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Speaker 1: Hey, guys, ready or not? Twenty twenty four is here

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Speaker 1: and we here at Breaking Points, are already thinking of

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Speaker 1: ways we can up our game for this critical election.

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Speaker 1: We rely on our premium subs to expand coverage, upgrade

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Speaker 1: the studio ad staff give you, guys, the best independent

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Speaker 1: coverage that is possible. If you like what we're all about,

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Speaker 1: it means the absolute world to have your support. What

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Speaker 1: are you waiting for? Become a premium subscriber today at

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Speaker 1: Breakingpoints dot com. Good morning, everybody, Happy Tuesday. We have

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Speaker 1: an amazing show for everybody today. What do we have, Crystal? Indeed,

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Speaker 1: we do a lot of big news breaking this morning.

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Speaker 1: So we have big news from the President calling on

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Speaker 1: Congress to basically bigfoot railroad workers deny them their democratics

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Speaker 1: say in what their working conditions should be, and calling

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Speaker 1: on Congress to pass a deal and impose upon them.

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Speaker 1: So we'll break all of that down for you. We

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Speaker 1: also have Elon Musk going to war with Apple, so

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Speaker 1: that is very interesting. It's actually there's actually a lot

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Speaker 1: to say about it. It's sort of complex and nuanced

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Speaker 1: and all of those good things block by another big

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Speaker 1: crypto company going down bankruptcy. Sager has some personal stakes

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Speaker 1: involved in this one. I'll share my losses with the world.

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Speaker 1: We'll we get We're going to dig into the controversy

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Speaker 1: surrounding Balenciaga. Kim Kardashian is involved. We also have the

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Speaker 1: very latest out of Georgia where voters are already headed

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Speaker 1: to the polls. The run off date is next week.

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Speaker 1: That came up really quickly. And we also have The

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Speaker 1: New York Times finally stepping up to defend Julian Assange,

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Speaker 1: saying that press freedom is at risk if the Biden

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Speaker 1: administration continues the prosecution of him. So we'll break that

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Speaker 1: down for you as well. But before we get to

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Speaker 1: any of that, live show, live show, put it up

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Speaker 1: there on the screen, New York, Boston. We are coming

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Speaker 1: next week. It's going to sneak up on all of us.

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Speaker 1: Last chance, last couple of days to go ahead and

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Speaker 1: buy tickets. The link is going to be down there

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Speaker 1: in the description. We have a great show planned for

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Speaker 1: all of you, and you are going to meet some

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Speaker 1: of our new team members, so we will exclusively reveal

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Speaker 1: it there. How about that that's a little bit of

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Speaker 1: a tease of some content on top of multimedia and

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Speaker 1: just a fun environment. As you can all see, we're

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Speaker 1: getting into the holiday season. It's going to be nice

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Speaker 1: to be in New York. Shout out to Colvin for

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Speaker 1: doing the decorations. Shout out to our our command Colvin.

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Speaker 1: He did a painstaking job here. I think he did

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Speaker 1: a great job, especially of placing my dinosaur nutcrackers on

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Speaker 1: that thing. Is adorable. I love. I forgot about shut

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Speaker 1: ont to Target, got out of Target. Okay, let's go

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Speaker 1: on to Elon Musk. So some major news. Actually yesterday

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Speaker 1: is setting up like a Titanic showdown in tech and

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Speaker 1: actually exposing some of the major and bigger issues. Kind

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Speaker 1: of bad play. Let's put this up there on the screen,

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Speaker 1: Musk tweeting two separate and important things. Quote. Apple has

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Speaker 1: mostly stopped advertising on Twitter. Do they hate free speech

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Speaker 1: in America? Question? Second, Apple has threatened to withhold Twitter

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Speaker 1: from its app store, but won't tell us why. I

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Speaker 1: think that secondary one is probably a lot more important. Yeah, well,

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Speaker 1: the first one is nonsense. I mean, can stop advertising

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Speaker 1: on Twitter at any time, and by the way, there

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Speaker 1: are many companies that have chosen to do so because

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Speaker 1: for good reason, given how chaotic the whole situation is.

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Speaker 1: Let's go to the secondary part though, which is why

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Speaker 1: the app store one actually sets up a big fight,

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Speaker 1: especially given previous fights that they've had around Fortnite and

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Speaker 1: major court cases involving the Department of Justice. Let's put

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Speaker 1: this up there on the screen. Previously, it was taking

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Speaker 1: a great notice just seven days ago that the top

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Speaker 1: Apple Store executive, Phil Schiller, actually had deleted his Twitter account,

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Speaker 1: which was fueling speculation over really their dissatisfaction by Apple

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Speaker 1: with the moves that Twitter is making and possibly even

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Speaker 1: content moderation on the platform. Now, of course, the reason

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Speaker 1: that all of us need to pay attention to that

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Speaker 1: is it is not without precedent for Apple to remove

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Speaker 1: a app, specifically a social media Twitter type clone called

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Speaker 1: Parlor from its app store, specifically because it's said it

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Speaker 1: violated its terms of service. So it matters on several

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Speaker 1: different levels, which is that the app store itself for

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Speaker 1: has long been a frustration with Silicon Valley entrepreneurs because

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Speaker 1: it is a completely black hole process which they publish

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Speaker 1: their quote terms of service. Sometimes apps can take weeks

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Speaker 1: or months in review. They can get rejected for issues

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Speaker 1: that they don't even really know about. In the actual

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Speaker 1: HQ of the apps they have to reform, and it's

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Speaker 1: really it's almost like us playing with the YouTube algorithm,

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Speaker 1: like we don't know what it is. We know it matters,

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Speaker 1: we know it matters a hell of a lot, and

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Speaker 1: every once in a while you're always tickering around the edges.

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Speaker 1: Sometimes you just get nuked for no reason and nobody

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Speaker 1: will ever tell you what's going on. That's basically that

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Speaker 1: it has massive monopoly power given the iPhone platform, and

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Speaker 1: it extracts major rents from many of the apps that

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Speaker 1: do business on there. They take approximately a thirty percent

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Speaker 1: cut on any business or app that is pulling over

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Speaker 1: one million dollars. So Fortnite the Game had already set

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Speaker 1: up a major battle with Apple over that. But this

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Speaker 1: has been over a decade and a half of simmering

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Speaker 1: conflict in Silicon Valley that's now coming to four with Twitter,

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Speaker 1: and it exposes both the fit bakery essentially of like

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Speaker 1: quote security concerns and all that. When TikTok is literally

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Speaker 1: on the app store, it's just completely up to Tim

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Speaker 1: Cook and his guys as to what goes on there

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Speaker 1: and what's not. But it matters because of what the

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Speaker 1: one billion or so iPhones that are in circulation across

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Speaker 1: the US. Yeah, well, I mean the world. Let's first say,

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Speaker 1: no one should necessarily take what you want to say

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Speaker 1: of face value, like are they being threatened with remove who?

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Speaker 1: We don't know. But I mean, as you point it out,

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Speaker 1: it's not without precedent. You also have the specter of

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Speaker 1: the dude who runs the app store, the leading his

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Speaker 1: Twitter account so obviously unhappy with what's going on there.

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Speaker 1: And I think that happened right after Trump was allowed

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Speaker 1: back onto Twitter. So I mean you can read into

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Speaker 1: that what you will. So it's certainly plausible that this

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Speaker 1: is a reality that's happening behind the scenes. I Mean,

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Speaker 1: the problem here is monopoly power, Like very clearly, it's

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Speaker 1: very simple. Matt Stoler can come on and tell you

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Speaker 1: all about it, Like, the reality is the issue is

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Speaker 1: that Apple has so much power in this marketplace that

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Speaker 1: even if you are a relative I like Twitter, I

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Speaker 1: mean Twitter obviously like a big player, you still are

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Speaker 1: subject to the whims of what they decide to do

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Speaker 1: let alone. If you are a smaller developer, and not

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Speaker 1: only are they, you subject to the whims of like

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Speaker 1: whether they decide to let you exist on the app store,

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Speaker 1: you're also subject to exorbitant fees. I mean they take

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Speaker 1: a massive cut. It reminds me a lot of Ticketmaster,

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Speaker 1: to be honest with you, but like, you have no choice.

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Speaker 1: So really, at bottom, the issue that this all comes

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Speaker 1: down to is monopoly power. And if we can, let's

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Speaker 1: actually skip ahead to the fourth element that we have here.

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Speaker 1: One of the former employees of Twitter wrote an op

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Speaker 1: ed for The New York Times ahead of Trust and Safety, says,

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Speaker 1: this is what could become of Twitter. And you know,

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Speaker 1: there were a lot of pieces of this that were

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Speaker 1: kind of interesting, but in particular relevant for this conversation

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Speaker 1: is he actually talks about the process that they were

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Speaker 1: subjected to while he was there in order to maintain

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Speaker 1: their presence on the app story says, in my time

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Speaker 1: at Twitter, representatives of the app stores regularly raise concerns

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Speaker 1: about content available on our platform. On one occasion, a

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Speaker 1: member of an app review team contacted Twitter, saying with

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Speaker 1: consternation that he had searched for hashtag boobs in the

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Speaker 1: Twitter app and was presented with well, exactly what you

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Speaker 1: would expect. Another time, on the eve of a major

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Speaker 1: feature release, a reviewer sent screenshots of several days old

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Speaker 1: tweets containing an English language racial slur asking Twitter representatives

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Speaker 1: whether they should be permitted to appear on the service.

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Speaker 1: Reviewers hint that app approval could be delayed, perhaps even withheld,

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Speaker 1: if issues are not resolved to their satisfaction. Although the

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Speaker 1: standards for resolution are often implied even as they appear

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Speaker 1: to be driven largely by manual checks and anecdotes, these

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Speaker 1: review procedures have the power to derail company plans and

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Speaker 1: trigger all hands on deck crises for weeks or months

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Speaker 1: at a time. And he closes this entire op ed

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Speaker 1: by writing, as I departed the company, the calls from

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Speaker 1: the app review teams had already begun, So even before

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Speaker 1: the musk era, you can see how they put them

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Speaker 1: through the paces. Hey this hashtag boob surge. I don't

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Speaker 1: like what's coming up. Hey, I found this racial slur

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Speaker 1: on here. What are you all going to do about it?

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Speaker 1: And they also make it He also makes it very

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Speaker 1: clear that it's an incredibly opaque process. They're sort of

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Speaker 1: hinting at what they want you to do in order

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Speaker 1: to remedy the situation. It is ultimately driven by whatever

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Speaker 1: the you know, the team and the man at the

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Speaker 1: top decides they want to do. And so it shouldn't

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Speaker 1: be surprising to anyone that now under you know, with

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Speaker 1: Musk at the hell now making a lot of chaotic

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Speaker 1: decisions and sort of all over the place and with

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Speaker 1: no real process of his own also that they would

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Speaker 1: be subject to this kind of scrutiny. This drives me

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Speaker 1: crazy because it's like, who are you to decide what

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Speaker 1: Twitter does on its platform with regards Okay, the quote

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Speaker 1: racial slur, We don't know what the racial slur was,

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Speaker 1: and that could mean anything too, especially a bunch of

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Speaker 1: people in Silicon Valley for what they claim. I could

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Speaker 1: say Latino, and according to a certain subset of extremely

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Speaker 1: online idiots, that would be a racial slur because I

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Speaker 1: didn't say latin X. So what does that mean. You

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Speaker 1: don't get to decide what that is for the entire country,

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Speaker 1: which effectively you are deciding for Yeah, they do, and

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Speaker 1: that's the issue, which is that they do. And so

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Speaker 1: even you know, like on the boobs search, it's like,

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Speaker 1: what Twitter is not a pornography app? And it has

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Speaker 1: all been also if you were going to ban it

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Speaker 1: at this point for that, it's outrageous. There has been

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Speaker 1: pornography on Twitter since the very beginning as that policy,

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Speaker 1: So now all of a sudden, you're just changing. Look

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Speaker 1: once again, if you were literally going to allow Chinese

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Speaker 1: spyware on your app store and you're going to try

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Speaker 1: and ban Twitter because they brought Trump back, like that

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Speaker 1: is a whole level. That is a level of hypocrisy

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Speaker 1: and of outrage that I did not even think to

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Speaker 1: appear possible. But like, I mean, zooming out from the

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Speaker 1: dynamics of Twitter specifically or the Apple store specific I mean,

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Speaker 1: you see here with one billionaire in control of Twitter

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Speaker 1: and the total capricious decision making. He says, Oh, we're

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Speaker 1: gonna have account sol, We're gonna have this process, and

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Speaker 1: then it's just like now I'm going to just make

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Speaker 1: whatever decisions I want. I'm going to put up Twitter

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Speaker 1: polls and then decide based on that. It's just totally

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Speaker 1: subject to his whims. And it's the same thing with Apple,

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Speaker 1: totally subject to their whims. And so it really reveals

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Speaker 1: what a problem concentrations of power in the hands of

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Speaker 1: a few, you know, very capricious individuals, even if you

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Speaker 1: like them, even if they are well intentioned even if

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Speaker 1: they have the best interest of humanity at stake or

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Speaker 1: whatever you want to believe. Having that much power in

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Speaker 1: any one individual's hands is really a disaster, And especially

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Speaker 1: when you are talking about something like a platform that

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Speaker 1: has become very important for news gathering, for free speech,

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Speaker 1: as Elon puts it, the village public square. When you

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Speaker 1: have that sort of critical infrastructure for democracy subject to

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Speaker 1: the whims of one individual, it is a bad situation.

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Speaker 1: And it really doesn't have anything to do with Elon

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Speaker 1: Musk or Tim Cook. These concentrations of power are the problem, absolutely,

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Speaker 1: and that's the complicated story here right. Apple has made

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Speaker 1: some moves which I applaud and which I love. Whenever

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Speaker 1: they refuse to cooperate with the FBI to crack the

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Speaker 1: iPhone of the sand Bernardino shooter. They were like, if

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Speaker 1: we do that, you can crack every iPhone in America.

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Speaker 1: We're not going to help you do that, And I

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Speaker 1: was like, wow, that actually, you know, he stood up

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Speaker 1: to the Department of Justice on that. That takes some serious,

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Speaker 1: some serious courage. And they've invented lockdown mode to try

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Speaker 1: and stop you know, the Saudi the Pegasus system. So

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Speaker 1: I'm like these are all good things. But then on here,

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Speaker 1: as you said, like completely capricious. They can do whatever

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Speaker 1: they want and ban an app based upon arbitrary editorial standards.

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Speaker 1: That's the other one, you know, like are you a

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Speaker 1: platform or are you an editorial publisher? You can't decide,

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Speaker 1: Like individual tweets appearing on Twitter, that's like US scrutinizing

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Speaker 1: individual reviews on the app Store. It's ludicrous, especially at scale,

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Speaker 1: and it's obviously politically motivated. And so I think the

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Speaker 1: core issue where I hope some people might be able

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Speaker 1: to converge on is this is a crazy system we

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Speaker 1: cannot have. This is the Google and the Apple App

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Speaker 1: Store have to be subject to some basic legal regulatory

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Speaker 1: frameworks through which we all decide that these are the

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Speaker 1: standard through which you are able to regulate if you

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Speaker 1: want to set individual policies on what you know, pornography

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Speaker 1: or whatever. But then it has to be consistently applied,

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Speaker 1: and the DOJ should be able to come in and

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Speaker 1: say you're not consistently applying the standard. Same with respect

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Speaker 1: to free speech. I mean, this is why it also

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Speaker 1: drives me crazy, all of this free speech and all

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Speaker 1: that we have a legal doctrine. It has been adjudicated

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Speaker 1: now for two hundred plus years in the US Supreme

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Speaker 1: Court pass a law that says that's subject to editorial

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Speaker 1: standards on all platforms in the United States technology that

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Speaker 1: as long as it within the bounds of the First Amendment.

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Speaker 1: You know, even I was looking back on their statement

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Speaker 1: with Parlor. They said that Parlor had violated its terms

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Speaker 1: of service and had not taken adequate measures to address

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Speaker 1: illegal activity on its platform. And Apple said that it

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Speaker 1: preemptively wanted to address that because the DOJ and the

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Speaker 1: FBI was not moving fast enough. Who appointed you? You

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Speaker 1: are not the law enforcement agency of the United States

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Speaker 1: of America. Also, the dj and the FBI can't quote

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Speaker 1: move fast enough because we have courts and laws which

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Speaker 1: give people rights, yeah, actual ability. I mean, to stand

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Speaker 1: up if they want to. Monopolists are going to monopolists,

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Speaker 1: you know. I mean, that's the bottom line, right, they

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Speaker 1: have a monopoly. They're going to throw their weight around,

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Speaker 1: however they want to throw it around. And it really

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Speaker 1: is up to the government and to the Congress to

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Speaker 1: deal and to the judicial branch too, by the way,

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Speaker 1: to deal with these concentrations of power. Because there is

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Speaker 1: no way that Apple or Google or Twitter or any

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Speaker 1: of these companies are going to rein in their own power.

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Speaker 1: There's no way they're going to, you know, make what's

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Speaker 1: happening here in this process transparent for the public goods.

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Speaker 1: Like they're not going to do that on their own.

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Speaker 1: That's why you have representatives of the people elected to

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Speaker 1: a body called Congress in order to check the power

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Speaker 1: of out of control entities. And I guess my hope is,

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Speaker 1: since Elon Musk has a lot of fans on the right,

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Speaker 1: and since you already have, which we've covered here a

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Speaker 1: lot more concern about corporate power among Republicans, that perhaps

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Speaker 1: this will be a moment, an aha moment of like, oh,

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Speaker 1: these companies have to have their power checked because this

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Speaker 1: is an untenable situation. Absolutely, let's get to though you're

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Speaker 1: not going to hear this perspective very much in the

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Speaker 1: mainstream media. There has been now an ongoing real effort

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Speaker 1: pushed by none other than Taylor Lorenz over at the

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Speaker 1: Washington Post, but widespread in its want amongst you know,

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Speaker 1: the so called Internet sensors and their hall monitors at

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Speaker 1: major mainstream media institutions who have been trying an actively

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Speaker 1: campaigning Apple to take and Google, by the way, to

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Speaker 1: take Twitter off of the App Store. Let's put this

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Speaker 1: up there on the screen. And it really broke a

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Speaker 1: couple of days ago with a quote from a so

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Speaker 1: called expert in the Washington Post. Quote they say Apple

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Speaker 1: and Google need to seriously explore booting Twitter off of

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Speaker 1: the App Store. What Musk is doing is existentially dangerous

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Speaker 1: for various marginalized communities. It is like opening the gates

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Speaker 1: of hell. I also do love how he did not

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Speaker 1: need to specify. He just coulid quote various marginalized communities.

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Speaker 1: This is Alejandra Carabio of Harvard Laws Cyberclaw Clinic, which

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Speaker 1: is the fakest title that I have personally ever heard

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Speaker 1: in academia. But look you're reading through, and you and

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Speaker 1: I were talking about this before the show. This news article,

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Speaker 1: written by Taylor Lorenz at the Post is titled quote

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Speaker 1: opening the Gates of Hell. Musk says he will revive

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Speaker 1: band Twitter accounts. It reads like an op ed. It

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Speaker 1: does asking Apple and Google to take the Twitter off

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Speaker 1: of the App Store. This is none other than an

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Speaker 1: activist op ed masquerading as a news article. I unlike

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Speaker 1: these people think you are free to say what you want,

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Speaker 1: write an op ed, but don't masquerade as news. This

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Speaker 1: is appearing in the technology section of the website. Crystal,

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Speaker 1: I shouldn't be surprised at this point, but I continue

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Speaker 1: to be surprised. I mean, I read through this article

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Speaker 1: and I thought, surely, you know, okay, you lead with

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Speaker 1: the expert who was allowed to think whatever they think.

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Speaker 1: You lead with the expert opinion. Surely you're going to

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Speaker 1: have some one, you know, maybe three paragraphs in who

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Speaker 1: has the opposite take of like, oh, actually this could

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Speaker 1: be good, and here's the arguments in favor of free speech.

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Speaker 1: And yes, it gets messy, you know, the like the

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Speaker 1: old ACLU position. No, no, totally one sided. It's just

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Speaker 1: person after person after person with quotes very similar to this,

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Speaker 1: and like, yeah, that's fine if you're like writing a

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Speaker 1: monologue for a show that's like your opinion, or if

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Speaker 1: you're writing an outbed for this, you know, very important

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Speaker 1: large newspaper that a lot of people read and get

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Speaker 1: their views from. I find it astonishing not that she

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Speaker 1: would write this piece, but I continue to find it

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Speaker 1: shocking that the Washington Post allows this just blatant one

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Speaker 1: sided opinion masquerading as neutral journalism. Is it's just I

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Speaker 1: will never stop being sort of like done by that,

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Speaker 1: and really that really is my issue with her. Like again,

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Speaker 1: you can have whatever opinions you want, you can say

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Speaker 1: whatever you want, but to masquerade as this is like

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Speaker 1: neutral journal is just the facts. It's it's gross, yeah

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Speaker 1: it is, it's and you know, I want to bring

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Speaker 1: it back to Actually, it's funny. Anybody who's ever tried

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Speaker 1: to buy anything, you know, in store, Like, if you

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Speaker 1: want to I use a lot of Audible credits right

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Speaker 1: to listen to audiobooks, you can't buy new credits in

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Speaker 1: the Audible app. Why Because they don't want to pay

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Speaker 1: the tithe to the app store. They make you buy

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Speaker 1: it elsewhere and then buy with credits. Why do you

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Speaker 1: think that whole system exists. It's literally to get around

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Speaker 1: the app Store's title. Well, and the only reason they're

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Speaker 1: able to do it is because Amazon, yes owns Audible,

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Speaker 1: is its own monopoly. So we have no choice. All right, Well,

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Speaker 1: we'll go through their process and deal with their thing.

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Speaker 1: The only reason they're able to push back and do

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Speaker 1: it their way is because they're also gigantic enough, so

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Speaker 1: it's like to even see that Bezos's own paper is

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Speaker 1: advocating for a system of which he actively tasks to

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Speaker 1: circumvent for his own business is just so particularly juicy.

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Speaker 1: You reference that op ed if we could put it

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Speaker 1: back up there on the screen, because the Yoel Roth

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Speaker 1: op ed is important because Yoel previously was a democratic

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Speaker 1: operative before he was the head of trust and safety

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Speaker 1: at Twitter. And really the opening of the app Store conversation,

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Speaker 1: while revealing to us from an analytical point of view,

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Speaker 1: it is now being seen really as kind of an

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Speaker 1: opening campaign like this was a preview to the executives

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Speaker 1: at Apple and to really the activist, which is why

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Speaker 1: they're seizing on it because they're like, oh, this is

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Speaker 1: a major opening. We can actually pressure Apple to just

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Speaker 1: kick them off, which literally would be an existential threat.

