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Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News.

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Speaker 2: Hey, everybody's business listeners. Max Schaffkin here along with Stacey

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Speaker 2: Bannock Smith and we are taking our show on the road, maybe.

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Speaker 3: Down down the road, Down the road.

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Speaker 2: I will be in Lower Manhattan on May fifth, five

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Speaker 2: point thirty pm for a special live version of this

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Speaker 2: podcast at New York's Ludlow House. We'd love you to

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Speaker 2: join us.

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Speaker 4: We will be talking about summer travel, because is everything

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Speaker 4: happening in our world right now going to ruin everyone's vacations.

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Speaker 3: Obviously not the.

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Speaker 4: Most important thing happening right now, but pretty important. I

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Speaker 4: think a lot of us count on a little break

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Speaker 4: in the summer, and between high gas prices and geopolitical

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Speaker 4: turmoil and flight cancelations, a lot of those plans are

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Speaker 4: in jeopardy. But there are some tricks and some tips

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Speaker 4: that you can use to navigate our brave new world.

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Speaker 3: And we will be talking about all those.

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Speaker 2: Yeah, and we're gonna have a little help Bloomberg's own

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Speaker 2: travel czar, Nikki Extein. That is her official title, by

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Speaker 2: the way, And Stacy, I am so excited about this.

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Speaker 2: Brian Kelly aka the Points the Points Guy, Points.

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Speaker 3: Guy, I got so many questions for him. You're not

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Speaker 3: gonna want.

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Speaker 2: To miss this. You gotta listen to this episode hopefully

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Speaker 2: live before you book your summer travel.

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Speaker 3: There are a few seats left. They are saved just

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Speaker 3: for you.

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Speaker 4: You can go to on air Presents dot com, scroll

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Speaker 4: down until you see an image of the show of

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Speaker 4: our faces of me and Max. You can tap on

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Speaker 4: our faces and request an invite. That's on air Presents

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Speaker 4: dot com and tap the request and invite button.

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Speaker 2: Hope to see you there on the fifth.

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Speaker 3: Okay, Max to the show.

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Speaker 4: This week, we are focusing on two lawsuits, lawsuits that

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Speaker 4: will potentially shape our future in technology and in health.

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Speaker 2: Yeah. The first one is open ai, which is facing

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Speaker 2: a legal battle with Elon Musk, who started the company

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Speaker 2: with CEO Sam Altman, initially as an nonprofit that would

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Speaker 2: benefit humanity. I'd say, Stacey, they have both taken it

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Speaker 2: in another direction. Now they're definitely not a nonprofit fighting

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Speaker 2: about it in court in Oakland. And meanwhile, while that

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Speaker 2: is happening, open ai has another plan, another way to

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Speaker 2: increase its profits.

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Speaker 5: If you have this AI technology, you don't want to

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Speaker 5: be reliant on Apple for connecting with your customers. You

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Speaker 5: want your own product, your own ecosystem that customers can

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Speaker 5: go out and buy. And so this is why they're

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Speaker 5: all trying to build hardware, and this is why Opena

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Speaker 5: wants to build its own hardware.

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Speaker 3: Yes.

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Speaker 4: Now, the second lawsuit has to do with the Make

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Speaker 4: America Healthy Again movement. The Supreme Court is hearing a

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Speaker 4: case right now that will decide whether the company Bear,

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Speaker 4: which owns the weedkiller roundup, can be shielded from lawsuits

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Speaker 4: from people who say that roundup made them sick.

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Speaker 6: For Democrats, I think it's been a huge miss for

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Speaker 6: them to not be pushing this harder. I mean it

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Speaker 6: it is extre like by definition, a kitchen table issue,

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Speaker 6: because it's not the food on our kitchen. The agricultural

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Speaker 6: industry is also very powerful and very dispersed around the country.

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Speaker 6: And so you know, the Democrats, I think, had so

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Speaker 6: many opportunities to really own the food issue and never

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Speaker 6: took it.

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Speaker 2: This is everybody's business. From BusinessWeek, I'm Max Chafkin.

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Speaker 3: And I'm Stacey Vannicksmith. Today on the show, what happens to.

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Speaker 4: A mission when the lawsuits start and when that mission

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Speaker 4: starts to get expensive? Stay with us Stacey.

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Speaker 2: Open ai keeps finding its way onto this show for

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Speaker 2: all sorts of reasons, which makes sense because it's one

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Speaker 2: of the most popular AI chatbots. It has evaluation of

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Speaker 2: eight hundred and fifty billion, plans to go even bigger.

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Speaker 2: They are trying to go public at some point this year. Meanwhile,

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Speaker 2: a lot of analysts think there's a bubble now as

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Speaker 2: we record open ai as beating back reports which it denies,

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Speaker 2: saying it is missing its internal projections. Regardless, AI has

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Speaker 2: been a huge story here and you really can't talk

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Speaker 2: about it without talking about this company.

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Speaker 4: Yes, and there is a strong chance that as you

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Speaker 4: are listening to us right now, you are listening to

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Speaker 4: us on a smartphone. And there is also a strong

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Speaker 4: chance that on that very smartphone you have chat GBT

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Speaker 4: or some other similar appic Claude, these apps, this technology,

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Speaker 4: it is just transforming our lives and will soon very

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Speaker 4: likely be transforming our phones and maybe all of our hardware.

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Speaker 2: Yeah, these AI companies want to make phones, and so

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Speaker 2: we wanted to kind of do a little early market

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Speaker 2: research for this. Yes, so we sent our producer Miles J.

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Speaker 2: Herzenhorn to the streets of New York to ask people.

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Speaker 2: First of all, how often do they even get a

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Speaker 2: new phone? How often do they upgrade? And would they

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Speaker 2: consider upgrading to a phone that has a lot more

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Speaker 2: AI in it?

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Speaker 7: How old is your cell phone? I don't know, I

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Speaker 7: have no idea.

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Speaker 3: Probably, uh, since two years old.

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Speaker 2: I upgrad my phone about like one year to two years.

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Speaker 2: But now recently it's been like every you know, two

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Speaker 2: to three years since like technology has been like plotlen

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Speaker 2: five years and minus two. How often do you try

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Speaker 2: to create your phone.

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Speaker 3: Every two years old two years.

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Speaker 8: When it's like stop, stop working because of the battery

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Speaker 8: and all that stuff.

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Speaker 9: Yeah, same once it for each five six years something

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Speaker 9: like that.

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Speaker 8: Not often unless something happens to my phone. I really

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Speaker 8: don't care what extent you're looking forward to having AI

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Speaker 8: technology in your phone.

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Speaker 2: So I actually deal with like AI just a little bit.

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Speaker 2: I don't think that there is like a sort of

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Speaker 2: a need. I think the whole like SERI thing kind

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Speaker 2: of like flopted out.

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Speaker 8: I don't even use it, the artificial intelligent part, because somehow,

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Speaker 8: in the back of my mind I think it's creeping

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Speaker 8: into my privacy. I get a little bit paranoid about it.

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Speaker 2: So no, I think it's accelerating too fast. It's making

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Speaker 2: people lazy and not the thing for themselves, taking away

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Speaker 2: their ability to learn. I really respect the utmost respect

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Speaker 2: the person who said she doesn't know when she got

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Speaker 2: her phone. That is awesome. I feel like the longer

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Speaker 2: you can go, the better.

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Speaker 4: I remember when I got my phone, but only because

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Speaker 4: it was right before the tariffs.

