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The First Six Messages from Mr. Cavor

Most of us use social media every day. The attraction and addiction of these platforms spans all ages, cultures, and communities (for the most part. Even my 61-year-old father gave up his flip phone and became a smartphone user, who scrolls through Facebook at least 2 hours a day. We rely on social media to stay in touch with loved ones around the world, run our businesses, log in to paid services, and more. But is this tech doing more harm than good? Let's talk about it. This Slack discussion by , , Amy Tom, and occurred in , and has been edited for readability. Nataraj Sindam Jean Machuca Sidra slogging's official #expert-interviews channel Is social media doing more harm than good? Limarc Ambalina Jan 15, 2021, 4:17 AM So Nataraj, after watching The Social Dilemma last year, my eyes were opened to issues I knew existed, but not to that extent revealed in the film. What do you think about the current state of social media? Is it doing more harm than good? Limarc Ambalina Jan 15, 2021, 4:18 AM Before jumping in to the good vs bad, what are we really meaning when we use the term Social Media? Is YouTube a social media product? Is Hackernoon a social media product? Is the Google Feed on an android phone also Social Media? Nataraj Sindam Jan 16, 2021, 6:08 PM For the purposes of this conversation, let's keep it focused on the biggest social media platforms of the past 10 years: Facebook, Twitter, Instagram, TikTok, Youtube, Snapchat. Limarc Ambalina Jan 17, 2021, 1:17 PM Social networks when just viewed as a means to connect individuals living anywhere in the world are useful. They laid the foundations for the formations of virtual networks. Networks that are based on interests, rather than any other form of social or physical filters that we have in real world. It created a wave of interactions that were not possible before. Having said that, the networks could have evolved in any direction, but most often they are primarily driven for optimizing the growth of the Product/Company that they are part of. And there in started the problems. Nataraj Sindam Jan 29, 2021, 8:08 AM So you believe that these platforms were started with good intentions in mind, but eventually became more about profit rather than serving the user? IF so, could you give an example of a company that's fallen into this trap and how they could possibly get out of it and return to serving the user first. Limarc Ambalina Jan 29, 2021, 8:31 AM I think the underlying business models and the incentives behind the models are flawed. And the features designed in most social products are to keep the users hooked to the platform. So whatever the intentions might be, the incentives that are rewarded makes the difference in the product. One design choice for example which could be imagined differently and will have impact across social products is: - Recommendation systems could be easily changed to increase the serendipity effect and to break the echo chamber loops of the consumers but it is never implemented because the incentive for a product manager to do this is not there. He or she is supposed to increase the engagement, not put the engagement in jeopardy by introducing serendipity. Nataraj Sindam Feb 5, 2021, 5:59 PM Probably off-topic but this is my point of view. If we make a recap of the latest 20 years we can find two generation groups of social networks: in one side of the street (1st old generation) we have  ICQ, MSN Hotmail, Latinmail, MySpace, Hi5 are the ones that I most remember. On the other side we have Facebook, Instagram, Snapchat, VK, WhatsApp. But now I see emerging social networks that are more closed than open focused in private groups like Slack, Discord, Teams, Zoom. I mention all of these  tools like social networks because of they are somehow social, and they share a network. So my conclusion is that almost every 10 years we are experiencing a kind of disruptive change in the way we try to be connected and communicate between us. Coming back to topic, I think issues that provoke more harm than good in social networks will be always present if we don’t understand the basics of privacy and data ownership. Jean Machuca Feb 6, 2021, 3:24 AM Those are very interesting points by both of you Nataraj and Jean. Talking about earlier forms of social media like MySpace, MSN, these tools fostered your own participation and content creation. In short, I believe earlier forms of social media were dependent on your own creativity. Some earlier social media platforms were dependent on building pages with HTML. At the same time, there were way fewer recommendation algorithms at play. It was on the user to create and search for the most interesting profiles on the platform. Limarc Ambalina Feb 6, 2021, 3:08 PM I remember the early days of MSN and after school, MSN became the new playground. This is where everyone would meet with their friends and talk and "hangout" after school. If you weren't on MSN, you weren't cool and you would be left out of things discussed on MSN the day before. In short, MSN itself changed the way my generation socialized growing up. I fear that modern social media and the smartphone have done the same thing but at a much larger scale. Giving children endorphin rushes when they see the amount of likes grow on a picture just seems dangerous to me. Anyone agree? Limarc Ambalina Feb 9, 2021, 4:46 PM I think the problem doesn’t lie in the smartphone, but in the applications - specifically from tech giant Facebook (and Instagram). They have the HUGE power to change the way youth grow up and what they value. My 15 year-old cousin removes photos that don’t get enough likes on them and will only keep his top 9 most liked photos. Remember when Instagram started experimenting with removing the ability to view the total number of likes? Completely disrupted the dopamine that you get from “likes” Amy Tom Feb 9, 2021, 5:03 PM Limarc Ambalina I agree with you on the point that smartphones and social media have induced this addiction and craving for validation among youth. Also, it is easier to fool, bully, stalk, and catfish innocent people through technology. However, there is a bright side as well. Just a decade ago, I couldn’t even imagine that I can share thoughts and socialize with people around the world. Technology has connected me with some amazing people from whom I have learned a lot. This small device in my hand has broadened my perspective about many things and given me the confidence to connect with people. Sidra Feb 9, 2021, 5:16 PM Super interesting points! Amy Tom I like the direction Instagram is taking as well and perhaps Facebook should be doing the same. Sidra, of course I agree that there is a bright side to social media and the amazing evolution of the smartphone. However, I think that you may have confidence to connect with people because you didn't grow up with this technology. You learnt how to socialize and connect face-to-face and therefore have both the skills to connect with people offline and online. I don't think this can be so easily be said for all the children growing up with social media as a prime form of commnication. Limarc Ambalina Feb 10, 2021, 8:16 PM Sidra that’s a great point. Aside from the potential harm that social media is causing youth and to go back to the original question, I believe my smartphone has improved my socialization abilities. This is especially true during the pandemic with social distancing when it’s not possible to see people in person. I have had video chats that lasted hours and hours; I would not have had these experiences without my phone, or at least without unified communications and Internet Amy Tom Feb 11, 2021, 5:44 PM Limarc Ambalina your concerns are genuine. Our social life is evolving due to tech - kids judge each other on the number of followers and likes (This reminds me of Nosedive from black mirror). COVID-19 has made things worse. There is a need for balance. Amy Tom I can relate to you! But perhaps we need a balance? Sidra Feb 12, 2021, 5:31 AM

Is Social Media Doing More Harm than Good? 

