WEBVTT - Interview Only w/ Bradley Tusk - Voting On Your Phone Could Be The Future Of Democracy 0:00:00.040 --> 0:00:02.840 It's sponsorship time. But you know what, it's really great 0:00:02.880 --> 0:00:06.040 when you get a sponsor that you already use. And 0:00:06.120 --> 0:00:09.119 guess what. Quint's is something that in the Todd household 0:00:09.200 --> 0:00:10.920 we already go to. Why do we go to Quint's 0:00:10.920 --> 0:00:13.160 Because it's a place you go where you can get 0:00:13.200 --> 0:00:16.680 some really nice clothes without the really expensive prices. And 0:00:17.040 --> 0:00:18.840 one of the things I've been going through is I've 0:00:18.880 --> 0:00:22.120 transitioned from being mister cot and tie guy to wanting 0:00:22.400 --> 0:00:25.360 a little more casual but to look nice doing it. 0:00:25.400 --> 0:00:27.880 Is I've become mister quarter zip guy. Well guess what. 0:00:28.040 --> 0:00:31.920 Guess who's got amazing amounts of quarter zips? 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That's 0:01:35.120 --> 0:01:40.840 qui nce dot com, slash chuck, free shipping and three 0:01:40.959 --> 0:01:45.360 hundred and sixty five day returns quints dot com slash chuck. 0:01:46.200 --> 0:01:52.680 Use that code. My guest today as someone who's been 0:01:52.680 --> 0:01:56.200 at the center of American politics, business tech uh for 0:01:56.240 --> 0:01:58.720 the better part of a couple of decades, and because 0:01:58.840 --> 0:02:01.880 there's so much happening in the world of business that 0:02:02.000 --> 0:02:06.160 is intersecting with the world of politics, and Washington in 0:02:06.160 --> 0:02:11.360 some ways is becoming an epicenter of business in a 0:02:11.400 --> 0:02:15.040 derivative way, because it's frankly about a whole bunch of 0:02:15.040 --> 0:02:17.520 companies trying to figure out what it takes to keep 0:02:17.600 --> 0:02:21.239 Washington out of their business. But that in itself is 0:02:21.280 --> 0:02:24.679 a big business. So my guest is Bradley Tusk. He's 0:02:24.680 --> 0:02:28.400 a political strategist turned investor. He lives in this world 0:02:28.919 --> 0:02:31.520 in between in a political side. He was the campaign 0:02:31.520 --> 0:02:36.359 manager for Michael Bloomberg. And when Michael Bloomberg decided he 0:02:36.400 --> 0:02:39.079 wanted a third term, which I wonder if in hindsight 0:02:39.160 --> 0:02:41.760 he ever. I want to tell anybody who wants a 0:02:41.800 --> 0:02:45.200 third term, don't do it. Yeah, third terms never go. 0:02:45.960 --> 0:02:47.560 I'm trying. I was trying to sit here and think 0:02:47.600 --> 0:02:48.799 of a good third term. 0:02:48.880 --> 0:02:53.040 There's none, Bradley, there's none. Ask Mario Cuomo whether he 0:02:53.040 --> 0:02:55.720 should have run for a third term. Ask Andrew Cuomo 0:02:55.760 --> 0:02:57.560 whether he should have been thinking about a third term. 0:02:58.200 --> 0:03:01.840 Third term. I Tim Walls is running for a third term. 0:03:01.880 --> 0:03:05.880 I want to say, don't do it. There's no good 0:03:05.960 --> 0:03:09.040 that comes from it. If you've if you've succeeded enough 0:03:09.080 --> 0:03:11.880 that a third term is viable. There's nowhere to go 0:03:11.919 --> 0:03:12.320 but down. 0:03:12.680 --> 0:03:14.959 Yeah. I saw a study once it said that after 0:03:15.080 --> 0:03:18.320 seven years, no matter who the chief executive is, people 0:03:18.320 --> 0:03:21.240 are ready to move on. And that's like every Taco system, 0:03:21.360 --> 0:03:25.440 whether it's a dictator or a mayor or a governor 0:03:25.520 --> 0:03:26.200 or anything else. 0:03:26.480 --> 0:03:28.920 Right, look at our own history. I mean, I'm a believer. 