Hey everybody, this is Brian, and today we're going to start our journey on Java. What is Java? Well, a quick Google will tell you what Java is. Java is a cross-platform language that runs on quite literally any platform out there. So the code you write on a Windows box will run on Linux and Unix and macOS and etc, etc. Java's used around the world. It's one of the most popular languages out there. The reason why I'm doing this is because I am studying for the Sun-certified Java Programmer. That's the Sun-certified Java Programmer or SCJP certification. Now you notice when you search for Sun-certified Java Programmer, you're taken to Oracle. Why is that? Everybody knows that Sun may Java, while Oracle bought Sun. Well, I should rephrase, they bought parts of Sun, not all of it, but for the most part, just know that Oracle bought Sun. So it's now the Oracle-certified professional Java Programmer. Same exam from what I've heard, but I'm going to study for it nonetheless. The one that I'm going to go for is the 31065 Java Standard Edition 6. There's different editions of Java. What you really need to know is there's a standard edition and a mobile edition and an enterprise edition. What's the difference between those two? Well, the mobile edition is for, you guessed it, mobile phones. It is more for desktop programming and Java Enterprise Edition is more for server programming. For this, we're going to be doing the standard edition, but all editions of Java are roughly the same. So these tutorials will help you with any of them. So the first thing you need to do is actually download Java. How do you get that? Well, let's try the Java Development Kit or JDK. As you see, there's a lot of them out there. So Java SE Standard Edition and you just go to download and you notice there will be like FX and NetBeans and EE Enterprise Edition. Remember, we just discussed EE. What are these other two? FX is kind of their competition for Macromedia Flash, whereas NetBeans is an IDE. We will not be covering NetBeans, we'll be using Eclipse, which is arguably a little more popular and a little more user-friendly in the beginning. So anyways, you just click Java and chances are you already have Java installed, but if you don't, you just download the Development Kit. Now there's something you should know here. There's a Java Runtime and a Java Development Kit. The Runtime allows you to run Java code.  This allows you to run Java. You're going to be programming Java, so you're going to need the Runtime and the JDK. So go to java.com, choose your language, download the JRE or Java Runtime environment, and then you're going to need to find the JDK, which you can find from oracle.com or just a quick Google of JDK. You're going to download Standard Edition, you can click on Java, oh, I should probably back up and mention this. You can also get the JRE here. So if you just Google JDK, you can get the JDK or the JRE. Anyways, just click Java, follow the prompts on the screen, you're going to want to download Java Standard Edition Development Kit. I'm using 6U21. 6U21 means Java 6 Update 21, you can see Java 6 Update 21 right here. Really the additions don't matter. Just know that you're using the Java Development Kit. After you've downloaded and installed those, you're going to want to download what's called Eclipse. You can go to eclipse.org, and be careful Googling Eclipse because you might get that vampire movie, teenage girls love that, but anyways, go to eclipse.org and this is a very popular IDE, download and install the edition for that.  You can see there's Eclipse Java, Eclipse Runtime, SOA, Pulsar Modeling, Application Frameworks. This has become a whole movement in itself and don't worry, all of this is 100% free. You're diving into what's called the open source software movement or just open source. So typically, I mean just pick whatever you want. Go to downloads. I'm just going to kind of walk through here. It's been a while. The one I downloaded was the Eclipse IDE for Java Developers, it's 99 megs. It comes as a zip file. Basically you just extract it and run it. There's really no setup needed. You'll see all these weird acronyms. We'll get into these later where it says order Eclipse, ESV, all this stuff. It's going to look totally Greek to you if you've never touched Java. Just download the edition that's right for you. As you can see, it comes for Windows, Mac, and Linux. Once you have those set up, go to the next video which we will be starting in Eclipse. Thank you for watching. I'll see you in the next one in this video, educational and entertaining.


Now that you're familiar with the course, we'll explore Unit 1, Elements of Entrepreneurship. This unit will explore the history of entrepreneurship and what it takes to become a successful business owner. You will learn about various business theories as well as how to distinguish a business idea from a business opportunity. You can also take a survey to see if you're prepared to become a business owner. Some of the topics covered in this unit include the definition of entrepreneurship, entrepreneurial drive, entrepreneurship and the entrepreneurial process. You will also take a look at characteristics of entrepreneurs, business ethics and which legal form of business is the right one for you. These and other questions about business formation will be addressed in this unit. Also, as you read and view the resources of this unit, remember to take notes. These notes will be valuable to you when you are studying for the unit assessments in the final exam. Remember that each unit provides the foundation for the units to follow. So it is important that you understand the concepts and elements in each unit before moving on to the next one. Good luck with Unit 1 of the course and we'll see you here again at the beginning of Unit 2.