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Speaker 3: It was right, it was right after a liberation day.

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Speaker 3: I ran out and got it.

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Speaker 2: I'm probably I'm probably going to get a new phone

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Speaker 2: because like I write about technology, and I have to,

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Speaker 2: but I would love to get to a place where

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Speaker 2: I just I don't replace it unless I drop it

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Speaker 2: in the ocean. Do you drop my ambition accidentally? I

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Speaker 2: don't know. We have a great person to talk about this,

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Speaker 2: Bloomberg Managing editor of Consumer Technology, Mark German. He is

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Speaker 2: the person in this newsroom that I talked to when

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Speaker 2: I want to understand really anything about the kind of

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Speaker 2: personal hardware that defines our lives. Increasingly. He covers Apple

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Speaker 2: like the gadget, he covers gadgets in general. Mark, Welcome

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Speaker 2: to everybody's business.

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Speaker 7: Thanks for having me. Glad to be here.

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Speaker 2: Okay, so we wanted to talk to you because open

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Speaker 2: Ai right now they're in the news. There is a

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Speaker 2: very interesting trial going on in Oakland between Elon Musk

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Speaker 2: and Sam Altman. There have been a swirl of reports

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Speaker 2: around open AI's valuation and are they hitting their metrics,

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Speaker 2: is there enough usage? Is there an ai bubble? And

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Speaker 2: there's also this kind of weird report that came out

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Speaker 2: earlier this week that open ai is getting closer to

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Speaker 2: developing some consumer hardware, particularly a smartphone. And leaving aside

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Speaker 2: the Musk drama the valuation, can you just try to

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Speaker 2: explain to us why they're doing this and what exactly

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Speaker 2: we think they're doing.

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Speaker 5: Yeah, we've known for some time now that open ai

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Speaker 5: has ambitions in hardware. Johnny Ive, who just taking a

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Speaker 5: step back here, who ran design for Apple. He left

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Speaker 5: in twenty nineteen and after that he started up a

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Speaker 5: design shop with another designer named Mark Newsome, and it's

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Speaker 5: called Blove from based in San Francisco.

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Speaker 7: And they've done some one off things.

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Speaker 5: They've worked with the UK government on a font, they

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Speaker 5: created a lamp that you take sailing. They've done other

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Speaker 5: fun quirky ti I believe interior ever Ferrari.

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Speaker 3: These are very odd undertakings.

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Speaker 5: They're all niche right, Yes, Johnny Ive is known for

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Speaker 5: all the Apple products we used today. The Apple Watch

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Speaker 5: was his brainchild, and he had this, you know, arrangement

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Speaker 5: with Apple where couldn't really get into the consumer electronics game.

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Speaker 5: I would guess for a three year period and whatnot

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Speaker 5: a non compete, a non.

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Speaker 7: Compete type of thing.

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Speaker 5: And he worked with Apple posts departure as well. They

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Speaker 5: did some one off work together on a contractual basis,

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Speaker 5: but that all ended around twenty twenty two. And the

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Speaker 5: guy who helped make the consumer tech we use every day,

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Speaker 5: he's going to have the etch to get back into

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Speaker 5: the game. So around then he started working on a

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Speaker 5: startup called io at the time, and the idea was

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Speaker 5: to create AI hardware and AI devices. And early on

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Speaker 5: in that process he got introduced to Sam Altman and

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Speaker 5: saw what he was doing with chat, GPT and open

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Speaker 5: ai and his thinking at the time, Johnny I's thinking

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Speaker 5: was AI is going to enable entirely new wave of

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Speaker 5: consumer hardware and consumer technology. You know, he had this

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Speaker 5: idea where people have become too addicted to screens and

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Speaker 5: their phones and headsets and whatnot, and he felt that

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Speaker 5: AI could help him recreate these devices in a way

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Speaker 5: that would counter this addiction, counter people being glued to

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Speaker 5: their displays and their phones and iPads at all times.

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Speaker 5: And so they partnered together and Sam Altman was part

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Speaker 5: of this Io to a certain extent, and Johnny I

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Speaker 5: have brought in a bunch of the best that you

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Speaker 5: you saw at Apple working on products there. From an

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Speaker 5: ip standpoint, you can likely argue with it, but from

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Speaker 5: a talent perspective, it's hard to argue that they're getting

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Speaker 5: the best of the best there. But now Io is

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Speaker 5: part of open Ai and they are working on what

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Speaker 5: they say is a family of AI devices. My understanding

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Speaker 5: is that they're looking and working on basically everything you

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Speaker 5: can imagine. But the one thing you really need if

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Speaker 5: you want to be a successful consumer electronics company is

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Speaker 5: something you can put in your pocket, right, And we

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Speaker 5: think of a phone today as this smartphone, this slab

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Speaker 5: of glass with this display, but really a phone could

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Speaker 5: be anything with cellular connectivity that allows you to make

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Speaker 5: phone calls. And so the ultimate goal has been from

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Speaker 5: the beginning for open ai to create an iPhone killer,

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Speaker 5: an aiphone from the ground up, and that's what I

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Speaker 5: expect them to do before the end of the decade,

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Speaker 5: but certainly that's not going to be their first device.

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Speaker 5: Anticipate their first device being more of an accessory, something

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Speaker 5: in the smart speaker, earbuds, smart glasses, realm and then

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Speaker 5: eventually I think that'll all make way towards the open aiphone.

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Speaker 4: Why would they want to get into the hardware business.

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Speaker 4: The hardware business is so tough. I feel like a

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Speaker 4: lot of great companies tried and failed to make a phone.

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Speaker 4: Anthropic is going in a much different, more sort of

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Speaker 4: software driven direction from what I understand. Why is AI

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Speaker 4: going in this direction.

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Speaker 5: It's the same reason that you've seen Amazon in the

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Speaker 5: past look at making a phone. It's the same reason

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Speaker 5: why Google makes a phone. It's the same reason as

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Speaker 5: companies make aphone, Facebook try to make a phone. And

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Speaker 5: it's the reason right now why Meta is all in

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Speaker 5: on building its own array of AI hardware devices. You know,

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Speaker 5: they hired Alan I, the head of User interface at Apple,

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Speaker 5: at the end of last year and now he's driving

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Speaker 5: the work along with their CTO Andrew Bosworth, on making

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Speaker 5: an array of AI devices.

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Speaker 7: Why.

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Speaker 5: Because Apple owns the consumer technology landscape, because they are

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Speaker 5: the hardware player.

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Speaker 7: They are the.

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Speaker 5: Platform, and if you have this AI technology, you don't

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Speaker 5: want to be reliant on Apple for connecting with your customers.

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Speaker 5: You want your own product, your own ecosystem the customers

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Speaker 5: can go out and buy and so this is why

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Speaker 5: they're all trying to build hardware, and this is why

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Speaker 5: Opena wants to build its own hardware. They don't want

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Speaker 5: to rely on Apple being the distribution point for chech

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Speaker 5: ebt and their technology. They want to be their own distributor.

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Speaker 5: They don't want to abide by Apples app store rules.

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Speaker 5: They don't want to abide by Apples software development kits.

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Speaker 5: They don't want to abide by what Apple allows and

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Speaker 5: doesn't allow to run on their products. They want to

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Speaker 5: issue their own products to consumers and have their technology

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Speaker 5: on top of it and their own app store on

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Speaker 5: top of it. They don't want to be within Apple's

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Speaker 5: walled garden. They want to create their own garden.

