness or being able to stay in their home, making sure that we can find that to keep folks there, making sure that we've got those rental subsidies available for folks. And then also looking at folks who, unfortunately, did make it to that point and crisis, where they did end up on the streets - trying to look at what the underlying reasons that pushed them over the edge. And for many folks, it's disability. National numbers show that 40% of folks who are experiencing homelessness actually identify as having a disability. Now we can have a whole conversation about identifying as having a disability versus actually being diagnosed as having a disability - and very often, a lot more folks meet diagnosis criteria than actually identify with it - especially folks who are having behavioral health challenges. And so when I look at what's happening there, I see disability and I see behavioral health as a big part of it. And so I look at our behavioral health system - and our behavioral health system is missing the entire front end of it. We're waiting for folks, again, to fall through every last crack in the system before even attempting to provide help. And that's not working, right? There's so many folks that are struggling and suffering because of that - because either themselves or their loved ones have reached out for help and they haven't been able to get it. And leaving folks to access our last-resort behavioral health options and using those as the cornerstone of our system is not working. And so really focusing on diversion and intervention and making sure we're building up things like our newly established 988 hotline - making sure there's services to go along with that. Mobile crisis teams, options to have behavioral health professionals actually responding to crisis and getting folks into things like pure respite and crisis stabilization - that's what we need to be investing in. [00:06:58] Crystal Fincher: That certainly makes sense. And you're right - it is critical to keep people in housing and to intervene before we get to the point where they're at-risk or at the point where they're losing it. Affordability is a major, major contributor to homelessness and it's a big challenge that we're facing statewide - really countrywide - but definitely in this district. One big item that is attempting to help is Representative Jessica Bateman's missing middle housing bill that didn't successfully make it through last session but is coming back - looks like it has momentum. Do you support and will you vote for the missing middle housing bill? [00:07:40] Darya Farivar: Yes, absolutely. Absolutely. We are missing something around 250,000 units of housing across the state. That is a huge and terrifying number, right? And the way that we're gonna be able to address that is by making meaningful changes in the way that we're looking at density. I think - one of the things that I'm seeing a lot along the campaign trail is that folks have been pushed into this kind of false choice between extremes. It's either single-family zoning or it's apartment buildings, and folks don't see a lot of what's in the middle - and what's in the middle is where that conversation is happening or where it should be happening at least. The reality is that we need density. We need density now. And what that density's gonna look like is going to be different neighborhood to neighborhood. And we have to be flexible in allowing for that individualization and reality of the landscape we're working in. Seattle neighborhoods are just very different neighborhood to neighborhood - they look and feel different and the capacity that they have for density is going to vary. And so we have to stay open to that and have to push back against this all-or-nothing approach. There is so much that we can do in the middle. [00:08:50] Crystal Fincher: I think you're absolutely spot on with that. There are people who think that - okay, I'm gonna have some 20-story building - anytime someone talks about absorbing density. But also there are issues, as we saw in this last session, about what is the middle and where does it stand? Are you talking more in terms of sixplex and anything in middle like that? Are you talking higher density? What does the middle look like to you? [00:09:19] Darya Farivar: I think it depends on the neighborhood and the folks that we're talking about. I think sixplexes are a great place to start. I will never pretend to be an expert on that legislation. I'm always the first person to jump up and say, this is an issue I need to learn more about. I am no expert in housing zoning and how that policy is shaping up, and I'm really comfortable saying that because I know that the experts are around me. And I know that there are people that I can call on who are having much more in-depth conversations around this and understand the nuance and the detail with that. For me, it's about talking to folks who are being displaced and figuring out what's gonna keep them in the neighborhood. That's what the middle is to me. How do we keep folks, for example, in a neighborhood like Lake City that is seeing a lot of new development and growth, how do we make sure the long-term residents - like my family, like my parents - are able to age in place and stay in the neighborhood that they have chosen and grown to love. [00:10:11] Crystal Fincher: Absolutely. And when it comes to that, you talk about zoning being essential and important. Is that the only thing that's necessary for keeping rents down, or do we also need to be looking at other policies beyond missing middle housing in order to make sure that we can stabilize rents and keep our communities affordable? [00:10:30] Darya Farivar: I think it's definitely part of it. I don't think that it's all of it. I think there are a lot of creative conversations happening about what we can be doing - not just to increase density, but actually put land and housing back in the hands of, again, folks who have been in these communities longest. Lot of conversations around building up nonprofit housing, which is really interesting and exciting to me. Trying to talk about land co-ops and joint ownership models - where if you can't afford to own all of the home that you're living in, you can own a piece of it. Really interested in having some more conversations about these grassroots solutions - things that communities of color have been talking about for a long time and trying to find ways for the state to support that. Not insert ourselves in the middle of it, but find a way to support that sort of mutual aid that's already happening naturally in a lot of different communities. [00:11:27] Crystal Fincher: Yeah, I think that's wise to look at. I also wanted to talk about - you have such a deep background in disability rights, which is so tied to our healthcare system. And you talked about some of the things you want to accomplish there. We are at a crisis point in many ways where we're looking at staffing shortages in basically every element of our healthcare system. I just read news that a intermediate transport company - taking people from the hospital to different appointments or to other care centers that are necessary and routine - is just shutting down. We have shortages of nurses, of frontline people, of ambulance drivers, just everywhere in the system. What can you as a legislator do to help address our capacity issues, our staffing issues across the healthcare system? And what else would you do to make sure better healthcare is more available to more people? [00:12:28] Darya Farivar: When I look at the workforce shortages across the system, especially in caregiving fields, two things really come to mind. And I'm really drawing from my experiences working with those diversion programs across the state. And they had two major challenges to address - how do we, where is the place to divert someone to housing? And also how do we keep our staff? And the fact that that was one of the biggest concerns, along with housing, is not a fun conversation, right? Because ultimately it comes down to making sure staff feel appreciated and they're being well taken care of. And the reality is that the rates just aren't there - this last legislative session, the Legislature increased rates by about - I believe it was 4% - though I'm probably getting this number wrong now that I haven't looked at the bill for months now. But we increased it just a little - oh, I think it was seven, 7% - that's right, because Massachusetts also increased their rates, but about 15%. And that is much closer to where we need to be. If we want to make sure that folks are gonna get the services and care that they need, we have to take care of the people who are caring for those individuals. And right now, I don't think we're doing that in Washington. The reality is we can think up all of the fabulous new programs that we want to see, but until we have folks to fill them, those are all just dreams and ideas. And it does come down to making sure people are paid a thriving wage - not surviving, not just barely scraping by - a thriving wage. And, the other issue that comes up here is that - especially in behavioral health, folks are really sick. Folks are - again, we're waiting for the system - we're waiting for folks to fall through every last crack in the system before engaging. And so by the time folks get into a place where they're receiving care from a healthcare provider, behavioral health professional - they're in a really, really bad state and it's really hard to help that individual. That can't be said enough. So to help our workforce situation, we have to cough up the money, we have to pay people better. And we need to not wait for folks to fall through all the last cracks in the system. We have to actually intervene earlier so that it is easier, and in a lot of situations safer for staff to intervene and provide the care that folks need. [00:14:58] Crystal Fincher: And obviously we're having so many of these conversations, whether it's about trying to get our unhoused neighbors into housing and the frontline workers that we're relying on doing that, or within the healthcare system. How much we are paying and taking care of these people is part of every conversation, which also gets back to a conversation about revenue. And do we have enough to take care of everyone we need to take care of? And the general consensus is - generally no. And a lot of conversation about implementing more progressive revenue measures in order to do that. Do you support more progressive revenue? And if so, what kind - what are you in favor of? [00:15:46] Darya Farivar: Absolutely. There's no way around it. We need more revenue and it has to be progressive revenue. We have to figure out a way to establish a state income tax. And I know that there are really brilliant people who are working on that. We - I'm really supportive of the capital gains tax, of the state excise tax. I'm really interested in finding ways for folks who are making a ton of money to really just pay their fair share - we're not asking for anything earth shattering. We're asking for folks to pay what is fair and for folks to really make sure that we're not putting the burden on folks who are ultimately accessing the social services that we are paying for - that they are ultimately paying for. That doesn't make any sense whatsoever. We have the most regressive tax structure in the country and that is something for us to be deeply ashamed of. So there's no way around it. We absolutely have to have progressive revenue. And at the same time, we also need to keep having this conversation about - are we spending our money wisely? Are we working with what we have the best we can? And I think the answer is also no. I don't think we're spending our money the best way we can possibly spend it. And looking at the behavioral health system is where I see one of those examples so clearly. One of the things that comes with waiting for folks to fall through the cracks in the system is that it is really expensive to get them into the care that they need. And sometimes - oftentimes - they tip over that line, over the line where you get care and into a really expensive system, which is the criminal legal system. And we are dumping so much money into that system as a way to try and compel people into getting care - when we could have been intervening earlier and saving money and saving lives and saving trauma. And we're not doing that. And so I think that there is - I think we have to keep having that conversation as well. When we want to pay for something or we feel that we have to pay for something, we find the funding for that. And in that system it has become really clear that we are spending the vast majority of our money on the criminal legal system and on expensive, really in a lot of ways ineffective institutionalization, when we could be doing a lot more earlier. [00:18:11] Crystal Fincher: Absolutely. Expensive, ineffective, inefficient. And it's just not accomplishing what we need it to - I completely agree with you there. Another option that's currently being discussed is Representative Noel Frame's wealth tax that she had proposed that has some broad support. I assume you also are in favor of implementing that? [00:18:33] Darya Farivar: Absolutely. [00:18:34] Crystal Fincher: Makes complete sense. Also in the conversation - just about education and public schooling. We are in the Seattle School District - kids are just getting back to school after a teacher strike. And there's so many issues that teachers brought up that they're facing that are - that they're struggling with - and fundamentally boil down to still receiving insufficient funding at the state level from just where we're at in terms of class sizes, special education funding - those class sizes, the staff, just the ability and training to implement those programs and support kids in the way that they need to be supported. Counseling resources, which are more necessary now than they've ever been. In your role as a legislator, what can you do to help increase the amount of funding for schools and to make sure that we're doing the best job to educate our kids and prepare them for a successful life? [00:19:37] Darya Farivar: Yeah, yeah. So school funding, man, this is the kind of forever conversation, right? This is our paramount duty and we are failing pretty significantly. And one of the areas that you see this really clearly is in special education, is with disabled Black and Brown students especially. When I look at the way that we are funding education and - yeah, when I'm looking at the way we're funding education overall, right? The fact that we are funding based on enrollment is a problem. And we're seeing that more and more show up today - especially like in Seattle Public Schools. And so we really need to rethink that and really make sure that we are funding, I think, based on need, based on where that need is and how much that need is. And it's just not working - what we've been doing is not working, so changing the way that we are funding education fundamentally - it needs to happen. The other area that I look at in funding - for special education specifically - is around inclusion. We know that isolation and segregation and restraint leads kids into the school-to-prison pipeline. And yet our funding formulas encourage it. Our funding formulas say that you get more funding for students who spend time in a segregated classroom setting. It directly encourages against inclusion and that's not working either. And we need to flip how we are funding inclusion and special education as well. And this is another area where there's a lot of great experts working on this, right? A lot of folks who have been having these conversations about whether we stick to the prototypical model for funding or do we change it up. And it's another area where I really want to get in and listen to the folks who have been working on this, who have been the experts working in the community on this as well, and listen and figure out what can I do best. For every issue that is not my expertise, I'm really interested in listening and learning and taking direction from folks who know much better than I what's going on and how I can get in there and be the best ally I can to push these issues along in a way that really keeps folks, and in this case students, who are furthest from opportunity, which I really think are Black and Brown students with disabilities at the center of these conversations. And make sure that what we set out to do, which is support these students, ultimately carries through and our end result really does support those students. [00:22:21] Crystal Fincher: Yeah, that absolutely makes sense. And I appreciate your