October’s official CPI inflation numbers came in at a 6.2% year-over-year increase, and the eurozone’s inflation rose to 4.1%. The U.S. inflation hit 30-year-high and the European 13-year-high. Here’s one way to describe what that means. According to official numbers, you lost money unless you got a 6.2% pay raise this year. In other words, thanks to inflation, you got a pay cut. So what is the primary driver of inflation? The answer is obvious and acknowledging the problem is the first step to solving it. However, most reports about inflation ignore the elephant in the room. We have inflation because the central banks print too much money into circulation. The more money is in circulation, the less they’re worth. Rising prices are just a consequence of monetary policies, and governments can blame it on the pandemic or supply shortages, but that’s simply not true. Why it isn’t true? When the central banks print more money and give it to people to spend, that doesn’t mean there is more product to buy. You just have more money to buy the same stuff. That’s basic supply and demand. However, it’s important to remember that the real inflation rate is much higher than 6.2% or 4.1%. Every sophisticated person knows that these numbers are not accurate. We don’t have time to discuss the intricacies of the official and unofficial inflation numbers, and I wrote about how the numbers are manipulated in my previous articles. But even with all that rigging, we still have 6.2% and 4.1% inflation, so you can imagine how bad the actual numbers are. More gas on inflation fire The problem is that the Fed and ECB make the situation even worse. And not only by ignoring it, but they’re actually pouring more gas on the fire. According to data from the Fed, 36% of all the money printed in the US was printed in the last 15 months. Things are getting out of hand. Most rich people have realized that inflation is here to stay, and they’ll have to protect themselves. They’re choosing Bitcoin and equities over paper money, with which governments are conducting a dangerous experiment. But Bitcoin and stocks aren’t the only assets that are benefiting from inflation. For example, here are selected commodity returns in 2021: Natural Gas:  107.6%
Coffee: +75%
Gasoline: +64.5%
WTI Crude: +64.3%
Heating Oil: +63.2%
Cotton:  +47.4%
Aluminum: +34.6%
Wheat: +36.3%
Sugar: +29.1%
Copper: 24.8%
Corn: +19.3%
Lumber: +15%
Silver: -5.3%
Gold: -2% As you can see, everything is up, more than double digits, except for the silver and gold. It may sound surprising to some, but gold has been one of the worst performers in the last decade. The historical safe-haven asset has lost value during the high inflation. Pretty incredible. In a nutshell, we have stocks, real estate, Bitcoin, wages, and inflation near an all-time-highs, yet our central banks hold interest rates down at 0% and print trillions more. That’s not the way how you combat inflation. Deny, deny, deny Rather than fighting inflation, the American and European governments just keep changing the media narrative. The narrative last year was that inflation wasn’t something to worry about, and then it evolved into inflation being transitory. And we’re now seeing a narrative of “inflation is good for you!” Inflation isn’t good for you. It’s not fun to have less food. They print money out of nothing, dumping trillions of new money in the system, and that new money dilutes the value of existing money. As a direct result, the entire US and European middle-class population is being taxed by record inflation. As Elon Musk has recently put it,  “Inflation is the most regressive tax of all, yet is advocated by those who claim to be progressive.” Don’t fight the Fed There’s an old saying on Wall Street “Don’t fight the Fed.” In fact, no one is fighting the Fed. However, the Fed will eventually beat itself at its own game. There’s a limit to how long the Fed and ECB can print money and keep interest rates low. At some point, maybe sooner than you think, the hyperinflation arrives, and the currencies collapse. I can almost hear you thinking that the official measurement for hyperinflation is 50% month-over-month inflation. Why is the number 50% month-over-month? No one knows. Probably, it’s just a random number that some university professors came up with. According to that definition, if inflation is 49% month-over-month, it doesn’t count as hyperinflation even if the people literally can’t afford to buy food. In reality, if you were living in a country with 10% month-over-month inflation, you would be trying to run away as fast as you could from that country. You wouldn’t be waiting around for inflation to hit 51% a month to alert you that hyperinflation arrived. It’s better to think of hyperinflation as just technically high, runaway inflation. It’s not 50% monthly inflation, as the academics tell us. If we get to that point, it going to be too late anyway. In fact, any double-digit inflation is catastrophic to economies. Unfortunately, we're getting dangerously close to that number. Final thought First of all, don’t rely on the Fed or ECB to fix inflation. Whether they do anything or not, the prices are not waiting around. Inflation is nasty stuff. It’s the permanent feature of the world economy, and it’s not transitory, as they told us. It can significantly damage your purchasing power and your life. There’s no silver bullet for solving inflation, but there is a simple template for how it should be done. Simply don’t hold any cash on your account and start investing. I might sound like a broken record, but you have to learn about investing unless you want to be robbed in real-time.

