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Keith explores how real estate strategies have shifted from the 1980s to today and explains why investors need to adapt deal structures to changing interest rates, lending conditions, and market cycles.  He highlights current opportunities in new construction and builder rate buydowns, along with the long-term benefits of fixed-rate debt.  Keith is joined by economic futurist and author Richard Vague, who challenges conventional beliefs about inflation and interest rates and explains how government intervention, war, and supply constraints shape asset prices and leverage decisions. Together, they provide a big-picture framework for understanding how today's macro environment affects real estate investing decisions. Episode Page: GetRichEducation.com/621 For access to properties or free help with a GRE Investment Coach, start here: GREmarketplace.com GRE Free Investment Coaching: GREinvestmentcoach.com Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Invest with Freedom Family Investments.  For predictable 10-12% quarterly returns, visit FreedomFamilyInvestments.com/GRE or text  FAMILY to 66866  Join Mid South Home Buyers' one-time, free live webinar featuring Keith Weinhold on September 30 at GetRichEducation.com/MidSouth to learn how Memphis' economic expansion could create new real estate investment opportunities, and have your questions answered in real time. Will you please leave a review for the show? I'd be grateful. Search "how to leave an Apple Podcasts review"  For advertising inquiries, visit: GetRichEducation.com/ad Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free— GREletter.com  Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Complete episode transcript:   Keith Weinhold  0:01   Welcome to GRE. I'm your host Keith Weinhold. Learn how dramatically real estate has changed from the 1980s through the late 2020s. We'll be sure that your approach is changing with it. Then a great guest and I discuss how war and future calamities will affect mortgage rates, inflation, and your real estate today on Get Rich Education. What if I told you that one of America's strongest cash flow real estate markets is also becoming the new brains and brawn behind AI? That city is Memphis, believe it or not. In September 30th, we're going to show you why the smart money is paying attention now, along with an investing opportunity you won't want to miss. Join me, Terry Kerr and Matthew Van Horn of Mid South Home Buyers, the largest turnkey company in Memphis with more than 6,000 homes under management, for a free live webinar, the likes of which I've never done before. We're going to look at what billions in new investment could mean for jobs, housing demand, neighborhood appreciation, and your portfolio. Everyone who attends live will also get exclusive access to the best deal terms Mid South has ever offered. Reserve your free seat at getricheducation.com/midsouth. Again, that September 30th. Don't say we didn't tell you. Save your spot at getricheducation.com/midsouth.   Speaker 1  1:35   You're listening to the show that has created more financial freedom than nearly any show in the world. This is Get Rich Education.   Keith Weinhold  1:51   Welcome to GRE from Cambridge, England, to Cambridge, Massachusetts, and across 188 world nations. I'm Keith Weinhold. You're inside Get Rich Education. You could be doing anything with your time. I'm grateful that you choose to listen to me every week. You know, real estate investors sometimes say, "Ah, there aren't any deals anymore. What they usually mean is the deal structure that they learned five years ago stopped working. There are always opportunities in real estate, but your approach changes with interest rates, lending standards, inventory, construction, government policy, and just the overall economic cycle. The best investors don't wait for yesterday's market to return. That's like someone still hoping for Blockbuster Video Store to reopen. They identify what today's market is offering instead. Just consider this historic retrospective on real estate investing from the Reagan administration to today, in 1981, the 30-year mortgage rate peaked above 18.6%. I mean, just imagine proudly telling your friends that you locked in at 17% before rates went higher. That mortgage needed its own defibrillator. By 1984, rates were still near 16%. The strategy then, the approach, was for a buyer to assume the existing owner's lower rate mortgage that they locked in a few years earlier, perhaps in the late 70s, that's how you got a good deal, assuming that existing owners lower-rate mortgage. You can't do that so easily today.   Keith Weinhold  3:50   By the late 80s and early 90s, the opportunity shifted from assuming attractive debt to buying distressed properties. The S and L crisis was upon us. Savings and loan failed lenders found themselves holding piles of distressed real estate, so investors bought foreclosures and REOs at discounts. They improved neglected buildings and then they repositioned them for income. You probably know that REO stands for real estate owned on a bank's balance sheet. All REO means is bank-owned property, but that's what you did. You found those, and then you scooped up a deal that way. As the 1990s progressed, interest rates declined, and loans also became really easy to obtain. We were tilting into the loosey-goosey easy lending environment. In the 90s, it was popular to buy an undervalued property, renovate it, raise the rent, and refinance it based on the improved value. That process later got a buzzy acronym and became known as the Burr strategy: buy, rehab, rent, refinance, repeat. By 2005, financing got more creative. This is when I was a new real estate investor. I remember obtaining what were known as 8015 five combo loans. This meant an 80% first mortgage, 15% second mortgage, and 5% down payment. You remember those? If you've been around for a while, you do. And see, this way you could avoid paying PMI, and you could control property with an astounding 20 to one leverage ratio due to that 5% down payment, but soon enough lending just got absolutely too creative and easy. The quiet lending party turned into a boisterous kegger, delivering the 2008 financial. crisis, and pretty soon I could no longer get any loans. From 2009 through the early 2010s, you could buy foreclosures and short sales at enormous discounts if you could find the loan.   Keith Weinhold  6:20   Financing was tough, but prices were super low. It might have even made sense to pay cash at that time. Fear was everywhere right after the global financial crisis. I mean, it really took courage to act when others were hiding under the bed. By 2020 and 2021, the opportunity changed from cheap property to cheap money. Mortgage rates dropped below an absurd 3% as a result of the COVID pandemic. You could lock up extraordinarily cheap debt for less than the inflation rate, and then let inflation nibble away at it like Pac-Man. Of course, a lot of us are still benefiting from that today, but that opportunity is long gone now. But it doesn't mean that deals are gone today. Where's the opportunity? One of the best ones is often found in new construction, large build. have got to keep moving their inventory as they build these homes because they have got to keep their crews busy. An unsold house for a builder-I mean-that produces as much income as an unplugged Bitcoin miner. Rather than make conspicuous price reductions, builders use their financial muscle to buy down mortgage rates for you, often in the 5% range or even lower.   Keith Weinhold  7:52   Builders might also offer you closing cost assistance, upgraded finishes, or other incentives that a single resale seller just can't match. So from the Reagan administration to today, over 45 years, the winning strategy just keeps morphing. It started out back then as assume the loan, over to buy distress, then to renovate and refi, then it was a creative financing wave, and then cheap debt, and today take the builders buy down. That's where we are. The mistake is deciding in advance what a deal is supposed to look like. The best deal structure changes, and of course, it's going to change again. The investor who keeps fighting the last war is always going to conclude that the opportunity has disappeared, but it hasn't. It's just changed clothing. Still, though, today's new purchases now-they're not as good as the deals that they were five years ago, but the best investors keep investing. They keep adding to their portfolio. It's what they've always done. Absolutely zero winning investors that are successful over time look back and say things like, "I didn't add anything to my portfolio during that 10-year span for this or that reason, the market changes, and you've got to adapt with it. That's a way to think about it. Take solace in knowing a few things. Deal structure changes over time are inevitable. And larger picture, you are investing in a product that is sustainable residential real estate in the form of long-term rentals. These entry-level properties are a scarce asset that people are going to continue to need. I mean, that's what we do here. Just compare. To the fads that we avoid around here, like NFTs, metaverse real estate, which we discussed on the show a few years ago, but said is highly dangerous, eye buying, value add apartment syndications, SPACs, or how about ICO funded altcoins? We don't chase the latest hot thing here at GRE. It is about what's sustainable, necessary, and cannot be easily disrupted by AI, and that's one reason that Get Rich Education is still standing strong after 52 episodes every year for almost 12 years now. Shortly, we're going to bring in a rather esteemed guest today on the future direction of interest rates and inflation. Interestingly, he believes that raising interest rates does not cool inflation, and that's contrary to popular belief. I'm going to press him on this and ask why, but first, our new Fed chair, Kevin Warsh. He's only been on the job a few months now.   Keith Weinhold  11:07   He is gaining a reputation for not forecasting what they're going to do ahead of time, like his predecessor had. I guess I tend to like his disposition and the way that he communicates, I sense some pragmatism with Warsh, but gosh, it often seems that a new Fed chair gets off to a well liked start, and then they do something that lots of people criticize. Like, remember in 2004, late Fed Chair Alan Greenspan suggested more borrowers could benefit from adjustable rate mortgages shortly before rates rose and ARM resets became financial landmines. In 2007, Ben Bernanke said that subprime mortgage problems were likely to be contained. Oh, right after that, they helped trigger the global financial crisis, and more recently, the Jerome Powell gaffe, which I'll mention in the interview shortly. Here's what current Fed Chair Warsh says about inflation:   Kevin Warsh  12:14   For some households, businesses, and market professionals, five years of high inflation have left a mistaken impression, that's hard to shake, that the Fed's implicit inflation target was somehow above 2% Let me reiterate, there is no soft inflation target. There is no soft implicit target, not on this committee's watch. There's only a target, and it's 2%   Keith Weinhold  12:42   It's obvious that he is serious about getting inflation back down to 2% That tends to point toward interest rate increases. Let's discuss that and more with this week's brilliant guest. This week's guest is an economic futurist keynote speaker, and he's quite a popular author. He is chair of the board of the Public School Employees Retirement System. That's the largest public pension fund in Pennsylvania. Previously, the Pennsylvania governor appointed him as the secretary of banking and securities for the Great Commonwealth of Pennsylvania, he's also the founder and president of several various organizations today, and he serves on several boards, including at the University of Pennsylvania and the School District of Philadelphia. I mean, I hardly know how he has time to do it all, but he made time for us today. Hey, it's great to welcome back Richard Vague.   Richard Vague  13:45   It's such an honor to be with you. I certainly enjoyed our last session, and it's really wonderful to be back.   Keith Weinhold  13:51   Well, and so much has changed since you were last here, Richard. First, why don't we pull back and talk to us about the general state of the national economy today, as you see it.   Richard Vague  14:04   ou know the economy was rocking along okay, and you know since you guys are such experts in real estate, I'll tell you one of the most important statistics, in my opinion, is the number of unsold homes, and by all rights, that number should be about 2 million homes. It's only about a million and a half. So there's a deficiency in our housing stock in the United States, which is, yeah, I think good news for the housing industry. It's always good to have a reason to have to grow. You may recall that in 2007, that had gotten up to four millinomes, which was a catastrophe, as we all know. So, it's the economic statistic I looked at first and most closely, and that was, you know, an okay number, and a lot of the things were going along. You know, not fabulous, but not terrible. Things were kind of moving. And all of a sudden now we have the war in Iran, and that's creating all sorts of problems for us, which you know I think you guys are concerned about. So I generally think the economy's been good, but there's a lot of dark clouds on the horizon.   Keith Weinhold  15:15   You know, Richard, I was recently sharing something remarkable with our audience. To your point, just since 2020, consider all the calamities that we've had: COVID, Ukraine, Israel, Gaza, tariffs, and the Iran War. Just since 2020, what's the result of all that? Both stocks and residential real estate are near all time highs.   Richard Vague  15:42   Yeah, well, you know, one of the things that's true is that this is something I go to in great detail in my book Paradox. But the more debt there is, the higher asset prices go.   Keith Weinhold  15:53   Yeah.   Richard Vague  15:54   You know, in the case of housing, that broadly helps middle America. In the case of the stock market, the top 10% of the country owns 87% of the stocks, so that tends to go to the wealthiest instead of to the broad population. But yeah, those two things are at highs.   Keith Weinhold  16:12   You're touching on your well-received 2023 book, The Paradox of Debt, and you know, Richard, amidst all these calamities and all this potentially unprecedented level of government intervention that we've had-you know-it makes one wonder during the next crisis, which is inevitably going to happen, will the government just step in and provide relief again? And how would that look?   Richard Vague  16:38   You know, I think that's one lesson that government has learned indelibly. Way back in 1929, in the couple of years that followed, the government did not step in, and we saw what happened. And I think there's a generation of economists that understand the role of government in a calamity, and you know it's pretty simple. You know the government comes in and crops up financial institutions as they did in 2008, simply by providing the liquidity or buying the bad assets, or the government steps in with relief checks as they did in such a massive way in 2020. But the government has learned that at least to some degree, it needs to intervene. I can't imagine that ever not being true.   Keith Weinhold  17:26   Goshmright when you think about 2020s stimulus and how emergency lending facilities were set up, you had the payment protection program, stimulus checks, mortgage loan forbearance. It's just like this government won't let the asset holders fail.   Richard Vague  17:46   Well, yeah, you know, there's failure, and then there's something that's hurtful but not quite failure. You know, I can imagine that the government will be able to prevent, in some circumstances, certain asset prices going down some amount, it's actually fairly commonplace for stocks to go down 10 or 20% I can see real estate prices going down as they have in the commercial office space. Yeah, but yes, the government will step in when those things become extreme to prevent a true calamity.   Keith Weinhold  18:19   Of course, one consequence of the interventionism is elevated inflation. I know how you've talked before about how the level of inflation is higher than most people think. For example, you'll see today's CPI numbers in the mid threes. Talk to us some more about why inflation is higher than most people think.   Richard Vague  18:41   Well, I have studied inflation, you know, fairly diligently, and inflation really relates to the constriction of supply. And if you look over the 250-year history of the United States, we haven't had that many episodes of bad inflation, and they've always related to a constriction of supply. Most of them have occurred during a war when, for obvious reasons, you know, supplies are constricted. The big 1970s episode of inflation was because OPEC, which had so much more power back in those days, acted to you know punish the United States by constricting supplies, and the price of a barrel of oil went from $4 to $40 a barrel. Yeah, between 73 and 79. COVID was another instance where inflation related to constriction of supply. That was you know people couldn't go to the meat factory to cut meat. People couldn't go to the factories to build things, so all of a sudden our supplies were decimated, and we had a short burst of very painful inflation. Well, now we've got the straight of four moves, and that is impacting the price of oil. I think it's going to impact the price of oil more going forward because. Because we've been able to rely on reserves, both the U.S. has been able to rely on reserves, and China has been able to rely on even greater reserves. And you know we haven't seen the brunt of that, but unless something's resolved pretty quickly, I think in the fall and winter we're going to see even more problematic prices there. But we know agricultural prices and even the flow of commodities like wheat are constricted by the constraints in the Strait of Hormuz and, frankly, other waterways as well. Now, one of the things the numbers that you see reported tend to underreport inflation because it looks at a year-over-year number and doesn't really capture it if it's moved up more sharply in the last month or two. So we look at it on a month-by-month. We you know we break it down about as to as many parts as you can break it down into. But PPI, which is kind of a leading indicator on the eventual CPI PPI's producer price index, it was 4.7% this last month. That would suggest to you that things which are in the mid threes now, which is more higher than we want, you know, probably trending over. Maybe not next month, but you know, over the next three to six months, I'm not going to be surprised if the number's more in the four to five range. So, yeah, I think inflation's being somewhat underreported at the moment.    Keith Weinhold  21:29   The PPI being that harbinger of consumer prices, often four to six months down the road. And Richard, the last time you were here, when it comes to checking and controlling inflation, you said something so interesting. You said that higher rates, which is typically the response in order to try to quell inflation, higher rates actually do not lower inflation, and you did not get a chance to expand on that because we ran out of time. Tell us more about why higher rates do not reduce inflation.   Richard Vague  22:05   Well, I'm going to answer that a couple of ways. One of them is higher rates don't open the Strait of Hormuz.   Keith Weinhold  22:12   Right.   Richard Vague  22:13   You can put rates as high as you want, and it's not going to open the Strait of Hormuz.    Keith Weinhold  22:16   Chairman Warsch doesn't open the Strait. Yes, he doesn't get oil produce nothing.   Richard Vague  22:20   Strait of Hormuz.   Keith Weinhold  22:21   Yeah.   Richard Vague  22:21   And so we can do all we want to on raids, which is a very blunt instrument, and it's not going to address the supply constraints that are geopolitical and war related. So, if you want to curb inflation right now, there's two things to do. One of them's you know end the war with Iran, and the other is to kind of back off a lot of these tariffs that have become so problematic. I think there's a place for tariffs. I think there's certain things China's doing that you know a call for an appropriate level of tariffs. I'm not sure we should be big tariffs on Canada and some of these other places, which have the effect of increasing the cost of our farm equipment and cars and other things like that. So, if you really want to address inflation and address the things that truly underlie inflation, and if the second way I'd answer this is to say, go look at the debt, track the data from you know 1945 or 50. You know, we really look at the post World War II period as the place we really learn things from, and over that period, increased government spending has been accompanied by reduced interest rates and reduced inflation. So, reduced interest rates and reduced inflation have gone hand in hand, and rising interest rates and rising inflation have gone hand in hand, and it's a really easy thing to look at. We've got the data on our site, but there's only been three periods where you've had big shifts in government spending and rates. They're pretty easy to look at, and there's actually empirically an inverse relationship between rising interest rates and it's the opposite of what economists tell you.   Keith Weinhold  24:09   I think, in general, economists tell us that when inflation is high, you raise interest rates because consumer spending is about 70% of the economy, and those higher rates therefore incentivize people to be savers because they're getting paid a higher yield, keeping those dollars out of the economy, and they're less incentivized to be borrowers and expand the economy that way. I think in general that's why economists say that higher interest rates reduce inflation. Do you agree with that?   Speaker 2  24:40   Well, no, I don't, and the reason I don't is because when you look at the data, that doesn't happen. These are easy things to check, and what I would say to you is that rising interest rates increase costs, and you guys know that better than anybody in the world.   Keith Weinhold  24:56   With mortgages. Yeah.   Richard Vague  24:58   What do rising interest rates do to? Cost of your mortgage.   Keith Weinhold  25:02   Everything increased substantially.    Richard Vague  25:03   It has system prices at the grocery store. Well, the grocery stores have to pay our interest for their inventory. So the more intuitive and obvious thing is that rising interest rates increase prices. And by the way, if you and I were to go look at the data right now, which I look at almost daily, that we would see periods of rising interest rates correlate to periods of rising increased costs.   Keith Weinhold  25:29   Well, I'm glad you look at history because I often say here at Get Rich Education, if you want to know what's going to happen in the future, it's easy to have a hunch, but it's more important to look at history. Can you talk to us some more about how, over the long term, higher interest rates don't suppress inflation? If that's what you're saying,   Richard Vague  25:47   yeah. The greatest rise in inflation, you know, in my lifetime was the late 1970s.   Keith Weinhold  25:55   Yeah,   Richard Vague  25:56   and for the entire time that interest rates were going up, prices and inflation were going up, and it wasn't until interest rates started coming down that inflation started coming down. So we could look at any number of periods, and if you're going to argue the opposite, you need to go find me some data.   Keith Weinhold  26:15   Okay. Well, speaking in more modern times, in the last wave of inflation that we had, the CPI peaked at 9.1% in June of 2022. This is the whole famous Jerome Powell: inflation is only transitory. Oh shoot, no, it's not. I better hike rates. He did, and then inflation came down. Is it as simple as that cause in effect, or did something else make inflation come down post COVID.   Richard Vague  26:42   Inflation came down, and it came all the way down in July of 2022. It didn't come down gradually over six, 912, 18 months. You go look at the length monthly inflation. Inflation came all the way down in July of 2022, and stay has stayed down all the intervening period until very recently with the Iran War. July of 2022 was before there was a dramatic increase in interest rates.   Keith Weinhold  27:18   Right,   Speaker 1  27:19   that's simple.   Keith Weinhold  27:21   What caused inflation to come down? Then is it because supply began to arrive on the market again?   Richard Vague  27:27   People went back to work, started building things again.   Keith Weinhold  27:30   Producing.   Richard Vague  27:32   And the problem was folks had not been able to go to the factories and make things, and so we had a you know global supply deficit. Well, the nice thing about that is that you know money incends people to scramble back to work, make things again, and you know once they start doing that, and the Fed actually produces something they call the Global Supply Chain Pressure Index. You can get it on the Fed site. If you look at it, it's supposed to be kind of at zero, and anytime supply chains are disrupted, it shoots up. And any you know, any time the opposite happens, you know there's overcapacity. It goes down, and you can see exactly when supply chains repair is happening. So go look at the. It's called the GSCPI. It's on the Fed side. You'll see that global supply chains had largely started to be dramatically repaired in the spring and summer of 2022, and naturally, supply and demand works. All of a sudden, supply starts showing up, and prices go to hell.   Keith Weinhold  28:39   We're talking with economic futurist author and Pennsylvania's governor-appointed former secretary of banking and securities Richard Vague, more when we come back on the affliction of inflation, what this means for real estate investors, and more. This is Get Rich Education. I'm your host Keith Weinhold. What if you got your mortgage loans the same place I get mine. You sure can at Ridge Lending Group NMLS 42056. They provided GRE listeners with more loans than anyone because Ridge specializes in investment property. They'll help you build a long-term plan for growing your real estate empire with leverage. Start your prequal and even chat directly with President Caeli Ridge. While it's on your mind, start at ridgelendinggroup.com. That's ridgelendinggroup.com.   Keith Weinhold  29:29   Let me ask you something: If you've worked hard to build wealth, is your money positioned to actually support your goals? A lot of accredited investors leave capital sitting in cash because it feels safe, but inflation and missed income opportunities can quietly erode its value. Freedom Family Investments offers freedom notes for investors seeking structured income backed by real estate. It's a straightforward approach built on real assets, not speculation. In full disclosure, I'm an investor myself. What I like is that their team walks you through how it all works, so you can decide if it aligns with your portfolio and income goals. Every investment carries risk, and nothing is guaranteed. But with a track record of consistent, on-time investor payouts, they built real credibility. Go to freedomfamilyinvestments.com to book a clarity call or text family to 66866. That's family to 66866.    Dolph Derues  30:31   This is the king of commercial real estate, Dolph Derues. Listen to Get Rich Education with Keith Weinhold and don't quit your daydream.   Keith Weinhold  30:45   Welcome back to Get Rich Education. We're talking with Richard Vague. Richard is the founder and president of so many organizations today. He's the author of several popular economic books. He chairs the board of the Public School employees retirement system. That's the largest public pension fund in Pennsylvania. He's in a lot of places at once, seemingly. Richard, we're talking about inflation before the break. What is the right inflation rate?   Richard Vague  31:16   Well, like I said, inflation. If you look at the entire 250-year span of the United States has it been an affliction that has affected us that often? It is political kryptonite. So when it does happen, it steers our consciousness, and it you know certainly affects your industry. But you know, if we look historically, the Fed targets 2% It's not a bad thing to target. We never really have achieved that level for any length of period. I think if you look at it over the past several decades and take out the high inflation periods, it probably has averaged closer to three. So I don't think two to 3% is an inappropriate level, and I kind of suspect it'll be a level that typifies our future once we get past, if and when we get past this more.   Keith Weinhold  32:09   Yes, not long ago, I was looking at the history of the CPI or the CPI's equivalent, and over the last 100 years, the rate is about 3.2% and we haven't hit that government-mandated 2% target, which is stated right on the Fed's website. We haven't hit that for any month in about five years now, and this asset inflation, as we know, this disproportionately enriches existing asset owners, and it widens this inequality. Something that's more recently been known as the K-shaped economy, can you talk to us some more about this exacerbating wealth inequality?   Richard Vague  32:48   Well, you hit the nail on the head. Something on the order of 80% of all the net wealth held by Americans is in the form of two things: stock and real estate. If you want to talk about wealth, it's those two things, and those two things, probably 60 or 70% of all of those in the U.S. are held by the top 10% I think it's a single-digit number of those that are held by the bottom 50% So you know, if inflation and debt growth push asset prices up over time. It is a mathematical inevitability that the rich get richer faster than those in the middle and at the bottom, and that simply means inequality will increase through time. I believe that's structural. Unless you address that in very some very specific way it will continue.   Keith Weinhold  33:43   Inflation affects real estate investors more than it does the average person because we borrow these big pools of money often at 75 to 80% loan to value, and in a sense, although we know it's bad for general society, and we do think about the K-shaped economy. Of course, inflation benefits us because it debases our debt. But even if you're not a real estate investor, even if you just own your own home, you know, Richard, I really think it begs the question: Is a 30-year fixed-rate mortgage one of the best forms of debt ever created for ordinary Americans?   Richard Vague  34:22   The 30-year mortgage, which was created, you know, that started on that path in the 1930 s for the very reasons we all know and love, which is getting Americans to own their own home, and has been, you know, a game changer for the country, and truly one of the great things that's been done, and I hope it's something that we continue to defend and preserve.   Keith Weinhold  34:46   Well, that brings up leverage and the prudent use of leverage. As real estate investors, we have this benefit of getting all these 30-year fixed-rate loans without the threat of a. Margin call being made. We're not borrowing over in the stock market. When you sign your loan documents, it doesn't say that the bank can call your note due at any time, but one could take it too far. And when it comes to debt, I think that really begs the question: Where does intelligent leverage end, and then dangerous leverage begin. What's the border?   Richard Vague  35:25   Well, you guys are experts, and I'm not. But the very simple premise is starts with not overpaying for the property to begin with. It is not an exact science, but generally speaking, I think we can tell when prices are relatively high in a given market and or a given year and relatively low, and you you'd always want to kind of be at least in the middle or somewhat on the low end before you acquire a property. So that's step number one, and then step number two is really just giving yourself a buffer, you know. We saw in the global financial crisis that real estate loans were being made in some cases at 100% of value. Yeah, and frankly, we saw at least some episodes within that folks borrowing over 100% of value, and certainly they were very happy when that happened. But we know there's zero margin for error when you do that, and perhaps even a negative margin for error when you do that. So I would think, you know, you guys know better than me, but you know, I hate to borrow it much more than like 90% of value, maybe 95% if it's a smaller asset and you have a government guarantee, and if you can do it at lower leverage, you know, 70 or 80% of value, that's not a bad thing to consider. I tend to think in the real estate world that you know I've seen many investors, particularly in the commercial space, buy things with lower leverage, 50 or 75% But then, as the asset proves itself, they work with their lender to increase the debt-to-value ratio, you know, and get more money at it over time as it becomes an increasingly proven asset. So they migrate their way from 75% to 95% over time. I think that's a logical path.   Keith Weinhold  37:20   That acronym Ninja Loans, which were popular from about 2000 to 2007, that acronym Ninja means no income, no job or assets, and you might still get a loan of 110% of the value of the property. It was profligately irresponsible. Well, Richard, in a moment, I want to ask if you have a resource that our audience can follow along with you if they would like to do so. But before I do that, do you have any last thing that you would like to talk about? Maybe something that I did not ask you, whether it has to do with the general economy or real estate or interest rates or inflations. Is there something else that we should know?   Richard Vague  38:00   What I would do is just endorse your podcast.   Keith Weinhold  38:04   Thanks.   Richard Vague  38:05   You're approaching this in a very intelligent way, and you're very empirical, and I think your listeners are doing themselves a service by continuing to follow what you do. That's a really reasonable, secure, and yet bold path towards creating wealth, then I think you're to be commended.   Keith Weinhold  38:27   Oh, I appreciate the endorsement. I'm always blown away at our following, but you have some resources worth following as well. Tell us about that.   Richard Vague  38:36   Well, we do. We have a weekly video ourselves that it's about a five-minute video, and you can go to our website, which is tycos.com. So t y c h o s.com, and you know we have data on the site. If you're a real geek, you could go in and you can look at our macroeconomic data. You know, but if you're not, you can sign up for the video, and we come out with what we hope is a short but relevant video once a week talking on some aspect of the economy, and you know we'd love to have folks join that if they're interested.   Keith Weinhold  39:10   Well, it's valuable. I suggest you, the listener, check that out. Richard oftentimes turns conventional economics on his head, just like he did with us today, talking about how if there's higher interest rates, that does not necessarily mean lower inflation. Richard, it's been valuable as always. It's been great having you back on the show.   Richard Vague  39:30   It's an honor to be with you. Keep up the great work.   Keith Weinhold  39:38   In this remote interview, I got a beautiful look over Richard's shoulders there on the screen at Center City, Philadelphia, in the ornate buildings there. I will be in that part of the nation again shortly. Big thanks to Richard Vague. If you're looking him up, it is spelled V-A-G-U-E. We've got a. A lot of terrific content coming up on the show over the next few weeks, including fresh takes on building your wealth that you've never heard before. Until next week, I'm your host Keith Weinhold. Don't quit your daydream.   Speaker 3  40:18   Nothing on this show should be considered specific, personal, or professional advice. Please consult an appropriate tax, legal, real estate, financial, or business professional for individualized advice. Opinions of guests are their own. Information is not guaranteed. All investment strategies have the potential for profit or loss. The host is operating on behalf of Get Rich Education LLC exclusively.    Keith Weinhold  40:46   The preceding program was brought to you by your home for wealth building. getricheducation.com  