Thank you so much pleasure to be here everybody and you know there is this saying that the future is already here it is just unevenly distributed. So that is what I am talking about but not about the future I am talking about martech and commerce tech and these have already arrived they are just unevenly distributed. So what do I mean by this you know before I go there I will talk a little bit about this initiative of ours this is an initiative we launched four years back and we saw that when it came to martech and related technologies there was no real India specific data available. So when we had to talk to anybody art peers or customers or anybody we used to you know get into a scenario of referring to some data from the US or something like that it was always a handicap for us. So at Miram we took matters into our own hands and we said that ok let us do this survey for India and that is how the report was launched four years back. This time around what we have done is we have expanded the scope of the report to include not just martech but also commerce tech Miram and our parent company VML and VML commerce they are full service digital agencies with martech as well as commerce capabilities and that is why expanding the scope made perfect sense. So with that I am happy to launch the India martech and commerce tech report 2024 powered by Miram and VML. We have two great partners we have E4M who is a media partner with us and web engage who is the retention partner they are obviously with us today and we will do the inauguration of the report shortly. But what I thought was of course once the inauguration is done the report will be available online and we also have some physical copies for everybody to pick up at the reception. What I will do is before the inauguration itself I will run you through eight key insights that we are finding out about the report. Now how did we arrive at these insights? So what we did is we so VML and Miram we are a WPP group company we worked with Kantar to actually run a survey with 250 plus marketing decision makers and this survey the outcome of this survey is what helped us with these insights. So it is a very very rigorous scientific process that we have arrived at to commit this some of these insights. We also have some brilliant insights shared by marketing leaders. So the report that you will see is you know there is data and charts and all that good stuff that can help you as a marketer or agency person or a decision maker you know make up your mind but we also have lot of anecdotes lot of you know conversations with marketing leaders to help you you know add a extra dimension to that data right. So we have insights from all of these marketing leaders that you see here and we have respondents across several different industries and that really gives everybody some sort of a takeaway. In fact what you will see is that you know the unevenly distributed part one of the variables across which it is uneven is how have different industries or representatives of different industries responded to the survey. We will also see how have different designations responded. So if I am a CMO versus a Chief Digital Officer versus a CEO how do my perceptions about Martek and commerce tech differ you will see all of that. So this is the industry mix and with that I will jump in to select insights. So I have eight insights broadly covering the different sections of the report and I will run through these insights and then of course I will invite questions so that I am which I am happy to answer. So the first one of course is that this is you know from our section called Martek Landscape and what we see in this section is that more respondents are spending a much larger part of their marketing budget on Martek than ever before and this indicates a strategic prioritization of Martek. So what we will see is that you know the question had multiple options so we looked at everybody who said that they are spending over 16% of their marketing budgets on Martek. The number of people who said that this year is 65% plus as against 18% respondents in last year's last year's report. So you see a phenomenal growth and you will see a further breakup how many are saying 16 to 25 you can just see the jump and you can see how many are saying 25% plus. So there is a huge growth in fact we have something called the Martek Quadrant we see this year that the two top you know areas of the quadrant which are heroes and explorers. So these are people who are already extensively using Martek and who plan to increase their spends they today constitute over 90% of all respondents. So Martek is certainly here and that is a very very important observation why does it still make sense to see this slide because the global average is 30% of spends on Martek. So while we have grown significantly there is a huge headroom for growth which should make all players extremely happy. The next thing that we ask this is from our objectives and challenges of using you know marketing technology. The next thing we see is that you know we ask what drives your marketing strategy is it driven by technology is it driven by creativity or an equal mix of both. Now what happens is that even last year even this year we saw a similar pattern that most people say equal mix of both right equal mix of marketing of creativity and technology. But the interesting thing thing we saw this year is that the people who say that technology drives their marketing strategy technology alone has grown from 10% to 26% right and that is just a phenomenal growth. And what we believe is that one of the trends and we see it in the report in depth one of the trends that has happened over the course of last one year is this barrage of JNAI based technologies that have come into the market and that is perhaps one of the reasons why this has happened right. So very very interesting observation. Now this is a interesting one I do not mean to cause any fights within your organization but this is insight which shows that a lot of executives are not always on the same page when it comes to deciding about you know marketing technology. So what we see for example is that we ask a question always that do you prefer to use a marketing technology product that is a individual product or that is part of an integrated stack. And what we see for example is a CEO or a CMO is roughly the same number 72% say we prefer integrated stack. But when it comes to a CDO or CTO 53% say and so basically a large number of people are open to working with best in class technology even if it is not part of an integrated stack. Interestingly this correlates to another observation which is not here but it is in the detailed report that the one of the main challenges of choosing marketing technology is the act of choosing it is very difficult probably because of this sort of a you know gap within organizations that is something that VML and Mirum can of course help solve but this is not a sales pitch I keep reminding myself okay so back to the report. So this is what this is a very very interesting observation we have. Another interesting observation so we ask in your you know in your Martek team what are the top skills that you want your team members to have. Now interestingly just like we saw with creativity and technology what we see is the top two skills people want indicating you know right brain left brain sort of balance is creativity and data and analytics. So when someone is building a Martek skill these are the keys Martek team these are the key skills they look for within their team members. Now coming to commerce tech landscape now this is a new section for the report and we have some really you know amazing insights here. This one for example says that 95% of respondents view commerce tech as a strategic growth driver for their organization. Now this is across the broad set of respondents 250 plus what this tells us is that you know commerce tech and commerce is not something today that is restricted to our what we might traditionally think as industries which are likely to do their business online. This is now become absolutely mass based right so very very interesting observation. Another observation from the commerce tech space again this is you know like the not evenly distributed sort of thing when we split this up we so we asked what's your preferred approach of online commerce right is it market places is a direct to customer is it social commerce what we see for example is the smaller the company the smaller the you know in terms of organization size I think our smallest size was 101 to 500 people they tend to prefer social commerce the big bar in the middle much more than other formats perhaps because entry barrier is lower as you move to the larger organizations they have more resources more bandwidth and so on so 5000 plus you see that they are preferring all channels almost equally right so that's interesting observation size of the organization dictating you know what they preferred approaches. Okay now coming to the last couple of insights before we actually inaugurate the report this is so interesting right this has been probably third mega trend in the last one year about JNAI now what what we see is that you know the biggest use of JNAI that you know these marketing decision makers have responded to is efficiency of content marketing right that's and we are surmises that because these you know prompt based AI tools became so popular as as JNAI and one of the key uses of that was generating content right that's why this is very big but what we see is that while you know content efficiency is the big one there are so many other you know uses of JNAI that we are also seeing you know for example we see that for delivering personalized experiences is a very big thing that people want JNAI to use right optimizing sales and business strategies these are things that they are expecting JNAI to use again in the report you'll see that if a person is a chief digital or chief technology transformation officer versus a CMO versus a CEO their own perspectives about which technology is most useful also is different so that's one thing on JNAI and this is another very interesting one one of the things we've been tracking is again a mega trend over the last few years is how organizations talk about data unification within you know their within their organizations how respondents talk about it and what we've seen is that last year in 2023 when we asked respondents so there are multiple options to this question but I'm focusing on one option people who respond saying data is completely unified in our organization those people were 13 percent last year this year they are 21 percent right so this is a mega trend that we've been seeing and this also includes technologies like CDPs and so on and so forth that people are adopting in order to drive this trend right so these are a few observations that we have from the report you know before we get and you know the report will now be available both online as well as for you to you know pick up from outside before I move to the actual inauguration I'm happy to answer any questions and anything anybody wants to know about any of the insights or anything at all I'm happy to answer of course I am available through the day so happy to have a discussion later as well super so I think you can scan this QR code and download the report and pick it up as well should we proceed to the inauguration so this is a little bit about us we are a growth partner we are a full-service digital agency and absolutely happy to be with you today should we invite everyone


SummerLab is a four-week entrepreneurial experience for all students here at the University of Auckland. It is for all levels, from all faculties. Students come in with basically no experience on entrepreneurship and in the four weeks we take them through the steps of what it takes to be an entrepreneur. It's essentially a startup 101 course for students. They very quickly get you into teams and since it's a four-week program they try hammer you down on the things you need to be doing. We mix them up in groups from all faculties and then they go and identify a problem that they really care about. It's fast-paced, it's intense. You watch the students develop, they go from feeling somewhat overwhelmed, unsure, kind of in a state of flux through to clarity in four weeks. Our students care so much about UN Sustainable Development Goals. They really care about the environment and so it's the passion and the drive that the students have to really make this world a better place. Opportunities in people are very accessible. With a couple of contacts you can find investors who might be interested in you. You can find people who want to work in your team, you can get access to capital. At the end of this year when I'm looking for internships this is actually the kind of experience and exposure that our employees are looking for. Just having like-minded people around you just to be able to ask them questions, get feedback on is super helpful. The mentors are an amazing group of people that are part of our wider entrepreneurial ecosystem. Often what they will say to us is it's a highlight of their year. They just love working with students, the energy, the enthusiasm and just wanting to support them. My mentor gave us insights and contacts as well on the industry and gave us advice on where our next steps should be for the next week, for the next two weeks. I'm quite happy to say that you know we've all come out of this with a great experience and great friendships as well. If you're thinking about doing it, just do it.  Even if you're not completely sure, I would still definitely highly recommend participating. Kia ora students, come and join us. It's one of those experiences that you might get snippets of throughout your university experience but this is going to happen in a condensed, fast-paced way. You'll meet lots of really interesting people, both the students but also part of the wider entrepreneurial ecosystem, so we'd love to see you come and join us.


