In short
Ben McKenzie discusses why crypto fails as “trustless” money, arguing it’s fundamentally a scam driven by speculation and fraud; he also explains why crypto adoption persists despite repeated scandals. The episode then pivots to V Song’s 18-month experience testing continuous glucose monitors (CGMs), focusing on how mainstream wellness use is expanding beyond diabetes and how the data can become psychologically and behaviorally addictive.
Guests (backgrounds)
- Ben McKenzie: Actor known for The O.C. (Ryan Atwood) and Southland; author/director of the documentary Everyone Is Lying to You for Money about crypto’s rise and collapse.
- V Song: The Verge senior reviewer; tested CGMs for 18 months, reporting on mainstreaming, health claims, and personal effects.
Key claims (Ben)
- Money is trust; crypto replaces human trust with code, which he says is a fallacy because code is written by people.
- Bitcoin’s throughput is limited (about 5–7 tx/sec), and other chains face hacks/technical issues.
- Crypto’s “money” use is weak; El Salvador’s Bitcoin experiment failed (remittances share fell to ~1% and merchants wouldn’t accept Bitcoin).
- Crypto is largely zero-sum gambling and crime; he cites estimates of ~$150B in illegal activity facilitated by crypto.
- Crypto manias persist via manipulation and political embrace (he points to Trump’s shift toward Bitcoin).
Notable examples (Ben)
Alex Mashinsky/Celsius fraud; FTX/Alameda alleged code manipulation; El Salvador’s Bitcoin rollout; “Trump coin” and other political/celebrity coins; North Korean hackers and sanctioned oil transfers via crypto.
Key claims (V Song)
- CGMs are now FDA-cleared for over-the-counter use (2024), fueling metabolism-optimization/wearable longevity culture.
- Wellness claims (e.g., “reversing diabetes,” preventing broad diseases) are presented as shaky; glucose spikes are linked to inflammation narratives.
- Non-diabetic CGM use can trigger obsessive data review and disordered eating behaviors.
Notable examples (V Song)
Her 2023 NutriSense experience (Abbott-based) and later OTC Dexcom Stelo and Abbott Lingo testing; “dawn phenomenon” concerns; normal blood glucose labs but ultrasound-confirmed mild fatty liver disease; device differences (scores/alerts) leading to anxiety and restrictive eating; side-sleeping and interstitial-fluid effects complicating readings.
Written by AI. May contain mistakes. Listen to the episode to check what was said.
Chapters
Tap a time to open that second in VOBen McKenzie's Journey into Crypto
2:14 to 3:22
David discusses the background and documentary of Ben McKenzie regarding crypto.
“So a few years ago, Ben McKenzie, who you might know as an actor, he was Ryan in the OC.”
The Nature of Money and Crypto
3:26 to 6:10
Ben elaborates on the concept of money and its relationship with crypto.
“We're going to talk about crypto and our feelings, which is, I would say, fundamentally what your documentary is about.”
El Salvador's Bitcoin Experiment
6:14 to 10:09
Ben shares his experience in El Salvador regarding Bitcoin's practical use.
“Um, the majority of the Bitcoin that are mined today are mined by multi-billion dollar, uh, corporations, many of which are publicly traded.”
Failures of the Financial System and Crypto Culture
10:11 to 13:58
Ben discusses the failures of the financial system and the culture within the crypto community.
“Yeah, the story works because it's super simple.”
Exploring the Crypto Community
14:04 to 17:34
Discussion about the unique characteristics and demographics of crypto enthusiasts.
“And it is this very specific group of people in a way that like, I've spent a lot of time in my life around finance people.”
Crypto as a Get Rich Quick Scheme
17:34 to 19:35
An analysis of crypto's appeal as a quick wealth generation method and systemic failures.
“And I think we've spent a lot of time recently on this show and us were talking about prediction markets and the rise of sports betting and this idea of just everything is gambling now.”
The Nature of Crypto: Gambling and Crime
19:35 to 22:48
Discussion on how crypto functions as a medium for gambling and crime rather than productive investment.
“I mean, look, I'm going to defend all of Wall Street or all of the financial industry because there's obviously a ton of grifters there too.”
The Persistence of Crypto Value
22:48 to 25:41
Exploration of why crypto continues to hold value despite scandals and skepticism.
“I mean, but like, you know, in the doc, one of the numbers you say is 40K.”
Understanding Continuous Glucose Monitors (CGMs)
29:25 to 30:20
Discussion on what CGMs are and their relevance beyond diabetics.
“So CGM is something called a continuous glucose monitor.”
Mainstreaming of CGMs and Their Implications
30:20 to 31:29
Exploring the increasing relevance of CGMs in health and wellness.
“Why have CGMs suddenly sort of mainstreamed in a new way?”
Show all 28 chapters
Government's Role in Wearable Technology Promotion
31:29 to 34:19
Discussion of governmental influence on the adoption of wearables like CGMs.
“who have people who have type 2 diabetes, who are not reliant on insulin, these CGMs function a bit differently.”
The Metabolism Optimization Trend
34:19 to 36:17
Examining the pitch for CGMs in the context of metabolism optimization.
“In that particular clip we played, he did say you can take responsibility and see what food is doing to their glucose levels.”
Personal Experience with CGMs: A Journey
36:17 to 40:08
Discussion on the speaker's personal experience using CGMs and their effects.
“But just to translate all of that to actual humans and to get into your story a little bit here.”
The Differences in CGM Experience Over Time
40:08 to 42:04
Reflecting on the changes in CGM experiences from 2023 to 2024.
“A little bit of all of it, just because my first experience using CGMs on myself was actually in 2023.”
Personal Journey with Continuous Glucose Monitors
42:04 to 45:21
The speaker discusses their experience using continuous glucose monitors and the surprises that arose during testing.
“I ate like crap during this entire, not like crap, but I wasn't as locked in or dialed in during that testing period.”
Data Fatigue and Experimentation with Diet
45:21 to 48:38
Exploring the challenges of interpreting glucose data and the obsessiveness of tracking dietary impacts on health.
“collection turns sort of pernicious and addictive in a way that is really problematic.”
The Psychological Impact of Health Monitoring
48:38 to 52:04
The speaker reflects on the psychological toll of health monitoring and its relation to disordered eating behaviors.
“differed in terms of what my glucose response to it was.”
Seeking Medical Guidance and Insights
52:04 to 56:00
The interaction with doctors regarding health data and the struggle between personal efforts and medical realities.
“And if you don't like notice it, if you don't flag it, that can turn into something a lot more dangerous very quickly.”
Personal Health Journey: Medications and Side Effects
56:00 to 57:00
Explore the speaker's experience with medications affecting health and fitness.
“And now that I'm on these medications, which for me have come with severe side effects, I have all these wearables telling me, hey, girl, I want you to know that your cardio fitness is below average.”
Wearable Tech: Optimizing Life or Adding Stress?
57:00 to 59:00
Discussion on the effectiveness and implications of wearable health technology.
“Running is such a huge part of my life and I have no energy to run at this point in time.”
The Debate on CGMs and Health Data Collection
59:00 to 1:02:00
An in-depth look at Continuous Glucose Monitors and the ethics of health data.
“And this is actually something that's being debated in Washington at this point in time.”
Navigating Health Tech: Opportunities and Risks
1:02:00 to 1:04:20
A conversation on the balance between health benefits and potential downsides of tech.
“marketing this widespread just because in the same way that GLPs have been marketed widespread, it makes life harder for us.”
Listener Question: Evolution of Gadget Design
1:05:45 to 1:10:00
An exploration of how gadget designs have changed over the years.
“Let's do a question from the VergeCast Hotline.”
The Evolution of Phone Designs
1:10:00 to 1:10:29
Explore the current state of phone designs and consumer preferences.
“You either have something that looks like an iPhone or something that is an iPhone.”
The Challenge of Changing Established Products
1:10:30 to 1:12:46
Understand the difficulties companies face when altering familiar software and gadgets.
“But again, it's just an uphill battle to convince people that they want that thing, to make software and accessories that support that thing, and to just push outside of the norm becomes harder and harder and harder.”
Manufacturing Challenges in Tech
1:12:47 to 1:14:44
Learn about the complexities and costs involved in creating new tech products.
“it's just something that works and we get comfortable with it, changing that thing becomes very, very hard.”
The Need for Breakthrough Technology
1:14:45 to 1:16:47
Discover why innovation often stagnates without new technological breakthroughs.
“maybe drop in a new part here and there.”
Engagement and Feedback in Tech
1:16:48 to 1:17:59
Find out how listener engagement can shape future discussions about technology.
“And so there's no forcing function for everybody to say, well, okay, we have to blow up the system anyway.”
