103. Why You Need to Start Working in Web3 Before It’s Too Late - Transcripts

March 15, 2022

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Transcript

Welcome to flow with Armand Asadi Welcome, Welcome my beautiful people. We

have something really

critically and fundamentally important to talk about today and that is work,

the

work that you do and why you do

it.

And the opportunity that is in front of us right now.

It goes without

saying that it's

a pretty

concerning and scary time. It's a very uncertain time with everything that's going on in the world, in the macro sphere, the geopolitical sphere and the economic sphere,

how this

affects us all. Um well let's just say it's going to affect us all, it is affecting us

all.

And while it

might seem a little confusing

to take the time to want to talk about something like work,

it's actually

more important than ever to really take a moment to dive into this because I believe it applies to all of

us something

that I've been thinking about constantly and as you may know, I now work in the Web three space and I made that transition Approximately five months ago and I've been wanting to make that transition for over a year and I'm

very glad that I

did. And so in this episode, what we're going to talk about is

ultimately

The opportunity that is in front of us in Web three.

So if you are still

a skeptic

or

believe that this is just some trend and fad and that Web three as a whole is going to fade out and that crypto and Blockchain and N. F. T. S. And all this stuff are nothing more than a scam then I don't think this is going to

be very

useful for you. So I would take the time to probably get your mind wrapped around what exactly Web three is and why it is

the

opportunity and

the

future unequivocally first.

So I

assume that if you're listening to this, you

already believe

that and you already are

in sync with

that and so what we're going to do is starting from that ground zero level of, hey I get it. Arman Web three is here, it's not going anywhere. Technology is a one way road that is exponentially getting better, faster, smarter and more advanced on a daily

basis.

And Web two, I get it. That was, you know, the corporations that I operate and live my life on the apps that I use on a daily basis that are owned by conglomerates like facebook and netflix and Youtube and Google and all my favorite apps

and

I understand that Web three is a revolution and that within the world of Web three there are many shareholders and stakeholders and that

I

by using these tools and owning can, can

literally own these tools

that I can own a

piece of the internet,

I can own a

piece of this supercomputer

by just owning some

ethereum

and using some of the different

tools

and protocols and software that is built on top of this software layer.

I can

literally participate in this revolution and arguably I mean at this point I barely need to inject the word, arguably I can participate in this incredible

potentially

once in a lifetime wealth transfer

and that's the investor

angle of it.

But what interests me more than anything is the

work perspective and opportunity here

because you know, one of the secrets

to becoming an investor in something to owning an

asset

is to just buy it as quickly as possible.

If you have

conviction in something,

you can

sit and analyze and think and study, let's just say, let's use an example like let's just say you're really bullish on avalanche. Um, and that's a coin. A vax is a coin that you want to own in the crypto space,

the more

time that goes by where you sit and wait and think about it,

you're not going

to participate. And one of the things that we've talked about on my other podcast, the Alfalfa podcast

is that whatever amount

that you'd like to buy that you were considering buying,

just take 10

percent of that and buy it today.

Because what that 10

actually does

is it makes you an owner now you own that asset when you own that asset, it has the

opportunity to and naturally begins

to take up

time and space in your

mind. So the type of

research you do and the type of thinking you do, once you become an owner of that asset completely changes right.

Same thing applies

when you work in this space,

when you continue to go down that path of keeping the

job you already have and or doing the freelancing you've always done and trying to help these web two companies as you've always done,

you are watching from the outside

looking in,

when you begin to

Work in Web three,

everything

changes. It

becomes your life.

In fact, one of my motivations for wanting to do this was

I

was spending all this time

in crypto outside

of my

main day to day. The

companies I was building the things I was doing

and I wanted to get paid to spend time learning what a

beautiful thing, right to

get paid to

spend time learning.

And when most people envision

Or imagine working in Web three,

they imagine that they need to

go and

either join

a Web three

project or build

A Web three company

and I'm here to say a few

Things in this episode, # one

and I probably

should start with with the with the Y here, but let's just address this piece that's already in front of us.

