5 Bored Apes borrowed to claim $1.1 million in APE tokens
Takeaway
Unknown user took advantage of the ApeCoin airdrop to earn $1.1 million.
He used a flash loan to borrow five BAYC NFTs, claim the airdrop, and repay the NFTs.
Yuga Labs, the creators of BAYC, airdropped ApeCoin (APE) to anyone who owns one of their NFTs yesterday.
For the Bored Ape Yacht Club and Mutant Ape Yacht Club collections, the team allocated 150 million tokens, or 15% of the total ApeCoin supply, worth over $800 million. Each BAYC holder received 10,094 tokens worth $80,000 to $200,000.
But someone managed to claim the airdrop using NFTs they didn't own. They used the airdrop's specific features to carry it out. And it worked, earning them $1.1 million in ApeCoin.
The trick was that the ApeCoin airdrop wasn't based on who owned which Bored Ape at a given time. Instead, anyone with a Bored Ape at the time of the airdrop could claim it. So if you gave someone your Bored Ape and you hadn't claimed your tokens, they could claim them.
The person only needed to get hold of some Bored Apes that hadn't had their tokens claimed to claim the airdrop. They could be returned immediately.
So, what happened?
The person found a vault with five Bored Ape NFTs that hadn't been used to claim the airdrop.
A vault tokenizes an NFT or a group of NFTs. You put a bunch of NFTs in a vault and make a token. This token can then be staked for rewards or sold (representing part of the value of the collection of NFTs). Anyone with enough tokens can exchange them for NFTs.
This vault uses the NFTX protocol. In total, it contained five Bored Apes: #7594, #8214, #9915, #8167, and #4755. Nobody had claimed the airdrop because the NFTs were locked up in the vault and not controlled by anyone.
The person wanted to unlock the NFTs to claim the airdrop but didn't want to buy them outright s o they used a flash loan, a common tool for large DeFi hacks. Flash loans are a low-cost way to borrow large amounts of crypto that are repaid in the same transaction and block (meaning that the funds are never at risk of not being repaid).
With a flash loan of under $300,000 they bought a Bored Ape on NFT marketplace OpenSea. A large amount of the vault's token was then purchased, allowing them to redeem the five NFTs. The NFTs were used to claim the airdrop, before being returned, the tokens sold back, and the loan repaid.
During this process, they claimed 60,564 ApeCoin airdrops. They then sold them on Uniswap for 399 ETH ($1.1 million). Then they returned the Bored Ape NFT used as collateral to the same NFTX vault.
Attack or arbitrage?
However, security firm BlockSecTeam disagreed with many social media commentators. A flaw in the airdrop-claiming mechanism was exploited, it said.
According to BlockSecTeam's analysis, the user took advantage of a "vulnerability" in the airdrop.
"We suspect a hack due to a flaw in the airdrop mechanism. The attacker exploited this vulnerability to profit from the airdrop claim" said BlockSecTeam.
For example, the airdrop could have taken into account how long a person owned the NFT before claiming the reward.
Because Yuga Labs didn't take a snapshot, anyone could buy the NFT in real time and claim it. This is probably why BAYC sales exploded so soon after the airdrop announcement.
More on NFTs & Art

Stephen Moore
3 years ago
Trading Volume on OpenSea Drops by 99% as the NFT Boom Comes to an End
Wasn't that a get-rich-quick scheme?
OpenSea processed $2.7 billion in NFT transactions in May 2021.
Fueled by a crypto bull run, rumors of unfathomable riches, and FOMO, Bored Apes, Crypto Punks, and other JPEG-format trash projects flew off the virtual shelves, snatched up by retail investors and celebrities alike.
Over a year later, those shelves are overflowing and warehouses are backlogged. Since March, I've been writing less. In May and June, the bubble was close to bursting.
Apparently, the boom has finally peaked.
This bubble has punctured, and deflation has begun. On Aug. 28, OpenSea processed $9.34 million.
From that euphoric high of $2.7 billion, $9.34 million represents a spectacular decline of 99%.
OpenSea contradicts the data. A trading platform spokeswoman stated the comparison is unfair because it compares the site's highest and lowest trading days. They're the perfect two data points to assess the drop. OpenSea chooses to use ETH volume measures, which ignore crypto's shifting price. Since January 2022, monthly ETH volume has dropped 140%, according to Dune.
Unconvincing counterargument.
Further OpenSea indicators point to declining NFT demand:
Since January 2022, daily user visits have decreased by 50%.
Daily transactions have decreased by 50% since the beginning of the year in the same manner.
Off-platform, the floor price of Bored Apes has dropped from 145 ETH to 77 ETH. (At $4,800, a reduction from $700,000 to $370,000). Google search data shows waning popular interest.
It is a trend that will soon vanish, just like laser eyes.
NFTs haven't moved since the new year. Eminem and Snoop Dogg can utilize their apes in music videos or as 3D visuals to perform at the VMAs, but the reality is that NFTs have lost their public appeal and the market is trying to regain its footing.
They've lost popularity because?
Breaking records. The technology still lacks genuine use cases a year and a half after being popular.
