WEBVTT - 0522 BWD Podcast FINAL 0:00:02.520 --> 0:00:07.000 Bloomberg Audio Studios, Podcasts, radio News. 0:00:08.920 --> 0:00:13.240 This is Bloomberg Business Week Daily reporting from the magazine 0:00:13.240 --> 0:00:17.840 that helps global leaders stay ahead with insight on the people, companies, 0:00:17.880 --> 0:00:22.760 and trends shaping today's complex economy. Plus global business finance 0:00:22.800 --> 0:00:26.520 and tech news as it happens. The Bloomberg Business Weekdaily 0:00:26.640 --> 0:00:31.720 Podcast with Carol Masser and Tim Steneveek on Bloomberg Radio. 0:00:32.280 --> 0:00:35.080 Our most read story on the Bloomberg at this hour 0:00:35.159 --> 0:00:38.120 has to do with the Trump administration telling Harvard University 0:00:38.159 --> 0:00:42.440 it cannot enroll international students, so no doubt about it 0:00:42.479 --> 0:00:43.879 delivering a major blow to the. 0:00:43.880 --> 0:00:46.199 School after the government, you might recall. 0:00:46.120 --> 0:00:49.320 Also had frozen billions of dollars of federal funding and 0:00:49.360 --> 0:00:51.720 really escalating a fight that we are seeing between the 0:00:51.800 --> 0:00:56.400 United States and Harvard and other elite colleges. Colleges, but 0:00:56.440 --> 0:00:59.000 really kind of taking this to a whole other level. 0:00:59.000 --> 0:01:03.120 Tip we got Kleimashinkska, team leader for DC Breaking News, 0:01:03.480 --> 0:01:06.640 joining us from our Washington DC bureau. Carol read the 0:01:06.680 --> 0:01:10.319 headlines at Kassia, But I'm wondering about sort of we 0:01:10.319 --> 0:01:13.040 were seeing the reaction, we're seeing the interest. Everybody's talking 0:01:13.080 --> 0:01:15.600 about this story, right now, is this the type of 0:01:15.640 --> 0:01:18.120 thing that is going to get legal pushback, our lawyers 0:01:18.200 --> 0:01:20.920 already working on this to try to prevent this from happening. 0:01:21.000 --> 0:01:23.640 Or can the administration actually make Harvard do this? 0:01:24.400 --> 0:01:27.240 Yeah? Great questions, Thank you for having me. Indeed just 0:01:27.240 --> 0:01:30.480 currently them all throughout the story on the terminal and 0:01:30.600 --> 0:01:34.800 really a surprising new development and major escalation where the 0:01:34.800 --> 0:01:40.320 Trump administration is basically telling Harvard they cannot all international students. 0:01:40.680 --> 0:01:43.559 Not only that, but also the current the currently erals 0:01:44.040 --> 0:01:47.119 foreign students have to transfer or they will lose their 0:01:47.200 --> 0:01:51.080 legal statute. Harvard has already responded on the saying that 0:01:51.120 --> 0:01:54.240 they will that they will fight it, that they obviously 0:01:54.240 --> 0:01:57.640 don't agree with this decision, So there will be definitely 0:01:57.720 --> 0:01:58.240 more to come. 0:01:58.400 --> 0:02:00.520 You know what's interesting, Casia Like, it's you know, we've 0:02:00.560 --> 0:02:02.880 been seeing all of this play out, and I feel 0:02:02.880 --> 0:02:05.000 like universities have been trying to figure out what's the 0:02:05.040 --> 0:02:07.520 right balance in terms of dealing with the administration over it. 0:02:07.800 --> 0:02:11.200 I feel like money trumps everything, and financially we are 0:02:11.400 --> 0:02:12.919 continuing to see. 0:02:14.240 --> 0:02:17.359 Impacts on universities. 0:02:16.680 --> 0:02:19.160 Because of what the administration is doing pulling federal funding. 0:02:19.160 --> 0:02:21.040 But I look at Harvard I mean, we. 0:02:21.040 --> 0:02:25.000 Keep reading the statistic, almost sixty eight hundred students at Harvard, 0:02:25.080 --> 0:02:28.160 twenty seven percent of the entire student body come from 0:02:28.200 --> 0:02:31.079 other countries. That's up from just under twenty percent back 0:02:31.080 --> 0:02:33.320 in two thousand and six. This is looking at the 0:02:33.639 --> 0:02:37.440 university's data. I mean, this becomes a bigger and bigger 0:02:37.600 --> 0:02:40.400 financial blow to the university. And you do wonder at 0:02:40.400 --> 0:02:44.560 this point do universities in general, Harvard included, you know, 0:02:44.919 --> 0:02:46.920 are going to fight back even harder because this is 0:02:46.960 --> 0:02:48.160 about money. 