candor. Sometimes we hear politicians who - I have every answer, only I can implement the solution. And reality is no one ever does. And even those who think they do inevitably encounter some things that noone ever could have anticipated - like a pandemic, or things like that where it's just new - and having an infrastructure set up to be in communication and in community with people most impacted, people on the ground while bringing your principles, your perspective, your own experience through there is really important. And so I just appreciate you being candid about that and being willing to listen and learn. I think that says a lot about a candidate who does take that perspective. [00:23:16] Darya Farivar: Thank you. [00:23:17] Crystal Fincher: Sure. [00:23:18] Darya Farivar: I'm really glad to hear that. I will just also offer - working in a co-governance model is what I'm interested in. That's how I work with legislators when I'm lobbying and trying to bring advocates in. And I think because of that, we need more organizers as legislators. And that's exactly what I'm trying to do. We need to be co-governing - these decisions - we're elected to represent the people, our constituents, but ultimately we're making decisions that are gonna impact them directly. And so we have to stay in constant communication with folks who are gonna be impacted by it. [00:23:48] Crystal Fincher: In another area where - right now - folks who are least able to mitigate the impacts of climate change are most impacted by it. We're seeing it here locally, whether it's people being exposed to and endangered by extreme heat and extreme cold. Just today as we're recording this, it's another dangerous air advisory because of wildfire smoke and that being a direct threat to people's immediate health with asthma and increased heart attacks, lung irritation. These are all things that are impacting our communities and communities that are most vulnerable. What are your priorities for mitigating the current impacts the climate change on these communities and addressing just greenhouse gas emission reduction overall? [00:24:41] Darya Farivar: Yeah, I think it all comes back down to holding corporations accountable for the pollution that they have created and put on these underrepresented marginalized communities. It comes down to making sure, again, we're holding people accountable in a lot of different ways. And so there's just no way around that. We need to do a better job of doing that. The Climate Commitment Act is here, which is exciting and it's making some progress. It does seem to really rely on cap and trade measures, which is a start - but cap and trade measures also allow for folks who have the money to pay off those fines and keep producing pollution as they have been. And that's not the kind of accountability that we so desperately need. It's a start - it's a good start - but if we're really gonna be meeting these climate goals, we need to be a lot more aggressive about it. And say - that's enough, you need to stop producing and operating as you have been, because it is deeply harming the world and these communities that we say that we're trying to do right by. And so again, making sure that those communities have a direct line of communication into this process - that they're not just actually - beyond having a line of communication, making sure that they're at the table is gonna be really critical, especially indigenous communities. I am really interested in getting involved in transportation as a climate justice issue. That's the angle that I am also most familiar with - Disability Rights Washington has an incredible Disability Mobility Initiative, and I've been able to learn so much from the work that Anna Zivarts is doing there, and I hope to continue. And hope that we can build on that work. We know that cars and trucks are our number one cause of pollution. And so we have to address that head on and what that means is making sure that public transit works for everybody. It has to work for the folks who are relying on it - for example, folks with disabilities who don't have another option, public transportation is it .And also making it efficient enough so that folks who do have cars and can make the choice see it as the more efficient option, see it as the better option for them in every way. And there's a lot that we can be doing there. In the 46th, we've got some brand new light rail stations, which is really exciting. I'm a big fan of the light rail - used to take it to work every day before COVID - and they're closer now. But we gotta make sure that those are connected up with our bus routes as well. We gotta make sure that it is safe to get from point A to B to C. And I think an area that - it doesn't always get the attention that it really needs when thinking about transportation - is also pedestrian safety infrastructure. That is, at the most basic level, sidewalks. In any Seattle neighborhood - if you walk around that neighborhood, there is going to be a problem with the sidewalk you're walking on. There's gonna be a route that's like trying to climb out of it - there isn't gonna be a curb cut, it's gonna be some issue with it. And that's an issue that DRW has been working on over the years, which is really exciting also. Just recently we were getting some of this construction and new sidewalks put in in Lake City - fabulous - always one of the last neighborhoods to get improvements like this, but I'm excited. It's just down the block from me now - there's a real sidewalk there and I can safely walk on 35th, a really, really busy street. Making sure that there are sidewalks where there haven't been, repairing those sidewalks, and also having that hard conversation about whose responsibility is it as well - 'cause right now it's the homeowner's responsibility to figure out how to improve their sidewalk. And that is not equitable. We talk about all of our regressive taxes and the burden we are putting on property tax as a way to fund and fix everything. It's really difficult for a lot of the homeowners, at least in my neighborhood, to be able to stay. And just adding sidewalk repair as one other additional thing is not going to help. And frankly, folks aren't doing it - it's not working, folks aren't repairing it. And folks who are trying to access transportation are bearing the brunt of it. Folks, whether they're walking or rolling, are having to go into the middle of the street to get to where they need to go. And I digress from your original question, Crystal, but I think that it is a huge part of making sure that our transportation system is genuinely accessible and safe for folks to access, to get folks out of cars. [00:29:31] Crystal Fincher: No, you're absolutely right. And our transportation system is most responsible for greenhouse gas emissions - out of all of the different sectors, it's transportation. Highways are conversation there - historical conversations about - oh, there's traffic, let's widen a freeway - without regard for the reality, the fact that widening freeways actually worsens traffic and it worsens greenhouse gas emissions. Will you be voting for a transportation package that includes further highway expansion? [00:30:05] Darya Farivar: No, absolutely not. I will not be - there's so many other better ways that we can be spending our money. It's incredibly expensive and I just think that we can do better. And our public transportation system really needs that funding - and that's the future, right? I think transit and technology is the future, so we need to embrace it now and not later. Seattle has a very interesting history when investing in city infrastructure, especially transportation infrastructure, and we've seen the results of waiting and waiting and delaying and delaying - the future is here. We gotta invest in it now. [00:30:43] Crystal Fincher: I completely agree. In terms of just - obviously, you talk to lots of people, lots of groups who are sitting here and I've asked you questions. What issues do you see - issue or issues, do you see flying under the radar that you aren't asked about very often, or that people don't regularly invite you to talk about, but that you feel are necessary to talk about and address? [00:31:07] Darya Farivar: Wow. I would say overwhelmingly people want to talk about public safety. That's the number one thing that people want to talk about. And I am always happy to talk about it - it really is a lot of what my priorities make up - is that kind of topic area and conversation. There are a lot of issues that are flying under the radar as a result of that. One that I am really interested in that I haven't been able to talk a lot about is access to the ballot and voting. We have seen that it really makes a difference. You need to be able to show up and vote - in my race, we saw that made a difference, right? We ended up with 32% of the vote - we won the primary. That's huge - we're really excited about that. And I think one of the reasons we did that was because we were so committed to going out and earning every single vote, and just trying to engage people who haven't been engaged in this process before. And voting advocacy has been a significant part of my work at DRW and something that I really want to continue to work on - making sure at least, first and foremost, folks have access to the ballot. There's some really interesting conversations happening about electronic ballot return which would be an absolute game changer in Washington to make sure that folks are able to vote even easier. And make sure that people who are ultimately gonna be most impacted by these decisions that our lawmakers are going to make have a voice and a vote into this process. I'm really interested in doing work around making sure that that ballot is accessible. In Washington, we've got mail-in voting, which is great and it increases access for a huge population, but not everybody. Many folks with disabilities are not able to access it still because you need to be able to read and write and see the ballot. And that leaves out a huge chunk of people. And these are the same people who are also relying on our public transportation system and are gonna have a hard time getting to a vote center as well. So what can we do to make sure that folks really truly have a voice in this process? It's an issue that's really important to me, especially as a first-generation Iranian - coming from a background, a family history where your vote didn't count, your voice didn't matter. It was in fact dangerous for you to speak up. This was one of the appeals of coming to the United States for my family - is that you actually get to participate in this process. And that someone like me, from my background, is able to actually run for office and do it without a target on my back as well. So I think it just can't be talked about enough. There's a lot of work to be done there. I'm really excited to be working on it through my role at Disability Rights Washington and hopefully more to come in the upcoming sessions to really improve it. [00:34:11] Crystal Fincher: Absolutely. And as now - voters are listening to you and will be trying to make a decision between you and your opponent on November 8th - as you consider this race and your position making it through to the general election with a very unique accomplishment in that all of the opponents who did not make it through to the general election have endorsed your candidacy, which does not happen very often. Obviously they took stock of both candidates and decided you were the clear choice. As you make your case to voters, what do you tell people who are trying to make that decision between you and your opponent, and how will their lives be different if they vote for you when you're elected? [00:35:06] Darya Farivar: Yeah, we are so excited and I'm really proud of the momentum we have built and the support we've been able to gain. It's been really, really humbling. And in some ways surprising, right? I ran into this thinking - I'm going to do this because I want to win. And most importantly, because I want to make sure that the issues that are important to me see the light of day, and that we have these important conversations about behavioral health in the criminal legal system that I think need to be elevated. And I guess what I would tell folks - I think that there are actually a lot of differences between me and my opponent. I think some of it comes down to professional experience, some of it comes down to lived experience, some of it comes down to philosophy as well. Again, being Public Policy Director, you get a look into the system that many folks do not get. It's a really important part of the process to show up and testify and meet with legislators. But that's about 15, 20% of what's actually happening. Most of that work is happening behind-the-scenes, it's happening at those negotiating tables. And I've been sitting at those tables. I've been a part of those negotiations, right? I've been a part of this kind of maneuvering and trying to figure out - oh, it's 11:00 PM and some random amendment got dropped on your bill. How do we defend against this now? And that is a very, very different look. We have some really tough issues to address - the ones I'm running on being front and center, really, I think for the entire state. And whatever else the Supreme Court is gonna throw at us. We need folks who can hit the ground running. And we need folks who are going to do it with a particular lens, because what we've been seeing has not been working. We need to make sure that folks who are underrepresented have a voice and a part of this process. I think that not only my professional experience points to that - starting as an organizer working - I started out working with immigrants and refugees who have loved ones with developmental disabilities and trying to figure out how do I uplift their voices and make sure they are front and center in these conversations. And so that experience, but also my own personal experience as being a young, first-generation, Iranian American woman. I really understand what it's like to not have my voice heard because I've been silenced over and over and over again. It's not easy to do this work in Olympia with a lived experience like mine, but I'm going in eyes wide open and with some strong allies in there who are going to help, or are going to be committed to these progressive priorities and trying to move the needle on these issues. And they also recognize that how to do it is by lifting the voices of communities who are most impacted. Now, figuring out what that looks like is the next challenge. And I have, I think, really demonstrated throughout my career and through my campaign that this is my priority, this is my pillar, this is my kind of north star - is to make sure that communities that haven't been heard are heard in this process. And I just - I can't underscore that enough. I think the way that your career looks and also the way you run your campaign is gonna say a lot about how you're going to legislate as well. And I think I have proven in the team that I have - I have a team of all young women from different backgrounds - from the LGBTQ community, women of color, immigrant women, women with disabilities - you name it, we've got that different representation captured in our team. And like I said at the beginning, these are people who felt left out of the process that now feel like they have a voice in this process, that feel like this is something that they can believe in. And I think that speaks volumes to the Legislature that we're ultimately trying to create. [00:39:03] Crystal Fincher: Thank you so much for speaking with us today, for helping people to get more acquainted with you, and best of luck on the campaign trail. [00:39:12] Darya Farivar: Thank you so much for having me. I really appreciate the chance to talk with y'all. [00:39:16] Crystal Fincher: Thank you all for listening to Hacks & Wonks. The producer of Hacks & Wonks is Lisl Stadler, our assistant producer is Shannon Cheng, and our post-production assistant is Bryce Cannatelli. You can find Hacks & Wonks on Twitter @HacksWonks, and you can follow me @finchfrii, spelled F-I-N-C-H-F-R-I-i. You can catch Hacks & Wonks on iTunes, Spotify, or wherever else you get your podcasts - just type "Hacks and Wonks" into the search bar. Be sure to subscribe to get our Friday almost-live shows and our midweek show delivered right to your podcast feed. If you like us, leave us a review wherever you listen. You can also get a full transcript of this episode and links to the resources referenced in the show at officialhacksandwonks.com and in the episode notes. Thanks for tuning in - talk to you next time.
