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Speaker 1: Every time a new technology comes into place, it ends

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Speaker 1: up creating more jobs, not less, even though it always

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Speaker 1: seems like it's about to put everybody out of work.

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Speaker 1: And then it just opens up all these new avenues

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Speaker 1: and the people with the talents flood ind.

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Speaker 2: O case, more job go yes, but are the people

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Speaker 2: able to go into those jobs? No.

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Speaker 1: So this is where I want people to remember. Two

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Speaker 1: percent of people can make that kind of change. Ninety

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Speaker 1: eight percent.

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Speaker 2: One Trump's tariffs, markets crashing, AI's takeover, and the rise

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Speaker 2: of bitcoin. Now there's one hidden force behind all three

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Speaker 2: that could reshape the economy, and most investors aren't ready

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Speaker 2: for it. And if you get this one thing wrong,

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Speaker 2: you could be holding the wrong assets, working in the

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Speaker 2: wrong job, and.

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Speaker 3: Watching your wealth disappear.

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Speaker 2: But if you get it right, you have the chance

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Speaker 2: to be miles ahead of everyone. Today, I am sitting

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Speaker 2: down with Tom Baylou. Tom's built a billion dollar brand,

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Speaker 2: interviewed over six hundred top performers. He's a leading voice

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Speaker 2: in the world through impact theory, his top point zero

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Speaker 2: one percent podcast, billion view media company, and Tom teaches

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Speaker 2: people how to master mindset, strategy, and adaptability, which are

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Speaker 2: essential skills in the world that we're going into. So

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Speaker 2: in this video, we're going to discuss Trump's tariffs, we're

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Speaker 2: gonna talk about the markets crashing, we're gonna talk about

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Speaker 2: AI's takeover and what that means over the next couple

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Speaker 2: of years, and the rise of bitcoin. Of course, what

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Speaker 2: he thinks you're gonna need to know to survive and

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Speaker 2: thrive over the next three to five years.

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Speaker 3: So let's just jump right in with Tom.

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Speaker 2: So, what would you say some mind shift that you

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Speaker 2: could give to people that might be useful for them today.

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Speaker 2: The ultimate framework is really simple.

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Speaker 3: You at all times need to know.

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Speaker 1: This is the big one that people don't understand about themselves,

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Speaker 1: which is that they trust their.

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Speaker 3: And they shouldn't.

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Speaker 1: If people just run that all day, every day, they

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Speaker 1: can have all the success that their emotional stability, their drive,

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Speaker 1: and their level of intellect will allow. The big thing

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Speaker 1: I would think people should look at right now if

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Speaker 1: you really want to understand part of the game they're playing,

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Speaker 1: whether this is going to work because of how much

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Speaker 1: of the debt has to be refinanced. You've got to

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Speaker 1: get the we are in a cold war with very

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Speaker 1: high potential for being a kinetic war with China, they

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Speaker 1: can't control.

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Speaker 2: Your manufacturing, so that has to change. What do you

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Speaker 2: see AI agents doing to disrupt sort of the world

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Speaker 2: and at what speed less than twenty four months away

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Speaker 2: that you're seeing like this kind of blinding speed.

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Speaker 1: You need to be at the edge of it figuring

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Speaker 1: out how do I make this work. There's going to

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Speaker 1: be many billion dollar companies made by one, two or

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Speaker 1: three people. They get together, they deploy full AI orgs

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Speaker 1: all of a sudden, All of those employees that you

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Speaker 1: would have historically had they just go away?

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Speaker 2: All right, Tom, And one of your latest videos, you've

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Speaker 2: been talking a lot about tariffs and Trump and you

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Speaker 2: called the tariff planet global financial earthquake. Obviously, we've seen

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Speaker 2: markets crashing, seems like it's heating up with the US

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Speaker 2: and China.

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Speaker 3: A lot of people are on edge about this. Now.

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Speaker 2: You've been interviewing a lot of people I know, macro

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Speaker 2: thinkers that I know like ral Paul ray Alio.

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Speaker 3: Talking about the economic chaos that's happening.

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Speaker 2: So what do you think investors should be paying attention

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Speaker 2: to or doing right.

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Speaker 1: Now that there's absolutely no way they know what's happening?

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Speaker 1: And boy do I warn people against being day traders,

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Speaker 1: so I would have people asking one question, what do

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Speaker 1: you do in times of uncertainty? At this point, it's

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Speaker 1: probably too late, to be honest, for them to make

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Speaker 1: any sort of flight to safety, but I certainly could

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Speaker 1: have seen somebody going, Huh, this is going to bring

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Speaker 1: a lot of uncertainty. Markets hate uncertainty, so I'm going

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Speaker 1: to move into T bills or something along those lines

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Speaker 1: to avoid it. But honestly, from where I'm sitting, I'm

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Speaker 1: always taking the perspective that the odds of me beating

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Speaker 1: the market are effectively zero, and so I'm going to

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Speaker 1: play the old adage of time in the market versus

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Speaker 1: time being the market. Nothing about my thesis about where

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Speaker 1: certainly American companies go has changed, So I've already got

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Speaker 1: and I've watched your videos on Ray Dalio, and I

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Speaker 1: know his historical records. But the reason that I still

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Speaker 1: buy into that strategy is because I'm partly my age,

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Speaker 1: so I still have a long time in the market,

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Speaker 1: so I'm not super worried about, you know, a ten

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Speaker 1: year period where it gets a little flat. I am

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Speaker 1: way in a protective stance, so all of my high

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Speaker 1: risk risk on stuff is all going to be in

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Speaker 1: the companies I'm building. So I would advise people in

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Speaker 1: a time of massive economic uncertainty unless you really feel

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Speaker 1: like you have some insider information insider trading, but like

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Speaker 1: you really understand that market just obscenely, well, yeah, I

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Speaker 1: would be going somewhere that is going to ride the turbulence. Well,

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Speaker 1: so for me, it's my thesis on bitcoin has remained

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Speaker 1: the same, So I didn't touch anything there. My thesis

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Speaker 1: on the market over the long run that I'm invested

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Speaker 1: for is the same. So I've just left everything there,

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Speaker 1: and I'm already so defensive and have so much in

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Speaker 1: government debt that I left that there. But for me,

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Speaker 1: most of that stuff is really short term because I'm

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Speaker 1: building my own company. So my big concern is always

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Speaker 1: having your capital tied up somewhere. So right now, I

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Speaker 1: would tell people to make sure that you can move

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Speaker 1: at a moment's notice, that you've got enough capital that

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Speaker 1: you can deploy that if something really gnarly happens, like

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Speaker 1: if we go into a proper global recession, you want

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Speaker 1: to have enough access to capital that you don't have

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Speaker 1: to worry about your lifestyle for years and years and

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Speaker 1: years and you want to be able to if you

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Speaker 1: see like a real opportunity, like, for instance, if AI

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Speaker 1: and robotics just absolutely got hammered, I'd want to be

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Speaker 1: able to get into those in a super broad way,

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Speaker 1: very diversified across the sector, because I have no idea

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Speaker 1: who's going to win. But my thesis about the future

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Speaker 1: is so aggressively clear.

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Speaker 3: I could be wrong, obviously.

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Speaker 1: But it's so clear to me what the next call

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Speaker 1: it five to seven years is going to look like

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Speaker 1: that if I saw that segment depressed, then I'd be

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Speaker 1: pretty eager to get in at a discount.

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Speaker 2: I love AI and bitcoin, and we are going to

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Speaker 2: dive into those two topics for sure, because we're gonna

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Speaker 2: have a big conversation around that and what the next

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Speaker 2: five to seven years looks like for sure. But what

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Speaker 2: I heard you saying was number one for your current position,

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Speaker 2: So you have a famously sold quest nutrition for whatever

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Speaker 2: billion dollar deal that was, and so you're in more

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Speaker 2: of a defensive state for sure. However, I would add

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Speaker 2: on too that that regardless of what state you're in,

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Speaker 2: even if you're still trying to make your money, I

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Speaker 2: would listen to what you said, which is you're focused

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Speaker 2: on your businesses because that's where you make your money,

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Speaker 2: and then you're trying to defend and keep the capital

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Speaker 2: that you have. And so I think people that are

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Speaker 2: thinking about the short term, trying to trade that to

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Speaker 2: make more money, you're probably gonna end up on the

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Speaker 2: wrong side of the timing.

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Speaker 1: Yeah, And I mean, look, you know this better than

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Speaker 1: I do, but I would be so curious. I've heard

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Speaker 1: a data point that rings so true to me, which

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Speaker 1: is that something and this is for sure true in

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Speaker 1: the crypto world, five percent of the walllet's make ninety

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Speaker 1: five percent of the games. So it's like there are

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Speaker 1: people that they're in those WhatsApp and signal groups. They're

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Speaker 1: betting on culture. They know how much they can influence

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Speaker 1: said culture, and they win and basically everybody else loses.

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Speaker 1: I'm just not that that game, to me is so crazy.

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Speaker 1: So I get I'm a very particular flavor of person

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Speaker 1: who talks about the market, but all the betting, all

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Speaker 1: the gambling, that stuff, to me is like a major turnoff.

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Speaker 3: Yeah.

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Speaker 2: Yeah, And unfortunately that's what the crypto space has turned into.

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Speaker 2: I mean, meme stocks are jokes, right, and so it's

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Speaker 2: turned into a cryptocus you know at this point literally yes,

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Speaker 2: literally jokes aggressively agree with that. Yeah, sad story. Somebody

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Speaker 2: who was in one of my training programs. I'd consider

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Speaker 2: him a friend.

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Speaker 3: Now.

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Speaker 2: He had sort of lost a lot in the crypto space,

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Speaker 2: decided he was going to go all in bitcoin only

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Speaker 2: from here on out, built up a pretty big personal brand,

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Speaker 2: made a lot of money, did pretty good, had about

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Speaker 2: six million dollars in bitcoin. He's young, in his late twenties.

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Speaker 2: The crypto thing kind of called again. He started pumping.

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Speaker 2: He started a crypto trading group. Uh huh. He made

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Speaker 2: a lot of money, twelve thousand dollars memberships for he

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Speaker 2: sold like two nre people made a couple of million

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Speaker 2: bucks selling memberships, but they all lost a lot of money.

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Speaker 3: So then he started a meme trading group. Oh god.

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Speaker 3: And it was about three weeks ago.

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Speaker 2: He messaged me, sent me a text message and he said, Hey, Mark,

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Speaker 2: can we talk? I messed up really bad and I

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Speaker 2: need to talk because I have this famous story of

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Speaker 2: kind of losing everything in two thousand and eight.

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Speaker 3: And uh.

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Speaker 2: I got on the phone with him and he's like, man,

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Speaker 2: I chased the memes all the way to the bottom

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Speaker 2: and I lost all my money six millions US and

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Speaker 2: not only that, but everybody that was paying him to

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Speaker 2: be in that meat trading group as well.

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Speaker 3: So anyway, I.

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Speaker 2: Want to dive deeper into tariff. So I do want

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Speaker 2: to get into bitcoin AI. We're gonna have a lot

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Speaker 2: of fun with that. But if we talk about tariffs,

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Speaker 2: like I said, you've been all over it. It's the talk

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Speaker 2: of the talk of the town, if you will, all

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Speaker 2: over the news. But you talked about like Trump's tariff strategy.

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Speaker 2: Now a lot of people actually let me start with this.

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Speaker 2: You said that, I think on your intro you said

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Speaker 2: that nobody has any idea what's going on or what's

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Speaker 2: going to happen.

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Speaker 1: Yeah, I don't think anybody can accurately predict how this

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Speaker 1: is going to play out.

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Speaker 3: People f thess and that's good.

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Speaker 2: So certainly, in a complex system, the lava unintended consequences

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Speaker 2: is going to kick in. And so you start trying

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Speaker 2: to play with a couple pieces of a complex system,

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Speaker 2: and we have multiple systems together, certainly the unintended consequences

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Speaker 2: will win. But the narrative seems to be with mainstream

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Speaker 2: media that Trump and his team are a bunch of

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Speaker 2: buffoons and have no idea what they're doing.

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Speaker 1: Yeah, yeah, I mean listen, at the end of this

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Speaker 1: half the world's going to look like morons and the

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Speaker 1: other half is going through have been right to some degree,

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Speaker 1: but I don't think anybody right now should have the

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Speaker 1: degree of confidence that I see people putting forward. Trump

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Speaker 1: really is the right way to think of him is

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Speaker 1: he is the CEO of America and he's he's going

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Speaker 1: for Mount Rushmore, whether it's going to work or not.

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Speaker 1: I legitimately have no idea. I can articulate a very kind,

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Speaker 1: generous read on what he's doing, and I pay a

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Speaker 1: lot more attention to Scott Bessen and Lutnik than I

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Speaker 1: do to Trump. Trump is a chaos agent. Maybe the

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Speaker 1: chaos is exactly what the system needs right now. But

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Speaker 1: if you really want to understand again whether they're right

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Speaker 1: or not, they have a very easy to follow string

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Speaker 1: of logic, and it just becomes a question to what

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Speaker 1: you were saying, cool your first sort of consequences, Yeah,

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Speaker 1: there's a chance that those will play out just like

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Speaker 1: you're saying. The bad news is this is an insanely

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Speaker 1: complicated system where egos of other nations are getting involved.

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Speaker 1: This is like a huge gamble you're playing in with

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Speaker 1: the setup of Thucidides trap, so it's UV China. You're

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Speaker 1: fighting for the whole world at a time where Breton

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Speaker 1: Woods is dead, so you've got to come up with

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Speaker 1: a whole new monetary system. And Trump is like pulled

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Speaker 1: the pin out of the grenade and tossed it and

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Speaker 1: has gone, Okay, this is going to break the mold,

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Speaker 1: and I've got to get everybody out of that mold

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Speaker 1: so that I can move them into something new. And

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Speaker 1: I'm perfectly willing to believe that they have a vision

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Speaker 1: for what that's something new is they've articulated it. There's

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Speaker 1: probably the part they're saying, and then there's my mind

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Speaker 1: read about the part they're not saying, which we'll see

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Speaker 1: if I end up being right about it. And for

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Speaker 1: people that don't know me, I am not emotionally invested

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Speaker 1: in being right. I am only interested the only way

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Speaker 1: to make sense of all the words coming out of

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Speaker 1: my mouth are I am trying to accurately map the

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Speaker 1: way the world works and so where it's going. Yeah, well,

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Speaker 1: so if you know how the world works, then you

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Speaker 1: have a sense where it's going. If you do not

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Speaker 1: understand how the world actually works, you're never going to

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Speaker 1: be able to figure out where this is going. I

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Speaker 1: try to follow everything from a cause and effects standpoint,

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Speaker 1: so I will routinely have people interface with me as

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Speaker 1: if I'm saying Trump is right, he has to do this,

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Speaker 1: this is wonderful, it's going to work. I'm not at

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Speaker 1: all saying that. I'm saying this is the logic of

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Speaker 1: what they're laying out. This might be a hidden layer,

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Speaker 1: and if these things are accurate, it should play out

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Speaker 1: like this. And now, like everybody, I'm just gonna watch

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Speaker 1: and see if my mental map is accurate. I've already

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Speaker 1: explained what I'm actually doing with my money, so people

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Speaker 1: don't need to guess about what bags I'm pumping or

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Speaker 1: anything like that. I'm just I'm trying to mentally map

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Speaker 1: the world and see if I end up being accurate

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Speaker 1: not so I can feel good about being right, so

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Speaker 1: I can say, cool, this map of the world of

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Speaker 1: this moment had a high degree of predictive validity.

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Speaker 3: That's it. That's all I'm going for.

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Speaker 1: So yeah, I think that this system is so complicated.

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Speaker 1: They're running what I call the shoot me in the

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Speaker 1: ear bro strategy, where it's like laying that Oh my god.

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Speaker 1: So when Trump first got shot in the ear, somebody

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Speaker 1: who I know and respect said he probably just faked

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Speaker 1: it and he was just doing it for attention, and

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Speaker 1: I was like, hold on, you actually think that. He

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Speaker 1: said to somebody, go ahead, shoot this off my head.

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Speaker 3: Sure, graize my ear.

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Speaker 1: That's so dangerous, there's no way. Yeah, this feels like that.

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Speaker 1: It's so high risk what he's doing. If he pulls

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Speaker 1: it off and this ends well, and we completely reorganize

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Speaker 1: the world order in America's favor, and we now get

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Speaker 1: to take advantage of being the world's either first or

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Speaker 1: second largest economy, depending on who you speak to, and

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Speaker 1: we get all that benefit resounding to the US. We

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Speaker 1: get out of all of the problems that we have

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Speaker 1: with China controlling all of our manufacturing.

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Speaker 3: That is crazy.

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Speaker 1: We are in a cold war with very high potential

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Speaker 1: for being a kinetic war with China. They can't control

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Speaker 1: your manufacturing, so that has to change. But the way

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Speaker 1: that he's going about it with the just hyper aggressive,

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Speaker 1: ultra fast.

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Speaker 3: Is shoot me in the ear.

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Speaker 1: And so if nick him and he just bleeds a

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Speaker 1: little and is like the world's trying to kill me,

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Speaker 1: and now everybody rallies around him. Amazing, but an inch

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Speaker 1: in either Russian and he's dead.

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Speaker 3: Yeah.

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Speaker 1: So this is when I really go prognostication mode. I'm like,

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Speaker 1: it starts working, but not in time for the midterms.

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Speaker 1: He loses the midterms, it flips, they no longer control

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Speaker 1: the House, he becomes lame duck, and Republicans.

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Speaker 3: Are out in four years.

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Speaker 1: That's like if I were gonna, say fifty one forty nine,

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Speaker 1: Because again, I really do feel like I'm guessing it's

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Speaker 1: just such a complicated system that would.

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Speaker 3: Be I would give the edge to that.

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Speaker 2: It just won't work in time, even if ultimately it

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Speaker 2: would have one thing that I've seen. So the last

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Speaker 2: time we had this big of a drawdown in the

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Speaker 2: markets was in twenty twenty two October twenty twenty two,

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Speaker 2: when Biden was president, and nobody was saying it was

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Speaker 2: all Biden's fault. Granted he didn't go throw a grenade

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Speaker 2: to your point or the illustration that he gave. But

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Speaker 2: today this morning in the gym, I saw in the news, right,

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Speaker 2: it's just like Trump Trump, Trump, Trump, Trump, and it's

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Speaker 2: all his fault.

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Speaker 3: Yeah, and a lot of it is heated.

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Speaker 2: Did move by executive order, so a lot of it

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Speaker 2: is sort of on him. But if they're going to

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Speaker 2: assign this whole crash to him, if he pulls it off,

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Speaker 2: they're gonna forgive him all the credit for it, and

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Speaker 2: they won't.

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Speaker 3: So brace that and they won't.

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Speaker 2: But I want to go back you said that the

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Speaker 2: risk is so high. I want to put a pin

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Speaker 2: in that and come back to that. But just going

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Speaker 2: back to we do have no idea of the future.

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Speaker 2: Tomorrow is not guaranteed for any of us. Certainly, it's

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Speaker 2: a complex system. But I want to talk about the

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Speaker 2: competency of the people. So I mean, I saw I've

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Speaker 2: seen many interviews of Howard Lutnik. I don't know if

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Speaker 2: you saw the one of them on the all in Pod. Yeah,

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Speaker 2: I mean, very smart, very capable, the way that he's

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Speaker 2: looking at things, like he said, like you hear about

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Speaker 2: the debt of the country thirty six trillion, you're about

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Speaker 2: the deficit of the country. You hear about the income

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Speaker 2: of the expense of the country. But as a business owner,

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Speaker 2: there's a number that's glaring, that's missing out of that,

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Speaker 2: what about the balance sheet and like just hearing like

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Speaker 2: an approach like that in a business mind number one.

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Speaker 2: But then you have Bescent and you said you listened

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Speaker 2: to him quite a bit a pretty good interview on

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Speaker 2: Tucker recently.

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Speaker 3: And I see a lot.

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Speaker 2: Of people on Twitter and YouTube, people that I respect,

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Speaker 2: people that I know, and people that I align with

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Speaker 2: their worldview, and they're just telling, Oh, this guy's making

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Speaker 2: all these mistakes. He didn't understand this. He didn't understand that.

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Speaker 2: It's like, yeah, you're not smarter than Scott Piscent. So

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Speaker 2: Scott Pisent's pedigree, right, he worked for the goat the

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Speaker 2: greatest of all time, Druck and Miller, the second greatest

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Speaker 2: of all time Soros.

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Speaker 3: But specifically what he did.

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Speaker 2: Working for those guys, right, specifically, what they did was

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Speaker 2: take down countries and manipulate currencies.

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Speaker 3: That's what they did, dude.

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Speaker 1: Take down the Bank of England. The Bank of England,

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Speaker 1: not not a rando like small country that's hyperinflating their currency.

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Speaker 2: The Bank of England. It's pretty crazy, the Bank of England.

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Speaker 2: So basically he was hired to do the opposite of that.

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Speaker 2: So understanding what makes the bank of England vulnerable? What

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Speaker 2: makes other they've taken down many other country since the

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Speaker 2: Bank of England, what makes those countries vulnerable being over

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Speaker 2: leveraged to being off sides? And now he's been hired,

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Speaker 2: as he said on Tucker, like to sell dollars around

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Speaker 2: the world. Right, So he understand that part. So what

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Speaker 2: could we do to do the opposite of that? But

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Speaker 2: more specifically, I.

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Speaker 3: Mean, you took down bank in England.

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Speaker 2: But China is a pretty big thing game, if we

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Speaker 2: would call it that, right, So understanding what makes the

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Speaker 2: US dangerous and how can we derist the US? But

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Speaker 2: then specifically, what are China's leverage points? And and you know,

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Speaker 2: he said on Tucker a couple of times that he

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Speaker 2: sees China inter recession depression. Maybe we can box them in.

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Speaker 2: We have no idea, But to say that he doesn't

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Speaker 2: know what he's doing would be I think a mistake.

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Speaker 3: Aggressively aggressive.

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Speaker 1: Yeah, I mean, listen, I think that if you were

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Speaker 1: going to have anybody run the playbook that they're running,

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Speaker 1: you've got some of the greatest capital allocators on planet

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Speaker 1: Earth who have made unimaginable amounts of money. By saying

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Speaker 1: I understand how global economics works, and I'm going to

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Speaker 1: bet hugely that I'm accurate. And they've won and so

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Speaker 1: over and over and over. So many of these guys

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Speaker 1: that I look at that are just like the world's

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Speaker 1: greatest capital allocators, I'm like, huh, They're all like this

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Speaker 1: could work.

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Speaker 3: Listen, take Ray Dalio.

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Speaker 1: I think you and I may see him a little

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Speaker 1: bit differently, but nonetheless, Ray has made just unimaginable amounts

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Speaker 1: of money doing this game. Has this crazy historical perspective,

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Speaker 1: and he's very much in my camp, which is, you

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Speaker 1: have to do something because of what's going on with China,

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Speaker 1: you have to do something because of the debt, Like

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Speaker 1: these things cannot stand. So given that, given that, in

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Speaker 1: action is not an option, right, and that's what I

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Speaker 1: want to ask, then it's like, what do you do now? Again,

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Speaker 1: if you listen to Trump, it's like, that's way too crazy.

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Speaker 1: I don't want to do that. And maybe there is

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Speaker 1: some of that. Maybe he's doing way too much Art

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Speaker 1: of the Deal all that stuff, and he's pissing off

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Speaker 1: all of our allies and they're going to be very

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Speaker 1: necessary for us to weather this storm. Well, but when

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Speaker 1: you listen to Lutnik and Bessen. It's like, Okay, I

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Speaker 1: at least understand what you guys are trying to do. Yeah,

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Speaker 1: so some of the early signs are there that again,

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Speaker 1: if you can graze the ear and not.