0:02:48.200 --> 0:02:50.800 It comes down to also in terms of principles. 0:02:51.720 --> 0:02:54.519 Yeah, exactly. So this is more than a quarter of 0:02:54.560 --> 0:02:57.240 all their students. I think it's also interesting that this 0:02:57.320 --> 0:03:01.920 is the Department of Homeland Security involved them. The statement 0:03:02.400 --> 0:03:05.080 your this hour came from the DHS, which was as 0:03:05.120 --> 0:03:08.880 citing right, the protests, the fact that they blamed the 0:03:09.000 --> 0:03:13.200 Harvard leadersh for not being able to keep its campus 0:03:13.440 --> 0:03:16.480 basically safe and putting some students at through it. 0:03:17.760 --> 0:03:21.280 Yeah, I'm thinking about all the Harvard alumni in Congress 0:03:21.360 --> 0:03:25.240 right now. Harvard Law actually has an article on their 0:03:25.280 --> 0:03:29.200 website post election touting the fact that all Harvard Law 0:03:29.240 --> 0:03:32.560 alumni running for reelection to Congress won their races. Well, 0:03:32.639 --> 0:03:35.520 five more alumni vied to join their ranks. They talked 0:03:35.520 --> 0:03:38.840 about incumbents in the US House of Representatives. They also 0:03:38.880 --> 0:03:42.960 talked about Republican Ted Cruz Tim Kaine who were re 0:03:43.040 --> 0:03:46.240 elected to the Senate, in addition to other alumni from 0:03:46.360 --> 0:03:48.320 Harvard Law School. Have we heard anything yet at this 0:03:48.480 --> 0:03:53.600 point from either Democrats or Republicans who were alums of 0:03:53.600 --> 0:03:56.720 Harvard University at least Stephonic for example, who's been very 0:03:56.800 --> 0:04:00.440 critical of the school. Republican member from New York House, 0:04:00.640 --> 0:04:02.960 have we heard anything from them since this came out. 0:04:04.400 --> 0:04:06.480 You know, it came out less than an hour ago, 0:04:06.600 --> 0:04:09.080 so I haven't seen anything here yet. On the breaking 0:04:09.160 --> 0:04:12.240 news desk, you might. You know, it's not only people 0:04:12.280 --> 0:04:15.000 in Congress, it's also major donors right on both sides. 0:04:15.440 --> 0:04:18.320 So I'm sure this story will continue to escalate. 0:04:18.760 --> 0:04:20.240 Talk a little bit more about this coming from the 0:04:20.240 --> 0:04:22.880 Department of Homeland Security, Like, it's just interesting, it's kind 0:04:22.880 --> 0:04:25.880 of playing into kind of the safety element, right, We've 0:04:25.920 --> 0:04:29.320 seen this kind of being used, I feel like in 0:04:29.400 --> 0:04:33.880 terms of security reasons. We've seen this with immigration in general. 0:04:33.960 --> 0:04:38.480 Like I just that thinking and philosophy that continues to 0:04:38.520 --> 0:04:42.400 come from the administration again that I guess will also 0:04:42.440 --> 0:04:44.720 be discussed in any kind of legal arguments. 0:04:45.920 --> 0:04:49.520 Yes, this timing is really interesting and really strange, you know, 0:04:49.600 --> 0:04:52.680 given what happened here in DC overnight as well, and 0:04:52.720 --> 0:04:57.160 the statement actually specifically sites Jewish students. It's also a 0:04:57.240 --> 0:04:59.719 kind of woo you that the statement landed just after 0:05:00.000 --> 0:05:02.760 online let it finish her briefing, so that kind of 0:05:02.800 --> 0:05:05.760 didn't allow us to ask her more questions, even though 0:05:05.760 --> 0:05:08.680 obviously must have been aware of it happening, because apparently 0:05:09.040 --> 0:05:11.279 there were some papers going back and forth between the 0:05:11.320 --> 0:05:15.720 Trauma administration and the school for several days or even 0:05:16.160 --> 0:05:20.119 weeks now. So Yes, this is definitely an interesting timing 0:05:20.160 --> 0:05:20.960 for this announcement. 