Money Printing: The Ugly “Elephant in the Room” That Mainstream Media Ignores

Caption: James Gillray, The Old Lady of Threadneedle Street, 22 May 1797, public domain, courtesy of the Bank of England By Stephen Moore, Sam Kazemian and Ralph Benko On a New Prophecy From The Oracle of “The Old Lady of Threadneedle Street” The Kansas City Fed held its annual central bankers’ conclave at recently. Mark Carney, the governor of the Bank of England, had something very interesting to say there. Jackson Hole Call Gov. Carney the Oracle of “The Old Lady of Threadneedle Street," long the BoE’s nickname. Carney whispered in delicate central-bankerly terms of the potential overthrow of the dollar as the world’s ruling currency. The coup’s leadership? Cryptocurrency. Governor Carney: “While the likelihood of a multipolar IMFS [International Monetary and Financial System] might seem distant at present, technological developments provide the potential for such a world to emerge. Such a platform would be based on the virtual rather than the physical. “History shows that the rise of a reserve currency is founded on its usefulness as a medium of exchange, by reducing the cost and increasing the convenience of international payments. The additional functions of money – as a unit of account and store of wealth – come later, and reinforce the payments motive. “Technology has the potential to disrupt the network externalities that prevent the incumbent global reserve currency from being displaced. “Retail transactions are taking place increasingly online rather than on the high street, and through electronic payments over cash. And the relatively high costs of domestic and cross border electronic payments are encouraging innovation, with new entrants applying new technologies to offer lower cost, more convenient retail payment services. “The most high profile of these has been Libra – a new payments infrastructure based on an international stablecoin fully backed by reserve assets in a basket of currencies including the US dollar, the euro, and sterling. It could be exchanged between users on messaging platforms and with participating retailers. “There are a host of fundamental issues that Libra must address, ranging from privacy to AML/CFT [Anti-Money Laundering and Countering Financing of Terrorism] and operational resilience. In addition, depending on its design, it could have substantial implications for both monetary and financial stability.” Indeed there are a host of issues and implications. We respectfully suggest that Libra already has stumbled upon these. Other stablecoins, however, may clear these legitimate hurdles. Follow along. Governor Carney clearly grasps what central bankers used to call “ .” Those rules prevailed back when the central banking game had rules rather than operating by an arcane “Calvinball” discretion. the rules of the game Carney went on to hint at the possibility that private sector innovation, rather than wise regulators, might prove the engine of progress. “The Bank of England and other regulators have been clear that unlike in social media, for which standards and regulations are only now being developed after the technologies have been adopted by billions of users, the terms of engagement for any new systemic private payments system must be in force well in advance of any launch. “As a consequence, , perhaps through a network of central bank digital currencies. [Emphasis added.]” it is an open question whether such a new Synthetic Hegemonic Currency (SHC) would be best provided by the public sector An open question indeed. Full disclosure: Frax, a stablecoin company which we, with several others, cofounded is set out to accomplish nothing less. Facebook fielded an extraordinarily gifted team of coders and designers proficient in to fashion Libra. Bravo. First rate! Move Its team’s grasp of monetary economics? Not so much. Libra has incorporated some crippling conceptual design deficiencies. Some are severe and, we believe, fatal. Where Libra Went Wrong As former Fed governor Henry Wallach once said, “Experience is the name we give to our past mistakes, reform that which we give to future ones.”   Let’s consider three of Libra’s “reforms.” A Tisket a Tasket, a Green and Yellow Basket Libra’s designers chose to back their token with a basket of currencies rather than with the reigning dollar. This likely was done with an eye toward catholicity. That said, the use of a basket is extremely problematic for a unit of account. A Libra will wobble against the dollar. Indeed, it will wobble against every other currency in the world. Irksome. The Libra-denominated price of everything will vary daily, even hourly. When we pull up to the pump the price of gasoline might be 3 Libras per gallon. It might be 3.01 Libras per gallon by the time we top off the tank. This is hardly catastrophic. Yet this is almost certain to prove chronically annoying. It is not optimal for commerce. Consumers do not like uncertainty in pricing, even ones of a modest order. John Wanamaker made a tidy fortune by inventing the concept of the retail price tag in 1861. This practice has since become . Departing from it is a great leap backward. The use of a currency basket, rather than the dollar, surely was well intended. It presents as a gesture of respect to a new world order chosen in preference to Americacentric. de rigueur That said, called the basket of currencies' precursor, the IMF’s SDR, the  "Esperanto” of currencies which “lacks a natural constituency.” Eichengreen and Frankel A basket of currencies may in theory be superior to the dollar. Yet as Yogi Berra taught us, “In theory there is no difference between theory and practice but in practice there is.” Libra violates Berra’s law. One can never violate this law with impunity. Our own offering, Frax, tracks the dollar. This provides the Frax immutable stability in the world’s most powerful economy, America, which with less than 5% of the world’s population generates over 20% of the world’s income. America is the world's dominant economic power. It is unwise to ignore this fact. Also, not immaterially, the dollar is the world’s legal reserve asset against which other nation’s currencies are held. The dollar is, in fact, the world’s money. It is comparable to how English is the world’s commercial lingua franca. Peter S. Goodman observed in the last February: Don’t fight the ticker. New York Times “The dollar has in recent years amassed greater stature as the favored repository for global savings, the paramount refuge in times of crisis and the key form of exchange for commodities like oil. … In a clear indication that the American currency has been gaining power, dollar-denominated lending to borrowers outside the United States, excluding banks, soared between late 2007 and early 2018, according to the . It increased to more than 14 percent of global economic output from less than 10 percent." And as neatly summed up recently by David Beckworth at in The Challenges of Dollar Dominance: “The dollar is now a truly hegemonic currency and, as a result, creates challenges not only for other countries but also for the United States. Bank for International Settlements Mercatus.org “The dollar’s dominance is evidenced by the of international trade being invoiced in dollars, the of relatively liquid, dollar-denominated debt held outside the United States, and the of the world economy’s currencies anchored in varying degrees to the dollar." 50 to 80 percent $28 trillion 70 percent Economically speaking it was a tyro error for Facebook to go with a basket of currencies. By contrast, Frax will provide a stablecoin that tracks to the dollar. This avoids the ongoing distortion of this token as a unit of account. This virtue applies domestically for American retail and business consumers. It applies internationally thanks to the dollar’s status as the world’s international reserve currency making the dollar the world’s base money. Meaning? Frax, unlike Libra, is to be a stable stablecoin. Full Reserve vs. Fractional Reserve Frax will also enjoy the suppleness (and profitability) of the fractional reserve. Libra’s reliance on 100% backing by the basket of fiduciary (or as they put it, fiat) currencies is another design flaw. The idea that there is something unsound about fractional reserve is a discredited fallacy perpetrated by the late economist Murray Rothbard. Just to, in passing, dispose of the misconceptions harbored by any remaining Rothbard diehards… Adam Smith, the canonical authority on free markets, observed in in : Wealth of Nations “When, therefore, by the substitution of paper, the gold and silver necessary for circulation is reduced to, perhaps, a fifth part of the former quantity, if the value of only the greater part of the other four-fifths be added to the funds which are destined for the maintenance of industry, it must make a very considerable addition to the quantity of that industry, and, consequently, to the value of the annual produce of land and labour.” Libra’s insistence on 100% reserve backing rather reminds us of a trope used in the Beverly Hillbillies. Jed and Granny would pop into the bank to see and count their money. As Leslie Dale Feldman writes in : Rustics and Politics: The Political Theory of the Beverly Hillbillies “[Granny] gets a paper bag for the money and goes to see Mr. Drysdale. Jed says, “Just give her the money and we’ll go” and they think that Mr. Drysdale doesn’t have the money, or, if he does have it, it will fit in the paper bag.  