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Speaker 2: Shoot the patient in the head, it could work.

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Speaker 3: But we'll see.

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Speaker 1: And to be very specific, the big thing I would

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Speaker 1: think people should look at right now if you really

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Speaker 1: want to understand part of the game they're playing, whether

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Speaker 1: this is going to work because of how much of

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Speaker 1: the debt has to be refinanced. You've got to get

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Speaker 1: the yield on the tenure treasury down, and they're doing

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Speaker 1: it now. The question is to like the method by

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Speaker 1: which they're doing it. That's a different question. But they're

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Speaker 1: already driving it down.

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Speaker 2: They could keep loading the front end like Janet Yellen did.

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Speaker 2: And just for comparison, Janet Yellen was a academic, a

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Speaker 2: Ckensian academic, an mmtre again back to descent, an academic

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Speaker 2: like this MMT freaks me right, So she's an MMT academic.

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Speaker 2: Percent literally ran the playbook for the two greatest investors

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Speaker 2: of all time. And you said we're successful. Stanley DRUGA

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Speaker 2: Miller is the goat because thirty years without a loss,

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Speaker 2: it's crazy. Without a loss, crazy, it's crazy. But back

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Speaker 2: to the risk, So the risk is really high to

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Speaker 2: your point, you get my ear who take my head out?

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Speaker 2: But to your point, in action really is an option

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Speaker 2: either And percent sort of made that statement. So he said, like,

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Speaker 2: the top ten percent owns eighty eight percent of equities,

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Speaker 2: eighty eight percent, forty percent owns twelve percent of the market,

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Speaker 2: and the bottom fifty are in debt, so it's not

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Speaker 2: working for them, and so like, we have this massive

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Speaker 2: risk if you don't do something to debt all these things.

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Speaker 2: So I think that's interesting. I think at the time

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Speaker 2: of this recording, which is the seventh, the latest I

438
00:20:51,960 --> 00:20:55,600
Speaker 2: saw already eighty countries have already come together saying they

439
00:20:55,600 --> 00:20:58,000
Speaker 2: want to strike a deal. That's what the latest I

440
00:20:58,040 --> 00:21:01,600
Speaker 2: saw today, even the you now, so they're ready to

441
00:21:01,640 --> 00:21:04,000
Speaker 2: strike a deal and go go down to zero. So

442
00:21:04,200 --> 00:21:07,600
Speaker 2: it seems like it's coming together pretty quickly. Probably not

443
00:21:07,640 --> 00:21:08,080
Speaker 2: for China.

444
00:21:08,720 --> 00:21:12,320
Speaker 1: Yeah, China's making very different noises with their face, so

445
00:21:13,240 --> 00:21:13,920
Speaker 1: we'll see.

446
00:21:13,680 --> 00:21:14,480
Speaker 3: How it plays out.

447
00:21:14,520 --> 00:21:16,359
Speaker 1: But yeah, I mean there, look, how much of this

448
00:21:16,520 --> 00:21:18,439
Speaker 1: is hear say, how much of it's real? I have

449
00:21:18,560 --> 00:21:21,760
Speaker 1: not seen coming from China this directly, but I've heard

450
00:21:21,800 --> 00:21:24,400
Speaker 1: about it indirectly that they're prepared to.

451
00:21:24,359 --> 00:21:25,080
Speaker 3: Go all the way.

452
00:21:25,280 --> 00:21:27,639
Speaker 1: Yeah, where it's like, okay, you guys don't want to

453
00:21:27,640 --> 00:21:30,040
Speaker 1: play ball. Not only are we going to do retaliatory

454
00:21:30,320 --> 00:21:34,680
Speaker 1: strikes with tariffs, but we're now going to openly sell

455
00:21:34,720 --> 00:21:37,480
Speaker 1: your IP again. I don't know that's true. I want

456
00:21:37,480 --> 00:21:40,040
Speaker 1: to be very clear. I am unfortunately right now spreading rumors.

457
00:21:40,359 --> 00:21:42,600
Speaker 1: But that is certainly a weapon that they have in

458
00:21:42,640 --> 00:21:45,520
Speaker 1: their toolkit that a lot of other countries don't. The

459
00:21:45,560 --> 00:21:47,919
Speaker 1: thing that they've gotten extremely good at. And this is

460
00:21:47,960 --> 00:21:50,960
Speaker 1: not derogatory. They've gotten very good at going cool. That's

461
00:21:50,960 --> 00:21:52,560
Speaker 1: how it's done. Now we're going to show you how

462
00:21:52,560 --> 00:21:55,880
Speaker 1: to do it at scale, hyper efficiently. And so they've

463
00:21:55,920 --> 00:21:59,880
Speaker 1: gotten just ridiculously good at that. And so they do

464
00:22:00,240 --> 00:22:02,280
Speaker 1: have and this this goes back to this whole idea

465
00:22:02,280 --> 00:22:05,920
Speaker 1: of choke points. They have a choke point for us

466
00:22:06,000 --> 00:22:09,080
Speaker 1: on manufacturing. They have because of that, they have a

467
00:22:09,160 --> 00:22:12,680
Speaker 1: choke point on us from an IP perspective, and.

468
00:22:14,119 --> 00:22:15,840
Speaker 3: You can't let those play out negatively.

469
00:22:15,880 --> 00:22:18,520
Speaker 1: And this is exactly how things escalate. This is how

470
00:22:18,560 --> 00:22:22,399
Speaker 1: you go from a cold war to something that threatens

471
00:22:22,440 --> 00:22:24,160
Speaker 1: to be kinetic really fast, because if.

472
00:22:24,040 --> 00:22:27,600
Speaker 2: They do that with our IP we have to get aggressive.

473
00:22:27,680 --> 00:22:27,960
Speaker 3: Yeah.

474
00:22:28,200 --> 00:22:30,639
Speaker 2: So I mean there's there's Taiwan on the table, you know,

475
00:22:30,720 --> 00:22:35,879
Speaker 2: potentially taking Taiwan. There's dumping US treasuries, which is another

476
00:22:35,920 --> 00:22:39,199
Speaker 2: option would force the QUI. So there's a lot of

477
00:22:39,200 --> 00:22:41,080
Speaker 2: things that China could do. But I did see today

478
00:22:41,119 --> 00:22:44,479
Speaker 2: also that Trump said that I think by the tenth

479
00:22:44,920 --> 00:22:48,479
Speaker 2: that he's going to increase their tariff's another fifty percent, yep, Like,

480
00:22:48,520 --> 00:22:49,040
Speaker 2: so yeah.

481
00:22:48,880 --> 00:22:51,719
Speaker 1: It could escalate, but that's retaliation for the retaliation, right,

482
00:22:51,760 --> 00:22:53,879
Speaker 1: So we'll see how that all plays out. But China

483
00:22:53,960 --> 00:22:57,320
Speaker 1: is not being conciliatory at all, and so this is

484
00:22:57,320 --> 00:22:59,479
Speaker 1: the part that worries me. So you have the two

485
00:22:59,520 --> 00:23:02,280
Speaker 1: players on the board that matter. You have the US

486
00:23:02,320 --> 00:23:05,680
Speaker 1: and China that are being escalatory with each other, and

487
00:23:06,080 --> 00:23:08,720
Speaker 1: now they're going to be fighting for allies. And so

488
00:23:09,640 --> 00:23:12,800
Speaker 1: you hear Elon making noises about, hey, we should basically

489
00:23:12,800 --> 00:23:14,359
Speaker 1: have free trade with Europe. We should be able to

490
00:23:14,359 --> 00:23:16,800
Speaker 1: go back and forth. I mean as if America and

491
00:23:16,880 --> 00:23:19,320
Speaker 1: the EU were all part of the European Union and

492
00:23:19,400 --> 00:23:23,600
Speaker 1: let anybody go where anybody wants. So I get where

493
00:23:23,600 --> 00:23:26,280
Speaker 1: he's coming from, and he sees America and Europe is

494
00:23:26,320 --> 00:23:28,720
Speaker 1: like a super ally, because then we really if we

495
00:23:28,720 --> 00:23:31,639
Speaker 1: were truly locks up with Europe, which we are aggressively not,

496
00:23:32,200 --> 00:23:34,800
Speaker 1: but if we were truly in lockstep with Europe, now

497
00:23:34,840 --> 00:23:38,000
Speaker 1: we've got enough economic might that we could really stand

498
00:23:38,119 --> 00:23:40,760
Speaker 1: up to China economically.

499
00:23:41,320 --> 00:23:44,760
Speaker 2: But we'll see, yeah, lines will be drawn.

500
00:23:45,160 --> 00:23:45,920
Speaker 3: I think.

501
00:23:46,160 --> 00:23:48,760
Speaker 2: I think that's looking only at one component of the board.

502
00:23:48,760 --> 00:23:50,359
Speaker 2: If you look at other components of the board. So

503
00:23:50,400 --> 00:23:54,080
Speaker 2: it's not just the tariffs, right, it's making it making

504
00:23:54,119 --> 00:23:58,199
Speaker 2: America easier to invest in, so strengthening the dollar and

505
00:23:58,240 --> 00:24:02,400
Speaker 2: the treasury asset number one. If China, if Besson thinks

506
00:24:02,400 --> 00:24:05,480
Speaker 2: that China's boxed in, potentially in the yuan is going

507
00:24:05,560 --> 00:24:07,320
Speaker 2: to have to be debased in order to keep up

508
00:24:07,359 --> 00:24:09,760
Speaker 2: with this, China is less investible and a lot of

509
00:24:09,760 --> 00:24:12,400
Speaker 2: that comes back to the US. But also when you're

510
00:24:12,400 --> 00:24:16,479
Speaker 2: adding the massive tax cuts, the spending cuts, and then

511
00:24:16,520 --> 00:24:22,560
Speaker 2: the massive deregulation cuts, I think, and and then sort

512
00:24:22,560 --> 00:24:26,359
Speaker 2: of the drill baby drill energy dominance narrative, those are

513
00:24:26,359 --> 00:24:28,000
Speaker 2: other pieces of the board that I think weigh in.

514
00:24:28,119 --> 00:24:30,480
Speaker 2: But but we'll see, we're just speculating, you know, speculating

515
00:24:30,520 --> 00:24:33,840
Speaker 2: at this point, that's all we can do. That's that's

516
00:24:33,840 --> 00:24:35,359
Speaker 2: the fun, right, playing playing that.

517
00:24:35,800 --> 00:24:36,600
Speaker 3: But I think.

518
00:24:39,800 --> 00:24:41,600
Speaker 2: History books are going to be talked about this period

519
00:24:41,600 --> 00:24:42,640
Speaker 2: of time, that is for sure.

520
00:24:43,119 --> 00:24:44,640
Speaker 3: So we get the benefit of living through that.

521
00:24:46,200 --> 00:24:49,360
Speaker 1: Is it the benefit I'd really like to learn from it,

522
00:24:49,520 --> 00:24:52,320
Speaker 1: that is for sure. So moving forward I will be

523
00:24:52,440 --> 00:24:56,639
Speaker 1: armed with a lot more information. But yeah, there is

524
00:24:56,680 --> 00:25:02,480
Speaker 1: a supposed Chinese curse. May you live in interesting times,

525
00:25:03,080 --> 00:25:07,119
Speaker 1: and we live in interesting times, and humans don't like

526
00:25:07,200 --> 00:25:10,479
Speaker 1: change in the volatility, there's certainly opportunity, but it will

527
00:25:10,520 --> 00:25:14,159
Speaker 1: also the average person if it goes south. The average

528
00:25:14,200 --> 00:25:15,680
Speaker 1: person just gets cloppered.

529
00:25:16,040 --> 00:25:17,840
Speaker 2: Well, not the fifty percent of people who own nothing.

530
00:25:18,080 --> 00:25:20,280
Speaker 1: Now, it'll be worse for them for sure, because they

531
00:25:20,280 --> 00:25:22,960
Speaker 1: have no protective mechanism. So the problem is when you

532
00:25:23,000 --> 00:25:26,320
Speaker 1: were saying that we'd have to turn to QE, the

533
00:25:26,359 --> 00:25:31,280
Speaker 1: good news is that would make the debt manageable. So you,

534
00:25:31,440 --> 00:25:35,800
Speaker 1: in my words, you steal from all Americans, which just

535
00:25:35,880 --> 00:25:39,200
Speaker 1: absolutely decimates the poor and working class. But you steal

536
00:25:39,240 --> 00:25:43,920
Speaker 1: from everybody by inflating the money supply, and now that

537
00:25:43,960 --> 00:25:46,360
Speaker 1: makes the debt worth far less and it becomes far

538
00:25:46,440 --> 00:25:49,439
Speaker 1: easier to pay off if you can get some economic growth.

539
00:25:49,680 --> 00:25:51,480
Speaker 1: So if you can both weaken the dollar keep it

540
00:25:51,480 --> 00:25:55,399
Speaker 1: the reserve currency, and through deregulation unlock GDP growth, you

541
00:25:55,440 --> 00:25:57,879
Speaker 1: actually can pull this off. But if you're doing it

542
00:25:57,920 --> 00:26:02,920
Speaker 1: through QE, then you're going to exis disacerbate the difference

543
00:26:02,960 --> 00:26:05,400
Speaker 1: between the rich and the poor, and that will get

544
00:26:05,480 --> 00:26:08,840
Speaker 1: ugly and it really does become a let them meat

545
00:26:08,840 --> 00:26:11,239
Speaker 1: flat screens moment, where sure people have a lot of

546
00:26:11,320 --> 00:26:17,399
Speaker 1: cheap stuff, but that's how revolutions start. So yeah, that

547
00:26:17,760 --> 00:26:19,479
Speaker 1: is the one that I think is most immoral. But

548
00:26:19,600 --> 00:26:22,400
Speaker 1: there's a couple thoughts on that, like one Bescent talked

549
00:26:22,400 --> 00:26:24,400
Speaker 1: about on Tucker How last year twenty twenty four.

550
00:26:24,400 --> 00:26:26,320
Speaker 3: Summer of twenty twenty four, we had two records set.

551
00:26:26,880 --> 00:26:29,680
Speaker 2: Number one record was more Americans busy in Europe in

552
00:26:29,720 --> 00:26:33,040
Speaker 2: the summer than on record, But we also had more

553
00:26:33,080 --> 00:26:36,760
Speaker 2: Americans going to food banks on record at the same time.

554
00:26:37,520 --> 00:26:39,720
Speaker 2: And so that's sort of that divide if you will,

555
00:26:39,840 --> 00:26:43,560
Speaker 2: And unfortunately to your point, as the debasement continues, then

556
00:26:43,560 --> 00:26:45,679
Speaker 2: your wages buy less and less than more people go

557
00:26:45,680 --> 00:26:46,320
Speaker 2: to the food bank.

558
00:26:46,640 --> 00:26:49,720
Speaker 1: Yeah, and I imagine your audience completely understands that. The

559
00:26:49,880 --> 00:26:54,639
Speaker 1: problem is that the average American doesn't. Yeah, so they

560
00:26:54,800 --> 00:26:58,800
Speaker 1: just do not understand how money actually works. They don't

561
00:26:58,880 --> 00:27:02,320
Speaker 1: understand the dangers of debt, they don't understand how it

562
00:27:02,359 --> 00:27:04,960
Speaker 1: could possibly be bad that the government is giving them money,

563
00:27:06,160 --> 00:27:08,160
Speaker 1: and so we end up in this death spiral where

564
00:27:08,160 --> 00:27:10,359
Speaker 1: they can tell something's wrong, they can tell they're getting screwed,

565
00:27:10,359 --> 00:27:13,800
Speaker 1: but they don't understand how. So this has been the

566
00:27:13,880 --> 00:27:15,720
Speaker 1: conundrum of the last three years of my life is

567
00:27:15,760 --> 00:27:18,800
Speaker 1: as I've learned about how money actually works. Because when

568
00:27:18,840 --> 00:27:22,040
Speaker 1: COVID hit, I thought, Okay, I've worked in the inner cities.

569
00:27:22,160 --> 00:27:24,080
Speaker 3: I had a thousand employees.

570
00:27:23,600 --> 00:27:27,760
Speaker 1: That grew up like hard hard heart, and when COVID

571
00:27:27,760 --> 00:27:29,399
Speaker 1: lockdowns happened, I thought, they're all going to lose their

572
00:27:29,480 --> 00:27:31,760
Speaker 1: jobs and they're just going to be toast. So I

573
00:27:31,760 --> 00:27:34,840
Speaker 1: started making financial content to help them out and to

574
00:27:35,440 --> 00:27:38,080
Speaker 1: hope that I could give them some understanding of how

575
00:27:38,080 --> 00:27:41,240
Speaker 1: they're going to weather this storm. And as I started,

576
00:27:41,440 --> 00:27:43,199
Speaker 1: because I've always been good at making money, but not

577
00:27:43,240 --> 00:27:46,560
Speaker 1: investing money, and so I wanted to learn about investing

578
00:27:46,600 --> 00:27:48,040
Speaker 1: so I could help them out. And as I started

579
00:27:48,080 --> 00:27:50,159
Speaker 1: learning about it, I was like, wait, a second, like

580
00:27:50,240 --> 00:27:52,280
Speaker 1: this does not work the way that I thought it did,

581
00:27:53,200 --> 00:27:57,560
Speaker 1: and realized, oh my god, that printing money. If I

582
00:27:57,600 --> 00:27:59,720
Speaker 1: was going to oversimplify my own stance, would be printing

583
00:27:59,760 --> 00:28:03,400
Speaker 1: money is immoral and is exactly how the rich get

584
00:28:03,440 --> 00:28:05,360
Speaker 1: rich from the poor get poor. I understand it's more

585
00:28:05,359 --> 00:28:08,159
Speaker 1: complicated than that, but when you simplify something down to

586
00:28:08,200 --> 00:28:09,440
Speaker 1: its essence, there's a clarity.

587
00:28:09,600 --> 00:28:13,480
Speaker 2: Yeah, I want to we're gonna talk about that, We're

588
00:28:13,480 --> 00:28:15,520
Speaker 2: gonna talk about AI, We're gonna talk about bitcoin, which

589
00:28:15,560 --> 00:28:18,200
Speaker 2: I consider the cheat code today. But I want to

590
00:28:18,200 --> 00:28:20,080
Speaker 2: go back to kind of what you just talked about there,

591
00:28:20,240 --> 00:28:23,080
Speaker 2: and for a minute, I want to kind of go back.

592
00:28:23,760 --> 00:28:27,200
Speaker 2: You talked about scrounging and your couch cushions, so having

593
00:28:27,200 --> 00:28:30,320
Speaker 2: a billion dollar company and so what I see so

594
00:28:30,400 --> 00:28:32,120
Speaker 2: kind of going back to this sort of trade war

595
00:28:32,240 --> 00:28:35,920
Speaker 2: bringing back jobs, the tale of two Americans, if you will.

596
00:28:36,640 --> 00:28:39,800
Speaker 2: It's not just that the US offshort it's manufacturing base,

597
00:28:39,880 --> 00:28:43,240
Speaker 2: which it did, but those were low level jobs, and

598
00:28:43,280 --> 00:28:46,440
Speaker 2: so bringing back T shirts and sneakers to the US

599
00:28:46,440 --> 00:28:48,600
Speaker 2: for manufacturing is not an answer for that, right, So

600
00:28:48,720 --> 00:28:50,800
Speaker 2: nations have to grow their way out of it, and

601
00:28:50,840 --> 00:28:51,280
Speaker 2: we grew ight.

602
00:28:51,280 --> 00:28:51,760
Speaker 3: Away out of it.

603
00:28:51,800 --> 00:28:53,920
Speaker 2: Like technology takes low level tests, so we can work

604
00:28:53,960 --> 00:28:55,080
Speaker 2: on higher value tasks.

605
00:28:55,600 --> 00:28:57,400
Speaker 3: But it's more about moving from.

606
00:28:57,360 --> 00:29:01,000
Speaker 2: The industrial age to the information age. So, right, we

607
00:29:01,040 --> 00:29:04,880
Speaker 2: had those giant manufacturing facilities and everybody smart and dumb

608
00:29:04,880 --> 00:29:07,680
Speaker 2: worked equally on the assembly lines with this massive middle class.

609
00:29:07,720 --> 00:29:09,640
Speaker 2: But in the information age, now a person with a

610
00:29:09,720 --> 00:29:11,320
Speaker 2: laptop and AI.

611
00:29:11,400 --> 00:29:12,800
Speaker 3: Can create a billion dollar business.

612
00:29:12,800 --> 00:29:15,840
Speaker 2: I mean, we'll see that, right, And so then it's

613
00:29:15,880 --> 00:29:18,520
Speaker 2: like almost more like a meritocracy. So we have all

614
00:29:18,560 --> 00:29:22,280
Speaker 2: these people who were trained from an industrial school system

615
00:29:22,280 --> 00:29:25,360
Speaker 2: with an industrial mindset, but now they find themselves in

616
00:29:25,400 --> 00:29:27,720
Speaker 2: this information age, but they're not equipped with the mindset

617
00:29:27,800 --> 00:29:30,520
Speaker 2: or the tools in order to succeed in that world.

618
00:29:31,360 --> 00:29:34,280
Speaker 2: So they still think in terms of like just get

619
00:29:34,280 --> 00:29:35,880
Speaker 2: a job and that job will take care of me,

620
00:29:35,920 --> 00:29:38,280
Speaker 2: as opposed to I should learn, I should change my

621
00:29:38,320 --> 00:29:41,040
Speaker 2: mindset to learn skill sets and use those skill sets

622
00:29:41,080 --> 00:29:44,000
Speaker 2: to bring more value, to increase the money amount of

623
00:29:44,040 --> 00:29:46,080
Speaker 2: money I make, because we have make money and then

624
00:29:46,120 --> 00:29:50,000
Speaker 2: we have invest money. So I'm curious, I mean, your

625
00:29:50,040 --> 00:29:52,840
Speaker 2: own mindset shift. Right, going from the couch cushions to

626
00:29:52,840 --> 00:29:54,360
Speaker 2: your point to a billion dollar company, you had to

627
00:29:54,440 --> 00:29:56,920
Speaker 2: learn that model. And is that something that you're trying

628
00:29:56,960 --> 00:29:59,480
Speaker 2: to teach in this You said your workers right, trying

629
00:29:59,520 --> 00:30:00,960
Speaker 2: to kind of teach how this works. Are you trying

630
00:30:01,000 --> 00:30:04,120
Speaker 2: to kind of give them that mindset? Okay, so I

631
00:30:04,120 --> 00:30:07,320
Speaker 2: think you have to you have to face really two things.

632
00:30:08,720 --> 00:30:10,000
Speaker 2: I want to take a break real quick and just

633
00:30:10,040 --> 00:30:13,440
Speaker 2: say that there's only so much you can learn through videos. Yeah,

634
00:30:13,480 --> 00:30:15,920
Speaker 2: build your knowledge, build your skills, but you need to

635
00:30:15,920 --> 00:30:19,680
Speaker 2: build your relationships. Relationships plus skills equals money. So come

636
00:30:19,680 --> 00:30:22,480
Speaker 2: build your relationships and your knowledge at the Bitcoin Conference

637
00:30:22,520 --> 00:30:24,959
Speaker 2: May twenty seventh through twenty ninth in Las Vegas. I'm

638
00:30:25,000 --> 00:30:27,360
Speaker 2: gonna be there speaking for the fourth year in a row,

639
00:30:27,520 --> 00:30:32,240
Speaker 2: and lots of other people way bigger than me. Entertainment, politics, media, finance,

640
00:30:32,320 --> 00:30:34,720
Speaker 2: you name it, they'll be there. So come check it out.