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Speaker 1: There's a book called super Pumped which I read. It

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Speaker 1: would call the Battle for Uber, and one of the

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Speaker 1: most interesting points within the book is the battle between

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Speaker 1: Uber and Apple over the amount of information that Uber

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Speaker 1: was able to collect about you on your phone, and

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Speaker 1: there was all kinds of insane ways and code that

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Speaker 1: went into people's apps and geo fencing I encourage people

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Speaker 1: to go read it because it actually an interesting scandal

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Speaker 1: from the beginning, them tracking journalists and it was like

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Speaker 1: it was crazy. Yeah, that's what happened was is that

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Speaker 1: they basically put a geofence around Coopertino and they were like, well,

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Speaker 1: we'll have one app that exists over there, and then

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Speaker 1: one app that exists in the rest of the world,

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Speaker 1: so it would pass review but then wouldn't go into

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Speaker 1: effect elsewhere. And they had the entire software system. It's

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Speaker 1: a fascinating book. They also made a Showtime movie, but

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Speaker 1: not as good, but it's all right, super pumped everybody,

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Speaker 1: go and check it out. The point is that it

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Speaker 1: just shows you again that Uber, which was a multi

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Speaker 1: billion dollar corporation itself, was having to play crazy games

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Speaker 1: and spend hundreds of millions of dollars trying to circumvent

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Speaker 1: the Apple App Store so that they can continue to

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Speaker 1: do business. I also want to underscore what you said

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Speaker 1: earlier about these advertisers. Let's put the Business Insider tear

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Speaker 1: sheet up there on the screen, please, and it shows

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Speaker 1: you that fifty of Twitter's top one hundred advertisers so

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Speaker 1: far have pulled out of the platform. Since Musk took over.

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Speaker 1: And as you said, part of the problem is that

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Speaker 1: these fifty companies have spent over two billion dollars in

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Speaker 1: the last two years. Musk is of course saying that

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Speaker 1: they're you know, against free speech and all that. I

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Speaker 1: think it's certainly possible. But he did himself no favors

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Speaker 1: on two fronts. Number One, that initial Paul Pelosi tweet

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Speaker 1: floating the conspiracy. That was a massive mistake because it

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Speaker 1: just showed that since all editorial standards are up to

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Speaker 1: him and he doesn't have particularly good editorial standards, well

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Speaker 1: that's just not going to be trustworthy. On top of

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Speaker 1: a major, undeniable activist campaign against you know, basically against

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Speaker 1: Elon right now getting these Twitter advertisers to stop with him.

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Speaker 1: So it's a combination of he didn't even give them

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Speaker 1: a plausible deniability about he's trying. And at the same time,

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Speaker 1: Twitter Blue was a disaster allegedly by the way, it's

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Speaker 1: supposed to roll out tomorrow. I haven't seen a single

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Speaker 1: announcement about that, so who knows when it's coming. He's

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Speaker 1: changed things up and said we'll have different blue, different

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Speaker 1: types of check marks, and all that stuff is coming well,

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Speaker 1: you know, we'll see. But the business itself of Twitter

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Speaker 1: is it's actually in danger bad shape, in bad shape

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Speaker 1: because what they were getting like ninety percent of their

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Speaker 1: revenue from advertisers. Previously, it was like, you know, their

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Speaker 1: exclusive source of revenue. Obviously, the new efforts to have

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Speaker 1: more like subscription style revenue, those have not come to

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Speaker 1: fruition yet. So they're in a major hole. And I

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Speaker 1: do want to point out, like activists, part of their

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Speaker 1: free speech is being able to call on these companies

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Speaker 1: to you know, to abandon the platform. And by the way,

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Speaker 1: I don't think most of these companies needed much encouragement

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Speaker 1: because there are a lot of places to advertise, and

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Speaker 1: you look at the really chaotic decision making, you look

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Speaker 1: at the fact that you know, things that he said

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Speaker 1: he was going to do, he then immediately reverses. I

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Speaker 1: mentioned the Content Moderation Council that gets thrown out the window.

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Speaker 1: Then it's like rule by Twitter pool. Then it's you know,

430
00:21:40,520 --> 00:21:43,440
Speaker 1: the Twitter check market thing is rolled out, it's pulled back.

431
00:21:43,480 --> 00:21:46,399
Speaker 1: I mean, it's just a total all the parody accounts

432
00:21:46,400 --> 00:21:48,760
Speaker 1: that sprung up when they we had a minute where

433
00:21:48,760 --> 00:21:51,040
Speaker 1: you could pay eight dollars to get your check market whatever.

434
00:21:51,720 --> 00:21:53,840
Speaker 1: All these companies, I'm sure they're looking at this and like,

435
00:21:53,920 --> 00:21:56,200
Speaker 1: we don't need this right now. Maybe we'll come back later,

436
00:21:56,280 --> 00:21:57,880
Speaker 1: but we have a lot of places we could spend

437
00:21:57,880 --> 00:22:01,320
Speaker 1: our advertising dollars. We read the announce of one of

438
00:22:01,359 --> 00:22:03,960
Speaker 1: the people who was like basically in charge of placing

439
00:22:04,000 --> 00:22:07,560
Speaker 1: ads for a significant size company, and they said, another

440
00:22:07,600 --> 00:22:09,920
Speaker 1: thing that people are discounting is because you have such

441
00:22:09,960 --> 00:22:13,480
Speaker 1: staff turnover. They had a whole bunch of different people

442
00:22:13,560 --> 00:22:15,560
Speaker 1: in the course of like two weeks who were assigned

443
00:22:15,600 --> 00:22:18,320
Speaker 1: to their account. So I'm just like, no, we're out.

444
00:22:18,760 --> 00:22:22,240
Speaker 1: That's not a war on free speech. That's just business

445
00:22:22,280 --> 00:22:26,359
Speaker 1: people making business decisions, which you know, I don't always

446
00:22:26,359 --> 00:22:28,720
Speaker 1: love either, And I do think it's bad that these

447
00:22:28,760 --> 00:22:33,480
Speaker 1: platforms have their entire content moderation policy essentially dictated to

448
00:22:33,520 --> 00:22:36,240
Speaker 1: them by what corporate America is comfortable with. That is

449
00:22:36,280 --> 00:22:40,760
Speaker 1: a major problem. But this is one hundred percent predictable,

450
00:22:41,000 --> 00:22:45,199
Speaker 1: completely predictable. No, it made a mistake. And look, I

451
00:22:45,240 --> 00:22:48,480
Speaker 1: support free speech on Twitter. I absolutely support even the

452
00:22:48,600 --> 00:22:51,160
Speaker 1: revival of some band accounts just because I don't think

453
00:22:51,160 --> 00:22:53,880
Speaker 1: it should be absolutely powerful. I support President Trump being

454
00:22:53,960 --> 00:22:56,320
Speaker 1: on a banned. I mean, I don't really enjoy having

455
00:22:56,760 --> 00:22:59,240
Speaker 1: obnoxious voice around, but I think it's the right decision.

456
00:22:59,280 --> 00:23:02,000
Speaker 1: Yeah exactly, I think. Look, you know, it's not always

457
00:23:02,000 --> 00:23:04,240
Speaker 1: comfortable to live in a free speech and open society,

458
00:23:04,320 --> 00:23:06,600
Speaker 1: but having lived in the alternative, I will take this

459
00:23:06,880 --> 00:23:09,520
Speaker 1: any daily week. And finally, let's get to this. Let's

460
00:23:09,560 --> 00:23:11,840
Speaker 1: put this up there on the screen. Elon now saying

461
00:23:11,880 --> 00:23:15,000
Speaker 1: that the Twitter files on free speech suppression will soon

462
00:23:15,080 --> 00:23:18,640
Speaker 1: be published on Twitter itself. The public deserves to know

463
00:23:18,960 --> 00:23:21,399
Speaker 1: what really happened. Kind of an ominous tweet there, Crystal.

464
00:23:21,440 --> 00:23:23,960
Speaker 1: We have no idea what it actually means or what

465
00:23:24,280 --> 00:23:26,200
Speaker 1: it will entail. Here are a couple of things I'm

466
00:23:26,200 --> 00:23:30,080
Speaker 1: looking for. Which is the actual released unredacted correspondence around

467
00:23:30,160 --> 00:23:34,160
Speaker 1: banning the Hunter Biden laptop story Number two proof if

468
00:23:34,280 --> 00:23:36,880
Speaker 1: shadow banning actually did exist. I think we can all

469
00:23:36,920 --> 00:23:39,159
Speaker 1: confidently say it did, although I still would like to

470
00:23:39,160 --> 00:23:41,720
Speaker 1: see proof. In the pudding, Well has said he wants

471
00:23:41,720 --> 00:23:44,199
Speaker 1: to do shadow banning, so so I'm like, well, do

472
00:23:44,200 --> 00:23:46,439
Speaker 1: you have existing code? So does that exist or not?

473
00:23:46,480 --> 00:23:48,960
Speaker 1: Because I really like to see that. So shadow banning

474
00:23:49,000 --> 00:23:52,800
Speaker 1: the exact procedures through which maybe specific accounts that were done.

475
00:23:52,840 --> 00:23:56,080
Speaker 1: And then all of the fake processes because we know

476
00:23:56,720 --> 00:23:59,080
Speaker 1: that there were published terms of service of which they

477
00:23:59,080 --> 00:24:01,000
Speaker 1: did not abide by in terms of what accounts got

478
00:24:01,000 --> 00:24:03,840
Speaker 1: banned and whatnot. So I want to know the back

479
00:24:03,880 --> 00:24:08,439
Speaker 1: and forth around ones perhaps that they did protect internal correspondence.

480
00:24:08,880 --> 00:24:11,600
Speaker 1: My old friend Vijayagade I'd like to see a lot

481
00:24:11,640 --> 00:24:14,760
Speaker 1: of her emails and the internal policies and things that

482
00:24:14,800 --> 00:24:16,640
Speaker 1: they set. And then, you know, I think that that

483
00:24:16,720 --> 00:24:20,800
Speaker 1: level of that level of transparency is important. Secondary and

484
00:24:20,840 --> 00:24:24,120
Speaker 1: perhaps most important is what Alex Berenson showed us, which

485
00:24:24,160 --> 00:24:27,360
Speaker 1: is what he was able to obtain White House communications

486
00:24:27,680 --> 00:24:31,360
Speaker 1: with Twitter over trying to get his account banned on platform.

487
00:24:31,440 --> 00:24:35,640
Speaker 1: So anything government FBI related all the way going back

488
00:24:35,680 --> 00:24:38,240
Speaker 1: to President Obama and that time. And then actually this

489
00:24:38,320 --> 00:24:41,960
Speaker 1: is an undernoticed one, remember with the Snowden revelations about

490
00:24:42,000 --> 00:24:45,119
Speaker 1: backdoors that big tech companies had or not any NSA

491
00:24:45,280 --> 00:24:49,359
Speaker 1: related activity with Twitter backdoors, the extent and the cooperation

492
00:24:49,440 --> 00:24:51,520
Speaker 1: that they have some things I'd be looking for. That's

493
00:24:51,520 --> 00:24:53,679
Speaker 1: the part that I'm most interested in. I mean, the

494
00:24:53,760 --> 00:24:57,320
Speaker 1: individual decisions that were made under the previous regime. Well

495
00:24:57,320 --> 00:24:59,880
Speaker 1: that regime has gone so how interesting is that really

496
00:25:00,080 --> 00:25:03,359
Speaker 1: at this point? By the way, Elon should be opening

497
00:25:03,440 --> 00:25:06,040
Speaker 1: up his own books going forward like that is actually

498
00:25:06,080 --> 00:25:07,840
Speaker 1: more important at this point since he is now in

499
00:25:07,920 --> 00:25:11,000
Speaker 1: charge of how he's making these decisions, what algorithms are

500
00:25:11,000 --> 00:25:13,600
Speaker 1: being deployed. He has talked about what he wants to

501
00:25:13,600 --> 00:25:17,119
Speaker 1: do is basically shadow ban instead of outright ban accounts

502
00:25:17,160 --> 00:25:20,560
Speaker 1: and language, so important to get that transparency going forward.

503
00:25:20,600 --> 00:25:23,400
Speaker 1: We'll see if that happens. But yeah, the most interesting

504
00:25:23,440 --> 00:25:27,679
Speaker 1: part would be what were the government contacts with Twitter?

505
00:25:27,840 --> 00:25:31,239
Speaker 1: Like we had that reporting from Ken Klippenstein about you know,

506
00:25:31,400 --> 00:25:35,439
Speaker 1: government working directly with tech companies opening up back doors

507
00:25:35,560 --> 00:25:38,600
Speaker 1: for communications, all of those sorts of things. So that's

508
00:25:38,640 --> 00:25:41,600
Speaker 1: the piece that would definitely be most interesting here. Yeah,

509
00:25:41,640 --> 00:25:44,119
Speaker 1: so look, we'll see. We're waiting. There's a lot of

510
00:25:44,119 --> 00:25:46,480
Speaker 1: things that could happen on that front. All right, let's

511
00:25:46,480 --> 00:25:51,000
Speaker 1: get to a fun story. Is it involves me personally? Well,

512
00:25:51,040 --> 00:25:53,159
Speaker 1: I get to say it here, so it's not totally

513
00:25:53,200 --> 00:25:54,960
Speaker 1: a loss on my side. Let's go to put this

514
00:25:55,040 --> 00:25:58,600
Speaker 1: up there on the screen. Cryptocurrency lender Blockfi has now

515
00:25:58,680 --> 00:26:03,160
Speaker 1: filed for bankrupt See the latest asualty in the crypto turmoil.

516
00:26:03,240 --> 00:26:06,840
Speaker 1: After fdx's collapse. Now full disclosure, and I will get

517
00:26:06,880 --> 00:26:10,119
Speaker 1: to the exact dollar amount. I had a sizeable some

518
00:26:10,520 --> 00:26:12,879
Speaker 1: on Block five, of which I had long been a

519
00:26:12,920 --> 00:26:15,760
Speaker 1: customer of theirs, and so this actually lane personally hurts.

520
00:26:15,960 --> 00:26:19,000
Speaker 1: What blockfis like, where did they fit in the ecosystem?

521
00:26:19,000 --> 00:26:21,680
Speaker 1: What did they actually do? It was okay, so at

522
00:26:22,000 --> 00:26:24,879
Speaker 1: at its core it was a trading platform. But the

523
00:26:24,920 --> 00:26:29,119
Speaker 1: core innovation that the major players Block five, Gemini and

524
00:26:29,160 --> 00:26:32,440
Speaker 1: a few others had is their ability to pay very

525
00:26:32,520 --> 00:26:36,439
Speaker 1: high interest on crypto assets. So the idea would be,

526
00:26:36,840 --> 00:26:39,040
Speaker 1: and this is what some of us fell for, was

527
00:26:39,080 --> 00:26:41,800
Speaker 1: that you could take an asset which is fully convertible

528
00:26:41,840 --> 00:26:46,119
Speaker 1: to US dollars like GUSD Gemini US dollar coin pegged

529
00:26:46,119 --> 00:26:48,640
Speaker 1: one to one. You could buy that, they would take

530
00:26:48,680 --> 00:26:51,359
Speaker 1: your dollars and effectively loan it out as leverage to

531
00:26:51,880 --> 00:26:54,639
Speaker 1: for trading on its platform. Yeah. Meantime, you had a

532
00:26:54,680 --> 00:26:57,320
Speaker 1: token which was fully convertible and they were paying you

533
00:26:57,720 --> 00:27:01,399
Speaker 1: interest on that, so to make it your money in, yeah,

534
00:27:01,520 --> 00:27:05,200
Speaker 1: they go and they use your actual dollars to loan out.

535
00:27:05,200 --> 00:27:07,680
Speaker 1: So if I wanted to make leverage bets on their platform,

536
00:27:07,680 --> 00:27:09,680
Speaker 1: I could do so, and I could take loans based

537
00:27:09,680 --> 00:27:12,160
Speaker 1: on the value of my assets me as a customer.

538
00:27:12,320 --> 00:27:14,960
Speaker 1: Why was I taking advantage of it? Well, the best

539
00:27:14,960 --> 00:27:17,040
Speaker 1: way to think of it is essentially like a mega

540
00:27:17,119 --> 00:27:20,119
Speaker 1: high interest banking account. Lads in, you show me a

541
00:27:20,160 --> 00:27:23,080
Speaker 1: place in twenty twenty one which is paying nine percent

542
00:27:23,160 --> 00:27:26,320
Speaker 1: interest on dollars. So that's why I was taking advantage

543
00:27:26,320 --> 00:27:28,800
Speaker 1: of Some of us didn't pull it out at the

544
00:27:28,920 --> 00:27:32,959
Speaker 1: right moment, and it turns out that well, FDIC exists

545
00:27:32,960 --> 00:27:36,440
Speaker 1: for a reason. Guys, learn from my pain. It's basically

546
00:27:36,480 --> 00:27:39,679
Speaker 1: like having a bad money in the bank in like

547
00:27:39,720 --> 00:27:42,720
Speaker 1: the nineteen twenties, you know, during the crash of twenty nine,

548
00:27:42,960 --> 00:27:44,600
Speaker 1: when they're like, your money's not in the bank anymore.

549
00:27:44,640 --> 00:27:46,880
Speaker 1: You're like, wait, what do you where is it? Yeah? So, anyway,

550
00:27:46,880 --> 00:27:49,639
Speaker 1: we invented a lot of capital controls on banks and

551
00:27:49,800 --> 00:27:52,159
Speaker 1: regulations after the fact. This is essentially one of the

552
00:27:52,200 --> 00:27:54,560
Speaker 1: reasons they were able to pay such high interest rates

553
00:27:54,720 --> 00:27:57,280
Speaker 1: is because they had such leverage and large bets being

554
00:27:57,280 --> 00:28:00,800
Speaker 1: placed on the platform. It wasn't as egregious as FTX,

555
00:28:00,840 --> 00:28:04,920
Speaker 1: but it was essentially financial instrumentation that was being developed

556
00:28:05,080 --> 00:28:07,480
Speaker 1: at a more sophisticated level for crypto as the asset

557
00:28:07,520 --> 00:28:09,600
Speaker 1: prices went up. Well and partly, and we'll get to this,

558
00:28:09,760 --> 00:28:13,280
Speaker 1: they got in trouble with the SEC for not sort

559
00:28:13,320 --> 00:28:17,640
Speaker 1: of acknowledging that these accounts and this money was basically securities,

560
00:28:17,680 --> 00:28:19,520
Speaker 1: and so they had to pay. They had a massive

561
00:28:19,520 --> 00:28:23,240
Speaker 1: settlement hundred million dollars with the SEC over failing to

562
00:28:23,320 --> 00:28:28,320
Speaker 1: fully disclose and register these accounts as securities, which was

563
00:28:28,359 --> 00:28:30,359
Speaker 1: what they really were. Correct. And so let's go and

564
00:28:30,359 --> 00:28:32,160
Speaker 1: put this up there on the screen. The Wall Street

565
00:28:32,240 --> 00:28:35,399
Speaker 1: Journal piece, which is what they point to. This shows

566
00:28:35,440 --> 00:28:37,440
Speaker 1: you as well, the thirty million dollars that you reference

567
00:28:37,600 --> 00:28:40,560
Speaker 1: they still oad to the SEFO, to the SEC. What

568
00:28:40,600 --> 00:28:43,440
Speaker 1: they point to actually in the journal collapse is that

569
00:28:43,520 --> 00:28:46,560
Speaker 1: this is all still linked to FTX. So there were

570
00:28:46,560 --> 00:28:49,600
Speaker 1: two things existentially a problem for Block five. Number one

571
00:28:49,720 --> 00:28:52,920
Speaker 1: was the overall downturn in crypto because and this shows

572
00:28:52,960 --> 00:28:55,640
Speaker 1: you really the fakery, which is they were using the

573
00:28:55,800 --> 00:28:59,720
Speaker 1: asset price of the crypto highly volatile asset, and then

574
00:29:00,040 --> 00:29:04,240
Speaker 1: borrowing dollars based upon that. But then you essentially get

575
00:29:04,240 --> 00:29:06,240
Speaker 1: margin called when you have assets that are you know,

576
00:29:06,320 --> 00:29:09,200
Speaker 1: doing a diminishing price by three hundred percent or whatever

577
00:29:09,440 --> 00:29:11,760
Speaker 1: over a period of one year that was already a

578
00:29:11,760 --> 00:29:14,719
Speaker 1: major blow to the company. But really what put them

579
00:29:14,720 --> 00:29:18,080
Speaker 1: over the edge was FTX because they had a huge

580
00:29:18,280 --> 00:29:21,640
Speaker 1: stake actually in FTX and many of the tokens that

581
00:29:21,720 --> 00:29:25,120
Speaker 1: again there were things being borrowed against the value of

582
00:29:25,160 --> 00:29:28,120
Speaker 1: those tokens, which go to zero overnight. So this is

583
00:29:28,600 --> 00:29:31,800
Speaker 1: FTX contagion. I mean, this was a multi billion dollar company.

584
00:29:31,840 --> 00:29:34,800
Speaker 1: It had a lot of assets. It now owed it

585
00:29:34,840 --> 00:29:38,000
Speaker 1: has ten creditors which it owes one point two billion

586
00:29:38,400 --> 00:29:42,360
Speaker 1: dollars to. So now you know, I'm very very will

587
00:29:42,440 --> 00:29:46,040
Speaker 1: not be one of those which the top ten. I

588
00:29:46,040 --> 00:29:48,400
Speaker 1: would not be one of those folks. But I do

589
00:29:48,520 --> 00:29:51,280
Speaker 1: want to point out, and you found this article. Let's

590
00:29:51,360 --> 00:29:53,920
Speaker 1: put this Mother Jones piece up of the screen because

591
00:29:53,920 --> 00:29:57,240
Speaker 1: this is important. There were a lot of people who

592
00:29:57,400 --> 00:29:59,880
Speaker 1: were not filthy rich, who had money on these cri

593
00:30:00,080 --> 00:30:02,960
Speaker 1: to exchanges. They wanted to invest and they lost everything

594
00:30:02,960 --> 00:30:05,000
Speaker 1: on tax and now a lot of people also lost

595
00:30:05,200 --> 00:30:07,680
Speaker 1: everything that they had on block five. And what they

596
00:30:07,720 --> 00:30:12,920
Speaker 1: point to are really majority younger men much like me

597
00:30:13,520 --> 00:30:17,000
Speaker 1: twenty five to thirty years old, who saw these not

598
00:30:17,040 --> 00:30:21,480
Speaker 1: only enormous returns, but really you know, sophistication. Sorry that

599
00:30:21,680 --> 00:30:24,920
Speaker 1: they saw people getting rich. They saw, you know, opportunities

600
00:30:24,920 --> 00:30:27,240
Speaker 1: there that don't exist in traditional banking or even in

601
00:30:27,280 --> 00:30:30,160
Speaker 1: equities markets, and they're like, hey, this is an opportunity

602
00:30:30,440 --> 00:30:32,960
Speaker 1: to like jump ahead in line on the system. This

603
00:30:33,040 --> 00:30:35,280
Speaker 1: is my opportunity to buy house. And you know, we

604
00:30:35,320 --> 00:30:37,440
Speaker 1: could sit here and you know, cry for the sec

605
00:30:37,680 --> 00:30:40,400
Speaker 1: to not get three thirty million. But it's a lot

606
00:30:40,400 --> 00:30:43,040
Speaker 1: of guys who were trying to save up for a

607
00:30:43,080 --> 00:30:44,960
Speaker 1: town payment, a mortgage who looked at it this as

608
00:30:45,000 --> 00:30:47,920
Speaker 1: their life saving shot. And I'm not going to say that,

609
00:30:47,960 --> 00:30:50,000
Speaker 1: you know, it's been a crippling blow, although it's still

610
00:30:50,000 --> 00:30:52,760
Speaker 1: pretty bad for what I lost, but a lot of

611
00:30:52,800 --> 00:30:56,040
Speaker 1: these guys it was their actual life savings, which is

612
00:30:56,080 --> 00:30:59,600
Speaker 1: gone like six figures. Yeah, it's really sad. Yeah, I

613
00:31:00,120 --> 00:31:03,120
Speaker 1: had people who really believed in the dream, who, you know,

614
00:31:03,400 --> 00:31:05,760
Speaker 1: like a lot of young people are looking at the

615
00:31:05,760 --> 00:31:08,400
Speaker 1: housing market are feeling like, I am never going to

616
00:31:08,440 --> 00:31:10,360
Speaker 1: be able to afford to buy a house. They interviewed

617
00:31:10,360 --> 00:31:11,880
Speaker 1: one guy who's trying to buy a home in his

618
00:31:12,680 --> 00:31:14,800
Speaker 1: in his home city of Vancouver, which is one of

619
00:31:14,880 --> 00:31:17,719
Speaker 1: the most expensive real estate markets in the entire world,

620
00:31:17,840 --> 00:31:20,120
Speaker 1: you know, and they thought, Okay, this is an escape

621
00:31:20,520 --> 00:31:23,400
Speaker 1: from the situation that I'm in right now, and they

622
00:31:23,400 --> 00:31:26,720
Speaker 1: went all in, and you know, they particularly in this article.