We wrześniu 1932 roku, nieopodal stacji kolejowej w Ząbkach, robotnicy zmierzający do pracy odnajdują makabryczny pakunek. W worku ukrytym w krzakach, leży zmasakrowane ciało młodej kobiety. Jej twarz jest nie do rozpoznania. Śledczy stają przed nielada wyzwaniem. Czy uda im się odkryć tożsamość kobiety? Tego możecie dowiedzieć się w najnowszym odcinku podcastu! Wspieranie kanału: https://patronite.pl/ZbrodnieZapomniane Źródła: Tajny Detektyw, 1932 nr 41 Tajny Detektyw, 1932 nr 44 5ta rano, 20 października 1932 5ta rano, 21 października 1932 ABC nowiny codzienne, 18 października 1932 ABC nowiny codzienne, 20 października 1932 ABC nowiny codzienne, 30 września 1932 Dobry Wieczór! Kurjer Czerwony, 1932 nr 223 Dobry Wieczór! Kurjer Czerwony, 1932 nr 226 Dobry Wieczór! Kurjer Czerwony, 1932 nr 242 Dobry Wieczór! Kurjer Czerwony, 1932 nr 243 Dobry Wieczór! Kurjer Czerwony, 1932 nr 250 Drwęca, 4 października 1932 Dzień Dobry, 1934 nr 146 Express Mazowiecki, 1933 nr 248 Express Mazowiecki, 1934 nr 147 Dzień Dobry, 1934 nr 146 Express Poranny, 1933 nr 247 Głos Poranny, 21 października 1932 Kurjer Nowogrodzki, 5 października 1932 Kurjer Polski, 1932 nr 270 Kurjer Polski, 1938 nr 129 Kurjer Poranny, 1932 nr 272 Kurjer Poranny, 1932 nr 275 Kurjer Poranny, 1932 nr 292 Kurjer Poranny, 1932 nr 293 Kurjer Poranny, 1932 nr 294 Kurjer Warszawski, 1932 nr 291 Polska Zbrojna, 1932 nr 291 Warszawski Dziennik Narodowy, 1935 nr 51 Wieczór Warszawski, 1932 nr 298 NIEBIESKA LINIA DLA OFIAR PRZEMOCY: 800 120 002
Talk Energy #134: "Hot Take of The Day" with David Ramsden-Wood. We talk about the current state of the world. DRW's take on energy, politics, and everything else controversial! Don't want to miss this one, highly entertaining. Hope you enjoy the show! Talk.Energy Podcast: https://talk.energy/ Twitter: https://twitter.com/max_gagliardi Twitter: https://twitter.com/talkenergypod LinkedIn: https://www.linkedin.com/company/talkenergy YouTube: https://www.youtube.com/c/TalkEnergyPodcast Blockware Solutions' Twitter: https://twitter.com/BlockwareTeam Are you looking to mine Bitcoin? Mining is the best way to dollar cost average into Bitcoin at a discount. Blockware Solutions offers new and used mining rigs from leading manufacturers with an optional turnkey hosting package. With Bitcoin mining experience dating back to 2013, Blockware Solutions has sold over 250,000 ASICs, hosted 200+ MW of clients, and mined thousands of BTC from the Blockware Mining Pool.
I have had the privilege of having DRW on my daily show, and other podcast several times. He always brings his opinions, thoughts, and insights. While DRW is a controversial figure, I personally have enjoyed his opinions and industry insights. We do not always agree on topics, but we have great discussions. That is what our society needs is the ability for people to have discussions and learn from each other. This episode is no different. We have a great time and cover the energy news, and even solve some of our society issues along the way. Being banned from social media several times is a badge of honor, especially when DRW was bringing up topics and points the media was trying to shut down, and later we find out he was right.We talk about the geopolitical issues around Russia and we both agree that sanctions do not work, and hypocrisy abounds. The only people hurt in sanctions are the consumers, and why are we spending 40 billion dollars in Ukraine when we could use that money to harden our schools and keep our kids safe? I would add that we need to spend part of the money on mental health services to get at the root of the problem. One thing you will find out is that DRW does not need talking point cheat sheets, he has the stats and facts. So, an interview without a teleprompter or a note telling him when to stand or sit is refreshing. Not sure that I would vote for him for president, but he would make a heck of a great U.S. Secretary of Energy. DRW also let us know that he and Mike Umbro are the new Podcast hosts for Energy Strong! This is extremely cool, and as Sandstone Group we are proud to be an Energy Strong sponsor. DRW is the author of #hotakeoftheday and we recommend following him on his Substack, LinkedIn and other social media platforms.
In this special edition of Energy Thinks, hear Tisha Schuller's conversation on the #hottakeoftheday podcast with host David Ramsden-Wood, a.k.a. DRW.DRW started his career in the energy industry as a reservoir engineer at Anadarko in 2001. He later became the co-founder and COO of OneEnergy Partners, which was sold in November 2018. In an effort to publish his book, “What the F@&K is Wrong with Everybody Else? (What They Didn't Teach You in Business School),” he started posting his “hot take of the day” on LinkedIn. From this, the #hottakeoftheday became a website and podcast. DRW has a B.E. in chemical engineering from the University of Calgary and an MBA from Cornell University.Subscribe here for Tisha's weekly "Both Things Are True" email newsletter.Follow all things Adamantine Energy at www.energythinks.com.Special thanks to DRW for letting Adamantine share this episode with its audience. Thanks to Lindsey Slaughter, Adán Rubio, and Michael Tanner who make the Energy Thinks podcast possible.[Interview originally published on May 20, 2022]
In this special edition of Energy Thinks, hear Tisha Schuller's conversation on the #hottakeoftheday podcast with host David Ramsden-Wood, a.k.a. DRW.DRW started his career in the energy industry as a reservoir engineer at Anadarko in 2001. He later became the co-founder and COO of OneEnergy Partners, which was sold in November 2018. In an effort to publish his book, “What the F@&K is Wrong with Everybody Else? (What They Didn't Teach You in Business School),” he started posting his “hot take of the day” on LinkedIn. From this, the #hottakeoftheday became a website and podcast. DRW has a B.E. in chemical engineering from the University of Calgary and an MBA from Cornell University.Subscribe here for Tisha's weekly "Both Things Are True" email newsletter.Follow all things Adamantine Energy at www.energythinks.com.Special thanks to DRW for letting Adamantine share this episode with its audience. Thanks to Lindsey Slaughter, Adán Rubio, and Michael Tanner who make the Energy Thinks podcast possible.[Interview originally published on May 20, 2022]
Kanav Kariya (President, Jump Crypto) joins the Solana Podcast to discuss his optimism for the future and the many areas in which Jump Crypto is innovating in the crypto and blockchain space. Austin Federa (Head of Communications, Solana Labs) guest hosts. 00:49 - What is Jump?03:07 - The path to operationalizing crypto06:00 - Optimism for Crypto10:49 - Discovering and Building in Crypto with Jump14:24 - Personal Journey at Jump16:43 - What's being built at Jump?17:55 - Reasons to want to build19:39 - What does Pyth offer?22:22 - Criticism about conflict of interest26:30 - How Web 3.0 facilitates resource coordination28:46 - Data contributors benefiting from onchain data31:01 - Token Plans for Pyth31:46 - Message bridging34:48 - Wormhole, stable coins and asset tokens37:36 - Time synchronization for cross-chain dApps39:14 - State storage on wormhole for dApps40:21 - Is Wormhole layer 0?41:14 - Wrapped NFTs44:13 - Jump's position towards NFTs48:36 - Exciting things in the ecosystem49:43 - Custom silicon / FPGAs53:22 - A parallel execution model? DISCLAIMERThe content herein is provided for educational, informational, and entertainment purposes only, without any express or implied warranty of any kind, including warranties of accuracy, completeness, or fitness for any particular purpose. Those who appear in the content may have a financial interest in any projects referenced, and any content herein is not intended to be and does not constitute financial advice, investment advice, trading advice, or any other advice. This content is intended to be general in nature and is not specific to you, the user or anyone else. You should not make any decision, financial, investment, trading or otherwise, based on any of the information presented without undertaking independent due diligence and consultation with a professional advisor. Austin (00:10):Welcome to another episode of The Solana Podcast. I am Austin Federa, sitting in for Anatoly again this week. Today we've got a pretty special episode I think. I'm really looking forward to this conversation. I think it's been a long time coming with a few false starts. Today we have Kanav Kariya president of Jump Crypto, or do we just say Jump at this point?Kanav (00:32):Yeah, Jump Crypto is good.Austin (00:34):President of Jump Crypto, which maybe this time last year very few people knew existed, very few people knew what you guys were doing, what you were building, what your role in the ecosystem has been. So yeah, I guess let's just go ahead and Jump right into it. What is Jump Crypto and how did it come about?Kanav (00:51):Yeah, thanks for having me on Austin. So for context for the audience that aren't very familiar with us, Jump is historically a prop trading firm founded over 20 years ago in the pits at the CME. Today one of the largest quantitative trading firms in the world. And we started a crypto division over seven years ago. It started as an intern project at the University of Illinois, where we were running a miner in a closet and building some trading infrastructure.And today we've got over 150 people on the crypto team doing a lot of different things. So the way I like to describe our business is spitting it into three primary pillars. One is prop trading, which is exactly what we do on the other side of the house, we build trading intelligence and we scale it. The second piece is building and that's the piece that I hope we'll get to talk a lot more about on this call and it's closest to my heart and closest to the heart of the team.And that's in building pieces of infrastructure, really streets and sanitation for the space and a couple of the marquee projects that we've really focused a lot of our efforts on have been Wormhole and Pyth. And of course, along the journey, we've aligned ourselves with a lot of the major ecosystems in the place, including Solana, Terra and a whole number of others in building a lot of different things across those platforms.The third bucket is venture, I like to call ourselves accidental VCs in that we found opportunities to add value, or we had requests come in to work with partners over the last six years in various different capacities. And we found that we could be meaningful in those contexts and work with people that were solving problems for us. And that has now grown into the venture division that's deploying across the space.Austin (02:31):I want to get into a lot of the work that Jump is doing as core code contributors and supporters of projects in the ecosystem. But I kind of want to start a little bit with that journey. I would say that the transition from prop trading equities and commodities to prop trading crypto, that feels pretty organic. And there's a number of firms in the space that have also made that transition. Albeit you guys seem to have made it sooner than a lot of other firms in the industry. What was that process like of going from deciding that you wanted to add crypto to actually operationalizing that? And then we'll get into some of the journey to actually becoming builders.Kanav (03:07):The project started as an intern project at this thing called Jump Labs. There was a research lab at the University of Illinois and was meant to work on cool stuff with the university on working on fun problems. So alongside the crypto stuff we were doing when I was an intern, there was a VR project working with professors at the university to abstract away trading screens. And there was work on some interesting machine learning and networking problems.And the group has grown out of that. And of course matured out of these things, but we've definitely strongly retained that ethos. Now I want to caveat this by saying we definitely didn't have oppressions in being infrastructure builders. When we started the project in the lab that many years ago. It's been a very organic and natural process for us. And it's hard to make the instant leap from prop trading to what we're doing today, but it's easy to reason through the steps along the way.As one of the earliest large trading firms in the space, we had a lot of requests from institutional liquidity exchanges, OTC platforms, and importantly projects that were looking to solve trading and liquidity related problems. And those conversations gave way to us exploring a lot of DeFi projects and a lot of L1 platform projects that shared a lot of the problems they were thinking through on complex financial system design or programming in resource consumer environments, which are very natural and germane to a quantitative trading firm. And those conversations led to jamming about foreign ideas to implementing governance proposals, to maybe starting to write a little bit of code in them. And then all the way into committing over 50, 70 engineers that we have today in building through the space. And that process involves a few different steps. One, it involves the willingness for the institution at large to be mentally long the space. It requires a recognition and frankly a little bit of a taste of the upside.It requires flexibility, which of course, prop trading firms just generally naturally just have to have. And then everything else you can just learn along the way, right? We've done a lot of things wrong. We've stumbled over ourselves a hundred times, but you've got to keep digging shots on asymmetric upside and with all the resources that we've had at the firm I think we've been able to make some good ones.Austin (05:20):Going back to you last year, Jump Crypto had sort of a moment where it decided it wanted to make itself public. You wrote a blog post that was laying out. I wouldn't quite call it a thesis, but laying out an idea of how you view the space and the role that something like Jump could play within it. One of the things I was struck by going back and rereading this is your level of optimism in this post, right? Which is something that you don't see from many financial trading firms. You see them seeing opportunities to make lots of money. You see them making lots of money. They're very profitable endeavors, but you usually don't see optimism contained within it. Where'd that come from?Kanav (06:01):That's a pretty good question. So quant firms today are basically research and development firms, right? So the people that build trading systems, that build the intelligence behind trading systems