641
00:30:34,960 --> 00:30:37,320
Speaker 2: Save some money with my code Mark Moss or I'll

642
00:30:37,320 --> 00:30:39,680
Speaker 2: put a link down below if you use my code

643
00:30:39,680 --> 00:30:41,760
Speaker 2: to save some money. I'm going to do a private

644
00:30:41,880 --> 00:30:44,440
Speaker 2: meetup just for you and some of my friends. So

645
00:30:44,840 --> 00:30:47,000
Speaker 2: let me know, use that code, save some money, send

646
00:30:47,000 --> 00:30:48,320
Speaker 2: me a message and.

647
00:30:48,200 --> 00:30:49,280
Speaker 3: We'll get you in the private meetup.

648
00:30:49,280 --> 00:30:51,640
Speaker 1: And I hope to see you in Las Vegas generational

649
00:30:51,640 --> 00:30:54,800
Speaker 1: poverty is a mindset problem. It's not a money problem.

650
00:30:54,960 --> 00:30:57,200
Speaker 1: I expect that to be very inflammatory. It is every

651
00:30:57,200 --> 00:30:59,720
Speaker 1: time I say it, but nonetheless, having seen it up close,

652
00:30:59,800 --> 00:31:01,720
Speaker 1: you realize, wait a second, this guy is smarter than me,

653
00:31:02,000 --> 00:31:05,360
Speaker 1: and he's going nowhere fast. So good hardware, bad software.

654
00:31:07,120 --> 00:31:11,880
Speaker 1: The really bad news is, while it is very possible

655
00:31:11,960 --> 00:31:15,200
Speaker 1: for somebody to change their mindset as an adult, I

656
00:31:16,200 --> 00:31:18,040
Speaker 1: ballpark it. This is not a real number, but this

657
00:31:18,200 --> 00:31:22,160
Speaker 1: is so directionally accurate that if people form their worldview

658
00:31:22,360 --> 00:31:24,920
Speaker 1: with this, it will have high predictive validity. Only two

659
00:31:24,920 --> 00:31:27,520
Speaker 1: percent of people are capable or willing, however you want

660
00:31:27,560 --> 00:31:30,440
Speaker 1: to say it, to change their mindset once they're an adult.

661
00:31:31,440 --> 00:31:36,200
Speaker 1: So I learned pretty quickly that I'm a filtering mechanism.

662
00:31:36,640 --> 00:31:39,080
Speaker 1: I've given up on changing adults that are in the

663
00:31:39,160 --> 00:31:41,840
Speaker 1: ninety eight percent. Maybe there will come somebody who's better

664
00:31:41,840 --> 00:31:44,880
Speaker 1: than me and they can do it, but I've really

665
00:31:44,880 --> 00:31:47,240
Speaker 1: really tried so long before there was a camera on me,

666
00:31:47,360 --> 00:31:50,960
Speaker 1: long before I thought about YouTube any of that. I

667
00:31:51,040 --> 00:31:52,840
Speaker 1: told my employees, I will come in early, I will

668
00:31:52,840 --> 00:31:54,760
Speaker 1: stay late. I will teach you anything that I know

669
00:31:54,840 --> 00:31:57,280
Speaker 1: about entrepreneurship because I want you to be here.

670
00:31:57,440 --> 00:31:57,560
Speaker 3: One.

671
00:31:57,600 --> 00:31:59,080
Speaker 1: I want you to be the best person you can

672
00:31:59,120 --> 00:32:01,400
Speaker 1: be that benefits me. But I want you to stay

673
00:32:01,400 --> 00:32:03,200
Speaker 1: here not because you feel forced. I want you to

674
00:32:03,200 --> 00:32:05,040
Speaker 1: stay here because you know I care more about your

675
00:32:05,040 --> 00:32:07,560
Speaker 1: future than your own mother. So started what I called

676
00:32:07,640 --> 00:32:11,320
Speaker 1: Quest University, and literally I taught them anything, to the

677
00:32:11,440 --> 00:32:14,360
Speaker 1: point that we had three of the people that the

678
00:32:14,400 --> 00:32:17,840
Speaker 1: sort of informal students that came through that started competitive

679
00:32:17,920 --> 00:32:22,440
Speaker 1: nutrition companies. So I was like, I will tell you anything, and.

680
00:32:22,520 --> 00:32:28,000
Speaker 2: Three students started competing company out of how many oh god, thousands, no,

681
00:32:28,080 --> 00:32:30,640
Speaker 2: not on hundreds, but we hundreds, hundreds for sure.

682
00:32:31,120 --> 00:32:35,480
Speaker 1: And in all of that, there was also two students

683
00:32:35,560 --> 00:32:38,719
Speaker 1: that were in it, and one of them punched another

684
00:32:38,760 --> 00:32:42,800
Speaker 1: one in the face because he said, you've changed, You've

685
00:32:42,840 --> 00:32:48,000
Speaker 1: started reading, And I was just like, wow, So I'm

686
00:32:48,080 --> 00:32:55,000
Speaker 1: up against like really stupid cultural programming and the people

687
00:32:55,040 --> 00:32:59,280
Speaker 1: that actually did something, the two percent have some obviously

688
00:32:59,280 --> 00:33:02,200
Speaker 1: not all, but some have gone on to start companies

689
00:33:02,200 --> 00:33:04,240
Speaker 1: that are still running today and I'll get text from

690
00:33:04,240 --> 00:33:06,640
Speaker 1: them and updates. I'm just like, this is so gratifying.

691
00:33:07,040 --> 00:33:10,000
Speaker 1: And then I remember how many people that I tried

692
00:33:10,040 --> 00:33:13,200
Speaker 1: to explain this stuff to and walk them through. So anyway,

693
00:33:13,240 --> 00:33:15,760
Speaker 1: that becomes a genesis of the YouTube channel, and I'm like, okay,

694
00:33:15,800 --> 00:33:18,880
Speaker 1: I want to impart this mindset advice and again realize

695
00:33:18,960 --> 00:33:21,000
Speaker 1: I'm the bat symbol in the sky. I throw it

696
00:33:21,080 --> 00:33:25,440
Speaker 1: up and the people for whom that already matches, they respond.

697
00:33:26,120 --> 00:33:28,200
Speaker 1: And a big part of the reason I started changing

698
00:33:28,240 --> 00:33:30,800
Speaker 1: my content because my first few years in YouTube were

699
00:33:30,920 --> 00:33:34,560
Speaker 1: all mindset, That's all I talked about. And I just

700
00:33:34,720 --> 00:33:37,080
Speaker 1: realized that for the vast majority of people engaging with

701
00:33:37,120 --> 00:33:39,880
Speaker 1: that content, it was spiritual entertainment. And I'm like, I'm

702
00:33:39,920 --> 00:33:43,120
Speaker 1: already rich, so this does not make sense. This's not

703
00:33:43,200 --> 00:33:43,840
Speaker 1: interesting for me.

704
00:33:44,120 --> 00:33:45,640
Speaker 3: What do you mean spiritual entertainment?

705
00:33:47,000 --> 00:33:50,920
Speaker 1: I have a two hour declining arc of influence on people,

706
00:33:51,440 --> 00:33:53,840
Speaker 1: and I can make them feel like anything as possible,

707
00:33:54,160 --> 00:33:54,600
Speaker 1: and they.

708
00:33:54,440 --> 00:33:57,480
Speaker 2: Feel very good, very capable.

709
00:33:57,520 --> 00:33:58,800
Speaker 1: But then they have to come back for more, come

710
00:33:58,800 --> 00:34:00,960
Speaker 1: back for more, come back for more. Yeh, Because they're

711
00:34:01,080 --> 00:34:04,760
Speaker 1: not actually trying to gain a set of skills that

712
00:34:04,880 --> 00:34:07,320
Speaker 1: allow them to go execute in the world, in that

713
00:34:07,440 --> 00:34:09,759
Speaker 1: hyper uncertain world that we were talking about a few

714
00:34:09,800 --> 00:34:12,200
Speaker 1: minutes ago. That's not what they're looking for. What they're

715
00:34:12,200 --> 00:34:15,520
Speaker 1: looking for is the narcotic like feeling that they could

716
00:34:15,520 --> 00:34:18,799
Speaker 1: do that if they wanted to, and that feels so

717
00:34:19,000 --> 00:34:22,080
Speaker 1: good that they just never do anything with right, And

718
00:34:22,520 --> 00:34:26,480
Speaker 1: that's wholly uninteresting to me. So by temperament, I'm just like, Okay, well,

719
00:34:26,520 --> 00:34:28,759
Speaker 1: if that's how this works, then I'm not interested. So

720
00:34:28,840 --> 00:34:31,920
Speaker 1: I began reinventing my channel to get to what I

721
00:34:31,960 --> 00:34:35,120
Speaker 1: do now, which is talk about the most important things

722
00:34:35,200 --> 00:34:36,920
Speaker 1: you should be thinking about in your life, because if

723
00:34:36,960 --> 00:34:40,880
Speaker 1: you get it right, the consequence is financially, emotionally, longevity

724
00:34:40,880 --> 00:34:43,920
Speaker 1: of relationships, all that it's going to matter so much,

725
00:34:44,280 --> 00:34:46,080
Speaker 1: and if you get it wrong, your life is worth

726
00:34:46,120 --> 00:34:54,360
Speaker 1: on every measurable metric from wealth, health, emotional stability, progress,

727
00:34:54,400 --> 00:34:57,120
Speaker 1: which is a foundational pillar of human happiness, I mean

728
00:34:57,239 --> 00:35:03,280
Speaker 1: just literally every dimension. So that's the focus now. But okay,

729
00:35:03,360 --> 00:35:07,840
Speaker 1: so all of that is around just that idea of

730
00:35:08,840 --> 00:35:11,480
Speaker 1: how do you help people with a mindset thing. But

731
00:35:11,600 --> 00:35:14,000
Speaker 1: the second part that you have to face is that

732
00:35:14,080 --> 00:35:17,920
Speaker 1: some people do not have the intellectual horsepower, and no

733
00:35:18,040 --> 00:35:21,840
Speaker 1: matter what you teach them, they are forever going to

734
00:35:22,000 --> 00:35:25,040
Speaker 1: need a blue collar job. And I'll even say, maybe

735
00:35:25,080 --> 00:35:28,279
Speaker 1: it's not intellectual horsepower, maybe it's just temperament. Maybe it's

736
00:35:28,320 --> 00:35:31,600
Speaker 1: skill set that their skill set is so visceral that

737
00:35:31,640 --> 00:35:34,359
Speaker 1: they need to make things, build things, touch things, move things.

738
00:35:34,400 --> 00:35:36,120
Speaker 1: They need to live in the world of electrons and

739
00:35:36,120 --> 00:35:39,640
Speaker 1: move them around. And evolution for so long could not

740
00:35:39,800 --> 00:35:43,040
Speaker 1: over index on the thinkers, the intellectuals who now run

741
00:35:43,080 --> 00:35:47,439
Speaker 1: the world. But they certainly did not for millennia. So

742
00:35:47,960 --> 00:35:53,759
Speaker 1: I think what we're learning now is you hollow that

743
00:35:53,840 --> 00:35:57,920
Speaker 1: blue collar segment of your population out at your own peril.

744
00:35:58,360 --> 00:36:01,319
Speaker 1: First they start killing themselves and you can actually see

745
00:36:01,360 --> 00:36:04,839
Speaker 1: deaths of despair bringing down the life expectancy of men.

746
00:36:05,160 --> 00:36:07,520
Speaker 1: If you take out the depths of despair, it bounces

747
00:36:07,520 --> 00:36:11,520
Speaker 1: back to normal. So it's so frequent that it is

748
00:36:11,719 --> 00:36:14,919
Speaker 1: impacting the national stat on the length of male life

749
00:36:14,920 --> 00:36:18,560
Speaker 1: in America. That's so insane to me. So I'm like,

750
00:36:18,640 --> 00:36:21,360
Speaker 1: you have to address that. So I bang the drum

751
00:36:21,440 --> 00:36:24,480
Speaker 1: for you've got to bring some manufacturing back to the US.

752
00:36:24,520 --> 00:36:28,359
Speaker 1: Because there are humans, by temperament or intellectual power, they

753
00:36:28,400 --> 00:36:30,879
Speaker 1: have to be in the world of physical electrons moving

754
00:36:30,920 --> 00:36:33,440
Speaker 1: them around, just period, full stop, end of story. And

755
00:36:33,520 --> 00:36:36,640
Speaker 1: unless we start genetically modifying people like you're going to

756
00:36:36,680 --> 00:36:38,759
Speaker 1: have a base of largely men that you either keep

757
00:36:38,840 --> 00:36:43,960
Speaker 1: numb or brace yourself for impact when they revolt.

758
00:36:44,680 --> 00:36:47,000
Speaker 2: Yes, I would agree with that. Right, we have to

759
00:36:47,040 --> 00:36:48,520
Speaker 2: have purpose, we have to have meaning, we have to

760
00:36:48,560 --> 00:36:51,359
Speaker 2: have something to do. But does it have to be

761
00:36:51,480 --> 00:36:54,719
Speaker 2: dumb labor or can it be smarter labor? So for example,

762
00:36:55,520 --> 00:36:59,879
Speaker 2: you could talk about the fine feminine feminism movement.

763
00:36:59,520 --> 00:37:01,279
Speaker 3: And how much how many jobs is taken from men?

764
00:37:01,760 --> 00:37:03,840
Speaker 2: I was just recently thinking about my own company and

765
00:37:03,880 --> 00:37:05,279
Speaker 2: the amount of people we employ, and no, how the

766
00:37:05,320 --> 00:37:06,120
Speaker 2: majority of them are.

767
00:37:06,000 --> 00:37:08,239
Speaker 3: Women, even in my own company, right, and.

768
00:37:08,200 --> 00:37:10,319
Speaker 2: So like how many men are sort of put out of.

769
00:37:10,239 --> 00:37:11,560
Speaker 3: The workforce based off of that?

770
00:37:11,640 --> 00:37:14,920
Speaker 2: And those are physical jobs, I mean, you know, not

771
00:37:15,040 --> 00:37:18,160
Speaker 2: hard labor jobs, but physical office jobs, right, white collar jobs,

772
00:37:18,320 --> 00:37:20,319
Speaker 2: I guess you would say. But you know, when the

773
00:37:20,360 --> 00:37:22,400
Speaker 2: industrial revolution came, you had a machine that could do

774
00:37:22,400 --> 00:37:24,040
Speaker 2: the work of five thousand field workers.

775
00:37:24,040 --> 00:37:25,359
Speaker 3: But those field workers.

776
00:37:25,000 --> 00:37:26,960
Speaker 2: Eventually went on to do higher level things like science

777
00:37:26,960 --> 00:37:29,120
Speaker 2: and medicine and things like that. In this vision of

778
00:37:29,160 --> 00:37:33,279
Speaker 2: Trump re onshoring manufacturing, Latinick says, yeah, it's gonna be automated,

779
00:37:33,320 --> 00:37:36,200
Speaker 2: so someone's going to have to build the facilities. So

780
00:37:36,239 --> 00:37:39,160
Speaker 2: there's hard you know, Blue labor, blue collar labor there.

781
00:37:39,239 --> 00:37:42,120
Speaker 2: But someone's also have to build the robotics program the machines,

782
00:37:42,239 --> 00:37:45,120
Speaker 2: run the machines, and stuff like that. So to your point,

783
00:37:45,200 --> 00:37:47,359
Speaker 2: I mean, we need the physical things, but could they

784
00:37:47,440 --> 00:37:49,560
Speaker 2: do those physical things or you think that people just

785
00:37:49,600 --> 00:37:52,319
Speaker 2: are incapable of even learning something like that.

786
00:37:52,880 --> 00:37:57,319
Speaker 1: You're intelligence is the spectrum and there will always be

787
00:37:57,400 --> 00:38:00,879
Speaker 1: people that are going to be ill suited to an

788
00:38:00,920 --> 00:38:08,320
Speaker 1: information technology only world. Now, AI is a meteorite screaming

789
00:38:08,360 --> 00:38:11,120
Speaker 1: towards Earth. So the things I'm saying right now, I'm

790
00:38:11,160 --> 00:38:13,359
Speaker 1: just ignoring that meteorite for now.

791
00:38:13,920 --> 00:38:16,439
Speaker 2: It is going to come back yet, I have no doubt.

792
00:38:16,480 --> 00:38:17,640
Speaker 3: Is one of my favorite topics.

793
00:38:17,719 --> 00:38:21,359
Speaker 1: But nonetheless, you really have to bifurcate your conversation into

794
00:38:21,600 --> 00:38:25,239
Speaker 1: what do we do right now today versus then how

795
00:38:25,239 --> 00:38:29,799
Speaker 1: do we manage that transition period when it happens. And

796
00:38:29,880 --> 00:38:35,600
Speaker 1: I've written extensively in the realm of fiction on this idea,

797
00:38:35,640 --> 00:38:40,160
Speaker 1: but you have to deal with people that certainly do

798
00:38:40,239 --> 00:38:44,640
Speaker 1: not have the intellectual horsepower to do things other than

799
00:38:44,920 --> 00:38:45,960
Speaker 1: move electrons.

800
00:38:47,920 --> 00:38:48,800
Speaker 3: You got to do something.

801
00:38:49,120 --> 00:38:52,400
Speaker 1: So what that answer is, Manufacturing certainly is one Obviously

802
00:38:52,440 --> 00:38:54,600
Speaker 1: a lot of that's going to go to robotics. Now,

803
00:38:55,040 --> 00:38:57,120
Speaker 1: if you look backwards, and this is always a good

804
00:38:57,120 --> 00:38:59,680
Speaker 1: test when you look backwards, every time a new technology

805
00:38:59,680 --> 00:39:02,560
Speaker 1: comes in the place, it ends up creating more jobs,

806
00:39:02,640 --> 00:39:04,880
Speaker 1: not less, even though it always seems like it's about

807
00:39:04,880 --> 00:39:06,680
Speaker 1: to put everybody out of work, and then it just

808
00:39:06,760 --> 00:39:08,640
Speaker 1: opens up all these new avenues and the people with

809
00:39:08,719 --> 00:39:12,680
Speaker 1: the talents fled in. So as an act of faith,

810
00:39:12,960 --> 00:39:15,280
Speaker 1: I choose to believe that that will happen here as well,

811
00:39:15,480 --> 00:39:19,160
Speaker 1: that there is something I just can't conceive of yet that.

812
00:39:19,040 --> 00:39:21,840
Speaker 2: Will if people can level their skills, that's the problem.

813
00:39:21,920 --> 00:39:24,080
Speaker 3: Well that's a conundrum for you, O.

814
00:39:24,120 --> 00:39:26,560
Speaker 2: Case more go Yes, but are the people able to

815
00:39:26,680 --> 00:39:27,760
Speaker 2: go into those jobs?

816
00:39:27,880 --> 00:39:28,000
Speaker 3: No?

817
00:39:28,200 --> 00:39:30,239
Speaker 1: So this is where I want people to remember. Two

818
00:39:30,280 --> 00:39:32,359
Speaker 1: percent of people can make that kind of change. Ninety

819
00:39:32,400 --> 00:39:37,440
Speaker 1: eight percent won't. Evolution of culture or otherwise never cares

820
00:39:37,520 --> 00:39:41,359
Speaker 1: about any given generation. So evolution does not care if

821
00:39:41,360 --> 00:39:43,880
Speaker 1: we're about to introduce a utopia. But some people just

822
00:39:43,920 --> 00:39:49,240
Speaker 1: can't cross that threshold because they completely emotionally derail because

823
00:39:49,280 --> 00:39:51,280
Speaker 1: they can see I am getting left behind.

824
00:39:51,320 --> 00:39:53,280
Speaker 2: I am a trucker. I'm not going to learn to code.

825
00:39:53,600 --> 00:39:55,560
Speaker 2: I don't want to work in a robotics factory like

826
00:39:55,600 --> 00:39:57,719
Speaker 2: that person. But those were things they refuse to do.

827
00:39:57,840 --> 00:39:59,680
Speaker 2: I don't want to learn how to code. I refuse

828
00:39:59,760 --> 00:40:00,840
Speaker 2: to work robotics.

829
00:40:01,120 --> 00:40:03,560
Speaker 1: But that's the fact that that's what you're up against.

830
00:40:03,600 --> 00:40:07,759
Speaker 1: Anything else is an abstraction. So humans are such that

831
00:40:08,080 --> 00:40:10,439
Speaker 1: if they've spent, if they're a forty five year old,

832
00:40:10,920 --> 00:40:13,840
Speaker 1: they are going to many, many, many of them. It

833
00:40:13,840 --> 00:40:16,840
Speaker 1: will never be one hundred percent, thank god, but many, many,

834
00:40:17,280 --> 00:40:22,280
Speaker 1: the overwhelming majority will not be willing to make that transition.

835
00:40:22,320 --> 00:40:24,600
Speaker 1: It will be too hard in them, and so they

836
00:40:24,600 --> 00:40:25,239
Speaker 1: will check out.

837
00:40:26,320 --> 00:40:29,640
Speaker 2: Hey, small business owner, are you buried in all types

838
00:40:29,680 --> 00:40:31,879
Speaker 2: of work keeping you from the real thing that makes

839
00:40:31,920 --> 00:40:34,520
Speaker 2: you money? Well that's where just Works comes in. They're

840
00:40:34,560 --> 00:40:37,360
Speaker 2: the all in one platform that supports small business growth.

841
00:40:37,560 --> 00:40:40,160
Speaker 2: You can get all their tools that help with benefits

842
00:40:40,200 --> 00:40:44,759
Speaker 2: like payroll and HR and compliance with transparent pricing. Now

843
00:40:44,840 --> 00:40:48,360
Speaker 2: they help you hire top talent internationally, internew markets, quickly

844
00:40:48,640 --> 00:40:52,840
Speaker 2: scale international operations without the workload, and for every how.

845
00:40:52,680 --> 00:40:53,680
Speaker 3: Do I do it? Question?

846
00:40:53,840 --> 00:40:56,200
Speaker 2: You can reach out to their expert staff from sole

847
00:40:56,280 --> 00:40:57,520
Speaker 2: proprietor or.

848
00:40:57,480 --> 00:40:58,280
Speaker 3: A team of twenty.

849
00:40:58,640 --> 00:41:01,600
Speaker 2: Just Works empowers all all kinds of small businesses.

850
00:41:01,760 --> 00:41:03,040
Speaker 3: With real human support.

851
00:41:03,200 --> 00:41:07,120
Speaker 2: So visit Justworks dot com slash podcast to join the

852
00:41:07,160 --> 00:41:10,160
Speaker 2: thousands of small businesses that trust Just Works to take

853
00:41:10,200 --> 00:41:14,040
Speaker 2: care of payroll, benefits, compliance and more. Again, that's Just

854
00:41:14,200 --> 00:41:19,239
Speaker 2: Works dot com slash podcast. And those are the deaths

855
00:41:19,239 --> 00:41:20,279
Speaker 2: of despair you're talking about.

856
00:41:20,320 --> 00:41:21,320
Speaker 3: That'll be one avenue.

857
00:41:22,200 --> 00:41:26,759
Speaker 1: Depending on what age they are, it may also manifest

858
00:41:26,840 --> 00:41:28,640
Speaker 1: as active rebellion.

859
00:41:30,680 --> 00:41:32,080
Speaker 3: Yeah.