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Speaker 2: We should talk about what's happening in Apple, but before

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Speaker 2: we get there, Mark, does it create any kind of

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Speaker 2: cause for concern in your mind? Stacy mentioned this. Anthropic

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Speaker 2: has had a lot of success marketing to businesses. We've

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Speaker 2: seen reports that open Ai, according to The Wall Street Journal,

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Speaker 2: which open Ai denied, was missing its revenue projections. This

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Speaker 2: is a very competitive space. Do you have any sense

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Speaker 2: that this is a company that is scrambling to find

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Speaker 2: a way to continue growing, that there is maybe even

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Speaker 2: like a hint of desperation in this ambition, just because

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Speaker 2: so many companies have done this, have tried to do this,

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Speaker 2: and they have failed pretty miserably. We could probably debate

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Speaker 2: on the Google one, because Android is very successful, but

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Speaker 2: there isn't like a big track record of tech companies

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Speaker 2: attempting to compete with Apple and Samsung here and winning.

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Speaker 5: Yeah, but open Ai and Sam Altman have this secret

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Speaker 5: sauce that is AI for all intents and purposes. They

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Speaker 5: were the pioneer here. They do probably have still even

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Speaker 5: though Claude is up there and Gemini is up there.

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Speaker 5: Some of the best underlying AI technology, some of the

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Speaker 5: best AI researchers, and that's a huge differentiator from what

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Speaker 5: you have at Apple. And so if anyone is going

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Speaker 5: to reinvent the hardware game, it's going to be open Ai.

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Speaker 5: But I don't think that this is a serious issue

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Speaker 5: for Apple. And if open ai ends up doing anything

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Speaker 5: successful I think Apple's just going to copy them really quickly.

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Speaker 5: So I'm not too worried for Apple there. The one

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Speaker 5: concern I do have for Apple is in terms of

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Speaker 5: brain drain and talent drain. Anything that Apple's doing Open

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Speaker 5: Ai has hired from to a very large degree, and

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Speaker 5: so that's the scary part for Apple if they're losing

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Speaker 5: too many people to be able to keep up the

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Speaker 5: pace of their own hardward development.

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Speaker 2: Mark. We've seen a couple of efforts to create these

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Speaker 2: like AI devices. There was a company called Humane. You

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Speaker 2: test the product, I think you might have called it

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Speaker 2: like one of the worst products. I can't remember the

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Speaker 2: exact wording. I don't know.

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Speaker 7: It is the worst product I've ever used.

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Speaker 2: It was it was it was like a little pin

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Speaker 2: that you wore on your chest, and the idea was

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Speaker 2: like instead of looking at a screen, you would just

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Speaker 2: talk to a chatbot. And it had all sorts of problems.

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Speaker 2: The big problem, Mark, correct me if I'm fung is

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Speaker 2: it got really hot because of all the computing that

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Speaker 2: was happening, and the heat would both be uncomfortable, but

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Speaker 2: also the battery would die relicly.

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Speaker 3: There were all these pugs set fire to your shirt.

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Speaker 5: Okay, Well, the biggest issue is that you know, voice

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Speaker 5: interact already is not a perfect science. Perfect science is

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Speaker 5: point and click with your computer or touch screen on

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Speaker 5: your iPad or phone or whatever. Right, but interactivity over

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Speaker 5: voice sometimes it doesn't understand you. It's difficult to go

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Speaker 5: back and forth. But theirs was just so slow. It

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Speaker 5: just didn't work properly. That the bar was already so high,

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Speaker 5: and they just did a horrible job implementation wise. The

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Speaker 5: other thing they tried to do was replace the display

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Speaker 5: with a laser system that you put your hand in

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Speaker 5: front of it and it points a laser, and so

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Speaker 5: it's a laser projection screen on your own band, and

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Speaker 5: it just did not work well. Cool concept, but didn't

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Speaker 5: work well.

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Speaker 4: Mark, you mentioned that you thought open Air, or I

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Speaker 4: think from what I remember, you mentioned that open Ai

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Speaker 4: by the in ten years would have an iPhone killer.

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Speaker 3: Do you think that is true?

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Speaker 4: Do you think Apple, for all of its muscle and

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Speaker 4: market dominance right now, could be taken out by open Ai.

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Speaker 7: I don't think they're going to be taken up I

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Speaker 7: open Ai.

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Speaker 3: I think iPhone killers happening.

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Speaker 5: I well, sure it could be an iPhone killer, but

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Speaker 5: it's not going to be an iPhone replacement, if that

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Speaker 5: makes sense. It might be better than the iPhone from

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Speaker 5: a technical perspective, but I think Apple's brand and marketing

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Speaker 5: is so strong that they're not going to go away,

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Speaker 5: and they're going to evolve very quickly. At some point,

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Speaker 5: these AI models are going to become commoditized. Eventually, Apple's

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Speaker 5: going to make acquisitions here, and so I think they'll

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Speaker 5: be able to get up the snuff in this AI

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Speaker 5: game in fairly short order. But like you mentioned, the

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Speaker 5: priority right now is becoming the AI middleman to play

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Speaker 5: nicely with everyone else's AI.

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Speaker 2: Mark before we wrap. I think a lot of people

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Speaker 2: who are maybe not following this conversation as closely as

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Speaker 2: we are, certainly not as closely as you are. I

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Speaker 2: have this kind of question over like why do you

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Speaker 2: have to keep replacing your iPhone? You know, there was

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Speaker 2: the battery Gate controversy that had to do with basically

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Speaker 2: class action lawsuit saying Apple was deliberately slowing down its batteries.

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Speaker 2: I think there's a feeling among a lot of users

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Speaker 2: that like, why these iPhones they kind of look the same,

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Speaker 2: Like why am I being made to upgrade I'm curious,

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Speaker 2: like what your personal upgrade philosophy is, Like, how often

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Speaker 2: do you get a new phone? Maybe you answer that,

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Speaker 2: but then answer it if you weren't Mark German, who's

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Speaker 2: got to be trying out the latest and greatest.

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Speaker 5: Me personally, I've upgraded every year to the new iPhone.

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Speaker 5: You probably don't need to get a new iPhone if

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Speaker 5: you are not deep in the technology. See the thing

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Speaker 5: with me is I write about Apple. I write about tech,

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Speaker 5: but that's not just my job. I live and breathe

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Speaker 5: Apple and tech and devices as my personal passion and

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Speaker 5: life's work and a hobby. And you know the thing

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Speaker 5: that I'm most interested in life. I love basketball too.

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Speaker 5: I love sports too. You know, some people are just

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Speaker 5: obsessed with that or cars. But for me, this is

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Speaker 5: not a job. It's my whole life. I am unique

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Speaker 5: in that from that standpoint. Someone who does not live

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Speaker 5: and breathe this stuff, you're probably good every three years,

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Speaker 5: maybe four.

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Speaker 2: Mark German, thank you for being here. Check out his

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Speaker 2: newsletter Power On. If you're not already a subscriber, you

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Speaker 2: should be. We really appreciate the time.

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Speaker 7: Thank you both so much.

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Speaker 4: All right, Max, I have a question for you Okay,

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Speaker 4: when was the last time you thought about what is

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Speaker 4: on your salad?

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Speaker 2: Stacy every single day? Every day I did. Is it

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Speaker 2: like more of a vinaigrette? Is it a sort of

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Speaker 2: a ranch a caesar? Yes?