are generally of quantitative background. They generally have PhDs in either statistics, machine learning, physics, those kinds of endeavors. And the people building the platforms are low latency high performance systems engineers that there are different optimizations across every level of the stack to build robust, scalable, fast infrastructure.The environment down to the lab five years ago was about exploring this space. It was like, what does this space mean? Right. And it wasn't about, okay, how are we going to make X billion dollars kind of getting into this endeavor? It was about exploring it. And I think it attracted that kind of people and it occurred that kind of environment.And the leadership that stays since then has kind of embodied that. And just personally I'm a raging optimist, I believe in technology, I believe in the future, I believe in building towards something bigger. And thankfully I think the firm has shared those ideas and I hope I've been able to shape a lot of the culture and behaving that passion.Austin (07:10):Where do you think that optimism in yourself comes from? There's a lot of things you could have gone into coming out of school. What about both, something, an organization like Jump, which is undoubtedly a great place to go work. But you stay there for a while now, you've worked your way up, you're now in charge of the crypto division. Where does that sense of optimism in you come from and what makes Jump the right place for that?Kanav (07:33):I feel something for Jump because they had a cool internship program and they had a lab on site and they were working on really fun problems in a well resourced environment, that just made it fun and attractive. And after I had the opportunity to intern there for eight to 10 months, I kind of got a sense for the possibilities that existed. And this is the flexibility that the whole space had. And it was like, you come in, you get to make a lot of bets, you get a lot of resources. And if you make good bets, you get more resources and then you get more resources. This is the only place I've ever worked. I think it would be rather unique to have that kind setup. And again, no, I wouldn't say it was a passion moment to come in to Jump and know that I would be able to build suites and sanitation for crypto. But I knew I would get to do a lot of really cool stuff, work on fun problems with smart people. And where does optimism come from?Austin (08:25):Yeah. I mean, you look at a space like this. It's been through boom and bust. There's tons of amazing projects being built in the space that end up going nowhere. And especially from the vantage point of a trading firm, right? One of the secret sauce of a trading firm is it can make money in an up marketing, it can make money in a down market, right. And that is the advantage of a professional trading operation versus a more passive trading operation. But again, like those are not usually characteristics that breed optimism. Those are usually characteristics that bleed margins, where you're optimizing 1%, 2%, 3% here. So you can compound that over a year and it will make a marginal difference. But again, that's not usually an optimistic space, that's a very functional space to work in.Kanav (09:10):Yeah, it is. And traditionally I don't think it lends itself to naturally just exactly this. Jump culture has kind of always been a little bit unique. So Jump also has a number of other kind of divisions that work on non-high frequency trading stuff. Historically, since about 2011 or 2012, had a VBC arm called Jump Capital that invests in growing technologies in this space. They've had some cool endeavors in the biospace working on automation there in healthcare.And so the founders have generally been optimist. They definitely believe in the future. They've been able to take shots at things that are going on. And even if it's not naturally germane to the trading business in and of itself, the culture itself lends itself to being able to do something like this, which is a really awesome combination of knowing how to monetize, but then also knowing how to build. Yeah, it's been an absolute pleasure to be able to soak in from that environment.Austin (10:04):Let's look at the building for a bit. I think it's pretty open secret at this point that Jump are core contributors to Wormhole and Pyth, you've been very heavily involved in that process. Take me back to some of the early days there where you are internal to Jump, and you're saying like, "Hey, we need to do more than just trade and invest in this space. I think we can actually build." And especially you're talking about this from the perspective of sanitation and roads and the very base level infrastructure. Crypto's been around for a long time. I think most people coming into the space in that time horizon wouldn't have necessarily looked at and said like, "Oh, there's very base level features that are missing from this ecosystem." What was that both discovery process like, and then the process of convincing everyone internally that this was worth dedicating resources to?Kanav (10:50):Yeah, the discovery process was very organic. We had a lot of inbound from people looking to solve trading and liquidity problems because a lot of people in the space, even though we were quite kind of new of our trading presence, and as one of the early trading firms that really was trying to make bigger pushes in the space. When you get to talk to awesome founders every day about all the problems that they have and get to build relationships with them, you start to uncover a lot more of the problem space that exists, start to internalize a lot of it.And once you've got the opportunity to sit in that for a little bit, and I'm sure you see this today. We are much later on than we were when we made a lot of those big switches, but there's still a lot of opportunity, right? When we were kind of ideating on the origins of Pyth, the conversation we had was, look, our whole thesis at Jump Crypto is to be as long aligned with the space as possible, right? We're trying to get the maximum exposure we can on the space that we think is going to be explosive. And we're trying to ideate this ways which we put that quote unquote trade on, right? The best way to put a long trade on in a growing space, and the best mode to value capture is value creation. There's definitely a lot of inefficiencies created by hyper growth, right? And there's room to capture those inefficiencies. But those are small in magnitude relative to the absolute value creation at play.And then there's a value creation capture correlation that you think about there. So if you think about it in that lens and you know that you want to be big contributors to the space and just aim to create a lot of value to both, then you start thinking about what the opportunities are within your realm to be able to engage in that capacity.Austin (12:27):But at some point there's a meeting, or you have a boss who you report to, and you have to go down and sit down in front of him or her and say, "Hey, I want to spend a lot of money to hire a lot of engineers to do something that's going to be totally public and totally open source at a firm that historically likes to stay out of the news."Kanav (12:46):It was a few meetings.Austin (12:46):Yeah, I'm sure.Kanav (12:46):And it's kind of baby steps along the way, or big steps along the way that compound into a complete shift and a big switch of that nature. We had this summit, we called the August summit a few years ago. And we went down to an offsite location and we talked about what being in this space means for us and how we differentiate. And I remember we showed up with these sheets that we went around and distributed to people. We were like, this is the toolkit that we have. This is the opportunity set in the space.And everyone kind of had their own, things went on, but that was one of the approaches that I've taken. And if we believe this is where the space is going, this is the opportunity set that we can tackle. And these are the levels that we have to pull, right? And then you socialize that and you try to convince them people that there is opportunity to be had here and you get buy-in to take a first little step. And once you get the buy-in to take a first little step, and you kind of really show the big medics of differentiation in a native space, you get the buying for the next step.And then suddenly it's the entire [inaudible 00:13:47]. You get the whole kitchen sink thrown behind you, and then you are kind of propelling to this part that you want to be at. And that's the whole thesis of Jump everywhere. You take bets with asymmetric upside and we throw the kitchen sink at things that are working. And a lot of the stuff that we were doing started working.Austin (14:02):How is that journey for you personally, going from an intern involved in a few projects now to the Jump Crypto teams over a hundred at this point?Kanav (14:11):Yeah. We've got over 150 now, hard to keep track.Austin (14:14):Wow. Yeah. From a leadership role, and from your own perspective, how has that transition been? What parts of it were easier for you? What parts were harder than you were anticipating? Scaling yourself is often much harder than scaling a company.Kanav (14:28):Without a doubt, yeah. I started in the team as an intern like you pointed out, working on software problems. I came back to the team a year later in a formal full-time capacity, working on quant problems, which was to do with predicting crypto markets, building alpha and kind of scaling that piece. And the early conversations with projects where we were trying to solve liquidity problems was an area that I got really, really interested in. And I just kind of went about trying to build that a little bit further.Over time that led to a transition from engineering and quantitative work to more conversational business development work, just having spent years across all those functions and natively knowing how to live them has been the biggest tool that I've been able to build in the toolbox. Now that doesn't teach you how to manage a hundred people, that doesn't teach you how to propagate culture. It doesn't teach you how to scale hiring strategy. Doesn't teach you how to value the troops when things are low.I definitely want to make a claim that there are many who are close to a finished product, rather than trying to be good at everything, good at every one thing, we always try to be excellent at a few things. And then by force just propel everything forward. I'd say some of the biggest lessons I've learned, the biggest mistakes we've made, definitely been in the shape of trying to shove square bags in a round hole. Where in a trading environment it's like the only people you have on your team are engineers and quants. They're just smart people that can solve any shape of technical problem you throw them at. When you move that towards sales and marketing and product and everything else, that all kind of falls apart.Kanav (16:05):And you need people that are able to natively live within specific sub domains across those functions. And that's something that we've been trying to scale in. I spend basically all my time hiring and trying to focus on making sure our zero to one projects have a lot of momentum. But yeah, it's been an awesome journey. And of course I have support from a company that's grown to a 1500 people as the largest quant trading firm in the world and so lots of guidance and help along the way.Austin (16:33):Let's talk a little bit about that work you guys are doing and actually building. So if I understand correctly, the two projects that you are mostly core contributors to is Pyth and Wormhole. Is there anything else that you'd put into that category of engagement?Kanav (16:46):That's the highest level of engagement for sure. We do a lot of things across the big ecosystems of course. We can talk all of what we're doing with Solana. We're always trying to get deeper. We built an NFD project on the Metaplex landscape after their investment as an intern project. That was a real fun one. We've been core contributors to some of the projects that are coming out on the data landscape today. We've worked on a lot of the mechanism design that goes on, on the other one. And there's a few other projects, but the highest levels of engagement have definitely been with Wormhole and Pyth.Austin (17:18):Looking at over that landscape, Pyth high frequency Oracle. But again, Oracles, they've existed for a long time. There's a number of name brand ones that got their start on the ecosystem in the 2017 range. Lots of people have had ideas about Oracles over the years, some of them have worked, some of them haven't. Similar to Wormhole, bridges have existed for a long time. Bridges are actually the basis of how any L2 works, right? Both of these are hardly new ideas I would say. What about looking at the landscape gave you guys the confidence to say, not only there's a need for something different, but we can help build something different and better.Kanav (17:57):Again, just like 100% organic. In that August summit, we were looking at some of the biggest things we could do. And a big problem that everyone kind of kept voicing to us is that they don't have access to equities data. They don't have access to fast data so that they don't have to have things like clawback mechanisms and all these different things that LPs don't get direct on every turn, right?The fundamental thing with financial oracles is that they're used to settle risk transfer. They're used to set a price at which two parties exchange value. And if that price is latent or slow or not accurate, one side gets left folding the bag. Now, DeFi, the way protocols are constructed, the side that gets left holding the bag is either the LP that's contributing to the protocol or the protocol stakers or a key stakeholder in building the ecosystem.And the takers are able to take all that value. If you are going to build something that's going to house all of OTC, if we're building something like synthetics for example, and your protocol stakers are taking the other side of every trade that happens on S-Oil or SSNP, you need to make sure that's the right price. Otherwise you're just going to get up the way down to zero. When we were ideating on what the biggest ways we could contribute is let's contribute our data. And the first idea was in let's start, let's go and figure out how we bring together a network of people to build an Oracle.It was how do we contribute our data, right? And we browsed through the category of solutions. We had all the conversations. We