The crew sizes up Bitcoin's rebound, the fight to bring Hyperliquid onshore, the SEC's new token fundraising framework, and why Stripe's OpenRouter deal could make AI inference markets look a lot like DeFi. Welcome to The Chopping Block, where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner chop it up about the latest in crypto. Tom and Tarun check in from Bhutan after lunch with the king, then the crew tackles Bitcoin's rebound, the path to a compliant U.S. Hyperliquid, the SEC's proposed Regulation Crypto Assets, and the growing overlap between AI inference markets and DeFi market structure. Listen to the episode on Apple Podcasts, Spotify, Pods, Fountain, Podcast Addict, Pocket Casts, Amazon Music, or on your favorite podcast platform. Show highlights

Roman Storm's retrial slides to April 2027. Peter Van Valkenburgh argues prosecuting Tornado Cash's developers cost real ground in zero knowledge cryptography. ======================================================== Thank you to our sponsors! Visit 1inch to swap tokenized securities, crypto and more. Simple. Secure. Self-custodial. Whatever asset you're buying - swap it at ⁠http://unchainedcrypto.com/go/1inch-sn⁠ ======================================================== Treasury Secretary Scott Bessent has declared "economic D-Day" on Iran, leaving an open question over whether the sanctions crackdown reaches Uniswap and Ethereum or stops at Iranian exchanges, where humans are in the loop. Kain Warwick and Taylor Monahan take that gap to Peter Van Valkenburgh, executive director of Coin Center, whose defense of the Tornado Cash developers rests as much on zero knowledge cryptography as on sanctions law. They cover the GENIUS Act's freeze and seize rules for the stablecoin secondary market and Roman Storm's retrial, now pushed to April 2027, where speech protections clash with prosecutors' "frying pan" theory of money transmission. The SEC's proposed exemptions, the stalled Clarity Act, and Trump's Hyperliquid all raise the same question: where does decentralization end and regulation begin? Hosts: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Kain Warwick⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ - Host of Uneasy Money and Founder of Infinex and Synthetix ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Taylor Monahan⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ - Co-host of Uneasy Money and Security Expert Guest: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Peter Van Valkenburgh - Executive Director of Coin Center Timestamps

En este tercer y último especial dedicado a Fumito Ueda con RaffaValencia, IveliasZero y Kitana Ly, cerramos una trilogía imprescindible analizando The Last Guardian, una de las obras más esperadas y controvertidas de la historia de PlayStation. Repasamos el larguísimo y accidentado desarrollo del proyecto, desde su anuncio para PlayStation 3 hasta su lanzamiento definitivo en PlayStation 4 tras casi una década de trabajo, retrasos, cambios internos en Sony, la marcha de Fumito Ueda del estudio Team ICO y la creación de GenDesign. Profundizamos en todos los secretos de una producción irrepetible: el origen de Trico, la inspiración surgida tras la relación entre Wander y Agro en Shadow of the Colossus, las enormes dificultades técnicas para dar vida a una criatura con un comportamiento creíble, el salto generacional, la participación de ingenieros de Santa Monica Studio y Mark Cerny para completar el proyecto y las razones que convirtieron a The Last Guardian en uno de los desarrollos más complejos jamás vividos por PlayStation. También dedicamos un amplio bloque a la extraordinaria banda sonora de Takeshi Furukawa, explorando su proceso creativo, las influencias cinematográficas, la grabación con orquesta sinfónica y coros en Londres, así como la filosofía musical que acompaña la narrativa de Ueda. Además descubrimos cómo se creó la inolvidable voz de Trico mezclando sonidos de animales, objetos e incluso interpretaciones humanas para conseguir una criatura única en la historia del videojuego. Tras recorrer su desarrollo, analizamos en profundidad la aventura: la relación entre el niño y Trico, la construcción de la confianza, el diseño de puzles, la exploración, la dirección artística, la narrativa ambiental, el simbolismo, el ritmo, la inteligencia artificial de la criatura y el enorme componente emocional que convierte la obra en una experiencia irrepetible. Debatimos también sobre sus decisiones jugables, sus virtudes, las críticas que recibió en su lanzamiento y por qué continúa siendo uno de los videojuegos más personales e influyentes de las últimas décadas. Un programa repleto de curiosidades, anécdotas de desarrollo, documentación y análisis para cerrar nuestro gran especial dedicado a Fumito Ueda, repasando el legado de ICO, Shadow of the Colossus y The Last Guardian, tres obras fundamentales para entender cómo el videojuego puede emocionar a través del silencio, la compañía, la arquitectura y la interacción. Escucha el episodio completo en la app de iVoox, o descubre todo el catálogo de iVoox Originals

In der fünften Folge der FM4 Game Podcast Sommerserie "Ein Jahr, zwei Spiele" gehen Rainer Sigl und Robert Glashüttner genau ein Vierteljahrhundert in der Zeit zurück. Dort präsentieren sie zwei Games aus dem Jahr 2001: "ICO" und "Max Payne". Es sind zwei Actionspiele, bei denen noch mehr experimentiert werden konnte, als das bei zeitgenössischen Produktion (abseits von Indie) der Fall ist. Dennoch sind beide Entwickler bzw. Entwicklungsstudios heute auch noch am Start - also sowohl Fumito Ueda als auch Remedy Games.Sendungshinweis: FM4 Game Podcast, 6. August 2026, 0-1 Uhr (Folge Sommer #5/26)

Send us Fan MailWelcome to the Serious Privacy podcast, where Paul Breitbarth, Ralph O'Brien, and Dr. K Royal, discuss a week in privacy in the midst of hot temperatures in Europe and multiple fires arund the world. This week, we bring you some enforcement activities, regulator inquiries, old laws for new purposes, and guidance from various regulators on child safety. If you have comments or questions, find us on LinkedIn and Instagram @seriousprivacy, and on BlueSky under @seriousprivacy.eu, @europaulb.seriousprivacy.eu, @heartofprivacy.bsky.app and @igrobrien.seriousprivacy.eu, and email podcast@seriousprivacy.eu. Rate and Review us!Subscribe today HERE From Season 6, our episodes are edited by Fey O'Brien. Our intro and exit music is Channel Intro 24 by Sascha Ende, licensed under CC BY 4.0. with the voiceover by Tim Foley.