623
00:31:26,800 --> 00:31:29,920
Speaker 1: Why I thought it was important and why I thought

624
00:31:29,920 --> 00:31:32,040
Speaker 1: it was interesting and why I thought it was sad

625
00:31:32,560 --> 00:31:34,800
Speaker 1: is because they tie it directly to people who are

626
00:31:34,840 --> 00:31:38,000
Speaker 1: trying to buy homes. And they have some numbers here

627
00:31:38,560 --> 00:31:42,440
Speaker 1: from Redfin finding that one in nine first time home

628
00:31:42,480 --> 00:31:46,680
Speaker 1: buyers said that selling cryptocurrency helped them save for down payment.

629
00:31:47,520 --> 00:31:49,560
Speaker 1: Eight point eight percent of buyers in the third quarter

630
00:31:49,560 --> 00:31:51,840
Speaker 1: of twenty twenty claim they'd use crypto gains to buy

631
00:31:51,880 --> 00:31:54,880
Speaker 1: their houses. So the number of people who were using

632
00:31:55,000 --> 00:31:57,440
Speaker 1: crypto gains as when the market was hot, when it

633
00:31:57,480 --> 00:32:00,440
Speaker 1: was going up and up and up, was steadily increasing.

634
00:32:00,600 --> 00:32:03,400
Speaker 1: And it makes sense because I mean, we cover here

635
00:32:03,560 --> 00:32:05,560
Speaker 1: you have to have a six figure income now to

636
00:32:05,640 --> 00:32:10,680
Speaker 1: afford the mortgage payment on your average American house. We've

637
00:32:10,720 --> 00:32:14,120
Speaker 1: also covered how you need so much cash up front

638
00:32:14,560 --> 00:32:18,120
Speaker 1: that basically, if you aren't independently wealthy, or you don't

639
00:32:18,120 --> 00:32:19,560
Speaker 1: have parents who are going to give you a few

640
00:32:19,640 --> 00:32:23,239
Speaker 1: hundred grand as your down payment, you're just screwed. And

641
00:32:23,320 --> 00:32:26,720
Speaker 1: so I can totally understand how people saw this as like, Okay,

642
00:32:27,120 --> 00:32:29,600
Speaker 1: you know, I'm in this job, you know, Maym, I'm

643
00:32:29,640 --> 00:32:32,320
Speaker 1: doing okay in the job, but I can never imagine

644
00:32:32,360 --> 00:32:34,200
Speaker 1: how I'm going to get off of this treadmill and

645
00:32:34,280 --> 00:32:36,800
Speaker 1: actually be able to start to build some wealth and

646
00:32:36,920 --> 00:32:39,960
Speaker 1: just have the basics of the American dream of the house.

647
00:32:40,520 --> 00:32:43,160
Speaker 1: And so they, you know, they fall for the rhetoric,

648
00:32:43,200 --> 00:32:45,400
Speaker 1: they fall for the hype. They end up going all

649
00:32:45,480 --> 00:32:49,120
Speaker 1: in and it's it's really sad. It just is really sad.

650
00:32:49,160 --> 00:32:52,680
Speaker 1: You know, they interview somebody here who like he hasn't

651
00:32:52,680 --> 00:32:55,720
Speaker 1: told his wife yet, she didn't really know how much

652
00:32:55,760 --> 00:32:59,960
Speaker 1: he had in And they talk to somebody who normal

653
00:33:00,440 --> 00:33:02,720
Speaker 1: was really on top of like moving what he had

654
00:33:02,800 --> 00:33:05,760
Speaker 1: around and making sure that it wasn't going to get lost,

655
00:33:05,760 --> 00:33:07,479
Speaker 1: but he like went out of town for a weekend,

656
00:33:07,520 --> 00:33:10,040
Speaker 1: and in that time FTX goes bankrupt and you're just

657
00:33:10,080 --> 00:33:16,480
Speaker 1: like you're done. So the level of just pain that

658
00:33:16,760 --> 00:33:19,760
Speaker 1: this cause. With FTX alone, you had over a million

659
00:33:19,760 --> 00:33:22,520
Speaker 1: people who you know, lost a huge amount of money,

660
00:33:22,760 --> 00:33:24,920
Speaker 1: some of it really significant to them, some of that

661
00:33:25,000 --> 00:33:27,440
Speaker 1: they thought was going to be what really changed their life,

662
00:33:27,560 --> 00:33:31,640
Speaker 1: and they you know, were ultimately completely defrauded. Yeah, I mean,

663
00:33:31,680 --> 00:33:33,960
Speaker 1: look on a personal level. This is a good this

664
00:33:34,000 --> 00:33:36,200
Speaker 1: is a good lesson because and let's put it up

665
00:33:36,200 --> 00:33:38,200
Speaker 1: there on the screen. This is the exact dollar amount.

666
00:33:38,600 --> 00:33:41,920
Speaker 1: It's five and ninety dollars. So I'll live, but you

667
00:33:42,000 --> 00:33:45,120
Speaker 1: know it hurts. And the reason that I did this

668
00:33:45,200 --> 00:33:47,520
Speaker 1: was greed. I mean, let's be honest, which is that

669
00:33:47,680 --> 00:33:50,440
Speaker 1: the time there was no asset paying nine percent based

670
00:33:50,520 --> 00:33:52,320
Speaker 1: it was you know, like you're looking at a company

671
00:33:52,360 --> 00:33:54,280
Speaker 1: like this, You're like, hey, can't go bankrupt, Like, how's

672
00:33:54,280 --> 00:33:56,920
Speaker 1: that positive? A multi billion dollar company? There's no way

673
00:33:57,000 --> 00:33:59,240
Speaker 1: what could go wrong? You're like, they're paying nine percent interests,

674
00:33:59,280 --> 00:34:01,480
Speaker 1: Like theres no bank count on Earth that's paying nine

675
00:34:01,480 --> 00:34:03,600
Speaker 1: percent interest. You're like, true, you don't want to put

676
00:34:03,640 --> 00:34:06,040
Speaker 1: money in the equities. This was my thinking. I was like, well,

677
00:34:06,080 --> 00:34:07,520
Speaker 1: you don't want to put money in the SPOUI one

678
00:34:07,560 --> 00:34:10,040
Speaker 1: hundred because that's volatile. You know. You're like, that could

679
00:34:10,040 --> 00:34:12,920
Speaker 1: go up and down. That's got twenty something percent up

680
00:34:12,960 --> 00:34:15,240
Speaker 1: town it's down forty percent. You're like, this is safe.

681
00:34:15,239 --> 00:34:16,719
Speaker 1: You know, you're just sitting there and to cash is

682
00:34:16,800 --> 00:34:20,360
Speaker 1: just earning interest on that. I wasn't doing any crazy levers.

683
00:34:20,440 --> 00:34:22,840
Speaker 1: But look, that's a good lesson that these fdi C

684
00:34:23,040 --> 00:34:26,200
Speaker 1: and other institutions. They exist for a reason, very painful

685
00:34:26,360 --> 00:34:29,120
Speaker 1: lessons that we all had to learn in the nineteen twenties.

686
00:34:29,200 --> 00:34:30,759
Speaker 1: And yeah, I mean I think you know, I'm a

687
00:34:30,800 --> 00:34:33,000
Speaker 1: micro coll I didn't put my life savings in there,

688
00:34:33,000 --> 00:34:35,480
Speaker 1: although you know at the time when I invested all

689
00:34:35,520 --> 00:34:37,120
Speaker 1: that, that that was a lot of money for me. And

690
00:34:37,400 --> 00:34:40,719
Speaker 1: that was one of those important This is an important

691
00:34:41,239 --> 00:34:44,520
Speaker 1: lesson to see. You're like, wow, like these the trust

692
00:34:44,560 --> 00:34:46,800
Speaker 1: in the institutions, and like, you know, you buy into

693
00:34:46,880 --> 00:34:50,160
Speaker 1: oh well it's a regulated company, right, Like they even

694
00:34:50,200 --> 00:34:53,080
Speaker 1: though they had their fine on the fcc SEC, they

695
00:34:53,080 --> 00:34:55,359
Speaker 1: have billions of dollars on platform. You know. Yeah, all

696
00:34:55,400 --> 00:34:57,800
Speaker 1: this it is all fake. It literally dried up overnight.

697
00:34:57,880 --> 00:35:00,799
Speaker 1: It's gone because it's ultimately built on nothing. I mean,

698
00:35:01,080 --> 00:35:04,560
Speaker 1: crypto is it's not pegged to anything. I mean, it's

699
00:35:04,600 --> 00:35:08,319
Speaker 1: literally just an invented currency. And I know people said, well,

700
00:35:08,320 --> 00:35:11,880
Speaker 1: so is fiat currency. Yeah, but the American dollar is

701
00:35:11,960 --> 00:35:14,799
Speaker 1: backed by the American government, like it's a thing. We

702
00:35:14,880 --> 00:35:17,800
Speaker 1: have an army, we have a federal reserve, we have treasury,

703
00:35:17,840 --> 00:35:20,440
Speaker 1: we have a whole lot of people like bay in taxes.

704
00:35:20,600 --> 00:35:23,279
Speaker 1: There's a lot of stuff there, and you can use

705
00:35:23,400 --> 00:35:27,560
Speaker 1: a dollar to buy goods and services, which never came

706
00:35:27,600 --> 00:35:31,880
Speaker 1: to fruition in any real way with crypto. So the

707
00:35:31,960 --> 00:35:35,840
Speaker 1: whole thing could sustain as long as you had people

708
00:35:35,960 --> 00:35:39,120
Speaker 1: believing in the dream and getting more people in and

709
00:35:39,120 --> 00:35:41,960
Speaker 1: more people in, and as long as the balloon kept inflating,

710
00:35:42,239 --> 00:35:44,880
Speaker 1: it was fine. But then the minute that and this

711
00:35:45,040 --> 00:35:46,960
Speaker 1: was you know, this was part of what exposed that

712
00:35:47,080 --> 00:35:49,160
Speaker 1: some of the rhetoric around this wasn't true. You know,

713
00:35:49,400 --> 00:35:51,640
Speaker 1: Crypto was the first thing to collapse when the market

714
00:35:51,719 --> 00:35:54,719
Speaker 1: start to turn south, and that's counter to some of

715
00:35:54,760 --> 00:35:57,360
Speaker 1: the rhetoric in the community. And so the minute that

716
00:35:57,400 --> 00:35:59,560
Speaker 1: the air starts to come out of that balloon, it's

717
00:35:59,600 --> 00:36:02,799
Speaker 1: just done. After Domino after Domino, and you know, this

718
00:36:02,920 --> 00:36:06,359
Speaker 1: being sadly the latest ones, let's go. That's all right.

719
00:36:06,440 --> 00:36:09,560
Speaker 1: Look again, it's one of those things where it's a lesson.

720
00:36:09,680 --> 00:36:12,080
Speaker 1: At least I get to share it with everybody here,

721
00:36:12,160 --> 00:36:14,239
Speaker 1: So don't fall for the easy schemes. And I have

722
00:36:14,280 --> 00:36:16,359
Speaker 1: some things are too good to be true. I mean

723
00:36:16,400 --> 00:36:19,320
Speaker 1: it does. I was like I couldn't believe. I cannot

724
00:36:19,320 --> 00:36:21,680
Speaker 1: believe it's paying like eight or nine percent interest, Like

725
00:36:21,719 --> 00:36:23,319
Speaker 1: this is nuts, and I was like, wait, so it's

726
00:36:23,360 --> 00:36:24,799
Speaker 1: like you don't even have to risk it, just put

727
00:36:24,800 --> 00:36:27,640
Speaker 1: it in there and you get interest on your money. Look,

728
00:36:27,680 --> 00:36:31,000
Speaker 1: I got lucky twenty seventeen. I bought bitcoin even where

729
00:36:31,000 --> 00:36:33,040
Speaker 1: it is right now. It was along of a a believer

730
00:36:33,200 --> 00:36:34,879
Speaker 1: in this. It was one of those things where it's

731
00:36:34,920 --> 00:36:37,759
Speaker 1: like you literally couldn't exist outside of the in the

732
00:36:37,760 --> 00:36:41,200
Speaker 1: equities markets. I felt for the hype just like everybody else.

733
00:36:41,239 --> 00:36:43,920
Speaker 1: And anyway, it's painful reminder, but at least I get

734
00:36:43,920 --> 00:36:46,239
Speaker 1: to share it with all you find people on a

735
00:36:46,360 --> 00:36:48,560
Speaker 1: much bigger level. Let's go to the next one. This

736
00:36:48,719 --> 00:36:51,319
Speaker 1: was reporting from David dan which is very important. Yeah,

737
00:36:51,400 --> 00:36:53,800
Speaker 1: let's put it up there on the screen. Congress members

738
00:36:53,960 --> 00:36:58,319
Speaker 1: tried to stop the SEC's inquiry into ft X. There

739
00:36:58,440 --> 00:37:02,080
Speaker 1: is a caucus known as the Quote Blockchain eight consisting

740
00:37:02,160 --> 00:37:06,080
Speaker 1: it's bipartisan of Democrats and of Republicans, who wrote to

741
00:37:06,320 --> 00:37:10,440
Speaker 1: a letter in March attempting to stop the SEC's information

742
00:37:10,600 --> 00:37:16,239
Speaker 1: requests to crypto firms, including FTX. They say, quote, my

743
00:37:16,320 --> 00:37:19,120
Speaker 1: office has received numerous tips from crypto and blockchain firms

744
00:37:19,239 --> 00:37:22,320
Speaker 1: that the SEC is reporting requests to the crypto community

745
00:37:22,320 --> 00:37:25,880
Speaker 1: are overburdensome and don't feel particularly voluntary on our stifling

746
00:37:26,400 --> 00:37:29,920
Speaker 1: innovation that was listed in March of March sixteenth of

747
00:37:29,960 --> 00:37:33,520
Speaker 1: twenty twenty two, so not sent that long ago. And

748
00:37:33,760 --> 00:37:37,560
Speaker 1: lo and Behold not only have they received personal donations

749
00:37:37,760 --> 00:37:41,680
Speaker 1: from FTX and from other crypto associated super packs, but

750
00:37:42,560 --> 00:37:46,120
Speaker 1: they were actively bullying the SEC to try and stop

751
00:37:46,160 --> 00:37:50,399
Speaker 1: them for information requests to these major crypto platforms. It's

752
00:37:50,400 --> 00:37:53,080
Speaker 1: totally ridiculous, and by the way, it might have worked,

753
00:37:53,239 --> 00:37:58,440
Speaker 1: because the SEC did send letters requests for information from FDx.

754
00:37:58,480 --> 00:38:02,800
Speaker 1: They were looking into, Okay, what's going on here, concerned

755
00:38:02,800 --> 00:38:05,120
Speaker 1: about some of the very issues that ended up being

756
00:38:06,120 --> 00:38:11,520
Speaker 1: total fraud from FDx, and these this group that is

757
00:38:11,560 --> 00:38:15,200
Speaker 1: getting campaign contributions from FDx and from the crypto industry

758
00:38:15,360 --> 00:38:19,000
Speaker 1: at large. They write this letter pressuring the SEC and

759
00:38:19,080 --> 00:38:24,040
Speaker 1: Loan Behold investigation stops. So there is some evidence that possibly,

760
00:38:24,120 --> 00:38:27,000
Speaker 1: I mean it's correlations, not causation, but it may have worked.

761
00:38:27,320 --> 00:38:29,560
Speaker 1: Dan goes on to and by the way, what a

762
00:38:29,560 --> 00:38:31,680
Speaker 1: phenomenal reporter this guy is. By the way, if you

763
00:38:31,680 --> 00:38:34,919
Speaker 1: don't support the American Prospect, they really do tremendous work

764
00:38:35,239 --> 00:38:39,200
Speaker 1: that nobody else is doing. But he writes the unorthodox

765
00:38:39,280 --> 00:38:43,040
Speaker 1: letter is analogous to the nineteen eighty seven Keating five scandal.

766
00:38:43,360 --> 00:38:46,080
Speaker 1: At that time, five Senators, including a young Arizona Republican

767
00:38:46,160 --> 00:38:50,040
Speaker 1: named John McCain, pressured the Federal Home Loan Bank Board

768
00:38:50,160 --> 00:38:53,520
Speaker 1: into shutting down an investigation into Lincoln Savings and Loan

769
00:38:53,560 --> 00:38:56,160
Speaker 1: and Chair Charles Keating Junior. Keating was a donor to

770
00:38:56,239 --> 00:39:00,000
Speaker 1: all five senators, giving one point three million over the years.

771
00:39:00,080 --> 00:39:05,680
Speaker 1: Turned into a gigantic scandal when that bank collapsed ultimately,

772
00:39:05,800 --> 00:39:09,640
Speaker 1: so some echoes there of the exact same type of

773
00:39:09,719 --> 00:39:14,000
Speaker 1: congressional pressure put on regulators to stop their scrutiny into FTX.

774
00:39:14,440 --> 00:39:17,680
Speaker 1: And you know, I think it's a very important thread

775
00:39:17,719 --> 00:39:20,600
Speaker 1: to follow because there were a lot of members of Congress.

776
00:39:20,640 --> 00:39:25,920
Speaker 1: I mean, SBF was famously playing big time in Democratic primaries,

777
00:39:26,000 --> 00:39:29,840
Speaker 1: in particular, throwing a lot of money around, getting glowing profiles,

778
00:39:30,320 --> 00:39:33,040
Speaker 1: getting you know, paling around with all kinds of members

779
00:39:33,040 --> 00:39:37,160
Speaker 1: of Congress and really sort of creating from scratch a

780
00:39:37,200 --> 00:39:41,040
Speaker 1: gigantic influence operation. And I think that you know, digging

781
00:39:41,080 --> 00:39:44,239
Speaker 1: into how that all unfolded and what he got for

782
00:39:44,320 --> 00:39:46,640
Speaker 1: the money that he was giving, and other crypto industry

783
00:39:46,680 --> 00:39:48,920
Speaker 1: players is really important piece of us. Yeah, absolutely, I

784
00:39:48,960 --> 00:39:51,200
Speaker 1: mean I think the most important one is really just

785
00:39:51,280 --> 00:39:54,719
Speaker 1: that it is they. It shows you that there were

786
00:39:54,920 --> 00:39:59,960
Speaker 1: major attempts made by government, by Congress members who took

787
00:40:00,080 --> 00:40:04,920
Speaker 1: money from these crypto associated platforms, as well as FTX

788
00:40:04,960 --> 00:40:08,640
Speaker 1: that actively tried to SIGNI the SEC investigation. I've got

789
00:40:08,640 --> 00:40:12,040
Speaker 1: my monologue today on really a media scandal of pretty

790
00:40:12,040 --> 00:40:15,840
Speaker 1: crazy proportions where they effectively did not investigate SBF because

791
00:40:15,880 --> 00:40:19,280
Speaker 1: they liked money and prestige and didn't want to lose access.

792
00:40:19,280 --> 00:40:21,399
Speaker 1: I'll be going into that deeply, but yeah, I think

793
00:40:21,400 --> 00:40:24,680
Speaker 1: this reveals a lot, you know, about our economy right now,

794
00:40:24,840 --> 00:40:28,520
Speaker 1: and about really some of the promises that were made,

795
00:40:28,560 --> 00:40:31,640
Speaker 1: and just the corruption at the governmental level, which is outrageous. Yeah,

796
00:40:31,760 --> 00:40:34,319
Speaker 1: I mean, the business press really lent a lot of

797
00:40:34,320 --> 00:40:37,319
Speaker 1: these organizations credibility they did not deserve. They did not

798
00:40:37,360 --> 00:40:40,400
Speaker 1: apply the scrutiny, they did not have the skepticism that

799
00:40:40,440 --> 00:40:43,200
Speaker 1: they should have had in these instances, and so you know,

800
00:40:43,239 --> 00:40:45,200
Speaker 1: what you end up with is people like we were

801
00:40:45,239 --> 00:40:48,920
Speaker 1: telling you about before, who lost everything, who you know,

802
00:40:49,040 --> 00:40:50,919
Speaker 1: didn't have a lot to lose and lost it at all,

803
00:40:50,960 --> 00:40:52,719
Speaker 1: who thought this was going to be their ticket to

804
00:40:52,840 --> 00:40:55,600
Speaker 1: like the middle class, like just basic stability, be able

805
00:40:55,640 --> 00:40:57,120
Speaker 1: to build a little bit of wealth of their own,

806
00:40:57,400 --> 00:41:01,040
Speaker 1: and now it is all stolen from them. Ultimately, it's

807
00:41:01,160 --> 00:41:09,640
Speaker 1: just a heartbreaking story. All right, Okay, let's get to Balenciaga.

808
00:41:09,719 --> 00:41:11,680
Speaker 1: You guys, I don't know if you've been following this online,

809
00:41:11,680 --> 00:41:15,360
Speaker 1: but this is really really something, so of course, luxury

810
00:41:15,400 --> 00:41:19,560
Speaker 1: fashion house, storied, renowned fashion house, Balenciaga. Let's go and

811
00:41:19,560 --> 00:41:22,759
Speaker 1: put this up on the screen. Under fire over what

812
00:41:22,800 --> 00:41:25,440
Speaker 1: they describe here with the New York Post as creepy ads,

813
00:41:25,520 --> 00:41:32,040
Speaker 1: I would say disgusting, disturbing ads of kids with bondage outfits.

814
00:41:33,040 --> 00:41:35,120
Speaker 1: We are not going to put these photos up on

815
00:41:35,160 --> 00:41:38,359
Speaker 1: the screen, but I will describe them to you. Young

816
00:41:38,480 --> 00:41:44,000
Speaker 1: children I'm talking maybe four years old, standing and positioned

817
00:41:44,080 --> 00:41:49,200
Speaker 1: in somewhat suggestive positions holding these teddy bears that are

818
00:41:49,280 --> 00:41:54,719
Speaker 1: wearing BDSM gear in some of the pictures. There's also

819
00:41:55,040 --> 00:42:02,480
Speaker 1: other like chain choker looking things in the pictures, and

820
00:42:02,760 --> 00:42:05,440
Speaker 1: it is incredibly disturbing and you're just looking at it.