spoke to dozens of investors and builders in the space. And there wasn't an easy way to slot in high fidelity financial data, into existing Oracle solutions. And so we spoke with some of the founding partners of the Pyth program and came to consensus that there was an opportunity here. And that led to the first step and we just kept building sets.Austin (19:39):In your mind, what is it that Pyth offers that other Oracle solutions don't offer?Kanav (19:46):Pyth is a very hyper specialized tool for high fidelity financial data, specifically financial data for settlement of risk transfer, right? If you think about the way the market data landscape looks today, it's different across asset classes, but there is a class of people that have access to high fidelity, streaming price data that they can legally distribute and make available to a protocol, create like an Oracle program.One you need access to very fast financial data, which is hard to get and even harder to have a legal right to distribute. You want to make sure that the people who are publishing the prices are the real owners of the data so that you can set incentives for the data to be accurate, right? If you are staking the value of a third party aggregator, their third party aggregator has no skin in the game. That's one of the other kind of fundamental things that you have to think about.And third, you need to acknowledge the fact that a price is not absolute. A price for Bitcoin has about 20 liquid trading venues that are distributed across the globe that can often be fractured, that can often have all kinds of different idiosyncrasies. And that being able to accurately determine the price on most relevant venues and build a dispersion is really important. If you think about kind of all those things together, you want very fast access. You want a broad range of access of independent sources, not reporting from the same source.You want very high liveness and uptime of course, and you want kind of good legal clarity that that price can continue to be distributed because you don't want the application to suddenly get turned off when the regulator says, "What's going on?" And those are the kind of key things that Pyth has really focused on very heavily to build that piece of infrastructure and Solana was the perfect opportunity. Before Solana there wasn't a way to create a high fidelity fast Oracle. There just wasn't a need for it and there wasn't a platform for it, right. And so all those things just came together.Austin (21:49):One of the criticisms that you'll hear about Pyth is that because of its structured model here, where the people providing data are permissioned at this point and are also like firms that are professionalized trading operations themselves, that there is an inherent kind of conflict of interest in that system. With any system in blockchain, you have to assume everyone is trying to cheat, everyone is trying to extract the most value possible. How have you gone about setting up incentives to make sure that the users of Pyth and the contributors to Pyth are not at odds with one another?Kanav (22:27):Yeah. I think you made a totally fine point there in that we are building for byzantine systems, right? And so that's the kind of incentive design you've got to keep in place. I'll frankly say I think that claim is a little bit ludicrous for a few different reasons. Once you peel back the onion just a little bit, and I'll talk through some of the reasons why.Austin (22:43):Let's peel back the onion.Kanav (22:44):One, you've got to first understand that the amount of value that can be created in actually pulling something like Pyth off successfully is dramatic. And the forms that are building this are now incentive aligned to make that happen. But two, this is an open sourced protocol, it is decentralized, and you can look at exactly what the inputs are, how they're being aggregated and what their resort in price output is.Three most importantly, there are about 50 financial firms that are submitting independent price data to this article to construct final outputs. And these financial trading firms aren't friendly with each other. This is the very first time that a group of highly adversarial trading firms, banks, exchanges, and ODC players across the entire space have come together and said, "Let's go build a piece of infrastructure." And one, I think that needs to be celebrated a lot, it's a huge win.But two, the trading firm, there are 50 global financial trading firms contributing their proprietary prices directly to Solana on the Pyth program today. We have realized that these 50 comprise of between 60% to 80% of global asset class volumes at this point, given the network of participants that have aggregated around this protocol. When you are that big of market share that you're covering that kind of breadth, the participants in the protocol themselves are on the other side of each other's trades almost by definition. And so who's manipulating the price against who? Let's kind of just start there.The system of incentives that set up in this taking protocol, you can read through this on the Pyth white paper has some really intelligent aggregation algorithms that put all this data together, that identify the quality of each of these independent data publishers that then sets out a mechanism to aggressively punish providers that don't have good prices. And good prices can mean I published a malicious bad price. It can mean I have slow prices. It can mean I published, I had a bug, it can mean anything.The incentive design mechanism is meant to reward data providers that are not honest, but that have great data. And that's a fundamental difference in how system designs, we're not kind of rewarding agreement, we're rewarding prediction. And so you are rewarded for correctly predicting the price that would come up rather than for rewarding agreement between parties, and which can both have different kind of models and can both work in different ways.But there is almost no possibility for one collusion across these landscapes, given the composition of the people in the network. And the incentive structure again is obviously explicitly set up to discourage that. Third, all these forms are heavily, heavily regulated. I spoke about 20 years of its reputation and a giant, giant business behind kind of making a lot of this happen. And we're definitely incentive aligned to make this thing as successful as it can possibly be.Austin (25:39):The Web 2.0 world and the rise of FinTech apps has largely taught people that organizations that claim to be on their side often aren't. There's very legitimate reasons from a market making perspective that during the game stock run up and squeeze, users of Robinhood and other FinTech applications, their trading was turned off. Now, there's a bunch of really good backroom reasons for why that might have happened. But the effect is what matters to the retail trader, which is that they were using a platform that they thought gave them equal access to a market, that platform did not provide them equal and neutral access to a market.I think when people look at something like Pyth, it wouldn't be crazy to say that, well, the same incentives that made us think that Robinhood was on our side, could also be applied to Pyth. What is different about the Web 3.0 space and the construction of something like Pyth in your view that makes that not something someone should worry about.Kanav (26:37):Web 3.0 is fundamentally any means of resource coordination, and it facilitates that by, one, facilitating the export of trust. And the export of trust is actually one of the big reasons why the whole Robinhood debacle went on, right. They basically ran out of margin requirements in order to continue to clear trades on one side, since it was so directional.And there is this massive web of intermediaries that set up all throughout traditional finance for the express purpose of establishing trust as the FCM, the DCM, the clearinghouse, all the other three letter acronyms. And all of them exist to make sure that when a match occurs on any platform that actually settles into a financial trade.In crypto the match is the execution. And that's facilitated by the fact that you can export all the trust of executing a piece of code onto Solana, onto Ethereum, onto the blockchain itself. And that's unlocked this completely new means of resource coordination, which makes things like Pyth possible. It means that you can explicitly lay out a system of incentives in a closed loop fashion. And regardless of who's uploading the code, or who's proposing designs or architecting any of this, everybody is independently participating according to the incentives laid out very plainly by the program itself.And that means DRW and Jane Street don't have to trust Jump when they decide to publish prices to pay. That means they look at the program that's running on Solana that they can read. They look at Solana's trust model and decided they can or don't trust Solana as a platform. And then contribute to the platform that then self executes and lives on its own terms. And the fact that we can allow different kinds of state to compose in a trustless fashion is the entire revolution Web 3.0, that's basically what the whole space has been building for the last 10 years. And that's what makes Pyth possible, it simply was not possible before.Austin (28:32):What does something like Jump or Jane Street or anyone who's a data contributor to Pyth, what do they get out of it? What is their incentive apart from any rewards that might be generated from contributing data. How are they then going back and using this on chain data in their own operations?Kanav (28:51):There's a few elements. And so one, it is fundamentally a two sided marketplace, right? It has data publishers and it has data consumers. And the other interesting thing like Uber did for taxi cabs, where it created a marketplace where cars could now come online, created this marketplace where data that was once latent came online.Jump is publishing its own trades to the Pyth network. That is IP that it has the legal rights over, has only just been a cost center so far, and now has the opportunity to get monetized. And that's the same for all of the trading firms that sit in the network. It's a lot of people to turn cost centers into potential elements in the marketplace and that bootstraps the supply. The consumers of the data obviously are paying for this extremely created highly robust set of data inputs that then get aggregated. And that creates kind of flows in one direction. And then like your regular two sided marketplace, it accrues value, right?All the data publishers today in Pyth have some sort of stake of asset interest in the thing succeeding. And there is a set of incentives that then rewards them for the correct participation going on with fees, rewards, all those kinds of things. And all that is in gross detail laid out in the white paper and we can go over some of that. But the off chain applications and some of this stuff is also quite interesting, right?So if you look at kind of back office systems around the world at forms like Jump, you don't need microsecond level access to financial data, but you need that for your trading engines because otherwise you're playing at a disadvantage related to the field. But in order to make sure that your clearing prices have happened correctly in order to make charts in order to do something like a trading view, in order to get on the Bloomberg terminal or to be on a ticker somewhere, all these applications are now easily facilitated by subscribing to something like Pyth, that's living on an open kind of blockchain area. And so a lot of the off-chain use cases are getting more and more interesting I think over time. The fundamental value is in creating the pricing source for on chain data. And this is kind of like an awesome thing that just falls out of it.Austin (30:56):That's a really interesting way of thinking about both the incentive alignments and the rule that the data providers versus the data consumers play in the market. Are there any token plans for Pyth?Kanav (31:07):Yes, there is a token plan for Pyth. You can read all about it on the white paper, no comments on timing or anything of that at this point. And that's going to be a networking governance decision, but I'm sure in the near future.Austin (31:16):Transitioning over to Wormhole, which is the other project that Jump is heavily involved in as a core contributor of the code. When people look at wormhole, I think it's very easy to look at it and say, asset bridge, multi chain, cool, fundamentally utility. The first thing I noticed when we were talking about this and looking through it is this whole component of allowing different smart contracts on different blockchains to communicate with each other. I think most people understand how asset bridging works. Can you talk a little bit about this whole concept of message bridging?Kanav (31:51):Yeah. And this also kind of goes back to your question on, how do you decide that there's an opportunity here when bridging is something that people have talked about for a while? When we were kind of ideating with everybody else on kind the Pyth's team and the network on how Pyth goes across chain. Hendrick and team were building Wormhole as Solana Eths token bridge on the hackathon project at [inaudible 00:32:17].And I called Hendrick and I asked him, "Look, is there a way to generalize this thing so that we can get Pyth messages across?" We're building this Oracle thing on the best, fast, scalable censorship resistant message bus we can, but we want to get it to all the other ones that operate on a slightly different resolution. And through the course of that conversation, we came to a conclusion that enabling generic message bosses to allow this cross chain composability in a much more high dimensional fashion than just the token bridge word was a massive opportunity set that had to be filled.And so when we launched last August as a completely generic message bus. And what that means is that any piece of state that is created or lives on a blockchain can be included as a message that then gets communicated to any other blockchain environment. And so if you think about Oracles, you think about a governance board, right? Uniswap passes a governance board on Ethereum, produces workloads on a lot of different chains. The outcome of that governance board has to, in a secure, reliable fashion, be communicated to all the other geographies that Uniswap lives on. That needs to be encoded as a message.And so Wormhole has outpost contracts on