WEBVTT - Elon Did It

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, radio news.

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<v Speaker 2>Oh, let me tell you we have a new star.

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<v Speaker 2>A star is born. Eylan Now he is Now, he's

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<v Speaker 2>an amazing guy.

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<v Speaker 3>Well, Jlon Muski is now the richest person on the planet.

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<v Speaker 2>More than half the satellites in space are owned and

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<v Speaker 2>controlled by one.

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<v Speaker 3>Man starting his own artificial intelligence company.

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<v Speaker 2>Well, he's a legitimate super genius. I mean legitimate.

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<v Speaker 3>He says he's always voted for Democrats, but this year

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<v Speaker 3>it will be different.

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<v Speaker 1>He'll vote Republican.

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<v Speaker 3>There is a reason the US government is so reliant

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<v Speaker 3>on him.

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<v Speaker 2>Alon Musk is a scam artist and he's done nothing.

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<v Speaker 4>Anything he does is fascinating people.

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<v Speaker 3>Yeah, welcome to Elon Ink, Bloomberg's weekly podcast about Elon Musk.

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<v Speaker 2>It's Wednesday, November sixth.

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<v Speaker 3>You are hearing a little snippet from Donald Trump's victory

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<v Speaker 3>speech very early this morning, in which he thanked his

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<v Speaker 3>main backer, who also happens to be the subject of

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<v Speaker 3>this podcast. I'm Max Chafkin, sitting in for David Popadopolis

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<v Speaker 3>and joining me from San Francisco, where I think she's

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<v Speaker 3>been up for most of the early morning is Dana Hall. Hey.

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<v Speaker 3>Dana Hey, you sound so energized, you sound.

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<v Speaker 2>Ready to ready to go. How late did you stay up?

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<v Speaker 2>I stayed up.

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<v Speaker 1>Until after midnight and then went to bed when it

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<v Speaker 1>seemed pretty clear that the race was called and the

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<v Speaker 1>brute blue wall was crumbling. And then I just didn't

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<v Speaker 1>really sleep very well and just woke up this morning

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<v Speaker 1>and I'm still just kind of like processing mentally what

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<v Speaker 1>this all means. I mean, we've been doing this podcast

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<v Speaker 1>for a year, and when we started it, I think

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<v Speaker 1>it was because we knew that Musk's you know, influence

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<v Speaker 1>in business, technology and all the different industries that he's

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<v Speaker 1>disrupted was only growing more strong. I did not think

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<v Speaker 1>a year ago that we would be sitting here, you know,

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<v Speaker 1>right after a blowout election with Musk being a main player.

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<v Speaker 3>The Department of Government Efficiency was spinning up to start

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<v Speaker 3>cutting vast swats of the federal bureaucracy, or at least

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<v Speaker 3>that's what Donald Trump and Elon Musk have suggested. I mean,

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<v Speaker 3>do you think it's fair to say that Elon won

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<v Speaker 3>this election for Trump?

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<v Speaker 1>Like?

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<v Speaker 2>How much credit should we give him?

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<v Speaker 3>He was Trump's biggest financial backer, I'd say his most

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<v Speaker 3>important media backer. Obviously a huge ally but like, what's

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<v Speaker 3>your just like quick reaction to what this means for

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<v Speaker 3>Elon or for Trump or for the country.

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<v Speaker 1>I mean, yes, I think that. Well, it's tricky. If

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<v Speaker 1>it had been narrower, like if Trump had won Pennsylvania

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<v Speaker 1>but lost in a lot of other states, then we

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<v Speaker 1>could say that absolutely this was all Musk's influence, because

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<v Speaker 1>Musk really focused on Pennsylvania, but Trump gained everywhere. So

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<v Speaker 1>you know, it's so it's hard to quantify what Musk's

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<v Speaker 1>influence was, but there's no doubt that Musk kind of

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<v Speaker 1>created a permission structure for people who maybe would never

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<v Speaker 1>have looked at Donald Trump to look at him among

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<v Speaker 1>Tesla owners and SpaceX fans and tech people and other

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<v Speaker 1>CEOs and people like Jeff Bezos, and he sort of

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<v Speaker 1>like opened the window to be like listen, like you know,

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<v Speaker 1>I'm I'm like all in on being mega. And he

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<v Speaker 1>did so many things, going to the Butler rally, speaking

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<v Speaker 1>at Madison Square Garden using X which he bought during

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<v Speaker 1>the midterms in twenty twenty two, to like really you know,

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<v Speaker 1>kind of ally with the Trump talking points, and so,

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<v Speaker 1>you know, it's hard to quantify what the impact was,

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<v Speaker 1>but it was enormous.