821
00:42:05,440 --> 00:42:08,280
Speaker 1: You're like, how in the hell did this get greenlit

822
00:42:08,440 --> 00:42:12,440
Speaker 1: by anyone? Let alone actually go forward and become a

823
00:42:12,480 --> 00:42:15,480
Speaker 1: major ad campaign and get released to the public with

824
00:42:15,600 --> 00:42:19,200
Speaker 1: no one going, what the hell are you thinking about here?

825
00:42:19,640 --> 00:42:23,919
Speaker 1: So there's been huge fallout from this, obviously because Blenciaga

826
00:42:23,960 --> 00:42:27,120
Speaker 1: is associated with all sorts of celebrities, including in particular

827
00:42:27,560 --> 00:42:29,960
Speaker 1: Kim Kardashians. They'd already dropped Kanye, so I guess he

828
00:42:30,000 --> 00:42:31,799
Speaker 1: doesn't have to say anything about it, but they were

829
00:42:31,840 --> 00:42:35,320
Speaker 1: still associated with Kim Kardashian. She just put out a statement.

830
00:42:35,400 --> 00:42:37,920
Speaker 1: She says, I've been quiet for the past few days,

831
00:42:37,920 --> 00:42:40,319
Speaker 1: not because I haven't been disgusted and outraged by the

832
00:42:40,320 --> 00:42:43,960
Speaker 1: recent Blenciaga campaigns, but because I wanted an opportunity to

833
00:42:44,000 --> 00:42:46,520
Speaker 1: speak to their team to understand for myself how this

834
00:42:46,600 --> 00:42:49,480
Speaker 1: could have happened question we all have. As mother four,

835
00:42:49,520 --> 00:42:51,920
Speaker 1: I've been shaken by the disturbing images. The safety of

836
00:42:51,960 --> 00:42:53,920
Speaker 1: children must be held with the highest regard, and any

837
00:42:53,920 --> 00:42:57,319
Speaker 1: attempts to normalize child abuse of any kind should have

838
00:42:57,400 --> 00:43:00,720
Speaker 1: no place in our society. Period. Appreciate balencia is removal

839
00:43:00,760 --> 00:43:02,879
Speaker 1: of the campaigns and their apology and speaking with them.

840
00:43:02,920 --> 00:43:05,279
Speaker 1: I believe they understand the seriousness of the issue and

841
00:43:05,280 --> 00:43:08,400
Speaker 1: will take the necessary measures for this to never happen again.

842
00:43:08,719 --> 00:43:12,600
Speaker 1: As for my future with Valenciaga, I'm currently reevaluating my

843
00:43:12,680 --> 00:43:15,520
Speaker 1: relationship with the brand, basing it off their willingness to

844
00:43:15,560 --> 00:43:18,080
Speaker 1: accept accountability for something that should have never happened to

845
00:43:18,160 --> 00:43:20,560
Speaker 1: begin with, and the actions I am expecting to see

846
00:43:20,719 --> 00:43:23,160
Speaker 1: them take to protect children. So she's taking a little

847
00:43:23,160 --> 00:43:26,760
Speaker 1: bit of a wait and see attitude here. Ultimately, people

848
00:43:26,880 --> 00:43:32,160
Speaker 1: after this disturbing, really terrible ad campaign came to light

849
00:43:32,239 --> 00:43:35,000
Speaker 1: with these kids and the bondage bears and whatever the

850
00:43:35,040 --> 00:43:38,439
Speaker 1: hell was going on there, people also found another ad

851
00:43:38,480 --> 00:43:43,279
Speaker 1: campaign where on a desk were strewn some papers that

852
00:43:43,360 --> 00:43:46,160
Speaker 1: look just sort of like casually laid out, and some

853
00:43:46,239 --> 00:43:50,480
Speaker 1: of the papers, if you look closely, are to involve

854
00:43:50,480 --> 00:43:55,839
Speaker 1: a landmark legal case, which is with regard to child pornography.

855
00:43:56,239 --> 00:43:58,799
Speaker 1: So people looked at that too and are like, what

856
00:43:58,880 --> 00:44:02,480
Speaker 1: the hell is going on at Balenciaga. Now they've put out,

857
00:44:02,760 --> 00:44:07,240
Speaker 1: they apologized, they put out their own statement. They also,

858
00:44:07,320 --> 00:44:09,440
Speaker 1: by the way, which I think is I don't know,

859
00:44:09,840 --> 00:44:14,280
Speaker 1: they're pursuing one of the companies that put that produced

860
00:44:14,400 --> 00:44:16,879
Speaker 1: the ad. I think that in particular, had the child

861
00:44:16,960 --> 00:44:20,680
Speaker 1: born legal document situation. They say we'd like to address

862
00:44:20,719 --> 00:44:24,000
Speaker 1: the controversy surrounding our ad campaigns. We strongly condemned child

863
00:44:24,040 --> 00:44:26,239
Speaker 1: abuse abuse. It was never our intent to include it

864
00:44:26,280 --> 00:44:29,000
Speaker 1: in our narrative. The two separate ad campaigns in question

865
00:44:29,080 --> 00:44:33,920
Speaker 1: reflect a series of grievous errors for which Balenciaga takes responsibility.

866
00:44:34,640 --> 00:44:37,960
Speaker 1: The first campaign, they say, the one with the kids

867
00:44:38,000 --> 00:44:41,120
Speaker 1: and the BDSM bears, they say, it was a wrong

868
00:44:41,239 --> 00:44:45,520
Speaker 1: choice by Balenciaga, combined with our failure in assessing and

869
00:44:45,640 --> 00:44:50,040
Speaker 1: validating images. The responsibility for this lies with Balenciaga alone.

870
00:44:50,360 --> 00:44:52,120
Speaker 1: And then with the other one, where they're already the

871
00:44:52,160 --> 00:44:56,080
Speaker 1: legal papers, they try to shift blame to the ad

872
00:44:56,120 --> 00:44:58,360
Speaker 1: company and say, listen, we take full accountability for a

873
00:44:58,440 --> 00:45:01,880
Speaker 1: lack of oversight and control. Should have not had those

874
00:45:01,920 --> 00:45:03,799
Speaker 1: documents in the background, but they didn't really know what

875
00:45:03,880 --> 00:45:07,560
Speaker 1: was going on. And then they go through, we're conducting investigations,

876
00:45:07,640 --> 00:45:11,080
Speaker 1: closely revising our organization collective ways of working, reinforcing the

877
00:45:11,120 --> 00:45:14,719
Speaker 1: structures around our creative processes and validation steps, and we're

878
00:45:14,760 --> 00:45:18,160
Speaker 1: laying the groundwork with organizations who specialize in child protection

879
00:45:18,280 --> 00:45:21,919
Speaker 1: and aims at ending child abuse and exploitations. Yeah, there

880
00:45:21,960 --> 00:45:23,560
Speaker 1: you go. I don't even really know what to make

881
00:45:23,560 --> 00:45:26,040
Speaker 1: of this. I mean, clearly there's a sick person who

882
00:45:26,080 --> 00:45:28,560
Speaker 1: was involved, and maybe multiple sick people who. I mean,

883
00:45:28,920 --> 00:45:30,920
Speaker 1: here's something I believe there. I don't believe for a

884
00:45:31,000 --> 00:45:33,800
Speaker 1: second that those papers just ended up on the desk

885
00:45:34,000 --> 00:45:38,439
Speaker 1: in the photo by accident. That's so weird. They claim

886
00:45:38,480 --> 00:45:40,080
Speaker 1: that it came from a TV set, and I'm like,

887
00:45:40,120 --> 00:45:43,839
Speaker 1: you randomly grabbed some TV sets a legal document helped

888
00:45:43,840 --> 00:45:46,680
Speaker 1: me into child porn. Yeah, something tells me that there's

889
00:45:46,719 --> 00:45:49,879
Speaker 1: a sick individual involved in this process. But I mean

890
00:45:49,960 --> 00:45:53,799
Speaker 1: it does go to a really gross element on Balenciaga's part,

891
00:45:53,840 --> 00:45:56,680
Speaker 1: which is, you know, they claim independence from this entire

892
00:45:56,680 --> 00:45:59,200
Speaker 1: ad campaign, but I'm not so sure because there have

893
00:45:59,200 --> 00:46:03,239
Speaker 1: been other allegations around, like having baby dolls at fashion shits,

894
00:46:03,320 --> 00:46:05,759
Speaker 1: some other really sick stuff, and you know, for us,

895
00:46:05,840 --> 00:46:07,640
Speaker 1: it's very hard for us to parse like what is

896
00:46:07,680 --> 00:46:11,960
Speaker 1: a like what is conspiracy and then what is actually true.

897
00:46:12,280 --> 00:46:14,360
Speaker 1: But you know, from what I have seen, the photos

898
00:46:14,440 --> 00:46:17,200
Speaker 1: are correct in terms of their use of dolls that

899
00:46:17,239 --> 00:46:20,480
Speaker 1: they had people wearing in fashion shows and really on

900
00:46:20,560 --> 00:46:23,640
Speaker 1: this ad campaign. I mean, they're trying to blame this

901
00:46:23,760 --> 00:46:26,560
Speaker 1: ad company suing them for twenty five million so far

902
00:46:26,719 --> 00:46:30,520
Speaker 1: for extensive damages. But does the campaign really do the

903
00:46:30,560 --> 00:46:34,320
Speaker 1: photo shoots just happen in a vacuum, Like somebody somewhere

904
00:46:34,520 --> 00:46:36,960
Speaker 1: had to have editorial direction to try and put these

905
00:46:37,000 --> 00:46:39,839
Speaker 1: teddy bears and put these kids in like like, I mean,

906
00:46:39,880 --> 00:46:44,400
Speaker 1: they don't even dectionalized positions their acceptance of that campaign, Okay,

907
00:46:44,960 --> 00:46:47,760
Speaker 1: they you know, they say this was a wrong choice

908
00:46:47,800 --> 00:46:51,399
Speaker 1: by Balenciaga. So that's the thing I keep coming back

909
00:46:51,440 --> 00:46:54,160
Speaker 1: to is think of all of the people that were

910
00:46:54,239 --> 00:46:58,839
Speaker 1: involved in this, and no one was like, guys, this

911
00:46:58,920 --> 00:47:02,160
Speaker 1: is gross. Maybe let's come up with a different concept

912
00:47:02,200 --> 00:47:05,400
Speaker 1: that doesn't involve kids hanging out with you know, teddy

913
00:47:05,440 --> 00:47:09,160
Speaker 1: bears with BDSM gear and like choker collars on the table.

914
00:47:10,400 --> 00:47:12,880
Speaker 1: I mean, I want to know what the parents were thinking.

915
00:47:12,920 --> 00:47:14,680
Speaker 1: I want to know what the photographer was thinking. I

916
00:47:14,719 --> 00:47:16,279
Speaker 1: want to know what the people came up with the

917
00:47:16,280 --> 00:47:18,319
Speaker 1: campaign was thinking. I want to know what Balencia was

918
00:47:18,360 --> 00:47:20,719
Speaker 1: thinking thinking that this was okay to go forward with.

919
00:47:21,320 --> 00:47:24,560
Speaker 1: It's disturbing on every single level. It's not the first

920
00:47:24,560 --> 00:47:27,080
Speaker 1: time the fashion industry has played with like, you know,

921
00:47:27,480 --> 00:47:32,440
Speaker 1: indulging the fantasies of pedophiles to appear like glamorous or

922
00:47:32,560 --> 00:47:34,600
Speaker 1: artsy or whatever the hell they think they're doing. Here.

923
00:47:34,800 --> 00:47:38,960
Speaker 1: We're watching that documentary on Victoria's Secret and Les Wexner.

924
00:47:39,480 --> 00:47:41,920
Speaker 1: They had a fashion show that the whole theme was

925
00:47:42,000 --> 00:47:48,000
Speaker 1: like children's bedtime stories, and it was weird, but at least,

926
00:47:48,040 --> 00:47:50,600
Speaker 1: I mean, they had grown ups who were wearing like

927
00:47:51,080 --> 00:47:54,719
Speaker 1: kids clothes and carrying around like lollipops. I'm just like,

928
00:47:54,800 --> 00:47:57,799
Speaker 1: what were you thinking about with this? So I don't

929
00:47:57,800 --> 00:47:59,960
Speaker 1: know what to say about this. I just can't understand

930
00:48:00,280 --> 00:48:03,200
Speaker 1: how every single person who was involved in this, how

931
00:48:03,239 --> 00:48:05,200
Speaker 1: no one raised their hand and said, you know what, guys,

932
00:48:05,520 --> 00:48:07,600
Speaker 1: let's kill us. This is not this is not right,

933
00:48:07,640 --> 00:48:10,399
Speaker 1: this is not good. Yeah. I think what is really crazy, too,

934
00:48:10,440 --> 00:48:12,920
Speaker 1: is that there are two separate ad campaigns, and one,

935
00:48:13,080 --> 00:48:17,600
Speaker 1: as you said, clearly uh take clearly, was directed by Balenciaga.

936
00:48:17,600 --> 00:48:19,560
Speaker 1: I also have no reason, I think, at this point,

937
00:48:19,800 --> 00:48:21,440
Speaker 1: to not think that they thought it was going to

938
00:48:21,480 --> 00:48:24,840
Speaker 1: be good, because apparently part of their whole ad campaign

939
00:48:25,320 --> 00:48:28,520
Speaker 1: is about forcing consumers to grapple with the meaning of

940
00:48:28,600 --> 00:48:32,000
Speaker 1: quote taste. So they're constantly trying to push the bounty,

941
00:48:32,120 --> 00:48:35,759
Speaker 1: the edgy, edgy provocative, right, So you can see it

942
00:48:35,800 --> 00:48:38,080
Speaker 1: in a pretentious fashion way, but I think, you know,

943
00:48:38,160 --> 00:48:42,200
Speaker 1: involving children like that's sick and deranged. So look, I

944
00:48:42,239 --> 00:48:44,799
Speaker 1: just think of the very basics who I think there

945
00:48:44,800 --> 00:48:47,960
Speaker 1: needs to be a very thorough investigation by possibly a

946
00:48:48,040 --> 00:48:51,120
Speaker 1: law enforcement entity. I really think there's a sick person

947
00:48:51,400 --> 00:48:54,000
Speaker 1: who is involved with those papers, Like there is something

948
00:48:54,040 --> 00:48:56,720
Speaker 1: going on. You don't just happen to place those papers

949
00:48:56,719 --> 00:49:00,279
Speaker 1: there like that is some It could be one could

950
00:49:00,320 --> 00:49:03,879
Speaker 1: be some others who clearly are getting their rocks off,

951
00:49:04,000 --> 00:49:05,839
Speaker 1: like even thinking about it and trying to put it

952
00:49:06,080 --> 00:49:08,880
Speaker 1: out in the public spare possibly trying to normalize it.

953
00:49:08,920 --> 00:49:10,920
Speaker 1: And then at the executive level, I mean, look, I

954
00:49:10,960 --> 00:49:13,480
Speaker 1: don't know exactly what's happening here, but at a basic

955
00:49:13,680 --> 00:49:16,319
Speaker 1: child exploitation, like you know, they very much could be.

956
00:49:17,400 --> 00:49:20,279
Speaker 1: They could be. They could go after them for even

957
00:49:20,320 --> 00:49:22,360
Speaker 1: putting kids in a situation like that, like they shouldn't

958
00:49:22,440 --> 00:49:24,920
Speaker 1: even the models themselves like should not be exposed to

959
00:49:25,040 --> 00:49:27,360
Speaker 1: the sickness. So I don't have anything to say except

960
00:49:27,360 --> 00:49:29,440
Speaker 1: for those sick and I hope this. I think Kim's

961
00:49:29,440 --> 00:49:31,760
Speaker 1: statement is kind of weak too. I mean, she's clearly

962
00:49:31,760 --> 00:49:34,279
Speaker 1: trying to sound the right notes here, how very concerned

963
00:49:34,320 --> 00:49:36,520
Speaker 1: and this is disturbing. I don't understand how this could

964
00:49:36,560 --> 00:49:39,160
Speaker 1: have happened. But at the end she's like, yeah, I'm

965
00:49:39,200 --> 00:49:42,120
Speaker 1: staying with them, and you're evaluating our Really, what is

966
00:49:42,200 --> 00:49:44,799
Speaker 1: the point of being a billionaire if you can't say

967
00:49:45,280 --> 00:49:48,879
Speaker 1: screw you to people who play foot see with pedophilia? Yeah,

968
00:49:48,880 --> 00:49:50,600
Speaker 1: what was the point? I mean to go back to

969
00:49:50,640 --> 00:49:52,680
Speaker 1: our previous segment about crypto, she was one of the

970
00:49:52,680 --> 00:49:55,960
Speaker 1: ones who was like actually called out by the SEC

971
00:49:56,360 --> 00:50:01,359
Speaker 1: yes for pushing one of these scam crypto, you know,

972
00:50:01,600 --> 00:50:04,960
Speaker 1: schemes that ultimately ends up completely collapsing. Of course, she

973
00:50:05,000 --> 00:50:06,799
Speaker 1: gets paid in cash, so it doesn't matter to her

974
00:50:06,920 --> 00:50:10,640
Speaker 1: what happens to all people who ultimately invested in this

975
00:50:11,280 --> 00:50:14,160
Speaker 1: pile of dog poo that ends up instantly collapsing. So

976
00:50:14,640 --> 00:50:16,600
Speaker 1: not a lot of scruples there. No, I just I

977
00:50:17,080 --> 00:50:19,160
Speaker 1: really don't get you know, she is, she's a mom's

978
00:50:19,200 --> 00:50:21,360
Speaker 1: like multiple small kids. It's like you should know better

979
00:50:21,480 --> 00:50:24,319
Speaker 1: than anybody about how sick this is. And you know what,

980
00:50:24,400 --> 00:50:26,480
Speaker 1: I don't know. I really don't know what say. Okay.

981
00:50:26,719 --> 00:50:30,319
Speaker 1: Turning to domestic politics, the Georgia runoff is actually going

982
00:50:30,320 --> 00:50:33,200
Speaker 1: on now. Voters are already headed to the polls. Of course,

983
00:50:33,239 --> 00:50:36,800
Speaker 1: this is Raphael Warnock versus herschel Walker, not really the rematch,

984
00:50:36,880 --> 00:50:38,880
Speaker 1: but neither one of them was able to get past

985
00:50:38,880 --> 00:50:43,480
Speaker 1: that fifty percent benchmark in the November vote, so that

986
00:50:43,520 --> 00:50:46,200
Speaker 1: sent them to this runoff. Final day of which of

987
00:50:46,440 --> 00:50:48,680
Speaker 1: in person voting will be next week on Tuesday, So

988
00:50:48,680 --> 00:50:51,799
Speaker 1: we're exactly one week out from knowing the results, maybe

989
00:50:51,840 --> 00:50:54,680
Speaker 1: depending on how fast they count the ballots of who

990
00:50:54,719 --> 00:50:57,360
Speaker 1: will be the next Senator from the state of Georgia.

991
00:50:57,360 --> 00:51:00,560
Speaker 1: Of course, Democrats don't need this seat to have control

992
00:51:00,560 --> 00:51:03,080
Speaker 1: of the Senate, but the stakes are still very significant

993
00:51:03,120 --> 00:51:06,880
Speaker 1: because the next election cycle in twenty twenty four, Democrats

994
00:51:06,880 --> 00:51:10,800
Speaker 1: have a very difficult map to defend, including Joe Manchin

995
00:51:10,880 --> 00:51:12,840
Speaker 1: is up in West Virginia. That's going to be a

996
00:51:12,880 --> 00:51:15,560
Speaker 1: tough one. John Tester is up as well. Both of

997
00:51:15,560 --> 00:51:17,360
Speaker 1: those are going to be very hard seats to defend.

998
00:51:17,400 --> 00:51:20,080
Speaker 1: So it matters a lot whether they are able to

999
00:51:20,160 --> 00:51:22,240
Speaker 1: win the seat and have a little bit of margin

1000
00:51:22,280 --> 00:51:25,160
Speaker 1: for air going into the next election cycle. Okay, so

1001
00:51:25,360 --> 00:51:27,600
Speaker 1: that's the backstory. We do have a little bit of polling.

1002
00:51:27,640 --> 00:51:29,520
Speaker 1: Let's put this up on the screen. This is from

1003
00:51:29,520 --> 00:51:34,520
Speaker 1: the Atlanta Journal Constitution. They have an interesting age breakdown here.

1004
00:51:35,000 --> 00:51:38,799
Speaker 1: Warnock apparently leads voters between the ages of eighteen and

1005
00:51:38,880 --> 00:51:40,840
Speaker 1: forty nine, so under the age of fifty, by a

1006
00:51:40,880 --> 00:51:43,840
Speaker 1: twenty four point margin, so he's cleaning up there. However,

1007
00:51:44,520 --> 00:51:47,920
Speaker 1: Walker has a nine point edge among older voters older

1008
00:51:47,960 --> 00:51:52,239
Speaker 1: than fifty, and ninety percent of those older voters are

1009
00:51:52,320 --> 00:51:56,560
Speaker 1: extremely motivated, versus only seventy five percent of the voters

1010
00:51:56,760 --> 00:52:00,880
Speaker 1: younger than fifty who share that intensity. This poll, the

1011
00:52:00,880 --> 00:52:05,520
Speaker 1: top line numbers here Sager commissioned by the AARP has

1012
00:52:05,600 --> 00:52:09,040
Speaker 1: Warnock at fifty one Walker at forty seven. That is

1013
00:52:09,320 --> 00:52:12,640
Speaker 1: within the margin of era of four point four percentage points.

1014
00:52:13,000 --> 00:52:17,080
Speaker 1: And it also shows that Warnock has a sizeable lead

1015
00:52:17,280 --> 00:52:21,200
Speaker 1: fifty four to thirty nine over Walker among independent voters.

1016
00:52:21,239 --> 00:52:24,280
Speaker 1: So Walker has done a better job so far according

1017
00:52:24,320 --> 00:52:28,800
Speaker 1: to this pole in the runoff of consolidating Republicans completely

1018
00:52:28,840 --> 00:52:32,120
Speaker 1: behind him, which you know, George is still pretty conservative state.

1019
00:52:32,480 --> 00:52:35,680
Speaker 1: So in the original voting he had an issue with

1020
00:52:35,760 --> 00:52:38,399
Speaker 1: you know, Republican voters who were actually voting for Brian

1021
00:52:38,480 --> 00:52:41,560
Speaker 1: Kemp and then splitting off and voting for Warnock. Here

1022
00:52:41,600 --> 00:52:43,960
Speaker 1: he seems to have consolidated the Republican vote, but he

1023
00:52:44,120 --> 00:52:46,959
Speaker 1: is behind in terms of independence according to this poll.

1024
00:52:47,480 --> 00:52:50,400
Speaker 1: One of the things that's interesting here is the former

1025
00:52:50,440 --> 00:52:53,520
Speaker 1: president Trump has decided, let's put this up on the screen.

1026
00:52:53,680 --> 00:52:56,680
Speaker 1: He's decided he is going to stay away from George.

1027
00:52:56,920 --> 00:52:59,359
Speaker 1: That says he's going to have a limited role in

1028
00:52:59,520 --> 00:53:03,160
Speaker 1: the Georgia runoff. You will recall that the last time

1029
00:53:03,160 --> 00:53:05,839
Speaker 1: we had a pair of Georgia runoffs, Trump did come

1030
00:53:05,840 --> 00:53:08,320
Speaker 1: to the state. I think he did two separate rallies.

