What’s the Story? AI Stocks, Crypto Downturn, Metals Selloff, SaaSpocalypse | Jim Bianco
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Bankless nation, the markets feel very chaotic lately, so we brought on Jim Bianco, who is a repeat bankless guest, to tell us what the heck is going on. Before we get there, we gotta shout out our friends and sponsors over at Kraken and their new DeFi product. It's called DeFi Earn. It's all based right in the Kraken app, also called
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Alright, Jim. I saw your Twitter, so I know you watched the Super Bowl. I think you called it the worst Super Bowl ever. I I tend to agree. But what did you think of the Coinbase commercial? That was also very controversial. Did you see it?
Yes. I did. I I I kinda liked it and kinda somewhat adjacent to crypto is I I kinda like the Claude commercials too. I thought that those were pretty funny as well. But, you know, I I wouldn't quite go as far as to say it was the crypto or AI bubble, you know, like we had a couple of years ago in 2022 Yeah. 2023. But it was it was I liked it. What about you?
Okay. I So was watching it with my family, and the reaction was basically, like, everyone was singing along, Backstreet Boys. They had no idea what it was. In the back of my mind, I was like, this looks really similar to the previous commercial Coinbase played. So that was kind of out there. And then as soon as the song kind of ended in Coinbase logo shows up and it says, you know, crypto or whatever, my whole family looks at me and everyone groans. So that was my experience with it.
I will say this about the commercials in general. I think that they're overproduced, you know, and basically what it is is every commercial to me seems to be the same. Let's get a bunch of A list celebrities, overpay them, overproduce thirty seconds of a big budget to try and make everybody laugh. And it's like, there there's 50 of them during the you know, they're all the same thing, and they they need to kinda Mhmm. Get a little bit more creative. Kinda why I kinda like that one. I thought it was a little bit different. That's true.
Yeah. I will say that about Coinbase commercials generally is they have zigged when everyone else has zagged. Speaking of a zigging and zagging market, Jim
Yeah.
There is just a bunch of stuff going on that I am confused about. I'm gonna call this section the the WTF was last week section. There's just a bunch of different things that if they happened in a vacuum, I wouldn't otherwise need an expert like you to come on to show and give you analysis. But four big things, if maybe more happened at once. One of them was SaaS apocalypse. SaaS apocalypse is just this name of this fear driven sell off on the idea that AI is starting to look more like a substitute for software SaaS companies instead of a feature that makes SaaS better. So people are saying, C
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