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<v Speaker 3>Yeah, I mean, I just think at the top line,

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<v Speaker 3>it was just a huge win for a guy who

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<v Speaker 3>obviously has had a lot of success in other domains

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<v Speaker 3>but not in politics. And and you know, you just

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<v Speaker 3>have to sort of appreciate how sort of brazen this was,

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<v Speaker 3>and how how bold you know in a way that

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<v Speaker 3>like I guess Elon Musk has has made his kind

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<v Speaker 3>of signature. I mean, he he went in bigger for

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<v Speaker 3>Donald Trump than I think anybody probably outside of like

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<v Speaker 3>this podcast.

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<v Speaker 2>Would have expected.

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<v Speaker 3>He went harder to the right then I think almost

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<v Speaker 3>anyone who's backed him or has you know, journalists who've

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<v Speaker 3>covered him expected, and it looked very dangerous. And and

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<v Speaker 3>now I mean he's he's sitting pretty you know how

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<v Speaker 3>much influence he had, you put that aside.

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<v Speaker 2>He backed the right horse.

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<v Speaker 1>Oh yeah, and you look at Tesla stock today is

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<v Speaker 1>like skyrocketing. And Musk was at mar A Lago last night.

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<v Speaker 1>I mean, I think what surprised me was that, you know,

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<v Speaker 1>you and I had been kind of like wargaming, like

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<v Speaker 1>the scenarios, and yesterday it was this really funny day

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<v Speaker 1>where Musk was supposed to have a town hall at

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<v Speaker 1>noon that like came and went and there was like

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<v Speaker 1>no sign of the town hall, and I was like, oh,

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<v Speaker 1>what's going on? And then all of a sudden, he's

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<v Speaker 1>like doing the town hall from his plane as he's

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<v Speaker 1>flying from you know, Texas where he voted to tomorrow Algo,

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<v Speaker 1>And I mean you and I were listening to that together,

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<v Speaker 1>Like he was sounding kind of cautious. He's like, well, like,

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<v Speaker 1>I'm optimistic that will prevail in Pennsylvania if like men

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<v Speaker 1>get out and vote, and like we're giving rides to

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<v Speaker 1>the Amish to make sure that they have transportation to

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<v Speaker 1>the polls because they're not allowed to drive themselves. And

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<v Speaker 1>I was like, Okay, this doesn't sound this doesn't sound

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<v Speaker 1>so great. Like I felt like he was sort of

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<v Speaker 1>spinning it as like not a potential loss, but like

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<v Speaker 1>he wasn't. I don't know he was being caught. He

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<v Speaker 1>was sort of being cautious.

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<v Speaker 3>For protecting confidence in any sense, right, it sounded he

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<v Speaker 3>was dower elon there on the flight tomorrow a Lago.

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<v Speaker 1>I thought, Yeah, I felt like he was being like

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<v Speaker 1>cautiously optimistic. And I think that this is the thing

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<v Speaker 1>about that that Tesla fans will say, like don't bet

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<v Speaker 1>against Elon, Like he will put all of his chips

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<v Speaker 1>on the table. When he has like conviction, he will

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<v Speaker 1>make a decision and stick to it and nothing will

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<v Speaker 1>sway him. And it might seem crazy from the outside,

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<v Speaker 1>but like he has veiled in business and technology and

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<v Speaker 1>capitalism and now basically being like an oligarch because he

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<v Speaker 1>does have this like conviction that is kind of fearless

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<v Speaker 1>in the in the business world, and it's like just

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<v Speaker 1>this fearlessness that he is right. And I think that

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<v Speaker 1>you know, what I would like people who listen to

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<v Speaker 1>this podcast to take away is that he bought Twitter

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<v Speaker 1>and then he basically had a massive influence on the election,

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<v Speaker 1>and the two go hand in hand obviously, And like

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<v Speaker 1>we live in a very increasingly fractured media environment and

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<v Speaker 1>you can't overstate the impact of Musk owning Twitter.