1031
00:53:08,520 --> 00:53:11,400
Speaker 1: Didn't end up working out too well for them. Trump,

1032
00:53:11,440 --> 00:53:15,000
Speaker 1: of course, is basically the entire reason that herschel Walker

1033
00:53:15,080 --> 00:53:18,120
Speaker 1: is the Republican nominee, but he and Walker have both

1034
00:53:18,120 --> 00:53:20,759
Speaker 1: decided that it is best if he stays away at

1035
00:53:20,760 --> 00:53:22,600
Speaker 1: this point. Yeah, lots to say about this, which I

1036
00:53:22,600 --> 00:53:25,600
Speaker 1: think is interesting, namely with Trump, and what they point

1037
00:53:25,640 --> 00:53:28,359
Speaker 1: to is that exit data actually shows us that one

1038
00:53:28,400 --> 00:53:32,279
Speaker 1: in three Georgia Republicans says quote, they are not supporters

1039
00:53:32,360 --> 00:53:35,560
Speaker 1: of the make America Grade Again movement, and that those

1040
00:53:35,680 --> 00:53:40,040
Speaker 1: people voted over ninety percent for Brian Kemp but did

1041
00:53:40,040 --> 00:53:43,800
Speaker 1: not but split pretty evenly for Herschel Walker. So clearly

1042
00:53:44,280 --> 00:53:47,360
Speaker 1: MAGA and Trump the impromoteur of the stop the steal

1043
00:53:47,440 --> 00:53:50,680
Speaker 1: and just like general craziness not sitting well with a

1044
00:53:50,680 --> 00:53:53,840
Speaker 1: lot of more traditional type Republicans who had no problem

1045
00:53:53,960 --> 00:53:57,719
Speaker 1: voting for Brian Kemp, no problem voting for Brad Rathlisberger,

1046
00:53:57,800 --> 00:53:59,719
Speaker 1: but with Walker, they're like, no, this is just a

1047
00:54:00,120 --> 00:54:03,240
Speaker 1: too far and you know not just beyond the polls.

1048
00:54:03,520 --> 00:54:06,880
Speaker 1: On the actual money side, Crystal Walker is getting outspent

1049
00:54:07,000 --> 00:54:10,680
Speaker 1: almost ten to one. I mean, Warnock has got some

1050
00:54:10,760 --> 00:54:13,360
Speaker 1: like thirty or forty million dollars that he spent on

1051
00:54:13,400 --> 00:54:15,960
Speaker 1: the race so far. And I'm almost getting the sense

1052
00:54:16,000 --> 00:54:18,479
Speaker 1: that the Republicans have effectively given up on this race,

1053
00:54:18,560 --> 00:54:21,440
Speaker 1: Like you don't see major Republicans traveling down to Georgia

1054
00:54:21,760 --> 00:54:23,839
Speaker 1: in the same way. They went ahead and they held

1055
00:54:23,880 --> 00:54:27,319
Speaker 1: the Senate elections, even though some people said, oh well,

1056
00:54:27,360 --> 00:54:29,360
Speaker 1: maybe we should wait to see if Hersonal Walker wins,

1057
00:54:29,480 --> 00:54:32,520
Speaker 1: like he's clearly you know, like they have it. They

1058
00:54:32,560 --> 00:54:35,960
Speaker 1: clearly are not believing here in Washington from the nrsc

1059
00:54:36,080 --> 00:54:38,439
Speaker 1: Rick Scott and others that this is a winnable race

1060
00:54:38,800 --> 00:54:41,439
Speaker 1: in any way, which honestly, I mean, look, it's still

1061
00:54:41,480 --> 00:54:44,439
Speaker 1: a close race, like it came into a runoff came

1062
00:54:44,480 --> 00:54:47,560
Speaker 1: within one point. You know, he didn't win more than

1063
00:54:47,600 --> 00:54:49,879
Speaker 1: fifty percent of the vote. Now you have that third

1064
00:54:49,880 --> 00:54:52,520
Speaker 1: party candidate who's no longer on the ballot and in

1065
00:54:52,520 --> 00:54:55,600
Speaker 1: an actual up and down, so it's not outside the

1066
00:54:55,640 --> 00:54:58,640
Speaker 1: realm of possibility. But I think the Republicans see the

1067
00:54:58,760 --> 00:55:01,360
Speaker 1: national tides and after the terms and are so deflated

1068
00:55:01,719 --> 00:55:04,720
Speaker 1: on top of Trump himself not wanting to attach himself

1069
00:55:04,719 --> 00:55:07,359
Speaker 1: to Walker that at this point like they look at

1070
00:55:07,400 --> 00:55:09,040
Speaker 1: it almost as a lost cause, which is kind of

1071
00:55:09,040 --> 00:55:11,600
Speaker 1: crazy when you consider it the Georgia runoff race. I mean,

1072
00:55:11,640 --> 00:55:16,480
Speaker 1: it could also be that they know that if Walker

1073
00:55:16,719 --> 00:55:20,200
Speaker 1: does win like he has, there's a possibility you're going

1074
00:55:20,280 --> 00:55:21,960
Speaker 1: to have some problems, and so they already lost a

1075
00:55:22,000 --> 00:55:24,080
Speaker 1: Senate so they're like, well, why would you want Yeah,

1076
00:55:24,160 --> 00:55:26,839
Speaker 1: let's I mean, listen, I don't think they've totally given

1077
00:55:26,880 --> 00:55:29,080
Speaker 1: up on it. They would obviously rather win this race

1078
00:55:29,160 --> 00:55:32,759
Speaker 1: than lose this race. But to your point about the

1079
00:55:32,760 --> 00:55:35,439
Speaker 1: money spent, let's go to the fourth element here. We've

1080
00:55:35,480 --> 00:55:38,439
Speaker 1: got Dems out spending Republicans on the air so far

1081
00:55:38,560 --> 00:55:41,440
Speaker 1: by the tune of thirty seven point four million to

1082
00:55:41,560 --> 00:55:45,120
Speaker 1: twenty point two million. This also, though just tracks with

1083
00:55:45,200 --> 00:55:50,200
Speaker 1: the way spending went in the midterms overall, where Trump

1084
00:55:50,280 --> 00:55:52,960
Speaker 1: sucks up so much of the money and so much

1085
00:55:52,960 --> 00:55:55,640
Speaker 1: of the pie, and it's very stingy about it. Does

1086
00:55:55,680 --> 00:55:58,360
Speaker 1: not spend on even the candidates like Kirsche Walker that

1087
00:55:58,400 --> 00:56:01,040
Speaker 1: are there because of him. And you add Rick Scott,

1088
00:56:01,520 --> 00:56:06,040
Speaker 1: head of the NRSC spending wildly early on and races

1089
00:56:06,120 --> 00:56:08,480
Speaker 1: like the Colorado and these places they didn't have a

1090
00:56:08,520 --> 00:56:11,080
Speaker 1: prayer at and a lot of questions. I mean, Republicans

1091
00:56:11,120 --> 00:56:13,960
Speaker 1: are calling for the NRSSE to be audited because of

1092
00:56:14,000 --> 00:56:18,520
Speaker 1: the wild spending and waste of resources from there. Mean,

1093
00:56:18,560 --> 00:56:22,080
Speaker 1: Mitch McConnell has really become the big money player and

1094
00:56:22,640 --> 00:56:25,040
Speaker 1: you know, apparently can't do it alone here. And I

1095
00:56:25,040 --> 00:56:28,920
Speaker 1: think Democrats also just have a stronger grassroots fundraising base

1096
00:56:29,040 --> 00:56:31,400
Speaker 1: that they can go back to. And I again, I

1097
00:56:31,480 --> 00:56:33,880
Speaker 1: really attribute that and blame Donald Trump for that in

1098
00:56:33,920 --> 00:56:37,880
Speaker 1: terms of the Republicans, because the grassroots base essentially gives

1099
00:56:37,880 --> 00:56:40,160
Speaker 1: to him over and over and over again, and he

1100
00:56:40,239 --> 00:56:44,600
Speaker 1: hits them up constantly rather than you know, doning nating

1101
00:56:44,640 --> 00:56:49,120
Speaker 1: for example, to Herschel Walker. Here we covered how Trump

1102
00:56:49,400 --> 00:56:52,640
Speaker 1: was technically raising money for Walker, but if you read

1103
00:56:52,680 --> 00:56:56,520
Speaker 1: the fine print, ninety percent of the money was actually

1104
00:56:56,520 --> 00:56:59,399
Speaker 1: going into his coffers. There are a bunch of other

1105
00:56:59,440 --> 00:57:04,319
Speaker 1: Republicans who employed the same exact tactic. So anyway, that's

1106
00:57:04,320 --> 00:57:06,640
Speaker 1: how things are looking. We do have some early vote

1107
00:57:06,719 --> 00:57:09,160
Speaker 1: numbers that we can bring you grain assault, grain of salt.

1108
00:57:09,160 --> 00:57:11,560
Speaker 1: Who knows what this means ultimately, but it's from our

1109
00:57:11,560 --> 00:57:14,320
Speaker 1: friend Daniel Shaney, and he says, at this early point,

1110
00:57:14,480 --> 00:57:16,640
Speaker 1: six percent of the people who have already voted in

1111
00:57:16,720 --> 00:57:20,560
Speaker 1: the Georgia runoff had not voted in November. So you

1112
00:57:20,560 --> 00:57:23,040
Speaker 1: have a sizeable chunk of people who are voting now

1113
00:57:23,080 --> 00:57:25,240
Speaker 1: who actually didn't show up at the polls in November.

1114
00:57:25,680 --> 00:57:28,160
Speaker 1: Who are those people, Well, sixty nine percent of them

1115
00:57:28,240 --> 00:57:30,440
Speaker 1: are under the age of twenty nine. A plurality is

1116
00:57:30,480 --> 00:57:32,480
Speaker 1: Black forty two percent, though he says that might be

1117
00:57:32,560 --> 00:57:36,080
Speaker 1: driven by which counties actually have early voting. So this

1118
00:57:36,120 --> 00:57:39,160
Speaker 1: would be a positive sign for Democrats again when you

1119
00:57:39,160 --> 00:57:42,160
Speaker 1: should take with a grain assault. He also yesterday put

1120
00:57:42,200 --> 00:57:46,120
Speaker 1: out an update on that and more people had voted. Still,

1121
00:57:46,160 --> 00:57:48,640
Speaker 1: you had about six percent of the total who were

1122
00:57:48,960 --> 00:57:51,360
Speaker 1: did not vote in November, who were just showing up

1123
00:57:51,360 --> 00:57:54,040
Speaker 1: for this runoff. And it continues to be the fact

1124
00:57:54,120 --> 00:57:57,040
Speaker 1: that these new voters who did not vote in the

1125
00:57:57,360 --> 00:58:00,920
Speaker 1: midterms are overwhelmingly young, and we gave you the numbers

1126
00:58:00,960 --> 00:58:04,720
Speaker 1: before from the poll of how how well Raphael Warnock

1127
00:58:04,840 --> 00:58:06,880
Speaker 1: is doing with younger voters, So it would be a

1128
00:58:06,880 --> 00:58:09,000
Speaker 1: positive indication for us. Yeah, I just I do think

1129
00:58:09,040 --> 00:58:11,280
Speaker 1: it is really crazy. Though we are a week or

1130
00:58:11,360 --> 00:58:13,680
Speaker 1: so out from this. It doesn't feel like it for

1131
00:58:13,800 --> 00:58:15,520
Speaker 1: a lot of the people in the national press, but

1132
00:58:15,560 --> 00:58:17,960
Speaker 1: I do want to underscore something that we covered right

1133
00:58:18,000 --> 00:58:20,120
Speaker 1: after the midterms. You know, there's a huge difference between

1134
00:58:20,160 --> 00:58:21,959
Speaker 1: a fifty one to forty nine Senate and a fifty

1135
00:58:21,960 --> 00:58:24,520
Speaker 1: to fifty committee power your ability. You know, you don't

1136
00:58:24,560 --> 00:58:27,280
Speaker 1: need the vice president for tie breaking votes. There's all

1137
00:58:27,360 --> 00:58:30,120
Speaker 1: kind of for a nomination perspective, it actually lowers the

1138
00:58:30,120 --> 00:58:32,400
Speaker 1: power of Joe Manchin. You could lose him on a

1139
00:58:32,440 --> 00:58:35,600
Speaker 1: single vote and still win big one. So fifty one

1140
00:58:35,600 --> 00:58:38,600
Speaker 1: to forty nine is a very very different environment for

1141
00:58:38,720 --> 00:58:43,360
Speaker 1: the entire Biden administration in its latter two years than

1142
00:58:43,520 --> 00:58:45,600
Speaker 1: a fifty to fifty Senate one that we've really been

1143
00:58:45,840 --> 00:58:47,840
Speaker 1: living with right now. It sounds like it's on a

1144
00:58:47,840 --> 00:58:51,840
Speaker 1: lower level, but it could explode out on especially judicial nominees. Right, Yeah,

1145
00:58:51,880 --> 00:58:54,880
Speaker 1: that pa the federal was I'm thinking of three major ones,

1146
00:58:54,920 --> 00:58:57,440
Speaker 1: all that were impacted by a fifty to fifty Senate

1147
00:58:57,480 --> 00:59:01,160
Speaker 1: where somebody was not confirmed, where they almost certainly would

1148
00:59:01,160 --> 00:59:02,760
Speaker 1: have been in a fifty one to forty nine environment,

1149
00:59:02,800 --> 00:59:05,440
Speaker 1: because just one defection, being able to lose Joe Mansion

1150
00:59:05,560 --> 00:59:08,280
Speaker 1: is really important because yeah, I mean, oftentimes he does

1151
00:59:08,280 --> 00:59:10,560
Speaker 1: not go along with the rest of the caucus. It

1152
00:59:10,560 --> 00:59:13,040
Speaker 1: expands what you're able to do and as I said before,

1153
00:59:13,120 --> 00:59:15,600
Speaker 1: could really make the difference in the next election cycle

1154
00:59:15,600 --> 00:59:18,880
Speaker 1: when Democrats have a very tough map to defend. We

1155
00:59:18,960 --> 00:59:23,160
Speaker 1: do have another piece of Trump related Republican news that

1156
00:59:23,200 --> 00:59:24,840
Speaker 1: we wanted to bring you. Lets go and put this

1157
00:59:24,960 --> 00:59:29,440
Speaker 1: up on the screen. My Pillow CEO Mike Lindell is

1158
00:59:29,480 --> 00:59:33,920
Speaker 1: apparently running to chair the RNC. He announced on Monday

1159
00:59:34,080 --> 00:59:37,320
Speaker 1: he is running to chair the rn C. He's running

1160
00:59:37,320 --> 00:59:40,400
Speaker 1: against Rona McDaniel. He says, I am one hundred percent

1161
00:59:40,520 --> 00:59:43,360
Speaker 1: running for chair against Rona McDaniel. He said that to

1162
00:59:43,440 --> 00:59:46,440
Speaker 1: Steve Bannon. He says, I'm all in. And one of

1163
00:59:46,480 --> 00:59:48,640
Speaker 1: the things that one of the big donors said to

1164
00:59:48,680 --> 00:59:51,520
Speaker 1: me is, Mike, everybody wants you to be head of

1165
00:59:51,520 --> 00:59:54,040
Speaker 1: the RNC. Some of them just don't know it yet.

1166
00:59:54,080 --> 00:59:56,400
Speaker 1: Of course, I'm sure you guys know who this man is.

1167
00:59:56,440 --> 00:59:59,280
Speaker 1: But he was, you know, one of the craziest individuals

1168
00:59:59,280 --> 01:00:02,080
Speaker 1: with regards to stop this deal all. He was one

1169
01:00:02,080 --> 01:00:04,240
Speaker 1: of the ones that was like sneaking into the Oval

1170
01:00:04,280 --> 01:00:07,760
Speaker 1: office to plant all kinds of insane ideas and conspiracies

1171
01:00:08,160 --> 01:00:10,880
Speaker 1: in the head of the president now former president. Of course,

1172
01:00:10,880 --> 01:00:14,680
Speaker 1: the former president is himself responsible for who he allows

1173
01:00:14,720 --> 01:00:17,720
Speaker 1: into that circle and what conspiracies he decides to believe.

1174
01:00:17,800 --> 01:00:21,360
Speaker 1: But anyway, Lindell, the running for RNC chair, Yeah, Lindell

1175
01:00:21,440 --> 01:00:24,800
Speaker 1: really is almost like a court jester, like an unbelievable figure. Yeah,

1176
01:00:25,040 --> 01:00:27,440
Speaker 1: willing to say. I mean and look, I've actually met

1177
01:00:27,440 --> 01:00:31,080
Speaker 1: Mike Lindell and he's a shockingly nice guy, which is honestly,

1178
01:00:31,120 --> 01:00:33,040
Speaker 1: it makes it sad because he has a deep and

1179
01:00:33,160 --> 01:00:37,480
Speaker 1: slavish devotion to Trump and it's clear like he basically

1180
01:00:37,480 --> 01:00:39,680
Speaker 1: lost his mind on the whole January sixth thing. He

1181
01:00:39,960 --> 01:00:42,280
Speaker 1: not beyond that, Like he was one of those who

1182
01:00:42,320 --> 01:00:46,680
Speaker 1: was presenting like military takeover plans with the overstock CEO

1183
01:00:47,160 --> 01:00:50,680
Speaker 1: to Trump, constantly calling him, you know, if you ask

1184
01:00:50,840 --> 01:00:54,840
Speaker 1: him about election fraud, Like he's the type to float

1185
01:00:55,040 --> 01:00:59,400
Speaker 1: the whole bamboo ballots in Arizona. There's no high IQ

1186
01:00:59,640 --> 01:01:03,000
Speaker 1: male in ballance going on with Mike Lindell. He's like, no,

1187
01:01:03,200 --> 01:01:06,720
Speaker 1: like the Venezuelan dominions hacked the servers, and you know

1188
01:01:07,440 --> 01:01:09,919
Speaker 1: he himself is like open to legal scrutiny now based

1189
01:01:10,000 --> 01:01:11,960
Speaker 1: upon a lot of things. He's up there with Sidney

1190
01:01:12,000 --> 01:01:14,760
Speaker 1: Powell in terms of like the most deranged fools to

1191
01:01:14,840 --> 01:01:17,560
Speaker 1: be made of during this entire process, and he's never

1192
01:01:17,600 --> 01:01:21,360
Speaker 1: back down from the very beginning. Trump absolutely loves him

1193
01:01:21,360 --> 01:01:23,840
Speaker 1: for it. I wonder what Trump is going to do

1194
01:01:23,920 --> 01:01:27,680
Speaker 1: in this situation because he can't snub Mike Lindell. Lindell

1195
01:01:27,720 --> 01:01:29,600
Speaker 1: has stood there and was one of his most loyal

1196
01:01:29,640 --> 01:01:32,840
Speaker 1: backers throughout this entire process and all that Trump really

1197
01:01:33,280 --> 01:01:36,240
Speaker 1: values in the first place. So now what? Because he

1198
01:01:36,280 --> 01:01:40,360
Speaker 1: also tacitly has supported Ronna McDaniel, who he forced to

1199
01:01:40,440 --> 01:01:43,520
Speaker 1: drop Na Romney McDaniel because he didn't like that she

1200
01:01:43,600 --> 01:01:46,760
Speaker 1: had Romney in her name. He literally asked her to

1201
01:01:46,760 --> 01:01:51,160
Speaker 1: start going by McDaniel. She also has been slavishly devoted

1202
01:01:51,320 --> 01:01:54,280
Speaker 1: to Trump and has basically done whatever he wanted from

1203
01:01:54,360 --> 01:01:56,160
Speaker 1: the beginning. So I don't know, it's going to be

1204
01:01:56,160 --> 01:01:59,320
Speaker 1: interesting to see how Trump pandels this in the first place. Yeah,

1205
01:01:59,360 --> 01:02:00,920
Speaker 1: I mean, if I had the guests, I'd say, he

1206
01:02:01,040 --> 01:02:05,280
Speaker 1: just stays out. I'll be silent, right it is. It's

1207
01:02:05,280 --> 01:02:07,720
Speaker 1: sort of telling that Roder McDaniel, who is you know,

1208
01:02:07,880 --> 01:02:11,040
Speaker 1: She's really made the R and C in Trump's image,

1209
01:02:11,120 --> 01:02:14,000
Speaker 1: like they're very closely intertwined in particular, you know, on

1210
01:02:14,080 --> 01:02:18,000
Speaker 1: a fundraising front, and has really carried water for Trump

1211
01:02:18,080 --> 01:02:20,520
Speaker 1: every step of the way, has been a defender of him,

1212
01:02:20,720 --> 01:02:23,080
Speaker 1: you know, very sort of I mean, she's she's been

1213
01:02:23,200 --> 01:02:26,160
Speaker 1: very loyal to him as well, but she hasn't gone

1214
01:02:26,160 --> 01:02:28,840
Speaker 1: to the full level of stop this deal crazy that

1215
01:02:28,880 --> 01:02:32,880
Speaker 1: Trump would, you know, loves in Mike Lindell. So even

1216
01:02:33,080 --> 01:02:36,360
Speaker 1: just by not going the full way, she's sort of

1217
01:02:36,440 --> 01:02:39,600
Speaker 1: like suspect in the eyes of some. Lindell says he

1218
01:02:40,080 --> 01:02:42,520
Speaker 1: at least as per yesterday, that he hadn't talked to

1219
01:02:42,560 --> 01:02:46,720
Speaker 1: Trump about it. So yeah, I guess as Trump would

1220
01:02:46,760 --> 01:02:48,800
Speaker 1: just is just going to stay quiet. But you never

1221
01:02:48,880 --> 01:02:50,760
Speaker 1: know what that dude, You never know what he's going

1222
01:02:50,800 --> 01:02:52,959
Speaker 1: to do. Absolutely right, all right, we have a bit

1223
01:02:53,080 --> 01:02:57,400
Speaker 1: of good news, overdue good news, which is that the

1224
01:02:57,440 --> 01:03:00,880
Speaker 1: New York Times, along with a number of other European

1225
01:03:01,240 --> 01:03:06,000
Speaker 1: news outlets, is calling on the Biden administration to drop

1226
01:03:06,400 --> 01:03:10,920
Speaker 1: their prosecution of Julian Assange, specifically with regards to the

1227
01:03:11,200 --> 01:03:15,160
Speaker 1: espionage charges against him, for the act of journalism of publishing.

1228
01:03:15,200 --> 01:03:17,600
Speaker 1: Let's go and put this up on the screen. This

1229
01:03:17,800 --> 01:03:19,760
Speaker 1: is New York Times tweet, they say. The New York

1230
01:03:19,800 --> 01:03:21,840
Speaker 1: Times and for European news outlets called on the US

1231
01:03:21,880 --> 01:03:24,440
Speaker 1: governments to drop its charges against Jewling No Massage for

1232
01:03:24,520 --> 01:03:28,000
Speaker 1: obtaining and publishing classified diplomatic and military secrets. They warned

1233
01:03:28,200 --> 01:03:33,680
Speaker 1: his indictment quote sets a dangerous precedent. The open letter,

1234
01:03:33,800 --> 01:03:36,960
Speaker 1: which was signed by the Times, The Guardian, Laman der

1235
01:03:37,000 --> 01:03:41,440
Speaker 1: Spiegel and Alpayes, said the prosecution prosecution of mister Assange

1236
01:03:41,480 --> 01:03:45,440
Speaker 1: under the Espionage Act threatens to undermine the First Amendment

1237
01:03:45,480 --> 01:03:48,280
Speaker 1: and the freedom of the press. Here's a direct quote.