Transcript
Automatic transcript. May contain errors.0:02Welcome to The Verge Cast, the flagship podcast of number go up and also down. I'm your friend David Pierce and I am sitting in my backyard on sprinkler duty. So a thing you've probably already guessed about me given my entire deal is that I'm not good at keeping plants alive. I can't remember how tall the grass is supposed to be when you mow it. I don't exactly know which of my plants is which and how often I'm supposed to water any of them. But we had some work done on the backyard this weekend. They put down some sod. They made the backyard bigger. It all looks great. I'm very excited about it.
0:34And the guy gave me a speech where he was like, David, you have to water this thing like you would not believe for the next 10 days. So for the next 10 days, I live out here in the backyard just moving sprinklers around. This is apparently what I do now. Anyway, we have a really fun show coming up. First, we're going to talk to Ben McKenzie, who is an actor and author. and you might know him as Ryan Atwood from The O.C. He just made a documentary called Everyone is Lying to You for Money about kind of his descent into the crypto world and sort of his own descent into madness as a result. It's a really fun documentary with a lot of really interesting reporting and lessons about crypto.
1:09So he came on the show to talk about how he feels about crypto now. Then The Verge's V song is gonna come on and talk about her, I think, 18-month journey testing continuous glucose monitors and actually kind of her own descent into madness. We're doing Descents into Madness here on the Vergecast today, while I sit and descend into madness, moving sprinklers around. We also have a really fun hotline, really fun show today. All of that is coming up in just a second. But first, I'm dead serious. My phone reminder just went off, and I have to go move the sprinkler. This is the Vergecast. We'll be right back.
1:39Support for the show comes from MongoDB. If you're a developer stuck fixing bottlenecks, instead of building the next big thing, then you need MongoDB.
2:13All right, we're back. So a few years ago, Ben McKenzie, who you might know as an actor, he was Ryan in the OC. He was in Southland. He's been in a Batman show. He's been in movies. He's been in lots of stuff. I'm sure you've seen him before. He became sort of an unlikely voice against crypto in the in the pandemic heat of the crypto craze. Ben was one of those people who would tell anyone who was listening, including television commentators and Congress, why crypto was a scam. I will just lay my own cards on the table. I largely think he's correct about that. I think there is a lot of interesting stuff about crypto that became largely irrelevant because of the way that crypto turned into a bunch of ways for people to make a lot of money.
2:54So I wanted to have Ben on the show to talk about basically his whole experience with crypto and this documentary he made called Everyone is Lying to You for Money. It's out this week. If you can go find a theater that's playing it, it's playing in a bunch of big cities. I think it'll probably get released more widely soon. If you can see it, go see it. But even if you don't, I think you'll enjoy this conversation. I wanted to have him on to talk about what it's been like to be down this rabbit hole for so long and what he's learned about what crypto is and how it got to be like that. I really enjoyed it.
3:23I think you will, too. Let's get into it. Ben McKenzie, welcome to the Vergecast. Thank you. Thank you for being here. We're going to talk about crypto and our feelings, which is, I would say, fundamentally what your documentary is about. but I had this thought at the very beginning of the documentary which I think is where I want to start where you sort of as a joke start like all the way back with the origin of money and the very first thought I had like 10 seconds into the documentary is like are we sure the story of crypto is actually a story about money and so this is this is my first question to you is the story of crypto actually a story about money that is a great question I I'm afraid the answer is both yes and no in the sense that all money's made up right we just like it's just a social construct like government or religion and we've used there's a very brief like uh graphic sequence after the the initial sort of playful misdirection where we briefly show you many many images of different monies that have existed in the past like feathers or you know uh whale's teeth or whatever um and so all money's made up right um but what is money It's trust.
4:32It's a way of running an economy so that, for example, if I give you a dollar bill, you take it from me, not because you trust me, but because you trust that you can use it because it works. And that's, I think, where crypto falls apart. Crypto says we don't need human trust. We can replace that with computer code. um you know we can create this trustless system uh and and avoid all that pesky you know human interaction and human uh uh uh human relationships but that's of course nonsense right because if if money is trust and you're saying it's a trustless currency then you're saying uh it's like a government-less government or religion-less religion the words you're searching for are anarchy cult um it just fundamentally doesn't make sense and it the other answer in terms of like could it be money is also effectively no but it's because uh the technology sucks uh bitcoin can only do five to seven transactions a second uh these can do 24 000 so even sam bank mitfried when i interviewed him said you know yes it doesn't it doesn't work but don't worry it will in the future it will in the future so uh so bitcoin can't do that other cryptocurrencies Other blockchains are faster, but also suffer from hacks and from fundamental technological issues because the technology behind crypto sucks and is old.
6:02But even more fundamentally, if money doesn't come from the government, it has to come from somewhere else. And so where does it come from with crypto? They don't like to talk about this, but the answer is corporations. It's World Liberty Financial in the case of Trump coin. It's even Bitcoin. Um, the majority of the Bitcoin that are mined today are mined by multi-billion dollar, uh, corporations, many of which are publicly traded. Um, so if corporate money seems like a good idea to you, then you should go for crypto. Right. So but this idea of like it might work, but it doesn't yet is sort of a running theme of crypto throughout the whole story.
6:39And is I think part of the reason I like the doc is because I spent a lot of my time covering crypto wrestling with the same thing that I think you're wrestling with, which is that there is something at the beginning of the pitch for crypto that is really compelling. that is like, we can agree on a bunch of things, right? That our current financial system sucks and doesn't benefit everybody equally. That there are sending money across borders, which is one of the things you hear about in crypto all the time. Everybody will always tell you that, oh, it's really expensive to send stuff through Western Union.
7:09Wouldn't it be great if you could just do it with crypto for free? Like, theoretically, yes. Do you have a sort of moment where that tipped for you to being like, okay, I've heard your pitch. It doesn't hold with the thing that you're building on the other side of it. I mean, it's hard to single out one single moment. It was like a series of revelations to me because I approached it with good faith in the sense of like, look, online in the midst of the pandemic, when I fell down this rabbit hole, I just ended up on the other side as opposed to the people that bought Bitcoin, like my buddy Dave, who tries to convince me to buy it early on.
7:44So I'm just on the other side. So I could be wrong. They could be wrong. I could be wrong. Let's find out. I go out into the real world and immediately I'm meeting guys like Alex Mashensky, who was running this company called Celsius that sure seemed like a fraud. And sure enough, was. And he was arrested and ended up in jail now. And so there were obviously a lot of sketchy players, but that doesn't mean that the fundamental thing couldn't work. Right. There are sketchy players and all sorts of stuff. I would say one real pivotal moment was when I went to El Salvador. It's the only country in the world that was trying to use Bitcoin as real money.
8:16And to your point about sending money overseas and the validity of that argument, El Salvador's economy, the foundation of it is remittances. Millions of Salvadorans who live in this country who send money home, and it's 25 % of the economy. It's really the foundation of the economy. And so they built this Bitcoin system, and it was like, maybe you could just use crypto to send money home and avoid the fees. So if crypto was going to work as money anywhere in the world, it should work in El Salvador. Right. wah wah like i walk through a market i try to pay you know it's a dollarized economy everything's in cash these people have like 400 they make an average about 400 a month in el salvador it's extremely you know uh poor economy relatively speaking and i'm asking these merchants like can i buy you know the the taco and uh or whatever the pupusa and uh and in bitcoin and they look at me like the stupid fucking gringo that i that i am and appear to be uh uh and and it just happens over and over and over again so it was not used as money it never worked as money even the remittance thing didn't work at all it was two percent of remittances when we started recording it's even less now it's less than one percent and the reason is because the system doesn't work very well it's the same thing that plagues crypto more broadly system doesn't work very well um you know the value of a crypto can suddenly collapse you can have trouble getting out of the system and so people would rather spend these people do not have money to gamble with so that was a real revelation to me where it's like because it just so clearly was a narrative that had been constructed for westerners it had been constructed to convince uh crypto holders and potential crypto holders that no there was a future and it was happening in el salvador they were going to build this beautiful bitcoin city in eastern uh el salvador i go there it's not happening it was never going to happen And it's a total grift.
10:08So I'd say that was the moment. Yeah. Yeah, the story works because it's super simple. Our system sucks. Like, everyone raises their hand. And then they say, Bitcoin fixes this. It's just the second part that's the bullshit part. The first part's true. The first part is if crypto serves any function, it's to highlight the myriad failures of a regulated system. And hopefully, it should encourage us to fix that system. Yeah, I mean, the blockchain fixes this is still a meme in tech circles. It is? Oh, yeah. But it's a joke now. Oh, it's a joke. Everybody thinks it's a joke. Almost everybody thinks it's a joke.