Number one, you don't have

to

actually go

and start something from scratch or

join

one of these companies that is a project in the space, some

decentralized

entity or

anything like that. There is tremendous

opportunity

in taking the skills you already have and just serving a different

client and a different audience

and I'll get into that

here in a second. But one example is

let's just say

you're a designer, you're a graphic designer

but you're spending all your time

serving e commerce companies, companies, you know

that that our web to

type companies, software businesses and so on and so forth.

The

Amount of opportunity and money that is floating around in the Web three space

with people

and companies that are willing to pay in ethereum by the way,

in ether is absurd. So

I'm not promising you that you can earn either. But uh the opportunity is certainly there and if you ask for it, many companies and many individuals are willing to pay anything because they

have more than anything. And if you can get paid in

crypto, not only are you becoming an owner of possibly the greatest asset of this generation,

but

you know, you

get to participate

in the rewards

that come with that and

the

gains that

Come with that over the next 5-10 years. I mean

these things

are at this point Bitcoin and ethereum

are for sure winners. This is just

a matter of

time. We're going

to go through

huge amounts of volatility in the crypto space,

but also in the

macro

given what happens with

inflation, the

geopolitical situation, the war or

wars that end

up unfolding in the world, hopefully not, but if they do

Regardless of all of that on a 7-10 year

time horizon, even 5 to 10 year time horizon,

these are

almost certainly winners. I mean, I have been putting my money where my mouth

is

Most of my net worth at this point. I mean slowly and steadily, you've probably watched unfold on this podcast. It started with 1% and then it became 3% and then it became 10% of my

portfolio and now it's over

50%

of

my entire portfolio.

And I'm not telling

you to go all in and YOLO into crypto at all. You know, do your own research, think about this

stuff. Everybody

has a different risk

tolerance and everyone

is at a different level of, or a different stage. I should, I should say, of where they are at in their investment journey um, to oversimplify it. You know, in my mind, there's two stages, there's the wealth accumulation

stage and

the wealth preservation stage. When you hit a certain target and a goal that you set out for yourself in terms of your nest egg, your net worth or you hit a certain age in your life,

you should probably shift

into uh

risk.

You know, you don't want to be in risk on

assets. Uh,

you don't want to be in high

risk assets in

general that are going to be very volatile. You want to hold

assets that are not

volatile because you want to be able to

live off your portfolio

and ultimately be financially

free. So

you want to preserve your wealth

anyway, all that aside, let's take one full step back

and talk about this opportunity, here's what's going on,

especially in

regards to flow,

in regards

to this question

of what would I do if

money were no object, which as you know, should know is one of my favorite questions in the world.

There are a series of

concentric circles, right? You've seen all these charts before, or you may have even heard of this whole,

the japanese

concentric circles of

geeky guy. If you just google icky guy, you'll

see the chart and it's like, you know, let me actually pull it up in front of me right now so I can talk to you about this, but here we go, you know, you have all of these, I'm looking at a french version here, Here we go, Easy guy

is the

middle point between

doing

what you

love,

what the world

needs,

what you can be

paid for and what you are good at when you find that zone. That confluence of where these circles merge, what you find

right now

is that from the

what the world

needs perspective and

ultimately what this market

Is dictating the thing is that it's, it's all about Web three. The opportunity

Is in Web three,

the opportunity is

not starting

a e commerce business

right now, the way

it used to be

3 to 5 years

ago, 3 to 5 years

ago,

it was practically

a no brainer to start any commerce business. In

fact, that's why I did, that's why I did and a lot of people did. But you have to shift, you have to be fluid. You have to make sure that you don't get stuck into these situations where you're trapped. Look, if you have a successful business

Right now, that's not in Web three by all means like

keep it going. But do understand that this business

of yours has

a lifespan, building a business that lasts forever is very

hard. Is it

doable. Yeah, I believe that it is because if you reverse engineer that, not forever ever, but if you reverse

engineer the key components

of a healthy business

that can operate and last forever

and you actually

build a thriving,

profitable, profitable business. The number

one thing that most business owners forget

about profit

profit.