every chain that is deployed, it is deployed over eight chains today. The outpost contract just listens for a message that is sent to that contract and the Wormhole network of guardians attests to that arbitrary binary block. That block can then be picked up, relayed to any other blockchain environment, verified that is coming attested from the homeowner network and then decode to do anything arbitrary and interesting. And so generic message process have really exploded over the last year. We've seen so many awesome applications being built on it. And I think we're just kind of scratching the surface, right? There's a lot to do here.Austin (34:04):When I think about messaging, I think about how a lot of the models right now for cross chain communication of assets are a little tedious and maybe have more risk inherent to them than are necessarily required. A very centralized example, USDC, right? You can go to FTX and you can withdraw USDC as an ERC-20, as an SPL token or across several different networks. And what's happening there largely is because the mint authority to that is centrally controlled. They're able to issue new, quote unquote new USDC natively on each layer that USDC is supported on. Do you see the capability of developers using something like Wormhole to make that possible for fully decentralized, both stable coins and just asset tokens?Not only possible, but already widely adopted in the Wormhole X asset framework, right? There's over four and a half billion of assets in the token bridge today. And the word token bridge kind of has meant a lot of different things to people at different points in time, right? The old token bridges were bidirectional, state sponsored bridges that sovereign ecosystems would run to communicate to Ethereum, to get liquidity in as soon as possible.And then if you send that across a different bridge, then you would have like a double wrapped and triple wrapped implementation and just an absolute UX nightmare. When you use something like Wormhole's X asset framework, you retain complete path independence as you move assets across the ecosystem. Once you're registered as an X asset, let's take USD as an example, there's a couple billion dollars of USD on the bridge today. It flows throughout the ecosystem using Wormhole on the back end, Terra bridge money, uses one more on the back end to expose one of many front ends to users.When USD flows from Terra over to Ethereum or to Solana to Polygon and then to Avalanche, it retains the same representation on Avalanche that USD flowing from Terra to Avalanche directly or through any other part in the ecosystem would retain. It's a truly cross chain native asset. It doesn't fracture liquidity, it fungus seamlessly, and it allows a lot of cool composition.If you look at something, now like the result in second order effects of this, it's this theme that we've been calling X Dapps, right? So cross chained apps. And we've seen kind of the first marquee deployment of one of these apps in the form of X anchor, which is deployed on the Avalanche chain now, right?And X anchor is just a light set of endpoints that's deployed on Avalanche. And all that does is it lets you kind of hit some functions that then really assets and/or messages bundled or separately or back to the Terra blockchain and then trigger state transitions on the Terra site. Anchor contracts don't need to be deployed to every chain. You don't need to replicate state everywhere, you don't need to stay synchronized continuously. But you allow for outposts and communications and different chains to then communicate back to the home chain using messages and assets. And now the USD that's in the X asset standard can be deployed to X anchors everywhere. And it's a much faster, much more robust getting strategy that has far less communication over.Austin (37:07):Let's dig into just a little bit on like a technical level too. When you're talking about X Dapps or cross chain Dapps that are communicating via Wormhole, you're inherently talking about fractured state across multiple L1s or L2, it's unavoidable when you're ... anything cross chain is inherently working under a fractured state model. How fast does that time synchronization need to be for developers to actually deploy something like an AMM or a club across chain and actually maintain price parody and appropriate liquidity between them.Kanav (37:42):Yeah, I'm glad you brought this up. There's a few different programming models for how cross chain Dapps works, right? One is you try to state synchronize as aggressively as possible. You keep sending messages back and forth. You have allowances, risk limits, tolerances that allow your apps to communicate. And the other is this X Dapps framework where state only lives on one chain and you allow people from other chains to then interact with it.Now, of course that also comes with its own downsides, right? If you look at something like a club and you're trying to trigger a cross chain swap using the club from another chain, you are inherently incurring the latency of the two blockchain transactions and the finality assumptions that you want to kind of work with that. The more stateful your application becomes, obviously the more latency and risk constraints everything through. With something like a lending protocol or like a cross chain anchor, things like that. They are less stateful than something like an order book, but order book is probably the most stateful you can get right in the spectrum of applications.And so any cross chain swap design inherently has to have some additional liquidity back then, that's like fundamental, right? You can ask people to take risk on your behalf. You can have the protocol take risk on your behalf, but that risk exists. There's a lot of ways to program around it and create better user experiences, but fundamentally that's a real problem and somebody has to be compensated with that risk.Austin (38:56):For the X Dapp framework, are you looking to actually be able to offload compute to the wormhole level there? Or is it really just ... The natural extension of this seems to be that eventually there's some sort of state storage on Wormhole that Dapps are able to actually access and leverage with some functionally side chain compute resourcing. Are you guys thinking about that as well?Kanav (39:19):Yeah. The fundamental cross chain thesis is that there are going to be independent, specialized compute environments that attack their own communities, their own audiences and their own apps. And Wormhole is away for folks to leverage state that results from these autogenous environments and compute the solutions on these environments to compose.And you can cut that in a million different ways. You can leverage Solana as a state execution machine. You can leverage Terra as your stable coin asset layer and you can represent this third thing as a NFT thing, or you can bundle them all in. But the Wormhole vision itself right now with all the genetic message capabilities that are out there, in the near term roadmap doesn't need to build an execution layer of its own. It can naturally extend to it. I think you're definitely kind of pointing to something that's relevant.But I don't know if that's the lowest hanging fruit given the capacities that exist in current blockchain compute environment. The vision of course is to make people, Web 3.0 users rather than blockchain users or L1 users. You basically want to deploy resources to the most relevant execution environment with the right community, that's creating the right apps and then expose that to at a higher order to consumers.Austin (40:24):Would you describe Wormhole as layer zero?Kanav (40:28):I'm rather old school, I think of layer zeros as networking protocols and internet backbones and things like that. I think it is maybe a useful analogy for kind of blockchain audiences given how we've very economically can't use the word L1, so I don't have an allergic reaction to it, but it's not my first word of choice.Austin (40:46):What would your first word of choice be?Kanav (40:49):Interoperability protocol. I'm not that creative.Austin (40:51):Yeah. Wormhole is also supporting wrapped NFTs, which is kind of an interesting concept. I think most people don't think of NFTs as something that's been bridged and quite frankly, the numbers on Wormhole on bridge NFTs are quite low compared to the success as an asset bridge or a messaging bridge. What was the original idea of using wrapped NFTs? And why do you think it hasn't caught on as much yet?Kanav (41:20):I think cross chain NFTs as a story are just beginning to play out. So there's about 16, 1700 on the NFT bridge itself. And again, NFTs are also cross chain fungible and composable across environments. They are also part of the X asset framework. And so X assets can mean anything. It can be in rebasing assets like STE, it can be in NFTs. It can be in fungible assets. It can mean anything else, right?The NFT story started to play out as a result of new other ones trying to access marketplaces that supported one or the other chain, right? And so you get to access as new audiences, you get to create experiences with different communities. You get to access different user bases, but we're seeing the experiences get a lot richer. So you see something like [inaudible 00:42:00] come out recently, they got featured on Bloomberg for new cross chain staking program where they have in game elements that kind of change based on cross chain NFT staking that are different experiences with different communities. And much like the asset bridge has that kind of globalization and cross pollination of commercial kind of elements. Cross chain NFTs are globalization kind of culture. And incorporating a lot of those elements across games that live on Solana, that live on Terra, that live on other environments and just creating those kind of richer experiences.And so we're seeing people make NFTs on one chain, come to Solana, fractionalize them, trade them, put them back in, move them over to OpenSea on Ethereum. There's all kind of interesting use case patterns. And so it's definitely been less aggressively adopted than the explosive token bridge or the other generic message applications. But there are still 16, 7,000 NFTs, there are a lot of teams using it for cool and innovative stuff that we just kind of keep up out of the wood works every some time.Austin (43:02):Do you think that's social? Do you think that's technological? Do you think that's just like the ecosystem hasn't matured enough? I think I'm surprised how much ... well, I guess surprises maybe the wrong term. People have a lot of emotional attachment to an NFT, in the same way they don't have an emotional attachment to a Bitcoin. They may have emotional attachment to the concept of a Bitcoin, but I would be upset if I lost my particular Degen ape, even if I got a different one for the exact same value. Do you think that factors in at all to how people view the concept of wrapping an NFT, that it somehow weakens the authenticity?Kanav (43:39):I think for a lot of purists, it does. I think it was just so worthy, right. For the most part, people aren't even going to realize, the large end of this consumers like buying these things, an NBA top shot or air, or any of these other platforms, it's something on the app for them. And eventually it's going to be extracted away as we draw to Eth, we draw to Solana, we draw to wallet, connect wallet, and it's going to be kind of as simple as that. And so we're always going to have purist stakes, but I think that's going to remain within our little chamber here.Austin (44:05):For Jump Crypto in general, how do you view NFTs? There are obviously firms now that are dabbling and market making and NFTs. Is that something that you've looked at and if not, what was the decision not to enter that space yet?Kanav (44:19):It just doesn't take a lot. We are looking at trading opportunities. You are looking about margins, you're looking about what predictive offer you can have, like what the edge you can have on a traders and then how many times you can apply that edge, right? It's just as simple as that. And even if you can get a 30% margin on something that trades a hundred million like week one, I mean, [inaudible 00:44:40] now.But if you have a low volume asset class, even if it has slightly higher edge, and it is harder to predict and more dimensional, this is on a good researching decision. So as that volume changes, we will continue to stay on top of it. And I don't know if these are trading tens of billions of dollars every day, and have really interesting datasets, I'm sure we'll be trading them.Austin (45:00):If the market hundred X in size, you wouldn't be opposed to it, it's just the sizing opportunity issue right now.Kanav (45:08):[inaudible 00:45:08] you can't be the richest man. It's about identifying if there's opportunity and executing all native there is.Austin (45:14):Looking at wormhole, one of the things I do want to touch on is the wormhole hack and exploit that happened a little while ago. It was one of the larger bridge hacks at the time. It was eclipsed a few weeks later by an even larger hack of another bridge, also targeting stolen Eth in this process. I'm sure that activities and projects that Jump has been involved in have had larger losses of money or similar volumes of money just based on the area you operate in. But this is one that inherently to the nature of Web 3.0 is very public. How is that like internally knowing that your core contributors to a project that suffered this kind of exploit, and also that failure is now a public failure, as opposed to maybe where it would've been a private failure beforeKanav (45:56):Building is hard, building in the open is even harder. And building in a decentralized open space where there's a large network of participants, consumers, affected people, the stakes we're playing in, right? That's the stakes that every DeFi application, that every L1 at every bridge and that everything in Web 3.0 that aims to do something meaningful inherently adopts and has to learn to deal with.The hack was big punch in the gut, obviously a big financial loss as well. The fundamental nature of smart contracts is that the code and code can have bugs. And this exploit was kind of deep, deep, deep down in the stack, in kind of like Solana instruction verification account check that was missing. The auditors listed our team that has independently been one of the biggest bug bounty finders in the space missed, and code based at the opportunity to be out in the wide for seven months, kind of had unchecked.The day of the hack, of