Transcript
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Truth and Transcendence brought to you by being Space with Catherine Llewellyn.
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Truth and Transcendence, episode 158, with special guest Eric McHugh.
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Now, eric is the president and CEO of ShopX, and the web address for that is shopxco S-H-O-P-X dot C-O, which apparently is an e-commerce thing which I do not understand at all.
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So, eric, will you please kick off by telling us what is ShopX?
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Sure Well, catherine, it's great to be here.
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I'm really excited for a conversation.
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I can tell it's going to go really well.
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Shopx is a way for Web2 brands to enter the Web3 space by tokenizing their products.
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So to understand what Web3 is and how ShopX is the bridge, to understand what Web3 is and how ShopX is the bridge, I think it's important to go back to what Web1 is versus Web2 versus Web3.
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So the simplest way to break it down is you can think of Web1 as read-only, so you can go online, you can read stuff, which is fantastic because that helps spread information, which helps us as a collective get smarter, get better and just be more kind to each other.
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Web, web 2 I would say the easiest way to frame that is as social media.
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So think of instagram, think of facebook, think of youtube.
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So on a web 2, you can read content.
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You can write content, but you don't own the content.
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So, for example, I can write content but you don't own the content.
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So, for example, I can write an Instagram post.
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You can read my post, you can interact with that post, you can do what you will with that post, but Instagram owns the post, so they can sell our data for nefarious purposes.
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If we say something that doesn't fly right on our podcast, they can come back and cancel us for pretty much whatever reason they choose.
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They don't have to tell.
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So Instagram's the owner in that relationship.
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In Web3, you can read, you can write and you can own content.
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So I can write, like I can read content, just like in Web2.
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I can write content in the form of a cryptocurrency or NFT, but the only difference is I own the content.
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So so, for example, if I were to write a piece of content in the form of nft, and nft stands for nft or rwa stands for non-fundable token or tokenized real world asset, so just think of that like a piece of land in the real world.
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So if you have a piece of land in the real world it's's a one of one piece of land you can do what you will with it.
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So you can build a school, you can build a garden, you can do nothing.
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But once the RWA or NFT is a piece of land in digital cyberspace, so you can let it sit there, you can create an image, you can add benefits.
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You get to decide what you do with it.
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So if I'm an e-commerce brand, I give you an RWA or NFT.
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There's now a connection between me and you and I can send value your way, you can send value my way.
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And the cool thing is, once you own that RWA or NFT, it's your NFT or RWA, so, even though I created it, I can't take it away from you.
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Amazon or any government they can't come and take away from you Instagram, facebook, they can't come and take away from you.
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So it's your art, it's your property, so you got to do what you will with it.
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Wow, well, that's fascinating.
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I hadn't heard that web one, web two, web three definition, and I had heard people talking about the fact that on Facebook or wherever, you put content up and then you can't control what happens to it.
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So I had heard about that and not really been bothered about it, because you know great, do what you want with it, you know, but I'm not doing kind of e-commerce on it.
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And then the Web3 thing sounds really great and we talked before about wanting to talk today about freedom, didn't we?
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And from what you've just said, I can really see how that theme of freedom plays into that, doesn't it?
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Oh, 100%.
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So Web3 stems from Bitcoin, so Bitcoin is the core technology that powers.
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It's kind of like the king of the space, where it's first mover adds most value.
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Bitcoin is freeing people from oppressive governments, oppressive currencies, by fixing the incentive system, for example.
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I think this helps free up people from their mindset of scarcity and puts them into the mindset of abundance, and I think we both know people are in the mindset of abundance.
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They can just add more value to people, which makes them because people are happy assuming other people.
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And you can do that if you're in a scarce mindset but you're in an abundant mindset, you can.
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So what Bitcoin does?
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It incentivizes value creation versus value extraction.
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So I view money as a neutral thing.
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I view it as energy.
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If you want to make money in a good way, that's great for you, but if you want to make money in a bad way, karma comes back to bite you 24 seven.
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So in the current system, if I want to become rich without doing anything, the best way for me to do that would be to place myself right next to the money printer and extract as much value from the money printer as I possibly can.
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And what does this do?
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That means I'm extracting value from everyone else who owns the money, putting them in the mindset of scarcity.
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And then what do I do?
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Once I get the money?
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I give it to my friends in the form of like governing contracts, positions, all that good stuff.
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Now a group of people are in power who shouldn't be in power.
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Now there's three corrupt people in power.
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What do they do?
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They defeat, they beat the non-corrupt people because they have access to unlimited money.