0:05:21.360 --> 0:05:23.600 Yeah, I'm also thinking, and i know you're covering breaking news, 0:05:23.640 --> 0:05:26.000 but I'm also thinking about just the educational impact of 0:05:26.040 --> 0:05:28.560 a move such as this. Given the numbers that Carol mentioned, 0:05:28.560 --> 0:05:31.240 thousands of students there, close to thirty percent of the 0:05:31.400 --> 0:05:33.760 entire student body, this is the type of thing that 0:05:34.120 --> 0:05:38.239 could potentially wreak havoc on a university's finances, but also 0:05:38.320 --> 0:05:42.080 in such a short period of time where ostensibly acceptance 0:05:42.200 --> 0:05:45.039 letters have already been mailed out we understand the yield 0:05:45.080 --> 0:05:48.240 of the class coming in the timing of this is 0:05:48.600 --> 0:05:50.200 pretty is pretty wild. 0:05:50.960 --> 0:05:54.000 Yes, it's really strength and difficult. It's not only about 0:05:54.000 --> 0:05:56.599 the new students but also existing students who will have 0:05:56.680 --> 0:06:01.359 to transfer or lose their legals tables that me insluding 0:06:01.360 --> 0:06:06.039 their visa, possibly being forced to go back home. Yes, 0:06:06.080 --> 0:06:08.120 and it's not only about the finances, right, but also 0:06:08.320 --> 0:06:12.520 about the diversity of the campus. I mean, we know 0:06:12.600 --> 0:06:16.839 that the school has been previously attacked for their diversity efforts, 0:06:16.920 --> 0:06:21.400 so there's also addresses that issue of the diversity of 0:06:21.400 --> 0:06:22.159 the student body. 0:06:22.480 --> 0:06:23.599 Cassie, one last question. 0:06:24.400 --> 0:06:27.000 You know, it's interesting that it feels like Harvard is 0:06:27.040 --> 0:06:29.200 being attacked big time. We've seen it also with Columbia 0:06:29.200 --> 0:06:31.200 and some other schools, but it does feel like makes 0:06:31.240 --> 0:06:32.760 me wonder like who didn't get into Harvard and the 0:06:32.760 --> 0:06:35.279 administration that's like so angry. But I know it's a bigger, 0:06:35.279 --> 0:06:38.320 broader story. Having said that, should we assume that other 0:06:38.400 --> 0:06:41.159 schools will be targeted in a similar way as hard 0:06:41.200 --> 0:06:41.960 as Harvard is. 0:06:41.920 --> 0:06:45.159 Being so I think this is what is very surprising 0:06:45.200 --> 0:06:48.520 about this news, right, that it singles out this one's 0:06:48.560 --> 0:06:52.359 school and goes after its leadership. So I think we 0:06:52.440 --> 0:06:54.120 have to see we have you to find out whether 0:06:54.160 --> 0:06:56.799 the DHS will go after other schools as well. 0:06:57.080 --> 0:07:00.720 Yeah, fascinating and uh, you know, just I think it's 0:07:00.720 --> 0:07:03.200 safe to say many would would characterize it that way. 0:07:03.720 --> 0:07:06.680 Cassia clemschinks she's team leader for DC Breaking News, joining 0:07:06.760 --> 0:07:09.080 us from our DC News bureau. 0:07:09.600 --> 0:07:13.600 You're listening to the Bloomberg Business Weekdaily podcast. Catch us 0:07:13.640 --> 0:07:17.119 live weekday afternoons from two to five pm Eastern. Listen 0:07:17.120 --> 0:07:20.720 on Applecarplay and Android Auto with the Bloomberg Business app, 0:07:20.840 --> 0:07:23.440 or watch us live on YouTube. 0:07:24.040 --> 0:07:25.960 Well, let's talk a little bit about today's big take. 0:07:26.040 --> 0:07:28.440 Carol Masser, I couldn't get enough of this and the 0:07:28.480 --> 0:07:32.640 illustrations that are included in it. Max Abelson joins us 0:07:32.640 --> 0:07:37.840 now he's Bloomberg News, a finance reporter, whether it's geopolitics, trades, tariffs, 0:07:37.920 --> 0:07:41.960 or on more more personal level real estate, crypto corporate ventures. 0:07:41.960 --> 0:07:44.160 Some say this second term of President Donald Trump is 0:07:44.200 --> 0:07:47.520 all about the art of the deal. Some of the actions, though, 0:07:47.560 --> 0:07:50.280 have raised ethical questions that have been addressed by White 0:07:50.320 --> 0:07:54.320 House Press Secretary Caroline Lovitt, including earlier this month. 