0:00 [Music] here's a really good one for steve to comment on so you know the graphics card company nvidia well they make a lot more than graphics cards but in video oh yes they refined 5.5 million by the sec for failing to acknowledge that crypto mining was responsible for their massive profit increase wait what everyone knows that i know what i know you'll see gamers know that everybody you need you need graphics cards to have miners and stuff well it depends on what you're mining but usually yeah like ethereum miners and anything where you're mining complex hashes yeah yeah definitely one you definitely want gpus so back in the like in 2017 when you couldn't even buy a graphics card to save your life if you were just putting in a computer uh it was very very obvious right that everybody was buying them up for crypto even at the store everyone there
0:52 knows everyone there is my billy miners it's like you're all talking shop about miners nobody's there to ████ pz game yeah but the reason why they were supposed to make a uh they were supposed to make that an actual official announcement in their statistics that like oh we made more money because people are buying um graphics cards from miners they didn't do that because if you say something like that then your investors who see this huge hike you're not you don't want them to know it's because of crypto because a lot of them view crypto as volatile so they won't think that's how it's always going to be so if they go wow there's a 54 increase in in profits great nvidia must be doing something right keep it up but if you say oh it's because of crypto everyone's buying these graphics cards they're going to go oh after this year i'm going to pull all my money out because the year after that when crypto the fad dies out nobody's gonna be buying these cards yeah fat dies every every couple years
1:43 guys and they're supposed to tell their investors that's exactly why they didn't do that so now they got fined 5.5 million ████ i feel like that's nothing to a accompany that size just about to tell you what do you think what do you think the revenue is they probably made nine figures they were killing i mean dude you couldn't get graphics card to save your life like it was like crazy dude like for how many years is this for this is their 2018 filing oh 2018. they're only getting it's news now because now they're being they're being uh penalized for it but i thought crypto was dead in 2018. that's like it's got to be in the previous year probably 100 million okay so imagine this you just got fined by five million yeah for something that happened that gave you revenue of 9.714 billion
2:33 billions with a b business is good dude that's like when um remember when that's less than tax way less than time apple was killing everybody and then samsung's like ████ it we're copying apple to save our business they did that and then like you know what ████ it we'll pay the fine later and that's exactly what they did i did it in pennies pennies a billion dollars or whatever wow so but they saved their business big time and they actually have a huge market share because of it nine billion nine point seven one four billion i'm so off i thought it would be just like 100 million but at the same time though it's like they're just paying the sec in a fine right it's not like uh that's money or percentage that goes back to investors or shareholders that maybe may have gotten affected if like sales didn't work out you know what i'm saying yeah just goes to the securities commission anyway it's so ████ yeah it goes through the sc what do they do
3:23 with it yeah it's an educated decision for them to choose not to tell investors that yeah yeah and it was honestly what makes that the wrong choice in any of these statistics i wonder what the rule is for disclosure and like why you have to tell them and whatever if you get information that's the rule is because you're it's misleading the investors it's telling them that you're making profit on just business as usual rather than like something that they will view as an anomaly but if an investor asks and says why the profits and if they don't disclose it that's a penalty yeah exactly if they're just like hey huge but it is if no one asks is that supposed to still be disclosed oh they they definitely asked but you know in this situation they live not every investor is going to have the freaking time or whatever to just get in there and ask like so many people got money spread out everywhere i'm surprised they didn't like do one of those things where
4:14 it's like oh we had a killer year we did this we did this we did this we did this we sold the crypto we did this we did you know what i'm saying where they they mention it in order to legally like not face like potential ramifications but if you're gonna make 9 billion and then you know the fine might be like five million because it's a very ████ can't wait till they admit that they've been running bitcoin or um ethereum miners for years yeah a garen ████ and that's one of their assets guarantee it guarantees that's the the main thing is not that they never said it verbally they probably have a million times you're just supposed to file a very specific form with that information on it and they didn't do that it doesn't matter what they say they could say that it's that it's freaking uh the prices have gone up because of tethered to rice you guys get those uh letters from the things that you're invested into and they're like we're gonna vote on this committee and i'm all like i only got like a thousand dollars