They're pricey prestige symbols that have made a few people rich through cunning timing or less-than-savory scams or rug pulling. Over $10.5 billion has been taken through frauds, most of which are NFT enterprises promising to be the next Bored Apes, according to Web3 is going wonderfully. As the market falls, many ordinary investors realize they purchased into a self-fulfilling ecosystem that's halted. Many NFTs are sold between owner-held accounts to boost their price, data suggests. Most projects rely on social media excitement to debut with a high price before the first owners sell and chuckle to the bank. When they don't, the initiative fails, leaving investors high and dry.
NFTs are fading like laser eyes. Most people pushing the technology don't believe in it or the future it may bring. No, they just need a Kool-Aid-drunk buyer.
Everybody wins. When your JPEGs are worth 99% less than when you bought them, you've lost.
When demand reaches zero, many will lose.

middlemarch.eth
3 years ago
ERC721R: A new ERC721 contract for random minting so people don’t snipe all the rares!
That is, how to snipe all the rares without using ERC721R!
Introduction: Blessed and Lucky
Mphers was the first mfers derivative, and as a Phunks derivative, I wanted one.
I wanted an alien. And there are only 8 in the 6,969 collection. I got one!
In case it wasn't clear from the tweet, I meant that I was lucky to have figured out how to 100% guarantee I'd get an alien without any extra luck.
Read on to find out how I did it, how you can too, and how developers can avoid it!
How to make rare NFTs without luck.
# How to mint rare NFTs without needing luck
The key to minting a rare NFT is knowing the token's id ahead of time.
For example, once I knew my alien was #4002, I simply refreshed the mint page until #3992 was minted, and then mint 10 mphers.
How did I know #4002 was extraterrestrial? Let's go back.
First, go to the mpher contract's Etherscan page and look up the tokenURI of a previously issued token, token #1:
As you can see, mphers creates metadata URIs by combining the token id and an IPFS hash.
This method gives you the collection's provenance in every URI, and while that URI can be changed, it affects everyone and is public.
Consider a token URI without a provenance hash, like https://mphers.art/api?tokenId=1.
As a collector, you couldn't be sure the devs weren't changing #1's metadata at will.
The API allows you to specify “if #4002 has not been minted, do not show any information about it”, whereas IPFS does not allow this.
It's possible to look up the metadata of any token, whether or not it's been minted.
Simply replace the trailing “1” with your desired id.
Mpher #4002
These files contain all the information about the mpher with the specified id. For my alien, we simply search all metadata files for the string “alien mpher.”
Take a look at the 6,969 meta-data files I'm using OpenSea's IPFS gateway, but you could use ipfs.io or something else.
Use curl to download ten files at once. Downloading thousands of files quickly can lead to duplicates or errors. But with a little tweaking, you should be able to get everything (and dupes are fine for our purposes).
Now that you have everything in one place, grep for aliens:
The numbers are the file names that contain “alien mpher” and thus the aliens' ids.
The entire process takes under ten minutes. This technique works on many NFTs currently minting.
In practice, manually minting at the right time to get the alien is difficult, especially when tokens mint quickly. Then write a bot to poll totalSupply() every second and submit the mint transaction at the exact right time.
You could even look for the token you need in the mempool before it is minted, and get your mint into the same block!
However, in my experience, the “big” approach wins 95% of the time—but not 100%.
“Am I being set up all along?”
Is a question you might ask yourself if you're new to this.
It's disheartening to think you had no chance of minting anything that someone else wanted.
But, did you have no opportunity? You had an equal chance as everyone else!
Take me, for instance: I figured this out using open-source tools and free public information. Anyone can do this, and not understanding how a contract works before minting will lead to much worse issues.
The mpher mint was fair.
While a fair game, “snipe the alien” may not have been everyone's cup of tea.
People may have had more fun playing the “mint lottery” where tokens were distributed at random and no one could gain an advantage over someone simply clicking the “mint” button.
How might we proceed?
Minting For Fashion Hats Punks, I wanted to create a random minting experience without sacrificing fairness. In my opinion, a predictable mint beats an unfair one. Above all, participants must be equal.
Sadly, the most common method of creating a random experience—the post-mint “reveal”—is deeply unfair. It works as follows:
- During the mint, token metadata is unavailable. Instead, tokenURI() returns a blank JSON file for each id.
- An IPFS hash is updated once all tokens are minted.
- You can't tell how the contract owner chose which token ids got which metadata, so it appears random.
Because they alone decide who gets what, the person setting the metadata clearly has a huge unfair advantage over the people minting. Unlike the mpher mint, you have no chance of winning here.
But what if it's a well-known, trusted, doxxed dev team? Are reveals okay here?
No! No one should be trusted with such power. Even if someone isn't consciously trying to cheat, they have unconscious biases. They might also make a mistake and not realize it until it's too late, for example.
You should also not trust yourself. Imagine doing a reveal, thinking you did it correctly (nothing is 100%! ), and getting the rarest NFT. Isn't that a tad odd Do you think you deserve it? An NFT developer like myself would hate to be in this situation.
Reveals are bad*
UNLESS they are done without trust, meaning everyone can verify their fairness without relying on the developers (which you should never do).
An on-chain reveal powered by randomness that is verifiably outside of anyone's control is the most common way to achieve a trustless reveal (e.g., through Chainlink).
Tubby Cats did an excellent job on this reveal, and I highly recommend their contract and launch reflections. Their reveal was also cool because it was progressive—you didn't have to wait until the end of the mint to find out.
In his post-launch reflections, @DefiLlama stated that he made the contract as trustless as possible, removing as much trust as possible from the team.