0:07:55.240 --> 0:07:58.760 The president is abiding by all conflict of interest laws. 0:07:58.800 --> 0:08:01.520 The President has been incredibly transparent with his own personal 0:08:01.760 --> 0:08:05.400 financial obligation throughout the years. The President is a successful businessman, 0:08:05.440 --> 0:08:07.120 and I think, frankly, it's one of the many reasons 0:08:07.200 --> 0:08:09.480 that people re elected him back to this office. Look, 0:08:09.520 --> 0:08:12.120 I can assure you the President acts with only the 0:08:12.120 --> 0:08:14.960 interests of the American public in mind, putting our country 0:08:15.000 --> 0:08:17.680 first and doing what's best for our country full stop. 0:08:17.800 --> 0:08:19.960 That's his intention, and that's what he's focused on. 0:08:21.080 --> 0:08:23.480 Well, today, the Bloomberg Big Take is focused on how 0:08:23.560 --> 0:08:26.600 since the early days of the reelection campaign, President Trump 0:08:26.640 --> 0:08:29.560 has more than doubled his net worth carol to about 0:08:29.600 --> 0:08:31.520 five point four billion dollars. 0:08:31.520 --> 0:08:33.679 All right, we want to get into this and with 0:08:33.760 --> 0:08:36.400 us to who has written this Bloomberg Big Take. It 0:08:36.440 --> 0:08:37.760 is one of the most read and it is a 0:08:37.880 --> 0:08:40.760 must read. It has been deemed so by our Bloomberg 0:08:40.840 --> 0:08:43.959 editorial team. Max Abelson and Andy Massa wrote the story. 0:08:44.200 --> 0:08:46.360 Joining us right now is Bloomberg News Finance reporter Max 0:08:46.400 --> 0:08:50.520 Abelson right here in studio. It's pretty incredible because you 0:08:50.520 --> 0:08:53.080 guys have really laid out all that's been going on 0:08:53.160 --> 0:08:55.720 in terms of business activity for the President. We should 0:08:55.880 --> 0:08:57.800 just you know, we just heard from Caroline Levitt, who 0:08:57.880 --> 0:09:01.360 has been asked about this at some of the press conferences, 0:09:01.400 --> 0:09:04.160 the daily White House press conferences, and she says, the 0:09:04.160 --> 0:09:07.520 president abiding by all conflicts of interest of laws, incredibly 0:09:07.600 --> 0:09:11.200 transparent and so on and so forth. But it does 0:09:11.240 --> 0:09:13.040 beg a lot of questions tell us about how you 0:09:13.080 --> 0:09:14.000 approach this, because. 0:09:13.760 --> 0:09:15.040 There's been a lot of stuff going on. 0:09:15.360 --> 0:09:16.880 I would love to you I'm going to say something 0:09:17.200 --> 0:09:18.960 about our project, and I'm going to say something like 0:09:19.000 --> 0:09:21.240 this is basically the opposite of it. But you'll see 0:09:21.240 --> 0:09:24.680 what I mean. Our project is really about being able 0:09:24.720 --> 0:09:28.320 to step back and to say in concrete terms, factual terms, 0:09:28.400 --> 0:09:35.400 clear terms, what is happening here when a president is 0:09:35.520 --> 0:09:39.240 doing more than anyone in modern American history that we 0:09:39.240 --> 0:09:42.840 can tell any other president in modern America to position 0:09:42.920 --> 0:09:47.120 his family to make an astounding amount of money while 0:09:47.120 --> 0:09:48.679 in the White House. And when I say astounding, what 0:09:48.720 --> 0:09:50.240 we're talking about is not in the millions or in 0:09:50.280 --> 0:09:53.720 the hundred of millions. What we're talking about is deals 0:09:53.880 --> 0:09:57.520 that are in the billions. Whether we're talking about the 0:09:57.559 --> 0:10:00.240 Trump n empowering I think more than ten bills million 0:10:00.320 --> 0:10:03.400 dollars worth of real estate projects, the trump Na empowering 0:10:03.480 --> 0:10:06.880 billions of dollars of value for a social media company 0:10:06.920 --> 0:10:11.720 which which only went public last year, you know, hundreds 0:10:11.720 --> 0:10:14.160 of millions of dollars of crypto. And then and then 0:10:14.160 --> 0:10:15.360 I told her I was going to say something that 0:10:15.360 --> 0:10:16.760 was the opposite of this, that this is this is 0:10:16.800 --> 0:10:19.160 what I want to say. As I was walking here 0:10:19.200 --> 0:10:20.640 from my desk in the newsroom, just on the other 0:10:20.679 --> 0:10:23.360 side of this floor to our radio studio, I saw 0:10:23.440 --> 0:10:27.400 that the United States government, the Trumpet administration, told Harvard 0:10:27.480 --> 0:10:30.840 University right that that it can't enroll international students and 0:10:30.840 --> 0:10:33.120 that and that existing foreign students are going to have 0:10:33.160 --> 0:10:36.600 to transfer or lose their legal status. And you know, 0:10:36.720 --> 0:10:39.920 for me personally, news like that, which I find comes 0:10:39.960 --> 0:10:44.280 basically every week, maybe sometimes every day, just these really 0:10:45.120 --> 0:10:47.360 things that I had never contemplated or never heard of. 0:10:47.880 --> 0:10:50.840 That there has been so much tumult in the last 0:10:50.880 --> 0:10:54.080 few months, so many things going on, tariffs alone, the 0:10:54.120 --> 0:10:58.280 stock market alone, the economy alone, that it is so 0:10:58.600 --> 0:11:02.880 easy to forget that what is happening on the Trump 0:11:03.040 --> 0:11:05.760 business side is really important too. 0:11:06.360 --> 0:11:07.880 So what Ann and I we're trying to do. 0:11:08.120 --> 0:11:12.480 We try to just forget about politics, and forget about policy, 0:11:12.559 --> 0:11:15.600 forget about things like Harvard, and just really focus on 0:11:15.679 --> 0:11:17.400 the Trump money making machine. 0:11:17.440 --> 0:11:17.920 Can I say? 0:11:17.920 --> 0:11:19.480 There are folks that come in and say, you know, 0:11:19.520 --> 0:11:22.360 we're all kind of chasing the stuff that is coming 0:11:22.360 --> 0:11:24.760 out of the White House, and the question often arises 0:11:24.800 --> 0:11:26.480 of like, well, wait, what are we missing? 0:11:26.679 --> 0:11:27.720 What is going on that. 0:11:27.640 --> 0:11:31.839 Maybe isn't in the headline, or what the administration is 0:11:31.840 --> 0:11:34.360 talking about or the president's team. So take it away 0:11:34.360 --> 0:11:36.400 because you guys did some really deep reporting. 0:11:36.559 --> 0:11:39.280 That is what we tried to do, so Annie Massa 0:11:39.320 --> 0:11:41.480 and I with help from many editors. I want to 0:11:41.480 --> 0:11:44.120 mention David Shear, who really made this happen. What we 0:11:44.200 --> 0:11:46.200 tried to focus on is that compared to all that 0:11:46.240 --> 0:11:48.640 tumult that I just mentioned, all the Harvard news and 0:11:48.679 --> 0:11:51.160 the comings and goings, compared to that, there's something very 0:11:51.240 --> 0:11:54.559 clear about the Trump empire, which is that it's approach, 0:11:55.080 --> 0:11:59.120 and our timeline is since the reelection campaign began. Everything 0:11:59.120 --> 0:12:01.800 that we're talking about here is after he announced his reelection. 0:12:02.360 --> 0:12:03.280 The approach is clear. 0:12:03.960 --> 0:12:07.840 The Trumps are selling that family name, and they're doing 0:12:07.920 --> 0:12:11.280 it at a scale that I really do think could 0:12:11.320 --> 0:12:13.440 could very well be the story of the day, the 0:12:13.480 --> 0:12:15.800 story of the year, if it weren't for all these 0:12:15.800 --> 0:12:19.760 things happening. You know, we see, we see the Trumps 0:12:20.559 --> 0:12:23.600 going and doing things they simply did not do in 0:12:23.640 --> 0:12:25.160 the last term when they. 0:12:25.000 --> 0:12:26.920 Said no to no new foreign deals. 