First, by the way,

incredible book and incredible episode with Mike

McCalla wits,

who I interviewed on this podcast. Um let me actually reference this because Mike McCalla Wicks Arman Asadi, because I think it's one of the most important

episodes

I've done. So

episode 90

five, very important episode actually, that was the one on marketing. I've interviewed him

Twice. 67

Is the profit. 1st episode. You've got to understand this concept of profit

first, this is where

most business owners go completely wrong.

But anyway, assuming that you've accomplished

that and that you continue to accomplish that

great fine.

By all means. Like I'm not telling you to step away from your profitable

business, but I am telling

you that there's a lifespan

of that business that you have to be aware of and if you were going

to make a shift

you could continue

doing what you

love, you could continue

um stepping into

skills and doubling

down on skills

that you are naturally good at

that the world also

needs. But where you can shift where you can be nimble,

where you can be fluid

is the

market that you're in And that you serve and that market, my friends is the Web three world

and it is very very very

broad.

Again let's just

say you're a

marketing agency but

you're a marketing agency serving Kickstarter, crowdfunding. Um You know businesses,

e commerce businesses, software businesses, have you considered serving

ah

web three companies,

Blockchain companies

uh N. F. T.

Collection launches that are happening

like what if your agency were to pivot to helping people

launch

incredible N. F. T. S successfully. You know one

Opportunity, I'll just give one

right now here's here's a

multimillion dollar opportunity

helping N. F. T.

Creators

audit their projects and audit their code to ensure that their launches are bug free to the best ability possible. That not only is the contract

sound and

clean but that the actual

marketing

and logistics

of that launch

our

sound and good and strong, utilizing the skills you already

have,

helping them get the word out,

helping them get their discord set up, helping

them get their twitters going, helping them build their community

and guiding them on that. Again,

I'm just using one example of like an

agency or a freelancer. The reality here is very,

very simple.

The longer we take to step

into Web three,

the more

behind we will be

left, the quicker you can step into

Web three and build a portfolio and build a name

and get these referrals, you will be set

for the next decade, minimum,

next

decade minimum.

It doesn't take and let's just say you're

really young and you haven't even started really doing this yet

being an

early adopter, which at this point

you still kind of would be, it's,

it's not as much this early early adopter phase

anymore, but

You know, Web three is really starting to become something that the mainstream understands or

is starting to tune into and realize that this is inevitable. The sooner you get into

this and you build a name for yourself and you get a couple of good projects under your belt and you under your belt and you build some good relationships,

There are only so many people in this space and everyone is figuring it out. So if you are able to help somebody or you join a company and you do great work, the likelihood that you get referred uh to another

great company is

very, very high and again,

whether you are a

freelancer or a product

manager or

an executive or a builder or a developer? I mean the sky is the limit, this is a completely new world with new rules, all the bullsh it from web to

about

how do I mean like this idea of like remote working for example, it's not even a question

in web three,

it's it's not really

much of a question anymore in web to either, because

they realize that in order for them to survive, they have to

Act like Web three

companies, they have to be remote first. But all of this is driven

by Web

three. Let me give

another example. So you get to illustrate the

importance

of what I'm talking about

and why you need to

be at the cutting edge of

this 10 years ago, 15

years ago, even

working at google was the best thing you

could possibly do. It

was the creme de la

creme

peak of the peak, top of the ladder and in fact I somehow worked at google during that time and it was amazing, it was amazing

for a certain amount of time and you you probably already know the story behind all of this, no need to go into it now, it's relevant to this episode,

but it was incredible and there was so much to gain and so much to learn. I remember when I would tell people I

worked at google, they were just like,

whoa, that's so cool, how did you do that? Oh my God, you

must, wow, it must be so

amazing. Are you really smart? Are you

really special? And it was like, no, I just you know I did my thing, I

got there. But the point is that that was the peak of the peak, the top of the top, the cutting edge of tech, that's not the case

anymore,

that's not the case anymore. Today, it'd be more interesting to say you work for you go labs,

uh

the entity that

owns board

ape yacht club and just acquired

crypto punks and

me bits, it'd be more interesting to say you work for UNICEF swap, a decentralized exchange. It would be more interesting to say you work at coin base even which coin base centralized exchange. Once you dive

down the rabbit hole of crypto you'll find that, you know, there's respect of course for centralized exchanges because they are

the on

board and off board

for your fiat

to go into their

their the on ramp and off ramp for fiat

currency into Cryptocurrency.