860
00:41:32,360 --> 00:41:33,520
Speaker 2: When I was a kid, I didn't want to eat

861
00:41:33,560 --> 00:41:35,319
Speaker 2: my vegetables, and my dad would tell my mom, if

862
00:41:35,320 --> 00:41:37,839
Speaker 2: he's hungry enough, he'll eat. And I think about, like,

863
00:41:38,160 --> 00:41:39,839
Speaker 2: you know the sign in the state parks don't feed

864
00:41:39,840 --> 00:41:42,719
Speaker 2: the animals because the animals become dependent. But humans aren't animals, right,

865
00:41:42,760 --> 00:41:44,160
Speaker 2: So like, if we're hungry enough, we're going to go

866
00:41:44,239 --> 00:41:46,239
Speaker 2: dig a hole, we're gonna go we'll go work, I

867
00:41:46,239 --> 00:41:48,560
Speaker 2: would think. So I'm afraid of you know, people are

868
00:41:48,600 --> 00:41:53,440
Speaker 2: calling for like the need for UBI to offset that

869
00:41:53,440 --> 00:41:56,160
Speaker 2: that sort of you know problem that you're talking about,

870
00:41:56,160 --> 00:41:58,120
Speaker 2: But it seems like if we didn't have that safety

871
00:41:58,160 --> 00:41:59,360
Speaker 2: that people would go work.

872
00:41:59,680 --> 00:42:02,360
Speaker 1: Right, depends on how disruptive this moment's going to be.

873
00:42:02,440 --> 00:42:05,839
Speaker 1: I think the reason that so many people they reach

874
00:42:05,880 --> 00:42:08,320
Speaker 1: into their brain and say, how do we solve this problem?

875
00:42:08,680 --> 00:42:11,040
Speaker 1: How do we re educate people all of that and

876
00:42:11,080 --> 00:42:13,640
Speaker 1: they understand the rate of change. Most people do not

877
00:42:13,880 --> 00:42:18,239
Speaker 1: understand the rate of change of AI. So think about this.

878
00:42:18,320 --> 00:42:20,800
Speaker 1: If Sam Altman is right and it's three hundred percent

879
00:42:21,680 --> 00:42:25,120
Speaker 1: year over a year, okay, first of all, that's more

880
00:42:25,719 --> 00:42:27,520
Speaker 1: than exponential growth.

881
00:42:27,560 --> 00:42:28,319
Speaker 3: So that's like it.

882
00:42:28,560 --> 00:42:30,480
Speaker 1: In fact, if you want to make it exponential, it's

883
00:42:30,600 --> 00:42:34,400
Speaker 1: exponential growth every five point nine months, So that is

884
00:42:34,440 --> 00:42:39,400
Speaker 1: almost a percentage improvement every day, and we're seeing it.

885
00:42:39,880 --> 00:42:41,520
Speaker 3: Yeah, it's crazy.

886
00:42:41,719 --> 00:42:43,560
Speaker 1: So the rate of change is going to hit people

887
00:42:43,640 --> 00:42:45,840
Speaker 1: like a sledgehammer. Like even if they're able to adapt

888
00:42:45,840 --> 00:42:48,400
Speaker 1: to wave one, Wave two, those are going to be

889
00:42:48,440 --> 00:42:51,319
Speaker 1: like done in six months. So what do you do

890
00:42:51,360 --> 00:42:53,360
Speaker 1: when it's wave three, four five and they're like, I

891
00:42:53,800 --> 00:42:55,760
Speaker 1: can't keep up. I don't want to keep up anymore.

892
00:42:55,800 --> 00:42:59,040
Speaker 1: This is too confusing. People will get paralyzed by the

893
00:42:59,200 --> 00:43:03,120
Speaker 1: fear of all the change. And when you really start

894
00:43:03,120 --> 00:43:05,359
Speaker 1: thinking through this problem, eventually your brain hands you back

895
00:43:05,360 --> 00:43:07,319
Speaker 1: a null's signal that says, I don't know what to do.

896
00:43:07,560 --> 00:43:08,560
Speaker 1: I don't know what this is going.

897
00:43:08,480 --> 00:43:08,880
Speaker 3: To look like.

898
00:43:08,880 --> 00:43:12,880
Speaker 1: This is what everybody calls the technological event horizon or

899
00:43:12,920 --> 00:43:15,560
Speaker 1: the singularity. So you're at a point where you can

900
00:43:15,600 --> 00:43:17,799
Speaker 1: no longer predict the future, not even a future that's

901
00:43:17,800 --> 00:43:21,319
Speaker 1: six months away. So at that point, I'm telling you

902
00:43:21,400 --> 00:43:24,640
Speaker 1: there will be massive distress. And when humans are scared,

903
00:43:24,920 --> 00:43:28,880
Speaker 1: they act crazy. So people are like, I can't have

904
00:43:28,960 --> 00:43:32,680
Speaker 1: a populace that's both scared and hungry. So it's a

905
00:43:32,800 --> 00:43:34,880
Speaker 1: dark view of what's going to happen. But I think

906
00:43:34,920 --> 00:43:37,240
Speaker 1: that's very real. We're going to go through a valley

907
00:43:37,239 --> 00:43:39,399
Speaker 1: of despair before we come out the other side, and

908
00:43:39,480 --> 00:43:41,560
Speaker 1: we're able to capture all the energy of the sun.

909
00:43:42,280 --> 00:43:44,520
Speaker 1: And if people haven't thought about this, this is not

910
00:43:44,560 --> 00:43:45,120
Speaker 1: an analogy.

911
00:43:45,160 --> 00:43:46,000
Speaker 3: I mean this literally.

912
00:43:46,719 --> 00:43:50,720
Speaker 1: Robots eat sunshine, and so the way that they stay

913
00:43:50,840 --> 00:43:53,160
Speaker 1: energized is we're going to be able to capture the

914
00:43:53,400 --> 00:43:56,680
Speaker 1: energy from the sun, which is absolutely plentiful, far more

915
00:43:56,719 --> 00:43:59,360
Speaker 1: plentiful than we need to run even billions of robots

916
00:43:59,400 --> 00:44:01,400
Speaker 1: to feed all the humans, all of it, all the

917
00:44:01,400 --> 00:44:03,799
Speaker 1: manufacturing you could ever want to do. It's falling on

918
00:44:03,800 --> 00:44:06,000
Speaker 1: the earth. I forget how long a single hour. If

919
00:44:06,040 --> 00:44:08,080
Speaker 1: you could capture one hundred percent of the sunlight that

920
00:44:08,200 --> 00:44:10,400
Speaker 1: is emitted from the sun, how long it would run

921
00:44:10,440 --> 00:44:13,000
Speaker 1: the Earth. It's a long time. So we have way

922
00:44:13,040 --> 00:44:15,440
Speaker 1: more energy than we need. We have a capture problem

923
00:44:15,640 --> 00:44:18,399
Speaker 1: once you realize that unless AI hits an upper bound,

924
00:44:18,440 --> 00:44:22,560
Speaker 1: which I haven't heard anybody except maybe the storage problem. Yes,

925
00:44:22,640 --> 00:44:26,760
Speaker 1: but like again, these all are technological problems that show

926
00:44:27,120 --> 00:44:29,120
Speaker 1: no known reason why.

927
00:44:28,920 --> 00:44:29,879
Speaker 3: We can't solve them.

928
00:44:30,239 --> 00:44:33,040
Speaker 1: Doesn't mean there isn't one, because there are certain barriers.

929
00:44:33,160 --> 00:44:36,680
Speaker 1: Like right now, it's can we make the chips fast enough? Okay,

930
00:44:36,680 --> 00:44:38,400
Speaker 1: once we're able to make the chips fast enough, can

931
00:44:38,440 --> 00:44:40,040
Speaker 1: we get the energy fast enough. If we can get

932
00:44:40,040 --> 00:44:42,520
Speaker 1: the energy fast enough, can we get the transformers fast enough?

933
00:44:42,920 --> 00:44:45,480
Speaker 1: And so we'll keep pushing the problem down. But you're

934
00:44:45,480 --> 00:44:48,279
Speaker 1: gonna hit these bottlenecks. But nobody looks at it and says,

935
00:44:48,680 --> 00:44:51,600
Speaker 1: but it, we won't be able to overcome them. And

936
00:44:51,680 --> 00:44:55,600
Speaker 1: so if there is no upper bound to intelligence, I

937
00:44:55,719 --> 00:45:02,040
Speaker 1: will draw a math equation for people. They're a moron

938
00:45:02,120 --> 00:45:04,000
Speaker 1: is defined to somebody. I think with an eighty one IQ.

939
00:45:05,160 --> 00:45:08,520
Speaker 1: Einstein had like one sixty whatever the actual numbers are.

940
00:45:09,040 --> 00:45:12,120
Speaker 1: The difference between a definitional moron in Einstein is two

941
00:45:12,239 --> 00:45:15,680
Speaker 1: point four x. So Einstein was two point four x

942
00:45:15,719 --> 00:45:20,040
Speaker 1: times smarter than a moron, and a moron can't even

943
00:45:20,120 --> 00:45:23,000
Speaker 1: get in the army. So the Army's like, I can't

944
00:45:23,000 --> 00:45:25,400
Speaker 1: even put you forward to get shot. You'll create more problems.

945
00:45:25,560 --> 00:45:26,480
Speaker 3: They're like, hold on, let.

946
00:45:26,440 --> 00:45:28,520
Speaker 1: Me finish this, otherwise it won't make sense. So you've

947
00:45:28,520 --> 00:45:31,719
Speaker 1: got Einstein's two point four x smarter than that, and

948
00:45:31,760 --> 00:45:36,719
Speaker 1: he's like thinking his way to fundamental insights in physics

949
00:45:37,160 --> 00:45:41,279
Speaker 1: that bring about nuclear energy, nuclear bombs, GPS, like all

950
00:45:41,360 --> 00:45:43,239
Speaker 1: the things that have come of the atomic age. That's

951
00:45:43,280 --> 00:45:46,520
Speaker 1: two point four x smarter than a moron. People are

952
00:45:46,560 --> 00:45:49,920
Speaker 1: saying that AI isn't going to be ten times smarter

953
00:45:50,239 --> 00:45:53,320
Speaker 1: or a thousand times smarter or one hundred thousand times

954
00:45:53,440 --> 00:45:55,920
Speaker 1: or a million times. They're talking about there being no

955
00:45:56,040 --> 00:45:58,040
Speaker 1: upper limit, which means you get into something that's a

956
00:45:58,040 --> 00:46:03,239
Speaker 1: billion times smarter. So if you've got Einstein being two

957
00:46:03,280 --> 00:46:05,200
Speaker 1: point four x, what happens when you get to ten?

958
00:46:05,840 --> 00:46:07,360
Speaker 3: So I don't even need people.

959
00:46:07,080 --> 00:46:09,840
Speaker 1: To buy into like the crazy far fetched a million,

960
00:46:09,880 --> 00:46:14,520
Speaker 1: a billion times smarter, just ten x would be unrelatable.

961
00:46:14,560 --> 00:46:17,399
Speaker 1: It would be a world no one that's alive today

962
00:46:17,440 --> 00:46:20,680
Speaker 1: would recognize, And that what's that going to happen? In

963
00:46:20,800 --> 00:46:23,799
Speaker 1: twenty years. You're really going to make me push it

964
00:46:23,800 --> 00:46:26,720
Speaker 1: out thirty years. But like I plan to still be alive.

965
00:46:26,800 --> 00:46:28,880
Speaker 1: This is not some three hundred years from now problem.

966
00:46:29,880 --> 00:46:32,920
Speaker 2: No, it's a now problem. I've been coaching my team today.

967
00:46:32,920 --> 00:46:35,239
Speaker 2: We had our calls and I said what I've been

968
00:46:35,560 --> 00:46:38,080
Speaker 2: harping on for the last couple of weeks is like, guys, look,

969
00:46:38,320 --> 00:46:40,600
Speaker 2: I need you all to be grasping onto these tools

970
00:46:40,719 --> 00:46:42,680
Speaker 2: right now because you're either gonna use them, you're gonna

971
00:46:42,680 --> 00:46:45,240
Speaker 2: get replaced by them, and our company will get replaced

972
00:46:45,280 --> 00:46:47,880
Speaker 2: if we don't use these right now. I want to

973
00:46:47,880 --> 00:46:49,680
Speaker 2: come back to that. We're going to dig into the aipiece.

974
00:46:49,719 --> 00:46:51,520
Speaker 2: I just want to finish this last piece though. So

975
00:46:52,160 --> 00:46:55,080
Speaker 2: you started teaching mindset. You realize people need it, You

976
00:46:55,120 --> 00:46:57,280
Speaker 2: started teaching it. It started to become sort of a fools

977
00:46:57,360 --> 00:46:59,040
Speaker 2: eron for you, at least on YouTube, but you still

978
00:46:59,080 --> 00:47:00,440
Speaker 2: do coach on mindset.

979
00:47:00,480 --> 00:47:02,960
Speaker 3: I believe right here that's still sort the two percent

980
00:47:03,000 --> 00:47:04,600
Speaker 3: that are actually going to do something with you.

981
00:47:04,880 --> 00:47:08,960
Speaker 2: Yes, So what would you say some mind shift or

982
00:47:09,080 --> 00:47:11,640
Speaker 2: tools that you could give to people that might be

983
00:47:11,800 --> 00:47:14,279
Speaker 2: useful for them today. Maybe someone who already has a

984
00:47:14,280 --> 00:47:16,200
Speaker 2: little bit high agency that's ready to sort of make

985
00:47:16,239 --> 00:47:16,720
Speaker 2: that jump.

986
00:47:16,880 --> 00:47:18,359
Speaker 3: Do you have some frameworks for blue prosis?

987
00:47:18,400 --> 00:47:24,680
Speaker 1: One hundred percent mindset is extraordinarily powerful and extraordinarily simple,

988
00:47:24,880 --> 00:47:27,960
Speaker 1: but people don't do it because of a small handful

989
00:47:27,960 --> 00:47:31,600
Speaker 1: of reasons. Okay, uh, the ultimate framework is really simple.

990
00:47:31,960 --> 00:47:34,680
Speaker 1: You at all times need to know what end state

991
00:47:34,760 --> 00:47:36,920
Speaker 1: you are seeking. What's your goal? If you don't have

992
00:47:36,960 --> 00:47:39,279
Speaker 1: your goal, literally stop, nothing matters. You need to be

993
00:47:39,320 --> 00:47:41,480
Speaker 1: able to say your goal and thirty five words or less.

994
00:47:41,719 --> 00:47:45,000
Speaker 1: It needs to contain a what, by when, and how much?

995
00:47:45,680 --> 00:47:48,200
Speaker 1: So the how much is like what's the kpi? How

996
00:47:48,239 --> 00:47:50,000
Speaker 1: am I going to know I achieved that? I want

997
00:47:50,000 --> 00:47:51,200
Speaker 1: to make the world a better place?

998
00:47:51,800 --> 00:47:52,839
Speaker 3: Okay in what way?

999
00:47:53,239 --> 00:47:53,319
Speaker 2: Like?

1000
00:47:53,760 --> 00:47:55,440
Speaker 3: How will you define it? And you're going to feed

1001
00:47:55,520 --> 00:47:57,200
Speaker 3: like a million people at whatever it is?

1002
00:47:57,640 --> 00:48:00,880
Speaker 1: If you've got that goal, now cool goals make so

1003
00:48:01,080 --> 00:48:03,359
Speaker 1: Now there's going to be a string of things you're

1004
00:48:03,360 --> 00:48:05,880
Speaker 1: going to have to do successfully in order to achieve that.

1005
00:48:05,960 --> 00:48:08,600
Speaker 1: But you have to overcome what I call the chaos machine.

1006
00:48:08,960 --> 00:48:12,080
Speaker 1: The chaos machine is life. The second lot of thermodynamics

1007
00:48:12,120 --> 00:48:15,000
Speaker 1: is that in a closed system, everything moves towards disorder.

1008
00:48:15,600 --> 00:48:17,800
Speaker 1: So if you want to bring order to a closed system.

1009
00:48:17,840 --> 00:48:20,200
Speaker 1: You have to pour energy in so I mean it's

1010
00:48:20,200 --> 00:48:21,960
Speaker 1: not a metaphor, that's literal. So you're going to have

1011
00:48:22,000 --> 00:48:25,800
Speaker 1: to be highly intentional, with very directional energy to overcome

1012
00:48:25,880 --> 00:48:29,080
Speaker 1: the never ending set of problems that will be put

1013
00:48:29,120 --> 00:48:31,839
Speaker 1: before you as you try to achieve your goals. Most

1014
00:48:31,880 --> 00:48:35,400
Speaker 1: people break emotionally because it makes you confront something. This

1015
00:48:35,520 --> 00:48:38,360
Speaker 1: is the big one that people don't understand about themselves,

1016
00:48:38,400 --> 00:48:41,480
Speaker 1: which is that they trust their emotions, and they shouldn't.

1017
00:48:41,760 --> 00:48:44,080
Speaker 1: Your emotions will lie to you all the time. Your

1018
00:48:44,120 --> 00:48:50,000
Speaker 1: emotions are merely your your body's way of trying to

1019
00:48:50,040 --> 00:48:52,839
Speaker 1: express something to you from the subconscious. So it does

1020
00:48:52,840 --> 00:48:55,359
Speaker 1: not speak in words. It speaks and feelings. But those

1021
00:48:55,400 --> 00:48:58,399
Speaker 1: feelings are tuned to make sure that you live long

1022
00:48:58,480 --> 00:49:01,360
Speaker 1: enough to have kids that have kids. Now, unless you

1023
00:49:01,480 --> 00:49:04,759
Speaker 1: just told me my north star is to have kids

1024
00:49:04,800 --> 00:49:07,920
Speaker 1: that have kids, then your emotions are going to be

1025
00:49:07,960 --> 00:49:10,840
Speaker 1: out of step with that. So now what people have

1026
00:49:10,880 --> 00:49:14,560
Speaker 1: to do instead of steering by emotion, which is I'm

1027
00:49:14,560 --> 00:49:17,360
Speaker 1: telling you the vast majority of the planet steers by emotions.

1028
00:49:17,400 --> 00:49:18,880
Speaker 1: They do the things that make them feel the way

1029
00:49:18,920 --> 00:49:20,759
Speaker 1: they want to feel, and they avoid the things that

1030
00:49:20,800 --> 00:49:22,319
Speaker 1: make them feel the way they don't want to feel.

1031
00:49:22,680 --> 00:49:24,719
Speaker 1: But if you're going to make progress, you're going to

1032
00:49:24,760 --> 00:49:26,480
Speaker 1: fail a lot. And failure is not going to make

1033
00:49:26,480 --> 00:49:28,160
Speaker 1: you feel the way you want to feel unless you

1034
00:49:28,200 --> 00:49:30,200
Speaker 1: pull a trick, which I'll get to in a second.

1035
00:49:30,440 --> 00:49:32,880
Speaker 1: So the rule is, you have your goal, you know

1036
00:49:32,920 --> 00:49:35,640
Speaker 1: exactly what you need to do. That goal now makes demands.

1037
00:49:36,360 --> 00:49:38,120
Speaker 1: All of those demands are basically how you're going to

1038
00:49:38,120 --> 00:49:40,319
Speaker 1: overcome the obstacles between where you are and where you

1039
00:49:40,320 --> 00:49:42,239
Speaker 1: want to get to. And there's only one way to

1040
00:49:42,280 --> 00:49:44,879
Speaker 1: do that, and that is to think from first principles,

1041
00:49:45,719 --> 00:49:49,719
Speaker 1: using what I call the physics of progress. So progress

1042
00:49:49,800 --> 00:49:51,799
Speaker 1: works in a certain way. Then you're going to take

1043
00:49:52,239 --> 00:49:55,880
Speaker 1: the framework of the scientific method and you're going to

1044
00:49:55,880 --> 00:50:00,400
Speaker 1: recontextualize it for life, for business, for relationships, whatever. It

1045
00:50:00,440 --> 00:50:03,440
Speaker 1: is a minor tweak, but it's still the same idea,

1046
00:50:03,680 --> 00:50:05,279
Speaker 1: and that is you can say, I know where I

1047
00:50:05,280 --> 00:50:07,920
Speaker 1: want to go, and I know what the obstacle is

1048
00:50:07,960 --> 00:50:09,520
Speaker 1: between where I'm at and where I want to get to,

1049
00:50:09,880 --> 00:50:11,640
Speaker 1: and now I'm going to come up with my best guess,

1050
00:50:11,800 --> 00:50:16,320
Speaker 1: my hypothesis on how to overcome that obstacle. And the

1051
00:50:16,360 --> 00:50:20,000
Speaker 1: physics of progress is a me thing so other people.

1052
00:50:20,120 --> 00:50:21,840
Speaker 1: Basically everybody does the same thing. It's why I call

1053
00:50:21,880 --> 00:50:24,919
Speaker 1: it the physics. Everybody calls it something different. The only

1054
00:50:24,960 --> 00:50:26,840
Speaker 1: way to run it is to think from first principles.

1055
00:50:26,880 --> 00:50:29,400
Speaker 1: So you have to get out from under your emotions.

1056
00:50:29,440 --> 00:50:32,200
Speaker 1: You have to be asking yourself one simple question, how

1057
00:50:32,200 --> 00:50:34,920
Speaker 1: does the world actually work? And then to understand that

1058
00:50:34,920 --> 00:50:37,000
Speaker 1: your brain lies to you all the time. Your brain

1059
00:50:37,280 --> 00:50:41,759
Speaker 1: is a shortcut machine. It is always looking for a

1060
00:50:41,840 --> 00:50:43,759
Speaker 1: rule of thumb, like how does this work? I just

1061
00:50:43,800 --> 00:50:45,560
Speaker 1: want to get the gist. The problem is if you're

1062
00:50:45,680 --> 00:50:49,040
Speaker 1: just is wrong, then it's going to lead you nowhere fast.

1063
00:50:49,560 --> 00:50:55,760
Speaker 1: But because people build their self esteem about around being better, faster, stronger, smarter,

1064
00:50:56,160 --> 00:50:58,359
Speaker 1: they focus on being right because it makes them feel

1065
00:50:58,400 --> 00:51:00,400
Speaker 1: good and they want to do that to make them

1066
00:51:00,400 --> 00:51:02,279
Speaker 1: feel the way they want to feel. And so this

1067
00:51:02,360 --> 00:51:04,279
Speaker 1: is what you see in politics. That's what you see

1068
00:51:04,320 --> 00:51:07,200
Speaker 1: everybody screaming over tariffs because everybody wants to be right.

1069
00:51:07,239 --> 00:51:08,880
Speaker 1: And this is why you see me banging the drum.

1070
00:51:09,000 --> 00:51:10,880
Speaker 1: I'm just trying to figure out if I've mapped the

1071
00:51:10,880 --> 00:51:13,040
Speaker 1: world accurately. Now, why do I care about that? Because

1072
00:51:13,040 --> 00:51:14,799
Speaker 1: my life is driven by what I just walked you through.

1073
00:51:15,040 --> 00:51:17,120
Speaker 1: I know what my goal is trying to get there,

1074
00:51:17,360 --> 00:51:19,480
Speaker 1: that goal makes a whole bunch of demands. I'm going

1075
00:51:19,520 --> 00:51:21,960
Speaker 1: up against the chaos machine. But I know something that

1076
00:51:22,000 --> 00:51:24,840
Speaker 1: seemingly a lot of people do not internalize, which is

1077
00:51:24,840 --> 00:51:27,600
Speaker 1: that skills have utility. Meaning I don't read a book

1078
00:51:27,640 --> 00:51:28,920
Speaker 1: so I can say that I read it. I read

1079
00:51:28,960 --> 00:51:30,640
Speaker 1: a book because it gives me information. I turn that

1080
00:51:30,680 --> 00:51:32,759
Speaker 1: information into a thing I can now do in the

1081
00:51:32,800 --> 00:51:34,880
Speaker 1: real world that other people don't know how to do.

