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

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

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

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

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

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

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

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Speaker 1: Breakingpoints dot Com. Good morning, everybody, Happy Monday. We have

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

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Speaker 1: we do a lot of big political news this morning,

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Speaker 1: especially regarding our former president Trump. First of all, a

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Speaker 1: special council announced to investigate whether he committed any crimes

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Speaker 1: and is going to be indicted. We'll get into all

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Speaker 1: of that. Also, he has been allowed back on Twitter.

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Speaker 1: Now he's saying he's not going to go back on Twitter.

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Speaker 1: We'll see if you can really, yeah, we'll see, really

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Speaker 1: hold on on a little skeptical. So what could that

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Speaker 1: mean for twenty twenty four? We also have new details

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Speaker 1: about the new Democratic leadership in the House. Looks a

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Speaker 1: lot like the old Democratic leadership in the House. At

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Speaker 1: the same time, apparently the Department of Justice under the

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Speaker 1: Biden administration is actually investigating Live Nation, that is the

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Speaker 1: parent company of ticket Master. This comes, of course, after

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Speaker 1: the whole Taylor Swift debacle, but apparently the investigation predates that.

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Speaker 1: So we'll get into all of that as well. And

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Speaker 1: a pretty remarkable moment on CNBC as you had a

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Speaker 1: gigantic investor melting down over the fed's actions and telling

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Speaker 1: them they need to stop. So we will talk about

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Speaker 1: all of that, but before we get to any of

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Speaker 1: that live show, Live show, We're coming to New York

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Speaker 1: and to Boston. That's right. Links are going to be

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Speaker 1: down in the description. We've got a great show plan

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Speaker 1: for all of you, back to back shows from in

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Speaker 1: New York and in Boston. Lots of people buying tickets.

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Speaker 1: We're gonna have some fun guests in the crowd. Little

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Speaker 1: teaser for those who come. You might recognize a few

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Speaker 1: faces that being said, go and buy those tickets to

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Speaker 1: and selling quite well, and we really like to have

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Speaker 1: sold out shows back to back nights. We really appreciate

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Speaker 1: you guys coming. We have learned a lot of lessons

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Speaker 1: from Atlanta and from Chicago, and how we can fuse

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Speaker 1: kind of the best of both worlds. And I think

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Speaker 1: the premiums in particular will really enjoy it. Reminders of

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Speaker 1: the lifetime members. You guys can go and buy VIP tickets.

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Speaker 1: We will reimburse you. Just forward us this receipt. Reimbursement

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Speaker 1: will come two weeks or so after the show. YEP

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Speaker 1: should be a fun time. We try to make it

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Speaker 1: very participatory, so the audience is engaging, answering questions, getting involved,

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Speaker 1: all that good stuff. So please come if you are able.

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Speaker 1: We would love to see your beautiful faces there. All right,

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Speaker 1: let's get into what is the very latest with former

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Speaker 1: President Trump. So now that he has announced officially he

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Speaker 1: is running once again, third time around for president of

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Speaker 1: the United States, Attorney General Merrick Garland has announced that

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Speaker 1: he is appointing a special counsel in order to investigate

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Speaker 1: whether Trump should be indicted for any of the potential

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Speaker 1: crimes that he has committed. Here's a little bit of

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Speaker 1: what Merrick Garland had to say based on recent developments,

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Speaker 1: including the former president's announcement that he is a candidate

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Speaker 1: for president in the next election and the president's stated

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Speaker 1: intention to be a candidate as well. I have concluded

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Speaker 1: that it is in the public interest to appoint a

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Speaker 1: special Council the investigation into whether any person or entity

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Speaker 1: unlawfully interfered with a transfer of power following the twenty

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Speaker 1: twenty presidential election or with a certification of Electoral College

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Speaker 1: vote held to Honor about January sixth. This does not

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Speaker 1: include prosecutions that are currently pending in the District of

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Speaker 1: Columbia or future investigations and prosecutions of individuals for offenses

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Speaker 1: committed while they were physically present on the Capitol grounds

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Speaker 1: on January sixth. The special Council will also conduct the

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Speaker 1: investigation involving classified documents and other presidential records, as well

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Speaker 1: as the possible obstruction of that investigation. So I know

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Speaker 1: we are all well schooled at this point in what

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Speaker 1: a special council is after the whole Muller situation. But

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Speaker 1: just as a reminder, Justice Department regulations allow for them

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Speaker 1: to appoint a special council in extraordinary circumstances, specifically when

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Speaker 1: there may be conflict of interest. Of course, Mark Garland

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Speaker 1: pointing here to the fact that Trump is running for

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Speaker 1: election now, so there could be seen as a political

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Speaker 1: conflict of interest. I think this is also an attempt

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Speaker 1: to make it appear like there's more of an arms

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Speaker 1: like distance. Is anyone going to really buy that? Of

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Speaker 1: course not. I mean, you know, it's a very tricky,

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Speaker 1: complicated situation when you have the current administration investigating the

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Speaker 1: prior administration, and you have the two of them set

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Speaker 1: to go head to head in a residential contest once again.

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Speaker 1: So there's no doubt about it. This is very politically fraught.

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Speaker 1: Merrick Garland clearly feeling that and having planned in advance

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Speaker 1: for the eventuality of Trump running once again. What he's

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Speaker 1: saying here is that what this special Council will look

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Speaker 1: into is both the situation with the classified documents at

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Speaker 1: mar A Lago and also the like fake elector's scheme.

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Speaker 1: So those are the two pieces that they will be

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Speaker 1: taking a look at the person that he has appointed,

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Speaker 1: in particular as a dude by the name of Jack Smith.

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Speaker 1: Let's go ahead and put this up on the screen.

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Speaker 1: A little bit about his bio. New York Times dug

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Speaker 1: into his very interesting actually career. So he ran for

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Speaker 1: a while the Department of Justice Public Integrity Section, and

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Speaker 1: as you go down the list of cases that he's involved,

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Speaker 1: was involved with, some of them very famous. So he

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Speaker 1: was involved with trying John Edwards unsuccessfully on campaign finance violations.

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Speaker 1: He was involved in the Bob McDonald. I don't know

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Speaker 1: if you guys remember that one, the former governor of Virginia,

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Speaker 1: again campaign finance violations. He was actually found guilty and

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Speaker 1: then the Supreme Court overturned it. He's sort of been

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Speaker 1: criticized in both directions of being too aggressive in the

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Speaker 1: case of John Edwards in particular, but then also being

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Speaker 1: not aggressive enough, letting, you know, in the opinion of

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Speaker 1: some letting some politicians off the hook. Right after he

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Speaker 1: came into that leadership role at DOJ's Public integrat Integrity Section,

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Speaker 1: he also was involved in trying people for war crimes

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Speaker 1: at the Hague. That was a significant part of his

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Speaker 1: career as well. In fact, I think that's what he

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Speaker 1: is doing most recently, so, you know, in terms of

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Speaker 1: they interviewed a few people who know him and are

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Speaker 1: familiar with his work. What they said sort of consistantly

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Speaker 1: is that he moves cases, he gets things done. One

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Speaker 1: person said, there's no mystery here. He's a hard working,

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Speaker 1: smart person. Who knows how to move cases. That's who

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Speaker 1: he is. He comes in and gets things done. And

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Speaker 1: so I guess Sager, you know, to the extent we

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Speaker 1: can read the tea leaves here, it seems like the

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Speaker 1: idea is this is someone who moves things along quickly.

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Speaker 1: He's not going to dillydally. And you know, time is

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Speaker 1: kind of the essence as we are already twenty twenty

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Speaker 1: four is already upon us. Yeah, I mean, it's just

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Speaker 1: deja vu. It's like every single election. First of what

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Speaker 1: we had the Komi investigation into Hillary Clinton, then we

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Speaker 1: had to deal with the Mueller investigation and what that

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Speaker 1: ended up being now or dealing with this one. On

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Speaker 1: this one, I just don't know, Like and I also

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Speaker 1: don't even know if his background matters as much as

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Speaker 1: Mullers did necessarily, because on this one a lot of

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Speaker 1: the facts are actually quite clear. There was classified information.

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Speaker 1: It was held at mar A Lago. Yeah, and as

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Speaker 1: you and I have pointed out here, in some cases

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Speaker 1: and the way that you read the law, it doesn't

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Speaker 1: even necessarily matter what the motivation was that being, or

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Speaker 1: whether the documents were technically classes even whether the documents

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Speaker 1: were technically classified or not, and then the exact classification

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Speaker 1: scheme through which they went right now, apparently this was

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Speaker 1: from the Washington Post last week. Investigators believe that it

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Speaker 1: was Trump's ego, not money, as Trump's motive unclassified papers,

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Speaker 1: but the probt, yeah, I know, shocker, not have predicted

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Speaker 1: that from the beginning. However, as we've pointed out, your

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Speaker 1: motivation for committing this violation does not actually necessarily matter.

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Speaker 1: And then that leads to the question then of possible indictment.

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Speaker 1: What exactly and how the clear cut the facts are,

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Speaker 1: whether they have cooperators inside of Trump's team. We seem

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Speaker 1: to have some indication of that, whether that even if

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Speaker 1: you do have the fall woman in this case of

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Speaker 1: Trump's lawyer who had certified or told the FBI that

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Speaker 1: these documents had been returned. If Trump, then they have evidence,

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Speaker 1: and you know, it may not be all that hard

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Speaker 1: to prove, given the level of surveillance or whatever they

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Speaker 1: had the form president under, to prove that he actually

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Speaker 1: tried to knowingly circumvent that. This seems to be a

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Speaker 1: very very clear cut case based upon the fact that

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Speaker 1: we know them right, there could be things, you know,

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Speaker 1: happening that we have no idea, but I haven't yet

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Speaker 1: seen the like hagiographic effort to point Jack Smith as

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Speaker 1: the new Robert Molt. Maybe they learned their lessons. Maybe

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Speaker 1: the Washington Post part won't release a graphic novel on

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Speaker 1: the history of Jackman, although arguably, you know, he has

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Speaker 1: a much easier case before him. Whenever he's looking into

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Speaker 1: Donald Trump, this say time, I think that's right. I mean, yeah,

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Speaker 1: that's that's the thing is like last time with Russia Gate,

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Speaker 1: there really was no there there. I mean here, there

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Speaker 1: is obviously there there anybody else. This is an open

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Speaker 1: and shutcase. There's not even a debate. They're indicted. They're

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Speaker 1: probably already in prison. Right. It's just because of the

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Speaker 1: political complexity of this being the former president who was

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Speaker 1: once again running for the office's president in the United States,

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Speaker 1: and so you know, clearly Merrit Garland here again this

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Speaker 1: attempt to have an arms length distance. Does this make

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Speaker 1: it more or less likely that Trump gets indicted? I mean,

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Speaker 1: I still would probably bet on Trump ending up being indicted,

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Speaker 1: And this is an attempt to make it as sort

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Speaker 1: of like clean an indictments possible, But we'll ultimately see.

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Speaker 1: I mean, these are people who are very Merritt Garland

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Speaker 1: tends to be very risk averse. The Department of Justice

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Speaker 1: in general tends to be very risk averse, you know,

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Speaker 1: very nervous about doing anything that has this sort of

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Speaker 1: like overtdirect political overturn tones. They understand what the Republicans

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Speaker 1: are going to say about this, that is direct political

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Speaker 1: weaponization of the Department of Justice, So, you know, do

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Speaker 1: those things scare them off of a case that is

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Speaker 1: like there is obviously a case for an indictment here.

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Speaker 1: Ultimately we'll see President former President Trump already reacting to

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Speaker 1: the appointment of the Special Council. Let's take a listen

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Speaker 1: to what he had to say before we begin. I

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Speaker 1: want to address the appalling announcement today by the egregiously

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Speaker 1: corrupt to Biden administration and the weaponized Department of Justice.

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Speaker 1: Would you like me to talk about that, Larry, would

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Speaker 1: you like me to talk about that? This horrendous abuse

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Speaker 1: of power is the latest of a long series of

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Speaker 1: witch hunts we started a long time ago. I thought

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Speaker 1: the investigation with the document hoax was dying or dead

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Speaker 1: or over, and the investigation into January sixth, and my

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Speaker 1: very peaceful and patriotic speech you remember, peaceful and patriotically

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Speaker 1: was dead, especially after the record setting forty point laws

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Speaker 1: of Liz Cheney and the Great State of Wyoming. I

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Speaker 1: thought it was dead. I thought that put the final

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Speaker 1: nail in the coffin. Only to find out that the

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Speaker 1: corrupt and highly political Justice Department just appointed a super

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Speaker 1: radical left Special Council better referred to as a Special

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Speaker 1: Prosecutor to start the process all over again. We thought

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Speaker 1: it was just about dead. Felt a lot more like

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Speaker 1: Trump there than his announcements. Feature That's the Trump that

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Speaker 1: we know well from our years covering the man. Yeah,

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Speaker 1: I mean, you know, in a lot of ways, you

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Speaker 1: could see then that the word special Council has now

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Speaker 1: become so overtly politicized with a lot I'm not saying

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Speaker 1: necessarily they would have ever believed it, but given what

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Speaker 1: happened with Russiagate, a lot of the credibility for anybody

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Speaker 1: who is even remotely skeptical is going to exist, you know,

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Speaker 1: given the fallout from that investigation. The Trump team, from

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Speaker 1: what I've seen, says that they will not cooperate at

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Speaker 1: all with a special Council. That's an interesting life. And

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Speaker 1: because Trump a long thought that if he just cooperated

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Speaker 1: with Muller, the whole thing would go away. And then

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Speaker 1: he was like, no, now, you know, the witch hunt.

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Speaker 1: That's why he ended up firing a couple of the

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Speaker 1: lawyers who we had working for him, Ty Cobb, you know,

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Speaker 1: others who had a different strategy, and they ultimately regretted

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Speaker 1: ever having cooperated with Muller and his team at all.

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Speaker 1: So this time you're going to see a much more

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Speaker 1: confrontational approach again, though the facts are just inherently different,

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Speaker 1: Like with Russia Gate, like it wasn't true with this one,

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Speaker 1: it seemed, I mean, by his own admission, it was

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Speaker 1: kind of true. It really only comes to a matter

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Speaker 1: of how you interpret classification law, of which the Trump

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Speaker 1: administration argued that even though Trump could tweet that something

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Speaker 1: has been declassified, unless it has gone through formal declassification process,

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Speaker 1: it is not regarded as declassified by the government. So look,

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Speaker 1: I don't know, you know, on the Justice Department and

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Speaker 1: all of that, they have very little credibility I think

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Speaker 1: with the eyes of a lot of people who are

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Speaker 1: Republicans already, given what this is, you know, given the

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Speaker 1: cult of personality aspect, I really don't know how exactly

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Speaker 1: this one's going to play out. I mean, I personally,

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Speaker 1: I think he probably agrees, just like I just want speed,

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Speaker 1: like the long and the drawn out, like Muller's looking

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Speaker 1: into this. Muller is looking into that, like this person

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Speaker 1: has been called as a witness that and all that.

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Speaker 1: It just it was so bad for the country. So

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Speaker 1: like I would just rather it come to it. Let's

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Speaker 1: get it in court. Yeah, let's put the facts in

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Speaker 1: good for a judge, and then the Americans can make

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Speaker 1: up their mind. Well ahead of the twenty twenty four Yeah,

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Speaker 1: I mean, to be honest with you, I wish they

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Speaker 1: would have done it before the midterms, before he announced.

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Speaker 1: I mean, I know it would have been probably difficult

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Speaker 1: given the timeline, but that would have ultimately been better

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Speaker 1: even if they were concerned about how it might play

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Speaker 1: into the midterms. Ultimately, Trump wasn't on the ballot in

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Speaker 1: the midterms, at least not technically, so a lot of

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Speaker 1: people did vote with him in mind. The other question,

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Speaker 1: and we can move on to the next part now,

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Speaker 1: is is he going to have the unanimous cover from

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Speaker 1: Republican party elites that he did in the Muller investigation?

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Speaker 1: And this isn't so much a question of, like we're saying,

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Speaker 1: there's a lot more there there with this one, but

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Speaker 1: it's also a question of his perceived weness in the

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Speaker 1: party at this point. And to underscore that there were

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Speaker 1: a whole lot of Republicans at this what does it

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Speaker 1: called Republican Jewish Coalition meeting? Who were you know, they

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Speaker 1: weren't ruling out twenty twenty four. Some of them were

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Speaker 1: overtly critical of Trump or throwing in little jabs or

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Speaker 1: a little sort of like passive aggressive comments here. So

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Speaker 1: let me give you a few of the highlights here.

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Speaker 1: One that won't be a surprise Chris CHRISTI, of course,

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Speaker 1: has been a Trump critic for a while. Now, let's

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Speaker 1: take a listen to a little bit of what he

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Speaker 1: had to say. We keep losing and losing and losing.

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Speaker 1: And the fact of the matter is the reason we're

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Speaker 1: losing is because Donald Trump has put himself before everybody else.

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Speaker 1: And I understand and believe in so many of the

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Speaker 1: policies that we're able to be accomplished during those four years.

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Speaker 1: I mourn what more could have been done. And let's

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Speaker 1: remember this, everything that has happened in the last two

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Speaker 1: years is because we lost that election. So Christy sort

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Speaker 1: of similar to Ron to sants, look at the scoreboard.

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Speaker 1: You know you're tired of losing. Donald Trump is to

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Speaker 1: blame again. Not that much a surprise coming from him

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Speaker 1: because he's been a direct Trump critic for a while.

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Speaker 1: But even people like Ted Cruz and let's put this

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Speaker 1: next piece up on the screen, isn't ruling out twenty

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Speaker 1: twenty four. That to me, you know, again as a

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Speaker 1: sign of some perceived weakness with Donald Trump. Cruise, as

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Speaker 1: of course, continued to be a Trump ally and when

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Speaker 1: he was asked about twenty twenty four he could say

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Speaker 1: whether he would consider it, he says, you can consider

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Speaker 1: whatever you like. There will be plenty of time to

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Speaker 1: discuss twenty twenty four presidential I get that that is

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Speaker 1: a lot of fun in the media to do. There

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Speaker 1: will be plenty of time for that. So Ted Cruz

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Speaker 1: also not closing the door. Nikki Haley probably the most

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Speaker 1: overt in hinting at her twenty twenty four ambitions. Let's

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Speaker 1: take a listen to what she had to say. Now

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Speaker 1: that the midterms are over, I'll look at it in

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Speaker 1: a serious way, you know, I'll be or to say, so,

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Speaker 1: if my family and I decide to continue your life

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Speaker 1: of service, we will put one thousand percent into it

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Speaker 1: and we'll finish it. For now, I'll say this, I've

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Speaker 1: won tough primaries and tough general elections. I've been the

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Speaker 1: underdog every single time when people underestimate. It's always fun.

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Speaker 1: But I've never lost an election, and I'm not going

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Speaker 1: to start it now. I know Nicki Haley personal favorite

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Speaker 1: of your Sager. She's just so woulded. I mean, she's

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Speaker 1: a politician, it's just at a very baseline level, she

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Speaker 1: is the definition of like total donor created. Like there

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Speaker 1: is no organic interest in Nikki Haley running for anything

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Speaker 1: at this point, absolutely because she's got some funder telling

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Speaker 1: her that they'll back her. At this year. I'm gonna run.

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Speaker 1: Name is Paul Singer, just for the record. So anyway,

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Speaker 1: so these guys, all of you know, Chris Christy, Ted

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Speaker 1: Cruz is different because he has a legitimate base of

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Speaker 1: support I think within the Republican Party. But Christy, and

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Speaker 1: first of all, with Chris Christy, are we just going

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Speaker 1: to forget he was the first like real person to

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Speaker 1: endorse Donald Trump in the twenty twenty election or yeah,

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Speaker 1: in the twenty sixteen election. Even put that aside, he

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Speaker 1: doesn't have any credibility. You know, with a lot of

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Speaker 1: the Trump bass. Christie's problem was basically like he lost

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Speaker 1: in the New Hampshire primary, Like he had no organic

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Speaker 1: level of sport. You could argue, You could argue more

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Speaker 1: so as like a Marco Rubio figure than you could

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Speaker 1: from Chris Christy, given how far back that he ended

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Speaker 1: up finishing in that. So with Christy, the idea that

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Speaker 1: he could mount a serious channel to challenge to Trump

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Speaker 1: not going to happen, right. Nikki Haley is the same.

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Speaker 1: I mean, first of all, like what is your critique

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Speaker 1: of the man? You worked for him and then you kissed,

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Speaker 1: you know, like kissed his ass for years while he

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Speaker 1: was in office. Then she criticized do you remember this

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Speaker 1: whole thing? She criticized him at Jenuous after January sixth

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Speaker 1: in the Atlantic, and then she tried to call him

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Speaker 1: to apologize and take the front call. And then she

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Speaker 1: personally had to like come out and kind of refute

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Speaker 1: her own comments, and now you know she's in this

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Speaker 1: weird grace base. It was like, I'm sorry, the only

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Speaker 1: person who has any credibility you know, with the Republican

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Speaker 1: base as a chance and by the way, you know,

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Speaker 1: you guys know our position, like I think it's a

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Speaker 1: small chance. Is Ron DeSantis? He talked about it a

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Speaker 1: little bit. But something I'm noticing with all these candidates

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Speaker 1: Christie aside, none of them are willing to just call

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Speaker 1: the man out. So if you have been following Mike

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Speaker 1: Pompeo's feed recently, he'll be like, we need candidates which

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Speaker 1: are winners not losers. And I'm like, just say it,

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Speaker 1: say it or don't, because this, you know, cryptic sub

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Speaker 1: that is weakness, Like you're just trying to criticize Trump

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Speaker 1: without being criticized by Trump himself. DeSantis, to his credit,

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Speaker 1: got shots fired at him and he's like, look, it's

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Speaker 1: all noise. Bring it on the on the cable media,

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Speaker 1: you know, cable corporate media, and then was like, at

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Speaker 1: the end of the day, look at the scoreboard. I

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Speaker 1: personally still thought that was weak. I think he should

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Speaker 1: have just said, look at the scoreboard. Any of this

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Speaker 1: trying to avoid a squabble with Trump, if you're going

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Speaker 1: to beat him, how exactly do you expouse that? How

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Speaker 1: is that happened at all of this veiled criticism again.

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Speaker 1: Christy aside because I will at least give him credit.

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Speaker 1: I only he has a credible shot of doing it.