Granny says, “I don’t want no check. I want my money—cash.” Mr. Drysdale says, “I’ve got all of your money” and Jed asks, “Where is it?” to which Mr. Drysdale replies, “It’s invested—in stocks, bonds.” At this point Jed, who does not know what “invested” means, says, “Mr. Drysdale, you always told me I have $45 million in cash” and Mr. Drysdale says, “Well, you have—but not cash cash—like I said, it’s invested.”  Jed says, “Maybe you better start getting’ it together—it would ease my mind considerable to see it” to which Mr. Drysdale says, “You don’t understand.” “Granny and Jed transfer Granny’s money, in a check, to Mr. Cushing’s bank—but then ask him to see the money. “Dogged if he didn’t go through it quicker than Mr. Drysdale,” says Granny when he can’t produce it and she puts the money back in the Commerce Bank with Mr. Drysdale. In “Lafe Lingers On,” Lafe Crick, from back home, gets a job as a night watchman at the Commerce Bank so he can “watch” Jed’s money. When he gets to the bank he looks around Miss Jane’s office for the money—but he doesn’t see it and Mr. Drysdale explains, “Mr. Clampett’s fortune isn’t actually here.” Like the Clampetts, Lafe thinks the money is actually in the bank building. “The Clampetts, with their fortune, do not understand the concept of “interest” or the fact that you cannot take $11 million dollars out of the bank in a paper bag, or the fact that the bank cannot give you $11 million dollar—it would be like asking for the money in the form of barter—in goats, pigs, and chickens—which is something they might also do. … “John Locke describes the move from barter to money in The Second Treatise of Government….” No hillbilly elegy here. Libra’s designers appear intent on moving us backward. Intent or not, it is unthinkable that the world will retreat to pre-Lockean economics, even with the help of the blockchain. It is unnecessary – and retrograde – to maintain a 100% reserve. As monetary commentator Nathan Lewis ( by Steve Forbes “the world’s foremost monetary expert”) observed at upon an analogous matter: recently called Forbes.com “The amount of metal piled in a vault has little relationship to the value (or quantity) of paper banknotes. In 1779 the Bank of England held 953,066 ounces of gold in reserve. In 1783 it had fallen to 339,261 ounces. A year later, in 1784, it had grown to 1,683,724 ounces. The gyrations had no effect on the value of the British pound, pegged to gold at 3.89375 pounds per ounce. “Nor did banks ever have a 100% reserve of gold. In 1888 U.S. banks had a bullion-to-banknote ratio of 34.86%. By 1895 it had fallen to 12.33%. In 1906 it had grown again to 42.42%. It did not matter to the value of the dollar, which was pegged to gold at $20.67 per ounce. “A gold standard does not place some artificial limit on the supply of money, nor is the supply of money constrained to the output of gold mines. Between 1775 and 1900 the U.S.' base money supply increased by 163 times--in line with an expanding economy and a population that went from 3.9 million in 1790 to 76 million in 1900. Over this 125-year period the amount of gold in the world increased by about 3.4 times due to mining.” We can only look upon Libra and cry, with Mr. Drysdale, “You don’t understand.” We believe reliance on this model has crippled Libra right out of the gate. Central Planning vs. Decentralization Much of the 20th century was a cold war between central planners – epitomized by the USSR and Mao’s China – and the decentralizers, epitomized by President Ronald Reagan’s Supply-Side economics (of which two of the authors here were junior principals) and Chairman Deng Xiaoping’s “Poverty is not socialism. To be rich is glorious.”  推行“一个国家两种制度”，谁也不好吞掉谁。 Decentralization has both political and economic virtues. It is inherently democratic. The body of users makes governance decisions. Because of “invisible hand” dynamics of human nature the incentive of the owners is to maintain the integrity, and thus value, of the “product,” in this case the token. Economically, as James Suriwiecki observed in , it harnesses the power of “group intelligence.” “Consider an experiment that the financial analyst Jack Treynor did. First Treynor had the students in his finance class guess the number of jelly beans in a jar. Not surprisingly, the average guess was within 3 percent of the number of beans in the jar (there were 850 beans in the jar, and the mean guess was 871), and only one person in the class did better than the group as a whole.” The Wisdom of Crowds Despite its stated aspirations to evolve beyond central planning Libra is centralized. Moreover, its governance body is as convoluted as that of the United Nations and likely to be similarly unable to govern capably. In our view there is irony to how very antithetical Libra’s governance protocols are to Facebook’s lithe and market-dominating ethos, “Move fast and break things.” Libra presents as the MySpace of cryptocurrencies. Libra has forgone the power of group intelligence for an indefinite period, perhaps forever. In our view, whether indefinite or forever, this is a crippling mistake. Free markets are far less patient with defective products than are governments. Frax has opted for decentralization in its governance. It is harnessing the power of group intelligence. It uses smart contracts to open up an entirely new taxonomical category of financial instrument. Immunized from manipulation, the Frax model (which has straightforward KYC and AML procedures) may prove immune to the abuses for which federal regulators are otherwise needed to protect the public. Frax thus may even prove outside of the jurisdiction – and onerous compliance costs – of such regulation. If so, this will pass great cost savings on to Frax’s user base by providing comparable protection at far lower cost. Is Libra or Frax the Better Candidate for the Prophesied Synthetic Hegemonic Currency? We submit that Libra’s designers have made three fatal design errors. The Frax team, by contrast, has seized upon several powerful design advantages which should give it pole position in the race to become the Synthetic Hegemonic Currency. To reiterate, Bank of England Governor Mark Carney observed at Jackson Hole that: “While the likelihood of a multipolar IMFS might seem distant at present, technological developments provide the potential for such a world to emerge. Such a platform would be based on the virtual rather than the physical.” Meaning, presumably, stablecoins. The world is manifestly moving from a Cold War bi-polar geopolitics to a Post-Cold-War American unipolarity to an emerging multipolar geopolitical order. This may well have implications, sooner or later, for the dollar’s hegemony. What might come next? Gov. Carney: “As a consequence, , perhaps through a network of central bank digital currencies.” [Emphasis added.] it is an open question whether such a new Synthetic Hegemonic Currency (SHC) would be best provided by the public sector Both Libra and Frax contend for the status of the genesis block of the coming Synthetic Hegemonic Currency. Libra: A wobbly unit of account. Fully reserved. Centralized. Frax: A stable unit of account. Fractional reserved. Decentralized. Choose one. May the best cryptocurrency win. +++ The authors are among the co-founders of Frax. Stephen Moore is the chief economic officer, Sam Kazemian is the chief executive officer, and Ralph Benko is the general counsel to Frax, a stablecoin provisionally scheduled for release in Q1 2020. Moore, a leading economic policy expert, is co-author, with Dr. Arthur B. Laffer, of an influential economic policy advisor to President Trump, and was recently named by as the 32nd most powerful figure in global finance; Trumponomics: Inside the America First Plan to Revive Our Economy, Worth Magazine Kazemian, an Iranian-American software programmer, is co-founder and president of Everipedia, a for-profit, wiki-based online encyclopedia founded with Theodor Forselius in 2014; Benko, the founder of the Prosperity Caucus, is a former Reagan White House deputy general counsel and former senior counselor to the Chamber of Digital Commerce, the largest trade association representing the blockchain ecosystem.