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Speaker 4: I always wonder what you're thinking about when you're sitting

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Speaker 4: at your desk, And now I know. Actually a lot

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Speaker 4: of people do not spend as much time thinking about

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Speaker 4: what's on their salad as one must. But there is

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Speaker 4: a growing group of Americans who are thinking about it

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Speaker 4: a lot. And this week a big group of them,

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Speaker 4: hundreds of them, showed up outside of the Supreme Court.

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Speaker 4: They are part of the MAHA movement. This is make

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Speaker 4: America Healthy Again.

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Speaker 2: Yes, gotcha.

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Speaker 4: And this rally is organized around a Supreme Court decision

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Speaker 4: involving Bear, which is the company that makes the weak

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Speaker 4: killer round up.

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Speaker 2: They don't want pesticides on their salad.

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Speaker 3: It is the pesticides on the sality.

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Speaker 2: Actually round up as an herbicide, I believe, but I'm

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Speaker 2: not a scientist.

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Speaker 6: Pesticide is a term that applies to all the sides,

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Speaker 6: so herbicides are included in the term.

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Speaker 2: Oh thank you, and joining us now is business Suite

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Speaker 2: side expert Dina Shanker. She's also a commist here, our colleague.

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Speaker 2: She was at the rally. She wrote about it in

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Speaker 2: her column Extra Salt, Dina, welcome back to everybody's business.

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Speaker 9: Thank you so much for having me.

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Speaker 4: All right, So, Dina, why were these protesters outside the

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Speaker 4: Supreme Court talk to us about this case?

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Speaker 3: Okay?

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Speaker 2: Great?

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Speaker 6: So we all know Monsanto the company that makes or

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Speaker 6: that made glyfa sate also known as Roundup. They got

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Speaker 6: acquired by Bayer some years back, and since then, Beyer

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Speaker 6: has been hit by lawsuit after lawsuit by plaintiffs claiming

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Speaker 6: that glyfasate caused their cancer.

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Speaker 9: They have had to pay out.

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Speaker 3: They ate vegetables that had been treated with this.

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Speaker 6: A lot of farmers and people that work with the

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Speaker 6: pesticide got sick from working with it. But although I

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Speaker 6: can't say for sure whether there's also there's so many

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Speaker 6: of these cases, I could.

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Speaker 9: Not tell you whether there's consumers in there too.

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Speaker 6: So far, already Beyer has paid out over ten billion dollars,

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Speaker 6: including legal costs, but as well as payouts because juries have.

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Speaker 9: Found in favor of the plaintiffs.

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Speaker 6: So Beyer, right now in front of the Supreme Court

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Speaker 6: is trying to get a liability shield, specifically about their

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Speaker 6: failure to warn over the cause of cancer and relationships

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Speaker 6: with clife essafe.

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Speaker 4: So they're getting in trouble for not saying using this

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Speaker 4: product could harm you.

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Speaker 9: That's right.

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Speaker 6: They're trying to say, we don't have to put it

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Speaker 6: on the label because the EPA said we don't have

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Speaker 6: to put it on the label.

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Speaker 9: If the EPA says we don't have to put.

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Speaker 6: It on the label, we don't have to tell anybody

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Speaker 6: about it, it's fine. There's a lot of opposition to

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Speaker 6: them getting this liability shield. There's also I believe around

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Speaker 6: sixty thousand claims still outstanding against Beyer. May or may

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Speaker 6: not be impacted by the decision of the court. Beyer

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Speaker 6: has tried in other ways to get this kind of

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Speaker 6: liability shield. They're currently trying with the Farm Bill to

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Speaker 6: get it written into that. But this was about the

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Speaker 6: Supreme Court decision. Now that day at the Supreme Court,

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Speaker 6: who was arguing in favor of Beyer, but Trump administration lawyers,

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Speaker 6: which did not sit well with the Make America Healthy

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Speaker 6: Again contingent. RFK Junior was actually one of the lawyers

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Speaker 6: on the trial that found Monsanto was liable.

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Speaker 3: So he went after montandle Yes a.

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Speaker 6: Long time ago, and so he's been anti glyfasate.

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Speaker 9: For a very long time.

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Speaker 6: So his followers, the Maha voters, they are fully on

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Speaker 6: board with glivasate causes cancer and people should be warned

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Speaker 6: about it. We should reduce our use, we should get

443
00:21:47,640 --> 00:21:49,000
Speaker 6: rid of it. You know, you talk to people, they

444
00:21:49,040 --> 00:21:51,240
Speaker 6: have different plans for sort of what to do about it.

445
00:21:51,400 --> 00:21:54,720
Speaker 6: But the Trump administration has come out very pro glyfasate.

446
00:21:54,760 --> 00:21:57,560
Speaker 6: They have not only submitted an amicus brief in the

447
00:21:57,600 --> 00:22:00,320
Speaker 6: Supreme Court case and argued on its behalf. Trump also

448
00:22:00,320 --> 00:22:04,360
Speaker 6: put out an executive order basically saying that glivasate production

449
00:22:04,480 --> 00:22:07,160
Speaker 6: is a matter of national security, so that we can

450
00:22:07,160 --> 00:22:08,200
Speaker 6: have Yeah, we should say.

451
00:22:08,240 --> 00:22:11,480
Speaker 2: The argument that they're making is that this is a

452
00:22:11,640 --> 00:22:14,879
Speaker 2: really important technology for farming and that it's safe, and

453
00:22:14,880 --> 00:22:19,000
Speaker 2: that if this were not used, it would be very

454
00:22:19,080 --> 00:22:22,080
Speaker 2: damaging to American agriculture, that we wouldn't make as much

455
00:22:22,080 --> 00:22:24,479
Speaker 2: food as we make. And I think it has been

456
00:22:24,520 --> 00:22:29,160
Speaker 2: an incredibly effective herbicide. In addition to creating a swirl

457
00:22:29,400 --> 00:22:34,680
Speaker 2: of concern around around danger, harmful harm for agriculture workers

458
00:22:34,680 --> 00:22:37,000
Speaker 2: first and foremost, but also consumers, and that's I think

459
00:22:37,040 --> 00:22:39,200
Speaker 2: where the Maha movement comes in, right, these are people

460
00:22:39,320 --> 00:22:40,280
Speaker 2: who don't want to eat this.

461
00:22:40,680 --> 00:22:44,879
Speaker 6: Well, it's also a lot of regenerative agriculture advocates, and

462
00:22:45,240 --> 00:22:47,240
Speaker 6: there's a lot of talk about, yes, we can't just

463
00:22:47,280 --> 00:22:49,240
Speaker 6: flip a switch, right, we can't just get rid of

464
00:22:49,240 --> 00:22:53,160
Speaker 6: glivasate tomorrow. That would be very detrimental to food security

465
00:22:53,200 --> 00:22:55,399
Speaker 6: in this country. But we can phase it out. There

466
00:22:55,400 --> 00:22:57,439
Speaker 6: are other ways to farm. A lot of weeds are

467
00:22:57,440 --> 00:23:01,439
Speaker 6: now completely are growing resistant to round up anyway, so

468
00:23:01,480 --> 00:23:04,000
Speaker 6: it's not as effective as it used to be. So

469
00:23:04,520 --> 00:23:08,240
Speaker 6: there's a lot of people that expected this administration to

470
00:23:08,359 --> 00:23:12,040
Speaker 6: be more supportive of that position that glyfasate can be

471
00:23:12,400 --> 00:23:16,080
Speaker 6: scaled down and maybe we could align with European standards

472
00:23:16,160 --> 00:23:19,840
Speaker 6: on pesticides. But instead we've seen that this administration is

473
00:23:20,119 --> 00:23:24,240
Speaker 6: very much aligned with the agricultural industry, which very much

474
00:23:24,320 --> 00:23:27,560
Speaker 6: wants these pesticides to stay and use at current levels.