0:12:27.040 --> 0:12:29.360 In the first administration, we were not talking about new 0:12:29.360 --> 0:12:32.800 foreign deals and last of administration really because Trump essentially 0:12:32.840 --> 0:12:36.160 said that they wouldn't happen. Now, you know, you basically 0:12:36.200 --> 0:12:38.760 have to take out your globe because Annie and I traveled, 0:12:38.800 --> 0:12:44.520 you know, journalistically speaking to Cutter, India, Vietnam, the United 0:12:44.559 --> 0:12:48.360 Arab Emirates, the United States is involved too, and at 0:12:48.400 --> 0:12:51.720 each point they're doing really interesting things. They're built, they're 0:12:51.720 --> 0:12:55.120 they're they're licensing their name to really big projects, hundreds 0:12:55.160 --> 0:12:57.240 of millions of dollars if not billions of dollars worth 0:12:57.280 --> 0:13:01.400 worth of projects. And sometimes not all time, sometimes something 0:13:01.720 --> 0:13:04.720 very important is happening, which is that the deal includes 0:13:05.120 --> 0:13:09.280 arms of governments. I'm talking about you know, it may 0:13:09.280 --> 0:13:12.400 not be the Trump administration, it may not be the 0:13:12.440 --> 0:13:14.840 Trump family, I should say, signing a deal with a government, 0:13:15.080 --> 0:13:19.120 but governments are involved, and that rubs up against what 0:13:19.160 --> 0:13:21.559 Trump said would not happen this term. When Trump said 0:13:21.600 --> 0:13:23.480 there would not be new deals with foreign. 0:13:23.280 --> 0:13:25.560 Governments, governments involved, government money involved. 0:13:25.880 --> 0:13:29.680 What we're really talking about is things like let's say 0:13:29.920 --> 0:13:35.400 in Oman, for example, they announced when they when they 0:13:35.480 --> 0:13:38.920 announced that deal, they announced as a partner the Umran Group, 0:13:39.320 --> 0:13:43.400 and that is essentially as it's a think of it 0:13:43.400 --> 0:13:45.840 as a state owned tourism group and they're going to 0:13:45.840 --> 0:13:48.560 be involved in that deal. Listen, let me let me 0:13:48.720 --> 0:13:52.120 point out that the Vietnamese I believe he's a prime minister. 0:13:52.160 --> 0:13:54.480 He may be the president, but the head, one extremely 0:13:54.520 --> 0:13:58.320 important figure in Vietnam met with basically the financial representative 0:13:58.400 --> 0:14:01.200 representative on the Trump on the on the new Trump 0:14:01.240 --> 0:14:02.240 project in Vietnam. 0:14:02.679 --> 0:14:03.480 That is what we. 0:14:03.440 --> 0:14:05.760 Mean when we say that these things are very big, 0:14:06.040 --> 0:14:10.560 They're potentially very lucrative, and a lot are happening right now. 0:14:10.640 --> 0:14:13.280 Max real Estate is just one piece of the puzzle here. 0:14:13.280 --> 0:14:15.520 It's certainly a global piece of the puzzle. The crypto 0:14:15.679 --> 0:14:18.600 story is included in here as well. You talk about 0:14:18.640 --> 0:14:22.680 world liberty, financial the Trump and Millenia mean coins as well. 0:14:23.000 --> 0:14:24.920 I want to focus a little bit on the corporate 0:14:24.960 --> 0:14:27.080 side of things. I think that gets a lot I 0:14:27.160 --> 0:14:29.480 think that gets a lot less attention than everything else. Right, 0:14:29.640 --> 0:14:31.560 there was a lot in here that I had never 0:14:32.000 --> 0:14:34.840 even heard of when it came to Trump family connections. 0:14:34.920 --> 0:14:37.600 Grab a gun for example. Talk a little bit about 0:14:37.600 --> 0:14:39.760 the corporate connections and what you Annie and the team 0:14:39.800 --> 0:14:40.480 uncovered here. 0:14:40.600 --> 0:14:43.480 I really admire any Master's ability to put her finger 0:14:43.560 --> 0:14:45.680 on these on these corporate connections, the things that I 0:14:45.720 --> 0:14:48.240 hadn't heard of. I mean, you know, it's it's I 0:14:48.240 --> 0:14:50.000 think it's actually helpful to put crypto off to the 0:14:50.040 --> 0:14:51.840 side because it can it gets so much attention. I 0:14:51.880 --> 0:14:54.720 mean literally, tonight, Trump is scheduled to meet with the 0:14:54.760 --> 0:14:56.640 top holders right of one of his one of his 0:14:56.640 --> 0:14:59.160 crypto projects. I think it's the mean coin. But then 0:14:59.480 --> 0:15:01.240 you know, so that that gets all the attention. But 0:15:01.320 --> 0:15:05.520 then you see something like seventeen eighty nine Capital Donald 0:15:05.560 --> 0:15:08.640 Trump Junior join. I think he became a partner at 0:15:08.640 --> 0:15:11.840 seventeen eighty nine, like a matter of days after the election. 