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Speaker 1: But he was like, look, it's Trump. Trump is the

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Speaker 1: reason this happening. If that's your theory, advance it, stick

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Speaker 1: by it. You know, you have no real nobody's going

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Speaker 1: to respect you, and trying to like run this two

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Speaker 1: face campaign where you love Trump but you want to

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Speaker 1: move past him. I mean, and no one like it's

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Speaker 1: very transparent. Yeah, it's like very transparent. You're trying to

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Speaker 1: walk this line and do this little dance of like

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Speaker 1: not directly saying that the problem is Donald Trump, but

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Speaker 1: thinking you're going to be able to like put up

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Speaker 1: some smoke signals to get people to back you. I

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Speaker 1: just I have never understood how that's ultimately going to

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Speaker 1: work out. It's one thing in this preliminary phase when

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Speaker 1: you're not head to head to you know, sort of

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Speaker 1: make the passive aggressive comment to do the equivalent of

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Speaker 1: the subtweet. But ultimately you're going to have to go

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Speaker 1: hiad to head with this guy. You're going to have

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Speaker 1: to have a theory of the case. You're going to

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Speaker 1: have to tell, like explain to his supporters and something

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Speaker 1: that they you know, understand and appreciate why they should

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Speaker 1: move on from somebody that they still continue to really

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Speaker 1: like and support. So let's go and put this Wall

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Speaker 1: Street Journal recap up on the screen. DeSantis others draw

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Speaker 1: distinctions with Trump and twenty twenty four GOP nomination race.

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Speaker 1: They go through. Trump also addressed the crowd via satellite

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Speaker 1: from Florida and received a standing ovation. By the way,

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Speaker 1: but they say the event at the Venetian Resort served

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Speaker 1: as the first major platform for others seeking to capitalize

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Speaker 1: on a growing appetite for someone else. They've got the

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Speaker 1: whole list of names here, Vice President Mike Pence, former

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Speaker 1: Secretary of State Mike Mampeo, or New Jersey Governor Chris Christy,

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Speaker 1: New Hampshire Governor Christa Nunu, former South Carolina Governor Nikki Haley.

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Speaker 1: Some huddled privately with donors. DeSantis, of course, garnering the

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Speaker 1: greatest excitement, had a primetime speaking slot on Saturday. And

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Speaker 1: they also say that you know, basically, these party leaders

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Speaker 1: and would be contenders walking a very fine line trying

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Speaker 1: to highlight mister Trump's shortcomings without alienating his supporters. They

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Speaker 1: credited his the former presidents accomplishments, many highlighting his decision

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Speaker 1: to relocate the US Embassy in Israel to Jerusalem from

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Speaker 1: Tel Aviv, and they made other unmistakable attempts to draw contrasts,

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Speaker 1: but very few took the line of Christy and like

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Speaker 1: directly actually went after him. Yeah. Look, that's the major takeaway,

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Speaker 1: which is, at the end of the day, outside of

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Speaker 1: Chris Christy, no credible candidate was willing to challenge Donald

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Speaker 1: Trump in a head to head matchup, actually call him

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Speaker 1: out from the stage. How long are we going to

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Speaker 1: keep up this charade? Yes, stop trying to play with people. DeSantis.

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Speaker 1: Then this is why, like I've seen the DeSantis camp

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Speaker 1: likes to think that you can attack Trump on COVID

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Speaker 1: and like COVID lockdowns, and I just think that is

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Speaker 1: a farce. Like he locked down the country. First of all,

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Speaker 1: we live in a federalist country. The reason DeSantis was

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Speaker 1: able to do what he wanted in Florida is because

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Speaker 1: governors got to run their states however they wanted. He

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Speaker 1: can front the federal government. Trump was criticizing lockdowns and

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Speaker 1: what April and in May it didn't work. You know,

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Speaker 1: I think Gavin Newsom, he doesn't need to listen to Trump.

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Speaker 1: That's the whole point of having states which are independent

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Speaker 1: relatively from the federal government, so that you have that. Second,

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Speaker 1: they're like, well, he didn't fire Fauci fast enough. I

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Speaker 1: might look, I don't even disagree with that point, but

429
00:21:20,680 --> 00:21:22,560
Speaker 1: like it's been two years. Yeah, what do we look

430
00:21:22,640 --> 00:21:26,040
Speaker 1: when we look at the preference and the COVID in

431
00:21:26,119 --> 00:21:28,760
Speaker 1: terms of its ranking how people vote, it's not there.

432
00:21:28,960 --> 00:21:31,120
Speaker 1: There was a big prediction by a lot of Republicans

433
00:21:31,160 --> 00:21:32,840
Speaker 1: in this in this election, of which you know, I

434
00:21:32,920 --> 00:21:34,199
Speaker 1: was somewhat of a part of, like people are going

435
00:21:34,280 --> 00:21:37,640
Speaker 1: to remember lockdowns. No, they don't actually care at all

436
00:21:37,920 --> 00:21:41,640
Speaker 1: the difference between Virginia and even now only one year,

437
00:21:42,040 --> 00:21:45,600
Speaker 1: totally different universe away from school closures, you know. Now

438
00:21:45,600 --> 00:21:48,640
Speaker 1: it's all about abortion, it's about the economy, about varied

439
00:21:48,760 --> 00:21:51,639
Speaker 1: you know, pressing issues ahead of us right now. So anyway,

440
00:21:51,760 --> 00:21:54,560
Speaker 1: like all this this critique that they think that they

441
00:21:54,560 --> 00:21:56,560
Speaker 1: have against the man, I just don't see it. I

442
00:21:56,560 --> 00:21:58,840
Speaker 1: don't see any evidence right now to actually back that

443
00:21:58,960 --> 00:22:00,960
Speaker 1: up electorally in terms of the way that people have voted.

444
00:22:01,040 --> 00:22:04,359
Speaker 1: And I continue to think that ultimately if Trump is

445
00:22:04,560 --> 00:22:07,399
Speaker 1: in fact indicted that I mean, you don't think that

446
00:22:07,480 --> 00:22:09,679
Speaker 1: all of these people, with maybe the exception of Chris Christy,

447
00:22:09,760 --> 00:22:11,479
Speaker 1: who we already said, like, I don't think that he

448
00:22:11,520 --> 00:22:13,320
Speaker 1: really has a shot of credibility with the base at

449
00:22:13,359 --> 00:22:14,639
Speaker 1: this point, even though I do think he's a very

450
00:22:14,640 --> 00:22:17,399
Speaker 1: politically talented person. But just like he missed his moment

451
00:22:17,440 --> 00:22:22,640
Speaker 1: back in twenty twelve, a decade ago. But yeah, I mean, ultimately,

452
00:22:22,720 --> 00:22:24,920
Speaker 1: if he is indicted, which I do think is still

453
00:22:24,960 --> 00:22:28,840
Speaker 1: fairly likely, I think all of these people will rally

454
00:22:28,880 --> 00:22:30,720
Speaker 1: around them once again. I mean they're going to defend

455
00:22:30,800 --> 00:22:32,800
Speaker 1: moments like they almost have to. There's no way the

456
00:22:32,840 --> 00:22:36,719
Speaker 1: base would accept you if you didn't do that. I mean,

457
00:22:36,760 --> 00:22:38,840
Speaker 1: they would just you know, totally reject on a hand

458
00:22:38,880 --> 00:22:41,080
Speaker 1: anyone who was like, yes, I think he should be indicted,

459
00:22:41,080 --> 00:22:43,080
Speaker 1: and yes, I think that this is all justified. So

460
00:22:43,680 --> 00:22:45,600
Speaker 1: I think it's going to be very tricky for anyone

461
00:22:45,800 --> 00:22:48,640
Speaker 1: to supplant him at this point. You know, the time

462
00:22:48,640 --> 00:22:52,159
Speaker 1: when he was weakest was right after January sixth. Maybe

463
00:22:52,160 --> 00:22:54,439
Speaker 1: they had a shot right then if everybody got on

464
00:22:54,520 --> 00:22:57,879
Speaker 1: board and everybody sort of like with one unified front,

465
00:22:57,880 --> 00:23:00,560
Speaker 1: tried to do something they didn't do that. And the

466
00:23:00,640 --> 00:23:03,679
Speaker 1: other thing that they're going to face is much like

467
00:23:03,720 --> 00:23:07,320
Speaker 1: twenty sixteen, they're going to have a divided field. I mean,

468
00:23:07,640 --> 00:23:10,000
Speaker 1: you know, I know that they would there's a group

469
00:23:10,040 --> 00:23:12,440
Speaker 1: that would love if it was just Trump versus DeSantis.

470
00:23:12,520 --> 00:23:15,480
Speaker 1: Number one, it's not even totally clear that DeSantis is

471
00:23:15,480 --> 00:23:18,080
Speaker 1: going to run, by the way. And number two, there

472
00:23:18,080 --> 00:23:21,000
Speaker 1: are going to be other challengers for that, you know,

473
00:23:21,080 --> 00:23:23,720
Speaker 1: to divide up that anti Trump vote to the extending

474
00:23:23,920 --> 00:23:26,840
Speaker 1: even exists within the GOP base. That makes it a

475
00:23:26,920 --> 00:23:31,520
Speaker 1: much trickier situation as well. And there was a Mike

476
00:23:31,560 --> 00:23:33,760
Speaker 1: Pence was out, you know, he's doing his media rounds

477
00:23:33,760 --> 00:23:35,679
Speaker 1: because he wrote his book, and he's you know, putting

478
00:23:35,680 --> 00:23:38,679
Speaker 1: out the trial balloons for his own presidential campaign as well.

479
00:23:39,200 --> 00:23:41,320
Speaker 1: And I thought there was a very revealing moment where

480
00:23:41,440 --> 00:23:45,080
Speaker 1: even after everything after January sixth, after having people running

481
00:23:45,080 --> 00:23:47,760
Speaker 1: around the Capitol calling for Mike Pence to be hung in,

482
00:23:47,880 --> 00:23:51,240
Speaker 1: Trump's not saying a damn word about it. He still

483
00:23:51,280 --> 00:23:56,040
Speaker 1: has a really hard time directly criticizing former President Trump.

484
00:23:56,080 --> 00:23:59,040
Speaker 1: Take a listen to this, asked candidates that were focused

485
00:23:59,040 --> 00:24:02,720
Speaker 1: on relitigating the twenty twenty election did not fare as

486
00:24:02,760 --> 00:24:06,560
Speaker 1: well and when and we had some surprising and disappointing results.

487
00:24:07,560 --> 00:24:10,760
Speaker 1: You stop short of saying that the former president is

488
00:24:10,840 --> 00:24:13,440
Speaker 1: unfit to serve again, but as former Defense Secretary Mark

489
00:24:13,560 --> 00:24:16,919
Speaker 1: Esper says, he's unfit for office. Another former Defense secretary,

490
00:24:17,000 --> 00:24:20,200
Speaker 1: Jim Madison, says Trump has no moral compass. Bill Barr

491
00:24:20,280 --> 00:24:22,879
Speaker 1: the Attorney General, he is neither the temperament nor the

492
00:24:22,880 --> 00:24:27,040
Speaker 1: persuasive powers. Judge Ludok, somebody you admire, I know Trump

493
00:24:27,080 --> 00:24:29,320
Speaker 1: and his apologist or a clear and present danger to

494
00:24:29,400 --> 00:24:35,639
Speaker 1: American democracy? Is he fit to serve as president of

495
00:24:35,640 --> 00:24:38,679
Speaker 1: the United States for another four years? I really do

496
00:24:38,800 --> 00:24:42,560
Speaker 1: believe that's a decision for the American peace. And President

497
00:24:42,600 --> 00:24:47,679
Speaker 1: Trump is now to the American people. I mean, and

498
00:24:47,800 --> 00:24:50,160
Speaker 1: how about this, the fact that you may run? Are

499
00:24:50,160 --> 00:24:55,720
Speaker 1: you sending that message without saying it? Well, I'll keep

500
00:24:55,720 --> 00:24:57,479
Speaker 1: you posted on whether I'm going to run or not.

501
00:24:58,600 --> 00:25:03,359
Speaker 1: But I do think we'll have better choices. But what

502
00:25:03,400 --> 00:25:07,520
Speaker 1: I won't do is is I won't join those that

503
00:25:07,640 --> 00:25:10,440
Speaker 1: want to dismiss the four years of our administration and

504
00:25:10,480 --> 00:25:13,959
Speaker 1: all that we accomplish for the American people. I mean, listen,

505
00:25:14,119 --> 00:25:17,680
Speaker 1: it's an unenviable task, because I get the calculation he's

506
00:25:17,680 --> 00:25:19,560
Speaker 1: making there, and the minute you say something like Trump's

507
00:25:19,640 --> 00:25:22,880
Speaker 1: unfit for office, your own hopes and aspirations of winning

508
00:25:22,920 --> 00:25:25,240
Speaker 1: over the GOP base are done. But this is so

509
00:25:25,359 --> 00:25:29,080
Speaker 1: incredibly weak. After everything, you still can't just make a

510
00:25:29,160 --> 00:25:31,960
Speaker 1: direct critique of this dude. It's kind of pathetic. Yeah,

511
00:25:31,960 --> 00:25:34,080
Speaker 1: that's what I believe too. I mean, look, if you're

512
00:25:34,119 --> 00:25:36,480
Speaker 1: going to take him on, then do it. And if

513
00:25:36,480 --> 00:25:40,159
Speaker 1: you're not, then retire, write the book right into the sunset.

514
00:25:40,359 --> 00:25:42,560
Speaker 1: You cannot have it both ways, and I don't know

515
00:25:42,600 --> 00:25:44,920
Speaker 1: why people are so deluded as to think that they

516
00:25:44,960 --> 00:25:47,640
Speaker 1: really can. Again, the only person who has perhaps even

517
00:25:47,680 --> 00:25:50,000
Speaker 1: a shot is Ron desandis I still think it would

518
00:25:50,000 --> 00:25:52,520
Speaker 1: probably tarnish his reputation and it probably wouldn't work, but

519
00:25:52,920 --> 00:25:55,320
Speaker 1: you know maybe Yeah, for the rest of them, I'm like,

520
00:25:55,359 --> 00:25:58,720
Speaker 1: you guys are living in a genuine fantasy, and that

521
00:25:58,960 --> 00:26:02,120
Speaker 1: is true weakness. It's like, look, if you can't criticize

522
00:26:02,200 --> 00:26:04,200
Speaker 1: the man, then you shouldn't be running against him. I

523
00:26:04,240 --> 00:26:07,480
Speaker 1: think it's very clear. And if you do want to criticize, okay,

524
00:26:07,720 --> 00:26:09,600
Speaker 1: prosecute your case. I don't think it's gonna work, but

525
00:26:09,640 --> 00:26:12,720
Speaker 1: prosecute it and let's see, you know Pence. This also

526
00:26:12,760 --> 00:26:14,479
Speaker 1: shows how political you know the man is, like if

527
00:26:14,520 --> 00:26:16,560
Speaker 1: you really it has such a messiah complex and on

528
00:26:16,640 --> 00:26:18,600
Speaker 1: this one what the messiah complex is missing. It's like,

529
00:26:18,640 --> 00:26:21,560
Speaker 1: come on, dude, like which one is it? Right? So yeah,

530
00:26:21,560 --> 00:26:24,120
Speaker 1: that's why I get really annoyed. Totally agree. Okay, let's

531
00:26:24,160 --> 00:26:27,280
Speaker 1: move on to Twitter and speaking of Trump news, got

532
00:26:27,280 --> 00:26:29,439
Speaker 1: some major one on Saturday night. Let's put it up

533
00:26:29,480 --> 00:26:32,040
Speaker 1: there on the screen. Oh boy, So Elon put out

534
00:26:32,080 --> 00:26:35,479
Speaker 1: a tweet saying should I reinstate former President Trump? Fifty

535
00:26:35,520 --> 00:26:38,480
Speaker 1: one point eight percent voted yes. I also I actually

536
00:26:38,520 --> 00:26:40,800
Speaker 1: voted yes. How many votes did it get? By the way,

537
00:26:40,840 --> 00:26:44,879
Speaker 1: so it got fifteen million, eight eight Yeah, fifteen million,

538
00:26:44,960 --> 00:26:48,240
Speaker 1: eighty five thousand votes. No got forty eight percent. It's

539
00:26:48,240 --> 00:26:50,840
Speaker 1: actually quite close in terms of everybody who did. I

540
00:26:50,960 --> 00:26:54,919
Speaker 1: went day from the person people said. Elon ended up

541
00:26:54,960 --> 00:26:58,880
Speaker 1: responding vox popular Vox Day says the people have spoken,

542
00:26:59,240 --> 00:27:03,640
Speaker 1: Trump will be reinstated, so brought him back by decree.

543
00:27:04,000 --> 00:27:06,480
Speaker 1: Not only that, but based on a Twitter poll, a

544
00:27:06,520 --> 00:27:08,320
Speaker 1: lot of people were asking, by the way, and I

545
00:27:08,359 --> 00:27:10,280
Speaker 1: think this is a fair question, just what it was

546
00:27:10,320 --> 00:27:12,080
Speaker 1: it days ago. He was like, we will have a

547
00:27:12,119 --> 00:27:15,439
Speaker 1: moderation council, right, we will have an independent of left

548
00:27:15,520 --> 00:27:17,080
Speaker 1: and right. And then it all came down to a

549
00:27:17,080 --> 00:27:19,400
Speaker 1: Twitter pole. I actually support more of the Twitter pol

550
00:27:19,400 --> 00:27:22,040
Speaker 1: than some fake experts, but that's true what happened to

551
00:27:22,040 --> 00:27:25,520
Speaker 1: that is true. And as he made some other decisions

552
00:27:25,560 --> 00:27:27,840
Speaker 1: to what, he let Kathy Griffin back on and the

553
00:27:27,880 --> 00:27:31,359
Speaker 1: Babylon b and Jordan Peterson yes, but then not Trump,

554
00:27:31,359 --> 00:27:33,840
Speaker 1: but then Trump an hour later. So I was like, oh, okay, right,

555
00:27:34,160 --> 00:27:36,680
Speaker 1: So I guess that the content moderation because he was

556
00:27:36,800 --> 00:27:38,720
Speaker 1: very clear he was like, not going to make any

557
00:27:38,760 --> 00:27:42,239
Speaker 1: content moderation decisions until we have our council. And he's like, ah,

558
00:27:42,320 --> 00:27:43,919
Speaker 1: what the hell, let's let him back on. If I

559
00:27:43,920 --> 00:27:45,320
Speaker 1: had to guess, I think so many of the big

560
00:27:45,359 --> 00:27:47,760
Speaker 1: advertisers who were gonna leave have just left anyway at

561
00:27:47,760 --> 00:27:49,480
Speaker 1: this point, So screw it, I'm just going to bring

562
00:27:49,520 --> 00:27:51,040
Speaker 1: back Trump. He's like, this one of the whole reasons

563
00:27:51,080 --> 00:27:53,320
Speaker 1: I bought the platform in the first place. So all right,

564
00:27:53,400 --> 00:27:55,840
Speaker 1: we'll see how it happens. But the problem is, is

565
00:27:55,880 --> 00:27:59,160
Speaker 1: Trump even gonna come back or not? Right now? Actually,

566
00:27:59,160 --> 00:28:01,639
Speaker 1: at that Republicanwish event, that we were just talking about.

567
00:28:01,800 --> 00:28:04,560
Speaker 1: He was asked whether he will return to Twitter now

568
00:28:04,560 --> 00:28:07,119
Speaker 1: that Elon is going to reinstate his account. Here's what

569
00:28:07,200 --> 00:28:09,720
Speaker 1: he had to say. What do you think about Elon

570
00:28:09,800 --> 00:28:12,159
Speaker 1: Musk buying Twitter? And if you are reinstated, will we

571
00:28:12,160 --> 00:28:15,119
Speaker 1: see you back on Twitter again? Well, I like that

572
00:28:15,160 --> 00:28:16,840
Speaker 1: he bought it. I've always liked him. I got along

573
00:28:16,880 --> 00:28:19,640
Speaker 1: with him very well during my days as president, and

574
00:28:19,680 --> 00:28:21,760
Speaker 1: I got to know him pretty well. But I do

575
00:28:21,880 --> 00:28:24,760
Speaker 1: like him. I've always really you know, he's a character,

576
00:28:25,440 --> 00:28:28,679
Speaker 1: and I tend to like characters. But he's smart. He

577
00:28:28,720 --> 00:28:30,919
Speaker 1: did put up a poll and I hear it's very overwhelming,

578
00:28:31,000 --> 00:28:33,399
Speaker 1: very strong. But I have something called trump if you

579
00:28:33,440 --> 00:28:38,120
Speaker 1: look at strompbone, but really fantastic. Truth Social and truth

580
00:28:38,160 --> 00:28:42,120
Speaker 1: Social is through the room. It's doing phenomenally well. The

581
00:28:42,120 --> 00:28:44,920
Speaker 1: pressages to talk about it, but it's doing phenomenally well.

582
00:28:44,960 --> 00:28:47,160
Speaker 1: I think engagement is much better than it is with Twitter.

583
00:28:47,360 --> 00:28:49,920
Speaker 1: Truth Social has been very very powerful, very very strong,

584
00:28:50,320 --> 00:28:51,920
Speaker 1: and I'll be saying that. But I hear we're getting

585
00:28:51,920 --> 00:28:55,160
Speaker 1: a big vote. Two also go back on Twitter. I

586
00:28:55,200 --> 00:28:58,040
Speaker 1: don't see it because I don't see any reason for it. Well,

587
00:28:58,520 --> 00:29:00,560
Speaker 1: just so we're all clear truth so was not doing

588
00:29:00,640 --> 00:29:03,480
Speaker 1: very well. Just remember that they literally lost all their

589
00:29:03,480 --> 00:29:06,680
Speaker 1: top executives and they had big problems. But from a

590
00:29:06,680 --> 00:29:12,479
Speaker 1: business perspective, they currently under sec investigation for going public

591
00:29:12,600 --> 00:29:15,080
Speaker 1: vi SPAC. There's a lot to be said just on

592
00:29:15,120 --> 00:29:18,080
Speaker 1: the business side of Twitter and true or truth sorry

593
00:29:18,320 --> 00:29:21,440
Speaker 1: in itself. That said, what do we know about Trump?