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<v Speaker 3>Yeah, I mean, the thing I was thinking of, there's

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<v Speaker 3>so much to talk about, and I'm sure we will

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<v Speaker 3>get to all of it, you know, on the coming

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<v Speaker 3>episodes and in the next episode of Citizen Elon and

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<v Speaker 3>probably for the next four years.

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<v Speaker 2>But like for me, you know, people have.

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<v Speaker 3>Been talking about the sort of money and politics. Basically

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<v Speaker 3>my entire life, and I feel like this is the

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<v Speaker 3>most It's like, this is like the most extreme version.

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<v Speaker 2>We have never seen anything like this.

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<v Speaker 3>You know, a lot of people during Trump's first presidency

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<v Speaker 3>became much more powerful. You know, Jared Kushner became more powerful,

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<v Speaker 3>Peter Tiel became more powerful.

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<v Speaker 2>Elon Musk before.

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<v Speaker 3>This was more powerful than any of those guys. And

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<v Speaker 3>now you know, he's vaulted to a level of influence

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<v Speaker 3>that I think you're right. I think we have to

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<v Speaker 3>sort of think about it in the in the oligarch terms.

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<v Speaker 3>He's both a state actor and a very very wealthy

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<v Speaker 3>capitalist and that's something that you know, Trump is going

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<v Speaker 3>to have to contend with, Democrats are going to have

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<v Speaker 3>to contend with, and you know, citizens of the United

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<v Speaker 3>States and the world will contend with over the next

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<v Speaker 3>four years. Well.

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<v Speaker 1>And he's really like a trans national or trans state actor,

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<v Speaker 1>Like he has incredible you know ties to China with

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<v Speaker 1>Starlink operates in one hundred and over one hundred countries.

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<v Speaker 1>He is, you know, getting lithium from from countries all

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<v Speaker 1>over the world, and he has an enormous amount of

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<v Speaker 1>power and leverage. And if you believe that Trump is transaction.

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<v Speaker 1>I mean, it's very clear that the two of them

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<v Speaker 1>are going to work together. I mean this and I

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<v Speaker 1>know we you know, people have joked about this whole

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<v Speaker 1>Department of Government efficiency and the cost cutting, but I

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<v Speaker 1>think it's very real. I mean, I think that Elon

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<v Speaker 1>is gonna really reshape the federal government and he's going

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<v Speaker 1>to have carte blanche to do so. The Republicans also

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<v Speaker 1>won the Senate. It looks like they might hang onto

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<v Speaker 1>the house like this is a guy who you know

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<v Speaker 1>is not shy about you know, walk. Yeah, I mean

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<v Speaker 1>the way that he has fired or let go of

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<v Speaker 1>people at his companies is could very be very similar

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<v Speaker 1>to the to the kind of way that he approaches

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<v Speaker 1>the federal government.

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<v Speaker 2>Yeah, let's talk about that for a minute. And I

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<v Speaker 2>think we need to.

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<v Speaker 3>It's really going to be more today a day, you know,

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<v Speaker 3>less than twelve hours after the election was called. We're

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<v Speaker 3>more just like starting to think about what questions are

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<v Speaker 3>going to be asked. We don't know that much. I

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<v Speaker 3>think the people who are on Trump's transition team don't

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<v Speaker 3>know that much. Right this the this is this stuff is.

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<v Speaker 2>Beginning right now.

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<v Speaker 3>Dan during the that that Twitter spaces that X space

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<v Speaker 3>is on the flight tomorrow.

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<v Speaker 2>Lago. So Elon Musk started the day in Texas.