Making Good Money: The
Coming Synthetic Hegemonic Currency

Obligatory Disclaimer: To modify a quote from Tim Ferris, “I am NOT a financial advisor, and none of this advice should be taken without speaking to a qualified professional first. Also, my results [are most likely] due to pure luck and zero skill.” Tomorrow evening, Bitcoin futures will be available for investment on Cboe, and the crypto world as we know will never be the same again. It is no secret to long-time hodlers in the crypto space that . This is a battle that has been a long time coming, and the investment space is both terrified and incredibly excited to see how things will shake out. Some people believe Wall Street’s only goal is to short Bitcoin and watch their rival go up in flames. But I believe differently. Bitcoin’s final boss is Wall Street and the legacy banking system I’m sure you’ve heard all the analogies comparing Bitcoin to a bubble like the Dot Com Crash, or the Tulip scandal. Most people don’t realize how absurd these comparisons are. Further, most people have little to no understanding of the implied economics of Bitcoin. There is a limited supply, an exponentially increasing demand ( ), and more value and security than in the US Dollar’s wildest dreams. a recent Cambridge study suggests 200 million users by 2024 Yes, the media has characterized Wall Street personalities as braggarts who plan to short Bitcoin and watch the crypto world crumble. While those traders will probably make some decent profits from shorting in the very near term, it is more probable that they will be the ones getting burned. The very announcement that Bitcoin futures were going to be available correlated to a massive growth in the BTC price, : as illustrated in a recent Bloomberg article To see the full article: https://www.bloomberg.com/news/articles/2017-12-09/bitcoin-futures-trading-brings-crypto-into-mainstream-finance But what if these announcements weren’t actually the cause of the spike, like the media tends to believe? What if Bitcoin is actually becoming mainstream enough to survive on its own? If that’s the case, Wall Street and its legacy bankers are going to realize rather quickly that they’d be fools to short Bitcoin. They’ll realize there is incredible profit to made by supporting Bitcoin. I believe we will see things unfold like this: Wall Street starts shorting Bitcoin on Sunday night Uncle Joe and Aunt Martha move their old stocks into Bitcoin futures, because nephew Timmy is richer than they are from his early Bitcoin investments. They make an insane profit in a few days, leading them to evangelize Bitcoin to their friends and neighbors #2 repeats on a national level, causing BTC to raise to absurd levels ( ; others even higher) some people are predicting a steady $20k by the end of the year Wall Street gets massive FOMO and starts investing in BTC instead of shorting I believe it is much more likely that we will see an explosion of interest in Bitcoin in the next week or two — unlike anything the financial industry has experienced before. If that happens, do you really think Wall Street will be shorting Bitcoin for long? I want you to get into Bitcoin. So does the community at large. The next evolution of the financial industry is just around the corner; we’re excited about it and want you along for the journey. I just ask one thing: be an informed investor. Do good research. Understand your personal risk levels. Practice good security. With well-rounded investors, Bitcoin can only continue to flourish. If you haven’t invested in Bitcoin yet and you want to join the movement, the easiest way to begin is with Coinbase. Get $10 of free Bitcoin when you use this link — it’s my referral link — and get started now! If you’d like to start using an exchange instead of Coinbase, Binance is a great place to start. Sign up here !