594
00:29:21,480 --> 00:29:26,080
Speaker 1: What is this universal orientation? It is attention, but secondary

595
00:29:26,120 --> 00:29:29,120
Speaker 1: to that is money. So this is the ultimate contest

596
00:29:29,160 --> 00:29:32,000
Speaker 1: between Trump's twin loves Now. Personally, I think he loves

597
00:29:32,040 --> 00:29:35,160
Speaker 1: attention more and he might come back. That said, if

598
00:29:35,160 --> 00:29:37,880
Speaker 1: he does come back to Twitter, it would nuke any

599
00:29:38,000 --> 00:29:40,640
Speaker 1: use case for truth in the first place. So if

600
00:29:40,680 --> 00:29:43,160
Speaker 1: he does come back, my belief is that what he

601
00:29:43,200 --> 00:29:46,880
Speaker 1: will do is link his truth social and Twitter account

602
00:29:47,160 --> 00:29:51,000
Speaker 1: such that all truths appear on the Truth social platform

603
00:29:51,120 --> 00:29:54,160
Speaker 1: first and are then like screenshotted or put out on

604
00:29:54,200 --> 00:29:57,200
Speaker 1: Twitter itself. At this point, given that he has nearly

605
00:29:57,200 --> 00:29:59,040
Speaker 1: a billion dollars invested in truth and he has like

606
00:29:59,080 --> 00:30:02,080
Speaker 1: real financial capital and all that behind it, and also

607
00:30:02,280 --> 00:30:03,959
Speaker 1: just you know, a lot of the MAGA faithful who

608
00:30:04,000 --> 00:30:06,320
Speaker 1: were there in the first place already followed him to truth. Yeah,

609
00:30:06,320 --> 00:30:08,960
Speaker 1: I'm just not so sure that he does return, given

610
00:30:09,040 --> 00:30:12,240
Speaker 1: the massive amount of monetary investment. I just think it

611
00:30:12,240 --> 00:30:16,160
Speaker 1: would be such a admission that the entire mission statement

612
00:30:16,240 --> 00:30:18,720
Speaker 1: behind truth Social kind of was a farce in the

613
00:30:18,760 --> 00:30:22,000
Speaker 1: first place. The moment that Elon bought Twitter, he essentially

614
00:30:22,080 --> 00:30:24,960
Speaker 1: nuked the use casey gab for truth for parlor for

615
00:30:25,240 --> 00:30:27,760
Speaker 1: so many of these other masked it on you know,

616
00:30:27,840 --> 00:30:31,200
Speaker 1: this current lib project out there, many of the you know,

617
00:30:31,320 --> 00:30:34,560
Speaker 1: so called decentralized now because the central value proposition they

618
00:30:34,560 --> 00:30:37,600
Speaker 1: had to a user was this is uncensored, and it's like, well, look,

619
00:30:37,760 --> 00:30:40,240
Speaker 1: it remains to be seen what exactly Elon is going

620
00:30:40,320 --> 00:30:42,640
Speaker 1: to do. I guess I'll save my commentary on that

621
00:30:42,840 --> 00:30:44,719
Speaker 1: for the next part of this segment, because I think

622
00:30:44,760 --> 00:30:47,960
Speaker 1: it's completely ridiculous really what he's got ahead and invented.

623
00:30:48,040 --> 00:30:51,720
Speaker 1: But on the Trump one, the trump one on his face,

624
00:30:52,160 --> 00:30:54,360
Speaker 1: I don't see him coming back anytime soon, although it

625
00:30:54,400 --> 00:30:56,920
Speaker 1: could be totally wrong. I'm curious what you think. I

626
00:30:56,920 --> 00:30:58,640
Speaker 1: don't know. I was more inclined to think he would

627
00:30:58,680 --> 00:31:01,400
Speaker 1: be able to resist the attention, because I mean, he

628
00:31:01,600 --> 00:31:04,120
Speaker 1: just does not, and we know previously he was like

629
00:31:04,160 --> 00:31:06,680
Speaker 1: complaining about how the things that he does over on

630
00:31:06,760 --> 00:31:09,040
Speaker 1: true social and like his little statements that he puts

631
00:31:09,040 --> 00:31:11,840
Speaker 1: out and whatever that they don't get as much media attention,

632
00:31:12,520 --> 00:31:15,400
Speaker 1: and so I don't know that he'll be able to resist.

633
00:31:15,520 --> 00:31:18,520
Speaker 1: I mean, he was the poster in chief. Twitter was

634
00:31:18,640 --> 00:31:22,720
Speaker 1: really where he would do his greatest work at owning

635
00:31:22,760 --> 00:31:26,040
Speaker 1: the libs and triggering the media. And I think if

636
00:31:26,080 --> 00:31:28,760
Speaker 1: he is going to you know, I mean he's running

637
00:31:28,760 --> 00:31:30,840
Speaker 1: for president again, I think if he's going to garner

638
00:31:30,880 --> 00:31:35,120
Speaker 1: the media attention that he loves, the outrage panic cycle

639
00:31:35,240 --> 00:31:37,520
Speaker 1: twenty four hours a day, I think he's probably going

640
00:31:37,600 --> 00:31:40,360
Speaker 1: to have to come back over to Twitter. So ultimately

641
00:31:40,400 --> 00:31:42,680
Speaker 1: I suspect he'll show back up. But I don't know.

642
00:31:42,720 --> 00:31:44,280
Speaker 1: I mean, like you said, you do have a sort

643
00:31:44,280 --> 00:31:46,680
Speaker 1: of competition between the love of attention and the money

644
00:31:46,720 --> 00:31:49,280
Speaker 1: here going on, And it's hard to know what went

645
00:31:49,360 --> 00:31:53,000
Speaker 1: out in his mind, but I still think. I thought

646
00:31:53,080 --> 00:31:55,680
Speaker 1: Richard Hanania made a good point about how Twitter also

647
00:31:55,760 --> 00:31:58,360
Speaker 1: kept him a little bit more. I mean, Twitter is

648
00:31:58,680 --> 00:32:00,880
Speaker 1: not real life, but Twitter's a little bit closer to

649
00:32:00,920 --> 00:32:04,400
Speaker 1: real life than the truth is, ultimately, and it kept

650
00:32:04,480 --> 00:32:06,400
Speaker 1: him a little bit more in touch with what like

651
00:32:06,520 --> 00:32:09,560
Speaker 1: normal human beings actually think about things. So I think

652
00:32:09,560 --> 00:32:11,880
Speaker 1: it would probably be a benefit to him in his

653
00:32:11,920 --> 00:32:15,600
Speaker 1: political positioning if he did come back over Obviously, you know,

654
00:32:15,800 --> 00:32:19,760
Speaker 1: like I'm not excited to have Trump back on Twitter,

655
00:32:19,840 --> 00:32:21,680
Speaker 1: but I do think it was the right decision. And

656
00:32:21,680 --> 00:32:23,600
Speaker 1: We've spoken about that a lot of times on this

657
00:32:23,720 --> 00:32:25,760
Speaker 1: on this program ultimately, and now is a time that

658
00:32:25,800 --> 00:32:28,160
Speaker 1: makes sense to do it too, now that he's announced

659
00:32:28,200 --> 00:32:30,200
Speaker 1: that he's running for president again, Like you're really going

660
00:32:30,280 --> 00:32:33,200
Speaker 1: to keep one of the two part major parties, like

661
00:32:33,320 --> 00:32:38,520
Speaker 1: major potential nominees off of the central, elite dominated platform.

662
00:32:38,720 --> 00:32:41,040
Speaker 1: I don't think that's really sustainable, especially when you consider

663
00:32:41,040 --> 00:32:43,000
Speaker 1: some of the people who are allowed to be on Twitter,

664
00:32:43,080 --> 00:32:45,360
Speaker 1: like it never made any sense, absolutely correct. And also,

665
00:32:45,520 --> 00:32:48,040
Speaker 1: now i'm talking with you, I think there's a possible

666
00:32:48,080 --> 00:32:50,640
Speaker 1: third way. It could be that the Trump account just

667
00:32:50,640 --> 00:32:53,680
Speaker 1: becomes a more traditional campaign account where they tweet out

668
00:32:53,680 --> 00:32:56,720
Speaker 1: links for fundraising and all that. His actual a musings

669
00:32:56,800 --> 00:32:59,120
Speaker 1: are then left to truth the truth, So he'll like

670
00:32:59,240 --> 00:33:02,240
Speaker 1: keep his you know, personal opinions on truth, but use

671
00:33:02,320 --> 00:33:04,640
Speaker 1: the Trump Twitter account like they have right now, like

672
00:33:04,640 --> 00:33:06,640
Speaker 1: the GOP war Room where the you know, tweet out

673
00:33:06,640 --> 00:33:08,880
Speaker 1: clips of Biden that type of stuff. The Trump account

674
00:33:09,000 --> 00:33:10,960
Speaker 1: used to be a mix of those two and now

675
00:33:11,040 --> 00:33:13,760
Speaker 1: could just be that one again. Look, I have no

676
00:33:13,880 --> 00:33:17,120
Speaker 1: clue how it will all go, but't he hasn't come

677
00:33:17,160 --> 00:33:19,080
Speaker 1: back so far. I do think that is, you know,

678
00:33:19,120 --> 00:33:21,760
Speaker 1: somewhat of an indication. His son Trump Junior has been

679
00:33:21,800 --> 00:33:24,880
Speaker 1: posting memes saying I think he still sticks with truth,

680
00:33:24,960 --> 00:33:28,080
Speaker 1: but who knows, so him also keeping it. I think

681
00:33:28,240 --> 00:33:30,600
Speaker 1: it will come down to a whim decision, like at

682
00:33:30,640 --> 00:33:32,400
Speaker 1: the end of the day, if he suffers from an

683
00:33:32,400 --> 00:33:35,000
Speaker 1: attention perspective when he's running for president. I do think

684
00:33:35,040 --> 00:33:38,320
Speaker 1: he will ultimately return, but I think there's interesting ways

685
00:33:38,320 --> 00:33:39,720
Speaker 1: that he could try and work around that, so it

686
00:33:39,760 --> 00:33:41,640
Speaker 1: could be on a timescale too. I could very much

687
00:33:41,640 --> 00:33:44,040
Speaker 1: see us getting just out of the blue, some kind

688
00:33:44,040 --> 00:33:47,760
Speaker 1: of two am tweet about whatever, the special counsel, the

689
00:33:47,800 --> 00:33:50,680
Speaker 1: which chime, who knows, the stolen election. It could be,

690
00:33:51,200 --> 00:33:53,560
Speaker 1: could be anything, So I don't know. I have a

691
00:33:53,560 --> 00:33:57,120
Speaker 1: hard time imagine him, imagining him being disciplined enough to

692
00:33:57,200 --> 00:33:59,720
Speaker 1: stay away from his favorite platform. Yeah, that's right. Okay,

693
00:33:59,760 --> 00:34:01,640
Speaker 1: let's go to the next part. I just love the

694
00:34:01,720 --> 00:34:03,600
Speaker 1: stories so much. Let's go and put this up there

695
00:34:03,600 --> 00:34:06,880
Speaker 1: on the screen. So we got a late Friday pronouncement.

696
00:34:07,200 --> 00:34:10,800
Speaker 1: This was from CBS News. They said, given the news

697
00:34:10,800 --> 00:34:13,520
Speaker 1: that some seventy five percent of existing employees at Twitter

698
00:34:13,560 --> 00:34:16,120
Speaker 1: were going ultimately going to resign and didn't sign Elon's

699
00:34:16,160 --> 00:34:19,800
Speaker 1: quote hardcore pledge, that they would be suspending all Twitter

700
00:34:19,880 --> 00:34:25,719
Speaker 1: activity due to quote uncertainty under Elon Musk's leadership. So

701
00:34:26,160 --> 00:34:29,719
Speaker 1: what they said is that the ultimatum and the fallout,

702
00:34:29,760 --> 00:34:34,040
Speaker 1: they said that their anxiety and enlightened them uncertainty around Twitter,

703
00:34:34,040 --> 00:34:36,680
Speaker 1: and out of an abundance of caution, CBS News is

704
00:34:36,680 --> 00:34:39,319
Speaker 1: pausing its activity on social media as it continues to

705
00:34:39,360 --> 00:34:41,480
Speaker 1: monitor the platform. Now there's a lot of questions on that.

706
00:34:41,840 --> 00:34:45,959
Speaker 1: What does that even mean because nothing that was going

707
00:34:46,000 --> 00:34:49,120
Speaker 1: on at Twitter in terms of the reduction and force

708
00:34:49,520 --> 00:34:52,920
Speaker 1: had really anything to do with the ability for you

709
00:34:53,000 --> 00:34:56,960
Speaker 1: to distribute stories on social media, Like, what exactly was

710
00:34:57,000 --> 00:34:58,839
Speaker 1: the uncertainty that it wouldn't be there? Well, if it's

711
00:34:58,840 --> 00:35:00,719
Speaker 1: not there, then just don't tweet anymore. If it's there,

712
00:35:01,080 --> 00:35:03,640
Speaker 1: why not just keep tweeting because that's your job. I

713
00:35:03,680 --> 00:35:07,319
Speaker 1: could very much understand if you're telling your journalists do

714
00:35:07,520 --> 00:35:10,960
Speaker 1: not DM anything that's private. Oh sure, don't be corresponding

715
00:35:10,960 --> 00:35:14,359
Speaker 1: with sources Like I think there's a real risk of

716
00:35:14,520 --> 00:35:18,600
Speaker 1: you know, heightened hacking risk and heightened security risk. But

717
00:35:19,120 --> 00:35:22,040
Speaker 1: if you're just using it to like send out your stories,

718
00:35:22,080 --> 00:35:25,040
Speaker 1: what is what's the risk? What's the uncertainty? I mean, sure,

719
00:35:25,080 --> 00:35:27,359
Speaker 1: maybe it crashes, maybe it goes down. It's possible when

720
00:35:27,400 --> 00:35:30,000
Speaker 1: you have this like skeleton crew running the whole thing.

721
00:35:30,160 --> 00:35:34,000
Speaker 1: But I think it would be wise to advise your journalists,

722
00:35:34,000 --> 00:35:35,640
Speaker 1: and for any of you out there, I think it

723
00:35:35,680 --> 00:35:37,480
Speaker 1: also would be wise to like de lead some of

724
00:35:37,480 --> 00:35:40,040
Speaker 1: your DM conversations anything that you wouldn't want to be

725
00:35:40,239 --> 00:35:43,520
Speaker 1: like hacked or private information. I think that is wise

726
00:35:43,520 --> 00:35:46,240
Speaker 1: and probably was always wise because dms were never encrypted.

727
00:35:46,680 --> 00:35:50,000
Speaker 1: But outside of that, I don't don't really get it. It

728
00:35:49,880 --> 00:35:52,399
Speaker 1: It seems like a virtue signaling yes. And then that's

729
00:35:52,440 --> 00:35:54,879
Speaker 1: exactly what it turned out to be because literally forty

730
00:35:54,920 --> 00:35:57,839
Speaker 1: eight hours later, let's put this up there, they tweet out.

731
00:35:57,880 --> 00:36:01,160
Speaker 1: After pausing for the weekend to assess the security concerns,

732
00:36:01,400 --> 00:36:05,120
Speaker 1: CBS and Stations is resuming its activity on Twitter as

733
00:36:05,120 --> 00:36:08,080
Speaker 1: we continue to monitor this situation. Goodness, First of all,

734
00:36:08,320 --> 00:36:11,880
Speaker 1: monitor the situation again, what does that mean? Security? Concerns.

735
00:36:12,000 --> 00:36:14,239
Speaker 1: As you said, Okay, there's an argument I guess to

736
00:36:14,280 --> 00:36:17,360
Speaker 1: be you know, frankly, for if you're a journalist or security,

737
00:36:17,480 --> 00:36:20,839
Speaker 1: if you don't have secure comms anywhere, that's a huge problem.

738
00:36:20,880 --> 00:36:26,200
Speaker 1: You know, Instagram, DMS, Twitter, DMS, Facebook Message very signal.

739
00:36:26,239 --> 00:36:28,279
Speaker 1: But I mean a real news organization like this will

740
00:36:28,320 --> 00:36:33,239
Speaker 1: have their own setup system for proton responding with confidential sources. Right, yeah, Look,

741
00:36:33,239 --> 00:36:35,160
Speaker 1: if you really want to be secure, use proton mail

742
00:36:35,160 --> 00:36:38,000
Speaker 1: and use signal like that's that's basically all I use,

743
00:36:38,120 --> 00:36:42,320
Speaker 1: especially signal in private communications for this exact reason, especially

744
00:36:42,320 --> 00:36:45,160
Speaker 1: when talking about something sensitive regarding sources and others. Those

745
00:36:45,200 --> 00:36:47,160
Speaker 1: the only people that there's the only place to I'll

746
00:36:47,160 --> 00:36:49,719
Speaker 1: correspond with anybody on So okay, I think that's a

747
00:36:49,760 --> 00:36:52,480
Speaker 1: fine time actually to remind everyone like why you should

748
00:36:52,560 --> 00:36:56,360
Speaker 1: be doing that. But it was complete and total virtue signaling.

749
00:36:56,640 --> 00:36:59,960
Speaker 1: And it just blied like this real crazy panic that happened.

750
00:37:00,000 --> 00:37:02,480
Speaker 1: And you know, on Friday after the news bro or

751
00:37:02,520 --> 00:37:05,279
Speaker 1: Thursday night by the way, shout out to Counterpoints because

752
00:37:05,280 --> 00:37:07,880
Speaker 1: they had breaking news coverage on that the mass firing

753
00:37:07,920 --> 00:37:10,160
Speaker 1: that was happening at Twitter. Yeah, everybody's like, oh my god,

754
00:37:10,160 --> 00:37:12,040
Speaker 1: Twitter's dying and all that. Guess what Guy's been like

755
00:37:12,040 --> 00:37:14,239
Speaker 1: seventy two hours and Twitter is fine. It's actually it

756
00:37:14,239 --> 00:37:17,360
Speaker 1: turns out it was working completely fine. Says something interesting

757
00:37:17,400 --> 00:37:19,720
Speaker 1: that you could fire eighty eight percent of employees whenever

758
00:37:19,760 --> 00:37:22,120
Speaker 1: you take something over and the platform still works, which

759
00:37:22,160 --> 00:37:24,879
Speaker 1: is kind of crazy. Maybe it'll break and we'll find

760
00:37:24,920 --> 00:37:27,880
Speaker 1: out some Yeah, Shelby News, I don't know yet. Listen,

761
00:37:27,960 --> 00:37:30,400
Speaker 1: I'm not a tech expert. I think there is certainly

762
00:37:30,440 --> 00:37:33,719
Speaker 1: a decent case to be made that Okay, the platform

763
00:37:33,760 --> 00:37:36,600
Speaker 1: can continue just sort of like un momentum for a while,

764
00:37:36,680 --> 00:37:39,240
Speaker 1: but next time something breaks, next time there's an issue,

765
00:37:39,280 --> 00:37:41,600
Speaker 1: do they have the staff employees to be able to

766
00:37:41,640 --> 00:37:43,560
Speaker 1: deal with that. I mean they're talking about there and

767
00:37:43,600 --> 00:37:47,000
Speaker 1: like entire teams that are missing at this point. Basically

768
00:37:47,000 --> 00:37:49,840
Speaker 1: the people that stayed, by reports are people who are

769
00:37:49,840 --> 00:37:52,239
Speaker 1: worried about their immigration status and need the job to

770
00:37:52,239 --> 00:37:54,080
Speaker 1: be able to stay in the country. Yeah, I mean really,

771
00:37:54,239 --> 00:37:55,799
Speaker 1: I mean I think the rest of the staff was like,

772
00:37:55,800 --> 00:37:57,440
Speaker 1: all right, good luck with what you're doing there, and

773
00:37:57,480 --> 00:37:59,279
Speaker 1: you're a whole hardcore pledge. I think I'm going to

774
00:37:59,320 --> 00:38:04,160
Speaker 1: go take this month severance and see if Greener pastures exist.

775
00:38:04,400 --> 00:38:07,759
Speaker 1: It is like, you know, it is wild the way

776
00:38:07,800 --> 00:38:11,760
Speaker 1: that he has just caremed from one idea to the next.

777
00:38:11,840 --> 00:38:15,440
Speaker 1: It has been truly chaotic and insane, especially when you

778
00:38:15,880 --> 00:38:19,279
Speaker 1: consider that he at least purports to believe Twitters is

779
00:38:19,320 --> 00:38:22,000
Speaker 1: actually really important, that it is the digital town square.

780
00:38:22,400 --> 00:38:24,520
Speaker 1: And that's why I care about this ultimately, because I

781
00:38:24,520 --> 00:38:28,719
Speaker 1: think these social media platforms they are sort of they

782
00:38:28,719 --> 00:38:31,799
Speaker 1: are natural monopolies. Like the value from them comes in

783
00:38:31,840 --> 00:38:33,840
Speaker 1: the fact that everybody is there. That's why things like

784
00:38:33,920 --> 00:38:36,520
Speaker 1: gab and parlor, true Social or whatever, we're always going

785
00:38:36,600 --> 00:38:39,240
Speaker 1: to be sort of a sideshow to the main event.

786
00:38:39,719 --> 00:38:42,840
Speaker 1: And so it does matter the quality of the platform,

787
00:38:42,880 --> 00:38:45,719
Speaker 1: the quality of the tools. It matters whether it can

788
00:38:45,840 --> 00:38:48,920
Speaker 1: persist into the future and what that all ultimately looks like.

789
00:38:49,400 --> 00:38:53,200
Speaker 1: And the level of just sort of like throwing everything

790
00:38:53,200 --> 00:38:56,000
Speaker 1: against the wall and careening from one decision like and

791
00:38:56,040 --> 00:38:58,560
Speaker 1: then totally doing a U turn in the completely opposite

792
00:38:58,560 --> 00:39:01,239
Speaker 1: way is not a way to run a company. Yeah,

793
00:39:01,239 --> 00:39:03,080
Speaker 1: and I will say the thing actually pissed me off

794
00:39:03,080 --> 00:39:05,400
Speaker 1: the most. It's actually somehow getting the least amount of

795
00:39:05,400 --> 00:39:08,000
Speaker 1: attention when he said, quote new Twitter policy is freedom

796
00:39:08,000 --> 00:39:10,640
Speaker 1: of speech, but not freedom of reach. Yeah, negative hate

797
00:39:10,680 --> 00:39:13,959
Speaker 1: tweets will be max de boosted and demonetized. No ads

798
00:39:14,040 --> 00:39:16,319
Speaker 1: or other revenue. You won't find the tweet unless you

799
00:39:16,320 --> 00:39:18,799
Speaker 1: specifically seek it out, which is no different than the

800
00:39:18,840 --> 00:39:21,759
Speaker 1: rest of the Internet. I mean, look, as I have

801
00:39:21,880 --> 00:39:24,800
Speaker 1: said from the beginning, what does negative and hate tweet

802
00:39:24,960 --> 00:39:29,160
Speaker 1: even mean? Who decides what's hateful? What's negative? You ask

803
00:39:29,239 --> 00:39:30,719
Speaker 1: one person on the left, they're going to say this

804
00:39:30,760 --> 00:39:32,480
Speaker 1: is hateful. You ask one person on the right, they're

805
00:39:32,480 --> 00:39:35,279
Speaker 1: gonna say that is hateful. What qualifies as negative? It's

806
00:39:35,360 --> 00:39:37,080
Speaker 1: all in the eyes of the beholder, and it should

807
00:39:37,120 --> 00:39:39,760
Speaker 1: not be up to some sort of centralized decision making authority.

808
00:39:39,840 --> 00:39:42,960
Speaker 1: I know, it's not part or anyone else, Yes, anyone

809
00:39:43,080 --> 00:39:46,160
Speaker 1: which exactly like who knows how exactly this is going

810
00:39:46,200 --> 00:39:48,520
Speaker 1: to be enforced? And can you even enforce it given

811
00:39:48,560 --> 00:39:51,080
Speaker 1: the amount of staff that you have. It's actually cheaper

812
00:39:51,239 --> 00:39:53,960
Speaker 1: and easier in the long run to just say all

813
00:39:54,000 --> 00:39:55,920
Speaker 1: tweets get equal treatment as long as they are abide

814
00:39:55,960 --> 00:39:59,200
Speaker 1: by the First Amendment. I mean and Twitter, Twitter's you know,

815
00:39:59,560 --> 00:40:02,520
Speaker 1: use policy or whatever it's called users terms of service

816
00:40:02,680 --> 00:40:05,440
Speaker 1: where they're like, you can't dock someone, Okay, that's fine,

817
00:40:05,680 --> 00:40:08,360
Speaker 1: just let it all float free. It's easier to moderate.