0:03:29.560 --> 0:03:30.960 And this will get to a little bit of our 0:03:30.960 --> 0:03:33.960 conversation here a little bit. But you know, I think 0:03:34.000 --> 0:03:36.800 any Democrat that is still consumed with Trump is sort 0:03:36.800 --> 0:03:40.000 of wasting their time. And I don't mean this. Look Trump, 0:03:40.240 --> 0:03:42.880 there's a lot of things he's doing that you that 0:03:42.960 --> 0:03:45.480 you may that may impact your life, and you've got 0:03:45.480 --> 0:03:47.800 to care about it. I get it, But I don't 0:03:47.800 --> 0:03:50.640 think he's you know, we're about to have a debate 0:03:50.680 --> 0:03:52.600 about what the post Trump world's going to look like. 0:03:52.680 --> 0:03:54.880 And I got to think people need to be focused 0:03:54.880 --> 0:03:57.800 on that because he's been in our lives for a decade. 0:03:58.320 --> 0:04:01.040 And guess what, nobody ever lasts that long. We're at 0:04:01.040 --> 0:04:04.280 the tail end, right, the Reagan Bush eraw basically ended 0:04:04.280 --> 0:04:05.840 with the nineteen ninety tax deal. 0:04:06.240 --> 0:04:06.480 Right. 0:04:06.560 --> 0:04:09.680 You know, Eisenhower lasted, you know, you know, his era 0:04:09.880 --> 0:04:13.040 was about a decade, Kennedy, Johnson a decade, Nixon even 0:04:13.080 --> 0:04:15.440 less than that. I mean, you know, Obama sort of, 0:04:15.640 --> 0:04:18.520 you know, but it just we don't we sort of 0:04:18.560 --> 0:04:20.640 wear out. And if you look at the modern era 0:04:20.720 --> 0:04:23.920 of our presidents going back since World War Two, there's 0:04:23.960 --> 0:04:28.240 a reason that sort of a movement sort of petered 0:04:28.279 --> 0:04:31.120 out right in that eight to ten year mark in 0:04:31.200 --> 0:04:33.960 some form or another, and we're ten years with Trumpere. 0:04:34.720 --> 0:04:39.560 Yeah. Man, I think the question is to me, the 0:04:39.600 --> 0:04:42.880 things that he's doing that will go away when he 0:04:42.960 --> 0:04:46.799 goes away, and the things that he's done that will last, 0:04:47.040 --> 0:04:50.080 of which some might prove to be good, but a 0:04:50.080 --> 0:04:52.320 lot of it might prove to be pretty harmful long 0:04:52.400 --> 0:04:56.080 term the area. And maybe this is where kind of 0:04:56.080 --> 0:04:58.279 my perspective from the business side is a little different 0:04:58.320 --> 0:05:02.919 than the typical person in the political world is I 0:05:02.960 --> 0:05:05.560 don't like all the rule of law stuff, but I 0:05:05.600 --> 0:05:08.480 think that that ends when he ends right. That is 0:05:08.600 --> 0:05:13.240 very much a product of him specifically, Whereas some of 0:05:13.279 --> 0:05:16.920 the steps he's taking around the economy really do worry 0:05:17.000 --> 0:05:20.400 me from a much longer perspective as an investor, because 0:05:20.480 --> 0:05:23.800 if I were China and I said I want to 0:05:23.839 --> 0:05:27.520 put in the Manchurian candidate, and I want to undermine 0:05:27.600 --> 0:05:31.279 the long term strength of the US, our economy, one 0:05:31.320 --> 0:05:33.520 of the things you would really go after. So what 0:05:33.560 --> 0:05:37.120 are the things to me that make our economy unique. 