1238
01:03:48,280 --> 01:03:51,760
Speaker 1: They say, obtaining and disclosing sensitive information when necessary in

1239
01:03:51,800 --> 01:03:54,440
Speaker 1: the public interest is a core part of the daily

1240
01:03:54,480 --> 01:03:56,640
Speaker 1: work of journalists, something we've been saying here for a

1241
01:03:56,720 --> 01:04:01,040
Speaker 1: long time. If that work is criminalized, our public discourse

1242
01:04:01,120 --> 01:04:05,880
Speaker 1: and our democracies are made significantly weaker. Now. Julian Assange,

1243
01:04:05,920 --> 01:04:08,720
Speaker 1: as you guys probably know, has been fighting extradition from

1244
01:04:08,880 --> 01:04:12,520
Speaker 1: the UK, looks very much now like he is going

1245
01:04:12,560 --> 01:04:15,919
Speaker 1: to be extradited to the US to face charges here

1246
01:04:15,960 --> 01:04:20,880
Speaker 1: that include both these Espionage Act charges and also the

1247
01:04:20,960 --> 01:04:25,520
Speaker 1: original charge. They kept it relatively narrow, alleging that he

1248
01:04:25,520 --> 01:04:30,240
Speaker 1: helped in the hacking of these documents, helped Chelsea Manning

1249
01:04:30,320 --> 01:04:33,760
Speaker 1: in the hacking of these documents, which also they you know,

1250
01:04:33,880 --> 01:04:36,479
Speaker 1: assnched denies. And also, you know, one thing that Glenn

1251
01:04:36,480 --> 01:04:40,360
Speaker 1: always points out, the level of assistance that was given

1252
01:04:40,400 --> 01:04:43,720
Speaker 1: here is common in terms of what journal and the

1253
01:04:43,800 --> 01:04:46,040
Speaker 1: jobs the journalists also perform. The New York Times does

1254
01:04:46,080 --> 01:04:48,160
Speaker 1: not go so far as to call on the Justice

1255
01:04:48,160 --> 01:04:51,400
Speaker 1: Department under the Biden administration to drop those charges as well.

1256
01:04:51,400 --> 01:04:55,360
Speaker 1: They're focused on the Espionage Act piece, and they close

1257
01:04:55,440 --> 01:04:58,000
Speaker 1: by saying there is no precedent in the United States

1258
01:04:58,000 --> 01:05:00,840
Speaker 1: for prosecuting a publisher of information as opposed to a

1259
01:05:00,880 --> 01:05:04,280
Speaker 1: spy or government official who leaked secrets under the Espionage Act.

1260
01:05:04,480 --> 01:05:07,880
Speaker 1: The Trump administration's decision to bring such charges against mister

1261
01:05:07,880 --> 01:05:11,840
Speaker 1: Ossage raised novel and profound questions about the meaning of

1262
01:05:11,880 --> 01:05:14,360
Speaker 1: the First Amendment. Right, the real question is is Biden

1263
01:05:14,440 --> 01:05:16,880
Speaker 1: going to continue or not? So far, him and Merrick

1264
01:05:16,960 --> 01:05:20,840
Speaker 1: Arland the DOJ have continued silent that extradition. And John Kirby,

1265
01:05:20,840 --> 01:05:23,800
Speaker 1: spokesman for the National Security councils asked by yesterday, let's

1266
01:05:23,800 --> 01:05:26,360
Speaker 1: take a listen. What is your assessment or what is

1267
01:05:26,360 --> 01:05:29,320
Speaker 1: the National Security Councils assessment of the farm that was

1268
01:05:29,360 --> 01:05:32,000
Speaker 1: done by the WIKI leak's leak in twenty twelve that

1269
01:05:32,040 --> 01:05:35,120
Speaker 1: would important any decisions by the Justice Farm. I think,

1270
01:05:35,200 --> 01:05:36,800
Speaker 1: you know, we if you go back and look at

1271
01:05:36,800 --> 01:05:40,120
Speaker 1: how the administration responded in twenty twelve, and of course

1272
01:05:41,000 --> 01:05:44,040
Speaker 1: President Biden was then vice president at the time, we

1273
01:05:44,080 --> 01:05:48,479
Speaker 1: would we would maintain that what we said at the time,

1274
01:05:48,640 --> 01:05:54,920
Speaker 1: what was said at the time that those that those leaks,

1275
01:05:54,960 --> 01:05:58,200
Speaker 1: those revelations in the public sphere were damaging to US

1276
01:05:58,280 --> 01:06:01,320
Speaker 1: national security. You can see they're still sticking to the line.

1277
01:06:01,840 --> 01:06:04,720
Speaker 1: No indication yet that they're going to listen. I and

1278
01:06:04,800 --> 01:06:06,760
Speaker 1: you know, you always have to square it with the

1279
01:06:06,760 --> 01:06:09,480
Speaker 1: Biden administration made a whole big show about being a

1280
01:06:09,600 --> 01:06:13,360
Speaker 1: pro firstement. They're like, we're going to stop doing subpoenas

1281
01:06:13,400 --> 01:06:15,360
Speaker 1: on the press, and like, we're going to stop some

1282
01:06:15,440 --> 01:06:18,320
Speaker 1: of the worst things that the Trump administration did in

1283
01:06:18,360 --> 01:06:21,439
Speaker 1: some of its persecution of the media on a legal

1284
01:06:21,520 --> 01:06:25,320
Speaker 1: level that actually started with the Obama administration. But guess what, Like,

1285
01:06:25,400 --> 01:06:29,400
Speaker 1: if you continue this, you are effectively criminalizing publishing information.

1286
01:06:29,520 --> 01:06:32,000
Speaker 1: We do this, you know, any of us are in

1287
01:06:32,000 --> 01:06:34,439
Speaker 1: a position where we could be prosecuted under the same law.

1288
01:06:34,680 --> 01:06:37,960
Speaker 1: People weird, sketchy people contact me all the time and

1289
01:06:37,960 --> 01:06:40,200
Speaker 1: they're like, hey, we have this information, we vet it.

1290
01:06:40,280 --> 01:06:43,520
Speaker 1: But you know what, if it's stolen, that's not my fault.

1291
01:06:44,200 --> 01:06:46,640
Speaker 1: They're the ones who stolen. Our job is to get

1292
01:06:46,680 --> 01:06:50,680
Speaker 1: information out there, as much information to the public as possible,

1293
01:06:50,800 --> 01:06:54,520
Speaker 1: regardless of the consequences. The consequences are other people's faults.

1294
01:06:54,560 --> 01:06:57,640
Speaker 1: It's not ours to grapple with. So what Kirby said

1295
01:06:57,640 --> 01:07:00,680
Speaker 1: there is also interesting because I mean he says, Okay,

1296
01:07:00,720 --> 01:07:03,880
Speaker 1: we assessed this was damaging to US national security, which

1297
01:07:03,880 --> 01:07:06,920
Speaker 1: I think is bullshit because if it had been, we

1298
01:07:06,960 --> 01:07:09,120
Speaker 1: would know about it. We would know the instance, we

1299
01:07:09,160 --> 01:07:11,600
Speaker 1: would know what happened. They would have screamed it from

1300
01:07:11,600 --> 01:07:14,240
Speaker 1: the rooftops. We would all be able to recite in

1301
01:07:14,760 --> 01:07:17,520
Speaker 1: chapter and verse exactly what the damage to US national

1302
01:07:17,520 --> 01:07:20,959
Speaker 1: security is. But also that's not really the question here,

1303
01:07:21,160 --> 01:07:24,800
Speaker 1: is it. So when he says, go back and look

1304
01:07:24,800 --> 01:07:27,160
Speaker 1: at what they said in twenty twelve, well, guess what

1305
01:07:27,280 --> 01:07:30,160
Speaker 1: the position of the Obama administration was in twenty twelve.

1306
01:07:30,560 --> 01:07:35,640
Speaker 1: It was, we cannot charge Julian Assange without criminalizing journalism.

1307
01:07:36,280 --> 01:07:41,439
Speaker 1: That was the Obama Biden position. Trump the Trump Justice

1308
01:07:41,480 --> 01:07:45,480
Speaker 1: Department ends up charging Assange, initially with this bullshit hacking charge.

1309
01:07:45,560 --> 01:07:48,080
Speaker 1: Then they expand it to the espionage which is the

1310
01:07:48,120 --> 01:07:51,120
Speaker 1: most dangerous part of this whole thing, Which is why

1311
01:07:51,120 --> 01:07:53,760
Speaker 1: the New York Times and these other European outlets belatedly

1312
01:07:53,880 --> 01:07:55,840
Speaker 1: are making this call. But I give them credit for

1313
01:07:55,880 --> 01:07:59,600
Speaker 1: doing it, because other news outlets have been claim democracy

1314
01:07:59,640 --> 01:08:01,600
Speaker 1: dies darkness, but you know, they have nothing to say

1315
01:08:01,600 --> 01:08:04,960
Speaker 1: about this. Okay, But the real, you know, the real

1316
01:08:05,080 --> 01:08:10,360
Speaker 1: question is is this espionage act? Is this a legitimate charge?

1317
01:08:10,400 --> 01:08:13,880
Speaker 1: And back in the Obama Biden administration they said, no,

1318
01:08:14,320 --> 01:08:18,040
Speaker 1: Trump administration charges him with this. So all we are asking,

1319
01:08:18,080 --> 01:08:20,080
Speaker 1: all the New York Times is asking, these four other

1320
01:08:20,120 --> 01:08:23,040
Speaker 1: European outlets, All they are asking is to go back

1321
01:08:23,120 --> 01:08:28,000
Speaker 1: to the Obama Biden position of twenty twelve. Do I

1322
01:08:28,080 --> 01:08:29,840
Speaker 1: have confidence they will do it? No? I do not.

1323
01:08:30,160 --> 01:08:33,679
Speaker 1: But it is heartening at least to see a news

1324
01:08:33,720 --> 01:08:38,360
Speaker 1: outlet standing up partially to their own rhetoric about press

1325
01:08:38,400 --> 01:08:42,160
Speaker 1: freedom and protecting their own right to publish and do

1326
01:08:42,280 --> 01:08:44,840
Speaker 1: acts of journalists. Well, these papers in particular, because they're

1327
01:08:44,840 --> 01:08:47,439
Speaker 1: all the ones who worked with wiki leaks back in

1328
01:08:47,479 --> 01:08:51,160
Speaker 1: twenty eleven, so on, many of the diplomatic cables leaks,

1329
01:08:51,240 --> 01:08:53,439
Speaker 1: et cetera. So look, we all know it killed The

1330
01:08:53,479 --> 01:08:55,479
Speaker 1: Times and many of these other to do this. They

1331
01:08:55,520 --> 01:08:58,080
Speaker 1: hate Julian and Massange because of the Hillary Clinton. I

1332
01:08:58,080 --> 01:08:59,920
Speaker 1: don't care how they find it, as it is always yeah,

1333
01:09:00,320 --> 01:09:02,920
Speaker 1: that doesn't matter. They take pains, which I think is

1334
01:09:02,920 --> 01:09:05,920
Speaker 1: important in the piece that they published too, to say

1335
01:09:06,000 --> 01:09:08,519
Speaker 1: this has nothing to do with Hillary Clinton in wiki leaks.

1336
01:09:08,600 --> 01:09:11,320
Speaker 1: This is about the disclosure of the Bush administration of

1337
01:09:11,400 --> 01:09:15,120
Speaker 1: war crimes. Effectively. All right, all right, one more piece

1338
01:09:15,160 --> 01:09:18,559
Speaker 1: for you here, guys, which broke yesterday. We have been covering,

1339
01:09:18,640 --> 01:09:23,160
Speaker 1: of course, the possibility of a mass rail strike. To

1340
01:09:23,240 --> 01:09:26,360
Speaker 1: walk you back through this, because this is a complicated process,

1341
01:09:26,960 --> 01:09:32,120
Speaker 1: it's governed by the by special Railway labor law, which

1342
01:09:32,120 --> 01:09:34,400
Speaker 1: is why this process is a little bit different. You

1343
01:09:34,479 --> 01:09:38,200
Speaker 1: had something like twelve unions that represent railroad workers. They

1344
01:09:38,200 --> 01:09:41,559
Speaker 1: were looking at striking because during the pandemic, even before

1345
01:09:41,600 --> 01:09:44,800
Speaker 1: the pandemic, they have just been getting completely screwed. These

1346
01:09:44,960 --> 01:09:47,879
Speaker 1: rail bosses cut a bunch of the workforce. They shifted

1347
01:09:47,920 --> 01:09:50,280
Speaker 1: all the workload onto these workers. They will getting no

1348
01:09:50,400 --> 01:09:52,360
Speaker 1: time off, they couldn't go to doctor's appointment, some of

1349
01:09:52,360 --> 01:09:54,680
Speaker 1: them were dying on the job. I mean, just horrific,

1350
01:09:54,800 --> 01:09:57,600
Speaker 1: horrific circumstance. So they draw line this at weeks, we

1351
01:09:57,720 --> 01:09:59,280
Speaker 1: have to do something about it. So the first thing

1352
01:09:59,320 --> 01:10:04,919
Speaker 1: that happens is Biden appoints a presidential board to review,

1353
01:10:05,200 --> 01:10:07,840
Speaker 1: you know, what the proposals are, and come up with

1354
01:10:07,960 --> 01:10:11,360
Speaker 1: a deal. That initial deal terrible, gave nothing to the

1355
01:10:11,400 --> 01:10:15,919
Speaker 1: workers in terms of the legitimate standard of living concerns

1356
01:10:15,960 --> 01:10:18,640
Speaker 1: that they have about, you know, just the inability to

1357
01:10:18,680 --> 01:10:22,439
Speaker 1: take any time off whatsoever, even when they're sick. Okay,

1358
01:10:22,720 --> 01:10:26,000
Speaker 1: so they say no to that. Then we're coming down

1359
01:10:26,000 --> 01:10:28,799
Speaker 1: to the wire with a possibility of either these workers

1360
01:10:28,800 --> 01:10:32,679
Speaker 1: going on strike or the rail companies locking them out.

1361
01:10:33,080 --> 01:10:36,120
Speaker 1: Either one would obviously be crippling to the economy. So

1362
01:10:36,840 --> 01:10:41,160
Speaker 1: Biden administration convenes the rail bosses and the union leaders

1363
01:10:41,200 --> 01:10:45,040
Speaker 1: and they come to a tentative agreement which is marginally

1364
01:10:45,320 --> 01:10:48,719
Speaker 1: better for workers, which includes like one day off instead

1365
01:10:48,720 --> 01:10:51,960
Speaker 1: of the no days off that they were getting previously. Okay,

1366
01:10:51,960 --> 01:10:53,880
Speaker 1: so the next step in the process is guess what

1367
01:10:54,400 --> 01:10:57,360
Speaker 1: the rank and file workers. They get a vote on

1368
01:10:57,439 --> 01:11:02,280
Speaker 1: this through their unions. Some of the smaller unions said, okay,

1369
01:11:02,520 --> 01:11:05,000
Speaker 1: we guess this is better than nothing. We take it.

1370
01:11:05,320 --> 01:11:10,639
Speaker 1: And the largest worker union, their members majority of them

1371
01:11:10,720 --> 01:11:15,280
Speaker 1: said no, this isn't sufficient. This is still ignoring the

1372
01:11:15,400 --> 01:11:18,799
Speaker 1: legitimate concerns and needs that we have. So this puts

1373
01:11:18,840 --> 01:11:22,759
Speaker 1: another ticking clock in place, which was set to expire

1374
01:11:22,840 --> 01:11:27,240
Speaker 1: in early December. So what is the Biden administration going

1375
01:11:27,280 --> 01:11:29,640
Speaker 1: to do. They have a couple of options. One is

1376
01:11:29,680 --> 01:11:32,200
Speaker 1: to let it play out. One is to let workers,

1377
01:11:32,280 --> 01:11:34,000
Speaker 1: using their leverage they were going to have, you know,

1378
01:11:34,080 --> 01:11:36,400
Speaker 1: all of the unions are standing in solidarity together, put

1379
01:11:36,439 --> 01:11:38,920
Speaker 1: leverage on the bosses try to strike a deal. Two

1380
01:11:39,720 --> 01:11:42,840
Speaker 1: is they have the option to go to Congress and

1381
01:11:43,080 --> 01:11:47,719
Speaker 1: force a deal on the workers and on the bosses. Well,

1382
01:11:47,880 --> 01:11:51,519
Speaker 1: we now know that President Biden and Nancy Pelosi is

1383
01:11:51,560 --> 01:11:55,240
Speaker 1: backing them up is calling for Congress to act and

1384
01:11:55,400 --> 01:11:58,840
Speaker 1: force down a deal on these workers. So then there's

1385
01:11:58,840 --> 01:12:01,160
Speaker 1: a question, Okay, well what deal, because you could call

1386
01:12:01,240 --> 01:12:04,240
Speaker 1: for anything. It doesn't have to be the tentative agreement

1387
01:12:04,280 --> 01:12:07,160
Speaker 1: that workers have already rejected. But they are going with

1388
01:12:07,280 --> 01:12:11,240
Speaker 1: the tentative agreement, completely silencing the voice of all of

1389
01:12:11,240 --> 01:12:13,840
Speaker 1: these workers who through democratic means, said this is not

1390
01:12:13,960 --> 01:12:19,120
Speaker 1: good enough, and siding completely here with the railroad bosses.

1391
01:12:19,439 --> 01:12:23,280
Speaker 1: And it is very disappointing and disturbing to see. Jonah

1392
01:12:23,320 --> 01:12:27,320
Speaker 1: Furman has been tracking all of this very closely. He

1393
01:12:27,479 --> 01:12:31,200
Speaker 1: has been compiling voices of the workers who are getting

1394
01:12:31,200 --> 01:12:36,360
Speaker 1: screwed here, and they are just absolutely apoplectic. Biden's statement

1395
01:12:36,400 --> 01:12:38,240
Speaker 1: he put out, I was like, oh, I'm so sorry

1396
01:12:38,280 --> 01:12:40,679
Speaker 1: you have to do this. I'm a pro labor president,

1397
01:12:40,720 --> 01:12:44,360
Speaker 1: blah blah blah. But ultimately, again you have another choice,

1398
01:12:44,400 --> 01:12:47,719
Speaker 1: which is even if you say, listen, shutting down the roads,

1399
01:12:47,840 --> 01:12:49,720
Speaker 1: this is a disaster for the account. We just can't

1400
01:12:49,760 --> 01:12:52,920
Speaker 1: let it happen. Okay, Well, then put a deal to

1401
01:12:53,040 --> 01:12:56,880
Speaker 1: Congress that includes the time off in the sick days

1402
01:12:56,920 --> 01:12:59,080
Speaker 1: that the workers are asking for. It really is not

1403
01:12:59,240 --> 01:13:01,840
Speaker 1: ultimately that hat, and as I said, Pelosi has already

1404
01:13:01,840 --> 01:13:03,600
Speaker 1: put out her own statement saying she's going along with

1405
01:13:03,640 --> 01:13:05,360
Speaker 1: all of it. Yes, I really do think it bears

1406
01:13:05,400 --> 01:13:07,639
Speaker 1: looking at the basic facts, which is look I mean,

1407
01:13:07,720 --> 01:13:09,760
Speaker 1: I think that these guys are very much negotiating in

1408
01:13:09,800 --> 01:13:12,880
Speaker 1: good faith, like all they wanted was to get sick

1409
01:13:12,960 --> 01:13:17,040
Speaker 1: time and leave right like that's it. And their deal

1410
01:13:17,120 --> 01:13:19,680
Speaker 1: that was negotiated at the table with Biden was not

1411
01:13:19,760 --> 01:13:22,280
Speaker 1: done in good faith by the rail companies. And based

1412
01:13:22,320 --> 01:13:25,080
Speaker 1: upon what I can see, Crystal, it's because the bosses

1413
01:13:25,200 --> 01:13:27,640
Speaker 1: they feel no need to negotiate because they have the

1414
01:13:27,720 --> 01:13:30,599
Speaker 1: Railway Labor Act on their side. They know that they

1415
01:13:30,640 --> 01:13:34,120
Speaker 1: have a supermajority in Congress which is willing to back them,

1416
01:13:34,360 --> 01:13:36,479
Speaker 1: and they forced to deal down these guys' throat. They

1417
01:13:36,479 --> 01:13:38,880
Speaker 1: know what Congress is going to back capital at the

1418
01:13:38,960 --> 01:13:41,400
Speaker 1: end of the day. And Marty Walsh, by the way,

1419
01:13:41,400 --> 01:13:44,080
Speaker 1: the Labor Secretary, had already cut the legs out from

1420
01:13:44,120 --> 01:13:47,040
Speaker 1: under the workers by hinting that this was the direction

1421
01:13:47,160 --> 01:13:48,920
Speaker 1: that they were going to go in, which of course

1422
01:13:49,000 --> 01:13:52,160
Speaker 1: killed all of their leverage from the jump. You know,

1423
01:13:52,200 --> 01:13:55,760
Speaker 1: I have the statement here from Biden. He says, I'm

1424
01:13:55,800 --> 01:13:58,800
Speaker 1: calling on Congress to pass legislation immediately to adopt the

1425
01:13:58,840 --> 01:14:02,520
Speaker 1: tentative agreement again, the one that the workers explicitly rejected

1426
01:14:02,760 --> 01:14:05,240
Speaker 1: between railroad workers and operators. Let me be clear, or

1427
01:14:05,280 --> 01:14:08,120
Speaker 1: rail shutdown would devastat our economy. Without freight rail, many

1428
01:14:08,200 --> 01:14:10,800
Speaker 1: US industries would shut down. True, but that doesn't mean

1429
01:14:10,880 --> 01:14:13,040
Speaker 1: you have to push the tentative agreement that was rejected.

1430
01:14:13,320 --> 01:14:15,960
Speaker 1: He goes on to say, as a proud pro labor president,

1431
01:14:16,040 --> 01:14:19,559
Speaker 1: I am reluctant to override the ratification procedures and views

1432
01:14:19,600 --> 01:14:22,200
Speaker 1: of those who voted against the agreement. But in this case,

1433
01:14:22,400 --> 01:14:24,960
Speaker 1: where the economic impact of a shutdown would hurt millions,

1434
01:14:25,000 --> 01:14:28,000
Speaker 1: I believe Congress must use its powers to adopt this deal.

1435
01:14:28,120 --> 01:14:31,080
Speaker 1: So I don't really care how you feel about it,

1436
01:14:31,160 --> 01:14:33,960
Speaker 1: Joe Biden. I care about what you are doing. And

1437
01:14:34,000 --> 01:14:36,000
Speaker 1: he tries to act like his hands are completely tied

1438
01:14:36,040 --> 01:14:38,320
Speaker 1: here and there was no other decision he could have

1439
01:14:38,400 --> 01:14:40,679
Speaker 1: possibly made, and it's a lie. And he has said

1440
01:14:40,720 --> 01:14:43,120
Speaker 1: he would be the most pro labor or president in history.