Fainale we see the dream come true for Rayon Messi after 36 yas. Remember, as per the speculation, this is his last FIFA World Cup that he will be playing and has actually achieved his dream. Remember, he has done all the best for his team. That's what I can say is the golden ball award winner. This has been the world cup that everyone will have memories to remember, especially people who have come to the golf country, to the small golf country and actually the first middle east country to hold the FIFA World Cup and the second Asian country to hold the FIFA World Cup 2022 and it has even still gone further to break the record by making it the most pacifally and more hospitable world cup. We are seeing Rayon Messi being awarded with the golden ball award of the most, most variable player.


Hey guys, welcome back to another weekend of my life vlog. Just starting this off in the office I actually still have to go to the studio and like I'm gonna do a few work things today I've been up since six. I've been trying the whole like miracle morning thing working early. It's been amazing I've done so much today, but a package just came in the mail It's actually from Desenio and I have some new frames for the kitchen I'm still in the process of decorating my house. I have lived here since February Decorating a house is expensive. So if you guys are new here and you guys like this video, be sure to subscribe Follow my Instagram. I'm constantly posting cool stuff there as well. Also check out my podcast I love you so much on iTunes and like everything else. Anyways, let's go open. Let's go unbox this I'm very excited. I'm I just ordered these a few nights ago. They came super quick too So that's freaking awesome Here is my package. Even the stickers are cute. These are not stickers. What am I saying? The tape is very cute. I have to say I like when Companies like pay attention to packaging. I think that's really smart Oh my gosh, I'm so excited Oh, I have two frames Right here and then I don't know where I'm gonna hang these in my house yet Still have to figure that out and then I have my prints right here. Oh Says look this is cute. Thank you from us to you filled with love share your wallet with us We can find you. Oh Here are my friends So here are my beautiful new prints tonight when y'all and I come back home I'm gonna have her help me like just decide where I'm gonna put them, but I love them I think they're so cute and I just love like black and white stuff and it's just dope So we'll figure out what we're putting these not sure as of right now, but I love them so much So the next few days if you guys want to you can make an order on disennial Dot-com and use a code at Kinsey for hey guys, this is Kinsey from the future We actually have an even better discount code I look crazy right now at first it was 25% off and now it is 40% off So for the next two days you guys can use the code at Kinsey 40 for 40% off So be sure to go check it out. They have amazing prints. This is just their black weekend offer So use Kinsey 40 and you guys get early access and a better offer an incredible 40% off all the posters It is valid between the 20th and the 22nd it's not including the handpick posters or frames, but yeah, it's awesome guys Go check them out. It's actually a lot these prints are really good quality and there's so many options I really like how they have like a section on the website. You'll see it when you go on, but it's like find a pair There's already like styled for you essentially so they're really cool That's how I found these two, but I absolutely love them. I think they're super fun So again, I'm gonna have that like linked down below and all the info down below And then I'm gonna hang them later in this vlog, but I love home decor updates I feel like they just have been missing from the vlogs lately just because I was out of moving mode and now I'm back and like Okay, my house needs to feel like a home and it does it So if you guys have any other stores and stuff that you know are good for home decor Let me know in the comments down below. I really am just like I need more rugs. I need so many things, you know With Yana, we're gonna go record a podcast But first we are in Beverly Hills right now to get some Alfred because I need coffee food Yana needs food There we go. I'm so hungry.  Oh my gosh Wait, like especially when it's straight you guys can't see it. It's so long. Oh my god No, she's at Melrose guys all my friends work at Alfred every single one of them all of my friends So basically any offer that I go to it's not just this one. It's all over Instagram There you go. She's not Instagram. She's starting to move. So I got a little breakfast Mufferita, they're out of those. They're always out of those breakfast muffin thing and Winnie-Pie Ranger, I love it here. Thanks Devon my favorite free stuff Yeah, I am there's no blades guys. What are we gonna do here? So sorry, thank you. Thank you. Thank you. Thank you See Texan We're all Texans here, right Yana Look show them your Texas tattoo You're like the tattoo artist kind of messed it up. Yeah, I know it's handsome. It's like so embarrassing Yana, I have a song. I have a song to show you. I have a song to show you you're gonna be like You know I feel it in my soul. Yeah, so deep so deep Amazing all right y'all are you ready? Mm-hmm the second I put these headphones on it's just the best part of my day every single day Yes, stay um like you're welcome. Is this good awesome Taylor? Are these coasters new yes? We just love them because the glass mm-hmm so much noise so try to get seated to wear it sounds good So talk as loud as you want. I can adjust here, okay Hey, Yana, hello, I almost said hey girly cat, but I really know I already did It was a mistake guys. I promise we you know when you start saying words like Ironically, and then they are stuck in your vocabulary Girlie cat. I don't know everyone around us is the muffin. Yeah, let's just go.  Ignore me We are clearly done at the studio the podcast went amazing gonna be up probably is it really gonna be up in January We're gonna listen to this and be like everything's wrong wrong wrong wrong wrong wrong wrong Calm cute Friday night she got her BLT that she wanted so bad she insisted on it Here's my beautiful soup We are back at Aroma again, I know that we just left with a vlog at Aroma, but we had that for dinner last night and now we're having breakfast, so it's okay, it's 7 a.m. We're gonna do a nice little divo, it's so poppy, and then I get the salmon stock here that is the best thing ever, if you're ever at Aroma, get it, it's so good. But yeah, Aroma is just like, it makes my heart just so happy, love it here. And they just call it O-Milk and I'm convinced it's because of me, so I take the credit for O-Milk everywhere in Los Angeles, I have nothing to do with it, and I take all, I take both of it. It's a little bit later, we're crossing the street, we're going to Blue Stone Land to get some coffee, I know I just got coffee, but it got cold, so I need to get another one. I'm running across the street. Got a cold brew with O-Milk, I'm gonna stop next door and see if they have any sunglasses, they still don't have any sunglasses, it's not been good for me. Got a cold brew with O-Milk and a paper straw, so I got like 10 other ones, but... At this beautiful restaurant that we're about to go to, guys. It is so perfect, I'm so obsessed. So freaking cute. We're gonna get some pie before lunch, because it's about an hour long wait, so it's just logical. They have pumpkin pie. Yeah, I know. Hi, can I just have a slice of the apple, or can I have pumpkin pie? Yeah, absolutely. Cool. Got my pumpkin pie, it's so cute, it's not orange. We made it to the farm. We tried to eat here last time we were here. There's a vlog on my old vlog channel, I need to use that, but it is so freaking cute and festive, and we have like an hour wait there. So we're gonna go apple picking and just kind of look around, but it's so cute. You look so fall and just cute. Look at you. I'm inspired by you. Look at her matching. Look at her matching. We're about to go... I don't even know, play archery, archery. Yeah, that thing. How do you guys feel? You're about to go arrow shooting. Terrified. Very, very excited. Just an update, it's called archery, not arrow shooting. Kenzie hit the bullseye. Yeah, that was mine. I got my cider break damn guys, look at that slush. It's so small. Shot, shot, shot. It's so cute. There's Yana and her pumpkin. Pumpkin queen. Just a pumpkin queen. We'll be back, we'll be back at around six o'clock. I just got a slush. I could sleep right now. I'm going to need to have so much coffee. I've always gotten sleep costs out.  