October 13, 2021

JP Morgan Says Bitcoin is Worthless

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Mesh Lakhani

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Welcome to Talk Money Weekly - where I cut through the noise and curate the best money-related topics from the web.

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Markets & Business

TMW#: 26: Whistleblower Goes Toe to Toe with Facebook

Facebook was all over the news last week. Between the hearings around the content that Facebook profits off of, to the black out, there’s a lot to be covered.

In this episode, we discuss both the whistleblower and the shut down of Facebook’s messaging platforms, and how this potentially will affect the stock price.

Listen to the episode now.

Dog Ramps are Worth $35M?!

Guy buys a dog ramp business for $300K and turns it into a $35M business. Pretty incredible. How did he do it? By making things look nicer, moving e-commerce to Shopify, and using Facebook/Instagram ads.

I don’t know what they teach in business undergrad or in an MBA program, but this is what everyone should learn how to do. How to make a Shopify site, email list that converts, and how to use ads efficiently.

Reese Witherspoon Goes In on NFTs

One might say this is getting bubbly…I think it’s more...this is getting bigger than any of us expected and it’s only going to get bigger.

I still don’t own an NFT, but I’m fascinated by how many people are finding this exciting and interesting. Coinbase just announced it will be launching an NFT marketplace. It will be interesting to see who uses that over competitors like Opensea. It’s not guaranteed that they’ll be successful.

Reese just sold her production company for $900M, and now she’s getting into the crypto space. I’m excited to watch.

Prince Harry and Megan Markle Get into Impact Investing

Have you seen the Prince on Netflix? It’s the animated parody series on the Royal Family. They go really hard and I found it highly entertaining.

Just as I find this news highly entertaining, I’m sure it will be good. Or just like a lot of impact investing, it’s really more about headlines and “doing good work” than actual work being done. I hope they take this seriously. Or is this another “job” they’re taking on.

What is an NFT…Continued

It’s always evolving, and that’s a good thing. How do we explain this in way that people can resonate with...I buy a painting. I put it on my living room wall. I move houses, I take the painting with me and I put it on another wall. I get an office, I take the painting with me and put it above my desk.

There’s a virtual world that exists and that continues to get bigger. In that world, you can take your NFTs with you. Imagine you’re in a video game like GTA. You do missions and make money. You buy things, and you can showcase them. Except, now imagine you’re in another video game world, and you are buying and building new things there. What if you could take those items to your GTA world, and vice versa.

Did that make any sense? Or did I sound like a maniac. LOL.

Jamie Dimon Thinks Bitcoin is Dumb

Jamie Dimon, the CEO of JP Morgan, continues to call out Bitcoin and says how “worthless” it is. Google Jamie Dimon and first thing that comes up is “Jamie Dimon Bitcoin” And then it’s articles on how much he hates Bitcoin.

Who is this guy’s comms person? Either they have some alternative motive, OR he genuinely thinks it’s stupid. To his credit, Bitcoin may not work in the long run…but the point is that it’s a gateway to Web 3 and other crypto innovations. It was the first of its kind. To hate on Bitcoin is to hate on what is coming with new technology. You don’t want to be on that side of history.That's all the news from this past week!

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