WEBVTT - Gloria Romero is Running for Lt Governor

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<v Speaker 1>And we continue at two oh five in the afternoon

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<v Speaker 1>on the John Phillips Show. Mister Randy Wegg is off today.

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<v Speaker 1>His flight was canceled and he's stuck in Dallas. So

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<v Speaker 1>maybe he's hanging out with Mark Cuban.

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<v Speaker 2>I don't know.

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<v Speaker 1>Eight hundred two two two five two two two is

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<v Speaker 1>the telephone number one. Eight hundred two two two five

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<v Speaker 1>two two two. It is my pleasure to welcome our

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<v Speaker 1>next guest to the program. She is the former majority

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<v Speaker 1>leader of the California Senate. She's also a candidate for

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<v Speaker 1>lieutenant governor here in the state of California. You can

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<v Speaker 1>get her online at Gloria Romero the number four ltgov

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<v Speaker 1>dot com and you can follow her on exit.

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<v Speaker 3>Gloria J.

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<v Speaker 1>Romero, Senator Gloria Romero, welcome, so good to be with you.

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<v Speaker 4>And I wish Randy a good time in Dallas.

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<v Speaker 1>Well, if you want him to come back, tell him

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<v Speaker 1>to buy a ticket on an airline that's not American.

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<v Speaker 3>All right.

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<v Speaker 1>We are are exactly one week ahead of the election.

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<v Speaker 1>People are filling out their ballots right now as we speak.

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<v Speaker 1>As the ballots went out in the mail to every

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<v Speaker 1>registered voter in the state, of California. I think the

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<v Speaker 1>voting centers have opened up as well, and of course

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<v Speaker 1>people can vote on election day as people are making

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<v Speaker 1>up their minds right now, make the case why should

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<v Speaker 1>people vote for you for a lieutenant governor?

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<v Speaker 5>Well, I think the voters are ready for change, and

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<v Speaker 5>we see this on the right track, wrong track, pulling

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<v Speaker 5>consistently whether you're a Republican, a Democrat, independent, we are

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<v Speaker 5>finding that Californians are sick and tired of being sick

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<v Speaker 5>and tired.

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<v Speaker 4>We want change.

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<v Speaker 5>Essentially, it's a referendum on one party monopoly rule and

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<v Speaker 5>Gavin Newsom. I mean, we find number one in homelessness,

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<v Speaker 5>number one in taxes, number one in crime, and yet

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<v Speaker 5>at the bottom of the barrel when it comes to

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<v Speaker 5>literacy and school achievement. You know, on top of it,

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<v Speaker 5>listening to your previous segment, that about the whole covering up,

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<v Speaker 5>the hiding the numbers and then.

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<v Speaker 4>The cover up. And if we take a look at.

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<v Speaker 5>Why why voters for no other reason except these that

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<v Speaker 5>I'm about to say, should vote for change, which means

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<v Speaker 5>don't vote Democrat anymore. Vote Republican. Gloria Romero for Lieutenant governor.

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<v Speaker 5>I've urged Steve Hilton for Republican governor. But we take

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<v Speaker 5>a look at the so called bullet train, the bullet

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<v Speaker 5>train that we know has cost already an estimate two

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<v Speaker 5>hundred and thirty billion dollars and they've now released the

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<v Speaker 5>bullet train is probably going to turn into a high

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<v Speaker 5>speed bus. That's crazy. But it doesn't stop with the

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<v Speaker 5>bullet train. You can go into these hospices. We haven't

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<v Speaker 5>found leering centers in California, but it might be worse.

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<v Speaker 5>We found hospice centers where basically you go to say

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<v Speaker 5>I want to have peace until I finally, you know,

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<v Speaker 5>expire and die going to the next world.

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<v Speaker 4>We found that.

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<v Speaker 5>They have hospice a center in a burrito stand, I

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<v Speaker 5>mean a burrito stand. John, think about the crime that's there,

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<v Speaker 5>and then you take a look at the unemployment fraud

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<v Speaker 5>that was taken away, the so called also hearing age

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<v Speaker 5>that turned into a sham. There were supposed to be

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<v Speaker 5>emergency nine to one one upgrade that went down the drain.

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<v Speaker 5>And what about the diapers, I mean the diapers that

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<v Speaker 5>Gavin Newsom's first partner was basically going to profit off

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<v Speaker 5>of in her so called nonprofit I mean, the giveaway that.

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<v Speaker 4>Costs more than if you just walked into.

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<v Speaker 5>Your local target and bought. So this is all of

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<v Speaker 5>like the books, the waste, the fraud, the abuse. But

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<v Speaker 5>you know what I think is even more important why

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<v Speaker 5>voters should just turn away is that this administration and

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<v Speaker 5>if this happened for a while, are hiding the books.

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<v Speaker 5>They're not only cooking them, they're hiding them. And what

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<v Speaker 5>do we mean by got well, how many of us

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<v Speaker 5>know that the administration hired some very fansors I think

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<v Speaker 5>it was Italian tile, to put into this new annex

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<v Speaker 5>in the Capitol. They created secret passageways so the members

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<v Speaker 5>cannot be confronted like by the.

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<v Speaker 4>Ashley Zabalas, you know, the reporters.

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<v Speaker 5>And Sacramento who want them to answer questions. We find

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<v Speaker 5>that they still refuse to release all of these secret

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<v Speaker 5>settlements with you know, compromising situations allegedly between members and

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<v Speaker 5>their staff. And we're finding now too that they're even

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<v Speaker 5>running legislation to hide from us the cost of the

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<v Speaker 5>so called bullet train to nowhere.

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<v Speaker 4>So it goes on and on and on, and.

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<v Speaker 5>We're just saying vote different. You know, this is insanity.

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<v Speaker 5>It's not going to change unless we are willing to

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<v Speaker 5>break one party rule.

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<v Speaker 4>So I invite your listeners.

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<v Speaker 5>If you know, if you're happy with your government, you

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<v Speaker 5>can keep your government. But if you're unhappy, give us

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<v Speaker 5>a chance. Vote differently. Vote for a Republican who understands

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<v Speaker 5>that people deserve better government. If not how much we spend,

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<v Speaker 5>it's what we get out of it. And nobody is

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<v Speaker 5>getting anything good.

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<v Speaker 4>Out of this government.

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<v Speaker 5>So that's the pitch, and I ask people to turn

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<v Speaker 5>out and vote. It's going to continue if we don't

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<v Speaker 5>stand up and just say enough.

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<v Speaker 1>As majority leader, you have worked very closely with multiple

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<v Speaker 1>governors here in the state of California to do things

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<v Speaker 1>like get budgets through and make the state function. We

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<v Speaker 1>have an absentee landlord governor who is running for president

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<v Speaker 1>and doesn't seem interested in the duties of his office,

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<v Speaker 1>and it seems like that attitude has trickled all the

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<v Speaker 1>way down to the other statewide constitutional officeholders and even

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<v Speaker 1>in the state legislature and to local government. One of

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<v Speaker 1>your opponents in the race is the state Treasurer, Fiona

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<v Speaker 1>ma who is running for a lieutenant governor because she's

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<v Speaker 1>turned out a straight state treasurer. And you look at

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<v Speaker 1>her social media accounts. She has a lot to say

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<v Speaker 1>about Donald Trump, She opines about federal issues, she opines

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<v Speaker 1>about ice. But if you're the treasurer when all of

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<v Speaker 1>the fraud that you just described took place on your

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<v Speaker 1>watch and you didn't seem to care. You weren't out

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<v Speaker 1>blowing the horn. You weren't trying to use the power

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<v Speaker 1>and the duties of your office to stop it from happening,

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<v Speaker 1>to prevent taxpayers from being fleeced. You were perfectly happy

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<v Speaker 1>to go along and get along and allow all of

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<v Speaker 1>these criminals to enrich themselves and allow taxpayers to have

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<v Speaker 1>their hard earned money stolen from them by these bad actors.