10:41But the idea of like any problem you can think of, the blockchain fixes this. Like for two full years, people would just earnestly tell you that. Anything that was wrong with anything, we could just fix with the blockchain. And one of the things I've been trying to figure out about crypto forever is that if you could pull it apart, if it might have gone differently. Right. If you could take out the fact that I think from from pretty early on, it was overrun by people speculating to try and make money, essentially running grifts, real and unintentional. Right. Like there were people doing the scams to make money and telling you that they weren't.
11:17If you could just take all of those people out of it and try to run this process as like an earnest technological advancement, could it have worked? And I think I also still land on no for some of the reasons that you're describing that like there is something at the base level of this technology that makes it not suited to the thing that everybody is saying that it's suited for. But I wonder how you feel about that. Like so much of I think your focus has been on like, I mean, the title of the doc is everybody's lying to you for money, right? What if they weren't like if everyone had been trying their best?
11:47Could could this have gone differently? Or is there something about this thing that we pointed all this energy at that was just never the right thing for it? I would say no, and for a couple of reasons. The first is when they say they can create a trustless money, when they say they can create a money that doesn't need human trust but only relies on computer code, that itself is a lie. Because computer code doesn't fall from the sky. People write computer code. That's how it works. I mean, I guess with AI you could intro a prompt and then the AI writes it, but at least for now. It's a different set of problems and trust issues, yeah.
12:22I is running our money. We're fucked anyway. So let's just be honest with you. But a great example of that point of the fact that code is written by people and therefore it's a fallacy to say that you could just replace people with code is FTX and Sam Bankman-Fried. because the way Sam ran his con, we later learned, was he instructed one of his lieutenants to change the code, the source code inside of FTX, so that his other company, Alameda, could quote-unquote borrow against his customers' assets, steal their money. So it was very simple. It was one line, one line of code, and he stole all the money.
12:58So it's just wrong. It's just incorrect. On the human level, I think this is the problem with private money. You know, money has to be a public good. That's the only way you can scale the trust. all of the problems with our financial system, I think, start with our democratic system, the failures of our democratic system. That's just my own personal point of view, is that the reason we have such a fucked up financial system is that our democracy is really failing us here. Our elected representatives due to, quite frankly, unfettered capitalism and Citizens United and all this stuff are really beholden to the tech oligarchs and the corporate interests and the PACs.
13:34They're more than they are the people. And if we could change that, then we could get back the control and the system would never work perfectly no human systems ever do but it could work much better but until we address that issue you know we're left floundering around in the dark and and because it's so bad it gives certain credence to bitcoin right or to crypto because it's like well the system does suck so might as well try this other thing even though it might in fact is worse the other thing i want to talk about is the sort of culture of crypto and like crypto people that you found because i think like the the what's in it for all the people who made all of the money is actually relatively straightforward and you can feel however you want about all of those people um but you ran into a lot of people who didn't make a lot of money and in many cases lost a lot of money and went through a lot of real hardship because of crypto but still believed in it and you went to bitcoin miami which is now like famously just one of the weirdest places on earth was Bitcoin Miami.
14:36And it is this very specific group of people in a way that like, I've spent a lot of time in my life around finance people. And I've spent a lot of time in my life around tech people. And if you smush those things together, you don't get anything like the crypto community. So like, what do you make of this group of people? What was it about crypto that turned into this sort of bizarre, culty atmosphere? Yeah, I mean, look, again, many different ways to answer the question but one of the things that i found to be true is that crypto is just a get rich quick scheme so it's as old as time and they've changed the the the um the terms and they've created all these terms that sort of in in in real life are the opposite of what they say they are right currencies that aren't currencies stable coins that aren't stable decentralized systems that are actually highly centralized and there's about five or six percent of the population that's really into this stuff if you look at the polling um and then there's about 80 percent of the population has never ever bought crypto and most of those people are very skeptical of it in terms of who the people are i mean it's dudes like it's really really dude a lot of dudes yeah yeah i mean i just can't express how much of a schlong fest it is like it is like we posted on on uh reddit on celsius reddit uh board to try to talk to victims of the celsius scam and all dudes responded like we didn't have to self there wasn't editing it was just all guys and i think that's interesting you know i think that's really interesting to guys are more likely to be gamblers we have a higher risk tolerance as i say um the crypto is really popular was really popular amongst young guys uh 42 percent of guys 18 to 29 have bought used traded cryptocurrency um so almost half yeah at least that was as of a couple years ago i don't know what it is now but um it's a lot.
16:23And that makes sense to me. I mean, I'm a guy, used to be a young guy many, many years ago. And I used to like gambling. And I'm not saying people shouldn't be able to gamble on stuff like crypto. I don't think you can outlaw it. It's not going to work. So I just want investors to be protected. I just want the bad guys not to be making so much money. And if people want to gamble with their money and there's reasonable legislation around it and reasonable constraints, then go for But other than that, I'm really hesitant to stereotype folks even anymore because the truth of the matter is that crypto, because it's just a story, it's just a projection of the hopes and dreams of the 40 million Americans who have purchased cryptocurrency.
17:06So it's as unique as those people are. They have their own reasons for doing it. But it's usually they want to make a little more money. And that's not, yeah, that's greed on some level, but it's also failures of our system to provide them with a better way of making money rather than just gambling on this weird stuff. Right. And that's a that's a pretty abject failure on on on our hearts. Yeah, I mean, it is very funny. Like one of the things I wrote down writing this documentary is, are we sure we're not just all mad at capitalism and the American dream? And I think to some extent, the answer is yes.
17:35Right. And I think we've spent a lot of time recently on this show and us were talking about prediction markets and the rise of sports betting and this idea of just everything is gambling now. And I think that's all right next to the kind of stuff that you're talking about. And I do wonder, I don't know how much time you've spent, you know, on Kalshi and Polymarket and all of this stuff or looking at the rise of DraftKings. But is all of that connected to you, this idea that like what if everything was gambling and none of it was real and just sort of like full YOLO nihilism about money in the world?
18:05Is all of that sort of together for you or do you think there's something different about what crypto is and was? I think there's a lot of overlap. You know, the subtitle of the book that I wrote with Jacob Silverman is Cryptocurrency, Casino Capitalism, and the Golden Age of Fraud. And casino capitalism is this really interesting term that you could sort of go back to like John Maynard Keynes if you wanted to. But it's a notion of like, just because you have money doesn't mean you use money in a way that's either smart for you or productive for society. and gambling is fundamentally a zero-sum enterprise we sit down at a table in vegas and i might win a hand you might win a hand but at the end of the day my wins are coming out of your pocket and vice versa and while we play the game the casino takes the rake they take a small piece of money to that's that's that's that's how they keep the lights on in the casino so could you win a vegas of course but if you play long enough on average you're losing because again how do they keep the lights on in the casino.
19:10And I think there is something, I think this is a broader theme in tech right now, but it is, I think most obvious it has ever been in crypto where there are a bunch of people who tell you a tech story while they are just taking money out on the other side. And I get the sense that that same disconnect drove you crazy the deeper you went down. Everybody's like, let me tell you this story while I am just pulling money out of your pocket. 100%. They're lying to you for money. They are lying to you for money. And what's different about Wall Street. I mean, look, I'm going to defend all of Wall Street or all of the financial industry because there's obviously a ton of grifters there too.
19:41But crypto really is fundamentally, and gambling, is fundamentally different from the stock market because the stock market is a positive sum game. The money that investors invest, buy, pay for stocks goes to the companies, at least some of it, the stock that's issued by the companies. They take that money and they can invest in their companies, they can make more stuff, provide more goods and services, which theoretically benefits us all, right? Rising stock price, more stuff to buy. Everybody wins. Investors win, company wins, society wins. I'm not saying it's perfect. Obviously, there's lots of caveats to that, but that is how it's supposed to work.
20:21That is how it has historically worked overall, right? Crypto can't do any of that because it's not a positive sum game. It's a zero sum at best game, really negative sum game. By the way, the thing that I should mention is like, it's not just the gambling. It's also the crime. There's an enormous amount of crime that's facilitated by cryptocurrency. It's gambling and crime. Those are the only two use cases. So last year, a company issued a report, a crypto company, estimating that I think it was$150 billion of illegal activity was facilitated via cryptocurrency last year in 2025,$150 billion.
21:01That's a lot of effing crime. And that's a crypto company that's making that estimate. So I'm going to say that's possibly on the low end of the estimation, right? It's a lot of crime. It's everything from, I mean, to give you just one example, it's Russian oligarchs selling sanctioned oil to the Chinese via crypto in exchange for drones that they can send to Ukraine. It's North Korean hackers who steal crypto and have funded half of the North Korean nuclear weapons program. It is an astounding level of crime, and the worst people in the world have benefited from this, including Jeffrey Epstein, who, it was revealed in some of the recent files, was a secret funder of Bitcoin development via the MIT Media Lab 2015.