0:05:37.839 --> 0:05:41.480 It's free trade, its intellectual property, it's rule of law, 0:05:41.680 --> 0:05:45.880 it's independent markets, independent data. It is getting the very 0:05:45.920 --> 0:05:52.040 best people through immigration. So a lot of the fundamental 0:05:52.279 --> 0:05:55.719 things that make our economy truly unique, Investing in R 0:05:55.760 --> 0:05:59.240 and D, investing in higher ed, all of that are 0:05:59.279 --> 0:06:02.800 all things that Trump, for whatever reason, has really tried 0:06:02.839 --> 0:06:07.719 to undermine. So I worry more about the impact of 0:06:07.839 --> 0:06:11.320 just taking our strengths and undermining all of them than 0:06:11.480 --> 0:06:14.840 whateverything he has said today that on truth social that 0:06:14.920 --> 0:06:17.120 makes everyone upset. I don't care about that stuff. 0:06:17.560 --> 0:06:19.280 No, I mean, to me, the biggest I've always said 0:06:19.279 --> 0:06:22.119 that there's the presidency. Actually there's three different jobs wrapped 0:06:22.200 --> 0:06:26.920 up in one. You're being elected to lead your party, 0:06:27.279 --> 0:06:30.239 you're being elected to command our armed forces as commander 0:06:30.240 --> 0:06:32.200 in chief, and you're being elected to be leader of 0:06:32.200 --> 0:06:35.480 the free world. And he has chosen not to be 0:06:35.560 --> 0:06:40.240 leader of the free world. And that is something that 0:06:40.680 --> 0:06:43.720 the public doesn't realize is a problem until it's gone. 0:06:44.360 --> 0:06:46.799 It's a very hard in fact, when you tell people 0:06:46.839 --> 0:06:48.360 you want to be leader of the free world, No, 0:06:48.760 --> 0:06:50.440 we don't want that. We don't want to be the 0:06:50.480 --> 0:06:52.280 beat cop. But as I always say, you know, I 0:06:52.320 --> 0:06:54.320 always say when people say I don't want to be 0:06:54.360 --> 0:06:56.919 the world's policeman, I'm like, yeah, but somebody's going to be. 0:06:57.320 --> 0:07:00.560 Would you rather be us or another country? You may 0:07:00.560 --> 0:07:03.040 not want us to be the world's cop, but you're 0:07:03.080 --> 0:07:05.360 not gonna like it if China is right. 0:07:05.440 --> 0:07:08.760 Which then how do you explain the other day him 0:07:09.640 --> 0:07:13.240 sending allowing the Vida to sell you know, the h 0:07:13.320 --> 0:07:17.720 two hundred GPUs to China, right like it? There are 0:07:17.800 --> 0:07:21.120 things that I don't get. So for example, he says that, 0:07:21.240 --> 0:07:28.120 and look if you were a full free trade you know, absolutist, right. 0:07:28.520 --> 0:07:31.520 But then the next day they issue an executive order saying, oh, 0:07:31.560 --> 0:07:34.680 States can't regulate AI because it's a national security issue. 0:07:35.120 --> 0:07:37.280 It can't be an ob security issue. If you just 0:07:37.360 --> 0:07:40.840 took the most valuable thing that your biggest rival would 0:07:40.840 --> 0:07:42.280 want and allow the to go to the. 0:07:43.800 --> 0:07:45.600 Well, let's talk about this is actually the heart of 0:07:45.640 --> 0:07:48.440 the conversation. I want to have which is, you know, 0:07:49.960 --> 0:07:53.920 the business community in general has been frustrated with the 0:07:55.000 --> 0:08:00.160 last two Democratic administrations, sure for too much regular, too 0:08:00.200 --> 0:08:06.400 much regulation, too much red tape, things like this. And 0:08:06.480 --> 0:08:10.840 I get the appeal of, Hey, isn't it great that 0:08:10.920 --> 0:08:13.160 you don't have to have an army of lobbyists on 0:08:13.200 --> 0:08:15.080 Capitol Hill? You just have to go into the Oval 0:08:15.120 --> 0:08:18.640 office write one check or rite you know, or make 0:08:18.720 --> 0:08:22.200 one board seat change whatever. You only have to placate 0:08:22.280 --> 0:08:24.400 one individual as a hell of a lot easier than 0:08:24.440 --> 0:08:28.440 placating you know, thirty members of Congress or ten senators 0:08:28.480 --> 0:08:30.840 and all of that stuff. So I understand the efficiency 0:08:30.880 --> 0:08:37.480 aspect of this, But are we doomed here because business 0:08:37.480 --> 0:08:40.560 such as an easy relationship right now with Trump's version 0:08:40.600 --> 0:08:44.960 of the Republican Party, that they're now going to expect 0:08:45.040 --> 0:08:48.360 this kind of treatment from all politicians going forward. That 0:08:48.480 --> 0:08:51.000 this is something that we can't put back in the bottle. 