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<v Speaker 1>It seems like Gavin Newsom's attitude has trickled all the

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<v Speaker 1>way down to every layer of government here in California,

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<v Speaker 1>and it's like a answer that's killing the state.

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<v Speaker 5>You're exactly right, John, And that's how egregious it is.

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<v Speaker 5>And the cynicism not of the people, not of the voters,

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<v Speaker 5>but of the rulers, you know, the monopoly, the so

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<v Speaker 5>called you know, no king's chorus that says we have

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<v Speaker 5>to do better. They basically have a disdainful attitude towards

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<v Speaker 5>the people of California. You mentioned Gavin Newsom. You're absolutely right.

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<v Speaker 5>The guy is missing an action. He's on a delusional

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<v Speaker 5>tour that he can be made president and nobody will

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<v Speaker 5>notice his failed record in California.

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<v Speaker 4>The guy is a.

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<v Speaker 5>Joke, but he's hurting us painfully. But then you take

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<v Speaker 5>a look at the current lieutenant governor who is running

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<v Speaker 5>for treasurer. When the governor is out of state, it's

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<v Speaker 5>the lieutenant governor who should take over. Has anybody seen her?

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<v Speaker 5>Has anybody heard from her? When the governor is out

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<v Speaker 5>of state? The lieutenant governor has authoritative powers, I tell you,

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<v Speaker 5>and I'm lutenan governor. I'm not going to be invisible

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<v Speaker 5>if we have another drifting type governor. I don't think

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<v Speaker 5>we will if we elect a Republican, but stay tuned,

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<v Speaker 5>we might if we elected Democrats. But the current lieutenant

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<v Speaker 5>governor is as much missing in action, she's even more

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<v Speaker 5>invisible because the people don't even know that there's an

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<v Speaker 5>acting governor invisible. So she's running for office. You mentioned

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<v Speaker 5>one of my opponents, the treasurer, who is running for

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<v Speaker 5>office too, and she also has some real problems out

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<v Speaker 5>tied allegedly to a donor from China who is trying

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<v Speaker 5>to buy high school diplomas from a local district. Allegedly,

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<v Speaker 5>I'd say, but that track record looks pretty strong in

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<v Speaker 5>terms of evidence. So she's running for office, just running

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<v Speaker 5>about Orange Man bad. Then continue on it. You have

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<v Speaker 5>an attorney general failing to curb in any of the crime.

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<v Speaker 4>He's out running for his own reelection.

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<v Speaker 5>Then you have the Secretary of State out running for

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<v Speaker 5>re election. Then you have the controller who's not controlling

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<v Speaker 5>any of the ways the fraud and abuse, out.

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<v Speaker 4>Running for reelection.

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<v Speaker 5>Then you have the worst of them, the superintendent of

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<v Speaker 5>public instruction, who thinks because he has run a school

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<v Speaker 5>system into the ground, it's failing. Over fifty percent of

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<v Speaker 5>the kids can't read, or write or do math, and

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<v Speaker 5>he thinks he can be governor. He's out running for

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<v Speaker 5>this position. So when you stop and you look at it, John,

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<v Speaker 5>all of them are running for themselves, like the public

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<v Speaker 5>be damned. Can I say that on radio? I'm not

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<v Speaker 5>sure of It forgets the public and you have to

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<v Speaker 5>wonder who's running the state of California. I will tell

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<v Speaker 5>all our listeners right now, we are on our own.

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<v Speaker 5>The monopoly rule has basically taken us for granted. We

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<v Speaker 5>have to stand up, speak up, show up, mail your

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<v Speaker 5>ballot today or drop it in a dropbox or walk

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<v Speaker 5>it in to a voting center or on election day.

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<v Speaker 4>It's us if we want.

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<v Speaker 5>Change, we have to throw these bums out because they

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<v Speaker 5>don't care about us. They care about their own careers,

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<v Speaker 5>and their record of not showing up is exactly what

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<v Speaker 5>we have to tell the people. As a final reason,

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<v Speaker 5>then throw them out of office.

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<v Speaker 4>Let them go somewhere else.

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<v Speaker 1>The Lieutenant governor's office is a largely ceremonial office where

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<v Speaker 1>the real power comes if the governor were to die

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<v Speaker 1>in office, take another job, become incapacitated, leave the state

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<v Speaker 1>for a long period of time, whatever. The last time

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<v Speaker 1>the lieutenant governor has taken over was when Goodwood Night

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<v Speaker 1>Goodie Knight took over when Earl Warren was appointed to

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<v Speaker 1>the Supreme Court by President Eisenhower. However, this time around

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<v Speaker 1>it could happen again. And I say that because in

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<v Speaker 1>recent polls, Javier Bessera has started to move up and

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<v Speaker 1>he is placed in the top two in several recent polls.

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<v Speaker 1>There's a chance a good chance maybe that he could

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<v Speaker 1>make the November ballot. There's also a chance that he

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<v Speaker 1>could be indicted by the federal government, as we have

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<v Speaker 1>seen his chief of staff cut a deal with the

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<v Speaker 1>Feds for corruption. We have seen Dana Williamson, who is

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<v Speaker 1>the chief of staff, former chief of staff, I should

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<v Speaker 1>say of Galvin Newsom, who has worked closely with Javier

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<v Speaker 1>Besserra on his various political endeavors, also reportedly cutting a

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<v Speaker 1>deal with the Feds, and a third person very close

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<v Speaker 1>to Besserah is also in trouble right now with the

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<v Speaker 1>federal government regarding corruption. If he were to be indicted,

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<v Speaker 1>my guess is there's a chance he could have to

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<v Speaker 1>resign from office, or if he's convicted, maybe he would

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<v Speaker 1>go to federal prison. Do you see that as a

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<v Speaker 1>possibility as you've run for the office of lieutenant governor,

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<v Speaker 1>It is a very real possibility.

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<v Speaker 5>And the position of lieutenant governor number two in the

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<v Speaker 5>state of California has always been overlooked. It can no

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<v Speaker 5>longer continue to be overlooked, and so we need to

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<v Speaker 5>get somebody in there. I believe it's me who's independent.

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<v Speaker 5>I am a Republican in terms of my political registration,

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<v Speaker 5>a former Democrat who saw the failure of a Democrat

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<v Speaker 5>party unwilling to stand up for California's middle class and

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<v Speaker 5>working class, dictater to far left special interest and I,

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<v Speaker 5>as they say, the party left me. I walked away

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<v Speaker 5>though eventually and just said no more. The people deserve better.

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<v Speaker 5>But we need to have somebody in there who won't

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<v Speaker 5>just replicate the same policies of the corrupt administration that

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<v Speaker 5>we see in one that may come after us. So

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<v Speaker 5>you're exactly right on the question of the role of

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<v Speaker 5>the lieutenant governor. I think historically it's been treated as

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<v Speaker 5>sort of a Seinfeld, a job about nothing. But I

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<v Speaker 5>also believe that this has every potential if you get

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<v Speaker 5>a strong person in.

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<v Speaker 4>There who knows what can be done, who knows where

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<v Speaker 4>the bodies are buried, the rules of the game.

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<v Speaker 5>How to work budget, how to work across the aisle,

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<v Speaker 5>Republican and a Democrat as well, because once you finish

0:13:18.920 --> 0:13:19.920
<v Speaker 5>the campaign.

0:13:19.600 --> 0:13:22.040
<v Speaker 4>You have to govern, and that's one thing that I

0:13:22.120 --> 0:13:22.760
<v Speaker 4>know how to do.