course really, really rough. Jump is not used to being a public institution. So this was like you said, a very public kind of fallout in nature. I can't possibly have been prouder of the way the team reacted to this incident. We kind identified it within short course of it happening. We pulled the meeting room together, identified the bug, fixed up a batch, managed to coordinate the guardian network to bring it up, bring it down, announce our intent to refill the gaping 320 million hole within an hour of the incident being reported on, and brought the bridge back up within 18 hours to end to end.Building bridges and building cross chain is very, very hard. And that's where the reward for it, building it right, is even harder. You don't even make 320 million decisions very lightly, and this should hopefully signify you how much conviction and faith we have in the code base in bringing it back up in 18 hours. It should tell you about where we think this whole space is going and where Wormhole is going and where interoperability is going and what a core piece of infrastructure in that realm would mean.Security continues to be extremely, extremely top of mind. We have a 10 million bug bounty. We have an internal red team that's basically thinking about breaking Wormhole and our key projects every day. We have multiple audit from [inaudible 00:48:12] with lots of audits going on, pretty intense security review practices, all of which can be found publicly online. And I'm incredibly confident that Wormhole has come out more stronger from this incident. The team has come out kicking and that we're building one of the best and most trusted inter op solutions out there.Austin (48:32):Looking across the ecosystem, let's say over the next 12 to 18 months, what are you personally most excited for and what keeps you up at night? What do you still have worry around?Kanav (48:44):I'm looking forward to a whole bunch of things. So definitely very excited about all the advancements that we are seeing in the succinct proof and zero knowledge space. That stuff is just awesome, it's magic. And I'm just so excited to see all the things that's going to unlock for us. There's a lot of interesting problems in the hardware acceleration space that need to be made to make that possible. There's a lot of problems algorithmically that are kind of being uncovered there. And I think hopefully this conversation has lent on that we have a big infrastructure mindset. When I say streets and sanitation, that's kind of what we think about every day. That's what we're looking forward to. And on what we can build to and contribute to that.Austin (49:19):You said something I got to get a little more info. You said specific hardware to accelerate certain kinds of applications. The only place we've really seen this so far across the entire crypto landscape is ASICs for Bitcoin mining. You see GPU mining optimization, but again, nowadays I wouldn't necessarily even call GPU specialized hardware. It's really commodity hardware at this point that's just deployed for a specific application. When you're looking at the space, where are you seeing actually custom silicon or FPGAs becoming something that it makes sense to deploy?Kanav (49:50):Yeah, I mean, definitely for zero knowledge provers, right? So like two verification times have compressed a lot to the point where it's pretty feasible on most blockchain environments today. But proving itself is still super, super resource intensive. That's where there's a lot of simple math operations that can be encoded into Silicon and into FPGAs or ASICs to speed up the process significantly. And that's where we are seeing a lot of adopt. There's already a lot of people working on this on hardware acceleration using FPGAs, maybe even ASICs on zero knowledge provers.It's a little bit of like it's tough to say when the right time is because there's new changes like algorithmically coming out all the time with the new advances in new papers. And so when you spend a whole bunch of time just optimizing Fast Fourier transforms. And then the next paper makes Fast Fourier transforms not relevant. It's tough to make a decision on when the right time is, but I know there's a lot of work already going on into it. And it's a space that we are very familiar with and that we are also excited about. And mostly, mostly positive stuff on the regulatory side.Kanav (50:56):As of recently I think there's a lot of good faith engagement from regulators around the world on setting frameworks and policies for how kind of all this stuff gets put into place. Outside of maybe China we haven't seen anything very aggressively or handed on cutting off innovation. We even saw India now finally starting to open up. And so I feel more optimistic about the regulatory landscape than I did 12 months ago. We need a new influx of builders to keep coming and building cool experience and leveraging this technology where we're seeing that happen. We need capital being continued to commit to this space where we're seeing that happen.Austin (51:35):The inverse of that question, what are you most concerned about on a macro level for the space still?Kanav (51:39):Asset pricing is of course highly dependent on macro environment and that is unrelated to crypto, right? And there's just like, it's its own thing. And so we'll see price movements on a different time scale. And if you see a very sustained global macro depressed environment, then we're going to see less capital, less builders and less momentum in the space. And I think that's probably the biggest overhang we have today.Austin (52:03):In the long run we're all dead.Kanav (52:05):In the wrong run we're all dead. That's right, so let's keep building.Austin (52:09):Yes. One kind of last question here, I think if you rerun the clock maybe three or four years, the prevailing wisdom in this space was not that traditional financial institutions were going to expand their vision and embrace blockchain and we'd call it Web 3.0 at the end of the day. And you'd have Twitter profile pictures of NFTs, you'd have Jump Trading building software that's open source for a decentralized environment. And we really have seen that that is what was originally pitched as a forked parallel path of economic development.Austin (52:42):It's a little bit more twisty curvy than we thought it was going to be. And there's a lot more integration with traditional companies. As crypto has a thesis about it, that it's moving more consumer, right? Across the spectrum you see more normies getting into crypto in one way or another. Does the existing market of specifically the United States and Europe where you see very few competitors within an ecosystem.Austin (53:07):There's basically only two phone companies. There's basically only three cell phone companies. There's basically only four internet provider companies. Across the spectrum you see very non-competitive markets. When you look at the consumer landscape in the United States, do you imagine that we're going to see similar patterns rolling out there as we saw in the financial industry, or we really are going to go back to that idea of a parallel execution model?Kanav (53:30):Yeah. I'll strongly state that I don't hold a heretical view of this kind of being a completely forked off parallel path that has no relevance to anything that we do today. I think it's an amazing technological invasion that gives us tools to coordinate resources in an untrusted environment. And that's unlocking a lot of magic.Kanav (53:49):But that again bleeds in with the rest of the real world, which is also big and has its own dramatic pieces of innovation and with a whole bunch of other stuff going on. I think one of the most exciting things has been kind of the global equalizer that crypto can serve to be. Yesterday we saw Polygon come out with an integration with Stripe. And these are three kids from India that had no early supporting or backing that kind of boosted the network on their own and are now competing on a very, very competitive landscape with people from every single part of the world that are very well resourced, competent teams.Kanav (54:23):We see [Inaudible] coming from Korea. We see teams from Australia and New Zealand over the [inaudible 00:54:28] guys. We see people from Berlin and the US and everybody competing on the same, not only the similar consumer markets, but also on the same capital markets. And there are network effects that accrue, but not cannibalistic network effects that accrue. That makes me very excited about where the space is going overall. When we talk about integration points itself, it's going to largely depend on [inaudible 00:54:52], right? And that's like an unsatisfactory answer.Kanav (54:55):But if you're talking about financial markets, crypto is already integrated heavily into the financial markets with 15 excellent international venues that are competing, so we already have a fractured environment. That is before the [inaudible 00:55:08], the NASDAQ, the CME groups have made their moves in the space. And they're clearly not going to be monopolies in crypto, obviously, right?Kanav (55:16):If you look at something like a telco and interactions with like cell networks still remains to be seen, whether like decentralized constructions of those kinds of things can be competitive. I mean, building telcos and stuff has such strong network effects and so many economies of scale. And it's unclear whether a Web 3.0 means of accruing that value to a decentralized organization has the ability to accrue the similar kind of network effects and so remains to be seen. But I'm excited to see it play out.Austin (55:43):I always enjoy getting to pick your brain about where these technologies are going and the intersection of a very traditional financial world with this new global system that we've all been building. But thank you so much for joining us for spending some time digging into this stuff.Kanav (56:00):Thanks a lot for having me on Austin. This was super fun and as always, love chatting, so yeah, we'll see you again soon.Austin (56:04):Thanks.
In this episode we share the story of current Tenn. State basketball player Drew Williams. He's currently partnered up with my Just Heart Apparel brand creating some unique merch for his personal brand. In this episode we go into his journey as a basketball player, the challenges and how faith and family has played a vital role in his development as a college athlete and more importantly as a good human being. You can follow him on IG @unkledrw and get his branded DRW merchandise here: https://justheartapparel.storenvy.com/collections/1949773-drew-williams-collection SUPPORT THE SHOW www.buymeacoffee.com/TheCreativeBrew SPONSORS Panels Comics and Coffee Some of the hottest graphic novels and comics out right now. They also have an assortment of merchandise, toys as well as back issue vintage comic boxes that are sure to have a few hidden gems in there. Mention the Creative Brew for 10% off of your next purchase Also share with me on IG or FB what are you reading right now? Check them out @panelscoffee or go to panelscoffee.com Elevate Coffee Trading If you appreciate specialty coffee, enjoy outdoor adventure, and love helping elevate the lives of children around the world, then you are going to LOVE Elevate Coffee Trading! Their mission is to EXTRACT HOPE through LOVE, COFFEE, & ADVENTURES!. Free shipping in the US and every bag of coffee helps sponsor health and education for children in coffee producing countries and areas of need in the USA. Use promocode elevate21 on your next order and on Follow their journey on social media @elevatecoffeetrading, and visit online at elevatecoffeetrading.com to start Extracting Hope together!" Astropad If you're a digital creator like me and you use your IPad for your illustration or design work, Astropad can transform your IPad into a professional tablet, allowing you to use Photoshop, Illustrator and your other programs right from your IPad. They have great discounts going on right now for students and educators right now! Check them out at astropad.com or on social @astropadapp Cobo Pod Is a boutique video and audio production studio in Oceanside. If you're a podcaster, vlogger, or content creator you really should swing by and try the venue for yourself. I've had guests on my shows tell me how professional the set up is. they also have a sound coach and photographer on staff to help you in every facet. Book your session at cobopod.org Ending music to this episode is brought to you by 2MyndzAlyke be sure to check out their music and give them a follow on Facebook and Instagram at @2myndzalyke Branding Work I Media Inquiries I Speaking Engagements Contact me IG: @quantallangford IG: @thelangfordstudio IG: @thecreativebrewtv FB/thecreativebrewtv www.langfordesign.com info@langfordesign.com
Crain's reporter Katherine Davis talks with host Amy Guth about why companies come to Chicago to boost innovation, as groups including Tyson Foods, Caterpillar, the Department of Defense and many others, have all opened hubs in recent years. Plus: Lightfoot says the requirement to show proof of vaccination could end within weeks if COVID metrics keep dropping, three $8 million-plus homes just found buyers without hitting the market, trading firm DRW bulks up on West Loop office space and Illinois appeals temporary order blocking school masking requirement.
Wir unterhalten uns darüber, wie es uns eine Woche nach Aktionsstart geht, warum Dialekte toll sind und welche Hoffnungen wir haben. Hier ein paar Links zu Beiträgen: https://srv.deutschlandradio.de/dlf-audiothek-audio-teilen.3265.de.html?mdm:audio_id=dira_DRW_43b21169 https://www.deutschlandfunknova.de/beitrag/theo-schenkel-von-outinchurch-supergluecklich-ueber-die-reaktionen Medienanfragen zu Outinchurch an die Zoom Medienfabrik
Therapist, creative, fundraiser, streamer, activist, bard - Connor is a hugbear and a force for good & inclusivity in gaming and Trek spaces. His recent works include DRW-16 Uprising and “The Red City.” Links to his work can be found on his website: https://thehealerdm.carrd.co --- Send in a voice message: https://anchor.fm/digresscast/message
We all have tough times, challenges and dark days. Linda Roszak Burton provides strategies for remaining grateful through the storms that inevitably come up. She is the founding partner of DRW, a firm that supports the development of positive cultures, positive leaders, and engaged employees. Linda is credentialed through the International Coach Federation and the NeuroLeadership Institute. She's going to provide tools that we can use to maintain grateful hearts.