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So, like, think of our government system.
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Like, if three candidates are backed by the lobbyist, they usually win just because they can pile money into that, whereas in Bitcoin, it incentivizes value creation versus value extraction.
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So what I mean by that is let's say, you had some Bitcoin or some cryptocurrency or NFT, it's yours.
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So that means you own it.
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No one can take it away from you.
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They can't inflate away from you.
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It's yours.
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So if I want your Bitcoin, the only way for me to get your Bitcoin is for me to produce something of value for you, and then you voluntarily send me your Bitcoin.
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So if I want to become as rich as possible, the most logical way for me to do this is to produce as much value for the world as possible.
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So now my incentive is to create value instead of extract value, and to go further into that.
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If I'm trying to produce as much value and make as much money as possible, I thank God, the creator of the universe.
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I think they give us each individual gifts, Like I'm the number one, me, in the world.
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If you try to be me, you can't beat me out of being me.
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I'm sorry, but at the same time, if I try to be you, I can't beat you out of being you.
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So if I'm trying to produce as much value in the world, the only way for me to produce as much value in the world as I possibly can is to follow my intellectual curiosity, follow my purpose, because that's where I'm naturally number one and that's how I'm going to produce the value.
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And then Bitcoin incentivizes a system at scale which I think is just starting to get adopted in our generation.
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But think of this, not like in our generation, think of like seven generations down the line.
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It's like if everyone's incentivized to produce value and they're following their passion and dreams, they're trying different things, they're helping people, that elevates people into the state of abundance.
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And then, on top of that, it's like like, yeah, plus like half your money's not getting stolen, dumped into meaningless wars.
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It's going to help people.
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It just creates a better system and then ai helps further leverage that.
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Like, for example, a kid in I'm filipino.
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I could have been born in the philippines, 50 years in the slums.
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That's just.
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That would just be my life, which is kind of unfortunate, but it is what it is.
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But now, with cryptocurrency and ai, I can have a passion.
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I could have that stream because you know like if you're doing something, you're passionate about your flow.
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You get like that download and you're just like this is what I have to try, and then you try it.
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I could get that.
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Let's say hypothetically it's e-commerce.
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I'm like, okay, well, it's e-commerce.
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I can use AI to build a website, write the email copy.
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Help me manifest my thought into reality quicker, try it out quicker, learn quicker, and then cryptocurrency could add me to a global ecosystem with money that doesn't flay away.
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And if that's meant to serve the collective, I've created something quicker, with less barriers to entry.
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And if it's not meant to serve the collective, obviously we know it's a learning experience for me and then I can move on to the next thing.
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Yeah, yeah, Thank you Fantastic.
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I'm just going to highlight one thing you said there which you said very quickly, but I think it's a really important point, where you said when you're really connected to your passion and your purpose, you get these kind of downloads of what you should do, what you should do next.
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And I think that's a really important point, and I think anyone who's ever been really connected with their passion and purpose will probably have experienced that.
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And by downloads for anyone who doesn't know what I mean by that.
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What I mean is where ideas just seem to come into your head of a project or an idea or something to try which doesn't necessarily seem to have an obvious logical path of where that thought came from.
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It's almost like it comes from nowhere.
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And some people ask the question of like it comes from nowhere, and some people ask the question of God, you've got so much inspiration and insight, when does it come from?
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Why is it that you get that inspiration and insight?
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And very often the answer is well, not because I'm any different from anybody else.
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It's just I happen to be very connected to my passion and my purpose and what that does.
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It kind of opens a window in our head that this information comes through, and whether it's coming from our subconscious or from God or from the universe or from Lemuria or wherever it is, almost doesn't matter, and this is what we mean by download.
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So thank you for bearing with me.
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I wanted to highlight that because some people are not familiar with that term kind of dynamic, and some people experience it and they think they've gone mad.
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They notice this stuff's come into their head and they go what on earth is this?
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How do I trust it?
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So thank you for saying that, and I also appreciate, in the way that you're talking, how you're weaving together these sort of ideas of freedom and high purpose and passion with something as pragmatic as Bitcoin and blockchain technology, and in you you seem to be sort of embodying the two at the same time, which I find is very interesting.
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Could you share a little bit more about that?
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Yeah, no, of course, and honestly thank you for that explanation, liddell, because I've never actually heard an explanation, lidd, an explanation.
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I just kind of knew what it is.
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But I think it's important to highlight what that is because, yes, like when you're connected to soros, when you're connected to your purpose, stuff just kind of comes to you like I don't know why this came to you, but then it just starts working.