0:08:51.600 --> 0:08:55.200 And I, you know, I'm sorry, I don't trust the 0:08:55.240 --> 0:08:58.960 tech industry with AI without guardrails, because I saw what 0:08:59.000 --> 0:09:02.720 the tech industry did was social media, which totally destroyed 0:09:02.920 --> 0:09:06.679 our information ecosystem. So yeah, but this is the world 0:09:06.800 --> 0:09:10.400 you live in, and you're navigating, so you tell me, so, I. 0:09:10.360 --> 0:09:15.120 Would say, for me, the efficiency argument probably doesn't work 0:09:16.800 --> 0:09:20.000 because it's it's too risky and too variable. Right, you 0:09:20.040 --> 0:09:24.240 were dealing just with winning the favor of one very 0:09:24.320 --> 0:09:28.200 mercurial person and who seems to a lot of the 0:09:28.280 --> 0:09:31.200 time agree with the last person he spoke to about something, 0:09:31.720 --> 0:09:35.400 and so I don't like the notion of basing an 0:09:35.440 --> 0:09:40.600 investment strategy or regulatory strategy around that. And to me, 0:09:40.679 --> 0:09:44.959 the right analogy is when I have a company that 0:09:45.000 --> 0:09:47.480 I'm investing in that has some sort of new disruptive 0:09:47.600 --> 0:09:51.800 technology that either we're taking on an entrenched interest and 0:09:51.800 --> 0:09:54.960 there's a regulatory fight, or we're cruitting an entirely new 0:09:55.400 --> 0:09:59.840 type of industry AI, crypto, flying cars, whatever, and you 0:09:59.840 --> 0:10:02.960 need to build a regulatory framework. There's often the question 0:10:03.080 --> 0:10:06.080 of do you go federal or do goo state? We 0:10:06.320 --> 0:10:09.800 usually choose to go state by state, which is wildly inefficient. Right, 0:10:09.880 --> 0:10:12.440 we're talking about fifty different bills or whatever it is 0:10:12.480 --> 0:10:14.160 that we rules, whatever it might be that we have 0:10:14.240 --> 0:10:18.559 to create or pass. However I can get outcomes. So 0:10:18.640 --> 0:10:23.600 in twenty fifteen, the House Energy Subcommittee, on a bipartisan 0:10:23.679 --> 0:10:29.920 basis passed unanimously legislation to begin the regulation of autonomous vehicles. 0:10:30.160 --> 0:10:33.560 So right now, the US federal government has done nothing 0:10:34.160 --> 0:10:36.880 to figure out how to regulator deal with self driving 0:10:36.920 --> 0:10:40.800 cars or trucks or anything else. The bill passed the 0:10:40.920 --> 0:10:45.960 subcommittee honesty and has never moved since, nor has federal 0:10:46.040 --> 0:10:50.319 dot issued any sort of rules whatsoever as to how 0:10:50.679 --> 0:10:51.640 this should work. 0:10:52.720 --> 0:10:55.640 This is for presidential administrations. 