Hey Podtimists,This week David takes the train, but it's all cool and kind of like a skateboard. Meanwhile Chase delivers packages and plays the Reaper's Game.We also took a deeper look at Sega Rally Championship a game that I (Chase) wanted to play for the show. I like racing okay???---Timestamps:(0:00) - Intro(4:49) - What David has been playing(5:02) - Mina the Hollower(8:33) - Ico(9:49) - Denshattack!(16:16) - A lil grab bag(18:17) - What Chase has been playing(18:37) - Parcel Simulator(24:56) - Bravely Default: Flying Fairy(32:32) - NEO: The World Ends with You(47:28) - Chase's Podtimistic thing of the week(56:06) - David's Podtimistic thing of the week(58:59) - Good Games! Featuring Sega Rally Championship(1:21:11) - Outro---Games mentioned:Mina the HollowerIcoDenshattack!Bravely Default: Flying FairyParcel SimulatorNEO: The World Ends with YouSega Rally Championship

FOLLOW UP: COURT MAINLY RULES IN FAVOUR OF OEMS IN UK DIESELGATE TRIALA UK judge has found mostly in favour of car manufacturers in the claims against them regarding defeat devices being fitted to cars between 2012 and 2017. The judge's decision is based on her decision that a defeat device needs to be deliberately installed to create a different driving operation if it senses it is in test conditions, but this has not been proven to be the case. If you wish to learn more, click this article link here, from The Law Society Gazette.UK GOVERNMENT CONFIRMS PAY-PER-MILE FOR EVS AND PHEVSFollowing the public consultation, the Government has announced that it will introduce a pay-per mile scheme, named eVED, for electric and plug-in hybrid cars, from April 2028. As a result of feedback they have tweaked how the proposal will work. Vehicles under three years old will not have to undertake an additional check to the mileage prior to their age requiring an MOT. A picture of the odometer and an estimation of next years mileage will be sent by the driver. Drivers can opt-in to send the Government the vehicle's mileage data directly via the connected systems on-board, if they wish. This is not mandatory. To learn more, click this electrive article link here.PORSCHE FINDS A NEW PRODUCTION CHIEFPorsche has announced that Christian Friedl will take over as Production Chief, from Albrecht Reimold. Reimold is stepping down at the end of August. If you wish to read more, click this electrive article link here.ASTON MARTIN SHAREHOLDERS FORM CO-OPMore than 50% of the largest shareholders in Aston Martin have formed a cooperative to insure themselves against any new debt deal that would leave them taking disproportionate losses. During this time, the company has restructured its debt financing, with the revolving credit facility and some of the Yew Tree financing being paid off. Financial results are due to be announced on 29 July 2026. For more on this click this link from Zetik, here. To read about the debt restructuring, click this Morning Start link here.FORD AND GEELY SIGN EUROPEAN DEALFord and Geely has agreed to a new joint-venture that will run the Blue Oval's Valencia facility, eventually producing two Ford SUVs and two Geely SUVs. Ford will bring a European Bronco inspired car and develop another C-Segment SUV with Geely. The Chinese company will be building two electric SUVs in the same facilities. To read more, click this Autocar article link here.CARWOW RUNS AD CAMPAIGN USING ANPR TO TRACK YOUCarwow is using ANPR in a UK-wide advertising campaign, encouraging owners of cars the company is targeting to sell to them through their system. Does that step over the line into tracking far too much? Does it contravene the ICO's rules on using ANPR? Click this Motor Trade News article link to read about the plan from Carwow.Click this link to the ICO's own page on fair use of ANPR data and camera systems.If you like what we do, on this show, and think it is worth a £1.00, please consider supporting us via Patreon. Here is the link to that CLICK HERE TO SUPPORT THE PODCASTNEW NEW CAR NEWS -Range Rover GTJLR has revealed a new model line for the Range Rover brand, the GT. The claim is it sits between a grand tourer and an SUV. The images issued appear to show the typical bluff Range Rover range front end, with a coupe style rear. Either this is a brilliant move to capture buyers who've lost out due to Porsche leaving or many years too late. The interior is really leaning into ‘minamilist', with a very thin screen directly on top of the dash in front of the driver and a huge screen slapped in the middle, quite low down. Prices and specifications are yet to be revealed. Click this Autocar article link, for more.Dacia StrikerDacia has revealed their latest model, the Striker. The overall design concept, jacked-up estate, is reminiscent of the Subaru Outback. Prices will start at a smidgen under £25,000, when launched in the UK, but the full price and specifications are yet to be released. Click this Motoring Research article link, for more.VW ID CrossVolkswagen has shown off images of their latest ID model, the Cross. Using the same MEB+ platform as the ID Polo, this will go up against the Ford Puma and Renault 4. There will be a variety of motors and battery packs offered, which will give ranges varying from 196 to 271 miles. Prices are expected to start around £25,000. Click this Autocar article link, for more.LUNCHTIME WATCHES: FOTU 2026Last weekend was the 2026 Festival of the Unexceptional, from Hagerty. A much loved car gathering, where the common cars from yesteryear gather and everyone enjoys their trip down memory lane. For those of us who couldn't attend, thankfully YouTube has many videos showing off the wonderful event. We have but a tiny fraction of what is out there, do go search for more and spread some love to all those who make content for us to enjoy.To watch I Drive a Classic, click on this link to see what caught Steph's eye.To watch Furious Driving, click on this link to see what caught his eye.To watch Jon Coupland Cars, click on this link as he watched the cars enter the show.LIST OF THE WEEK: 23 COLOURS WITH GREAT NAMESClassic & Sports Car have a list about some of the best named colours that you could have specified for your car. Do you agree with Andrew's choice? What would you like to have, adorning your car just so you could tell people the name of it? Click this link to check out your options.AND FINALLY: TECH BROS MAKE A BUS. AGAIN.In an ever increasing number times the tech bros design a transport ‘solution' it turns out we already have that solution, but perhaps it hasn't been maximised to exploit the customers enough. This time, Uber have designed ‘the bus', albeit named the ‘Uber Shuttle' that runs from Logan Airport, in the US, on a fixed route with dedicated stops. Click this YouTube link to then join in pointing and laughing and the ridiculousness of these companies.

Hey Podtimists,This week David visits his old friend Nathan Drake, but this gentleman will never tell how he did it. Chase also played some video games, one of which is NOT pokemon.We also took a deeper look at the Sega Saturn FMV game, Double Switch. This was suggested to us by listener Cameron. Thanks Cameron!---Timestamps:(0:00) - Intro(6:20) - What David has been playing(6:46) - UFO50(15:58) - Mina the Hollower(24:21) - Ico(30:59) - Uncharted: The Golden Abyss(34:48) - What Chase has been playing(34:53) - Palworld 1.0(46:43) - Bravely Default: Flying Fairy(1:03:54) - Chase's Podtimistic thing of the week(1:05:22) - David's Podtimistic thing of the week(1:06:56) - Good Games! Featuring Double Switch(1:28:30) - Outro---Games mentioned:UFO50Mina the HollowerIcoUncharted The Golden AbyssPalworldBravely Default: Flying FairyDouble Switch

In this episode of the Fundraising Everywhere podcast, host Cam St-Omer Donaldson is joined by Claire Stanley, Director of Policy and Communications at the Chartered Institute of Fundraising, to unpack not only what the new rules mean, but also where charities are still looking for greater clarity. Together they explore the distinction between the ICO's legal guidance and the Fundraising Regulator's fundraising framework, discuss some of the grey areas charities are navigating, and explain how the Chartered Institute of Fundraising is working with regulators to represent the sector's experiences and help shape future guidance. They explore: What the charitable purposes soft opt-in changes and what it doesn't. The difference between the ICO's legal guidance and the Fundraising Regulator's practical framework. Areas where charities are still seeking greater clarity, including common implementation questions. How the Chartered Institute of Fundraising is engaging with the ICO and other regulators to raise sector feedback and support further clarification. If you enjoyed this episode, don't forget to hit follow and enable notifications so you'll get notified to be first to hear of future podcast episodes. We'd love to see you back again! And thank you to our friends at JustGiving who make the Fundraising Everywhere Podcast possible.

英国情報コミッショナー事務所（ ICO ）は、2022年に発生した、2 段階にわたって行われたデータ侵害事件により最大 160 万人の英国ユーザー情報が漏洩したとして、LastPass に対し 120 万ポンド（約 2 億 4,000 万円）の罰金支払いを命じた。

With age assurance facing increasing regulatory scrutiny across the UK and EU, organisations are under growing pressure to demonstrate that they have effective and proportionate measures in place to protect children online. In this episode, Rebecca Cousin, Cindy Knott and Bryony Bacon discuss the evolving age assurance landscape, including new obligations under the Data (Use and Access) Act 2025, the ICO's approach to enforcement, the move away from self-declaration methods, and the practical considerations for organisations selecting and implementing age assurance solutions. If you are interested in finding more Slaughter and May tech and digital content, you can subscribe to our digital blog, The Lens and our Digital Horizon Scanning series. Additionally, subscribe to our Horizon Scanning podcast show to be kept up to date when new episodes or series become available.  

Hey Podtimists,This week David is visited by his new friend the Ayn Odin 3 and speaks on the new world that is front of him. Then Chase steals some cars in a very grand way.We also took a look at Kenji Eno's Enemy Zero for the Sega Saturn. This game was suggested to us by listener Pepsiman. Thanks Pepsiman!Here is the link to the documentary mentioned in the show https://youtu.be/S-6dNPYltr0---Timestamps:(0:00) - Intro(4:52) - What David has been playing(5:11) - The AYN Odin 3(10:49) - Stuntman(11:51) - NBA Street Volume 2(18:50) - Burnout 3 Takedown(23:35) - Marvel Vs Capcom 2(30:03) - Ico(34:45) - UFO50(42:06) - Grand Theft Auto(44:59) - Grand Theft Auto 3(51:58) - Grand Theft Auto Vice City(56:08) - Grand Theft Auto San Andreas(1:03:29) - Grand Theft Auto 4(1:23:34) - Chase's Podtimistic thing of the week(1:24:35) - David's Podtimistic thing of the week(1:25:35) - Good Games! Featuring Enemy Zero(1:42:39) - Outro---Games mentioned:Grand Theft Auto 3Grand Theft Auto Vice CityGrand Theft Auto San AndreasGrand Theft Auto 4IcoBurnout 3 TakedownNBA Street Volume 2StuntmanMarvel vs Capcom 2UFO50Enemy Zero

En este especial de Rejugando nos metemos de lleno con una de esas obras que, para mí, están en la historia más grande del videojuego: Shadow of the Colossus. Y lo hacemos dentro de nuestro recorrido por la obra de Fumito Ueda, después de haber hablado de ICO, para analizar no solo el juego que todos conocemos, sino también todo lo que hubo detrás: su desarrollo, sus ideas descartadas, los colosos que nunca llegaron, la tecnología que llevó a PlayStation 2 al límite y las decisiones creativas que hicieron que este juego siga siendo tan especial tantos años después. Empezamos hablando de nuestras propias experiencias con el juego y de esa sensación tan difícil de explicar que produce la primera vez que llegas a las Tierras Prohibidas. No hay tutoriales interminables, no hay un mundo lleno de personajes diciéndote qué hacer y no hay una gran interfaz explicándote cada paso. Estás tú, Agro, una espada, un arco y un territorio gigantesco que parece esconder algo. Y entonces aparece el primer coloso. A partir de ahí hablamos de cómo Shadow of the Colossus consigue convertir cada enfrentamiento en algo completamente distinto. Cada coloso es prácticamente un nivel entero, un puzle y un jefe final al mismo tiempo. No se trata simplemente de golpear a un enemigo enorme, sino de observarlo, entender su comportamiento y descubrir cómo puedes subirte a él. La progresión jugable es una auténtica barbaridad. El juego no necesita explicarte constantemente las mecánicas porque cada coloso te enseña algo nuevo. Aprendes a agarrarte, a gestionar la resistencia, a utilizar el arco, a aprovechar el escenario y a interpretar el comportamiento de cada criatura. Y todo eso lo hace sin convertir a Wander en un superhéroe. De hecho, una de las cosas que más comentamos es precisamente la vulnerabilidad del protagonista. Wander es pequeño, torpe y parece completamente insignificante al lado de los colosos. Y eso es fundamental para que cada combate tenga esa sensación de escala y de aventura épica. Pero también para que empieces a hacerte preguntas. Porque a medida que avanzamos, cada vez resulta más difícil pensar que estamos haciendo lo correcto. Los colosos no parecen simples monstruos. Algunos son tranquilos, otros parecen incluso ignorarnos hasta que nosotros les atacamos. Y después de cada victoria no tenemos una fanfarria de triunfo, sino una música triste y melancólica. La propia evolución de Wander nos va dando pistas. Cada vez está más deteriorado, más oscuro, más alejado del personaje con el que empezamos. Y llega un momento en el que la pregunta es inevitable: ¿quién es realmente el malo de esta historia? También repasamos el desarrollo del juego y la enorme cantidad de ideas que se barajaron. Uno de los conceptos más sorprendentes fue la posibilidad de hacer un Shadow of the Colossus multijugador, con varios personajes colaborando para derrotar a las criaturas. Una idea que terminó descartándose, pero que demuestra que el proyecto fue cambiando muchísimo durante su desarrollo. Y después llegamos a uno de los temas más fascinantes: los colosos descartados. El juego llegó a plantearse originalmente con 48 colosos. Después fueron 36, luego 24 y finalmente se quedaron en los 16 que conocemos. Y por el camino quedaron diseños, ideas, escenarios y criaturas que durante años alimentaron la imaginación de los fans. Hablamos de algunos de ellos, de sus nombres internos, de sus posibles mecánicas y de cómo algunos llegaron a aparecer en imágenes, vídeos o materiales previos al lanzamiento. Hay diseños que son absolutamente increíbles y que hacen que te preguntes cómo habría sido el juego si se hubiera mantenido todo ese contenido. Aunque, siendo sinceros, con 48 colosos probablemente el juego habría sido una experiencia completamente distinta. Otro de los aspectos que más me gustan del desarrollo es la manera en la que trabajó el equipo. El diseño de los colosos no parece haber sido un proceso completamente jerarquizado y cerrado. Gente de escenarios, animación, combate y otras áreas aportaba ideas para las criaturas. Era casi un enorme brainstorming colectivo. Y creo que eso se nota muchísimo en el resultado final, porque cada coloso tiene una personalidad, un comportamiento y una forma de enfrentarse completamente diferente. También hablamos de la tecnología. Porque lo que hizo el Team ICO con PlayStation 2 es absolutamente demencial. Las criaturas, el tamaño de los escenarios, las animaciones, la física, el pelo, las colisiones y la forma en la que Wander se agarra a los cuerpos de los colosos hicieron que el hardware sufriera de lo lindo. El equipo utilizó técnicas muy avanzadas para conseguir que las criaturas parecieran realmente orgánicas y vivas. Y, sobre todo, para que no fueran simplemente enemigos gigantes, sino seres que parecieran formar parte de su propio ecosistema. También nos detenemos en el diseño de las Tierras Prohibidas, en la importancia del vacío, de la soledad y de los silencios. Porque en Shadow of the Colossus el silencio es casi tan importante como la música. Y hablando de música, la banda sonora de Kow Otani merece un capítulo propio. La mezcla de épica, orquesta, melancolía y silencio es absolutamente perfecta. Y comentamos también la historia de la música que suena después de derrotar a los colosos: una pieza que, según se cuenta, sorprendió inicialmente al propio equipo porque no era la típica fanfarria de victoria. Pero precisamente por eso funciona tan bien. Has ganado. Pero no tienes claro que debas estar celebrándolo. También repasamos el impacto comercial y crítico del juego. Después del éxito de crítica, pero las ventas más modestas de ICO, Shadow of the Colossus consiguió llegar a mucha más gente y vender aproximadamente 1,1 millones de copias, multiplicando enormemente el alcance de su predecesor. Y, curiosamente, también hizo que mucha gente descubriera posteriormente ICO. Hablamos de las versiones posteriores, los modos de dificultad, los desafíos, los objetos desbloqueables, los secretos, las teorías de los fans y los detalles que han hecho que la comunidad siga investigando el juego durante años. Incluso comentamos un final descartado en el que Wander y Mono podrían haber sobrevivido juntos en las Tierras Prohibidas. Y, por supuesto, terminamos reivindicando lo que para mí es una evidencia: Shadow of the Colossus es una de las grandes obras maestras de la historia del videojuego. Un juego que no necesita llenar cada rincón de contenido para hacerte sentir que estás explorando un mundo gigantesco. Un juego que convierte a sus jefes en niveles completos. Un juego que te hace sentir pequeño, vulnerable y, en ocasiones, directamente culpable. Y una obra que, tantos años después, sigue teniendo algo que muchos juegos modernos no consiguen: una identidad absolutamente propia. En este especial hablamos de Fumito Ueda, Team ICO, el desarrollo de Shadow of the Colossus, los 48 colosos originales, los diseños descartados, el multijugador cancelado, la tecnología de PS2, Wander, Mono, Agro, las Tierras Prohibidas, la banda sonora de Kow Otani, la evolución de la jugabilidad, los secretos, el impacto comercial y el legado de una de las mayores obras maestras del videojuego. Escucha el episodio completo en la app de iVoox, o descubre todo el catálogo de iVoox Originals