0:15:11.960 --> 0:15:13.760 I think it was less than a week after the election. 0:15:14.080 --> 0:15:16.400 And that's that's a group that you know, Rebecca Mercer, 0:15:16.440 --> 0:15:18.960 if you remember the Mercer name, it was a really 0:15:19.080 --> 0:15:22.960 that is a really important Republican mega mega donor, and 0:15:23.440 --> 0:15:25.880 what they're basically doing. The way to think about it 0:15:25.960 --> 0:15:29.280 is they're essentially monetizing the kind of Trumpian vision for 0:15:29.400 --> 0:15:33.360 US culture by taking stakes in you know, things like 0:15:33.360 --> 0:15:35.080 the Enhanced Games. I don't know if you've heard of that. 0:15:35.120 --> 0:15:37.400 Basically it's been nicknamed the steroid Olympics. 0:15:37.720 --> 0:15:40.080 Yeah, I've heard of these, you know. But you can 0:15:40.160 --> 0:15:42.440 athletes who can sort of they're not drug tested. You 0:15:42.480 --> 0:15:43.320 can do whatever you want. 0:15:43.360 --> 0:15:44.840 And then that's right, that's right, listener. 0:15:45.320 --> 0:15:47.120 Listeners can't really see me right now, but I'm like 0:15:47.240 --> 0:15:50.200 extremely jacked and steroidal. 0:15:49.760 --> 0:15:53.280 You know, lanning, that's exact purpose. 0:15:53.440 --> 0:15:55.120 I'm going to fight in the inn assterial Olympics. 0:15:55.120 --> 0:15:57.280 That's right, you know. 0:15:57.440 --> 0:15:59.800 But the list goes on and on there. It's almost 0:16:00.200 --> 0:16:02.120 much to mention on just one interview. I want to 0:16:02.160 --> 0:16:05.080 give a shout out to Unusual Machines, which is such 0:16:05.080 --> 0:16:06.400 a drone component maker. 0:16:07.080 --> 0:16:10.000 You know. When this is how powerful the Trump name is. 0:16:11.680 --> 0:16:15.200 When Donald Trump Junior's role was announced in by the way, 0:16:15.240 --> 0:16:18.480 in November November twenty twenty four, right again on the money, 0:16:19.160 --> 0:16:22.640 the stock popped basically two hundred and fifty percent, maybe 0:16:22.800 --> 0:16:24.360 just shy of two hundred and fifty percent in like 0:16:24.440 --> 0:16:26.280 the two days, two trading days that followed. 0:16:26.800 --> 0:16:27.480 That is power. 0:16:27.560 --> 0:16:30.320 I tell people that my beat here is money and power. 0:16:30.840 --> 0:16:33.400 That is money and power, and it just keeps going. 0:16:33.440 --> 0:16:35.400 There's you know, have you ever heard of PSQ Holdings? 0:16:35.480 --> 0:16:36.280 Do you a public square? 0:16:36.440 --> 0:16:36.840 Now I have? 0:16:37.400 --> 0:16:39.800 This is the anti woke ye. This is the anti 0:16:39.840 --> 0:16:42.720 woke marketplace where you can go and buy items such 0:16:42.720 --> 0:16:44.760 as these pro life diapers that you guys highlight in 0:16:44.800 --> 0:16:45.040 the piece. 0:16:45.160 --> 0:16:45.280 YEP. 0:16:45.320 --> 0:16:47.840 I want to thank Michael Seffert, the CEO who gave 0:16:47.920 --> 0:16:49.520 us a comment. He said that Trump Junior is an 0:16:49.520 --> 0:16:54.560 incredible businessman, GJI partner and marketing expert and in other words, 0:16:54.640 --> 0:16:56.080 in other words, what he's saying is that we want 0:16:56.120 --> 0:16:59.160 Trump Junior for his mind, not necessarily for anything else. 0:16:59.520 --> 0:17:01.320 But that's a good example of like, you know what, 0:17:01.520 --> 0:17:04.280 three million dollars more. That was Trump Junior's twenty twenty 0:17:04.280 --> 0:17:07.320 four compensation we found for PSQ and his board role 0:17:07.400 --> 0:17:11.520 was announced once again December December of twenty twenty four. 0:17:11.880 --> 0:17:12.600 It keeps on going. 