818
00:40:08,719 --> 00:40:11,000
Speaker 1: But and this is what he's getting to at the

819
00:40:11,040 --> 00:40:13,120
Speaker 1: end of the day, this is an admission that ad

820
00:40:13,160 --> 00:40:15,560
Speaker 1: revenue is still king at Twitter. They have to care

821
00:40:15,600 --> 00:40:17,920
Speaker 1: about ads and what gets served and what's not, because

822
00:40:18,040 --> 00:40:20,400
Speaker 1: that is the major revenue line. It's also, frankly, an

823
00:40:20,400 --> 00:40:23,040
Speaker 1: admission that the initial Twitter Blue rollout was a total failure.

824
00:40:23,080 --> 00:40:25,440
Speaker 1: So they say it will come out sometime at the

825
00:40:25,520 --> 00:40:27,120
Speaker 1: end of November. By the way, you and I are

826
00:40:27,120 --> 00:40:31,160
Speaker 1: losing our check marks. What a cry a devastated second

827
00:40:31,160 --> 00:40:34,759
Speaker 1: care lessons check mark or not. The point is is

828
00:40:34,800 --> 00:40:39,600
Speaker 1: that they are admitting essentially here that they really do

829
00:40:39,680 --> 00:40:42,759
Speaker 1: not have any real subscription plan in the interim, and

830
00:40:42,760 --> 00:40:46,239
Speaker 1: that their content moderation policy is going to effectively be

831
00:40:46,560 --> 00:40:48,600
Speaker 1: downstream of that. I will say I saw a little

832
00:40:48,600 --> 00:40:50,120
Speaker 1: bit of good news, which is that there was a

833
00:40:50,160 --> 00:40:52,600
Speaker 1: leaked document saying that the secondary thing that they are

834
00:40:52,600 --> 00:40:55,880
Speaker 1: working on is called Blue for Enterprise, So they get

835
00:40:56,000 --> 00:40:59,719
Speaker 1: maybe they heard our ideas, you know, about charging companies

836
00:40:59,719 --> 00:41:02,680
Speaker 1: and we'll see. But that's not nearly as much as

837
00:41:02,680 --> 00:41:05,960
Speaker 1: a discussion as the actual Twitter Blue verification rollout, which

838
00:41:06,239 --> 00:41:08,640
Speaker 1: you know, look, I want to see initial numbers and revenue.

839
00:41:09,120 --> 00:41:11,480
Speaker 1: It's a private companies, so will never know fully what

840
00:41:11,520 --> 00:41:13,960
Speaker 1: it is. According to Elon, right now they say that

841
00:41:14,120 --> 00:41:17,480
Speaker 1: user there's maximum, there's more users on the platform than

842
00:41:17,520 --> 00:41:19,880
Speaker 1: any time before, but there's no way to know. But

843
00:41:19,920 --> 00:41:21,480
Speaker 1: we also, why does that matter if you have no

844
00:41:21,520 --> 00:41:24,600
Speaker 1: advertise that's it is. I mean, okay, that's fine, but

845
00:41:25,440 --> 00:41:27,799
Speaker 1: they're all tweeting about like how the platform is about

846
00:41:27,840 --> 00:41:29,920
Speaker 1: to tank and go under, and like the whole thing

847
00:41:29,960 --> 00:41:33,520
Speaker 1: is chaotic mess, but it doesn't matter much from a

848
00:41:33,560 --> 00:41:36,440
Speaker 1: revenue perspective. This has always been the challenge with Twitter

849
00:41:36,480 --> 00:41:38,120
Speaker 1: and with other companies too. I mean, the whole idea

850
00:41:38,120 --> 00:41:40,839
Speaker 1: with these tech companies was in the beginning a lot

851
00:41:40,840 --> 00:41:42,200
Speaker 1: of them was like, oh, if you get the users,

852
00:41:42,239 --> 00:41:45,520
Speaker 1: then we'll figure out the business model later. And with Twitter,

853
00:41:45,880 --> 00:41:49,680
Speaker 1: especially if many of the advertisers have fled at this point,

854
00:41:50,080 --> 00:41:52,200
Speaker 1: the fact that you have more users on the platform

855
00:41:52,280 --> 00:41:55,320
Speaker 1: for free doesn't actually help you in terms of your

856
00:41:55,400 --> 00:41:58,160
Speaker 1: business model. And going back to what you were saying

857
00:41:58,160 --> 00:42:01,799
Speaker 1: about using the algorithm to suppress whatever, you know, he

858
00:42:01,880 --> 00:42:05,960
Speaker 1: deems hate speech to be. This is in a lot

859
00:42:05,960 --> 00:42:09,680
Speaker 1: of ways the most pernicious form of censorship, because at

860
00:42:09,760 --> 00:42:13,200
Speaker 1: least with the bands, you know, President Trump has been banned,

861
00:42:13,239 --> 00:42:15,680
Speaker 1: there can be a public debate and discussion about that,

862
00:42:15,760 --> 00:42:18,480
Speaker 1: there can be some pressure placed on the company. But

863
00:42:18,880 --> 00:42:22,240
Speaker 1: you know, it's very hard to determine what's being suppressed

864
00:42:22,239 --> 00:42:24,440
Speaker 1: and what's not being suppressed. We see it on YouTube

865
00:42:24,440 --> 00:42:26,600
Speaker 1: all the time where it's a total black box. I mean,

866
00:42:26,600 --> 00:42:29,120
Speaker 1: we feel like, Okay, this content didn't do well even

867
00:42:29,120 --> 00:42:30,880
Speaker 1: though we thought it would. Is that because it's surprised

868
00:42:31,040 --> 00:42:33,680
Speaker 1: because people just aren't interested. Why did this segment blow

869
00:42:33,760 --> 00:42:36,040
Speaker 1: up when where it's unexpected? You know, maybe people just

870
00:42:36,080 --> 00:42:38,320
Speaker 1: had an interest in it we didn't expect, or maybe

871
00:42:38,360 --> 00:42:40,400
Speaker 1: YouTube like pump the shit out of it. You can't,

872
00:42:40,560 --> 00:42:43,280
Speaker 1: there's no way to know, and you end up sounding

873
00:42:43,320 --> 00:42:46,160
Speaker 1: like a crazy person talking about like shadow banning and

874
00:42:46,840 --> 00:42:50,240
Speaker 1: suppression and all of these things. And since there's zero

875
00:42:50,320 --> 00:42:53,520
Speaker 1: transparency around how any of this is done, it ends

876
00:42:53,640 --> 00:42:56,360
Speaker 1: up being actually a lot more nefarious and pernicious in

877
00:42:56,360 --> 00:42:59,080
Speaker 1: my opinion than just the obvious things like the outright bands,

878
00:42:59,080 --> 00:43:01,680
Speaker 1: where at least you can tell and say definitively what's

879
00:43:01,680 --> 00:43:04,200
Speaker 1: going on. Such a great point, like recently, I feel

880
00:43:04,200 --> 00:43:05,839
Speaker 1: like we've been losing our minds. We're like, we've been

881
00:43:05,880 --> 00:43:08,680
Speaker 1: getting like two to three thousand new subscribers a month

882
00:43:08,680 --> 00:43:11,040
Speaker 1: on our YouTube channel when we previously were getting tens

883
00:43:11,080 --> 00:43:12,960
Speaker 1: of thousands a month. You and I have been doing

884
00:43:12,960 --> 00:43:14,719
Speaker 1: this for a long time. I mean, we know what

885
00:43:14,760 --> 00:43:16,360
Speaker 1: it should look like, and all of a sudden, just

886
00:43:16,560 --> 00:43:19,880
Speaker 1: boom overnight. Is it because of us? I don't know.

887
00:43:20,200 --> 00:43:22,600
Speaker 1: Is it because of broader market conditions? I tend to

888
00:43:22,640 --> 00:43:25,520
Speaker 1: suspect so, But how we don't know. We know nothing

889
00:43:25,640 --> 00:43:29,120
Speaker 1: about controversial content, what's getting served. We could see our

890
00:43:29,160 --> 00:43:31,120
Speaker 1: clicked so it's like, okay, a click through remains the

891
00:43:31,160 --> 00:43:34,360
Speaker 1: same videos knockings, why you know what? For what reason?

892
00:43:34,520 --> 00:43:37,440
Speaker 1: Right are the case? You know? Do people's user preferences changes.

893
00:43:37,840 --> 00:43:39,839
Speaker 1: It's like one of those things where, like you said,

894
00:43:39,880 --> 00:43:43,560
Speaker 1: you genuinely feel like you're losing your mind. And that's

895
00:43:43,640 --> 00:43:47,160
Speaker 1: a huge problem with quote shadow banning what is negative,

896
00:43:47,280 --> 00:43:49,200
Speaker 1: what's not? And he needs to release at the very

897
00:43:49,239 --> 00:43:51,240
Speaker 1: least a guide. He's like, this is the exact criteria

898
00:43:51,320 --> 00:43:54,879
Speaker 1: which we will an analyze tweet. But even then, I mean,

899
00:43:54,880 --> 00:43:57,840
Speaker 1: it's all in the edge cases are where it always matters,

900
00:43:57,880 --> 00:44:01,239
Speaker 1: and especially high profile in the realm of So we'll see,

901
00:44:01,320 --> 00:44:07,080
Speaker 1: but I'm very disappointed in that decision. At the same time,

902
00:44:07,120 --> 00:44:09,480
Speaker 1: we were more in domestic political news, so as was

903
00:44:09,520 --> 00:44:13,000
Speaker 1: covered by counterpoints next last week that wasn't ass to

904
00:44:13,040 --> 00:44:17,200
Speaker 1: cover his counterpoints. I can get the segments all Merchant confused.

905
00:44:17,520 --> 00:44:20,040
Speaker 1: Nancy Pelosi is remaining in the House, but she will

906
00:44:20,080 --> 00:44:23,120
Speaker 1: no longer be the leader of the dem House Caucus,

907
00:44:23,520 --> 00:44:26,960
Speaker 1: and she is putting forward her own handpicked successor. No

908
00:44:27,040 --> 00:44:30,920
Speaker 1: surprise there, Hakeem Jeffreys. In fact, the top three leadership

909
00:44:30,920 --> 00:44:34,239
Speaker 1: positions in the House they have basically hand picked and

910
00:44:34,320 --> 00:44:38,000
Speaker 1: assured that there will be no dissent in this whole process.

911
00:44:38,280 --> 00:44:40,480
Speaker 1: Nancy Pelosi decided this is who she wants to be.

912
00:44:40,520 --> 00:44:44,680
Speaker 1: Her successor is a total like classic corporate Hill who's

913
00:44:44,719 --> 00:44:47,919
Speaker 1: been a total war with the left. And now they're

914
00:44:47,920 --> 00:44:50,319
Speaker 1: bragging about the fact that there is going to be

915
00:44:50,400 --> 00:44:53,400
Speaker 1: no debate or discussion around this whatsoever. Let's go and

916
00:44:53,400 --> 00:44:56,880
Speaker 1: put this up on the screen from Politico. Dems get

917
00:44:56,920 --> 00:45:02,200
Speaker 1: in array on a future leadership after Pelosi departs. They

918
00:45:02,200 --> 00:45:04,920
Speaker 1: say here House Democrats are increasingly likely to elect their

919
00:45:05,000 --> 00:45:07,920
Speaker 1: troika of top leaders. Good work there for the next Congress.

920
00:45:07,960 --> 00:45:11,680
Speaker 1: Without any major confrontation, ensuring a show of unity as

921
00:45:11,680 --> 00:45:14,640
Speaker 1: they enter the minority. They go on to say they

922
00:45:14,680 --> 00:45:18,800
Speaker 1: quietly diffuse several potential conflicts, can have any conflict, God forbid,

923
00:45:18,840 --> 00:45:22,440
Speaker 1: that could have divided their members. Primilea Jaia Paul, I'll

924
00:45:22,440 --> 00:45:23,840
Speaker 1: get to that in a minute, who'd been eyeing a

925
00:45:23,840 --> 00:45:26,720
Speaker 1: slot for the number two announced Friday she was running

926
00:45:26,719 --> 00:45:30,400
Speaker 1: for reelection as chair of the Congressional Progressive Caucus. And

927
00:45:30,440 --> 00:45:33,440
Speaker 1: they have some quotes here that just are to me amazing.

928
00:45:34,200 --> 00:45:36,960
Speaker 1: Jerry Connolly says, you know, with the current leadership moving

929
00:45:36,960 --> 00:45:39,640
Speaker 1: to the side, actually having some certainty and clarity about

930
00:45:39,640 --> 00:45:42,400
Speaker 1: the next teams, I think something reassuring for the caucus.

931
00:45:42,640 --> 00:45:44,400
Speaker 1: They talk about how they like feel like they're the

932
00:45:44,400 --> 00:45:46,720
Speaker 1: adults in the room because they don't have any dissent.

933
00:45:47,160 --> 00:45:50,040
Speaker 1: It's like, God, you all have such contempt for democracy.

934
00:45:50,200 --> 00:45:53,160
Speaker 1: Number one, Number two your idiots if you think that

935
00:45:53,200 --> 00:45:56,239
Speaker 1: the public cares at all whether like what your little

936
00:45:56,280 --> 00:46:00,520
Speaker 1: leadership battles and fights are. And number three, Primilage diopol

937
00:46:00,680 --> 00:46:03,000
Speaker 1: is the biggest fool in the world. I'm sorry this

938
00:46:03,040 --> 00:46:06,479
Speaker 1: woman has been throwing her own caucus and progressives under

939
00:46:06,480 --> 00:46:10,680
Speaker 1: the bus with the foolish idea, which was always a

940
00:46:10,680 --> 00:46:14,040
Speaker 1: fantasy that maybe she was going to get some leadership position,

941
00:46:14,120 --> 00:46:16,120
Speaker 1: and then she just meekly goes to the side. I

942
00:46:16,160 --> 00:46:20,280
Speaker 1: mean to give you one example, you had her calling

943
00:46:20,320 --> 00:46:23,879
Speaker 1: this like Progressive Caucus call to endorse chan Tel Brown

944
00:46:23,920 --> 00:46:27,000
Speaker 1: over Nina Turner and to actually throw in on that

945
00:46:27,120 --> 00:46:29,200
Speaker 1: race on the side of a corporate democrat over an

946
00:46:29,239 --> 00:46:32,279
Speaker 1: actual progressive, much to the chagrin of some of the

947
00:46:32,280 --> 00:46:34,480
Speaker 1: members of the Congressional Progressive Caucus. They could have just

948
00:46:34,560 --> 00:46:37,520
Speaker 1: stayed out, she did that instead. And then most recently,

949
00:46:38,120 --> 00:46:43,520
Speaker 1: this whole freaking Ukraine Progressive letter fiasco, which was all

950
00:46:44,239 --> 00:46:46,560
Speaker 1: at the feet of primilege iapoul who you know. The

951
00:46:46,640 --> 00:46:49,960
Speaker 1: letter gets released immediately. Once she gets pushed back, and

952
00:46:50,000 --> 00:46:53,080
Speaker 1: I'm sure some calls from Pelosi or whoever, she starts

953
00:46:53,120 --> 00:46:54,919
Speaker 1: back to her hood. Let me explain, I didn't really

954
00:46:54,920 --> 00:46:57,600
Speaker 1: mean anything about that whole diplomacy, like wanting to actually

955
00:46:57,640 --> 00:47:00,440
Speaker 1: see the war to come to a close, that in anything,

956
00:47:00,440 --> 00:47:03,240
Speaker 1: and then ultimately retracts the whole thing, throws the staff

957
00:47:03,320 --> 00:47:06,399
Speaker 1: under the bus all again because she thought she had

958
00:47:06,440 --> 00:47:09,520
Speaker 1: some shot at leadership here and then the minute they're like, no,

959
00:47:09,600 --> 00:47:11,680
Speaker 1: you don't she just meekly goes away, and she's not

960
00:47:11,719 --> 00:47:14,480
Speaker 1: the only one. Squad member. Jamal Bowman says he will

961
00:47:14,480 --> 00:47:16,440
Speaker 1: support Hikeem Jeffreys. Let's go and put this up on

962
00:47:16,480 --> 00:47:20,239
Speaker 1: the screen. On the possibility that both of the dem

963
00:47:20,320 --> 00:47:22,520
Speaker 1: leaders in Congress will be New Yorkers, that would be

964
00:47:22,560 --> 00:47:26,800
Speaker 1: Schumer and Hakeem Jeffries. He said, quote that's pretty gangster.

965
00:47:28,080 --> 00:47:33,160
Speaker 1: Keep in mind that he actually Kikeem Jeffries actually sided

966
00:47:33,280 --> 00:47:37,440
Speaker 1: with Elliott Engel over Jamal Bowman in that primary. I mean,

967
00:47:37,920 --> 00:47:40,080
Speaker 1: Pelosi has obviously been at war with the left of

968
00:47:40,120 --> 00:47:44,160
Speaker 1: the caucus. Hikeem Jeffries is, if anything more adversarial. This

969
00:47:44,239 --> 00:47:47,840
Speaker 1: dude's top ally in Congress is literally Josh gottheimer to

970
00:47:47,840 --> 00:47:50,160
Speaker 1: give you a sense of like where he positions himself

971
00:47:50,160 --> 00:47:54,040
Speaker 1: in the caucus. And yet not a word of dissent

972
00:47:54,600 --> 00:47:58,399
Speaker 1: from the supposed fire brands within the Democratic Caucus. I mean, look,

973
00:47:58,480 --> 00:48:01,280
Speaker 1: I think Marjorie Taylor Green and those people are freaking crazy,

974
00:48:01,520 --> 00:48:03,640
Speaker 1: but I have to be jealous of the fact that

975
00:48:03,680 --> 00:48:06,160
Speaker 1: they are willing to piss off their own leadership and

976
00:48:06,200 --> 00:48:10,120
Speaker 1: be adversarial. What is the difference between electing a squad

977
00:48:10,200 --> 00:48:13,040
Speaker 1: member and electing a regular rank and file Democrat at

978
00:48:13,080 --> 00:48:16,759
Speaker 1: this point, when they're completely unwilling to go against and

979
00:48:16,800 --> 00:48:20,040
Speaker 1: be adversarial and piss people off in leadership, it's just

980
00:48:20,120 --> 00:48:24,160
Speaker 1: to me, it's utterly pathetic. Yeah, I completely agree as

981
00:48:24,200 --> 00:48:26,440
Speaker 1: you said. Look like Marjorie Tailer Green and Matt Gates.

982
00:48:26,680 --> 00:48:29,040
Speaker 1: Matt Gates won't even say they'll vote for Kevin McCarthy

983
00:48:29,080 --> 00:48:31,319
Speaker 1: on the floor. He's like, no, unless I absolutely have to,

984
00:48:31,360 --> 00:48:32,920
Speaker 1: I will not do it. I'm going to mount a

985
00:48:32,960 --> 00:48:36,040
Speaker 1: protest vote. You had Thomas Massey and others like basically

986
00:48:36,040 --> 00:48:38,240
Speaker 1: licking their chops saying they're going to do this. Andy

987
00:48:38,239 --> 00:48:41,520
Speaker 1: Biggs ran against Kevin McCarthy. Yeah, and Kevin McCarthy, it's

988
00:48:41,560 --> 00:48:44,319
Speaker 1: not he respected it basically for he's like, okay, I'll

989
00:48:44,360 --> 00:48:46,600
Speaker 1: work with you guys after I lost, Like, and here,

990
00:48:46,640 --> 00:48:49,239
Speaker 1: guys have some real power. Kevin McCarthy is going to

991
00:48:49,280 --> 00:48:51,800
Speaker 1: be Speaker of the House. Ultimately, Like they're going to fold,

992
00:48:51,840 --> 00:48:54,480
Speaker 1: but guess what they're going to extract their pound of flesh. Yes,

993
00:48:54,640 --> 00:48:57,279
Speaker 1: they got Marjorie back on the committees. They're going to

994
00:48:57,320 --> 00:49:00,719
Speaker 1: get committee chairmanships, whatever little rule changes they want, They're

995
00:49:00,760 --> 00:49:03,319
Speaker 1: going to get something to enhance their position within the

996
00:49:03,360 --> 00:49:06,439
Speaker 1: caucaus and to be able to consolidate more power. These

997
00:49:06,480 --> 00:49:09,480
Speaker 1: people who just immediately are like, oh, Haikiem Jeffries, that's gangster,

998
00:49:09,600 --> 00:49:12,480
Speaker 1: that's amazing, that's great. Even though he's against everything we

999
00:49:12,560 --> 00:49:15,160
Speaker 1: claim to stand for and has been like shitting on

1000
00:49:15,280 --> 00:49:18,399
Speaker 1: us relentlessly for years, we're just going to immediately bend

1001
00:49:18,400 --> 00:49:20,680
Speaker 1: the knee. Pathetic is the only word that I can

1002
00:49:20,719 --> 00:49:22,839
Speaker 1: come up with to use it. And actually New York

1003
00:49:22,880 --> 00:49:25,160
Speaker 1: Magazine had a piece here on Hikeem Jeffries. They call

1004
00:49:25,200 --> 00:49:27,040
Speaker 1: him speaker of the establishment. I think we have this

1005
00:49:27,080 --> 00:49:29,359
Speaker 1: put this up on the screen, and it's just all

1006
00:49:29,360 --> 00:49:32,680
Speaker 1: about I mean, they say, Hikiem Jefferies becoming House Democrats

1007
00:49:32,760 --> 00:49:35,319
Speaker 1: next leader is not necessarily a sign of progress. Yeah,

1008
00:49:35,400 --> 00:49:37,799
Speaker 1: you think they go through some of his wars on

1009
00:49:37,840 --> 00:49:40,239
Speaker 1: the left, but ultimately, you know, the big conclusion here

1010
00:49:40,320 --> 00:49:43,640
Speaker 1: for anybody, regardless of their ideological view, is this is

1011
00:49:43,680 --> 00:49:47,759
Speaker 1: an attempt for the eighty somethings in leadership, like the

1012
00:49:47,800 --> 00:49:51,240
Speaker 1: old people in leadership, to hand the torch to people

1013
00:49:51,320 --> 00:49:55,320
Speaker 1: who will be exactly like them. And with Pelosi remaining

1014
00:49:55,360 --> 00:49:57,120
Speaker 1: in Congress for a while too, I mean there's no

1015
00:49:57,160 --> 00:49:59,959
Speaker 1: doubt Hakem Jefferies will just basically be doing her bitting

1016
00:50:00,160 --> 00:50:03,319
Speaker 1: of whatever she tells him to do. And you know,

1017
00:50:03,800 --> 00:50:07,120
Speaker 1: this is their play to sort of preserve their status

1018
00:50:07,239 --> 00:50:10,920
Speaker 1: quo positioning within the Democratic Party and positioning of the

1019
00:50:10,920 --> 00:50:13,440
Speaker 1: Democratic Party and definitely into the future. So this is

1020
00:50:13,480 --> 00:50:15,040
Speaker 1: why I get pissed off when people are like, we

1021
00:50:15,080 --> 00:50:18,200
Speaker 1: need generational changes, Like what does that mean? Let's talk

1022
00:50:18,200 --> 00:50:21,400
Speaker 1: about ideology, Let's talk about tactics. At the very least,

1023
00:50:22,360 --> 00:50:24,920
Speaker 1: just passing the torch to someone who is younger than

1024
00:50:24,960 --> 00:50:27,560
Speaker 1: you but ultimately just as corrupt as you is not

1025
00:50:27,680 --> 00:50:30,680
Speaker 1: really progress. Oh yeah, I mean, and here in this situation,

1026
00:50:30,840 --> 00:50:33,400
Speaker 1: this is like when Putin was not President of rushing.