475
00:23:28,040 --> 00:23:31,119
Speaker 2: Okay, so we talked about the Supreme Court. There's this

476
00:23:31,160 --> 00:23:33,879
Speaker 2: thing going on in the Supreme Court. Trump administration and

477
00:23:33,960 --> 00:23:37,119
Speaker 2: Big Agriculture Bear which owns mont Santo, having an argument.

478
00:23:37,520 --> 00:23:40,280
Speaker 2: And then there's the Maha movement and you kind of

479
00:23:40,359 --> 00:23:42,600
Speaker 2: hinted at this, or we mentioned at the top, but

480
00:23:42,880 --> 00:23:47,960
Speaker 2: these Maha protesters are in front of the Supreme Court

481
00:23:48,200 --> 00:23:51,520
Speaker 2: or in Washington making their voices heard, which is super

482
00:23:51,520 --> 00:23:54,840
Speaker 2: interesting because first of all, they had been pro Trump,

483
00:23:54,880 --> 00:23:57,800
Speaker 2: they had helped Donald Trump get elected. It's yet another

484
00:23:57,880 --> 00:24:01,720
Speaker 2: instance of a sort of part of Trump's coalition seeming

485
00:24:01,720 --> 00:24:02,560
Speaker 2: to turn against him.

486
00:24:02,720 --> 00:24:05,720
Speaker 6: Yes, definitely, And I should say the turnout was you

487
00:24:05,760 --> 00:24:07,960
Speaker 6: were there, Yeah, I was there. It was Monday morning

488
00:24:08,000 --> 00:24:10,119
Speaker 6: in front of the Supreme Court. I was expecting a

489
00:24:10,160 --> 00:24:13,879
Speaker 6: bigger turnout, but it was a bipartisan lineup of speakers.

490
00:24:14,200 --> 00:24:17,440
Speaker 6: Democrats were also speaking as well as like MAHA leaders

491
00:24:17,480 --> 00:24:22,639
Speaker 6: and elected Republicans, but the crowd was mostly Maha people,

492
00:24:22,720 --> 00:24:26,280
Speaker 6: So people that voted for Trump, for Kennedy. Everyone was

493
00:24:26,359 --> 00:24:29,240
Speaker 6: upset with Trump. Everyone also was, I want to say,

494
00:24:30,000 --> 00:24:33,199
Speaker 6: like making excuses for Kennedy for the fact that this

495
00:24:33,320 --> 00:24:35,760
Speaker 6: was happening on his watch. He's done everything he can.

496
00:24:35,920 --> 00:24:39,240
Speaker 6: This is not his You're spoken up about this he did.

497
00:24:39,320 --> 00:24:43,560
Speaker 6: When the executive order came out, he originally kind of

498
00:24:43,560 --> 00:24:46,040
Speaker 6: backed it, saying it is a matter of national security,

499
00:24:46,040 --> 00:24:47,439
Speaker 6: but then he backtracked on it.

500
00:24:47,680 --> 00:24:49,760
Speaker 3: He round up around, Yeah.

501
00:24:49,600 --> 00:24:53,240
Speaker 6: Exactly, and like he's clearly he's clearly not happy with it,

502
00:24:53,320 --> 00:24:55,760
Speaker 6: but he's it's like, I mean, he's in a tough

503
00:24:55,760 --> 00:24:58,840
Speaker 6: spot because Trump is his boss and this is quite

504
00:24:58,920 --> 00:25:01,320
Speaker 6: antithetical to everything he has ever stood for.

505
00:25:01,560 --> 00:25:03,680
Speaker 3: So, Dina, you brought us a recording?

506
00:25:03,880 --> 00:25:04,080
Speaker 2: Yeah?

507
00:25:04,160 --> 00:25:06,160
Speaker 3: So uh and what are we about to hear?

508
00:25:06,440 --> 00:25:10,640
Speaker 6: Vonnie Harry, also known as food Babe online, she has

509
00:25:10,680 --> 00:25:12,280
Speaker 6: been an action influencer.

510
00:25:12,560 --> 00:25:14,320
Speaker 3: She is I would say she long.

511
00:25:14,160 --> 00:25:15,800
Speaker 9: Predates the influencer era.

512
00:25:16,119 --> 00:25:20,119
Speaker 6: She's a food activist who riles up all kinds of

513
00:25:20,160 --> 00:25:21,720
Speaker 6: feelings in different kinds of people.

514
00:25:21,880 --> 00:25:23,480
Speaker 9: She's been doing this for a long time.

515
00:25:23,920 --> 00:25:27,080
Speaker 6: And she used to be a Democrat and then she

516
00:25:27,240 --> 00:25:31,280
Speaker 6: switched to Republican for MAHAK once Kennedy picked that up.

517
00:25:31,359 --> 00:25:34,760
Speaker 6: I think that was when Maha really started gaining broad support.

518
00:25:34,840 --> 00:25:38,280
Speaker 6: Was because people can see those colors, they can see

519
00:25:38,320 --> 00:25:39,760
Speaker 6: it in the food that they're being served.

520
00:25:39,800 --> 00:25:41,920
Speaker 9: And then when she spoke at the.

521
00:25:42,040 --> 00:25:45,400
Speaker 6: At the rally, she was really making it clear that

522
00:25:45,440 --> 00:25:49,879
Speaker 6: she is extremely not on team Trump anymore.

523
00:25:50,320 --> 00:25:56,920
Speaker 1: Right now, inside that building, Monsanto Bear will be arguing

524
00:25:56,960 --> 00:25:59,520
Speaker 1: for the right to poison us and not be held

525
00:25:59,560 --> 00:26:03,040
Speaker 1: account of Let me say that again, they want to

526
00:26:03,080 --> 00:26:05,360
Speaker 1: give us cancer and get away with it.

527
00:26:06,320 --> 00:26:09,119
Speaker 9: We are here to make sure that does not happen,

528
00:26:10,000 --> 00:26:11,840
Speaker 9: and we are not going to leave here quietly.

529
00:26:12,920 --> 00:26:15,960
Speaker 2: Wow. The thing that I find so interesting about this,

530
00:26:16,119 --> 00:26:19,720
Speaker 2: and you're reporting on this, Dina, is that this movement

531
00:26:19,840 --> 00:26:21,800
Speaker 2: has been around for a very long time. There have

532
00:26:21,840 --> 00:26:25,840
Speaker 2: been people, especially like on the left, yelling about Monsanto

533
00:26:26,480 --> 00:26:28,639
Speaker 2: for I feel like as long as I've been alive,

534
00:26:29,240 --> 00:26:33,760
Speaker 2: and none of it has had I think, much political resonance.

535
00:26:34,040 --> 00:26:37,239
Speaker 2: There's obviously, like organic foods have grown a lot, but like,

536
00:26:37,320 --> 00:26:41,160
Speaker 2: we hadn't seen it breakthrough politically until twenty twenty four.

537
00:26:41,400 --> 00:26:43,760
Speaker 2: And I'm curious why you think that happened.