1082
00:51:34,960 --> 00:51:37,759
Speaker 1: That allows me to overcome more obstacles, to outcompete them

1083
00:51:37,800 --> 00:51:40,720
Speaker 1: and make progress. So I don't care if I embarrass

1084
00:51:40,800 --> 00:51:42,520
Speaker 1: myself by saying this is what I think is going

1085
00:51:42,600 --> 00:51:44,719
Speaker 1: to happen. There's a fifty one percent chance that this

1086
00:51:44,760 --> 00:51:47,319
Speaker 1: all goes wrong and then it goes swimmingly and it

1087
00:51:47,400 --> 00:51:49,440
Speaker 1: just looked like it was guaranteed or it just completely

1088
00:51:49,440 --> 00:51:52,000
Speaker 1: crashes and burns, and all the people that were like, see,

1089
00:51:52,000 --> 00:51:54,239
Speaker 1: I told you so, Mike, Yeah, I don't care about that.

1090
00:51:54,320 --> 00:51:56,919
Speaker 1: You have completely misjudged what I'm trying to do here.

1091
00:51:57,160 --> 00:51:58,959
Speaker 1: I needed to plant to flag, which is why people

1092
00:51:59,000 --> 00:52:01,480
Speaker 1: can get me to answer a question literally about anything,

1093
00:52:01,719 --> 00:52:03,279
Speaker 1: and I'll say okay, this, So I'm thinking about it

1094
00:52:03,320 --> 00:52:05,600
Speaker 1: now because I don't care if they make fun of

1095
00:52:05,600 --> 00:52:08,560
Speaker 1: me in a year. What I know is skills have utility,

1096
00:52:08,880 --> 00:52:12,319
Speaker 1: and that as long as I learn my lesson, I

1097
00:52:12,360 --> 00:52:14,719
Speaker 1: can go ooh I thought this, but this actually ended

1098
00:52:14,760 --> 00:52:17,880
Speaker 1: up happening. That means that I have a wrong vision

1099
00:52:17,920 --> 00:52:19,520
Speaker 1: of how the world works. But this gave me a

1100
00:52:19,520 --> 00:52:22,040
Speaker 1: little bit more information. And because I don't have an

1101
00:52:22,040 --> 00:52:23,640
Speaker 1: ego about it, I'm just gonna be like cool, I'm

1102
00:52:23,680 --> 00:52:25,680
Speaker 1: going to update my thinking now. I'm ready to move

1103
00:52:25,719 --> 00:52:29,840
Speaker 1: forward in a more effective way. And so if people

1104
00:52:29,920 --> 00:52:32,040
Speaker 1: just run that all day every day, they can have

1105
00:52:32,600 --> 00:52:37,520
Speaker 1: all the success that their emotional stability, their drive, and

1106
00:52:37,560 --> 00:52:38,160
Speaker 1: their level of.

1107
00:52:38,120 --> 00:52:42,799
Speaker 3: Intellect will allow. That's a really good walkthrough on that

1108
00:52:42,960 --> 00:52:45,440
Speaker 3: mental model. Well, thank you.

1109
00:52:46,239 --> 00:52:49,720
Speaker 2: Starting with the end in mind, living with intentionality right

1110
00:52:50,080 --> 00:52:54,719
Speaker 2: on everything. It's something that I come across quite a

1111
00:52:54,719 --> 00:52:56,279
Speaker 2: bit somewhere. I've spent a lot of my time thinking

1112
00:52:56,280 --> 00:52:58,840
Speaker 2: about lady. I have some high end coaching programs and

1113
00:52:58,880 --> 00:53:02,960
Speaker 2: we coach some very successful people, and I find that

1114
00:53:03,000 --> 00:53:06,040
Speaker 2: they're not. They come to me with basic, very vague

1115
00:53:06,120 --> 00:53:10,200
Speaker 2: questions like should I buy bitcoin? Should I sell this? Asset,

1116
00:53:10,239 --> 00:53:12,200
Speaker 2: Should I sell my business? Should I whatever? Right?

1117
00:53:12,719 --> 00:53:14,920
Speaker 3: And they're never able to come to any type of decisions.

1118
00:53:15,040 --> 00:53:17,520
Speaker 2: And I found after years of doing this, it's because

1119
00:53:17,560 --> 00:53:19,040
Speaker 2: none of them are clear on where they're trying to go.

1120
00:53:19,880 --> 00:53:22,319
Speaker 2: They don't know what problem they're trying to solve specifically,

1121
00:53:22,840 --> 00:53:25,760
Speaker 2: So then almost no path looks correct. It's the Alice

1122
00:53:25,800 --> 00:53:26,719
Speaker 2: in Wonderland, right, like.

1123
00:53:26,719 --> 00:53:28,279
Speaker 3: Which passion I go? I don't where you're trying to go?

1124
00:53:28,400 --> 00:53:28,759
Speaker 3: I don't know.

1125
00:53:28,800 --> 00:53:33,279
Speaker 2: Well, then any path will do. What would you say,

1126
00:53:33,320 --> 00:53:34,920
Speaker 2: because you've spent a lot of time thinking about this,

1127
00:53:34,960 --> 00:53:36,799
Speaker 2: what would you say if you were to go go down,

1128
00:53:37,160 --> 00:53:39,759
Speaker 2: go downtown and stop one hundred people, how many of

1129
00:53:39,840 --> 00:53:42,879
Speaker 2: them could articulate in thirty five words or less their

1130
00:53:42,920 --> 00:53:43,640
Speaker 2: specific goal?

1131
00:53:43,840 --> 00:53:44,640
Speaker 3: Zero zero.

1132
00:53:46,040 --> 00:53:48,560
Speaker 1: I have people in my program that have listened to

1133
00:53:48,560 --> 00:53:52,160
Speaker 1: my classes. They come before me for the live part

1134
00:53:52,520 --> 00:53:53,719
Speaker 1: and I'm like, cool, what's your goal?

1135
00:53:55,040 --> 00:53:55,320
Speaker 3: Yeah?

1136
00:53:55,360 --> 00:53:57,439
Speaker 1: They think they know. That's the terrifying part. So this

1137
00:53:57,480 --> 00:54:00,799
Speaker 1: is and listen, everything I teach, I teach because I

1138
00:54:00,920 --> 00:54:04,880
Speaker 1: made all of these mistakes. I'm constantly catching myself falling

1139
00:54:04,880 --> 00:54:07,680
Speaker 1: into the same traps. So this is not me like, see,

1140
00:54:07,719 --> 00:54:09,759
Speaker 1: I get it, and you guys don't this means just

1141
00:54:09,800 --> 00:54:12,239
Speaker 1: like I get what it's what it's like to be

1142
00:54:12,280 --> 00:54:16,640
Speaker 1: a human, but we are all trapped inside of a

1143
00:54:16,680 --> 00:54:21,560
Speaker 1: brain that uses emotions to make us act. And people

1144
00:54:22,000 --> 00:54:25,160
Speaker 1: think they're making decisions based on logic, but they're not.

1145
00:54:25,360 --> 00:54:28,239
Speaker 1: They're making decisions based on feelings that give them the

1146
00:54:28,280 --> 00:54:33,320
Speaker 1: ability to act. And once I realized, oh, my emotions

1147
00:54:33,320 --> 00:54:36,040
Speaker 1: are actually not good at detecting what I need to

1148
00:54:36,080 --> 00:54:38,520
Speaker 1: do in order to make progress, and so I'll end

1149
00:54:38,600 --> 00:54:40,799
Speaker 1: up in this eternal loop of doing what feels good,

1150
00:54:40,840 --> 00:54:43,440
Speaker 1: protecting my ego, never wanting to admit that I'm wrong,

1151
00:54:44,080 --> 00:54:46,200
Speaker 1: and that's going to go nowhere fast. So what if

1152
00:54:46,200 --> 00:54:48,640
Speaker 1: I flipped it and said, I'm going to value myself

1153
00:54:48,640 --> 00:54:52,000
Speaker 1: for my willingness to stare nakedly at my inadequacies, and

1154
00:54:52,080 --> 00:54:54,799
Speaker 1: so I'm gonna be proud of the fact that I

1155
00:54:54,840 --> 00:54:57,440
Speaker 1: can be laughed at longer than the next person, that

1156
00:54:57,520 --> 00:54:59,799
Speaker 1: people can think I'm a fool. But behind the scenes,

1157
00:54:59,840 --> 00:55:01,760
Speaker 1: my knowledge is grow and grow and growing, growing, growing.

1158
00:55:02,080 --> 00:55:04,080
Speaker 1: And so I take myself from scranging on my couch

1159
00:55:04,120 --> 00:55:06,080
Speaker 1: cushions to find enough change, but gas my car to

1160
00:55:06,080 --> 00:55:08,600
Speaker 1: go to a job interview to ultimately build in my

1161
00:55:09,080 --> 00:55:12,160
Speaker 1: multiple companies, selling one of them for a billion dollars.

1162
00:55:12,600 --> 00:55:16,520
Speaker 1: So once you do that, you realize whoa like. Actually

1163
00:55:16,560 --> 00:55:19,080
Speaker 1: getting good at things is the name of the game.

1164
00:55:19,160 --> 00:55:22,200
Speaker 1: But in a way where like the Kobe Bryant quote,

1165
00:55:22,360 --> 00:55:25,479
Speaker 1: booze don't block dunks, meaning no matter how much somebody

1166
00:55:25,560 --> 00:55:27,400
Speaker 1: hates you, if you're good enough, they can't stop you.

1167
00:55:28,080 --> 00:55:31,960
Speaker 1: And so becoming obsessed with that idea is ultimately the

1168
00:55:31,960 --> 00:55:33,640
Speaker 1: thing that freese people. But you have to get out

1169
00:55:33,640 --> 00:55:38,880
Speaker 1: from under the how bad it feels when you realize

1170
00:55:38,880 --> 00:55:40,960
Speaker 1: that you're wrong. So anyway, the whole idea is that

1171
00:55:41,080 --> 00:55:44,120
Speaker 1: feelings will make it feel like the story you're telling

1172
00:55:44,200 --> 00:55:48,480
Speaker 1: yourself is true instead of a hypothesis. And so they

1173
00:55:48,480 --> 00:55:49,960
Speaker 1: have a vague sense of what they want to do.

1174
00:55:50,239 --> 00:55:53,399
Speaker 1: It feels good, and so because it feels good, they

1175
00:55:53,400 --> 00:55:56,520
Speaker 1: believe they have clarity, but they don't.

1176
00:55:57,600 --> 00:55:59,520
Speaker 2: The next question is I want to shift into AI.

1177
00:55:59,680 --> 00:56:02,080
Speaker 2: But this piece is actually a segue that I think

1178
00:56:02,160 --> 00:56:05,800
Speaker 2: is really important. So I just had this coaching program

1179
00:56:05,800 --> 00:56:08,040
Speaker 2: here last week, and I brought in some high level

1180
00:56:08,120 --> 00:56:10,600
Speaker 2: entrepreneurs and this time I decided to get a little

1181
00:56:10,600 --> 00:56:12,840
Speaker 2: bit smarter, and I sent them pre work, and this

1182
00:56:12,960 --> 00:56:15,799
Speaker 2: pre work was for them to do some exercises, spend

1183
00:56:15,840 --> 00:56:19,239
Speaker 2: a couple hours to figure out really clearly, specifically a

1184
00:56:19,280 --> 00:56:21,600
Speaker 2: smart goal what it is they're trying to achieve, so

1185
00:56:21,640 --> 00:56:23,160
Speaker 2: that we could spend the time here for day and

1186
00:56:23,200 --> 00:56:25,640
Speaker 2: a half building on top of them. And they came

1187
00:56:25,760 --> 00:56:29,560
Speaker 2: back with the most vague ideas, even after I gave

1188
00:56:29,600 --> 00:56:34,520
Speaker 2: them very detailed specific prompts mental exercise, all these things, right.

1189
00:56:34,840 --> 00:56:38,919
Speaker 2: And so what I find is that I often say

1190
00:56:38,960 --> 00:56:41,400
Speaker 2: that the quality of your life come down the questions

1191
00:56:41,400 --> 00:56:45,480
Speaker 2: that you ask, and when you ask vague questions, you

1192
00:56:45,560 --> 00:56:47,960
Speaker 2: get back vague answers. And so they all came with

1193
00:56:48,040 --> 00:56:52,080
Speaker 2: these very vague goals, and I'm like I, so then

1194
00:56:52,120 --> 00:56:53,759
Speaker 2: we have to spend half the day just trying to

1195
00:56:53,800 --> 00:56:57,120
Speaker 2: get clear on the goals, right. And so that's problem

1196
00:56:57,200 --> 00:56:59,040
Speaker 2: number one. And so what I find from that is,

1197
00:56:59,080 --> 00:57:02,400
Speaker 2: now if we take that into AI, and a lot

1198
00:57:02,480 --> 00:57:04,799
Speaker 2: of people think that AI is going to make them

1199
00:57:04,880 --> 00:57:08,440
Speaker 2: so much smarter, I don't find that to be the case,

1200
00:57:08,960 --> 00:57:12,680
Speaker 2: because people can't think clearly, they can't think specifically, and

1201
00:57:12,719 --> 00:57:16,400
Speaker 2: they ask terrible questions. So when you ask AI, write

1202
00:57:16,440 --> 00:57:18,760
Speaker 2: me a book, what are you gonna get? Should I

1203
00:57:18,760 --> 00:57:22,520
Speaker 2: buy bitcoin? Like, what do you is my investment portfolio

1204
00:57:22,640 --> 00:57:25,480
Speaker 2: d risk? Like when you ask it broad vague questions,

1205
00:57:25,520 --> 00:57:27,880
Speaker 2: you're going to get back terrible answers. And so really,

1206
00:57:28,000 --> 00:57:30,680
Speaker 2: these types of people who are unable to think clearly

1207
00:57:30,720 --> 00:57:33,880
Speaker 2: and ask smart specific questions aren't really going to be

1208
00:57:33,920 --> 00:57:36,120
Speaker 2: able to get the full benefit of a tool like

1209
00:57:36,200 --> 00:57:39,000
Speaker 2: AI facts.

1210
00:57:39,640 --> 00:57:41,960
Speaker 3: Yeah, that is it.

1211
00:57:42,320 --> 00:57:44,800
Speaker 1: Well, so right now I'll say I'm kind of glad

1212
00:57:45,440 --> 00:57:48,080
Speaker 1: because we're in this narrow window that I expect to

1213
00:57:48,080 --> 00:57:53,240
Speaker 1: be very brief where we all still matter in the process. Right,

1214
00:57:53,320 --> 00:57:58,040
Speaker 1: So my thing is that I so for people that

1215
00:57:58,080 --> 00:57:59,840
Speaker 1: don't know anything about me or know my story. I

1216
00:57:59,840 --> 00:58:02,960
Speaker 1: got into business because I went to film school. I

1217
00:58:03,000 --> 00:58:05,720
Speaker 1: wanted to make movies and I just could not figure

1218
00:58:05,720 --> 00:58:08,360
Speaker 1: out how to break into the industry. Finally, write a

1219
00:58:08,360 --> 00:58:09,640
Speaker 1: script gets turned into a film.

1220
00:58:09,680 --> 00:58:12,360
Speaker 2: It was a horrible experience. I was completely devastated.

1221
00:58:12,960 --> 00:58:15,720
Speaker 1: I had met these two very successful entrepreneurs and they said, listen, man,

1222
00:58:15,760 --> 00:58:17,520
Speaker 1: you're coming too the world with your handout, and if

1223
00:58:17,560 --> 00:58:19,080
Speaker 1: you want to control the art, you have to control

1224
00:58:19,120 --> 00:58:21,320
Speaker 1: the resources, so you should get into business.

1225
00:58:21,040 --> 00:58:21,600
Speaker 3: And get rich.

1226
00:58:22,120 --> 00:58:24,480
Speaker 1: And I was like, yeah, that's a brilliant idea, I thought,

1227
00:58:24,480 --> 00:58:27,440
Speaker 1: I would take eighteen months took fifteen years. But it worked,

1228
00:58:28,080 --> 00:58:31,440
Speaker 1: and along the way I realized all the things that

1229
00:58:31,440 --> 00:58:33,640
Speaker 1: we're talking about here. Skills have utility, that you can

1230
00:58:33,640 --> 00:58:38,680
Speaker 1: control your own life. But it was a very grueling

1231
00:58:38,800 --> 00:58:42,360
Speaker 1: process of realizing all of the things that I try

1232
00:58:42,400 --> 00:58:46,040
Speaker 1: to teach people, but everybody ends up getting locked in that.

1233
00:58:47,680 --> 00:58:50,000
Speaker 3: I'm lost, and.

1234
00:58:49,840 --> 00:58:52,640
Speaker 1: I don't realize I'm lost, and that's the problem. So

1235
00:58:52,760 --> 00:58:56,160
Speaker 1: take taste. This is the biggest thing with AI. If

1236
00:58:56,200 --> 00:58:59,280
Speaker 1: you don't realize that you're asking AI to do something

1237
00:58:59,280 --> 00:59:01,400
Speaker 1: that you don't have any taste in, you're in trouble.

1238
00:59:02,120 --> 00:59:05,840
Speaker 1: So right now, when AI hands me back an answer

1239
00:59:06,080 --> 00:59:08,520
Speaker 1: on like a screenplay that I'm working on, I'll be like,

1240
00:59:08,600 --> 00:59:11,480
Speaker 1: that doesn't make sense, that's cheesy, that's not working. And

1241
00:59:11,520 --> 00:59:13,360
Speaker 1: then the AI is going to say, as it's trained

1242
00:59:13,360 --> 00:59:16,360
Speaker 1: to do, you're right now, what if I'm not right?

1243
00:59:16,480 --> 00:59:18,480
Speaker 1: And that's how you get into a death spiral. People

1244
00:59:18,520 --> 00:59:21,280
Speaker 1: either take the first thing it gives them, not understanding

1245
00:59:21,320 --> 00:59:23,160
Speaker 1: the AI is meant to zoom in on what's the

1246
00:59:23,200 --> 00:59:26,240
Speaker 1: most likely thing someone will say, which means it's sort

1247
00:59:26,240 --> 00:59:29,280
Speaker 1: of the most blaw answer ever. You've got to get

1248
00:59:29,320 --> 00:59:32,480
Speaker 1: into like a really narrow band over here where it's like, okay,

1249
00:59:32,520 --> 00:59:34,959
Speaker 1: this is unique, this is fresh. I want to bring

1250
00:59:35,000 --> 00:59:37,000
Speaker 1: these different ideas together and no, no, no, that's not

1251
00:59:37,080 --> 00:59:39,760
Speaker 1: quite right. And then you can polish on top. And

1252
00:59:39,800 --> 00:59:42,360
Speaker 1: so it basically becomes a way to cut down a

1253
00:59:42,560 --> 00:59:46,040
Speaker 1: lot of work that would otherwise stall you out. Coding

1254
00:59:46,120 --> 00:59:48,400
Speaker 1: is the easy one. It's like as soon as you start,

1255
00:59:48,800 --> 00:59:51,240
Speaker 1: you know, to write that file that you've written a

1256
00:59:51,280 --> 00:59:53,640
Speaker 1: thousand times, it always has to be like custom built.

1257
00:59:53,680 --> 00:59:54,440
Speaker 3: It just auto.

1258
00:59:54,240 --> 00:59:57,440
Speaker 1: Populates from right and so now it speeds you up

1259
00:59:57,480 --> 01:00:00,920
Speaker 1: whatever two, three, five, ten X, and it will obviously

1260
01:00:01,000 --> 01:00:03,080
Speaker 1: just keep going, keep going and get better. But right

1261
01:00:03,080 --> 01:00:05,520
Speaker 1: now it's a pretty magical window where if you have

1262
01:00:05,680 --> 01:00:09,880
Speaker 1: built a set of skills, the AI will extend your capabilities.

1263
01:00:09,920 --> 01:00:12,600
Speaker 1: I think of it like an exoskeleton. If you can

1264
01:00:12,640 --> 01:00:14,840
Speaker 1: now bend over and pick up a much heavier weight

1265
01:00:14,880 --> 01:00:18,400
Speaker 1: than you could before. But if you're already strong, then

1266
01:00:18,560 --> 01:00:21,160
Speaker 1: it's amplifying a really good base.

1267
01:00:22,200 --> 01:00:24,440
Speaker 2: What I've found is I've been an entrepreneur investor my

1268
01:00:24,520 --> 01:00:26,520
Speaker 2: career since I was eighteen. I started buying homes in

1269
01:00:26,560 --> 01:00:28,840
Speaker 2: south central LA fix and flipping them, and I've built

1270
01:00:28,880 --> 01:00:30,800
Speaker 2: dozens of businesses and exits and all these things and

1271
01:00:30,880 --> 01:00:34,040
Speaker 2: this wide range of things, and I'm this massive generalist.

1272
01:00:34,200 --> 01:00:37,800
Speaker 2: I'm the jack of all trades, master of none. And

1273
01:00:37,880 --> 01:00:41,480
Speaker 2: for the first time that's to my benefit because AI

1274
01:00:41,560 --> 01:00:46,040
Speaker 2: can make me instantly deep in each one of those pieces. Right, So,

1275
01:00:46,720 --> 01:00:48,720
Speaker 2: all of a sudden, to your point, this exoskeleton, like

1276
01:00:48,760 --> 01:00:51,480
Speaker 2: I just feel like I'm just like plugged in and

1277
01:00:51,520 --> 01:00:53,360
Speaker 2: like we can just happen to all this thing. But

1278
01:00:53,400 --> 01:00:56,480
Speaker 2: going back to that for a second, So if the

1279
01:00:56,560 --> 01:00:58,840
Speaker 2: majority of people, back to the mindset thing, don't know

1280
01:00:58,880 --> 01:01:02,240
Speaker 2: what they want, can't think specifically, you can't think clearly,

1281
01:01:02,320 --> 01:01:05,320
Speaker 2: don't know what questions to ask, the AI isn't going

1282
01:01:05,360 --> 01:01:07,160
Speaker 2: to help them be any better at it. And so

1283
01:01:07,200 --> 01:01:09,320
Speaker 2: what you're going to have is the small percentage the

1284
01:01:09,320 --> 01:01:12,160
Speaker 2: two percent of people that you said that are able

1285
01:01:12,200 --> 01:01:14,400
Speaker 2: to ask good questions and are able to think strategically,

1286
01:01:14,440 --> 01:01:15,760
Speaker 2: are you going to be able to tap into this

1287
01:01:15,840 --> 01:01:19,040
Speaker 2: technology and those two percent of people will continue to

1288
01:01:19,040 --> 01:01:23,200
Speaker 2: see the smaller amount of narrow this divide between wealth

1289
01:01:23,240 --> 01:01:25,040
Speaker 2: and poor, right where the two percent are going to

1290
01:01:25,040 --> 01:01:26,760
Speaker 2: excel and the majority people don't know how to use

1291
01:01:26,800 --> 01:01:27,200
Speaker 2: the tool.

1292
01:01:27,040 --> 01:01:29,280
Speaker 3: And they're going to fall further and further behind.