In my opinion, everyone should know the rules of the game and trust that they will not be changed mid-stream, while trust minimization is critical because smart contracts were designed to reduce trust (and it makes it impossible to hack even if the team is compromised). This was a huge mistake because it limited our flexibility and our ability to correct mistakes.
And @DefiLlama is a superstar developer. Imagine how much stress maximizing trustlessness will cause you!
That leaves me with a bad solution that works in 99 percent of cases and is much easier to implement: random token assignments.
Introducing ERC721R: A fully compliant IERC721 implementation that picks token ids at random.
ERC721R implements the opposite of a reveal: we mint token ids randomly and assign metadata deterministically.
This allows us to reveal all metadata prior to minting while reducing snipe chances.
Then import the contract and use this code:
What is ERC721R and how does it work
First, a disclaimer: ERC721R isn't truly random. In this sense, it creates the same “game” as the mpher situation, where minters compete to exploit the mint. However, ERC721R is a much more difficult game.
To game ERC721R, you need to be able to predict a hash value using these inputs:
This is impossible for a normal person because it requires knowledge of the block timestamp of your mint, which you do not have.
To do this, a miner must set the timestamp to a value in the future, and whatever they do is dependent on the previous block's hash, which expires in about ten seconds when the next block is mined.
This pseudo-randomness is “good enough,” but if big money is involved, it will be gamed. Of course, the system it replaces—predictable minting—can be manipulated.
The token id is chosen in a clever implementation of the Fisher–Yates shuffle algorithm that I copied from CryptoPhunksV2.
Consider first the naive solution: (a 10,000 item collection is assumed):
- Make an array with 0–9999.
- To create a token, pick a random item from the array and use that as the token's id.
- Remove that value from the array and shorten it by one so that every index corresponds to an available token id.
This works, but it uses too much gas because changing an array's length and storing a large array of non-zero values is expensive.
How do we avoid them both? What if we started with a cheap 10,000-zero array? Let's assign an id to each index in that array.
Assume we pick index #6500 at random—#6500 is our token id, and we replace the 0 with a 1.
But what if we chose #6500 again? A 1 would indicate #6500 was taken, but then what? We can't just "roll again" because gas will be unpredictable and high, especially later mints.
This allows us to pick a token id 100% of the time without having to keep a separate list. Here's how it works:
- Make a 10,000 0 array.
- Create a 10,000 uint numAvailableTokens.
- Pick a number between 0 and numAvailableTokens. -1
- Think of #6500—look at index #6500. If it's 0, the next token id is #6500. If not, the value at index #6500 is your next token id (weird!)
- Examine the array's last value, numAvailableTokens — 1. If it's 0, move the value at #6500 to the end of the array (#9999 if it's the first token). If the array's last value is not zero, update index #6500 to store it.
- numAvailableTokens is decreased by 1.
- Repeat 3–6 for the next token id.
So there you go! The array stays the same size, but we can choose an available id reliably. The Solidity code is as follows:
Unfortunately, this algorithm uses more gas than the leading sequential mint solution, ERC721A.
This is most noticeable when minting multiple tokens in one transaction—a 10 token mint on ERC721R costs 5x more than on ERC721A. That said, ERC721A has been optimized much further than ERC721R so there is probably room for improvement.
Conclusion
Listed below are your options:
- ERC721A: Minters pay lower gas but must spend time and energy devising and executing a competitive minting strategy or be comfortable with worse minting results.
- ERC721R: Higher gas, but the easy minting strategy of just clicking the button is optimal in all but the most extreme cases. If miners game ERC721R it’s the worst of both worlds: higher gas and a ton of work to compete.
- ERC721A + standard reveal: Low gas, but not verifiably fair. Please do not do this!
- ERC721A + trustless reveal: The best solution if done correctly, highly-challenging for dev, potential for difficult-to-correct errors.
Did I miss something? Comment or tweet me @dumbnamenumbers.
Check out the code on GitHub to learn more! Pull requests are welcome—I'm sure I've missed many gas-saving opportunities.
Thanks!
Read the original post here
Matt Nutsch
3 years ago
Most people are unaware of how artificial intelligence (A.I.) is changing the world.
Recently, I saw an interesting social media post. In an entrepreneurship forum. A blogger asked for help because he/she couldn't find customers. I now suspect that the writer’s occupation is being disrupted by A.I.
Introduction
Artificial Intelligence (A.I.) has been a hot topic since the 1950s. With recent advances in machine learning, A.I. will touch almost every aspect of our lives. This article will discuss A.I. technology and its social and economic implications.
What's AI?
A computer program or machine with A.I. can think and learn. In general, it's a way to make a computer smart. Able to understand and execute complex tasks. Machine learning, NLP, and robotics are common types of A.I.
AI's global impact
AI will change the world, but probably faster than you think. A.I. already affects our daily lives. It improves our decision-making, efficiency, and productivity.
A.I. is transforming our lives and the global economy. It will create new business and job opportunities but eliminate others. Affected workers may face financial hardship.
AI examples:
OpenAI's GPT-3 text-generation
Developers can train, deploy, and manage models on GPT-3. It handles data preparation, model training, deployment, and inference for machine learning workloads. GPT-3 is easy to use for both experienced and new data scientists.