Escándalo V16: El documento oficial que demuestra que la DGT ignoró a Industria por imponer la baliza conectada Una exclusiva de OK Diario destapa un informe de 2019 en el que el Ministerio de Industria advertía a Tráfico de que la baliza con batería «pone en peligro la seguridad vial». En paralelo, el principal fabricante entra en preconcurso de acreedores tras recibir 2,2 millones de euros en ayudas públicas. La polémica en torno a la baliza de preseñalización luminosa $V16$ ha dado un vuelco definitivo. Tras cinco meses desde que se decretara su obligatoriedad en las carreteras españolas en este año 2026, la resistencia de los ciudadanos a adquirirla —con una tasa de adopción de apenas el 17% de los vehículos— ya no parece un simple capricho de los conductores. Una investigación liderada por la periodista Andrea Guado, jefa de motor de OK Diario, ha sacado a la luz un informe oficial y confidencial del año 2019 emitido por el Ministerio de Industria. En él, los técnicos del Estado advertían formalmente a la Dirección General de Tráfico (DGT), dirigida por Pere Navarro, de que el dispositivo que pretendían imponer presentaba graves deficiencias técnicas y, literalmente, «ponía en peligro la seguridad vial». 1. El argumento técnico de Industria: el riesgo de las baterías El informe destapado por OK Diario incide directamente en la incapacidad física de las balizas autónomas para garantizar su correcto funcionamiento en caso de emergencia. El documento técnico al que se ha tenido acceso expone textualmente la contradicción entre la ocurrencia de la $V16$ y la homologación europea vigente: «A modo de referencia, el reglamento ONU R65 establece que las señales de emergencia en vehículos de obligado cumplimiento para las señales V1 y V2 deben disponer de una fuente de luz conectada a la fuente de alimentación del vehículo, puesto que la utilización de otras fuentes de alimentación no garantiza que la señal esté operativa cuando se necesite y con la intensidad requerida». Para el Ministerio de Industria, fiar la última línea de defensa de un conductor atrapado en mitad de la calzada a un dispositivo alimentado por pilas o pequeñas baterías independientes es un error de bulto. El calor del habitáculo en verano, el frío extremo en invierno o el simple paso del tiempo degradan las baterías, impidiendo garantizar que la baliza emita la luz con la potencia luminosa mínima exigida por la normativa europea $R65$ en el instante de sufrir un siniestro. Sin embargo, Tráfico ignoró esta advertencia de su propio Gobierno y continuó adelante con el plan de implantación mediante un Real Decreto en el Consejo de Ministros, sorteando un trámite parlamentario convencional. 2. El preconcurso de Netun Solutions: ¿quiebra real o presión lobista? La exclusiva periodística coincide en el tiempo con otra noticia de enorme impacto financiero y empresarial para el sector: la entrada en preconcurso de acreedores de Netun Solutions, la empresa gallega fundada por los ex guardias civiles inventores de la baliza conectada (Help Flash). La compañía justifica esta situación legal por las bajísimas ventas acumuladas en los últimos meses debido a la desconfianza del consumidor. Sin embargo, el análisis técnico de José Lagunar en Auto FM ofrece una lectura sustancialmente diferente: • Inyección de dinero público: Netun Solutions recibió en su día un total de 2,2 millones de euros en ayudas por parte del Estado, en gran parte articuladas mediante créditos ICO y subvenciones de fondos europeos. • La estrategia concursal: Con la actual ley concursal española, una sociedad puede acogerse al preconcurso de acreedores con una antelación de hasta 2 años antes de prever que no podrá hacer frente a sus deudas. • Herramienta de presión: Lagunar sostiene que, dado el perfil de los accionistas actuales de la marca, el preconcurso parece responder más a una maniobra de presión de un lobby acorralado que a un riesgo real de quiebra técnica. 3. Dinero público al rescate de intereses privados El éxito de la maniobra de presión ya ha tenido respuesta por parte de la administración pública. El director general de Tráfico, Pere Navarro, ha anunciado de forma oficial el lanzamiento de una campaña publicitaria masiva este verano para obligar al uso de la V16. Esta decisión reabre un debate ético de hondo calado. Desde el sector del automóvil se denuncia la flagrante contradicción de que la DGT —un organismo que carece de poder legislativo propio— utilice los impuestos de todos los ciudadanos para financiar campañas de marketing destinadas a forzar la compra de un producto que fabrica de manera exclusiva un reducido grupo de empresas privadas. Mientras las marcas de automoción asumen costosas e impecables auditorías de calidad para homologar sus componentes, la seguridad vial en carretera se ha convertido en un modelo de negocio donde, si las estimaciones privadas de ventas fallan, el Estado acude al rescate publicitario. 4. El próximo negocio en el horizonte: el "cono conectado" La baliza V16 podría ser solo la punta del iceberg. Según ha adelantado Andrea Guado en OK Diario, la DGT ya estudia e impulsa el desarrollo de un nuevo dispositivo electrónico: el "cono conectado". Este aparato, que obligará a realizar nuevos desembolsos masivos a las empresas de mantenimiento de carreteras, grúas de asistencia y administraciones locales de toda España, vuelve a poner bajo la lupa la transparencia del organismo regulador. La seguridad vial española corre el riesgo de involucionar, sustituyendo el mantenimiento predictivo de nuestras deterioradas infraestructuras por la imposición sistemática de accesorios de conectividad que enriquecen a unos pocos mientras el asfalto sigue agrietándose. Hasta aquí el programa de hoy del podcast de seguridad vial y educación vial. ¿Quieres escuchar episodios anteriores sobre seguridad en moto? • P138 100 tramos más peligrosos para motoristas https://go.ivoox.com/rf/72292314 • P154 Hugo de 14 años muere en el campeonato Europeo de motociclismo. https://go.ivoox.com/rf/73574655 • P167 Muere un guardia civil en accidente de tráfico y más https://go.ivoox.com/rf/74291636 • P176 Motos sin ITV https://go.ivoox.com/rf/75543112 • P262 Seguridad Vial en moto No me llames paquete https://go.ivoox.com/rf/93733543 • P289 Caídas en quad o moto y la importancia de la equipación adecuada. Seguridad vial Dakar 2023 https://go.ivoox.com/rf/101146657 • P300 Seguridad vial en moto en el Dakar https://go.ivoox.com/rf/101515123 • P327 Seguridad vial en moto, formación conducción, compra de equitación y exigir la retirada de guardarraíles asesinos https://go.ivoox.com/rf/105221622 • P376 seguridad vial en moto, episodio 5 del verano de seguridad en Onda Cero https://go.ivoox.com/rf/114152759 • P470 La seguridad vial en moto a debate https://go.ivoox.com/rf/126752010 • P566 chaleco airbag moto para la atgc https://go.ivoox.com/rf/135729959 • P557 4000 motos en la manifestación motera por la seguridad vial https://go.ivoox.com/rf/134812092 • P601 charla de seguridad vial en la concentración motorista La Leyenda en Cantalejo https://go.ivoox.com/rf/137929200 • P610 motoristas maltratados por Juan Carlos toribio en la concentración La Leyenda https://go.ivoox.com/rf/139115892 • P656 que sucede con la seguridad de los motoristas https://go.ivoox.com/rf/149781060 • P663 DGT pone en marcha los cursos de conducción segura y eficiente para conductores de motocicletas y turismos https://go.ivoox.com/rf/151800964 ¿Quieres escuchar episodios anteriores sobre seguridad en Euro NCAP? • P22 Seguridad infantil en Euro NCAP 2020 https://go.ivoox.com/rf/60410726 • P31 La seguridad infantil de los 7 coches ensayados en Euro NCAP 2020 https://go.ivoox.com/rf/63999896 • P119 En AutoFM hablamos del origen de lo que hoy es Euro NCAP https://go.ivoox.com/rf/70766776 • P192 Hyundai Ioniq 5 en Euro NCAP https://go.ivoox.com/rf/77624794 • P200 El coche más seguro para niños según Euro NCAP https://go.ivoox.com/rf/79810679 • P278 ¿Qué es EuroNCAP? https://go.ivoox.com/rf/97118681 • P320 Seguridad EuroNCAP en el Lexus RX https://go.ivoox.com/rf/104093361 • P325 Cupra en Euro NCAP seguridad made in Spain https://go.ivoox.com/rf/104841125 • P353 Euro NCAP y la seguridad de nuestros vehículos https://go.ivoox.com/rf/111970962 • P413 Etiquetas de seguridad en EuroNCAP https://go.ivoox.com/rf/121984964 • P426 BMW Serie 5 en EuroNCAP https://go.ivoox.com/rf/121989858 • P525 el coche más seguro en euro ncap 2023-24 https://go.ivoox.com/rf/132581951 • P617 euro ncap deepal s07 https://go.ivoox.com/rf/143237685 • P619 Xpeng pasa por Euro NCAP https://go.ivoox.com/rf/143237909 • P621 NIO EL6 en EuroNCAP https://go.ivoox.com/rf/143595669 • P655 Euro NCAP Jaecoo 7 https://go.ivoox.com/rf/149781056 • P672 Cupra Terramar en Euro NCAP 2025 https://go.ivoox.com/rf/153997907 • P674 Voyah COURAGE en Euro NCAP 2025 https://go.ivoox.com/rf/155203658 • P682 Euro NCAP 2022 vs 2025 https://go.ivoox.com/rf/157256238 • P683 Mini Cooper E en Euro NCAP 2025 https://go.ivoox.com/rf/157259235 ¿Quieres escuchar episodios anteriores sobre patinetes eléctricos (VMP) y su influencia en la educación vial y seguridad vial? • VMP o los patinetes eléctricos (13-11-2020) https://go.ivoox.com/rf/58970634 • P29 200€ de multa a los patinetes que circulen por la acera (19-1-2021) https://go.ivoox.com/rf/63999858 • P39 El 80% de los accidentados en patinete eléctrico iban sin casco. https://go.ivoox.com/rf/64652023 • P88. En la sección de RiveKids dentro de AutoFM hablamos de atropellos de niños con patinete eléctrico VMP https://go.ivoox.com/rf/68488690 • P134 Tráfico dice que se va a poner duro con patinetes y bicicletas https://go.ivoox.com/rf/71998645 • P205 certificado para VMP y manual de características del patinete eléctrico https://go.ivoox.com/rf/81250012 • P222 Normativa del patinete eléctrico en Onda Cero https://go.ivoox.com/rf/86695954 • P228 El patinete eléctrico no es un juguete en Auto FM https://go.ivoox.com/rf/87765635 • P329 lista de patinetes eléctricos certificados por la DGT https://go.ivoox.com/rf/105222377 • P449 Se prohíbe el patinete eléctrico en el metro de Bilbao https://go.ivoox.com/rf/124482727 • P555 Los patinetes de alquiler son ilegales https://go.ivoox.com/rf/134811973 • P718 Antonio Ordúñez y Rubén Martínez, Policía Municipal de Madrid https://go.ivoox.com/rf/163947642 • P742 Patinetes eléctricos- seguridad y fallos con la Policía Municipal de Madrid https://go.ivoox.com/rf/166946620 ¿Quieres escuchar episodios anteriores sobre cómo la DGT afronta la educación vial y seguridad vial? • P47 La DGT recauda más de un millón de euros al día en multas https://go.ivoox.com/rf/65042824 • P68 2.880 conductores fueron denunciados dos o más veces en un mismo año por no llevar el cinturón de seguridad. https://go.ivoox.com/rf/66793732 • P72 La otra cara del rescate en carretera. DGT https://go.ivoox.com/rf/67030950 • P78 ¿Por qué nos denuncia la DGT en España? https://go.ivoox.com/rf/67470851 • P85 los tribunales anulan la mitad de las multas que pone la DGT. https://go.ivoox.com/rf/68027004 • P189 Cómo adelantar con seguridad https://go.ivoox.com/rf/76818386 • 6 puntos por usar el móvil al volante y más cambios de la DGT. https://go.ivoox.com/rf/60394281 • P383 ¿Hay que abrochar el cinturón de seguridad incluso sin ocupantes en las plazas traseras? https://go.ivoox.com/rf/115775880 • P444 Ocurrencias de la DGT en 2024 https://go.ivoox.com/rf/124103189 • P559 estrategia de país en la seguridad vial https://go.ivoox.com/rf/134812303 • P447 Propuestas de la DGT para bajar fallecidos en carretera https://go.ivoox.com/rf/124482117 • P456 La DGT incumple la promesa de retirar la Ley de tráfico si aumentaban los fallecidos https://go.ivoox.com/rf/124862871 • P494 La DGT frena los cambios del carnet de conducir https://go.ivoox.com/rf/130588417 • P538 En un accidente no se multiplica el peso como dice la DGT https://go.ivoox.com/rf/133370042 • P559 estrategia de país en la seguridad vial https://go.ivoox.com/rf/134812303 • P564 la seguridad en los adelantamientos https://go.ivoox.com/rf/135729856 • P633 La DGT controla a los conductores profesionales https://go.ivoox.com/rf/144450395 • P569 la DGT hace campanas de buenismo con los patinetes https://go.ivoox.com/rf/135730039 ¿Quieres escuchar episodios anteriores del podcast de educación vial y seguridad vial? • P6 Coronavirus y Seguridad Vial https://go.ivoox.com/rf/49513283 • P169 Seguridad vial en Onda Cero https://go.ivoox.com/rf/74292123 • P125 ¿Isofix en un SsangYong Rodius? Y mucha más seguridad vial https://go.ivoox.com/rf/71289331 • P196 Seguridad vial para bebés prematuros y CIPSEVI https://go.ivoox.com/rf/78652365 • P168 Sin ruedas no hay seguridad vial https://go.ivoox.com/rf/74292023 • P182 La educación vial en El Enfoque, Onda Madrid https://go.ivoox.com/rf/76018355 • P7 Mascarillas y guantes son al coronavirus lo que el cinturón de seguridad y los SRI a la violencia vial https://go.ivoox.com/rf/50038459 • P197 Estudio sobre la inseguridad vial en el contenido de las series en Capital Radio https://go.ivoox.com/rf/78897119 • P565 la mayoría de gente no usa el cinturón de seguridad https://go.ivoox.com/rf/135729932 • P561 4 de cada 10 conductores dan positivo en drogas https://go.ivoox.com/rf/134812530 • P541 La DGT no sabe dónde hay más de 650 millones de euros https://go.ivoox.com/rf/133580231 ¿Quieres escuchar episodios anteriores del podcast de seguridad vial en el Dakar? • P290 Lluvia torrencial, helicópteros que no pueden volar y buggies en medio de riadas. Seguridad vial Dakar 2023 https://go.ivoox.com/rf/101146767 • P291. Señalización de accidentes en la carrera más dura del mundo. Seguridad vial Dakar 2023 https://go.ivoox.com/rf/101146815 • P295 Exceso de velocidad, radar, sanción y distancia de frenado. Seguridad vial Dakar 2023 https://go.ivoox.com/rf/101147162 • P297 Muere atropellado por conseguir la mejor foto. Seguridad vial Dakar 2023 https://go.ivoox.com/rf/101514720 • P302 El Dakar 2023 da una lección de seguridad vial. La velocidad no mata, matan otras cosas. Seguridad vial Dakar https://go.ivoox.com/rf/101515334 • P301 Seguridad Vial con Manolo Plaza en el Dakar y en la vida. Seguridad vial Dakar 2023 https://go.ivoox.com/rf/101515325 • P300 La seguridad vial en moto en el Dakar y en las carreteras españolas. Seguridad vial Dakar 2023 https://go.ivoox.com/rf/101515123 • P294 Cansancio y fatiga extrema en competición. Seguridad vial Dakar 2023 https://go.ivoox.com/rf/101147100 • P296 ¿Es más seguro un chasis tubular? Biomecánica del impacto y aceleraciones en la seguridad vial Dakar 2023 https://go.ivoox.com/rf/101514635 • P288 Arco antivuelco o jaula de seguridad. Seguridad vial Dakar 2023 https://go.ivoox.com/rf/100776113 • P293 Hans. Seguridad vial Dakar 2023 https://go.ivoox.com/rf/101146904 • P292. Pos seguridad después de un vuelco o un accidente ¿qué hacer?. Seguridad vial Dakar 2023 https://go.ivoox.com/rf/101146866 • P287 Arnés vs cinturón de seguridad. Seguridad vial Dakar 2023 https://go.ivoox.com/rf/100775999 • P299 Conducir sin luna en la seguridad vial Dakar 2023 https://go.ivoox.com/rf/101515049 • P298 Fallece atropellado un aficionado que estaba viendo el Dakar 2023. Seguridad vial dentro y fuera de la competición https://go.ivoox.com/rf/101514818 • P430 Prologo Dakar 2024, seguridad vial https://go.ivoox.com/rf/122182887 • P438 Etapa 10 Dakar 2024 competición vs vida real en la señalización https://go.ivoox.com/rf/123338733 • P435 Etapa 5 Dakar 2024, la fatiga https://go.ivoox.com/rf/122440640 • P440 Etapa de descanso Dakar 2024 los twit de la DGT https://go.ivoox.com/rf/123339096 • P439 Etapa 11 Dakar 2024 adelantamientos extremos https://go.ivoox.com/rf/123338820 • P436 Atropello de un espectador en el Dakar 2024 https://go.ivoox.com/rf/122440725 • P434 Etapa 4 seguridad jurídica y excesos de velocidad en el Dakar 2024 https://go.ivoox.com/rf/122440464 • P431 Etapa 1 Dakar 2024, espectador atropellado https://go.ivoox.com/rf/122229047 • P432 Etapa 2 Dakar 2024, jaula de seguridad y Carles Falcón https://go.ivoox.com/rf/122229139 • P433 Etapa 3 Dakar 2024, los 3 impactos de un accidente https://go.ivoox.com/rf/122440325 • P589 De qué hablar en la sección de Seguridad Vial del Dakar 2025 https://go.ivoox.com/rf/137490937 • P590 Mástil con bandera roja para evitar accidentes Seguridad vial Dakar 2025 https://go.ivoox.com/rf/137490988 • P591 La jaula de seguridad rota 2mm deja sin carrera a Laia Seguridad Vial Dakar 2025 https://go.ivoox.com/rf/137491029 • P592 Sanciones por exceso de velocidad Seguridad Vial Dakar 2025 https://go.ivoox.com/rf/137928364 • P593 Análisis detallado sobre la seguridad del Dakar desde que está la FIA https://go.ivoox.com/rf/137928477 • P594 ¿Puedes correr el Dakar con una mano en la cabeza y otra en el volante? https://go.ivoox.com/rf/137928601 • P597 homenaje a los fallecidos en carrara a lo largo de la historia del Rally Dakar https://go.ivoox.com/rf/137928934 • P598 Amortiguador en el asiento para mejorar la seguridad en impactos verticales. Seguridad Vial Dakar 2025 https://go.ivoox.com/rf/137929049 • P599 El riesgo de tener objetos sueltos en el interior del coche. Seguridad Vial Dakar 2025 https://go.ivoox.com/rf/137929115 • P602 Salir de una poza en el desierto Seguridad Vial Dakar 2025 https://go.ivoox.com/rf/137929280 • P603 Que es el Hans como elementos de seguridad en competición Seguridad Vial Dakar 2025 https://go.ivoox.com/rf/137930032 • P604 ropa interior ignifuga en la seguridad vial del Dakar 2025 https://go.ivoox.com/rf/139115568 • P605 Asistir accidentes en el Dakar 2025 y en la vida diaria, conducta PAS Seguridad Vial https://go.ivoox.com/rf/139115645 • P606 La FIA y el reglamento para la jaula de seguridad en la seguridad vial del Dakar 2025 https://go.ivoox.com/rf/139115689 • P607 Mira más por la seguridad de los pilotos del Dakar la FIA o los fabricantes y equipos https://go.ivoox.com/rf/139115737 “El verdadero viaje es el que termina como comenzó, con felicidad e inocencia” Feliz viaje hasta el próximo programa. _______________________________________