How Bitcoin Futures will Affect BTC’s Price

Elmo checks in with the internet to find it is full of . anxious, broke, and depressed people Surprising no one, depressing everyone. In an age where the internet serves as a mirror to society's collective psyche, a simple check-in by a beloved character like Elmo unveiled so much about the current state of public sentiment. Yeah, the adorable red Muppet from Sesame Street decided to ask how everyone was doing on X (formerly Twitter), and oh boy, did the internet have a lot to say. The responses ranged from heartbreakingly honest to calls for help, painting a vivid picture of the collective mood online. With over 198 million views, Elmo's post didn't just go viral; it opened a floodgate of emotions, leading to an unexpected yet necessary conversation about mental health. So, what does this tell us, especially those of us navigating the ? Let's dive in. complex world of marketing and community engagement The Power of Asking "How Are You?" First off, when was the last time a brand genuinely asked you how you were doing? And I mean, really asked, not just as a prelude to selling you something. Elmo's simple question struck a chord because it felt real, unfiltered, and devoid of any marketing agenda. It's a powerful reminder that behind every screen, there's a human being, possibly waiting for a sign that someone cares. But here's a twist: this isn't just about how brands interact with consumers. It's a two-way street. Behind every brand logo, social media post, or promotional email, there's a person. Someone who's navigating their own set of challenges, trying to bridge the gap between corporate objectives and genuine human connection. It's easy to forget that in our rush to express dissatisfaction or demand attention, we're addressing fellow human beings. People who, just like us, appreciate kindness and understanding. This realization brings me an important reflection: kindness should be the cornerstone of our interactions online, not an afterthought. In a world often criticized for its capitalist drives, where transactions often overshadow genuine human interaction, choosing kindness IS revolutionary. Digital spaces need to be better. Kinder. So, the next time a brand asks, "How are you?" consider it an opportunity. An opportunity to engage in a more meaningful, empathetic convo. And when we, as consumers, reach out to brands, let's remember the power of kindness. In our demanding, fast-paced world, a little kindness can go a long way. Let’s create a ripple effect that, despite—or perhaps because of—capitalism, transforms our online interactions into something more human, more connected. Lessons from Pop Culture You know how sometimes a TV show, a song, or even a tweet can just explode and suddenly, everyone's talking about it? Like when the " . The internet couldn't stop gabbing about old times, deep friendships, and how quickly the time flies. Friends" gang got back together Or when Taylor Swift dropped "Folklore" out of the blue, and all of a sudden, we're all deep in feels, talking about escape and the tales we spin in our heads just to get by. And oh, how can we forget the whole "Don't Worry Darling" press tour drama? Talk about a rollercoaster. Or how about the buzz around Lewis Hamilton switching to Ferrari? It's like, for a moment, these stories become the center of our universe, pulling us into a vortex of opinions, emotions, and sometimes, heated debates. These slices of pop culture, including Elmo's heartfelt check-in, really highlight how much sway these moments have over our current discourse. They shine a light on stuff we usually don't talk about, or at least not in the public eye. For brands, these moments underscore the power of storytelling that resonates on a personal level, illustrating the importance of crafting messages that speak directly to the human experience It's fascinating, isn't it? How a simple question, a reunion, a song, or even the hint of scandal can open up floodgates of conversation about deeper, sometimes more complex issues. It's like, through these shared cultural experiences, we find a common ground to explore ideas and feelings that might have stayed buried under the hustle of everyday life. Pretty cool, if you ask me. The Empathy Factor Here’s a question for you: How can brands channel this same level of empathy and engagement without it coming off as insincere or opportunistic? When a tries to be funny, we often shush them off for trying too hard. B2B SaaS LinkedIn page It's a tightrope walk, indeed. The key lies in genuine intention. When Sesame Street followed up with mental health resources, it wasn't just a PR move; it was a responsible, empathetic response to a community's outcry. Imagine if all brands took a similar approach, using their platforms not just to sell but to support, educate, and uplift. It's about adding real value to the lives of the people in your community. Sounds normal yet revolutionary, doesn't it? Being More Than a Brand Ever noticed how some brands just get it? Like Nike, right? They're not just about sneakers and sports gear. They stand up for what's right, , sparking conversations about equality and grit. championing athletes no matter their background And then there's Ben & Jerry's. Sure, their ice cream is to die for, but have you seen how they dive headfirst into the big issues? Climate change, social justice—you name it, they're on it, pushing us all to think a bit harder about the world we're spooning that Cherry Garcia into. ( ) Cherry Garcia is not their best flavor, and I think that’s something we can all agree on These brands, they're playing a bigger game. They're not just logos or catchy jingles. They're out there, making a difference, being a shoulder to lean on, and heck, sometimes a megaphone for change. Consider the journey of a small, local coffee shop that used its platform to highlight community stories during the pandemic, offering a virtual space for shared experiences and support. Or think about a tech startup that provides free resources to educators, demonstrating a commitment to education beyond its product offering. These examples show that no matter your size, your brand can have a meaningful impact by focusing on what matters most—people. And I know what you’re thinking, "That's all cool for them, but what about smaller companies? We're just starting, or maybe we're a mid-sized company trying to build our community. How do we show we're more than just another brand?" First off, start with what you stand for. What's the heart and soul of your brand? Maybe you're all about sustainability, or perhaps community service gets you fired up. Use that. Let it shine through your content, your products, even your customer service. Small acts and consistent messaging can start big conversations. Second, listen and act. It's one thing to say you care, and another to show it. Engage with your community. Hear their stories, their struggles, and their triumphs. Then, see where you can lend a hand, offer a platform, or simply amplify their voices. It's about creating a space where empathy leads the way. Remember, being more than a brand isn't about the size of your marketing budget. You can start right where you are. The Challenge and Opportunity for Brands Some might wonder, 'Can brands truly afford to prioritize empathy in cutthroat markets?' Absolutely. It's not just a nice-to-have; it's a must-have for building lasting relationships. Skeptics may argue that the bottom line is king, but remember, consumers are increasingly choosing brands that stand for something more. Showing genuine empathy isn't just good ethics; it's smart business. Now, back to you. How can your brand or the brands you admire follow in these footsteps? How can you leverage your platform to not only drive sales but also drive positive change? It starts with listening—truly listening—to your community. From there, it’s about taking meaningful action, whether that’s through sharing resources, starting conversations, or showing up for your audience in ways that matter most. Elmo’s check-in was a small gesture with a big impact. It’s a call to action for all of us in the digital space to remember the power of empathy, the importance of community, and the potential we have to make a difference. In the end, it’s not just about what we want to say but about what our audience needs to hear. So, how will your brand respond? Let’s make the internet a little less sad, together.