0:13:22.880 --> 0:13:25.960
<v Speaker 5>And the time that I spent in Sacramento before people

0:13:26.040 --> 0:13:29.800
<v Speaker 5>know that I worked across the aisle to get tough

0:13:29.880 --> 0:13:33.440
<v Speaker 5>things done, like even some significant education. Before that, I

0:13:33.520 --> 0:13:37.440
<v Speaker 5>worked with with a governor of a party of which

0:13:37.440 --> 0:13:39.720
<v Speaker 5>I was not a part of at that time. So

0:13:39.760 --> 0:13:41.839
<v Speaker 5>you've got to get some good, strong people in there

0:13:41.840 --> 0:13:45.640
<v Speaker 5>who are fair, have integrity, and who believe in sunshine

0:13:45.720 --> 0:13:48.160
<v Speaker 5>in government. And that's something where I have a track

0:13:48.280 --> 0:13:52.480
<v Speaker 5>record on writing laws, bringing forth legislation that allows the

0:13:52.520 --> 0:13:57.559
<v Speaker 5>people of California to see what their own government is doing,

0:13:57.960 --> 0:14:01.360
<v Speaker 5>unlike what we see happening today and Sacramentum.

0:14:02.440 --> 0:14:06.040
<v Speaker 1>Let's switch gears here for a second, because we do

0:14:06.120 --> 0:14:10.000
<v Speaker 1>have some hard numbers in terms of what ballots have been.

0:14:09.880 --> 0:14:12.040
<v Speaker 3>Returned and who's turning them in.

0:14:12.760 --> 0:14:16.480
<v Speaker 1>At this point in twenty twenty two, Democrats represented fifty

0:14:16.520 --> 0:14:20.200
<v Speaker 1>four percent of the ballots returned. At this point in

0:14:20.240 --> 0:14:25.200
<v Speaker 1>this election, they represent forty two percent. They're down twelve

0:14:25.240 --> 0:14:28.320
<v Speaker 1>points from where they were four years ago. At this

0:14:28.400 --> 0:14:32.080
<v Speaker 1>point in twenty twenty two, Republicans represented twenty six percent

0:14:32.160 --> 0:14:36.320
<v Speaker 1>of the ballots turned in. Now they represent thirty seven percent.

0:14:36.800 --> 0:14:41.600
<v Speaker 1>That's an increase in eleven points. Independents represented twenty percent

0:14:41.760 --> 0:14:45.480
<v Speaker 1>in twenty twenty two and twenty one percent in twenty

0:14:45.720 --> 0:14:49.600
<v Speaker 1>twenty six. That's up one point. Why is it do

0:14:49.640 --> 0:14:52.920
<v Speaker 1>you think that Republicans are turning their ballots in at

0:14:52.960 --> 0:14:56.680
<v Speaker 1>a faster pace this time than last time. And why

0:14:56.680 --> 0:14:58.320
<v Speaker 1>have Democrats fallen off a cliff?

0:15:00.200 --> 0:15:03.640
<v Speaker 5>Well, first of all, congratulation Republicans. I think Republicans are

0:15:03.760 --> 0:15:08.000
<v Speaker 5>highly motivated have begun to see that we have had

0:15:08.040 --> 0:15:11.240
<v Speaker 5>an administration that has been derelict in its duty and

0:15:11.280 --> 0:15:14.000
<v Speaker 5>responsibility to the people under.

0:15:13.720 --> 0:15:15.200
<v Speaker 4>The California Constitution.

0:15:16.240 --> 0:15:19.880
<v Speaker 5>Additionally, though, I do think that the Democrats are still

0:15:20.080 --> 0:15:21.720
<v Speaker 5>sort of befuddled over.

0:15:22.000 --> 0:15:24.360
<v Speaker 4>This is it, This is the best you have to

0:15:24.480 --> 0:15:25.000
<v Speaker 4>send us.

0:15:25.360 --> 0:15:29.040
<v Speaker 5>So there's a real dismay amongst everyday voters, every day

0:15:29.120 --> 0:15:33.120
<v Speaker 5>Democrats just saying, you know, who are these people? There's

0:15:33.120 --> 0:15:37.200
<v Speaker 5>no real, you know, shining star in that pool for

0:15:37.480 --> 0:15:40.480
<v Speaker 5>to become governor of the state of California. And then

0:15:40.600 --> 0:15:45.320
<v Speaker 5>we saw that the Democrat Party itself basically was going

0:15:45.400 --> 0:15:48.360
<v Speaker 5>to try to I believe, cover up the sins and

0:15:48.440 --> 0:15:52.200
<v Speaker 5>scandals of their former leader until they saw, oh no,

0:15:52.320 --> 0:15:55.600
<v Speaker 5>this information is coming out. So they basically threw the

0:15:55.680 --> 0:15:59.640
<v Speaker 5>equivalent of the horses hit and the mafioso move against

0:15:59.720 --> 0:16:02.400
<v Speaker 5>Eric's swallwell to get him out of the race, and

0:16:02.520 --> 0:16:05.720
<v Speaker 5>thinking that everything will consolidate now. But it hasn't. It's

0:16:05.720 --> 0:16:08.760
<v Speaker 5>still all over the map. I think ultimately, you know,

0:16:08.800 --> 0:16:12.720
<v Speaker 5>the Democrat party machine is very strong. They are holding

0:16:12.840 --> 0:16:15.960
<v Speaker 5>on too ballots. Would I anticipate there's going to be

0:16:16.000 --> 0:16:19.160
<v Speaker 5>a last minute surge. Remember the governor's sort of teasing

0:16:19.240 --> 0:16:22.080
<v Speaker 5>that on a rare occasion when he was in California.

0:16:22.120 --> 0:16:24.880
<v Speaker 5>I think, but teasing we have a you know, break

0:16:24.920 --> 0:16:28.760
<v Speaker 5>the glass in case of strategy, Make no doubt about it.

0:16:28.800 --> 0:16:31.680
<v Speaker 4>I think they're harvesting the ballots. They're holding on to them.

0:16:32.080 --> 0:16:35.520
<v Speaker 5>Maybe the envelopes are still unsealed, get ready to change

0:16:35.520 --> 0:16:38.120
<v Speaker 5>in case they need to at the last minute change votes.

0:16:38.440 --> 0:16:40.560
<v Speaker 5>But the machine is not going to give up easily.

0:16:40.640 --> 0:16:44.120
<v Speaker 5>So they're holding on. Expect a surge, which means for

0:16:44.280 --> 0:16:49.480
<v Speaker 5>everybody else, Republicans, independents, and I'm going to say common

0:16:49.600 --> 0:16:53.960
<v Speaker 5>sense disaffected Democrats who don't want to go along with

0:16:54.040 --> 0:16:57.680
<v Speaker 5>the old party line. I think these people encourage you

0:16:57.880 --> 0:17:00.720
<v Speaker 5>come out and vote. We've got to make it too

0:17:00.800 --> 0:17:04.840
<v Speaker 5>big to rig, and hopefully to get some clear trends

0:17:04.880 --> 0:17:08.159
<v Speaker 5>by election night so that even when that surge of

0:17:08.240 --> 0:17:11.399
<v Speaker 5>votes perhaps comes in later, they can't turn around the

0:17:11.480 --> 0:17:14.399
<v Speaker 5>vote and can't fool us with some obscure moves, but

0:17:14.480 --> 0:17:16.200
<v Speaker 5>I think we have to be ready for all.

0:17:16.400 --> 0:17:18.359
<v Speaker 4>The important thing is, don't.

0:17:18.119 --> 0:17:20.879
<v Speaker 5>Worry about who's voting right now. It's a moment in

0:17:20.960 --> 0:17:24.600
<v Speaker 5>time seven days. You know, it's like two minutes in

0:17:24.640 --> 0:17:28.479
<v Speaker 5>a baseball in a basketball game. It'll go quickly and

0:17:28.640 --> 0:17:31.679
<v Speaker 5>anything can happen in those final two minute warnings. So

0:17:32.119 --> 0:17:35.080
<v Speaker 5>we are in the final week. Don't worry about what

0:17:35.119 --> 0:17:37.760
<v Speaker 5>the other teams are doing. Keep turning in your ballots,

0:17:37.880 --> 0:17:40.480
<v Speaker 5>turn them in, turn them in, get every neighbor out.