It was like a tank top and I didn't have to wear a bra with it and it was black. Do you remember that? No. I got my beautiful, beautiful Sonic. My ocean water slush, wow. Okay guys, just got back. We're about to go to the Lainey concert. I don't even think I said I'm going there. But changed. I'm not vlogging tonight. I'll answer a few clips from probably, hey, how are we showing the tickets? Did you put a screenshot? Okay, I need to check that for my laptop. I've used my student ID email because that's all I had. Anyways, I'll see you guys tomorrow. Right here. It's a nice pen. We're hanging up our new prints. Very exciting. I love this. Wow. That was really quick too. Is it so crooked? No. It actually looks like really good. They look kind of smaller in camera. They look bigger, don't you think? Yeah, they look bigger in person. It looks so good. We have stuff hanging on our walls. We've only lived here for like eight months. How have you actually lived here for eight months? Two years later. Yeah, literally two years. We're on our third least term in the same house. This is amazing. Wow. I love it. Bob the builder got it done in like literally two seconds. Get wrecked. Get wrecked. Hanging. Yep, that's fun. Yes. It looks, oh yes. I love our masterpiece. Okay guys, so it's a little bit later. I'm going to end the vlog because I never did and I need to get this one up. So again, if you guys want to check out Zennia, which you guys definitely should, there are so many prints and there are so many that are already paired, so it's super helpful. I'm like a huge fan. I want like a whole gallery wall in my house, even maybe my kitchen from them. That's like kind of the goal. So, hope you guys enjoyed this vlog. Subscribe if you guys haven't already. Love you guys so much and I will see you soon. Bye.


Hi everyone, Joe for jasphyscasebreaks.com with another 21-22 Panini National Treasures basketball break This is a full case four box pick your team number four brand new release big Thanks to everyone here for getting in on the action Thanks to all the people who bought their their team straight up. I appreciate that Joshua with last-bought mojo cabs We did pull some teams out for those number blocks as you can see right there And those we did all in separate randomizer videos. So there's the Boston one. Thanks to Gretchen For for gifting a spot to Kevin who was in the filler with her over here. We got the another Random number block right here different set of teams Here and then another number block with another set of teams Thank you, man Full fresh case So fresh and so clean Empty box and away we go and as we've seen with all of these cases thus far Seems like the bigger RPAs are hiding right in the middle of the pack Then there's a couple relics in the last two seem to be autos as well. So Just FYI that'll that'll be how it goes. We're gonna use that blank card to hide the hits a little bit and We're gonna lead off with LeBron James nice 37 out of 75 So that's a number block team that Lakers group So we go by that digit right there if you're not familiar with number blocks. So seven Lakers seven is On this side over here Lakers seven will be for Josh One plate per box that is James Weissman I always think these printing plates that gives you night a lot of nice space for an autograph right there That's Gretchen with the Warriors bought the Warriors straight up and of course out of fives and under get the train whistle All aboard the big-head Express Next card is Evan Mobley Rookie jumbo materials 94 out of 99 Picked up straight up by Joshua last spot mojo Century materials Donovan Mitchell 14 out of 25 two-color patch That is for Utah. That's Richard picked up the jazz straight up redemption is I a de Sunmu who I believe is a bull Yes, Chicago will get that one Chicago's a number block team So that goes to Chicago zero gets any and all redemptions Gretchen shy city next up Jaden springer to 25 Nice patch a lot of nice colors in there nice auto one out of 25 That is for the Sixers Sixers are also part of that Toronto number block route. So that goes to Philadelphia one And that'll be for Joshua With that extra spot that you won There's IO de Sunmu 45 out of 99 IO Sign your card, sir. We appreciate it. And that'll go to Chicago five and that will be for for Joshua as well Chris Duarte 94 out of 99 Pacers Jeremy Harder With his Pacers Scott Pacers straight up Big game James nice six out of ten Peerless signatures need more that worthy clap and the post game shows this upcoming season Laker six Lakers are on this side here. That is for for Gretchen and number six and The last one here is Malcolm Brogdon 42 out of 99 Jersey clutch factor Jersey and on-card auto Jeremy Harder. That's that's his Pacers All right, nice start out of box one box two Sorry Nicholas. We'll get him next time. All right 34 out of 75 Bobby Portis That'll be for the Boston number block group that goes to Milwaukee four That's for Gretchen and the plate Malachi Flynn Toronto one Number four Toronto number one Joshua Josh All aboard the big-head Express Two-color patch game gear Michael Bridges nine out of 25 Phoenix Sun Sun's part of that Toronto number block group Phoenix nine Gretchen. There's DeMarna Rosen 60 out of 99 Chicago zero That'll be for Gretchen and we got a patch of Ewing Game gear autographs Jersey and auto 45 out of 74 Wayne Stock picked up the Knicks Straight up and a lot of breaks too. Thanks Wayne. Is Patrick even still coaching Georgetown? I want to say like he's doing all right out there and The redemption is is Miles McBride Miles McBride Blank you on where McBride goes.  I'm homing like he's a Nick Joe and that's the rookie Patrick autographs 75th anniversary Edition is that number to 75? I would imagine All right, we got some pistons Jeremy Grant game gear autographs Jersey and auto seven out of 49 Joshua with Detroit Joe Smith one out of 25 Penmanship autograph for Gretchen and the Warriors Warriors come out to play The first overall pick in the 1995 draft and we got 84 out of 99 Anthony Simons Portland Portland four that's gonna be four for Gretchen. Oh, that's right. It is Bellinger bobblehead night. He's 0 for three He's do And the other relic is Rudy go bear 47 out of 99 That's Richard with the jazz So like the jazz got a huge haul for Rudy go bear All right halfway through this four box break Next box. Good luck 75 Paul George It's kind of fun with the clippers got the clippers straight straight up That's Peyton Pritchard Boston Celtics Celtics are a number block team Boston number one is Gretchen Gretchen All aboard the big hit express Jason Tatum 54 out of 99 that's Boston four That is for Gretchen 70 out of 99 Luka Donchich Dallas that's gonna be for the that Lakers number block group Dallas zero it's on over on this side here Dallas zero for Gretchen Definitive Inc. Deandre Hunter 21 out of 49 Atlanta part of the Boston number block group So Atlanta one Cameron Thomas 29 out of 75 Brooklyn Nets two-color patch and on-card autograph nice rookie patch auto for Jimmy picked up the Nets straight up biography materials Tobias Harris This is Clippers edition Tana Vaat with the Clippers Game gear relics Steven Adams six out of 99 for Memphis When shun with the Grizzlies should be a couple more autos. Yes. Oh, yeah Okongoo three-color patch and autograph seven out of ten Atlanta seven Atlanta seven is for Jeff.  