21:54So there's only two things that you're interested in crypto. You're either trying to get rich because you're gambling and whatever. We can argue over that, how much you should be allowed to do that or what the rule should be or whatever. And then there's your criminal. I think it would be a really interesting conversation to have about crypto if some of the good stuff had come true. If what we had done is enable a really interesting cross-border global payments network, then it's like, okay, we'll put that next to some of the bad uses of it. and let's have a conversation about whether this is a net good or not.
22:25I wish that is where it had landed. It would have been a much more robust and interesting conversation about crypto. But ultimately, I do think it landed where you are. It's either a way to gamble your way to make more money, which, again, sure, feel however you want about that, or it is nefarious. And it really, those are the mass dominant use cases. And yet, Ben, and yet the number keeps going up. And this is the thing. Kind of. I mean, but like, you know, in the doc, one of the numbers you say is 40K. Right. And it's higher than that now. It has been much higher than that. Why do you think this thing keeps holding on?
23:04Is it just too big to fail now? There's too much money in it and too many people too invested to let the thing fall apart? Like, if it is all of the things that you say and we've had this series of scandals, why does the number by and large keep going up? Well, look at the history, right? crypto was kind of floundering after all these guys were arrested, after all these trials, all these lawsuits got filed. And then in the spring, summer of 2024, Donald J. Trump, who had as recently as 2021 described Bitcoin as a scam, decided he loved Bitcoin and cryptocurrency. We end the movie on a clip of him talking about this.
23:44He says, you know, have fun with your Bitcoin and your crypto and everything else you're playing with. That's a terrible Trump impression, but like, as he embraced it, people said, hey, if he wins the presidency, he can do a lot to boost crypto. And so they started betting on it. The price went back up. Sure enough, he won. And the price went way up to$120 ,000 for Bitcoin. Now it's in the 60s, right? So it's actually basically back to where it was the last high. It's almost exactly at the top, which is fascinating because if you allowed it to drop a little further, psychologically, there might be a real hell to pay, right?
24:20If it went into 50, people might really panic. But somehow it's just managed to stay in the 60s range for quite a while, which is really interesting, especially in a highly illiquid market controlled by a very small number of whales that hold the vast majority of Bitcoin. But anyway, the reason that these things can last forever is obviously, as I point out, the manipulation of, which is, come on, man, the deepest of all ironies, the supposedly decentralized thing that's fighting back against the government now needs to kiss the ass of the corrupt president of the United States, who's the most powerful man in the world in order to basically carve out their own rules and not have to follow the rules so that they can keep the Ponzi scheme going.
24:58And the vast percentage of the people that invest in those things like Trump coin or Melania coin or, or, or, or come rocket, one of my favorites, um, they're going to lose, right? They're going to lose. Um, it's just how the thing works. Uh, so that's the answer. Uh, The manias can last a really long time. I mean, Robert Schiller was really influential to me, Nobel Prize winning economist, behavioral economist, talks about how these manias can last a very, very long time. And sure enough, they have. I mean, Bernie Madoff ran a Ponzi scheme for decades. So it's just we're weird people. What's the term?
25:29The market can stay irrational longer than you can stay liquid. I think there's a lot of that in crypto right now. Yeah. And the market can stay rational longer than you can remain solid. Solve it. That's yeah. John Maynard Keynes. Yeah. Most, most, he's a great example too, because, you know, brilliant economist was so ahead of his time in terms of understanding the capabilities of economics beyond the sort of artificial constraints that have been imposed by sort of gold bugs and people that want to stick to the gold standard, things like that. But at the same time, was trading, was actively investing and lost many times.
26:06And ultimately, I think was successful, but really sort of the most brilliant guy in the world, that quote comes from experience. He knows even he is able to lose. So that's just the truth of human nature and of economics, which is thought of as this dry mathematical profession study. But it really isn't, in my opinion. It's it's it's or it can be. But it's really about human behavior. And humans are not rational. We do stupid shit all the time. Anyway. All right. Ben McKenzie, congrats on the doc. Thank you so much for being here. This is really fun. Thanks, David. I really enjoyed it. All right.
26:43We got to take a break. And then V song is going to come on and we're going to talk about the truly wild experience she's had with continuous glucose monitors. We'll be right back. Support for Vergecast comes from Granola. Everyone's had one of those meetings before. The internet doesn't work. The presentation has a misspelling in it. You zone out at the most critical part and you're desperately messaging a coworker to see if they can get you up to speed. Granola wants to fix those meetings and meetings in general. Granola is an AI-powered notepad built for the way real people actually meet. You simply take rough notes like you normally would, and in the background, Granola securely transcribes the meeting.
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Read the full transcript
29:11All right, we're back. The Verge's senior reviewer of V song is here. Hi, V. Hi. We have some science to do today. So much science. And some gadgets and some feelings as we want to do here on the Verge cast. But let's start from the very beginning here. What is a CGM?
29:27Victoria Song:So CGM is something called a continuous glucose monitor. It is a small device with a eensy-beensy little needle sticking out of it that you inject into a part of your body. And it reads your glucose levels. And it's important to note that it's not your blood glucose levels. It is your interstitial glucose levels. Interstitial fluid is like this fluid that sits between your cells. and you can kind of read glucose levels from that. Okay. And my sense is until very recently, the answer to the question, what is a CGM? was something you either knew for medical reasons or had no idea about it and had never thought about it and was not relevant to your life at all.
30:09And it seems like this product, this category has taken on a much broader relevance, like really, really recently. What is happening here? Why have CGMs suddenly sort of mainstreamed in a new way?
30:23Victoria Song:Yeah, so previously, if you knew what a CGM was, you likely were a type 1 diabetic or a person who had a type 1 diabetic in your family. It is diabetes tech, so to speak, because you generally wouldn't have a reason to monitor your glucose levels in real time, which is what this technology does, unless you needed to monitor your insulin levels. right now it's kind of hitting the main broad like the mainstream much more broadly because in 2024 the FDA cleared them for over-the-counter use they have to be different from the CGMs that diabetics use because you know type 1 diabetics they can't produce insulin or they produce such little levels of insulin as to be not relevant.
31:19Victoria Song:And so they need that to help monitor their insulin levels. Whereas the ones for non-diabetics, for people who have prediabetes, who have people who have type 2 diabetes, who are not reliant on insulin, these CGMs function a bit differently. So, yeah. And, you know, once you open it to the wider public, you get people who are hopping onto this trend of metabolism optimizing, and that has taken the health world, the wellness world, and the health tech world by storm over the last couple of years. And, you know, I've kind of been saying it because I've seen it creeping up, but it is like the number one frontier, I think, for wearable technology.
32:05So it seems to me that there are sort of two twin things happening here, right? And if I'm doing the timeline correctly, we have 2024, the Biden administration, the FDA clears this thing, like you said, for over-the-counter use. My assumption is not assuming this would become a wellness influencer phenomenon, but here we are. And then on the flip side, you have the Trump administration, which appears to have embraced these things and sort of tried to even further extend the things that they can be for, right? What is the government doing here?
32:36Victoria Song:Okay, so about sometime in the summer, I think June 2025, RFK Jr. basically made this huge statement about how wearable technology is going to be a fundamental pillar of the Maha movement. I remember this. It was about taking control of their health. And in particular, within the space of wearable technology, he pointed out CGMs as something that could help reverse diabetes. And, you know, in the diabetic community, the concept of reversing diabetes is a hotly debated one. there's a reason why they say that but you know we have a clip and I think we should hear it because I did see people complaining that you know why are we bringing the government into this and there's there's a reason there's a reason why we're referencing that yeah all right let's hear this clip we're about to launch one of the biggest advertising campaigns in HHS history to encourage Americans to use wearables.
33:42It's a way of people can take control of their own health. They can take responsibility. They can see, as you know, what food is doing to their glucose levels, their heart rates, and a number of other metrics as they eat it. And they can begin to make good judgments about their diet, about their physical activity, about the way that they live their lives. We think that wearables are a key to the Maha agenda of making America healthy again. And we are going to, my vision is that every American is wearing a wearable within four years.
34:19Victoria Song:In that particular clip we played, he did say you can take responsibility and see what food is doing to their glucose levels. In order to, glucose is not something that right now we can measure non-invasively. So, you know, when he says glucose levels, that is specifically mentioning CGMs. And he called it out in other statements, basically, about how I have friends who were CGMs and they reversed their diabetes with that. And then if you look at his Surgeon General nominee pick, Casey Means, she is a co-founder of Levels, which is a CGM startup. And if you've read her book, which I did for research, both for this story and for an optimizer that I wrote recently, she heavily promotes CGM use.