Welcome to Dev Game Club, where this week we continue our series on Psychonauts. We dive into (ha) the lungfish levels and the Milkman Conspiracy and talk about the tension between systems and individually scripted experiences, before turning to user questions. Dev Game Club looks at classic video games and plays through them over several episodes, providing commentary. Sections played: To Milkman Issues covered: a special announcement, turkeys everywhere, long digression into weird Spelunky, setting up the Lungfish, hunting down all the collectibles, an underwater bubble and moving around, consistency in levels, coming in with different player options, involving the empathy of the player, the limits of other genres in engaging empathy mechanically, the difficulty of reading the environment, the unfortunate PS4 port from the PS2, avoiding oysters, a direct lineage of creativity, becoming Godzilla, reuse of abilities when you return, every level being a genre, leading the way creatively, parallel to indie film, re-entering the levels and the tongue-in-cheek, going every direction and the costs, relearning rules each level, the cost of testing boundaries due to other mechanics, jumping between gravity spaces, describing the Milkman level, conspiracy mad-libs, being in an environment where you will fail again and again, memorable levels here and elsewhere, zingers of stingers, lines in movies vs lines in games, reinforcing them, a typical day in the life for a game designer, iterating to solve problems, getting people on board and carrying vision, people who show what's going on with the project, building consensus.  Games, people, and influences mentioned or discussed: Spelunky, Andy Nealen, mysterydip, Beyond Good & Evil, Crash Bandicoot, King's Quest, Costume Quest, Headlander, Keeper, Stacking, Trenched/Iron Brigade, Tim Schafer, Daron Stinnett, LucasArts, Community, Velvet Underground, Four Weddings and a Funeral, Psychodyssey, Nintendo, Majora's Mask, Microsoft, Shadow of the Colossus, Ico, Outer Wilds, Portal, Duke Nuke'em, John Carpenter, Them, Roddy Rowdy Piper, Sasha/scarytiger, Jonno, Starfighter, Kirk Hamilton, Aaron Evers, Mark Garcia.  Next time: Finish the game? Twitch: timlongojr and twinsunscorp YouTube Discord DevGameClub@gmail.com 

What are the most spiritual games you've ever played? What does spirituality mean to you? Have you ever had a transcendent experience while playing a game? In this episode, we break down some of our most profound experiences playing games — games that weren't just emotional but deeply spiritual. This includes games like Xenogears, Ico, Journey, Terranigma, Death Stranding, Outer Wilds, and many more. What are some of your picks? Let us know in the comments below! Time Codes: 01. Intro (0:00) 02. What Does Spirituality Mean? (01:29) 03. Honorable Mentions (08:49) 04. Casen's First Pick: Ico (26:51) 05. A Couple More Honorable Mentions (37:20) 06. Mike's First Pick: Terranigma (39:10) 07. Casen's Second Pick: Death Stranding (48:45) 08. Mike's Second Pick: Journey (1:01:23) 09. Casen's Third Pick: Wind Waker (1:08:53) 10. Mike's Third Pick: Outer Wilds (1:25:01) Discord Link: https://discord.gg/RFMF6gpHr Patreon Page: https://www.patreon.com/resonantarc Subscribe Star: https://www.subscribestar.com/resonant-arc Twitter: https://twitter.com/resonantarc Facebook: https://www.facebook.com/resonantarc Instagram: https://www.instagram.com/resonantarc TikTok: https://www.tiktok.com/@resonantarc

In this high-energy and incredibly entertaining episode of The TMA Connection, Tim sits down with Natalie Johnson, the charismatic Chief Operating Officer of Inner County Outreach (ICO). Celebrating a massive 40-year legacy of deep community service across Harford, Cecil, and Baltimore counties, Natalie shares the foundational story of how her father, Dr. Nathaniel Johnson, launched the faith-based organization in 1986 to remove traditional barriers to care and nurture the entire family unit. Natalie details how ICO manages 13 comprehensive programs across three key divisions: Mental Health and Wellness, Youth and Family Services, and Comprehensive Basic Needs (including their brand-new strategic merger with Fresh Start Furnishings) providing a lasting framework for families navigating crisis. Stick around for the final 10 minutes as Tim flips the script completely into a live, matchmaking segment for Natalie—niching down the search for a godly, highly educated, whiskey drinking partner willing to survive an extensive screening process by her family! Subscribe to The TMA Connection on your favorite podcast platform or watch the full episode on YouTube by searching "The TMA Connection." Don't forget to like, comment, and share — your support keeps the conversation growing!

Send us Fan MailWelcome to the Serious Privacy podcast, where Ralph O'Brien , Dr. K Royal, and Paul Breitbarth explores the implications of proposed social media age restrictions in the UK to under 16s, through the insights of university student (and our editor!) Fey O'Brien, emphasising the importance of digital literacy and open communications.As the debate surrounding social media age restrictions continues, it is vital to consider the implications for minors and their rights. Engaging with younger voices like Fey's adds depth to the discussion, illustrating the importance of balancing safety and freedom in the digital landscape. Instead of imposing blanket bans, fostering digital literacy and open communication can pave the way for a more informed generation of social media users. If you have comments or questions, find us on LinkedIn and Instagram @seriousprivacy, and on BlueSky under @seriousprivacy.eu, @europaulb.seriousprivacy.eu, @heartofprivacy.bsky.app and @igrobrien.seriousprivacy.eu, and email podcast@seriousprivacy.eu. Rate and Review us! From Season 6, our episodes are edited by Fey O'Brien. Our intro and exit music is Channel Intro 24 by Sascha Ende, licensed under CC BY 4.0. with the voiceover by Tim Foley.

Ilies Larbi is the founder and CEO of Ouinex, a multi-asset trading platform built to fuse crypto and traditional markets in a single account while shielding retail traders from the structural disadvantages of conventional order books. A nearly fifteen-year veteran of New York-based forex broker FXCM, where he climbed from sales associate to Managing Director for Europe and a seat on the executive committee, the Paris-based Larbi stepped into crypto in 2022 — late by bull-run standards, as he admits, but with a clear view of the gap he wanted to fill. Why you should listen Larbi's central argument lands with a memorable image: most crypto exchanges drop retail traders into a tank full of sharks. His culprit is the central limit order book, which works beautifully in regulated venues like the NYSE where institutions compete against each other, but breaks down in crypto, where a trader tapping orders from their phone over café Wi-Fi sits on the same book as a high-frequency desk running millions in low-latency infrastructure around the clock. That asymmetry, he argues, is why retail traders so often see stop losses picked off and price action that feels suspiciously erratic. Ouinex's answer is a no-CLOB execution model: institutions are still welcome to provide liquidity, but they're allowed only to make markets, never to take them, and they get zero visibility into where retail orders are resting since those sit on Ouinex's own servers. The result is a kind of Chinese wall, with liquidity providers forced to compete purely on the best bid and ask while an aggregator passes only the sharpest prices through to traders. Ouinex lets users trade spot crypto and perpetuals alongside forex, gold, indices and equities, using their crypto as collateral rather than cashing out to fiat — and crucially, it routes the TradFi side through hundred-year-old market infrastructure rather than rebuilding it as a thin perpetual. Larbi makes the case with hard numbers, contrasting a euro-dollar or gold trade on Ouinex against the same instrument as a perp on a venue like Hyperliquid, where he claims spreads run several times wider, commissions stack on top, and the order book is far shallower. He also points to early evidence that the multi-asset thesis is working: as geopolitics roiled markets, his traders moved record volume into oil and gold while waiting for crypto to get interesting again, exactly the cross-market hedge the platform was designed to enable. Larbi raised nine million dollars entirely from his own trading community — much of it the French-speaking InteractivTrading community — with no venture capital on the cap table, which he argues leaves the platform answerable to its users rather than to investors holding a bag of future tokens. That native token, OUIX, is heading to an ICO via the company's launchpad, pitched as a low-sell-pressure utility play with fee discounts and trading cashback. He's candid that the product is still maturing, urging listeners to test it on a demo account with virtual funds and lean on Ouinex's human (not chatbot) support. The closing hot-take round rounds him out nicely: a self-described multi-chain pragmatist with unshakeable conviction in blockchain's staying power, convinced AI agents will reshape how — and whether — we trade at all, and unashamedly nostalgic for the original Avatar. Supporting links Stabull Finance Ouinex Ouinex on Twitter Andy on Twitter Brave New Coin on Twitter Brave New Coin If you enjoyed the show please subscribe to the Crypto Conversation and give us a 5-star rating and a positive review in whatever podcast app you are using.