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So that's the importance of that and uh, and I think I think we would agree on this point but everything is connected, like one of the rules of the universe is called an effect, but in terms of how Bitcoin, spirituality, mental health, mental growth, they all tie together, I think everyone has an inner purpose and I think everyone has an outer purpose, and this came from Eckhart Tolle.
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So if you're listening to this and the spirituality interests you, I highly recommend you check out Eckhart Tolle.
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A New Earth was one of the most beneficial books I've ever read, so it was incredibly helpful.
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Great author um seems like a great guy.
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Check that out, but he states that and I fully agree with him when he states that everyone has an inner purpose and everyone has an outer purpose.
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So I think of everything in terms of energy, frequency and vibration, and you can actually chart it out.
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So when you're saying I'm it out, so when you're saying I'm feeling an emotion, what you're saying is I'm vibrating at a certain frequency and just like when you turn to a specific radio station, when you turn to that station, you get that.
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You get like you turn to that rate of frequency, you get that station.
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So when you're saying you're shameful, when you're saying you're angry, when you're saying you're loving, you're saying you're happy.
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When you're saying you're joyful, you're saying I'm, I'm by brand x frequency and you attract the same frequency you're on.
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So that's why loving people attract loving people.
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That's why angry people attract angry people, which is why it's so important to be kind and to help people in the world, because, a it's it feels much better, but b it also benefits you too.
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And it's one of the it's one of my main networking.
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It's one of the reasons I'm really good at networking is because when I go to an event, I'm I'm not like meeting people, I'm not how, about how you can extract from you like in like a weird way.
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I'm just like okay, how can I help you?
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And then, because I have that mindset.
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They're like, okay, well, how could I help you?
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And then all of a sudden we're in a help off and that's how real business is formed.
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But anyways, um, everyone has an.
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Everyone has an inner purpose.
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Everyone has an inner purpose.
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Everyone has an outer purpose.
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Everyone's inner purpose is to raise your own level of consciousness, which is to rise up by vibrational scale between zero and a thousand.
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And this is the reason I love going on podcasts so much, because what happens when I raise my own consciousness level?
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It raises those around me and once the people around me get raised, it raises those around them, create a nice positivity upward spiral.
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So if one person leaves this podcast slightly better off than they were entering this podcast, I would count that as a win for both of us.
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So that's the purpose of that.
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And the outer purpose is how do you manifest your specific gifts to raise your inner purpose?
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So this is where it's really important to follow your natural gifts.
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Your curiosity is just do what you feel like, and for me, this resulted in two specific companies.
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The first is shop x, which is a web3 e-commerce platform, and the second is dataing, which is the first ever ai powered matchmaking service and having, and it's important to note that intention is very important when you're dealing with people, when you're dealing with anyone, because if you have good intention, people can pick up on that.
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So having spirituality woven, integrated into the core of both companies, it makes both companies more successful Because, for example, dota Inc.
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It's a dating app that helps spread love by matching people that they could potentially connect with, and we're reliant on our users.
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So if have bad intention, the users won't like that, but if we have good intention, the user like the app.
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And shop x is an ecosystem based company, like.
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We have over 9 000 license holders.
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We have multiple brands using us, so it's an ecosystem thing and our intention is to add value to the brand, to add value to the customer.
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We're not trying to rip them off, we're just trying to help them and they can pick up on that, which is why we have so much support for the product, even though not everything obviously like in a business thought, not everything's going well hundreds of times.
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But because of our intention, the community members have stuck around and we're really grateful for them yeah, yeah, lovely and um, coming back to this idea of freedom, because when we spoke before you were saying that was really important to you, that whole kind of sense of freedom, and would you just share with us a little bit about how did it come to be that you really connected with that, what happened?
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Can you remember the first time that you kind of realized that freedom was something that was really very important to you?
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Yeah.
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So when I was a kid, I was standing in front of the Grand Canyon and I never really told.
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I never liked being told what to do, so I didn't do that.
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I mean, I did fine in school, but I didn't really fly well with the corporate world.
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I didn't fly with the structure of school and the corporate world.
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So I remember one time I was just sitting at my desk, just kind of like it felt like more like slavery.
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I'm just like, oh, this is not, this is not good for me, I wasn't in a good place.
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So then I decided to quit that.
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And that's where I started the entrepreneurship journey, where freedom is extremely important, because if you're free, a it comes with responsibility.
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Like you're free, you can do what you want, yes, but you also have to make your own bread.
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So that's where freedom came important.