Good luck. We got more of this NT in the store ladies and gentlemen I some of you might not like the sound of that. I know these are pretty hefty investments, but There is more jasky's case breaks on com final box and we got some on the personal side on his Instagram live We got one out of 99. Oh gee and a OB Oh, sorry and a OB is a Raptor by the way that goes to Toronto one That'll be for Joshua the one-of-one will also go to you Joshua Malachi Flynn Joshua all aboard the Big Hit Express Jaren Jackson jr. Triple J two out of 99 for when shun and the Grizzlies Kevin McHale seven out of 25 Boston seven will be for Jeff Carl Malone eight out of 15 Rick with the jazz and we've got Jared Butler Six out of 75. That's your rookie patch and autograph for Richard and Utah Yeah, that's right. Go bolts.  Oh Little bit of a little bit of that splash of green right there in this one pretty cool All right. What else do we got here? We've got Lonzo ball 45 at a 99 Chicago five That will be for Joshua One more relic should be two more auto. There's Colin Sexton 65 at a 99 Please this is for you Joshua last two Good luck everybody Game Gear autographs Bernard King Another old-school Nick going to Wayne and the last one here is Jerry Lucas another New York Nick Another old-school Nick for you Wayne 36 out of 49 Starting your old-school Nick PC whether you intended to or not and that is that ladies and gentlemen Another NT break in the books appreciate everybody getting in thanks for watching. Thanks for breaking with us Like I said, we got more in the store. Jasper's case breaks.com. Bye. Bye


Everybody welcome to the Saturday stream. Thanks for showing up. I appreciate it So today it's like the thumbnail and title suggests it was kind of shocking to me Just how fast the institutional domination really came into play as far as Bitcoin and of course I'm talking about it's a great website. It's called buy bitcoin worldwide com forage last treasuries links will be in the description and I was taking a look at this and just how fast The ETF so the institutions have actually acquired everything actually let me pull up here And we get to see that I mean the black rocks the fidelity of the grayscales They have a boatload of Bitcoin and when I take a look at the percentage of as far as 21 million It's almost 4% and it's only been what we're talking about a couple weeks something like that So just imagine that in two weeks. This is what they've accumulated. Can you imagine what's gonna be like in? I don't know four weeks six months ten years It just makes me kind of concerned about a concentration Of course, you know people will say that's not a big deal because there's you know There's so much Bitcoin out there and of course, we'll never sell. I don't really think that's true I think at some point along the line people will sell a little bit And I'll just kind of just get into those hands, but that's either here or there That's just speculation. I just want to show you just how fast this actually happened What was crazy to me is that these ETFs actually have almost double than what the countries do and of course public companies Private only 1% and Bitcoin mine come in 0.18 and we're gonna actually break this down We can just see how much the concentration actually is across the board as far as private companies and of course Michael sailor I mean, they're almost at 200,000 Bitcoin which is roughly the amount that is in the estate of mount gock So I find it quite interesting about how much they've accumulated over time and they've been doing it the right way Dollar cost averaging OTC using coin desk so on and so forth And of course Mara one of the big Bitcoin mining operations 15,000 and Tesla who had over 60,000 Bitcoin at one point trim its position is still in the number three position I think that's very bullish for us. So we think take a look at it. How day coin base Galaxy digital Mike and his his crew and also I was looking around here. I couldn't believe it, but Voyager digital as 2200 so see that works out as time goes on So that is the companies USA and of course the USA just filed a addendum looks like they're gonna sell off some of their Bitcoin Roughly about a hundred and thirty million dollars worth, which isn't a big deal But they have roughly the same amount as we took a look at a micro strategy It's almost 207,000 China Assuming 194,000 Ukraine and so on and so forth and then this is the interesting one mount gock still has 200,000 I know everybody gives it a bad rap like mount gocks is gonna, you know dump on us and it's gonna happen But even so I don't think people are gonna sell 200,000 of Bitcoin right off the block They know anything about Bitcoin. They probably do if they got him back then 2013 2014 They probably know that it's pretty good idea just to hold until after the having but it could be wrong So that's what we have and then moving down into the whole point of this the trusts Gray scale Unfortunately is has the lion's share they'll drop off, but they have almost a half a million Fiber and 12,000 Black rock is almost 50 coin shares 48 fidelity 43 and so on and so forth So I know people will look at this and say that's a lot I mean for what it is and it's kind of worrisome, but I wanted to just Talk to you about this the reason why I bring this up is because Out of all the things we just talked about the number of Bitcoin and It's only 2 million Now the total max supply is roughly well tall max flies not roughly tall max flies 21 million straight It's not scarce. It's finite and roughly 19.7 or so million have already been mined. We won't see the last one mined until 2140 So I think we got a little bit of time and the value today out of those 2 million Bitcoin is 85 billion Dollars, what is that that is 10% of the total amount? So even though people will say, ah, you know institutions are really you know getting into it's kind of worrisome There's still a lot in the hands of the general Joe and Jane just like you and me and I think it's Not too bad and not too much to worry about now now as time moves on It could be a little bit a little bit worrisome And if you want to take a look at you can always check that website also if you go to blackrock.com You can find out they're holding. This is as a January 25th, and it matches up Exactly with the Treasury website. We just took a look at They've got 49,000 of Bitcoin and market value is just under two billion dollars total. So again I think it's an interesting case and if we're talking about Bitcoin dominance right now as far as like who holds what It's the institutions any elementary thing about that in the comment section. Yes, we are holding more But institutions are making their way up also The economy I know people are kind of concerned Still about this. I think you know we hear rumblings of recessions here and there and of course yielding versions and such and so forth And there's something to be said, but there was a