538
00:26:44,440 --> 00:26:47,760
Speaker 6: So that's such a great question because that is something

539
00:26:47,920 --> 00:26:52,400
Speaker 6: that I have asked a lot of people, including elected Democrats,

540
00:26:52,640 --> 00:26:58,320
Speaker 6: because food issues were democratic issues, they just never really

541
00:26:58,359 --> 00:26:59,760
Speaker 6: talked about them as the issue.

542
00:27:00,200 --> 00:27:01,280
Speaker 9: And that's I mean.

543
00:27:01,359 --> 00:27:05,520
Speaker 6: Remember, not only did Michelle Obama make school nutrition rules,

544
00:27:05,800 --> 00:27:09,240
Speaker 6: but she planted an organic garden on the White House lawn.

545
00:27:09,640 --> 00:27:14,560
Speaker 6: And the pesticide industry, the agricultural chemical industry, how whatever

546
00:27:14,600 --> 00:27:17,159
Speaker 6: euphemism we'd like to use for them, they wrote her

547
00:27:17,160 --> 00:27:19,720
Speaker 6: a letter and then a public letter writing campaign urging

548
00:27:19,760 --> 00:27:22,680
Speaker 6: her to use their crop protection tools as they refer

549
00:27:22,760 --> 00:27:26,040
Speaker 6: to them, and the Obamas didn't even respond to it.

550
00:27:26,160 --> 00:27:29,080
Speaker 6: And so there's a question of, like, the Democrats have

551
00:27:29,200 --> 00:27:33,119
Speaker 6: always had this position, why didn't they push it harder.

552
00:27:33,600 --> 00:27:35,800
Speaker 6: I think it's been a huge miss for them to

553
00:27:35,960 --> 00:27:37,480
Speaker 6: not be pushing this harder.

554
00:27:37,560 --> 00:27:40,159
Speaker 9: I mean it it is like, by.

555
00:27:40,040 --> 00:27:42,680
Speaker 6: Definition, a kitchen table issue, because it's not the food

556
00:27:42,800 --> 00:27:45,840
Speaker 6: on our kitchen table, and they just haven't. They just

557
00:27:45,920 --> 00:27:50,120
Speaker 6: have been pushing it here and there. The agricultural industry

558
00:27:50,160 --> 00:27:54,359
Speaker 6: is also very powerful and very dispersed around the country.

559
00:27:54,400 --> 00:27:56,200
Speaker 6: Every single state in this country has some kind of

560
00:27:56,240 --> 00:27:57,400
Speaker 6: agricultural product.

561
00:27:58,040 --> 00:28:00,880
Speaker 9: And so you know, the Democrats, I.

562
00:28:00,800 --> 00:28:04,920
Speaker 6: Think had so many opportunities to really own the food

563
00:28:04,960 --> 00:28:06,680
Speaker 6: issue and never took it.

564
00:28:07,480 --> 00:28:10,719
Speaker 2: During Trump's campaign in twenty twenty four, he did this

565
00:28:10,760 --> 00:28:14,120
Speaker 2: thing where he he was down it was brat summer.

566
00:28:14,240 --> 00:28:17,199
Speaker 2: Did I say that right? I can't. And Kamala was

567
00:28:17,200 --> 00:28:19,760
Speaker 2: on the rise. There's all this energy among Democrats and

568
00:28:19,800 --> 00:28:24,240
Speaker 2: Trump I think frantically started embracing all sorts of weird causes.

569
00:28:24,359 --> 00:28:26,480
Speaker 2: And I don't mean weird, but things that were fringe.

570
00:28:26,640 --> 00:28:31,359
Speaker 2: So he embraced crypto, he started talking about We're gonna

571
00:28:31,720 --> 00:28:34,240
Speaker 2: uncover if aliens are real. I mean he literally said

572
00:28:34,240 --> 00:28:37,480
Speaker 2: that during the campaign files Epstein files right in retrospect.

573
00:28:37,760 --> 00:28:40,959
Speaker 2: Big mistake, big political mistake for him and Maha. He

574
00:28:41,000 --> 00:28:43,320
Speaker 2: did all of these things, and he embraced the kind

575
00:28:43,400 --> 00:28:46,000
Speaker 2: of the sort of corners of the America First Movement

576
00:28:46,120 --> 00:28:48,320
Speaker 2: or whatever that are very against foreign wars. He did

577
00:28:48,360 --> 00:28:51,080
Speaker 2: all these things, He made all these promises, and in

578
00:28:51,200 --> 00:28:54,000
Speaker 2: all sorts of ways. It just may be very hard

579
00:28:54,280 --> 00:28:58,720
Speaker 2: to be simultaneously like a pro business, pro growth Republican

580
00:28:59,200 --> 00:29:02,680
Speaker 2: and somebody who is gonna satisfy the concerns of people

581
00:29:02,680 --> 00:29:05,640
Speaker 2: who really are upset about the power big agriculture.

582
00:29:06,600 --> 00:29:09,400
Speaker 6: Yeah, I think that's totally right. I also think that

583
00:29:09,480 --> 00:29:12,280
Speaker 6: they're gonna want to point to what they would consider

584
00:29:12,320 --> 00:29:15,800
Speaker 6: their major achievements, and the big one being back to

585
00:29:15,840 --> 00:29:18,280
Speaker 6: the food dies, that they got a bunch of companies

586
00:29:18,280 --> 00:29:22,000
Speaker 6: to voluntarily commit to removing food dies. But I would say, okay,

587
00:29:22,240 --> 00:29:25,320
Speaker 6: you need to do some rulemaking to actually ban those

588
00:29:25,320 --> 00:29:28,520
Speaker 6: food dies, to not just ensure that those companies will

589
00:29:28,560 --> 00:29:31,760
Speaker 6: drop them, but also that every company that makes food

590
00:29:31,800 --> 00:29:35,440
Speaker 6: can't use them. But even if they did that glyf

591
00:29:35,600 --> 00:29:41,760
Speaker 6: estate is so much more foundational to our food system

592
00:29:42,040 --> 00:29:45,240
Speaker 6: and to what a lot of people in Maha want,

593
00:29:45,400 --> 00:29:50,040
Speaker 6: which is that food should be from their perspective, safe

594
00:29:50,040 --> 00:29:53,240
Speaker 6: for everyone, or at least safe for them, because a

595
00:29:53,280 --> 00:29:54,640
Speaker 6: lot of this comes down to can you.

596
00:29:54,640 --> 00:29:56,680
Speaker 9: Afford to buy the organic.

597
00:29:56,280 --> 00:29:58,720
Speaker 6: Food because a lot of people I spoke with their

598
00:29:59,080 --> 00:30:02,560
Speaker 6: only eat or food, and glyf estate is used so.

599
00:30:02,680 --> 00:30:05,360
Speaker 9: Widely you can't really avoid it.

600
00:30:05,440 --> 00:30:08,280
Speaker 3: So what happens now with this case, we wait.

601
00:30:08,400 --> 00:30:11,520
Speaker 6: But for now I know they're trying to push through

602
00:30:11,960 --> 00:30:14,440
Speaker 6: some kind of liability shield through the farm Bill. I'm

603
00:30:14,440 --> 00:30:16,160
Speaker 6: not sure what the latest is on that. That was

604
00:30:16,200 --> 00:30:18,400
Speaker 6: like very much in motion while I was in DC

605
00:30:18,520 --> 00:30:22,520
Speaker 6: earlier this week, and I think Bayer has like a

606
00:30:22,600 --> 00:30:27,040
Speaker 6: big They have a lot of different, multifaceted strategy to

607
00:30:27,680 --> 00:30:32,000
Speaker 6: try to get themselves some kind of federal liability shield.