My team conducted an experiment. We needed to generate some blog posts for a website. We hired a blogger on Upwork. OpenAI created a blog post. The A.I.-generated blog post was of higher quality and lower cost.
MidjourneyAI's Art Contests
AI already affects artists. Artists use A.I. to create realistic 3D images and videos for digital art. A.I. is also used to generate new art ideas and methods.
MidjourneyAI and GigapixelAI won a contest last month. It's AI. created a beautiful piece of art that captured the contest's spirit. AI triumphs. It could open future doors.
After the art contest win, I registered to try out these new image generating A.I.s. In the MidjourneyAI chat forum, I noticed an artist's plea. The artist begged others to stop flooding RedBubble with AI-generated art.
Shutterstock and Getty Images have halted user uploads. AI-generated images flooded online marketplaces.
Imagining Videos with Meta
Meta released Make-a-Video this week. It's an A.I. app that creates videos from text. What you type creates a video.
This technology will impact TV, movies, and video games greatly. Imagine a movie or game that's personalized to your tastes. It's closer than you think.
Uses and Abuses of Deepfakes
Deepfake videos are computer-generated images of people. AI creates realistic images and videos of people.
Deepfakes are entertaining but have social implications. Porn introduced deepfakes in 2017. People put famous faces on porn actors and actresses without permission.
Soon, deepfakes were used to show dead actors/actresses or make them look younger. Carrie Fischer was included in films after her death using deepfake technology.
Deepfakes can be used to create fake news or manipulate public opinion, according to an AI.
Voices for Darth Vader and Iceman
James Earl Jones, who voiced Darth Vader, sold his voice rights this week. Aged actor won't be in those movies. Respeecher will use AI to mimic Jones's voice. This technology could change the entertainment industry. One actor can now voice many characters.
AI can generate realistic voice audio from text. Top Gun 2 actor Val Kilmer can't speak for medical reasons. Sonantic created Kilmer's voice from the movie script. This entertaining technology has social implications. It blurs authentic recordings and fake media.
Medical A.I. fights viruses
A team of Chinese scientists used machine learning to predict effective antiviral drugs last year. They started with a large dataset of virus-drug interactions. Researchers combined that with medication and virus information. Finally, they used machine learning to predict effective anti-virus medicines. This technology could solve medical problems.
AI ideas AI-generated Itself
OpenAI's GPT-3 predicted future A.I. uses. Here's what it told me:
AI will affect the economy. Businesses can operate more efficiently and reinvest resources with A.I.-enabled automation. AI can automate customer service tasks, reducing costs and improving satisfaction.
A.I. makes better pricing, inventory, and marketing decisions. AI automates tasks and makes decisions. A.I.-powered robots could help the elderly or disabled. Self-driving cars could reduce accidents.
A.I. predictive analytics can predict stock market or consumer behavior trends and patterns. A.I. also personalizes recommendations. sways. A.I. recommends products and movies. AI can generate new ideas based on data analysis.
Conclusion
A.I. will change business as it becomes more common. It will change how we live and work by creating growth and prosperity.
Exciting times, but also one which should give us all pause. Technology can be good or evil. We must use new technologies ethically, fairly, and honestly.
“The author generated some sentences in this text in part with GPT-3, OpenAI’s large-scale language-generation model. Upon generating draft language, the author reviewed, edited, and revised the language to their own liking and takes ultimate responsibility for the content of this publication. The text of this post was further edited using HemingWayApp. Many of the images used were generated using A.I. as described in the captions.”
You might also like

Tim Denning
3 years ago
I gave up climbing the corporate ladder once I realized how deeply unhappy everyone at the top was.
Restructuring and layoffs cause career reevaluation. Your career can benefit.
Once you become institutionalized, the corporate ladder is all you know.
You're bubbled. Extremists term it the corporate Matrix. I'm not so severe because the business world brainwashed me, too.
This boosted my corporate career.
Until I hit bottom.
15 months later, I view my corporate life differently. You may wish to advance professionally. Read this before you do.
Your happiness in the workplace may be deceptive.
I've been fortunate to spend time with corporate aces.
Working for 2.5 years in banking social media gave me some of these experiences. Earlier in my career, I recorded interviews with business leaders.
These people have titles like Chief General Manager and Head Of. New titles brought life-changing salaries.
They seemed happy.
I’d pass them in the hallway and they’d smile or shake my hand. I dreamt of having their life.
The ominous pattern
Unfiltered talks with some of them revealed a different world.
They acted well. They were skilled at smiling and saying the correct things. All had the same dark pattern, though.
Something felt off.
I found my conversations with them were generally for their benefit. They hoped my online antics as a writer/coach would shed light on their dilemma.
They'd tell me they wanted more. When you're one position away from CEO, it's hard not to wonder if this next move will matter.
What really displeased corporate ladder chasers
Before ascending further, consider these.
Zero autonomy
As you rise in a company, your days get busier.
Many people and initiatives need supervision. Everyone expects you to know business details. Weak when you don't. A poor leader is fired during the next restructuring and left to pursue their corporate ambition.
Full calendars leave no time for reflection. You can't have a coffee with a friend or waste a day.
You’re always on call. It’s a roll call kinda life.
Unable to express oneself freely
My 8 years of LinkedIn writing helped me meet these leaders.
I didn't think they'd care. Mistake.
Corporate leaders envied me because they wanted to talk freely again without corporate comms or a PR firm directing them what to say.