0:17:41.000 --> 0:17:43.480
<v Speaker 5>And I think if we do that, we continue with

0:17:43.520 --> 0:17:46.920
<v Speaker 5>the momentum and we can prevail and avoid the pitfalls

0:17:47.160 --> 0:17:51.879
<v Speaker 5>and potential greater chances to try to opfu, skate and

0:17:52.000 --> 0:17:56.760
<v Speaker 5>erase our vote that may happen right after election day,

0:17:56.840 --> 0:17:59.879
<v Speaker 5>because remember they will still be counting. We have to

0:18:00.080 --> 0:18:03.360
<v Speaker 5>have a clear trend by the evening of election night.

0:18:03.520 --> 0:18:05.800
<v Speaker 5>Let's shoot for that, but we got to get our ballots.

0:18:05.840 --> 0:18:10.120
<v Speaker 1>In last question, we have about sixty seconds left. How

0:18:10.200 --> 0:18:12.879
<v Speaker 1>much of the enthusiasm do you think can be attributed

0:18:12.920 --> 0:18:16.880
<v Speaker 1>to Spencer Pratt Because his ads have gone viral. He's

0:18:16.960 --> 0:18:20.400
<v Speaker 1>being covered on TMZ and forums that don't typically cover

0:18:20.480 --> 0:18:23.720
<v Speaker 1>California politics. Every time he puts a new ad out,

0:18:23.760 --> 0:18:27.000
<v Speaker 1>It's all over all of my social media feeds. People

0:18:27.000 --> 0:18:30.040
<v Speaker 1>are texting it to me, emailing it to me. There

0:18:30.080 --> 0:18:32.959
<v Speaker 1>seems to be a real appetite for that message, and

0:18:33.200 --> 0:18:37.320
<v Speaker 1>he has people engaged who typically don't engage in politics.

0:18:38.720 --> 0:18:41.720
<v Speaker 4>I'm a fan of Spencer Pratt. I've already voted for him.

0:18:42.119 --> 0:18:45.000
<v Speaker 5>He says it this, He says, Look, I'm not a Republican,

0:18:45.119 --> 0:18:46.480
<v Speaker 5>Independent or Democrat.

0:18:46.760 --> 0:18:50.000
<v Speaker 4>I'm an angry voter. They burn my house down, and.

0:18:50.000 --> 0:18:54.200
<v Speaker 5>Every Californian should take that Spencer Pratt message. Whatever label

0:18:54.280 --> 0:18:57.640
<v Speaker 5>we put behind our name, we are an angry Californian.

0:18:57.720 --> 0:19:01.560
<v Speaker 5>But we believe that we can make California golden again,

0:19:01.800 --> 0:19:02.440
<v Speaker 5>and we're going.

0:19:02.400 --> 0:19:03.679
<v Speaker 4>To show up and stand up.

0:19:03.880 --> 0:19:06.520
<v Speaker 5>If Spencer Pratt and his family can do it and

0:19:06.600 --> 0:19:09.840
<v Speaker 5>they got burned out of their home, we can do

0:19:10.000 --> 0:19:12.960
<v Speaker 5>that as well. So in solidarity with Spencer, but in

0:19:13.040 --> 0:19:16.040
<v Speaker 5>solidary with the people of California, let's show up to

0:19:16.160 --> 0:19:19.120
<v Speaker 5>vote and just end the insanity that we have lived

0:19:19.200 --> 0:19:22.199
<v Speaker 5>under for the last sixteen years. And it starts with

0:19:22.240 --> 0:19:26.440
<v Speaker 5>Spencer Pratt. In Los Angeles, Gloria Romero for Lieutenant Governor.

0:19:26.680 --> 0:19:31.160
<v Speaker 5>We can join a formidable partnership to turn around our

0:19:31.200 --> 0:19:32.119
<v Speaker 5>state once again.

0:19:33.040 --> 0:19:36.480
<v Speaker 1>Gloria Romero, candidate for Lieutenant governor here in the state

0:19:36.560 --> 0:19:39.520
<v Speaker 1>of California. You can get her online at Gloria Romero

0:19:39.600 --> 0:19:43.159
<v Speaker 1>the number four ltgov dot com and you can.

0:19:43.000 --> 0:19:44.560
<v Speaker 3>Follow her on exit. Gloria J.

0:19:44.800 --> 0:19:48.160
<v Speaker 1>Romero, Senator Gloria Romero, thanks so much for stopping by.

0:19:49.680 --> 0:19:50.120
<v Speaker 4>Thank you.

0:19:51.160 --> 0:19:52.840
<v Speaker 1>If you'd like to email the show, you can do

0:19:53.040 --> 0:19:55.840
<v Speaker 1>so at Johnny don't like show at gmail dot com.

0:19:55.960 --> 0:19:59.359
<v Speaker 1>That's Johnny don't like show at gmail dot com.

0:20:00.000 --> 0:20:00.679
<v Speaker 3>You don't forget.

0:20:00.720 --> 0:20:03.400
<v Speaker 1>On election Day, which is June the second, a week

0:20:03.480 --> 0:20:06.000
<v Speaker 1>from today, we'll be doing double duty.

0:20:06.600 --> 0:20:09.440
<v Speaker 3>In addition to noon to three, Randy.

0:20:09.160 --> 0:20:11.680
<v Speaker 1>And I'll be back at seven o'clock at night all

0:20:11.720 --> 0:20:15.600
<v Speaker 1>the way until nine covering all the election returns here

0:20:15.640 --> 0:20:18.840
<v Speaker 1>in the state of California. We'll be on KABC in

0:20:18.920 --> 0:20:23.760
<v Speaker 1>southern California, KSFO in the Bay Area, and KMJ in

0:20:23.800 --> 0:20:27.440
<v Speaker 1>Fresno and the Central Valley, so hopefully you'll be able

0:20:27.440 --> 0:20:28.159
<v Speaker 1>to tune into that.

0:20:29.000 --> 0:20:29.280
<v Speaker 2>Well.

0:20:29.359 --> 0:20:33.400
<v Speaker 1>Today was a big day on Wall Street, yet another record.

0:20:33.800 --> 0:20:37.720
<v Speaker 1>The S and P five hundred and NASDAK set new

0:20:38.000 --> 0:20:42.640
<v Speaker 1>records today. Of course, the s and P five hundred

0:20:42.720 --> 0:20:46.439
<v Speaker 1>and NASDAK. They've been setting new records again and again

0:20:46.520 --> 0:20:50.520
<v Speaker 1>and again and again. The stock market right now is cooking.

0:20:51.480 --> 0:20:53.960
<v Speaker 1>Joining us to talk about this is the host of

0:20:54.040 --> 0:20:57.600
<v Speaker 1>YouTube's Dumb Money Live, who's an investor best known for

0:20:57.680 --> 0:21:00.800
<v Speaker 1>turning a twenty thousand dollars broke you count and eighty

0:21:00.840 --> 0:21:05.520
<v Speaker 1>million dollars using unconventional socially driven investment strategies. You can

0:21:05.520 --> 0:21:08.600
<v Speaker 1>get them online at dumb money dot tv and follow

0:21:08.640 --> 0:21:12.120
<v Speaker 1>him on x at Chris Camillo. Chris Camillo, Welcome.

0:21:14.119 --> 0:21:15.560
<v Speaker 2>How are you doing? Good to be here?

0:21:16.119 --> 0:21:19.159
<v Speaker 1>I'm great, Thanks so much for stopping by. So the

0:21:19.240 --> 0:21:22.520
<v Speaker 1>stock market right now is as hot as my angels

0:21:22.560 --> 0:21:23.119
<v Speaker 1>are cold.

0:21:23.600 --> 0:21:24.560
<v Speaker 3>Are you surprised?