1027
00:50:33,840 --> 00:50:36,359
Speaker 1: You know what I mean, Hakem Jeffries really is our

1028
00:50:36,440 --> 00:50:41,560
Speaker 1: Medvedev of the Air's Like, immediately that's what I thought of.

1029
00:50:41,640 --> 00:50:43,120
Speaker 1: I was like, this is just as fake as when

1030
00:50:43,120 --> 00:50:45,279
Speaker 1: Putin was no longer running, Like, who do you think

1031
00:50:45,360 --> 00:50:46,440
Speaker 1: is going to be whipping the votes? Who do you

1032
00:50:46,440 --> 00:50:47,840
Speaker 1: think he's been raising all the money? Who do you

1033
00:50:47,840 --> 00:50:49,760
Speaker 1: think is going to be You know, here's a question.

1034
00:50:49,800 --> 00:50:51,640
Speaker 1: Whenever they do a major fundraiser, are they to call

1035
00:50:51,640 --> 00:50:53,520
Speaker 1: hackeen Jefferies are going to call Nancy Pols. They're going

1036
00:50:53,520 --> 00:50:56,080
Speaker 1: to call Nancy and as long as she's in Congress,

1037
00:50:56,239 --> 00:50:59,480
Speaker 1: that's just how it's going to be, unless she actually retires.

1038
00:50:59,520 --> 00:51:02,239
Speaker 1: So we have it very clear here. He's basically the

1039
00:51:02,239 --> 00:51:04,640
Speaker 1: front man, you know, for Jim Clyburn, who by the way,

1040
00:51:04,719 --> 00:51:07,600
Speaker 1: loves him. You know, he's like his chosen protege, not

1041
00:51:07,600 --> 00:51:10,480
Speaker 1: not a surprise. Same with Nancy Pelosi, Stanny Hoyer, all

1042
00:51:10,560 --> 00:51:13,279
Speaker 1: these guys basically groomed him for power, and now he

1043
00:51:13,320 --> 00:51:15,840
Speaker 1: will be the person at the top. And you know,

1044
00:51:15,880 --> 00:51:19,520
Speaker 1: there's zero ideological change. He's lockstep with the Biden administration

1045
00:51:19,840 --> 00:51:22,440
Speaker 1: on this and you can expect basically nothing. As you said,

1046
00:51:23,080 --> 00:51:25,080
Speaker 1: he almost can't blame them for doing that. That's very

1047
00:51:25,120 --> 00:51:27,640
Speaker 1: standard for people who are in power. But for the

1048
00:51:27,680 --> 00:51:30,400
Speaker 1: so called dissidence and people who want some sort of

1049
00:51:30,440 --> 00:51:33,080
Speaker 1: change within the caucus that doesn't exist at all, and

1050
00:51:33,080 --> 00:51:35,319
Speaker 1: they're not willing to do anything, Nope, to try and

1051
00:51:35,360 --> 00:51:38,200
Speaker 1: get even somewhat a five percent different outcome. Nope. In

1052
00:51:38,239 --> 00:51:40,720
Speaker 1: the House of Representatives. No, they're just they're so afraid

1053
00:51:40,719 --> 00:51:43,520
Speaker 1: of their own shadow. They're so afraid of someone like

1054
00:51:43,640 --> 00:51:46,760
Speaker 1: saying something mean about him on cable news. It's just sad,

1055
00:51:46,880 --> 00:51:49,319
Speaker 1: I mean, honestly, like, is it too much to ask

1056
00:51:49,360 --> 00:51:53,200
Speaker 1: for to have one one bomb thrower, one real dissident

1057
00:51:53,680 --> 00:51:57,240
Speaker 1: in the House Democratic Caucus? Apparently? I mean, I guess ultimately,

1058
00:51:57,320 --> 00:52:00,720
Speaker 1: respect to Pelosi because she got them all to completely

1059
00:52:00,719 --> 00:52:03,280
Speaker 1: bend the knee and just go along with whatever succession

1060
00:52:03,320 --> 00:52:07,200
Speaker 1: plan they've put up. Ultimately, So there you go. Congratulations, congrats.

1061
00:52:07,280 --> 00:52:09,759
Speaker 1: All right, let's move on a story near and dear

1062
00:52:09,800 --> 00:52:14,320
Speaker 1: to my heart ticket Master after the fracas, that's a

1063
00:52:14,320 --> 00:52:16,640
Speaker 1: good word for it, of what happened with the Taylor

1064
00:52:16,680 --> 00:52:18,520
Speaker 1: Swift sale. Let's go and put this up there on

1065
00:52:18,560 --> 00:52:20,960
Speaker 1: the screen. Well, it turns out we're not the only

1066
00:52:21,000 --> 00:52:24,080
Speaker 1: ones who took notice. The Department of Justice is investigating

1067
00:52:24,360 --> 00:52:29,319
Speaker 1: Ticketmaster's parent company we've recently combined in twenty ten with

1068
00:52:29,560 --> 00:52:32,440
Speaker 1: the promoter Live Nation. This can get a little bit

1069
00:52:32,520 --> 00:52:35,720
Speaker 1: complicated to understand, but it's a bit simple. Ticketmaster, obviously,

1070
00:52:35,760 --> 00:52:38,319
Speaker 1: is the place that sells the tickets. Live Nation is

1071
00:52:38,360 --> 00:52:41,680
Speaker 1: the promoter which puts on forty thousand events around the world,

1072
00:52:42,080 --> 00:52:45,759
Speaker 1: sold four hundred and eighty five million tickets through Ticketmaster,

1073
00:52:45,840 --> 00:52:48,560
Speaker 1: according to its own company support. It is one of

1074
00:52:48,600 --> 00:52:52,600
Speaker 1: the music industry's largest powers for management for the personal

1075
00:52:52,640 --> 00:52:55,680
Speaker 1: representatives who actually negotiate the business deals on behalf of

1076
00:52:55,719 --> 00:52:58,600
Speaker 1: the artists, and it has over one hundred managers who

1077
00:52:58,600 --> 00:53:01,120
Speaker 1: are working with four hund and fifty artists. Why does

1078
00:53:01,120 --> 00:53:03,759
Speaker 1: that matter because it's vertically integrated, as in, they're the

1079
00:53:03,800 --> 00:53:05,279
Speaker 1: ones who work with the artists, are the ones who

1080
00:53:05,280 --> 00:53:08,160
Speaker 1: put on the shows, do the promotion, and then use Ticketmaster,

1081
00:53:08,280 --> 00:53:11,040
Speaker 1: then sell, presumably rolling up the fees and getting as

1082
00:53:11,120 --> 00:53:14,040
Speaker 1: much of a profit as possible and gouging us and

1083
00:53:14,160 --> 00:53:16,680
Speaker 1: all of us even more so for the fake fees

1084
00:53:16,760 --> 00:53:18,919
Speaker 1: at the end. Whenever you go ahead and check out.

1085
00:53:19,480 --> 00:53:21,879
Speaker 1: The reason why it's really in the public conscious vice

1086
00:53:22,000 --> 00:53:24,560
Speaker 1: right now is the fallout from what happened at the

1087
00:53:24,560 --> 00:53:27,120
Speaker 1: tailor Swift sales. So there's been a slide update since

1088
00:53:27,320 --> 00:53:29,840
Speaker 1: we went ahead and did that segment. It's actually much worse,

1089
00:53:30,080 --> 00:53:34,080
Speaker 1: which is that after all of the slowdown with the

1090
00:53:34,120 --> 00:53:37,360
Speaker 1: pre sale, where effectively people were stranded for hours online

1091
00:53:37,400 --> 00:53:38,480
Speaker 1: as so whether they were going to be able to

1092
00:53:38,480 --> 00:53:40,880
Speaker 1: get these tickets or not, then there was a capital

1093
00:53:40,920 --> 00:53:43,400
Speaker 1: one pre sale and that two was a massive failure.

1094
00:53:43,520 --> 00:53:45,600
Speaker 1: Tickets were then supposed to go on sale to the

1095
00:53:45,640 --> 00:53:48,239
Speaker 1: general public, but then they pulled that out at the

1096
00:53:48,320 --> 00:53:52,120
Speaker 1: last minute with some absurd and insane statement where they

1097
00:53:52,160 --> 00:53:56,200
Speaker 1: said that given pre existing inventory that from the sale,

1098
00:53:56,440 --> 00:53:59,000
Speaker 1: that tickets would no longer be available, which means that

1099
00:53:59,040 --> 00:54:01,680
Speaker 1: the presale itself was the real sale and the gen

1100
00:54:01,760 --> 00:54:05,680
Speaker 1: Pop had no chance to actually buy any tickets to

1101
00:54:05,840 --> 00:54:08,759
Speaker 1: these actual shows, meaning all of us who were not

1102
00:54:08,800 --> 00:54:11,040
Speaker 1: able to get tickets to the show now have to

1103
00:54:11,080 --> 00:54:13,160
Speaker 1: go on sub hub and look at ones which are

1104
00:54:13,160 --> 00:54:16,800
Speaker 1: going for like three four thousand dollars a seat. I'm sorry, Taylor,

1105
00:54:16,880 --> 00:54:18,440
Speaker 1: it's not going to happen. Love you, but you know

1106
00:54:19,120 --> 00:54:23,680
Speaker 1: that's just too much for me. And you have all

1107
00:54:23,760 --> 00:54:28,200
Speaker 1: these cases of fans who really you know, look, everybody

1108
00:54:28,200 --> 00:54:29,719
Speaker 1: knows it's kind of a crapshoot. Whenever you want to

1109
00:54:29,719 --> 00:54:31,920
Speaker 1: go to a concert, especially of somebody of this caliber,

1110
00:54:32,000 --> 00:54:34,960
Speaker 1: they're expecting to pay some money, but they do not

1111
00:54:35,120 --> 00:54:38,239
Speaker 1: expect to be put, you know, treated so terribly by

1112
00:54:38,280 --> 00:54:40,399
Speaker 1: the company. And then even for those who were lucky

1113
00:54:40,480 --> 00:54:42,640
Speaker 1: enough to get the tickets, they were paying one hundreds

1114
00:54:42,640 --> 00:54:45,360
Speaker 1: of dollars in fees, so called convenience fees, so you

1115
00:54:45,400 --> 00:54:47,200
Speaker 1: can get it on my phone in the year twenty

1116
00:54:47,239 --> 00:54:49,839
Speaker 1: twenty two. It's totally absurd. The same thing happened when

1117
00:54:49,840 --> 00:54:51,640
Speaker 1: I wanted when I bought Blake Poine eighty two tickets,

1118
00:54:51,680 --> 00:54:53,640
Speaker 1: like paid over one hundred and fifty dollars in fees

1119
00:54:53,680 --> 00:54:55,560
Speaker 1: for like four tickets. And it's just one of those

1120
00:54:55,560 --> 00:54:57,319
Speaker 1: things where you just eat it. And by the way,

1121
00:54:57,520 --> 00:54:59,560
Speaker 1: you know, I hate to say it, guess who's selling

1122
00:54:59,560 --> 00:55:02,560
Speaker 1: our ticket for our shows, our live shows. We have

1123
00:55:02,760 --> 00:55:06,720
Speaker 1: no choice. They never there was no ask nothing. Given

1124
00:55:06,800 --> 00:55:09,359
Speaker 1: the venue, you get the deal, you get paid out

1125
00:55:09,400 --> 00:55:12,440
Speaker 1: your some and that's it. The whoever your is, your

1126
00:55:12,440 --> 00:55:14,680
Speaker 1: audience is coming. I don't know. We have no idea,

1127
00:55:14,920 --> 00:55:17,239
Speaker 1: we have no data nothing. Ticketmaster gets to sell it.

1128
00:55:17,360 --> 00:55:19,880
Speaker 1: They get to charge our fans, you know, people who

1129
00:55:19,960 --> 00:55:22,759
Speaker 1: we love and respect and like hold so dear like

1130
00:55:22,800 --> 00:55:25,200
Speaker 1: they get to charge them convenience fees. There's nothing that

1131
00:55:25,239 --> 00:55:27,600
Speaker 1: we can do about it. Yep. And look, if Pearl

1132
00:55:27,640 --> 00:55:30,919
Speaker 1: Jam couldn't win this contest, you know, like if Taylor

1133
00:55:30,960 --> 00:55:32,799
Speaker 1: Swift is at the whims of these people, like what

1134
00:55:32,840 --> 00:55:35,000
Speaker 1: are people like us supposed to do well? And of

1135
00:55:35,000 --> 00:55:37,480
Speaker 1: course proud to be partnered with bad Solar, who's been

1136
00:55:37,520 --> 00:55:39,880
Speaker 1: doing amazing work on this. We had them on Crystal

1137
00:55:39,920 --> 00:55:42,400
Speaker 1: Conferences last week to to explain all of this and

1138
00:55:42,440 --> 00:55:44,400
Speaker 1: to break it all down and just to give you

1139
00:55:44,400 --> 00:55:47,400
Speaker 1: a little bit more of the backstory. So this merger,

1140
00:55:47,600 --> 00:55:51,840
Speaker 1: which was approved i think under the Obama administration, between

1141
00:55:51,880 --> 00:55:54,960
Speaker 1: Live Nation and Ticketmaster, it was controversial at the time

1142
00:55:55,000 --> 00:55:57,680
Speaker 1: because people could see like this could really you know,

1143
00:55:57,760 --> 00:56:00,800
Speaker 1: this could become a behemoth that just has complete control

1144
00:56:00,880 --> 00:56:04,640
Speaker 1: over the entire industry. And so when the merger was

1145
00:56:04,680 --> 00:56:10,040
Speaker 1: approved over significant opposition. By the way, what the Justice

1146
00:56:10,040 --> 00:56:12,160
Speaker 1: Department decided to do is they required them to sell

1147
00:56:12,200 --> 00:56:14,600
Speaker 1: some parts of the business, but they also required them

1148
00:56:14,640 --> 00:56:18,439
Speaker 1: to reach a legal settlement where Live Nation was not

1149
00:56:18,520 --> 00:56:22,400
Speaker 1: allowed to threaten concert venues with losing access to the

1150
00:56:22,680 --> 00:56:26,560
Speaker 1: to artists that it promotes as part of its services.

1151
00:56:26,920 --> 00:56:29,160
Speaker 1: So what they're saying is basically like, Okay, if you

1152
00:56:29,200 --> 00:56:31,400
Speaker 1: decide not to use Ticketmaster, you're not allowed to then

1153
00:56:31,480 --> 00:56:33,640
Speaker 1: punish these venues by saying, well, you're not going to

1154
00:56:33,640 --> 00:56:35,239
Speaker 1: get to have access to any of these tours and

1155
00:56:35,280 --> 00:56:37,839
Speaker 1: any of these artists that we work with. Well, guess

1156
00:56:37,880 --> 00:56:42,000
Speaker 1: what they didn't follow that agreement. In late twenty nineteen,

1157
00:56:42,080 --> 00:56:44,799
Speaker 1: there was an investigation, the Justice Department found that Live

1158
00:56:44,880 --> 00:56:49,719
Speaker 1: Nation had repeatedly violated this part of the decree. They

1159
00:56:49,760 --> 00:56:52,239
Speaker 1: then extended the terms of the settlement by five years

1160
00:56:52,280 --> 00:56:54,760
Speaker 1: to twenty twenty five. They adjusted some of the language

1161
00:56:54,760 --> 00:56:56,960
Speaker 1: to make it more clear of like you're not allowed

1162
00:56:57,000 --> 00:57:01,240
Speaker 1: to bully and cajole and threaten and withhold other artists

1163
00:57:01,239 --> 00:57:04,000
Speaker 1: and other tours from these venues if they decide not

1164
00:57:04,080 --> 00:57:06,200
Speaker 1: to use your services, but just to give you one

1165
00:57:06,280 --> 00:57:10,200
Speaker 1: window into the type of abusive behavior that they have

1166
00:57:10,360 --> 00:57:13,759
Speaker 1: engaged in, and not just abusive but outright illegal. That's

1167
00:57:13,880 --> 00:57:16,320
Speaker 1: one of the things that the Justice Department is reportedly

1168
00:57:16,600 --> 00:57:19,120
Speaker 1: looking into. And you know, this is one of the areas,

1169
00:57:19,160 --> 00:57:21,640
Speaker 1: Like I got a lot of criticisms of the Bide administration,

1170
00:57:21,720 --> 00:57:24,440
Speaker 1: this is one area where they have been genuinely better

1171
00:57:24,560 --> 00:57:30,240
Speaker 1: than Trump, certainly wildly better than the Obama administration, than

1172
00:57:30,280 --> 00:57:33,400
Speaker 1: the Clinton administration, the Bush administration. I mean, it has

1173
00:57:33,480 --> 00:57:36,440
Speaker 1: been decades since we had an administration that was remotely

1174
00:57:36,480 --> 00:57:41,040
Speaker 1: serious about actual anti trust and so this effort to

1175
00:57:41,080 --> 00:57:44,960
Speaker 1: investigate Ticketmaster is part of that. You know. Another they

1176
00:57:45,720 --> 00:57:49,320
Speaker 1: successfully persuaded judge to block Penguin Random Houses purchase of

1177
00:57:49,360 --> 00:57:52,160
Speaker 1: Simon and Schuster. They've had pushed some other cases that

1178
00:57:52,200 --> 00:57:54,960
Speaker 1: they've been unsuccessful at, but overall they've tried to take

1179
00:57:54,960 --> 00:57:57,680
Speaker 1: a different approach to antitrust that isn't just on this

1180
00:57:57,880 --> 00:58:01,280
Speaker 1: question of whether or not consumers are getting lower prices.

1181
00:58:01,320 --> 00:58:03,680
Speaker 1: That used to be very very narrow and very very limited.

1182
00:58:03,880 --> 00:58:06,800
Speaker 1: The Justice Department was very lax about what mergers they

1183
00:58:06,880 --> 00:58:09,200
Speaker 1: let go through, and so it's going to take a

1184
00:58:09,240 --> 00:58:12,880
Speaker 1: while to sort of reorient all of antitrust law back

1185
00:58:12,920 --> 00:58:15,000
Speaker 1: to how it should have been to start with. But

1186
00:58:15,120 --> 00:58:17,560
Speaker 1: this is a really important step in that direction. Yeah,

1187
00:58:17,600 --> 00:58:19,560
Speaker 1: and Taylor Swift actually put out a statement, let's go

1188
00:58:19,640 --> 00:58:22,080
Speaker 1: and put it up there on the screen. I'll go

1189
00:58:22,120 --> 00:58:23,960
Speaker 1: ahead and read it, and she says, well, it goes

1190
00:58:24,000 --> 00:58:26,080
Speaker 1: without saying. I'm extremely protective of my fans who've been

1191
00:58:26,080 --> 00:58:28,200
Speaker 1: doing this for decades. I've bought so many elements of

1192
00:58:28,240 --> 00:58:30,640
Speaker 1: my career in house. I've done this specifically to improve

1193
00:58:30,640 --> 00:58:32,720
Speaker 1: the quality of the experience by doing it myself with

1194
00:58:32,800 --> 00:58:35,120
Speaker 1: my team, who cares much about my fans as I do.

1195
00:58:35,400 --> 00:58:37,640
Speaker 1: It's really difficult for me to trust an outside entity

1196
00:58:37,640 --> 00:58:40,440
Speaker 1: with these relationships and loyalties, and excruciating for me to

1197
00:58:40,520 --> 00:58:43,320
Speaker 1: just watch mistakes happen with no recourse. There are multiple

1198
00:58:43,320 --> 00:58:44,840
Speaker 1: reasons why people had such a hard time trying to

1199
00:58:44,840 --> 00:58:46,560
Speaker 1: get tickets. I'm trying to figure out how the situation

1200
00:58:46,600 --> 00:58:48,800
Speaker 1: could be improved. I'm not going to make excuses for

1201
00:58:48,960 --> 00:58:52,440
Speaker 1: anyone because we ask them multiple times if they could

1202
00:58:52,520 --> 00:58:55,120
Speaker 1: handle this kind of demand, and we were reassured that

1203
00:58:55,200 --> 00:58:57,720
Speaker 1: they could. It is truly amazing two point four million

1204
00:58:57,760 --> 00:58:59,920
Speaker 1: people got tickets, but it really pisses me off that

1205
00:59:00,000 --> 00:59:01,200
Speaker 1: a lot of them feel like they had to go

1206
00:59:01,240 --> 00:59:03,400
Speaker 1: through several bear attacks to get them, and to those

1207
00:59:03,400 --> 00:59:05,080
Speaker 1: who didn't, all I can say is my hope is

1208
00:59:05,120 --> 00:59:07,320
Speaker 1: to provide more opportunities for us to get together and

1209
00:59:07,360 --> 00:59:09,400
Speaker 1: sing these songs. Thanks for wanting to be there. So

1210
00:59:09,560 --> 00:59:11,840
Speaker 1: a couple of veiled threats there. Number one bringing in

1211
00:59:11,880 --> 00:59:14,919
Speaker 1: house after she took on both Apple and Spotify, which

1212
00:59:14,920 --> 00:59:17,760
Speaker 1: we'll recall. You know, she's you know, re recording her album.

1213
00:59:17,880 --> 00:59:20,160
Speaker 1: She's kind of been a pioneer in the music industry

1214
00:59:20,160 --> 00:59:22,160
Speaker 1: trying to like use her position to try and make

1215
00:59:22,160 --> 00:59:25,000
Speaker 1: it better for artists, like all the way down. So

1216
00:59:25,040 --> 00:59:28,240
Speaker 1: this could be an opportunity like truly taking on the

1217
00:59:28,280 --> 00:59:30,560
Speaker 1: power of Ticketmaster. But I think the fact is she

1218
00:59:30,560 --> 00:59:32,919
Speaker 1: didn't name them for a reason. Guys, like they're still

1219
00:59:33,000 --> 00:59:35,000
Speaker 1: very powerful, and you know, at the end of the day,

1220
00:59:35,240 --> 00:59:37,120
Speaker 1: she's still she's not saying like, oh, I've got extra

1221
00:59:37,120 --> 00:59:39,400
Speaker 1: tickets or I'm gonna be doing It's like, well, she's like, well,

1222
00:59:39,520 --> 00:59:41,440
Speaker 1: so those have got tickets. It's great. I'll see you

1223
00:59:41,480 --> 00:59:43,880
Speaker 1: all there. For everybody else, I hope we can do

1224
00:59:43,920 --> 00:59:46,360
Speaker 1: something in future. It's like, all right, I mean, I

1225
00:59:46,400 --> 00:59:49,280
Speaker 1: guess that's nice. It's good to see that you're pissed off.