608
00:30:32,000 --> 00:30:34,480
Speaker 6: They actually have pushed it through in certain states, but

609
00:30:34,640 --> 00:30:36,080
Speaker 6: now they want it at a national level.

610
00:30:36,120 --> 00:30:37,640
Speaker 2: I just want to say, before we let Dana go,

611
00:30:38,480 --> 00:30:41,520
Speaker 2: if you're worried about Maha, the Maha part of Trump's

612
00:30:41,520 --> 00:30:45,240
Speaker 2: coalition collapsing, the alien coalition. He's thinking about it, because

613
00:30:45,720 --> 00:30:49,720
Speaker 2: one week ago he said at a Conservative event. Quote.

614
00:30:49,760 --> 00:30:52,880
Speaker 2: We found many very interesting documents, I must say, and

615
00:30:52,960 --> 00:30:56,360
Speaker 2: the first releases, these are first releases about aliens, will

616
00:30:56,400 --> 00:30:59,280
Speaker 2: begin very soon, so you can go out and see

617
00:30:59,280 --> 00:31:02,800
Speaker 2: if that phenomena is correct. So the alien voters are

618
00:31:02,840 --> 00:31:04,960
Speaker 2: going to be thrown a bone quote very soon.

619
00:31:05,080 --> 00:31:07,080
Speaker 6: But that's just I just need to say, that's just silly,

620
00:31:07,120 --> 00:31:09,800
Speaker 6: because you all know that nothing is going to be definitive.

621
00:31:10,360 --> 00:31:12,600
Speaker 2: I think there are people who are just like, hold on,

622
00:31:13,120 --> 00:31:16,000
Speaker 2: and I understand it because if aliens are real, that's

623
00:31:16,000 --> 00:31:16,680
Speaker 2: a big deal.

624
00:31:16,800 --> 00:31:18,520
Speaker 3: I mean, that is a real.

625
00:31:19,200 --> 00:31:20,640
Speaker 9: Of course aliens are.

626
00:31:22,800 --> 00:31:23,480
Speaker 3: I love this.

627
00:31:23,960 --> 00:31:25,840
Speaker 9: What do we think We're the only people, the only

628
00:31:25,880 --> 00:31:27,040
Speaker 9: living creatures.

629
00:31:26,600 --> 00:31:29,520
Speaker 2: In the I think we found the first single issue

630
00:31:29,560 --> 00:31:33,480
Speaker 2: alien voter here, Dina Shanker, thank you for being here. There.

631
00:31:33,520 --> 00:31:36,160
Speaker 3: She's definitely not the first voter.

632
00:31:36,320 --> 00:31:38,640
Speaker 4: There are a lot of single issue alien voters.

633
00:31:38,640 --> 00:31:40,680
Speaker 6: You can't vote on it because there's never going to

634
00:31:40,720 --> 00:31:42,200
Speaker 6: be anything to figure Trump.

635
00:31:42,040 --> 00:31:53,720
Speaker 2: Is your guys, Stacy. We've been here before. We will

636
00:31:53,720 --> 00:31:57,440
Speaker 2: be here again. It is time for our favorite news

637
00:31:57,440 --> 00:32:07,080
Speaker 2: segment this week in prediction markets. Okay, so the reason

638
00:32:07,600 --> 00:32:11,320
Speaker 2: I think we're talking about this is because Bloomberg published

639
00:32:11,320 --> 00:32:15,040
Speaker 2: an analysis a few days ago about bets on polymarket.

640
00:32:15,120 --> 00:32:17,960
Speaker 2: That's one of the two big prediction market sites along

641
00:32:17,960 --> 00:32:22,760
Speaker 2: with Calshi and super interesting. The top line is basically

642
00:32:22,920 --> 00:32:27,080
Speaker 2: most people on these prediction markets are losing money. And

643
00:32:27,920 --> 00:32:30,160
Speaker 2: then the other thing is that people who are making

644
00:32:30,200 --> 00:32:36,240
Speaker 2: money are largely high frequency traders, people using bots, essentially

645
00:32:36,400 --> 00:32:39,600
Speaker 2: professionals who are getting in and out of bets really

646
00:32:39,680 --> 00:32:43,640
Speaker 2: quickly disproportionately. That's where most of the profits are.

647
00:32:44,240 --> 00:32:46,880
Speaker 4: It's interesting because that is a little bit similar to

648
00:32:47,560 --> 00:32:50,880
Speaker 4: the actual like the stock markets in a second place,

649
00:32:50,960 --> 00:32:54,080
Speaker 4: where bots have really have a huge edge because they

650
00:32:54,120 --> 00:32:56,520
Speaker 4: can do things so quickly and move so quickly.

651
00:32:57,040 --> 00:33:00,640
Speaker 2: Yeah, and I think people know this, maybe in intuitively.

652
00:33:00,840 --> 00:33:05,720
Speaker 2: But the thing is the way these companies promote these tools,

653
00:33:06,280 --> 00:33:10,240
Speaker 2: they don't really mention the fact that the successful users

654
00:33:10,240 --> 00:33:14,560
Speaker 2: are professionals. You're essentially competing with Ken Griffin and other

655
00:33:15,560 --> 00:33:18,960
Speaker 2: high frequency trader types, not literally Citadel, but people who

656
00:33:18,960 --> 00:33:21,600
Speaker 2: are using similar tactics to the ones that are used

657
00:33:21,640 --> 00:33:24,120
Speaker 2: in the stock market. It's the same reason why most

658
00:33:24,520 --> 00:33:26,960
Speaker 2: sort of investment professionals tell you not to day trade,

659
00:33:27,000 --> 00:33:28,880
Speaker 2: even if you are right, and this came up in

660
00:33:28,920 --> 00:33:31,360
Speaker 2: the research too, even if your intuition is right. Like

661
00:33:31,400 --> 00:33:34,480
Speaker 2: you bet on a thing that is going to happen

662
00:33:34,520 --> 00:33:37,120
Speaker 2: and actually happens, you're going to get a worse price

663
00:33:37,560 --> 00:33:41,160
Speaker 2: than one of these bots. All right, Two other stories. First,

664
00:33:41,160 --> 00:33:43,479
Speaker 2: one that I wanted to just mention very quickly is

665
00:33:43,480 --> 00:33:47,920
Speaker 2: that this question over whether these prediction markets are even legal,

666
00:33:47,960 --> 00:33:51,240
Speaker 2: a lot of states are pursuing litigation. We saw another

667
00:33:51,640 --> 00:33:56,200
Speaker 2: lawsuit recently, New York's Attorney generals suing Coinbase and Gemini

668
00:33:56,320 --> 00:33:58,360
Speaker 2: for what, according to the State of New York, are

669
00:33:58,440 --> 00:34:01,600
Speaker 2: running illegal gambling operations. The companies say no, no, no,

670
00:34:01,840 --> 00:34:05,120
Speaker 2: totally legal because we are regulated by the CFTC, which

671
00:34:05,160 --> 00:34:08,560
Speaker 2: regulates commodities. The CFTC is suing the State of New York.

672
00:34:08,640 --> 00:34:10,239
Speaker 2: This is going to continue. The thing about this that

673
00:34:10,280 --> 00:34:11,600
Speaker 2: I found funny is just like the.

674
00:34:11,520 --> 00:34:14,640
Speaker 3: Coinbase is crypto right, prediction market?