They couldn't share their flaws or inspiring experiences.
They wanted to.
Every day they were muzzled eroded by their business dream.
Limited family time
Top leaders had families.
They've climbed the corporate ladder. Nothing excellent happens overnight.
Corporate dreamers rarely saw their families.
Late meetings, customer functions, expos, training, leadership days, team days, town halls, and product demos regularly occurred after work.
Or they had to travel interstate or internationally for work events. They used bags and motel showers.
Initially, they said business class flights and hotels were nice. They'd get bored. 5-star hotels become monotonous.
No hotel beats home.
One leader said he hadn't seen his daughter much. They used to Facetime, but now that he's been gone so long, she rarely wants to talk to him.
So they iPad-parented.
You're miserable without your family.
Held captive by other job titles
Going up the business ladder seems like a battle.
Leaders compete for business gains and corporate advancement.
I saw shocking filthy tricks. Leaders would lie to seem nice.
Captives included top officials.
A different section every week. If they ran technology, the Head of Sales would argue their CRM cost millions. Or an Operations chief would battle a product team over support requests.
After one conflict, another began.
Corporate echelons are antagonistic. Huge pay and bonuses guarantee bad behavior.
Overly centered on revenue
As you rise, revenue becomes more prevalent. Most days, you'd believe revenue was everything. Here’s the problem…
Numbers drain us.
Unless you're a closet math nerd, contemplating and talking about numbers drains your creativity.
Revenue will never substitute impact.
Incapable of taking risks
Corporate success requires taking fewer risks.
Risks can cause dismissal. Risks can interrupt business. Keep things moving so you may keep getting paid your enormous salary and bonus.
Restructuring or layoffs are inevitable. All corporate climbers experience it.
On this fateful day, a small few realize the game they’ve been trapped in and escape. Most return to play for a new company, but it takes time.
Addiction keeps them trapped. You know nothing else. The rest is strange.
You start to think “I’m getting old” or “it’s nearly retirement.” So you settle yet again for the trappings of the corporate ladder game to nowhere.
Should you climb the corporate ladder?
Let me end on a surprising note.
Young people should ascend the corporate ladder. It teaches you business skills and helps support your side gig and (potential) online business.
Don't get trapped, shackled, or muzzled.
Your ideas and creativity become stifled after too much gaming play.
Corporate success won't bring happiness.
Find fulfilling employment that matters. That's it.

Johnny Harris
3 years ago
The REAL Reason Putin is Invading Ukraine [video with transcript]
Transcript:
[Reporter] The Russian invasion of Ukraine.
Momentum is building for a war between Ukraine and Russia.
[Reporter] Tensions between Russia and the West
are growing rapidly.
[Reporter] President Biden considering deploying
thousands of troops to Eastern Europe.
There are now 100,000 troops
on the Eastern border of Ukraine.
Russia is setting up field hospitals on this border.
Like this is what preparation for war looks like.
A legitimate war.
Ukrainian troops are watching and waiting,
saying they are preparing for a fight.
The U.S. has ordered the families of embassy staff
to leave Ukraine.
Britain has sent all of their nonessential staff home.
And now the U.S. is sending tons of weapons and munitions
to Ukraine's army.
And we're even considering deploying
our own troops to the region.
I mean, this thing is heating up.
Meanwhile, Russia and the West have been in Geneva
and Brussels trying to talk it out,
and sort of getting nowhere.
The message is very clear.
Should Russia take further aggressive actions
against Ukraine the costs will be severe
and the consequences serious.
It's a scary, grim momentum that is unpredictable.
And the chances of miscalculation
and escalation are growing.
I want to explain what's going on here,
but I want to show you that this isn't just
typical geopolitical behavior.
Stuff that can just be explained on the map.
Instead, to understand why 100,000 troops are camped out
on Ukraine's Eastern border, ready for war,
you have to understand Russia
and how it's been cut down over the ages
from the Slavic empire that dominated this whole region
to then the Soviet Union,
which was defeated in the nineties.
And what you really have to understand here
is how that history is transposed
onto the brain of one man.
This guy, Vladimir Putin.
This is a story about regional domination
and struggles between big powers,
but really it's the story about
what Vladimir Putin really wants.
[Reporter] Russian troops moving swiftly
to take control of military bases in Crimea.
[Reporter] Russia has amassed more than 100,000 troops
and a lot of military hardware
at the border with Ukraine.
Let's dive back in.
Okay. Let's get up to speed on what's happening here.
And I'm just going to quickly give you the highlight version
of like the news that's happening,
because I want to get into the juicy part,
which is like why, the roots of all of this.
So let's go.
A few months ago, Russia started sending
more and more troops to this border.
It's this massive border between Ukraine and Russia.
They said they were doing a military exercise,
but the rest of the world was like,
"Yeah, we totally believe you Russia. Pshaw."
This was right before this big meeting
where North American and European countries
were coming together to talk about a lot
of different things, like these countries often do
in these diplomatic summits.
But soon, because of Russia's aggressive behavior
coming in and setting up 100,000 troops
on the border with Ukraine,
the entire summit turned into a whole, "WTF Russia,
what are you doing on the border of Ukraine," meeting.
Before the meeting Putin comes out and says,
"Listen, I have some demands for the West."
And everyone's like, "Okay, Russia, what are your demands?