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<v Speaker 3>He voted in South Texas where he has his little house,

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<v Speaker 3>you know, where SpaceX's launch facility is. He got on

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<v Speaker 3>the plane, he had this spaces They talked a lot

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<v Speaker 3>about the election and how it was going. There was

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<v Speaker 3>this moment I wanted to just put focus on for

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<v Speaker 3>a minute when Elon Musk talked about the America Pack

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<v Speaker 3>going forward.

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<v Speaker 2>Let's just listen to that tape.

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<v Speaker 4>So America Pack is is going to keep going to

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<v Speaker 4>out the selection and pre preparing for the mid terms

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<v Speaker 4>and any intermediate elections, as well as looking at elections

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<v Speaker 4>at the district attorney level and you know, basically a

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<v Speaker 4>judicial sort of level, because I think something needs to

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<v Speaker 4>be done to kind of counter the damage that Stars

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<v Speaker 4>is done to the American system.

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<v Speaker 3>Dana we called this, I mean right, this is the

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<v Speaker 3>America Pack is going to be a big political force

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<v Speaker 3>going forward.

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<v Speaker 2>That's what I take away from this, Uh this clip.

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<v Speaker 1>Oh yeah, this this was not a one off. And

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<v Speaker 1>when he's talking about Soros, he's he's obviously referring to

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<v Speaker 1>George Soros, the financier who has funded several campaigns, including

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<v Speaker 1>many progressive district attorneys and cities across the country, including

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<v Speaker 1>the one in Philadelphia that tried to kind of stop

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<v Speaker 1>the pack from giving the million dollar giveaways. So so

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<v Speaker 1>I think that what Musk is basically saying is, look,

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<v Speaker 1>money has always existed in politics. George Soros has funded

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<v Speaker 1>a lot of campaigns on the left. Musk sees himself

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<v Speaker 1>as like a countervailing uh point to that, Like, and

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<v Speaker 1>now he's it, He's in it. He's going to be

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<v Speaker 1>he's going to be eyeing the midterms. He's going to

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<v Speaker 1>be involved in local races. You know, I'm curious to

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<v Speaker 1>see if any people who work at as current companies

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<v Speaker 1>are now going to be dispatched to work at his pack.

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<v Speaker 1>I mean, he's he going to pick the best of

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<v Speaker 1>the brightest and be like you do the data analysis

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<v Speaker 1>on this on this precinct, Like, I mean, you know,

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<v Speaker 1>working for Elon means that you have to be willing

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<v Speaker 1>to kind of go wherever he wants you to go.

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<v Speaker 1>And it's almost like he started a seventh company.

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<v Speaker 3>Absolutely, And you know it's on one hand, you might say,

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<v Speaker 3>is he really going to spend you know, one hundred

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<v Speaker 3>plus million dollars every two years on politics, which is

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<v Speaker 3>kind of what you know, he's indicated he wants to

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<v Speaker 3>be the anti Soros. This this, this comment here suggests

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<v Speaker 3>to be a major donor. You might say, oh, like

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<v Speaker 3>Elon Musk is not gonna want to throw away that

0:11:19.600 --> 0:11:21.560
<v Speaker 3>much money. But you know, you look at the price

0:11:21.559 --> 0:11:25.240
<v Speaker 3>of Tesla's stock this morning, and as we're recording, it's

0:11:25.320 --> 0:11:28.920
<v Speaker 3>up thirteen and a half percent. Roughly he has he

0:11:29.000 --> 0:11:31.719
<v Speaker 3>has made his net worth has gone up by I

0:11:31.760 --> 0:11:34.840
<v Speaker 3>don't know, somewhere between ten and fifteen billion dollars just

0:11:34.880 --> 0:11:37.200
<v Speaker 3>in terms of his Tesla stock ownership as well. If

0:11:37.240 --> 0:11:39.040
<v Speaker 3>you just look at this as like a pure return

0:11:39.080 --> 0:11:42.560
<v Speaker 3>on investment, one hundred and eighty five million for fifteen billion, like,

0:11:42.600 --> 0:11:47.079
<v Speaker 3>it looks pretty good.