0:21:26.880 --> 0:21:30.080
<v Speaker 2>No, not, not in the least. I've been in the

0:21:30.080 --> 0:21:34.000
<v Speaker 2>game a long time. And you know, rather than kind

0:21:34.000 --> 0:21:37.680
<v Speaker 2>of start with the stock market hot, I'd rather start

0:21:37.840 --> 0:21:41.600
<v Speaker 2>with the fact that we're going through a structural technological

0:21:42.480 --> 0:21:45.879
<v Speaker 2>leap unlike we've ever seen in our lifetime. So the

0:21:45.920 --> 0:21:49.480
<v Speaker 2>stock market is simply a reflection of what's happening in

0:21:49.480 --> 0:21:52.840
<v Speaker 2>the world with artificial intelligence and what's about to come

0:21:52.880 --> 0:21:54.040
<v Speaker 2>the next decade. I think.

0:21:55.080 --> 0:21:58.360
<v Speaker 1>So you think people who are currently investing, provided they're

0:21:58.400 --> 0:22:01.240
<v Speaker 1>investing the right way, they're in the water right as

0:22:01.240 --> 0:22:02.240
<v Speaker 1>the waves about to hit.

0:22:04.520 --> 0:22:06.439
<v Speaker 2>Well, you know, it's hard to say that there's you know,

0:22:07.200 --> 0:22:10.480
<v Speaker 2>you either believe that what we're seeing right now is

0:22:10.600 --> 0:22:14.640
<v Speaker 2>very real. And if you spend time working with AI

0:22:14.800 --> 0:22:18.080
<v Speaker 2>directly or spend all the time deeply engage with those

0:22:18.080 --> 0:22:21.360
<v Speaker 2>that are working with AI directly, I think you come

0:22:21.359 --> 0:22:23.439
<v Speaker 2>to terms with the fact that the biggest thing to

0:22:23.480 --> 0:22:27.600
<v Speaker 2>ever happen to our global economy, and we'll have massive

0:22:27.600 --> 0:22:31.320
<v Speaker 2>implications both good and bad, on various sectors and companies,

0:22:31.480 --> 0:22:34.200
<v Speaker 2>and a lot of the stock market the last couple

0:22:34.200 --> 0:22:36.639
<v Speaker 2>of years has been carried by a small number of

0:22:36.680 --> 0:22:41.840
<v Speaker 2>companies that I think have earned the right to kind

0:22:41.840 --> 0:22:46.080
<v Speaker 2>of get the you know, majority of benefits in terms

0:22:46.119 --> 0:22:50.120
<v Speaker 2>of cash and flows in that they're you know, ideally

0:22:50.200 --> 0:22:52.280
<v Speaker 2>positioned to win in this new world.

0:22:53.600 --> 0:22:55.640
<v Speaker 1>And I've seen that You've said before that you think

0:22:55.760 --> 0:22:58.320
<v Speaker 1>essentially that AI is going to hit in three different

0:22:58.359 --> 0:23:01.760
<v Speaker 1>stages and or about ready to get hit by the

0:23:01.800 --> 0:23:02.520
<v Speaker 1>third stage.

0:23:04.680 --> 0:23:07.480
<v Speaker 2>Yeah, I think investors that have done the best over

0:23:07.480 --> 0:23:10.000
<v Speaker 2>the last few years have always been a steps ahead.

0:23:10.359 --> 0:23:13.240
<v Speaker 2>If you think about this as being like an AI

0:23:13.359 --> 0:23:18.880
<v Speaker 2>super cycle, which I often cite. There was a phase one,

0:23:19.080 --> 0:23:21.720
<v Speaker 2>which was that magical moment we remember when we first

0:23:21.720 --> 0:23:24.919
<v Speaker 2>hopped on chat GPT and we thought, Wow, this is

0:23:25.000 --> 0:23:27.600
<v Speaker 2>this thing can think, or at least pretend to think

0:23:27.760 --> 0:23:32.600
<v Speaker 2>really well, it's almost like magic, and it's the change

0:23:32.640 --> 0:23:35.359
<v Speaker 2>of the world. And a lot of money was thrown

0:23:35.440 --> 0:23:39.199
<v Speaker 2>at the companies that were responsible for building that technology,

0:23:39.280 --> 0:23:43.040
<v Speaker 2>which was open AI and Thropic and Google and a

0:23:43.040 --> 0:23:48.479
<v Speaker 2>couple others. The second wave of the AI supercycle was

0:23:48.760 --> 0:23:52.840
<v Speaker 2>what's commonly referred to now as the infrastructure layer. So

0:23:53.000 --> 0:24:00.080
<v Speaker 2>all the companies that were responsible for providing the technology

0:24:00.119 --> 0:24:07.720
<v Speaker 2>that enabled that step up, you know in use cases,

0:24:08.200 --> 0:24:13.760
<v Speaker 2>so the chip companies like in Nvidia, the data center companies,

0:24:15.119 --> 0:24:20.120
<v Speaker 2>energy companies, all the companies across the entire supply chain

0:24:20.760 --> 0:24:26.520
<v Speaker 2>that enables artificial intelligence. That's all part of the infrastructure

0:24:26.600 --> 0:24:29.400
<v Speaker 2>wave that has just been going on for a while now,

0:24:29.440 --> 0:24:32.480
<v Speaker 2>and it's been unlike anything we've ever seen before, quite

0:24:32.480 --> 0:24:38.480
<v Speaker 2>honestly and probably deservedly. So. The third wave, which I

0:24:38.640 --> 0:24:43.320
<v Speaker 2>believe is imminent to probably at most two to three

0:24:43.359 --> 0:24:46.919
<v Speaker 2>years away, is what I'm calling the efficiency wave. So

0:24:47.880 --> 0:24:51.560
<v Speaker 2>this is a transition from the companies that are building

0:24:51.640 --> 0:24:55.600
<v Speaker 2>the shovels to make I possible, to the companies that

0:24:55.640 --> 0:25:02.560
<v Speaker 2>are actually utilizing AI health to become meaningfully more productive

0:25:02.600 --> 0:25:05.840
<v Speaker 2>and efficient. So if you think about this next wave

0:25:06.720 --> 0:25:10.320
<v Speaker 2>as being any company that has a high cost structure,

0:25:10.480 --> 0:25:14.040
<v Speaker 2>and as we know, most companies in twenty twenty six

0:25:14.119 --> 0:25:18.480
<v Speaker 2>have very high cost structures because most companies are reliant

0:25:18.640 --> 0:25:21.880
<v Speaker 2>on employing a lot of humans that have gotten really

0:25:21.920 --> 0:25:25.080
<v Speaker 2>expensive over the past ful of decades. So as those

0:25:25.119 --> 0:25:28.520
<v Speaker 2>companies start to become more efficient as they utilize AI

0:25:28.880 --> 0:25:35.000
<v Speaker 2>to do competitive tasks, even high level strategy. We saw

0:25:35.080 --> 0:25:39.240
<v Speaker 2>this month Ken Griffin at Citadel, who manages one of

0:25:39.240 --> 0:25:42.320
<v Speaker 2>the largest, most sophisticated hedge funds in the world, come

0:25:42.359 --> 0:25:45.080
<v Speaker 2>out and say that he could barely sleep because he

0:25:45.200 --> 0:25:48.040
<v Speaker 2>saw AI doing some of the most sophisticated jobs at

0:25:48.040 --> 0:25:51.640
<v Speaker 2>his company and better than any of his human employees.