So

we have to have them. They're very important.

But the coolest

projects,

those are kind of like

web two companies,

basically the coolest

projects are at

these, you know, cutting edge

crypto

native companies, these true web

three companies these

decentralized these D. A. O. S. These douse that's where

the action is. You know,

working on a

project that's built um

in the on the ethereum

Blockchain, the most innovative, incredible Blockchain

that there is by far and that's why the

majority of developers and the smartest people in the

world are working

in the ethereum

space,

like this ethereum

ecosystem,

because there's endless amounts of

opportunity

and the smartest people are working in it, so why wouldn't

you be and they need people, they're dying to get people. So the purpose of this episode is quite simple. It is to say, take the time to take a very

hard look to determine

should I be

working in this space?

Am I interested in this space? And and and and realized this very

important fact

when you think about working in tech, like that's not a big deal, is it? It's like, okay, do

I want a work with my

hands labor job,

which is wonderful and beautiful as well, or

do I want to work in tech? It's kind of very broad at this point, but it didn't used to

be right

working for an internet based company

was like, whoa, that's crazy, like, you know, there's a

lot of risk there like now it's just everything, everything, you know, is tech and web two, but the same thing is

Going to happen with Web three,

everyone's

like, oh my God, what's going on over there? It's risky. N. F. T. S. Blockchain, all that stuff. It's like,

no, it's the new internet, it is the future, It is here now, it is going to take over every aspect of our lives and so it's really

just a question of like

do you want

to uh you know work on

bicycles

or and you know um be a

painter or an artist and that's amazing or do you

want to work in this new

Tech in Web 3? And by the way you could be an

artist working

In Web three as well as you probably know creating digital art and digital

collections of

art that you get paid on for ever. Like you can't even be a musician in web to like okay musician and web to Spotify get paid for every stream musician and web three, you know, launch a social token or an N. F. T. That gives access to your music a lifetime subscription, sell that lifetime subscription in the form of an N. F. T. And you as the artist and the creator get a percentage of royalties for the rest of that digital assets life and potentially your life. I mean talk about passive fucking income like it's a revolution and all you gotta do is begin to look at this with the right lens and I think that you will find that this is something you need to do

most likely

and it's a decision you need to make. So again, the purpose of this is should

you be in this space,

should you

start thinking about what that might look like.

I think the answer for

a lot of people is yes,

and if so, what would it look like and there's no wrong

answers here.

And the key reason that I recommend that you really

look at this seriously

and do this is honestly not just because of this, this growing technology and that the fact that

it is the new internet and the new world and it's going to take over every aspect of our lives and it's important to be at the cutting edge of

it. Not just that, but also the fact of what's

going on in the macro

where I started this conversation, things are crazy and I probably should do

an episode on that as

well. But as you

know, and you've heard enough and it's everywhere CNN every podcast everywhere you look,

things

are crazy

how this all unfolds. Nobody

knows. So,

first of all, be wary of anybody who's telling

you, they know what's going to happen with Russia or Ukraine or this

war or

whether it's going to expand and NATO is going to get involved or not or what it's gonna do to the dollar or what it's gonna do to gold or whether it's going to do to oil what it's gonna do to

crypto nobody

knows. So,

anyone who

says they do know

they're absolutely

lying

that said it's very

important for

us to be aware of the fact that this

macro is only going to become more and more uncertain and more and more

volatile to really be in a position

where you feel

secure and safe. I believe it's to be at the cutting edge of this industry and to own assets. And one of the