0:10:54.960 --> 0:10:58.800 Correct, right and at the same time in states that 0:10:58.920 --> 0:11:02.000 you can like or not like any individual states rules 0:11:02.040 --> 0:11:05.920 around autonomous vehicles, but they have them right, and you 0:11:05.960 --> 0:11:09.640 can get to an outcome and even if you don't 0:11:09.640 --> 0:11:12.000 get the president you want in one state, you have 0:11:12.040 --> 0:11:15.199 fifty bytes at the apple. So oftentimes we're looking at 0:11:15.200 --> 0:11:18.680 something and saying, Okay, where do we think is the 0:11:18.760 --> 0:11:22.000 right starting point to launch this thing? Based on partly 0:11:22.040 --> 0:11:25.200 the economics, so the market you know, and evermarally starts 0:11:25.200 --> 0:11:29.000 in California, in New York and Texas, but also from 0:11:29.000 --> 0:11:32.200 a political standpoint, where can we win? Because you know, 0:11:32.360 --> 0:11:34.559 one of the things that when when I invest in 0:11:34.600 --> 0:11:38.200 an early stage tech startup, I genuinely believe that people 0:11:38.240 --> 0:11:40.800 are going to really like the product or the service 0:11:40.920 --> 0:11:44.040 or otherwise I'm not deploying the capital or making the 0:11:44.080 --> 0:11:46.600 investment in the first place, and so like. For example, 0:11:46.640 --> 0:11:48.880 the very first tech company I ever did was Uber, 0:11:49.240 --> 0:11:53.679 starting in twenty eleven. And my view, which was the 0:11:53.720 --> 0:11:57.600 same as Travis's view, was people are really gonna like this, 0:11:58.200 --> 0:12:00.679 So we just need to get this thing up and 0:12:00.760 --> 0:12:04.520 running wherever we can show people how much better it 0:12:04.600 --> 0:12:07.600 is in the taxi system, and then they will fight 0:12:07.679 --> 0:12:10.360 for it. And in every market where we prove it, 0:12:10.360 --> 0:12:13.000 it gets that much easier in the next market. And 0:12:13.000 --> 0:12:14.959 that basically it was a big fight, and it was 0:12:15.000 --> 0:12:17.120 city by city in that case, but it turned out 0:12:17.200 --> 0:12:21.160 to be right. So I generally think the right strategy 0:12:21.160 --> 0:12:24.920 to legalize most technology actually occurs at the unicipal or 0:12:24.960 --> 0:12:26.600 state level, and not in Washington. 0:12:26.880 --> 0:12:29.599 It's always been the I mean, look at the recreational 0:12:29.600 --> 0:12:33.719 marijuana movement, the medical marijuana movement, same sex marriage. Right, 0:12:33.760 --> 0:12:38.720 we've in some ways to create critical mass to convince 0:12:38.800 --> 0:12:41.720 Congress that hey, you should get involved in this, you know, 0:12:42.040 --> 0:12:44.560 having it emanate. I mean, that's the beauty of federalism, right, 0:12:44.600 --> 0:12:46.600 Like that is that is supposed to be the beauty 0:12:46.600 --> 0:12:50.760 of the system, which is why I'm glad to see 0:12:50.760 --> 0:12:55.520 there's bipartisan concern about a moratorium on state regulations with AI, 0:12:56.320 --> 0:13:01.400 and it it is you know that this is I 0:13:01.440 --> 0:13:04.680 think this is where if I were, if I were 0:13:04.760 --> 0:13:09.600 in this industry, I wouldn't want this. I mean, look 0:13:09.600 --> 0:13:12.160 at the public right now. The public approval ratings of 0:13:12.200 --> 0:13:15.960 AI are plummeting. Right we are, compared to the rest 0:13:16.000 --> 0:13:19.080 of the world, more dystopian about AI than most other 0:13:19.360 --> 0:13:23.080 civil societies. I would argue that has a lot to 0:13:23.120 --> 0:13:26.640 do with how involved our polarizing president is with the industry. 0:13:26.920 --> 0:13:29.480 I actually think if he were less involved, there'd be 0:13:29.559 --> 0:13:31.640 fewer doom and gloomers about AI. 0:13:32.120 --> 0:13:35.640 With two caddiats, one is I actually think the political 0:13:35.679 --> 0:13:38.080 tsunami and AI hasn't even hate. 0:13:38.880 --> 0:13:40.720 I agree twenty eight is going to be that. I 0:13:40.760 --> 0:13:44.440 think it's I think the fear I believe the single 0:13:44.480 --> 0:13:46.439 biggest issue in twenty eight, and we'll see it a 0:13:46.480 --> 0:13:48.680 little bit in twenty six. He is going to be 0:13:48.720 --> 0:13:50.520 fear of AI displacement. 