Elmo Checks In, Everything Is Not Okay: A Lesson in Empathy for Brands

In the notable Forbes article “ ” by John Koetsier, John states, “The entire story of non-fungible tokens to date has been a kind of Keystone Cops combination of Amazing New Possibility and Dumbest Thing Ever. Opposites attract, apparently…. Why the craze? Because maybe, just maybe, the experience is more than the thing.” NFTs Are Experiences, Not Things Ouch. I mean, maybe. Though, many technologists, including myself, saw much more than merely an experience from NFTs, Johnny boy. Do you guys remember back in 2014, the first NFT minting in New York City? If you were there, you'd remember Anil Dash and Kevin Mcoy hanging their heads low and shifting their feet to the exit after an audience laughed them off the stage for their presentation on immortalizing art and coding metadata as proof of ownership on the blockchain. It took several years for people to jump on this volatile bandwagon of revolutionary ideas and use cases in Web 3, which, frankly, people absolutely love or completely despise . (Just like the internet back in 1995) Photo Source: Newsweek article, 1995. As an early investor in DeFi and retaining a passion for the future of blockchain and IPFS technologies, I feel much of the general population's disdain for introductory technologies arrives in two forms; Lack of understanding/ education or; relevant and easy-to-use solutions in everyday life. Few understood Bitcoin or blockchain in 2014. Further, no one could envision blockchain spawning non-fungible tokens; and how NFTs would take over the financial world, news and media, and global entertainment industries. Even in John's more recent, well-researched Forbes article, you can see that not many can fathom the real-world usefulness of NFT technology. That is until we realize our homes are non-fungible assets and digital record-keeping technology isn't going away…. Caught Crying About The Crypto Crash? Grow up! Obtain Real Acquisitions! Since exchanges cut off trades, crypto crashed, the NFT Bubble burst, and stablecoin(s) who shall remain nameless; cough-cough, one was LUNA, totally RETK everyone- many crypto bro-bros are, in fact, applying at McDonald's. Photo Source: Reddit Still, according to CNBC, " ." 2022 was said to be the year to build inflation-resistant portfolios. TIGER 21 members are convinced inflation will be permanent, not transitory. 65% expect inflation to accelerate in the next year. They advise allocating money to real estate ) and cryptocurrencies. Here's how the ultra-wealthy are investing in 2022 (industrial properties, apartment buildings Source Since half of my crypto career has been in stablecoins and NFTs, I've done my fair share of speeches on volatility and cautious investing, especially in the realm of digital technology, as it's still in its infancy. , in my opinion, is correct, financial technology is the future (and now and the last eight years of my life), but with the market, it would be nice to have some real estate as the world falls apart. CNBC If you were anything like me, the Bitcoin Family, (shout out to Didi and ladies!) and others, many of us left our traditional family homes in the spirit of Satoshi's dream. We fled or sold our homes to build technology or share a decentralized life and education with the planet. So, now that #DeFi is once again dominant, TIGER 21 (aka; already rich people) tell me to buy a house... now? in this market? With my $BTC way undervalued? Well, it could be wise- but is it affordable? If you’re anything like me, you’re wondering, why hasn't anyone devised a tokenomics model to stabilize digital assets using real estate? It would be a solution to recommendation by diversifying investments in your portfolio within one digital asset. TIGER 21 and CNBC's NFTs Are Mostly Garbage & You Know It Amid the NFT trash being uselessly minted by money-hungry crowds merely riding the next trendy wave, I've been globally sharing the damage we are doing to the world and how we are procuring a poor illustration of this technology. During a "Crypto Karen" trip - On my way to lecture everyone, I accidentally fell upon an exciting solution while speaking at conferences in Florida, USA, at Bitcoin Miami week. Among being not impressed by the gobs of newbs in the flooding in fintech, I left impressed by one thing- (stop hashtagging me #CryptoKaren-why you do that? Rude) Why was I impressed? I've been preaching on minting real-world assets into the metaverse and giving NFTs utility. I've educated on the history and the real-world use cases, crying, asking people to stop minting stupid stuff, making fintech geeks look dumb, and please stop killing the planet---- You're welcome, @HackerNoon, Co-founder, Jay , I'm with you & I support your facebook posts even though I'm in FB jail atm. lol. <3 Then I discovered the and I got a little less sad. Cuz, dude, they seemed unusally interesting and beneficial during this economic nightmare we've all waken up to. reNFT What is a reNFT? The creators of this technology, noted that a reNFT is the digital analog of traditional real estate. reNFTs represent equity ownership in a real-world, income-producing asset. Balcony DAO, reNFTs store all property estate-related data on the blockchain, streamlining due diligence and business transaction processes. Government organizations will migrate official record keeping onto private and public blockchains to recognize digital deeds and titles as proof of ownership. Migration of data on chain is helpful; however, not necessary for fractionalized real estate. What is Balcony DAO? Balcony DAO unites real estate and financial technology to create web 3.0 enhanced assets. As a prospective Web 3.0 investment bank, Balcony DAO delivers digital financing resolutions for real-world assets. Balcony DAO is constructing a marketplace that aims to be the Opensea for trading real-world assets. Balcony DAOs Mission Statement is They aim to use blockchain technology and real estate to provide your family with security and endless investment opportunities by creating a new NFT protocol that fractionalizes real-world assets. to democratize access to wealth by permitting significant real estate investments to every household. How is Balcony DAO Different? Balcony aims to democratize access to investment-level income-producing NFT securities directly tied to real-world equity in real estate. Balcony DAO claims they are initial movers in the real estate tokenization space by creating an entirely new NFT protocol, the reNFT, which is an NFT that efficiently houses large amounts of metadata associated with real estate properties. Balcony feels this metadata needs to be minted on the blockchain to authenticate physical assets while bringing provenance to their investments. “Provenance”, pffff. Yes, provenance can be a snobby word; some say the rich use it to get richer. For a lot of the world, the reality is: it's the middle of a pandemic, inflation is over 9% (admitted, not accurate, IMO), we are in an economic crisis, a global famine is approaching, wars are taking place, and unemployment is on the rise. Hence, you "provenance peeps," listen up! Fewer people have money for real estate, crypto, NFTs, gas, and everyday needs. Sadly, even the most giant whales have some shrimpy wallets in this dip atm. Interestingly enough, Balcony DAO founders have been on the front line of the housing market since their youth. These eager and tech-savvy real estate professionals saw a need for the everyday consumer to have accessibility to corporate investment properties, especially during what numerous individuals reference as an impending recession. Massive real estate success has historically peaked during times of economic turmoil. Knowing this, Balcony DAO derived a technical solution that allows fractionalized investing in prominent properties for all of us… because you know we all deserve to throw around fancy investment words. Appreciations, Balcony DAO! Fractionalization Foremen , Co-Founder of Balcony DAO, claims their project is "the first group to allow individual fractionalized corporation-level real estate investments using NFTs instead of dealing with complicated partners, not-so-transparent lawyers, possibly shady real estate agents, crooked businessmen, and untraceable inflated fiat. In addition to defeating all the 'real estate boogiemen' out there, our professional pipeline and resumes are extensive with transformative, unique, attractive deals and people." Dan Silverman The Balconanites (community ambassadors) believe Balcony DAO can change the primitive practice of real estate dealings, which it's not only virtuous to democratize real estate ownership allowing access to individuals who lack the opportunity; it'll improve and unite communities. REAL ESTATE Makes REAL Money, But It’s REALLLLY Old... "Real estate is the world's biggest store of wealth," according to . "It's estimated the global value of real estate reached $326.5 trillion USD Q4 in 2020, making real estate more valuable than all global equities and debt securities combined and almost four times the size of global GDP. By comparison, the value of all gold ever mined is USD12.1 trillion USD, just 4% of the value of the global property. It's no wonder that real estate has become a significant investment asset class for investors around the world." Chambers.com and claim that current real estate commerce is archaic; Balcony DAO believes web 3.0 and blockchain integrations can evolve the most significant and necessary industries worldwide. Image: All property data and custody exchanges are recorded on an unalterable ledger, bringing more transparency and liquidity to this acquisition class, and eliminating countless fears the industry retains. Alexander McGee Michael Reichel adds that the Balcony DAO co-founders are a unique subset of people with a deep understanding and impressive background in startups, real estate, and financial technology, so they jumped on a unique opportunity to be the initial entrepreneurs in the space. John Belitsky To Conclude The volatility of the market cycles and how rapidly the world is evolving has worried many of us. As a fellow co-founder of blockchain technology solutions, It’s been refreshing to see projects arising offering everyday consumers something we all have longed for. These are the types of projects we need to invest time and resources into, as they will bring mass adoption to all our blockchain solutions. - Fin- Thank you to my new friends at Balcony DAO for being so rad- inviting me to your fantastic gatherings; we both fill the room with highly influential entities and a lot of brillant and magical ideas grew from some of your events in FL. <3 I’ve invited Balcony Dao to the ihollywood film fest and NFT awards in September, praying we see you ALL there. The Balcony boys will also be at the Aug 2. Reach out to me for a personal invitation. Bisnow conference (Since I can't be there, pics or it didn't count! lol!) Author Alyze Sam is a refreshing blockchain strategist, a novel educator, multi-award-winning author, serial co-founder, and a vehemently driven advocate. Don Tapscott published Sam's eight years of stablecoin research at The Blockchain Research Institute in 2021. The Bad Crypto Podcast developed a Blockchain Hero NFT inspired by her work: Mz. Stability. Sam has been ranked top 50 in Blockchain & Top 5 Woman in NFTs (Hacker Noon, 2022) and released The ABCs of NFTs with the world's youngest author, her 4-year-old son! Sam’s five published books have been awarded best sellers and best releases in over 14 science, business, education, and technical categories. Order Sam's latest #1 new release with Alex Tapscott on Amazon now: Digital Asset Revolution and her #1 in Computer Science & Financial Education: Stablecoin Evolution -LinkedIn Contact me & my besties where we write white papers, grants and launch complicated tech solutions in an ethically sustainable manner: | www.techandauthors.com www.masscrypto.io Balcony DAO Contact & Community Website . . The deed grants access to a waitlist for Balcony’s first reNFT offering, a 30% discount off Balcony Assets Club, and access to online & IRL pre-launch events. Mint a Balcony Deed . Twitter Discord . Telegram To John! Happy Birthday to Balcony DAO's Co-Founder, John! May you bring more love and kindness to the world for many more years to come! <3, Sam