reasons that I think it's very

important to be in this

industry

is that it will teach you

more and more and

more about crypto, it will get you invested into crypto, it may end up that you start earning crypto currencies and you need to own assets. People are about to get

fucked

royally. That don't own assets because of what's happening in the economy with this level of inflation that we're seeing and your assets whatever you own. I mean you could own anything at this point. That's why I'm like all this

talk about do I own

does coin or this coin or that coin? It's nonsense All assets that are sturdy risk on assets

right now

that like even even stocks at this point like the comparison

between the stock market

and crypto. Sure it's

a big jump. I mean

Crypto over the last five

To 10 years is 200% returns. You know the stock market is 10%, let's just call it the s. p 500 is

10% big difference there. But the point is assets should increase in value and returns at approximately double

the rate of inflation

at a very

simple sort of

math. Let's just call

it that.

So in order to not drown in

inflation

and be able to have some level of security

in your life,

you're going to need assets and that doesn't even dive into what's happening

uh in the macro in terms of the

risk of, you know, needing assets that you maintain sovereignty and control

and ownership over

as we've seen in

Ukraine and in Russia,

owning any form of fiat currency where centralized entities and banks have the ability to control

them is very, very risky

as well. And so

you know, for example what we saw in

Ukraine and

again, I know you're maybe you're not in Ukraine, you know, you're in the US or you're in Canada or

whatever. But even in Canada, what happened politically affected a lot of people and their bank

accounts were

frozen right with the freedom

convoy.

Again, I use these as

examples to illustrate that

people are

learning the importance of sovereignty

of their wealth, their finances and no matter what happens

with regulation and

Cryptocurrency, if you own your assets

on your own hardware wallet,

you have to

use, you know, if you really want to be safe and secure

non

custodial hardware wallet, you know, cold storage,

it's fully in

your hands and your hands only and no one else

that's yours, that is borderless, That is permission liss. If you need to move to Portugal

one day

you can have access

to those funds,

bit of a tangent. But

I think it's important because it ties

in, once you get into this

industry, once

you get invested,

you start to

realize one most

important principle

of all of this crypto is

not about getting

rich, it's about

freedom. All of this is ultimately about

freedom. And as you

know, my number one value in life is freedom. And so

all that to say take a good

hard

Sophisticated strategic look at Web three

and ask yourself

where's my place in this and after you do that. And after you listen to this,

let

me know, let me know where you end up

doing that and what

you end up doing

with this decision. Um shoot

me a DM on twitter or instagram

to let me know. You can also tweet at me, I'd be curious, I'd be happy to retweet your answer after you share that your answer with me. Um at Armani Asadi

spending a

lot more time on twitter these days as a lot of the conversation

is happening there

and sending you much

love much bliss, much joy during very,

very uncertain times that I do not think um is going to go away anytime soon. And perhaps that's also another episode. But

I

am here to say that I am more

optimistic

than ever because I have no choice.

We have to be but

we also can't be

naive. We need to face the facts. We

need to understand that we're going through an ideological

war

like never before

and that this

is going to take time

and it could be a decade long battle

of watching this geopolitical situation

play

out in this war

of

authoritarianism and libertarianism play out while America and the rest of the world figures out, do we want more

centralized entities and governments

or do we want to go more

decentralized? Do

we want to go more

global or

do we want to go you know,

more isolationist time will tell. It's

starting to look like every country is going more and more isolationist

and more

and more authoritarian.

And the response to that that

I think is very important is for us to become

global citizens. To counteract that, to balance that,

to

value sovereignty

of our

finances and to become borderless citizens of the world

and work

in the decentralized world

which is web

three to balance to balance that all out.

Because

uh this

is all going to be very

interesting. So hope you're well sending you much love, let me know

what you think of this episode. Let me know what you think about this and your response to it, your plan and how it might affect things. Hopefully it gives you a little bit of thought in the right direction of perhaps what you're already um thinking about. And until next time much love Catch you next one

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