35:12Victoria Song:And she says in her book explicitly, you can use a CGM to discover whether your metabolism is functioning. Her whole book and her whole premise is that if you can optimize your metabolism, which she describes as having good energy, you can prevent and, you know, basically you can prevent cancer. You can prevent any type of disease ranging from acne to depression. So, you know, that's her claim. And, you know, whether or not she becomes the Surgeon General is up for debate at the moment. But I think it's very significant that she could be the Surgeon General. And she has these relationships with CGM, these thoughts on metabolism optimization.
36:01Victoria Song:So like it was a very clear focus because the idea here, they're not saying it explicitly, but the idea here is that every American wears a wearable. Every American like optimizes their metabolism. So that means non-diabetics in this cohort. So, yeah. Okay. But just to translate all of that to actual humans and to get into your story a little bit here. I think the useful thing to do here is sort of bifurcate people who medically need this, right? There are, like you said, this is diabetes tech. And I think that the question of how are those people interacting with it and for whom is it useful is fairly clear in that sense.
36:43On the other side, if you're not diabetic, not worried about becoming diabetic, this is still being pitched to you. And I mean you broadly, but also you, V Song, a person who has since spent a lot of time wearing one of these things. When you say optimizing your metabolism or why people should be tracking their glucose, what is the pitch here? Yeah.
37:09Victoria Song:So again, I'm going to bring up Casey Means here. There is a lot of science and thought about how your metabolism contributes to chronic disease over a long period of time. It's a complicated field and the pitch is actually somewhat shaky. But if you have good diet and if you have good exercise, we know that is extremely great for preventive health. So the idea is if you are optimizing your metabolism, if you're staying within a healthy range, you are limiting the amount of inflammation in your body. And again, I'm not a doctor. I am just consuming the literature on this. I'm kind of observing how this is being described by various people in the wellness space and the health space.
37:56Victoria Song:And so the idea is that you don't have these spikes and that these spikes are contributing to things like inflammation, things like your organs breaking down over time. And so if you control it and if you have data that informs how these foods impact your body and your metabolism, then you can live a longer life. And these are exactly why you're seeing trends like age scores within wearables. Like Whoop gives you a Whoop age. I find the Whoop age to be incredibly rude. I was going to ask you yours, and now I'm not going to. It says I'm five years older than I am, and I'm like, that sounds fake.
38:38Victoria Song:Rude. You know, Aura has these metrics about your cardiovascular age, And there is a hyper obsession and fixation right now within wearable tech about your longevity. Like Aura and Whoop both have partnerships with like Quest Diagnostics so that you can take regular blood tests and feed it into their platform. So CGMs are directly tied to that. Abbott and Withings have a new partnership as of January. Dexcom and Aura have an investment partnership with each other. So it's really coming for everyone. They are kind of positioning this as not just for diabetics. And, you know, it's a lot. So there's a push to make this as mainstream as, I don't know, knowing your VO2 max or even like your heart rate or something.
39:37These things that I think are pretty normal, sort of one tick above regular person biometrics. People want glucose monitoring to be as mainstream and as part of our lives as that kind of stuff, it seems like.
39:52Victoria Song:There's a definite push happening there. So, yeah. I want to hear a bunch about your own journey, but I also want to kind of go back to your motivations for this journey. Is this something that you're interested anyway? Like, do you have experience with CGMs? Is this a world you knew going in or did you sort of sense the mainstreaming of it and decide to try to figure it out for yourself? A little bit of all of it, just because my first experience using CGMs on myself was actually in 2023. I tested something called NutriSense, which used one of the Abbott CGMs for diabetics because in 2023, we did not have over-the-counter devices.
40:33Victoria Song:I had a really terrible time training for a half marathon. I was following all the standards and, you know, me, I love to self quantify and I love to see what I can improve. And I just did not understand why I whiffed it so hard at the New York City half marathon in 2023 when I was following really kind of science based training regiments, experimentation with fueling. And at the same time, I was experiencing a flare-up in my PCOS, which is polycystic ovary syndrome. It is a hormonal slash metabolic condition where I do not burn calories efficiently. It affects my reproductive system. It basically means I have way too much testosterone naturally.
41:24Victoria Song:and also it impacts my metabolism, making me more likely to be insulin resistant. I have a family history of diabetes. My dad had pretty severe type 2 diabetes. And it's just a lot of health things that I have been on a journey for a really long time to figure out. So NutriSense was like, hey girl, we'll help you lose weight and optimize your athletic performance using a CGM. And I was like, okay, you know what? I'll give it a whirl. NutriSense has nutritionists evaluate your glucose data. And I was basically told, girl, you're doing everything right. Everything makes sense. You are super great.
42:07Victoria Song:There's nothing to flag here. And I was like, this is amazing. I ate like crap during this entire, not like crap, but I wasn't as locked in or dialed in during that testing period. And I'm perfect. Amazing. So a year later, when the over-the-counter devices came out, I was like, okay, I know what to expect going in here. I'll test it for two weeks, see how this works and what the differences are between what I tested in 2023 and what I test it now in 2024. And, oh, no, it was different. It was not – I was even more dialed in at that point in 2024 too because I was like I have somehow gained 25 pounds doing nothing different, which is a hallmark of PCOS.
42:51Victoria Song:And what was happening was I would test the Dexcom Stelo and the Abbott Lingo and I would wake up with glucose levels at 110, 115 milligrams per deciliter. and what they say is you should be waking up under 100 like 99 and lower is what it's supposed to be because my dad had type 2 diabetes i was aware of something called the dawn phenomenon which when you wake up you tend to have uh an increase in glucose because it's your liver going hey girl wake up time to wake up time to have energy for the day so i was like oh my god and it wasn't a one-off. It was multiple of these CGMs over a period of several weeks.
43:32Victoria Song:And I freaked out. I was like, oh, my genetics, I've been done in. I have prediabetes. I have to go to the doctor. So I went to a doctor and all of my labs came back normal for blood glucose because I went and I said, look at this data. I'm concerned. This is a big jump. And they're like, girl, no, you are in like the most optimal zone like chill out your liver enzymes are elevated so and you're like showing them the app on your phone being like no no i actually i had years of like i'm sure i i keep i'm one of the most nerdily self-quantified people uh around and so i had years worth of blood test data i'm being like no no as you can see this trend in my uh liver enzymes has always been there i've been told in the past not to worry about it.
44:21Victoria Song:It's likely because of other medications or just whatever. I'm the most annoying patient for doctors, by the way, because I'm like, here's some evidence, madam or sir. And, you know, they were just like, I can't believe they have non-diabetics using this. I guess we can give you an ultrasound if you insist on it. And I'm like, verily, sir, I do insist. And so I get an ultrasound and they're like, yeah, you have a mild case of fatty liver disease, lose 10 to 15 percent of your body weight for a starter and come back to us in a year. I was just like, all right, you know what? Fine. I have all these wearable devices.
44:58Victoria Song:Let's try this. And, you know, part of me was just like, I'm going to do everything right. And when the data proves that there's still something wrong with me, we'll have a discussion. Like, you know, I got a little crazed there because I felt so invalidated by that experience. Well, actually, on that point, help me understand sort of the day to day life of that, because I think you and I have talked on the show before about how you feel about things like as simple as the streaks for closing your rings on the Apple Watch and the ways in which data collection turns sort of pernicious and addictive in a way that is really problematic.
45:36And it seems like from the bits I've heard of this through your reporting, which again is like 18 months long, that this became a particularly deep version of that rabbit hole for you. Like, what was the sort of when you were like really in the deepest testing phases of this stuff? What was the sort of day to day experience of living with one of these monitors like?
45:59Victoria Song:So it was a lot of time reviewing data, but it's like you wake up, you pull out the apps. there were times where I would only test one CGM at a time and times where I would have two, one in each arm. And so when I had two, one in each arm, it's pulling out an app and then looking at two different apps and trying to understand why the numbers were different. And then also, you know, going, okay, I can have a controlled experiment where I'm going to go on a run and see how that spikes it in one glucose monitor versus the other. So I'm pulling up three to four different apps, looking at my heart rate data, looking at my blood glucose data.
46:38Victoria Song:And then also because nutrition is such a huge part of it, it involves creating a bunch of mini experiments with what you're eating, what time of day you're eating. So if I eat the same carb heavy meal in the morning, in the middle of the day and at night, how does that impact my glucose? If I cut off eating at a certain period of time, how does that impact my glucose? If I go for a walk after I eat a protein-heavy meal versus a carb-heavy meal, how does that impact the difference? Oh, you could drive yourself crazy doing this without even trying very hard. Oh, without even trying hard at all.