0:11:49.679 --> 0:11:52.679
<v Speaker 1>Trump's win was a decisive victory. I mean, there's no

0:11:52.840 --> 0:11:55.000
<v Speaker 1>split Like he won the popular vote, he won the

0:11:55.000 --> 0:11:58.360
<v Speaker 1>electoral college. There's no race that's still being contested. It

0:11:58.400 --> 0:12:01.280
<v Speaker 1>was a decisive win for Trump. He won across all

0:12:01.280 --> 0:12:05.320
<v Speaker 1>demographic groups except for black women. And you know that's like,

0:12:05.480 --> 0:12:08.000
<v Speaker 1>that's that's pretty striking, and that's that's that's something that

0:12:08.080 --> 0:12:10.720
<v Speaker 1>I don't think, you know, any of the pundit class

0:12:10.800 --> 0:12:13.840
<v Speaker 1>saw and and I think that this is also just

0:12:13.880 --> 0:12:16.880
<v Speaker 1>a win for X, like because Musk is really going

0:12:16.920 --> 0:12:21.480
<v Speaker 1>to position X as the leading platform for news. Now. Granted,

0:12:22.040 --> 0:12:24.520
<v Speaker 1>you know, we've written a lot here at Bloomberg about

0:12:24.520 --> 0:12:28.040
<v Speaker 1>the disinformation on that platform, but it is a hugely

0:12:28.080 --> 0:12:31.480
<v Speaker 1>influential platform, and it's like a win. It's just a

0:12:31.559 --> 0:12:34.040
<v Speaker 1>huge win for Elon that the platform exists, that he

0:12:34.080 --> 0:12:36.680
<v Speaker 1>was able to buy it, even though advertisers have left

0:12:36.679 --> 0:12:39.520
<v Speaker 1>and a lot of high value users have left. It

0:12:39.000 --> 0:12:43.439
<v Speaker 1>is now going to be driving the conversation in Trump World,

0:12:43.679 --> 0:12:46.200
<v Speaker 1>and it's almost kind of become what Truth's social never

0:12:46.320 --> 0:12:47.640
<v Speaker 1>quite fully realized.

0:12:48.200 --> 0:12:50.960
<v Speaker 3>So, Dana, what do we think is actually going to happen,

0:12:52.280 --> 0:12:55.520
<v Speaker 3>you know now? Like like, I mean, obviously Elon Musk,

0:12:56.040 --> 0:12:58.560
<v Speaker 3>Donald Trump does not become present till early next year,

0:12:58.960 --> 0:13:03.360
<v Speaker 3>you know, I assume Elon Musk doesn't start his job

0:13:03.720 --> 0:13:05.320
<v Speaker 3>or it's not even clear if he has a job

0:13:05.480 --> 0:13:08.160
<v Speaker 3>within the Trump White House yet. I mean, what are

0:13:08.200 --> 0:13:11.880
<v Speaker 3>you going to be looking for over the next month

0:13:12.040 --> 0:13:14.640
<v Speaker 3>or so to try to figure out what he's planning

0:13:14.640 --> 0:13:17.720
<v Speaker 3>on doing and how his sort of promises are actually

0:13:17.720 --> 0:13:20.320
<v Speaker 3>going to translate into I guess policy.

0:13:20.679 --> 0:13:20.959
<v Speaker 4>Yeah.

0:13:21.000 --> 0:13:23.280
<v Speaker 1>So at the when we were at Madison Square Garden together,

0:13:23.360 --> 0:13:26.000
<v Speaker 1>I was kind of struck by the fact that Howard Lutnik,

0:13:26.040 --> 0:13:29.240
<v Speaker 1>who is the chair of the Transition Team, introduced Musk

0:13:29.480 --> 0:13:33.720
<v Speaker 1>as his DOGE co chair. So I think that Lutnik

0:13:33.920 --> 0:13:36.959
<v Speaker 1>and Musk together are going to kind of chair this commission.