1226
00:59:49,680 --> 00:59:52,920
Speaker 1: Will you actually speak out against the company? We'll see overall,

1227
00:59:53,040 --> 00:59:56,800
Speaker 1: very very positive development. You know, our brief foray into

1228
00:59:57,080 --> 00:59:59,120
Speaker 1: live events has really taught us that Crystal, just like

1229
00:59:59,160 --> 01:00:02,320
Speaker 1: how little power you have whenever you're putting on this show,

1230
01:00:02,360 --> 01:00:04,680
Speaker 1: like you could like we're the ones ultimately you're putting

1231
01:00:04,720 --> 01:00:06,800
Speaker 1: butts in seats and we could do nothing, you know,

1232
01:00:07,160 --> 01:00:09,120
Speaker 1: and taking on the people who sell the tickets. You know,

1233
01:00:09,120 --> 01:00:11,720
Speaker 1: it's all pre negotiated, like all this other stuff. And

1234
01:00:12,520 --> 01:00:14,600
Speaker 1: to the extent that you have any power, it's only

1235
01:00:14,600 --> 01:00:17,360
Speaker 1: somebody like her. And even whenever they colossally screw up

1236
01:00:17,520 --> 01:00:20,080
Speaker 1: her sale of tickets, she cannot name them in her statement,

1237
01:00:20,320 --> 01:00:23,080
Speaker 1: I think that shows you everything about where the power lies. Yeah,

1238
01:00:23,120 --> 01:00:25,480
Speaker 1: I wish she would sue them, honestly, it would be great. Yeah,

1239
01:00:25,480 --> 01:00:27,160
Speaker 1: it'd be good for the industry at least has like

1240
01:00:27,200 --> 01:00:29,560
Speaker 1: the money to get like the good lawyers and actually

1241
01:00:29,640 --> 01:00:31,720
Speaker 1: make it well, especially if she got an assurance in writing,

1242
01:00:32,040 --> 01:00:34,640
Speaker 1: we can you know, be able to handle the but

1243
01:00:34,840 --> 01:00:37,080
Speaker 1: probably they had their butts covered because they know how

1244
01:00:37,440 --> 01:00:38,840
Speaker 1: I mean. This is the other problem when you have

1245
01:00:38,920 --> 01:00:41,760
Speaker 1: a monopoly is like you have no incentive to keep

1246
01:00:41,760 --> 01:00:44,280
Speaker 1: your system up to date, you have no incentive to

1247
01:00:44,320 --> 01:00:46,840
Speaker 1: make it a good customer experience, you have no incentive

1248
01:00:46,880 --> 01:00:49,600
Speaker 1: to do anything for anyone. Because you're a monopolist, you

1249
01:00:49,600 --> 01:00:52,000
Speaker 1: can do whatever the hell you want and just gouge

1250
01:00:52,040 --> 01:00:54,600
Speaker 1: the hell out of people. And even Taylor Swift is like,

1251
01:00:54,960 --> 01:00:57,560
Speaker 1: you know, subject to his mercy to your whims and

1252
01:00:57,600 --> 01:01:01,000
Speaker 1: the failures of your platform. So it's not an accident

1253
01:01:01,400 --> 01:01:04,840
Speaker 1: that you had this level of failure on the Ticketmaster platform.

1254
01:01:05,080 --> 01:01:07,560
Speaker 1: It comes directly out of the result of them being

1255
01:01:07,560 --> 01:01:10,360
Speaker 1: a monopoly. Yeah, absolutely, all right. And then final segment

1256
01:01:10,400 --> 01:01:15,000
Speaker 1: here really interesting actually appearance by a billionaire investor Barry

1257
01:01:15,120 --> 01:01:18,880
Speaker 1: Sternlick on CNBC. It's very rare to see this level

1258
01:01:18,920 --> 01:01:22,040
Speaker 1: of truth dropped first by a billionaire, second on CNBC,

1259
01:01:22,360 --> 01:01:24,720
Speaker 1: third about the Federal Reserve, and I thought it was

1260
01:01:24,760 --> 01:01:26,720
Speaker 1: an important segment, so we want to highlight it. Let's

1261
01:01:26,720 --> 01:01:30,400
Speaker 1: take a listen. You've heard any of these people recognize

1262
01:01:30,440 --> 01:01:33,520
Speaker 1: the impact of US rates on the global economies and

1263
01:01:33,520 --> 01:01:36,000
Speaker 1: how countries they can't afford higher rates, have to raise

1264
01:01:36,080 --> 01:01:38,400
Speaker 1: rates and put the UK's into recession. And have they

1265
01:01:38,400 --> 01:01:41,040
Speaker 1: ever talked to you about a thirty two trillion dollar deficit.

1266
01:01:41,440 --> 01:01:44,040
Speaker 1: This is not Paul Vulker. We did not have a

1267
01:01:44,080 --> 01:01:47,200
Speaker 1: thirty two trillion dollar deficit when Vulgar took grades to

1268
01:01:47,240 --> 01:01:50,240
Speaker 1: twenty percent. The biggest pain will be the US government.

1269
01:01:50,640 --> 01:01:53,080
Speaker 1: The US government will have to sell paper from now

1270
01:01:53,120 --> 01:01:55,880
Speaker 1: to the end of tomorrow, forcing rates higher because there'll

1271
01:01:55,920 --> 01:01:59,600
Speaker 1: be no buyers. I mean, this is self inflicted suicide.

1272
01:02:00,000 --> 01:02:03,240
Speaker 1: It's a terrible idea. It's a terrible and it's not necessary.

1273
01:02:03,240 --> 01:02:06,000
Speaker 1: The economy is slowing on its own. Just look at

1274
01:02:06,040 --> 01:02:10,080
Speaker 1: those savings rates, look at consumer debt, look at the

1275
01:02:10,200 --> 01:02:13,480
Speaker 1: rollover in rents and then CPI what are they looking at.

1276
01:02:14,080 --> 01:02:17,320
Speaker 1: I mean, he's not wrong. Everything he said is correct.

1277
01:02:17,560 --> 01:02:19,920
Speaker 1: Actually on that debt piece. It's something that's been highlighted

1278
01:02:19,960 --> 01:02:21,800
Speaker 1: to a lot of Washington insiders, like paying down our

1279
01:02:21,840 --> 01:02:25,200
Speaker 1: debt just became enormously more expensive, which just means that

1280
01:02:25,360 --> 01:02:27,600
Speaker 1: hitting the debt ceiling, well, you know, it's going to

1281
01:02:27,680 --> 01:02:30,560
Speaker 1: be more difficult. As he said, he's correct, and we'll

1282
01:02:30,600 --> 01:02:32,640
Speaker 1: have to sell a lot more paper in order to

1283
01:02:32,640 --> 01:02:36,360
Speaker 1: try and cover that. It can actually have a spiraling crisis,

1284
01:02:36,640 --> 01:02:39,640
Speaker 1: far more so than whatever the Fed is currently trying

1285
01:02:39,680 --> 01:02:43,000
Speaker 1: to correct. As he also said, Look, yes, this is

1286
01:02:43,000 --> 01:02:45,000
Speaker 1: why the economy is weird and possibly why I think

1287
01:02:45,040 --> 01:02:48,200
Speaker 1: the Democrats didn't actually get totally blown out. The unemployment

1288
01:02:48,280 --> 01:02:50,640
Speaker 1: rate is still low, but the saving rates is very high.

1289
01:02:50,800 --> 01:02:52,960
Speaker 1: It's one of those economies where it's kind of weird.

1290
01:02:53,000 --> 01:02:56,120
Speaker 1: You know, stuff is way too expensive. People do feel

1291
01:02:56,240 --> 01:02:59,800
Speaker 1: dystopian about it, but they're not fully unemployed. So this

1292
01:03:00,080 --> 01:03:02,160
Speaker 1: you know, nuggets there for everybody, and they're looking at

1293
01:03:02,200 --> 01:03:05,000
Speaker 1: it through a very different lens and possibly causing you know,

1294
01:03:05,040 --> 01:03:07,680
Speaker 1: real problems. And also I think what I'm glad he

1295
01:03:07,760 --> 01:03:10,400
Speaker 1: highlighted was the aspect of global contagient. Yes, is that

1296
01:03:10,600 --> 01:03:13,080
Speaker 1: it doesn't necessarily have to start here, It can start elsewhere.

1297
01:03:13,240 --> 01:03:16,520
Speaker 1: Ask everybody in twenty ten, how the Eurozone crisis ended

1298
01:03:16,560 --> 01:03:19,480
Speaker 1: up affecting our markets, or a Chinese recession. You never

1299
01:03:19,560 --> 01:03:20,880
Speaker 1: know how these things are going to work in a

1300
01:03:20,880 --> 01:03:23,840
Speaker 1: globalized world. And we've laid this out before, but just

1301
01:03:23,880 --> 01:03:27,320
Speaker 1: as a reminder, as the FED increases interust rates has

1302
01:03:27,320 --> 01:03:29,760
Speaker 1: the impact of strengthening the dollar, making it much, much,

1303
01:03:29,840 --> 01:03:32,520
Speaker 1: much more expensive for countries around the world that have

1304
01:03:32,640 --> 01:03:35,560
Speaker 1: dollars nominated debt to be able to pay that back.

1305
01:03:35,600 --> 01:03:38,320
Speaker 1: So when he talks about fears of global contagion, that's

1306
01:03:38,360 --> 01:03:40,280
Speaker 1: what we're talking about. We're also talking about the fact

1307
01:03:40,280 --> 01:03:42,880
Speaker 1: that you have multiple central banks around the world all

1308
01:03:42,920 --> 01:03:45,880
Speaker 1: taking similar actions, and you know, the result of that

1309
01:03:46,080 --> 01:03:48,800
Speaker 1: is very hard to predict. I mean, nobody really knows

1310
01:03:48,840 --> 01:03:51,480
Speaker 1: exactly what the impact of that will ultimately be. And

1311
01:03:51,520 --> 01:03:53,760
Speaker 1: he goes on to talk about the fact that, you know,

1312
01:03:53,880 --> 01:03:56,760
Speaker 1: he says, Okay, look at all of these indicators. It's worked.

1313
01:03:56,800 --> 01:03:59,439
Speaker 1: You did your thing. Like the economy is slowing down,

1314
01:03:59,440 --> 01:04:02,640
Speaker 1: the saving savings rates are down, Inflation even in the

1315
01:04:02,720 --> 01:04:06,600
Speaker 1: last indicators seemed to be coming down as well. And meanwhile,

1316
01:04:06,880 --> 01:04:10,320
Speaker 1: you're really putting at risk global contagion and really screwing

1317
01:04:10,400 --> 01:04:14,840
Speaker 1: workers over and having a catastrophic impact on the labor market.

1318
01:04:15,000 --> 01:04:16,800
Speaker 1: So there's a lot to be said there. I mean,

1319
01:04:16,920 --> 01:04:18,920
Speaker 1: I hope that the feed is paying a close attention

1320
01:04:18,960 --> 01:04:21,200
Speaker 1: to the fact that inflation did tick down. I hope

1321
01:04:21,240 --> 01:04:25,000
Speaker 1: they walk back from these extremely aggressive rate hikes that

1322
01:04:25,040 --> 01:04:27,120
Speaker 1: they've been taking, because they really are playing with fire

1323
01:04:27,160 --> 01:04:32,560
Speaker 1: here in terms of all of all of your livelihoods. Yeah,

1324
01:04:32,880 --> 01:04:34,760
Speaker 1: all right, sago, what are you looking at? Well, here's

1325
01:04:34,760 --> 01:04:36,960
Speaker 1: a good question for everyone. What do you do when

1326
01:04:37,000 --> 01:04:40,280
Speaker 1: you're faced with the contradiction. The initial impulse is usually

1327
01:04:40,280 --> 01:04:43,120
Speaker 1: to deflect, But in my limited career here, I've learned

1328
01:04:43,120 --> 01:04:45,040
Speaker 1: that even when it sucks, the best thing to do

1329
01:04:45,400 --> 01:04:47,680
Speaker 1: is just simply admitted, try and explain what led to

1330
01:04:47,760 --> 01:04:49,880
Speaker 1: your decision. But as we all know, with elites in

1331
01:04:49,920 --> 01:04:52,960
Speaker 1: our society today, that is almost never the option that

1332
01:04:53,000 --> 01:04:56,120
Speaker 1: they take. They lash out and attack, or worse, and

1333
01:04:56,160 --> 01:04:58,400
Speaker 1: in a more recent strain of Western commentary, they then

1334
01:04:58,480 --> 01:05:01,680
Speaker 1: attack themselves. This was, of course, the tactic pursued by

1335
01:05:01,680 --> 01:05:04,800
Speaker 1: the fief of President Gianni Infantino at a recent press

1336
01:05:04,800 --> 01:05:07,160
Speaker 1: conference in Qatar, where he was asked to square the

1337
01:05:07,160 --> 01:05:10,200
Speaker 1: World Cup in Qatar with Qatar's treatment of gays in

1338
01:05:10,200 --> 01:05:13,240
Speaker 1: its society. It's horrific abuse of migrant laborers to even

1339
01:05:13,280 --> 01:05:15,080
Speaker 1: pull the event off in the first place, and the

1340
01:05:15,120 --> 01:05:18,200
Speaker 1: whimsical decision through which they just decided to ban alcohol

1341
01:05:18,280 --> 01:05:20,840
Speaker 1: at the last minute in stadiums. Let's take a listen.

1342
01:05:21,840 --> 01:05:26,880
Speaker 1: I'm European, actually, I am European, not just I feel European.

1343
01:05:29,160 --> 01:05:31,240
Speaker 1: I think for what we Europeans have been doing in

1344
01:05:31,280 --> 01:05:34,400
Speaker 1: the last three thousand years around the world, we should

1345
01:05:34,400 --> 01:05:39,280
Speaker 1: be apologizing for next three thousand years before starting to

1346
01:05:39,280 --> 01:05:45,200
Speaker 1: give moral lessons to people. Today, I have very strong feelings.

1347
01:05:45,760 --> 01:05:56,880
Speaker 1: I can tell you that today I feel Katari. Today,

1348
01:05:56,920 --> 01:06:07,920
Speaker 1: I feel arap today, I feel African today, I feel

1349
01:06:08,680 --> 01:06:20,640
Speaker 1: gay today, I feel disabled. Today, I feel a migrant worker.

1350
01:06:22,280 --> 01:06:26,400
Speaker 1: Interesting tactic before adopting the insane and odd. Today I

1351
01:06:26,440 --> 01:06:29,080
Speaker 1: feel x to try and project some sense of inclusion.

1352
01:06:29,360 --> 01:06:32,680
Speaker 1: The FIFA president tries to try what about ism his way,

1353
01:06:33,000 --> 01:06:37,400
Speaker 1: just off straight facts that his organization took untold bribes

1354
01:06:37,640 --> 01:06:42,240
Speaker 1: to overlook Qatar's backward society. It took extraordinary steps to

1355
01:06:42,360 --> 01:06:45,160
Speaker 1: make this event work even when it was clear that

1356
01:06:45,240 --> 01:06:47,640
Speaker 1: it shouldn't be there in the first place, and is

1357
01:06:47,720 --> 01:06:51,600
Speaker 1: covering for the country when it violates an explicit agreement

1358
01:06:51,800 --> 01:06:54,560
Speaker 1: that was made for fans of soccer or of football

1359
01:06:54,800 --> 01:06:57,560
Speaker 1: traveling there from across the world. Let's break it down,

1360
01:06:57,600 --> 01:07:00,439
Speaker 1: shall we, with the most important part. Why the World

1361
01:07:00,440 --> 01:07:03,360
Speaker 1: Cup in Qatar at all? The answer is simple that

1362
01:07:03,480 --> 01:07:06,880
Speaker 1: anyone with a brain can tell you money it's not speculation.

1363
01:07:07,160 --> 01:07:09,120
Speaker 1: Thanks to our Department of Justice, we know for a

1364
01:07:09,160 --> 01:07:12,720
Speaker 1: fact multiple board members of FIFA accepted millions of dollars

1365
01:07:12,760 --> 01:07:15,920
Speaker 1: in bribes drug to award Katar with the World Cup.

1366
01:07:16,120 --> 01:07:18,800
Speaker 1: Two of them can't even deny it because remarkably, we

1367
01:07:18,880 --> 01:07:21,680
Speaker 1: have it on tape if you are really still wondering.

1368
01:07:21,760 --> 01:07:25,320
Speaker 1: On FIFA's own website, they actually literally named the officials

1369
01:07:25,360 --> 01:07:28,920
Speaker 1: who took bribes for awarding Katar over the United States

1370
01:07:28,920 --> 01:07:31,640
Speaker 1: World Cup. So at this point I know that's an

1371
01:07:31,640 --> 01:07:34,920
Speaker 1: old scandal. It does remain important to understand, though, that

1372
01:07:35,040 --> 01:07:38,280
Speaker 1: Qatar never once was awarded the World Cup on any

1373
01:07:38,320 --> 01:07:41,520
Speaker 1: sense of merit. It was money, root and branch that

1374
01:07:41,600 --> 01:07:44,520
Speaker 1: has infused this farce from day one. Ever since the

1375
01:07:44,560 --> 01:07:47,360
Speaker 1: board members delivered on their corrupt bargain, they have been

1376
01:07:47,440 --> 01:07:49,960
Speaker 1: having to work over time to defend it. First, and

1377
01:07:50,000 --> 01:07:53,440
Speaker 1: most obvious, why is the World Cup being held right now.

1378
01:07:53,760 --> 01:07:56,000
Speaker 1: It doesn't take a genius to figure out how hot

1379
01:07:56,040 --> 01:07:58,400
Speaker 1: it gets in the Middle East in the summer. Qatar's

1380
01:07:58,440 --> 01:08:00,840
Speaker 1: initial promise was that they would spend life and I'm

1381
01:08:00,880 --> 01:08:04,360
Speaker 1: not kidding, on mobile flying air conditioners which would somehow

1382
01:08:04,400 --> 01:08:07,200
Speaker 1: totally work in an open air stadium whenever it's one

1383
01:08:07,240 --> 01:08:09,920
Speaker 1: hundred and fifty degrees outside. After just three years, they

1384
01:08:09,960 --> 01:08:12,080
Speaker 1: basically had to admit that wasn't going to happen, and

1385
01:08:12,120 --> 01:08:13,960
Speaker 1: it required them to go on to hundreds of millions

1386
01:08:14,000 --> 01:08:16,960
Speaker 1: of dollars influence and spending spree across Europe to get

1387
01:08:17,040 --> 01:08:20,000
Speaker 1: leagues and teams and officials to agree to move their

1388
01:08:20,040 --> 01:08:23,440
Speaker 1: schedules to the winter just so they could make it tolerable.

1389
01:08:23,840 --> 01:08:26,559
Speaker 1: More So, the Kataris are, in some sense the dog

1390
01:08:26,600 --> 01:08:29,920
Speaker 1: that caught the car. Now what Well, now they actually

1391
01:08:30,000 --> 01:08:32,479
Speaker 1: had to host the thing, and this is where some

1392
01:08:32,560 --> 01:08:35,120
Speaker 1: of the worst of this is materialized. The country to

1393
01:08:35,200 --> 01:08:38,839
Speaker 1: date has spent some two hundred and twenty billion dollars

1394
01:08:39,080 --> 01:08:41,439
Speaker 1: on getting ready for the World Cup, from building a

1395
01:08:41,479 --> 01:08:45,639
Speaker 1: new airport to totally redesigning its entire infrastructure. At one

1396
01:08:45,680 --> 01:08:48,920
Speaker 1: point in twenty seventeen, the country's economic minister admitted they

1397
01:08:48,960 --> 01:08:52,800
Speaker 1: were spending half a billion a week on infrastructure just

1398
01:08:52,880 --> 01:08:55,200
Speaker 1: to get ready for the Cup. And of course who

1399
01:08:55,240 --> 01:08:57,599
Speaker 1: is going to build all of the infrastructure. It ain't

1400
01:08:57,640 --> 01:09:00,240
Speaker 1: the Kataris. I think we all know that it was

1401
01:09:00,280 --> 01:09:04,000
Speaker 1: the pre existing, essentially slave migrant laborers who would. Laborers

1402
01:09:04,000 --> 01:09:07,760
Speaker 1: predominantly from India, Nepal, Pakistan, the Philippines and many other

1403
01:09:07,800 --> 01:09:10,800
Speaker 1: third world countries. They were shipped in effectively confined to

1404
01:09:10,880 --> 01:09:13,840
Speaker 1: labor camps. They had no protections or rights. They worked

1405
01:09:13,880 --> 01:09:16,680
Speaker 1: hours on end in the heat with no recourse. I

1406
01:09:16,720 --> 01:09:19,120
Speaker 1: have seen their treatment firsthand when I live there. It

1407
01:09:19,200 --> 01:09:22,800
Speaker 1: is something shocking to the Western conscience. Men living in

1408
01:09:22,880 --> 01:09:27,120
Speaker 1: Squalor their passports seized, transferring back their meager earnings so

1409
01:09:27,200 --> 01:09:31,559
Speaker 1: their families can eat, in many cases a lifetime facing ailments. Also,

1410
01:09:31,640 --> 01:09:34,760
Speaker 1: these monstrous stadiums can arise in the desert, never to

1411
01:09:34,800 --> 01:09:37,760
Speaker 1: be used again. Nobody really knows how many of them

1412
01:09:37,800 --> 01:09:40,680
Speaker 1: have straight up died building these stadiums. The minimum is

1413
01:09:40,720 --> 01:09:43,720
Speaker 1: sixty five hundred, but it could be tens of thousands more.

1414
01:09:44,360 --> 01:09:46,479
Speaker 1: That cut off, though, it was in twenty twenty before

1415
01:09:46,520 --> 01:09:49,439
Speaker 1: another sprint of building was even happening in Qatar. Qatar

1416
01:09:49,560 --> 01:09:51,960
Speaker 1: has the gall to try and alay that criticism by

1417
01:09:51,960 --> 01:09:54,759
Speaker 1: erecting pictures of migrant laborers in some sort of monument

1418
01:09:54,840 --> 01:09:56,800
Speaker 1: on the side of their stadiums, as if that is

1419
01:09:56,800 --> 01:09:59,280
Speaker 1: not just a glaring reminder that they actually don't do

1420
01:09:59,360 --> 01:10:02,479
Speaker 1: anything them and those that do help them are treated

1421
01:10:02,520 --> 01:10:05,360
Speaker 1: as third class citizens in their own country. And then,

1422
01:10:05,439 --> 01:10:09,479
Speaker 1: finally is the illustration of hypocrisy. Having lived in Qatar again,

1423
01:10:09,760 --> 01:10:12,920
Speaker 1: let me tell you something. Any high rolling concierge in

1424
01:10:13,000 --> 01:10:16,439
Speaker 1: Las Vegas knows. Some of the hardest parting degenerates in

1425
01:10:16,479 --> 01:10:19,120
Speaker 1: the world are the princes of the Gulf Arab States.