47:14Victoria Song:And then some of these apps themselves, like I will say that Dexcom, Stello, and Abbott Lingo, I talked with all the teams behind these and wanted in insight into how they developed certain features like the the stelo will alert you to spikes not in the moment after a certain period of time as to not spike your anxiety too much whereas the lingo will create a score so if there is a spike that's activity related you won't get a score but if you spike it and it's food related you're gonna get a number of some sort and so i'm waking up and I'm seeing that overnight on a night where I had not snacked, where I had not done anything that was bad, like eating ice cream in the middle of the night, done none of that.
48:03Victoria Song:I was waking up with like lingo scores of 60 because I was spiking so hard in the middle of the night. And I was just like, what's happening here? I don't know what this is because I had had a baseline of data from 2023 that showed no such behavior like that. And the way that I was responding to food compared to the year previous was not the same at all. So I actually have these screenshots of how, you know, one year eating, taking a walk and then eating a meal differed in terms of what my glucose response to it was. And you could go insane over that. Like, Why is this data behaving differently?
48:46Victoria Song:And there's many reasons why. As I did research, I was finding out that, like, if you sleep on your side, that could impact these readings. Oh, wow. Because it compresses the interstitial fluid. And most of the time that leads to lower than real readings. Sometimes it could be higher. So I was like, oh, is it the fact that I'm a side sleeper? Is that impacting why there's a difference between these two devices? Let me test one in one arm and one in the other because I primarily sleep on one side. And then I realized throughout this experiment that I can't account for how I move during the night.
49:23Victoria Song:I have cats. Is a cat sleeping on me going to affect it? There was no way to like isolate and control for that. Barring booking myself in a hotel and putting a camera, filming me at night. And then, you know, I contemplated doing these things. And I was like, that's actually insane, though. There's no like the normal person is not going to do that. And there's the only other way to do it. And this is what many diabetics do, would to be by a finger prick test and calibrate the CGM that way. And as a non-diabetic, is that something I would know to do? And I was just like, I don't think the average non-diabetic would know that if they were to buy this device and try and test it organically based solely on the educational articles within the app.
50:08Victoria Song:So like the TLDR is that I started going to social events and not eating anything because I was terrified if eating a slice of pizza was going to spike my glucose. I couldn't eat cake at friends' birthday parties because, oh my God, that's going to spike my glucose and it's going to make my metrics look wonky. And then what do I do with that? I can't do I can't eat carbs unless I'm measuring it. I bought a kitchen scale. I memorized the weight of my plates. I learned how to scoop rice in such a way that I'm automatically getting a certain amount. And I had studied what that amount of rice would do.
50:45Victoria Song:And in some ways, it led to healthier things. Like I stopped eating pure white rice. I started mixing brown rice with quinoa. Like these are good things for you. These are things you should do or whatnot. So that was great. But those behaviors I just described to you are like the early hallmarks of eating disorders and disordered eating, which are two different things. But, you know, my therapist noticed it. My friends noticed it. I had interventions held and I was like, oh, I've become really obsessive in a way that is harming me and that I didn't even realize was harming me. Me, someone who is very aware of the ways that data fatigue can be pernicious, I had slipped into, like, I don't know many athletes or women who have not had a period of disordered or disordered eating or eating disorders within their lives.
51:38Victoria Song:It's very common. It's very pervasive. It's very supported by diet culture. I dealt with it as a teen, and I worked really hard for decades to have a healthy relationship with food and exercise. And I found that I was just like, oh, I can just take a 40 minute walk after this meal and then I'm allowed to have a piece of cake. And that is not healthy thinking. That's not healthy thinking whatsoever. And if you don't like notice it, if you don't flag it, that can turn into something a lot more dangerous very quickly. and I legitimately had my therapist go like, hey, I've noticed you've been talking about food in a way that you haven't in a really long time.
52:21Victoria Song:And I just want to investigate why this is happening. And I explained to her this whole experiment and she's like, I love your dedication to work, but can we consider that it's not out of the realm of possibility that you can enjoy a single slice of cake and see a spike and that's okay. Right. And, you know, yeah. Well, it's the that's okay that I think is also interesting here because there is, I can just imagine the horrifying sort of causality between I eat this thing and I see the number go up and I know that the number going up is bad. And actually the answer is vastly more complicated than that.
53:01But talking to folks in this industry, is there any sense that we need a better way to represent this data, that the things that we're giving to people who are supposed to review them with their doctor for medical reasons actually are nothing like the things we should be giving to people who are, quote unquote, optimizing their metabolism?
53:18Victoria Song:This was the ultimate question I was trying to find out in the research. And unfortunately, there is not a good answer. So we have a lot of data about diabetics. We have no consensus among experts about the data from non-diabetics. So I actually interviewed Nicole Spartanow, who had run this study, where she took non-diabetic CGM data and gave it to 18 expert endocrinologists who extensively work with CGMs. I think a lot of health care providers don't have experience with these devices. And, you know, I can tell you, we just published a study surveying endocrinologists who have a ton of experience using this technology in people with diabetes.
54:08and we gave them 20 different glucose monitor reports. Sort of the visual is very similar to what you see on the app and asked them, okay, if someone came in with this report, would you suggest they have follow-up screening for this? And I think we had 18 different experts that we surveyed and essentially there was no consensus.
54:38Victoria Song:In talking to these researchers, they were telling me it could take years, just like several years before we have enough data, enough peer-reviewed studies, enough consensus to have an actual actionable advice for people like me. And I legitimately was losing sleep every night thinking that I had something wrong with me. And so I went to another doctor. I was showing her all my data. And eventually what happened was this doctor held my hand and she's like, I'm so proud of you. You clearly take a lot of interest in your health. And I'm here to tell you that your genetics are just crap. And you need medication because no amount of taking control of your life, as RFK is saying that Americans should do, and making appropriate lifestyle changes.
55:26Victoria Song:You've done it for over a decade and it's not done anything. So I need you to hear me when I say, here are three medical prescriptions I'm going to write for you. Have at. And throughout all of this, I was thinking about like, what does it mean to actually be healthy? And it's kind of emotional for me because when I started this journey, I was in the best running fitness of my life, the best cardiovascular fitness of my life. These devices were telling me, you're seven years younger in your heart. You're doing great, girl. I was, at that point, I had cut 16 minutes off of my four-mile time. I was lifting weights.
56:03Victoria Song:I was gaining muscle. I was feeling great. I was eating healthy. And now that I'm on these medications, which for me have come with severe side effects, I have all these wearables telling me, hey, girl, I want you to know that your cardio fitness is below average. I want you to know that you're not doing so hot but my biomarkers for the first time in my last 10 years my cholesterol is where it should be I reduced my liver enzymes by 65 % I lost a lot of muscle mass it's very conflictive for me because I almost wrecked my relationship with food and in some ways you could say this was a resounding success and that I've made a lot of progress with my metabolism.
56:51Victoria Song:I've lost at this point, maybe 26 pounds in a very, very short amount of time, I want to say. And like, I don't recommend that actually. I've had so many side effects. I can't run. Running is such a huge part of my life and I have no energy to run at this point in time. I can't run more than a mile at a time. It's been a huge loss for me and my mental health as well. And so did I become healthier in this process? I think some people would say, yes, you are well on your way to optimizing your metabolism. And it made me think very deeply about the limitations of wearable tech, just as, you know, influencers are like, optimize your life.
57:32Victoria Song:Well, is my life optimized? Is what I would posit to all of them. Is it optimized now? I don't know. I would argue not. I would argue it's not optimized. And is it optimized for what, right? Like I'm so struck as you're talking about this by you, I just have this visual of V perpetually wearing, you know, between six and 400 different devices that are measuring different things. And those are actually all measuring different things that are sometimes in opposition to one another that are going to yell at you to do the thing that they are incentivized to get you to do, right? And I know you've been getting feedback from people in a lot of different situations.
58:10And I'm curious how you feel about the idea of CGMs in particular, but also just this sort of medical grade data collection that we are increasingly giving ourselves, whether that's even a good idea right now.
58:28Victoria Song:I have a lot of feelings about it. It actually keeps me awake at night. It really does keep me awake at night. Because, you know, and again, a lot of people were asking why we had to talk about the Maha framing at all with regard to CGMs and wearables at large. And I feel very passionately that we do have to talk about it because when you frame it in this way that it's good for everyone, I feel something that wearable health has not adequately answered at this point in time is how do you distinguish between what is a wellness feature and what is a medical feature? And this is actually something that's being debated in Washington at this point in time.
