I am in Miami today to have a fireside chat with my good friend Jan Van Eck who is the CEO of Van Eck (an $80 billion ETF and Mutual family of funds). Their annual crypto conference is here in South Beach.

A lot of my friends in the technology space have moved here so it was rather easy to get a large dinner together of very smart investors and founders and we had a great time. I consider them ‘speculators’ for leaving California behind to live in Florida.

There is a lot of speculation happening in Miami. I love that. Speculators get excited. They tell great stories and they attract more speculators.

Yesterday I tossed a tweet grenade on Twitter about speculation in Miami’s new favorite thing NFT’s and Crypto:

I don’t have any data to prove this but I like to stir it up with the crypto ‘Yoots’ every now and again.

My friend Justin chimes in with an important point about speculators that I agree with:

Art is wonderful (and there are some great artists working in crypto) and building community is a mitzvah, but what is driving crypto and NFT’s is speculation.