0:25:52.320 --> 0:25:56.800
<v Speaker 2>As we start to see companies transitioning to a much

0:25:57.280 --> 0:26:02.520
<v Speaker 2>more efficient style of an intelligence as opposed to human labor,

0:26:03.359 --> 0:26:09.840
<v Speaker 2>that should reflect more productivity, high multiples for those companies,

0:26:10.520 --> 0:26:15.520
<v Speaker 2>and the impact I believe will be much broader than

0:26:15.560 --> 0:26:19.840
<v Speaker 2>what we've seen during this instructure wave, meaning that more

0:26:19.880 --> 0:26:22.879
<v Speaker 2>companies will benefit, and I think we'll see a broader

0:26:23.960 --> 0:26:29.360
<v Speaker 2>increase in valuations across the entire stock market as opposed

0:26:29.400 --> 0:26:32.760
<v Speaker 2>to just ten or twenty companies that were positioned to

0:26:32.960 --> 0:26:36.080
<v Speaker 2>fuel AI. I think it will be a really exciting

0:26:36.160 --> 0:26:39.040
<v Speaker 2>time for investors, and I believe that will be the

0:26:39.040 --> 0:26:42.520
<v Speaker 2>next kind of meaningful leg up of the market, even

0:26:42.600 --> 0:26:46.600
<v Speaker 2>though most here are very concerned that the market feels

0:26:46.640 --> 0:26:48.320
<v Speaker 2>poppy and overvalued.

0:26:49.960 --> 0:26:52.320
<v Speaker 1>Do you think that this wave is strong enough that

0:26:52.400 --> 0:26:55.520
<v Speaker 1>it can withstand if there's global instability, if there's another

0:26:55.560 --> 0:26:59.000
<v Speaker 1>war that breaks out, or we're broadcasting here in California,

0:26:59.040 --> 0:27:01.960
<v Speaker 1>where we talk about the failures of our state government

0:27:02.119 --> 0:27:04.879
<v Speaker 1>on a regular basis. We are a very poorly run state.

0:27:05.320 --> 0:27:08.480
<v Speaker 1>Many of these companies are headquartered here. Some of them

0:27:08.520 --> 0:27:11.760
<v Speaker 1>have already moved out, but obviously when you talk about

0:27:11.800 --> 0:27:14.440
<v Speaker 1>these data centers and the energy that's required and those

0:27:14.480 --> 0:27:18.320
<v Speaker 1>sorts of things, California has fallen on its face in

0:27:18.359 --> 0:27:21.480
<v Speaker 1>any number of occasions. Do you think that this wave

0:27:21.560 --> 0:27:25.560
<v Speaker 1>is strong enough to withstand things that are beyond their control.

0:27:27.320 --> 0:27:30.800
<v Speaker 2>Well, I do know one thing for sure, and that

0:27:32.200 --> 0:27:34.240
<v Speaker 2>is there are going to be a lot of ups

0:27:34.280 --> 0:27:40.359
<v Speaker 2>and downs right over the next few years. These sorts,

0:27:40.400 --> 0:27:45.320
<v Speaker 2>this sort of efficiency doesn't necessarily happen overnight, So there

0:27:45.400 --> 0:27:48.840
<v Speaker 2>will be moments, whether it was you know, the tariffs

0:27:48.840 --> 0:27:52.800
<v Speaker 2>are last year, whether it was the Iran war this year,

0:27:53.080 --> 0:27:55.480
<v Speaker 2>it will be something else, I'm sure later on this

0:27:55.640 --> 0:28:00.520
<v Speaker 2>year and then again in twenty twenty seven that will

0:28:00.600 --> 0:28:05.160
<v Speaker 2>seem meaningfully more negative at least in the short term,

0:28:05.640 --> 0:28:09.440
<v Speaker 2>as opposed to the positive ultimate income that we think

0:28:09.480 --> 0:28:12.320
<v Speaker 2>we're going to get from AI in the long term.

0:28:12.440 --> 0:28:15.200
<v Speaker 2>So I think we're going to see a tremendous amount

0:28:15.200 --> 0:28:20.600
<v Speaker 2>of volatility. But to answer your question, yes, ultimately, I

0:28:20.760 --> 0:28:24.639
<v Speaker 2>think this AI cycle that we're in, of course of

0:28:24.680 --> 0:28:28.480
<v Speaker 2>the next five or ten years, we can avoid blowing

0:28:28.520 --> 0:28:31.760
<v Speaker 2>each other up with AI, right, if we can avoid

0:28:31.880 --> 0:28:36.440
<v Speaker 2>the worst of all worst case scenarios. I do think

0:28:36.960 --> 0:28:41.600
<v Speaker 2>that this is the main character in the storeline for

0:28:41.640 --> 0:28:45.560
<v Speaker 2>the next decade, and all of the things that you

0:28:45.600 --> 0:28:50.080
<v Speaker 2>are referring to. I'm a fairly optimistic guy. I think

0:28:50.120 --> 0:28:53.120
<v Speaker 2>over the long run, AI is actually going to help

0:28:53.320 --> 0:28:56.560
<v Speaker 2>solve those problems as well. You know, we are all

0:28:56.640 --> 0:29:00.720
<v Speaker 2>frustrated by government. You know, we're all frustrated by bureaucracy.

0:29:02.040 --> 0:29:05.760
<v Speaker 2>You know, we are scared to death about how we

0:29:05.800 --> 0:29:11.120
<v Speaker 2>interact with other nations, especially volatile nations like Iran and

0:29:11.600 --> 0:29:14.720
<v Speaker 2>whoever happens to be leading our country at that time.

0:29:15.000 --> 0:29:18.280
<v Speaker 2>Do we have the proper you know, people in place

0:29:18.360 --> 0:29:20.960
<v Speaker 2>to actually you know, get us over the goal line

0:29:21.040 --> 0:29:24.320
<v Speaker 2>in these negotiations with other countries. I think EI is

0:29:24.360 --> 0:29:27.640
<v Speaker 2>actually going to be one of the most powerful tools

0:29:27.720 --> 0:29:32.720
<v Speaker 2>at our disposal long term to solve those problems where

0:29:32.880 --> 0:29:37.720
<v Speaker 2>historically we've been really frustrated at how some humans have

0:29:37.920 --> 0:29:43.040
<v Speaker 2>handled those scenarios, especially as it relates to the way

0:29:43.120 --> 0:29:45.760
<v Speaker 2>government is run. I mean, if no one's really talking

0:29:45.800 --> 0:29:50.520
<v Speaker 2>about this yet, but AI has the capacity to maybe

0:29:50.560 --> 0:29:56.800
<v Speaker 2>be the most positive impactful thing that we've seen government

0:29:57.200 --> 0:29:59.800
<v Speaker 2>really in our history. So, you know, right at a

0:29:59.840 --> 0:30:02.560
<v Speaker 2>time time when we're more concerned about government officials than

0:30:02.560 --> 0:30:05.200
<v Speaker 2>we ever have been in government waste and you know,

0:30:05.320 --> 0:30:10.400
<v Speaker 2>dirty politics, could AI be this illusion? I actually think

0:30:10.400 --> 0:30:12.280
<v Speaker 2>it might be. Not that we're going to let AI

0:30:12.440 --> 0:30:16.560
<v Speaker 2>run wild and run our government force, you know, unsupervised,

0:30:17.320 --> 0:30:19.720
<v Speaker 2>but I think at some point it's going to get

0:30:19.800 --> 0:30:24.360
<v Speaker 2>really difficult to overrule what we believe will be of

0:30:24.600 --> 0:30:28.360
<v Speaker 2>higher level of intelligence. It's telling us, hey, here's how

0:30:28.400 --> 0:30:30.920
<v Speaker 2>you can run a great government. Here's how you can

0:30:30.960 --> 0:30:34.760
<v Speaker 2>fix the problems that your voters want to fix. You know,

0:30:34.760 --> 0:30:37.720
<v Speaker 2>if you think about it, most issues we've had at

0:30:37.720 --> 0:30:40.440
<v Speaker 2>the government level has been about communication. I mean, I

0:30:40.480 --> 0:30:43.720
<v Speaker 2>know the parties disagree with each other in some regard,

0:30:44.960 --> 0:30:50.080
<v Speaker 2>but I think with most of the problems, both parties

0:30:50.880 --> 0:30:53.120
<v Speaker 2>ultimately want to get to the same outcome, and they

0:30:53.200 --> 0:30:55.400
<v Speaker 2>just degree on how to get there. I think AI

0:30:55.520 --> 0:30:56.360
<v Speaker 2>is going to help us that.