Robson Silva Junior is Co-Founder of Pods.He joins host Aaron Stanley to discuss how DeFi's mixed retail adoption led Pods to build modular yield infrastructure for Latin America's neobanks.Recorded live at the Token Nation event in São Paulo, the conversation traces Silva's path from naval engineering to early AMM research during Singapore's ICO era.Silva explains why Pods abandoned its B2C options protocol once it became clear retail users weren't going to interact with MetaMask directly.He also discusses Pods' work building a zero-knowledge privacy pilot for Brazil's central bank digital currency, and why programmable privacy for composable DeFi remains unsolved.The episode closes on how neobanks now use Pods' API to offer insured, cross-chain yield without building that infrastructure in-house.You can connect with Rob on Linkedin

OpenAI, Anthropic, SpaceXand the AI IPO cycle face a structural problem: a cheap, capable open source exit is already drawing enterprise users away before either company goes public. ======================================================== Thank you to our sponsor! ⁠Fidelity⁠: Fidelity has been building in crypto and DeFi since 2014 — now they're hiring. Explore career opportunities at one of the most forward-thinking names in finance here: ⁠crypto.fidelitycareers.com⁠. ⁠Cape⁠: Your biggest crypto vulnerability isn't your wallet, it's your phone number. Cape is America's privacy-first mobile carrier that rotates your SIM identity daily and blocks SIM swaps before they happen. Get 33% off your first six months at cape.co/unchained (use code: UNCHAINED). ======================================================== A viral tweet by Tom Shaughnessy, founding partner of Delphi Ventures, identified the most basic way AI could blow up: a 40x subsidy gap between consumer AI subscriptions and enterprise API costs quietly pushing businesses toward open source inference providers at 1% of the price. Citadel Securities published a near-identical thesis shortly after. Shaughnessy joins Laura Shin to map the implications for the AI IPO wave, starting with SpaceX. Low floats and passive index demand should lift these stocks out of the gate, but public market disclosures will force OpenAI and Anthropic to reveal payback periods, margins, and subscriber numbers for the first time. He also argues OpenAI's reported price cuts target Anthropic's growth metrics before the IPO, not user demand. The episode also covers the China model wildcard, whether AI model restrictions amount to big brother fearmongering, and whether crypto's tools for capital formation could keep the AGI flywheel from stalling. Host: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Laura Shin⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, Host / Unchained Guests: ⁠Tom Shaughnessy - Founding Partner of Delphi Ventures and Co-Founder of Delphi Digital Timestamps

Prison of Husks no tiene subidas de niveles ni enemigos que hacen respawn, cuenta con un contador de adrenalina y algo maravilloso: hace suya la estética de ICO, a la que invoca con una astuta manera de usar las estéticas de PlayStation 1.-Juega la demo de Prison of Husks: https://store.steampowered.com/app/2975260/PRISON_OF_HUSKS/-ICO A Juego Lento en Podcast: https://www.youtube.com/playlist?list=PLPTGZ5GEprSZylTTutQAhDmFZFokHQoLL-Pide más información de nuestros másters en videojuegos con un 5% de descuento en tu matrícula usando este enlace: https://estudiar.unir.net/es/es-gen-ma-ing-masters-diseno/?utm_medium=off&utm_source=colectivos&utm_campaign=np-colectivos_off_colectivos_unireu_eu_es_es_convenio_generico_leadweb_nuevebits-Compra Los Secretos de Krat: más allá de Lies of P: https://amzn.to/4rKE3FV

Strategy zorgt opnieuw voor verwarring: het bedrijf stopte tegelijk $100 miljoen in bitcoin én $100 miljoen in dollars. Was de beroemde bitcoin yield nou positief of negatief? Verder bespreken we waarom ICO's definitief dood zijn, de opmars van Hyperliquid met meer dan 200.000 wekelijkse gebruikers, de controverse rond Arthur Hayes die volgens ZachXBT zijn volgers als exit liquidity gebruikt, en problemen bij Zcash na een hack. Natuurlijk sluiten we af met de marktupdate van Bert, want er was flink wat paniek op de aandelenmarkten.Probeer de eerste maand voor 5 euro (80% korting)Satoshi Radio wordt mede mogelijk gemaakt door: Watson Law en onze hoofdsponsor Bitvavo.Timestamps(00:00:00) Welkom en Podcast Introductie(00:16:00) Strategy: stopt $100M in BTC en $100M in USD(00:26:55) Strategy: maar was er nou een positieve of negatieve btc yield?(00:31:03) Strategy: “kill it, then”(00:43:25) ICO's zijn overleden(00:49:36) Hyperliquid weekly active users boven 200.000(00:57:13) Arthur Hayes: dumpt HYPE, NEAR en WLD(01:00:33) Arthur Hayes: is een scammer, volgens ZachXBT(01:03:00) Raoul Pal raadt Zcash aan (wegwezen dus)(01:05:10) Zcash valt uit de gratie door hack(01:24:00) Cryptosector voert druk rond Clarity Act op(01:30:50) Marktupdate(00:00:00) EindeBookmarksBertStrategy stopt $100M in BTC en $100M in USDMaar was er nou een positieve of negatieve btc yield?“Kill it, then”Arthur Hayes dumpt HYPE, NEAR en WLDZachXBT: Hayes gebruikt volgers als exit liquidityRaoul Pal raadt Zcash aan (wegwezen dus)Hyperliquidweekly active users boven 200.000PeterICO's zijn overledenZcash valt uit de gratie door hackCryptosector voert druk rond Clarity Act opCrisis bij Cardano

In this sponsored episode of The Bad Crypto Podcast, Joel and Travis welcome back Markus Levin, co-founder of XYO Network, a project first featured on the show back in the ICO days of 2018. Unlike many projects from that era, XYO is still building. The conversation centers on a huge problem in both crypto and AI: digital systems are often blind to the real world. Smart contracts, AI agents, apps, and autonomous systems can process data, but they do not automatically know whether that data is true, where it came from, or whether someone tampered with it. That is where XYO comes in. Markus explains how XYO has evolved from a proof-of-location network into what the team describes as a truth layer for real-world data. Using devices, mobile phones, sensors, NFC tags, cryptographic proofs, and its own data-focused Layer 1 blockchain, XYO is working to verify events, actions, assets, and real-world information so AI systems and blockchain applications can operate with greater certainty. Joel, Travis, and Markus also dig into the COIN app, which allows users to earn rewards for contributing real-world data, and the broader XYO ecosystem, including the XYO token, XL1 token, proof of origin, zero-knowledge privacy protections, and the newly announced AI infrastructure verification partnership with Setter Labs. The big idea: as AI becomes more powerful, the question may not be whether a model can generate an answer. The question is whether it can prove where that answer came from. Topics Covered Why AI agents and smart contracts are still “blind” to the physical world How XYO began as a proof-of-location project in 2018 Why GPS and location data can be spoofed The role of blockchain in verifying real-world events What “proof of origin” means and why it matters How XYO collects and verifies real-world data Why bad data may be one of AI’s biggest problems How verified data could reduce AI hallucinations The COIN app and how users can earn rewards for data collection XYO’s Layer 1 blockchain and the XL1 token The difference between XYO, XL1, COIN, and other ecosystem assets How zero-knowledge proofs help preserve privacy Why decentralized physical infrastructure networks may become increasingly important How XYO is moving into AI infrastructure and AI agent verification The new XYO AI SDK and what developers can build with it Why long-term survival matters in crypto Joel’s reminder that sponsored projects must still pass Bad Crypto vetting Featured Guest Markus LevinCo-founder of XYO Network Links Mentioned XYO Network: https://xyo.networkCOIN App: https://coinapp.coBuild with XYO: https://xyo.network/buildPartnership inquiries: partnerships@xyo.network Disclosure This is a sponsored episode of The Bad Crypto Podcast. Joel and Travis were compensated to feature XYO Network, but the project passed their vetting process before being brought to the Bad Crypto audience.Support the show: https://badcryptopodcast.comSee omnystudio.com/listener for privacy information.

Demetrick, Dr. Corey Petty, and Jesse are joined by founder and investor Joe for a conversation that cuts through sixteen years of crypto noise with one provocative thesis: crypto is only about trading.Joe walks the guys through all five hype cycles, from Silk Road to Mt. Gox to the 2017 ICO mania to NFTs to today, and shows how the top of every cycle has been defined by a single dominant trading narrative. Everything else, he argues, is undercurrent. The conversation traces how he arrived at this conclusion after the chaos of ETHDenver 2023 sent him back to first principles, including the poker code buried in the original Bitcoin commit.From there the guys get into where the next hype cycle is forming. Joe demos a tap trading app he is building that strips away every chart, button, and knob until trading feels closer to a mobile game than a Bloomberg terminal. Green for good, red for bad, prediction markets baked in. The crew riffs on PVP tournaments, head to head trading streams on Twitch and Kick, and why apps optimized for volatility win when traditional markets get quiet.Plus: Anatoly's legendary bag working of Hyperliquid on Solana, why a normal person will never love a candlestick chart, and Corey announces he is winding down Archivist and open sourcing the IP.Drop questions in the YouTube comments. Join the Discord. The Pope conversation got pushed to next week.

The charitable soft opt-in ICO guidance has just landed. For many charities, this is the biggest shift in supporter communications rules in years. And our inbox and membership chat are already full of questions: Does event attendance count as expressing interest? What about volunteering, buying a raffle ticket, or clicking a link? Can we now contact people we previously couldn't? And just as importantly…Where are the grey areas charities need to tread carefully? To help the sector unpack all of this quickly, we're hosting a session with Mark Burnett from Hope & May. Get access to the full webinar & 30 minute Q&A. If you enjoyed this episode, don't forget to hit follow and enable notifications so you'll get notified to be first to hear of future podcast episodes. We'd love to see you back again! And thank you to our friends at JustGiving who make the Fundraising Everywhere Podcast possible.

En Capital Intereconomía, el espacio Empresas con Identidad pone el foco en el hidrógeno renovable y en el desarrollo de infraestructuras para movilidad sostenible junto a Santiago Ramas López, director general de HVR Energy. La compañía acaba de cerrar una financiación de 12,75 millones de euros con el ICO para acelerar el despliegue de 30 nuevas hidrolineras dentro de su proyecto ACTIVA, consolidando uno de los planes de infraestructura de hidrógeno más ambiciosos de Europa. Durante la entrevista, Ramas analiza el respaldo financiero e institucional recibido, el papel de las ayudas europeas y el objetivo de alcanzar 75 hidrolineras operativas en España antes de 2030. También explica el modelo de instalación de estaciones de repostaje en gasolineras existentes mediante un sistema “todo incluido” y analiza las ventajas del hidrógeno renovable para el transporte pesado y de largo recorrido, así como los retos regulatorios y financieros pendientes para impulsar definitivamente esta tecnología en Europa. En Digital Business, Paco González, CEO de Core Tech Capital, analiza la actualidad de OpenAI, el lanzamiento de nuevos modelos, el conflicto con Apple y las enormes inversiones en capacidad de computación e inteligencia artificial. Además, Tomás Golding, Head of Financial Services & Capital Markets de VASS, aborda los retos de transformación digital de la banca, el impacto de la inteligencia artificial y cómo evolucionará el sector financiero hacia modelos más simplificados y automatizados.

Muy bien, vamos a por otro resumen trimestral, en cuatro de las secciones habituales (ePrivacy y marco regulatorio; MarTech & AdTech; IA, competencia y mercados digitales; y futuro de los medios).Entre otras cosas, hoy tratamos:* Verificación de edad en sus múltiples variantes y la evolución de la prohibición de medios sociales para menores* Memoria de actividad de la AEPD* Directrices varias del EDPB* Campañas en ChatGPT, píxeles y APIs de conversión* Píxeles de apertura en correos electrónicos (Francia, Italia)* Nuevas directrices ICO para ePrivacy (analytics, A/B testing, etc.)* Multas y juicios en California (Meta, General Motors).Hemos incluido las notas detalladas del episodio y todos los links o referencias en un post específico, como siempre, aquí disponible. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.mastersofprivacy.com/subscribe

My guest today is John Gu, founder and CEO of Caladan, one of the most active market makers in crypto and a firm that has provided liquidity to more than 200 token launches. John's path runs through MIT, AlphaSimplex, Citadel's principal strategies group, and Tower Research before landing in Singapore at the dawn of the ICO era — where what started as a trade on the kimchi premium became the foundation for one of the most active liquidity providers in digital assets.The thesis of our conversation is what I'll call the cold start problem. In traditional markets, every newly listed stock arrives with scaffolding already in place — a designated market maker, a reference price, a universe of comparables, and decades of regulatory infrastructure. Crypto inverts that. A new token can launch with no orderbook, no comparables, and no clear demand curve. Someone has to quote a two-sided market into that void, and how they do it shapes whether the asset becomes a real, tradable thing — or a graveyard of wide spreads and stranded liquidity.John and I dig into how you bootstrap liquidity from zero, how the quoting playbook evolves as a market matures, the economics of token market making contracts, and how that same infrastructure now bridges into structured products and treasury solutions for token foundations.Please enjoy my conversation with John Gu.

In this episode of FYI, Lorenzo Valente sits down with ARK Invest CEO Cathie Wood and Changpeng Zhao (CZ), founder of Binance, to examine his journey from early life in China to building the world's largest crypto exchange. CZ shares how Binance scaled rapidly, the regulatory challenges it faced, and how the crypto industry has evolved over the past decade. The conversation also covers institutional adoption, stablecoins, AI's role in accelerating innovation, and CZ's outlook on Bitcoin, exchanges, and the future of global finance.Key Points From This Episode: ●      00:00:00 CZ's early life, founding Binance in 2017, and rapid growth during the initial coin offering (ICO) boom.●      03:23:00 Key drivers behind Binance's dominance: user protection, speed, and security.●      07:07:00 Institutional participation in crypto has accelerated faster than expected.●      12:00:00 Convergence of traditional finance and crypto into a single system.●      15:03:00 Fee compression and increased competition driven by blockchain efficiency.●      23:44:00 The evolution toward “everything exchanges” offering multiple asset classes.●      34:01:00 Growth and competition among global stablecoins.●      45:58:00 Institutional inflows stabilizing and supporting crypto markets.Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com)

En este primer episodio del especial de Rejugando dedicado a ICO y a la figura de Fumito Ueda, el equipo formado por RaffaValencia, Adrián Plaza y Lidia Muñoz inicia un viaje profundo hacia uno de los desarrollos más influyentes y singulares de la historia del videojuego. La importancia de ICO dentro de la industria: un título lanzado en 2001 para PlayStation 2 que rompió con las normas establecidas apostando por una experiencia minimalista, emocional y profundamente artística. Desde el primer momento se establece la idea central: ICO no es solo un videojuego, sino una obra que redefinió la forma de entender la narrativa interactiva. Uno de los grandes ejes del episodio es el análisis de la figura de Ueda y su filosofía creativa. Se profundiza en su obsesión por crear algo completamente diferente, alejándose de los estándares de la época. Su concepto de “diseño por sustracción” —eliminar todo lo innecesario para quedarse con lo esencial— se presenta como la base del ADN de ICO: sin interfaz, sin HUD, sin sobreexplicaciones, y con una narrativa basada en gestos, especialmente el icónico acto de dar la mano. El programa repasa en detalle los orígenes del creativo japonés: su infancia en Japón, sus influencias culturales como el anime, el manga y obras como Nausicaä, así como videojuegos clave como Prince of Persia, Another World o incluso Lemmings, que marcaron su sensibilidad hacia la animación y la interacción. También se aborda su etapa previa a Sony, pasando por trabajos en el estudio WARP y su participación en títulos como D o Enemy Zero, donde comenzó a formarse dentro del sector. Sin embargo, su salto definitivo llega cuando presenta un prototipo de ICO a Sony, impresionando a figuras clave como Shuhei Yoshida, lo que desemboca en la creación del llamado Team ICO. El proceso de desarrollo: desde sus inicios en PlayStation hasta el salto a PS2, que obligó a rehacer el proyecto. Este cambio, lejos de ser un problema, permitió a Ueda redefinir el juego, eliminar mecánicas tradicionales (combate complejo, inventarios, misiones secundarias) y centrarse en una experiencia pura basada en exploración, puzles y vínculo emocional. Decisiones fundamentales como: La ausencia de cinemáticas CGI, apostando por escenas en tiempo real El uso del entorno como narrativa La creación de un equipo con desarrolladores poco experimentados para evitar “vicios” del medio La importancia del contacto físico como mecánica central La parte más personal es donde los compartimos cómo descubrimos ICO, desde primeras impresiones confusas hasta redescubrimientos años después, destacando cómo el juego gana valor con el tiempo y la madurez del jugador. En definitiva, este primer programa sienta las bases de la trilogía especial: un recorrido por la mente de un creador único y el nacimiento de una obra que cambió para siempre la percepción del videojuego como arte.

Data protection in the United Kingdom is entering a new phase of post‑Brexit divergence, introducing targeted but impactful changes across regulatory governance, enforcement, and day‑to‑day compliance.   In this episode of The Data Chronicles, we examine how the Data (Use and Access) Act 2025 is reshaping UK data protection through reforms to the ICO's structure, new approaches to cookies, automated decision‑making, international data transfers, and lawful bases for processing.   The discussion explores how increased flexibility in the United Kingdom is paired with heightened enforcement risk, why operating across United Kingdom and European Union regimes is becoming more complex for global organizations, and how data protection is increasingly being reframed as both a legal compliance and economic policy tool – demanding closer coordination between legal, product, and operational teams.