report that just came out on Friday And it looks like things are positive. I didn't hear too much about this I think everybody was been talking about the ETF. So here's something to be a little more bullish about So this was from blockworks. I said that personal compute consumer expenditures or PCE index date released Friday was in line with analyst expectation They showed a zero point two percent increase in December and a two point nine percent high year over year Numbers are a sign that while inflation is still up, which we can all feel It is trending lower and that's what we want to hear We want we want to hear that inflation is going down That means that Jerome Powell on the gang can finally maybe to talk about a little bit of pivot action Of course once they pivot we know that there's going to be a recession on the corner But we get out of the way and that's exactly what we want Spending last month increased zero point seven percent. I find this interesting spending last month increased almost a point Comfortably exceeding the zero point five percent that was expected again. I believe this is adjusted for time frame Because of course last month was holidays That was expected Craig Earl I'm a senior market analyst at Oanda he states It's another sign that the US consumer and economy on a very healthy shape going into the new year I would just make a little preface which which is this right now if you take a look at the amount of Debt as far as credit cards right and near all-time high So we're looking at roughly a trillion dollars in credit card debt So I know that we've spent a lot I think a lot of that is on credit cards and debt So we'll see how that all shakes out as time goes on and then also a little bit bullish news Truflation you can find them at trueflation.com where they have they point all the on on On-time data as fast as they possibly can a lot of different data points Of course, these are the things that the Fed doesn't use but they're they say that's the inflation is actually Even lower than what the government's reporting at 1.82 percent. I know people will say well We don't really care about that. Let's know what Jerome takes looks at I'm just taking a look at it for future-looking and it looks like Inflation may be under control and we'll see if those rate hikes or those rate cuts come in anyhow Let me what you think about that in the comments section. I find that quite bullish and also Solana this was a good one So there has been a lot of airdrops coming up and people love airdrops You know I love airdrops. It's free stuff the problem with airdrops is that there's a lot of scams out There's just be careful as much as you possibly can get the information for somebody that you trust instead of some guy Who knows a guy who knows a guy who says get this airdrop connect this to your ledger and see what happens He could drained this one was interesting When this was a big airdrop. This was on Jupiter the Solana exchange and If you don't know when is I think it's kind of goofy all this stuff is goofy to my personal opinion, but people love it When is a community token based on fractionalized NFT of a poem? Yeah, you read that right? Fractionalized NFT of a poem using tech from all those NFTs Jupiter exchange split founder Where Mao's poem a love letter to when bros into a trillion pieces Can't make that up Anyhow as you may or may not know according to data reviewed by coin desk just under half of the wallets who made WEN's white list had claimed their tokens by press time Each eligible wallet gets the same amount of WEN which is 643,000 tokens which if you think about it's not back is worth about 70 bucks. That's roughly Well, it's almost one Solana. I think Solana's roughly around 98 bucks right now So not too bad or a heck of a lot of XRP. So If you haven't done this already, I'll show you how to do it WEN's creators minted 1 trillion WEN earmark 700 billion of it for this three-day airdrop which is going on right now and What did that mean for? The wallet the wallets will phantom wallet, which I used to I use phantom and Titus. They're both hot wallets They had a big problem with that They said while we did our best to prepare the WEN airdrop showed we still have more work to do Solana ecosystem operating at an unprecedented scale in crypto Proud of helped and some of the stuff they say so essentially what they said is like look Solana the ecosystem could handle it We couldn't handle it and we're gonna try to do better when we do the Jupiter airdrop So if you are so inclined to do this, I did this actually last night It's very simple. You go to the website jupe. AG jupe. AG the links in the description Don't try to search for it.  Let me show you how this works.  That's it So I got 70 bucks for essentially doing nothing anyhow. That's what's happening there and then Again, here's the website. This is what it looks like jupe. AG and Everybody was excited about this was supposed from Marty party says Jupiter passes uniswap in 24-hour volume during when airdrop The flipping is real uniswap Jupiter and Marty's right As far as like 24-hour volume everybody there's a lot of people going into that But just be just be aware that when we take a look at this this on-chain data that Marty here is just talking about Jupiter versus uniswap versus Orca, but if you take a look at Artemis This is one of my favorite websites because it's free and it's got a lot of good data if we just take a look at the decks volumes across the board for all The decks is that are on aptos near Solana sweet Ethereum polygon so on so forth You can see that as of yesterday Ethereum still had 1.24 billion in volume. That's a boatload Solana did pretty good at 635 But it's roughly path avalanche way back aptos 3.67 sweet 70 Polyon or five so Yes, there was a flipping for the exchanges, but just be aware of the data can be you know parsed out any way that any way shape or form and that would lead me to our last topic which is near now You have to understand that on this channel. I am super biased I usually talk only about the things that I own so if I talk about it I probably on it a near I own a boatload of it, so I will probably talk about it a lot But there's a reason why I like it First of all, I just had an integration with MetaMask And if you know, you know MetaMask only has so many different chains on it I personally dislike MetaMask. I find it to be cumbersome and a trashy wallet That's just me in my personal opinion. You're welcome to sound off in the comment section But hey, they got a lot of users. So why not? So they did that Also, I know that Ethereum talked about sharding and a lot of different things, but you know that since September 2022 Near is already done. It's already completed. They're sharding near phase one They've already had that implemented and that's why they're so fast and so cheap They actually struck up a deal between them and Polygon to build the a ZK L2 roll-up as they again collaborate together It's because they want to be abstraction and also Another one of my projects I talk about or used to talk about a lot and I'll talk about as much anymore Sweatcoin they were able to bring this beauty Sweatcoin's been around since 2018. They brought their 100 million users on a web 3 and didn't skip a beat There was no downfall There was no pause of the network and they brought everybody over during that during the tge And that's when I actually stood up and took a took notice and we take a look at daily active addresses again an Artemis It's always near in Solana. It's always like near Solana and BNB daily transactions near Solana and BNB And then also on fees as far as like the low cost. It's always