1293
01:01:29,200 --> 01:01:33,320
Speaker 2: And so it sort of exacerbates that. You did an

1294
01:01:33,360 --> 01:01:36,920
Speaker 2: interview with Mark Andrissen and that was really good and

1295
01:01:37,520 --> 01:01:41,040
Speaker 2: warned about you know, this AI information war things like that.

1296
01:01:41,320 --> 01:01:43,720
Speaker 2: You talked about, you know, the impact on jobs, which

1297
01:01:43,760 --> 01:01:46,200
Speaker 2: we're sort of talking about. You said, there's one job

1298
01:01:46,320 --> 01:01:50,520
Speaker 2: AI can't do. So is that the hope for some

1299
01:01:50,560 --> 01:01:52,160
Speaker 2: people what AI can't do?

1300
01:01:54,360 --> 01:01:57,960
Speaker 1: That anything that we think AI can't do right now

1301
01:01:58,080 --> 01:02:01,680
Speaker 1: will be short lived. I think ultimately, once AI is

1302
01:02:01,920 --> 01:02:07,920
Speaker 1: truly agentic and embodied and smarter than any human alive,

1303
01:02:08,480 --> 01:02:11,200
Speaker 1: there just isn't going to be anything that AI can't do.

1304
01:02:11,400 --> 01:02:14,200
Speaker 1: Your only thing is it's not human. And some people

1305
01:02:14,240 --> 01:02:17,480
Speaker 1: are going to care deeply about that. I don't think

1306
01:02:17,560 --> 01:02:20,680
Speaker 1: that will be only benefit. I think that there will

1307
01:02:20,720 --> 01:02:25,400
Speaker 1: be violence what I call from New Puritans who really

1308
01:02:25,760 --> 01:02:30,840
Speaker 1: eschew certainly the technological augmentation of a human. They're gonna

1309
01:02:31,120 --> 01:02:36,720
Speaker 1: rebel against that. We are already bringing back extinct species.

1310
01:02:36,960 --> 01:02:38,840
Speaker 3: I saw people are paying attention. Yep.

1311
01:02:39,120 --> 01:02:41,280
Speaker 1: So first the dire wolf, which hasn't been seen in

1312
01:02:41,280 --> 01:02:44,960
Speaker 1: ten thousand years. Next up they're doing a wooly mammoth

1313
01:02:45,480 --> 01:02:48,440
Speaker 1: and like actually bring them back, not like simulations like

1314
01:02:48,560 --> 01:02:52,280
Speaker 1: you can go pet a dire wolf. So humans will

1315
01:02:52,320 --> 01:02:57,480
Speaker 1: eventually start modifying our own DNA, and people.

1316
01:02:57,240 --> 01:02:58,160
Speaker 3: Are going to have a problem with that.

1317
01:02:58,240 --> 01:03:01,920
Speaker 1: Some people have a problem with that are already augmenting

1318
01:03:01,920 --> 01:03:04,440
Speaker 1: themselves with technology. If you've ever seen anybody with a

1319
01:03:04,480 --> 01:03:09,960
Speaker 1: cochlear implant, you've now got the people from Neulink that

1320
01:03:10,000 --> 01:03:12,640
Speaker 1: can play video games with their minds, and the guys

1321
01:03:12,640 --> 01:03:14,240
Speaker 1: that play it with their minds are saying, you're gonna

1322
01:03:14,240 --> 01:03:16,400
Speaker 1: have to create a league for us because we're so

1323
01:03:16,680 --> 01:03:19,640
Speaker 1: much better than people that actually have to use a

1324
01:03:19,640 --> 01:03:23,360
Speaker 1: mouse and keyboarder controller. That's a real thing, yeah, right now,

1325
01:03:23,920 --> 01:03:25,040
Speaker 1: this very minute.

1326
01:03:25,200 --> 01:03:28,560
Speaker 3: Wow, I mean it is.

1327
01:03:28,520 --> 01:03:31,400
Speaker 2: The exoskeleton, right, So we have seen robotics helping people

1328
01:03:31,440 --> 01:03:33,640
Speaker 2: that are paralyzed things like that, and these are just

1329
01:03:33,960 --> 01:03:36,640
Speaker 2: to your point, augmented technologies that sort of help us

1330
01:03:36,640 --> 01:03:40,880
Speaker 2: do that. I saw today it was all over Twitter.

1331
01:03:41,320 --> 01:03:44,640
Speaker 2: Was the Shopify ceo had an internal memo leaked.

1332
01:03:44,720 --> 01:03:46,240
Speaker 3: I don't know if you saw that. I didn't know.

1333
01:03:46,400 --> 01:03:49,040
Speaker 2: So there was an internal memo leaked from the Shopify CEO,

1334
01:03:49,560 --> 01:03:54,600
Speaker 2: and it mandated that AI usage be a fundamental expectation

1335
01:03:54,720 --> 01:03:58,000
Speaker 2: for all employees. So you won't get a job at

1336
01:03:58,000 --> 01:04:00,280
Speaker 2: shop Fight if you're not proficient in it. But but

1337
01:04:00,360 --> 01:04:05,080
Speaker 2: even more than that, integrating AI proficiency into performance reviews

1338
01:04:05,160 --> 01:04:09,800
Speaker 2: and encouraging a exploration in project prototyping. So now getting

1339
01:04:09,800 --> 01:04:11,960
Speaker 2: the job is a requirement. Well, having AI skills is

1340
01:04:11,960 --> 01:04:15,000
Speaker 2: the requirement to get the job, But in your job reviews,

1341
01:04:15,280 --> 01:04:18,439
Speaker 2: if you're not growing in your skill and proficiency with it,

1342
01:04:18,600 --> 01:04:21,040
Speaker 2: that will count against you and your job performance for sure.

1343
01:04:21,760 --> 01:04:22,200
Speaker 3: For sure.

1344
01:04:22,560 --> 01:04:25,640
Speaker 2: Now is that getting backlash? Well, what happened is it

1345
01:04:25,680 --> 01:04:29,080
Speaker 2: got leaked and so it was like going all over Twitter,

1346
01:04:29,120 --> 01:04:31,080
Speaker 2: and so the CEO came out and said, hey, here

1347
01:04:31,080 --> 01:04:32,840
Speaker 2: it is Boom and just like put.

1348
01:04:32,680 --> 01:04:35,280
Speaker 1: It out there like that seems so self evident. And

1349
01:04:35,320 --> 01:04:37,000
Speaker 1: you've you said at the beginning, like you're either going

1350
01:04:37,080 --> 01:04:38,920
Speaker 1: to use it or you're going to get replaced by somebody.

1351
01:04:38,680 --> 01:04:40,320
Speaker 3: Who you mean, That's what I'm telling my internal team

1352
01:04:40,320 --> 01:04:41,720
Speaker 3: one hundred percent. Everybody should be.

1353
01:04:41,800 --> 01:04:44,080
Speaker 2: It's crazy, right, Like if you're not saying that.

1354
01:04:43,960 --> 01:04:46,000
Speaker 3: You're going to get blindsided. You're going to get blindsided.

1355
01:04:46,080 --> 01:04:48,040
Speaker 2: And we have this you said, we have this period

1356
01:04:48,040 --> 01:04:50,440
Speaker 2: of time you said where we still matter. I was

1357
01:04:50,480 --> 01:04:53,920
Speaker 2: thinking something different the saying is that the future is

1358
01:04:53,960 --> 01:04:57,320
Speaker 2: not evenly distributed. And so I tell my team we

1359
01:04:57,400 --> 01:05:00,240
Speaker 2: have about a year before everybody catches up, and so

1360
01:05:00,240 --> 01:05:02,120
Speaker 2: if we go super hard right now, we have about

1361
01:05:02,160 --> 01:05:05,080
Speaker 2: a year to really gap people. And I think that's

1362
01:05:05,080 --> 01:05:06,040
Speaker 2: going to be super important.

1363
01:05:06,040 --> 01:05:09,360
Speaker 1: Man, We're having those same conversations inside Impact Theory four.

1364
01:05:09,520 --> 01:05:15,440
Speaker 2: Sure, yeah, now AI is amazing. But what I've been

1365
01:05:15,480 --> 01:05:18,880
Speaker 2: really thinking about and starting to where I brought a

1366
01:05:18,960 --> 01:05:21,400
Speaker 2: person on just to start buildings out as AI agents.

1367
01:05:21,400 --> 01:05:24,080
Speaker 2: And you mentioned that before, so you think about like

1368
01:05:24,160 --> 01:05:28,040
Speaker 2: AI agents, which there was a book that I read

1369
01:05:28,040 --> 01:05:31,800
Speaker 2: probably fifteen years ago and it was maybe yeah about that.

1370
01:05:31,800 --> 01:05:33,840
Speaker 2: It was called A Whole New Mind by Daniel Pink

1371
01:05:34,080 --> 01:05:35,560
Speaker 2: and it talks about how we have a creative side

1372
01:05:35,560 --> 01:05:37,320
Speaker 2: of our brain and analytical side of our brain. And

1373
01:05:37,320 --> 01:05:39,439
Speaker 2: now you know, several hundred years ago the thought didn't

1374
01:05:39,440 --> 01:05:40,800
Speaker 2: need the creative side of our brain, and they're doing

1375
01:05:40,800 --> 01:05:42,720
Speaker 2: lobotomies and all these things, and so the entire world

1376
01:05:42,800 --> 01:05:45,920
Speaker 2: has been built up for the analytical thinker and SAT scores.

1377
01:05:45,960 --> 01:05:48,440
Speaker 2: So schools build for analytical thinkers, and SAT scores are

1378
01:05:48,480 --> 01:05:52,800
Speaker 2: analytical thinkers, and that has been the right path. My

1379
01:05:52,920 --> 01:05:54,920
Speaker 2: mom wanted me to go be an engineer, right, that

1380
01:05:55,200 --> 01:05:56,400
Speaker 2: was the past. You wanted me to go down, and

1381
01:05:56,400 --> 01:05:58,640
Speaker 2: I didn't want to do that. But he said that

1382
01:05:58,680 --> 01:06:02,600
Speaker 2: the Internet commoditized technical workers because what happened is.

1383
01:06:02,600 --> 01:06:03,480
Speaker 3: It opened up the world.

1384
01:06:03,920 --> 01:06:07,080
Speaker 2: So now I can go on to upwork or Fiver

1385
01:06:07,320 --> 01:06:09,480
Speaker 2: and I can hire a coder or a program or

1386
01:06:09,520 --> 01:06:12,320
Speaker 2: a coder or whatever. And now they're in Pakistan or

1387
01:06:12,320 --> 01:06:14,040
Speaker 2: in they're in India or wherever they are. And so

1388
01:06:14,080 --> 01:06:16,600
Speaker 2: also to commoditized these technical workers. And so he said

1389
01:06:16,640 --> 01:06:19,280
Speaker 2: that the new world is going to be driven by

1390
01:06:19,360 --> 01:06:22,720
Speaker 2: the creative thinker, so not the technical worker. More like

1391
01:06:22,760 --> 01:06:24,720
Speaker 2: a conductor of an orchestra. I don't know how to

1392
01:06:24,760 --> 01:06:26,440
Speaker 2: play the instruments better than any of view, but I

1393
01:06:26,480 --> 01:06:28,760
Speaker 2: can make you make beautiful music together.

1394
01:06:28,880 --> 01:06:29,040
Speaker 3: Right.

1395
01:06:29,520 --> 01:06:33,920
Speaker 2: And so you have all these countries basically coming out

1396
01:06:33,960 --> 01:06:37,920
Speaker 2: of poverty with bop skills, right, And so they're commoditized

1397
01:06:38,000 --> 01:06:41,360
Speaker 2: technical workers. And whether that be research assistance, whether that

1398
01:06:41,400 --> 01:06:45,400
Speaker 2: be pair of legals doing briefs, or coders or accountants

1399
01:06:45,440 --> 01:06:47,400
Speaker 2: or whatever it is. And so if I were hire

1400
01:06:47,480 --> 01:06:50,280
Speaker 2: somebody on Fiver to go do SEO for me, that's

1401
01:06:50,320 --> 01:06:53,479
Speaker 2: an autonomous agent. But now we can just program AI

1402
01:06:53,600 --> 01:06:58,680
Speaker 2: to do that. And this is gaining speed at a rapid, rapid,

1403
01:06:58,800 --> 01:06:59,360
Speaker 2: rapid rate.

1404
01:07:00,120 --> 01:07:01,880
Speaker 3: Curious what your thoughts are on that?

1405
01:07:02,040 --> 01:07:06,000
Speaker 2: My well, what do you see AI agents doing to

1406
01:07:06,160 --> 01:07:09,360
Speaker 2: disrupt sort of the world and at what speed?

1407
01:07:10,120 --> 01:07:11,560
Speaker 3: Before I give my thoughts.

1408
01:07:11,840 --> 01:07:17,920
Speaker 1: The speed will be extremely rapid. So by twenty twenty seven,

1409
01:07:18,200 --> 01:07:24,960
Speaker 1: you'll have agents, you'll have AI basically helping to write

1410
01:07:25,400 --> 01:07:29,760
Speaker 1: AI improvements, running a lot of the experimentations, and so

1411
01:07:30,000 --> 01:07:36,959
Speaker 1: you'll have decades of advancements in a week. And that's

1412
01:07:37,760 --> 01:07:41,120
Speaker 1: the very shrewd minds in the space. The guys that

1413
01:07:41,240 --> 01:07:43,360
Speaker 1: like have been making these predictions that have been coming

1414
01:07:43,400 --> 01:07:46,000
Speaker 1: true are the ones saying that that's not me making

1415
01:07:46,000 --> 01:07:46,640
Speaker 1: that number up.

1416
01:07:47,760 --> 01:07:49,400
Speaker 3: So it's twenty.

1417
01:07:49,200 --> 01:07:52,120
Speaker 1: Twenty five already, we're rapidly approaching the middle of twenty

1418
01:07:52,160 --> 01:07:57,680
Speaker 1: twenty five, So this is less than twenty four months

1419
01:07:57,720 --> 01:08:01,760
Speaker 1: away that you're seeing like this kind kind of blinding

1420
01:08:01,960 --> 01:08:07,680
Speaker 1: speed what they call the intelligence explosion. So that's coming

1421
01:08:07,800 --> 01:08:11,760
Speaker 1: very fast. That will create a work environment for sure

1422
01:08:11,800 --> 01:08:14,880
Speaker 1: that nobody can conceive of. You are at that point

1423
01:08:14,880 --> 01:08:18,120
Speaker 1: a fish like twenty twenty eight is beyond the technological

1424
01:08:18,120 --> 01:08:20,840
Speaker 1: event horizon. Nobody knows what's going to what twenty twenty

1425
01:08:20,880 --> 01:08:22,519
Speaker 1: eight is going to look like. So the fact that

1426
01:08:22,560 --> 01:08:24,760
Speaker 1: something three years from now is like, I can't even

1427
01:08:24,920 --> 01:08:26,519
Speaker 1: begin to tell you what that's going to look like.

1428
01:08:27,280 --> 01:08:31,040
Speaker 1: So in the workforce, the only way from where I'm

1429
01:08:31,040 --> 01:08:32,760
Speaker 1: sitting to make any sense of this is what you

1430
01:08:32,800 --> 01:08:34,920
Speaker 1: said at the beginning, which is you need to be

1431
01:08:35,040 --> 01:08:36,800
Speaker 1: at the edge of it. You need to be deploying it,

1432
01:08:36,920 --> 01:08:39,600
Speaker 1: using it, improving your skill sets, figuring out how do

1433
01:08:39,680 --> 01:08:41,680
Speaker 1: I whatever it is that I'm doing, how do I

1434
01:08:41,760 --> 01:08:43,720
Speaker 1: make this work? And the people that are going to

1435
01:08:43,720 --> 01:08:46,400
Speaker 1: pull away are the people that have taste, that understand

1436
01:08:46,439 --> 01:08:49,960
Speaker 1: when something's good and when it's not, people that have

1437
01:08:50,200 --> 01:08:51,920
Speaker 1: something that they want to build and they have the

1438
01:08:52,240 --> 01:08:54,920
Speaker 1: courage to go build that thing. I think about it

1439
01:08:55,000 --> 01:08:57,920
Speaker 1: a lot. It's like taking if you take the US

1440
01:08:58,000 --> 01:09:00,240
Speaker 1: economy and it's like a big sheet of glass, and

1441
01:09:00,280 --> 01:09:03,720
Speaker 1: there's like a few really big companies and then you know,

1442
01:09:03,800 --> 01:09:06,599
Speaker 1: sort of a handful of little medium ones, and then

1443
01:09:06,680 --> 01:09:09,879
Speaker 1: for the most part everything else just these small companies.

1444
01:09:10,360 --> 01:09:14,280
Speaker 1: You were about to drop that and those big companies

1445
01:09:14,280 --> 01:09:16,479
Speaker 1: that make up the vast majority of this sheet of

1446
01:09:16,479 --> 01:09:19,840
Speaker 1: glass are just going to shatter into a ton of

1447
01:09:19,840 --> 01:09:21,800
Speaker 1: small companies, and I can't remer if you said it

1448
01:09:21,800 --> 01:09:25,080
Speaker 1: before we started rolling, but there's going to be many

1449
01:09:25,200 --> 01:09:28,719
Speaker 1: billion dollar companies made by one, two or three people.

1450
01:09:28,840 --> 01:09:33,280
Speaker 1: They get together, they deploy full AI orgs, and they

1451
01:09:33,360 --> 01:09:41,280
Speaker 1: just run. They give the AI agents like money, the

1452
01:09:41,360 --> 01:09:44,840
Speaker 1: ability to move, to buy things, to do whatever they

1453
01:09:44,880 --> 01:09:47,880
Speaker 1: need to do, and all of a sudden, all of

1454
01:09:47,920 --> 01:09:51,360
Speaker 1: those employees that you would have historically had they just

1455
01:09:51,400 --> 01:09:53,920
Speaker 1: go away. And so the question becomes what does it

1456
01:09:54,000 --> 01:09:58,040
Speaker 1: look like when let's say even thirty percent of the

1457
01:09:58,840 --> 01:10:03,760
Speaker 1: total workforce now starts their own company, Like what does

1458
01:10:03,800 --> 01:10:07,679
Speaker 1: that do? How many things will that commoditize? How far

1459
01:10:07,720 --> 01:10:09,960
Speaker 1: will that push innovation? And then how long will it

1460
01:10:10,040 --> 01:10:13,280
Speaker 1: last before it's like, actually, human, you're just kind of

1461
01:10:13,320 --> 01:10:15,640
Speaker 1: slowing me down and I'm the AI and it's like,

1462
01:10:16,400 --> 01:10:18,640
Speaker 1: you know, how about you just tell me what you

1463
01:10:18,680 --> 01:10:20,400
Speaker 1: want done and I go do it and.

1464
01:10:20,520 --> 01:10:22,840
Speaker 3: I sort of sit at a utopian dream. Yeah, I

1465
01:10:22,880 --> 01:10:23,519
Speaker 3: mean sort of.

1466
01:10:23,600 --> 01:10:26,960
Speaker 1: So the there were two books written about the future

1467
01:10:27,000 --> 01:10:31,240
Speaker 1: that were hyper prescient. One has already come true, one

1468
01:10:31,320 --> 01:10:33,479
Speaker 1: may be about to come true. Unless nineteen eighty four,

1469
01:10:33,880 --> 01:10:39,519
Speaker 1: the surveillance state as terrifying as advertised, then you've got

1470
01:10:39,800 --> 01:10:42,879
Speaker 1: a brave new world, which was a world of plenty

1471
01:10:43,000 --> 01:10:47,640
Speaker 1: where everybody does drugs to numb themselves. And in a

1472
01:10:47,680 --> 01:10:50,479
Speaker 1: world where you don't have to work for anything, finding

1473
01:10:50,479 --> 01:10:53,520
Speaker 1: meaning and purpose is not going to be easy.

1474
01:10:53,600 --> 01:10:57,920
Speaker 2: Yeah, if you think about like the base law of

1475
01:10:58,160 --> 01:11:02,880
Speaker 2: economics is based off of scace, and so when you

1476
01:11:02,920 --> 01:11:05,880
Speaker 2: think about work and labor and knowledge, it's also built

1477
01:11:05,880 --> 01:11:08,240
Speaker 2: on scarcity. So an attorney is able to charge a

1478
01:11:08,280 --> 01:11:10,559
Speaker 2: premium because they have a scarcity of knowledge that they've

1479
01:11:10,560 --> 01:11:12,760
Speaker 2: been able to acquire. Or a doctor has scarcity of

1480
01:11:12,800 --> 01:11:16,559
Speaker 2: knowledgey've been oun to acquire. But when knowledge no longer

1481
01:11:16,640 --> 01:11:19,280
Speaker 2: has scarcity, how has that changed? And to your point

1482
01:11:19,320 --> 01:11:23,080
Speaker 2: about the agents, I saw this, so we have, like

1483
01:11:23,160 --> 01:11:24,760
Speaker 2: I said, I brought somebody on and we're building out

1484
01:11:24,760 --> 01:11:27,880
Speaker 2: these agent workflows, and I saw this breakdown of somebody.

1485
01:11:27,960 --> 01:11:30,639
Speaker 3: He put it online and it was basically the org chart.

1486
01:11:31,000 --> 01:11:34,760
Speaker 2: And then all the officers of the company had agent shadows,

1487
01:11:35,280 --> 01:11:37,759
Speaker 2: and the shadows would the agent shadows would just shadow

1488
01:11:37,760 --> 01:11:40,080
Speaker 2: all their calls or meetings, all these things, and the

1489
01:11:40,120 --> 01:11:44,360
Speaker 2: CEO could call on a phone call the agent shadow

1490
01:11:44,560 --> 01:11:47,720
Speaker 2: and discuss all the things that's been going on and

1491
01:11:47,760 --> 01:11:51,360
Speaker 2: now they've got each of the officers agent shadows communicating

1492
01:11:51,360 --> 01:11:52,200
Speaker 2: between themselves.

1493
01:11:52,280 --> 01:11:52,799
Speaker 3: That's awesome.

1494
01:11:53,200 --> 01:11:54,760
Speaker 2: I mean just like that, right, and we're just in

1495
01:11:54,760 --> 01:11:56,719
Speaker 2: a couple months into this. But when you think about

1496
01:11:56,720 --> 01:11:59,400
Speaker 2: like an AI agent, like go out and find the

1497
01:11:59,439 --> 01:12:02,720
Speaker 2: top five business models and just instantly duplicate them for me,

1498
01:12:03,240 --> 01:12:05,040
Speaker 2: and go hire the other agents that you need and

1499
01:12:05,040 --> 01:12:06,479
Speaker 2: the other agents that you need, and go build out

1500
01:12:06,479 --> 01:12:09,000
Speaker 2: this agent workforce to go duplicate this and so instantly

1501
01:12:09,040 --> 01:12:10,519
Speaker 2: disrupt every online company.

1502
01:12:10,960 --> 01:12:12,080
Speaker 3: I hear about MCP.

1503
01:12:12,600 --> 01:12:15,519
Speaker 1: Yeah, the MPC servers, Oh my god, like the So

1504
01:12:15,640 --> 01:12:18,439
Speaker 1: the protocol that they're going to be using that will

1505
01:12:18,520 --> 01:12:23,160
Speaker 1: let these AIS talk to each other, is that this

1506
01:12:23,200 --> 01:12:26,000
Speaker 1: is where it's going to get crazy because right now

1507
01:12:26,040 --> 01:12:31,000
Speaker 1: agents will dead end pretty quickly. But with the MCP protocol,

1508
01:12:31,120 --> 01:12:34,720
Speaker 1: they're going to be able to go in. AI will

1509
01:12:34,720 --> 01:12:37,599
Speaker 1: be able to talk to all other AI do their things.