1441
01:14:43,120 --> 01:14:46,840
Speaker 1: I mean again, Jonah Furman. He's got one rail worker

1442
01:14:46,880 --> 01:14:50,400
Speaker 1: who said words cannot express how effing livid I am

1443
01:14:50,479 --> 01:14:53,320
Speaker 1: at this administration Biden, prides himself on how he cared

1444
01:14:53,360 --> 01:14:56,000
Speaker 1: for his family after tragedy. I could never do that

1445
01:14:56,360 --> 01:14:59,360
Speaker 1: because the people in power like him would rather screw

1446
01:14:59,360 --> 01:15:03,080
Speaker 1: workers than stand up to efing Robert Barns. Another says,

1447
01:15:03,240 --> 01:15:06,120
Speaker 1: many of my co workers were Democrats that went to

1448
01:15:06,160 --> 01:15:08,880
Speaker 1: Trump and have not looked back. This just gives them

1449
01:15:08,880 --> 01:15:12,800
Speaker 1: more AMMO. The Democrats don't care about us. Some other

1450
01:15:12,960 --> 01:15:16,400
Speaker 1: highlights from texts that Jonah was receiving. One said he's

1451
01:15:16,479 --> 01:15:21,360
Speaker 1: a dickhead, e fing loser, rip Democrats, and then his

1452
01:15:21,479 --> 01:15:24,839
Speaker 1: commentary the Dems wonder why they're losing the working class.

1453
01:15:25,120 --> 01:15:27,280
Speaker 1: So there you go. No, I mean, I'll just reiterate

1454
01:15:27,320 --> 01:15:29,719
Speaker 1: something I've read here before. Of the seven major railways

1455
01:15:29,720 --> 01:15:32,040
Speaker 1: base in the United States, combined net income of twenty

1456
01:15:32,040 --> 01:15:34,920
Speaker 1: seven billion is up from fifteen billion a decade earlier.

1457
01:15:35,160 --> 01:15:37,360
Speaker 1: Over the past decade, six of the seven railways that

1458
01:15:37,400 --> 01:15:40,040
Speaker 1: are publicly traded have paid out one hundred and forty

1459
01:15:40,080 --> 01:15:42,960
Speaker 1: six billion dollars in stock buybacks and dividends, which is

1460
01:15:43,000 --> 01:15:45,840
Speaker 1: over thirty billion dollars more cash than they invested in

1461
01:15:45,880 --> 01:15:49,200
Speaker 1: their business, including their workforce, of which has shrunk at

1462
01:15:49,200 --> 01:15:52,599
Speaker 1: the same time that they're rewarding their shareholders on Wall Street.

1463
01:15:52,880 --> 01:15:56,799
Speaker 1: I think this is fundamentally insane. I believe in private

1464
01:15:56,880 --> 01:16:02,160
Speaker 1: and partnership, private negotiations between workers and the bosses, and

1465
01:16:02,240 --> 01:16:04,880
Speaker 1: if they don't want to work, the US government should

1466
01:16:04,960 --> 01:16:08,599
Speaker 1: not force you to. That is as dystopian as it gets,

1467
01:16:08,720 --> 01:16:11,000
Speaker 1: especially when you have a core I mean, can you

1468
01:16:11,040 --> 01:16:13,759
Speaker 1: imagine being forced to go back to work by the government.

1469
01:16:14,040 --> 01:16:17,120
Speaker 1: And we really, we really need the Railway Labor Act

1470
01:16:17,160 --> 01:16:19,720
Speaker 1: to be overturned because I mean that at bottom is

1471
01:16:19,720 --> 01:16:22,599
Speaker 1: the problem here, is giving them this out. And then yeah,

1472
01:16:22,600 --> 01:16:25,479
Speaker 1: if you're the rail bosses, you know, whether it's a

1473
01:16:25,520 --> 01:16:28,960
Speaker 1: Democratic Congress or Republican Congress. The Republicans were ready to

1474
01:16:29,080 --> 01:16:32,679
Speaker 1: go with the original Presidential Board agreement, which was even worse.

1475
01:16:33,920 --> 01:16:37,559
Speaker 1: Whether it's a Democratic or Republican Congress, when push comes

1476
01:16:37,600 --> 01:16:40,160
Speaker 1: to shove, their going to side with capital, even if

1477
01:16:40,200 --> 01:16:42,000
Speaker 1: you are the president who claims to be the most

1478
01:16:42,040 --> 01:16:45,200
Speaker 1: pro labor in history. Bullshit, Yeah, total bullshit. It's not

1479
01:16:45,280 --> 01:16:50,320
Speaker 1: it's just not right. It really isn't all right, Sager,

1480
01:16:50,360 --> 01:16:52,800
Speaker 1: What are you looking at? Well, in retrospect, everyone can

1481
01:16:52,840 --> 01:16:55,360
Speaker 1: see something about to occur. It requires much more skill

1482
01:16:55,400 --> 01:16:58,080
Speaker 1: to see something before it happens. And as we've all

1483
01:16:58,160 --> 01:17:01,120
Speaker 1: learned myself included, a good track record in the past

1484
01:17:01,200 --> 01:17:03,280
Speaker 1: is actually really not that great of an indicator on

1485
01:17:03,320 --> 01:17:05,639
Speaker 1: how you will do so in the future. That said,

1486
01:17:05,840 --> 01:17:08,880
Speaker 1: listening and looking back at the canaries ahead of major

1487
01:17:08,920 --> 01:17:13,040
Speaker 1: events who ran against the conventional wisdom and vitally important

1488
01:17:13,040 --> 01:17:16,559
Speaker 1: to see how they arrived at their conclusions before everyone else.

1489
01:17:16,880 --> 01:17:19,679
Speaker 1: That's why we love stories like the Big short because

1490
01:17:19,720 --> 01:17:23,479
Speaker 1: nothing really is better than vindication in the latest FTX saga,

1491
01:17:23,520 --> 01:17:26,840
Speaker 1: I've been looking for that equivalent character. Surely someone should

1492
01:17:26,920 --> 01:17:29,519
Speaker 1: have seen how dirty this entire business was from the beginning,

1493
01:17:29,800 --> 01:17:33,120
Speaker 1: especially someone in the industry. But actually it was more

1494
01:17:33,240 --> 01:17:34,920
Speaker 1: rare than it should have been. And we're going to

1495
01:17:34,960 --> 01:17:37,200
Speaker 1: look at one particular figure who did call them out,

1496
01:17:37,360 --> 01:17:40,880
Speaker 1: and who looks exactly why nobody even listened to him.

1497
01:17:41,080 --> 01:17:42,840
Speaker 1: From what I've been able to tell, one of the

1498
01:17:42,840 --> 01:17:45,760
Speaker 1: only prominent people in finance to call out FTX was

1499
01:17:45,800 --> 01:17:48,640
Speaker 1: a short seller by the name of Mark Cohotes. Cahotes

1500
01:17:48,680 --> 01:17:51,160
Speaker 1: in particular, has been vindicated by an interview that he

1501
01:17:51,280 --> 01:17:55,160
Speaker 1: granted on October eleventh, nearly a month before the FTX collapse.

1502
01:17:55,360 --> 01:17:57,320
Speaker 1: Let's take a listen to what he said, no one

1503
01:17:57,320 --> 01:17:59,880
Speaker 1: can fucking explain FTX to me. No one can explain

1504
01:18:00,080 --> 01:18:03,000
Speaker 1: or SPF came from. No one can explain who mentored SPF.

1505
01:18:03,200 --> 01:18:05,799
Speaker 1: No one can explain. You know he met his partner

1506
01:18:06,000 --> 01:18:09,200
Speaker 1: at a summer math camp in Canada. Well, if you

1507
01:18:09,280 --> 01:18:11,559
Speaker 1: meet your partner when you're a teen or twelve, that's

1508
01:18:11,600 --> 01:18:15,800
Speaker 1: really that is like band camp. That's the story that

1509
01:18:15,840 --> 01:18:19,800
Speaker 1: betwaange in SPF at math camp in Canada. And I

1510
01:18:19,840 --> 01:18:21,960
Speaker 1: know you're from thunder Bed. They met at a math

1511
01:18:22,000 --> 01:18:24,960
Speaker 1: camp in Canada when they were younger. It's profane in

1512
01:18:24,960 --> 01:18:28,800
Speaker 1: the most vintage Wall Street sense. It's also obviously correct. Fundamentally,

1513
01:18:28,960 --> 01:18:31,719
Speaker 1: all he did is ask questions, who is this guy,

1514
01:18:32,000 --> 01:18:34,679
Speaker 1: who is the partner? I've never heard of him, where's

1515
01:18:34,720 --> 01:18:37,599
Speaker 1: the money coming from? How does this work? Exactly? The

1516
01:18:37,600 --> 01:18:40,519
Speaker 1: most sensational accusation is not just how Mark asked the question,

1517
01:18:40,760 --> 01:18:43,040
Speaker 1: it's about what he did with it information and who

1518
01:18:43,080 --> 01:18:46,120
Speaker 1: he brought it to. Let's continue. I employed a major

1519
01:18:46,160 --> 01:18:48,680
Speaker 1: news organization who was doing a story on him to

1520
01:18:48,760 --> 01:18:50,559
Speaker 1: do the work and to dig in, and they just

1521
01:18:50,560 --> 01:18:53,479
Speaker 1: wouldn't because I don't know how much money FTX spends

1522
01:18:53,479 --> 01:18:56,400
Speaker 1: in financial pr to get the mainstream media off off

1523
01:18:56,479 --> 01:19:00,280
Speaker 1: the path. Oh now, well that's interesting. Now, now this

1524
01:19:00,360 --> 01:19:03,080
Speaker 1: is very interesting. As Mark notes on October eleventh, he

1525
01:19:03,120 --> 01:19:06,320
Speaker 1: employed and brought major concerns about FTX to a big

1526
01:19:06,360 --> 01:19:10,040
Speaker 1: media organization to dig into SBF, but was rebuffed. He

1527
01:19:10,160 --> 01:19:12,920
Speaker 1: was further interviewed by coffee Zilla on YouTube and he

1528
01:19:13,000 --> 01:19:17,000
Speaker 1: elaborated further, noting that the news organization was actually the

1529
01:19:17,000 --> 01:19:21,520
Speaker 1: financial news organization Bloomberg, and that he was told explicitly

1530
01:19:21,560 --> 01:19:23,600
Speaker 1: they couldn't dig in. Let's take a listen to what

1531
01:19:23,640 --> 01:19:26,600
Speaker 1: he said in that interview. I went to Bloomberg with

1532
01:19:26,720 --> 01:19:28,519
Speaker 1: my pals whole I was working on this thing with,

1533
01:19:29,000 --> 01:19:32,679
Speaker 1: and we laid it out to five crypto, five ladies

1534
01:19:32,720 --> 01:19:35,280
Speaker 1: on the crypto team, and they passed, and they said

1535
01:19:35,320 --> 01:19:37,920
Speaker 1: it would be too much work, We'd lose access, it's

1536
01:19:37,920 --> 01:19:40,640
Speaker 1: bad for business, right, they'd hang up on us if

1537
01:19:40,680 --> 01:19:42,640
Speaker 1: we asked these questions. Well, at least I had the

1538
01:19:42,720 --> 01:19:45,720
Speaker 1: questions with Bloomberg denied a story with you because they

1539
01:19:45,720 --> 01:19:47,160
Speaker 1: thought it would lose them access and it was too

1540
01:19:47,240 --> 01:19:51,280
Speaker 1: much work. Yes, one hundred percent. When when did this happen?

1541
01:19:51,520 --> 01:19:54,439
Speaker 1: This happened in July. This happened in early July. They

1542
01:19:54,439 --> 01:19:57,720
Speaker 1: had everything. His space speaks speaks for us all, and

1543
01:19:57,760 --> 01:19:59,800
Speaker 1: it brings me back to the true cover up. It

1544
01:19:59,840 --> 01:20:02,160
Speaker 1: was obvious to a lot of players in the crypto

1545
01:20:02,200 --> 01:20:05,439
Speaker 1: world that this was all bs, but because SBF had

1546
01:20:05,439 --> 01:20:08,040
Speaker 1: conned his way to such fantastic wealth, it was. The

1547
01:20:08,040 --> 01:20:11,080
Speaker 1: combination of brand relationships be built with the mainstream media

1548
01:20:11,240 --> 01:20:14,920
Speaker 1: and political donations coming from him were unfathomable to a

1549
01:20:14,960 --> 01:20:18,400
Speaker 1: major financial news organization whose job it literally is to

1550
01:20:18,479 --> 01:20:22,160
Speaker 1: investigate him. Consider what Bloomberg News journalists told Mark that

1551
01:20:22,240 --> 01:20:24,200
Speaker 1: it was too much work, that they would hang up

1552
01:20:24,240 --> 01:20:27,560
Speaker 1: on them, that it was bad for business. Imagine seriously

1553
01:20:27,640 --> 01:20:30,760
Speaker 1: saying it's bad for business when your entire news organization

1554
01:20:30,880 --> 01:20:34,280
Speaker 1: is literally funded by a multi billionaire who sells Bloomberg

1555
01:20:34,400 --> 01:20:36,720
Speaker 1: terminals to trade on. So was it bad for the

1556
01:20:36,800 --> 01:20:39,839
Speaker 1: news business or was it bad for the Wall Street business?

1557
01:20:40,040 --> 01:20:44,160
Speaker 1: The other explanations are equally laughable. It's too much work. Seriously,

1558
01:20:44,439 --> 01:20:46,800
Speaker 1: what do you people get paid for? Oh, they might

1559
01:20:46,840 --> 01:20:49,000
Speaker 1: hang up on you. I got news for you. One

1560
01:20:49,000 --> 01:20:50,640
Speaker 1: of the most important skills that you need as a

1561
01:20:50,680 --> 01:20:52,960
Speaker 1: journalist is to do coverage where someone is going to

1562
01:20:53,000 --> 01:20:56,080
Speaker 1: scream at you on the phone. It has happened. Many times,

1563
01:20:56,160 --> 01:20:59,559
Speaker 1: it's unpleasant, I can tell you firsthand. But sometimes it's comical,

1564
01:20:59,680 --> 01:21:03,719
Speaker 1: and some times the reaction is confirmation you're onto something.

1565
01:21:04,040 --> 01:21:06,759
Speaker 1: More important is Mark's allegation that he brought this story

1566
01:21:06,800 --> 01:21:09,880
Speaker 1: to Bloomberg in July. Bloomberg has not denied this, and

1567
01:21:09,920 --> 01:21:12,160
Speaker 1: it really ties back to a previous monolog I did

1568
01:21:12,360 --> 01:21:15,320
Speaker 1: with how much SBF gave the media everything it wanted.

1569
01:21:15,960 --> 01:21:18,240
Speaker 1: Not only did he donate to their preferred party heavily,

1570
01:21:18,479 --> 01:21:21,360
Speaker 1: he literally employed many of them. The totality of his

1571
01:21:21,400 --> 01:21:24,880
Speaker 1: funding of media is astonishing, including five million dollars to

1572
01:21:24,960 --> 01:21:28,320
Speaker 1: pro publica, four million to the Intercept, millions to Vox Media,

1573
01:21:28,360 --> 01:21:32,000
Speaker 1: the new startup Semaphore, and the Law and Justice Journalism Project.

1574
01:21:32,160 --> 01:21:34,719
Speaker 1: This was a good story. He's a young multi billionaire.

1575
01:21:34,720 --> 01:21:36,519
Speaker 1: He wants to give all of his money away. It's

1576
01:21:36,560 --> 01:21:39,360
Speaker 1: the same magazine covergy Grace that featured Elizabeth Holmes in

1577
01:21:39,400 --> 01:21:42,640
Speaker 1: the same breathless excitement SPF. As I said previously, he

1578
01:21:42,640 --> 01:21:44,800
Speaker 1: was actually much smarter than Elizabeth Holmes. He not only

1579
01:21:44,800 --> 01:21:47,000
Speaker 1: gave him a good story, he actually cultivated and paid

1580
01:21:47,040 --> 01:21:49,240
Speaker 1: them in a much more direct way, all while the

1581
01:21:49,320 --> 01:21:52,519
Speaker 1: questions were obviously out there, Who are you? How are

1582
01:21:52,520 --> 01:21:56,000
Speaker 1: you making this money? The failure of journalism here is titanic,

1583
01:21:56,160 --> 01:21:58,439
Speaker 1: and at least with Tharrahos it was John Kerry you

1584
01:21:58,560 --> 01:22:01,799
Speaker 1: at the Wall Street Journal who took down homes with Enron.

1585
01:22:01,800 --> 01:22:04,280
Speaker 1: There were fantastic journalists who were tipped off by short

1586
01:22:04,320 --> 01:22:07,240
Speaker 1: sellers who were raising tough questions for the corporation in

1587
01:22:07,320 --> 01:22:09,920
Speaker 1: the months ahead of the collapse, enough so that they

1588
01:22:09,960 --> 01:22:12,360
Speaker 1: could write and direct a great book and documentary about

1589
01:22:12,400 --> 01:22:14,920
Speaker 1: it pretty soon after it happened. Here we have a

1590
01:22:14,920 --> 01:22:18,600
Speaker 1: failure of skepticism at the highest level of even basic investigation,

1591
01:22:18,680 --> 01:22:21,960
Speaker 1: despite clear and obvious tips. It's a powerful lesson that

1592
01:22:22,040 --> 01:22:24,160
Speaker 1: if you have enough money, you can be a literal

1593
01:22:24,200 --> 01:22:26,880
Speaker 1: con man and get away with it. Even today, SPF

1594
01:22:27,000 --> 01:22:29,439
Speaker 1: is still scheduled to speak live at a major conference

1595
01:22:29,479 --> 01:22:32,360
Speaker 1: from The New York Times, which was booked months earlier. Now, look,

1596
01:22:32,400 --> 01:22:34,960
Speaker 1: I support journalists interviewing him after the fact and putting

1597
01:22:35,040 --> 01:22:37,800
Speaker 1: him on the record. What I don't support is the

1598
01:22:37,840 --> 01:22:41,680
Speaker 1: obvious notion he was booked before he was exposed to

1599
01:22:41,760 --> 01:22:45,520
Speaker 1: be some sort of so called crypto fraud. In reality,

1600
01:22:45,840 --> 01:22:48,519
Speaker 1: what we should what people should have taken notice of,

1601
01:22:48,840 --> 01:22:50,839
Speaker 1: is that he was a fraud from the very beginning.

1602
01:22:51,120 --> 01:22:53,519
Speaker 1: And that's really my takeaway from this entire thing, bristle,

1603
01:22:53,520 --> 01:22:55,639
Speaker 1: which is, and if you want to hear my reaction

1604
01:22:55,720 --> 01:22:59,400
Speaker 1: to Sagres's monologue, become a premium subscriber today at breakingpoints

1605
01:22:59,439 --> 01:23:02,960
Speaker 1: dot com. What do you look taking a look at

1606
01:23:03,000 --> 01:23:07,760
Speaker 1: Crystal Well, guys? Is America suffering an epidemic of loneliness?

1607
01:23:08,000 --> 01:23:10,600
Speaker 1: That's the question raised by some new data showing that increasingly,

1608
01:23:10,680 --> 01:23:13,400
Speaker 1: in ways that were accelerated by the pandemic, Americans are

1609
01:23:13,479 --> 01:23:16,440
Speaker 1: choosing to spend more and more of their time alone.

1610
01:23:16,640 --> 01:23:18,919
Speaker 1: So here is that data is laid out by economist

1611
01:23:18,960 --> 01:23:21,879
Speaker 1: Bryce Ward and a New Washington Post op ed. Basically,

1612
01:23:21,880 --> 01:23:24,320
Speaker 1: if you're looking at this chart, up until twenty fourteen,

1613
01:23:24,320 --> 01:23:27,160
Speaker 1: the amount of time Americans fifteen and older spent with

1614
01:23:27,240 --> 01:23:30,760
Speaker 1: friends was more or less stable. Then a dramatic shift

1615
01:23:30,800 --> 01:23:33,040
Speaker 1: happens that you can see here the amount of time

1616
01:23:33,040 --> 01:23:35,880
Speaker 1: with friends and companions plummets, or the amount of time

1617
01:23:36,000 --> 01:23:40,080
Speaker 1: spent completely alone skyrockets. Now it's important to emphasize this

1618
01:23:40,160 --> 01:23:43,680
Speaker 1: trend clearly predates the pandemic. In fact, the amount of

1619
01:23:43,720 --> 01:23:46,639
Speaker 1: time with friends fell further in the five years building

1620
01:23:46,760 --> 01:23:50,519
Speaker 1: up to the pandemic than it actually did during the pandemic. Now,

1621
01:23:50,520 --> 01:23:53,559
Speaker 1: this trend is also pretty consistent across all demographic groups,

1622
01:23:53,600 --> 01:23:56,320
Speaker 1: among the old, the young, the rich, the poor, the

1623
01:23:56,360 --> 01:24:00,439
Speaker 1: remote worker, and the in person worker. Increasingly, America are

1624
01:24:00,520 --> 01:24:03,479
Speaker 1: choosing to spend more and more time alone, And as

1625
01:24:03,479 --> 01:24:05,960
Speaker 1: with so many things, the pandemic just poured gasoline on

1626
01:24:05,960 --> 01:24:08,760
Speaker 1: a trend that was already well underway. A raft of

1627
01:24:08,800 --> 01:24:11,519
Speaker 1: recent reporting provides textured to what all of this alone

1628
01:24:11,520 --> 01:24:14,679
Speaker 1: time looks like for different age cohorts and demographic groups.

1629
01:24:14,880 --> 01:24:17,479
Speaker 1: As reporters and researchers have tried to understand a new

1630
01:24:17,520 --> 01:24:20,800
Speaker 1: epidemic of teen mental health crises, they've taken a close

1631
01:24:20,800 --> 01:24:24,040
Speaker 1: look at how teenagers have shifted from in person socializing

1632
01:24:24,120 --> 01:24:27,559
Speaker 1: to online socializing. And take a look at these two charts.

1633
01:24:27,600 --> 01:24:29,680
Speaker 1: This is from the Conversation The one on top you

1634
01:24:29,680 --> 01:24:32,559
Speaker 1: see there. It shows what percent of teens say they

1635
01:24:32,600 --> 01:24:35,439
Speaker 1: meet up with their friends almost every day. This chart

1636
01:24:35,439 --> 01:24:39,080
Speaker 1: starts in nineteen seventy and goes through twenty seventeen. Now,

1637
01:24:39,120 --> 01:24:41,519
Speaker 1: at first on the left side, the number slowly decline

1638
01:24:41,520 --> 01:24:44,719
Speaker 1: across the graph before falling off a cliff somewhere around

1639
01:24:44,800 --> 01:24:48,000
Speaker 1: twenty ten. The chart on the bottom shows why it matters,

1640
01:24:48,040 --> 01:24:49,840
Speaker 1: because at the same time that teens are seeing their

1641
01:24:49,880 --> 01:24:53,759
Speaker 1: friends less, they are also increasingly describing themselves as lonely.