0:13:50.080 --> 0:13:54.280 Well displaced on our jobs, combined with so every data 0:13:54.320 --> 0:13:58.920 center requires so much compute and so much energy that 0:13:58.960 --> 0:14:01.800 they're expecting it to consumption to double. We're certainly that 0:14:01.920 --> 0:14:06.599 doubling supply, which means consumers electric builds are going to skyrocket. 0:14:06.720 --> 0:14:08.920 We already saw a little bit of this in Georgia. 0:14:09.880 --> 0:14:13.600 Virginia, I mean Louden County. Man. You know, they were 0:14:13.600 --> 0:14:16.000 making all this money lead some land on data centers. 0:14:16.240 --> 0:14:19.960 It is now like you know, it's a they've declared 0:14:19.960 --> 0:14:20.920 war on data centers. 0:14:21.080 --> 0:14:23.640 I think we're going to see laws passing states this 0:14:23.760 --> 0:14:27.880 year that say that localities cannot issue permits and zoning 0:14:28.080 --> 0:14:31.720 for data centers without proof that there will not be 0:14:31.760 --> 0:14:35.720 a corresponding price increase for consumers and electric bills. And 0:14:35.800 --> 0:14:38.520 so you're right, But we had a world where let's 0:14:38.560 --> 0:14:42.160 say that unemployment and the job numbers today, I think 0:14:42.240 --> 0:14:44.840 further to except that they were valid. Further you know, 0:14:44.920 --> 0:14:49.240 support of this thesis that if job displacement keeps going up, 0:14:49.280 --> 0:14:52.960 and unemployment keeps rising and rising gets even potentially double digits, 0:14:53.600 --> 0:14:57.120 and electric prices keep going up, and because of Tariff's 0:14:57.160 --> 0:15:00.160 other consumer prices keep going up, and you know, only 0:15:00.240 --> 0:15:03.640 five thirty guys like Sam Altman become trillionaires, but the 0:15:03.680 --> 0:15:05.080 rest of the world's you know, that's of the country 0:15:05.080 --> 0:15:08.680 city of eighteen percent unemployment. That's the French revolution man, 0:15:08.800 --> 0:15:13.520 and I don't think either party necessarily understands that or 0:15:13.560 --> 0:15:16.480 sees it coming. I think one, you know, Trump in 0:15:16.520 --> 0:15:19.000 his view is like, doesn't matter. The only goal is 0:15:19.040 --> 0:15:20.680 to get your hands on as much as you can 0:15:20.800 --> 0:15:23.720 before you die. So therefore this at least fits with 0:15:23.800 --> 0:15:28.160 his worldview. Democrats, I don't think have any plan at 0:15:28.160 --> 0:15:29.440 all from one I can tell. 0:15:30.720 --> 0:15:33.560 No, I don't think they do either, and it strikes 0:15:33.600 --> 0:15:38.440 me and I'm curious. Look, I take it you're trying 0:15:38.440 --> 0:15:40.640 to help Democrats be more pro business. 0:15:41.160 --> 0:15:43.720 Yes, I mean, in part because that's how. 0:15:43.640 --> 0:15:45.800 You would describe your you know, your sort of your 0:15:45.800 --> 0:15:47.280 altruistic goals here. 0:15:47.680 --> 0:15:50.160 Often times, and I think, you know, not counting what 0:15:50.200 --> 0:15:52.120 I do out of my foundation, which is totally separate. 0:15:52.120 --> 0:15:55.880 But yeah, and I think oftentimes I feel like, and 0:15:56.560 --> 0:16:01.200 you might appreciate this more than most people. Both sides 0:16:01.440 --> 0:16:04.720 are so dug in that they miss the underlying point. Right. 