1426
01:10:19,360 --> 01:10:22,280
Speaker 1: And yet, when nearly one million fans are on their

1427
01:10:22,320 --> 01:10:24,960
Speaker 1: way to the World Cup, Qatar at the last minute

1428
01:10:25,120 --> 01:10:28,519
Speaker 1: decided to reneg on its promise alcohol would be available

1429
01:10:28,520 --> 01:10:32,160
Speaker 1: for fans in stadiums. You could say, oh, well, fair enough,

1430
01:10:32,200 --> 01:10:35,160
Speaker 1: I guess except for this little detail. You can still

1431
01:10:35,160 --> 01:10:37,479
Speaker 1: get alcohol in the stadium. You just have to be

1432
01:10:37,560 --> 01:10:40,479
Speaker 1: able to afford a ticket in the luxury suite that

1433
01:10:40,640 --> 01:10:44,080
Speaker 1: costs at a minimum twenty thousand dollars. Now, let me

1434
01:10:44,160 --> 01:10:47,160
Speaker 1: ask you where in the stadium will the little Katari

1435
01:10:47,200 --> 01:10:49,839
Speaker 1: princelings be? Where are they going to be watching and sitting.

1436
01:10:50,120 --> 01:10:51,960
Speaker 1: You can bet they're going to be sipping on dom

1437
01:10:52,000 --> 01:10:55,519
Speaker 1: Perion Champagne, while normal fans who came in from around

1438
01:10:55,560 --> 01:10:58,720
Speaker 1: the world are subject now to Islamic theocratic rules they

1439
01:10:58,720 --> 01:11:01,479
Speaker 1: don't believe in, while they're being violated by the very

1440
01:11:01,520 --> 01:11:05,320
Speaker 1: people who set the rules in that country. From day one,

1441
01:11:05,400 --> 01:11:07,760
Speaker 1: this has been a farce. On a personal level, it

1442
01:11:07,840 --> 01:11:10,479
Speaker 1: is somewhat cathartic. The first time I ever understood what

1443
01:11:10,520 --> 01:11:12,880
Speaker 1: it's like to live without freedom of speech is Qatar.

1444
01:11:13,240 --> 01:11:15,600
Speaker 1: My last two years of high school. I saw injustice

1445
01:11:15,600 --> 01:11:17,760
Speaker 1: around me, in the treatment of these migrant workers, and

1446
01:11:17,800 --> 01:11:20,280
Speaker 1: in the sheer arrogance through which the Katari royal family

1447
01:11:20,439 --> 01:11:23,679
Speaker 1: conducts itself and comports itself, and I could say nothing

1448
01:11:23,880 --> 01:11:25,879
Speaker 1: because they would literally throw me out of the country.

1449
01:11:26,120 --> 01:11:29,519
Speaker 1: To date, they have relied on people who have seen it,

1450
01:11:29,520 --> 01:11:32,599
Speaker 1: been there and seen their barbarism up close, to keep

1451
01:11:32,640 --> 01:11:35,479
Speaker 1: their mouths shut because they can just buy people off.

1452
01:11:35,800 --> 01:11:37,920
Speaker 1: Lucky for me, I don't care if I ever set

1453
01:11:37,920 --> 01:11:40,240
Speaker 1: foot there again, and the people who pay my salary

1454
01:11:40,320 --> 01:11:42,640
Speaker 1: are those who stand against everything that they do. So

1455
01:11:42,760 --> 01:11:45,799
Speaker 1: let the games begin, I guess. I hope Team USA

1456
01:11:45,880 --> 01:11:48,120
Speaker 1: isn't as big of a disappointment as they normally are.

1457
01:11:48,280 --> 01:11:51,040
Speaker 1: But when you see the ground they play on, try

1458
01:11:51,040 --> 01:11:55,200
Speaker 1: to remember it is infused with blood, corruption, and maybe

1459
01:11:55,520 --> 01:11:58,720
Speaker 1: maybe let's just never let this happen again. And look, Chris,

1460
01:11:58,720 --> 01:12:01,320
Speaker 1: so I've seen some criticis yeah, I use it. I know,

1461
01:12:01,320 --> 01:12:03,360
Speaker 1: I use poign language, and I use it for people

1462
01:12:03,360 --> 01:12:05,240
Speaker 1: are like, oh, you didn't say that. And if you

1463
01:12:05,280 --> 01:12:08,080
Speaker 1: want to hear my reaction to Sagres's monologue, become a

1464
01:12:08,120 --> 01:12:14,120
Speaker 1: premium subscriber today at breakingpoints dot com. Gristle, what are

1465
01:12:14,120 --> 01:12:16,080
Speaker 1: you taking a look at? Well, guys, In a matter

1466
01:12:16,160 --> 01:12:20,000
Speaker 1: of weeks, we have raced through the most stunning unmasking

1467
01:12:20,080 --> 01:12:23,040
Speaker 1: of the billionaire class that perhaps the world has ever witnessed.

1468
01:12:23,240 --> 01:12:25,519
Speaker 1: Elizabeth Holmes, the con woman at the center of the

1469
01:12:25,560 --> 01:12:28,080
Speaker 1: fair Noose heist which fulle scores of elites and earned

1470
01:12:28,080 --> 01:12:31,680
Speaker 1: her girl boss billionaire Acclaim sentenced to eleven years in

1471
01:12:31,720 --> 01:12:35,920
Speaker 1: prison for defrauding her fancy very serious investors. Elon Musk,

1472
01:12:36,120 --> 01:12:38,519
Speaker 1: richest man on the planet, and exposed super genius, bringing

1473
01:12:38,520 --> 01:12:41,000
Speaker 1: Twitter to the brink of collapse through hubris and chaos

1474
01:12:41,040 --> 01:12:44,120
Speaker 1: in a matter of mere weeks, and Sam bankmin freed,

1475
01:12:44,479 --> 01:12:47,880
Speaker 1: the golden boy of cryptos supposedly and darling of the

1476
01:12:47,920 --> 01:12:51,280
Speaker 1: media and elite class revealed to be an outright fraudster.

1477
01:12:51,800 --> 01:12:56,000
Speaker 1: Bernie made off in millennial tech bro casual attire. What's more,

1478
01:12:56,200 --> 01:12:59,439
Speaker 1: the unmasking of these billionaires has effectively served to unmask

1479
01:12:59,560 --> 01:13:03,240
Speaker 1: the in higher elite class, the journalists, especially in the

1480
01:13:03,280 --> 01:13:08,200
Speaker 1: business press, who uncritically accepted these billionaires as as innovators,

1481
01:13:08,240 --> 01:13:11,480
Speaker 1: as prophets, who vouched for them to the masses, affirming

1482
01:13:11,560 --> 01:13:13,880
Speaker 1: that they're slot at the top of the meritocracy was

1483
01:13:13,960 --> 01:13:16,840
Speaker 1: more than earned. The investors and the bankers who were

1484
01:13:16,880 --> 01:13:19,920
Speaker 1: tricked by the Holbrews, who lent them money, invested in

1485
01:13:19,960 --> 01:13:23,439
Speaker 1: their scams, allowed their supposed expertise and credentialing to serve

1486
01:13:23,720 --> 01:13:27,160
Speaker 1: as a marker of seriousness and of legitimacy. We were

1487
01:13:27,200 --> 01:13:31,000
Speaker 1: told that we were actually lucky that these geniuses had

1488
01:13:31,080 --> 01:13:34,759
Speaker 1: decided to devote their lives to world changing good instead

1489
01:13:34,760 --> 01:13:37,320
Speaker 1: of just living thoughtlessly in the lap of luxury that

1490
01:13:37,360 --> 01:13:40,559
Speaker 1: they certainly deserve. But it's not enough to see the

1491
01:13:40,600 --> 01:13:43,360
Speaker 1: fakery and to see the distance between the legend and

1492
01:13:43,400 --> 01:13:46,519
Speaker 1: the reality of who these people actually are. It's really

1493
01:13:46,640 --> 01:13:50,880
Speaker 1: essential that we understand their myths and their ideology, because

1494
01:13:50,880 --> 01:13:53,759
Speaker 1: they are actually just the logical endpoint of the myths

1495
01:13:53,800 --> 01:13:57,760
Speaker 1: and the ideology that our entire society tells We crafted

1496
01:13:57,800 --> 01:13:59,960
Speaker 1: and molded and shaped these people into what they are.

1497
01:14:00,240 --> 01:14:03,599
Speaker 1: And it's also essential we understand that that ideology which

1498
01:14:03,600 --> 01:14:06,639
Speaker 1: permeates our society and is brought to its radical conclusion

1499
01:14:06,720 --> 01:14:09,360
Speaker 1: by people like Sam Begmann Freed and people like Elon Musk,

1500
01:14:09,680 --> 01:14:12,440
Speaker 1: that it is in fact an existential threat to democracy,

1501
01:14:12,600 --> 01:14:16,120
Speaker 1: to freedom, and to self governance. Let me explain here,

1502
01:14:16,160 --> 01:14:18,720
Speaker 1: because fortunately for us, SBF, Musk and others have made

1503
01:14:18,760 --> 01:14:22,000
Speaker 1: it extremely easy to understand what that ideology is because

1504
01:14:22,000 --> 01:14:24,920
Speaker 1: they've laid it out in disturbing, excruciating detail through their

1505
01:14:24,960 --> 01:14:28,800
Speaker 1: cult like philosophy called effective Altruism. Now, this philosophy was

1506
01:14:28,800 --> 01:14:32,160
Speaker 1: funded in large part by SBF himself and has quite

1507
01:14:32,160 --> 01:14:34,759
Speaker 1: a significant following among the lords and would be lords

1508
01:14:34,760 --> 01:14:38,439
Speaker 1: of Silicon Valley. Musk has said effective Altruism closely matches

1509
01:14:38,479 --> 01:14:41,919
Speaker 1: his own philosophy. He's reportedly working with the philanthropic Advisor,

1510
01:14:41,960 --> 01:14:45,080
Speaker 1: who was tied into the community and frequently expouses views

1511
01:14:45,080 --> 01:14:47,080
Speaker 1: which sound a whole lot like the core tenants of

1512
01:14:47,120 --> 01:14:50,519
Speaker 1: the movement. Facebook co founder Duskin Moskovitz he is an

1513
01:14:50,520 --> 01:14:53,120
Speaker 1: adherent as well, and the money backing the movement is

1514
01:14:53,160 --> 01:14:56,040
Speaker 1: now into the tens, possibly hundreds of billions of dollars,

1515
01:14:56,280 --> 01:14:59,760
Speaker 1: reflecting its popularity among a subset of the very, very,

1516
01:15:00,160 --> 01:15:04,960
Speaker 1: very wealthy. So what is effective altruism? It all sounds

1517
01:15:04,960 --> 01:15:07,240
Speaker 1: sort of benign to start with. The basic concept is

1518
01:15:07,320 --> 01:15:09,360
Speaker 1: you should devote your life to doing the greatest good

1519
01:15:09,360 --> 01:15:11,559
Speaker 1: for the greatest number of people, and that this end

1520
01:15:12,000 --> 01:15:15,800
Speaker 1: justifies many means. In the implementation of philosophy, though, you

1521
01:15:15,800 --> 01:15:19,200
Speaker 1: can see how it gets real bad, real fast. They believe,

1522
01:15:19,240 --> 01:15:22,000
Speaker 1: for example, that it is not only okay, but actually

1523
01:15:22,040 --> 01:15:24,760
Speaker 1: the most noble use of your life to try to

1524
01:15:24,840 --> 01:15:27,920
Speaker 1: amass as large a fortune as possible in order to

1525
01:15:27,960 --> 01:15:31,000
Speaker 1: give to charitable causes. Now, this is obviously very convenient

1526
01:15:31,040 --> 01:15:33,559
Speaker 1: for the billionaire and aspiring billionaire class. Not only is

1527
01:15:33,560 --> 01:15:36,760
Speaker 1: it okay that they have incomprehensible levels of wealth while

1528
01:15:36,760 --> 01:15:40,000
Speaker 1: people around the world struggle and starve. It's actually good,

1529
01:15:40,240 --> 01:15:44,120
Speaker 1: it's actually noble, and since the ends justifies the means,

1530
01:15:44,479 --> 01:15:47,639
Speaker 1: the mandate to seek wealth could lead to justifying, for example,

1531
01:15:48,040 --> 01:15:51,000
Speaker 1: stealing billions and customer funds out of FTX brokerage accounts

1532
01:15:51,040 --> 01:15:53,880
Speaker 1: to add to your own personal bank account. After all,

1533
01:15:54,240 --> 01:15:57,800
Speaker 1: Sam Bankman, Freed, as one of the world's leading effective altruisms,

1534
01:15:57,800 --> 01:16:00,400
Speaker 1: would know better than those peasants how to use funds

1535
01:16:00,400 --> 01:16:03,840
Speaker 1: in the best long term interest of humanity. So a

1536
01:16:03,880 --> 01:16:06,760
Speaker 1: few billion dollars of THEFT now is nothing in the

1537
01:16:06,800 --> 01:16:11,840
Speaker 1: grand scheme of humanity. Now, particularly odd subset of effective altruism,

1538
01:16:11,840 --> 01:16:15,400
Speaker 1: including SBF follow a belief in something called long termism.

1539
01:16:15,640 --> 01:16:18,800
Speaker 1: Now again sounds kind of benign. The concept is that

1540
01:16:18,840 --> 01:16:21,840
Speaker 1: after amassing your grand fortune, you should deploy it to

1541
01:16:21,880 --> 01:16:25,040
Speaker 1: do the greatest good, not in the present, but when

1542
01:16:25,120 --> 01:16:29,280
Speaker 1: mapped out over a million years. Now this also gets

1543
01:16:29,320 --> 01:16:33,200
Speaker 1: real bad, real fast. In actual practice, that calculus means

1544
01:16:33,200 --> 01:16:36,799
Speaker 1: that adherence focus on efforts like reducing by a tiny

1545
01:16:36,880 --> 01:16:42,520
Speaker 1: fraction the theoretical possible fate of AI artificial intelligence destroying

1546
01:16:42,560 --> 01:16:47,280
Speaker 1: all of humanity, instead of, for example, maybe alleviating famine

1547
01:16:47,400 --> 01:16:49,559
Speaker 1: or dealing with war or even climate change in the

1548
01:16:49,600 --> 01:16:54,120
Speaker 1: present day. So it not only justifies but congratulates today's

1549
01:16:54,200 --> 01:16:58,680
Speaker 1: billionaire philosopher kings for ignoring present day misery to keep

1550
01:16:58,680 --> 01:17:02,840
Speaker 1: their eyes on the prize of potential possible future societal

1551
01:17:02,920 --> 01:17:06,240
Speaker 1: collapse a million years in the future, and it bestows

1552
01:17:06,320 --> 01:17:10,720
Speaker 1: upon this group a profit likability to foresee what the

1553
01:17:10,840 --> 01:17:15,080
Speaker 1: risk to humanity might be over that absurdly long timeframe.

1554
01:17:15,720 --> 01:17:19,000
Speaker 1: Lo and behold, a bunch of tech bros with world

1555
01:17:19,120 --> 01:17:22,760
Speaker 1: historic egos and narcissism decided the most important threat to

1556
01:17:22,800 --> 01:17:26,960
Speaker 1: humanity happened to be in their sphere of expertise AI

1557
01:17:27,280 --> 01:17:31,960
Speaker 1: artificial intelligence, thereby once again putting themselves right at the

1558
01:17:32,000 --> 01:17:35,040
Speaker 1: center of the universe. You can hear echoes of this

1559
01:17:35,040 --> 01:17:37,800
Speaker 1: philosophy and must Twitter takeover and his casual approach to

1560
01:17:37,840 --> 01:17:41,160
Speaker 1: the chaos and destruction there As Fast Company noted, Musk's

1561
01:17:41,160 --> 01:17:44,280
Speaker 1: tweeted rationale for buying Twitter was quote because it is

1562
01:17:44,320 --> 01:17:47,599
Speaker 1: important to the future of civilization to have a common

1563
01:17:47,640 --> 01:17:51,080
Speaker 1: digital town square. I did it to try and help humanity,

1564
01:17:51,240 --> 01:17:53,920
Speaker 1: whom I love. They go on to speculate that it

1565
01:17:53,960 --> 01:17:56,320
Speaker 1: may have been long termism which would lead Must to

1566
01:17:56,400 --> 01:17:59,120
Speaker 1: be able to casually fire thousands of people without guilt.

1567
01:17:59,479 --> 01:18:02,400
Speaker 1: After all, their present pain is nothing when compared to

1568
01:18:02,479 --> 01:18:06,479
Speaker 1: the grand sweep of a million years of possible human

1569
01:18:07,160 --> 01:18:10,960
Speaker 1: future potential. More than a decade ago, Stanford's Social Innovation

1570
01:18:11,040 --> 01:18:13,559
Speaker 1: Review set of effective altruism that it was an quote

1571
01:18:13,600 --> 01:18:18,320
Speaker 1: elitist philosophy which amounted to little more than charitable imperialism,

1572
01:18:18,479 --> 01:18:22,320
Speaker 1: whereby my cause is just and yours is, to one

1573
01:18:22,360 --> 01:18:27,120
Speaker 1: degree or another, a waste of precious resources. Now, all

1574
01:18:27,200 --> 01:18:29,759
Speaker 1: of this sounds kind of esoteric, sounds a little fringe,

1575
01:18:29,840 --> 01:18:34,040
Speaker 1: sounds pretty radical, sounds pretty awful, But in fact it's

1576
01:18:34,080 --> 01:18:37,479
Speaker 1: really pretty American. Since American as apple pie, the latest

1577
01:18:37,520 --> 01:18:40,000
Speaker 1: spin on of you so commonplace as to be baked

1578
01:18:40,000 --> 01:18:42,800
Speaker 1: into our social fabric, a new story for us to

1579
01:18:42,840 --> 01:18:46,560
Speaker 1: tell about why evil acts are actually good, why servitude

1580
01:18:46,560 --> 01:18:48,479
Speaker 1: from the masses at the hands of a great leader

1581
01:18:48,600 --> 01:18:52,960
Speaker 1: is actually just, and very very conveniently, why billionaires should

1582
01:18:52,960 --> 01:18:55,759
Speaker 1: not really be taxed at all. After all, our national

1583
01:18:55,840 --> 01:18:58,160
Speaker 1: mythology for forty years now has told us we live

1584
01:18:58,160 --> 01:19:00,720
Speaker 1: in a meritocracy. We're the best, in, the most innovative.

1585
01:19:01,000 --> 01:19:03,840
Speaker 1: They rise to the top, and they deserve the rich

1586
01:19:03,880 --> 01:19:07,240
Speaker 1: rewards that they earn because they are in fact superior

1587
01:19:07,400 --> 01:19:10,280
Speaker 1: to the masses. And if there's truth to that mythology

1588
01:19:10,439 --> 01:19:14,800
Speaker 1: that our overclass deserves their riches, deserves their esteem, then

1589
01:19:14,840 --> 01:19:17,240
Speaker 1: it follows logically that we should defer to them on

1590
01:19:17,280 --> 01:19:20,040
Speaker 1: all human affairs. Really, which problems we should tackle, what

1591
01:19:20,160 --> 01:19:23,000
Speaker 1: resources should be devoted to them, which causes and people

1592
01:19:23,040 --> 01:19:25,439
Speaker 1: are worthy of time and attention, Which people are just

1593
01:19:25,560 --> 01:19:28,960
Speaker 1: grists for the mill of their gloriousness. This is, after all,

1594
01:19:29,320 --> 01:19:32,639
Speaker 1: basically how we run our political system today. Sure, everybody

1595
01:19:32,640 --> 01:19:34,960
Speaker 1: gets a vote, but the real influence comes from the

1596
01:19:34,960 --> 01:19:37,439
Speaker 1: people who are able to buy access and lobbyists and

1597
01:19:37,520 --> 01:19:40,479
Speaker 1: follow millions to political candidates and buy media coverage for

1598
01:19:40,520 --> 01:19:44,080
Speaker 1: their pet causes. The only way we allow this system

1599
01:19:44,120 --> 01:19:46,880
Speaker 1: to persist is because, at bottom, our society is built

1600
01:19:46,880 --> 01:19:49,040
Speaker 1: on a live that these people are actually better, that

1601
01:19:49,120 --> 01:19:51,479
Speaker 1: they are actually smarter, that they do actually know what's

1602
01:19:51,520 --> 01:19:54,479
Speaker 1: better for our interests than the common folk. If Bill

1603
01:19:54,479 --> 01:19:57,479
Speaker 1: Gates says Big Pharma gets to keep their vaccine patents, well,

1604
01:19:57,520 --> 01:19:59,880
Speaker 1: then who are we to doubt him? Ultimately? If sa

1605
01:20:00,040 --> 01:20:02,240
Speaker 1: M Bankman Freed wants to pick winners and losers in

1606
01:20:02,280 --> 01:20:05,960
Speaker 1: Democratic Party primaries while he can. If Elon Musk wants

1607
01:20:05,960 --> 01:20:08,880
Speaker 1: to haphazardly kureem the digital public square off a cliff,

1608
01:20:08,880 --> 01:20:10,960
Speaker 1: well or are we to stop him? And if Jeff

1609
01:20:10,960 --> 01:20:14,439
Speaker 1: Bezos wants to literally buy the Washington Post. Why would

1610
01:20:14,479 --> 01:20:17,760
Speaker 1: we ever tell him no? Effective altruism is one more

1611
01:20:17,840 --> 01:20:20,720
Speaker 1: way of justifying why we should put our faith in

1612
01:20:20,760 --> 01:20:24,840
Speaker 1: the whims and the calculations of billionaires rather than lean

1613
01:20:24,880 --> 01:20:29,920
Speaker 1: into democracy. Heavily tax their wealth and allows citizens collectively

1614
01:20:30,240 --> 01:20:33,400
Speaker 1: to determine the greatest needs and interests of our society.

1615
01:20:33,760 --> 01:20:37,599
Speaker 1: It's a movement that justifies extreme wealth, confirms billionaire's self

1616
01:20:37,640 --> 01:20:40,960
Speaker 1: perception as special basterds of the universe, and provides a

1617
01:20:41,000 --> 01:20:44,880
Speaker 1: pseudo moral justification for ignoring many harms and atrocities of

1618
01:20:44,880 --> 01:20:47,280
Speaker 1: the day, from famine to war to the climate crisis.