59:15Victoria Song:Politico has reported that a lot of Washington staffers are wearing whoops and aura rings. Aura is lobbying to have a different classification of device called a digital screener. And that's just relaxed FDA regulation so that they don't have to go through as rigorous a process as they have been. And there's reasons, there's valid, legitimate reasons for doing that. Having to go through the FDA clearance process can cost millions of dollars. Some of these features, these detection screening features could save lives. I mean, we know that the Apple Watch has saved lives, for example, right? It is one of the reasons why the smartwatch didn't just die into oblivion.
59:59Victoria Song:It's that we have atrial fibrillation. People viewed it as something that was integral to saving their lives. And we have real life stories of that being the case. You could look at my case and say this was an unmitigated success because I did finally find an answer to something that had been plaguing me for 10 years. I think there's a strong argument to be made that what you actually got was a good doctor, for the record. That too. Or, you know, there's a strong argument that, you know, medication is important and can help when genetic deficiencies or genetic predispositions are not great for you.
1:00:35Victoria Song:but you know what's happening in Washington with the discussion towards health tech and wearables it informs the the the features that come out it informs why an AI nutrition chat bot in your Garmin app or your ladder strength training app might tell you that you need to eat 135 grams of protein because RFK Jr. has said that there is a war on protein even though there is no scientific evidence proving that. Like these things are so tightly married together that, you know, we can't talk about one without talking about the other. And like, I don't think CGMs are bad. I don't think non-diabetics necessarily using CGMs is inherently valueless.
1:01:23Victoria Song:Like people in my situation where you have a predisposition and something starts feeling not right with you. You want to learn early about what's happening. I don't think that's necessarily wrong. I just want us all to be hyper aware of what the cost is. I paid a pretty high cost throughout this experiment. I got to live and see firsthand how type one diabetics live because this is life or death for them. It's not life or death for me, at least not in the short term. It is very much in the short term for them, a life or death technology. And I've gotten a lot of feedback from type 1 diabetics who are just like, I hate that they're, you know, marketing this widespread just because in the same way that GLPs have been marketed widespread, it makes life harder for us.
1:02:10Victoria Song:We have shortages now. And I think that's a valuable conversation to have, even as other people are saying, well, you know what, GLPs for addicts, for people who have PCOS like me, for people who have metabolic dysfunction like me, for people who have high cholesterol and all of these things, it also dramatically improves their lives. So there is so many conversations right now that are happening. And in my ideal world, I would say that there would be medical consensus. Maybe people, if depending on the blood work that their doctor sees, says, hey, you know, we're up for your physical this year.
1:02:44Victoria Song:I can get a really good sense about your A1C from this, but how about once a quarter, we have you wear it for two weeks and just see where you're at with certain things, if things are changing. I don't think that there's inherently anything wrong with that. It's the idea of using this every day for everyone, always reviewing the data that I find like maybe is a bit not the correct approach. I did a lot of research into seeing whether there is clinical evidence that wearables are linked to increased health anxiety, and it's inconclusive. There have been a lot of studies done, and they're like super great for some people.
1:03:20Victoria Song:And, you know, the only concrete thing I could find in maybe like 10 to 12 studies that I reviewed was that it exacerbates symptoms in people who already have eating disorders or disordered eating. And some people will be like, oh, that's been around forever. However, I encourage you to look into the science literature and see how many people have disordered eating, particularly among populations who are attracted to this data like athletes, like female athletes. I want to point to Alyssa Liu, who just won the gold medal for figure skating and how one of the things she said was her condition was, if I come back to this sport, no one is going to tell me what to eat and how much of it.
1:04:03Victoria Song:So I, in writing this, really wanted to say we need to have a much more thoughtful, nuanced discussion about how to integrate these tools into our lives so that they remain tools and we don't live our lives in service to a tool. Like we don't become the tools. We control the tools. Yeah. So it's I feel very emotional about it because it's it's I think not a clear cut thing. Yeah, I agree. Well, I know it's been a journey, but thank you for being here and thank you for the story. I suspect it feels very good to finally have all this reporting out in the world. I cried. I cried because I was like, it's done.
1:04:54Victoria Song:It's out there. And, you know, I finally feel like my journey is not over because I really got to get these side effects like under control. But it feels like done enough. And I feel very strongly that if we can continue the conversation and have really smart conversations about it, that maybe we can push these companies to be a little more human. And how they create these features. Because they do think about it. They really do think about it. But the bottom line is profit. So we have to think about that too. True that. All right, V, thank you for being here. Appreciate it. Yeah, thanks for having me.
1:05:34All right, we got to take one more break. And then we're going to come back and do a question for the VergeCast Hotline. We'll be right back.
1:05:44We're back. Let's do a question from the VergeCast Hotline. Reminder, by the way, we are doing that episode next week. Please call with all of your questions about The Verge, about The Vergecast, about podcasts, about journalism, about Neelize jackets, whatever you want. We want to hear all of it. The number, as always, is 866-VERGE-11. The email is vergecastattheverge.com. I'm davidpierce.11 on Signal. We're easy to find. Hit us up. For now, we have a question about, I don't know how to put this, just gadgets. Gadgets in general. Let's hear it. Hi, Beck. just a really random one that I think would be good for the show.
1:06:20How is it that we have gone from kind of the early Apple clamshell Macbooks, which were beautiful and very colorful and very detailed to kind of the situation where everything is quite planned, even we're starting to lose the bevels on something and we're having to skin stuff to be able to make it make it fun thanks okay i've actually been asking various people a version of this question for a really long time because i became obsessed with this question of like why aren't there more gadgets right like you go back a long time ago and and even apple was a company that made a laptop that looked one way and a different laptop that looked completely different, right?
1:07:09Like a PowerBook and an iBook, utterly different ideas about what a laptop should be. And then all of a sudden everything converged and we have MacBooks, right? And MacBooks look slightly different, but they're all MacBooks. A MacBook is a MacBook is a MacBook. And everybody has a MacBook and there's a MacBook for everybody. You go back to like the early days of phones and there were lots of new ideas about phones and lots of different colors and lots of different styles and lots of different ways that screens would open and rotate. And then we all converged on this one idea. And you go back to like the early days of software, and there were lots of ideas about how software looked.
1:07:43And then there have been fewer and fewer and fewer over since. And I think in asking people about why this has happened, I've really come to two answers. The first is just that as something gets sufficiently popular, it becomes very hard to change it at all, especially when something is popular and good and people like it. Right. Like look at the MacBook is maybe a perfect example of this. Right. Apple basically found a design that looks good. It works well and it serves a lot of purposes. You can make it a little tiny bit thicker and you can put more battery into it. You can put a fan into it to cool it down when that was necessary and useful.
1:08:22And you can make a big, powerful laptop. Or you can shrink it very slightly, slim it down a little bit, and have a MacBook Air. You don't need a bunch of new ideas because you have one that kind of more or less works for everybody. This is the answer I find very frustrating, right? Because this is also the answer that leads to every other phone looks like the iPhone. because once something becomes sort of the image in people's minds, anything you do that is different becomes a huge swing that you have to make people think differently about, right? Like if Apple were to introduce the iBook now, it wouldn't work.
1:09:04Like I really earnestly believe that. And so when you get something like the MacBook Neo, what Apple does is take the rough outline of a MacBook, add some nice colors, change a couple of little things, right? Like you tweak the trackpad to make it a little cheaper. But like that thing is still a MacBook. Nobody is going to look at that thing and think it's anything other than a MacBook. Whereas if you introduce the iBook, which is this big, round, plastic, sort of transparent thing with a handle, you'd get a lot of people who are like, what on earth is that? And even if it was objectively better, it would still be this huge uphill battle to convince people that it's better because we have all this history with this sort of lowest common denominator device that people are more or less happy with.
1:09:48It's the same with phones, right? I think this has been a really interesting challenge with foldable phones and going back to flip phones. We just converged on the idea that a phone should look like this. And so every phone looks like this. It's a candy bar phone. You either have something that looks like an iPhone or something that is an iPhone. And those are essentially the two phone ideas in the world right now. That's not to say there aren't other better ideas. There are lots of people out there who long for the idea of a sidekick, which had that sort of flippy open screen. There are lots of people who miss their BlackBerrys.
1:10:18There are lots of people who might actually be really well served by a phone like the LG Wing, which had a screen that flipped horizontally, which in a certain way actually makes quite a lot of sense. Like if you watch a lot of YouTube on your phone, maybe a screen that just flips horizontally would make a lot of sense. But again, it's just an uphill battle to convince people that they want that thing, to make software and accessories that support that thing, and to just push outside of the norm becomes harder and harder and harder. The other half of that is also that once people become accustomed to a certain kind of advice, they get really annoyed when you change it, right?