You know, we have like, COVID19 right now.
And like, that's like surging.
So like, we don't need your like,
bluster about what your demands are."
And Putin's like, "No, here's my list of demands."
Putin's demands for the summit were this:
number one, that NATO, which is this big military alliance
between U.S., Canada, and Europe stop expanding,
meaning they don't let any new members in, okay.
So, Russia is like, "No more new members to your, like,
cool military club that I don't like.
You can't have any more members."
Number two, that NATO withdraw all of their troops
from anywhere in Eastern Europe.
Basically Putin is saying,
"I can veto any military cooperation
or troops going between countries
that have to do with Eastern Europe,
the place that used to be the Soviet Union."
Okay, and number three, Putin demands that America vow
not to protect its allies in Eastern Europe
with nuclear weapons.
"LOL," said all of the other countries,
"You're literally nuts, Vladimir Putin.
Like these are the most ridiculous demands, ever."
But there he is, Putin, with these demands.
These very, very aggressive demands.
And he sort of is implying that if his demands aren't met,
he's going to invade Ukraine.
I mean, it doesn't work like this.
This is not how international relations work.
You don't just show up and say like,
"I'm not gonna allow other countries to join your alliance
because it makes me feel uncomfortable."
But what I love about this list of demands
from Vladimir Putin for this summit
is that it gives us a clue
on what Vladimir Putin really wants.
What he's after here.
You read them closely and you can grasp his intentions.
But to grasp those intentions
you have to understand what NATO is.
and what Russia and Ukraine used to be.
(dramatic music)
Okay, so a while back I made this video
about why Russia is so damn big,
where I explain how modern day Russia started here in Kiev,
which is actually modern day Ukraine.
In other words, modern day Russia, as we know it,
has its original roots in Ukraine.
These places grew up together
and they eventually became a part
of the same mega empire called the Soviet Union.
They were deeply intertwined,
not just in their history and their culture,
but also in their economy and their politics.
So it's after World War II,
it's like the '50s, '60s, '70s, and NATO was formed,
the North Atlantic Treaty Organization.
This was a military alliance between all of these countries,
that was meant to sort of deter the Soviet Union
from expanding and taking over the world.
But as we all know, the Soviet Union,
which was Russia and all of these other countries,
collapsed in 1991.
And all of these Soviet republics,
including Ukraine, became independent,
meaning they were not now a part
of one big block of countries anymore.
But just because the border's all split up,
it doesn't mean that these cultural ties actually broke.
Like for example, the Soviet leader at the time
of the collapse of the Soviet Union, this guy, Gorbachev,
he was the son of a Ukrainian mother and a Russian father.
Like he grew up with his mother singing him
Ukrainian folk songs.
In his mind, Ukraine and Russia were like one thing.
So there was a major reluctance to accept Ukraine
as a separate thing from Russia.
In so many ways, they are one.
There was another Russian at the time
who did not accept this new division.
This young intelligence officer, Vladimir Putin,
who was starting to rise up in the ranks
of postSoviet Russia.
There's this amazing quote from 2005
where Putin is giving this stateoftheunionlike address,
where Putin declares the collapse of the Soviet Union,
quote, "The greatest catastrophe of the 20th century.
And as for the Russian people, it became a genuine tragedy.
Tens of millions of fellow citizens and countrymen
found themselves beyond the fringes of Russian territory."
Do you see how he frames this?
The Soviet Union were all one people in his mind.
And after it collapsed, all of these people
who are a part of the motherland were now outside
of the fringes or the boundaries of Russian territory.
First off, fact check.
Greatest catastrophe of the 20th century?
Like, do you remember what else happened
in the 20th century, Vladimir?
(ominous music)
Putin's worry about the collapse of this one people
starts to get way worse when the West, his enemy,
starts showing up to his neighborhood
to all these exSoviet countries that are now independent.
The West starts selling their ideology
of democracy and capitalism and inviting them
to join their military alliance called NATO.
And guess what?
These countries are totally buying it.
All these exSoviet countries are now joining NATO.
And some of them, the EU.
And Putin is hating this.
He's like not only did the Soviet Union divide
and all of these people are now outside
of the Russia motherland,
but now they're being persuaded by the West
to join their military alliance.
This is terrible news.
Over the years, this continues to happen,
while Putin himself starts to chip away
at Russian institutions, making them weaker and weaker.
He's silencing his rivals
and he's consolidating power in himself.
(triumphant music)
And in the past few years,
he's effectively silenced anyone who can challenge him;
any institution, any court,
or any political rival have all been silenced.
It's been decades since the Soviet Union fell,
but as Putin gains more power,
he still sees the region through the lens
of the old Cold War, Soviet, Slavic empire view.
He sees this region as one big block
that has been torn apart by outside forces.
"The greatest catastrophe of the 20th century."
And the worst situation of all of these,
according to Putin, is Ukraine,
which was like the gem of the Soviet Union.
There was tons of cultural heritage.
Again, Russia sort of started in Ukraine,
not to mention it was a very populous
and industrious, resourcerich place.
And over the years Ukraine has been drifting west.
It hasn't joined NATO yet, but more and more,
it's been electing proWestern presidents.
It's been flirting with membership in NATO.
It's becoming less and less attached
to the Russian heritage that Putin so adores.
And more than half of Ukrainians say
that they'd be down to join the EU.