Join us in this, our last episode of the year, where we're talking Crypto and Bitcoin ETFs with Jason Urban, Global Co-Head of Trading at Galaxy Digital – which is perhaps better known as the folks behind the world's largest Bitcoin Fund, the Grayscale Bitcoin Trust and its ownership of 650k+ bitcoin! Today we step into a bit of Jason's past when he founded and ran the equity index derivative business at a Chicago prop firm DRW and his time at Goldman Sachs where he ran its equity vol business. We talk about all the moving parts of pure flow trading, skew/cheap, skew/rich, the right side of the trade, when to get out; and his first exposure to Crypto Currencies. Jason talks Grayscale, billionaire founder Michael Novogratz & all things Galaxy Digital, from touching all aspects of the crypto universe, from mining to trading to venture funding; being on the Institutional only side of the market, whether or not DeFi is a Disrupter or tool, the FOMO aspect, staking, and maintaining the ledger, the mining ecosystem and the decentralized way of doing things while trying to solve problems in this Crypto space. If all that doesn't get you going about Crypto currencies, we still find room to discuss just what the Options space looks like in crypto (the implied vol is how much??), Bilateral trading, and of course - the Grayscale Trust going from premium to discount – and the potential for all the new Bitcoin ETFs coming out. Enjoy! Chapters: 00:00-02:19 =Intro 02:20-19:04 = Goldman, DRW, and Trading House Money 19:05-31:21 = Galaxy Digital, Are you a Disrupter?, and What's Novo Like? 31:22-44:18 =The Day-to-Day in the Global Crypto Space, the FOMO Aspect, Staking, & Solving the Problem 44:19-51:20 = Options & Bilateral Trading 51:21-01:04:47 =Create or Redeem: The Grayscale Trust and New Bitcoin ETFs 01:04:48-01:09:03 =Favorites Follow along with Galaxy Digital on Twitter @GalaxyDigitalHQ and visit their website for more information at https://www.galaxydigital.io/ Don't forget to subscribe to The Derivative, and follow us on Twitter at @rcmAlts and our host Jeff at @AttainCap2, or LinkedIn , and Facebook, and sign-up for our blog digest. And visit our sponsor, the CME Group at www.cmegroup.com to learn more about futures and options. Disclaimer: This podcast is provided for informational purposes only and should not be relied upon as legal, business, or tax advice. All opinions expressed by podcast participants are solely their own opinions and do not necessarily reflect the opinions of RCM Alternatives, their affiliates, or companies featured. Due to industry regulations, participants on this podcast are instructed not to make specific trade recommendations, nor reference past or potential profits. And listeners are reminded that managed futures, commodity trading, and other alternative investments are complex and carry a risk of substantial losses. As such, they are not suitable for all investors. For more information, visit www.rcmalternatives.com/disclaimer
Trisha Curtis and David Ramsden Wood, known to many as DRW, spend 57 minutes discussing energy, inflation, policies, and the US economy in episode 33 of the PetroNerds podcast. Trisha and David dive into the US economy and energy market and discuss several significant events that have taken place over the past couple of weeks, […]
This episode's guest is David Ramsden-Wood, the Host of the Hot Take of the Day podcast. DRW is a guy that I've wanted to have on the podcast for a while now and is someone that is outspoken in the energy content space, and he's also not afraid to speak his mind about pretty much any controversial topic there is. I've often posted about how there are few people left in this world that have principles, and by principals I mean beliefs that you are willing to stand up for and be vocal publicly about, even if it has the chance to lose you money or hurt your livelihood. I think that David has gotten to a point in his career where he feels like he is un-cancellable, and I think that's a good thing because whether you agree with him or not, I think we need more people in this world that are willing to speak up for what they believe is right. This episode is filled with discussions about the hypocrisy that is going on in the mainstream energy narrative that we are all fed from the media. As to be expected we talk about nearly every controversial hot topic in the news today and get DRW's hot take on each issue.The reoccurring reference I keep mentioning during our discussion is Bizzaro World, a fictional planet in the DC comics universe that superman visits where everything is backwards. Where up is down, and down is up, and all that you see is the opposite of what it should be. And I can't shake the feeling, we are living in that world today.Hope you enjoy the show!Talk.Energy Podcast: https://talk.energy/ Twitter: https://twitter.com/max_gagliardi LinkedIn: https://www.linkedin.com/company/talkenergy YouTube: https://www.youtube.com/c/TalkEnergyPodcast
Acknowledgement of Country// Headlines// Last week we spoke with Dimity Hawkins about the Raucous Anti-AUKUS Caucus, held on 7 October 2021. Organised by Renegade Activists, the webinar featured a panel discussion on concerns around the AUKUS alliance between Australia, the UK and the US. This morning we hear a segment of the event featuring speakers Talei Mangioni and Scott Ludlam.// Samantha Floreani, Program Lead at Digital Rights Watch (DRW), joins us to speak about the Basic Online Safety Expectations, which fall under the Online Safety Act and provide the Minister with broad discretion to define the parameters for digital safety and content restrictions on social media and other online services. Public consultation on the draft expectations closes 12 November 2021- have your say here. If you're not sure how to get started, DRW and Electronic Frontiers Australia recently ran a workshop on how to write a policy submission which you can view here.// We speak with Ian Rintoul, spokesperson from the Refugee Action Coalition Sydney, about safety concerns for people currently detained at the Melbourne Immigration Transit Accommodation detention centre in Broadmeadows as guards continue to test positive for COVID-19.// While nation states are currently setting targets for biodiversity protection that may or may not be met at the UN Biodiversity Conference in Kunming, China, this week we wanted to turn our attention to the knowledge of First Nations people in protecting the lands and waters across this continent. We are joined today by Bunna Lawrie, a Mirning Elder and whale songman from the Nullabor, to talk about protecting Country and why it's important to learn and think about the animals and plants we're talking about when we say biodiversity. Bunna is a founding member of the band Coloured Stone, and has spent many years fighting to protect his Country.// Songs// King Brown - Barkaa// Surrender - Tseba (feat. PRICIE)//Jeedara (White Whale Song) - Bunna Lawrie with Rob Hirst and Neil Morris//
Linda Roszak Burton provides practical strategies for developing a grateful heart, no matter the situation. She's the author of Gratitude Heals, my favorite journal! It's part book, part journal and all inspiration! Linda is the founding partner of DRW, a firm that supports the development of positive cultures, positive leaders, and engaged employees. Linda is credentialed through the International Coach Federation and the NeuroLeadership Institute. I'm delighted to spend time with her today.
A recap of a couple fun trips, plus a tire unboxing.Listen live on Wednesday nights: http://mixlr.com/drag-racing-weekly/Connect with us on chckrd: https://chckrd.com/Like DRW on Facebook: https://www.facebook.com/dragracingweekly/Follow DRW on Instagram: https://www.instagram.com/drw_show/Follow DRW on Twitter: https://twitter.com/DRWShowSubscribe to DRW on YouTube: https://www.youtube.com/c/DragRacingWeeklyEmail us: dragweekly@gmail.com
We recap our amazing trip to Las Vegas.Listen live on Wednesday nights: http://mixlr.com/drag-racing-weekly/Connect with us on chckrd: https://chckrd.com/Like DRW on Facebook: https://www.facebook.com/dragracingweekly/Follow DRW on Instagram: https://www.instagram.com/drw_show/Follow DRW on Twitter: https://twitter.com/DRWShowSubscribe to DRW on YouTube: https://www.youtube.com/c/DragRacingWeeklyEmail us: dragweekly@gmail.com
On our second week back we discuss a little bit of recent events.Listen live on Wednesday nights: http://mixlr.com/drag-racing-weekly/Connect with us on chckrd: https://chckrd.com/Like DRW on Facebook: https://www.facebook.com/dragracingweekly/Follow DRW on Instagram: https://www.instagram.com/drw_show/Follow DRW on Twitter: https://twitter.com/DRWShowSubscribe to DRW on YouTube: https://www.youtube.com/c/DragRacingWeeklyEmail us: dragweekly@gmail.com
We're back.Listen live on Wednesday nights: http://mixlr.com/drag-racing-weekly/Connect with us on chckrd: https://chckrd.com/Like DRW on Facebook: https://www.facebook.com/dragracingweekly/Follow DRW on Instagram: https://www.instagram.com/drw_show/Follow DRW on Twitter: https://twitter.com/DRWShowSubscribe to DRW on YouTube: https://www.youtube.com/c/DragRacingWeeklyEmail us: dragweekly@gmail.com
David Ramsden-Wood and Jeff Allen on Energy Crue Connect with JP We get behind the mic with David Ramsden-Wood (DRW) and Jeff Allen (President YPA – Petroleum Club / Vice Chairman Elect SIPES Houston) and dive into everything we can in the time we had. We discuss how DRW mind works and his ability to dissect and peel back the layers on stories he hears about. Show Links Subscribe to Digital Wildcatters on YoutubeFollow Digital Wildcatters on Facebook Connect with JP
Ryan Glover CISO at Garden Leave In this episode of CISO Talk, James Azar hosts Ryan Glover CISO on Garden Leave formerly of DRW. Ryan and James discuss hiring, leading, and building a security team. Ryan shares how he conducts interviews and what he looks for in job candidates. Ryan and James also discuss the cybersecurity landscape from challenges to best practices and the biggest challenge to solve. How do we evolve away from email and passwords and the debate ensued! Tune in to this amazing podcast and make sure to subscribe and comment Ryan's Linkedin Profile: https://www.linkedin.com/in/rglov/ CISO Conversation Webinar: https://mailchi.mp/cyberhubpodcast/whistic-webinar CISO Talk is supported by these great partners please make sure to check them out: KnowBe4: https://info.knowbe4.com/phishing-security-test-cyberhub Whistic: www.whistic.com/cyberhub **** Find James Azar Host of CyberHub Podcast, CISO Talk, Goodbye Privacy, Tech Town Square, Other Side of Cyber and CISOs Secrets James on Linkedin: https://www.linkedin.com/in/james-azar-a1655316/ James on Parler: @realjamesazar Telegram: CyberHub Podcast ****** Sign up for our newsletter with the best of CyberHub Podcast delivered to your inbox once a month: http://bit.ly/cyberhubengage-newsletter ****** Website: https://www.cyberhubpodcast.com Youtube: https://www.youtube.com/channel/UCPoU8iZfKFIsJ1gk0UrvGFw Facebook: https://www.facebook.com/CyberHubpodcast/ Linkedin: https://www.linkedin.com/company/cyberhubpodcast/ Twitter: https://twitter.com/cyberhubpodcast Instagram: https://www.instagram.com/cyberhubpodcast Listen Here: https://linktr.ee/CISOtalk
Listen now | Today's newsletter is an opinion piece by David Ramsden-Wood. So, if you don't like it, blame him! lol. As a reminder, the opinion portion of this newsletter is open to any of our paying or comp members. We appreciate DRW allowing us to share this post today. Also, the podcast is DRW and I trying to talk through the recent events that led to Trump getting banned from Twitter. This is a public episode. Get access to private episodes at warroommedia.substack.com/subscribe
What would a podcast in the oilfield be without a DRW episode? In this episode, we are joined by a special guest David Ramsden-Wood, Host of #hottakeoftheday podcast, Author, and Principal at Prevail Energy. David dives into his views on the future of the oil and gas industry, his passion for the ever-evolving technologies, and what roles service companies play in the success of the operators.
Believe it or not, our episodes with E&P guys have always been the most popular - Yousuf Chaudhary's episode is solid in first place, DRW was right on his heels and Seth Blackwell was right behind him. So our buddy, Ryan Keys, of Triple Crown Resources came on the show to talk about how they've built tech internally to help them weather 2020.
A TAKE ON THE EVOLVING OIL LANDSCAPE…. This week, THE CRUDE AUDACITY sits with the Oilfield's Ultimate Advocate, David Ramsden-Wood. That's right, the Father of #hottakeoftheday lays it all on the line and pulls no punches. Our industry is changing, we are evolving, and this is our time to rise from the ashes… and David is here to help steer that narrative. He talks consolidation, G&A, transforming KPIs, debt to EBITA and, of course, the secret sauce! We hit it all! DRW is officially off the Bus Bench and leading the Charge! The Oilfield is luck to have a Titan dedicated enough to fight for all that it has accomplish. Check out DRW's BLOG : www.davidramsdenwood.com PLEASE RATE, REVIEW and SUBSCRIBE Look for us on Instagram (@thecrudeaudacity), Linkedin, Facebook, and our website (www.thecrudeaudacity.com)
Listen on —> iTunes Topics: From Goldman to DRW to DrawBridge Using Bitcoin Futures Regulation of Digital Assets Bitcoin & Facebook's Libra Blockchain Adoption in Financial Markets Guest: Jason Urban CEO DrawBridge Lending Record Date: 8/20/19 Rapid Fire: Q. What trader has influenced your life the most and why? A. I don't think any one trader […]
Denise and Jeff are together with me for the first time. Talking about a subject near and dear to all three of our hearts, DRW. Divorce Recovery Workshop is where we all three met. Debating the importance of healing, dating people in your group, and everyone has a story relevant to them all are broached in this podcast. We don't have all the answers - buy we can probably start a conversation and lead you in the right direction. Thanks guys….
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