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And that's what led me to my authenticity thing, because before I'm just like I don't know what to do.
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But once I said Boundary Manager, I'm like, okay, well, the only way for me to be successful is to be authentic, to follow my natural purpose, which is a source of freedom.
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And on top of that, this helped and this was baked into the why of why ShopX was being built.
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For me, it's because my overall goal in life was to live a nice, peaceful life.
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I felt that to be harder to do if the money system itself was corrupt or oppressive, as I felt.
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Because I'm like.
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It felt oppressive to me because think about, like we're spending 50 hours, like 40 to 50 hours a week.
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You're using your salary, um, you're paying half of it in taxes.
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Those taxes are going to more, just funding some direct politician.
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You're living in scarcity because you don't have the money to live in abundance, and then you're getting taxed and everything.
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So I felt that was more an oppressive system, which led me to gold and silver as a potential answer, and that led me to bitcoin as the next evolution to that.
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So to me, bitcoin is, um, bitcoin is freedom from an oppressive currency that's designed to keep us in the lower vibration.
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So I think the currency system is designed to keep us in scarcity so we're easier to control.
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Or I think Bitcoin represents a way for us to save our value, because, in reality, money is not the most important thing, but money is just a representation of your time and energy.
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And if I'm putting my time and energy to make a hundred bucks and then someone can come in and take half of that for no real reason, and then that's like stealing, like half a person's energy, which I feel is wrong.
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So I think Bitcoin helps represent a break from the current monetary system and helps us enter the state of abundance where ShopX helps break the freedom from big tech.
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Like, for example, what shop x, long term, it's going to do is we're going to tokenize the world's products, so creating a global inventory of tokenized products.
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So, for example, on your let's say, on your website, if you wanted to sell nike product, you want to sell adidas product, you want to sell rebar product, you can sell all those products on your website, creating a much more efficient flow of, because e-commerce products are usually pretty illiquid, but if they're on a global database, they become more liquid.
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So I can go onto your site from the podcast, I can see a nike product.
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If that's something you like, I can make that purchase.
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You get a commission, I get the product.
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Nike gets a sale.
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Everyone's happy.
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So it creates a sharing economy of e-commerce products.
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Which what does this do?
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This doesn't, then, freeze us from big tech, so, like it frees us from, like, the 40 to 70 percent.
00:18:17.914 --> 00:18:19.800
Amazon tech e-commerce brands pay.
00:18:19.800 --> 00:18:27.342
It frees us from, like, the millions of dollars of ad spend that gets dumped into google and facebook, so it helps with that and data ink.
00:18:27.342 --> 00:18:35.615
The logic behind that is, I think I think human relationships are extremely important for overall human happiness.
00:18:36.356 --> 00:18:41.941
I think social media and dating apps have pushed that needle in the wrong direction.
00:18:41.941 --> 00:18:55.476
So we're trying to fix and we're trying to help that by spreading love, and the way we do this is we auto generate dating profiles for users based on your digital footprint and then create matches based on other people's digital footprint.
00:18:55.476 --> 00:18:56.459
So like it could pick up.
00:18:56.459 --> 00:18:58.836
Like, let's say, we're up, hypothetically, both on the app.
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It could be like okay, well, these people both seem spiritual, based on their likes, based on their interests, let's match because of that and what this does, it puts us in the position to succeed.
00:19:08.653 --> 00:19:12.739
So like we can meet in person because we have this stuff, we have X Y, z in common.
00:19:12.739 --> 00:19:14.782
It matches because of those things.
00:19:15.443 --> 00:19:21.050
We meet in person, we're more likely to click it off or hit it off, fair enough.
00:19:21.050 --> 00:19:24.441
And you mentioned the thing about oppressive systems.
00:19:24.441 --> 00:19:26.513
It sounds like so.
00:19:26.513 --> 00:19:35.483
You talk about the financial system, which you find oppressive, but it sounds like you found school a bit oppressive as well, was it a bit?
00:19:35.483 --> 00:19:38.394
And you said you didn't get on with the sort of corporate environments.
00:19:38.394 --> 00:19:43.554
Was that because you found those environments not conducive to your own sense of freedom?
00:19:44.819 --> 00:19:49.417
Well, yeah, no, because I mean to me both those are kind of like not to compare it to Prisonerdale just because obviously Prisonerdale it's much worse, but it's the same concept.
00:19:49.417 --> 00:19:52.709
To me, both of those are kind of like not to compare it to Prisoner's Tale just because obviously Prisoner's Tale it's much worse, but it's the same concept.