64% of them say that it would be cool joining NATO.
But Putin can't handle this. He is in total denial.
Like an exboyfriend who handle his exgirlfriend
starting to date someone else,
Putin can't let Ukraine go.
He won't let go.
So for the past decade,
he's been trying to keep the West out
and bring Ukraine back into the motherland of Russia.
This usually takes the form of Putin sending
secret soldiers from Russia into Ukraine
to help the people in Ukraine who want to like separate
from Ukraine and join Russia.
It also takes the form of, oh yeah,
stealing entire parts of Ukraine for Russia.
Russian troops moving swiftly to take control
of military bases in Crimea.
Like in 2014, Putin just did this.
To what America is officially calling
a Russian invasion of Ukraine.
He went down and just snatched this bit of Ukraine
and folded it into Russia.
So you're starting to see what's going on here.
Putin's life's work is to salvage what he calls
the greatest catastrophe of the 20th century,
the division and the separation
of the Soviet republics from Russia.
So let's get to present day. It's 2022.
Putin is at it again.
And honestly, if you really want to understand
the mind of Vladimir Putin and his whole view on this,
you have to read this.
"On the History of Unity of Russians and Ukrainians,"
by Vladimir Putin.
A blog post that kind of sounds
like a ninth grade history essay.
In this essay, Vladimir Putin argues
that Russia and Ukraine are one people.
He calls them essentially the same historical
and spiritual space.
Kind of beautiful writing, honestly.
Anyway, he argues that the division
between the two countries is due to quote,
"a deliberate effort by those forces
that have always sought to undermine our unity."
And that the formula they use, these outside forces,
is a classic one: divide and rule.
And then he launches into this super indepth,
like 10page argument, as to every single historical beat
of Ukraine and Russia's history
to make this argument that like,
this is one people and the division is totally because
of outside powers, i.e. the West.
Okay, but listen, there's this moment
at the end of the post,
that actually kind of hit me in a big way.
He says this, "Just have a look at Austria and Germany,
or the U.S. and Canada, how they live next to each other.
Close in ethnic composition, culture,
and in fact, sharing one language,
they remain sovereign states with their own interests,
with their own foreign policy.
But this does not prevent them
from the closest integration or allied relations.
They have very conditional, transparent borders.
And when crossing them citizens feel at home.
They create families, study, work, do business.
Incidentally, so do millions of those born in Ukraine
who now live in Russia.
We see them as our own close people."
I mean, listen, like,
I'm not in support of what Putin is doing,
but like that, it's like a pretty solid like analogy.
If China suddenly showed up and started like
coaxing Canada into being a part of its alliance,
I would be a little bit like, "What's going on here?"
That's what Putin feels.
And so I kind of get what he means there.
There's a deep heritage and connection between these people.
And he's seen that falter and dissolve
and he doesn't like it.
He clearly genuinely feels a brotherhood
and this deep heritage connection
with the people of Ukraine.
Okay, okay, okay, okay. Putin, I get it.
Your essay is compelling there at the end.
You're clearly very smart and wellread.
But this does not justify what you've been up to. Okay?
It doesn't justify sending 100,000 troops to the border
or sending cyber soldiers to sabotage
the Ukrainian government, or annexing territory,
fueling a conflict that has killed
tens of thousands of people in Eastern Ukraine.
No. Okay.
No matter how much affection you feel for Ukrainian heritage
and its connection to Russia, this is not okay.
Again, it's like the boyfriend
who genuinely loves his girlfriend.
They had a great relationship,
but they broke up and she's free to see whomever she wants.
But Putin is not ready to let go.
[Man In Blue Shirt] What the hell's wrong with you?
I love you, Jessica.
What the hell is wrong with you?
Dude, don't fucking touch me.
I love you. Worldstar!
What is wrong with you? Just stop!
Putin has constructed his own reality here.
One in which Ukraine is actually being controlled
by shadowy Western forces
who are holding the people of Ukraine hostage.
And if that he invades, it will be a swift victory
because Ukrainians will accept him with open arms.
The great liberator.
(triumphant music)
Like, this guy's a total romantic.
He's a history buff and a romantic.
And he has a hill to die on here.
And it is liberating the people
who have been taken from the Russian motherland.
Kind of like the abusive boyfriend, who's like,
"She actually really loves me,
but it's her annoying friends
who were planting all these ideas in her head.
That's why she broke up with me."
And it's like, "No, dude, she's over you."
[Man In Blue Shirt] What the hell is wrong with you?
I love you, Jessica.
I mean, maybe this video should be called
Putin is just like your abusive exboyfriend.
[Man In Blue Shirt] What the hell is wrong with you?
I love you, Jessica!
Worldstar! What's wrong with you?
Okay. So where does this leave us?
It's 2022, Putin is showing up to these meetings in Europe
to tell them where he stands.
He says, "NATO, you cannot expand anymore. No new members.
And you need to withdraw all your troops
from Eastern Europe, my neighborhood."
He knows these demands will never be accepted
because they're ludicrous.
But what he's doing is showing a false effort to say,
"Well, we tried to negotiate with the West,
but they didn't want to."
Hence giving a little bit more justification
to a Russian invasion.
So will Russia invade? Is there war coming?
Maybe; it's impossible to know
because it's all inside of the head of this guy.
But, if I were to make the best argument
that war is not coming tomorrow,
I would look at a few things.