In Episode 313 of The Block Runner Podcast, William and I-man break down the latest stress test for crypto launch platforms: Believe's rapid rise, the Printer token ICO backlash, the $2M refund, and what the failed attempts to disrupt Pump.Fun reveal about launching in a permissionless market. The conversation centers on how quickly community momentum can reverse when a platform moves too fast into tokenization, why founders face extreme psychological pressure once market attention arrives, and why examples like Believe, Heaven, Bonk-adjacent launch efforts, and Printer matter directly to the NAT.fun launch thesis. Key topics: Believe's position in the launch ecosystem and how quickly market attention can concentrate around a new platform The Printer ICO, Coinbase/Sonar rails, and why selling a token too early can reverse community sentiment The mental-health pressure founders face when crypto Twitter turns from attention into personal attack The $2M refund and what it says about trust, timing, and execution in token launches Why attempts to disrupt Pump.Fun keep failing, from Believe to Heaven to Printer How these failures become direct lessons for NAT.fun as it prepares to enter the launch-platform arena Please like and subscribe on your favorite podcasting app! Sign up for a free newsletter: www.theblockrunner.com Follow us on: Youtube: https://bit.ly/TBlkRnnrYouTube Twitter: bit.ly/TBR-Twitter Telegram: bit.ly/TBR-Telegram Discord: bit.ly/TBR-Discord $NAT Telegram: https://t.me/dmt_nat

Raees Chowdhury is the co-founder and chief investment officer of Tok-Edge, a London-based regulated DeFi hedge fund built around a novel cryptoasset structure called the Redemption Token. With a career spanning senior roles at BCG and Bain Capital, a managing partner position at Revolt Ventures — a fund sitting beneath a $10 billion AUM vehicle — and deep roots in on-chain markets dating back to the ICO era of 2016–17, Raees brings rare dual fluency in institutional finance and DeFi to one of crypto's most ambitious new fund structures. Why you should listen Tok-Edge emerged from stealth on the day of this recording, and the timing is deliberate. Raees argues that the current drawdown — with Bitcoin sitting roughly 50% off all-time highs and many altcoins down 90% or more — is precisely the moment to be allocating capital to DeFi. The fund is built on a contrarian but rigorous thesis: that crypto is a genuinely new liquid asset class, that existing token models are structurally flawed, and that the teams best positioned to capture the next cycle are those who can hold TradFi infrastructure and DeFi-native thinking in the same hand. The centrepiece of what Tok-Edge is building is the Redemption Token — a new category of cryptoasset designed to solve what Raees calls the duality problem that has undermined most token models to date. Unlike governance tokens, which trend towards zero, or utility tokens, which are constrained to their native blockchain, the Redemption Token is permissionless and composable in DeFi while carrying a genuine defined function: the ability for fund investors to redeem underlying fund shares at net asset value. The model Raees reaches for by analogy is MicroStrategy — a structure designed first, then deployed as a product. Tok-Edge is doing the same, with the Redemption Token as the architecture and the Tok-Edge Fund as its first application. The fund itself is built to institutional standard — custodians, regulated directors, and governance structures you'd expect from any tier-one equities vehicle — but applied entirely to crypto and DeFi strategies. Raees walks through the team's approach to on-chain yield generation, active capital allocation between strategies, and why sitting in stablecoins and earning on-chain yield is a feature rather than a concession. He also shares his conviction that DeFi yields are far from dead, why on-chain flows will identify the winners of the next cycle before most people see them coming, and how the Berkshire Hathaway model — long-only, actively managed, comfortable holding cash — translates surprisingly well to liquid crypto asset management. With a TGE capped at $21 million targeting a $100 million first close later in 2026, this is a conversation worth hearing early. Supporting links Stabull Finance Tok-Edge Andy on Twitter  Brave New Coin on Twitter Brave New Coin If you enjoyed the show please subscribe to the Crypto Conversation and give us a 5-star rating and a positive review in whatever podcast app you are using.

I sit down with Omar, co-founder of Noya.ai, to explore how his team is building at the intersection of AI and DeFi. We talk about how Noya evolved from an omni-chain yield aggregator into a full-stack agentic platform, combining a data layer, analytics engine, and execution rails all in one MCP. Omar shares how they hit 1,000 downloads in just two days with zero paid marketing, why he believes interfaces are dead and agents are the future, and how proprietary data is the key moat for any Web3 startup in the age of AI. We also get into prediction market vaults, delta-neutral strategies, tokenization of real-world assets, and what the next 6–12 months looks like for Noya. DisclaimerNothing mentioned in this podcast is investment advice and please do your own research. It would mean a lot if you can leave a review of this podcast on Apple Podcasts or Spotify and share this podcast with a friend. Be a guest on the podcast or contact us - https://www.web3pod.xyz/--- CONNECT ---Noya.ai Website: https://noya.aiTwitter/X: https://x.com/NetworkNoya Omar: https://x.com/OptimisticOmni Web3 with Sam Kamani: https://www.web3pod.xyz/--- KEY POINTS WITH TIMESTAMPS ---• [00:49] Omar shares his crypto origin story — hooked by an Andreas Antonopoulos video in 2016, survived the ICO craze, DeFi Summer, and a VC role building on Luna before founding Noya• [01:52] The core vision: mesh intelligence and execution together, because interfaces are dead and the future is agentic• [03:24] Noya's current product suite — an MCP, a data aggregation layer, wallet analytics across prediction markets and DeFi, and structured vaults• [04:10] 1,000 MCP downloads in two days with zero paid marketing and 30,000 monthly active users on the platform• [07:41] A concrete example of how the Noya agent works — from token research to price alerts on Telegram to on-chain execution• [09:56] How Noya pivoted from omni-chain yield aggregator to its current agentic vision, and why the vault space was too crowded and too risky• [11:40] How Noya thinks about trust and safety — pre-built transaction templates, slippage warnings, honeypot detection, and a forthcoming security layer• [13:41] Why Omar sees little direct competition — the vision of one MCP for data, execution, analytics, and research across all chains is unique• [15:01] DeFi's biggest problem right now is lack of real usage, and tokenization of real-world assets is what will revive it• [19:50] How founders should think about building moats in the age of AI — proprietary data, multi-layer positioning, and pay-per-use infrastructure• [24:16] What's next for Noya — improving the MCP, launching the first delta-neutral prediction markets vault, and expanding protocol integrations

Markets are rallying on a fragile Iran ceasefire, but the real risks may be getting closer. David and Haseeb break down Anthropic's secretive new AI model and why it could expose vulnerabilities across crypto, from smart contracts to core blockchain infrastructure, plus the growing divide around “Q-Day” and how urgent the quantum threat really is. They also unpack Iran's unexpected use of Bitcoin in global trade, the White House's stance on stablecoin yields, and why the market feels stable on the surface while bigger risks continue to build. ---

The biggest data change for UK charities since GDPR is here — and it's an opportunity you can't afford to miss. In this episode, host Josh Leigh, Co-Founder of Hynt, the digital fundraising agency, is joined by a panel of expert; fundraising compliance specialist Cam St-Omer Donaldson, people and processes consultant Kirsty Mooney, and digital marketing expert Sarah Crowhurst to break down everything charities need to know about the new Email Soft Opt-In rules. In this episode, we cover: - What Email Soft Opt-In actually means and what's changed under the new Data Use and Access Act 2025 - Why we're still waiting on ICO guidance — and what you can do right now while you wait - Which teams, systems, and processes across your organisation need to be involved - Why this change is NOT retrospective — and what that means for your existing data - How to document your decision-making to protect your charity - The massive opportunity to grow your email and SMS audiences — and how to make the most of it - What a strong supporter communication programme looks like once you've implemented the change Want support implementing Email Soft Opt-In at your charity? Email hello@hynt.studio with code PODCAST20 for 20% off. Click here to subscribe to our email list for exclusive fundraising resources, early access to training, special discounts and more If you enjoyed this episode, don't forget to hit follow and enable notifications so you'll get notified to be first to hear of future podcast episodes. We'd love to see you back again! And thank you to our friends at JustGiving who make the Fundraising Everywhere Podcast possible.

Allen Ng, Co-Founder & CEO of Everest Venture Group (EVG), joins us to break down why Hong Kong has emerged as Asia's leading crypto hub in 2026.From launching startups in college to working on venture deals later acquired by Amazon, Allen's journey spans the early days of tech to the rise of crypto. Since entering the space during the 2017 ICO era, he has built EVG into a 200-person firm delivering 400+ smart contract audits annually across major blockchain networks.In this conversation, we explore how Asia's crypto landscape has evolved — and why Hong Kong is now at the center of it.Allen shares insights on:- The shift from the ICO era to today's institutional crypto landscape- How Hong Kong overtook Singapore as Asia's top crypto hub- The key differences between Hong Kong's “bottom-up” ecosystem and Singapore's “top-down” approach- Why talent and execution matter more than regulation- How Hong Kong connects to China's vast engineering talent pool- Emerging markets like Vietnam and their growing crypto adoption- What founders should consider when choosing where to build in AsiaThis is a grounded, experience-driven discussion on the realities of building in crypto — based on over a decade of firsthand experience in the industry.

In this episode, Lex chats with Marc Boiron — CEO of Polygon Labs. Marc shares his journey from law to blockchain, discussing the challenges of navigating crypto's evolving legal landscape and the complexities of structuring compliant DeFi projects. He explains Polygon's strategic pivot to focus on stablecoin payments, leveraging its proven blockchain and global partnerships. Marc highlights Polygon's real-world adoption, competitive edge, and vision to become the leading platform for on-chain payments. The episode offers insights into regulatory hurdles, industry trends, and Polygon's mission to transform digital money movement. NOTABLE DISCUSSION POINTS: The Labs-Foundation Structure Is a Frankenstein - and Its Creator Knows It: Marc helped architect the legal frameworks behind major DeFi token launches but openly calls the outcome a “complete Frankenstein.” The arm's-length separation between labs and foundations was necessary to survive regulatory hostility, but makes coherent execution nearly impossible. He argues projects still copying this structure today are doing so out of habit, not legal necessity. Generalist Blockchains Are Dead - Polygon Is Betting Everything on Payments: As chain architectures converge, Boiron believes differentiation through speed and low fees is over. Polygon analysed its actual usage, found stablecoin payments was the standout vertical - $2.3 trillion already moved, fintechs across LatAm, Africa, and Southeast Asia already on-chain - and went all-in. The thesis is binary: if all money moves on-chain within a decade, even the 50th-best payments chain wins big. Polygon's Real Moat Is Enterprise Trust Built During the NFT Era: The 2022–23 enterprise NFT push looked like a dead end after FTX collapsed, but it left behind institutional due diligence and credibility. Fintechs evaluating payments chains find that Polygon has years of live production use, Fortune 500 relationships, and Stripe already defaulting to it - a trust advantage no newly launched chain can replicate. TOPICS Polygon Labs, Polygon protocol, blockchain, crypto, decentralized finance, DeFi, legal frameworks, token launches, meme coins, stablecoins, payments, fintech, Ethereum, ICO boom, web3, NFT, Stripe, Circle   ABOUT THE FINTECH BLUEPRINT

In this episode, I sit down with Tony from Sumex, an OG who's been in crypto since 2016. He shares how they're tackling one of crypto's biggest problems: fragmentation. From managing 20 browser tabs to trade across exchanges, to juggling wallets across different chains, crypto is a mess for most users. Tony walks through how Sumex aggregates CEXs, DEXs, DeFi protocols, and analytics into one intuitive platform. He shares lessons from raising seven figures, hitting $100M in trading volume in just four weeks, and why simplicity beats feature bloat every time. We also dive into what's happening in 2026, why this cycle topped on apathy, and what trends like RWAs and prediction markets mean for retail adoption. --- CONNECT ---Sumex Website: https://sumex.io/Sumex Platform: https://app.sumex.io/Sumex on Twitter/X: https://twitter.com/sumex--- KEY POINTS WITH TIMESTAMPS ---• [01:21] How Tony went from TradFi CFD and forex brokers into crypto in 2017• [04:33] Running an ICO roadshow in 2018 and raising $12M during the boom• [06:16] The core problem Sumex solves: crypto tribalism, fragmentation, and steep learning curves• [07:17] Who Sumex is for: active crypto users across trading, investing, and DeFi• [10:51] How they focused on building the best trading terminal first before expanding• [15:25] Biggest technical challenge: every CEX and DEX has different APIs and documentation• [18:45] Key trends in 2026: RWAs finally have institutional support and legal frameworks• [22:35] Why this cycle topped on apathy and didn't bring in fresh retail blood like NFTs did• [28:56] The feature Tony is most hyped about: the connection manager that aggregates everything• [32:36] Four weeks in: 30,000 users, $100M in futures volume, and what's next• [34:37] Sumex raised seven figures in pre-seed and is looking for strategic investorsDisclaimerNothing mentioned in this podcast is investment advice and please do your own research. It would mean a lot if you can leave a review of this podcast on Apple Podcasts or Spotify and share this podcast with a friend. Be a guest on the podcast or contact us - https://www.web3pod.xyz/

In this episode, I speak with Phil from Augur about why prediction markets still matter and why decentralization in crypto still matters even more. We unpack Augur's long history as one of the earliest projects in crypto, why it lost momentum during high-fee Ethereum days, and why the team believes now is the right time to return. Phil explains how Augur is rebuilding around a modular oracle, how prediction market resolution really works, and why security at the oracle layer is the real game.We also dive into Augur's new white paper, the idea of making truth profitable, and how their escalation game and algorithmic fork are designed to make manipulation expensive. This is a deep but important conversation for anyone building in Web3, following prediction markets, or thinking about the future of decentralized infrastructure.Key points00:01:00 — Augur's early historyAugus explains that Augur was one of the earliest crypto projects, the first ICO, and the first ERC20 token. He also shares how it helped bring prediction markets and decentralized oracles into crypto.00:02:00 — Why Augur lost momentumAugus talks about how DeFi summer and high Ethereum L1 gas fees made Augur harder to use, especially for smaller wagers.00:03:30 — What crypto got wrong about decentralizationWe discuss how many projects promised to decentralize later, but often never followed through. Augus explains why Augur's original design stood apart.00:04:30 — The revival of AugurAugus explains how leftover treasury funds were used to restart development and how the new foundation was formed in 2025 to continue Augur's mission.00:06:30 — What prediction market users are really betting onAugus explains that users are not only betting on an outcome. They are also trusting how that outcome will be resolved.00:08:30 — Why resolution design mattersWe break down why trusting a multisig or centralized team becomes risky when prediction markets get large.00:09:30 — Augur's oracle designAugus explains that Augur's core innovation is a decentralized oracle that allows open participation in market resolution.00:12:00 — Making truth profitableAugus explains Augur's core design principle: align incentives so honest participants make money by supporting the truth.00:15:30 — The limit of escalation gamesAugus explains that escalation alone is not enough because a very large attacker could still outspend everyone else.00:16:00 — Augur's algorithmic forkAugus introduces Augur's key innovation: an algorithmic fork that forces dishonest attackers into the wrong universe.00:17:00 — How the fork works in practiceAugus explains how REP holders migrate into the universe they believe will retain economic value, which pushes honest users toward the truthful outcome.00:19:30 — How attackers lose moneyWe discuss how attackers may win a specific market but still lose overall because their tokens become worthless in the false universe.00:21:15 — How Augur makes moneySam asks about the business model, and Augus explains that Augur is not run for profit. Fees stay inside the protocol to pay for research and participation.00:24:00 — The next 12 months for AugurAugus shares that Augur is separating the oracle from the prediction market front end and focusing on oracle-as-a-service.00:26:00 — What Augur is looking forAugus says they are not fundraising. Instead, they want strong developers, aligned talent, and partnerships with prediction market platforms.Connect with Augurhttps://augur.net/ https://augur.net/blog/the-augur-lituus-whitepaper/https://x.com/AugurProjectDisclaimerNothing mentioned in this podcast is investment advice and please do your own research.It would mean a lot if you can leave a review of this podcast on ApplePodcasts or Spotify and share this podcast with a friend.Be a guest on the podcast or contact us - https://www.web3pod.xyz/

Send a textWelcome to the newest episode of the Serious Privacy podcast, where hosts Paul Breitbarth and Ralph O'Brien address the hot topics of the day with news updates across #privacy, #dataprotection, #security, #AI and #humanrights. No K Royal, who is on a well earned vacation!EDPB, EDPS, ICO, GPA, DUAA and other strings of letters all get discussed!Lots of news, case law, regulatory penalties to discuss including;https://www.edps.europa.eu/data-protection/our-work/publications/events/2026-02-12-data-takes-flight-navigating-privacy-airport_enhttps://ico.org.uk/about-the-ico/media-centre/news-and-blogs/2026/02/reddit-issued-with-1447m-fine-for-children-s-privacy-failures/https://ico.org.uk/media2/fb1br3d4/20260223-iewg-joint-statement-on-ai-generated-imagery.pdfhttps://ico.org.uk/about-the-ico/media-centre/news-and-blogs/2026/02/ico-wins-court-of-appeal-case-in-dsg-retail-ruling/ If you have comments or questions, find us on LinkedIn and Instagram @seriousprivacy, and on BlueSky under @seriousprivacy.eu, @europaulb.seriousprivacy.eu, @heartofprivacy.bsky.app and @igrobrien.seriousprivacy.eu, and email podcast@seriousprivacy.eu. Rate and Review us! From Season 6, our episodes are edited by Fey O'Brien. Our intro and exit music is Channel Intro 24 by Sascha Ende, licensed under CC BY 4.0. with the voiceover by Tim Foley.