0:13:37.640 --> 0:13:39.960
<v Speaker 1>It's not going to be a cabinet level thing, because

0:13:40.080 --> 0:13:42.839
<v Speaker 1>Musk doesn't want to have to unwind his investments in

0:13:42.880 --> 0:13:45.160
<v Speaker 1>all of his companies. But it's so it's not like

0:13:45.200 --> 0:13:47.319
<v Speaker 1>a center, it's not like a cabinet level. But I

0:13:47.320 --> 0:13:49.280
<v Speaker 1>think they're going to co chair this thing, and they're

0:13:49.280 --> 0:13:51.280
<v Speaker 1>going to take a look at the more than four

0:13:51.320 --> 0:13:54.800
<v Speaker 1>hundred federal agencies and the overlap between them, and they're

0:13:54.840 --> 0:13:57.600
<v Speaker 1>gonna cut I mean, they're talking about cutting two trillion

0:13:57.640 --> 0:14:01.079
<v Speaker 1>from the budget. That is an enormous that is it.

0:14:01.320 --> 0:14:04.040
<v Speaker 1>That is an enormous cut. So you know how that

0:14:04.080 --> 0:14:06.240
<v Speaker 1>will work a practice, I don't really know. I'm sort

0:14:06.280 --> 0:14:09.520
<v Speaker 1>of starting to think about which agencies might come under musks,

0:14:10.040 --> 0:14:11.920
<v Speaker 1>you know, might come under fire. I think that the

0:14:11.960 --> 0:14:14.199
<v Speaker 1>Department of Education is one that Musk is going to

0:14:14.240 --> 0:14:16.880
<v Speaker 1>look at pretty carefully. I think that he probably has

0:14:16.880 --> 0:14:19.840
<v Speaker 1>some thoughts about Nitze and the securities in Exchange Commission

0:14:19.920 --> 0:14:23.680
<v Speaker 1>and the FTC and the FCC and the Fish and

0:14:23.720 --> 0:14:26.800
<v Speaker 1>Wildlife Service and the FAA. I mean, he's he's openly

0:14:26.840 --> 0:14:27.760
<v Speaker 1>said that he thinks.

0:14:27.680 --> 0:14:30.600
<v Speaker 3>You're naming agencies that he has tangled with in the past,

0:14:30.840 --> 0:14:33.480
<v Speaker 3>which is it's a long list to be fair, I mean,

0:14:33.520 --> 0:14:36.040
<v Speaker 3>if you cut all those agencies that have had a

0:14:36.080 --> 0:14:38.600
<v Speaker 3>beef with Musk, you you wouldn't have much of an

0:14:38.600 --> 0:14:39.360
<v Speaker 3>executive branch.

0:14:39.600 --> 0:14:40.480
<v Speaker 2>I mean, I.

0:14:40.320 --> 0:14:44.080
<v Speaker 3>Think so so so I just two points and two things,

0:14:44.120 --> 0:14:48.840
<v Speaker 3>like I am watching. One is like this stuff, especially

0:14:48.880 --> 0:14:50.800
<v Speaker 3>the kinds of things you're talking about, like oh, cutting

0:14:50.800 --> 0:14:53.400
<v Speaker 3>the Department of Education or cutting two trillion dollars from

0:14:53.480 --> 0:14:56.960
<v Speaker 3>the federal budget, that's like going to be incredibly unpopular

0:14:57.520 --> 0:15:01.000
<v Speaker 3>and also like difficult to ex if you even could

0:15:01.080 --> 0:15:02.920
<v Speaker 3>do it. That's not to say like some of this

0:15:02.960 --> 0:15:04.840
<v Speaker 3>stuff couldn't happen. I mean, I think one thing we

0:15:04.920 --> 0:15:08.000
<v Speaker 3>learned over this election is that Elon Musk and Donald

0:15:08.040 --> 0:15:12.920
<v Speaker 3>Trump are really good at taking unpopular positions and finding

0:15:12.960 --> 0:15:15.640
<v Speaker 3>a constituency and like if you have a passionate but

0:15:15.760 --> 0:15:20.080
<v Speaker 3>small constituency for some position, they managed to transform that,

0:15:20.320 --> 0:15:22.840
<v Speaker 3>you know, into a successful presidential campaign.