1510
01:12:38,840 --> 01:12:42,160
Speaker 1: And so now, whether it's accessing your calendar, booking a flight,

1511
01:12:44,320 --> 01:12:48,000
Speaker 1: checking hotels, I mean just I can't even imagine going

1512
01:12:48,000 --> 01:12:49,559
Speaker 1: through your tender profile for you.

1513
01:12:49,600 --> 01:12:51,400
Speaker 3: I mean it literally.

1514
01:12:51,040 --> 01:12:55,040
Speaker 1: Anything that deploys the standard and Anthropic and Open AI

1515
01:12:55,200 --> 01:12:57,880
Speaker 1: have already agreed to it. So that's two of the

1516
01:12:57,880 --> 01:13:01,680
Speaker 1: big boys. I'd be surprised that more people don't. This

1517
01:13:01,760 --> 01:13:04,760
Speaker 1: is like the TCPIP moment for AI, where now it's

1518
01:13:04,760 --> 01:13:06,719
Speaker 1: just like you can just hyperlink and it all connects.

1519
01:13:08,320 --> 01:13:09,519
Speaker 3: That's gonna be cool. Yeah.

1520
01:13:10,040 --> 01:13:12,000
Speaker 2: So this kind of takes me to the next subject

1521
01:13:12,040 --> 01:13:16,280
Speaker 2: that I want to jump into is bitcoin. So when

1522
01:13:16,320 --> 01:13:18,320
Speaker 2: I think about bitcoin. I gave a talk at I

1523
01:13:18,320 --> 01:13:21,040
Speaker 2: gave the closing keynote at the Bitcoin Conference in Abu

1524
01:13:21,120 --> 01:13:23,479
Speaker 2: Dhabi a few months ago, and I talked about sort

1525
01:13:23,479 --> 01:13:25,960
Speaker 2: of this bitcoin forecast twenty thirty, twenty forty, twenty fifty,

1526
01:13:26,120 --> 01:13:28,360
Speaker 2: and talked about how we have these fifty EU repeating

1527
01:13:28,360 --> 01:13:30,040
Speaker 2: tech cycles and if you put bitcoin into that, it

1528
01:13:30,080 --> 01:13:32,160
Speaker 2: sort of gives us a roadmap. And a lot of

1529
01:13:32,160 --> 01:13:34,200
Speaker 2: people think that bitcoin has failed because it's a store

1530
01:13:34,200 --> 01:13:36,000
Speaker 2: of value but it's not a medium exchange and blah

1531
01:13:36,040 --> 01:13:38,360
Speaker 2: blah blah. But they don't understand the monetary evolution that

1532
01:13:38,400 --> 01:13:40,439
Speaker 2: has to happen in the time frames that happens. So

1533
01:13:40,479 --> 01:13:45,200
Speaker 2: it hasn't failed. It will get there eventually. But Gresham's

1534
01:13:45,240 --> 01:13:47,400
Speaker 2: law states that good money drives out bad, so we

1535
01:13:47,439 --> 01:13:50,000
Speaker 2: don't have pre sixty five quarters and dimes in circulation

1536
01:13:50,040 --> 01:13:52,360
Speaker 2: anymore because they're pure silver. You wouldn't spend that, and

1537
01:13:52,400 --> 01:13:53,840
Speaker 2: if you did, you definitely wouldn't spend it.

1538
01:13:53,840 --> 01:13:54,280
Speaker 3: You'd save it.

1539
01:13:54,320 --> 01:13:56,599
Speaker 2: So you spend the bad money the post sixty five,

1540
01:13:56,640 --> 01:13:57,240
Speaker 2: you saved.

1541
01:13:57,000 --> 01:13:57,599
Speaker 3: The pre right.

1542
01:13:58,280 --> 01:14:00,439
Speaker 2: So you wouldn't want to use big coined to buy

1543
01:14:00,439 --> 01:14:02,839
Speaker 2: a cup of coffee when I can just spend Fiat

1544
01:14:02,840 --> 01:14:05,840
Speaker 2: to do that. So then you start thinking, well, how

1545
01:14:05,880 --> 01:14:09,040
Speaker 2: does bitcoin evolve from that store value to a medium exchange. Well,

1546
01:14:09,040 --> 01:14:11,200
Speaker 2: we would want to use it only for things that

1547
01:14:12,000 --> 01:14:15,040
Speaker 2: it could only be used for, and so then you

1548
01:14:15,040 --> 01:14:16,559
Speaker 2: start thinking, Okay, what are the things that it could

1549
01:14:16,600 --> 01:14:21,160
Speaker 2: do that FIAT can't, Like micro transactions, high frequency transactions,

1550
01:14:21,200 --> 01:14:23,200
Speaker 2: things like that, and you start to think about AI agents.

1551
01:14:23,200 --> 01:14:25,479
Speaker 2: So AI agents can't have a bank account because you

1552
01:14:25,560 --> 01:14:27,240
Speaker 2: have to have KYC and AML you have to be

1553
01:14:27,240 --> 01:14:29,320
Speaker 2: a person to do that. So they can have their

1554
01:14:29,320 --> 01:14:32,240
Speaker 2: own bitcoin address, their own bitcoin wallet, and they could

1555
01:14:32,280 --> 01:14:35,200
Speaker 2: do micro transactions fractions of penny back and forth at

1556
01:14:35,240 --> 01:14:37,640
Speaker 2: the speed of light a thousand times if they wanted to.

1557
01:14:38,479 --> 01:14:39,360
Speaker 3: And so we're.

1558
01:14:39,200 --> 01:14:41,919
Speaker 2: Already seeing there was an AI agent that was programmed

1559
01:14:41,960 --> 01:14:47,400
Speaker 2: to go build a business, find names, business plans, find

1560
01:14:47,439 --> 01:14:49,360
Speaker 2: the domain names and went and bought a domain name

1561
01:14:49,439 --> 01:14:53,160
Speaker 2: using bitcoin over the Lightning network. So already seeing truth

1562
01:14:53,240 --> 01:14:55,720
Speaker 2: terminal or a different one. I'm not sure which one.

1563
01:14:55,720 --> 01:14:59,759
Speaker 2: I did that on truth terminals correct, So it's already

1564
01:15:00,320 --> 01:15:02,760
Speaker 2: And so it seems like with the AI agents they're

1565
01:15:02,760 --> 01:15:05,360
Speaker 2: going to need some form of payment to hire each other.

1566
01:15:05,680 --> 01:15:09,000
Speaker 2: Pay them out the cost of compute plus energy not to.

1567
01:15:09,040 --> 01:15:15,840
Speaker 1: Derail though, So on bitcoin, I am so nonplussed by

1568
01:15:15,880 --> 01:15:19,559
Speaker 1: the argument that this has to be a medium of exchange.

1569
01:15:20,040 --> 01:15:21,920
Speaker 1: So tell me if you think I'm just naive and

1570
01:15:21,960 --> 01:15:26,599
Speaker 1: I'm missing something. But to me, the thing that would

1571
01:15:26,680 --> 01:15:29,880
Speaker 1: cause bitcoin to fail is to have a currency that

1572
01:15:29,920 --> 01:15:32,880
Speaker 1: can't be inflated. So if there was a currency that

1573
01:15:32,880 --> 01:15:35,320
Speaker 1: couldn't be inflated, I wouldn't even think twice about bitcoins.

1574
01:15:35,320 --> 01:15:37,120
Speaker 2: Is about I put my money in whatever that thing

1575
01:15:37,240 --> 01:15:38,599
Speaker 2: is bitcoin? Is that?

1576
01:15:39,360 --> 01:15:41,840
Speaker 1: So right now, in a world where your money is

1577
01:15:41,880 --> 01:15:44,679
Speaker 1: being inflated, you have to have somewhere to go where

1578
01:15:44,880 --> 01:15:47,920
Speaker 1: your money can't be inflated. So now the only catch

1579
01:15:47,960 --> 01:15:50,400
Speaker 1: up with bitcoin me is that people love its volatility.

1580
01:15:50,439 --> 01:15:50,920
Speaker 3: I hate it.

1581
01:15:51,040 --> 01:15:53,320
Speaker 1: I want it to just be a static place I

1582
01:15:53,320 --> 01:15:55,040
Speaker 1: can put my money and be like, cool, this is

1583
01:15:55,080 --> 01:15:56,160
Speaker 1: going to be worth the same inten.

1584
01:15:56,160 --> 01:15:57,880
Speaker 3: Courl that it is. That's gold, you got that gold

1585
01:15:57,920 --> 01:15:58,479
Speaker 3: also works.

1586
01:15:58,560 --> 01:16:01,800
Speaker 1: Yeah, but in a world where it becomes more and

1587
01:16:01,840 --> 01:16:04,679
Speaker 1: more virtual, I don't under like when I think about

1588
01:16:04,680 --> 01:16:08,759
Speaker 1: a kid who grows up and they were let's say nine,

1589
01:16:09,600 --> 01:16:13,519
Speaker 1: two years ago. For them, bitcoin just exists. It's just

1590
01:16:13,560 --> 01:16:16,000
Speaker 1: a thing. People take it seriously. It's an option, Like

1591
01:16:16,040 --> 01:16:18,120
Speaker 1: they don't have any sense of like, oh it was

1592
01:16:18,240 --> 01:16:21,120
Speaker 1: born and there was a time where people thought it

1593
01:16:21,160 --> 01:16:23,600
Speaker 1: was weird. They're just like, oh, yeah, bitcoin. It's like

1594
01:16:23,720 --> 01:16:25,360
Speaker 1: that my daughter thought everything was a.

1595
01:16:25,320 --> 01:16:27,960
Speaker 2: Touch screen touch every computer, kay, of course.

1596
01:16:28,360 --> 01:16:32,840
Speaker 1: So I think my thesis anyway with bitcoin people can

1597
01:16:32,920 --> 01:16:35,599
Speaker 1: think what they will is that the world is going

1598
01:16:35,640 --> 01:16:38,080
Speaker 1: to be more virtual tomorrow than it is today. And

1599
01:16:38,120 --> 01:16:40,320
Speaker 1: one of the most important things to virtualize is money.

1600
01:16:40,560 --> 01:16:43,519
Speaker 1: Certainly don't want it to be a CBDC stable coin

1601
01:16:43,600 --> 01:16:46,439
Speaker 1: helps a lot, but that's still, at least as imagine

1602
01:16:46,520 --> 01:16:48,839
Speaker 1: right now, going to be backed by a fiat currency.

1603
01:16:48,880 --> 01:16:53,280
Speaker 1: So that doesn't solve my problem of inflation. So having

1604
01:16:53,520 --> 01:16:59,000
Speaker 1: a inflation resistant thing that I can self custody.

1605
01:17:00,080 --> 01:17:00,799
Speaker 3: Solves that problem.

1606
01:17:00,880 --> 01:17:04,360
Speaker 1: So I've obviously heard people now starting to talk about

1607
01:17:04,560 --> 01:17:06,840
Speaker 1: this has failed because it's not a medium of exchange.

1608
01:17:07,439 --> 01:17:08,960
Speaker 3: That just doesn't even make my radar.

1609
01:17:09,720 --> 01:17:13,559
Speaker 2: Gold can be, but it can't like I hold gold,

1610
01:17:13,680 --> 01:17:15,599
Speaker 2: gold can't be in the digital age. And ye, gold

1611
01:17:15,640 --> 01:17:18,559
Speaker 2: requires centralization to get the velocity, which is why it failed.

1612
01:17:18,880 --> 01:17:20,680
Speaker 1: So why don't people complain about that because they're saying

1613
01:17:20,680 --> 01:17:22,360
Speaker 1: it's used in like electronics.

1614
01:17:22,600 --> 01:17:25,720
Speaker 2: Yeah, no, one's arguing that with gold. But back to

1615
01:17:25,760 --> 01:17:27,640
Speaker 2: the point. So if you think about bitcoin and the

1616
01:17:27,680 --> 01:17:30,400
Speaker 2: attributes and so in the monetary evolution, you go from

1617
01:17:30,400 --> 01:17:34,160
Speaker 2: a collectible it's a cool rock, feather, seashell baseball card.

1618
01:17:34,439 --> 01:17:37,120
Speaker 2: But some collectibles most don't, but some collectibles become a

1619
01:17:37,160 --> 01:17:39,080
Speaker 2: store value. Some people put a lot of wealth in

1620
01:17:39,120 --> 01:17:42,559
Speaker 2: their baseball cards or Pokemon cards or whatever, right art

1621
01:17:43,120 --> 01:17:46,640
Speaker 2: and art, and then some collectibles, if they have the

1622
01:17:46,720 --> 01:17:49,400
Speaker 2: right I'm sorry, store values, if they have the right attributes,

1623
01:17:49,439 --> 01:17:53,200
Speaker 2: could become a medium exchange, which would be portable, durable, divisible, recognizable, fungible,

1624
01:17:53,240 --> 01:17:55,400
Speaker 2: et cetera. And do you accept that that's an important

1625
01:17:55,400 --> 01:18:00,000
Speaker 2: part of Bitcoin's future. Well, let me I'll answer that

1626
01:18:00,080 --> 01:18:02,839
Speaker 2: by asking you a question. So if you imagine the future,

1627
01:18:02,960 --> 01:18:06,040
Speaker 2: you said, there's two books that were written that tell

1628
01:18:06,120 --> 01:18:09,320
Speaker 2: us the future that are very clear, and one of

1629
01:18:09,320 --> 01:18:12,320
Speaker 2: them was nineteen eighty four. And why is that one

1630
01:18:12,400 --> 01:18:17,920
Speaker 2: so scary? You said, it's an authoritarian state. So the

1631
01:18:17,960 --> 01:18:20,679
Speaker 2: government if you read you know, Anatomy of the State

1632
01:18:20,960 --> 01:18:23,479
Speaker 2: or Bastiet's the law, you understand the role of the

1633
01:18:23,520 --> 01:18:27,439
Speaker 2: government is to always grow and to always retain power.

1634
01:18:28,200 --> 01:18:29,880
Speaker 3: And so governments are going to try and do two things.

1635
01:18:29,960 --> 01:18:32,160
Speaker 2: Number one, continue to inflate away the currency and number two,

1636
01:18:32,200 --> 01:18:33,760
Speaker 2: continue to take more power.

1637
01:18:33,560 --> 01:18:34,679
Speaker 3: And more freedom away.

1638
01:18:34,840 --> 01:18:36,919
Speaker 2: That's that's the role of the state of the government.

1639
01:18:37,479 --> 01:18:37,920
Speaker 3: And so.

1640
01:18:39,320 --> 01:18:41,920
Speaker 2: In North Korea, you're not allowed to have money. Let

1641
01:18:42,000 --> 01:18:45,519
Speaker 2: me give you another example. So bitcoin has lots of attributes.

1642
01:18:46,760 --> 01:18:47,560
Speaker 3: Permissionless.

1643
01:18:48,240 --> 01:18:51,120
Speaker 2: There's over a billion adults in the world right now

1644
01:18:51,160 --> 01:18:54,679
Speaker 2: today who are not allowed to use the financial global

1645
01:18:54,680 --> 01:18:58,519
Speaker 2: financial system because they don't have permission to join. A

1646
01:18:58,560 --> 01:19:01,639
Speaker 2: billion adults. There's eight billion people. I'm talking a billion adults,

1647
01:19:01,960 --> 01:19:04,120
Speaker 2: so they don't have permission to join. So think about

1648
01:19:04,160 --> 01:19:06,519
Speaker 2: the mind share that the world has lost. If we

1649
01:19:06,600 --> 01:19:10,479
Speaker 2: brought a billion adults into the world to bring more

1650
01:19:10,520 --> 01:19:13,240
Speaker 2: solutions and solve more problems and more value.

1651
01:19:13,240 --> 01:19:13,800
Speaker 3: But they're out.

1652
01:19:14,520 --> 01:19:16,880
Speaker 2: They left the war torn country. They don't have proper documentation.

1653
01:19:17,000 --> 01:19:18,920
Speaker 2: They are a fifteen year old kid that happened to

1654
01:19:18,920 --> 01:19:20,040
Speaker 2: be born in the wrong country.

1655
01:19:20,479 --> 01:19:22,640
Speaker 3: They're out, so think about that.

1656
01:19:22,640 --> 01:19:26,240
Speaker 2: They don't have permission in the current system of medium

1657
01:19:26,320 --> 01:19:31,559
Speaker 2: exchange currency. It's also censorship resistant. It's also immutable. So

1658
01:19:31,680 --> 01:19:35,360
Speaker 2: for example, immutable, why is that important? Well, in India

1659
01:19:35,479 --> 01:19:38,800
Speaker 2: in twenty sixteen, they canceled all the big bills and

1660
01:19:38,840 --> 01:19:41,240
Speaker 2: you had a month to bring them all in and

1661
01:19:41,360 --> 01:19:43,000
Speaker 2: claim them and show all the paperwork of how you

1662
01:19:43,040 --> 01:19:45,680
Speaker 2: earn the bills or you lost them. But India is

1663
01:19:45,720 --> 01:19:47,640
Speaker 2: a high cash country, so a lot of people had

1664
01:19:47,680 --> 01:19:49,120
Speaker 2: this money saved and they lost it all.

1665
01:19:49,160 --> 01:19:50,280
Speaker 3: It wasn't immutable.

1666
01:19:50,880 --> 01:19:53,720
Speaker 2: Why censorship resistant. The lady that cuts my hair is

1667
01:19:53,720 --> 01:19:56,639
Speaker 2: from Afghanistan. She was there when she was a girl.

1668
01:19:57,360 --> 01:19:59,760
Speaker 2: When the Biden administration pulled out in twenty twenty two,

1669
01:20:00,080 --> 01:20:02,519
Speaker 2: the disaster, the Taliban took it over. She's like, Mark,

1670
01:20:02,600 --> 01:20:04,400
Speaker 2: I just feel so bad. I know these ladies back

1671
01:20:04,400 --> 01:20:06,479
Speaker 2: in Afghanistan, they need so much help. I'd love to

1672
01:20:06,479 --> 01:20:07,960
Speaker 2: send them money if there was away, but I can't

1673
01:20:07,960 --> 01:20:12,120
Speaker 2: because the Taliban took over the bank. So it's censorship resistant.

1674
01:20:12,400 --> 01:20:16,120
Speaker 2: So in this future world, I believe to the point

1675
01:20:16,200 --> 01:20:20,040
Speaker 2: I think you believe nineteen eighty four it wasn't supposed

1676
01:20:20,080 --> 01:20:22,280
Speaker 2: to be a playbook, right, an instruction manual, but it

1677
01:20:22,280 --> 01:20:24,840
Speaker 2: seems to be that way. And in North Korea and

1678
01:20:24,920 --> 01:20:28,960
Speaker 2: in Afghanistan and the US dodged a curveball that Europe

1679
01:20:29,040 --> 01:20:31,400
Speaker 2: is trying to launch a CBDC. Now in that world

1680
01:20:31,479 --> 01:20:32,679
Speaker 2: that we're rapidly going.

1681
01:20:32,520 --> 01:20:34,680
Speaker 3: Into, we will probably need I.

1682
01:20:34,640 --> 01:20:38,320
Speaker 2: Mean, people today need a censorship resistant way to transmit value.

1683
01:20:39,600 --> 01:20:41,479
Speaker 2: And so the question that you would ask yourself is

1684
01:20:41,760 --> 01:20:43,760
Speaker 2: do you think governments print more money or less money

1685
01:20:43,760 --> 01:20:45,519
Speaker 2: in the future, and do you think they become more

1686
01:20:45,560 --> 01:20:47,360
Speaker 2: authoritarian and less authoritarian in the future.

1687
01:20:47,880 --> 01:20:49,000
Speaker 3: Now, you mentioned.

1688
01:20:48,680 --> 01:20:51,080
Speaker 2: Earlier, you know what AI is doing in the rise

1689
01:20:51,120 --> 01:20:53,080
Speaker 2: of or the divide between the rich and the poor

1690
01:20:53,120 --> 01:20:56,519
Speaker 2: and potentially leading to some sort of mass civil unrest.

1691
01:20:56,520 --> 01:20:59,240
Speaker 2: I know Verydally is super big on that topic. So

1692
01:20:59,360 --> 01:21:01,439
Speaker 2: in that if that were to happen and we got

1693
01:21:01,479 --> 01:21:03,439
Speaker 2: more civil unrest, then what do governments do. Do they

1694
01:21:03,479 --> 01:21:05,960
Speaker 2: take more power, become more authoritarian? And if so, do

1695
01:21:06,040 --> 01:21:08,439
Speaker 2: we need a way to transact outside of the state.

1696
01:21:10,880 --> 01:21:13,719
Speaker 2: Yap all strikes me as a very good idea.

1697
01:21:13,880 --> 01:21:17,360
Speaker 1: Now I'm a much bigger believer in the wrench attack,

1698
01:21:17,439 --> 01:21:18,920
Speaker 1: I think than a lot of people. If the government

1699
01:21:18,920 --> 01:21:20,799
Speaker 1: wants your bitcoin, they're going to get your bitcoin.

1700
01:21:20,960 --> 01:21:24,600
Speaker 2: They won't And here's why. So have you read the

1701
01:21:24,640 --> 01:21:29,000
Speaker 2: book Sovereign Individual? I have read like the first two chapters.

1702
01:21:29,640 --> 01:21:31,120
Speaker 2: It as a no, and you gave up on it.

1703
01:21:31,240 --> 01:21:33,080
Speaker 2: I I gave up.

1704
01:21:33,160 --> 01:21:36,840
Speaker 1: It was interesting, but other things, Yeah, it took its

1705
01:21:36,880 --> 01:21:37,880
Speaker 1: place and I never went back to it.

1706
01:21:37,920 --> 01:21:41,400
Speaker 3: So if you think about like the state, the a state.

1707
01:21:41,240 --> 01:21:44,160
Speaker 2: The country, the government has a monopoly on violence obviously, right,

1708
01:21:44,200 --> 01:21:46,639
Speaker 2: But like all things, there's trade offs and there's returns. Right.

1709
01:21:46,720 --> 01:21:48,719
Speaker 2: So like in nineteen thirty three, when the government sees

1710
01:21:48,760 --> 01:21:50,479
Speaker 2: the gold, it was very easy for them to seize

1711
01:21:50,479 --> 01:21:52,760
Speaker 2: the gold because all the goal was in the bank, right,

1712
01:21:52,800 --> 01:21:54,559
Speaker 2: So all the gold went in the bank. They gave

1713
01:21:54,560 --> 01:21:56,599
Speaker 2: you an IOU claim for the gold, so we could

1714
01:21:56,600 --> 01:21:59,439
Speaker 2: speed up the velocity of money while they held the gold.

1715
01:21:59,720 --> 01:22:01,080
Speaker 3: So it was very easy.

1716
01:22:00,840 --> 01:22:03,719
Speaker 2: For them to put a bank holiday in place. Banks

1717
01:22:03,720 --> 01:22:05,559
Speaker 2: were closed for a week. When they opened the banks

1718
01:22:05,600 --> 01:22:08,080
Speaker 2: back up, you were no longer able to get your gold. Now,

1719
01:22:08,120 --> 01:22:11,400
Speaker 2: if they had to ride out in nineteen thirties across

1720
01:22:11,400 --> 01:22:14,800
Speaker 2: the plane to ranchers and farmers with guns. They had

1721
01:22:14,800 --> 01:22:16,519
Speaker 2: to go house to house to house to house to

1722
01:22:16,560 --> 01:22:20,280
Speaker 2: house and where's your gold, go through where's your treasure map,

1723
01:22:20,320 --> 01:22:21,200
Speaker 2: and they had to go dig it up.