NFTs are More Than Street Cred, DAMNIT! My Frick'n HOUSE is On-Chain!

¡Los NFT son más que Street Cred, MALDICIÓN! ¡Mi Frick'n HOUSE está en cadena!

Les NFT sont plus que Street Cred, DAMNIT ! Ma Frick'n HOUSE est en chaîne !

NFTs स्ट्रीट क्रेडिट से अधिक हैं, DAMNIT! My Frick'n HOUSE ऑन-चेन है!

NFTはストリートの信条以上のものです、くそー！私のFrick'n HOUSEはオンチェーンです！

NFTs são mais do que crédito nas ruas, DAMNIT! Minha Frick'n HOUSE é On-Chain!

NFT còn hơn cả Street Cred, DAMNIT! Frick'n HOUSE của tôi đang hoạt động!

NFT 不仅仅是街头信用，该死！我的 Frick'n HOUSE 是上链的！

HackerNoon Reporter: Please tell us briefly about your  background. My name is Alexander Jivov. I’m a proud Canadian who was born and raised in Toronto, and I’m a somewhat s . I originally was dead set on becoming a journalist, and my career started out as first an intern and then a city reporter at the National Post, just down the street from where I live now. erial experimenter However, I quickly decided that I wanted to be on the forefront of the burgeoning tech startup scene here in the city, and quickly moved into sales at a number of different companies, both large and small. Anything I could try that was new and novel was right up my alley, including getting my own cookbook published at one point! What's your startup called? And in a sentence or two, what does it do? We are Hopeful - the first ‘Social Fundtech,’ that uses AI to turn social media into an easy and smart fundraising tool for nonprofits and charities worldwide. Using our proprietary Storytelling AI dashboard, Hopeful empowers nonprofit Executive Directors, Fundraisers, and Marketing teams to connect with younger donors, who are (i.e. email, events, and direct mail). more inspired to give by what they see on social media rather than traditional marketing tactics What is the origin story? Hopeful came about from my personal experiences working with nonprofits as a pro bono marketing, web dev, and sales consultant. It constantly shocked me how our world’s most impactful organizations woefully lacked even basic technology to be effective on social media, while so many technologies already existed in the for-profit space. My Cofounder Ahsan and I essentially worked backwards from a product/market fit perspective to get to what Hopeful is today - in a sector that has so many possibilities for software innovation, the only way to go about finding what was needed most was to go to as many nonprofit leaders as possible and essentially create a prioritized list of what they needed. By far, social media intelligence built for fundraising was the #1 most asked for product. What do you love about your team, and why are you the ones to solve this problem? We’re incredibly proud to have been a fully distributed and diverse (40% women!) team from Day 1 of our founding. With team members across Canada, the United States, India, and the UK, we have managed to create a presence in 3 countries in only 10 months, and have impacted over 200 nonprofit organizations in that same time frame. For Hopeful, we hire for a desire to have an impact first, and skills second. Every team member has been or currently is involved with a nonprofit, and we make sure that everyone is deeply entrenched within the nonprofit ecosystem. That, plus our awesome experience when it comes to AI and social media marketing, makes us the absolute best team to make Hopeful even more of a success. If you weren’t building your startup, what would you be doing? That’s a tough question. I knew I wanted to build a startup in the impact space ever since high school, but given that my resumé is such a wild ride of different experiences, I really don’t know! At the moment, how do you measure success? What are your core metrics? As we operate both as a technology company and as a digital agency for our nonprofit clients, we work very collaboratively with each of the organizations we work with to make sure their own unique goals are included in our engagements. That being said, we have our own key KPIs - likes, followers, engagement, impressions for the social side, and dollars raised from our Fundraiser tool. With every nonprofit being different in so many different ways, we measure success against their goals to make sure we keep in line with their expectations. What’s most exciting about your traction to date? Since open launch in August of 2020, we’ve grown to work with over 200 nonprofit organizations throughout Canada, the US, and the UK. We’ve had the absolute pleasure of becoming the exclusive social media technology provider to some of the most prominent provincial and state nonprofit associations around. We’ve also been very lucky to have a very loyal customer base, with since launch! a whopping 98% retention What technologies are you currently most excited about, and most worried about? And why? We’re very excited for what we see to be the increasing focus on AI as it applies to social media, and the AI engines, such as GPT-3, that make it incredibly simple to create complex analytics applications that are applicable to all major social media platforms and beyond. Not only will it increase our agility tremendously when it comes to developing our AI offerings, but it will ideally accelerate our core mission - to show that the nonprofit sector is and should be a sector worthy of the same level of innovation as the for-profit sector. What advice would you give to the 21-year-old version of yourself? Talk less, and listen more. It’ll make your life a lot easier! What is something surprising you've learned this year that your contemporaries would benefit from knowing? While we knew the younger generation of donors was one that was giving more, giving more often and being more active in their respective communities, we truly had no idea how strong a sense of social responsibility has evolved within that generation. Hopeful Inc in Startups of the Year hosted by HackerNoon. was nominated as one of the best startups in Toronto

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