5:05 in here i don't know that vote's gonna i got one for endeavor because i i put a hundred dollars in it like two years ago that's the company that owns the ufc oh and i wow i bought it like a hundred dollars of it and they sent me an email today they're like oh we're gonna vote on the shareholdings and i was like ████ i want a hundred dollars which is worth 88 dollars today so your boy is gonna have a say and this is a huge company it's not much different honestly endows like decentralized autonomous organizations and crypto like how many times do you see people voting on that ████ like you see like if you had 100 of people voting it'd be much different but you see like ████ 30 maybe 50 or less much less or if it's 30 it's because like three whales own 30 percent you know what i mean or because maybe the it's like one of the hot button issues and not one of the normal issues like something that's when a lot of voters come in yeah i voted on a few but most of them they pass without me even
5:56 knowing that it's there yeah yeah we usually only jump in to vote when there's like a threat to something that affects us negatively but if i'm like a shareholder of nvidia and they didn't tell me that like s███'s you know that what whatever they're doing but i'm just seeing the ████ you know price increase i don't give a ████ you know what i'm saying right so cool to say you have a shareholders meeting yeah i'm attending one sounds good no big deal i mean those things look like meanings i put on my google calendar and i'm like yeah so yeah that 5.5 million is .05 of that revenue wow oh that's uh that's what we usually get from our our banks for our savings accounts in interest point zero five so then paying that penalty it also exonerates them from being able to uh admit or deny the findings they don't have to say ████ they're like okay we'll pay it we're not
6:46 gonna admit we did anything wrong we're not gonna you know we're not gonna deny nothing i mean they're just playing the game that's the game they're playing the game those are the rules that were set in place all good nvidia stock would have been pretty good for sure let's see if we have no idea is it too late to the game for sure see these are the things that i don't that i wish i knew that i spent more time on but i'm watching people farm on youtube farm what just people like hey i bought a farm in the midwest and i'm pursuing my dreams to be a farmer and then they're like look at this year's harvest we got ████ chicken rotating but on the ground is that a fantasy of yours like owning a farm i like farms yeah i mean like i'm a you know i got a partnership 12 but like i never visited ████ are you supposed to nah i mean i do the online marketing portion of it so like yeah it's like it doesn't matter that you walk through it looking at all the
7:36 vlogs and ████ i might have bought this this is okay so up 40 up 30 last year we could do better but i like i was probably too busy watching mascot abuse videos on youtube what's mascot abuse ████ a mascot suit people anytime mascots are getting ████ up ████ makes me laugh oh just just a team mascot but like it's either either he's wailing on somebody else or somebody else is wailing on him i ████ see him while like the giant furry head's still on yes yes oh he plugs into the head literal mascot abuse videos that ████ die every time i love it you want to know something really yeah you want to know something kind of sad so this article you used to beat up one and then they died i just think steve will have something really nice to say about this so this article um
8:26 i chose to use a uh article from kotaku which kind of is it's like more of like a video game culture article these guys ████ hate crypto you know what you know what you want to last line of this article it says crypto ████ everything up for everyone since 2009. dude you know why are they gamers that haters why they can't get the graphics cards they're so ████ pissed i get why at least i get that but it's not just like well i didn't buy it so ████ them yeah they also don't like crypto and nfts because it's kind of like invasive into like what is supposed to be like a growing gaming space trying to his face just getting more and more softer out of all the people that would be into crypto i would think it would be gamers because it's like the computer world it will be why are they because they hate it more than wall street what they should because crypto gaming sucks dick right yeah that's why that's the reason why wait what's what's considered crypto gaming oh bro
9:19 bad games with monetary gains it's like 2d barely spreading like looks like ████ is that is that like the awkwardness no oculus is tight looking yeah because a lot of people that's not considered crypto gaming no wait which unless there's a crypto game on oculus i haven't heard of oh i i just don't know i'm talking about like the popular ones like axi infinity and like all these other ones i just don't know anything to have a like a conversation with you about this so i'm gonna shut up thank you no you're fine that ends the video [Music] [Applause] [Music] you
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