675
00:34:14,719 --> 00:34:17,719
Speaker 2: No, No, it is prediction markets. Both of these companies

676
00:34:17,760 --> 00:34:21,920
Speaker 2: have expanded to prediction markets because they're just into whatever

677
00:34:22,160 --> 00:34:23,520
Speaker 2: the kids on.

678
00:34:23,520 --> 00:34:26,200
Speaker 3: Poly market about whether bitcoin's going up.

679
00:34:26,360 --> 00:34:28,759
Speaker 2: No, Coinbase just has a prediction market, and.

680
00:34:28,800 --> 00:34:30,279
Speaker 3: So what do you get on whether or not it's

681
00:34:30,280 --> 00:34:30,840
Speaker 3: going to snow?

682
00:34:31,200 --> 00:34:33,399
Speaker 2: Yeah, they have done their own prediction market as has

683
00:34:33,400 --> 00:34:37,040
Speaker 2: this other crypto thing Gemini. It's basically like this is

684
00:34:37,080 --> 00:34:40,040
Speaker 2: the hot category, so they're getting into it. And that

685
00:34:40,080 --> 00:34:41,799
Speaker 2: I found that thought was the most surprising thing at all.

686
00:34:41,840 --> 00:34:45,000
Speaker 2: Like I didn't even know coinbase had a prediction market neither,

687
00:34:45,360 --> 00:34:45,760
Speaker 2: I guess.

688
00:34:45,719 --> 00:34:46,719
Speaker 3: Clearly didn't know.

689
00:34:47,440 --> 00:34:51,560
Speaker 2: Okay, last one people probably saw this, but a US

690
00:34:51,640 --> 00:34:55,040
Speaker 2: Special Forces sergeant who was involved in the raid in

691
00:34:55,080 --> 00:34:59,439
Speaker 2: which the United States captured Nicolas Maduro, the former leader

692
00:34:59,440 --> 00:35:04,120
Speaker 2: of Venezuela, was arrested for betting thirty three thousand dollars

693
00:35:04,560 --> 00:35:07,960
Speaker 2: on the outcome of the raid. We had a insider

694
00:35:08,440 --> 00:35:09,799
Speaker 2: raid trading. Well.

695
00:35:09,840 --> 00:35:13,160
Speaker 4: I remember when this came out someone had placed a

696
00:35:13,160 --> 00:35:16,160
Speaker 4: big bet and nobody knew who. But the timing was

697
00:35:16,200 --> 00:35:19,360
Speaker 4: really suspicious, that because there was an ongoing bet I

698
00:35:19,400 --> 00:35:23,560
Speaker 4: think on polymarket or something about when this might happen,

699
00:35:24,239 --> 00:35:27,040
Speaker 4: the invasion of Venezuela, and I think also the capture

700
00:35:27,120 --> 00:35:33,560
Speaker 4: of Nicholas Moduo, and I remember people speculating about who

701
00:35:33,760 --> 00:35:35,480
Speaker 4: might have had this insider information.

702
00:35:35,520 --> 00:35:37,400
Speaker 3: Apparently now we know, at least in.

703
00:35:37,400 --> 00:35:39,640
Speaker 2: Part all right, I want you to try to guess

704
00:35:39,640 --> 00:35:41,959
Speaker 2: how President Trump reacted to the news of this story.

705
00:35:41,960 --> 00:35:44,560
Speaker 2: When he was asked at the White House by a reporter.

706
00:35:44,840 --> 00:35:48,240
Speaker 4: President Trump is a practical man and a new prediction market.

707
00:35:48,680 --> 00:35:52,760
Speaker 4: I wonder if he asked to split the profits he said.

708
00:35:53,200 --> 00:35:55,839
Speaker 2: And this is according to a CNBC story that wrote

709
00:35:55,840 --> 00:35:58,040
Speaker 2: about this quote. I don't know about it, but he

710
00:35:58,160 --> 00:36:00,640
Speaker 2: was betting that they would get him. Was he betting

711
00:36:00,680 --> 00:36:02,120
Speaker 2: that they would get him or they wouldn't get him.

712
00:36:02,160 --> 00:36:04,759
Speaker 2: He's told that he was betting on the raid, and

713
00:36:05,040 --> 00:36:07,160
Speaker 2: he seemed Trump seemed to be pleased with that. He said,

714
00:36:07,200 --> 00:36:09,520
Speaker 2: that's like Pete Rose betting on his own team. Pete

715
00:36:09,560 --> 00:36:12,960
Speaker 2: Rose being the baseball player who was banned for Baseball

716
00:36:13,000 --> 00:36:16,279
Speaker 2: for betting. Many people feel unfairly. I mean, there's a

717
00:36:16,280 --> 00:36:19,560
Speaker 2: big conversation in baseball. Trump clearly following that because he said,

718
00:36:19,680 --> 00:36:21,480
Speaker 2: Pete Rose, they kept him out of the Hall of

719
00:36:21,520 --> 00:36:23,200
Speaker 2: Fame because he bet on his own team. Now, if

720
00:36:23,239 --> 00:36:25,359
Speaker 2: he beat against this team, that would be no good.

721
00:36:25,440 --> 00:36:27,320
Speaker 2: But he bet on his own team. And then he said,

722
00:36:27,440 --> 00:36:30,200
Speaker 2: I'll look into it. So I think Trump is like

723
00:36:30,600 --> 00:36:32,680
Speaker 2: a little bit okay with this because at least he

724
00:36:32,719 --> 00:36:33,759
Speaker 2: was betting on the raid.

725
00:36:33,880 --> 00:36:34,080
Speaker 3: Yeah.

726
00:36:34,080 --> 00:36:36,200
Speaker 4: I mean, they do say you're always supposed to bet

727
00:36:36,239 --> 00:36:38,080
Speaker 4: on yourself, and now.

728
00:36:38,239 --> 00:36:40,760
Speaker 3: You can do that on prediction markets.

729
00:36:41,200 --> 00:36:44,280
Speaker 2: The whole world unfortunately has become somewhat of a casino,

730
00:36:44,560 --> 00:36:47,960
Speaker 2: which I think is true and genuinely was surprised.

731
00:36:47,440 --> 00:36:50,719
Speaker 3: But runs casino? Does he mean that?

732
00:36:50,800 --> 00:36:54,040
Speaker 4: Unfortunately because he's literally in the casino business.

733
00:37:00,960 --> 00:37:03,719
Speaker 2: This show is produced by Jasmine JT. Green, Stacy Wong,

734
00:37:03,920 --> 00:37:08,000
Speaker 2: and Miles J. Hersheil worn Magnus Hendrickson is our supervising producer,

735
00:37:08,160 --> 00:37:11,759
Speaker 2: Sam Rogch Hendl's engineering, Dave Pricell factchecks special thanks to

736
00:37:11,800 --> 00:37:14,279
Speaker 2: Jeff Muscus, Julia Rubin and Maria Ling. If you have

737
00:37:14,320 --> 00:37:16,839
Speaker 2: a minute, please rate and review the show. It will

738
00:37:16,920 --> 00:37:18,400
Speaker 2: mean a lot to us. And if you have a

739
00:37:18,480 --> 00:37:21,200
Speaker 2: story that should be our business, email us at Everybody's

740
00:37:21,200 --> 00:37:24,080
Speaker 2: at Bloomberg dot net. That's everybody with ans at Bloomberg

741
00:37:24,120 --> 00:37:26,279
Speaker 2: dot net. Thank you for listening and we'll see you

742
00:37:26,320 --> 00:37:26,719
Speaker 2: next week.