0:16:04.760 --> 0:16:08.160 So you have these Silicon Valley types who are now 0:16:08.280 --> 0:16:11.720 very powerful Washington a Mark Injuries or someone like that, right, 0:16:11.960 --> 0:16:15.920 and they hate regulation and their Libertarians and that sort 0:16:15.920 --> 0:16:19.960 of sounds great in theory, no rules, but in reality 0:16:20.320 --> 0:16:23.960 you can't build multi multi billion dollar industries. In the 0:16:24.000 --> 0:16:26.600 absence of all structure, you need a certain amount of 0:16:26.960 --> 0:16:30.520 rules and regulation. Crypto, right needs a certain amount of 0:16:30.560 --> 0:16:34.000 regulation to separate the coin basis of the world the 0:16:34.040 --> 0:16:36.920 circles of the world. Companies that I've invested in with 0:16:37.360 --> 0:16:40.120 total scams, right, And because there's a lot of fraud 0:16:40.160 --> 0:16:42.000 in the crypto world, and there's also a lot of 0:16:42.480 --> 0:16:44.880 genuine companies that you can decide whether or not buying 0:16:44.880 --> 0:16:47.400 crypto is a good idea. That's up to the individual. 0:16:48.040 --> 0:16:51.360 But crypto itself only works because there is some level 0:16:51.360 --> 0:16:55.960 of regulation that says this exchange is permissible, this exchange 0:16:56.200 --> 0:16:59.400 is not right, so you need that. But then, on 0:16:59.440 --> 0:17:02.440 the other hand, democrats, by sort of playing to their 0:17:02.520 --> 0:17:06.600 extremes that all capitalism and all wealth is inherently corrupt 0:17:06.640 --> 0:17:10.720 and evil in some way totally missed the point because 0:17:10.800 --> 0:17:14.040 people need to make a living, and people are aspirational 0:17:14.119 --> 0:17:17.200 and want to do well, and so just vilifying everyone 0:17:17.440 --> 0:17:21.480 doesn't work either. And the reality is regulation is neither 0:17:21.520 --> 0:17:25.239 inherently good nor bad. It's how it's applied. Like, let 0:17:25.280 --> 0:17:28.679 me give an example. I was driving once from Santa 0:17:28.720 --> 0:17:31.760 Barbara to Alla, and I'm going down the Pacific Coast Highway, 0:17:32.280 --> 0:17:34.879 and I'm appreciating how beautiful it is, because you'd have 0:17:34.920 --> 0:17:36.639 to be something really wrong with you not to do 0:17:36.720 --> 0:17:39.359 that right. And the thing that hit me was, Okay, 0:17:39.480 --> 0:17:43.000 what I'm seeing is from my car window the ocean. 0:17:43.080 --> 0:17:46.920 The reason why is that they are not gas stations 0:17:47.160 --> 0:17:50.720 and you know, Chipolis and whatever else blocking the view 0:17:51.000 --> 0:17:53.840 because of regulation. So in that case, I would say, 0:17:53.920 --> 0:17:56.760 a good regulation, I didn't get to LA and I 0:17:56.920 --> 0:18:00.760 run into all these homeless encampments. Now again, again that's 0:18:00.800 --> 0:18:04.200 the product of regulation. Bad regulation in that case, those 0:18:04.200 --> 0:18:08.040 are regulations that make constructing affordable housing way too expensive 0:18:08.040 --> 0:18:10.399 and difficult, and people don't have anywhere to live as 0:18:10.440 --> 0:18:14.600 a result. So basically, zoning regulation on the same street 0:18:15.080 --> 0:18:18.119 right resulted in a net positive at one part of 0:18:18.160 --> 0:18:21.760 it and negative in the other. And anyone on either 0:18:21.880 --> 0:18:25.480 side who just declares unilaterally that something is inherently good 0:18:25.560 --> 0:18:27.400 or bad just doesn't understand what they're talking. 