1642
01:24:54,120 --> 01:24:57,320
Speaker 1: In twenty seventeen, almost forty percent of high school seniors

1643
01:24:57,360 --> 01:25:00,240
Speaker 1: agreed with the statement quote A lot of times I

1644
01:25:00,280 --> 01:25:04,080
Speaker 1: feel lonely. So while teens are undoubtedly socializing in a

1645
01:25:04,080 --> 01:25:07,040
Speaker 1: different way than previous generations, it's also clear that the

1646
01:25:07,160 --> 01:25:10,599
Speaker 1: online social interactions are not filling the need that real

1647
01:25:10,640 --> 01:25:13,599
Speaker 1: life social interactions once did. Let me show you one

1648
01:25:13,600 --> 01:25:15,840
Speaker 1: more graph that is really disturbing. This is a chart

1649
01:25:15,840 --> 01:25:18,960
Speaker 1: showing a dramatic spike in emergency room visits for self

1650
01:25:19,000 --> 01:25:22,719
Speaker 1: harm among kids and among adolescents. Now, this trend starts

1651
01:25:22,720 --> 01:25:25,479
Speaker 1: in two thousand and nine and continues unbroken since then.

1652
01:25:25,760 --> 01:25:28,400
Speaker 1: I don't want to oversimplify. Loneliness is just one of

1653
01:25:28,400 --> 01:25:30,519
Speaker 1: a number of factors that might be contributing to a

1654
01:25:30,560 --> 01:25:34,080
Speaker 1: breakdown in teen mental health. But we know human beings

1655
01:25:34,080 --> 01:25:36,880
Speaker 1: are social creatures. We don't do well when we are

1656
01:25:36,880 --> 01:25:40,120
Speaker 1: completely isolated. We've also talked some here about a crisis

1657
01:25:40,160 --> 01:25:43,000
Speaker 1: facing men and boys. Part of that crisis appears to

1658
01:25:43,120 --> 01:25:45,920
Speaker 1: be a loneliness crisis. New York Times just wrote up

1659
01:25:45,920 --> 01:25:47,640
Speaker 1: some of the data here showing that men are in

1660
01:25:47,720 --> 01:25:51,160
Speaker 1: what they describe as a friend session. Since nineteen ninety,

1661
01:25:51,200 --> 01:25:53,080
Speaker 1: the number of men who say they have no friends

1662
01:25:53,120 --> 01:25:57,160
Speaker 1: at all have seen a fivefold increase, up to fifteen percent. Meanwhile,

1663
01:25:57,479 --> 01:26:00,200
Speaker 1: fewer than half of men say they are actually satisfied

1664
01:26:00,240 --> 01:26:02,800
Speaker 1: with the number of friendships that they do have. Could

1665
01:26:02,840 --> 01:26:05,080
Speaker 1: this be part of the reason for men dropping out

1666
01:26:05,080 --> 01:26:07,960
Speaker 1: of the workforce, suffering from addiction, dying deaths of despair,

1667
01:26:08,560 --> 01:26:12,080
Speaker 1: Our elders also increasingly writing out their golden years solo.

1668
01:26:12,439 --> 01:26:14,760
Speaker 1: More than a third of households headed by someone over

1669
01:26:14,760 --> 01:26:17,599
Speaker 1: the age of fifty has a single occupant. That means

1670
01:26:17,640 --> 01:26:20,960
Speaker 1: almost twenty six million Americans fifty or older are living alone.

1671
01:26:21,160 --> 01:26:24,400
Speaker 1: That compares to fifteen million back in two thousand, a

1672
01:26:24,439 --> 01:26:27,839
Speaker 1: dramatic increase. There now the reasons for this again, it's complex,

1673
01:26:28,040 --> 01:26:31,240
Speaker 1: changing norms around marriage, child bearing. All of that contributes,

1674
01:26:31,479 --> 01:26:33,840
Speaker 1: but it also matches up with the overall trend of

1675
01:26:33,880 --> 01:26:36,599
Speaker 1: Americans of all walks of life spending more and more

1676
01:26:36,640 --> 01:26:40,599
Speaker 1: time alone and reporting being lonelier and lonelier. Now listen,

1677
01:26:40,640 --> 01:26:43,000
Speaker 1: some people they might be wired for solitude might be

1678
01:26:43,040 --> 01:26:46,240
Speaker 1: perfectly happy living alone being alone, but as we have

1679
01:26:46,280 --> 01:26:49,040
Speaker 1: spent more and more time alone, more of us are

1680
01:26:49,120 --> 01:26:52,120
Speaker 1: reporting those feelings of loneliness. And there is all kinds

1681
01:26:52,120 --> 01:26:55,080
Speaker 1: of research about how loneliness is bad for your health,

1682
01:26:55,360 --> 01:26:57,920
Speaker 1: causes you to age, can lead to mental health issues,

1683
01:26:58,040 --> 01:27:01,040
Speaker 1: can feel societal ills. Holiness is one of the core

1684
01:27:01,080 --> 01:27:04,120
Speaker 1: factors in the societal rot that we cover here regularly,

1685
01:27:04,160 --> 01:27:07,360
Speaker 1: from things like addiction, to despair, to violence and too radicalization.

1686
01:27:07,880 --> 01:27:10,560
Speaker 1: So what is to blame for our drift towards loneliness?

1687
01:27:10,800 --> 01:27:14,000
Speaker 1: And the smartphone surely one part of it. In Wards

1688
01:27:14,000 --> 01:27:16,639
Speaker 1: of washingom post outbed that we started with, he points

1689
01:27:16,680 --> 01:27:19,960
Speaker 1: out that twenty fourteen was actually the year smartphone penetration

1690
01:27:20,080 --> 01:27:23,920
Speaker 1: crossed fifty percent. Was also the year that we started

1691
01:27:24,000 --> 01:27:27,320
Speaker 1: detaching from our friends more and more and more. Now,

1692
01:27:27,400 --> 01:27:30,559
Speaker 1: there is nothing about this particular technology that should cause

1693
01:27:30,600 --> 01:27:32,960
Speaker 1: us to abandon other important parts of our lives in

1694
01:27:33,040 --> 01:27:35,679
Speaker 1: order to worship it. But as per usual, just follow

1695
01:27:35,720 --> 01:27:38,759
Speaker 1: the money. There are fortunes to be made in keeping

1696
01:27:38,840 --> 01:27:41,800
Speaker 1: us glued to the screen, after all, spending time with

1697
01:27:41,840 --> 01:27:44,920
Speaker 1: our friends or the proverbial touching grass. It's not really

1698
01:27:44,960 --> 01:27:49,080
Speaker 1: profitable for anyone endlessly scrolling is it's profitable for the

1699
01:27:49,080 --> 01:27:52,200
Speaker 1: companies selling as crap through targeted ads, and it's profitable

1700
01:27:52,240 --> 01:27:55,120
Speaker 1: for the companies selling the targeted ads to those companies

1701
01:27:55,160 --> 01:27:58,400
Speaker 1: selling the grap, and the companies analyzing where we are,

1702
01:27:58,479 --> 01:28:00,599
Speaker 1: what we search for, what we click on, and every

1703
01:28:00,640 --> 01:28:03,160
Speaker 1: other little bit of data that they can possibly scoop

1704
01:28:03,240 --> 01:28:05,800
Speaker 1: up to monetize. The end result is we are both

1705
01:28:05,800 --> 01:28:09,080
Speaker 1: the consumer to market to and the product to be sold,

1706
01:28:09,200 --> 01:28:11,160
Speaker 1: and the longer they can keep our attention, the more

1707
01:28:11,160 --> 01:28:14,719
Speaker 1: profitable we ultimately are. On a deeper level, Two, we're

1708
01:28:14,720 --> 01:28:17,720
Speaker 1: better consumers when we are lonely and sad. Tempting to

1709
01:28:17,760 --> 01:28:20,920
Speaker 1: fill our emotional needs with consumer goods is the American way,

1710
01:28:20,960 --> 01:28:23,960
Speaker 1: after all. So what is the answer here? It requires

1711
01:28:24,000 --> 01:28:26,840
Speaker 1: nothing less than a government regulated shift in the entire

1712
01:28:26,920 --> 01:28:30,120
Speaker 1: tech ecosystem to keep our attention from being plundered and

1713
01:28:30,160 --> 01:28:32,800
Speaker 1: sold off to the highest bidder, a national shift to

1714
01:28:32,880 --> 01:28:37,680
Speaker 1: reprioritize civic life, community and fulfillment over profits. While we

1715
01:28:37,720 --> 01:28:40,040
Speaker 1: wait this revolution, well, maybe just try to spend a

1716
01:28:40,040 --> 01:28:42,520
Speaker 1: little extra time with your family and friends over the holidays.

1717
01:28:42,800 --> 01:28:44,760
Speaker 1: They might need it, and you might need it too.

1718
01:28:45,479 --> 01:28:47,280
Speaker 1: It's interesting I saw it happen to note all of

1719
01:28:47,320 --> 01:28:49,280
Speaker 1: these different pieces and if you want to hear my

1720
01:28:49,439 --> 01:28:52,760
Speaker 1: reaction to Crystal's monologue, become a premium subscriber today at

1721
01:28:52,840 --> 01:28:58,840
Speaker 1: Breakingpoints dot com. All right, we guys, we addressed the

1722
01:28:59,160 --> 01:29:02,120
Speaker 1: long standing issue that I know many of you wanted FIFA.

1723
01:29:02,400 --> 01:29:05,200
Speaker 1: We recorded a segment there yesterday just to explain everything

1724
01:29:05,240 --> 01:29:07,680
Speaker 1: that happened about why our full show was blocked, how

1725
01:29:07,680 --> 01:29:09,400
Speaker 1: they declared war on us and got some of our

1726
01:29:09,400 --> 01:29:13,000
Speaker 1: stuff pull down, which we address. So let's get into it. Well,

1727
01:29:13,000 --> 01:29:15,240
Speaker 1: we had a little bit of holiday unpleasantness and it

1728
01:29:15,280 --> 01:29:17,839
Speaker 1: was all because of FIFA, Crystal. So while we were traveling,

1729
01:29:17,920 --> 01:29:21,040
Speaker 1: it turns out that our show or last show that

1730
01:29:21,120 --> 01:29:25,920
Speaker 1: we had on Tuesday was fully blocked by FIFA. And

1731
01:29:26,320 --> 01:29:29,160
Speaker 1: it was actually crazy because that show, as you guys

1732
01:29:29,240 --> 01:29:34,040
Speaker 1: might remember, included some video, not even audio, just some

1733
01:29:34,760 --> 01:29:39,519
Speaker 1: video of the Iranian soccer team refusing to play or

1734
01:29:39,560 --> 01:29:42,960
Speaker 1: refusing to sing it's national anthem. It was less than

1735
01:29:43,000 --> 01:29:46,760
Speaker 1: ten seconds. It was clearly within the guidelines of fair use.

1736
01:29:46,840 --> 01:29:49,040
Speaker 1: For people who don't know what that is, it basically

1737
01:29:49,080 --> 01:29:53,400
Speaker 1: means that news organizations are allowed to use copyrighted material

1738
01:29:53,680 --> 01:29:56,360
Speaker 1: as long as we're not just like, watch this stuff

1739
01:29:56,479 --> 01:29:58,760
Speaker 1: its context of the clip, as long as it has

1740
01:29:59,160 --> 01:30:03,840
Speaker 1: news value, which of course it did. An overtly political

1741
01:30:04,120 --> 01:30:08,280
Speaker 1: moment we played. It's called voiceover, so you can see

1742
01:30:08,280 --> 01:30:11,040
Speaker 1: it visually, but you don't actually hear it, and we're

1743
01:30:11,160 --> 01:30:13,960
Speaker 1: talking over it, so it's not even the full audio

1744
01:30:14,040 --> 01:30:17,879
Speaker 1: and video. It was a tiny clip and they blocked

1745
01:30:17,960 --> 01:30:23,080
Speaker 1: our entire full premium show because of this ten seconds

1746
01:30:23,120 --> 01:30:28,040
Speaker 1: of overtly politically, clearly justifiable fairy use content that honestly

1747
01:30:28,080 --> 01:30:30,040
Speaker 1: we didn't even think twice about putting in a show

1748
01:30:30,080 --> 01:30:33,559
Speaker 1: because it's such a clear instance of fairies doctrine. Right

1749
01:30:33,640 --> 01:30:36,240
Speaker 1: of course, right, And look, we have contested it. We'll

1750
01:30:36,280 --> 01:30:38,000
Speaker 1: see it takes weeks in order to win. We had

1751
01:30:38,040 --> 01:30:41,160
Speaker 1: to previously win a fight with the UFC over that,

1752
01:30:41,200 --> 01:30:43,600
Speaker 1: so we have a well established track record. But I

1753
01:30:43,600 --> 01:30:45,760
Speaker 1: think what's really crazy about this is they actually said

1754
01:30:45,880 --> 01:30:47,720
Speaker 1: this was a notice from YouTube. Let's put this up

1755
01:30:47,720 --> 01:30:50,120
Speaker 1: there on the screen. It says high breaking points after

1756
01:30:50,200 --> 01:30:54,599
Speaker 1: a manual review, copyright owner has claimed material in your video.

1757
01:30:54,640 --> 01:30:57,240
Speaker 1: As a result, your video is blocked can no longer

1758
01:30:57,280 --> 01:31:00,280
Speaker 1: be played on YouTube. This claim does not affect your

1759
01:31:00,280 --> 01:31:02,840
Speaker 1: account status. Wow, Well, thank you for that, and for

1760
01:31:02,880 --> 01:31:06,559
Speaker 1: the context. We send our premium shows an unlisted YouTube

1761
01:31:06,600 --> 01:31:09,000
Speaker 1: link where they can watch it. So they claim this

1762
01:31:09,120 --> 01:31:11,000
Speaker 1: is based on a manual review. If it was just

1763
01:31:11,080 --> 01:31:13,559
Speaker 1: the public clip, I think I would understand that. And also,

1764
01:31:13,760 --> 01:31:15,800
Speaker 1: it's not like we're making any money off of that

1765
01:31:15,880 --> 01:31:19,559
Speaker 1: premium video. We don't serve ads on that video intentionally

1766
01:31:19,600 --> 01:31:22,320
Speaker 1: because we send it out to our premium subscribers. So

1767
01:31:22,680 --> 01:31:25,920
Speaker 1: it was just outright block Now, look, is this because

1768
01:31:25,960 --> 01:31:28,439
Speaker 1: of criticism from Qatar and all that. I'm not going

1769
01:31:28,520 --> 01:31:31,479
Speaker 1: to get that conspiratorial, although I do think it is possible,

1770
01:31:32,000 --> 01:31:34,160
Speaker 1: But I do think it just shows like a deep

1771
01:31:34,479 --> 01:31:37,880
Speaker 1: neurosis on their part to try and block out any

1772
01:31:37,880 --> 01:31:40,160
Speaker 1: of this. And I know we can't. We cannot look

1773
01:31:40,200 --> 01:31:42,880
Speaker 1: past the fact. But A was done manually, Yeah, and

1774
01:31:42,920 --> 01:31:46,840
Speaker 1: B this was about Iranian protesters. That's what it was about.

1775
01:31:46,840 --> 01:31:49,760
Speaker 1: So are they trying are they serving every news organization

1776
01:31:49,840 --> 01:31:52,599
Speaker 1: on the planet with a sort of notice? Oh yeah,

1777
01:31:52,600 --> 01:31:55,200
Speaker 1: because we were fun. You think we're the only people

1778
01:31:55,240 --> 01:31:57,519
Speaker 1: who cover this? Yeah, so they like take it down

1779
01:31:57,560 --> 01:32:00,960
Speaker 1: on CNN's channel, right, Probably not? Yeah, let's see. I

1780
01:32:01,000 --> 01:32:03,360
Speaker 1: mean I would love to see that listen. It shows

1781
01:32:03,400 --> 01:32:05,960
Speaker 1: the same thing that it always shows. Number One is

1782
01:32:06,120 --> 01:32:10,400
Speaker 1: very hard to cover politics on YouTube, to cover news

1783
01:32:10,520 --> 01:32:13,599
Speaker 1: on YouTube, and be able to do it without fear

1784
01:32:13,720 --> 01:32:16,599
Speaker 1: of having these sorts of issues arise. Which is why

1785
01:32:16,640 --> 01:32:18,920
Speaker 1: we built the business model that we built because we

1786
01:32:19,000 --> 01:32:22,120
Speaker 1: knew this from the beginning. Number Two, like you just

1787
01:32:22,240 --> 01:32:24,640
Speaker 1: you can't trust these people. You can't trust it to

1788
01:32:24,640 --> 01:32:27,680
Speaker 1: be applied fairly, you can't trust them to be applied consistently.

1789
01:32:28,040 --> 01:32:30,719
Speaker 1: You can't trust our channel be treated the same way

1790
01:32:30,920 --> 01:32:34,799
Speaker 1: as the CNN channel or larger you know, official corporate

1791
01:32:35,120 --> 01:32:39,560
Speaker 1: media channels. And so yeah, it's it's a terrible situation. Ultimately,

1792
01:32:39,760 --> 01:32:42,200
Speaker 1: you know, we figured out, like we sent out the

1793
01:32:42,280 --> 01:32:45,920
Speaker 1: premium show on Vimeo instead, is our workaround so that

1794
01:32:45,960 --> 01:32:48,360
Speaker 1: we could still provide the product that we've promised to

1795
01:32:48,439 --> 01:32:51,720
Speaker 1: you all who are paying subscribers. But you know, we

1796
01:32:51,760 --> 01:32:54,479
Speaker 1: are at their whims like every day, all the time.

1797
01:32:54,680 --> 01:32:57,720
Speaker 1: We're always thinking about when we're doing the show. We're

1798
01:32:57,720 --> 01:33:00,519
Speaker 1: having to ask ourselves constantly like are they got a

1799
01:33:00,560 --> 01:33:03,080
Speaker 1: fairy ard? Is this going to be copyrighted? What about

1800
01:33:03,080 --> 01:33:05,639
Speaker 1: that music all? What was it we had a little

1801
01:33:05,720 --> 01:33:09,400
Speaker 1: music playing in our mentor oh, Okay, yeah, this is fun.

1802
01:33:09,560 --> 01:33:13,400
Speaker 1: So we had to play a video obviously of Trump

1803
01:33:13,479 --> 01:33:16,000
Speaker 1: during his announcement, and Trump happened to have some music

1804
01:33:16,040 --> 01:33:19,040
Speaker 1: playing in the background. We got the whole thing got

1805
01:33:19,120 --> 01:33:22,479
Speaker 1: hit by copyright because there was some audio in the

1806
01:33:22,520 --> 01:33:25,120
Speaker 1: background of this video when we covered that's right, when

1807
01:33:25,160 --> 01:33:30,000
Speaker 1: we covered Trump Donald Trump the presidency. Okay, there's what

1808
01:33:30,040 --> 01:33:33,000
Speaker 1: can we do about that? The man played some music. Obviously,

1809
01:33:33,080 --> 01:33:37,160
Speaker 1: this is like a clear news gathering, like core function,

1810
01:33:37,479 --> 01:33:41,720
Speaker 1: journalistic value, and the whole thing gets hit because he

1811
01:33:41,760 --> 01:33:43,880
Speaker 1: played some music in the background. So it shows you

1812
01:33:43,960 --> 01:33:47,559
Speaker 1: how hard it is to navigate by their rules, how

1813
01:33:47,600 --> 01:33:50,600
Speaker 1: inconsistently the rules are applied, and how much of a

1814
01:33:50,640 --> 01:33:53,560
Speaker 1: thread it really is ultimately to independent, independent media. And

1815
01:33:53,560 --> 01:33:56,559
Speaker 1: it also shows why we appreciate you all who support

1816
01:33:56,680 --> 01:33:59,439
Speaker 1: us so much, because if you have to be at

1817
01:33:59,439 --> 01:34:02,280
Speaker 1: their whims, that the whims of the YouTube gods like

1818
01:34:02,360 --> 01:34:05,080
Speaker 1: they can screw you at any point in time with

1819
01:34:05,320 --> 01:34:07,800
Speaker 1: very little recourse. Absolutely correct. So I know a lot

1820
01:34:07,800 --> 01:34:09,479
Speaker 1: of you guys had questions about that, so it was

1821
01:34:09,520 --> 01:34:12,200
Speaker 1: important to address it. That's the full context. We've can

1822
01:34:12,280 --> 01:34:14,040
Speaker 1: tested it, we'll see if it works or not. I'm

1823
01:34:14,080 --> 01:34:16,960
Speaker 1: not particularly hopeful. You know again the one with the

1824
01:34:17,080 --> 01:34:20,479
Speaker 1: UFC that was when that I forget the guy's name,

1825
01:34:20,560 --> 01:34:23,719
Speaker 1: the fighter said something about Ukraine and again we coverdated,

1826
01:34:23,720 --> 01:34:27,200
Speaker 1: no question, totally taken off locked. And here's the other thing.

1827
01:34:27,240 --> 01:34:29,960
Speaker 1: It's so ridiculous. Okay, let's say so for that one.

1828
01:34:30,080 --> 01:34:32,639
Speaker 1: We're ultimately successful in the challenge, right, but it took weeks.

1829
01:34:32,680 --> 01:34:35,360
Speaker 1: Actually yeah, yeah, all the views are done, like right

1830
01:34:35,479 --> 01:34:39,280
Speaker 1: at that point, I mean, yeah, you're it's over, Like, Okay,

1831
01:34:39,320 --> 01:34:41,479
Speaker 1: you can technically can test it, you can have it

1832
01:34:41,560 --> 01:34:44,160
Speaker 1: remedied after the fact, but you know, I mean that

1833
01:34:44,240 --> 01:34:46,439
Speaker 1: show is long in the past at this point. That's

1834
01:34:47,080 --> 01:34:49,519
Speaker 1: part of what we do here is being very timely

1835
01:34:50,000 --> 01:34:53,160
Speaker 1: with breaking news as it occurs. So if you're talking

1836
01:34:53,200 --> 01:34:56,160
Speaker 1: about weeks later getting a remedy, I mean that's they've

1837
01:34:56,160 --> 01:34:58,840
Speaker 1: already screwed you. It's done. It's over, absolutely right. Thank

1838
01:34:58,880 --> 01:35:00,519
Speaker 1: you guys so much for watching. We appreciate it, We

1839
01:35:00,600 --> 01:35:02,599
Speaker 1: appreciate your support. Shout out to the premiums who we'd

1840
01:35:02,600 --> 01:35:05,400
Speaker 1: literally exist because of the situation with FIFA and we

1841
01:35:05,439 --> 01:35:07,680
Speaker 1: don't have to rely on YouTube ad revenue and all

1842
01:35:07,680 --> 01:35:09,680
Speaker 1: of that. We think about you guys every day and

1843
01:35:09,720 --> 01:35:12,360
Speaker 1: We appreciate you all so much. Also, live show, don't

1844
01:35:12,400 --> 01:35:15,759
Speaker 1: forget December sixth, December seventh, We're coming next week. Tickets

1845
01:35:15,760 --> 01:35:18,200
Speaker 1: are all down in the description link of this video.

1846
01:35:18,320 --> 01:35:21,519
Speaker 1: And uh what, we have full show programming back this week.

1847
01:35:21,560 --> 01:35:23,400
Speaker 1: It's awesome to be back the desk. We got our

1848
01:35:23,400 --> 01:35:26,280
Speaker 1: beautiful holiday set. Shout out to our crew. Otherwise, we'll

1849
01:35:26,280 --> 01:35:42,680
Speaker 1: see you all on Thursday.