0:15:23.000 --> 0:15:24.000
<v Speaker 2>You know, we did an.

0:15:23.760 --> 0:15:27.160
<v Speaker 3>Episode of this podcast, I don't know eight months ago

0:15:27.360 --> 0:15:31.200
<v Speaker 3>talking about how unpopular Elon Musk was with with with

0:15:31.240 --> 0:15:34.360
<v Speaker 3>the electorate. And you can look at Donald Trump's polling

0:15:34.440 --> 0:15:37.400
<v Speaker 3>numbers and they weren't super great going into this election.

0:15:37.560 --> 0:15:40.200
<v Speaker 3>So so I think, you know, it's possible that the

0:15:40.520 --> 0:15:42.560
<v Speaker 3>sort of marketing genius of these two men will turn

0:15:42.600 --> 0:15:43.120
<v Speaker 3>things around.

0:15:43.240 --> 0:15:46.880
<v Speaker 2>But I think the thing that I am more focused on.

0:15:46.840 --> 0:15:49.160
<v Speaker 3>Is sort of the last part of what you said, Like,

0:15:49.560 --> 0:15:51.920
<v Speaker 3>there are going to be questions about who should run

0:15:52.000 --> 0:15:55.120
<v Speaker 3>the SEC, who should run the FTC, should those should

0:15:55.160 --> 0:16:00.680
<v Speaker 3>those policies be more favorable to business to tech businesses,

0:16:00.720 --> 0:16:04.040
<v Speaker 3>and in particular to one tech entrepreneur, Elon Musk, And

0:16:04.040 --> 0:16:07.040
<v Speaker 3>I think we should expect Elon to exercise a real

0:16:07.080 --> 0:16:09.760
<v Speaker 3>influence there. He has already said, you know, he's already

0:16:09.800 --> 0:16:12.280
<v Speaker 3>talked about trying to push Lena Khan, the chair of

0:16:12.280 --> 0:16:14.800
<v Speaker 3>the FTC, out, I think there's an expectation he would

0:16:14.840 --> 0:16:18.600
<v Speaker 3>definitely go after Gary Gensler, the head of the SEC.

0:16:18.840 --> 0:16:21.600
<v Speaker 3>So so that I think that is kind of like

0:16:21.720 --> 0:16:25.400
<v Speaker 3>the more immediate thing. And then you know, who knows

0:16:25.520 --> 0:16:28.320
<v Speaker 3>I mean, this guy has tried crazy stuff in the past,

0:16:28.320 --> 0:16:30.000
<v Speaker 3>stuff that that I think a lot of people didn't

0:16:30.040 --> 0:16:32.040
<v Speaker 3>expect and and and that could certainly happen.

0:16:32.440 --> 0:16:34.560
<v Speaker 1>Yeah, I mean he's also called for the for the

0:16:34.560 --> 0:16:36.680
<v Speaker 1>head of the FAA to resign. I mean, he's got

0:16:36.800 --> 0:16:39.880
<v Speaker 1>you know, and I think what's I guess what concerns

0:16:39.920 --> 0:16:44.080
<v Speaker 1>me as a citizen is that Muskin Trump hold grudges.

0:16:44.120 --> 0:16:46.520
<v Speaker 1>I mean, these are men who will never forget the

0:16:46.560 --> 0:16:49.000
<v Speaker 1>snubs and the slights that they have endured throughout their

0:16:49.040 --> 0:16:51.320
<v Speaker 1>careers when they were doubted and as you have have

0:16:51.520 --> 0:16:55.040
<v Speaker 1>you know, spoken so eloquently on on citizen Elon, you know,

0:16:55.080 --> 0:16:57.680
<v Speaker 1>the snub with Biden not inviting him to the EV

0:16:57.760 --> 0:16:59.960
<v Speaker 1>summit like that, that kind of helped to kick off

0:17:00.080 --> 0:17:02.600
<v Speaker 1>this whole thing. And so I just think that there's