Number one, war in Ukraine would be incredibly costly
for Vladimir Putin.
Russia has a far superior army to Ukraine's,
but still, Ukraine has a very good army
that is supported by the West
and would give Putin a pretty bad bloody nose
in any invasion.
Controlling territory in Ukraine would be very hard.
Ukraine is a giant country.
They would fight back and it would be very hard
to actually conquer and take over territory.
Another major point here is that if Russia invades Ukraine,
this gives NATO new purpose.
If you remember, NATO was created because of the Cold War,
because the Soviet Union was big and nuclear powered.
Once the Soviet Union fell,
NATO sort of has been looking for a new purpose
over the past couple of decades.
If Russia invades Ukraine,
NATO suddenly has a brand new purpose to unite
and to invest in becoming more powerful than ever.
Putin knows that.
And it would be very bad news for him if that happened.
But most importantly, perhaps the easiest clue
for me to believe that war isn't coming tomorrow
is the Russian propaganda machine
is not preparing the Russian people for an invasion.
In 2014, when Russia was about to invade
and take over Crimea, this part of Ukraine,
there was a barrage of state propaganda
that prepared the Russian people
that this was a justified attack.
So when it happened, it wasn't a surprise
and it felt very normal.
That isn't happening right now in Russia.
At least for now. It may start happening tomorrow.
But for now, I think Putin is showing up to the border,
flexing his muscles and showing the West that he is earnest.
I'm not sure that he's going to invade tomorrow,
but he very well could.
I mean, read the guy's blog post
and you'll realize that he is a romantic about this.
He is incredibly idealistic about the glory days
of the Slavic empires, and he wants to get it back.
So there is dangerous momentum towards war.
And the way war works is even a small little, like, fight,
can turn into the other guy
doing something bigger and crazier.
And then the other person has to respond
with something a little bit bigger.
That's called escalation.
And there's not really a ceiling
to how much that momentum can spin out of control.
That is why it's so scary when two nuclear countries
go to war with each other,
because there's kind of no ceiling.
So yeah, it's dangerous. This is scary.
I'm not sure what happens next here,
but the best we can do is keep an eye on this.
At least for now, we better understand
what Putin really wants out of all of this.
Thanks for watching.

Nicolas Tresegnie
3 years ago
Launching 10 SaaS applications in 100 days
Apocodes helps entrepreneurs create SaaS products without writing code. This post introduces micro-SaaS and outlines its basic strategy.
Strategy
Vision and strategy differ when starting a startup.
The company's long-term future state is outlined in the vision. It establishes the overarching objectives the organization aims to achieve while also justifying its existence. The company's future is outlined in the vision.
The strategy consists of a collection of short- to mid-term objectives, the accomplishment of which will move the business closer to its vision. The company gets there through its strategy.
The vision should be stable, but the strategy must be adjusted based on customer input, market conditions, or previous experiments.
Begin modestly and aim high.
Be truthful. It's impossible to automate SaaS product creation from scratch. It's like climbing Everest without running a 5K. Physical rules don't prohibit it, but it would be suicide.
Apocodes 5K equivalent? Two options:
(A) Create a feature that includes every setting option conceivable. then query potential clients “Would you choose us to build your SaaS solution if we offered 99 additional features of the same caliber?” After that, decide which major feature to implement next.
(B) Build a few straightforward features with just one or two configuration options. Then query potential clients “Will this suffice to make your product?” What's missing if not? Finally, tweak the final result a bit before starting over.
(A) is an all-or-nothing approach. It's like training your left arm to climb Mount Everest. My right foot is next.
(B) is a better method because it's iterative and provides value to customers throughout.
Focus on a small market sector, meet its needs, and expand gradually. Micro-SaaS is Apocode's first market.
What is micro-SaaS.
Micro-SaaS enterprises have these characteristics:
A limited range: They address a specific problem with a small number of features.
A small group of one to five individuals.
Low external funding: The majority of micro-SaaS companies have Total Addressable Markets (TAM) under $100 million. Investors find them unattractive as a result. As a result, the majority of micro-SaaS companies are self-funded or bootstrapped.
Low competition: Because they solve problems that larger firms would rather not spend time on, micro-SaaS enterprises have little rivalry.
Low upkeep: Because of their simplicity, they require little care.
Huge profitability: Because providing more clients incurs such a small incremental cost, high profit margins are possible.
Micro-SaaS enterprises created with no-code are Apocode's ideal first market niche.
We'll create our own micro-SaaS solutions to better understand their needs. Although not required, we believe this will improve community discussions.
The challenge
In 100 days (September 12–December 20, 2022), we plan to build 10 micro-SaaS enterprises using Apocode.
They will be:
Self-serve: Customers will be able to use the entire product experience without our manual assistance.
Real: They'll deal with actual issues. They won't be isolated proofs of concept because we'll keep up with them after the challenge.
Both free and paid options: including a free plan and a free trial period. Although financial success would be a good result, the challenge's stated objective is not financial success.
This will let us design Apocodes features, showcase them, and talk to customers.
(Edit: The first micro-SaaS was launched!)
Follow along
If you want to follow the story of Apocode or our progress in this challenge, you can subscribe here.
If you are interested in using Apocode, sign up here.
If you want to provide feedback, discuss the idea further or get involved, email me at nicolas.tresegnie@gmail.com