0:30:57.280 --> 0:30:59.760
<v Speaker 1>Well, maybe you're right, maybe AI will save us because

0:30:59.760 --> 0:31:02.120
<v Speaker 1>if AI comes out with the sex robots, people will

0:31:02.160 --> 0:31:03.800
<v Speaker 1>be less pissed off and they won't want to go

0:31:03.840 --> 0:31:04.160
<v Speaker 1>to war.

0:31:05.720 --> 0:31:07.720
<v Speaker 2>I wasn't even going to go there, but you know what,

0:31:08.320 --> 0:31:11.280
<v Speaker 2>here you go. I mean, there's a lot of positives

0:31:11.320 --> 0:31:14.880
<v Speaker 2>that are potentially out there, right why. I mean, there's just,

0:31:14.960 --> 0:31:17.800
<v Speaker 2>quite honestly, there's almost an infant number of ways that

0:31:17.880 --> 0:31:21.440
<v Speaker 2>AI could make the world better, right. I think along

0:31:21.520 --> 0:31:23.840
<v Speaker 2>that path there will be hurdles.

0:31:25.880 --> 0:31:27.920
<v Speaker 1>Do you think the public will embrace it? And I

0:31:27.960 --> 0:31:32.680
<v Speaker 1>say that because let's say American Airlines comes up with

0:31:33.000 --> 0:31:36.400
<v Speaker 1>AI technology that will allow the planes to fly without

0:31:36.440 --> 0:31:39.719
<v Speaker 1>the need of pilots. You still have to get people

0:31:39.840 --> 0:31:43.200
<v Speaker 1>to buy into it to be willing to sit in

0:31:43.240 --> 0:31:46.480
<v Speaker 1>an airplane seat on a jet that doesn't have a

0:31:46.520 --> 0:31:47.560
<v Speaker 1>pilot in the cockpit.

0:31:50.400 --> 0:31:55.200
<v Speaker 2>The public will eventually embrace it. It's just like self driving, right, Like,

0:31:55.440 --> 0:31:58.080
<v Speaker 2>did you think ten years ago we'd have cars flying

0:31:58.120 --> 0:32:01.520
<v Speaker 2>around the city with no drivers in them? The point

0:32:01.880 --> 0:32:06.760
<v Speaker 2>that's actually insane. I mean there are people and kids

0:32:06.840 --> 0:32:09.800
<v Speaker 2>walking across the street, and we have, you know, six

0:32:09.880 --> 0:32:14.160
<v Speaker 2>thousand pound vehicles with no drivers in them flying around corners.

0:32:14.680 --> 0:32:17.040
<v Speaker 2>So I think if we were able to embrace that

0:32:17.200 --> 0:32:20.600
<v Speaker 2>on the timeline that we did, there's no doubt in

0:32:20.600 --> 0:32:25.000
<v Speaker 2>my mind that we will embrace AI for everything. Will

0:32:25.040 --> 0:32:29.560
<v Speaker 2>there be people pushing back at every step along the way,

0:32:29.600 --> 0:32:32.720
<v Speaker 2>of course there will be, But there's never been a

0:32:32.760 --> 0:32:37.160
<v Speaker 2>time in history when we have an ultimately embraced advancement.

0:32:37.280 --> 0:32:40.920
<v Speaker 2>You really don't have a choice, right because if you

0:32:41.000 --> 0:32:44.840
<v Speaker 2>don't embrace it, someone else will and you'll get left behind.

0:32:45.360 --> 0:32:49.640
<v Speaker 2>So I have I'm completely confident that we will ultimately

0:32:49.720 --> 0:32:53.480
<v Speaker 2>embrace this technology. I also think that there will be

0:32:53.680 --> 0:32:57.840
<v Speaker 2>an equal amount of thirst for what we're leaving behind.

0:32:58.280 --> 0:33:00.800
<v Speaker 2>I think humans are really concerned learn that there is

0:33:00.920 --> 0:33:03.600
<v Speaker 2>no place for humans in the future. I completely disagree.

0:33:04.600 --> 0:33:08.080
<v Speaker 2>I think AI is going to allow us to expand enterprise,

0:33:08.560 --> 0:33:14.480
<v Speaker 2>expand new ideas, expand economies unlike we've ever seen in

0:33:14.520 --> 0:33:18.120
<v Speaker 2>our lifetime. I think there will be companies with less

0:33:18.160 --> 0:33:22.080
<v Speaker 2>people per company or less people per project, but I

0:33:22.080 --> 0:33:26.880
<v Speaker 2>think there will be infinitely more projects, infinitely more problems

0:33:26.920 --> 0:33:32.520
<v Speaker 2>getting solved, infinitely more companies new issues we can't even

0:33:32.560 --> 0:33:35.640
<v Speaker 2>imagine today, because once we solve these problems, we'll use

0:33:35.680 --> 0:33:38.640
<v Speaker 2>AI and robotics and automation to do things that we

0:33:38.720 --> 0:33:42.800
<v Speaker 2>never thought were even possible before. So I think if

0:33:42.840 --> 0:33:47.400
<v Speaker 2>you think that way, AI will actually end up creating

0:33:47.800 --> 0:33:52.480
<v Speaker 2>more and better and more creative jobs than we have

0:33:52.600 --> 0:33:54.400
<v Speaker 2>today twenty years from now.

0:33:54.800 --> 0:33:55.120
<v Speaker 3>Now.

0:33:55.240 --> 0:33:58.800
<v Speaker 2>What happens over the next decade, I can't say. There

0:33:58.800 --> 0:34:01.920
<v Speaker 2>will be bumps along the road. Will have to figure

0:34:02.000 --> 0:34:06.080
<v Speaker 2>that out as a society, and I think we will.

0:34:06.160 --> 0:34:08.279
<v Speaker 1>I did a Q and A with an economist at

0:34:08.320 --> 0:34:11.640
<v Speaker 1>the California Club not long ago where we were talking

0:34:11.640 --> 0:34:15.120
<v Speaker 1>about the wave came before AI, where bitcoin was the

0:34:15.120 --> 0:34:19.439
<v Speaker 1>big thing, and he said, that's decentralized where you could

0:34:19.440 --> 0:34:22.359
<v Speaker 1>be in Idaho, or you could be in Thailand, you

0:34:22.360 --> 0:34:27.120
<v Speaker 1>could be in Europe, whatever, and bitcoin is so decentralized

0:34:27.200 --> 0:34:29.919
<v Speaker 1>you didn't have to be in one place, and he said,

0:34:29.960 --> 0:34:32.520
<v Speaker 1>AI is the opposite. And a lot of these companies

0:34:32.560 --> 0:34:35.640
<v Speaker 1>are headquartered in the San Francisco Bay Area where we're

0:34:35.640 --> 0:34:39.080
<v Speaker 1>broadcasting right now, where the people who work there are

0:34:39.120 --> 0:34:42.520
<v Speaker 1>people who are working under one roof. And because of that,

0:34:42.920 --> 0:34:47.680
<v Speaker 1>because California is the epicenter of AI, one of the

0:34:47.719 --> 0:34:51.880
<v Speaker 1>most undervalued assets on planet Earth is real estate in

0:34:51.920 --> 0:34:55.160
<v Speaker 1>the San Francisco Bay Area because that industry is going

0:34:55.200 --> 0:34:57.440
<v Speaker 1>to explode and it's taking place right there.

0:35:00.040 --> 0:35:03.439
<v Speaker 2>I think that's a fair assessment, you know, I really do.

0:35:03.560 --> 0:35:08.680
<v Speaker 2>There is a huge concentration of talent in that area.