0:17:12.640 --> 0:17:16.280 There's Dominari, which listeners should should read any mass a separate. 0:17:16.040 --> 0:17:17.040 Story on Donor. 0:17:17.280 --> 0:17:20.480 We talked and We're fascinating, have you you know, do 0:17:20.520 --> 0:17:24.320 you know the the idea of like basically events contract. 0:17:24.520 --> 0:17:27.439 Yeah, we interviewed the call She founders when they launched 0:17:27.520 --> 0:17:27.920 years ago. 0:17:28.200 --> 0:17:28.520 Kyle She. 0:17:28.840 --> 0:17:32.920 I mean that role was announced January January, and that's 0:17:32.960 --> 0:17:35.399 Donald Trump junior again Eric Trump. I don't want to 0:17:35.600 --> 0:17:37.720 overshadow Eric Trump. Eric Trump is also involved in some 0:17:37.800 --> 0:17:40.359 of these stuff. But it's but when you're talking about 0:17:40.720 --> 0:17:44.680 grab a gun, for example, that's yet again, Donald Trump Junior. 0:17:44.960 --> 0:17:45.960 It's yet again. 0:17:46.400 --> 0:17:49.119 It's's essentially the last few weeks, it's yet again at 0:17:49.200 --> 0:17:52.639 least three million dollars. And it's you know, for for 0:17:52.840 --> 0:17:56.120 listeners who I think that I'm especially interested in talking 0:17:56.160 --> 0:17:58.399 to listeners who sort of their minds aren't made up. 0:17:58.440 --> 0:17:58.560 You know. 0:17:58.600 --> 0:18:00.600 I don't think there's much. 0:18:00.560 --> 0:18:03.600 To do as a journalist for readers and listeners who 0:18:03.720 --> 0:18:05.800 just know that they despise Donald Trump, or that they 0:18:05.920 --> 0:18:09.280 know that they adore Donald Trump. I'm interested not in 0:18:09.440 --> 0:18:12.600 pandering to like this someone who has their mind made 0:18:12.680 --> 0:18:15.040 up already. I'm really interested in just like focusing on 0:18:15.119 --> 0:18:17.600 the numbers and focusing on just like what's actually happening. 0:18:18.080 --> 0:18:21.200 And you know, whether or not you dislike this or 0:18:21.640 --> 0:18:23.840 admire it. I think it's really helpful to take a 0:18:23.880 --> 0:18:27.560 step back and to look at a family empire that 0:18:27.720 --> 0:18:31.040 is poised to make money while while the father is 0:18:31.119 --> 0:18:33.480 in the White House in a way that's you know, 0:18:33.600 --> 0:18:35.320 I don't know what to compare it to. 0:18:35.520 --> 0:18:36.720 Obviously, obviously the. 0:18:36.760 --> 0:18:41.360 Biden family, the Obama family, the Clinton family, the Bushes. 0:18:41.480 --> 0:18:45.359 I can add, all of these people are capitalists. All 0:18:45.440 --> 0:18:48.400 of these families were familiar with their reporting around their 0:18:48.400 --> 0:18:52.840 money making, for sure, But as a financial reporter, I've 0:18:52.960 --> 0:18:56.520 never seen I think the keyword here is the scale 0:18:57.080 --> 0:18:59.960 billions of dollars just for Trump Media and Technology Group, 0:19:00.000 --> 0:19:02.800 which you know of because it's the true social parent, right, 0:19:03.240 --> 0:19:05.919 that went public last year he was on. 0:19:06.000 --> 0:19:06.840 The campaign trail. 0:19:07.480 --> 0:19:09.879 This scale is what appeals to me as a finance 0:19:09.960 --> 0:19:11.360 reporter because it feels so new. 0:19:11.600 --> 0:19:16.040 Listen to be fair, right, like you say, other presidents 0:19:16.119 --> 0:19:18.359 in their families make money, whether it's. 0:19:18.359 --> 0:19:22.320 At they write books, they are consultants. There's a lot 0:19:22.400 --> 0:19:22.720 of things. 0:19:22.840 --> 0:19:26.119 And just by right by being associated with a family 0:19:26.160 --> 0:19:28.840 that was in the White House, right, it definitely opens doors. 0:19:29.160 --> 0:19:31.760 But the point is, I think also is so much 0:19:31.800 --> 0:19:34.720 of this is happening before going into the White House, 0:19:34.800 --> 0:19:35.439 and now that he's. 0:19:35.320 --> 0:19:37.840 In the White House, that is that's a really good 0:19:37.880 --> 0:19:39.960