like really near in Solana. So there's that piece but This whole thing about abstraction I did a interview with Ilya who's the founder of Near and he kept talking about chain abstraction. So I just want to play this out for everybody chain abstraction is essentially If you can think about the days Before the internet was smooth like in the late 90s early 2000s when I was around It was a big pain in the a like to kind of move around and you had to do these Different services and dial-ups and it was a big big hassle and you actually were kind of seeing under the hood The whole thing with chain abstraction And we know it sucks. We know that that that that the blockchain is kind of cumbersome to use wouldn't it be great to use all these different I Mean cross chains and not have to bridge and port things over and just you know You could use like a coin from our token from arbitram and then go all the way over to to roots or near or to Solana and just swap things out and not know what the hell is going on in the background That's essentially what near is trying to do and kind of be this a chain abstraction layer So we did this interview with Ilya and when you see his background just know that there's always a There's always this meme. I always think about Because when I was interviewing him I was like Ilya are you one of those guys It just doesn't have furniture and like just works all the time like the meme He's like no no we just moved in this house So this is about an eight minute interview between me and me and Ilya needs to talk about what's happening What's going on and what's happening in the future? So just take a listen. It's about eight minutes We'll come back and do a little Q&A of Near so Ilya welcome to the show for the first time. Yeah, thanks for inviting. Oh, yeah So here's the thing. I I know you guys have a lot of a lot of happenings going on I'm an investor so when I talk about this stuff, of course, I'm severely biased everybody should know that by now on this channel But Ilya talked to us about what makes near so great Why the transaction fees are so low? Why is it so fast and of course what's going on everything between so kind of bring us up to speed with what it is What's going on and what's in the future? For sure. Yeah So on a high level what we set out to do is not just build another blockchain is to truly build a Platform that makes web through usable that it unboards next billion users and to do that you do need a blockchain And so near has a sharded kind of scalable low fees Blockchain underneath but there is also a lot of other pieces that coming together Okay, and and so a lot of kind of the way we've been framing it is calling it blockchain operating system because it allows to kind of as a user to use Applications across the whole that three is that really needing to think about you know what blockchain runs under the hood? How to pay for the fees which developers build it etc. And so yeah, what you're looking at right now is near the door Which runs kind of off? Blockchain operating system which you could actually use applications on near But you can also use applications on ethereum and on other ebms and kind of how the chains are coming So so kind of at the high level this what we call a chain abstraction We're building kind of the platform Where as user you don't need to think about the kind of details and specifics of the blockchain You don't really need to think about fees etc. It's all kind of taken care of for you now to power that we have kind of set of components or you know a stack of Infrastructure that we build and the first part is near blockchain Which is sharded scalable layer one? it's built with a few things in mind how to make it the most user friendly the most developer friendly and the most scalable platform and From this perspective the way to build scalable platforms is to follow There's similar pattern to web 2 so generally the way to scale any system is to add more computers that parallel In parallel process more, you know problems right more transactions more data store more data, etc. And Right now we see kind of various Ecosystems taking different approaches right cosmos took approach of having a bunch of different chains and each chain is its own Application and now you as a user need to think about where where which application it is do you have fees there like duty to bridge? Ethereum took a roll-up approach, which is still a parallel processing if you have multiple roll-ups But what we see is every roll-up has the same thing right there pretty much kind of just mirrors of each other right what what near took is approach where you Have kind of underneath the same parallel processing lots of machine doing different work accepting different transactions But as a user you don't need to see it You don't actually see that you know, we have multiple shards that processing things in parallel You're just interacting it as if it's a single blockchain and that is again user friendly But it also allows to continue growing the capacity of the network so we can keep adding more shards to the network to the level as The demand growth without users need and developers in this case to think about Kind of capacity of the network. They don't need to care about it. They don't need to worry about it and actually for developers on near You can have your application anywhere from you know Nobody's using it to actually as if you had their own up chain as if you had your own cosmos chain or roll-up or subnet or whatever Because the near network can actually scale to that and let you have your full capacity of kind of a single shard So that's kind of generally how we enable both Scalability and through scalability. It means we can have Lowest fees right and so you have a graphic here that shows that we actually have lowest fees right now on average in the market Enabling pretty much the most transactions you can do If you're you know spending ten dollars Yeah, so so okay, so that's a lot to break down But let's just talk about and you said it right Everybody wants something that works in the background They don't have to see and it's fast and it's cheap and it just works That's really all we care about and it looks like that's what's happening right here So you did that there was a graphic here. This was from office is January 20th of this year 2024 how many average transactions you perform with ten dollars per chain? Obviously, I just used Ethereum this weekend as a matter of fact to do some kind of crazy D gen play and I've paid $15 and 14 cents or something crazy like that just for one transaction. That's not gonna happen It's not gonna it's it cannot work and it cannot scale like that That's what they're gonna layer to is but I found this interesting that if you're taking a look at ten dollars per chain You're saying with avalanche you can get roughly a dollar Because we're looking at 1199 I think this might be laying into the fact of when they had the problem with their ordinals Which is the same as going on with Bitcoin by that smart chain 21 Adam 56 Solana 132 And then you guys over here with 849 transactions for ten dollars. Is that pretty much accurate what we're looking at here? Yeah, exactly. This price is actually in dollars at the bottom So near is like fra like one cent or even fraction of a cent Solana is like five five seven cents And then yeah avalanche. I mean 80 cents, but even like 40 cents. It's pretty expensive It is pretty interesting because when we're talking about near because I'm a big believer in in sweat coin and I I'll be honest with you Really, I did not think you guys are gonna pull it off when you guys did the tge for sweat because