1619
01:20:47,520 --> 01:20:50,479
Speaker 1: It apparently can also be used to justify mass fraud

1620
01:20:50,520 --> 01:20:52,479
Speaker 1: to the two of millions of dollars. And if that

1621
01:20:52,520 --> 01:20:57,240
Speaker 1: sounds familiar, it's because these elitist authoritarian impulses have literally

1622
01:20:57,280 --> 01:20:59,760
Speaker 1: been with us since the founding of the republic, but

1623
01:21:00,120 --> 01:21:02,840
Speaker 1: seldom have we had such a front row seat to

1624
01:21:03,120 --> 01:21:06,040
Speaker 1: just how catastrophic it is when those forces win and

1625
01:21:06,080 --> 01:21:09,280
Speaker 1: the billionaires really get their way. Take a good hard

1626
01:21:09,320 --> 01:21:12,759
Speaker 1: look right now, because these emperors who we were told

1627
01:21:12,960 --> 01:21:16,920
Speaker 1: to put blind faith in have no clothes. Really has

1628
01:21:16,920 --> 01:21:19,400
Speaker 1: been a pre stunning stretch, not a good little period

1629
01:21:19,400 --> 01:21:21,640
Speaker 1: here for billionaires and if you want to hear my

1630
01:21:21,800 --> 01:21:25,160
Speaker 1: reaction to Crystal's monologue, become a premium subscriber today at

1631
01:21:25,200 --> 01:21:30,720
Speaker 1: breakingpoints dot com. Joining us now is Teddy Schliper. He

1632
01:21:30,880 --> 01:21:32,920
Speaker 1: is a reporter over at PUCK News and has been

1633
01:21:32,960 --> 01:21:35,280
Speaker 1: doing some excellent work on big tech. Let's go and

1634
01:21:35,320 --> 01:21:37,519
Speaker 1: put this up there on the screen. Teddy wrote this

1635
01:21:37,560 --> 01:21:41,080
Speaker 1: fantastic piece called inside the SBF Blast Radius, which is

1636
01:21:41,120 --> 01:21:43,360
Speaker 1: really like the fallout from all of the millions of

1637
01:21:43,360 --> 01:21:46,240
Speaker 1: dollars at SBF, Sam Bankman Freed was kind of pumping

1638
01:21:46,240 --> 01:21:49,840
Speaker 1: into the lobbying ecosystem, nonprofits and much more. He tracks

1639
01:21:49,840 --> 01:21:52,360
Speaker 1: billionaires and how they can try to control our political

1640
01:21:52,400 --> 01:21:54,080
Speaker 1: system over at PUCK and we're excited to have him

1641
01:21:54,080 --> 01:21:56,240
Speaker 1: on the show. So Teddy, thanks for joining us. Welcome Teddy.

1642
01:21:56,960 --> 01:21:59,240
Speaker 1: Thanks guys, So give us a little bit of a

1643
01:21:59,280 --> 01:22:02,680
Speaker 1: rundown SBF. There's been a lot of discussion, I think,

1644
01:22:02,720 --> 01:22:07,000
Speaker 1: online about his attempts to influence the political realm. Give

1645
01:22:07,040 --> 01:22:09,200
Speaker 1: us the actual details and fill in the color for

1646
01:22:09,240 --> 01:22:12,960
Speaker 1: the audience who might be familiar with that. Sure, So

1647
01:22:13,960 --> 01:22:16,360
Speaker 1: the big question I guess to set the context here

1648
01:22:16,400 --> 01:22:19,240
Speaker 1: is how much he has spent The honest answer is,

1649
01:22:19,320 --> 01:22:21,599
Speaker 1: we don't know how much he's spent on politics, but

1650
01:22:21,840 --> 01:22:25,240
Speaker 1: the guestimate I'll say is about one hundred million dollars.

1651
01:22:25,800 --> 01:22:27,800
Speaker 1: That includes money that Sam has spent on his own

1652
01:22:27,840 --> 01:22:30,960
Speaker 1: superPAC that he started last year, which is forty million bucks.

1653
01:22:31,360 --> 01:22:34,040
Speaker 1: He spent twenty million dollars on this lobbying group, at

1654
01:22:34,120 --> 01:22:36,960
Speaker 1: least twenty million dollars in this lobbying group to kind

1655
01:22:36,960 --> 01:22:40,400
Speaker 1: of battle pandemics. He wanted to set up a pandemic

1656
01:22:40,520 --> 01:22:43,920
Speaker 1: kind of agency within in the state of California, and

1657
01:22:43,960 --> 01:22:46,160
Speaker 1: also in Congress, they're trying to push for more money

1658
01:22:46,320 --> 01:22:49,000
Speaker 1: for pandemic funding. This doesn't include the money he's spent

1659
01:22:49,080 --> 01:22:53,160
Speaker 1: on media right on funding newsrooms, which is kind of

1660
01:22:53,160 --> 01:22:56,360
Speaker 1: weird and certainly and u usual. So we're looking at

1661
01:22:56,439 --> 01:22:59,000
Speaker 1: you know, this is a guy who a was doing

1662
01:22:59,040 --> 01:23:00,880
Speaker 1: a lot in Washington and very short amount of time.

1663
01:23:00,880 --> 01:23:03,200
Speaker 1: I mean, you guys know this doesn't happen every day

1664
01:23:03,200 --> 01:23:05,719
Speaker 1: that someone shows up and starts throwing tens of millions

1665
01:23:05,720 --> 01:23:07,840
Speaker 1: of dollars round. And also he was talking like he

1666
01:23:07,880 --> 01:23:10,519
Speaker 1: was gonna be doing this for decades, right. I know

1667
01:23:10,640 --> 01:23:13,800
Speaker 1: some of his age who have described a fifty year

1668
01:23:13,920 --> 01:23:19,240
Speaker 1: campaign for kind of influence and access and agenda setting.

1669
01:23:19,960 --> 01:23:21,400
Speaker 1: So this guy was going to be around for a while.

1670
01:23:21,400 --> 01:23:25,240
Speaker 1: Obviously now he's not, but I the two bigs heus

1671
01:23:25,320 --> 01:23:28,640
Speaker 1: around for fifty years interesting And how more specifically was

1672
01:23:28,680 --> 01:23:32,919
Speaker 1: he deploying his funding. I mean I followed pretty closely

1673
01:23:33,000 --> 01:23:37,320
Speaker 1: how he was playing in some Democratic Party primaries in particular,

1674
01:23:37,400 --> 01:23:42,280
Speaker 1: So give us some specifics there. Sure, So his super pack,

1675
01:23:42,320 --> 01:23:45,640
Speaker 1: which been forty million dollars basically all during the primaries,

1676
01:23:47,080 --> 01:23:49,920
Speaker 1: was backing candidates that he said were you know, pro

1677
01:23:49,960 --> 01:23:53,679
Speaker 1: pandemic prevention. There was some overlap with kind of candidates

1678
01:23:53,720 --> 01:23:57,280
Speaker 1: who could be considered pro crypto, but you know, you

1679
01:23:57,360 --> 01:24:00,000
Speaker 1: take him out his word. He was looking at Democratic

1680
01:24:00,040 --> 01:24:03,280
Speaker 1: primary is where a candidate was more pro potential and

1681
01:24:03,320 --> 01:24:06,720
Speaker 1: predentially than another. Probably the biggest example of this was

1682
01:24:06,800 --> 01:24:09,360
Speaker 1: the fifteen million dollars we spent or so in this

1683
01:24:09,560 --> 01:24:13,040
Speaker 1: random race in Oregon Democratic primary with this guy named

1684
01:24:13,080 --> 01:24:16,080
Speaker 1: Carrick Flynn who got creamed by you know, fifteen to

1685
01:24:16,080 --> 01:24:19,080
Speaker 1: twenty points. And that was the situation where we had,

1686
01:24:19,160 --> 01:24:22,160
Speaker 1: you know, the same money really backfired. You could argue,

1687
01:24:22,200 --> 01:24:24,600
Speaker 1: I mean, this guy Krrick Flynn was running in his

1688
01:24:24,640 --> 01:24:27,120
Speaker 1: district outside of Oregon. Like the number one thing that

1689
01:24:27,200 --> 01:24:29,599
Speaker 1: voters probably knew about him was that he was tied

1690
01:24:29,640 --> 01:24:35,680
Speaker 1: to this you know, sketchy Bahamas crypto guy. So you know,

1691
01:24:35,800 --> 01:24:37,760
Speaker 1: forty nine dollars a lot to spend in primaries. And

1692
01:24:38,160 --> 01:24:39,680
Speaker 1: then there was all the money's spending on kind of

1693
01:24:39,720 --> 01:24:43,280
Speaker 1: traditional lobbying, right having you know, tons of people and

1694
01:24:43,360 --> 01:24:46,160
Speaker 1: retainer doing the whole access pedaling that's just kind of

1695
01:24:46,600 --> 01:24:49,680
Speaker 1: blocking and tackling in Washington. So there was a lot

1696
01:24:49,720 --> 01:24:52,120
Speaker 1: in elections, and there was a lot on lobbying too. Yeah,

1697
01:24:52,200 --> 01:24:54,760
Speaker 1: I think, yeah, that's so interesting. I mean, look, really,

1698
01:24:54,920 --> 01:24:56,479
Speaker 1: what it comes down to, and what a lot of

1699
01:24:56,520 --> 01:24:58,800
Speaker 1: people have heard about, is this attempt to try and

1700
01:24:58,960 --> 01:25:02,040
Speaker 1: influence the SA To what extent do you think that

1701
01:25:02,160 --> 01:25:05,839
Speaker 1: that is true? By my estimation, he wasn't just necessarily,

1702
01:25:05,880 --> 01:25:08,480
Speaker 1: as you said, even deploying his cash all that effectively.

1703
01:25:08,600 --> 01:25:11,240
Speaker 1: But we can't deny like he had high level meetings

1704
01:25:11,280 --> 01:25:14,519
Speaker 1: with major senior Democratic Party officials, has had meetings and

1705
01:25:14,600 --> 01:25:18,479
Speaker 1: his company in the past with regulators. What regulatory aim

1706
01:25:18,560 --> 01:25:20,519
Speaker 1: did he really have in mind to the extent that

1707
01:25:20,560 --> 01:25:22,720
Speaker 1: you can talk about it, Yeah, I mean, look, the

1708
01:25:22,960 --> 01:25:26,680
Speaker 1: the there's kind of two tracks here, Right, there's all

1709
01:25:26,720 --> 01:25:30,160
Speaker 1: the stuff he's doing politically and philanthropically, which Sam and

1710
01:25:30,240 --> 01:25:33,360
Speaker 1: his aides you know, say is totally independent from the

1711
01:25:33,360 --> 01:25:35,559
Speaker 1: crypto stuff, and in fact, they kind of bristle up

1712
01:25:35,560 --> 01:25:37,840
Speaker 1: the idea that this is like some like smoke screen

1713
01:25:37,880 --> 01:25:41,360
Speaker 1: for crypt regulation. But indisputably, at the same time Sam

1714
01:25:41,479 --> 01:25:43,960
Speaker 1: was doing that, there was this other track, which was

1715
01:25:44,040 --> 01:25:48,439
Speaker 1: trying to get you know, the SEC to not regulate

1716
01:25:48,520 --> 01:25:52,000
Speaker 1: crypto and to have it primarily be regulated by the CFTC,

1717
01:25:53,520 --> 01:25:55,439
Speaker 1: and Sam was at the forefront of that as well.

1718
01:25:55,920 --> 01:25:57,600
Speaker 1: And like it's kind of it's kind of hard to

1719
01:25:58,200 --> 01:26:00,479
Speaker 1: know like where one of those missions end and where

1720
01:26:00,560 --> 01:26:03,360
Speaker 1: the other begins because in just normal like day to

1721
01:26:03,439 --> 01:26:05,560
Speaker 1: day human interaction, right, if you have a relationship with

1722
01:26:06,080 --> 01:26:09,080
Speaker 1: someone in Congress from one of those tracks, right, and

1723
01:26:09,200 --> 01:26:11,759
Speaker 1: then it's not like, oh, but you know it doesn't

1724
01:26:11,880 --> 01:26:14,240
Speaker 1: you know, have secondary benefits on the other track, Right.

1725
01:26:14,280 --> 01:26:17,439
Speaker 1: So there are people, for instance, that Sam donated to

1726
01:26:18,560 --> 01:26:21,679
Speaker 1: under the pretenses of pandemic prevention who just so happened

1727
01:26:21,680 --> 01:26:24,080
Speaker 1: to also be you know, people who would vote on

1728
01:26:24,160 --> 01:26:27,840
Speaker 1: a cryptoregulation bill, right, So like it's hard to disentangle

1729
01:26:27,960 --> 01:26:30,640
Speaker 1: the two. Clearly, I can tell you that a lot

1730
01:26:30,680 --> 01:26:34,960
Speaker 1: of people in Washington knew Sam Banko freed was very quickly. Yep.

1731
01:26:35,280 --> 01:26:38,160
Speaker 1: And so what has the reaction been among those folks

1732
01:26:38,200 --> 01:26:41,040
Speaker 1: who were taking the meetings, taking the cash, you know,

1733
01:26:41,200 --> 01:26:43,000
Speaker 1: putting him in front of committees. Do you hear what

1734
01:26:43,080 --> 01:26:46,000
Speaker 1: he had to say about crypto regulation? What has their

1735
01:26:46,040 --> 01:26:49,280
Speaker 1: reaction been now that the mask has been ripped off? Yeah,

1736
01:26:49,320 --> 01:26:50,560
Speaker 1: I mean you kind of said, well, I mean I

1737
01:26:50,640 --> 01:26:52,439
Speaker 1: wasn't asking you what what you guys would guess it

1738
01:26:52,439 --> 01:26:57,280
Speaker 1: would be silence. That would be my guess. Look, look,

1739
01:26:57,400 --> 01:27:01,880
Speaker 1: look there's a lot of there are some people kind

1740
01:27:01,880 --> 01:27:05,360
Speaker 1: of hounding Congressman over like fifteen hundred dollars donations. I mean,

1741
01:27:05,360 --> 01:27:06,880
Speaker 1: you guys know how the game works. I mean, that's

1742
01:27:06,920 --> 01:27:09,559
Speaker 1: not that's not that's like, that's not kind of irrelevant

1743
01:27:09,560 --> 01:27:11,280
Speaker 1: to me. And like whatever they'll donate to charity. And

1744
01:27:11,280 --> 01:27:14,760
Speaker 1: if you're some senator right or congressman you know who,

1745
01:27:15,080 --> 01:27:17,759
Speaker 1: someone's saying, what are you doing with twenty hundred dollars?

1746
01:27:17,840 --> 01:27:19,400
Speaker 1: Like it's just that's easy to do. I mean, I

1747
01:27:19,439 --> 01:27:22,800
Speaker 1: think it's the broader reaction in kind of the Democratic

1748
01:27:22,880 --> 01:27:26,840
Speaker 1: Party big money world. It's almost like some people are

1749
01:27:26,840 --> 01:27:28,880
Speaker 1: treating us like a tragedy, you know, like there was

1750
01:27:28,960 --> 01:27:31,080
Speaker 1: this death, there was this death that's happened, you know

1751
01:27:31,880 --> 01:27:34,040
Speaker 1: where where you know, there was going to be this

1752
01:27:34,120 --> 01:27:35,720
Speaker 1: guy who's going to spend all this money and all

1753
01:27:35,720 --> 01:27:38,800
Speaker 1: those good causes and you know, or good causes to them,

1754
01:27:38,920 --> 01:27:42,280
Speaker 1: right and now he's no longer with us, and it's

1755
01:27:42,280 --> 01:27:43,800
Speaker 1: time for the funeral. I mean, there's a little bit

1756
01:27:43,840 --> 01:27:47,960
Speaker 1: of that, and that's and that's like it's almost like

1757
01:27:48,040 --> 01:27:51,719
Speaker 1: what you it's almost like the amazing you know meal

1758
01:27:51,760 --> 01:27:53,439
Speaker 1: you could have had that you're not gonna get to

1759
01:27:53,479 --> 01:27:55,519
Speaker 1: have rather than like, rather than the meal you're eating

1760
01:27:55,560 --> 01:27:57,600
Speaker 1: at the right now right now and not you know,

1761
01:27:57,720 --> 01:27:59,519
Speaker 1: be taken away from you right now, Like there's not

1762
01:27:59,680 --> 01:28:02,559
Speaker 1: that much money is being ripped from their cold dead

1763
01:28:02,600 --> 01:28:05,400
Speaker 1: hands right now. It's kind of the what would this

1764
01:28:05,439 --> 01:28:07,360
Speaker 1: person be doing in twenty years? Was this the next

1765
01:28:07,400 --> 01:28:10,360
Speaker 1: George sort of question? Right? And you heard do you

1766
01:28:10,479 --> 01:28:15,440
Speaker 1: have a sense of how this might impact Democrats in particular?

1767
01:28:15,560 --> 01:28:17,720
Speaker 1: But I guess both parties in terms of how they

1768
01:28:17,840 --> 01:28:20,519
Speaker 1: view crypto because there really was this sort of battle

1769
01:28:20,560 --> 01:28:24,120
Speaker 1: going on in Capitol Hill. Head of the SEC has

1770
01:28:24,200 --> 01:28:27,120
Speaker 1: been taking more aggressive approach and we covered here some

1771
01:28:27,240 --> 01:28:29,120
Speaker 1: of the things that were more for show but also

1772
01:28:29,200 --> 01:28:31,280
Speaker 1: meant to send send a signal to the industry, like

1773
01:28:31,360 --> 01:28:34,479
Speaker 1: coming after Kim Kardashian for like taking money from one

1774
01:28:34,520 --> 01:28:38,639
Speaker 1: of these crypto fraud scams essentially, and other celebrities as well.

1775
01:28:39,360 --> 01:28:41,679
Speaker 1: The SEC is seen as having a lot more teeth

1776
01:28:42,080 --> 01:28:45,559
Speaker 1: and the what was it the f f Which one

1777
01:28:45,600 --> 01:28:48,120
Speaker 1: do they want to be actually regulated by? That had

1778
01:28:48,120 --> 01:28:52,200
Speaker 1: a lot less teeth? The Federal CFTC there you go,

1779
01:28:52,600 --> 01:28:57,680
Speaker 1: Consumer Financial Protection Pureau. No, that's the commodities. That's the

1780
01:28:57,720 --> 01:29:02,040
Speaker 1: one that they say as being some letters. Yeah, so anyway,

1781
01:29:02,120 --> 01:29:04,960
Speaker 1: that's the one that they saw as being more toothless.

1782
01:29:05,439 --> 01:29:08,719
Speaker 1: It seems like that argument is not going to carry

1783
01:29:08,720 --> 01:29:10,920
Speaker 1: as much water now that Sam is gone. Like, do

1784
01:29:11,000 --> 01:29:13,400
Speaker 1: you think that we're going to see some more aggressive

1785
01:29:13,560 --> 01:29:16,040
Speaker 1: approach to the crypto industry. Do you think that for

1786
01:29:16,200 --> 01:29:18,679
Speaker 1: Democrats in particular, they're just going to be like sort

1787
01:29:18,680 --> 01:29:22,080
Speaker 1: of skeptical of this whole industry as a whole. What

1788
01:29:22,160 --> 01:29:24,680
Speaker 1: do you think the approach is going to be now? Yeah, look,

1789
01:29:24,840 --> 01:29:27,160
Speaker 1: I mean, obviously Sam himself will not be in the picture,

1790
01:29:27,280 --> 01:29:29,559
Speaker 1: so just starting with that, right, I mean, the kind

1791
01:29:29,600 --> 01:29:32,280
Speaker 1: of I would argue, you know, the lead, you know,

1792
01:29:32,360 --> 01:29:34,680
Speaker 1: the number one lobbyist in the country on this was

1793
01:29:34,720 --> 01:29:38,920
Speaker 1: Sam bankmin Free and you know he is now out

1794
01:29:38,960 --> 01:29:41,800
Speaker 1: of the picture now, like could someone else fill that gap? Like? Sure?

1795
01:29:43,000 --> 01:29:45,320
Speaker 1: But to the broader question you're asking about, you know,

1796
01:29:45,479 --> 01:29:47,160
Speaker 1: whether or not there is now going to be this

1797
01:29:47,280 --> 01:29:50,800
Speaker 1: kind of chill on this industry, Like you're right, I

1798
01:29:50,840 --> 01:29:53,320
Speaker 1: mean this wasn't you know, this not everything was warm

1799
01:29:53,360 --> 01:29:58,240
Speaker 1: and fuzzy, you know, six months ago either, but but clearly,

1800
01:29:58,640 --> 01:30:01,320
Speaker 1: you know, there was a company that you know, seems

1801
01:30:01,360 --> 01:30:03,439
Speaker 1: to be pretty good evidence well you know, was at

1802
01:30:03,520 --> 01:30:07,000
Speaker 1: least was allegedly defrauding people, right, And could this have

1803
01:30:07,120 --> 01:30:09,720
Speaker 1: happened with like a bank? I mean banks are very

1804
01:30:09,960 --> 01:30:13,080
Speaker 1: very heavily regulated. You know, could could someone have a

1805
01:30:13,160 --> 01:30:16,959
Speaker 1: hedge fund which they take money and from customer deposits

1806
01:30:17,120 --> 01:30:19,439
Speaker 1: and you know, invest in other stuff Like I mean,

1807
01:30:19,560 --> 01:30:21,800
Speaker 1: let's see where the facts that ultimately fall here. But

1808
01:30:22,120 --> 01:30:24,160
Speaker 1: but clearly this is going to ramp up, you know,

1809
01:30:24,240 --> 01:30:28,439
Speaker 1: at least like trupidation around crypto. And again they weren't

1810
01:30:28,640 --> 01:30:31,439
Speaker 1: I think they were arguably as a stalemate in Washington already.

1811
01:30:32,400 --> 01:30:34,880
Speaker 1: Now you have like the number one poster child for

1812
01:30:34,960 --> 01:30:39,800
Speaker 1: this industry. Like absolutely, you know, crying into scandal and

1813
01:30:39,920 --> 01:30:43,080
Speaker 1: that's not good for I mean, no ship, that's not

1814
01:30:43,360 --> 01:30:46,679
Speaker 1: that's not good for the industry. Yeah, and let alone

1815
01:30:46,800 --> 01:30:49,800
Speaker 1: the contagion, which is you know, at Genesis, at Block FI,

1816
01:30:50,080 --> 01:30:54,200
Speaker 1: at Gemini Point Base all right now, so they're going

1817
01:30:54,280 --> 01:30:56,120
Speaker 1: to be in some trouble. Teddy, keep it up, man,

1818
01:30:56,479 --> 01:30:58,479
Speaker 1: keep sending us your stuff as well. You do excellent

1819
01:30:58,520 --> 01:31:01,160
Speaker 1: work over there at Pop big fans over here at

1820
01:31:01,160 --> 01:31:03,760
Speaker 1: breaking points, and we appreciate it. So thank you you

1821
01:31:03,880 --> 01:31:06,800
Speaker 1: bet absolutely, thank you guys so much for watching. We

1822
01:31:06,880 --> 01:31:10,240
Speaker 1: really appreciate it. We've got don't forget live show tickets

1823
01:31:10,280 --> 01:31:13,360
Speaker 1: down there in the description although it is Ticketmaster. Nothing

1824
01:31:13,439 --> 01:31:15,840
Speaker 1: we could do about that with folks. Wish that we could.

1825
01:31:16,160 --> 01:31:19,000
Speaker 1: For the premium subscribers. We appreciate you guys so much.

1826
01:31:19,080 --> 01:31:21,479
Speaker 1: We wish everybody happy holidays and all that. And we'll

1827
01:31:21,479 --> 01:31:23,200
Speaker 1: see you all tomorrow. Love you guys, see you tomorrow.