00:19:52.709 --> 00:19:59.398
To me it's like do I really want to be stuck in a building eight hours learning stuff I don't want to do Because there's an opportunity cost for that too?
00:19:59.398 --> 00:20:06.459
It's like I'm learning stuff I don't want to do, then I'm not learning what I want to do, which takes away from the world.
00:20:06.960 --> 00:20:09.181
And, in terms of the corporate structure, the same thing applied.
00:20:09.181 --> 00:20:13.304
It's like it's not something I'm passionate about, it's just something I'm trying to do to make ends meet.
00:20:13.304 --> 00:20:20.657
The system itself was kind of impressive in the sense it was a consultant firm where we would bill out clients going through the bankruptcy process.
00:20:20.657 --> 00:20:26.960
The problem with billing up the clients going through the bankruptcy process is their corporation was no money, so they're going through bankruptcy.
00:20:26.960 --> 00:20:41.892
So we were taking money from a pool that was meant to go to the creditors, which I I didn't feel very comfortable with yeah and like yeah, it's really just like because you know, like in the corporate consultant structure it's very hierarchical, so you have to do exactly what you're told.
00:20:41.932 --> 00:20:48.314
When you're told which was like okay, well, maybe there's a better way we can do this, and they're like no, you just have to do this, I'm like why would we do it this way?
00:20:48.314 --> 00:20:50.979
This way is clearly better, it's faster, it's better for everyone.
00:20:50.979 --> 00:20:55.444
And yeah, then sometimes just didn't really align yeah, so so you.
00:20:55.691 --> 00:21:13.615
So you're, you you're creating structures, um, that operate in a different way and that facilitate greater freedom for the users and and greater connection as well, because you've spoken about connection quite a bit and about supporting people being kind to each other.
00:21:13.615 --> 00:21:36.801
Now, that's interesting because that's the first time I've heard someone speak about something like Bitcoin or the Web3 environment as supporting people being kind to each other, and I really like that sort of combination of that human quality again, sort of combination of that human quality again with the kind of practical property you seem to have this sort of in the way you talk.
00:21:36.801 --> 00:21:46.710
It sounds like to you the connection between all these things is completely obvious, as if it's like, of course, everybody realizes it's really, really obvious.
00:21:46.710 --> 00:21:51.071
Where I think, for a lot of people it's not obvious, you know, to a lot of people it's.
00:21:51.071 --> 00:21:53.853
Am I going to follow my heart or my head?
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You know not.
00:21:55.273 --> 00:21:57.615
Can I follow my heart and follow my head?
00:21:59.116 --> 00:22:03.497
yeah, no, I never thought about that because I guess it's obvious to me, just because it just is what it is.
00:22:03.497 --> 00:22:06.345
But yeah, no, people like usually separate the heart and the head.
00:22:06.345 --> 00:22:17.979
But I think when your heart and your head are in alignment, that's when you can really manifest stuff, that's when you're most powerful state, that's when you're in flow and a lot of people's heart and head lead them in different directions yeah, I would say it's probably by design.
00:22:18.019 --> 00:22:25.009
But like, yeah, if you, if you really want to get stuff done, if you really make a positive impact in the world, you have to align your, both your heart and your head.
00:22:25.009 --> 00:22:30.726
And I think meditation is meditation, journaling, gratitude are both really good exercises to do that.
00:22:30.726 --> 00:22:37.862
Because, like, yeah, once, once you align your heart in your head, your heart chakra is aligned, your crown chakra is aligned, your thoughts become powerful.
00:22:37.862 --> 00:22:49.474
Because I think, um, thoughts, thoughts for your listeners, thoughts literally have weight, like they have weight behind them and for anything to manifest in the physical world, the thought is, it manifests as a thought first.
00:22:49.474 --> 00:22:56.209
So if your thoughts, if your heart and your head are aligned, those thoughts have more power and they manifest quicker in real life.
00:22:56.209 --> 00:22:59.944
So, to give you pragmatic examples, like it helps me get with brands.
00:23:05.974 --> 00:23:10.327
Like if I really want to get out of the brand, if I really want to talk to get a brand, if I really want to talk to an influencer, if I really want to talk to a specific business executive, I simply just think about it, and I know this may sound a bit woo, but I think about it.
00:23:10.327 --> 00:23:11.897
I go online and then I just figure out what to do on the fly.
00:23:11.897 --> 00:23:24.935
It could be reaching out via instagram, reaching out via email and I swear to god, like with that mindset, the response rates I get from people who should have never responded to me is extremely high.