you took a Product from web 2 would hat which had over a hundred million users and brought them all the way under the chain And even have a hiccup there was no shutdown and actually worked and after that I became a believer I'm like if they can do that if they can take all those web 2 people and actually make it work and not shut down I'm like there's something to be said On top of that when we're talking about these dApps and you see you said it you talked about how It can scale regardless of if reduces a couple people or a lot of people and here when we take a look at dApp radar And everybody who's watching this video right now the links in the description There's a project that I keep seeing at the very top Kai Ching and then yeah, so when you're talking about this you guys really I mean, I mean actually two of your Projects are in the top So three three out of top ten in monthly actives are that's right play ember you have your game on here. That makes sense So I always am impressed by also taking a look at the active addresses Transactions and fees because we just that's what we talked about There's a great website app that Artemis that XYZ for its last chains I'll link that in the description and we're gonna see that just taking a look at like January 15th For example the daily active addresses you guys are almost number one and You're right behind Binance chain. I think you guys flip-flop here and there but you have one point one six million Binance change has one point two six Lana's five hundred seventy-three roughly some around there and then transactions And here's the thing about about this one with transaction Solana here You're looking at twenty two million or so now you guys have two point three three million on there be there be a discrepancy Based on if these transactions are voting transactions or they are actually real transactions or group together Regardless doesn't matter the thing that I always like to look at is those two Metrics and then the fees and you guys are again on the very low side So how exactly are able to do that so well is it all the sharding or is it the new technology guys have coming out? Yeah, I mean it it's pretty much sharding, but Kind of the way we outline our roadmap back in 2020 has been Really a set of milestones to kind of get us to like an end game of sharding and so Yeah, right now. We are running with four shards, which is you know plenty of capacity for this apps It was plenty of capacity to indeed launch this kind of massive Consumer applications that we're having on near but over time Obviously, you know, we want to have billion active users, you know, even daily and so to get there, right? We need to continue scaling the capacity. And so the thing we have coming out Is what we call phase two. This is where we transitioning our validators To actually being able to process more transactions per each individual shard five to ten X more improvement performance per shard and then it allows us to have a lot more shards Kind of right now like we just went through four to five, but we can actually go Way beyond that was this new transition. And so we have this right now Kind of as one of the intimate like milestone major milestones for the near sharding design Which again, we'll really make our network more decentralized improved performance and Also validators We're gonna have a lot more validators with lower requirements to join the network to participate So I'm really excited. This will kind of, you know, continue showcasing and in many ways relate to what People were talking in 2018 2018 about sharding We actually have that all coming now To fruition. Wow, that's crazy. Well, Ilya, I gotta tell you that's a lot of information condensed in a very short amount of time I don't want to I don't want to make people's heads explode So let's just leave it there for now and what I like to have it as as you start to upgrade and do these things You talked about I'd like to hold your feet to the fire and have you come back on and talk about it Especially with the different upgrades you have. So how does that sound? That sounds good. Okay. So everybody you can check out Ilya I'll leave his X profile in the comment section or in the description, but that's it for today So Ilya, thanks so much for stopping by we appreciate it. Thanks, Rob Yeah, great. So thanks Ilya. We appreciate it and it's good information But you know again as great as these projects are just remember that they're all companies They're all businesses. They're all vying for the same thing. So hopefully they can take to the next level But again, it's difficult because there's so much competition and really I think as time goes on We're gonna see who are the winners and who are the losers But I do like how nearer makes things easy makes things cheap They got a lot of people on it. So now that takes care of today for the news everything else. Thanks so much for stopping by. Appreciate it


from Melbourne. Let's turn our attention to the bond market. Fixed income, Simon, Michelle from Fixed Securities joins us now. Low yields continue. Any sign of any reversal anywhere in the world around that, Simon? Afternoon, James. Look, I'm not into that any time soon. That's for sure. And just to bear in mind, I mean, we're in a negative yield environment at the moment pretty much globally. The US has very high interest rates when you compare globally. One of the countries that has higher than the US is Australia. And we have a triple low rating. Exactly. And look, in terms of that's obviously one of the reasons why we're seeing this, I suppose, relative strength in the Aussie dollar. A lot of central banks, including our own, waiting on the Fed to do something about their own Fed funds rates. When is that going to happen? Because it keeps being being pushed further and further out. Well, we started the week absolutely with an expectation it was going to be on the table. We saw some very positive commentary from some of the Fed presidents. But the minutes that we saw released yesterday just didn't match that commentary and, you know, it indicated a more of a split Fed and a willingness to wait and hold off and see how inflation and growth performs going forward. The futures market now says less than 50% chance of a further Fed rate increase this year. Wow. And look, do you think the data supports that, that pricing? Look, it does, I think, yeah. I think globally you're seeing downgrades to inflation and growth forecast. You're seeing that reflected in further downward movements in official cash rates, such as here, for example, in May and August, and continued quantitative easing and bond buying right throughout Japan and all throughout Europe as well. So look, I don't think, you know, we're likely to see that movement up. And as you mentioned, the top, you know, the US rates where they are, every time those do move up, you just see a lot of money hitting and taking advantage of those yields. So for those people who are in the fixed income space looking to build their exposure there, where are the flows going in terms of getting return in that space? Look, it's interesting. I think people are certainly looking for fixed rate return. So there's some certainty there. But interestingly, we're seeing continued demand for inflation link bonds both here and also what we call tips which are Treasury inflation protected securities in the US. Great demand for that. So investors are starting to prepare knowing that inflation is a major focus of the central banks. Great stuff, Simon. Appreciate it. Thank you. Have a good weekend. Simon and Michelle there from Fixed Securities. We are going to take a break when we come back.