BUILD ASSETS

“AI agents can already collaborate, but they lack a trustworthy medium in which to store value and execute contracts.”

“The acquisition of Beacon following the acquisition of Kodiak, which is followed now by the acquisition of TopBuild, takes us from eleven months ago where we had no building products revenue, let alone EBITDA, to the second largest publicly traded building products distributor in North America with more than $18,000,000,000 in combined company revenue and more than $2,000,000,000 of combined adjusted EBITDA. It's a big deal in the industry and a big deal in the market as a whole.”

“Jeremy explains why traditional banking fails to support the needs of AI agents, and how stablecoins like USDC facilitate an internet-native economy.”

“We are witnessing the evolution of private credit onto open onchain rails.”

“The gap between being a creator and a founder is what actually determines if your business is scalable.”

“When we complete the merger, we'll be number one in insulation, we'll be the second biggest in roofing, will be number one in waterproofing, and will hold number one or number two positions in certain geographies within lumber and building materials. So we'll have a huge addressable market, several $100,000,000,000.”

“We will get a lot of business from data centers, but not just on the installation. Data centers need roofs too. Data centers need waterproofing, very much so. Data centers often need lumber related products. So so data centers are big consumers of building products. Now TopBuild itself has single digit percentage exposure to data centers, but it's very fast growing.”

“We focus on structuring deals to align with traditional private capital.”

“They also discuss the tokenization of real-world assets, the move toward full-reserve banking.”

“TopBuild is the largest installer and distributor of insulation. And as you were just saying, everybody needs insulation. Every house needs insulation in the walls. Every office building needs insulation everywhere. It's a needed product, and it's not going anywhere.”

“The thing that struck me is that actually people are perfectly reasonable. They say, look, do you know what? It comes down to three things. It comes down to learning to speak English, obeying the law, and working hard on paying tax. Beyond that, we should be living let live.”

“If you begin restoring a bit of fairness to the tax system, actually like that old socialist Nigel Lawson did, equalizing capital gains tax rates and income tax rates, you would begin to raise the money over the course of five to six years to build the kind of sovereign wealth fund that could help you finance those kinds of tax breaks.”

“Pioneering a new category of Open Credit expands the TAM for private credit.”

“But there's this weird dynamic on chain, which is I can just issue a utility token to fund my project. And so like what role does debt actually play? And I guess my view would be it largely has been supply and demand for leverage. And so credit cycles on chain, they don't necessarily follow sort of credit cycles in the TradFi world.”

“Jeremy’s predictions for double-digit GDP growth as AI and blockchain reach their 'broadband moment.'”

“The explosion of stablecoin demand is enabling entirely new borrowing types.”

“This kind of reinvention of social capital and civic connectedness is what we need to glue communities back together again. And this is where the government has actually got its plan bang on. So this big multi-billion pound Pride in Place fund that it has launched... is actually one of its biggest and boldest and best ideas.”

“What creators avoid—but shouldn't—are the scaling pains required to make a business acquisition-ready.”

“IRL events are the next big creator play for high-engagement media brands.”

“I was talking to everyone at BrainPoint that this is going to be really good and big in Solana. Because we always wanted this and we finally have it. And I think although we live in this permissionless 24-7 world, it's still fine and some people still lose money and things break.”

“Then we've got to have the courage to take on some of the forces that are deepening divisions. One, American Big Tech. Two, kleptocrats trying to surge dark money into British politics. So there's a fight there as well. It's not just about, let's just refresh fraternity and build a more united kingdom from this diverse nations that we've got.”

“You want to do it well, you want to inform people about the token, what does it do, what are the risks, what is the yield coming from, be as transparent as possible, try to curate as much as possible. Because that's how you build a user base that appreciates those things, that invites other people, trusts you, etc.”

“I think we always wanted to get here to have something like quality assets that people can simply hold on chain, self-custody, or, you know, borrow land loop, which is like kind of like a simple way of tranching it, you know, getting the senior trash or the junior trash by lending or by looping it.”

“One, your borders have got to be strong. So, if you think about what we had to do, we had to go to the UK border agency, put people in uniform, create these kind of offshore checks before people got anywhere near the border. You've got to have strong borders, and that is why you have to fix the boats crisis.”

“What we observed with Prime is when you have something that is sustainable and that scale, it takes a bit of time, but people start trusting it and then they realize they can do useful things. People with that want to earn yield, they can rely on it. So this was always the promise of defy composable money, but there were no pieces to compose with.”

“The idea here is that you restore savings matches, tax breaks and incentives for people to build up assets, to put down a deposit on a home to call their own, to retrain, restock their human capital and to save more into a pension. Singapore is probably the best example. And the way you pay for it is actually by building a sovereign wealth fund.”

“You have to figure out how to eliminate key-face risk so the brand lives beyond you.”

“Circle’s Arc Blockchain, an economic 'operating system' designed for a world where machines drive the real economy.”

“We have got to be punchier in taking on the selfish minority who don't play by the rules. And on the Business and Trade Committee, we see them week in, week out. Why has Fujitsu not contributed a bean to the two billion pound bill for restoring justice to the post-Obvious Horizon victims? Not a penny have they paid.”

“The old economy is still here. It's not generative AI, but it's arguably maybe it's even more important. You couldn't have the new economy without cooling and heating. The actual business of making things and moving things, heating and cooling, is very much enmeshed with the new economy, which is all about generative AI.”

“Building a modern credit institution requires utilizing the latest technology.”

“Big companies are looking for systems and assets that don't depend on one person's social media profile.”