If you watched the Super Bowl a couple weeks back, you might remember the nacho chili cheese dip with a dose of Crypto and Electric Vehicle Commercials. Rams won btw.
You always hear the millions spent per 30 second advertising time. Pinch me, Crypto and EV companies threw cash to let casual football ad watchers know they exist. As you throw cast every month for lost instruments in sterile. Seems like a waste. This is a little combo of ‘I told you so’ with a healthy side of ‘be freaking careful!’
Go back three years ago, about the time I started this little blog. Bitcoin is in a stale $3500 holding pattern. Tesla, the only major EV player then, delivered a strengthening 350,000+ cars. Fast forward to today, both Bitcoin and Tesla are 10x in price.
Eerily, they are entering the most exciting part of an S curve. The Hypergrowth Phase.
It sounds as cool as it looks. Well to a nerd dentist like me. It’s the liftoff point. And we are still in the early stages. How do I know? 3% That’s the number of people in this world that actually use Crypto or drive an EV.
That is the most scary notion for anyone not looking. We’re still in an early adoption phase. Think Yahoo internet search 1992. Netflix, Amazon and iPhone in 2007. Talk to anyone during these years. Nobody did not truly understand the use case, enormity and size they would grow to. You’re still questioning how I’m a crazy foolish dentist for suggesting that there would be magic internet crypto money and electric vehicles replacing gas vehicles even today.
It’s happening whether you believe it or not. Every year, we are seeing an exponential increase in exposure and adoption. This is the beginning of Hypergrowth. It is mind numbing and filled with reckless bumpy speculation along the way. It’s as smooth as zirconia after a diamond adjustment.
I’m just in awe of what is recently transpiring in the Canadian truckers and the freezing of financial assets. Imagine if all of us Dentists rallied and protested Insurances for their unfair mandates to underpay us and their patients. If the government froze your money, how could you circumvent this life altering scenario? If only there was a decentralized form of money that is a peer to peer direct transaction existed. Oh right, there already is one, Bitcoin.
Oh and what happens when Oil rich countries like Russia decide to go to war like it has today. Bless all the people who now have to endure such a selfish act of the parties involved. The run up on gas prices is going to hurt all those reliant on the black gold. Deciding to have an electric vehicle seems a lot more enticing suddenly than paying an additional $50 each time you pump.
Coldwater to the face! BAM!!! Wake up, don’t be foolish either!
Let me remind you of the 2000 Super Bowl. Kurt Warner and The Greatest Show On Turf coincidentally the Rams win that year as well.
Long forgotten and now defunct website companies such as E1040.com, Pets.com, LastMinuteTravel.com, OurBeginning.com, OnMoney.com and a few more littered game ads that year. WebMD at least is still here.
Only a few survive the hypergrowth stage.
From this years ads, pick from Crypto.com, Coinbase and FTX Trading. For EV cars, BMW, GM, Hyundai and Polestar.
Ironically, Tesla doesn’t even advertise. Hmmm, makes one think.
Adoption will keep doubling. Will you be the dental practice on the correct side of these upcoming growth stories? Maybe it’s time to think of opening up a cryptowallet and accept digital payments. Consider installing an EV level 2 courtesy charging station. Just thoughts with all the craziness happening.
Stay frosty my friend,
Lam