1:10:54Like if your iPhone suddenly had a screen that flipped upwards, some people would think that's cool, and some people would find it incredibly annoying. My favorite example of this always is you look at an app like Microsoft Word. Microsoft Word is filled with buttons and ribbons and icons and stuff that like no one thinks this is good UI. No one, including at Microsoft, thinks this is like good, beautiful, modern software UI to have just a bunch of ribbons and 100 ,000 options in a menu. But the problem is there are millions of people who have used Microsoft Word essentially as it is professionally for decades.
1:11:34It is their livelihood to know where these things are in Microsoft Word. And so if you just move a little button, like somebody at Microsoft has said this to us one time, and it's been stuck in my mind ever since, that every teeny tiny feature that almost nobody uses inside of Microsoft Word is still used by millions of people. And so if you move that, even if you move it to a better, simpler, easier place, you have now created a bunch of new work for people to do. And most people don't want to do that work. And that's fine. Most people have better things to do than learn where buttons are, right?
1:12:04This is the sort of eternal struggle of any designer is you build something that people like and gravitate to, and it becomes sufficiently popular that it actually becomes almost impossible to change. And so you either have to do what like Google does, which is just endlessly try to invent new things that mostly don't take off. Or you just kind of let the thing slowly atrophy over time because you don't want to screw up people's workflows. The beauty of that is neither of those is the correct answer. And almost nobody is good at figuring out how to sort of slowly move people in the right direction without feeling like you're constantly making people learn new things.
1:12:41And I think this is true with all kinds of software. It's true with all kinds of gadgets. basically once we as a consumer society land on an idea that works, even if it's not the best idea, it's just something that works and we get comfortable with it, changing that thing becomes very, very hard. So that's all one thing. The other thing, and this is the thing people have told me many times, is it's much cheaper to make fewer things than it is to make more things, right so if you're apple again just to keep picking on the macbook you can make a bunch of different kinds of macbook in roughly the same way with tiny little tweaks to your process and tooling pretty inexpensively right you have this incredible economy of scale that allows you to make tons and tons of these things and if you want to make a neo and all you're changing is like the color and a little bit of the size and a couple of parts you don't have to like spin up new factories and invent new tools and teach people how to do tons of new things.
1:13:40You just drop a couple of new changes to the process and you're off and running with a new thing. Whereas if you want to invent an entirely new gadget category or reinvent the way a laptop works entirely, that's going to be enormously expensive, like literally in dollars expensive to change your whole manufacturing process. You have to change the packaging process. You have to change how things like move on trucks and how they fit into things. Like think about all the times Apple has redesigned the Mac Pro and the ways that that has been weird both to fit into people's workflows. And it has actually been hard for Apple to manufacture because going from we have this rack mounted large thing to we have a trash can takes a lot of work and energy in how you make the thing, how you move it around the world, how you stock it in stores, how you sell it to people, how they install it.
1:14:30Like these changes are complicated and they're expensive. And so if you're Apple and you're like, well, OK, we can make either two completely different ideas about laptops that require two completely different processes from beginning to end, or we can make essentially one laptop that gets slightly thicker and slightly thinner and maybe drop in a new part here and there. obviously at some level of scale the only smart business decision is just to make the one thing especially again if you are not 100 confident that this other new thing is going to be such a gigantic success that it makes all of it worth it this is this is the challenge and i think what you see is you see companies take much bigger swings with the first version of something than you do anytime after that and that's partly for sort of consumer psychological reasons like we you're talking about.
1:15:20But it's also for reasons of like, well, we've built the damn factory. We know how to make this thing. And it becomes much easier to go from making, you know, a hundred thousand of something to a hundred million of something because it becomes very successful than it was to figure out how to make that first hundred thousand of something. And so you build these systems, you build these tools, you build these supply chains, and then you don't want to blow it up over and over again, just in the name of having brand new ideas. going all the way back. This is one thing I actually give Apple an enormous amount of credit for.
1:15:52We've talked about this a bunch on the show, but there was this run where Apple announced the iMac G3, the iMac G4 and the iMac G5. And they were three fundamentally different devices, different designs, different looks, different sort of vibes to them in really interesting ways. But even that was driven by this brand new technology that was flat screen monitors, right? So Apple is actually being forced to make these changes because there is a new technology that they want to put in your products. So that becomes the forcing function for new devices. If you want some big new thing, you should root for some important new display technology or some wild new idea about how these things can work.
1:16:32That's what makes redesigns happen. And in most spaces, we haven't had that in mobile in a long time. Everything has been just getting sort of steadily better, but we haven't had like a sort of breakthrough new technology that has made its way into phones in a really long time. We haven't had it in laptops either. We've just been on this sort of steady march of progress for a long time. And so there's no forcing function for everybody to say, well, okay, we have to blow up the system anyway. Let's tear this whole thing down and start over. What you have is you could say, we want to spend an enormous amount of money to try and have a new idea about the iPhone, the most successful product ever, or you could just keep making better iPhones.
1:17:11And like, is that the boring choice? Is it not the choice I wish they would make? Of course, but it is the obvious choice and it is the choice almost everybody makes. So if you if you want more exciting gadgets, if you want more gadgets, root for new technology, root for new displays, root for some breakthrough new, you know, input device like Apple always talks about. What is the thing after the touchscreen? If we figure that out, I guarantee to you, we are set for a whole new kind of device category that will make all of this feel very fun again. Anyway, those are all my thoughts. That's what I've been talking about for a long time.
1:17:47I hope that helps. If you have any other ideas, if you have other things that I've missed, or if you think there is a bunch of like fascinating new idea innovation happening in these spaces right now, tell me all about it. I want to hear about it. 866-VERGE11, vergecastoftheverge.com. For now, that's it for the show. Vote for us in the webbies. You have until Thursday to do that. I'm eternally grateful to all of you who have already voted for us. Also, send us questions about The Verge and The Verge Cast. 866-VERGE-11 is the hotline. Vergecast at theverge.com is the email. There's a lot going on right now.
1:18:16It's just, it all just keeps happening. You know what I mean? The Verge Cast is a Verge production and part of the Vox Media Podcast Network. The show is produced by Eric Gomez, Brandon Kiefer, and Travis Larchuk. I will be back with Neel Eye on Friday to talk about presumably more of our weird DIY projects because I got a lot of feedback on my dumb vibe coding stuff, and I have some catching up to do. We got more news, more AI stuff, all kinds of good stuff. We'll see you then. Rock and roll.
From the publisher
During the height of the cryptocurrency craze a few years ago, the actor Ben McKenzie found himself wondering why no one else was seeing what he was seeing. He joins the show to explain his yearslong attempt to understand Bitcoin and the crypto world, all of which is in his new documentary Everyone Is Lying to You For Money. (You can probably guess how he feels.) After that, The Verge's Victoria Song tells us about her testing of continuous glucose monitors, which have gone from medical device to influencer trend in some worrying ways. Finally, we answer a question from the Vergecast Hotline (call 866-VERGE11 or email vergecast@theverge.com!) about why all our gadgets seem the same these days.
Vote for The Vergecast in the Webby Awards! A vote for The Vergecast is a vote that Brendan Carr is a dummy, that buttons are good, and that party speakers rule the world. Voting is open until April 16. https://vote.webbyawards.com/PublicVoting#/2026/podcasts/shows/technology
Further reading:
Everyone is Lying to You for Money
Low interest rates and loneliness: the origins of the pandemic crypto boom
Continuous glucose monitoring made me continuously crazy
Subscribe to The Verge for unlimited access to theverge.com, subscriber-exclusive newsletters, and our ad-free podcast feed.We love hearing from you! Email your questions and thoughts to vergecast@theverge.com or call us at 866-VERGE11.
(Timestamps are approximate.)
00:00:00 Sprinkler Duty Intro
00:03:00 Ben McKenzie Crypto Journey
00:04:00 Is Crypto Really Money
00:09:00 El Salvador Reality Check
00:11:00 Could Crypto Ever Work
00:14:00 Crypto Culture
00:19:00 Casino Capitalism And Crime
00:23:00 Why Bitcoin Keeps Rising
00:30:00 CGMs Explained
00:32:00 FDA OTC And Wellness Boom
00:33:00 Government Push For Wearables
00:39:00 Longevity Wearables Boom
00:41:00 Why Try CGMs
00:44:00 Scary Readings Doctor Visit
00:47:00 Living in the Data
00:48:00 Apps Scores Calibration
00:51:00 Disordered Eating Spiral
00:54:00 No Consensus for Non Diabetics
00:57:00 Medication Tradeoffs
01:00:00 Wellness vs Medical Regulation
01:04:00 Using CGMs Thoughtfully
01:10:00 Vergecast hotline
01:11:00 Why Gadgets Got Bland
01:22:00 Final Thoughts
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