0:17:02.640 --> 0:17:05.159
<v Speaker 1>gonna be some retribution involved in terms of, you know,

0:17:05.200 --> 0:17:08.120
<v Speaker 1>which agencies have been the biggest thorn in Elon's side

0:17:08.280 --> 0:17:11.480
<v Speaker 1>and back to the Department of Education. This is another

0:17:11.840 --> 0:17:13.800
<v Speaker 1>kind of trove that we need to need to get

0:17:13.840 --> 0:17:16.080
<v Speaker 1>into more. But if you look at food donated to

0:17:16.480 --> 0:17:19.400
<v Speaker 1>Musk's pack, most of the money came from Musk himself

0:17:19.480 --> 0:17:22.640
<v Speaker 1>and then other friends from Silicon Valley, like Sham Maguire,

0:17:23.240 --> 0:17:27.760
<v Speaker 1>Doug Leone from Sequoia. Antonio Gracias also donated, but like

0:17:27.800 --> 0:17:30.800
<v Speaker 1>Betsy Devas donated to the America Pack like she's the

0:17:30.840 --> 0:17:33.880
<v Speaker 1>former Secretary of Education. So there's there's some very interesting

0:17:33.920 --> 0:17:36.960
<v Speaker 1>bedfellows happening. And I think it's going to take an

0:17:37.119 --> 0:17:41.040
<v Speaker 1>enormous amount of journalism and investigative reporting to really figure

0:17:41.040 --> 0:17:42.440
<v Speaker 1>out what's going on now.

0:17:43.240 --> 0:17:47.280
<v Speaker 2>And podcasting, and we will and will be there. We

0:17:47.320 --> 0:17:51.120
<v Speaker 2>will be every Tuesday to catalog it and to interpret it.

0:17:51.520 --> 0:17:53.120
<v Speaker 3>You know, I think there are going to be tons

0:17:53.160 --> 0:17:56.399
<v Speaker 3>of questions both for the businesses, for the stock market,

0:17:56.560 --> 0:17:58.280
<v Speaker 3>and of course for the government in the in the

0:17:58.280 --> 0:17:59.200
<v Speaker 3>weeks and months that follow.

0:17:59.280 --> 0:18:01.119
<v Speaker 2>Dana, thanks thanks for joining us. Hope you can get

0:18:01.160 --> 0:18:01.560
<v Speaker 2>some sleep.

0:18:01.840 --> 0:18:02.560
<v Speaker 1>Always a pleasure.

0:18:03.200 --> 0:18:13.200
<v Speaker 3>I'll see you on Slack in five minutes. This episode

0:18:13.200 --> 0:18:16.520
<v Speaker 3>was produced by Stacy Wong. Anna Maserakis is our editor

0:18:16.640 --> 0:18:19.760
<v Speaker 3>and Rayhan Harmanci our senior editor. The idea for this

0:18:19.920 --> 0:18:23.359
<v Speaker 3>very show also came from Rayhan Blake Maple's Handles Engineering

0:18:23.520 --> 0:18:27.440
<v Speaker 3>and Emma Sanchez fact checks. Our supervising producer is Magnus Henrickson.

0:18:27.720 --> 0:18:30.680
<v Speaker 3>The Elani theme is written and performed by Taka Yazuzawa

0:18:30.760 --> 0:18:34.640
<v Speaker 3>and Alex Sigierra. Brendan Francis, Neonham is our executive producer,

0:18:34.680 --> 0:18:36.160
<v Speaker 3>and Sage Bauman is the head.

0:18:35.960 --> 0:18:38.800
<v Speaker 2>Of pinwik Podcasts. A big thanks to our supporters Joel

0:18:38.800 --> 0:18:40.879
<v Speaker 2>Webber and Bradstone. I'm Max Chafkin.

0:18:40.960 --> 0:18:42.680
<v Speaker 3>If you have a minute, rate and review our show,

0:18:42.720 --> 0:18:45.520
<v Speaker 3>it'll help other listeners find us. We'll see you next week.