0:18:29.119 --> 0:18:32.760 Having good life insurance is incredibly important. I know from 0:18:32.800 --> 0:18:35.880 personal experience. I was sixteen when my father passed away. 0:18:35.920 --> 0:18:38.320 We didn't have any money. He didn't leave us in 0:18:38.359 --> 0:18:43.320 the best shape. My mother, single mother now widow, myself sixteen, 0:18:43.400 --> 0:18:44.800 trying to figure out how am I going to pay 0:18:44.800 --> 0:18:48.080 for college? 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Application times vary and the rates themselves 0:20:01.720 --> 0:20:04.639 may vary as well, but trust me, life insurance is 0:20:04.680 --> 0:20:07.640 something you should really think about, especially if you've got 0:20:07.640 --> 0:20:14.000 a growing family. You know, it's funny, I keep it 0:20:14.240 --> 0:20:18.000 feels as if the Democrats are looking for the twenty 0:20:18.040 --> 0:20:21.600 first century version of Bill Clinton, who who struck this 0:20:21.760 --> 0:20:25.240 balance right now. He did it out of necessity. Democrats 0:20:25.280 --> 0:20:29.359 had lost three straight presidential elections, all of them were blowouts. 0:20:30.080 --> 0:20:32.600 It was sort of you kind of had to have 0:20:32.680 --> 0:20:36.959 a Democrat who acknowledged at that point in time. And 0:20:37.000 --> 0:20:38.600 I have a friend of mine who we argue, is 0:20:38.600 --> 0:20:41.800 the country center right or are the institutions center right right? 0:20:41.880 --> 0:20:45.640 The constitution sort of arguably gives the minority a bit. 0:20:45.760 --> 0:20:49.960 You know, you could our rules give the current structure 0:20:50.359 --> 0:20:52.760 the right side of the spectrum has more advantages. I 0:20:52.760 --> 0:20:55.760 could argue fifty years ago that same structure gave sort 0:20:55.800 --> 0:21:00.720 of the Democrats a little bit more. But at some 0:21:00.800 --> 0:21:04.000 point that is the structure that we live under. But 0:21:04.040 --> 0:21:07.280 Bill Clinton sort of you know want, Hey, we should 0:21:07.320 --> 0:21:13.199 have a rules based, opportunity focused society, right like you know, 0:21:13.359 --> 0:21:18.040 should be fair, equal access and opportunity, and I remember 0:21:18.359 --> 0:21:23.600 responsibility and opportunity, right, that balance between the two. I 0:21:23.880 --> 0:21:26.400 guess you know. I could say Obama tried to get 0:21:26.400 --> 0:21:28.720 that messaging, and he was better about it by twenty eleven, 0:21:28.800 --> 0:21:32.119 twenty twelve. Frankly out of necessity, right he was. He 0:21:32.160 --> 0:21:35.080 had a tough reelection, and he borrowed more of the 0:21:35.080 --> 0:21:38.080 Bill Clinton language or the Teddy Roosevelt language of the 0:21:38.080 --> 0:21:41.720 Square Deal things like that. It seems as if we 0:21:41.880 --> 0:21:45.760 just haven't found the politician to meet the moment that 0:21:45.760 --> 0:21:47.920 we're in. I think we all know them. We want 0:21:47.920 --> 0:21:51.840 to be both aspirational but with a I think we 0:21:51.880 --> 0:21:54.719 want a stronger safety net, and we haven't figured out 0:21:54.760 --> 0:21:57.800 how to. Donald Trump said, hey, I can do both, 0:21:58.359 --> 0:22:00.800 but he couldn't. Right, he doesn't really have the He 0:22:00.840 --> 0:22:04.320 doesn't really have a political party behind him that actually 0:22:04.359 --> 0:22:08.560 wants to do both. And I think there are those 0:22:08.600 --> 0:22:11.159 in the Business Committee that don't believe the left wants 0:22:11.160 --> 0:22:15.440 to create what you said, a society that allows for wealth, 0:22:15.760 --> 0:22:18.400 right right, Yes, they want the strong social safety net. 0:22:18.720 --> 0:22:21.960 So with Ultimately, what we really want is strong safety 0:22:22.040 --> 0:22:24.560