0:35:08.760 --> 0:35:11.080
<v Speaker 2>We saw We saw it during the dot com boom

0:35:11.200 --> 0:35:16.080
<v Speaker 2>right we're seeing it again now. And I think it

0:35:16.200 --> 0:35:20.480
<v Speaker 2>ultimately maybe will benefit in terms of I don't even

0:35:20.520 --> 0:35:22.120
<v Speaker 2>want to use the word benefit because I think a

0:35:22.120 --> 0:35:23.799
<v Speaker 2>lot of people will see it as a negative. But

0:35:24.520 --> 0:35:28.320
<v Speaker 2>I think there's going to be another kind of rush

0:35:28.719 --> 0:35:33.760
<v Speaker 2>for an inflationary period of real estate values and everything

0:35:33.800 --> 0:35:38.200
<v Speaker 2>else where. There's going to be a concentration of new wealth.

0:35:38.880 --> 0:35:41.120
<v Speaker 2>I think this is going to bring such a massive

0:35:41.160 --> 0:35:44.720
<v Speaker 2>amount of new wealth to certain areas of the world

0:35:45.200 --> 0:35:49.400
<v Speaker 2>that have high concentration of people who are benefiting most

0:35:50.000 --> 0:35:53.600
<v Speaker 2>from the artificial intelligence cycle, and a lot of that

0:35:53.680 --> 0:35:56.000
<v Speaker 2>is where these companies sent. You're exactly right. I mean

0:35:56.239 --> 0:35:59.240
<v Speaker 2>I saw an article that said there's a few hundred

0:35:59.680 --> 0:36:02.759
<v Speaker 2>few hundred millionaires worth one hundred million or more that

0:36:02.800 --> 0:36:05.120
<v Speaker 2>are about to pop up in Austin, Texas when the

0:36:05.239 --> 0:36:10.560
<v Speaker 2>spacexcile happens. So yeah, I think you will see it

0:36:10.960 --> 0:36:11.520
<v Speaker 2>in that area.

0:36:12.360 --> 0:36:14.800
<v Speaker 3>Are there any specific companies when you can look.

0:36:14.600 --> 0:36:18.000
<v Speaker 2>At And by the way, every time California get itself

0:36:18.040 --> 0:36:20.960
<v Speaker 2>into a hole, every time California gets itself into a

0:36:20.960 --> 0:36:24.680
<v Speaker 2>hole something like that, this tends to happen right where

0:36:24.680 --> 0:36:27.160
<v Speaker 2>all of a sudden you have just a massive amount

0:36:27.160 --> 0:36:32.319
<v Speaker 2>of new wealth, and that wealth ends up resulting in

0:36:32.640 --> 0:36:37.479
<v Speaker 2>more tax revenue. That tax revenue generally tends to save

0:36:37.560 --> 0:36:42.839
<v Speaker 2>California out of its hole. Right, state will more likely

0:36:42.880 --> 0:36:46.000
<v Speaker 2>than not spend again, and the cycle starts over. I

0:36:46.000 --> 0:36:48.799
<v Speaker 2>don't know how many cycles we have left, but it's

0:36:48.840 --> 0:36:51.879
<v Speaker 2>ironic that here we are again and it might ai

0:36:52.040 --> 0:36:53.440
<v Speaker 2>might actually save California.

0:36:53.920 --> 0:36:56.319
<v Speaker 1>Well, unfortunately, you're right. I just wish we wouldn't have

0:36:56.360 --> 0:36:58.440
<v Speaker 1>to be hanging off the cliff to get there. But

0:36:59.000 --> 0:37:01.840
<v Speaker 1>that seems to be the pattern that we follow. We

0:37:01.920 --> 0:37:05.160
<v Speaker 1>have about sixty seconds left as you take a look

0:37:05.200 --> 0:37:07.600
<v Speaker 1>at your assessment of where we're headed and where this

0:37:07.680 --> 0:37:10.359
<v Speaker 1>industry is. Are there any companies where you look at

0:37:10.400 --> 0:37:12.719
<v Speaker 1>you go, oh my god. If there's one place to

0:37:12.760 --> 0:37:15.400
<v Speaker 1>put the farm, because this company is going to benefit

0:37:15.440 --> 0:37:18.719
<v Speaker 1>more than anyone else from this technology, that would be it.

0:37:20.320 --> 0:37:22.880
<v Speaker 2>Yeah. I mean, listen, I don't make recommendations for others,

0:37:22.920 --> 0:37:26.080
<v Speaker 2>but my largest holding is Amazon. I think they're ideally

0:37:26.120 --> 0:37:31.239
<v Speaker 2>positive benefit from all of those games of a high

0:37:31.280 --> 0:37:33.719
<v Speaker 2>for the most part, right, so, they are deep in

0:37:33.760 --> 0:37:37.120
<v Speaker 2>the infrastructure layer with AWS. They make trainium ships, which

0:37:37.160 --> 0:37:39.719
<v Speaker 2>is I think a fifty billion dollar division, which is

0:37:39.760 --> 0:37:41.960
<v Speaker 2>one of a small foal of AI chip companies in

0:37:42.000 --> 0:37:45.640
<v Speaker 2>the world. But they also will benefit meaningfully from this

0:37:45.719 --> 0:37:49.360
<v Speaker 2>efficiency wave through their retail division. Right. Amazon spent twenty

0:37:49.400 --> 0:37:54.680
<v Speaker 2>five years building out world structure and logistics, and as

0:37:54.719 --> 0:37:58.319
<v Speaker 2>AI automation robotics start to hit next day, I can't

0:37:58.360 --> 0:38:02.319
<v Speaker 2>think of a company that be more efficiencies uh in

0:38:02.440 --> 0:38:06.200
<v Speaker 2>margin increase than Amazon globally. And they're also the third

0:38:06.280 --> 0:38:09.560
<v Speaker 2>largest digital advertising company in the world. Ad tizing is

0:38:09.600 --> 0:38:14.319
<v Speaker 2>about to become more targeted, more efficient, more personalised, and

0:38:14.680 --> 0:38:19.200
<v Speaker 2>just contextually more rich. And when we have better, more

0:38:19.239 --> 0:38:23.080
<v Speaker 2>targeted advertising that people relate to, the advertising mediums win.

0:38:23.120 --> 0:38:25.959
<v Speaker 2>And you know Amazon's the top three company that space too,

0:38:26.360 --> 0:38:30.759
<v Speaker 2>So you're getting like an entire flywheel of efficiency at Amazon.

0:38:31.480 --> 0:38:34.520
<v Speaker 2>So if you believe we're going through a structural change,

0:38:34.600 --> 0:38:37.759
<v Speaker 2>that will only be bigger and bigger year after year.

0:38:38.320 --> 0:38:41.800
<v Speaker 2>I love Amazon here as a company that doesn't really

0:38:41.880 --> 0:38:47.120
<v Speaker 2>get the respect it deserves as a beneficiary of the

0:38:47.160 --> 0:38:47.920
<v Speaker 2>AI cycle.

0:38:49.000 --> 0:38:52.440
<v Speaker 1>Chris Camillo, host of YouTube's Dumb Money Live. You can

0:38:52.440 --> 0:38:55.760
<v Speaker 1>get them online at dumb Money dot tv and follow

0:38:55.800 --> 0:38:58.640
<v Speaker 1>him on x at Chris Camillo. Chris Camillo, thanks so

0:38:58.719 --> 0:39:00.320
<v Speaker 1>much for stopping by.

0:39:00.800 --> 0:39:02.120
<v Speaker 2>Of course, anytime Happy.

0:39:03.040 --> 0:39:06.080
<v Speaker 1>I'll be back tomorrow at noon, and hopefully Randy'll make

0:39:06.120 --> 0:39:08.560
<v Speaker 1>his flight and he'll be back tomorrow as well.

0:39:08.880 --> 0:39:09.399
<v Speaker 3>See you then,