1724
01:22:21,439 --> 01:22:22,760
Speaker 3: Would that have been realistic?

1725
01:22:22,840 --> 01:22:24,960
Speaker 2: The return on violence would have been way too low.

1726
01:22:25,280 --> 01:22:27,160
Speaker 2: Every one of those ranchers with guns would have fought

1727
01:22:27,200 --> 01:22:29,320
Speaker 2: back the chance of them finding one or two gold coins.

1728
01:22:29,520 --> 01:22:31,439
Speaker 3: The return on violence would be too low to do that.

1729
01:22:31,520 --> 01:22:32,960
Speaker 3: But because it was in the bank, it was very

1730
01:22:32,960 --> 01:22:34,320
Speaker 3: easy to do well.

1731
01:22:34,720 --> 01:22:36,760
Speaker 2: Trying to go door to door to door and try

1732
01:22:36,800 --> 01:22:39,120
Speaker 2: to recover people's hardware, wallets, and hang people by their

1733
01:22:39,160 --> 01:22:41,040
Speaker 2: toe and tickle them until they give up their private key,

1734
01:22:41,400 --> 01:22:43,080
Speaker 2: the return of violence is just way too low. It's

1735
01:22:43,120 --> 01:22:45,439
Speaker 2: just impractical for them ever to try to achieve something

1736
01:22:45,479 --> 01:22:45,800
Speaker 2: like that.

1737
01:22:46,760 --> 01:22:50,160
Speaker 1: To cast a vote that the government won't do it

1738
01:22:50,200 --> 01:22:53,040
Speaker 1: is very different than to say that they can't do it.

1739
01:22:53,120 --> 01:22:56,000
Speaker 1: So my argument is simply anybody that's taken a lot

1740
01:22:56,000 --> 01:22:58,519
Speaker 1: of solace in that, I would say, don't if for

1741
01:22:58,600 --> 01:23:01,519
Speaker 1: whatever reason your the one that they target and come

1742
01:23:01,560 --> 01:23:03,000
Speaker 1: after they will get your bitcoin.

1743
01:23:03,200 --> 01:23:04,439
Speaker 3: So there's a couple things about that.

1744
01:23:04,520 --> 01:23:06,880
Speaker 2: So Number one they could say, hey, we'll kill you

1745
01:23:06,920 --> 01:23:08,360
Speaker 2: on site if you don't turn it in.

1746
01:23:08,640 --> 01:23:08,800
Speaker 3: Yep.

1747
01:23:08,920 --> 01:23:11,559
Speaker 2: So they did make gold illegal, right, so not only

1748
01:23:11,600 --> 01:23:13,400
Speaker 2: do we take your gold, if we catch you with gold,

1749
01:23:13,400 --> 01:23:16,800
Speaker 2: it's illegal, So they could certainly do that. I would

1750
01:23:16,840 --> 01:23:18,599
Speaker 2: say with that a couple of things, Like number one,

1751
01:23:18,720 --> 01:23:21,360
Speaker 2: when the government makes things illegal, they typically become.

1752
01:23:21,280 --> 01:23:22,439
Speaker 3: Bigger and more useful.

1753
01:23:22,439 --> 01:23:24,800
Speaker 2: So like the war on drugs since the seventies, drugs

1754
01:23:24,800 --> 01:23:27,120
Speaker 2: are a bigger problem today now. When the government tells

1755
01:23:27,200 --> 01:23:29,200
Speaker 2: you not to do drugs, it doesn't make you want

1756
01:23:29,200 --> 01:23:31,400
Speaker 2: to do drugs. But when they tell you don't have

1757
01:23:31,400 --> 01:23:32,560
Speaker 2: a right to story your wealth in a way we

1758
01:23:32,600 --> 01:23:34,800
Speaker 2: can't steal and confiscate from you, this sort of makes

1759
01:23:34,840 --> 01:23:35,240
Speaker 2: you want to.

1760
01:23:35,360 --> 01:23:37,280
Speaker 3: Just like every time they talk about imposing.

1761
01:23:36,840 --> 01:23:39,960
Speaker 2: New gun laws, what happens with gun sales. So number one,

1762
01:23:40,000 --> 01:23:43,120
Speaker 2: you have human psychology and motivation. Number two, with drugs,

1763
01:23:43,360 --> 01:23:45,800
Speaker 2: drugs have to be their physical items that have to

1764
01:23:45,800 --> 01:23:48,320
Speaker 2: be grown and cultivated and packaged and shipped and smuggled

1765
01:23:48,320 --> 01:23:51,600
Speaker 2: and distributed. Whereas bitcoin is completely the digital peer to

1766
01:23:51,600 --> 01:23:52,679
Speaker 2: peer and can't be traced.

1767
01:23:52,479 --> 01:23:54,280
Speaker 3: Or tracked, So how do they stop that. They can't

1768
01:23:54,280 --> 01:23:58,080
Speaker 3: even keep drugs out of a prison. So I think

1769
01:23:58,080 --> 01:23:58,960
Speaker 3: it's just impractical.

1770
01:23:59,040 --> 01:24:02,400
Speaker 2: I think technolo happens is technology moves faster than the state.

1771
01:24:03,720 --> 01:24:07,000
Speaker 2: So you have three D gun schematics, Well they can

1772
01:24:07,040 --> 01:24:09,520
Speaker 2: make those illegal. Well now they're on the bitcoin blockchain

1773
01:24:10,160 --> 01:24:13,080
Speaker 2: and there's some supersistent for all of humanity. How does

1774
01:24:13,080 --> 01:24:14,800
Speaker 2: the government do that? So when they try to, I

1775
01:24:14,800 --> 01:24:16,680
Speaker 2: think what happens when the government tries to move on

1776
01:24:16,720 --> 01:24:19,240
Speaker 2: technologies that are moving and advancing faster than they are,

1777
01:24:19,560 --> 01:24:25,599
Speaker 2: it makes the state look irrelevant and incompetent. But you've

1778
01:24:26,000 --> 01:24:27,599
Speaker 2: interviewed a lot of people with bitcoin. My good friend

1779
01:24:27,680 --> 01:24:30,479
Speaker 2: Robert Breedlove, I know you've. I had Sailor on a

1780
01:24:30,560 --> 01:24:34,360
Speaker 2: couple of times as well, and he calls bitcoin digital energy.

1781
01:24:35,920 --> 01:24:37,760
Speaker 2: He has some really good metaphors. I mean, he's an

1782
01:24:37,760 --> 01:24:40,880
Speaker 2: amazing mind. I love the part where he told you

1783
01:24:40,880 --> 01:24:41,320
Speaker 2: you said.

1784
01:24:41,200 --> 01:24:42,480
Speaker 3: But what about all these other cryptocurrency?

1785
01:24:42,479 --> 01:24:43,800
Speaker 2: He says, how many chairs do you have? You're just

1786
01:24:43,840 --> 01:24:44,840
Speaker 2: sitting in one chair? Right?

1787
01:24:46,439 --> 01:24:48,280
Speaker 3: Yes? The meme.

1788
01:24:48,680 --> 01:24:51,800
Speaker 2: Yeah, but when you think about it like that as

1789
01:24:51,880 --> 01:24:55,760
Speaker 2: digital energy, and then you think about like storing that

1790
01:24:55,960 --> 01:24:59,439
Speaker 2: energy for a long period of time, especially in today's

1791
01:24:59,520 --> 01:25:02,000
Speaker 2: day and age, or going into this AI age. There

1792
01:25:02,040 --> 01:25:05,799
Speaker 2: was this sort of deep Seek moment that was April

1793
01:25:05,840 --> 01:25:08,200
Speaker 2: twenty seventh? Was it where all of a sudden Deep

1794
01:25:08,240 --> 01:25:09,920
Speaker 2: Seek was dropped into the world and it sort of

1795
01:25:10,640 --> 01:25:13,320
Speaker 2: caused Nvidia to crash And it sort of made the

1796
01:25:13,360 --> 01:25:15,320
Speaker 2: whole world kind of step back and go, are we

1797
01:25:15,680 --> 01:25:19,360
Speaker 2: pricing assets properly? Because couldn't a bunch of wealth leave

1798
01:25:19,400 --> 01:25:22,120
Speaker 2: the nasdak can go to China and if they need

1799
01:25:22,200 --> 01:25:25,040
Speaker 2: less in Vidia chips, do we have in Vidia price right?

1800
01:25:25,200 --> 01:25:27,000
Speaker 2: And it sort of made everybody sort of look at

1801
01:25:27,000 --> 01:25:30,120
Speaker 2: everything differently. And I'm curious, through your talks and bitcoin

1802
01:25:30,240 --> 01:25:34,080
Speaker 2: with Sailor and others, do you think it eventually reprices

1803
01:25:34,680 --> 01:25:37,840
Speaker 2: assets like investment assets as we know them. It's a

1804
01:25:37,880 --> 01:25:40,640
Speaker 2: good question on a long enough timeline. I honestly don't know.

1805
01:25:40,840 --> 01:25:44,080
Speaker 2: That isn't the way that I think about bitcoin. To me,

1806
01:25:44,240 --> 01:25:47,760
Speaker 2: I take a very simple approach, which is that you've

1807
01:25:47,760 --> 01:25:51,519
Speaker 2: got inflation. Inflation is the problem of the modern era,

1808
01:25:51,720 --> 01:25:54,559
Speaker 2: like the problem the number of things that I think

1809
01:25:54,720 --> 01:25:58,400
Speaker 2: emanate from the fact that government's deficits, spend and then

1810
01:25:58,479 --> 01:26:01,840
Speaker 2: print to not how to engage the voting public with

1811
01:26:01,920 --> 01:26:08,440
Speaker 2: their choices is deeply problematic. So to me, bitcoin solves

1812
01:26:08,600 --> 01:26:12,000
Speaker 2: that incredible problem, and it solves it in a moment.

1813
01:26:12,120 --> 01:26:14,320
Speaker 3: Where as it's being.

1814
01:26:16,040 --> 01:26:21,120
Speaker 1: Effectively repriced by the wild inflation of the dollar, combined

1815
01:26:21,200 --> 01:26:24,639
Speaker 1: with the growing awareness and demand for bitcoin, you get

1816
01:26:24,640 --> 01:26:27,400
Speaker 1: this incredible run up for people that are able to

1817
01:26:27,439 --> 01:26:30,439
Speaker 1: withstand the temporary volatility. So I look at it in

1818
01:26:30,520 --> 01:26:33,720
Speaker 1: that perspective. I ultimately want bitcoin to become an incredibly

1819
01:26:33,760 --> 01:26:36,120
Speaker 1: boring asset. I want it to be a place where

1820
01:26:36,160 --> 01:26:39,840
Speaker 1: I can put my money and I know that the

1821
01:26:39,880 --> 01:26:42,760
Speaker 1: amount of output I got from a unit of my

1822
01:26:42,880 --> 01:26:43,519
Speaker 1: time in the.

1823
01:26:43,439 --> 01:26:45,080
Speaker 3: Past holds that value.

1824
01:26:45,960 --> 01:26:48,120
Speaker 1: Because then, and this is a big part of my

1825
01:26:48,200 --> 01:26:52,080
Speaker 1: thesis right now, the reason that the average American doesn't

1826
01:26:52,120 --> 01:26:53,720
Speaker 1: invest in the stock market, and if they do, they

1827
01:26:53,760 --> 01:26:57,519
Speaker 1: certainly don't invest very much, is because they don't understand it.

1828
01:26:57,520 --> 01:27:00,280
Speaker 1: It's just complicated enough that they're never going to understand it.

1829
01:27:00,320 --> 01:27:04,200
Speaker 1: And so I think a government has a moral obligation

1830
01:27:04,880 --> 01:27:09,280
Speaker 1: to give their citizens an opportunity to just save their

1831
01:27:09,560 --> 01:27:11,720
Speaker 1: money in a way where it's not going to go

1832
01:27:11,800 --> 01:27:14,200
Speaker 1: down in value. Once you do that, I think a

1833
01:27:14,200 --> 01:27:15,200
Speaker 1: lot of problems go away.

1834
01:27:15,280 --> 01:27:15,439
Speaker 3: Now.

1835
01:27:15,479 --> 01:27:17,960
Speaker 2: People that are fiscally responsible, they're going to save their money.

1836
01:27:17,960 --> 01:27:19,800
Speaker 1: It's not going to be eaten by inflation. There's going

1837
01:27:19,840 --> 01:27:22,760
Speaker 1: to be a benefit for them to do that. So

1838
01:27:23,400 --> 01:27:27,000
Speaker 1: that's the thesis the lens through which I look at bitcoin. Now,

1839
01:27:27,120 --> 01:27:30,280
Speaker 1: whether it ends up gobbling up more and more of

1840
01:27:30,320 --> 01:27:32,880
Speaker 1: these assets, I don't see how it couldn't. For somebody

1841
01:27:32,920 --> 01:27:36,280
Speaker 1: like me, who might otherwise consider rolling the dice on

1842
01:27:36,520 --> 01:27:39,479
Speaker 1: a piece of art, I would much rather be in

1843
01:27:39,720 --> 01:27:42,320
Speaker 1: certainly my future vision of bitcoin, where it becomes far

1844
01:27:42,400 --> 01:27:45,000
Speaker 1: less risky. So people that are trying to build wealth

1845
01:27:45,200 --> 01:27:47,320
Speaker 1: right now are going to go for bitcoin, but hopefully

1846
01:27:47,320 --> 01:27:50,920
Speaker 1: one day that's like a way more stable play, and

1847
01:27:50,960 --> 01:27:52,880
Speaker 1: so that's not where they're focused on. And that way,

1848
01:27:52,960 --> 01:27:55,880
Speaker 1: we really begin to have assets that are low risk,

1849
01:27:55,920 --> 01:27:57,720
Speaker 1: and we have assets that are higher risk, and the

1850
01:27:57,760 --> 01:28:00,880
Speaker 1: people that want to accept the consequences of getting that wrong,

1851
01:28:01,760 --> 01:28:03,120
Speaker 1: they can go do it. I think people should be

1852
01:28:03,120 --> 01:28:06,400
Speaker 1: able to spend their money however they want. But I

1853
01:28:06,520 --> 01:28:08,280
Speaker 1: have not put a lot of thought into like how

1854
01:28:08,360 --> 01:28:10,640
Speaker 1: much do I think that this just keeps gobbling up

1855
01:28:10,680 --> 01:28:12,800
Speaker 1: the world. Because I didn't buy it because I thought,

1856
01:28:12,840 --> 01:28:13,960
Speaker 1: oh my god, this is going to go up an

1857
01:28:14,000 --> 01:28:16,639
Speaker 1: insane amount of value. I bought it because I thought

1858
01:28:16,680 --> 01:28:21,439
Speaker 1: tomorrow would be more digital than today, and that you

1859
01:28:21,680 --> 01:28:23,160
Speaker 1: have to have an escape from inflation.

1860
01:28:23,280 --> 01:28:28,880
Speaker 2: You have to Yeah, you've interviewed over six hundred high performers. Congratulations.

1861
01:28:28,960 --> 01:28:31,200
Speaker 2: That number, by the way, generate over a billion views.

1862
01:28:31,880 --> 01:28:34,920
Speaker 2: And you've pulled yourself from scrounging on couch cushions to

1863
01:28:35,000 --> 01:28:37,960
Speaker 2: a billion a billion dollar business exiting a billion dollar business.

1864
01:28:39,080 --> 01:28:42,280
Speaker 2: You showed on Twitter or on x your top ten

1865
01:28:42,439 --> 01:28:45,240
Speaker 2: favorite interviews of all time, and so they weren't ranked

1866
01:28:45,240 --> 01:28:47,679
Speaker 2: in any particular order. But I noticed that like five

1867
01:28:47,720 --> 01:28:51,200
Speaker 2: of those people were money guys and two of those

1868
01:28:51,280 --> 01:28:55,040
Speaker 2: were like future tech guys. So I was going to

1869
01:28:55,120 --> 01:28:56,920
Speaker 2: ask you if you had to distill everything you've learned

1870
01:28:56,920 --> 01:29:02,400
Speaker 2: into a single mind blowing insight that might be left

1871
01:29:02,400 --> 01:29:05,320
Speaker 2: thinking about for a few days, what would that be?

1872
01:29:05,680 --> 01:29:11,439
Speaker 1: Nothing matters other than thinking from first principles, that is.

1873
01:29:11,360 --> 01:29:13,920
Speaker 2: To formulate your own devastating.

1874
01:29:15,200 --> 01:29:15,760
Speaker 3: Yes it.

1875
01:29:16,120 --> 01:29:18,479
Speaker 1: First principle is a little deeper than that. First principles

1876
01:29:18,560 --> 01:29:21,479
Speaker 1: is the world works on a set of rules. We'll

1877
01:29:21,479 --> 01:29:26,840
Speaker 1: call them the laws of physics and everything on that. Yes,

1878
01:29:27,320 --> 01:29:33,639
Speaker 1: they are the axioms that we cannot disprove. And once

1879
01:29:33,760 --> 01:29:36,800
Speaker 1: you understand that life is a big chain of cause

1880
01:29:36,840 --> 01:29:40,200
Speaker 1: and effect that we can't go all the way back

1881
01:29:40,240 --> 01:29:43,439
Speaker 1: because we don't under fully understand physics. But man, you

1882
01:29:44,120 --> 01:29:47,160
Speaker 1: can really think like an engineer, which is the right way,

1883
01:29:47,200 --> 01:29:49,679
Speaker 1: even if you're playing a game of psychology. The human

1884
01:29:49,680 --> 01:29:52,120
Speaker 1: mind works in a certain way. It's complex, a lot

1885
01:29:52,160 --> 01:29:54,080
Speaker 1: of variables, but it works.

1886
01:29:53,760 --> 01:29:54,880
Speaker 2: In a knowable way.

1887
01:29:55,640 --> 01:30:01,799
Speaker 1: And so if you focus obsessively on mapping that, well,

1888
01:30:02,479 --> 01:30:07,599
Speaker 1: then you can get as close to having a crystal

1889
01:30:07,600 --> 01:30:10,720
Speaker 1: ball as you're ever going to get. And it's almost

1890
01:30:11,000 --> 01:30:14,559
Speaker 1: the guests that I have really fall into two gigantic camps.

1891
01:30:14,800 --> 01:30:17,160
Speaker 2: There are people that are just worried about the.

1892
01:30:17,160 --> 01:30:19,720
Speaker 1: Laws of physics in their own mind, Like, here are

1893
01:30:19,800 --> 01:30:23,040
Speaker 1: the things that I'm up against, David Goggins. I figured

1894
01:30:23,080 --> 01:30:25,320
Speaker 1: out how to master my own mind. Cool, You've got

1895
01:30:25,320 --> 01:30:27,880
Speaker 1: the physics of your mind, and given that, you've been

1896
01:30:27,880 --> 01:30:30,360
Speaker 1: able to lead an extraordinary life because you understood how

1897
01:30:30,360 --> 01:30:33,800
Speaker 1: to deal with your own limitations, your cognitive biases, all

1898
01:30:33,800 --> 01:30:34,040
Speaker 1: of that.

1899
01:30:34,439 --> 01:30:35,080
Speaker 3: Then there are.

1900
01:30:34,920 --> 01:30:39,920
Speaker 1: People that do an external thing where they master money,

1901
01:30:39,960 --> 01:30:41,240
Speaker 1: they master business.

1902
01:30:41,680 --> 01:30:42,639
Speaker 3: It's the same game.

1903
01:30:42,920 --> 01:30:45,719
Speaker 1: You're trying to figure out, how does this thing actually work?

1904
01:30:46,439 --> 01:30:48,200
Speaker 1: How do I get my emotions out of the way,

1905
01:30:48,240 --> 01:30:50,479
Speaker 1: and how do I think from first principles? And I

1906
01:30:50,560 --> 01:30:53,000
Speaker 1: have a feeling no matter how many people I interview,

1907
01:30:53,040 --> 01:30:55,280
Speaker 1: they're going to use different words, but they're all going

1908
01:30:55,320 --> 01:30:58,160
Speaker 1: to be people who did that thing either on a

1909
01:30:58,280 --> 01:31:03,080
Speaker 1: really granular subject. Take Annie Jacobs, I believe is her name,

1910
01:31:03,320 --> 01:31:06,160
Speaker 1: and she's walking you through the first principles of nuclear

1911
01:31:06,200 --> 01:31:08,640
Speaker 1: war and what it looks like, and like why we

1912
01:31:08,720 --> 01:31:10,600
Speaker 1: have to avoid it and all that stuff again just

1913
01:31:10,640 --> 01:31:14,400
Speaker 1: cause and effect. Eric Weinstein is literally walking you through

1914
01:31:14,439 --> 01:31:21,160
Speaker 1: the laws of physics. Michael Sailor how bitcoin is financial energy,

1915
01:31:21,160 --> 01:31:25,120
Speaker 1: and he's literally using the language of physics. Ray Dalio saying,

1916
01:31:25,160 --> 01:31:26,600
Speaker 1: I figured out how this game worked, and so I

1917
01:31:26,600 --> 01:31:28,680
Speaker 1: can point you five hundred years backwards to explain it,

1918
01:31:29,000 --> 01:31:30,800
Speaker 1: and I can tell you, given these cycles, what it's

1919
01:31:30,840 --> 01:31:33,800
Speaker 1: going to look like moving forward. It's like all of

1920
01:31:33,840 --> 01:31:38,320
Speaker 1: the really just incredible banger guests are people that I'm like, oh,

1921
01:31:38,600 --> 01:31:40,639
Speaker 1: you know where you're trying to end up, and you're

1922
01:31:40,680 --> 01:31:43,600
Speaker 1: just thinking from first principles with an understanding that you

1923
01:31:43,600 --> 01:31:45,840
Speaker 1: can master a set of skills that allow you to

1924
01:31:45,880 --> 01:31:48,120
Speaker 1: do something in your own mind or in the real

1925
01:31:48,160 --> 01:31:50,240
Speaker 1: world that works better than the next person.

1926
01:31:50,600 --> 01:31:53,080
Speaker 2: Yeah, and everyone should figure that out for themselves.

1927
01:31:53,520 --> 01:31:56,799
Speaker 1: I mean, it's really universal, but you have to figure

1928
01:31:56,800 --> 01:31:59,600
Speaker 1: out how to get out of your own way, with

1929
01:31:59,760 --> 01:32:04,120
Speaker 1: your own cognitive limitations, biases, distorted frame of reference, so

1930
01:32:04,160 --> 01:32:07,600
Speaker 1: it will be an end of one experiment, but you're

1931
01:32:07,920 --> 01:32:10,680
Speaker 1: seeking the truly universal.

1932
01:32:12,280 --> 01:32:13,240
Speaker 3: Got it, all right?

1933
01:32:14,400 --> 01:32:16,680
Speaker 2: I think this might be my longest interview ever, So

1934
01:32:16,720 --> 01:32:18,760
Speaker 2: I apologies only because I kept taking it was.

1935
01:32:18,760 --> 01:32:20,680
Speaker 3: Good, It was really good. It was really good. So

1936
01:32:20,720 --> 01:32:24,040
Speaker 3: we'll end it with that. Tom. Obviously, we'll link your

1937
01:32:24,040 --> 01:32:25,720
Speaker 3: stuff down below. I'm su everybody already knows where to

1938
01:32:25,720 --> 01:32:28,560
Speaker 3: find you, I hope, so at Tom, Bill you wherever

1939
01:32:29,400 --> 01:32:31,280
Speaker 3: you go. All right, Thanks, thank you,