What if the biggest missing piece in fighting poverty isn't food or housing—but furniture?In this powerful episode, Alicia Hamilton of Fresh Start Furnishings joins Rich alongside Natalie Johnson, COO of Inner County Outreach, to announce a major partnership that will expand services across Harford and Cecil Counties.After furnishing 321 households and serving over 900 individuals in one year, Alicia realized the next level required bigger infrastructure and shared resources. Now, Fresh Start Furnishings is joining forces with ICO, a 40-year-old nonprofit serving families across multiple counties.You'll hear:• What “furniture poverty” really means • The emotional story behind one life-changing mattress delivery • Why nonprofit sustainability requires strategy, not just passion • How this partnership expands mental health and family services • Advice for anyone thinking about starting a nonprofitLearn more: Fresh Start Furnishings – https://freshstartmd.org Inner County Outreach – https://innercountyoutreach.orgIf this episode moved you, please subscribe, leave a review, and share it with someone who believes in strengthening our community.Send a textVote for us here 10% off All MembershipsRuntime: 2/10/2026 until 2/28/2026Code: CRBPodcast This discount is valid only for memberships purchased February 10, 2026 until February 28, 2026. It cannot be applied retroactively to previous purchases and may not be combined with any other discount or promotion. All memberships purchased are nonrefundable.PodMatchPodMatch Automatically Matches Ideal Podcast Guests and Hosts For InterviewsSupport the showRate & Review on Apple Podcasts Follow the Conversations with Rich Bennett podcast on Social Media:Facebook – Conversations with Rich Bennett Facebook Group (Join the conversation) – Conversations with Rich Bennett podcast group | FacebookTwitter – Conversations with Rich Bennett Instagram – @conversationswithrichbennettTikTok – CWRB (@conversationsrichbennett) | TikTok Sponsors, Affiliates, and ways we pay the bills:Hosted on BuzzsproutSquadCast Subscribe by Email

Thank you to our sponsors! Fuse: The Energy Network MultiChain Advisors Trove Markets crashed at launch after a hyped ICO. X has pulled the plug on the InfoFi meta. Farcaster has been absorbed. In this packed Uneasy Money episode, hosts Luca Netz, Kain Warwick and Taylor Monahan delve into how Trove's crash suggests that crypto's ICO struggles persist. Kain suggests X's move to block out InfoFi applications is “bullish” for the platform and the crew explores what's next for decentralized social media along with the takeaways from Farcaster's run. They also discuss the pervasiveness of wallet poisoning scams, why Cosmos is struggling despite its good tech and why Paradex's rollback suggests that crypto's “code is law” ethos may be dying out. Don't miss out on how Luca nearly got wrapped up in the Trove drama and Tay's tips to spot suspicious projects. Plus, why Kain thinks two people building with AI could succeed where Farcaster failed. Hosts: Luca Netz, CEO of Pudgy Penguins Kain Warwick, Founder of Infinex and Synthetix Taylor Monahan, Security at MetaMask Links: Uneasy Money: ICOs Are Back and Why Airdrops Are Instantly Dumped X Bans Incentivized Posting Apps, Prompting Shakeup in Crypto Engagement Platforms Linda Xie on How Mini-Apps Are Helping Farcaster Take on Web2 Social Media Ethereum Sets New Activity Record as Network Upgrades Pay Off Paradex Rollback Raises Hard Questions After Pricing Glitch Triggers Liquidations Learn more about your ad choices. Visit megaphone.fm/adchoices

From investment banker to crypto fund strategist, Stas Sukhinin shares insider perspectives on how credit committees really make decisions, why over-leveraged companies fail fast during downturns, and where stablecoins are creating trillion-dollar transaction opportunities. In this episode of the DealQuest Podcast, host Corey Kupfer sits down with Stas Sukhinin, a finance veteran with over 19 years of experience spanning investment banking, corporate lending, and alternative asset management. Stas began his career at internationally recognized institutions including UniCredit and Societe General, where he helped pioneer mezzanine loan products in Eastern Europe. By age 29, he had become a senior partner at one of the region's largest mezzanine lenders, managing a team of 20 finance professionals and overseeing a $450 million loan portfolio. WHAT YOU'LL LEARN: In this episode, you'll discover what really happens inside credit committees when your loan application gets reviewed and why factors unrelated to your business can determine outcomes. Stas explains how strong companies can go from healthy to restructuring in just three to four months when leverage catches up with them, and the critical difference between how first-time owners and experienced operators approach debt decisions. You'll learn the two key factors that determine how much debt your business can handle, why working capital provisions in purchase agreements deserve more attention than most buyers give them, and how sellers legally present financials in the most favorable light. The conversation also covers Stas's experience investing in the 2017 ICO boom where 90% of projects went to zero but winners returned 50x to 100x, why venture capital investors sometimes block deals that would be life-changing for founders, and where stablecoin transaction volume is already reaching trillions while most people remain unaware. STAS'S JOURNEY: Stas's path into finance started at age 14 when a classmate brought a business magazine to school. Reading about business owners selling companies for millions crystallized his direction. He knew he wanted to be in corporate lending where he could see businesses, analyze financials, and speak directly with owners while working with numbers at a bank. His first role as a junior credit analyst gave him exactly that. He progressed from working with small businesses that had no financials to mid-sized companies to large corporations. Each step taught him more about how deals really get done from inside the institutions making funding decisions. CREDIT COMMITTEE INSIGHTS: Stas pulls back the curtain on what actually happens when loan applications reach credit committees. The reality differs dramatically from what most business owners imagine. Factors affecting approval can seem completely unrelated to the specific deal. Maybe the bank already has a competitor in their portfolio. Maybe the receivable financing department has a different relationship with someone in your industry. One offhand comment from a committee member who hasn't read the full memo can change the entire trajectory of a conversation or result in higher interest rates. DEBT MANAGEMENT LESSONS: The pattern Stas has seen destroy companies in months follows predictable steps. Revenue drops or stagnates. Margins deteriorate because of increased competition and client uncertainty. Debt ratios that looked comfortable suddenly reach concerning levels. Refinancing options disappear just when needed most. Interest rates climb. Everything compounds simultaneously. The difference between experienced and first-time business owners comes down to scenario planning. Experienced operators build safety margins and stress-test assumptions. First-time owners assume conditions will continue as they are. That assumption determines survival. ALTERNATIVE INVESTMENTS: Stas joined a crypto investment fund at its inception in 2017 during the ICO boom. Out of many investments, approximately 90% went to zero. The winners returned 50x or 100x. His observation about liquidity cycles was particularly interesting. Traditional venture now averages seven-year holding periods while crypto projects can reach liquidity events in three or four years through token distributions. On stablecoins, Stas sees enormous opportunity in programmable money. Transaction volume is already in the trillions though most people in developed countries don't realize the scale. Goldman Sachs reportedly reduced bond settlement time from three days to minutes using blockchain technology. Perfect for business owners considering debt financing, entrepreneurs navigating capital raising, and anyone interested in how credit decisions really get made and where alternative investments are creating new opportunities. FOR MORE ON THIS EPISODE: https://www.coreykupfer.com/blog/stassukhinin FOR MORE ON STAS SUKHININ: https://www.thesourcer.so https://www.linkedin.com/in/stassukhinin/ FOR MORE ON COREY KUPFER https://www.linkedin.com/in/coreykupfer/ https://www.coreykupfer.com/ Corey Kupfer is an expert strategist, negotiator, and dealmaker. He has more than 35 years of professional deal-making and negotiating experience. Corey is a successful entrepreneur, attorney, consultant, author, and professional speaker. He is deeply passionate about deal-driven growth. He is also the creator and host of the DealQuest Podcast. Get deal-ready with the DealQuest Podcast with Corey Kupfer, where like-minded entrepreneurs and business leaders converge, share insights and challenges, and success stories. Equip yourself with the tools, resources, and support necessary to navigate the complex yet rewarding world of dealmaking. Dive into the world of deal-driven growth today! Episode Highlights with Timestamps: [00:00] - Introduction: Stas Sukhinin's 19 years in finance from investment banking to crypto [03:26] - First deal experience: Structuring a real estate development loan with disbursement tied to sales [05:47] - Hidden factors: Why deals get rejected for reasons unrelated to underwriting criteria[08:20] - Committee dynamics: How one comment from an uninvolved member changes deal trajectories [11:41] - Timing and instruments: When companies use the wrong type of capital [15:55] - Risk assumptions: The difference between first-time and experienced business owners [18:29] - Volatility factors: How income stability determines appropriate leverage levels [21:09] - M&A implications: Structuring adjustment provisions for concentration risk [24:09] - Liquidity advantages: Why crypto offers shorter holding periods than traditional venture[27:55] - Venture math: The story of a VC blocking a life-changing exit for 1x returns [29:27] - Due diligence limitations: Legal ways sellers present favorable financials [32:14] - Stablecoins explained: Digital tokens designed to maintain dollar parity [36:31] - Programmable money: Smart contracts that execute automatically on conditions [38:00] - Financial advisory services: How Stas helps business owners understand their financials[39:14] - Freedom defined: Removing gatekeepers and accessing financial systems without barriers Guest Bio: Stas Sukhinin has over 19 years of experience in finance spanning investment banking, corporate lending, and alternative asset management. He began his career at internationally recognized institutions including UniCredit and Societe General, where he helped pioneer mezzanine loan products and shaped the market in Eastern Europe. By age 29, Stas had become a senior partner at one of the region's largest mezzanine lenders, managing a team of 20 finance professionals and overseeing a $450 million loan portfolio. He later served on boards of several private companies, deepening his expertise across credit investments and corporate governance. Recognizing early opportunities in alternative assets, Stas joined a crypto investment fund at its inception in 2017 and continues to lead its strategy and operations. He now helps business owners run more efficiently from the lens of financials through his advisory practice. Host Bio: Corey Kupfer is an expert strategist, negotiator, and dealmaker with more than 35 years of professional deal-making and negotiating experience. Corey is a successful entrepreneur, attorney, consultant, author, and professional speaker deeply passionate about deal-driven growth. He is the creator and host of the DealQuest Podcast. Show Description: Do you want your business to grow faster? The DealQuest Podcast with Corey Kupfer reveals how successful entrepreneurs and business leaders use strategic deals to accelerate growth. From large mergers and acquisitions to capital raising, joint ventures, strategic alliances, real estate deals, and more, this show discusses the full spectrum of deal-driven growth strategies. Get the confidence to pursue deals that will help your company scale faster. Related Episodes: Episode 350 - Tom Dillon: When NOT to Take Venture Capital Money: Explore alternative funding sources including private credit, SBA loans, and sale-leasebacks with a fractional CFO who works with startups on capital strategy. Episode 370 - Gerry Hays: Democratizing Venture Capital Through VentureStaking: Discover alternative approaches to early-stage investing that don't require massive checks or exclusive networks. Episode 85 - Nick Adams: Seed Stage Venture Capital Funds: Understand how traditional VCs think about early-stage deals and what metrics they evaluate from the investor perspective. Episode 351 - Solocast: Deal Structures Beyond M&A and Capital Raising: Learn about joint ventures, strategic alliances, licensing agreements, and other creative partnership models for business growth. Episode 324 - Sejal Lakhani-Bhatt: Tech Due Diligence in M&A: Explore how technology systems and cybersecurity impact business valuation and deal outcomes. Episode 330 - Pete Mohr: Preparing Your Business for Exit: Understand why sellers often cause deals to fail and how to prepare for the emotional aspects of selling a business. Follow DealQuest Podcast: LinkedIn: https://www.linkedin.com/in/coreykupfer/ Website: https://www.coreykupfer.com/ Follow Stas Sukhinin: LinkedIn: https://www.linkedin.com/in/stassukhinin/ Website: https://www.thesourcer.so Keywords/Tags: corporate lending insights, credit committee decisions, debt management for businesses, mezzanine lending, alternative asset management, crypto investment strategy, stablecoin business applications, EBITDA management, leverage risk, working capital due diligence, venture capital exits, ICO investing, blockchain finance, programmable money, business financing, capital structure, due diligence strategies, financial advisory, dealmaking, business growth strategies

Thank you to our sponsors, Multichain Advisors and Mantle! Aave DAO on Christmas Day lost the vote to take control of Aave brand assets, but the fight is likely not over. In this Uneasy Money episode Aave Chan Initiative (ACI) founder Marc Zeller takes hosts Kain Warwick and Taylor Monahan inside the fight over one of DeFi's biggest names, teasing a “phase two” of the fight. Plus, why is Infinex's ICO getting so much flak and are claims of insider trading on Polymarket misguided? Hosts: Kain Warwick Taylor Monahan Guests: Marc Zeller, Founder of the Aave Chan Initiative (ACI) Links: Uneasy Money: Why Token Holders Have No Rights & Why Every DAO ‘Has Failed' Aave Labs Proposes Off-Protocol Revenue Sharing With Token Holders Aave's Rushed Governance Vote Draws Backlash Infinex Changes INX Token Sale Terms After Low Demand MegaETH Just Had Its Public Sale. Can It Succeed in Building a Web2-Like Experience? Polymarket Introduces Taker Fees in 15-Minute Markets Polymarket Resolves Issues After Polygon Network Disruption How to Trade Prediction Markets Without an Opinion on the Event Ethereum's Vitalik Buterin Says Blockchain Trilemma ‘Has Been Solved' Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome to The Chopping Block — where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner chop it up about the latest in crypto. It's a new year, and that means the crew is back with their annual year-end awards and predictions episode. First up: the 2025 winners and losers. From Trump's meme-coin windfall to Gary Gensler's legacy getting torched, from prediction markets going mainstream to Web3 getting its official eulogy — no one is safe. The team debates the biggest surprises (Circle's shocking IPO run, Ethereum's pivot under new leadership, Zcash's unlikely comeback), the best new mechanisms (ICO 2.0, DATs, federal preemption), and the year's best memes (including the Chopping Block's own tariff factory video). Then comes the flops and comebacks: AI agents that overpromised, Berachain's fall from grace, and Tether somehow winning again. Finally, the crew reviews how badly their 2025 predictions aged — spoiler: not great — and lays out fresh calls for 2026 including AI-powered hacks, stable-coin-funded AI capex, and equity perps taking over DeFi. New year, fresh takes, brutal honesty — let's get into it. Show highlights

Listen to the episode on Apple Podcasts, Spotify, Pods, Fountain, Podcast Addict, Pocket Casts, Amazon Music, or on your favorite podcast platform. Thank you to our sponsor, Mantle. Sign up for their hackathon here! Crypto markets this year failed to live up to expectations, raising questions about the trajectory for next year. The situation is further complicated by speculation that Bitcoin is about to kick off a multiyear decline in line with the so-called four year cycle. In this Unchained podcast episode, Delphi Digital analysts Jason Pagoulatos and Jordan Yeakley break down the market and applications outlook for next year. They look at whether the four year cycle would hold, what gold's run means for Bitcoin and the conditions that have led to recent market apathy. They also discussed whether the recent resurgence of privacy coins is a fad and who would come out on top in the race to become an “everything app.” Is the four year cycle the result of multiple coincidences? And, is X the dark horse in the everything app meta? Guests: Jason Pagoulatos, Head of Markets at Delphi Digital Jordan Yeakley, CFA, Research Analyst at Delphi Digital Previous appearances on Unchained: What Went Wrong With Pump's ICO and Where It Goes From Here How Crypto Markets Are Post-Selloff, With Election/Fed Uncertainty Links Unchained: Will Bitcoin's New Phase Change It Forever? And Is the 4-Year Cycle Dead? The Chopping Block: Hyperliquid vs. Tarun, ADL Transparency & The Coming Perps Arms Race What Ethereum Will Look Like When It Implements Its New Privacy Focus Why the Privacy Coins Mania Is Much More Than Price Action Coinbase Launches Stock Trading and Prediction Markets Inside Robinhood's Big Super App Plan: ‘There's Still a Lot of Work to Be Done' How the x402 Standard Is Enabling AI Agents to Pay Each Other Learn more about your ad choices. Visit megaphone.fm/adchoices

Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com Thank you to our sponsors! Figure Uniswap Robinhood is moving toward offering a full suite of crypto services and overhauling the infrastructure underpinning its stock trading services with blockchain technology.  In this episode of Unchained, Robinhood Crypto Senior Vice President and General Manager Johann Kerbrat discusses the company's “super app ambitions” and potential competition with Coinbase.  He also discusses the platform's entry into prediction markets and resistance from state regulators. Could state opposition to prediction markets drive businesses offshore? Plus, will tokenized stocks make IPOs redundant? And where are we in the crypto market? Guest: Johann Kerbrat, Senior Vice President and General Manager of Robinhood Crypto Links: Previous appearances on Unchained: Why Robinhood, a TradFi Hub, Is Growing Its Crypto Business Globally Unchained: Robinhood Is Building Its Own Layer 2 Blockchain Perps Are Coming to America. Will Coinbase and Robinhood Win the Race? OpenAI Says Robinhood's Stock Tokens Are Not Equity Coinbase Expands Into Tokenized Stocks and Prediction Markets Coinbase Launches Digital Token Sales Platform Coinbase Buys Cobie's ‘Up Only' NFT and Echo in $375 Million Deal Timestamps: